Maybe you are aware of a lifestyle called FIRE - financial independence retire early. Their goal is to retire at 40.
I recently learned about this movement and have spent some time reading what it espouses. You might find FIRE worthy to explore as it will help you review your spending and ultimately give you more money to invest.
From the blog of Mr. Money Moustache:
FIRE is simply about making smart decisions with your spending so that you waste less money. This means that you have way more money available to work with.
Living with less may test your definition of happiness.
Happiness is your goal in life, and it comes from meeting certain core Human needs. The thing is, that there are many ways to meet each of these needs – some of them free and some of them shockingly expensive.
For example, improving your physical health is one proven way to be happier. But you can accomplish this with a $2500 per month personal trainer or a $100 set of barbells from Craigslist. Same happiness, vastly different cost.
And as it turns out, there is a similar hack for every single one of life’s major expenses. You can meet all your needs at little or zero cost – it just takes a bit of skill. At this level, you would be able to save almost all of your income.
Or, you can substitute a bit more money and a bit less skill to meet those needs in an (only slightly) more efficient lifestyle, like the one I try to lead. This might allow you to save half or two thirds of your income.
Or, you can spray money in every direction randomly, trying to meet an unfiltered list of wants and needs, and end up with a random but very expensive life, while remaining almost broke throughout the entire thing. This is what most people do, and it leads to saving almost none of your income.
Reading the blog could bring you insight and reinforce some of your financial goals. Leading a meaningful life, caring about yourself and others tends to bring satisfaction. I believe in balance in all things.
When a client asks "do I have enough money to retire?" I respond: "please tell me when you plan to die." Not knowing when you will die, how long your good health will last, puts us all on notice to live every moment; to be present.
Be $ Smart - Learn new skills as what FIRE offers. Toss old habits that haven't worked. Find fulfilling work through your job or as a volunteer. Follow the three S's - spend, share, save. Retirement will come, eventually.
