|1.||Know what you're investing for.|
|2.||Make paying yourself a priority.|
|>||Make Your Money Work for You|
|>||Invest Early and Often|
|3.||Make tax-smart investments.|
|4.||Diversify your portfolio.|
It's a lot easier than you think. You don't need to be a financial wizard or spend a lot of time on it you just need to start paying yourself first.
Consider this story about Jim and Pam, who are currently enjoying retirement.Jim had been a factory worker for 30 years, working the second shift. His wife, Pam, had been a stay-at-home mom who raised two children. They lived in an average, working-class neighborhood their whole lives. Yet they retired in their 50s as financially independent millionaires.
Seems hard to believe that on one modest income, raising two kids, they could retire at such a young age with so much wealth. In fact, when you meet them, you'd never guess they were so financially secure. They drive unassuming cars and live in a modest home that's not much different than the average American's.
So how did they do it?They didn't strike it rich in real estate, nor did they receive an inheritance from their parents. They simply learned how to make the most of their money while they were young and took it upon themselves to always pay themselves first. They were quick to realize that later in life, no one was going to pay them in retirement except themselves.
They made a few smart moves, like:
Perhaps more importantly, they:
Jim and Pam didn't need to sacrifice life's little pleasures.
Today, they enjoy the early retirement that they dreamed of. They have nestled into a modest home with plenty of space. They shop around for good deals on flights and visit the kids throughout the year. In retirement, they treat themselves to dining out more. They've also bought a new car, just because they wanted one.
Because Jim and Pam have always watched their money, they can now afford the early and enjoyable retirement they live today.