Crunch some numbers and get ready to work hard by JEAN FOLGER, updated December 19, 2022; reviewed by EBONY HOWARD;
fact checked by YARILET PEREZ A lot of people want to get out of the rat race as soon as possible, whether that means traveling, starting a business, volunteering, or just quitting their jobs.
However, if you intend to work until your full retirement age, retirement planning is already difficult enough. If you want to stop working sooner, for years or even decades, this is even more true.
Is it possible? Absolutely. However, it will require hard work and discipline unless you are independently wealthy, which is rare. Here are five essential actions to take.
IMPORTANT TAKEAWAYS Planning and discipline are required to retire early.
Estimate your monthly expenses and determine how much money you will need to retire first.
You can save and invest more money if you cut costs from your current budget.
Work with a reputable financial advisor to get assistance managing your money before and after retirement.
