I don’t see any point in waiting until 65 or 70 to retire. You really don’t have to wait that long.
I retired at 36 with all the money I could ever need. If it wasn’t for feeling restless and wanting to help other people, I’d still be retired. But here I am handing you my first-hand experience so you can drop out of the rat-race for good.
The best piece of advice for an early retirement is all contained in this 1-2-3 step guideline…
Step 1 – What’s the plan?
Everybody needs a game plan. It might even start out to be a rough draft that takes different shapes throughout your short journey to retirement, but it needs to be there.
This plan should consist of things like your deadline for retirement, how much money you’ll need, how you plan on spending this money, etc.
When you’re devising your plan, it’s vital that you envision every step of your luxurious retirement. Picturing yourself at that finish line is the perfect motivational tool.
Step 2 – Re-shuffle
Assess your current finances. Are your earnings heavily outweighing your spending?
Most people let what they spend rule what they’re able to save and invest. The way to stop this is by using a special trick.
Only buy the things that you absolutely need, and after you buy something, let it sit in your closet for 24 hours. If you can go 24 hours without it, return it.
Clearly you don’t need that item, and that money that you spent could be invested into your future.
After you’ve reached retirement through various investments, you can buy all the unnecessary things you want.
Step 3 – Retire
This step is quite obviously the most important.
It might sound stupid, but the biggest thing hindering people from retiring early is the actual leap into retirement.
Society has shaped us to believe that we need to wait until we’re 65-70 in order to retire. Just because you get government benefits at that age, it doesn’t mean you have to wait that long.
Your investments should allow you to float off into retirement whenever you feel ready. Like I said, I was 36 when I first retired, and it was all because I took that leap.
Using this 1-2-3 step guideline will provide you with that early retirement. All your friends will be slaving away until they’re 70 while you’re sitting on the beach, living your fantasy.