Wealth Creation always involve detailed planning and a firm commitment to a call in action. Here are Ten Tips for Retiring Early.
Tip 1:
Start early. Set aside a small sum each day of your salary or allowance as savings. Use a portion of that to invest.
Tip 2:
Set a realistic and achieveable goal - for example: save $100 a month for a year. It is easy to procrastinate.
Tip 3:
Save early, spend prudently. Away with credit card bills. And if you don't need a car, don't buy it. Invest what you have, wisely.
Tip 4:
Do smart investment and also have a "rainy day fund".
Tip 5:
As much as possible, use CPF as much as possible and build that up.
Tip 6:
Create multiple sources of income. Examples are: Rents, fixed deposits, stock dividends..
Tip 7:
Paste alot of notes regarding your Retirement Plans all around the house and stick to it.
Tip 8:
Build an investment portfolio. Work towards financial freedom.
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