You need to live within your means – 8 Tips to help.

Here are 8 tips that will help you retire when you choose rather than when you hit the retirement age.

You don't have to retire of course, but it makes a huge difference if you get to choose rather than have to keep working.

I remember overhearing a conversation being held between a school teacher and some support staff.  The teacher, who was approaching 65, said that he had been to see his financial consultant about retiring only to be told that he couldn't retire for at least another 5 years and then only if he followed the instructions he was given.

Apparently he had no savings and $40,000 in credit card debt.

At that time I was debt free but had little savings having concentrated on clearing my mortgage.  I was 41.

retirebyforty wrote:

The first step to financial independence is to live within your means. It’s simple. You have to spend less than you make so you can save and invest the difference. I followed this directive as soon as I became an engineer and started making a good income. Before that, I was a student with minimal income and high expenses. I couldn’t save anything no matter how frugal I was. Once I became an engineer, I continue to live modestly and started investing right away. That’s really the prerequisite. You need to make some money first. Luckily, most adults are already there. The unemployment rate is at a historic low. If you want a job, you probably can find it.


Is this in your plans?

You can do this you know, all it takes is the determination to doing what needs to be done.

Clear your debts, save and invest.

None of this is hard nor is it impossible for you or anyone else.

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