Some people dream about finally being able to retire because of how hard they have to work each day. Retirement might seem like an elusive thing that is always far in the distance. However, some people have retirement goals that involve them being able to retire early. Is this a realistic goal, or is it something that is likely not going to happen?
Retiring Early Is Very Hard
Retiring early is very hard because you’ll need a lot of money to live. If you aren’t working any longer, you’re going to need to have income coming in from somewhere so that you can maintain your standard of living. For most people, retiring early is simply not going to be realistic. Unless you managed to make a lot of money early on in your career, it’s likely not going to happen for you.
The answer to this question also depends on what you mean by retiring early, though. For example, is retiring early referring to retiring a few years before you reach a typical retiring age? If that’s the case, then this might be plausible for you to achieve. Things are going to be quite different if you want to retire in your 30s or 40s.
Semi-Retirement Might Be an Option
It’s also good to note that retirement can mean different things to different people. For instance, some people retire from their regular careers and have other ways of making an income that doesn’t involve working. A retired worker might have invested their money wisely and will be able to make income off investments such as rental properties or stocks. Individuals like this might not work a traditional job any longer, but they’re still earning.
Semi-retirement is something that many people wind up doing in different ways. Some individuals will take on freelance jobs when they retire from their normal career early. They might work a little bit to bring in extra money while living on investments and pensions. For these people, early retirement is something that they sort of achieved even if they do choose to work sometimes.