Many people believe that to retire early, you need to earn crores and save a lot of money. But, even if you don't make crores today, it is still possible to retire early and with a lot of money. If you take proactive measures now, it may be possible to retire early and live happily. Here is how!

How to retire early even if you are not a billionaire

It is a common misconception that you have to earn crores and save a lot of money to retire early. However, it is untrue. Even if you don't make crores today, you can retire early and with a lot of money. Taking some proactive measures today will make a big difference. 

You can retire early regardless of your financial situation by doing the following:

  • Know your retirement goals - You cannot think of retirement unless you know what you need to achieve. Identifying all your retirement goals is the first step you need to take. You should list all the financial goals you need to accomplish between today and post your retirement. Break your goals into short, mid, and long-term goals. Next, you will have to figure out how much money you need to accomplish each goal. Accordingly, you will have to start your preparation for early retirement.
  • Automate, Automate, Automate - When it comes to investment, most people spend all the time trying to know the best strategy. The best strategy is to automate your investments. For example, if you can invest Rs 10,000 per month, the best you can do is to make sure the amount gets deducted automatically and invested at different places for different goals. It will bring discipline to your investment and also free you up for other important things.
  • Lower your living expenses - If you want to retire early, you have to make certain adjustments today. Start by lowering your expenses, so you can save more. The more you can invest today, the compounding will have more time to do its magic.
  • Increase your income - Don't only focus on reducing your expenses, the idea is to save more. Therefore, you should also focus on increasing your earnings. You can plan to switch your job for a higher salary or start freelancing work that brings in additional income. There are a lot of ways to do it - all you need is a little determination.
  • Pay Off debt - You must remember that you cannot retire till you have debts. Your focus should be on finishing off your debt as early as possible. If you have existing debt, your priority should be to pay it off - lower your expenses and earn more to pay off your debt.

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  • Your retirement account - You must have a separate retirement account where you save for your retirement. The amount you are putting in this account should not be touched for any other goals.

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  • Start a business - Early retirement does not mean that you will stop working at all. It means you will work on what you enjoy doing in life. The best way is to start a business with what you love doing. Lay the foundation now and work on it with whatever time you can until you near your retirement age.
  • Stay healthy - You want to retire early to enjoy the second inning. You can only do that if you stay healthy. So focus on your health all the time - eat nutritious food and exercise daily to stay fit.


More importantly, make the right investments to retire early as planned. Starting early is the key as it helps you make changes mid-way should the need arise. Early retirement is not as tough as most people think. You now have a guide to make it a reality.