Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, November 27, 2024
[ 12:20 AM ] - United States, Thomas Matters
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[ 11:40 PM ] - United States, Thomas Matters
[ 11:40 PM ] - United States, Thomas Matters
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[ 02:40 PM ] - United States, Thomas Matters
[ 01:41 PM ] - United States, Thomas Matters
I want to retire early. What steps will get me there in 10 years?
- If you want to retire early, you're following a well-blazed trail of people looking to quit the rat race and live life on their own terms. While it may not be the easiest goal, retiring early is a real possibility, as the acolytes of the FIRE movement
- Financial Independence, Retire Early
- have shown.
The article from AOL Finance outlines several steps for those aspiring to retire early. It emphasizes the importance of starting with a clear financial goal, calculating how much one needs to save based on their desired retirement age and lifestyle. Key strategies include aggressively saving and investing, particularly in tax-advantaged accounts like 401(k)s or IRAs, and reducing expenses through frugality or downsizing. The article also discusses the need for a diversified investment portfolio to balance growth with risk, the potential benefits of side hustles or additional income streams, and the psychological preparation for a long retirement. It highlights the importance of understanding healthcare costs, as these can be significant in early retirement before Medicare eligibility. Lastly, it advises on the flexibility of plans, suggesting that one should be prepared to adjust their strategy as life circumstances change.
Read the Full AOL Article at [ https://www.aol.com/finance/want-retire-early-steps-10-174748823.html ]
Read the Full AOL Article at [ https://www.aol.com/finance/want-retire-early-steps-10-174748823.html ]
