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10 Signs You Will Be Able To Retire At An Early Age

10 Signs You Will Be Able To Retire At An Early Age

For many people, the dream of an early retirement seems far fetched. Worries about how you will live, what will you do, and what others will think can obscure the reality that is right in front of you. But early retirement may be more viable than you think. Take, for example, the story of Brenton Hayden who made himself a goal to retire by age 27 and succeeded. By strategically building a business that could run itself when he was ready to walk away, he did the seemingly impossible and now lives a life of complete freedom.

So we have compiled 10 signs you could be capable of the same.

Being able to identify the 10 signs that you can retire early can be the first and most important step to setting your own course. As you read the list, you may be pleasantly surprised at how many of these elements apply to you right now.

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1. You Believe That Opportunities Exist Everywhere

Hayden’s belief that he could find the positive in any situation and turn it to his benefit is what allowed him to become self-sufficient and able to meet his goal of retiring at 27. Opportunities can be all around us, we just have to look to see them.

2. You Feel That Your Daily Life Is No Longer Fulfilling

Sometimes being productive or successful in a position still leaves a spiritual and emotional void. When you reach this point, the best cure is often to walk away and follow that “road less traveled” to reawaken that desire to build something new – perhaps even in a new location.

3. You Want To Share The Skills You’ve Learned

When you’ve mastered a skill or trade, the greatest satisfaction is often gained by sharing that knowledge with others. Not only is this a great way to “pay it forward,” but it also empowers those around you and enables them to carry on with what you’ve taught them, freeing you up to focus on the things that will help you achieve your early retirement goal.

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4. You Aren’t Afraid Of Risk

The old saying, “no risk, no reward” is particularly important in knowing if you are ready to retire. Walking away from the relative security of a known existence (i.e. job, daily routine, etc.) to step into an uncertain future is a profound choice. Yet if you feel that the only thing worse is to remain stagnant, then the time may be right to make that move.

5. You Want to Control Your Destiny

Recognizing that being able to dictate how and where you spend your time is truly life affirming and can be a major step in the retirement process. If you find yourself wanting to take control of your own future and live life according to your own terms, then you may just have what it takes. The key is having the courage to take the first step.

6. You Don’t Believe In The Traditional Definition Of Retirement

Retirement no longer means just sitting around the house, playing golf or tennis, and watching the time go by. Believing that retirement today can mean working (or not) when you want, traveling when you want, and not being held to someone’s else’s agenda is a major indicator that you are ready to retire on your terms.

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7. You Believe That Retirement Isn’t The End, But Instead A New Beginning

Being freed from the yoke of job deadlines, a daily routine and demands on your time marks that start of a whole new existence. You can now work hard (or not) and play hard. It is up to you how to take this next chapter in your life and make it your own.

8. You Accept That Money Is Not The End-All And Be-All

Monetary status is like the weather; it can change without warning. By embracing the fact that you can live cheaply for now – if need be – in order to achieve your goal of early retirement, you are already prepared to handle the ebb and flow that retirement and investing while retired, can bring.

9. You Don’t Measure Your Life Against Others

One of the most profound benefits of retiring on your own terms is that you no longer have to measure your life achievements against what others have (or have not) gained. Success and failure are both just chapters. Some of which fall short of a goal and may ultimately lead you to end up reaping more rewards than if your original plan had succeeded. Life is funny that way.

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10. You Know That Age Is Just A Number

Nowhere is it written that you have to reach a certain age in order to be “ready” for retirement. True, some financial situations, such as pensions, 401k’s or Social Security have a mandated legal age, but the idea of retiring and beginning a new life is not bound by those same numbers. That is why people like Hayden could choose to retire at 27, while others continue to work through their 70’s and 80’s. Knowing that age is just a number means that you are not bound by the societal barriers that dictate what the “right” age for retirement should be. That choice is uniquely your own.

So What Questions Should You Be Asking?

Every journey starts with the question: What do I want to discover? No matter what your age or status, it is never too early to start asking yourself some serious questions about retiring. As you look within, these 10 signs will stand out as beacons showing you that the only obstacle to meeting that dream is yourself. Dare to take that first step today.

Featured photo credit: barca-couple-soledad-wholesale-473854/Montaplex via pixabay.com

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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