by William Bond

Created on: July 15, 2010

Yes, you can retire early, and do the things you always wanted to do, and enjoy your life to the hilt.  You could start that book you always wanted to write, you could move to the warm, serene, sunny climate you dreamed about all these years, you could plan golf and tennis twice a week or everyday of week, and be able to attend to all those hobbies you have, and fully enjoy them. Here are some ideas and skills which used regularly, will help you to reach a successful retirement, and an early one as well. 

Plan a early retirement, and reach it.

Many people want to retire early, but somehow they get busy living their lives, they just expect it to happen, without having a realistic, specific plan of action to attain their early retirement dream.  Answer the following question: How will you fund your early retirement?  Will you double up on the normal amount of contributions into your 40l(k) plan? Can you fund  this higher than normal contribution for your retirement, and still be able to pay for your current living expenses?  Set up a plan so you can do the necessary savings so that early retirement can become a reality for you. Consider other sources or revenue to build your early retirement nest egg.

Consider a second job.

You can retire earlier when you add the income of the second job to your retirement savings.  What part-time jobs are available in your field?  What are rates of pay for your work?  Will the second job be worthwhile for you, and give you enough extra income to make the time and effort worthwhile?  Consider starting your own business as well.

Use your expert skills in starting and running your own business.

Many  people that want to retire early, begin a home-based business, using their education, experience, skills in a specific area, such as: writing software, personal finance consultant, life coach, investment advisor, insurance consultant, real estate adviser, or something else which you  feel, you know well enough to help others and reap the revenue.  A successful business can be started on a part-time basis, and once you build it up, you can continue it, or sell it when you decide to begin your retirement.  Selling your knowledge to others is a great business, with upside potential.  Monitor your retirement investments regularly.

Early retirement means making the investments work.

Monitor

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