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Retiring in 10 years – When I’m now only in my 20s.

I decided that I shall retire in 10 years. (I will continue working if I love my job)

According to my calculations, growing ‘a nest egg’ a.k.a retirement funds that would allow me to retire in 10 years is more than doable based on my current salary, savings, and investing rate.

(and I’m still young after 10 years!)

Even though I’ve only been working for less than 3.5 years, it was obvious to me that I do not want to slave myself for a monthly paycheck for 40 years.

So I decided to change it.

This gives me the freedom – I can choose to go to work. Or I can do whatever I want to.

And I want to achieve financial independence through investing in something which gives me 8% returns yearly.

Read here: My Portfolio with Funding Societies (How I made RM5.9K passively with RM0 defaults) 

Most importantly, I only want to invest in assets which I could sleep peacefully at night.

The Road Map Towards Financial Independence:

One important thing I’ve learned about financial independence is that one must enjoy the journey of getting towards financial independence.

Because financial independence is not just a number/goal to hit.

Not to millions.

But financial independence is a lifestyle and a decision.

Here are my own thoughts on achieving financial independence lifestyle:

1. Live below your means.
   • High-income earners can be broke too if they spend more than what they earn.
2. Save before you spend.
   • What’s the first thing you do when you receive your paycheck?
   • Read here: 9 Steps to change your money and life fast
3. Pay off the credit card in full.
   • Banks love people who never pay their credit cards in full!
   • Hello, you’re charged at 18% interest per year by paying only the minimum required/not paying fully. 
4. Start Investing NOW.
   • Let compounding interest be your friend instead of your enemy.
5. Take care of your health – physically, mentally, and emotionally. 
6. Having time is the biggest freedom.
   • What’s the point of being a millionaire/billionaire but your time is tied down? or feeling burnt out?
7. Family, friends, and amazing relationships are far more important than money.
8. Most people think that money/being rich is the goal… But for me, freedom is the goal. Money is just a tool to help me reach ‘freedom’.
9. The fastest way to double your net worth is to stop buying sh*t to impress people and to stop getting into lifestyle debt.

The next question is, what about you?
What are your goals?

And what action steps are you planning/taking to reach there?