Not everyone wants to retire in their 30’s. From the looks of those who do, they have to be in a six figure salary, save 70% of that income, downsize into a smaller, cheaper abode, drive a bike vs a car, forgo all Saturday night cocktails, international travel, consumerism and remain childless in order to attain true financial freedom, thus retire early.
Odds are looking much clearer that those who follow the above early retirement foremat wind up divorced. Or worse, single and alone. Does that mean that those of us who earn $50K, $60K or $70K will have a happier more balanced retirement when we retire at age 65? I think it’s all a matter of choice. How productive do we want to be? How much sacrifice and effort do we want to put into our retirement planning?
Me? I’m probably the laziest retirement planner you ever met in your lifetime. I retired young (50) simply by selling my home of 16 years and being satisfied with the equity I earned. I calculated if I was super frugal for the rest of my life, I could survive quite nicely on my equity. Just me. Not hubby. He had to keep earning his keep.
DH and I are finding ourselves once again in the same situation. With a half million of equity sitting once again in our current, already downsized home, its an offer that can’t be refused or ignored. No working two jobs, going without, going without a car, or sacrificing in anyway. Just plain old accrued equity piling up on a mortgage-free home.
Your retirement is the way you make it to be. You can work long and hard for years or you can be like me and let your real estate do the working for you. My secret was buying right, in a good neighborhood, keeping up with all maintenance and repairs, installing trendy upgrades, never borrowing out any equity and having a celebrity as a neighbor (great selling point). I’ve hit the grand slam again. It’s just a matter of coordinating, if and when I sell.