How to retire early. Today I want to talk about: How to retire early and a really dangerous trend that could affect, or for most of you, will affect your retirement.
So, I was doing some reading and I came across an article that was on Motley Fool.
It's just a few days old and it said, "24% of parents have to put off retirement for this reason. Parents are sacrificing over 18% of their annual income to provide financial support for their grown children."
The author of this article said that because of this 24% 1 in 4 parents have to put off retirement.
I think this is really interesting because obviously… none of us want to put off retirement.
Everyone is thinking about how to retire early
And I also think it's very admirable to support your children. I'm planning to support mine.
I mean, I don't want to spoil them. At some point they have to earn their own money, but sometimes when children have a hardship, for example, when they want to buy a house you want to support them, right?
Or they're having their first child and you want to support them a little bit financially. There are things in the life of your children where you want to support them, and I think that's important.
The thing is, you've got to make sure that you are in the right position to do so.
And this is why…
I believe that you should learn how to trade.
Now fortunately, trading is something that you can do part time.
Even while you still have a job, you can start learning to trade. Especially the way how I like to trade. I only do it in 15 minutes a day.
In order to trade, you only need to master three things.
1. You need to know what to trade.
Especially when you're trading stocks and options.
What stock do you want to trade out of the 15,000 stocks that are available for you? I have a very specific process on how I do this, and I shared this another article on the blog.
2. You need to know exactly when to enter.
3. You need to know when to exit.
There’s two ways to exit. One is with a profit, or if the trade goes against you, exiting with your loss. You've got to make sure you limit your losses.
Limit your losses to 2% of your account. No more on any given trade and for the profits, I like to take at least twice as much as I'm risking.
If you risk a $100, you want to make at least $200. If you're risking a $1,000, you want to make at least $2,000.
You see, compared to other things, like investing in real estate or running a business, I believe that trading can be much more simple.
So, I just thought it was interesting, this article where 24% of parents are putting off retirement because they are supporting their grown children.
While it’s very admirable, it means that you have to retire much, much later if you’re not in the right position to do so.
If you're ready to get started with trading, jump on over to this article where I talk about The Best Stock Market Simulator