As you can tell by the title this article is about retiring at an earlier age and then making money later. In this article it explains that after you work for about 15 year and save up enough money you can retire at a fairly young age. It argues that after you retire you can go through the rest of your life with that set amount that you saved and have a steady yearly spending, or listen to Mr.MoneyMustache. If you have the steady spending, you might have enough money for your life, but if you listen to MMM then you will have more money then you need by the end out you life.
MMM has a few tips for making money, he says to trade down to a better car, can use hypermileing tips to save money on a car. Have a part time job that you enjoy to do, slowly get away from spending money on gadgets. With these tips you yearly spending will decrease by quite a lot, and then with the money you gave saved up that is growing in the bank added to this will slowly begin to even out. Then he talks about getting married and have a combined retired savings account, and as you use the tips he gave to save money you will soon be making money as you retire. Then later in you life you can have millions saved up for you to spend.
He argues a lot to live a simpler life that will in return give you more money to use, and I agree with that thought because that's a great way to save money. This idea of his is very possible for people to work with, but it does have a few flaws. One of which is saving up enough money in the first place to have this plan work. He talks about saving $500,000 and this could take some people many more years to obtain. Also finding the wrong savings account, and the economy could ruin you savings.
http://www.wikihow.com/Retire-in-Your-30s
MMM has a few tips for making money, he says to trade down to a better car, can use hypermileing tips to save money on a car. Have a part time job that you enjoy to do, slowly get away from spending money on gadgets. With these tips you yearly spending will decrease by quite a lot, and then with the money you gave saved up that is growing in the bank added to this will slowly begin to even out. Then he talks about getting married and have a combined retired savings account, and as you use the tips he gave to save money you will soon be making money as you retire. Then later in you life you can have millions saved up for you to spend.
He argues a lot to live a simpler life that will in return give you more money to use, and I agree with that thought because that's a great way to save money. This idea of his is very possible for people to work with, but it does have a few flaws. One of which is saving up enough money in the first place to have this plan work. He talks about saving $500,000 and this could take some people many more years to obtain. Also finding the wrong savings account, and the economy could ruin you savings.
http://www.wikihow.com/Retire-in-Your-30s
Kishan i agree with what you said, i think that you were whole heated and sincere when you wrote this. Nice job.
ReplyDeletegood points, both the positives and negatives. I know multiple peoples whos entire savings were essentially ruined by the recent slump. And the idea of saving $500,000 to start with is a huge undertaking in itself.
ReplyDeleteThis is a very good point, it would actually make a lot of sense to retire at an earlier age in many situations. You work a job to make a down payment on your retirement, then you have a part-time job to maintain and slowly add to your down payment, eventually you'll completely "pay off" your retirement and still enjoy your life because you've essentially spent a small fraction doing what you did not want to instead of the 40-50 odd years that most people spend.
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