Early Retirement

Early Retirement: Basics of Early Retirement

Early Retirement is a very new concept in India. Honestly speaking Early Retirement is the new concept for every developing country. But in the developed countries like USA & Europe, many people prefer to take early retirement.

However, some people have false belief that, early retirement has advantages only. But it is not so. Early retirement has disadvantages also. Here are few Advantages & Disadvantages of Early Retirement.

Advantages of Early Retirement -

- The main advantage of early retirement is that, you are free to do whatever you want to do because you will not have any financial unforseen event in your life. As you are Financially free & secure and your Passive Income from your various Assets exceeds your monthly Expense, you don't have to worry about those paychecks at the end of month.

- The second advantage of early retirement is that, weather you work or not, the steady Passive Income flow from your Assets will cover all of your expenses. So you don't need to go at your job place any more.

- You can travel the world without a burden on your mind. Many people travel the world, see the 7 wonders & N'joy a lot after taking an early retirement.

- The another main advantage of Early Retirement is that, you have now a lots of spare time. So you can use this spare time for making new friends, new relationships or starting a New Business Venture or whatever else you want.

- You can now start more risky Business Ventures for higher returns which otherwise you could not start before taking early retirement & Financial Freedom.

Disadvantages of Early Retirement -

- The main disadvantage of early retirement is lack of social relationships sometimes. As a job comes with many social advantages. Once you take early retirement, you need to develop new social relationships as early as possible otherwise you will start feeling depressed, alone and gloomy

- Another disadvantage of early retirement is the time management. Because now you are retired, you don't have any pressure over you so you may become lazy and waste your valuable time behind sleeping in a bed, watching a TV. So if you decide to retire early than manage each and every minute of your time otherwise there will be no benefit of taking an early retirement.

- Another disadvantage of early retirement is that, some people blow off all of their retirement corpus and thus they have to go back to work to earn some more money. This because after taking an early retirement, you are now free so you will spend more and sometimes you will lose control over your spending & budget.

- You may drink & Smoke more after taking an early retirement and thus it may harm your health adversely.

So these are some pros and cons of taking an early retirement. You should keep in mind the above things before you take the early retirement otherwise, the purpose of taking an early retirement won't be solved......!!!!!!