MadAbout
Money
ONCE YOU KNOW HOW YOU WANT YOUR LIFE TO BE AND HAVE
INITIATED EFFORTS EARLY, NOTHING WILL STOP YOU. YOUR
DETERMINATION AND HARD WORK WILL HELP ENJOY YOUR LIFE AT 40.
H
ere are few ideas of
planning in the right
direction to become
rich and retire by 40:-
OPEN ALL
DOORS OF
OPPORTUNITIES.
While you are young and
eager to rule the world,
work towards finding
ways to earn that extra
buck. Apart from a regular
job, you can find more
means to earn – through
your hobbies, extra
shifts, so on and so forth.
No matter which path
you choose, with hard
work and dedication it is
possible to grow income
over time. Choose ‘simple
living, but high thinking’
approach in your early
20’s. Determine ways
to inflate your savings,
which will result in rapid
growth in wealth. One
can also choose the
path of entrepreneurship
instead of being slaves
for the corporates. If
you have the business
acumen, invest in creating
a business out of your
skills, and at building it
up. If you are determined
and good at what you do,
you’ll be a millionaire in
no time.
MULTIPLY YOUR
MONEY
Once you’ve earned good
enough, start investing.
Learn the tricks, speak
to wealthy people who
invest wisely, and use
these learnings to grow
your money. Your late 30’s
is the right time when you
want to put most of your
money to work. One of the
most efficient ways to earn
more money over time is
to invest it. Invest in real
estate, mutual funds, in
stock markets if you know
the tricks, etc. There are
plenty of options and also
good advisors to help you
with choosing the right
investment choices.
By the time you reached
you mid 30’s, you have
earned enough and
experienced enough
to start planning for
your retirement. Your
investments should be
part of your plan. What
you have invested in
today, will reap results
in retirement age. So be
wise and calculative. And
above all be fixed towards
your goal.Avoid taking
loans or being in debt for a
longer time. Keep a close
track of your expenses.
The habits you learn in
your 20s will stick with you
throughout your life. It is
the right age to earn more,
learn to budget and save
up for retirement.
PLAN YOUR
FREEDOM – LIFE @ 40
It is OK to set a date
when you will go slow.
By the time you have
reached 40, you have
saved enough to bid
goodbye to working like
a slave. It’s also good to
plan in advance. Make
a retirement budget,
meaning you need to
sit down and figure out
what your income and
expenses will look like
for your new life. It will
depend on what lifestyle
you choose.
You should also keep
in mind to maintain at
least about one year of
expenses in cash before
calling it quits. The cash
cushion gives you a sense
of security, and it can
be used for unforeseen
emergencies as well.
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