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How Anyone Can Retire at 32

How Anyone Can Retire at 32

While this may sound like an outlandish statement, this goal remains more than achievable in 2014.

“Sure,” I can hear you say, “you could win the lottery, for example, or inherit a financial windfall from a beloved and wealthy relative.” Each of these eventualities may enable you to retire immediately, while also negating the need for you to ever work again.

While this is true, such a goal can also be accomplished through hard work, frugal living and sound financial planning. This is why early retirement is an option that remains accessible to everyone, although whether you not you choose to chase such a dream is entirely up to you.

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Retirement Age

    Leading by Example: A Template for Early Retirement

    In order to illustrate how this is possible, I will be using the example set by a close family friend of mine. He is now 33 and officially retired last year, although he still likes to invest some of his hard-earned income into profitable ventures and schemes. He no longer works for others, however, and nor does he operate full-time as a freelancer or independent contractor. This is a dream that he pursued relentlessly and strategically from the time when he was studying at university, as he decide at the age of nineteen that he had no desire to work full-time within a soulless corporation.

    The exact inspiration for this life goal is unclear, although he was obviously influenced by the experience of his parents. They toiled hard for an entire generation; retired in ill-health at 65 and barely had enough money to live the comfortable life that they deserved. He drew great inspiration from this, and vowed not to give so much of his life in pursuit of such intangible returns. Instead, he developed a clearly defined and fast-tracked plan for financial independence, which would begin in earnest at the age of 22 and ideally end with his official retirement a decade later.

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    As he was studying marketing, he initially decided to combine his studies with freelancing as a content writer and online consultant. He started during his second year at university, and spent 9 months or so developing his reputation and working for relatively low levels of remuneration. In year 3 he increased his client range and fees, however, and set out to earn £48,000 per annum after taxes during this 12 month period and repeat this throughout the following decade. While this figure was conservative, he would at least be able to avoid VAT liability and higher tax rates in the process.

    Execution and the Importance of Frugality

    In real terms, this plan translated into spendable income of roughly £4,000 per month. This is where the execution of the plan came into play, as he deemed it realistic to save an estimated 70% of this monthly income into a high-yield savings or investment account. The remaining 30%, or £1200 in simple terms, would be used to live on and settle all outstanding bills. This worked seamlessly during his final year of studying, and by the end of this, he had managed to save an annual total of £33,600 at a generous interest rate of 8%.

    Once he had left university, he found it far more challenging as he faced a constant struggle to keep living costs down. Although having just under £15,000 per annum to live on is far from ideal, he felt that his ability to adopt a frugal lifestyle would ultimately determine whether or not this could be done successfully. So he quickly began to minimize costs, initially by moving back in with his parents temporarily and accessing real-time promotions to cut everyday costs, such as food, beverages and those associated with energy consumption.

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    As the years progressed and he continued to hit his savings targets, so too he developed even more frugal living measures. These included embracing the thrift market, and investing in second-hand clothing and accessories. He also decided to travel exclusively on public transport, even cycling or walking where routes and distances permitted. Over time, his seemingly far-fetched dream became an actionable and strategic plan, which quickly evolved thanks to patience, discipline and an ability focus on a single-minded goal.

    How to Use This Lesson to Fund Your Own Retirement

    By the age of 32, my close friend had managed to save £33,600 at a fixed interest rate of 8% for 11 consecutive years. This had created cumulative savings of more than £520,000, which could then be used to fund his retirement and achieve life-long financial goals. Almost immediately, he plowed £150,000 into a modest but functional home of his own, and distributed £300,000 across various investment savings accounts with interest rates with variable risk and interest rates of between 6 and 8%. He then used the remaining £70,000 to create an investment portfolio that included shares and other derivatives, and strived to turn this into incremental profit over time

    He is now enjoying the fruits of his labor, and lives comfortably while having the power to determine when and how he invests. This is a template that can easily be followed by anyone, although each individual must apply their own interpretation and translate this into a retirement plan that suits you. It is imperative that you visualize your retirement and determine exactly what you want from it, before implementing a viable time frame and actionable strategy. You may not wish to invest your capital once you have officially retired from work, for example, which means that you may need to save for longer and create a large fund to live on.

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    Another key lesson to learn is the importance of frugality, which is crucial if you are to turn a seemingly fanciful vision into a realistic and achievable goal. As this example proves, early retirement of any description is only possible if you remain focused and are willing to make significant sacrifices with regard to your lifestyle, as otherwise you will be unable to save the requisite amount for the required period of time. Without a commitment to frugal living, you will be forced to work longer and delay your individual retirement plans.

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    Last Updated on April 19, 2021

    40 Healthy And Really Delicious Meals You Can Make Under $5

    40 Healthy And Really Delicious Meals You Can Make Under $5

    Ever had those moments where you really wanted to eat something delicious and healthy but didn’t have the financials means to do so? Whether you’re a student or parent, this compilation of 40 great, healthy, and inexpensive recipes will make every night special and help you get fit! No more meals where you have to force the food down! It’s time to make that budget your best friend and turn it into great recipes. Enjoy!

    1. Fish Tacos in Crunchy Shells ($3.56 per serving)

    Is there a better way to end the day than a Fish Taco dinner filled with protein and nutrients and is easy on the wallet? This recipe calls for a boys’ or girls’ night in front of a good movie or game.

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      2. Mini-Meatball Noodle Soup ($3.43 per serving)

      We’ve heard of the delicious spaghetti and meatballs recipes, but imagine having that same meatball goodness in a soup? It’s like Christmas in a bowl. Healthy, warm, and only $3.43 per serving.

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        3. Spaghetti and (Vegan) Meatballs ($2.13 per serving)

        Now it’s time to look at the traditional spaghetti and meatballs recipe, but with a little twist: vegan meatballs. This way, you can enjoy the Italian tradition without adding on the extra calories. I’m sold!

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          4. Kabocha Squash and Lentils ($3.12 per serving)

          Absolutely delicious way to end the day with a Kabocha Squash and lentils dinner. The beauty of this recipe is that you can actually make many other things from the mixture, from dips to full-on meals. All under $5 per serving.

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            5. Baked Coconut Lentils ($0.91 per serving)

            Coconuts are always a good idea, but it doesn’t have to be eaten only for dessert or breakfast. With this great recipe, you can now eat a lunch or dinner filled proteins and a coconut twist. Yum!

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              6. Easy Marinated Roasted Chicken ($3.40 per serving)

              We love chicken and at less than $5 per serving, we are in heaven with this recipe. Add some vegetables and rice on the side and you’ve got yourself a full meal!

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                7. Organic Greens and Goat Cheese Gratin ($2.36 per serving)

                This is absolutely divine. You get in your healthy greens and your fat macros with this great recipe. Takes only a few minutes to make and it’s easy on the wallet. Bon Appetite!

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                  8. Beef Pot Roast ($3.22 per serving)

                  One word: perfect. This meal will warm your insides and fill you up with the high protein content.

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                    9. Fajita-Style Quesadillas ($0.43 per serving)

                    If you want to eat Mexican tonight but want to stay in your budget, this Quesadilla recipe is your best friend. It’s tasty and filled with healthy ingredients for less than a dollar per serving.

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                      10. Fish Tostadas with Chili Lime Cream ($2.82 per serving)

                      Another great lunch idea for the busy days ahead. Prep this in the morning or the night before and you’ve got yourself a healthy and cheap lunch meal!

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                        11. Beef and Black Bean Chili ($1.36 per serving)

                        Might not look like much, but this amazing chili is actually extremely healthy for you. The protein from the beef and the carbs from the black beans will fill you up in no time, and keep you full for a long period of time. Delicious and warm, just right for the winter!

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                          12. Crispy Fish and Peppers ($2.18 per serving)

                          Amazing recipe for anyone looking to change up their meals while keeping their macros in check and not going overboard on spending. Satisfies your crunch tooth (see what I did there?) and gives you all the protein you need to stay full and lean.

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                            13. Vegetarian Gumbo ($1.50 per serving)

                            You have the perfect macro mix here with the carbs, fats, and proteins. At less than $5 per serving, you’ve got yourself a meal that will last for the whole week!

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                              14. Mexican White Bean Soup ($0.99 per serving)

                              With the cold weather creeping in, it’s not a surprise that soups are coming back in style. This great Mexican White Bean Soup dish will keep you warm for winter without making a hole in your pocket.

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                                15. Black Beans with Mango & Cilantro ($0.38 per serving)

                                Mangoes make every dish a little bit sweeter, which is why we absolutely love this recipe. A normal rice and bean dish might be a little meh, but add the sugary taste of mangoes and you’ve got yourself a party!

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                                  16. Bean Burritos ($0.71 per serving)

                                  If you’re having people over tonight and don’t want to spend too much time or money on food, this dish is a great option! You can even cut up the burritos into pieces and make finger foods while everyone’s watching the game or gossiping.

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                                    17. Five-Spice Beef Kabobs ($2.43 per serving)

                                    The spices in this recipes add a delicious twist to the beef kabobs, which is definitely worth trying!

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                                      18. Cornmeal Crusted Pork ($1.92 per serving)

                                      If you like the fried crunch but want to opt for a healthier alternative, cornmeal is your man. This healthy recipe will satisfy all your fried desires without making you pop open your pant’s button.

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                                        19. Chicken, Tomato & Cucumber Dinner Salad ($2.57 per serving)

                                        Easy to do, extremely healthy, and super delicious. A must-try!

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                                          20. Lentil Soup with Beef and Red Pepper ($1.90 per serving)

                                          I can’t believe how cheap this meal is, especially for all the nutrients it contains. You can make a big pot on Sunday night and divide it into small portions to last you a whole week.

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                                            21. Smoky Mushroom Stroganoff ($1.90 per serving)

                                            Craving pasta but not sure what to top it off with? How about smoky mushrooms with a twist?

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                                              22. White Bean Tuna Salad ($1.36 per serving)

                                              You can add this White Bean Tuna Salad in your sandwich or just eat it as-is for a quick lunch on a busy day.

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                                                23. Sausage Eggwiches ($0.80 per serving)

                                                Who says you have to eat fast food to get an eggwich? This delicious recipe will give you an amazingly healthy eggwich for less than a dollar per portion. Can you say Breakfast?

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                                                Sausage-Eggwiches

                                                  24. Baja-Cali Black Bean Salad ($1.17 per serving)

                                                  Great snack to add to a movie-night with friends. You don’t have to use chemically-processed salsas anymore, you can now use this homemade salad for your chip dips.

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                                                    25. Gnocchi, Sweet Corn & Arugula in Cream Sauce ($2.24 per serving)

                                                    Italians always knew how to make carbs look good! This delicious Gnocchi recipe will give your lunch a whole new meaning. Easy to make and only $2.24 per serving.

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                                                      26. Vegetable Lasagna ($1.73 per serving)

                                                      If you were looking for a healthy lasagna, you’ve just found it. At under $5 per serving, you can fill yourself up right away without putting on the extra calories.

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                                                        27. Fajita-Ranch Chicken Wraps ($2.05 per serving)

                                                        Don’t know what to make for lunch this week? How about delicious chicken wraps with a healthy ranch? This recipe will make all your lunches, even the quick ones, healthy and colorful.

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                                                          28. Quinoa with Pan Roasted Brussels Sprouts ($1.24 per serving)

                                                          A dish that has quinoa and brussel sprouts can’t be unhealthy, it just can’t, which is why this dish is one to keep in the books. Easy to make, healthy, and will keep you full for a long period of time.

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                                                            29. Butternut Squash Chili ($1.04 per serving)

                                                            You don’t need meat to make chili now that you have this recipe! It’s 100% healthy, filling, and smells absolutely delicious.

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                                                              30. Fast Shrimp Bisque ($2.03 per serving)

                                                              Seafood doesn’t have to be expensive if you know how to do it right, and this fast shrimp bisque is a great recipe to try if you’re in the mood for some seafood!

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                                                                31. Chicken-Noodle Casserole ($0.98 per serving)

                                                                Looks divine doesn’t it? This super easy to make dish will satisfy all your taste buds without burning a hole in your wallet or adding a few extra numbers on the scale.

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                                                                  32. Burrito Cups ($1.18 per serving)

                                                                  Entertaining someone tonight and don’t know what to make as appetizers? These burrito cups are a great alternative to chips or other greasy finger foods. All you need to enjoy it is a spoon and a cup.

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                                                                    33. Lemon-Dill Shrimp & Pasta ($2.45 per serving)

                                                                    Another impressive shrimp recipe under $5 per serving. The lemon-dill twist adds a great taste to the dish.

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                                                                      34. Potato Frittata ($0.87 per serving)

                                                                      If you want to eat potatoes for breakfast but still want it to be healthy, this is the recipe for you. At under a dollar per serving, this potato frittata will make you see potatoes in a whole new light.

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                                                                        35. Grilled Pork and Pineapple ($2.67 per serving)

                                                                        Meat and fruits? Oh, yes. The juiciness of the pork mixed with the liquid sugar in the pineapple will make you wish you knew about it sooner.

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                                                                          36. Greek Honey-Lemon Pork Chops ($2.15 per serving)

                                                                          Another splendid recipe mixing sweet and salty for a healthy meal. Easy to make and absolutely mouthwatering.

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                                                                            37. Jamaican Pork Stir-Fry ($2 per serving)

                                                                            You can add this healthy stir-fry to any dish as a side or amply enjoy it as-is for lunch or dinner. You can even make a wrap sandwich out of it if you’re in a rush to eat.

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                                                                              38. Herbed Salmon ($2.49 per serving)

                                                                              Salmon contains a healthy dose of fats that will boost your metabolism, lower inflammation, and make you happier. At under $5 per serving, need I say more?

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                                                                                39. Five-Spice Pork Kabobs ($1.96 per serving)

                                                                                Exquisite recipe under $5 per serving that will most definitely awe everyone at your dinner party.

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                                                                                  40. Stuffed Sweet Potatoes with Mango-Black Bean Salsa ($1.24 per serving)

                                                                                  You don’t have to eat sweet potatoes alone anymore with this flavorful recipe.

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                                                                                    Featured photo credit: Featured Photo Credit: 5 Dollar Dinners via 5dollardinners.com

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