Couple clearing financial burden and achieving Financial Freedom Early
These days, I read a lot of articles where many couples share their success stories after retiring early. Most of these magical things happened post-COVID. Having two earning members in the family is a great thing to start with. One person can be a primary earning member, and another person can keep taking risks. This has to happen during the early days of the career because after we get commitments, we cannot keep taking risks. I see many success articles where couples plan their finance at a very young age and by the time they reach their 40s, they are self-sustaining and continue to work.
Financial planning is important
We have to understand that financial planning and financial education is very important. In most of these articles, they say that people make mistakes by not planning their spendings, savings, and investments. When we start getting more money, our mind naturally goes into luxury mode and don't think much about savings. But the interesting fact is that if we save during the early days, we will be able to reap the benefit when we have enough corpus with us.
Spending more time learning about financial planning is very important. Especially for people who are going to have kids and plan their education, financial planning will help them handle unexpected expenses and risks.
Post-COVID financial situation
Some people are lucky to have their financial investments doing good post covid. The market did very well in India, and people who invested in certain mutual funds had their money grow. Some people were able to attain their financial freedom because of that. Even though life changed a lot during COVID and after COVID for many people in the wrong direction, there were so many success stories where people were forced to try new things, and they ended up successful in that.
Financial discipline
Spending enough money on entertainment and family time is also very important. If we stay more conservative just because we have to save the money, we might lose the age and later, if we want to do it, we may not be able to do it because of age problems or financial situations. Having good financial discipline is important. Sometimes lifestyle changes might be required for this, but if we do it properly, early retirement can be a possibility.
These success stories that I read are not from people who already have a good financial background, but it is also from people who build wealth from the ground up. They made some best decisions in their life to be able to sustain a good amount of wealth with a good lifestyle.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
 |
 |
 |
Posted Using INLEO
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 20.00% vote for delegating HP / holding IUC tokens.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
The trick is to understand the needs clearly. Only then is it possible; otherwise, even with a surplus amount, one can easily end up in a financial mess. ☮️❤️
Truth be told, Financial independence and retirement are dreams of many, but only a few are able to achieve them. I have seen retired officers joining private firms to meet their needs. I dont wish that upon anyone. But sadly with the way things are many may have to work way past their retirement.
Retiring at 40 is really good, just that for some paying bills can be overwhelming that they forget to save up for rainy days
here after covid less and less people have financial freedom, and a family cant survive without both 2 of them working and need fixed wages, not much space to take risks or you can't pay bills...
Very interesting post. These stories demonstrate that you don't need to be born rich to be financially stable. Perseverance and tenacity are essential to achieving good investment returns. It's impossible to do everything right away, but with perseverance, a 10-15 year goal for a nice profit is achievable. Perhaps the real lesson is that you don't have to wait for a crisis to change your mindset. !CTP
THat is so awesome that they can retire that early. I also read that there are people who made a fiortune posst-covid as they find the best chance to gain wealth, but more importantly I think how to take a good decision over the finance that lead for the early retirement. the increase in revenue will not do well, if we can managed to fund as it will evaporates quickly is we spend it like crazy.