The retirement age in the U.S. is expected to rise to 67 sooner rather than later. For most folks, that means more early mornings and late nights at the office. But what if there was a proven way to retire early and on your own terms?
Here are some steps you can take, as referenced from The Motley Fool:
Start saving now
It’s never too early to start building your nest egg. But how much exactly should be going in a savings account? Well, if you start saving $600/month at age 25, you’ll have nearly $1.25 million by age 60 (assuming an 8 percent average annual return).
Where young professionals run into trouble is when they hold off putting any money away. For example, let’s say you don’t start saving $600/month until age 35. By the time you reach 60, you’ll have less than half of what you would if you began setting money aside just 10 years prior.
There’s no doubting the power of interest when it comes to wealth building. So if you’re still relatively new to the workforce but don’t want to be stuck working for upwards of 40 years, we recommend kick-starting your savings now.
Saving money is certainly a great first step toward retiring when you want. The next thing, though, is to invest. But we’re not talking about dumping entire accounts into stocks and other traditional means of investing.
The Tactical Wealth Fixed Income Fund fits well for many people, including those preparing for retirement. As we have discussed in previous posts, the stock market is anything but reliable. That’s why we recommend building a more diversified investment portfolio and exploring risk-averse investments.
Rework your retirement expectations
Have you ever envisioned what your “golden years” would be like? For some, they’re all about traveling and taking on a more luxurious lifestyle. However, unless you lucked out big time in the stock market, you probably won’t be able to afford this kind of retirement in the long run.
If you want to leave the workforce ahead of others, then you may need to rethink expectations. There’s absolutely nothing wrong with enjoying the little things such as time with family and affordable hobbies. You should also plan on being more frugal during these years.
The Best Fixed Income Fund
The Tactical Wealth Fixed Income Fund can help you retire early. With our strategic income fund, there’s no need to worry about outrageous investor fees or market crashes. Tactical Wealth allows you to enjoy stable, consistent income and, most importantly, peace of mind when you choose to retire.
Here’s the deal: Our 30-year compounded investment generates an ROI over 426 percent. That amounts to nearly 14 percent annually, which outperforms other high return investments by more than double.
As aforementioned, there are a number of people who can benefit from fixed income. For the best fixed income investments, look no further than Tactical Wealth.