9 Steps to Early Retirement

3) Learn frugality

Retiring early is a difficult hill to climb, although not impossible. What many early retirees find is that learning how to live frugally early will get you much farther, much faster. Not only will frugal living allow you to put more money aside as you are building your wealth, but your spending habits will cross over into retirement allowing for your money to last longer in retirement.

Simple habits such as cooking your own meals, making your coffee at home and walking or riding your bike instead of driving a car will save you thousands of dollars every year. These shouldn’t necessarily stop when you retire either, as these habits will go a long way to making that retirement money last.