Early retirement means different things to different people. It invokes excitement in me not because I can retire, but because I can pursue my dreams and interests. Financial independence allows us to make bold and confident decisions that we could never make if were otherwise reliant on money.
When I refer to early retirement, I don’t refer to full time leisure. Lying on beaches sipping cocktails and travelling full time. That will get boring quick. I realise that a successful retirement relies on us being motivated and challenged. Having a reason to get up in the morning. That may involve some form of work that may or may not be paid.
That is why I have written previously about the early retirement definition being outdated.
If you remove that incorrect, outdated definition of early retirement, and replace it with an ability to pursue one’s dreams, it all of a sudden becomes a much more exciting prospect for many people. It becomes much more attainable too. Depending on your dreams of course.
A lot of people can’t pursue their dreams because they have huge financial obligations and their dreams don’t pay the bills. Once you have enough money you can get to a stage where you can both pay the bills and pursue your passions. Now that is a goal worth striving for.
If you don’t know what your passion is yet, you can try different things. Don’t like it, you can walk away. It doesn’t matter as you don’t need as much money. Then keep looking for other opportunities that interest you. No need to rush into anything.
My dreams are centred around creating more time. My dreams are:
Part time work or work that I can do remotely at any time.
More time with family so that I can be active in my children’s upbringing and schooling.
Volunteering in the community as a budget adviser and a local sports coach.
More physical activity, including walking, running, tennis, and weights.
I am sure my dreams will change too. We are always evolving and growing as individuals and what I enjoyed 15 years ago is not what I enjoy now. I am sure what I enjoy in another 15 years will not be the same as what I enjoy now. Our dreams will change. But that is the beauty of financial independence. It allows us to pursue these ever-changing dreams.
I can’t do all these until I am in a good enough financial position to leave a good paying full time job. Sure, if I took on a low paying job or a part time job now I could do the above, but it would still mean I was reliant on the income. If I can eek out another couple of years at the full-time job, then money will become less and less important.
It is a very hard decision to make as to how long to work in an unfulfilling, yet high paying job. Everyone’s jump off point will be different.
There are so many opportunities that I want to explore and experience. I just need to find the point where I am confident enough that the plan will work for me and the family. Pulling the plug from full time work early enough while still have the energy to pursue whatever it is that I want to pursue.
Whatever your early retirement dreams are, be it a artist, writer, world traveler, or starting a new business, early retirement is more about pursuing your dreams. Once you have strong enough dreams you will do anything you can to make it happen, and that often starts with our finances.
Thanks for reading.
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The information contained on this site is the opinion of the individual author(s) based on their personal opinions, observation, research, and years of experience. The information offered by this website is general education only and is not meant to be taken as individualised financial advice, legal advice, tax advice, or any other kind of advice. You can read more of my disclaimer here.