18 Moves That Will Help You Retire Early And In Style

18 Moves That Will Help You Retire Early And In Style Do you daydream about retiring as you plod through your 9-to-5 job? Are you wondering how a neighbor or relative managed to quit working at age 59 and go traveling? For many people, retirement — never mind “early” retirement — seems out of reach. But with focus and self-discipline, you can amass enough money to retire earlier than you might think possible — and to do it with style. Here are some tips to get you started: 1. Spend less than you earn The formula for retiring early and stylishly starts with actually saving money. If you have zero savings right now, build an emergency fund and keep it in a savings account that pays you well. 2. Start saving early Thanks to the power of compounding interest, a little money saved now can go a long way at retirement time. But to get the most benefit, start saving as early as possible. Let’s say you’re 20 years old and can manage to put away $100 a month into your retirement fund. Assuming you average 8 percent returns — possible with good investments — you’ll have somewhere in the neighborhood of a half-million dollars by age 65. Even better, over that 45-year period, you’ll only have invested $54,000 of your money to get all that cash in return. If you wait until you’re 40 to start saving $100 a month, you’ll put in $30,000 of your money and — at that same rate of return — build a nest egg worth around $90,000 by age 65. Not bad, but wouldn’t you rather have a half-million? 3. Don’t leave money on the table If someone tried to hand you $100, would you say no? That’s what you’re doing when you fail to take advantage of a 401(k) employer match. The company is basically giving you money, with the only hitch being that you must pony up some of your own cash for the retirement fund too. You won’t get rich by passing up golden opportunities like this for extra cash. If your employer offers a 401(k) match, make sure you are taking full advantage of it. 4. Minimize your taxes The rich stay wealthy in part because they’re savvy enough not to let Uncle Sam take too much of their money. When you’re investing your retirement money, use tax-sheltered accounts such as IRAs and 401(k)s whenever possible. In addition, be smart about which type of tax-sheltered account you use. Traditional retirement accounts enable you to invest pre-tax money and then pay the piper once you make withdrawals in retirement. Meanwhile, Roth accounts allow you to invest money after it’s taxed — and therefore not pay taxes on withdrawals. [READ MORE.....]( [View this email in your browser]( You are receiving this email because of your relationship with . Please [reconfirm]( your interest in receiving emails from us. If you do not wish to receive any more emails, you can [unsubscribe here](. 2672 Jarvis Street Buffalo, NY 14222 [Unsubscribe]( ?p=500289