300 paychecks is what you will get if you work from age 35 to 60 and receive a monthly paycheck. Wouldn’t it be nice to only have to work for 200 paychecks then relax at home, retire early and live your best life?
It is actually very possible and there is a global FIRE movement championing this cause. FIRE stands for Financial Independence Retire Early. It is a movement of people who aim to retire early and not be corporate slaves until they are 60. I repeat it is very possible.
It will sound simplistic but the key to retiring early is to reduce your cost of living by as much as possible in your early years. Then use the savings generated to fund investments. The last step is then to let the magic of compound interest do the rest. There are people who are gurus at this and my favourite local bloggers are Stealthy Wealth and The Investor Challenge. Please do check out their blogs. They may change your life.
There are other ways obviously and these include entrepreneurship, side gigs, inheritance, winning the lotto and betting on the right horse at the Durban July. This is not an exhaustive list of how to make money. I just thought of 5 other ways! While all of these are possible I do recommend that while you are working on your big break or for your birthday numbers to win the lotto you implement some of the FIRE techniques in your life.
So where does this leave us? Stats show that only 5% of South Africans have enough money saved up to sustain themselves in retirement. If you are salaried employee with no other income you may only have 300 paychecks to sort it out. Count each one of them and make them work very hard for you.
Image used belongs to Stealthy Wealth
300Paychecks 
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