Early retirement: 3 steps to make it happen

Dreaming of retiring early? Then, read on and find out how you can make this happen.

07:04 27 June 2013

Below are the simple steps that you need to follow so you can retire early and enjoy life sooner.

 

• Research and learn. Most people are financially illiterate. Not that they don’t want to plan for their retirement but they’re clueless on how to get started. If you’re one of them, make it habit to read articles and books about personal finances.

 

• Live within your means. A lot of people spend more than they earn. This explains why there is a huge problem when it comes to credit card debt. You need to learn how to live within your means so you can save as much as possible.

Remember, you don’t need to change your mobile phone, your car, or your house every couple of years. You should be content with what you have otherwise, there’s no way that you can prepare for your retirement.

• Invest wisely. Look for investment vehicles that you can use to grow your money faster. Your options include share dealing, buying and renting out real estate properties, government bonds, etc. The key here is choosing the one that compliment your risk appetite and your investment goal.

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