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?