Work toward putting away at least 15% to 20% of your gross, before-tax income. Remember, securing the match should be the minimium. Or make a plan to increase your contributions by 1% every 6 months or every year. If they offer a partial match beyond 3%, take advantage of that as well.Įvery time you earn a raise, make sure you bump up your contributions. If your employer offers to match up to 3% of your contributions, you need to contribute at least 3% of your earnings to that account. Then contribute at least enough to your account to secure that match. Not enrolled? Get yourself signed up immediately. That employer match is free money on the table. Any employer-sponsored retirement plan is going to provide one of the easiest ways for you to reach your goal of financial independence. If your employer offers you a 401(k) plan with a company match, take advantage. Get started on the path to financial independence with these three steps to take action on now: Take Full Advantage of Employer-Sponsored Retirement Plans You’ve got to be highly motivated and driven to your goal of financial success.Īnd we can help you with the planning part. So why aren’t more people kicking back on the beach with a fruity umbrella drink at the age of 35 or 40?īecause taking that consistent action and saving 20%, 30%, or more of your income for more than a few years takes good planning and serious dedication. The point is that the math behind the idea of becoming financially independent is really simple. Note the savings chart he shares with readers there – or check out a copy below: It’s appropriately titled, “The Shockingly Simple Math Behind Early Retirement.” Sound too good to be true? Check out this post from early retirement expert Mr. Save and invest what you can, consistently and over time, and you will achive financial independence. Save (and wisely invest) as much as you can. Here’s the great thing about financial success: the keys to achieving it for yourself are based on some pretty simple, easy-to-understand concepts.
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