I started this blog to keep track of my progress towards early retirement because I wanted a change. I had come to the realization that I found something that I liked: blogging, or more generally, running my own business. Many people have critiqued my early retirement plan as not being true retirement. If they are talking about stage 2 of my early retirement plan, then they are correct. It is at this stage that I am still building passive income. Once I establish a nice portfolio of blogs, I estimate that I will be able to generate enough income from my blogs without having to work more than 3 days a week.
Being able to accomplish this goal takes focus and motivation. Without the motivation to accomplish something as radical as retiring by the age of 27, I would get nowhere. So why exactly do I want to retire early? What seems so appealing about it anyway?
My Motivation for Early Retirement
When I first started planning out this crazy idea in my head, it was initiated by two factors. The first is that I have been in school for the past 7 years of my life – 4 years of college and 3 years of graduate school. I have also been working full-time while in grad school to make ends meet with my wife. I didn't have the best-paying job at first and we were barely making ends meet. I didn't like this feeling one bit, but more importantly, I hate being so busy that I can't enjoy life to its fullest. My days are often filled between work and studying and I can't remember the time that I had a full weekend without thinking of the homework that I should be doing. My early retirement plan is thus motivated by a strong desire to have the freedom to do what I want in life. I don't want to wait until I am old and wrinkly to really do what I want.
Secondly, my motivation for early retirement is also found in my passion for blogging and running a business. I enjoy writing about personal finance, but more importantly, I enjoy the planning, discipline, research involved in making a successful business. Accomplishing this feat would be a huge success story – it is one that sounds completely crazy. How often have you heard of someone retiring by the age of 27? Not very often.
My motivation for early retirement isn't to avoid work or to be lazy. I still plan to manage my business with 3 days worth of work each week. After all, I don't just want to stop living or watch TV all day. Instead, I want to live life to its fullest. I don't want to be tied down or stuck in a 9-to-5 job. By working toward creating a sustainable passive income stream, I can achieve this goal in a matter of years.
Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author. He's been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What's Your Story, and more.