Many of us wish to retire early and enjoy the “Golden Years”. Have you ever wondered how your friend or neighbor was able to quit work at 59 and start traveling? For many, the idea of retirement, never mind early retirement is something simply out of the question. Why, you may ask? The answer is because of our saving and investing habits. Let’s go over some ideas that may be getting the best of you. Leaving money on the table. Most people do not take advantage of the full match. Minimize your taxes. The rich stay rich, in part, be-cause they are smart when it comes to taxes.
Put off Social Security. Wait as long as you can for Social Security and don’t start it to early. Once you start your payments you only have 1 year to change your mind. Make the right choice. Maximize your Income potential. To retire early you need to be smart about your job and look for ways to move ahead financially. Don’t have kids too early. Children are expensive. A huge blessing, but there is no rush to have kids just because you just got married. Don’t keep up with the Jonses. Champagne taste on a beer budget is a disaster in the making. Live within your means.
