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Want To Retire Early? Here’s What It Takes
By plrprousers | May 29, 2009
Remember those dreams about early retirement? It can be easy to daydream another dreary 9-5 day with thoughts of sunny golf courses, exotic and undiscovered locations to travel to and more free time than you know what to do with. Of course, most people brush off the thoughts of an early retirement as just fantasy, especially given the current market conditions – but is it actually a possibility? Can you actually position yourself for an earlier retirement age?
Giving that retirement speech at forty or fifty isn’t just a luxury for the mega-rich – in fact, many early retirees are ordinary people with average 9-5 jobs. So what key traits separated them from the rest of the pack? Read on to find out – and see if you have a few of these important traits yourself:
You Hate Debt. Debt is one of the most toxic drains on your financial resources – and all of that money that’s spent on your credit card bills could instead have been put towards your 401(k) retirement fund or your savings and investments. If you’ve got a knack for keeping yourself out of debt, then you’re already well-positioned for an early and comfortable retirement.
On the other hand, if you have more debt than you know what to do with, the chances for an early retirement are highly diminished. Get some smart advice on how to tackle your debts without dipping into your retirement savings to get your financial health back on track.
Time Is Your Greatest Asset. It can be hard to realize the investing power of small amounts of money; but if you take the proverb “a penny saved is a penny earned” to heart, then you know that time can turn that penny into significant dollars. Early retirement means putting away as much as possible and letting the power of time (and a smart investment advisor) turn your dollars into a comfortable retirement.
You Don’t Keep Up With The Joneses. It’s impossible to save for an early retirement if you’re too busy competing with your neighbors; hence, if you avoid determining who has the most well-manicured lawn or expensive car, you can put that money towards your savings and investments where it belongs!
For more information on smart retirement planning, visit www.kenhimmler.com, the IRA and 401(k) experts!
Authored by Kenneth Himmler, Sr.
Tags:401k retirement,investment advisor,retirement,retirement age,retirement planning,retirement speech,savings and investmentsRelated posts
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