Ask Dennis Farrah: 3 Retirement Strategies
I'm approaching retirement and I'm curious about how some other people make retirement work? Do you have any unique retirement strategies?
1.) DISCIPLINED SAVING AND INVESTING
One way to build a sizable nest egg is to practice disciplined investing. Consider how mush you will need for your investment portfolio to create an income stream that you can live off of.
2.) CULTIVATE MULTIPLE INCOME STREAMS
Another idea for early retirement planning is to begin cultivating multiple income streams, rather then relying solely on your ability to build up a massive nest egg to get you to retirement. Instead, make a plan to pay down your debt including your mortgage by your early retirement target date.
3.) TAKE MINI RETIREMENTS
Recently, the idea of mini retirement has become somewhat popular. If you want to enjoy life now and are not concerned about having a huge chunk of time to try and kill when you are older, you can plan to take a mini retirement living in a different place for one to six months. You do have to be willing to quit a job and try to find a new one.
Do you have other questions about retirement, or are you curious to see how some of these ideas might work for you? Call Dennis Farrah today!