How early can you retire?

missile

"I can become who I want to be."


I would suggest that should be your starting point?


Decide who you want to be and make a plan on how best to achieve that.

GenghisKhan

missile wrote: »

"I can become who I want to be."


I would suggest that should be your starting point?


Decide who you want to be and make a plan on how best to achieve that.

Agreed. It is why I'm on my FIRE journey. Without the money worry the world will take on a very different perspective for me.

richyg

For those saving to retire early

https://www.mrmoneymustache.com

is a good website to get encouragement and ideas, chart progress etc . American but lots of posters from all over the world.


R.

bigfreddiel

I was so focused on retiring that when it came, after six months I was bored to death, and went back to wrk, part time.

As suggested try and find a job you like, work part time, three days a week is ideal, and take it from there

fj

Pincher

You can always volunteer to work in Africa for some charity.

An accountant once told me that she wanted to volunteer in Africa.
I assumed she meant cleaning bedpans or feeding the poor. No, she was going to do auditing for the charity in Africa: exactly the same thing she was doing in London :rotfl: .

bigadaj

Pincher wrote: »

You can always volunteer to work in Africa for some charity.

An accountant once told me that she wanted to volunteer in Africa.
I assumed she meant cleaning bedpans or feeding the poor. No, she was going to do auditing for the charity in Africa: exactly the same thing she was doing in London :rotfl: .

Accounting is often a bit more, well, challenging in Africa though.

green_man

I recently retired, I am 49. It comes down to how good you are at saving and what you can live on in retirement. However at aged 30 I would not get too focused on it if I were you otherwise you would be missing much of best part of your life.

One key factor in when you can retire may be when you pay your mortgage off so take that into account.

Establish an emergency fund.
Commit a decent amount of your income to a pension scheme.
Manage you mortgage.

If you can manage all that then enjoy your life, if you then have more money left over invest into Isas for potential longer term savings that could be used to bridge any earnings gap to when you can draw your pension.

gadgetmind

Thrugelmir wrote: »

Try buying a car for cash from a main dealer. :eek:

I saw three youngish lads trying to buy a flash BMW from a dealer with cash. The salesman finally accepted he could accept up to 4k as cash, and they then asked him to confirm that this was 4k each, and that it was their daily limit until car paid for!

Chickereeeee

GenghisKhan wrote: »

For me FIRE is work becomes optional and not sunning myself on a beach until I die.

At the FIRE point my plan is to:
1. Resign
2. Ascertain where we want to live. At this time that's looking like 6 months in Malta, Spain and a non-UK city location not in the South East of England to understand that.
3. In parallel decompress ensuring no critical decisions are made during this time. I want to really understand who I am outside of the high pressure high stress work environment I currently find myself.
4. If it's the UK then ideally build a modest home. Want a low energy use, fairly small home but on a bit of land which seem rare.
5. Then once I know myself and have the family settled figure out what I want to be when I grow up. That might be a keen cyclist, a keen sea kayaker, a valuable charity volunteer or a self employed worker. Money won't be a concern so I can become who I want to be. What I won't be is a corporate drone.

I could have ‘retired’ at 40 and lived, albeit frugally, but you’d be surprised how much your perception of work changes when money stress is removed. I chose to move into higher risk areas, which were more interesting, rewarding and had no ‘corporate drone’ nonsense.

C

sav500

check out the earlyretirementextreme blog.