"I think there is beauty in everything. What 'normal' people perceive as ugly, I can usually see something of beauty in it."—Alexander McQueen

"I think there is beauty in everything. What 'normal' people perceive as ugly, I can usually see something of beauty in it."—Alexander McQueen

Retirement

Early Retirement: Making It Real and Possible

Many people tend to believe that retirement is only for old individuals — or for the rich. After all, careers make people busy. Attending to one’s family requires time and devotion. On top of all these, there are other sources of stress and anxiety that will make you think that early retirement is next to impossible. But in reality, early retirement can be possible.

You need to remember, however, that the road towards it is not going to be easy. You need to have an unyielding will to make money, save, and sacrifice your certain indulgences for a while.

The first thing that you should do is to define early retirement in your own terms. This may mean that you will be retiring at the age of 40. Others may define this as leaving their career once they hit 50. Regardless, it will be all up to you. If you are looking for some pieces of wisdom that will help you achieve this goal, read on. 

Check your finances

You cannot just retire early without having a solid plan. And planning starts with checking your inventory of finances. Have a good picture of your debts; you will want to get rid of them before you go into retirement. After that, start calculating your net worth, which covers checking all your assets. When you have an idea of your finances, it will be much easier for you to plan your retirement.

Do not overspend

When you are heading towards retirement, you need to adjust your lifestyle. This explicitly means that you should not spend money on unnecessary items. Live within your means. Remember, you are accumulating as much money as you can. Your priority at this point is to reduce the number of debts that you have. Of course, it is still okay to splurge and reward yourself once in a while, but be responsible. 

Start investing

When people think of retirement, some immediately think that it is all about saving up money. Well, that is part of it. But if you just save, the money that you collect over the years will have a much lower value. So, early on, you should be investing already. You need to grow your money, and that is what you can do by investing in financial instruments and assets, such as stocks and bonds. You can ask your financial planner in Utah on how you can increase your earning potential.

Find a post-career "career"

If you retire early, chances are that your mind and body will look for something to be busy about. At this point, you may still work on things that you care about while making money. For one, if you love baking, you can start a small business.

Retiring early does not mean that you will never do any work after leaving your previous career. You need to understand that there will be some work involved, but at this point, you will be doing it in your terms or at a much more relaxed pace. 

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