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How To Easily Retire Before You’re 30 Without Saving Millions First

Sep 27, 2018 | Blogging, Budgeting | 0 comments

I know, seems like a wild plan, right? 

Retiring by 30 years old without millions.

But, hey!  I don’t wanna work 40-hours a week for 40+ years….do you?

I mean, I think it is complete madness that we live in a society that conditions you to work your entire life so you can retire and finally relax when you’re, like, 80.

Wtf is that?!

Why on earth should we have to wait until we’re 80 years old to feel like we can finally relax?

Life ain’t a competition, it’s a journey.  And I want to enjoy this journey.

So, how the hell do I plan to retire by the time I’m thirty and without saving millions of dollars first?

This post may contain affiliate links.  All opinions are our own.  See disclosure here.
In my books, retiring means that you’ll be financially independent or, in other words, you won’t rely on a traditional job for income.

And, to become financially independent by the time I am thirty, I plan to follow four steps (three of which I have already done).

So what are the steps that’ll have you retiring asap?

Step 1:  Smart Budgeting

Step 2:  Decrease Monthly Expenses

Step 3:  Start A Business (that generates passive income)

Step 4:  Invest Your Money

I am currently in the process of prepping our blogging business to become a stream of passive income and then I’ll begin to invest my earnings to grow my money with no additional work.

Don’t worry if you’re already older than 30.  You’re not SOL and you definitely don’t have to wait till you’re eighty to retire.

But, it is time to get a game plan in place if you plan to retire as soon as you possibly can.

Hopefully, you can take some inspiration from our plan to retire by the time we’re 30 without saving millions first and also be on the fast track to early retirement!

Step 1  //  Smart Budgeting
If you want to retire early, you haaaave to understand your finances.

Without an understanding of your finances, you’ll have no idea exactly how much money you need each month to afford your expenses.

I mean, you may know a rough estimate of what your bills are each month, but do you know exactly how much you spend on gas?  What about food?  Random shit you buy at Target?

If you aren’t tracking this spending, it is unlikely that you know how much money you need each month in order to afford your current lifestyle.

And, like, this is some pretty crucial information to know when you start planning for retirement.

So, to help you get a better understanding of your finances, sign up for our FREE email series, “Budget Boss Guide To Working Less.

Once you start tracking your finances on a regular basis, you’ll be able to pinpoint poor spending habits so you can adjust accordingly and start spending your money smartly.

Then, you’ll want to start decreasing your monthly expenses until you can get them as low as you possibly can.

Cuzzzz retiring is easy when you ain’t got nothing to pay for.

Step 2  //  Decrease Monthly Expenses

Once you’ve started budgeting to get a clear understanding of your finances, you’re gonna wanna start decreasing your monthly expenses by as much as you possibly can.

Why?

Because, as I said, retiring is far easier when you have less to pay for.

For example, if you cut your expenses over time to average only $1,000 per month, the amount of money you have to earn on a yearly basis also decreases.  This means that you can either

a.) work far less (and essentially feel like you’re retired) or

b.) you can save the money you’d need to retire in a far quicker amount of time than, say, if your total monthly expenses were $5,000 per month.

This is a solid step towards your early retirement and is equally beneficial even if you don’t plan to initiate step 3 of our plan (starting a business that creates passive income).

If you’re like 80% of Americans, a major contributor to your monthly expenses may be your credit card debt.

If this is the case, I recently saved over $3,000 + paid my debt off in half the time and I want you to, too; with a personal loan.

GET RID OF YOUR DEBT 

So, you’re not alone.  Most people nowadays have some sort of credit card debt hanging around.

I know I was one of the 80% of people suffering from credit card debt, until recently.

I paid off my credit card debt with a personal loan from PersonalLoans.com and couldn’t be more happy with the results.

By consolidating my debt into a personal loan, I was able to:

  • save over $3,000 in interest
  • pay back my debt in 2 years instead of 5
  • increased by credit score by over 50 points

Debt consolidation with a personal loan is a kick-ass way to quickly pay off your debt while saving a crap ton of money.

PersonalLoans.com is a quick, easy, and 100% online loan company who makes getting a personal loan stress-free.

I highly, highly recommend debt consolidation with a personal loan if you’re serious about cutting your costs so you can save on your monthly expenses.

grab 50+ more simple ideas to cut your monthly expenses in half.

THE BUDGET BOSS EBOOK MAKES MONEY EASY TO UNDERSTAND SO YOU CAN HAVE A STRESS-FREE RELATIONSHIP WITH MONEY IN AS LITTLE AS A MONTH.

Step 3  //  Generate Passive Income
To retire without saving millions of dollars first, you’ll need to generate a stream of income that continues earning you money even when you aren’t actively putting in the work (because, ahem, you’re retired).

This is known as passive income and starting a blog is a fantastic way to generate passive income (and the avenue to early retirement that I recommend most).

In addition to being a sweet way to generate passive income, blogging is also inexpensive to start and has few to no overhead costs.

(And, guys, your earning potential is INSANE.  Some big bloggers earn over $100,00 PER MONTH.)

To generate passive income from your blog, you’ll need to:

  • Start your blog ASAP
  • Create evergreen content and products
  • Automate your sales funnels, email marketing, and social media marketing

You can launch a money-making blog in as little as a week by following our step-by-step guide that you can swipe, here.

Creating content and products that are evergreen means that your creations will continue to stay relevant throughout the years, continuing to generate clicks even years after hitting publish.

And, once your sales funnels, email marketing, and social media marketing are automated, you’ll have the ability to continue earning money without putting in much, if any, work.

Then, as your blog brings in money you can start to invest it and watch it grooow!

Step 4  //  Invest Your Money
Look, I am not gonna sit here an pretend I know all the ins and outs about investing your money.

I am not a financial adviser and you should always, always, always do your own research before committing to something as huge as investing your money.

I do, however, understand that investing your money is the smartest way to watch your hard-earned cash grow.

There are many ways to invest your money, such as:

  • penny stocks
  • hiring a broker
  • CD accounts
  • real estate

And many, many more.

I’ve invested in CD’s in the past and have seen great results, so I plan to continue using this option for investing in the future.

I am also excited to start investing in real estate ASAP cuz who doesn’t wanna pretend like their on an episode of Fixer-Upper?

Investing your money is a key part to your early retirement because it will take the money you’ve already earned and prolong it for you.

Don’t let your hard-earned cash sit in a low-interest savings accounts when you could be watching it grow after investing it.

This is the final step in my 4-step process that I am waiting to complete, so I’ll definitely be updating you guys regularly as I inch towards my goal of retiring by 30!

What is your plan to retire early? Do you plan to use our strategy? Comment below!
Best,
xx Michelle
psssst.  don’t forget to share this awesomeness with your friends!

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