How to Retire Early: The Step-by-Step Guide to Financial Independence

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Jan 16, 2025

What would you do with a million-dollar check? It's all about preparation for financial independence. Discover the seven essential steps to early retirement, such as calculating your true retirement number and understanding freedom accounts. Learn how to generate income streams that work for you and protect your wealth from market downturns. Explore the differences between real estate and stock investments, and how to manage fees for better returns. Finally, find purpose and fulfillment after retirement to ensure a vibrant life.

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ADVICE

Calculate Retirement Needs

Calculate your retirement needs based on your desired lifestyle.
Divide your yearly retirement expenses by 4% and 7% to determine the investment range needed.

INSIGHT

Retirement vs. Freedom Account

Traditional retirement accounts focus on long-term savings for retirement age.
Freedom accounts aim to generate income earlier, allowing for financial independence sooner.

ANECDOTE

Jaspreet's Investment Journey

Jaspreet Singh started investing in real estate at 19, leading to cash flow and increased property values.
He diversified into dividend-paying stocks and funds to further boost cash flow for financial freedom.

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