Retire Early
Lifestyle
Retirement; like your parents, but way cooler
In 1991 Billy and Akaisha Kaderli retired at the age
of 38. Now, into their 4th decade of this
financially independent lifestyle, they invite you
to take advantage of their wisdom and experience. |
|
We Want Millennials to Be
Financially Independent!
And They Can!
Billy and Akaisha Kaderli
Three on a motorbike taxi in the
Dominican Republic
It
seems the Financially Independent, Retire Early (FIRE) movement is gaining
momentum.
We
think this is great!
It is our belief that becoming
financially independent
is one of the best things you can do for yourself and for the world.
So,
if you are a Millennial just getting familiar with the terrain, where do you
start?
We
have put together some suggestions to help you cut through the noise.
You don't have to be special, you don't have to make a bazillion dollars,
and you don't have to win the lottery. You just need to stick to a plan,
prioritize your spending and save, save, save... invest, invest, invest!
Being a thoughtful shopper works in your favor. Do you really want to be an
impulse buyer? Take a few moments to consider that quick purchase and
instead, place that money towards your future. We're not saying you need to
deprive yourself, just think if the purchase is where you want to place your
money right now.
How
do you find your plan? Figure out what you are spending for the lifestyle
you are living today and multiply that number by 25. According to financial
experts, this is the target amount you need to invest in order to
(theoretically) never run out of money, using the
4%
Safe Withdrawal Rate.
Track
your spending so you know where your money is going. Then, tweak your
spending so you can invest more to get to your target amount faster.
Find a partner who is on the same financial page as you because divorce
is expensive on many levels. We cannot emphasize how important this
guideline is.
While there are differences between couples that make for a lively and
rewarding relationship, arguing about finances is not one of them.
Disagreements over finances is one of the highest stressors in a marriage
contributing to divorce. Choose wisely and your road to
financial independence will be turbo-charged and a lot more fun.
Learn the language of finance so that you can invest on your own. Become
self-reliant in this. If you familiarize yourself with
financial
terms, and understand even the basics, then no one can scam or
charm you into an unwise investment. You will save thousands of dollars on
fees in the long run and you will build more self-confidence for the
management of your future.
If
you have ever wondered if you’d be bored with so many years ahead of you
away from the conventional work force, realize that
here are many other ways to gain satisfaction than from a job. Before you leave
the working world, we recommend that
you make a list of all your passions - the things you want to do, want to learn, and places
where you want to travel. Expand that list at every opportunity. In that way
you won’t find yourself bored out of your mind after you have finished
organizing the garage or your recipes.
Remember, when you are financially independent, you can do anything you want
with your time, including
volunteering,
becoming a mentor, taking on a part-time gig or inventing a product for the
benefit of humanity.
At Lake Atitlan, Guatemala
One
of the advantages of driving your future through FIRE is that the longer you are
retired and out of the consumer cycle, the more you will find that you can
live a very satisfying life
with less stuff! You simply focus on the things
you really like or need and leave the rest behind. If you choose
not to own a home,
there are tremendous savings in that lifestyle choice. No more repairs,
maintenance, remodeling, insurance, or property taxes. If you decide to go
car-free,
you are not bound to owning a vehicle with all the expenses related to that
“privilege.” And there are plenty of sport activities that are low cost with
a high FUN quotient, like hiking, biking, swimming, tennis,
and walking through parks with your dog.
In
our fourth decade of financial freedom, we have found
that living with less is actually having more; More fun, more adventure,
more freedom, less stress, less payments, less financial obligations.
Overall, we would say don’t let anyone steal your dreams or derail you from
saving for your future goal. If you work hard, save a lot, spend little and
invest wisely, you will solidly be on the road to your financial freedom.
And then you can truly call your life your own!
What
if you could choose to work, and not have to work? What would YOU do?
What's Your Number? - How much money do you need to retire?
About the Authors
Retire
Early Lifestyle appeals to a different
kind of person – the person who prizes their
independence, values their time, and who doesn’t
want to mindlessly follow the crowd.
HOME
Book Store
Retire Early Lifestyle Blog
About Billy & Akaisha
Kaderli
Press
Contact
20 Questions
Preferred
Links
Retirement
Country Info
Retiree
Interviews
Commentary
REL
Videos
|