There are definite methods to accelerate retirement. There are tips, tricks, plans and procedures to engage that can shave loads of time off your retirement age, but you have to understand some rather bleak facts first. You see, what it’s really going to boil down to is discipline; same as always. If you want to enter into a phase of life where you are financially independent, able to live comfortably and never have to report to work again, then it’s going to take some serious effort on your part. Remember that there are so many people who fail to develop a sufficient retirement fund without trying to rush things up.
3 Ways To Accelerate Retirement
- In order to retire faster, you’re going to need to leverage the powers of three key concepts. First, you need to explore ways to increase the amount of income you generate. By having more money to work with, you are able to save more – and not have to live like a pauper in the meantime. You see, when you’re trudging through life, year after year, saving like crazy, fueled by the dreams of beaches and leisure in your retired years, you might get a little blue. You might, after practicing much discipline consistently, find that your mind is crying out for something to enjoy. You need excitement! Making more money can put you on the road to retirement faster. But you know what they say: “All work and no play…”.
- Spending less goes along well with generating more income. So, if you can generate more money, and spend less of it than you currently do, then the acceleration powers are increased exponentially. This happens to be the option that most people choose to exercise in order to speed up the retirement process. That’s true because they are able to do it. You can’t simply say that you’re going to begin generating more income, today. But you can decide to cut back on expenditures and make the money you do generate go further.
- Managing your money better also has a lot to do with your ability to accelerate retirement. Besides ensuring optimal asset allocation, it’s a lot like number 2 above: cutting back. If you mindfully review your financial strategy, then you will see some areas that can be better managed.
Maybe you spend too much money on that prized French wine you love so much. Maybe your wife loves designer clothing. Perhaps it’s time to try a bottle of Sutter Home and have the spouse try on a nice pair of Levis.
The bottom line about accelerating your retirement:
How passionate are you about speeding up your retirement process? Do you want it bad? Bad enough to sacrifice, deeply? Because that’s the only realistic answer. If you are able to innovate ways to generate more money, then you’re definitely on the right path. However, that’s a bit difficult for most because they feel they are already making the best money that they can with their experience, education, drive and opportunities presented.
Accelerating your retirement is going to take consistent, long-term efforts to cut back, make more and manage better. Now, you have to ask yourself how hungry you are for early retirement. Do you have the sacrificial drive necessary to achieve what most others cannot? Just remember not to get so wrapped up in early retirement that you forget to pay attention and love to the things that currently yield meaning in your life. When you look back someday, it may be better to work longer, retire later, and enjoy life much more all along the way.