Deciding when to retire was a big decision for me because it affected my finances, health, and lifestyle. I used to think I’d work until my 60s, but over time, I realized I wanted something different. I didn’t want to wait until “retirement age” to start enjoying life. Instead, I chose to retire early and create a life that gives me freedom, flexibility, and fulfillment. Of course, this wasn’t a decision I made overnight. I had to plan, save, and make sure I was truly ready. In this post, I’ll share why I decided to retire early, how I prepared for it, and what made it the right time.
Why I Decided to Retire Early
My decision to retire early started when I was married to my second husband, who was 10 years older than me. We had planned for him to retire at 63 so he could enjoy his freedom while still young. He wanted me to retire with him so we could travel together, and I agreed.
To make it happen, I closed my business and was ready to embrace this new chapter. But then, the pandemic hit. Not only did it put our travel plans on hold, but it also strained our relationship to the point where we decided to separate.
After our separation, I felt the pressure to go back to work. I was still in my fifties, and working until my mid-sixties seemed like the “normal” thing to do. I first returned to a dental office for a few years, then later moved on to a law firm. But after six months of long commutes and stressful days, I realized this wasn’t the life I wanted.
That’s when I made the bold decision to quit my job and rethink what I truly wanted. I no longer wanted to work just because it was expected. Instead, I wanted to find purpose, freedom, and a lifestyle that made me happy. That’s when I finally decided it was time to retire for good.
Preparing for Early Retirement
To make early retirement possible, I had to make big changes. Financially, I wasn’t prepared to stay in California, where the cost of living was too high. So, I decided to simplify my life completely. I made a plan to live in a place where my savings would allow me to enjoy life without worrying about money.
My first plan was to join the Peace Corps for two years, giving me a chance to live in another country while fulfilling my long-time dream of helping others. Unfortunately, that plan fell through at the last minute leaving me to figure out my next move.
Instead of settling down right away, I went with Plan B and chose to travel. I decided to solo travel to fulfill my longtime dream of exploring different countries. I had no set plans for the future—just a desire to embrace new experiences and learn along the way.
Steps I Took When I Decided to Retire Early
When I decided to retire early, I knew I had to make major changes to my lifestyle and finances. To live without a steady paycheck, I needed a plan that would give me financial security while keeping my expenses low. Here’s what I did:
1. Investing Wisely
When I decided it was the right time to retire, the first thing I did was sell my house. It was my biggest expense, with ongoing costs like taxes, insurance, and maintenance. Owning a home no longer made sense for my new lifestyle.
By selling my house, I was able to invest my money in safe, income-generating options like mutual funds and CDs. This decision allowed me to stop working while maintaining financial stability and steady returns. Letting go of homeownership was a big step, but it has helped me stick to my monthly budget and live within my means.
2. Simplifying My Expenses
To make early retirement possible, I focused on cutting unnecessary costs and creating a clear budget. I started by figuring out how much my monthly expenses would be and set a budget accordingly. I reduced my bills by switching to more affordable options, eliminating services I no longer needed, and being mindful of my spending.
By making these changes, I lowered my living expenses from $4,500 a month to $1,500, allowing me to sustain my new lifestyle. However, this didn’t happen without major lifestyle adjustments.
I’ve had to be very frugal, carefully managing my spending and prioritizing what truly matters. Even with traveling about six months out of the year overseas, I have been able to stick to my budget while enjoying a fulfilling and financially stress-free retirement.
3. Living Rent-Free
Since deciding to retire early, I found ways to cut costs, especially on accommodations. Instead of paying for rent or hotels, I joined a house-sitting program like TrustedHousesitters. It allows me to stay in homes for free in exchange for taking care of homes and pets.
This has saved me a significant amount of money each month while giving me a place to stay. It has also allowed me to meet new people and experience different places without burdening family and friends.
By eliminating rent, I can continue exploring without worrying about my budget. At the same time, I’m being smart about how I stretch my fixed income. This has been a key factor in helping me stay within my budget and making early retirement possible.
Living My Best Life
Even though I live frugally, the freedom to spend my time however I want makes it completely worth it. Living within my means hasn’t always been easy, but it’s never felt impossible.
Deciding to retire early was the best choice I ever made, and the timing couldn’t have been better. I know this was only possible because my daughters became independent, and I had enough savings to support this lifestyle.
Looking back, I wouldn’t change a thing—if anything, I would have done it even sooner. This journey has been incredibly freeing, allowing me to create a life of purpose, filled with meaningful experiences and personal growth. I’m grateful every day for the opportunity to live life on my own terms.
