The allure of early retirement, escaping the daily grind for a life filled with freedom and leisure, is a powerful dream. However before taking the plunge, there are many things one should consider to increase the likelihood of a smooth transition and a secure future. This month, we’re delving into a few fundamental aspects to think about before embarking on your early retirement journey.
Deciding Whether an Early Retirement is Right for You
We’ll admit it, we’ve dreamed of early retirement, but who hasn’t? It’s not necessarily related to job satisfaction, but imagining how you would spend your days if you were footloose and fancy-free can be an entertaining exercise. And we know we’re not alone: the recent FIRE (Financial Independence, Retire Early) movement is symbolic of the increased desire by some individuals to minimize their number of working years. The FIRE movement encourages living in a highly frugal manner in order to save early in life, and then retire with a minimalist lifestyle.
