Retirement is Not an Age
I hear from far too many people who reference social security eligibility as the time period or age when they can retire. You really want to avoid this line of thinking that you must be a specific age to retire. The only reason someone would focus on this is if they have few income sources outside of what the government is offering and must follow specific eligibility rules around those benefits.
The status quo tells us to work and save for 40 years, then retire. It’s what our parents did and perhaps their parents did before them. But with proper planning it doesn’t have to be this way. You can build assets and have a long-term income strategy to develop your own retirement timeline.
In order to accomplish this, we have to do things differently, we have to think differently about money and we have to be deliberate in our decisions. Retirement is a point in time when you have sufficient cashflow from your assets to support your lifestyle. In other words, you have assets producing passive income that can replace your need to produce active income through a job.
This can happen at 35 as easily as it can happen at 65 it is just a matter of planning and doing what it takes to make it happen. It is about giving yourself enough time to get your income assets developed and producing the level income you need.
The truth is the wealthy already understand this principle and they focus on creating assets that produce income. This allows them to retire at an earlier age, which enables them to work on wealth creation opportunities, or other interests they have for themself.
You must think differently and challenge the status quo if you want something better for yourself. We must get our thinking straight and begin accumulating money and building resources to ultimately acquire income-producing assets. It is a process and takes careful planning, but it is possible with the right strategy and way of thinking.