<p style="text-align: justify;">Whenever the word retirement is mentioned, the image of a gray-haired man or woman in their 60s doing nothing else but stay at home comes to mind. However, young professionals today are getting more attracted to the idea of an early retirement. With new opportunities offered by startups, online businesses, and e-commerce, it is not so impossible anymore to retire at your own terms, without having to depend on anyone else to sustain you once you stop working.</p>
<p style="text-align: justify;">You can choose to decide on when you should retire, but you must learn to start being more responsible as early as now. Of course, you also need to work extra hard to be able to actually enjoy the fruits of your labour. Here are more valuable early retirement tips you could consider:</p>
<h3 style="text-align: justify;"><strong>Plan Ahead</strong></h3>
<p style="text-align: justify;">The only way to achieve results is to build a solid, detailed plan. Time is of the essence. For instance, if you want insurance coverage when you retire, monthly premiums are cheaper at a younger age. Or, if you want to invest or buy something that would support your retirement plans, you have to consider several things such as expenses and return of investment. Do your own calculations and come up with realistic projections.</p>
<p style="text-align: justify;">Your plan should include short-term, medium-term, and long-term goals. For example, you can start visualising how much you want to have in your retirement savings fund when you reach a certain age, and then break it down to the number of years until then. Finally, calculate how much you need to save and assess how much you need to boost your income to meet those goals.</p>
<h3 style="text-align: justify;"><strong>Tweak your Lifestyle</strong></h3>
<p style="text-align: justify;">Many retirees would tell you how crucial it is to spend within your means. If you think this is close to impossible, perhaps you are taking the wrong approach. Budgeting is a good way to get started but to be able to save more, what you need to look at is your lifestyle.</p>
<p style="text-align: justify;">If your goal is to retire comfortably at a younger age, then you must learn to live as simply as possible in the present. This does not immediately mean depriving yourself. You just need to discern on which areas you can cut back on your spending. It also helps to be a smart shopper.</p>
<h3 style="text-align: justify;"><strong>Get a Life Insurance</strong></h3>
<p style="text-align: justify;">A life insurance goes a long way. This part of your grand retirement plan should be set in motion at the earliest possible time because insurance, too, is an investment. Choosing the best life insurance for retirees is crucial, which is why you need to look closely at all offers available and compare insurance plans side by side.</p>
<h3 style="text-align: justify;"><strong>Educate yourself on Finance</strong></h3>
<p style="text-align: justify;">Invest on something that you can use all through your life—financial knowledge. Not only will this equip you to make sound decisions, you can also pass on valuable knowledge to your future children, and</p>
<p style="text-align: justify;">perhaps even your grandchildren. Look for financial seminars or go online and look for advice from gurus like Robert Kiyosaki. You can also join Facebook groups where discussions on retirement planning and investments are held. Getting acquainted with people with the same goal as you will provide you with enough motivation to see your plan through.</p>
<h3 style="text-align: justify;"><strong>Have the Urgency to Start Today</strong></h3>
<p style="text-align: justify;">As discussed, the element of time on finance-related matters is crucial. Once you have a solid plan for retirement, it is best get started right away. Postpone it once and you will find yourself postponing over and over until it’s—heaven forbid—too late. Set aside a part of your saving, or start shopping your insurance immediately this coming payday.</p>
<h3 style="text-align: justify;"><strong>Grow your Assets</strong></h3>
<p style="text-align: justify;">Or at least, start acquiring them. Make use of government or private loans to invest in real estate. You can also make it part of your plan to start your dream business. Interested in stocks, bonds, or mutual funds? Do your research and see how you can take advantage of these investment opportunities. You’ll likely find out that it’s not as complicated as you think. All you need is to give yourself a little push.</p>
<h3 style="text-align: justify;"><strong>Let Money Work for you</strong></h3>
<p style="text-align: justify;">Putting your retirement funds in a savings account earns you interest. Once you save enough, you can consider transferring funds to a time deposit account where you could get higher returns and at the same time, limit your risk of withdrawing from your savings. Find ways to invest your money in such a way that time only works in your favour. As mentioned, mutual funds and insurance are some of the best investment for retirees. They are good options if you’re looking at the long term.</p>
<h3 style="text-align: justify;"><strong>Clear your Debts<br />
</strong></h3>
<p style="text-align: justify;">Nothing ruins financial goals and retirement dreams much more than debt. Prioritise paying off all your debt as you save up for retirement. You also need to have plan on how you can be debt-free. There are plenty of options you can consider such as debt consolidation, balance transfer to to 0% credit cards, and others. Of course, the best way to clear your debts is to avoid incurring more debt—at all costs.</p>
<p style="text-align: justify;">You don’t have to earn a six-figure income, or be born with a silver spoon, to be able to enjoy an early retirement. Anyone can do it, with a good plan, smart decisions, determination, and the awareness that every little step you take today has an impact to your tomorrow.</p>

8 Valuable Financial Words of Wisdom for Early Retirees
