Retirement Plan: Many people plan to take retirement at the age of 40. But can’t implement it. If you go according to the plan mentioned, then you can lead a fun life by taking retirement soon.
Fire Early Retirement: Many people nowadays do not want to work for life. After the Kovid epidemic, people’s thinking has changed even more. Nowadays a new trend is being seen. In which people are thinking about working hard in the first 15 to 20 years, earning more money and retiring early and doing their own new job. But, saving money while working is not a child’s play. There are many such expenses of the family. Due to which people are not able to save properly even if they want. A new trend is that people are getting bored with 10 to 5 jobs. Many people want to take early retirement. But if you make a good financial plan while working, then this dream of yours can also come true. Plan in this way while working.
Make strategy like this
1. The first thing is that you save 50-70% of your monthly income. If you save this much then your current expenses may get affected. Which you can compensate for by doing part time work, salary increase, side business or job change.
2. Your monthly expenses can be reduced. As you can save money by buying second hand vehicles, your expenditure can be reduced by using public transport. Do not use credit card for unnecessary expenses. You can save a lot of money by planning in this way. You can also earn by investing in FDs, dividend paying stocks.
3. The third task is very important which is related to investment. For this, you have to invest in such a place, where you can get maximum returns. Because the savings account earns very little interest.
Invest in the right place
People often think too late about investing. Due to which people also face many problems. The sooner you invest in getting a job, the better. In fire movement, people have to invest money in such a place from where they can get good returns. In developed countries like the US, people use low-cost index funds or exchange-traded funds. In India too many such index funds and ETFs are getting bigger. You can get good returns by using these funds smartly.
