Three tips to help you retire early

Julie Brownlee, Fsp Invest, 29 Apr. 2014

Tags: retire early, early retirement, early retirement tips, how to retire early, nest egg, bond, budget, retire early tips

Many of us dream about early retirement. It’s just a case of getting enough money together to finance the lifestyle you want up until the end. And possibly leave some to any dependents you may have. The good news is there are some things you can do that are actually very simple, but can do wonders to boost your retirement pot. Let’s take a look at three of them…

Did you miss out on Francois Joubert’s secret to retiring rich?

If you couldn't make it to Francois Joubert's R10,000 Retirement workshop on the 15th of March, where he explained just how EASY it is to retire rich thanks to the powerful profit potential of penny shares…

Not to worry!

We filmed the whole event – Just for you! Every speech, every idea and every recommendation was recorded.

So now you have the chance to put Francois' "R10,000 Retirement" blueprint to work for your own portfolio.

All you have to do is claim your R10 000 Retirement Workshop DVD here.

Early retirement tip #1: Draw up a budget and stick to it

To achieve your dream to retire early get budgeting.

Set up a spreadsheet. You want to include all of your outgoings. You need to make everything as exact as possible. Also make provisions for stuff you might not think about like holidays and car repairs. And have an emergency fund too.

Then track everything single cent you spend and make sure that you never exceed your budget amount. You can then put your leftover income straight to work for your retirement.

Early retirement tip #2: Overpay your bond

This is one of the best tips to help you retire early, Phil Oakley in Money Week explains. Once you pay off your bond, you effectively live rent-free. And this means you need less money to live on.

By putting in an extra thousand or two into your bond a month, you can literally shave years off the term of the bond. And think of all the interest you’ll save.

In 10 years’ time, when you’re living your dream retirement, you’ll be glad you read this.

Early retirement tip #3: Look after your nest egg

Once you have your nest egg and retire, it’s crucial you make sure it will last as long as you need it. Having a part-time job can be a good idea to subsidise your income and give you an interest.

Something like a 4% annual withdrawal rate is probably a safe amount.

So there you have it, two tips to help you retire early.

Related QA

cecil.mthi asked:
I ordered the crypto currency book that included the package of becoming a member of the investmentor's club. I have my last R1,000 which I want [read more]
Published at 02 Nov. 2017 in: Retirement Investing in crypto currency 1 Answer
nononkie.molefe asked:
Hi, please help me, my husband is about to retire he works at Prasa and his retirement money is R1 618 000. His financial advisor [read more]
Published at 19 Jun. 2017 in: Retirement Retirement 1 Answer
chrissan asked:
HI ,Thank you for this oppertunity and your help in this regard I am a member at FSP and need assistants how to continue by Investing.Thank You Chris [read more]
Published at 09 May. 2017 in: Retirement 1 Answer
exypeyti asked:
Good day Timon, what do think of the book start poor retire rich, by Joshua Benton i had read a preview of it and what they describe is exactly my [read more]
Published at 02 May. 2017 in: Retirement Retirement 1 Answer
hi,in your stock of the month,blue print 1,you advise an ra using 4 funds,who can provide the investment platform for all four funds,as you indicated [read more]
Published at 21 Jun. 2016 in: Retirement Annuity 1 Answer




Youtube Twitter Facebook

Connect with us:    

  • Accelerated Investor
  • Accessories
  • Accountancy
  • Accountancy services