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Retire young and retire rich in the next 10 years

Imagine if you could within the next ten years create serious wealth for yourself? Consider this for a moment. Can you see yourself departing from the daily stress, hustle and bustle? Can you see yourself doing what you love doing? Having time for friends and family? And still have more than enough to get by?

Now don’t get me wrong. I’m not here to pull your leg. Or to share with you dreams and fantasies you may never achieve. No. I’m here to tell you that it’s possible. Frankly speaking, anyone can retire young and retire rich once you know how.

Let me start by appreciating Robert Kiyosaki, best selling author of “Rich Dad, Poor Dad“. Robert is responsible for coining the phrase which I borrowed for the title of this article. Now don’t worry if you’re no longer young while reading this. Acting on these insights will see you retire rich in as little as ten years from now.

Furthermore by retiring I’m saying that in ten years or so you would have it made. By that time you would have set up income streams that will produce for you, whether you work or not. And that’s true financial freedom – being free from financial worries for the rest of your life. Let’s get right into it:

What can I do to retire young and retire rich in 10 years time?

Being rich is challenging, but it’s clearly not rocket science. In essence money making responds to the following of a series of steps or rules. A commitment to these universal laws will guaranty one financial success. You can definitely afford to retire as a financial success in 2027 by doing the following:

Set ambitious financial goals for yourself

Goal setting – having a good idea of what you want is key to retire young and retire rich. Most importantly you cannot run this race without a clear idea of where you want to be financially? Write down how much you want to be worth in ten years time. According to Brian Tracy, one of the leading experts on success,”those with written goals are 90% more likely to succeed than those without goals”. Set goals that are specific, measurable, achievable, realistic and time bound (SMART). Let wealth and riches be your desire

Review your goals daily and affirm them

Don’t just set goals, review them regularly. Your goals are not going to jump out of your notebook and become reality just because you set them. You must commit to revisiting them daily and also affirming them to have any chance of success. Jack Canfield, another foremost expert on maximising potential advocates affirming your goals daily. According to Jack, “Daily affirmations are to the mind what exercise is to the body”. He has created 8 guidelines that can help you create effective affirming statements.

Integrate practical action steps into your goal

Let’s say for example your goal is to have a networth of $100million in 10 years.  You need a plan to achieve this goal . Any individual who intends to amass a fortune must must take up self-employment and forgo paid employment. You must start/invest in multiple businesses.  Financial Success will be the result of planning and acting regularly. Also commit to reviewing your plans daily and making the required changes where necessary.

Master money

You’re wishing if you think you can retire young and rich without a thorough understanding of money. You cannot amass plenty of anything you don’t understand. Invest time into completely understanding money, how it operates and what it takes to amass it. Strive to achieve financial literacy by reading books, watching videos and attending online courses on the subject by experts. It’s imperative to keep learning and developing oneself.

Make sacrifices

Without a doubt, the greater the achievement the greater the sacrifice. Nothing good comes easy, wealth notwithstanding. You need to do what you’ve never done before to get the result you’ve never gotten before. Retiring young and rich requires huge sacrifice. However at the end of the journey the rewards will be well worth it.

Develop a source of motivation and inspiration

While it’s quite easy to give up on the journey to wealth you must keep motivated and inspired. Find out what keeps you inspired and motivated to achieve your goals and keep doing it. I get my inspiration from reading magazines like Forbes Africa, watching interviews of the rich on Bloomberg, CNN or CNBC Africa. Or reading biographies of the rich like Bill Gates, Steve Jobs or Aliko Dangote. Keep motivating yourself.

Build a team

No one builds wealth and fortune all by himself. You will need the help and input of others to make this goal a reality. Financially successful people work with numerous players, I call them, “Money Team” in order to amass wealth. This includes lawyers, accountants, bankers, advisors, relationship partners and even spiritual and religious authorities. A team is a must-have in the quest to retire young and retire rich.

Develop the right attitude

Attitude matters, pure and simple. No serious achievement can be made without the  mind. The mind is,in fact the engine room for all achievement. It is actually where success or failure starts. Your mindset, beliefs and attitudes must be be changed to mirror the financially successful’s if you want to be like them. This is also where the books, magazines, CDs and videos will also come in handy.

Help others

Those who help others will always end up getting help when they need it. Helpful people find it easy to get help if their goal is to amass wealth. Don’t overlook helping others if you want to retire young and retire rich.

In conclusion welcome to the path

I’d like to conclude by welcoming you on this path to retirement within the next decade. A sustained and systematic application of all points raised above is sure to help you attain the objective – to retire young and retire rich. It’s not too late to start working toward this. Now is the right time. Don’t despair of reaching out to me if you require support of any kind.

 

 

4 thoughts on “Retire young and retire rich in the next 10 years”

  1. Manas Pruthi says:

    This is, hands down, one of the best and most powerful articles I’ve read so far.
    Thanks

     
    1. Kenneth Doghudje says:

      Dear Manas,

      Thank you for those really fine words, I really do appreciate. I would be honoured to have you subscribe to moneytalkNG and get additional articles and great content. Please do so by entering your details on the right of all articles.

       
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