The second you finish reading the title, you are probably thinking “Of course YES! What a stupid question!” However, I urge you to think about it a little longer and stay with me by reading on.
This financial blog is filled with readers having the dream of early retirement. We want to pursue our hobbies, relax, and stop hearing “Why are you late today?” at work. Some of us even have spreadsheets that map out our plan and schedule of when this can happen. On the worksheet are statistics such as our current net worth, projected return on capital and how much we would have 5, 10, 15, …, 30 years from now. If we are on track for early retirement, it would bring a big smile on our faces every time we look at the spreadsheet. It gives us hope; it gives us more motivation to work towards our goal.
We dream about reaching our 1 million dollars (or 2, 3, even 5 million) goal and retiring early one day. However, would we really retire if we are 45 years old and we reach our million dollar dream? There are so many people who have lots of money who are still grinding the daily work. Ever since I was young, I always wonder why they did it. Back then, I thought I just weren’t as ambitious as they were and left it at that. Now, I’m wondering if there is some crucial information that I am missing. Maybe it’s just because I’m not in their shoes and don’t know how it’s like to be a young millionaire.
What if our dream is having the most romantic wedding? For years, we thought about the perfect spouse, falling in love, and having the perfect wedding with everyone congratulating us. However, when we actually do get married, real life issues kick in and we wonder if we should spend the $25,000 on a wedding or a house down payment (or maybe we can’t even decide whether we want the wedding or the car). Most of us can certainly afford to pay for the wedding, but would we fulfill our dream and actually pay for it?
Dreams therefore might not have meant to be fulfilled. It may just be a way for us to create hope, a necessary ingredient to be happy.
Maybe you should dream high, since deciding to fulfill it might be a tougher situation than pursuing it!
- E*Trade IRA - Official Site
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{ 13 comments… read them below or add one }
David, this might be my favorite post you’ve ever made. Fantastic questions you posed today.
Modern: I’m glad you liked the piece.
Now that I’m financially free and don’t NEED to work, I still follow my passions. The difference now is that making money doesn’t have to be part of the equation. I’ve always enjoyed coming up with an idea, making a plan and making it happen. That didn’t change once I stopped working. I focus my energy now on raising my daughter and ‘making a difference’ in the lives of others less fortunate.
I agree, many people think an early retirement means slacking off everyday. Truth is, the journey is part of the fun!
Millionaire Mommy: I bet it’s such a good feeling to be financially free. Somehow, I can hear it from your comments.
I’m a little jealous but I will work hard for my own financially free future!
Good post – I often speak with people who say they want to retire early and when I probe them on it, what it really means is having the time to pursue your passions and interests without something like a 9 to 5 getting in the way. As you mention, this comes from being financially free from having to make a working income.
The Dividend Guy
The Dividend Guy: Thanks. The problem might be that people don’t really think about what their dreams are sometimes.
It is something that they just throw out there, a wish that they know only a little bit about. Maybe since they don’t spend time to think about it, they never achieve it.
Loved this! I have been scouring the blogosphere for commentary like this. Not a retirement article about the money part, but about the actually doing it part!
To answer your question, yes, emphatically yes (and at 44!)
So many people, though, ask me “but what will you DOOOO?”, so your question is a great one, many would not. Many with far more money than I have don’t, so it will be interesting to see the other side–in 7 weeks!
So sorry to have messed up your comments, pasted the wrong web address to my comment!
I feel that what’s most important is to find whatever motivates you… if this is tracking your progress towards an early retirement, then so be it. Now do I actually believe you will retire early upon reaching this goal? Probably not…
these are some good questions to get you thinking
For me reaching our dream is a continuous process.
Early retirement is a dream for many people but the most important thing is to enjoy our life before we reach our dream.
You know very often when a dream is fulfilled a person just cannot stop on it. We- people- are created in such a way that everything will be few for us even if we have a lot already. For instance, when I was dreaming about my own house and got it, I realized that now I need one more for my baby. So now I have another goal to achieve. I think without goals and dreams our life would be senseless.