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What are some ways to plan for early retirement?

A:

Quick Answer

Ways to plan for early retirement include settling bad debts before the retirement and making emergency savings, according to Investopedia. Avoiding unnecessary expenses while still under employment helps to save money, which may cater for essential needs after retirement.

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Settling bad debts before retirement ensures that the little money that an individual has caters for his needs without having to exhaust the money in paying the debts and live in financial problems after retiring, notes Investopedia. An emergency saving helps an individual to pay for his needs when the retirement comes unexpectedly. Although there is no agreed, fixed amount that an individual should save for an emergency, it is advisable to save as much money as possible.

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