“Wow, I could never retire early like you guys. How did you do it? You must have been really diligent about saving money for years.”
Uh, nope. Far from it in fact.
Andrew and I retired earlier this year in our mid-50s. Until recently, never did it cross our minds that we could or would actually do so.
In fact, we didn’t even start saving diligently and aggressively for retirement until five years ago. Yikes!
But with some lucky real estate and business moves, we were in a fortuitous position to liquidate everything in Florida, pay off all debt, and retire early even though we are still seven years away from drawing social security.
We are not multimillionaires. Far from it. But we are confident that we will enjoy this next phase of our lives comfortably, even if not extravagantly.
Money aside, friends and acquaintances still question our motive for retiring now, ten years earlier than most folks.
It’s really quite simple. We read a book that changed the way we look at our lives and how we were enjoying it. Die With Zero by Bill Perkins.
The book, which is not really a book about finances at all, emphasizes the importance of maximizing one’s enjoyment and experiences throughout the various stages of one’s life.
After reading the book for the first time five years ago, the seed was planted that Andrew and I needed to spend more time “working to have a life” rather than “living to work.”
We bought a place in Mexico several years ago and started spending more time down there working remotely.
Then, last year after re-reading the book for the fourth or fifth time, it hit me that Andrew and I are in the sweet spot of our lives right now.
Our kids are both grown, they have left the nest, and they are both financially self-supporting.
Our parents are still healthy enough that they do not require our assistance in taking care of themselves.
We are both still young enough and healthy enough to actually enjoy our retirement.
And, after crunching some numbers, we decided that with a very modest lump sum in our pockets from liquidating our assets, we would have money to live for the foreseeable future if we didn’t go crazy with our lifestyle.
And worst case, we will spend more time in Mexico where we can live for a fraction of the cost of living in the States.
It was scary but also very exciting to take the leap of faith and decide to retire early.
And boy, we haven’t regretted a single second following that “crazy” decision.
It’s a cliché but the saying “You Only Live Once” [YOLO] resonates deeply with us.
The cool thing about your life is that you get to live it on your own terms and you have the freedom and power to figure it out as you go.
What your life looks like now does not have to be what it looks like ten, five, or even one year from now. Nor does your life need to (nor should it) look like your neighbor’s life.
Similarly, your estate plan does not need to (nor should it) look like your neighbor’s estate plan. The design of your estate plan, and the tools you use to implement that plan, are entirely up to you with the guidance of your estate planning professional.
The attorneys at My Pink Lawyer® are masters at helping you craft a custom designed estate plan that fits YOUR situation, YOUR needs, and YOUR desires.
You may still think we’re crazy for cashing in our chips early. But that’s ok. It only matters that Andrew and I feel good about our decision.
And, it sure helps knowing that I’ve left My Pink Lawyer® in great hands with the leadership of attorney Amanda Lynch Elliott and her amazing team who continue to provide excellent service to our clients.
I’m not sure what the next ten, five, or even couple of years have in store for us, but I do know one thing. It’s gonna be one heck of an exciting journey!
And I hope your life is too!
Kristen “Embracing YOLO” Marks
Founder, My Pink Lawyer®
