As far as retirement is concerned, 70 is the new 65 they say. Sounds catchy, but it simply means people are expected to work longer before they retire. State pension is under pressure, no matter where you live. In my case it is 68, but that is not a number that is set in stone. It may be 70 or even higher when I eventually get there (hopefully).

We’re heading to a situation where retirement as a few years of dignity before you die is the prevailing concept. Forget about that picture perfect scene of a happy retiree sipping at a cool drink in a sunny spot. We outlive our savings. So we need to work more, harder, and longer. Gone are our golden years.

Living longer and healthier sounds good. But if you risk outliving your savings you need to save more, longer. If you don’t you may end up below the poverty line.

This is not going to happen for me. I have decided to self-fund early retirement (self-fund my retirement is what I do in the first place, be it through taxes or private pension contributions). And my goals are clear. I want my golden years to span the years from roughly 55 to whatever age will be given to me. I want to be financially free from trading my time and labor for money. The sooner the better.

It is far from easy and it will require a lot of discipline. To save and invest money, instead of spending it (on short term pleasures). But the long term reward is peace of mind. To know that my money works for me. Not the other way around.

Remember that financial freedom is not the same as being rich. It means you have the money to support your lifestyle, which could be modest. The key to succeeding is actually on the expense side. If you control your expenses, now and after you retire, you can reach financial freedom earlier than you think.

On this website I document my journey to financial freedom and early retirement. Join me (you can subscribe by email) and get inspiration for planning your own financial future.

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