Wednesday, May 5, 2010

Extreme Early Retirement

Extreme Early Retirement

I talked about Early Retirement, in one of my previous posts and about the reasons why I want it. But there is a more extreme approach out there, called Early Retirement Extreme. It's basically retiring before you're 40 years old. This is a whole different approach. You can not use the power of compound interest, because that requires time. And add that time to your age and you will be above 40 years. But it's possible to retire this early.

Source of inspiration

I'm a fan of the early retirement extreme blog. A lot of inspiration I need, comes from that website. But I must say that there are other people, who follow the same thought pattern, who do things differently. They are just as good of a source of inspiration...

Extreme early retirement... is it something I can achieve? Retiring before 25 is not possible, because I'm already past that age, but could I retire in my 30's. This is a question I asked myself, and I'll give you the answer. It's in my blog... with every post I make, I'm slowly, but certainly answering that question. I'm not there yet, but it has inspired me to try it.

If you see something you like, but you don't know if it will work for you, try it. Don't keep dreaming about it. I live a simple life now. It could even be simpler, but I'm working towards it. I had clutter, removed some of it, but I'm still getting rid of things. I save money, but I try to save even more, when I can, wherever I can. Unless the money is used on something that improves me, only if it's not too expensive.

Every year, I look at my financial status and I can see some improvement. I let this drive me. It becomes a hobby... no, a passion to try to improve my situation. I will get to that point. And even if I can't retire before 40, I'll make it in my forties for sure, due to the power of compound interest. No effort you make, in trying to retire extremely early, is wasted. It's all beneficial and it's all worth it.

What to do

Some people think it's crazy to retire that early. They simply wouldn't know what to do. I think it all comes down to your imagination and your interests. If you don't have anything that you're interested in, that can fill your days at retirement, then by all means, continue working. Perhaps you even like working. But for me, there's too much to do in this lifetime, to not be able to do it because of work. I want to do most of it in this lifetime and I'll try anything to be able to do it.

Would you honestly, want to work for the rest of your life at your current job? If so, why?