What should I do if I want to retire at 40?

Muốn nghỉ hưu ở độ tuổi tuổi 40 tôi cần làm gì?

1. Is retiring at 40 a trend?

According to current labor law regulations, in 2023, the retirement age for male workers is 60 years and 9 months and for female workers, 56 years. Each subsequent year, 03 months will be added for men and 04 months for women, until the retirement age for men reaches 62 years and for women 60 years.

But that doesn’t mean workers have to wait until they reach retirement age to take leave. We can take early retirement according to our personal conditions. It is possible to wait 20 years of social insurance to be able to receive a pension and then retire, or if economic conditions are stable and do not need to resort to pensions, the employee can always retire earlier .

Therefore, wanting to retire at 40 is completely legal and is pursued by a large number of workers. Because in reality, after this age, we have experienced a lot of pressure and stress at work, and the wear and tear on our physical and mental health is higher than that of our ancestors in the past, so we should retire anticipated. everyone always wants to do.

2. What can you do to be able to retire with peace of mind at 40?

The factor that has a huge impact on retirement outcomes at age 40 is finance. We cannot have a sense of peace and relaxation during the days when we do not have to get up early to go to the company, do not have to meet deadlines, do not have to sleep stressed and dream of working… with financial gaps. . My own life is enough, as are those of my family members.

Therefore, if you want to retire at 40, you must learn and seriously apply financial accumulation at least 10 to 15 years in advance.

2.1. Raise awareness about savings

“Trading boats and selling rafts is not as good as living frugally.” Since ancient times, the value of thrifty consciousness has been enhanced, but at that time there were not as many entertainment goods and services as today, so the temptation to spend is not high .

For today’s young people, the factors that stimulate consumption around them are too great, and the feeling of saving is sometimes a strong ideological struggle. But to achieve the goal of retiring at 40, it must be done.

Retire at 40

2.2. Save before you spend

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When we receive our salary, instead of immediately spending on our favorite items from last month, or spending money wherever we want, we should dedicate our finances to mandatory expenses that we will have to pay in the previous month (like electricity and water bills, gas fees, children’s school fees, rice and salt, etc.).

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Next comes a savings account to prevent illnesses, car repairs, weddings during the month, etc. If you don’t use it, just keep it in your savings account, so try to spend at least 30% each month from this savings. Only when there is a surplus of money can you consider personal expenses such as buying clothes, getting your hair done, eating out, etc. So the lack of spending on necessary items will not appear.

2.3. Choose a simple lifestyle

Enjoying a youthful life full of energy, traveling to explore places, dressing up in nice outfits to make a good impression… it’s not wrong, but we shouldn’t be too competitive and follow the standards of others, different, because the economic situation of each is different.

It is better that when we do not have much financial accumulation, or even when we have a lot, we should still choose a simple lifestyle, maintaining life at an appropriate level:

  • Every year, buy 1-2 new clothes

  • Eat out 1-2 times a month, choose a popular restaurant just for a change of atmosphere

  • Choose a convenient method of transportation rather than choosing a high-value one and then having to borrow money to pay in installments.

What we are aiming for is the future, the goal of retiring at 40. At that time, enjoying a high-class life will truly bring a sense of achievement.

What to do when you retire at 40?

2.4. Daily spending statistics

Don’t underestimate alternative products that can save you a few thousand dong. Tieu Tieu Thanh Dai helped a Japanese woman named Saki buy 3 houses at the age of 33. For larger items, the savings from replacement products can reach millions or tens of millions of dong.

Every day, you should make a list of what you spent during the day, not only to help your brain memorize products and prices, but also to help you keep your spending under control. With a great sense of saving, you will realize that there are many products that can replace the functions of the items you purchased, but at a cheaper price. Such as:

  • Eat local fruits instead of choosing imported fruits

  • Instead of buying a shirt for going out and a shirt for work, you go to Shopee and find a shirt with a design that serves both purposes at the same price as a shirt for going out.

  • Instead of buying vegetables from the supermarket, you can buy them from a market near you, the price is cheaper and you don’t need to go far…

2.5. Choose an investment channel to make more money

Investing to earn more money will help accelerate your early retirement plan. However, with the current economic situation, all investment channels carry some level of risk. Therefore, you should not “put all your eggs in one basket” but have an allocation that can effectively preserve your assets in difficult situations.

It is best to keep 60% of your cash (save in a reputable bank). The interest rate is low but it is a relatively safe investment channel. For the rest, you can buy assets (gold, real estate, etc.) to maintain the value of money. Many of you choose to invest in stocks, cooperate in business, start your own business…, these are all very risky investment channels, you should not choose too much, or should not invest if you have no experience. , knowing that only rely on the advice of others.

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2.6. Take care of your health

In good health, you will save a lot of money on medication and hospitalization costs. Not to mention, retiring early with stable finances and health is the factor that makes your life truly joyful and happy.

Therefore, don’t work too hard to “plow” a lot in the hope of shortening the time it takes to reach retirement. Never forget that health is priceless and that your efforts will only truly make sense when you are healthy. Spend 30 minutes a day walking, cycling, or swimming on weekends, and when you get tired from work, take a break to allow your body to regain energy.


2.7. Don’t put pressure on yourself

If you want to retire early with complete peace of mind, your total assets must be at least 25 times greater than your annual expenses. The orientation is good, the planning is careful thinking, but in reality there are always unforeseen situations that arise, making your journey a little slower.

Don’t get discouraged, have low self-esteem, or think that you are inferior to your friends. “Every tree, every flower, every house, every scene”, take early retirement at 40 years old as a goal to strive and improve yourself, not necessarily at 40 years old, it can be around 45 years old. As long as you make effort and practice this journey, the spiritual and material values ​​you receive will be far greater than those who do not try.

3. Make your early retirement life truly happy and relaxing

Many successful people retire at age 40, but after just a few years, they become bored, have no life goals, want to work again, and have difficulty returning to work. will continue to be dark.

The cause of this problem is psychological, because before retirement you were an active person, you made many achievements, and you were praised by many people. Now at home, my expertise is gone, walking around in a limited space makes me remember and long for the glory of the past.

To avoid falling into this situation, when you take early retirement at 40, you must also find a job or a group to create links, discuss and interact on a daily basis. It might be

  • Jobs with flexible hours and no quotas like running Grab in the morning, making a tik tok channel, taking care of ornamental plants…

  • Join the elderly association, go on a pilgrimage, travel with old friends…

By giving yourself the opportunity to continue to update your life and continue to add value to society, you will help early retirement truly bring the joy and relaxation you always desire.

What should I do if I want to retire early at age 40? – The answer lies within you, and how to get the most suitable and effective answers for your own journey, TalentBold strategist has suggestions for you through the article. I wish you success and soon achieve your goals!

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