Early Retirement

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Welcome to my blog. I am good and hope you all are also fine and enjoying the life.

Source - Gemini AI

I was browsing though the random feed on my phone and one article took my attention, and it was about the retiring early. Most of us want to retire early so that we can enjoy the life without any financial burden. This is the new trend in youth as they come out of the early mentality of working all life and building the wealth for their entire life and when they have enough wealth they feel that they are too old to enjoy many things of life. They loose their charm, they loose their teeth, they loose their eyesight so the wealth is of not much use for them. Te youth don't want to wait and want to enjoy the life for early days itself. The change in trend has been observed after the COVID 19 mostly.

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Start Early

When a family has two earning members then the things be one more easy when we talked about the financial freedom. The main advantage in such case is that the earning of one person can take of the home requirement and the other can take the risk of investment in even high risk options. And the things be one more easy when we are unmarried and earning good. It's not an easy task to manage the financial when we have kids and more commitments.

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Changes after COVID 19

As I mentioned in the above that I have observed the new trend of retiring early after COVID 19. This is the one thing which is good change post COVID 19. People start listening to their internal and want to enjoy the life as many of us have seen the death very closely. We lost many of our loved one and this change the mind set of many of us.
I know some of my known form the IT sector who work form the home during the COVID 19 and to earn extra they joined two companies at one time. One company was working as per local timing and other was as per the overseas timing, in this way they were managing.

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Importance of Financial planning

We all know that the financial planning and financial education is one most important part of our life in present day as all things are materialistic now days. But one one big mistake we all do is ignoring it even knowing the importance. Most of us lagging in saving, in investing regularly and less spending. The moment we start earning our mindset changes form saving to spending and the moment we start earning more we start spending more instead of saving more. I am not saying that spending is bad but saving is also important. We all know start saving in early stage of our career is always good as in this way we can accumulate more corpus which is beneficial in later stage of our life or even for early retirement. After marriage no doubt our responsibilities increases and when we have kids they increase even more. Now days in developing countries the cost of education is too much and parents has to plan for their higher education in early stage itself so that they should handle the unexpected risks.

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Understand the Discipline

The family and the luxury both are also important. If we are earning then it is to make our life more comfortable so it's not bad to spend on ourselves. Living is present is good other wise the life is not so comfortable or healthy in old age and even if we have good wealth we are not able to enjoy it because of different issues in old age. So spending and saving in disciplined manner is good option. This may required to make some changes in the way we are living but give a good fruit if so it in planned way. In this way we are not cutting down our spending much as small amount in saving or investment but in a discipled way is good start for a early retirement. In many success stories around me is example of it, they were not born with silver spoon and started for scratch but planning and disciplined was the major key factor in their success.

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