I’m not really a big fan of “small practical steps” lists of advice. While they’re fun, at least as long as they’re short, I don’t find these lists very helpful. 🙂
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- I am well aware that for people just getting into personal finance these lists can be immensely motivating and empowering, so they are very helpful in the transition/recruiting stage. However, once one sees the principles behind the lists, they become less useful and almost trivial.
- With that caveat in mind, here are my tips for extreme early retirement.
- Ordinary personal finances are too restricted to consider taking early retirement or gaining any kind of financial freedom; It will mainly tell you how to get promotions, set up retirement plans, pay off mortgages and car loans, and get benefits and other things that keep people tied to their jobs. To understand how you fit into the bigger picture, read books on economics (like McConnell and Brue) and ecology (like Richard Brewer) and try to apply the ideas to your own life.
- Everything you need to know about functional minimalism can be learned from good boat maintenance for blue ocean passages and cruises. Some of these people sail the world in their own boat for up to $6,000 a year.
Do at least one important thing different from others (for example, I don’t have a driver’s license). If you are going to retire 20 years before everyone else, you better get used to being different. Always get out of your comfort zone. Remember: comfort is nothing compared to freedom (at least for a small percentile anyway) - 😛 [from] ).
Find a neutral hobby and get skilled enough to make money from it (you need to put in about 1000 hours before that happens). Everything I’ve Earned Money After Retiring
my career started as hobbies. It doesn’t matter if you’re not earning much or nothing at first. The important thing is that he has a reasonable chance of making you something, be it money or connections. For example, water skiing is out, but knitting is in.
PS: Sorry for being a bad blogger lately. We are busy working on a seven figure research and development grant proposal for the design of a new power plant to decrease (their) dependence on oil imports.
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