Thursday, September 01, 2005

9 Steps to an Early Retirement

You Can Get Closer to Your Retirement Dream...
Starting Right Now.

Source: Automatic Wealth by Michael Masterson

If you fall for the Million-Dollar Lie and convince yourself that you can save yourself into a comfortable retiremant, you will wake up one day feeling like you can't stand to work another day - but will wake up one day feeling like you can't stand to work another day - but when you look at your retirement account, you'll realize you will probly have to keep working for the rest of your life.

If you take my advise seriously, face the future realisticly, develop wealth-building habits, get your income up there, and begin to develop equity, you will be able to retire in 7 to 15 years - and that will be early, believe me, compared to most of the rest of the retirement age population.

But since even seven years may seem too long to wait, I suggest the following nine-point strategy for getting close to retirement much sooner.

  1. Start a side business as soon as possible.
  2. Buy at least one rental property.
  3. Consider buying a second home in a tropical paradise.
  4. Relocate to a retiremant location early.
  5. Don't work when you are not working.
  6. Care about what you do.
  7. Interrupt your schedule with regular mini-vacations
  8. Live rich now.
  9. Be proud of yourself.
These are you first goals: Earn more than you spend and have more than you owe. When you have achieved those goals, you will have taken the most important step toward turning yourself into an automatic wealth builder.