6 Steps to Moving Your Retirement Date Forward

You’ve calculated when you can retire and it just seems like it’s too far off. Here are some ways that you can bring that retirement date forward and retire ahead of schedule.

It’s not going to be easy, but with a little extra hard work you can take years off later and have them be more rewarding and enjoyable because you have more money at your disposal.

Re-Evaluate Your Exit Numbers

The first step is to make sure you have a clear idea of when you can retire and how much money you’ll be able to retire with. Be honest with yourself and really consider how much it will cost to provide the sort of lifestyle you want to have in your golden years. This way you’ll be able to clearly see how your efforts to retire earlier are actually working.

Take Sensible Risks

If you want to retire more quickly, you’ll need to make more money faster, and that generally involves taking more risks. They don’t have to be scary, nest egg-threatening type of risks. You should take calculated risks with a portion of your investment money so that you can experience faster gains and have your money work harder for you.

One of the ways to make more money in a shorter amount time is to become knowledgeable about the stock market. You may have been tempted to trade penny stocks but thought it was too risky to get started. That risk can be lowered with education, and often it’s just a matter of getting to the point where you feel comfortable and in command of what’s happening.

Get Some Fresh Ideas

The definition of insanity has been described as doing the same thing over and over expecting a different result each time. If you have a stale and outdated investment portfolio it’s time to get take advantage of some new investment vehicles. One way to do that is to become a voracious reader of investment books, courses, and blogs.

Books like The 4-Hour Workweek by Tim Ferriss are a great way to shake up the status quo and change your perspective on what it means to retire.

Have a Strong Why

Knowing exactly what you’ll be doing when you retire creates a strong desire in you to retire as soon as possible so you can get to it. If you only have a vague idea of leisurely days spent doing not much at all, you won’t have a strong passion to make changes now to retire early. Really think out how you’ll spend your retirement, what sort of projects you’ll be involved in, and get really excited about it so that you’ll be inspired to put these steps into action and retire sooner.

Get Your Loved Ones On Board

The process goes more smoothly when your significant other is on board. Make sure that you have a common vision of your retirement and work together to shorten the time it takes to retire.

Love What You Do

Another way to retire more quickly is to find something that you love to do and make money from it. That way it won’t seem like work any more and you’ll be able to enjoy your day while at the same time making enough to provide the sort of lifestyle you want to have.