Everyone wants to retire early. With a realistic goal and game plan, you might not be as far from your goal as you think. Saving up to retire early will not be easy, but in the end, the time and discipline you showed will be well worth it.
1) Know Your Finances – Sum Your Cash and Assets
Regardless if you want to retire when you are 40 years old, 55 or 75 years old, you need to evaluate your current income and assets. You might have nothing to your name, and that is completely fine. You might have a dazzling nest egg and that’s great. The important thing about retiring early is knowing how much money you need to retire, and how much more money it will take you to get there.
Knowing your finances is the foundation for starting your investment and savings strategy. It is also how you determine if you are heading in the right direction, or if you need to shift your gears toward a better paying job or career, or if you need to start looking for ways to improve your income where you are currently working.