How can I retire at 55?

Question

I have a 401K and I am fully vested in my place of business, but what else should I be doing to plan for an early retirment. I am currently in my early 30's.

Answer 1

Having a 401K, and being fully vested in your pension plan, isn't necessarily enough - it depends on how much you have in those that matters. If you want to retire comfortably at 55, you'll need to save aggressively, and invest well.

Answer 2

Your too young at that age. If you think you enjoy your job, why do you plan for an early retirement? If you have a business and it is doing well even you are still employed, then you can go on with your business while being emplopyed. If you stil have enough money, you can expand your business or invest in the stock market. If your business is doing fine and needs your full time, then you can retire and focus on your business. Try to weigh your options, which was the best one. Good luck my friend.

Answer 3

This is a great question, but when analysed fully you begin to see the cracks appear in one of the greatest ‘cons’ of all time.

The myth of retirement.

Someone has set up a standard game plan for everyone. It basically goes as follows:
Age 0-5: Baby – Grow Up
Age 6-17: Child – Go to School
Age 18-21: Student – Go to College
Age 22-65: Adult – Work
Age 65+: Senior Citizen – Retire and Die

Why is your question such a great question? Because it challenges the standard plan.

What most people really want to achieve is ‘Financial Independence’. It is not ‘Retirement’.

Retirement usually means that we are no longer dependent on work for our income and daily living needs. Our income is independent from our occupation.

So what you really want is ‘Financial Independence’ much earlier than scheduled for us in the standard game plan. In fact maybe the game plan we really want is more like:
Age 0-5: Baby – Grow Up
Age 6-17: Child – Go to School
Age 18-21: Student – Go to College
Age 22-39: Adult – Work towards Financial Independence
Age 40+: Financially Independent – Enjoy Life

So now that we have a goal of Financial Independence, we need to set a timescale to reach that by and a means of reaching that goal.

In this context we are generally talking about a savings and investment plan that will give us a sufficient amount of money to live off for the rest of our lives.

We will need to equip ourselves with the necessary knowledge and tools to make this work now.

To be successful we will need patience, discipline, and wisdom. But most importantly we need a plan.

It may prove expensive to acquire that much needed wisdom on our own. Learn by other peoples mistakes. Learn from other peoples successes. Read some books. Visit our local book store and find books that we like and feel comfortable with.

Some of the titles I have on my bookshelf include:
One Up on Wall Street by Peter Lynch
How to make money in Stocks by William J. O’Neil (Founder of Investor’s Business Daily)
The Millionaire Next Door by Thomas J Stanley and William D Danco

Check out web sites like fool.com and yahoo finance.
Investigate trading strategies with a proven track record over 3, 5, 10, and 15 years.

Pick something that we understand, find easy to use and will help us realise our goals. Pick a strategy where we can take responsibility for your investments and be in full control of our capital.

Systems like the Stocks Monthly system are definitely worth investigating once we are up to speed with the nuts and bolts of investing.

Answer 4

The secret word of trading success is "organized". You can't be successful without a strategy, a plan and some kind of technological support. I use a software called "autobinary signals" that is helping me a lot. There are plenty of them on the market. I recommend this one because it's very easy to use (you don't have to be an expert or have special skills to make money with it).

Check it out here. It's worth it: http://tradingsignal.toptips.org

Answer 5

In binary options you will have the possibility to predict the movement of various assets such as stocks, currency pairs, commodities and indices. Learn how you can make money trading binary options https://tr.im/lwwcp
An option has only two outcomes (hence the name “binary” options). This is because the value of an asset can only go up or down during a given time frame. Your task will be to predict if the value of an asset with either go up or down during a certain amount of time.

Answer 6

Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/ed075

Answer 7

the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.

Answer 8

put up to $3000 in an ira each year and you claim it on your taxes. It'll help

Answer 9

I recomend you the book the (millonarie automatic)
you will find good ideas in there

Answer 10

Marry a rich man lol :)