![]() ![]() The Biggest Two factors to FIRE are 1) When You Started and 2) How Much You Save. ![]() Realize that the biggest two factors in when you will retire are when you started, and how much you saved. At a minimum, everyone I know who has retired “early” has saved at least 20% of their income, based on personal discussions I’ve had. While traditional advice is to save 15%, that’s simply not going to cut it if you want to get out early. If you’re late to the party, remember that the only day better than yesterday Is Today, so start now. If you missed your chance to start saving early, you’ve severely impacted your odds of an early retirement. Genuine “early” retirement requires the leverage of “Compounding – The Greatest Force In The Universe”. I’m sorry if that’s not what you want to hear, but that’s the way it is. Retiring early takes years of diligence and patience. If you’re waking up as a 50-year-old and just now decided you’d like to retire early, go back to bed. ![]() Commandment #1 – if you want to retire early, you need to start saving money early. Sorry, but you’re going to hear it at least once again. I know, you’ve heard this one a hundred times. You’ve nothing to lose but time ( think on that), so review the list below and see how many you can apply in your own life. If you’re too late to retire “early”, you can still apply these commandments to retire earlier than you’d otherwise be able to. The more of these commandments that you’re able to follow, the earlier you’ll be able to retire. They’ve worked for others, and they’ll work for you. These steps put us in a position to retire earlier than most, and they’ve worked for many other Millionaires Next Door. Age 55 may not be drastically “Early” by the measure of many in the blogging community, but acceptably “Early”, me thinks, when compared to the Population as a whole. They’re built on what worked for us during our 32-year journey toward our early retirement at Age 55 ( soon, very soon). If you’re serious about wanting to retire early, follow these Ten Commandments Of Early Retirement. Are you one of the masses, or one of the few? If you want to retire early, follow these steps. There’s a reason the majority of folks can’t don’t do it. Why? When you get into the numbers, it’s hard to retire early. Ah, the dream of Early Retirement! Almost all of us have that dream at some point in our lives, but few of us actually do it. ![]()
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