Advantages and Disadvantages of Retiring at 50
By Jtile0 Jtile0
We shall be looking into one of the most controversial topics in the recent generation is it feasible to retire by the age of 50? Many management gurus have come for and against such practices. We shall be sticking to the elementary concepts. Retiring at 50 is a dream comes true for most of the professionals, who have been breaking their backs working all the major share of their lives.
What is the necessity to work? To make money. Why is money important? So that you can feed the family and take care of their daily needs such as education. Ok, so what if you have ample money to take care of all these needs? Isnt it worthwhile to opt for retiring at 50? Many might answer yes, but the intelligent might answer no. Why? The global economic condition is worsening with the passage of each day. With the passage of days, many are realizing that they are no longer needed by the parent companies. In such a situation, is it wiser to opt for retiring at 50? Now the people who had thought yes earlier will be running helter shelter to correct their views.
The cost of living along with the prices of various day to day commodities will only keep on increasing. Imagine the cost of a meal that you used to have in your school days and the cost of the same meal on this day. Is anything striking? Economic gurus and various other management experts are of the opinion that the situation will continue to keep on worsening and it might take at least 2012 to the situation to stabilize globally. Therefore, if these people are true, you should be thanking your stars to be still on your respective jobs.
In the authors opinion, it is safe to practice retiring at 50, but there are certain strings attached. The first one among them is that you should always have a back up plan. By back up plan, I mean there should be some other source of steady income. This can be either done by resorting to work from home activities such as freelancing or investing in share markets or stock exchanges and forex market. Forex is the most preferred market because of its 24×7 availability on all the days ranging from Monday to Friday.
Freelancing while sitting at home is lucrative moneymaking field. There are plenty of people who started freelancing as a side business, but seeing the amount of money that can be amassed, they quit their regular jobs and started concentrating on the freelancing job. Retiring at 50 suddenly becomes a ripe opportunity for making money during the idle times that you will be spending watching TV or browsing the same websites for the umpteenth time. If you have a computer with internet access, you can start a freelancing job and which the passage of time you should be able to find more clients.
Mick Lock is author of this article on Insurance For Over 50s.
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