Yesterday I stood still and starting thinking about my life and what I already have achieved and where it was going to.
I'm in my early thirties and I feel the need to have more free time, I don't want to work till I'm old. I want to retire much sooner so that I can do what I want BUT the quality of my life may not drop.
I know that I 'want' a lot but it should be possible to retire on my mid forties and rather sooner then that.
SO from this day I'm going to start this challenge with myself. I'm going to save my money or find other sources of income. Hopefully this will make me more independent so that I can retire in 10 - 15 years.
I'm still working so I have my income but I also have a lot of costs ie:
- A loan for my house
- A loan for an apartment (that is being rented)
- Two kids
- A wife
- Maintenance for all my properties, garden, etc...
So to cover all these costs me and my wife are working hard. The rent of the apartment helps to cover the loan of the apartment but there are also other costs that need to be paid. But if I calculate it right then I have small income for the apartment due to the rent. This is of course not enough and I have around $150 dollars profit from it every month.
It's better then nothing but this money is saved to cover the months that the apartment is empty and no rent is being received.
We also have some stocks which gives us some dividend but also this is to low to stop working.
This is my first post but I will give more details in the next one.
I hope this first post is the start of a new chapter and challenge in my life. I hope I can inspire others to do the same or that some can give me good advice and help me with this challenge!