Following the young investors thread, I wanted to share thoughts with everyone on the concept of retiring young. Most of us invest in property to increase our wealth and income. The ultimate goal for me is to be able to quit my job and enjoy my life however I want to.
Now, retiring in your 30's or 40's has its own problems. e.g. all your friends are working, so what do you do all day? Who will you go out with? I think anyone who wants to retire early has to think about what they intend to do during retirement, or risk going nuts.
So, for those who intend to retire in their 30's or 40's, what do you plan to do during retirement?
My own plan:
Do project based 'work' (renos, small developments, duplexes, units, townhouses) for a few months of the year, then spend the rest of the year not working, but keeping busy with courses (maybe go back to uni to do something I like), travel, pursue hobbies like cooking, writing, etc, spend time with my family (currently lower on my list since I'm not married and I don't have kids), etc.
Also, very important: try to get a group of peers together of similar age who are doing the same thing.
Finding such 'peers' is surprisingly difficult. Lots of my friends are interested in shares and property, but few make the mental leap to 'want to retire at 40'.
Interested to know what everyone thinks.
Now, retiring in your 30's or 40's has its own problems. e.g. all your friends are working, so what do you do all day? Who will you go out with? I think anyone who wants to retire early has to think about what they intend to do during retirement, or risk going nuts.
So, for those who intend to retire in their 30's or 40's, what do you plan to do during retirement?
My own plan:
Do project based 'work' (renos, small developments, duplexes, units, townhouses) for a few months of the year, then spend the rest of the year not working, but keeping busy with courses (maybe go back to uni to do something I like), travel, pursue hobbies like cooking, writing, etc, spend time with my family (currently lower on my list since I'm not married and I don't have kids), etc.
Also, very important: try to get a group of peers together of similar age who are doing the same thing.
Finding such 'peers' is surprisingly difficult. Lots of my friends are interested in shares and property, but few make the mental leap to 'want to retire at 40'.
Interested to know what everyone thinks.
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