Even with rising costs and longer life expectancy, it is still possible to leave the rat race early and live comfortably. It does, however, take some careful long-term planning. Here are 20 tips that will help you get on track to retire at 50.
1. Hire a Financial Planner
It's really never too early to start planning ahead. Here are 12 costly mistakes that can ruin your retirement.
2. Cut Your Spending
Plus, make your nest egg go even further with the top 20 best places to retire in Canada.
3. Start Saving Early
And, if you're dreaming of living the good life after retirement, check out these 20 cheap and stylish global retirement spots.
4. Have a Savings Goal
You may also like: 15 retirement tax tips that'll save your nest egg.
5. Automate Your Savings
6. Save Windfalls
These are the most important things to keep in mind if you want to retire early.
7. Maximize Your Savings
Earn more as you go with this list of 20 ways to earn money while you're sleeping.
8. Buy With the Long Term in Mind
9. Cut Services You Don’t Use
Some employers offer great discounts, so make sure you utilize all the perks your company offers. Check out the 30 best companies to work for in Canada.
10. Pay Off Your Debts
In fact, paying off debt is just one of 20 ways you can retire with less money.
11. Avoid Going Into More Debt
With just a few simple lifestyle tweaks, you can easily save $1000 a month.
12. Find a Better Paying Job
These are the highest paying in-demand jobs in Canada right now.