Review them and decide what you need to do to achieve your objectives. Change them if you want, but make them your own. Set up a plan to achieve then and stay focused. The main objective is independence. Some of these are both objectives and benefits depending on how you look at them.
Objectives of retirement Super Savers:
- Retirement at 65
- Save at 10% or
- Super save at 20 or 30%
- Retire early
- Change careers
- Independence to do your thing
- Invest well
- Diversity
- Income & growth
- Stay away from high risk
- Work as long as you want then change careers or retire
Fundamentally if you aim to have enough savings to allow retirement to be considered in your late forties or early 50’s, then you really have a lot of flexibility in terms of what you do with the rest of your life. You can keep right on working if that is what you really want to do. You can also play golf every day or travel etc. The point is that you will have the flexibility to whatever you wish to do and not really have to worry about where the money is going to come from.
Some people love to work. But they really do not like the job they are currently doing or they want to start their own business. Now they can do this if they were a super saver during the early part of their career. The one caveat that we want to bring to everyone’s attention is that they need to protect the nest egg they have created. For example we do not think it is a good idea to take all of your savings and sink it into a new business venture no matter how strongly you feel about it. You risk your savings and could find yourself having to go back to work if the business fails for whatever reason. Diversity is always one of the most important caveats of the super savers.