How To Quit 9 to 5

We love everyone to go to work every day and prefer to sleep in, be out and do what we really want to do – right? Wrong! Almost everyone would reduce their hours or retire completely, immediately if they knew they had the money to do so. There are some people who make that dream a reality, however, with a lifestyle called FI / RE – Financial Independence, Retire Early.

Those who live the FI / RE lifestyle have the same goal – secure enough money to retire much earlier than the average person. Although the details of how they achieve it vary depending on each individual’s income and life situation, the general principles of everyone apply:
Start with a goal

The first step to successfully joining the FI / RE lifestyle is to nail down a concrete reason why you want to do so. Saving to retire early is difficult – the sooner you strive to retire, the more difficult it becomes. If you are to be motivated, you must be able to visualize the desired life with clarity.

Start by asking yourself what you would do if you didn’t have to work for money. Note that this issue does not involve unlimited money, just unlimited time. This question will determine the rest of your approach, budget, and limitations that need to be introduced to meet your goal. Common goals are:

Travel the world, rent home for a few months in each country
Outdoors explore
Make art or music
After another passion that doesn’t pay enough for you to run now

When you have a reason to want to retire early, you can start planning and acting. The inevitable fact about FI / RE is that it requires a significant discipline, and you have to work aggressively to save as much as possible while increasing your income at every opportunity. If you can’t make the pension early a high priority, this lifestyle will probably not be for you.
Redesign your life

When you try to retire early and with significant savings, the name of the game is simplification. You try to reduce the amount of money you spend as much as possible, without making your life unhappy. This means saying goodbye to most expensive splurges, mindless impulse buying, and minimizing any unforeseen, unnecessary purchases. Keep your financial eye on the price: Never have to work another day in your life. Do you still want the designed coat or need your daily coffee run?

You do not need to start at full steam. A good way to get started is to analyze each aspect of your expenses and consider whether there is an equally appealing option that costs less. If you live in a high living area, is there a way to move to a cheaper place? This is especially easy if you are working remotely or if you are working on a field that is in particularly high demand, but also applies to professionals who may be low-income but useful everywhere, such as hospitality, teachers and medical staff.

Think of all the non-essential expenses you can reduce. Restaurants are usually first on the chopping block (asked dum, pee) and are often replaced with a new interest in cooking at home. Hotel holidays can be replaced with camping or hostel whenever possible. Take the time to really consider why you want to spend money on something, and if you can get the same value out of a cheaper or free option. Weigh Every Expense Event Like “Is This Worth Waiting Another X Days To Retire?”
Increase your income

No, FI / RE is not about working ridiculous hours every week until you exhaust yourself. But it’s about finding ways to increase your income whenever possible.

Depending on where you are in your career, this may mean:

Invest in training to improve your job prospects (especially with online courses and certifications).
Examine passive income opportunities such as writing an e-book or renting the sword on your property.
Ask for information and promotions, be more receptive to recruiters or look for a new position.
Create a side company that involves either your hobby or your most marketable skill.

How to Increase Your Income is Up to You – The FI / RE lifestyle is about keeping your eyes open for opportunities and aggressively driving them, but you fit. In order to really qualify as part of this hyper-sparse goal-oriented subculture, you should strive to save at least 50% of it for your early retirement.
Learn to invest

Investing is one of the topics that makes many people shy away from frosting or simply leaving when it is busy in conversation, but it is extremely important, especially when you like having disposable income and lots of zeros on your bank statements.

It’s just so much to save and serve as the average person can do without comfort, which is why investments are an important part of FI / RE – it makes your money for you. The way you invest is up

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