Thursday, January 6, 2011

Beat the Money Game and Retire Early

You have probably heard the idea that you can beat the game or beat the system and enjoy the fruits of success while you are young. I have some ideas that can help you retire much earlier than at age 59 ½. These ideas will require a lot of initial effort, but I bet they will pan out.

First, the government should allow people to opt out of social security. What if each taxpayer could contribute an extra $100 or more every month towards their Roth IRA? We would be responsible to make good investments. But this idea is far better than the social security generation X and Y will get.

Second, end unemployment insurance. Your employer has to send the government a sizable percentage of your pay to the unemployment department. What if the unemployment plan were eliminated? What if the worker and employer split the money 50/50 and the worker could save and invest the difference? Again, you would be adding at least a few hundred dollars a month to your brokerage account.

Third, allow all citizens to invest in hedge funds and IPO's. Yes, these investments are more risky, but what if your broker or 401(k) administrator found you a great one? It could make all the difference.

Fourth, identify and thoroughly research and study your objective, whether it is a business or career, etc. It doesn't matter what your objective is, just thoroughly research it and make an organized plan for reaching this goal. Read the pertinent rules and regulations and look for any advantages and loopholes. Read books about or talk to the people involved in reaching this goal. This will help you uncover more facts that will help you. If your major business or career objectives lead to serious money, I would suggest serious research and work.

When you know enough of the facts you will have an easier time planning and doing the work involved in getting the money to retire early. You will also find that creative and lateral thinking are easier when you know what you are doing.

Fifth, join a master mind group and multiply your intelligence, your contacts, and mental resources. We don't know everything. This makes good master mind groups valuable. A guide in territory that is new to you is very advisable.

Now you have a few ideas that can help you retire early. To find more ideas for escaping the rat race see http://www.renegadeuniversity.net. Don't reinvent the wheel, visit this site.

Article Source: http://EzineArticles.com/?expert=David_Drews

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