I've had retirement on my mind a lot this week. More specifically - early retirement. I'd really like to be done with working in 10 years. No coincidence that the time frame is the same as my hope of rewiring in 10. Originally I thought that I would move on to a less stress position in 10 years (in a different field, possibly even a different location). But lately I'm salivating at the thought of being in a position to completely stop working.
Oh how that would be lovely!
The key of course is that I must have my expenses at the most minimal level possible while also having a good stash of cash set aside to support me until I can access my retirement accounts without penalty. I've had a look at my retirement accounts and if I continue to contribute for the next 10 years and then stop contributing, they should still end up at a healthy amount once I'm able to access them. This is good news because it means I just need to focus on building up the "other" amount of cash/investments. Of course that won't be easy.
The other thing that has been on my mind of late is the phrase, "You don't build wealth by spending it." Oh how true that is - especially where I am right now.
And now for some articles that have caught my eye this past week:
18 Smart Ways to Spend or Invest $1,000
14 Smart Ways to Spend or Invest $10,000
9 Smart Ways to Spend or Invest $100,000
And these ones are good reminders:
5 Money Moves In Your 50s
8 Surprising Things You May Not Know About Retirement
(Side note - I wonder if personal finance articles need to start with a number to grab our attention...)
And because the not spending it part is of great importance:
69 Valuable Things You Can Get For Free
*This one had some really good ideas. Some (or a lot of these things) are geared towards Americans (and possibly Canadians depending on the brand mentioned). If you are not in the U.S., I would take the spirit of the article and run with it. So if they mention that a major store (e.g. hardware store) offers free xyz, contact or search online for a major hardware store in your country to see if they do something similar. Can't hurt!
Pru
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Positive comments are always welcome. Negative comments will be deleted. Selling something - ain't gonna happen. I'm not a financial adviser and you're probably not either. Careful what you recommend.