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In 2011, I left a six-figure law career and retired at 41 years old. I thought I was prepared financially. But emotionally? Not so much.
After decades of work, I was used to the sense of purpose that comes with a career, and I assumed that I would have to give it up once I stopped working. My biggest fear came in the form of one big uncertainty: What am I going to do with all this unstructured time?
Fast forward 14 years later and my days are anything but empty. My wife and Now I live in Portugalon Number 1 country Americans want to move to. I spend my free time enjoying local food with friends and walking the coastal paths dotted with wildflowers. Retiring early is one of the best decisions I’ve ever made…but I remember how overwhelming I felt at first.
Here’s what I’ve learned so far in early retirement and why I have no regrets.
1. Uncertainty is an opportunity, not an obstacle
I followed a predictable path for most of my adult life: law school, summer associate gigs, and eventually a steady legal career. Then came the financial crisis of 2008. The company I worked for collapsed – and with it my sense of direction. I couldn’t imagine doing anything other than practicing law.
I could have stayed in the industry. But instead I chose the unknown. Most people think that early retirement means not working anymore. But it’s about redefining your identity without a road map. This required a change in thinking: I had to become a researcher.
Ocean mist envelops the Sintra Forest, in Portugal’s Sintra-Cascais Natural Park, near Lisbon.
Alex Trias
This mindset led us to Portugal, a country where we didn’t speak the language, didn’t know anyone, and had no idea what to expect each day. It was disorienting at first. But uncertainty has become our motivation to grow, learn, and build a fulfilling life from scratch.
If you’re putting off retirement because you don’t know what’s next, maybe that’s why it’s worth it. Uncertainty can be your opportunity to travel down roads you never imagined.
2. You can still get ahead financially, even without a salary
When we first retired, my wife and I assumed that we would gradually draw down our savings over time, and hopefully that would continue. But something surprising happened: Our net worth continued to grow.
A major reason is that living in Portugal has drastically reduced our expenses. Here’s what we save annually compared to our old life in Washington:
- $15,000 on state income tax
- $25,000 for health insurance and deductibles
- $14,000 in property taxes
- $20,000 for food, entertainment and daily expenses
All in all, we think we save about $5,000 a month just by living abroad.
We follow the same financial strategy we did while working: live below our means, reinvest the difference and let compounding do the work. The only difference is that now, instead of salaries, our income comes from investments.
Retirement doesn’t have to be the end of wealth building. It may even be the beginning of a more resilient, intentional version of him.
3. Finding purpose in retirement is just as important as finding it in your career
Whether you work or not, most of us want the same thing: to feel like we matter and make a contribution.
A coastal event collides with the rocks of Guincho Beach, located on the Portuguese coast of Estoril.
Alex Trias
When we first retired, we had a built-in sense of purpose as parents of a young child. We joined 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 emptied and we faced the same question as in 2011: What to do with all this time?
Before diving into hobbies or commitments, we made a plan. We have identified six main priorities that give meaning to our lives:
- Building and strengthening friendships
- Personal care and physical health
- Quality time as a couple
- Travel
- Volunteering and giving back
- Learning new skills
Once we set these priorities, it became easier to build a routine that felt fulfilling.
Today, my wife volunteers at our tennis club, takes pottery and Dutch lessons, and plays sports. I am focused on writing, freelance teaching in retirement, and helping a local non-profit organization as a consultant. We host dinner parties, explore new recipes and take short trips around Europe.
With the right mindset, early retirement can be the perfect new starting point. You just have to be willing to embrace it.
Alex Trias is a retired lawyer. He and his wife have lived in Portugal since 2015. He writes about tax planning, investing, early retirement and living abroad at Understeg.
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