In the 90’s, the age of retirement has been stated to be around 65 but people with a much younger age are already getting the idea of early retirement, the idea of young retirement is getting really popular as people no longer want to wait until their old age before they are able to enjoy the good things that life has to offer or quit their annoying 9-5 job.
Early retirement does not necessarily mean you have to completely quit working and stay idle all day, but the people who work hard to retire early only work on things that they are passionate about, you know we live in a stress filled world where people will do any type of job just to make sure that they are taking home money at the end of the month but the purpose of early retirement is to work from the position of complete comfort and not stress.
The early retirees of course shares the things we need to do in order to fall within the category of early retirees. The very first thing to consider is savings, financial advisers tell us to save about 10-15% of our earning but those who achieved financial freedom at an early stage in life did more than stacking away that percentage of money, they kept up to 50% of their savings and more at the end of every pay check received, this act means that they had to do away with a high percentage of luxury, they stayed away from luxurious vacations and expensive outings so they could save up more and retire at a young age.
However, early retirees understand that just saving is not enough so after that money has been saved, they take it and they invest it into a trusted and confirmed investment platform. This investment platform will make it easy for the funds placed there to grow.
Basically the first and most important step to early retirement is to slash down spending expenses, the spending expenses that we have every day takes up to 90% of our basic income, if we can possibly slash down that everyday living expenses then it will be possible to have extra money in savings and even much more for investment purposes that will yield better returns at the end of the month or year.
Early retirement is very possible if we set our heart to it, but it takes a lot of discipline and dedication to have things work for us and for early retirement to take place eventually.