Tuesday, September 22, 2009

Early Retirement – Is It Feasible?

Most people dream of an early retirement, especially while they’re at work! But is retiring early an actual possibility? Whether you can afford to retire early depends largely on your definition of retirement. If you envision retirement as spending your days soaking up the sun in a tropical paradise with nothing to do but read and enjoy drinks with little umbrellas, early retirement is extremely unlikely. If your idea of retirement living, however, is freedom from the daily grind of going to a job and having the flexibility to pursue other interests, then your answer to the early retirement question may well be a definite yes!

In the introduction to Ask Suze … about Planning for Your Future, financial expert and best selling author Suze Orman states, “And I am here to tell you that you can find the money to secure your future from what you have.” Regardless of where you are now financially, retirement is possible through proper planning and the effective implementation of your plan. The question is how long will it take? Whether an early retirement is in your future is based on numerous variables, many of which are totally within your control. Regardless of the age at which you retire, achieving a comfortable retirement is up to you.

Over the next few weeks, I’ll be posting specific tips to help your attain your dream of retiring early. Topics covered will include:
  • Assess Your Situation
  • Minimize Expenses and Responsibilities
  • Become an Expert on Frugality
  • Cultivate Friendships with Likeminded People
  • Pursue Retirement-friendly Interests and Hobbies
  • Develop Income Streams
  • Create a Back-up Plan
At the end of this series of posts on early retirement, you will have the information necessary to develop an action plan that can be used to help you turn your retirement dreams into reality!

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