Tips To Living A Simple Life!
Ready For Retirement?
This should be simple so do not over complicate things. What is the minimum you can live on? Assuming you pay off all debt. Can you live on 30k a year? That is 2,500 a month.


Are you ready to retire? Do you have a Retirement goal or plan?



This should be simple so do not over complicate things. What is the minimum you can live on? Assuming you pay off all debt. Can you live on 30k a year? That is 2,500 a month. Or will it take double that at 60K a year? That would obviously be 5,000 a month. Once you figure that out you need to know where you plan to receive that income. Do not count on Social security. Think about how much yield a year you will need. If you are thinking stock market dividends 3% a year on 1 million will get you the 30k a year mark. So will 10% on 300k. Usually stocks that pay 10% are risky. You can find ETF's that pay 3% or stocks like Abbvie inc. that pay close to 5%. Stocks like Verizon are close to 4% or a utility sector like XLU pay 3.8% and VYM is 4. You can find 10% yield but feel comfortable with what you own. Most stocks that pay 10% are risky and the chart will show that. 
 
Of course, you can have other sources of income like rental properties, businesses etc. Pay off all debt as soon as possible and figure out what you need to live the lifestyle you want. Work on building up your source of income for retirement. A lot of people could retire a lot sooner if they did not create such an expensive lifestyle. Do not spend your time building debt, instead spend it building some type of investment that will yield you enough for retirement. Great reason to own your home as well instead of renting. If you are renting that will be a part of your budget that you will always have to pay. Buy a house and pay it off. The most you will have to worry about is taking care of it. Do not lease a car, buy one pay it off and take care of it. The quicker you own the things that you will need and be debt free the more you can put towards what you need to retire. 
 
Also do not forget to look outside of the country you reside in. You can live comfortably for a couple thousand dollars a month on some genuinely nice beaches. Places like Costa Rica are good options. Regardless of you need to figure out how you would like to retire, where you would like to retire, and what you will need to retire. Then start making your money work for you and stop working for it. 


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