How Much Money Does It Take To Retire?
How much will I need to retire? Many pose this question to themselves...it is the wrong question to ask.
It should be how much longer can I wait before retiring. The longer you wait to retire the less time you will be retired. Do the math, time does not stop while we acquire more wealth.
When focused on nothing but money, retirement planning overlooks a fact we are all aware of. As we age we are less able to physically do what we could do when we were younger...no surprise to anyone.
If you think I am referring to sex...you are partly right, but there is more. We all develop ailments, aches etc as we age it is a fact of life. Despite our efforts on the stairmaster it is a fact. You slow down as you age. Think about it when you plan for retirement.
As an example let's say you want to play a lot of golf when you retire. Great, sounds like a plan. Now ask yourself how much further do you hit the ball now, than 10 years ago...equipment improvements aside? See what I mean?
Why wait to reach your retirement number. I hate that commercial. If golf is your thing why wait 5-10 years from now to retire? You know in your heart you are going to be able to play golf less and you are not going to play it as well as you do now.
I retired at age 49, fifteen wonderful years ago. When I told my friends I was retiring they would ask...how much money to retire? Now... these same friends are still working, have lots of money and are all in poor health.
I contend there is no correct answer to how much money to retire. We retired to a sailboat in the Caribbean 15 years ago. I doubt I am presently physically capable to perform some of the necessary boat tasks that come up. I am 64, then I was 49...big difference.
If you have seen your investment portfolio tank...mine sure has...it is not the end of the world. The key is to explore ways to retire that do not cost as much as you think you need. Then retire early while you can enjoy yourselves. Here is how we did it.
Here is how found the answer to how much money to retire? If you would like information on the different frugal retirement living lifestyles we have enjoyed for fifteen years. Do not quit on retirement, visit this site.
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