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Should I Think about Retiring Early?

September 24, 2019 by Lazy Man 4 Comments

I was reading an article at Adventures in Money Making where a couple explains how they retired on $2000 CDN – yes it’s not even US dollars.  And their retirement sounds like good – not like they are skimping.  Amazingly that dollar amount (around $1,760 US) is just a little over my goal for Alternative Income Streams, something that I thought I could achieve ten years.

I highly doubt that I’ll be able to retire then.  If for nothing else, my fiancee and I hope to be in the middle of raising a family.  It’s still nice to know that retirement is possible if something should happen and we can’t get to our retirement goals.

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Comments

  1. prlinkbiz says

    November 3, 2006 at 8:13 am

    Personally, I set three goals for myself. I became financially free when I could bring in $2500 a month passively (no work on my part). My next goals are $10K a month passive and $1 mil passive and then I’m out.

    So, yeah- set a secure goal, then a comfortbale goal, and then a rich goal and work towards those. Learning to make your money work for you will allow you to be a better husband, father, etc. because you won’t be living to work- you can be there for your family or do the things you really want to do in life without worrying about the money.

    My two cents!

    Reply
  2. Foobarista says

    November 3, 2006 at 1:03 pm

    One thing to remember: this trick is easier in Canada, where a national health scheme is in place, than here. I don’t actually advocate for these, but they do make it easier to retire early.

    Reply
  3. StingyFinance says

    November 8, 2006 at 10:11 am

    Retiring early definitely has it’s perks! However, if you are a professional, you will be missing out on your highest paid years when you leave the workforce early.

    Reply
  4. lazymanandmoney says

    November 8, 2006 at 10:16 am

    I’m a software engineer, so as long as I have ideas and a way to express them through software, I’m probably not going to fully retire. However, I would like to be in a situation where my projects could be loosely scheduled so that on any given month, I could take time off on a whim.

    I’m sure I could do this via independent contracting, but I’ve tried that and it can be more stressful not knowing where the next check is coming.

    Reply

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