7 Best And Simple Strategies For Early Retirement

“I’m never going to be able to retire.”

Have you ever mumbled this to yourself?

If you have, you’re not alone.

Over 1/3 of all Americans don’t believe they’ll have enough money to live off of in.


With all the pessimistic view on, then how in the blue blazes are there outliers that are able to buck the trend and retire in their 30’s?

While they may be on the extreme side of retiring early there’s a lot to be learned from them.

So yes, even if you are one of pessimistic souls that believes that you can’t retire early, here are 7 simple early retirement strategies you can implement today.

1. Know Your “Numbers”

Your “numbers” are the amount of money that you will need live on in retirement. There are two of them,

  1. The annual amount of income you will need to live on in retirement, and
  2. The size of the retirement portfolio that will be needed to generate that income.You have to start with the income number, since that will determine how large your investment portfolio needs to be.

Calculating your needed retirement income

The conventional wisdom is that you should plan to be able to retire on an income that is 80% of your pre-retirement income. That’s not bad since it will keep it simple, but you may want use that as a starting point only.

Depending on what your plans are for your life in retirement, the actual number could be higher or lower. For example, if you expect that health insurance will be more expensive than it is now, you’ll have to make an upward adjustment. If you expect that your housing will be lower, due to either downsizing to a less expensive home or paying off your mortgage, you can make a downward adjustment.

Once you have your income number figured, you can then calculate the size of the investment portfolio that will be necessary to produce that income.

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