Retiring early requires discipline, focus, and a willingness to make sacrifices." -Unknown
As I scroll through a Tiktok video earlier this morning, a post caught my attention. The video stated that he will just stay in the corporate world at the age of 45 and have his retirement afterward.
Then I left a comment, giving thanks for the reminder, and said that I haven't thought of it yet.
A response was sent to me saying I might have been enjoying things so far that is why I haven't thought of it yet
And that is correct.
I am nearing my fourth year now in the company and not seeing myself sending my resignation paper yet. But as I dig deep... until when I will be working in the corporate world?
For context, I am now 31 and quite healthy but have a slight issue with my carpal tunnel. Given these factors, ideally, the age at which I will not be working is around 60+ since this is the retirement age here in the country.
I might be too old if I do that and I am not 100% sure if I will still be alive at that age.
For males, the average life expectancy is 67.4 years - Worldlifeexpectancy.com
It might be safe that I reach that age but then again certain factors still do play.
But why do we need to retire early?
In the last hearing with congress, they mentioned that it will be *more fun to live life without work-related stress -
House okays bill lowering optional retirement age in government to 56 and I can agree with that.
Being early can give you more time for other important stuff that you haven't enjoyed doing.
There are some that got too focused on their job that forgot to play and have a relationship with their family members.
Work-life balance is such a fairytale and for me, one will surely suffer if you focus on one.
If you have that, kudos to you. But not all can have it at least the majority of us.
In a simple way how can we slowly build our retirement?
One of the best ways is using the compound-interest approach.
- Compound interest is when the interest you earn on a balance in a savings or investing account is reinvested, earning you more interest. Kate Ashford -2022
A good example that I think everyone can relate to is our savings in HBD.
One-Year HBD Savings Interest [Starting Balance: 100.00 HBD]
| SPAN | WITH COMPOUNDING | WOUT COMPOUNDING |
|---|---|---|
| 01 Month | 1.644 HBD | 1.644 HBD |
| 03 Months | 5.071 HBD | 4.986 HBD |
| 06 Months | 10.398 HBD | 9.973 HBD |
| 09 Months | 15.996 HBD | 14.959 HBD |
| 12 Months | 21.944 HBD | 20.000 HBD |
| Total (Savings & Interest): | 121.944 HBD | 120.000 HBD |
From having only 20HBD earnings for a year, you can get 21.944 HBD in total just by saving more and getting your funds back into the pool.
I love the quote “Money makes money. And the money that money makes, makes money.” it sounds like the money's the goal but probably it is during our grinding days. We need to save up A LOT for our future.
How do you establish a good financial habit at this age?
It is hard to have one but having none is much more burdensome. So what I did, for now, is trying to separate a few monies that we had earned and put them into a small savings account. Saving methods, such as tracking expenses, envelop, etc don't work for us. So I treat those funds being moved elsewhere as tax.
Something that once I had allocated, I will not be touching anymore. Some are added in Hive, some are moved into other investments, some are into savings, etc. I had that diversified but not tracked.
I love tracking and have been using excel and Google Sheets at work but for my own mental health, I opted not to. I just let things go as they should for now.
Then again, you do you. Whatever works as long as you can be consistent that's all that matters.
Now at what age should I retire?
Ideally my fifties. If we still have Hive by that time I do hope that we still! I might be continuously blogging in the Silver Bloggers Community sharing the musings of old age.
Planting vegetables in the backyard and doing some homesteading. I might be strong enough to do some menial tasks as such.
So fifties will be a good age for me to stop in the corporate world. Maybe I will just be watching over a small store perhaps?
These are just my musings as I write this down. It will change for sure as I need to talk it over with my wife on what will be our plans going forward.
So how about you? Around what age do you consider retiring? If you are quite younger than me what can you do to achieve such?
I'm 31 and I plan on retiring at the age of 50-55. Though we are still allowed to teach until 65 but I wanna spend my time sa farm, sa mga future grandkids, small business, at mag serve na din sa church (lectors).
Napa-isip ako sa post natu. Wala pa akong savings para sa retirement ko in the future. Yes may mga benefits sa government na matatanggap, peru mas maigi pa din yong may savings. Andjan pa kaya si Hive 20-30 years from now?
Hindi ako sure kung may Hive pa till that age pero malay mo diba? Been here for more than 5 years na and so far okay naman ang experience. There may be more apps that will be available for sure!
Ayun nga din, currently I have SSS as retirement at 2045 pwede na me mag retire per calculator nila perooo yung makukuha ko ay isang cutoff ko lang per month hahaha. Jusme given that we have inflation, baka pang maintenance nalang yung makuha ko or kulang pa.
Something to think of, medyo may edad na tayo hahha kaya needed na natin mag save for our retirement, looks like parang maaga pa pero ang bilis lang talaga ng oras.
Personally I want to retire early from public or corporate job (Healthy and strong), I have plans to make after retirement make my own place, farm crops and animals. I don't want to be employed for the rest of my life, I want to become employer din haha.
Hahaha tunay naman dapat strong parin pag nag retire na.
Ako di ko nakikita ang sarili ko being an employer ewan ko baka chill na lifestyle lang me. Ayaw ko mag isip ng taxes etc hahaha
Iba talaga itong so @eunoia @tpkidkai ano, pero Hindi Naman impossible na maging employer sya.. baka mag apply na Rin Ako sa kanya sa susunod pero di na ata natanggap kasi matanda na hahaha
Retirement, honestly at my age ,lol sometimes I am thinking about this. If that that comes, I wanted to go home in my province, not in my husband's hometown.
Haha, I wanna spend time planting too and yeah maybe still blogging at Silver Bloggers C
Soooo tita /tito yung farming hahaha ako oks na sa San Pablo pero pag last days na gusto ko sa hometoen ko kung pwede man.
Wow sana all may naisip na when to retire, Ako kahit pension sa sss Wala Ako kasi 7 years palang Ang sss ko di pa nag mature hehehehe.
Anyway, about compounding and not compounding not understand it full. Ano ba ibig sabihin Nyan? Example my hbd savings Ako, need ko ba iclaim Ang interest per month? Or hayaan lang?
Oo medyo we are in the age of such sympre we don't want to be a burden for our kiddo in the future naman so sana mas maaga natin magawa diba?
You will need to claim it ate Jen, para madagdag sya sa pool ng savings mo.
In short,yung interest na nakuha mo iclaim mo then i add mo ulit sa savings para magkaroon din ng interest sya.
Ah okay claim in four days pa daw hehehe... Thanks for the advise...
At my early age, nasa isip ko na 'tong retirement hahaha. Hindi naman sa pagiging OA pero gusto ko din kasing maenjoy buhay ko nang medyo medyo bata pa hahaha. Buti na nga lang may Hive at tinitreat ko na 'to as investment :))
I should have done this! Di sya O.A. nako kung nagawa ko ito noon nako siguro yaman na namin. Medyo mura pa ang bilihin that time.
True to that, we have Hive pwede gawing pang savings talaga. Pag may excess ilagay sa HBD at savings.
I haven't thought about retirement and such yet at my age. I believe I should focus on my studies first and give a thought to retirement when I have a stable job and good cash flow.
How could I think of retirement when I have nothing but myself? Lol!
But I like your ideology about how and what it looks like retirement for you kuya.
You are in the right track Denny, I believe you are ahead comparing to the folks at your age since you already delve into cryptospace at may savings na. Ako nung nag-aaral jusme hahah.
Preppin for retirement is a must para sa convenient ng lahat.
Masarap lang talaga ang buhay sa province slow life with Hive on the side.
I think collectively we are all in the same situation, so hindi ka nag iisa beshy. 😆
Wouldn't it be nice if maka retire tayo earlier from our base line? Then Take care of the things that really matters? And from my own perspective 'Retirement' is more of letting go of the job that we have right now, but the 'Work' doesn't stop there.
May nabasa akong quote dati kinda vivid now but it goes something like:
Right now we work for somebody else's business, but i think retirement means we'll be working for our own business later on.
It's really nice, #hive existed because of the savings compounding interest is far greater than of bank rates. (That's Investment)
Outside of Hive, siguro check mo din ang pag kakaron ng negosyo, napag aaralan naman ang lahat and baka makatulong yun hashtag ni Francis Kong #PassionPurpose kung ano yun passion mo yun yung gawin mong business, starts small and palaguin. So ayon lang. This is a really good read btw. Nakakareflect sa mga bagay bagay hehe !LUV
PS: your hands are your bread and butter, so after shift cold/hot compress mo beshy ang kamay na gamit pang mouse, tapos i-exercise mo ang hands 🙂
@tpkidkai, @sensiblecast(1/1) sent you LUV. | tools | discord | community | HiveWiki |
NFT | <>< daily
Can't agree more on this beshy - sobrang nice if we can enjoy things in life outside clocking in and out from our workbench or whatever that is.
This! Still needed parin mag work talaga haha, unless we have the fortune of the business conglamorates kailangan parin mag work.
This is why I mentioned na probably a small sari-sari store or planting veggies. Di sya sustainable pero probably might.
Yeah! Checked the interest na nakuha ko sa bank I got 2 pesos! WOW na wow! Ang making help.
Hihi thankies sa !LUV also following Francis Kong and love his insights about life and application of Christianity on the side din.
? PS: your hands are your bread and butter, so after shift cold/hot compress mo beshy ang kamay na gamit pang mouse, tapos i-exercise mo ang hands 🙂
Nakakalimutan ko tong compress pero hand exercise I do it pag relax time
Thank you ulit beshy hahaha.
@sensiblecast, I think this message was meant for you. Just wanted to make sure you saw it.
Yes I was able to read it last night, Thanks so much! 🙂✨
Retiring early, that's what I plan din sana kaso naisip ko, wala nga pala akong work aguy, lol. But seriously, to do this need talaga ng plano ee and sa pag iipon and making sure na may naitabi. Kapag ganyan, hayahay nalang ang buhay. Pero maganda din yong kahit retired kana ee gumagalaw pa rin ang pera mo sa banko, lioe ilagay sa saving at ng lumago. Crypto is the answer. Basta ba sure na yonf paglalagyan ng kwarta at legit, lol.
Luihh di kumagat ang reply ko dito jusmeee.
Sa true lang tayo lahat naman gusto mag retire na mas maaga. Sa dami nating pagod sa life mga 30 years na retirement na buhay siguro why not anu?
Sa totoo lang ang laking help talaga ng crypto for us and everyone talaga!
Ano kaya ang life expectancy ng females? Parang natakot ako bigla... Haha
Mas matanda pala ako sa'yo, ngayon ko lang nalaman. Haha
Mas maganda mas maaga magretire.. Haha
if basing sa lolo and lola ko, lolo died at 82, lola at 96, i guess mas matagal ang women. hihi
Hehe... Ang sarap makaabot ng 90
HAHAH mas matagala ang life span ng gurls over guys.
Shocks! Di ko din alam anyhow age is just a number ang mahalaga may kid parin sa username ko haha.
Ahahahah... Oo nga ngayon ko lang napansid ang kid
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!LUV it. It's good to think about this while you are still young-ish, TP. Speaking from experience, 45 years old is a good age to target. Having the means and the conditions to retire earlier is a luxury that few can afford. I'm lucky that I'm not the only breadwinner in the family, and that I have a little saved up. Most people here in our country don't really know how to plan for retirement so in that aspect of life you are already way ahead of most. If you can save up a large chunk of your take home pay and invest it wisely, I believe you will be able to achieve this goal even earlier. Of course, I made a lot of mistakes investing but that is all part of the learning process that you have to go through. Good luck!
45 is a good number din Juan! Probably wala na ako dito sa company ko and doing some freelancer jobs perhaps pag ganyan. Who knows diba the Hive earnings that I can get is on the whale status na haha. We will never know.
But on the light side, we all have different starting point naman talaga so kung ano ang meron on our side mas pag yamanin pa ntin.
Medyo di pa sya kasya sa ngayon since ako lang ang main provider hopefully once our situation has been changed.
There's also that element of the unknown that "luck" plays in our life whether we believe in it or not. Ang mahalaga ay handa ka kapag dumating ito. !PIZZA
I gifted $PIZZA slices here:
@juanvegetarian(3/5) tipped @tpkidkai (x1)
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If we have that enough savings and investments to sustain our daily needs. Much better to retire earlier. So that we have still energy to do the things we wanted and love to do. But our priorities must be the first thing to do. And health is wealth so listening to our bodies could be of great help also.