July 3, 2014

Early Retirement Plans

We are already on our 30s. As early as now, there are times that we are planning our early retirement. If God permits, we are planning to take a rest from work at the age of 40. At this age, we can have a longer time to rest and enjoy life rather than consuming most of your entire years working.

But the main concern is: “What will be our source of income?” There are still bills to pay. Aside from that, Matt is still in school and needs ample amount for his tuition fees and other expenses.

Here are some solutions I had in mind:


Save for the future. For now we already set a constant amount deposited monthly in our savings account and Matt’s account too.

Set time before retirement. When we reached the age of 40, our house is already paid in full. As of now, 3 ½ more years to go and we are done! After that, the monthly amortization will go directly to our savings. Actually, Mommy plans to file her resignation two years after we fully paid the house while I will try to reach the age of 40 or more before leaving my work.

Don’t rely on savings. Though we will have enough savings, these will be intended for other cases like health needs and of course a bit of leisure like vacation tours. For now, we are planning to put up a business of our own.  Aside from the online store, we are planning to put up small sari-sari store at home soon not only for us to earn income but for past-time too.

Enjoy and live free. Our main reason for early retirement is to enjoy life more. Still, we need to consider


We know some person that took their retirement and all of their claims went to nothing other than building a house. Though they got a beautiful house, they are having some troubles in paying their monthly bills. In other countries, there are offers like reverse mortgage. Their house will be used to pay their monthly bills even their health care needs without leaving the house they own. If this is offered here in our country, expenses after retirement will not be a problem anymore.

How about you, what are your retirement plans?