The term “cashing out” has many meanings depending on the context. Most people think of things like 401k balances, life insurance policies, and cashing out chips in Vegas. However, there is another little-used definition of to “cash out” that I will apply to my story here. From a Google search:
Cash out – to choose a simpler life style after questioning personal and career satisfaction goals.
That definition pretty much sums it up, but a little elaboration is probably required to get my full point across. In the coming weeks and months I’ll share more about what it means to cash out, and what I plan to do with my life after choosing that simpler life.
Simple living has always been an interest of mine, as has personal finance. It seems only natural to combine my two interests here at CashingOutLife.com. To make my dream a reality I will need to study up on various investment vehicles and strategies for retiring early. Here are just a few of the things I’ll need to learn more about:
- Investing in non-retirement accounts
- Dividend investing
- Self employed health insurance
- Safe withdrawal rates
- Dealing with inflation
- Taxes
- Real estate
- The psychology of being semi-retired
As you can see, I’ll be busy diving into each of these subjects (and many more) as I begin to game plan an early exit from the corporate world. While it nearly seems to be an unreachable goal these days, it is possible to cash out to a simpler existence through disciplined savings and frugal living.
Photo by Katie@!
{ 2 comments… read them below or add one }
I too am working toward cashing out.
Congrats on waking up & snapping out of the lull so many of us American’s have been in for too long!
Keep the blog going man. My advice is to start a blogging calendar to help keep you on track & keep your posts coming.
Not a bad plan at all. It does sound like you have a good grasp of all you need to know, more than many of the people who simply hope to retire at the normal age. Keep up the good work, and I’m sure you’ll meet your goal soon.