Are You Considering Extreme Early Retirement? - Solid-Sky Solid-Sky.com.com

by Lucy Mr lucys

You will have to give some careful thought to the sacrifices they may need to make because of your decision.

Is your partner on board with the idea How will your decision affect all your other family members If your plan is to generate an income from some other source rather than a regular day job, it may take time to build your business up. Depending upon your choices and dedication to your new ventures you may make a significantly less amount of money for a very long time. You may never match your old income or you may wildly exceed your expectations and make a lot of money. This brings me to a second consideration uncertainty.If you can deal with uncertainty, then extreme retirement may be for you. Many people do not like uncertainty and should avoid it if it generates too much emotional stress. Will you be able to deal with the uncertainty of an unstable income Can you deal with the uncertainty of how you will spend each day or will the days just drift by you aimlessly One of the biggest adjustments that an extreme retiree will need to make is the sudden lack of structure to each day. Although most people have a fantasy notion of this being a wonderful thing, many find it tough to deal with because they end up doing nothing day in, day out and then rapidly fall into a funk, leading to depression.A third factor to consider is how you will deal with family and friends when you retire early. Will you be ready for their criticisms and worries Well-meaning family (especially moms and dads) can really wear you out about a decision that they cannot understand and think is financial suicide. If you can show them that you have thought things out, have a plan and understand their worry you will be better able to deflect a lot of their concerns.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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