Financial Independence & Early Retirement
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Financial Independence is a phase of life when you don’t work for money. When you have accumulated so much money that it can take care of the rest of your life.
The moment you achieve financial independence you start to own your time, You actually stop trading your time for money. Because you don’t need to work for the sake of earning a living, You work only when you want too.
Is Financial Independence = Retirement?
Technically, Yes!
Practically, No!
Retirement is a phase when you have tired working all your life for your family & responsibilities and now you just want to take rest from all these hustles and routine of trading your time for money.
Can this happen without Financial Independence? No!
Most people are retiring not because they want too or they are financially independent it’s just because they can’t trade their time for money anymore or they can’t get the same work after certain retirement age.
Does Early Retirement Mean No Work?
No! Early retirement doesn’t mean that you can’t work anymore. It means that you are financially independent and now you don’t want to work regularly for money, You just want to work when you want and as per your will not because you have to.
So, for early retirement, you must be financially independent. Because without financial independence you cannot retire early. If you want to retire early in your life then you must have a goal of your retirement planning and you have to hustle a lot to achieve it before the deadline.
That’s when you can actually retire early.
It makes no sense to retire early without having financial independence because it may look easier to manage your life peacefully but trust me that phase would be temporary that retirement won’t be permanent. So plan accordingly, efficiently, and retire early with financial independence only.
It’s may look difficult but not Impossible! You can do it!
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Hi, I’m Managing Director at Gurpreet Saluja Financial Services where I help my investors to invest in mutual funds and achieve their financial goals. I’m also a Value Investor and here I write about Personal Finance & Investing.
