Planning For An Early Retirement? Know The Basics To Reach The Distant Goal Comfortably

Retirement Planning

Since the outbreak of Covid-19 in 2020, the work-life balance has certainly gone for a toss for many of us. Pay-cuts and job loss have also been witnessed by many salaried employees. Going by the recent reports, the economy seems to be coming back on track, and if you are contemplating to retire early and come out of the daily routine of 9 to 5 job, you need to start planning for it now. Retirement is one distant financial goal that is largely overlooked by most. Some of us contemplate exiting the rat-race prematurely and not lead the usual route to retire at around age 60. The irony is that it for those who pays attention to it earlier in life stands to gain than who do not.

With longevity in life span, the non-earning period in one’s life is liable to make one’s retired years not-so-happy if one doesn’t plan in advance. The earlier one begins to save for retirement, the lesser is what is required. Ask yourself the fundamental question. What will I do after retirement? Without a clear answer, early retirement efforts are still born. Also, get an idea of the kind of planning and accumulation that will take you there.