Only retired at the age of 67 - a horror performance for many. Those who want to get out of the world of work earlier should internalize the following four rules.
Who doesn't play it through now and then in thought: the many things you want to do when you're retired. Finally time for a dog, more time for your favorite hobby and long journeys, provided your health plays a role. But the years that still need to be worked through lie like a big mountain before these dreams. Those who are considering retiring earlier should read the following tips from successful early retirees.
Retire richly and early: These early retirees made it
1. Focus on spending, not income : This is the motto of self-made millionaire Chris Reining, who retired at 37. The news portal Business Insider quoted Reining: "Getting rich and staying rich is mostly a game in which you live with your financial means . If you can, you will enjoy the freedom that the people, who are just rich live, never experience ". According to Reining, anyone who lives rich spends everything they deserve - and saves nothing.
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2. Money creates money : The American JP Livingston retired at 28 - with a fortune of $ 2 million. Her tip: Build up a financial buffer as soon as possible and let it work for you : "Do everything in your power to accumulate the first 10,000, 20,000 or 100,000 euros", "This will create a kind of snowball that you leads to wealth much faster than you can imagine. " Livingston used her saved assets to get a mortgage rate discount as a private customer of the big banks. To do so, she had to buy buy-and-hold shares that earned her a $ 300,000 discount over the life of the loan.
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3. The classic way - earn a lot, save a lot, invest well : At age 52, John (who doesn't want to give his full name) retired with a fortune of $ 3 million. According to the Business Insider portal, he said: " Getting rich is easy - saving you more than you spend for several years ." The good news: "A great legacy or hot stock tips are not necessary".
4. Keep an eye on the wealth objective : "Everyone should have a reasonable wealth objective based on their age, professional experience and income", wrote early retiree Sam Dogen in his blog "Financial Samurai". Goals would help you keep to your own financial plan and motivate yourself to do more when you are behind. According to Dogen, a guide to capital accumulation is essential . You can also attach it to the fridge to keep yourself on track.
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