When it comes to retirement, age is just a number. An early retirement can result in pursuing exciting new interests and rewarding second careers. However, funding your post-retirement life requires a strong corpus, which can be built by:
- Saving more, every year
- Making smart investments
- Choosing schemes that beat inflation
- Making a profitable EPF plan
If you’re looking for the right investment options to grow your savings, invest in fixed deposits, which provide higher returns and stability. With a sizeable retirement corpus in place, you can grow your corpus, boost your savings and contemplate an early retirement. Are you wondering how an early retirement can be beneficial? Here are some of the best benefits of retiring early:
1. Create a revenue stream by doing something you enjoy
Retirement can provide you with the opportunity to explore your latent talents, abilities and passion. You can make use of your work experience, knowledge, network or contacts to find a new revenue stream.
Retirement could provide you with exciting avenues for you to earn an income on the side, while enjoying the work you do! By doing something constructive when you retire early, your self-esteem and well-being gets a boost along with your overall net worth.
2. Quality time with family and friends
An early retirement paves the way for you to re-establish contacts with your old school, college and professional friends. Since you will now have time during weekdays, you could meet interesting people, and bond over similar interests. This could lead to interesting and inspiring projects where you can collaborate.
In addition, you get to spend quality time with your family—be it your spouse, kids or grandchildren. You can even take on fun new responsibilities around the house, become your son’s financial planner or your granddaughter’s English tutor.
Additional Read: Why opening an FD Account is your ticket to financial independence
3. Freedom to travel when you want
Without a job and deadlines to hold your holiday plans hostage, you can now travel to your heart’s content. When you retire early, you are more physically fit to take on travel that is physically challenging.
With the enthusiasm and adventurous spirit, you can seek out the unknown and make plans to
explore surfing, hiking, spelunking, scuba diving and snorkelling. With time on your hands, you may feel like your holiday visits are longer and you can get acquainted with the locals’ way of life that you missed on your hurried trips before.
Additional Read: Best 3-Year Investment Options To Boost Your Income
4. You have the time to take better care of your health
Working late nights or in shifts that keep changing ruin your physical health, and adversely affect your mental wellbeing. The pressure to perform and meet targets in certain kinds of jobs may also cause stress-related lifestyle diseases, from blood pressure and diabetes to obesity and insomnia.
If you have the chance to retire early, you can bid goodbye to decades of work-related stress and ailments. Instead you can find the time to exercise, meditate and eat healthy. This not helps in improving your health, but also improves the quality of your life.
While planning an early retirement, consider investing wisely so you can lead your post-retirement life comfortably. With a diversified investment portfolio at hand, retirement is but, the start of a beautiful new phase in your life.
DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.
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