In 2011, I left behind a six-figure law career and retired at age 41. I thought I was financially ready. But emotionally? There aren’t that many.
Having worked for decades, I was used to the sense of purpose that comes with a career, and I thought I would have to give up that sense of purpose when I quit my job. My biggest fear came in the form of one big uncertainty. It was about what to do with all that unplanned time.
Fourteen years later, my days have never been lazy. My wife and I currently live in Portugal, the number one country Americans want to move to. In her free time, she enjoys local cuisine with friends and hiking along coastal trails dotted with wildflowers. Retiring early was one of the best decisions I’ve ever made…but I remember feeling so overwhelmed at first.
Here’s what I’ve learned from early retirement and why I have no regrets.
1. Uncertainty is an opportunity, not an obstacle
For most of my adult life, I followed a predictable path: law school, summer associate gigs, and ultimately a stable law career. Then came the 2008 financial crisis. The company I worked for went bankrupt, and with it my sense of direction. I couldn’t imagine myself doing anything other than practicing law.
I could have stayed in the industry. But instead I chose the unknown. Most people think of early retirement as no longer working. But it’s about redefining your identity without a roadmap. This required a shift in thinking. I had to become an explorer.
The Sintra Forest, located in Portugal’s Sintra-Cascais Natural Park, near Lisbon, is shrouded in sea mist.
alex trias
That mindset brought us to Portugal. There, I didn’t speak the language, I didn’t know anyone, and I had no idea what was going to happen each day. At first I felt disoriented. But that uncertainty motivated us to grow, learn, and build a fulfilling life from the ground up.
If you’re putting off retirement because you don’t know what’s going to happen next, maybe that’s why it’s worth it. Uncertainty can be an opportunity to take a path you never imagined.
2. You can be financially successful even if you don’t have a salary.
When we first retired, my wife and I slowly drained our savings over time and expected it to last. But something amazing happened. Our net worth continued to increase.
The main reason is that living in Portugal has significantly reduced my expenses. Here’s how much you’ll save annually compared to your previous life in Washington, DC.
$15,000 for state income taxes, $25,000 for health insurance and deductibles, $14,000 for property taxes, and $20,000 for food, entertainment, and daily expenses.
In total, we estimate that you can save about $5,000 a month just by living abroad.
We are following the same financial strategy we used when we were working. That means living below your means, reinvesting the difference, and letting compound interest take its course. The only difference is that our income comes from investments rather than salaries.
Retirement doesn’t have to be the end of wealth building. It could even be the beginning of a more sustainable and intentional version.
3. Finding purpose in retirement is just as important as finding purpose in your career
Most of us want the same thing, whether we’re working or not. It’s about wanting to feel important and contributing.
A collision with a rock occurred at Guincho Beach on Portugal’s Estoril coast.
alex trias
When we first retired, we had a sense of mission as parents to our young children. We participated in school activities, learned the local language, and built a new life in Lisbon.
But when our daughter went to college, we were back to square one. Our schedules cleared and we faced the same questions as in 2011. “What should we do with this time?”
Before we committed to any hobbies or commitments, we made a plan. We have identified six core priorities that bring meaning to your life.
Building and strengthening friendships Personal care and physical health Spending quality time as a couple Traveling Volunteering and giving back Learning new skills
Once I established these priorities, it became easier to build a fulfilling routine.
Currently, my wife volunteers at a tennis club, takes pottery and Dutch lessons, and plays sports. I focus on writing, freelance retirement coaching, and supporting local nonprofit organizations as a consultant. I host dinner parties, explore new recipes, and take excursions throughout Europe.
With the right mindset, early retirement can be the perfect fresh start. You just have to be willing to accept it.
Alex Trias is a former lawyer. He and his wife have been living in Portugal since 2015. He writes about tax planning, investing, early retirement, and expat life on Substack.
Want to be your own boss? Sign up for CNBC’s new online course, “How to Start a Business: For First-Time Founders.” From testing your idea to growing your revenue, find step-by-step guidance to launch your first business.
