Early Retirement - a reasonable goal
Wouldn't early retirement be a great thing? It's part of what motivated me in my business activities, and it should be part of your motivation as well.
Not everyone has the same idea of what retirement is, but I think most people would like to get there sooner rather than later. That is to say, it would be nice to be in a place where working was more of a choice rather than a necessity.
It would be nice to have a lot more life left when you enter retirement, wouldn't it?
So, let's keep early retirement as a goal for any of the work we might engage in as part of our self employment. It seems so very reasonable to me. If you want to retire when everyone else around you does, then simply get yourself a job that promises a pension, and keep your fingers crossed that they make good on that promise.
With your own enterprise, you'll be building skills and experience that will allow you to be ever more successful. Your ever increasing success can lead to tremendous wealth accumulation, and that is one of the keys to retiring early. Essentially, you create your own pension.
It took me seven years to pay off my debt and accumulate a sufficient amount of money to throttle back my work and let myself slip into retirement at age 49. Now, based on my definition of retirement, I'm in my second career as a writer instead of what seemed to be a constant activity of waiting in line with others, taking off our shoes, placing laptop computers in plastic trays, and emptying metal objects out of our pockets.
The key is to be motivated. My motivation was a combination of getting out of debt and putting myself in a place where I was earning and retaining wealth such that I didn't have to work regularly anymore. It's also important that you have something else to be involved with when you get there. For me, it was a country estate and a new career as a writer.
The bottom line for me was the idea that "the rats keep winning the rat race," so I found a way to get out of the race and achieve a form of retirement that works for me.
Think of achieving early retirement as a type of "push and pull" where there are many things pushing you away from where you're at now, and many things pulling you into a better place. If you have the right combination of both, then you'll be sufficiently motivated to work smart and hard to achieve early retirement.
Done with Early Retirement, take me back Home