Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network. Who doesn't want to plan for early retirement?! Man, if I could retire tomorrow, I would… and I'm still in school and haven't even really started my career yet! Don't get me wrong, I'm not a lazy slob or anything. I just associate retirement with financial freedom. I guess everyone has a different definition of what it will be like to be retired but my version means not having to live on a strict budget. And the earlier I can retire the better.
I would still probably go to school and spend my time “working” but not actually having to work would be my perfect early retirement plan. I really do enjoy working but the constant stress of making ends meet really drags me down.
Early Retirement Plan
Well, since I'm already 29 years old and haven't even started thinking about this, I'm not sure just how early I will be retiring. But, I'd rather start now and not wait any longer! Genworth Financial offers some great articles and resources to get you ready for making your plan. And with simple small changes to your budget–that won't significantly alter your life now–early retirement is not just a fantasy.
I found this article about Lump Sums pretty interesting. I wouldn't mind having this problem but I can see where you can get into trouble. If you happen to fall into a bunch of money, like a settlement or a lottery win, receiving a lump sum isn't necessarily a great idea. So many people blow through it so fast that they have nothing to show for it and wind up back at the office in more debt than ever. The trick is to generate a constant flow of income. That way you won't be tempted to overspend like crazy and if you do, at least you'll have time to get it right with the money that keeps coming in.
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