By Sheryl Smolkin
This week Jon Chevreau, the editor of Moneysense magazine celebrated his 60th birthday and the release of the U.S. edition of his book Findependence Day. You can listen to a podcast interview I did with Jon last summer.
In a “must read” blog he wrote to mark the occasion, Jon made an important distinction between early retirement and financial independence:
“Financial independence is not the same as retirement,” Chevreau says. “Ideally, it precedes retirement by decades. It means you continue to work because you want to, not because you have to.”
Exploring a similar topic, on Darwin’s Money, the author debunks some myths about extreme early retirement and says, “The problem I have with people declaring that they’ve retired in an ‘extreme’ fashion is that they’re either not really retired, or they’re relying on a spouse, which, well, isn’t really the same thing.”
So based on the discussion in the two posts above, did guest blogger Robert (a financial planner) on Canadian Dream: Free at 45 really retire at age 35, or has he simply achieved financial independence? To find a purpose in “retirement” he has gone back to school with the goal of eventually living and working overseas.
The same question may be asked of accountant “Retired Syd” who retired in her 40s. On Retirement: A full-time job she muses about the best place to live for the next chapter in her life. Because her priority is friends and family, she concludes that living close to the people she loves is more important than any dreams of settling in a more distant locale.
But She Thinks I’m Cheap has already made the leap to London with his wife and in his latest blog you can read about their experience relocating overseas and re-entering the workforce.
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