Would you like to retire as fast as possible? Me too. Here's a piece from the Motley Fool that gives some tips on how to retire quickly. The key points:
Brainstorm and come up with as many ways as you can to cut at least $100 in expenses over the next year.
Now, put the money to work. "Index plus a few" is a strategy that involves keeping most of your portfolio in an index fund. But if you have the time and skill (or the help) and want to add a little juice to your returns, you can set aside 5% to 10% for individual stocks.
Then, they offer some money saving ideas for where you can find the $4,000 every year:
Capture your next pay raise or bonus check and sock it away in the savings account. A 4% raise on a $50,000 salary will net you about $1,600 after taxes. That's a great start.
Eat out just one less time per month. If that saves you $50, that will turn into $600 by the end of the year.
Scan your recurring monthly bills to see what is sucking you dry for little in return.
Add up the moola you shell out for lunch.
My thoughts:
1. I like the concept of saving for retirement, but I'm not sure this plan is that revolutionary (or that it will allow you to retire as fast as possible). These links may be a bit more (or at least as much) helpful:
- A No-Brainer Way to Save for Retirement
- 3 Rules for a Happy Retirement
- It Pays to Ignore Your IRA
- A Retirement Portfolio with Staying Power
2. I prefer index investing, though I do have some other funds and stocks, so maybe I'm an "index plus a few" investor. For more on investing, see these links:
- Getting Rich is Simpler than You Think
- How Average Joes Can Retire Rich
- 13 Unconventional Investments
- Fund Indexers, Take (Another) Bow
- Part-Time Investing
- 4 Habits of Successful Investors
- Expenses, Taxes and Size Matter in Choosing Bond Funds (And Stocks too!)
- Where the Pros Stash Their Own Dough
- Stress-Free Investing in Four Easy Steps
- Almost Infinite Investment Return
- Do You Have Enough Time to Invest Like You Want To?
- How to Retire Rich: Use the Power of Compounding
- The Case for Indexing
- Investment Advice from Someone Who Manages Billions
3. Not bad money saving tips -- they are pretty basic. If you want a bigger/better list, see my complete listing of money saving tips.
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