Pretty soon the retirement age where you can receive full social security checks will be 70 years old in the US. This is of course assuming social security is still around and you live to 70. When my grandfather was in his 70’s I asked him why he and grandma didn’t travel much and he said “we’re too old”. I couldn’t relate, but it makes sense that to enjoy traveling and spending time doing the things you desire, you’ll want to be physically and mentally fit. Good health later in life isn’t guaranteed, so if you want to travel and pursue your passions, it’s better to do them sooner than later.
My wife and I “retired” at 40 and live on our rental property income, and the experience wasn’t what I expected. Exiting full time careers and a life stage where you’re “over busy” with life to then having 50 times more free time is different than you might think, and comes with some surprises. An early retirement advisor can help you avoid becoming bored, not having an identity, or becoming too busy with things unimportant to you. Your time will get filled one way or another, so having a purpose and spending time on your passions is essential.
Topic areas
- Budgeting and having a safety net of margin.
- Find your new identity and add value.
- Keep your brain sharp and learn something new.
- Discover your passions and pursue them.
- Focus on your priorities and find fulfillment.
- A healthy amount of volunteering.
- As weird as it may feel, say “no” to people that want your time.
- Transition to your new life and don’t be in a rush.
- Rekindle old friendships and make new ones.
- Improve your health and reduce stress