I absolutely love the idea of early retirement. Although I wholeheartedly believe in living in the present moment, we must remember to plan for our future too – so we can continue to enjoy the ‘present moment’ beyond our working years.
I felt very inspired by an article written by Grant Sabatier who reached financial independence by the age of 30. He wrote about five steps on how to do it:
1. START BY DOING THE SIMPLE MATH: HOW MUCH DO YOU REALLY NEED? (IT’S LIKELY GOING TO BE MORE THAN YOU THINK)
2. THE ONLY BUDGET YOU NEED: FOCUS ON MINIMIZING YOUR THREE GREATEST EXPENSES (HOUSING, TRANSPORTATION, & FOOD)
3. SIDE HUSTLE TO INVEST
4. INCREASE YOUR INVESTING RATE AS QUICKLY AS YOU CAN (25%+ IS IDEAL, BUT WITH EVERY 5% YOU CAN RETIRE UP TO 10 YEARS EARLIER)
5. THEN TAKE IT ONE DAY AT A TIME, BUT BUILD THE BEST DAILY HABITS
The steps are fully explained in the original article, which is available here: