Kikelomo Adeniyi

Investment: How to Retire Early and Retire Well Someone once said, "The best time to plant a tree was thirty years ago, and the second best time to plant a tree is now." Retirement is one-word people often associate with being old, but that is not necessarily true. Is it? Lets explore the word a bit. What is retirement? One definition of "retirement"according to the dictionary is "the act of permanently leaving one's career or employment." Its easy to feel your only choice is to retire at a ripe old age, and I dont blame you because that word is most often used to refer only to old people, but nowhere is it expressly stated that that must be the case. These days, many youths are increasingly engaging in financial education, and as they do, you increasingly hear them say, "I want to retire early and I want to retire well." Now, those are two different things. You can retire early, say, in your late 30s or early 40s, but do you have enough financial resources to keep you from dusting off your CV again in search of a job? This is not to say that if you are in your 50s or 60s, its too late for you. It is not. Remember the adage we started with? Start now!  Here are six tips Ive hidden under my belt to help me retire when and how I want to, and I've decided to share them with you. 1. Read financial books: People read books to learn how to speak, write, bake, etc. I wonder why they dont think they need to learn how to make, spend, and invest money properly. If you havent read at least one financial book this year, what have you been doing with your time? Making money is one thing, but spending it wisely is another, and these are two skills you need if you plan to retire well. Many of the tips Ill be sharing I learned from a book. Dont be one of those who would never find a secret if it was written inside a book. Read! Additionally, read financial books to learn how, where, and when to invest. 2. Start saving today:  Now that youve understood that reading financial books is a must to grow your nest egg, the next step is to start. Start today to put a percentage of your earnings aside; as much as you can. The sooner you start, the larger your nest will be. Remember, procrastination is a thief of time, so if you must, automate this aspect with the help of your bank so that whenever you get paid, a certain amount automatically gets deducted and sent to your savings account. 3. Invest:  Dont just let the money youve saved sit idly in the bank. Look for suitable investments that suit your risk level and invest. Research properly the opportunities out there and choose one that would yield good benefits, which you can re-invest in to keep your portfolio growing and your money working for you. 4. Make a budget: First, make a budget and try to stick to it as much as possible. Secondly, track your spending for a month. Youll be surprised by the things you spend money on that you never knew you did. Then, cut off all unnecessary items and reduce your spending in areas where you can. Whatever cash you raked in, pour into your investment. 5. Dont get too excited about extra funds: Got a huge bonus or a raise? Dont increase your living expenses. Discipline yourself to spend as youve done previously for at least 6 months. Youll find that you can still comfortably live as youve always done, and you can divert the extra money into investing. And if you do need to increase your expenses for whatever reason, it wont be because of the craze the extra money has put you in. Cool right? 6. Set a goal: Set a target amount of money to save or invest and work toward it. Youll find that as you achieve each goal, it makes you happy and excited enough to push towards achieving the next. In summary, set your mindset to retiring early, and if not early, make conscious decisions that would help you achieve this. To do this, you cant be ignorant of basic financial knowledge, and the only way to get this knowledge is to get yourself educated. There are numerous ways to acquire the necessary knowledge ranging from books, to online classes, free courses, the list is endless, so start building your tree.