Retire Before Your Grey Hair Sprouts


Our forefathers used to work the fields until they were old and no longer had the strength to wield a tool. Our parents worked until they reached the government-stipulated age of retirement. These days, however, more and more people are looking to retire long before their twilight years. Multitudes of working adults, still young and in their prime, are now hoping for an early retirement. And they have very exciting retirement plans in store: a very long holiday; moving into a mansion where they will grow old in.

One can only retire when he is financially free; no mortgage or installments to worry about. If this sounds like one of your plans, then building your nest egg needs to start right now!

Passive Income

It is no secret: Many of us barely make ends meet with our monthly salary, let alone have the leeway to apportion part of it for savings. If your work is already keeping you on your toes, then taking up a second job is definitely out of the question. Does that mean your income will remain stagnant? Are you doomed to hit an income ceiling? Well, not necessarily.

Introducing passive incomes: these are the salaries that you make in your sleep. No, we are not asking you to prostitute yourself — actually, prostitution would constitute “active income”. Some examples of passive incomes: renting an apartment out; affiliate marketing; royalties from publishing an intellectual property and etc.

With passive incomes, you will only need to carry out the heavy lifting during the early stage. For example, you will have to hunt for tenants and fill out the administrative forms if you intend to sublet your apartment. With affiliate marketing, you refer your web followers to new and exciting products, and you earn a commission whenever someone makes a purchase. Setting up the channels and gaining a multitude of web followers are no easy feat, mind you. Writing a book or recording a song requires you to channel the Shakespeare or Michael Jackson in you.

But once you are done with the heavy lifting, you will begin to see the money roll in. You will only need to kick back and monitor. That is the beauty of passive income. It supplements your paid salary, and there have been precedents where some successful personalities have quit their day jobs and lived off their passive incomes!

Pay Off Your Loans

To retire comfortably is to be financially free. Before you can retire, your financial liabilities need to be written off. This means that at your desired retirement age you must have paid off all your mortgage, student and car loans. Most people take up a 30 year mortgage loan, and the accrued interests can snowball to a huge amount.

Shave some years off that 30 year period by paying an extra monthly instalment (or two) every year. Instead of spending it all on a vacation, use part of your bonus to pay off your loan. This way you can save on the annual interests and you can clear your loan even before you spot your first grey hair.

By XY Boon for


About Author

Hello, howzit, sawubona, dumela... we love manly stuff – and sell it too! Our online store features 1000s of the coolest gadgets and products aimed exclusively at men. We’ve been selling manly goodness since 2008 and completely live and breathe “men’s culture” and all the cool things that surround it. Shop with us maybe? We source and support local SA businesses as well as import products from all corners of the globe.

Leave A Reply