People often get more enjoyment and feel more connected to a book when the content (or even just part of it) relates to their own lives. It simply makes it more meaningful. The connection readers make between a book and their own lives can lead to empathy, deeper understanding, and personal insight — which is enjoyable in itself.

So, when you read this book, you might naturally look for something that applies to your own life. If you haven’t retired yet, that “something” is likely the all-important question: "When can I retire?" or "How much do I need to retire safely?" I’m tackling the first question here, early in the book, and the second one a bit later.

So, when can someone retire? As discussed in the introduction, the answer lies in the motto of my old primary school: "I Want To, I Can." Let me explain.

First, you must want to retire. Some people want to retire as early as possible. Others wait until their employer forces them to, while some never want to retire at all. People like entrepreneurs, farmers, and academics often choose to work as long as possible — maybe for financial reasons, to stay busy, or for some other personal reason. This book is specifically aimed at people who do want to retire — whether that’s still years away, in the near future, or even right now.

But when can you retire? In my view, the answer isn’t tied to a specific age or how much money you have in the bank. I believe that, financially, everyone goes through three life phases that determine when you can retire:

Phase 1: The Building Phase

This is when you’re still building your education, qualifications, career, marriage, and family. You’re probably still young and have lots of expenses. It can be hard to balance your income and spending. Often, your expenses are more than your income, and you have to manage both your fixed (essential) and especially your discretionary (optional) spending carefully.

Unless you’re one of the lucky ones whose employer deducts pension contributions from your salary, you likely aren’t saving much for retirement yet. If you're still in this phase, you definitely can’t retire yet — but you can (and should) work toward entering Phase 2.

Phase 2: The Investment Phase

There’s no set age when this phase starts — it happens gradually. It begins when you manage to live in such a way that your expenses no longer exceed your income. At this point, you can start using the gap between income and expenses — your monthly savings — to invest in your retirement fund.

No, you still can’t retire yet! But you can actively start working to shorten the road to retirement. Elsewhere in the book, I explain what to do (and what to avoid) during this phase and how to progress faster.

Phase 3: The Independence Phase – The Utopia!

This is the phase where you’ve built up enough investments so that the return from those investments can cover your yearly expenses. Now you’re financially independent. Eureka! You no longer need to work, because your money works for you. You can choose to stop working and retire — no matter your age.

• So here’s the simple, practical answer to the question "When can I retire?"
  When you’re financially independent.

• And when are you financially independent?
  When you can earn enough from your own investments to cover all your expenses.
  
  No matter how old you are.