Since health declines and life is finite, we must optimise our time on earth. The answer to how you want to spend that time differs for everyone. However, most clients rarely say they want to work more and longer! So, what's the best way to allocate your limited time and energy, and what are the five most common reasons for early retirement:
Freedom and Flexibility: Financial independence and early retirement allows individuals to escape the traditional work schedule and structure. They gain more control over their time, enabling them to pursue hobbies, travel, spend more time with family, or volunteer for causes they care about.
Health and Wellness: Work can be stressful, and early retirement can provide an opportunity to improve one's physical and mental health. Retirees can focus on healthy habits, reduce stress, and pursue activities they enjoy, contributing to a longer and healthier life.
Pursue Passions: Many people have dreams and passions put on hold during their working years due to lack of time and energy. Early retirement allows them to finally dedicate time and resources to these passions, whether starting a creative project, learning a new skill, or starting a business.
Travel and Exploration: Early retirement opens doors to extensive travel opportunities. Retirees can embark on long-awaited adventures, explore diverse cultures, and experience new things without being restricted by work schedules or vacation limitations.
Personal Growth and Development: Financial independence to retire early can be a time for personal growth and development. Individuals can learn new things, take up new challenges, and explore various aspects of themselves that they may have yet to have the opportunity to.
Our role as fiduciary financial advisors is to help you optimise the time you spend working and the time you spend "living." We do this by showing many clients they often need less than they think to achieve financial independence and retire early or cut-back on work.
If you would like a copy of our "Can I retire early?" checklist, please email clientservice@providencegroup.com.au or book a free 15-minute call with me here to find out if you can fast-track your retirement.
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