How to Retire Early, Yes, You Can Really Retire Early

hey this is jeff rose goodfinancialcents.com today I want to answer a common question that I always get how do I retire early how do I actually quit my job and hit retirement early and is it possible can I really do it first let me say yes it is possible but it can be difficult especially if you don’t have the right mindset today I want to share four easy steps how you can actually hit retirement early so here we go number one you have to have a plan you have to have a plan there is no way that you can retire early if you don’t have a plan you have to have a savings plan you have to have a budgeting plan you have to have some type of investment plan if you don’t have some idea of what you’re doing or how you’re actually gonna hit retirement early there’s no way that you can do it once met with a young couple to have this vision of retiring at the earth at the age of 50 and it was a very ambitious goal and I was excited for them but the reality is that they had no savings whatsoever and they’re almost in their mid-30s there is no way they had no plan so there is no way that they’re gonna be retire early number two you have to spend less and I know you don’t want to hear that I know that’s the last thing that you want to hear but if you need to have more for investments more for savings you’re gonna have to find a way to cut back a little bit and I’m not talking about cutting back on everything I’m just saying you have to look at your budget look at your spending habits and see where you can take a little bit here and there and put that towards an investment plan the third thing you must do is save and invest so by spending less you need to redirect that into some type of investments that are going to make you some good return over the next 10 20 and 30 years by saving investing that’s how you’ll be able to accumulate the wealth that will give you the power to truly retire early and the last thing this tip is for the people that don’t like to spend less or they didn’t like that tip and I’ll be quite frank with you that applies to me as well I am NOT a frugal person I’m not the type of guy that likes to spend less I like to spend I like my toys I like to eat out I like these things so how can I retire early by not having the frugal habits like maybe I should but I don’t know the way that you do it is you make more you make more money it’s the only way that you can offset by spending more so you’ve got to make more so how you do that that’s in your career in your job you need to work harder be dedicated that company and advance look for opportunity to take on a higher position take on more responsibilities to get a higher salary if you don’t have that in your job you need to find a part-time job maybe some type of passion of yours that you can turn into a side business a slight income so that way you can offset any of the raises that you might not get your job you can do that with your side income or if you have the cojones to take it to the next level it’s become a truly self-employed individual become a business owner by becoming a business owner now you’re in charge of your income you’re in charge of the amount of wealth that you can accumulate and this is what has allowed me to explore other business opportunities because I don’t just have one business I have probably five or six different business opportunities that I’m looking at right now to where that can bring me other sources of income as you can see retiring early is not impossible I promise you it’s not I’ve seen tons of people that can do it and you could do it too you just have to have the discipline and the desire to find what works best for you if you’ve got more questions this is jeff rose goodfinancialcents.com