There are definitely two sides to this debate. Should you save up fast and furiously to get to financial freedom early and retire young or should you just do it at the “normal” pace like the majority?
On one side of the coin are the folks who subscribe to the FIRE method (Financial Independence, Retire Early). They say retiring early is a great idea – you get to enjoy life longer, spend time with your kids while they’re young, do all the activities you’ve planned for before you’re too old to take part.
But on the other side of the coin, here’s some reasons NOT to retire early:
Here’s why you shouldn’t retire super early — even if you can …
There seem to be a lot of downfalls to early retirement, including loneliness, lack of active income, identity crisis from not having a definitive title when someone asks “What do you do?”
But are these issues really drawbacks? Only you can tell for sure.
There are many ways to avoid the downfalls that are described in the above article – for sure, you might feel isolated for awhile after leaving an office job, but there are other activities to take up your time.
All I know for sure is that it’s a great idea to have a side hustle that brings in a little money every month – whether that’s $25 for the coffee you like in the morning or $2,500 for a payment on that great new car, the extra cash is sure nice.
If you don’t even know what kind of business you want to start, check this out. It might help you make up your mind!
Till next time…