I guess that most people never thought about to retire early like 30s as it sounds like it's impossible and ridiculous. They thought they'll retire at 50s or 60s and after that they don't have income anymore.
Therefore, they work hard during they're still young — the period that they can bear with the difficulties and are willing to take challenges in life. Working very hard day and night, doing several jobs at once, and seeking around to find profitable opportunities — to save as much money as possible so they can sustain their lifestyle after retirement.
However, here's a fact that many people miss out. The value of money that they saved during they're young is not the same after they're retired.
The price of everything will be higher due to inflation in the following years. Therefore, the hope that setting a savings plan to sustain your life after retired is not as much logical as you think.
You have to sacrifice your time to earn more and more money during your golden ages, but not becoming wealthy and doesn't ensure your lifestyle after retirement. Which means that you don't have your time and money but busying for years. At last, you lost your freedom and there's not much money with you. What a wasted.
That's why I come with the mindset that I need to retire young. I'm not willing to lost freedom but still have to worry about the financial problems.
Break the life model
Did you notice that most people have similar life model?
Although they're not living in the same country, or having common background, but their life model is similar to other's life model.
People are unique, but you can see everyone has the same storyline — study hard in college/university, work hard in company, save money in bank, marry a spouse, work until retire, and then do nothing.
You see, there's a routine that majority of people are going through. They study hard in college/university just to find a good job with high salary after graduated. Later, working very hard in that company to win promotion opportunity to get higher paid.
They save their money with blood and sweat in bank for retirement purpose. After retired, they realize that their dream is still hold in the past, and now they're old, not energetic enough to achieve their dream. And they further discover that their money in bank is not as much as they think.
This life model is not attracted to me. And we should create our own life model as that model is not an ideal model. Therefore, you should break that rigid model by retire as early as possible.
5 benefits you will gain if you retire early
Retire early has one great advantage, that's gain your freedom.
As you retire young, you'll have your own time to do what you want to do, enjoy what you want to enjoy, try something new never try before, etc. Freedom is the best return of retire early.
Generally, there are 5 benefits of early retirement.
1. Accompany your child
Here's a fact that most people who working in office for long time don't have time to accompany their kids.
This is matter because the memories of childhood are always the memories that ingrain in our brain. If you can't accompany them, then in their memory will become you're not around when their childhood.
Not to mention that childhood is the most happy moment for most people. You want to participate in your kid's happiest moment, right?
If you're not retiring early, chances are you spend most of your time on making money. You'll miss the nice and amusing moments in life.
2. Enjoy your life
After retirement, you're free. You don't have to go company on time and working around 8 hours a day. You don't get trapped in office to settle a mountain of documents.
Therefore, you can truly enjoy your own life. Drinking coffee at yard and relax yourself. Life is to experience, not to busy with work. Go to explore the world, expand your vision, and increase your knowledge.
3. Give time for loved ones
Working for long time in office will sacrifice your time to be with your loved ones.
Your parents, your spouse, your friends and others you loved need to know you think and care of them.
However, people now don't have time to accompany their loved one even their own parents. You want to maintain connection with them, you want to be with them, but you've trapped with your office job.
If you retire early, you'll have more time to accompany your loved ones. Nice.
4. Find your life purpose
Work blindly for making money shouldn't be your life purpose. You have your dream, you want to realize it, you want to make it comes true. But you give up your dream as you want to spend all your time only to earn money.
Life purpose is very important, it's the backbone of your life. Don't forget your life purpose due to financial issues. You should retire early to earn your time so you can chase after your life purpose.
Don't sacrifice your life purpose to save money but forget what is meaningful to your life.
5. Healthy lifestyle
If you retire young by building a passive income system, you will have your own time to do whatever you want to do without worrying the financial status.
There're unlimited time for you to discover your life, experience it, feel it, enjoy it, or do something meaningful to your life.
There're many people busy with chasing money, but no time for them to rest, meditate, settle down and ask themselves what kind of lifestyle they truly want. Living for money is not an ideal lifestyle.
Discover your life purpose as early as possible. You can create your own lifestyle if you're serious to make it.
How to retire young and retire rich?
Now you know the benefits of early retirement, but how can you really retire young? How can you retire early but never worry the financial problems?
The answer is to build your passive income system, the system that allows money flows to you like water from water pipe.
If you have passive income and that amount is bigger than your monthly expenses, then you've positive cash flow.
Which means that even if you don't work, but you'll have enough money flows to you to cover your monthly expenses, so you can replace working to something else that you'd like to do.
Once your passive income can afford your monthly expenses, you're retired. And if your passive income system is awesome, not only cover your expenses, but also have extra big amount of money for you, then you're qualified as retire rich.
If you're working for others, then think yourself, don't simply take my words, are you really enjoying your current lifestyle?
If you don't enjoy it, why? Do you like your job? Do you think your current lifestyle is what you desired? You have to know that it's your choice to live any lifestyle. Even though you dislike the lifestyle currently you're in, but it's your choice. You choose it for yourself.
If your preferable lifestyle is to be retired young and retired rich, then no matter how, you have to consider the passive income.
Online business is one kind of passive income models, which has the ability to help you earn money while you are still sleeping at night. There're still many ways to earn passive income, choose the one which is suitable for you, don't waste your time anymore.
Rio Yee is the Founder of WealthyLoveLife and is super passionate about helping people change their mind and take action to improve your important areas in life such as dating & relationships, personal finance and productivity.