Tips For Retiring Early

Roatan Adventure

Ever thought of retiring early and traveling the world? Of leaving the rat race behind and going on a continuous journey of exploration and discovery?

Two weeks out of the year, you max out one of your credit cards to go on vacation. Only to be sucked right back into the 9 to 5.


So how will you support yourself?

It all about how bad you want it. If you're willing to do something about it, then half the battle is won. Learn to live a self-sustaining lifestyle and you will definitely retire early.

How to Make Retiring Early a Reality

Learn to live frugally
Live simply without the extra stuff that ends up in a garage sale. Learn the art of low cost living and retire on your timeline

Use public transportation whenever possible or walk if you can. You'd be surprised at how much money you can save just by making your own meals instead of eating out.

Mend your clothes instead of rushing out to buy new ones and you'll begin to notice more money in your wallet. Another frugal tip to add more money to your wallet is to plant an edible garden

Get out of debt
Getting yourself out of debt is possible when you begin living frugally. You will notice an increase in cash flow as a result. This is the time to double up on your loan and credit card payments. Retire smart by getting out from under the spiral of debt.

Start Saving for Retirement Now
Once you start paying off your debts, place the extra dollars into savings and have it automatically deducted from your paycheck. It's simple yet hard for so many people. Don't let it be you. The more you sock away, the more choices you'll have. It all depends on how frugal you become.

Reduce Expenses
Keep spending to a minimum. Let it become second nature. You must commit to a change in lifestyle if retiring early is your goal. Do you really need 700 channels? How much does it cost you monthly to maintain this service? How about that gym membership you go to three times a year?

Set up an early retirement plan and watch your retirement date loom closer.

Crescent Beach Waves


Investing For Retirement

Learn everything you can about investing. It is time and money well spent. If you're new to this, stick to low-risk investments like preferred stocks and annuities, along with corporate bonds.

These leave your principal intact while producing income.

To find the best places to invest search for a growing economy and signs of foreign investment. And always rent before buying.


With $300,000 to $500,000 invested, at a safe and realistic yearly rate of 6.75%, you will generate an income of anywhere between $20,250 and $33,750.00.

You probably have most of this already in equity, savings, and investments. And you can definitely live comfortably on this amount, especially when you see how cheap it is to retire overseas

Living Off Savings
Once you've reached your goal of $300,000-$500,000 in savings, you will discover there are many places to retire overseas on a modest budget of $20,000 to $25,000 yearly in places like Ecuador and Malaysia. And live very well. The more you have invested, the more places you can live, for the length of time you choose.

Setup Your Retirement Date
A realistic date for retiring early is one that is attainable. Too early and you will be disappointed when you realize you were unable to save enough. Too far ahead and it will seem unreachable. And you'll give up.

The best time frame for retiring early is between one and five years. This gives you enough time to set a plan in motion and meet your goals. It will also keep you motivated.

Learn to Travel Cheap
Take advantage of affordable travel overseas and use simple strategies to save money.

Health Insurance overseas
You will be surprised to discover the availability of high quality medical care abroad at a much lower rate. Local health care abroad is available at a fraction of the cost in the United States. But if you desire to see the world, your best bet is to carry International Insurance which will cover you wherever you go. Except, of course, to the U.S. This will always be more expensive.

Assisi, Umbria


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Use these steps to achieve your goal of retiring early. Wake up to warm tropical breezes instead of an alarm clock.

Extend your boundaries and savor new shores. By living frugally, reducing expenses, and saving for retirement, you'll be packing your bags in no time.



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~B.C. Forbes

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