10 Steps to Retiring Young

Retirement is something many people look forward to. The only problem is that most people who want to retire, want to do it much faster than they feel they actually can. Yet, by starting early, and learning a few rules to live by, retiring early is not as far off as you think. Of course, the age of “early” means different things to everyone. Someone may consider early as 40 years old. Others may consider 55 years old as an early retirement.

The first real step to retiring early is defining when you want to retire and what retirement means to you. Once you know those two things you can use the next tips to make those dreams a reality.

1) Know What You Want to Do

Have you ever met anyone who knew exactly what they wanted to do since they were a child? Perhaps this is a bit presumptuous for a younger person, but what you also need to consider is that the earlier you know what you want to do, the faster you can begin earning money for retiring early. Those few years after college or trade school are important years as you begin to establish yourself.

There are also jobs, for example military or government positions, that allow you to collect a full pension after twenty years of service. This means that if you play your cards right, you might have the ability to retire with full benefits by the age of 38 or 40. Of course, you will have to use other tips on this list to retire successfully, but a job like this can put you in a great position.