Even with the nature of our society, retiring early is possible and achievable (especially if this has always been your lifelong goal), you only need to be willing to make some sacrifices. Jumia Travel, the leading online travel agency, shares 4 things to do if you want early retirement.

Avoid Spending Mindlessly

The most important step in controlling your finances enough to make early retirement possible, is to track your spending. You have to know what you’re spending on and if it’s necessary for you to spend that much on it, or even spend on it at all. Know how you spend, determine necessary expenses and focus your efforts on reducing or eliminating negligible or unnecessary expenses.


Stop Lifestyle Inflation

Try to avoid living at the maximum standard your income allows. Find a middle point and contently build your life around that, while you save and wisely invest the rest to further increase your earnings. If your income increases, try not to over boost your spending and put a reasonable portion of the extra money into savings. You can also apply this strategy to other surplus money like bonuses, and other small windfalls. This will benefit you far more than buying the latest gadgets and travelling to the most exotic locations all the time.


Go Home-Made

Opt for home-made food, as opposed to eating out all the time. If you’re skeptical about just how financially beneficial this strategy is, give it a shot for a month and see the results. You can even save some more money if you know how to negotiate well for groceries and food stuffs at the market. In addition to the financial benefits of going home-made, there’s also the health benefit of eating fresher and healthier meals.


Stop Trying to Please or One-Up Your Friends

This is one of the biggest money wasters and the greatest enemy to early financial independence. Keeping up with the Joneses and trying to live up to your friend’s standard can end up not only robbing you of a chance at early financial independence, but it can also mess you up financially. Avoid going out all the time, spending in places you never intended to spend in, and spending lavishly on things that you could care less about because of so-called friends. Stick with friends with the same financial mindset as yours, who will contribute positively to your goal of achieving early financial freedom. You’ll be better off for it.


http://www.metronaija.com/2017/06/things-to-do-if-you-want-to-retire-early.html

cc: lalasticlala mynd44

I concur

All these oyinbo thread sef; This can't work in recession abeg

If you want to retire early...

Slap your boss.

Marry and give birth early. School fees no be beans

1.set a time or year target for yourselves. You can I want to spend just 5 or 10 years in the service.

2. You save at least 40 to 50% of your earnings.
3.think of a profitable business and do your findings.
4.let your yearly leave be towards establishing your business
5.pray to God
6.marry a good and understanding wife
8.stop show off
9. Thank me
10 add yours

Like If You Knw All These :-/

I see

Good

in Nigeria? anyway I refused to disagree...

Mind your business.

You also need to create a business that will carter for your retirement expenses instead of relying on pension

This is only theoretical, it's not practical in our society

marry early.

Nice tips

Equiano:
This is only theoretical, it's not practical in our society

The guy just dey break grammar. When you are surrounded by poverty. Does he know how much many people spend assisting relatives and friends in dire need?

Grammar

anselm791:
marry early.

Make i hear

ademega:
1.set a time or year target for yourselves. You can I want to spend just 5 or 10 years in the service.

2. You save at least 40 to 50% of your earnings.
3.think of a profitable business and do your findings.
4.let your yearly leave be towards establishing your business
5.pray to God
6.marry a good and understanding wife
8.stop show off
9. Thank me
10 add yours

Said it all.
Setting up of your own business is key.
Do you know agricultural business "snailery" is less stressful/capital intensive?
Lets show you the secret

ok

know d difference between liabilities and asset. it helps.

Op I concur with this. Thanks for opening my anya

I wan retire quick and join politics at a very young age