When Can Some People Retire At 50 Essay

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How can some people can retire at 50? Or not lose their shirt when there’s a stock market “crash”? Why are some people able to earn high incomes or even have “multiple streams of income? How come some people retire to a life of luxury and world travel, while others barely have enough to feed and house themselves? Of course, one part of it the answer is that some people are more intelligent and industrious than others. No matter what anyone says, we are not all the same. We may have been created equal, but no one has ever guaranteed us equality of results. That depends on our own efforts. Another part of the answer is that some people consider the risks they will face and do something before they occur to mitigate the damages. One obvious way of doing this is by buying the proper kinds and amount of insurance to protect your home, health and …show more content…

If you work for yourself, you want to be the best at whatever it is you’re doing, from practicing medicine to baking bread. You also have to have the will to persevere and work long hours at making yourself a success. Yet another part of the answer is having a plan. Some people get up in the morning and let events carry them along through their day. Others plan what they will do with their life and stick to it. They will learn about investments and how to diversify, so that when one asset goes down another holds its own or goes up. Or they will hire financial profesionals to do the work for them. They save as much money as possible, using every tax sheltered vehicle allowed, including 401-K’s, IRA’s, Health Savings Plans and 529 educational savings plans. And then they will invest even more in taxable accounts. They live well within their means. Some like Warren Buffet, one of the world’s richest men, lives well under theirs. They will use credit judiciously or not at

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