The path to retiring in your 50s and enjoying stress-free living
That ain’t workin’ that’s the way you do it. Get your money for nothin’ — Dire Straits
A lot of people say you should live off interest and dividends and never touch your principal. I disagree. In the best case, that might make you live more frugally than you could have. In the worst case, it might make you take undue risks with your portfolio.
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“This magic moment. So different and so new.” – The Drifters
How do you know when you have enough money to retire? You might have heard of the 4% rule–Take out 4% of your portfolio in the first year for expenses and then adjust for inflation after that. But this was designed for 65 year-olds, not early retirees.
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“Good times, bad times, you know I had my share” – Led Zeppelin
After the 2009 market crash, I spoke to 2 recently retired friends. One seemed really smart because he’d sold all of his stocks when he retired, while the other friend was spending hours staring at his computer screen in a daze. Obviously, the first friend had the right approach, or did he?
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“Don’t Wanna be an American Idiot.” – Green Day
One of the biggest concerns I’ve heard is whether leaving the workforce will lead to a lack of intellectual stimulation. Will your brain turn off? That’s a question I feel very qualified to answer.
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“Time hurries on. And the leaves that are green turn to brown” – Simon and Garfunkel
Life is short. When can you relax and finally enjoy the fruits of your hard work? Most people achieve early retirement in their 50s (only 9 percent are retired by age 50), but you can’t start too soon to make sure you’ll be have the financial resources when you’re ready to retire.
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Early Retirement Hacks 