Retirement is based on income and not age or a huge nest egg.
If you have passive income that meets or exceeds your living expenses, then you can retire or "call it quits" at your day job anytime you want. You will no longer have a dependence on a paycheck and exchange your hours for dollars.
ฝากขายทาวน์เฮ้าส์ What is passive income? Passive income is income you generate on a consistent basis which requires little to none of your own time. Passive income can make early retirement a reality. Your bills come in monthly, so it's vital that you have passive income coming in monthly to pay them. Why spend 40 hours a week at a job you don't like to pay your bills if you can spend ten percent of that time acquiring real estate to generate passive income?
Saving your way to retirement is a bad business model. It is possible for you to outlive your nest egg and may be forced to rejoin the workforce in order to pay your monthly bills. Or, you may be forced to move in with family and have them take care of you.
Also, placing your money in a retirement account is not wise, for you never know if the stock market may tank by the time you retire and your 401k is reduced to a 201k. I've witnessed this secondhand when I used to work for the federal government. In 2007 when I entered the workforce, some of my colleagues were just leaving the workforce to retire. However, many of their 401ks lost value as a result of the crash.
If your money is invested in multi-family properties you acquired with business credit, the real estate market crashing has little effect on your cashflow. Sure, the value of your multi-family properties may drop in a down market, but I never heard of a property owner reducing his/her tenant's rents as a result of a down market. As a matter of fact, I always heard of property owners performing rent increases every year to increase their cashflow.
On another note, why would someone wait until they turned 65 to start living life when they can start living life in the next five years or so? I started investing for cashflow at 26 years of age. Now, at 30 years of age (four years later), I wake up whenever I want to, travel wherever I want to, and do whatever I want to with whoever I want to. I don't have to submit any requests to take vacation time. I've reached the goal of early retirement by realizing at an early age that retirement is based solely on passive income exceeding your monthly bills and not reaching a certain age for a nest egg or the government to take care of me.
Investing in real estate with the goal of receiving cashflow will enable you to retire at a young age. When you reach early retirement, work will be an option to you and not an obligation.
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