When you make the choice to strive for early financial independence, you might be a crazy person. However, sometimes being crazy is better than being normal.
I’m not trying to make you feel bad. I’m simply pointing out coming up with a plan to retire early makes you special. Most people don’t try to retire early. Simply put, they go along with the flow and try to make it until they’re 65.
Most people don’t dream of a life of retirement in their 40s and 50s. We’re mostly taught to put in our time and pay our dues like the generations before us. If you mention anything about early retirement, you might be confronted with a chuckle and skeptical words.
That’s ok. If you’ve made the choice to make your way toward early financial independence, don’t let a few skeptical people get you down. Nobody has made it anywhere without giving themselves a challenge or a big, lofty goal.
Instead, enjoy being a crazy person. Embrace it. You didn’t make the choice to retire early because you wanted to be normal. You’re not trying to live your life like the rest of them.
When you strive for early financial independence, you’re not normal
Normal doesn’t get you anywhere. Normal is boring. When you’re normal, you blend in and you don’t stand out in a crowd. There’s nothing wrong with normal, but that’s not why we’re here. We’re here because you’re crazy and you want to rid yourself of financial burdens.
When you strive for financial independence, you’re crazy about optimizing your savings. You optimize to an almost unhealthy level. Striving for financial independence may even get you depressed at times because all of your money gets siphoned into retirement accounts.
However, through your ups and downs, you realize your craziness will help you achieve your goals. In the end, you’ll have the last laugh. Through years of hardcore preparation, you’ll reach your lofty goals. Your craziness will pay off.Being crazy will help you achieve your lofty goals Click To Tweet
The average retirement age is 62-65
You’re mainly crazy because most people don’t reach the goal of early financial independence. Most people out there are well into their 60s and 70s before they get a chance to retire.
Some people simply enjoy work and they want to continue working so they can do something worthwhile with their time. Others simply can’t retire because they haven’t reached a point of financial independence.
According to Smart Asset, the average retirement age varies from 62-65 across all 50 states. That’s normal and that’s why you’re crazy. If you were normal, you’d trek along well into your 60s before you could retire.
People in their 30s don’t have much money saved
If your main goal is to retire early, you optimize your life around retire savings. Any extra money you obtain is sent to pay off debt or build up retirement accounts.
Normal people don’t do this. The average retirement savings for people in their 30s is barely $31,000. And if you look further and look at the median, it’s not even $500.
That’s normal, but we know you don’t want to be normal. You’re a crazy person, remember? If you’re crazy, my guess is you’ll be well over $100,000 in retirement savings by the time you’re 35.
With your crazy retirement savings rate, your retirement accounts will double every 6-8 years to enormous balances. Since you’re so crazy, your retirement savings will be near the upper end of the spectrum for someone your age.
Keep being crazy. It’s worth it.
You might realize you were actually crazy after you retire early
Being crazy does come with its consequences however. It’s not all happiness and good times.
It’s important to remember early financial independence and early retirement are not the same things. Just because you’re financially independent doesn’t mean you have to retire.
You may have a career and job you love. As far as you’re concerned, you may never officially “retire” and instead keep your body and brain active until the day you die. To me, once you find something you love, you should not give it up easily.
But what if you think you want to retire early, how do you truly know that’s the right answer? After all, it’s certainly possible you could run out of money or lose your own self-respect.
Deciding to retire early seems like an easy decision. After all, everyone talks about how they can’t wait to retire.
You might be convinced work sucks and want to avoid working if possible. However, you might hate working for reasons other than actually doing the work. You may actually be surrounded by the wrong people or be working the wrong schedule. You may be able to find a new career or a different job and find satisfaction in working again.
Here’s what I’m saying. Don’t make a decision lightly. There’s no magic bullet with anything in life. There’s no skeleton key to unlock happiness.
If you’re unhappy, you won’t suddenly be happy in retirement. You’ll have to keep searching for that something.
When you’re crazy, you live outside the norm. You don’t follow in everyone else’s footsteps. You strive for greatness and a life you feel worth living.
Crazy is good. It makes your life fun and spontaneous. Crazy people journey to the special parts of life – the extra spices and seasoning. Sometimes they stub their toe, but there’s something rewarding in failing and trying again and again.
If your goal is to reach a sort of financial independence, embrace the crazy. It won’t be easy. You’ll have to sacrifice the normal things everyone else is doing in their lives. Crazy decisions don’t lead to normal lives.
Keep telling yourself that crazy will pay off in the end. Crazy can help you reach your wildest dreams.
Continue to increase your savings rate to a crazy level. If you do, you’ll be far from normal. You’ll be far above average and won’t have a measly $30,000 saved when you head into your 40s.
Finally, love yourself. Love that you’re a little bit crazy. Appreciate the fact you’re setting goals most people don’t set. Keep striving for early financial independence and being a crazy person.
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