Because working is way more fun when you don't need to do it.
About a year ago, I stumbled across Mr. Money Mustache's blog. His story involves him and his wife working pretty regular jobs as software engineers throughout their 20's, and then retiring at 30 when they had their first child.
Their story initially seems spectacular, retiring at about half the age of most of the population, until you dig deeper into how they actually did it. They had regular jobs and basically just avoided wasting their money on useless things that cause lazy happiness, took all of their money and invested it as they earned it.
What this has allowed them both to do is gain control over 100% of their time. Now, in their thirties and retired, they get 52 weeks of vacation a year. If time is our most precious resource, then doesn't working towards getting an unlimited amount of it seem like a worthwhile goal?
We'll get to the how in the next two articles, but for now, I want to take some time to really help you understand the relative advantages to retiring early vs. late. And since you think in threes, let's use a list of three.
The First, Biggest Reason You Should Retire Early
Working is way more fun when you don't need to do it.
Instead of working our whole lives because we feel we need to put food on the table, I think it would be way more fun if we worked when we wanted to, taking days off whenever we feel like it. Don't you?
The Second, Scariest Reason You Should Retire Early
If you don't retire early, you might never retire at all.
Retiring early forces us to control where our money goes. If we just let ourselves go, adjusting our spending up with our income as we progress through our lives, our happiness becomes more and more fragile since higher incomes are much harder to maintain.
And, retirement becomes even harder to reach, since the amount of money we'll need to consume each year of retirement increases.
The Third, Most Important Reason You Should Retire Early
Life(time) isn't all about work.
How we spend our time is how we spend our lives, and since life is about much more than work, we best be figuring out ways to spend our time on things beyond work.
I'm not saying working is bad. Working can be fun - in fact, it should be - but, when we don't have control over how much we do it, we're forced to work at the expense of other parts of life, like health, play, and socializing.
So, spending lots of life retired and in full control over our team becomes a great goal.
As you'll soon find out, early retirement isn't reserved only for gods, it's actually simply a consequence of changing a few of your biggest habits. But before we even get to thinking about the how, deciding on early retirement as a good goal is our first step.
If you don't believe or care about your (life)time, then early retirement might not be for you.
But, if you do, hopefully early retirement is starting to look like the obvious choice.
Check out the next two articles in this series