The vast majority of people in their 20’s and 30’s do not actively think about retirement. Putting a few extra dollars per paycheck into a retirement account will add up over the years. There are limits to how much money can be put into an IRA so growing money elsewhere is imperative. Far too many people make financial decisions that are less than wise whether it is buying an expensive vehicle or flying first class for every flight. Trying to keep up appearances in terms of activities done or countries traveled is only going to delay retirement. Being able to retire when you are still energetic enough and young to travel can allow you to truly embark on numerous trips that you have always envisioned. The following are tips to help you retire early either through wise investing, hard work, or intelligent personal finance strategies.

Credit Card Rewards To Travel

There are going to be costs associated with living as well as professional expenses. Picking a credit card that offers rewards usually comes with a small annual fee that is more than covered with the rewards garnered. Travel credit cards are great for those that want to travel but want their spending to convert into free flights, rental cars, and even hotels. Take a look at various credit cards as many offer an introductory bonus that is usually substantial if a certain amount of money is spent in the first few months. Being able to cover travel expenses via the money you will already be spending is perfect for the budget friendly person with the travel bug.

Freelance Gig To Work From Home

The ability to bring in an extra couple of hundred dollars via a freelance gig from home will add up quickly. For those people that are proficient writers there is a plethora of work available that can pay quite a bit of money. Experts on specific topics can be paid up to $100 for 1000 words which is not difficult for an expert to complete on a related topic. Tasks like that of being a virtual assistant are also available for those people that are organized as well as possess superior communication skills both verbally and written can thrive. Freelance gigs are great to grow as well especially if you lose your job unexpectedly as they allow a person to stay healthy in a financial sense for a period of time.

Investing Wisely In The Markets

Investing in index funds, stocks, bonds, or mutual funds can be very intimidating for a first-time investor. There are some stocks that will offer a return as well as bonds that can allow a person earn from the current money they have. The first thing that you have to do is to set financial goals for your investments. You might find that conservative investments will be more than enough to allow you to hit your goal. Having a few risky stocks should be done to diversify your portfolio and allow for the chance at a huge payoff. If you are very familiar with a particular industry it will be far easier to pick companies that you see succeeding.

All Large Purchases Should Provide A Return

A new car is mentioned above but many people won’t be able to tell the difference between a quality used car. The largest difference is that of the price tag as new cars immediately decrease in value once they leave the dealership. An example of a great investment would be a townhouse in a part of town where rental prices are high but property values are still reasonable. The correct few property investments can allow a person to retire early as they are guaranteed a certain amount in rent per month. Avoid something like getting a boat as marina fees, maintenance, and other costs add up quickly. Unless you plan to take people out on charter fishing trips it is better to rent a boat or join a boat club where you can get your on the water fix.