Self-made millionaire Grant Sabatier retired early at 30 with a nest egg of $1.25 million using a seven-step strategy. It could work for you.
. With the use of affiliate commissions and online advertisements, a good portion of these earnings were passive income. She spent less than five hours a week blogging.Retiring early doesn't mean you'll stop making money. How one retired millennial made more than $60,000 in passive income last year."When you invest money, your money makes money and you don't need to trade much, if any, of your own time," Sabatier writes.
He advises separating your short- and long-term investing goals and setting a baseline number to invest in each account over each period, then determine your target asset allocation, or the percentage of each asset in your investment accounts. You should also evaluate investment fees, he says, because they"can have an enormous impact on how quickly your money grows, how much money you'll have within a given time frame, and how many years it will take you to reach your number."
He also emphasized maxing out your tax-advantaged accounts and opening a taxable account with any money left over. Personal Finance Insider offers tools and calculators to help you make smart decisions with your money. We do not give investment advice or encourage you to buy or sell stocks or other financial products. What you decide to do with your money is up to you. If you take action based on one of the recommendations listed in the calculator, we get a small share of the revenue from our commerce partners.
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