How Can I Retire Early?

How Can I Retire Early?

How Can I Retire Early?
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42 thoughts on “How Can I Retire Early?

  1. When your 40 your life is no longer youthfull and fun…your best days are behind you…better one fist full of rest then two fists full of labor

  2. Look at that. Life is a competition. People with more resources always have the upper hand. Winners get everything. Losers get absolutely nothing. No wonder why violent people finish first.

  3. Being older now I say plan for retirement and work the plan but dont over obsess about it. Live life in the present moments. Personally I think retiring in the 30's, 40's or even early 50's is too early. Build your career, family and investments during the productive younger prime time years. Time goes by fast and when ready to retire when financially sound and ready to exit the working career one can step into that phase and not regret leaving possible productive career years on the table. OK just my perspective.

  4. The answer to this lady's question is backdoor Roth Ira and you can take out the capital contributions without penalty.

  5. I feel the fastest and safest way to invest/build wealth is by having a diversified investment. if one investment performs poorIy over a certain period, other investments may perform better over that same period, reducing the potential losses of your investment portfolio from concentrating aII your capital under one type of investment., that's what i do investing in for3x nd stocks wit the hlp 0f @lisa_upfx o' . n l'.'g

  6. Invest in Traditional 401k early and often, leaves the option of setting up a Roth conversion ladder to pull money from the 401k penalty free (and even tax free if you meter it with other income sources)

  7. I’m in the same situation. College student and a full time worker. I’m obsessed with the FIRE movement and I do believe I could retire before 45. I would still be doing something productive like Dave said, that is go to my daughters soccer games, manage real estate properties ( that is if I ever have any ), learn a new language or set a goal of running 30 miles every week.

  8. I'm 48 years old with no retirement plan yet, any suggestions on accumulating a million dollar portfolio within 12-18 months? I have currently saved a capital of $325k.

  9. i taught my kids personal finance at a very young age. both 14&16 respectively and are making above $2k passively. if the younger generation can take their mind of the social media, they can learn to make more money and earn freedom.

  10. The thing is if your going to retire early gives you a lot of time to volunteer at your local church or other volunteering. Where if your not feeling it you can just pull back on your volunteering as needed.

  11. Why do people think retirement is sitting on a dock fishing? Retirement only means you no longer are dependent on someone else’s money so you can work or help a friend or take care of your nieces/nephews, etc etc. just gives you options. That’s what retirement is

  12. You simply need monthly cash flow to cover your MONTHLY expenses. Businesses. Dividends, etc. Simple. Hard to execute, but that's about it. Don't be age 60, and realize you only ever had one stream of income.

  13. You should aim to retire by your mid 30s and be retired before age 50. In the future computers will own more jobs than even today so we do not need to think that we will be working into your 60s. Dave Ramsey does not mention geo arbitrage.

  14. Is 20 too early to start thinking about stuff like this? I'm 17 and have been thinking about focusing on becoming financially independent for years

  15. As a CPA, it's clear to me that Dave has no idea what he is talking about on this subject. Non-retirement mutual funds? Mutual funds aren't specific to account type. There is no such thing as a retirement mutual fund or a non-retirement mutual fund. I'm guessing he means to buy a mutual fund in a regular taxable brokerage account. If she retires early, one option is to simply withdrawal contributions (but not the growth) from her Roth IRA at any time. There is no penalty for doing so. Continuing to fund the Roth IRA is superior to this "bridge account" idea because the Roth grows tax free. Secondly, there is Rule 72(t) which allows withdrawals from 401k/IRAs without penalty. The downside to 72(t) is a lack of flexibility.

  16. My plan (all be it, after blowing a TON of money early on) was to substantially reduce our month to month living expenses. We sold houses, cars, motorcycles etc etc. Got rid of ALL credit cards. Went from $8-10,000 per month expenses, to $3,000. Started a business, now 7 years in, and have increased our income, and still living on less than $3000 per month. Now that the business is stabilized, its time to begin stacking as much as we can. Im 47 now….and I can either cry about the terrible financial decisions we made for so many years, or we can look ahead. Im not looking for unrealistic ROIs….or “leveraging” our dollars. We will simply start stacking. Thats all we have at this point

  17. My job allows purchasing up to 3 years of time to be able to retire early. I am able to retire 5/31/2022. I am thinking about purchasing 1 year for $20,000.00. That would change my retirement date to 5/31/2021. I am burnt out with this job and seriously considering doing this. I’m a vested employee and will get my full retirement and insurance. I’m not a big numbers person. I’m consumer debt free and my mortgage balance is less than 50,000. My plan would be to retire on 5/31/2021. And go back to work doing something I enjoy. I think the 20,000 is worth it for my mental health. Any thoughts or things I may not have considered would be helpful. I use to be able to get sound advise on Fatwallet but the website is gone.

  18. I got to know about the benefits of cryptocurrency and forex trading since I started trading with Mr. carlos Kingston i went from $500 to $6,000 within 7days. I should have known his strategies a long time ago, you can find him on Instagram @Carlos_1uptrades to know more about how to profit from forex trade. I’m doing this because this is the same exact way I saw a recommendation and I decided to give him a try now im financially free can vouch his a genuis and the best trader I’ve meet so far.

  19. I can receive a full pension now at age 53 but health insurance is the issue. My insurance has a 7k deductible so it's not great. Wish there was affordable health care. At least it is a comfort knowing that I could retire if I had to. I would like to retire from where I am and then work somewhere else. Many people do this. Does anyone know of affordable health insurance? That is my question, please help and bless you.

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