How to retire early and travel the world? 4 Beginner-Proof Steps
Maybe like me, you thought your 9-5 is going to be it. Going to be the thing that will take your life to the next level, to achieve your dreams and desires, retire early and finally live life.
It turned out to be something that just pays for the bills.
Now you are sat wondering if there is more to life than being stuck in the rat race for the next 30-40 years.
When will you get to live your life, when will you get to travel the world?
I am with you.
I felt the same. The job is great, but I needed more. You can read more about my story here.
Hence started thinking, searching and finally found a way to create that financial independence.
Yes, I am still in employment but that is only a testament to how sound this method is, good money doesn’t get made overnight.
The steps that I will walk you through are not a get-rich-quick scheme, they are not come and be the next overnight success.
That stuff does not happen.
It’s 4 steps for you to build your solid financial independence to be able to retire early and travel the world.
Investing a good year or two of your time in building a solid foundation, allow it to blossom over that short period of time while you take it with you on your travels and it will always outdo working for 35 years, don’t you think?
Okay now, let us get into it the 4 steps on how to retire early and travel the world…
Rationalize where you put your money.
A wise person told me ALWAYS pay yourself first. What does that mean?
Have a look at your pay-check and figure out your hourly rate, for every first hour of your working day take that sum of money and set it aside in an account you cannot access easily.
Let us say you work 5 days a week, 4 weeks a month and your hourly rate is 20£ for example. Every month you should take out 400£ and save them. If you can spare more awesome, save more.
The second thing you should do is look at your outgoings and stop all the ones that you cannot remember why you started them, the ones that no longer serve you or go above what you need.
The magazine subscription that you never read, the extra data on your phone, the whatever thing you thought you needed but never used. I mean who watches over 300 channels of TV? Just saying.
You will find that it will save you a handsome chunk of money, add it to the savings.
Take 30-50% of your savings and put them into an investment, something low risk and easy to manage like ETFs or ISA accounts. Whatever profit you make add it to the savings.
You can use your savings as your emergency cushion and as capitol to start funding your business idea.
P.S not all business start-ups cost a lot of money, some cost less that a family take-out. Ask me how?
You probably would have noticed I talked about making money from a business and making that money work for you because you are not going to be able to retire early solely working a job.
Jobs are designed to make you survive paycheque to paycheque (if that) instead of thriving and living your best life.
See how you can generate multiple streams of income regardless of your background and experience.
Did you get some value from this post?
I hope you did because each week I put my heart into making sure you get some good tips so you can rock it in your travels while creating a life you love.
2 thoughts on “How to retire early and travel the world? 4 Beginner-Proof Steps”
Thanks Ola. Really enjoyed reading this. Defo going to start step 1!
That’s awesome… glad you found it useful… Do let us know how it worked out for you?