Retiring early – especially by 40 – may not be easy, but it’s no more complicated than retiring at any other age. It’s still “just” funding your income for the rest of your life. Of course, when you retire at 40, that means you add another 25 years to your retirement, and take away 25 years from the time you have to prepare for retirement. But it’s doable. Just like any financial plan, it’s a question of how much you want to spend, and how much you can save. That first part – how much you want to spend – takes on an even bigger role when you retire early. Figuring out your goals is incredibly important for any financial plan. Those goals are the foundation the plan is built on. But, for most people, it’s incredibly hard to accurately predict what they want to spend in retirement. You’ll pick up a new hobby, or realize you forgot to account for something, or your priorities change through time. And this is just for a typical thirty-year retirement. It gets even harder when you double the length of your retirement – especially since you’ll be young and active for so much […]
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