The Struggles of Retiring Early & How to Overcome Them

Most people say that, at my age, it is early to think about retirement. But the rat race isn't something I intend to participate in forever.

Most people would say that, at my age, it is too early to think about retirement. Still, the rat race is not something I intend to participate in forever. There is no point in working until you’re 70 if you have a realistic chance of retiring early. With so much to do, so many places to see, and so many people to meet – I wouldn’t want to miss any of it. I hope I can cut back on my working hours soon enough and ultimately retire early. Such a dream, however, isn’t easy to turn into reality.

Save money to avoid poverty in old age

The first step I need to take – and the move you should make if you wish to retire early – is to save as much money as possible. You won’t achieve much if you decide to skip this one. In order to save for retirement, you will need to cut on your spending, ignore the cravings to purchase luxury items you don’t need, fast forward on fast fashion, and simply look to live a bit more frugally than you did before. You’d be surprised how much you accumulate if you remove impulse purchases from your life. Simply remain focused on your goals. Retirement saving is a project that can take decades so it’s better to start sooner rather than later.

Plan well for all eventualities

Accumulating funds, however, won’t get you far unless you have a good plan. It is important to outline your goals and know where you want to be in 20 years’ time. There are many variables to take into account. Having a clear idea of how you want to live is not something that comes naturally for everyone. It may take a bit of effort to crystallize your dreams and plan retirement accordingly. Do you want to spend your golden years by the sea? Abroad? In your hometown? Do you own property or will you rent? All of these questions (and many more) will have to be answered if you are aiming for early retirement. Take your time.

Compare retirement options & minimize risks

Many different companies will offer diverse retirement plans. If you wish to commit to one such ready-made arrangement, you will need to find a way to compare them. Of course, the key factors to consider are the amount you will have to pay in advance, and the sum you will receive on a monthly basis once the returns start rolling in. In addition to knowing your retirement limit, remember to find out whether healthcare insurance is included because, the older you get, the more you are likely to need it.

With certain services, you will even be able to create your own custom plan, deciding on what is a good amount for retirement based on your own needs. Whichever path you pursue, leave no rock unturned and no possibility unexplored.


Not everyone wants to work forever. In fact, more and more people wish to retire early. If this is your goal, you should make an effort to save as much as you possibly can and remove wasteful spending from your agenda. Plan well, have a clear idea of how you see your future and take the time to compare different pension plans. Invest in the one you feel confident in or find a flexible company that will let you create your own. Such an approach will allow you to create a safe and secure future for yourself and for those you love.


Money Journey

Money Journey

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