Retiring early isn’t worth the grind

Retiring early isn’t worth the grind

The concept of FIRE, financial independence and retiring early, seems to be in vogue nowadays. People have taken up the concept of leaving their jobs to work on their passion in the hope of working on stuff they genuinely love and generating income at the same time.

Earlier, retirement meant something that older people do after decades of working. Now, when we talk of early retirement, it mean being financially secure so that you don’t need to work unless you want to.

Tantalizing idea – travelling the world, working remotely at your own pace and not having a boss breathing down your neck is inviting indeed. Few things need to be taken care of before we decide to leave our daily jobs.

Will the savings last, considering we may live till 80 years and more

Rate of growth of our investments and will it be able to beat inflation, after monthly withdrawals

How to use the time profitably, as friends and family may not have so much time to spare

Considering only 1 in 3 people are saving for their retirements, as per a recent Livemint survey, more than 50% of the people have nothing saved for retirement barring the mandatory PPF and ELSS / NSC / 80C investments at the end of each calendar year. 70% of the people expect financial help from their children after they retire whereas currently only about 30% retirees receive financial support from the next generation.

A simple rule of thumb is we should be having at least 20 times our current yearly spends in the retirement basket, considering there could be the years to live ahead without any monthly income. This is apart from your life and medical insurance.

Also, we tend to peak in terms of earnings around 50 – 55, so you need to be absolutely sure before losing these golden years. You never know what emergency may come once you leave your daily job. All the best for your future.

One comment

  1. Hi, very nice website, cheers!
    Need cheap and reliable hosting? Our shared plans start at $10 for an year and VPS plans for $6/Mo.
    Check here:


Write a Reply or Comment