It is not uncommon to hear people talking about wanting to retire early. It always comes with “I will get rich and retire early”. The ability to retire early seems to be possible only after getting rich first. So they end up living a tiresome lifetime of chasing after money. At the end, do they get rich and retire early? The answer is – they slave hard for more than four decades, often in jobs that they despise and they are still not rich when they eventually retire due to old age.
The hard truth is : If you are not getting rich in your 20s, you are partying too much. If you are not getting rich in your 30s, you are procrastinating. If you are not getting rich in your 40s, you are still waiting for the right opportunity. If you are not getting rich in your 50s, you are lamenting that life is not fair.
The question about “can I get rich and retire early?” does have an answer. We can all retire early if we want to. It is about working out the cost of your expenses. As long as your passive income is able to cover all your expenses, you are good to retire. Therefore, it is not necessary to get rich and retire early. I would say once you achieve financial independence, it is time that you can retire as you only work because you want to not because you need to.
The fact of life is and I have not seen any exception that people who can afford to retire at whatever age in their life, have all worked for it! How long and how much they need depends on the lifestyle that they want during their retirement.
Work out what you need to retire and start building your streams of income. If you are still in your 20s, and you are reading this, I want to congratulate you. This is the time to work. It is the best time to create an exponential snowball of money, skills, and friendships. I have a real live example of a new real estate agent whom I was training. He is in his twenties. Unlike his peers, he has a goal and he does not lose any of his time working to get to it. He is teachable, sponge-like and inexhaustible, always open to new opportunities. In just 2 months, he has made an income of over $80K. But it does not mean that it is the end of the world if you are in already in your forties or fifties.
George Eliot said, “It is never too late to be what you might have been.” Take Action today and start to get rich and retire early! Remember, whenever there is new opportunity, it will create a new group of millionaires.