I probably should have started my road to retirement long ago, and I kind of did. After all I have a small 401k from a previous employer, but I really don’t think I have enough money saved. I’ve decided I want to try and retire early however, my road to retirement is going to be a journey that will take some BIG changes. I need to get serious NOW. (I really should have gotten serious a few years ago). Here are a few of my steps that I need to accomplish in my opinion. Two important aspects are going to be planning, and discipline. Because I want to retire early, here is what I need to plan for on my road to retirement.
Health insurance fund- enough money to pay my own premiums until I reach the magic age to get on medicare and a supplement insurance, which I will still need to pay out of my pocket.
Emergency fund- unexpected expenditures.
Travel fund-Because I want/need to go on adventures.
Car fund-insurance, gas, maintenance, tires.
Birthday fund-grandchildren’s birthdays
Christmas fund-enough said
Entertainment fund-
Wow, am I ever going to be able to get on my road for retirement? I’m beginning to think hard and long what I really need vs want I really want. Time to put a hard action plan into place. This is where the planning and discipline will come into play. I really don’t have a hard time saving money for something I really, really want to do or have. It didn’t use to be this way, I wanted to play and have fun, take my children on fun adventures so I played and had fun, and took my children on fun adventures. I’ve told my children I want to retire early, and they all had different reactions. Shrug of the shoulders, and one “what? you need money, you can’t afford to retire yet”. Well like I said, I’m working on my road to retirement.
What are some of the things you are doing to prepare for your ” road to retirement”?
Come back often to see how I’m doing.
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