Good morning,
I read in the papers someone died at 63.
I am 45 and already retired. Passive income more than enough to cover annual expenses. Now I am healthier, fitter and less stressed. Doctor said I will die young if I continued with my previous job lifestyle. So I decided to retire early given the millions in wealth. My work at home now involves investing, which is so much less stressful. My wealth is now growing at 10% pa. Debt free.
I dont drive as my condo is just next to an
MRT station, which can bring me to town faster than driving and less headache without parking. I avoid the crowd as I travel at non peak hours. My expenses also plunged as I am not working in the CBD any more.
Besides investing, I keep my self busy in planning where is my next travel adventure. Also planning to take up many new sports.
Wish you luck.
Quote:
Originally Posted by Unregistered
Trust me, you won't retire when you reach 55 and achieve your $5m target. That's what we thought when we were 50, always counting our savings and telling ourselves we'll retire at 55.
Now that we have achieved our savings target, somehow the level of stress seems less and work does not look too bad. The mere fact that we could simply walk away from our job knowing that we have enough to live comfortably for the rest of our lives make things at work more tolerable.
Once you hit that savings target, it gets better from there. The rate of increase in savings get faster. You will be surprised how easy it is to hit $6m when you achieve $5m, especially when the money is working hard for you. That's why they say the rich gets richer.
We are now contemplating retiring at 60, and based on our savings rate trajectory, we think hitting $7m - $7.5m is highly possible. Remember by then your children could be contributing to the household as well thereby reducing your expenses, and increasing your savings!
|