By Mikael
Hello there! If you are new here, you might want to subscribe to the RSS feed to make sure you don't miss a thing on RetireRichRoadmap.com! In today’s post I will give you the fourth tip to help you retire at 55 or younger and this tip will not only be able to help you with your retirement but can also make you wealthy if you use it right.
But before we dive into the post I would like to remind you to read or re-read the three previous posts:
Tip #1 – Start Now
Tip #2 – Make More Money
Tip #3 – Drop Excessive Spending
If you didn’t already know then let me quote Tony Robbins:
“Repetition is the mother of skill”
I don’t know if he is the original source of that quote but it’s still good advice
The Difference... Read more
By Mikael
So here we are at the third tip in the series of how you can be able to retire at the age of 55 or sooner. In the previous two tips we talked about the importance of starting NOW and why it is important to start making more money.
Today I want to talk to you about why you should look at where your money is being spent and why you should cut back on the places that are not really necessary.
Now this is not another “frugality post” just like every other floating around the online world. I am not a fan of frugality because I think that teaching people to live below their means is not only stupid but also cruel. Why anyone would encourage people to be any less than they can be is beyond me!
However I do believe that there is a big differen... Read more
By Mikael
This is the second post in the series of tips that can help you retire early or at least at age 55 (which is the age that most people are trying to retire at). If you missed the first post you can find it here: Retire at 55 – Tip #1 – Start NOW.
Now that you know that you need to start doing something I would like to give you an obvious but rarely used idea. Here it is:
Start making more money!
I know this sounds simple and that it makes total sense that you will be able to retire earlier if you make more money because if you make more money you are able to save more for retirement. But despite the fact that this is both simple and obvious most people don’t do it.
The reasons for this are many but bottom line is that they are all exc... Read more
By Mikael
If you read my post yesterday you will know that I will be writing a small series of things that you can do and things that you should be aware of in order to increase your chances of being able to retire early.
There are a lot of points that I am going to share with you but I have found that the best and easiest solution is to put everything into small pieces as it increases the chances of you actually doing some of them.
Now before I start let me just say that I do not have the solutions to everything and that the ideas I am going to share with you are MY views and ideas and if you disagree I will only welcome it. Please let me know why you think differently in the comments below.
Age Is Important
It is probably obvious but if you want ... Read more
By Mikael
A couple of months ago I wrote a little piece about being able to retire at 55 and a lot of people have been coming by that post but not that many have commented on it. I guess one of the reasons is that the post was more of a statement than a question or a solution for early retirement.
As I would really like to help people that are looking for a way out of their job before the age of 65 (or 63 depending on the country you live in), I am planning to do a series of small posts with advice that can help you not only decide if you want to retire earlier than most people but also how you can make it a reality if you put your mind to it (along with some genuine efforts).
But before I go into these concrete steps I would like to look at a few of... Read more
By Mikael
Since this blog is about wanting to retire early and rich I am naturally doing some market research to find out what is driving people to search for ways or solutions to stop working on their job.
Within the last 12 month (if I am not mistaken) Google has grown a lot smarter and are now helping us search based on what other people have searched for. Because of this we can see at what age people want to retire. Not when they are actually going to achieve it but just what they are searching for.
So as you can see from this picture people have goals and wishes of wanting to retire with 5 year intervals (except for the magic number of 21 and the normal retiree age of 62 and 65).
What this tells us is that many young people are full of hope an... Read more
By Mikael
Being able to retire early from your job or from the work that you are currently doing is a dream for a great deal of people. Not having to get up in the morning and not having to go to work for someone else is seen on more and more people’s wish lists.
Even people that are self-employed or own their own company and run it like its president or CEO can have this feeling of wanting to be “free” and not being tied down in a situation where someone or something requires them to do something.
Unfortunately for the majority of people this dream will forever remain a dream and retirement will come when they hit the age where the laws tell them that it is time to retire. In some cases retirement will come earlier than that and especially in ... Read more
By Mikael
To be able to retire early you will need to put yourself in a situation where you will not have to worry about money to pay the bills. Retiring will as a definition mean that you are no longer working a job. In order to still have money coming in you will need to have other sources to work for you.
I see making money as a craft in the same way as it is a craft to be a carpenter or an electrician. In order to be very successful at it you will not only need to study continually but you will also need to practice (and preferably teach) the skill set every day.
What Are You Doing To Learn About Money?
Since you are reading this post (and this blog) I assume you have an interest in making more money for yourself. If that is the case my question ... Read more
By Mikael
As promised a few days ago I wanted to share with you what it is that makes me want to retire as soon as possible and why I believe that becoming rich is a very positive thing and something that everyone should aim for.
But first let me tell you that finding my WHY, the reason for wanting to become rich and being able to quit my job, was not a fast process at all.
The truth is that, like most people that are trying to become rich, I wanted to become rich because of the money. Ever since I was a very young boy I have been fascinated with money and I have worked hard at acquiring them in any way I could think of (legally).
When I was very young I took out the trash and cleaned my room (which equals that I took everything and threw it into the... Read more
By Mikael
Some of you are reading the headline and might be saying to yourself that it can’t be that important to know why you want to retire rich and/or early as long as it happens.
I have to give you that if it was as easy as it sounds then I wouldn’t want to argue with you. Unfortunately it has been proven time and time again that nothing “just happens” and rarely does anything good come from very little effort.
This does however not translate into it being neither hard nor impossible to quit your job and retire in an early age, but if you have no idea why it is that you want that retirement in the first place then odds are that you will not get it.
Why the WHY Cannot Be Negative
As with most things we want in life, being able to say to y... Read more
By Mikael
I came across a great article over at DigeratiLife about the fact that there are a lot of people looking into how they can be able to retire in a cheap place. The reasons for this can be many but I believe that a large part of it is that the latest crash in stock portfolios and house prices have had a drastic impact on a lot of people looking at their retirement.
I’ve personally been looking for places where cheap retirement would be possible but not because I am looking to retire but rather that I want to experience what great lifestyles you can have without making millions of dollars per year. For instance I’ve found that you are able to have a pretty cool lifestyle in the Philippines for about $1,000 – $1,500 per month (you can... Read more
By Mikael
If you are looking forward to the time where you’re going to retire then you might be one of the many people that have been asking themselves how much money they would need to be able to retire early. I’ve found that a lot of people seem to find the age of 55 years old to be a great age to retire which I can only agree with. The sooner you’re able to retire or become financially free the better if you ask me.
But in order to be able to retire at 55 you will need to know if you can afford to retire. You might have your 401k plan in place but for most people that might not be enough to retire on and if that is all you have then things might not be as great as you would want them to be.
So how do you find out if you have enough money to... Read more
By Mikael
I don’t recall ever meeting someone that had a job and didn’t want to be able to retire early from that job. Even people that actually like what they are doing at their job would want the ability to be able to quit or at least not be dependant of the paycheck each month. So what do I see as the key aspects for an early retirement?
1. Start as soon as possible
The best thing to do is start as early as you possibly can. The more time you have to work on it the less effort you will have to put in. Unfortunately too many people are starting out too late and are therefore struggling with making ends meet and often can’t see their way out of the everyday hassle.
2. Find out what you want
You need to be clear about what it is that you actual... Read more
By Mikael
As you might be aware this blog was intentionally created to help people that are looking for ways to retire early and retire rich to do just that. The ways to actually achieve this goal are many and I might even dare to say unlimited but even so there are just as many ways to avoid reaching that goal.
Unfortunately I find that many people are searching for ways on how to retire early because they are looking for ways to retire as fast as possible. They might be sick and tired of their jobs or they might have been in an argument with their boss or similar. Making rapid decisions and looking for quick fix solutions is almost never the best way to go and as far as I am concerned this apply to the early retirement situation as well.
I can full... Read more
Mikael Rieck is the author of more than hundred articles on topics of how to make money both online and offline. He has been online since 1999 and has always had a passion for money making opportunities and teaching others how to make a profit.