“The second best time is today.”
According to Doe, those looking to retire early should start saving as early as their 20s or 30s.
However, she adds, “Don’t despair if you didn’t start saving in your younger years.
Getty Images
It’s also never too late to start saving for retirement.
To that end, Doe takes this formula and builds off of it.
For some people, this would not be enough.
My suggestion is to use the formula to set a baseline.
Want to make it to retirement even sooner?
There are ways to do it, but it means putting in alotof effort.
Doe suggests looking into theF.I.R.E.
stands for Financial Independence Retire Early.
“The basic premise of F.I.R.E.
“With the extra money you have, you invest it into low-fee funds such asindex funds.”
But she has a tactic for that, too.
“If you live in the U.S., consider transferring some of your funds into a Treasury I bond.
“Now, the everyday investor has an opportunity to be a part of this incredible wealth-building opportunity.”
“At the core of it all, most folks wish to retire early because they want financial freedom.
All of these experiences can be achieved without retiring in the traditional sense,” Doe says.
My overall financial advice for 2023 is to practice an abundance mindset.
Folks who practice an abundant mindset will thrive in 2023.”
