Saving for retirement can be a daunting goal. The good news is, you don’t have to do this! Retirement is just a concept that you’re free to alter or ignore entirely. Here are some alternatives to saving for retirement that can reduce the stress and strain of this lifelong task.
Live Somewhere Cheaper
Either during your working years or in your retirement years, consider living in a country or state that has a significantly lower cost of living. If you live in an expensive US city, consider living in a cheaper town in Mississippi during your retirement years. Alternatively, consider spending your working years living in a comparably affordable place such as Vietnam or Costa Rica and working for a US-based company, effectively leveraging the US dollar against the local economy.
Volunteer
In your working years, consider volunteering in exchange for room and board. You may be able to save whatever money you accumulate through part-time paid work for your retirement years. Alternatively, consider volunteering in a similar fashion during your retirement years. You may not need much money at all to survive.
Rent Out Your House
If you’re ever able to afford a house, consider renting it out and living in a more affordable fashion instead. Rent a cheaper apartment, camp out in the woods or live the van life, and use the rental income to support your other needs.
Saving for retirement is a huge task. Remember, there are many different ways to save and to retire in comfort.