The Early Retirement Blueprint: Building Your Financial Freedom
Nowadays, many of us want to retire early, but everyone can't do so because for this also many things need to be kept in mind. We all think about many things, but everything can't happen. If this happens, then perhaps the balance of the whole world will get disturbed and things will go sideways. I will not say that taking early retirement is a matter of pride, it is possible to do so and many people are doing so and there are many benefits of doing so. Most of the benefits are there, there are very few disadvantages as far as I can understand. See, if you do proper planning and keep doing proper things, then perhaps you can take retirement early, around 40 or after 30. It will not be a big deal to do this, you will just have to do a little planning for this.
There are many things that you need to take care of and one of them is
Investment-
Yes, if you want to take your next retirement, then you must invest because, without investment, your dream will probably remain a dream. If you are thinking that you will retire just by saving in your bank, then it is an impossible thing to do. Investment can take many forms, you can invest it in shares or invest in mutual funds. There are many other ways these days where you can invest. If you want to take risks then you can also come into the world of crypto. Risk is everywhere but in the share market risk becomes a little difficult there. I can understand crypto in time. There is a little more risk compared to the share market. It is not that these are the only ways where you can invest, nowadays there are so many opportunities that it will be possible for you to invest everywhere.
If you are working, then you must keep some percentage of your salary for investment. Yes, even if this amount seems small to you right now, you may not plan to do this but you should start because one day or the other you will have to start. It may be difficult for some time but gradually you get used to it. I believe here that you should invest first and then spend the remaining money. If you are thinking of early retirement, but people do the opposite, they spend first and think of doing it again and this is not a good move. No, I believe that yes, some people are not able to invest or save, they have different compulsions, but I believe that everyone can do it with a small amount.
Passive Income-
Along with the investment, you should also invest in such things which will give you regular passive income like you can invest in such stocks which give dividends from time to time and you reinvest this dividend there again. This means that next time you will get more dividends and gradually your invested money will increase. You can also invest in property for side income. Many people take land and leave it and many people build a house and put it on rent. This is a good source of income from which you can generate regular income. Overall, it is like a one-time investment, you have to invest a lot of money once, and after that small expenses keep coming but you will have a regular source of income, it just depends on whether your property is in a good location. It should be located where the overall population is high because, in a less populated area, there is very little chance that you will be able to generate a regular source of rental income.
There are many things that you can start doing when you are working, then you can make an early retirement plan. Nowadays, many pension schemes are also running, and with very little money, you can get good money in return after a few years. The more you can live, the more you will benefit. You should earn income from multiple things so that you will not be dependent on one thing and if you can do this then it is a very good thing because you will become a little less stressed. If you are dependent on one job and if it is taken away from you for any reason then perhaps your whole world will turn upside down and it is very common for this to happen.
In the end, I would just like to say that if you are thinking of your next retirement, then you should do proper planning, it is not impossible, everything is possible, you just have to always focus on your goal and be consistent in whatever you are doing Will be seen.
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Translated via Google Translator, The content is original.
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Thanks & Regards
@bhattg
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I have gone through your post.
It is quite interesting.
Yes, we should do proper planning if we want to retire early.
The sentence of the post is "We should invest first from our income and then spend on expenses.
Brilliant post dear.
Keep writing.
Thank you so much for your lovely comment and inspiration. I gald you find out something informative from my post. Have a great day and week ahead.
Just automate your Investment into index funds and wait :p
Thanks for the advice going to start investment into it (not all though )😁 ✌️🙏. Its good to see your comment 😁✌️
Well. I am up 10% over the last year in my stock portefolie :p
And I am getting up to 653 USD in Dividends alone this year ;)
Wow that is cool , let's see how things will go for me
It is and its all automated, so I don't have to do anything xD
That is good i have invested In a few mutual funds.the returns are more than 10 % approx I will try to start investing in index funds thanks again. I hope you are having a wonderful day 😊
Mutual Funds!? Why!?
Are the actively managered? Because thats going to cost you a lot of money in Fees :o
What 😦 I have no idea about it. Still if I have to invest in index funds then I have to invest via mutual funds I guess. There a few companies who have there mutual funds in index 50 somthing like that. Are there other ways to invest in index funds. Am I missing something.
For early retirement there is only one way really and that is if you become financially secure quickly but for that to happen you need luck to go your way perhaps.
It seems that, for now, the only way I can save and invest is by blogging on Hive!
My income all goes to my expenses and is actually not enough!
Hive seems to be a really great platform to earn , save and invest. I do took out some money to invest in real life this is really good Indeed. If you don't want to cash out hbd savings is the best option. Try to increase your source of incomes that is gonna help a lot. Not gonna easy at start but it can be done.
I think what you say in your post is good about not relying on one source is good. So once this source is substantial, I can look at diversity.
Considering my country situation I think retiring from 30/35 nearly impossible because most of the cases students start to earn after the age of 25. So start to save little money and invest little by little from the student life is wise but in that case a little investment is possible as there can get little money unless they earn some from online.
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Perfectly said. You mentioned something that if you want early retirement, you must certainly be ready to make early investments. Everyone wants early retirement but only few is paying the price in that direction.
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