Retirement is so alluring that people strive to reach it early. Some even make it.And as is typical in life, finally having something you’ve wanted looks and feels very different than wanting for a long time something you don’t have.
Indeed, retirement is about more than just the financial side. Early retirees in particular may face some uncomfortable truths about how they spend their time and treasure when the obligations and burdens of work no longer tug at them.
I’m going to retire early and travel, sleep in, and make my life an endless vacation. I thought it, said it, and have heard it many times from others. Now what?
There’s nothing earth shattering to be revealed here. The boring early retirement truth is our retirement depends on much more than the portfolio numbers that we need to support it.
When we are busy working, we can believe that it’s only our lack of free time that is keeping us from doing some things we dream about doing. When I finally had the time, I found out a few things:
– For some retirement dreams it wasn’t a lack of time that kept me away from them. I just didn’t realistically have the finances to support them. Imagine that. We are always trying to dream big. Sometimes too big.– Other retirement dreams I found that I had the finances but would in no way be worth the cost in finances and time for me to do them.