How can i retire with little money? - 5 steps towards early retirement

Discussion in 'Featured Posts of The Find Some Money Blog' started by admin, Sep 25, 2015.

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  1. admin

    admin Administrator Staff Member

    Admin Post
    If you’re fed up with life and need a new direction then you’re probably wondering what you could do to retire right now. You might have some money saved and equity in your property which will really help. Retirement is possible if you change the way you think, you don’t really need millions to retire right now.

    All you need to do is to change the way you think about retirement and it could become a possibility. The purpose of this article other than to make money is to offer a quick solution if you want to retire right now. The solution assumes you’ve saved some money and have equity in your property.

    This retirement solution also insists that you have an open mind and are prepared to change. I’ve broken down the solution into five steps and if you can follow these steps and commit to them you could find yourself retired in no time.

    Step 1 – Work out Your Net Worth

    Suppose you were to sell all your assets how much would you be able to rise? I don’t just means stocks and shares and savings account, I mean everything like the home you live in and the car you use to get to and from work. The first step is to work out your net worth to see how much money you can get together quickly.

    Most of the time you can sell all your assets and worldly positions within 6 months and that is the time-frame you should aim for. You should not sell everything at a discount just to get rid of things; you need to get the best possible price for your assets.

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    Step 2 – Safest Rate of Return

    Once you know how much money you’ve got you need to find the safest return for your money. It’s important that you play it safe with retirement capital. This means that the principal never falls and you keep in line with inflation, you should also choose deposits that are insured by the FDIC or FSA.

    In the world today the safest return you can get is interest and the typical rate of return is between 3% and 4%. You need to work out how much money you will get in return every year for your capital. Obviously the more capital you have the more return you’ll get which will give you more choices.

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    Step 3 – Relocate to a Country Where the Cost of Living is the Cheapest

    The cost of living in the USA and UK and other western capitalist countries is astronomical compared to other countries. If you’re living on your own in the USA the cost of living could be anything between $1500 and $3000.

    Suppose you were to move to another country where the cost of living was cheaper you could probably live on $350 to $500 very well. Now suppose you were to move to Nicaragua then the cost of living for a couple in a lavish location would be $995.

    If you were moving on your own then this means you could survive in luxury for $500, now suppose you just want to live well as opposed to lavishly you could easily get away with $350. This means that you need $4200 per year to quit your job and retire. If the interest from your money can cover this then you’re free from having to work.

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    Step 4 – Start Generating Income on the Internet


    Now that you’ve moved you should have a lot of time on your hands. You should try to use this time productively and generate more income streams so you can further improve the quality of your life. The internet has so many opportunities for people who want to make a living online.

    If you can document on a weblog about how you planned and achieved your retirement you will develop a healthy following. The more people that follow you the more money you can make. If you really connect with people and they want to do something similar then you could even sell instructional eBooks to make the process much easier. The opportunities are endless.

    Step 5 – Keep on Increasing Income and Invest

    Now that the cost of your living has fallen you should have substantial money leftover each month if you can develop a healthy stream of income. You should use that money frugally and save as much as you can. You should also invest the money in assets that generate income and then reinvest it into the assets again.

    You should be in a position where your income is increasing every month which in turn is increasing your capital. You should see a rise in net worth which will give you more choices. You could get to a point where you’ve made enough to return to the USA or UK if you wanted to.

    How Can I Retire With Little Money Conclusion

    Retirement is within everyone’s reach if they’re prepared to change and fight for what they want. You can either work all your life to retire when you’re nearing the end of your life, or you could move to a beautiful sunny climate and enjoy the fruits of being free and happy. The reason most people cannot make the move is because they fear what society will think of them, you then have the choice of listening to society who wants to keep you unhappy or listening to yourself and designing your own life as and living it as you please.

    Another reason why people can’t make the move is because they have too much debt, sometimes you’ll find that your net worth is in negative territory which means the solution won’t work at all. In this case you need to pay off all your debts and start saving enough money so you can pursue your dreams and live well. If we all have a vision and plan a mission in life we will achieve our goals and be happy forever.

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    Miles, Quentin and JibberJabber27 like this.
  2. Very inspiring. I would love to move to another country where the cost of living is much cheaper. I've read about the concept of Geo-Arbitrage where you earn money in a stronger currency and spend money with a currency where the purchasing power parity is high, you would get more bang for your buck. My top locations would be Vietnam, India, Thailand, and Indonesia. These places have dirt cheap food, rent and entertainment and excellent education and medical facilities if you can pay for it.
    Miles and Quentin like this.
  3. Quentin

    Quentin Newbie

    I use to think generating money on the internet was impossible and never gave it a second thought. Once I knuckled down and started researching the subject I found it wasn't impossible and as long as your patient and persevere you will make money. If you can offer a valuable service or product which is in demand you could make a decent sum on money. It definitely is possible because people are doing it. I really enjoyed the post.
    Miles likes this.
  4. Quentin

    Quentin Newbie

    I'm all for Geo-Arbitraging however one of my pull factors that stops me is that I don't want to uproot my family. I think its different if your single but when you've got a family sometimes the financial advantages don't outweigh the stress on family members. I do have a desire to relocate one day but it will probably be when the kids have flown the nest and are no longer dependent on me.
    Miles likes this.
  5. Miles

    Miles Newbie

    Step 5 for me is the most important, trying to increase income and investing the surplus so your net worth keeps on rising. I know some people who spend a small amount of time being frugal on the things that matter and then use the lion share of their time to think about ways to increase income. These same people have a saving rate of up to 90% which gets banked and invested. At first the net worth grows slowly but once the compounding begins to take effect everything starts to take off.
  6. Miles

    Miles Newbie

    Its hard to make money on the internet but it is possible. I agree, to make real money you need to offer a superior product or service or excellent information on the web. Rather than thinking about money I think the focus should be how to make someones life easier or better. If you can think of a solution to a problem you'll make decent money. Most people jump right in with the wrong expectations and then retreat with their tail between their legs. Be patient and thoroughly research the market and release your product or service.
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Featured Posts of The Find Some Money Blog How to escape the rat race and design your life - financial freedom and early retirement Sep 29, 2015

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