Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
The most recent issue of Money Magazine had an interesting article about early retirement. Included was a small sidebar with tips for getting out of the rat race well before traditional retirement age. While there wasn’t anything earth-shattering about these tips, they serve as a good reminder:
1. Live below your means. Keep an eye on both small and large expenditures, live in a low-cost area, send your kids to public instead of private schools, opt for less expensive vacations, etc.
2. Set lofty goals. Saving 10% of your income isn’t enough if you want to retire early. Instead, aim for 20-25%.
3. Be allergic to debt. Carrying debt is not the path to early retirement. Pay it off and then stay debt free (see Step #1).
Even if you don’t manage to retire early (or don’t want to), these are great steps for building wealth.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (693)
- Dish Network Customer Service SUCKS (537)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (330)
- How Much Should You Pay a Babysitter? (291)
- Ethanol Blended Gas = Lower Mileage? (273)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (237)
- Will Mac OS X Lion Kill Quicken 2007? (191)