Is it possible to retire early?
Gosh I hope so!
Well the title gives it all away really doesn’t it! The times they are a changin’ in my house hold. My two home schooled kids want to try school this year- thus freeing up ALL MY TIME….. wow, it’s been a long time since I haven’t had work, work and kids or kids to do things with all day……
So, I was presented with the ‘problem’ of what do I want to do next year? We could carry on as we are with my husband working 4 days a week and me picking up a little bit of stuff to do from home on a casual basis BUT to be honest I feel like making some money, some real money (eek I said it!).
So we have re-ignited what was a long forgotten goal to retire early. We have given ourselves three years to nail this goal. As I have said in previous posts/video’s, our traditional retirement is sorted. So even if we don’t put another cent towards that, we will be fine when we turn 65.
That said, 65 is a loooong way off. I’d like to be done by 50 hence the 3 year plan. To achieve this goal will require a combination of increasing our income and trying to keep our expenses low. This is becoming harder and harder- overall our bills increased more than 30% in 2023!
Here is the plan in brief:
Both adults working in 2024 (4 days a week him & 3.5 days a week me)
Limit expenditure to $1000/week
Save the highest wage and live off the lowest
Anything made above $1000/week from lowest wage also save
Garden like a demon
Keep travel expenses under $10,000 for the year
Invest all our savings and then repeat..
Wow, that sounds easy…. on paper anyway! Join me over on YouTube and see how we are going with this plan.
NZ Money Karma x