4/3/2023 0 Comments The shockingly simple math![]() If you’re enjoying your initial volunteer experiences, you make it part of your regular weekly schedule. Language learning could inspire a future vacation travel destination, or even a several month long language immersion experience! Or learning a new (or long forgotten) language, setting aside time every day to study and joining local language practice groups. Leveling up retirement activities could include picking up a new (or long forgotten) musical instrument and devoting an hour a day to practice. Buying things and taking vacations is fun for a while, but ultimately this “consumption” is unlikely to fulfill your emotional and spiritual needs. The key here is to consider what makes you happy. Once the first few months pass, you can “level up” any of the activities above. Barista FIRE related part-time jobs may make extended travel difficult, though it can still be possible if the work can be performed remotely. Without a regular job, retirees can travel “slow”, extending stays in different locations and avoiding weekend or holiday travel to score the best deals. Travel: Travel is a common retirement goal, and retirees often dedicate time to visit friends, family, and bucket-list locations.Volunteering helps connect you to your community and expand your social network. Volunteering: There is no shortage of opportunities to volunteer at schools, shelters, hospitals, libraries, religious institutions, and community centers.Fitness classes at your local gym and cooking classes are a great way to dive into these goals if you’re not sure where to begin. Health: Retirement is a great time to reprioritize your health with regular exercise and healthy eating.Community based adult education courses can help introduce a new hobby or get reacquainted with something you used to enjoy in the past. Hobbies: These can include arts, crafts, sports, music, photography, or gardening.It is important to note however, that this math often ignores cost of health insurance and potential future increases in housing, energy, and food prices.Īs the euphoria of leaving the rat race sets in, many new retirees spend early months of retirement exploring the “entry level” activities below: Money Mustache describes the philosophy best in this World Domination Summit presentation below and this article: The Shockingly Simple Math Behind Early Retirement. This is when most retirees confront a challenging question: how to spend time to maximize happiness instead of income? Step two, retire early, is to ditch the job entirely and retire early, spending the rest of your days living off your savings, investment, and other income streams. This can be achieved through a combination of investments, passive income streams, and reduction of annual expenditures. Step one of this approach is to achieve financial independence, whereby all expenses can be met without relying on a traditional job. ![]() The popularity of early retirement is rising with the growth of the “FIRE” movement, short for Financial Independence, Retire Early. This is particularly important for individuals who choose to retire early, i.e. I’ve also observed how friends and family transitioned into retirement, and my key takeaway is to plan ahead to avoid disappointment, boredom, and regret. ![]() While I haven’t retired early just yet, I have spent a lot of time exploring what I want to do with my spare time. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |