Asked 4w ago
If I want to retire early how do I start planning for this? What are the best ways to FIRE?
I started planning when I got my first job, since I knew I didn't want to work till 65.
I started by saving every cent I could and giving tuition on the side while trying to figure things out. That was more than a decade ago and there wasn't really too much information out there, plus I was trying to increase my salary rapidly to maximize earning potential.
Over time I sort of figured out a game plan for myself and starting executing things in a concrete way, such as making my first investments and such. It's been many years now but I am starting to see some results with my portfolio.
What do you mean by 'social sense' though?
I started serious financial planning for retirement when I joined the financial services industry (which is also my first job).
While the planning may be insufficient to reach my intended goal, I'm glad to have started early to let the compounding effect do most of the hard work for me.
Personally, I feel that this is the responsible way to do so (planning for my own retirement), as I won't want to depend on social welfare or my kids in the future.
How about you?
Here is everything about me and what I do best.
Started planning for retirement only after my wedding as my expenses have settled down and I'm able to properly plan by funds and investments. As my commitment rises (family, house etc), even more important to plan my retirement properly.
From a financial standpoint, I consider the time when I started investing in my mid-20s to be the start of my planning for retirement as I will only tap on most of the funds when I retire. I don’t really have a concrete plan of what I will do when I’m retired but I’ll probably have a clearer idea when I’m in my golden years.
I started the idea of retirement when we plan to have our kid. I wish to spend more time with her especially during her teenager time, hence that triggered me to start to have a serious planning on our retirement