The Rise of Early Retirement: How to Achieve Financial Independence and Retire Early
Retirement, often considered a thrilling phase in life, can turn traumatic for many. But it doesn't have to be that way. Let me guide you on how to make retirement a highlight rather than a perceived penalty. Firstly, I believe that retirement planning should commence from the very first paycheck. While few achieve this, many get caught up in chasing high returns and fall prey to investment schemes, leading to disappointment and losses. The five years leading to retirement should be approached tactically, practically, and realistically. Here are five steps to help you confidently embrace retirement: Step 1: Plan and Project, Eliminate Debt Start by evaluating your current investment value, including all valuable assets. Deduct your monthly contributions covering debts and assess your potential retirement income if you retired today. Aim to be debt-free before retirement, allocating 50% of your voluntary investments towards debt reduction. Step 2: maximum Wealth Accumulation Strive ...