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Alexis T.
@alexis_tt19
How to retire early
A good early retirement strategy is built on maximizing three aspects: Income, expenses, and savings.
To build your early retirement strategy, you need to determine your retire early or financial independence (FI) number. It is the amount of money you need for work to become optional. Be aware that the number will (and should) change as you change, and your desired lifestyle evolves.
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Elizabeth V.
@elizabethvv67
Retirement Planning and importance of Retirement Plans
Early Mistakes, Late Start & Future Hurdles.
Savings and investments should be part of a monthly budget even when young or just starting a career.
You cannot save enough if you are waiting until your late 30's before...
Myth vs. Reality in Retirement Planning
- I’m not that old: It’s not about NOW but saving for your old days when you can no longer work full time.
- I’ll wait for a lump sum is just an excuse to postpone planning or procrastinate.
- Assumed Family/External Support: It’s better to be prepared for eventualities and have contingency funds in hand.
- Financial Requirements Decrease: Medical costs increase with age. Inflation and other factors might also come into play.
- I will not live that long or I won’t retire: People tend to live longer, but they will suffer from medical ailments.
Retirement Goals
To have a secure and financially independent retired life during your golden years with regular post retirement income, a corpus of savings/investments and a safe shelter or home.
Angela
@ang_10
Ten Moves That Will Skyrocket Your Net Worth
Education and wealth
College degrees can add significant wealth. The more education you have, the more you’ll earn and the less likely you are to be unemployed. And if you can keep debt low while getting th...
Controlling expenses and wealth
You’ve probably heard that time is your greatest investing asset. It’s true. The more investments earn and grow on their own, the greater they become.
Investment value is also greatly impacte...
You’ve probably heard that time is your greatest investing asset. It’s true. The more investments earn and grow on their own, the greater they become.
Investment value is also greatly impacted by the amount invested.
Summer S.
@summers338
Financial Independence
Financial independence implies not having to worry about money anymore, but rather focus on what you want to do, in your free time and your passions.
However, being financi...
Become financial independent
In order to attain financial independence, consider some of the below steps:
- invest your money into different projects, stocks. activities: diversification is sometimes the safest key to success
- do your research thoroughly before investing your money anywhere, to avoid unpleasant surprises
- increase your income by finding side hustle or getting engaged in new projects
- manage your income by cutting down unnecessary expenses
- invest in real estate: rent or resell properties.
Attain financial independence earlier than later
In order to feel less stressed about your expenses, start doing the research on how to achieve financial independence now.
It will save you a lot of frustration that might emerge due to work while also making you feel more satisfied with your own life.
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