#1: Reddit Early Retirement
If you’re someone who dreams about quitting work soon because you’ve saved enough, then you’re already in the right track. The only thing is that you have to convert your dreams into reality. So, how do you do that? Can you afford to quit work soon?
Are you ready to sacrifice a bit now, so that you can live a king’s life later on? Well, the questions may sound daunting, but the truth is that it isn’t as hard as you think. Don’t worry too much and just focus on your future plans.
Most people are now trying to find different sources to get their retirement income. In fact, you will find many people giving you some personal advice and financial advice too. Treat Reddit Personal Finance as the same and see where that takes you.
Earlier, it was easy to plan things for the future, but with inflation and so many other factors thrown in, planning your finance is harder now. Interest rates are low and many experts say that this phase could continue for several decades.
Therefore, you need to find a solution for that. First off, you can begin by saving a bit more than you’re actually saving now. Stop spending on unnecessary things and your children will thank you when you pay for their education later.
Remember that a little goes a long way. The golden rule is to save at least 15-20% of your earnings to ensure that you lead a comfortable life later when you’re about 60 or 70. This isn’t hard, but it definitely needs some careful planning.