5 Examples Of Retirement Plans That Help You Retire Early!Here are 5 examples of retirement plans that let you quit your job at a young age. Unlike alternative retirement plans such as 401ks these early retirement strategies and plans let you retire early and wealthy. The first step to retiring early and wealthy is to create passive income. This is income that you do not have to work for once it is established. Unless you win the lottery one day you will need some sort of passive income in order to quit your day job and live your dream at a young age. So here are the 5 examples of early retirement plans. 1. Buy one Rental Property a Year Buying houses and renting them out is one of the most powerful ways to create wealth and income. For example let us say that you buy a $100,000 house and have a mortgage payment of $690/month then you rent out that same house for $790/month to make $100 off of it each month. In addition to that your wealth is growing because as the house value increases you make money. Anyone who has owned their own house for a few decades knows how powerful appreciation can be. So here is the first of the alternative retirement plans; simply buy 1 rental property a year and that can produce a monthly cash flow of $100 or more. After 20 years you should be making at least $2,000 a month in passive income. This is even a little on the short side considering that after 20 years most of the mortgages will have been paid down creating fewer expenses and more profits. Also as the rent rises year after year this strategy only produces more and more income. 2. Invest Into Stock Market ETFs If you don’t like the idea of taking on extra mortgages you can always invest into stock market ETFs. The SPY, which tracks the market, appreciates at an average rate of 10% a year. If you open up an account of $1,000 and save $500 a month into the plan after 30 years it should be worth $675,473.65 if it holds makes the same return as it has in the past. If the ETF pays off a dividend of 5% annually, that would mean a yearly passive income of $33,773.68. Unlike other retirement plans, this income would only continue to increase after retirement. 3. Trading Stocks If investing into strong ETFs takes too long another strategy would be to learn to trade stocks. While it may take more time to learn and get the hang of, people do it all the time. Trading stock options or taking advantage of other creative strategies can be extremely powerful. If you could make just 20% a year after taxes that would mean the same investment contribution would turn into $1,607,653.45 after 20 years. With that kind of money you would have a lot of options at your disposal. It is just another one of the examples of retirement plans. 4. Starting a Small Business Another one of the alternative retirement plans out there is to start a small business. Out of all of the early retirement strategies out there, this one is the fastest way to wealth. If your goal is to retire and live on some tropical island somewhere in your 20s or 30s then there are some real opportunities here. My idea of a small business is a business that will continue to pay me even when I am not there, something that I just need to build once and receive passive cash flow from the rest of my life. Some examples of this include, network marketing, blogging, affiliate websites, and online stores. Of all the examples of retirement plans out there this is my favorite because the income potential is limitless and the investment is minimal compared to the previous 3. 5. Licensing Licensing is another way which you can retire early and wealthy. The idea is to create something of value that another company will pay you for every time it is used, bought, or listened to. Some examples of this would be writing a book, creating logos, and writing songs. If you can get your stuff out there this could prove to be a valuable income stream and lead to early retirement as well. Return From Examples of Retirement Plans to Make Money Articles |