Happy Retirement Facts

Modern retirement planning began with Vickie Robin’s 1992 book Your Money or Your Life. Mindset is vital to dealing with money. The book asked its readers how much do you really need.  Less material thing means more money. Vickie Robin’s works deal with being financially stable not just retirement planning. The World has changed a lot since 1992. The stock market  is in a bull market, Low unemployment, and new technologies create new opportunities for people to earn money. there is a movement in the personal finance community called fire. Happy retirement in this sense is retiring before the age of 40.Financial independence retire early. It is possible but there is a lot of focus on savings while there is not much focus on multiple income streams. you would be a millionaire in 18 years if you invested in SP 500 or municipal bonds. It starts with what type of lifestyle you want live. Do you want to travel several times a year or do you want to live in a warm place single family but with a great view and a hot tub? People in the Midwest can live comfortably on less than $3000 a month while people in San Francisco or NYC may need 3x that income to achieve a similar lifestyle.  The yield on bonds get lower and lower with each year due to interest. You must take time to research income producing investments or other ways to earn money . We encourage people who retire early or  retirees in general to find a purpose. First step is transitioning from work life to retirement life.

Happy Retirement How much do you need?

Not everyone will be good on expensive cruises. In order to retire at any age, a general rule of thumb holds that you need to save up at least 25 times your annual expenses.  In  Alabama or Arkansas $30,000 may the annual expenses for 1 person. So you would need at least $750,000 saved up.

Happy Retirement Things To prioritize

Money is all and good.  Working 10 more years can earn you money. The true cost may be years of life and added stress.The maximum possible Social Security benefit in 2019 for someone who retires at full retirement age is $2,861. In order to collect the maximum benefit, you would need to earn the maximum taxable amount for 35 total years. That is $132,900 or the cpi equivalent over 35 years. Maximize your income. Then reinvest in assets. Most people go for stocks. They are shares in a large successful business. Open either a robinhood or vanguard account and start training. Real estate is great . You will need cash for unseen expenses and dealing with tenants. Assets with monthly cash flow as they can replace your job income.It is very possible to become a millionaire by investing in these assets for 10 years this man achieved it. Low cost index funds and 401k. The latter maxes out 55,000 a year-18,500 a year plus your employer’s contribution.

Happy Retirement  Health care

Enjoy a happy retirement with great health care. Health savings account is great for contractors and retirees.

Happy Retirement Work Life Balance

Retirees who have no particular hobby or retirement job planned are more likely to suffer from depression. It can be difficult to go from working to retired, particularly if you’ve always defined yourself by your profession. There is another extreme group. Those who want to travel without the burden of a job. People need purpose. Even if it is volunteering.  You will need to be frugal for a few decades. No more credit card debt and cook your own meals.

Happy Retirement For Younger Readers

If  you are under 40 there is a lot opportunities you can take Advantage of retire earlier. Education is important . Certain states like New York offer free tuition if you fit a certain income requirement.  If you don’t want to go through higher education community colleges or trade schools offer career opportunities without massive student loans.


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