2023-08-20 18:35:42
Despite galloping inflation and rising interest rates, can we aspire to retire at 40? A Quebec author believes so.
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Jean-Sébastien Pilote published his book “Retirement at 40: how to outsmart the system to achieve financial freedom” in 2021, but he believes that his recipe is still valid in 2023.
In an interview with TVA Nouvelles, the author explains that to achieve this, everything goes through savings and investments in the stock market.
“The key is really saving,” he says. In a world of overconsumption, just by reducing your expenses a little, by managing your budget better, by investing in the stock market, it all happens by itself. It’s time that does things.”
According to him, to cope with inflation, it would only be necessary to cut a little more in certain places.
“It’s still possible, it’s just that you have to make cuts in certain places in budget items, for example, cuts in expenditure items that don’t really bring us pleasure, such as magazines, applications or things like that, just by cutting your budget a little so you can still enjoy life,” he says.
“It’s really important for me to go to restaurants, to go out, we travel a lot, we leave three or four times a year, adds the author. So these are budget items on which I am not regarding to cut. On the other hand, everything else for me is nonsense so it’s easy for me to abstain from using.
Jean-Sébastien Pilote believes that this ambition would not be possible for everyone, but that many might aspire to it.
“I wouldn’t say everyone, it still takes a lot of discipline, it’s better to be in a couple, there are different factors like that that speed up the process, but the fact remains that for 90% of Quebecers who have an average salary, they might aspire to financial independence before the age of 50,” he believes.
However, passers-by interviewed by TVA Nouvelles disagree.
“No, it’s impossible,” says a man.
“It’s very difficult, everything is expensive, and no, I don’t think so,” adds a woman. What are we cutting?”
“With inflation, I find it a difficult feat,” says a passerby.
Mr. Pilote called several followers of his book to an event on Sunday held at Jarry Park in Montreal, where a few dozen people showed up.
Watch the full explanation in the video above.
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