Many people dream of retiring early. Like us, celebrities also dream of retiring early and leaving all the fame behind. While we only think about it, there are a few famous personalities who have actually done it. Although, the limelight offers huge benefits, these benefits come at a price, and they can be too big for some celebrities. It can be due to this reason or for various other reasons that few stars choose to retire early from their famous life. They opt to live quietly and do nothing or pursue a different profession.
The following 15 celebrities retired early from their lucrative career path, walked away from the spotlight, and went ahead with their retiring dreams.
Everyone pictures their retirement as a lovely vacation, where they can get up late, travel to far off places, play golf, and spend time with their family and friends. There’s nothing wrong in such a visual escapade. After spending your whole life making money, you want to use that money during your retirement years. But before that, you need to plan your retirement accordingly. Spend less, save more, and enjoy a happy retirement life.
Nevertheless, money is not the only thing that can assure you of a happy retirement life. While a huge nest egg may make you happier to some extent, there are other important things too. Just the freedom to do whatever you like can suffice everything. And, even if you have not taken the necessary steps for your retirement, you can take them in your golden years. As they say, “It’s never too late to start over”; now also you can make adjustments to your lifestyle, accept the reality, and move on. Go through the 15 secrets of a happy and comfortable retirement life and utilize them when you retire.
Retirement is an inevitable part of life. Whether early or late, retirement will surely occur. You cannot run from it. In order to spend their retirement life in leisure without any financial problem, many people plan for it in advance. It is just that some plan it early and some late. Retirement planning involves setting important financial goals. It is not just about funding your IRA (Individual Retirement Account) or 401(k). However, your retirement planning can have some flaws that you might not even know about. Just a few wrong decisions in your retirement planning can turn your golden years into poverty, penny pinching, and dependence rather than being joyous, independent, and leisurely.
Read on to find out about 15 retirement planning mistakes that you must avoid. You will also know how to correct them in order to make your retirement life enjoyable.
There are various types of retirement plans offered by different financial institutions. Among so many, you need to choose the right one for yourself. The plans can vary depending on the needs of the individuals. IRA (Individual Retirement Account) or 401(k), all have distinct features. Many people take help from intermediaries, when devising their retirement plans. Moreover, the hidden costs in several retirement plans are overlooked. Both the intermediaries and the hidden costs amount to a great amount that you may not even realize until you calculate how much you are paying for them. They can filch your nest’s egg in many persistent ways. Over time, these fees increase, resulting in a decrease in your retirement savings.
In order to save you from these money eaters, we have come up with a list of 15 ways through which you can get rid of various middlemen and hidden costs in your retirement plans.