10 Powerful Ways to retire in less than 10 years

Ways to retire in less than 10 years


Powerful Ways Penny Pinchers Used to Retire in Early 30s. Learn Ways to retire in less than 10 years

Want to learn multiple ways to retire in less than 10 years? If you answer yes, than you came to the right place. Penny-pinchers are saving early, living frugally, and multiplying their income sources in order to retire young. Some of them manage to retire in their early 30s. If you are thinking how is this possible? Than continue reading, here I will teach you keys to do just that and share some success stories.

First, let me share you few success stories to get you motivated. Trust me, once you read these stories you will be eager to learn how you can retire in less than 10 years without working more.

Pete Adeney, AKA Mr. Money Mustache:

He is an engineer, blogger, and an advocate of FIRE movement. FIRE stands for financial independence retire early. Mr. Adeney and his wife left engineering jobs in 2005 and now they are financially independent. They were able to retire in their early 30s and never work again for someone else.

Wondering how he did it? He saved 50-75% percent of his engineer salary for over 9 years and budget his yearly expenses to under $25,000 per year. In that 9 years, he saved 1.1 million, enough for them to retire in less than 10 years of work. How did he manage to save so much? He never owned a car, he biked to work regularly, and they did little less than their income level people. Not having to pay for car insurance, maintenance, depreciation, auto loan payment definitely helped him save extra few thousands every year.

Ebersole’s Family:

Similarly Mark Ebersole, 37 years old, and Sina Ebersole, 35 years old, are now retired. They make enough income from their investments and passive income sources, they do not have to work for anyone anymore. Their key was saving, saving, saving, saving, saving, no matter how foreign the concept may sound. They saved enough and invested it, and were able to retire in less than 10 years of active income work. 

Robinson’s Family:

Michael and Ellen Robinson are both 38 and they stopped working full-time two years ago.  2 years ago. What was Michael receipe for it? “Saving as much as we could as early as we could and allow it to compound interest over time.” One of the ways they did this way by shopping only in thrift stores. They also used credit cards strategically and manage to get 6% cash back on groceries, 3% back on gas, and 3% back on department stores. They also cut down on restaurant visits and cook more in home.

What were they able to achieve by spending so little and being smart with credit cards? They were able to achieve financial freedom, early success, and multiple source of income needed to retire in less than 10 years. 

If you want to learn more about these penny pinchers stories, you can watch this video. 

Achieve Financial Independence

If you want to learn how you can replicate what these people did, than you are at the right place. Wish I knew these things when I was young, because the key here is saving. We all want to be better with our money, weather it is making more money or growing our wealth, it’s all about the improvements we made along the way.

Most people will not follow simple steps to avoid falling into financial pitfall. In fact, 26% of adults in the united state have no money saved aside for emergencies and 36% have not started stocking money for retirement. Average American has over $5,700 on revolving credit card debt, the median net worth for people aged 45 to 54 is only about $84,000. All I am  trying to say here is that you should pay attention to this. It is really simple things that you can begin doing right now so you don’t end up as one of these statistics I just mentioned.

Penny Saved is Better than Penny Earned……..

The number one KEY is to understand PENNY SAVED IS BETTER THAN A PENNY EARNED. Yes this is absolutely vital to understand if you want to retire in your early 30s or early 40s. If you want to retire in less than 10 years, than mastering this concept is pivotal. Anybody can earn money, but it takes skills and qualities to save money. Only ones with right mindset can do it. You have to be okay with delayed gratification, you will have to resist your temptation to spend unnecessary money, you will have to make difficult sacrifices.

I’m pretty sure most of us think working more and earning more is the key to saving. But this is not the only solution. In fact there are many other more efficient and better ways to save some money. Off-course, balance of both earning more and saving more is ideal, but it is often difficult to work more. I think it is easier to find ways you can save more or cut on spending than working extra shifts.

Benefits of saving is exponential in a long run, way better than simply earning more. Below I listed few of the ways you can do it, if you know other ways please make sure to comment on this. Also, please share this with everyone who you think can benefit from this. At the end I will talk about powerful weapon that can grow your wealth exponentially, so continue reading all the way to the end.


  1. Refinance your Major Debt

One thing you can do is refinance your debt, such as auto, home, or student loan. Let’s say you took auto loan or home loan 2 years ago and your credit score was somewhere around 660 at that time. Let’s say you made on time payments and practice good credit techniques for last 2 years and now your score is 730. You can go to your bank and refinance your loans at much better interest rate. You can take advantage of improved credit by refinancing your loan at a lower rate. In the long run, by paying less interest, you will save lot of money and you will have smaller monthly payment to make.

It does not cost you anything to refinance and you can do this as long as your credit score is improved. By refinancing your car or mortgage loans, you can save hundreds of thousands of dollars. Plus, you pay zero percent tax on this money you saved. Imagine you earned $10000 extra this year, you might have to pay upto 37% tax on it. That is $3700 of your hard earned money, potential $3700 that you can use towards your goal to retire in less than 10 years. In this case, as you can see penny saved is actually better than a penny earned.

  1. Re-Balance Cost and Spending Spreadsheet:

Another thing is look where you are spending money and shop around for similar quality cheaper options. For example, you could change phone provider. Let’s say you are currently with Verizon and pay $250 dollars monthly for unlimited data, talk, and text. You can change it to cricket for $125 dollars monthly for same unlimited data, talk, and text. Cricket uses AT&T tower so you will get good service for the most part. Instantly you are saving 50%, that is $1500 dollar saved from you already taxed money. You can do this with you utilities provider,  netflix subscription or your hulu subscription and save some money.

If you carefully look around, I guarantee you will find at least 5 places to cut down cost. It might seem like little thing now but it can translate into big savings in the long run. Look at all the things that you pay for on a monthly basis and make sure that you are not over paying. Let’s say you saved some money doing this and now you are ready to take it to the next level. You can start looking into where else can I save money: maybe it’s on my groceries, maybe it’s dining out, maybe it’s one of your expensive hobbies that you can afford. I know it can be difficult, but if you are dedicated and work hard it’s attainable.  Just think of it has one little sacrifice to achieve your dream to retire in less than 10 years. 

  1. Affiliate Marketing:

There are lot of affiliate marketing options out there. But for beginners, amazon affiliate marketing is the best to start with. Here are few reasons why I recommend beginners to start their journey with amazon.

  • If you want to become a successful affiliate marketer, you have to have some salesmanship ability in order to promote and sale your product. You need to know how to sell and convert people from a cold lead into a warm buyer. With amazon affiliate program, you do not need these abilities. You can simply target the people that are already buyers so you don’t have to go through month long process of warming up a lead.
  • When you are starting out, it will be hard to set up website that can support payments. It will be hard to sell your own product without utilizing too much human resources. With amazon, you can simply refer customers to their website and let them do the selling. Simply get people to amazon and amazon will do all the heavy lifting for you. You simply sit, relax, and enjoy your commission.

  • You can earn lot of money selling products that are not even yours. Let’s say you have audio equipment site and you review all kinds of microphones in this website. Let’s say you recommend best microphones to different people. If they click your link and land to amazon site, they may or may not buy that product. However, they may end up buying other products in amazon, which you can still receive commission from.

  • If you refer someone to amazon, than you will get commission on everything they purchased from amazon for next 24 hours.

So, as a beginner this is a great way to pull in little side income via affiliate sales. Even if they don’t buy the product your are pitching, they can still end up buying something else they need. As a beginner, you’re not going to have the extreme marketing skill to do the big stuff, so amazon is perfect starting point. You can invest the money you made from here and grow your retirement fund. 

  1. Take Advantage of Credit-Card Cash Back:

All right, let’s talk about credit cards now. The number on rule of credit cards is never buy anything ever that you don’t already have the money for. If you can’t pay off your credit card tomorrow, do not use it. The interest rates on credit cards are astronomical if you don’t pay your credit card off on time. You will pay double or triple the amount for the same item as if you had bought it in cash. So, the most important rule is do not buy anything you don’t already have the money for. That’s how credit card companies make their money and they make a lot of it. All those fees, all that interest goes back to them, at least most of it.

Some of those fees and interest goes to people who can harness it, people like me.  I’m going to show you how and help you be as successful as you possibly can be.

The average American family spends about $900 a month on groceries. There are cash back credit cards that will pay you six percent every time you use it at a grocery store. That’s over $50 a month in free cash. An extra $50 a month may not seem like a lot but let’s see what else we can do to increase it. If you get a small percent back on a credit card every time you use it, the only way to get more is to spend more. Let me introduce you guys to a concept that’s very important in business, it’s called other people money.

If you’re not rich, the easiest way to get rich is to use other people’s money. Let me give you an example so a few years ago I was working for a company that was spending a ton of money. I went through the accounts. I found about 50 million dollars worth of things they were buying every year that they could put on a credit card. So I went to the boss and I told him, “hey look you never have to pay me a salary again, don’t pay me anything, just let me use the 2% cash back credit card. You reimburse me and I’ll put all this on the credit card.  They did not go for it, if they I would made a million dollars per year. One million dollar free money.

  1. Dividend Incomes:

You can invest in highly quality dividend stocks. Right now is the best time to buy value dividend stocks. It is easy to find quality stocks that can give anywhere from 5-10% return per year. If your stock growth is 5%, total you made 10-15% return on your investment. That is crazy number. Compound it for years, and you will retire in less than 10 years of work. Retire early and explore the world, there are lot of beautiful things out there. 

  1. Blogging

As a blogger there are lot of avenues you can take. There are countless opportunities, you can tap into any one of them. Hardest thing is finding the niche that you enjoy writing about, and yet have little to no competition.

You can blog for side income or as a full time. Lot of bloggers make anywhere from $300-$3000 and they put 5-30 hours per month. You can get started by learning ways to blog and how to start a blog.

  1. Youtube

How to start earning serious money on YouTube? YouTube is a truly exceptional Platform,  it allows creators from all over the world to share their ideas and work with the public. You can start your own channel or perhaps you already have one and are wondering how you can make your hobby a steady job.

Let’s find out together. YouTube channels make a profit from their videos. It’s a decent amount of money so if you’re seriously thinking about making YouTube your main source of income you should start with more research. Start your own channel, and the magic of YouTube is that your channel can be about almost anything. You can make short and meaningful cartoons sing or share your lifestyle, options are endless.

Helpful Tips:

You can use your Google account for Youtube channel or you can create a new one.  It’s better to choose your username carefully because the more complicated name have less chance of doing well. It should be something easy and memorable name so that people can share it with their friends and family. You don’t want them to say I saw a cool video on youtube, but I don’t remember the channel name, it was some weird name.  

The more people that find your channel, better it is. Add keywords connected to your content in the advanced section of your channel settings to increase search engine visibility. Find a niche that interest you and make videos, you will start earning in just months. It might take some time before you see the results you want, but don’t be disappointed, keep working hard. You will eventually start seeing results and hopefully grow it big enough to retire in less than 10 years. 

  1. Invest in Stock Market

When you think of investing the first thing that comes into mind is this complicated world of the stock market. With so many charts and numbers it’s easy to get confused. So let’s break it down and try to make a sense of it.

How much money can you actually make investing in stock market? That depends on what you invest on, when you invest, and how much you invest.


Let’s take an example of Mark Zuckerberg, Facebook, which went public in 2012. Facebook issued 337 million shares at a price of $38 a share, not bad right. When Facebook realized that there are so many more people who want a piece of his pie, he added another 84 million shares. The stock price went up to $45 during the first day of trading. Imagine if you had purchased it at $38, you would have gained 18.4% in just a matter of day.

Now in order to understand what’s happening here, we have to get to the roots of the stock market. In the past, stocks were source of side income, primarily known as dividends. Theoretically when you buy a stock you become the owner of that company. It means that you like any other owner have the right to the profits of the company.

Let’s assume you have purchased 10 Facebook stocks in January of 2017 and now you are the owner of Facebook exactly like Mark. I’m not kidding here, try not to laugh. So, let’s say your company makes sixteen billion dollars. How much of that belongs to you?

At the end of the day, you have spent thirteen hundred dollars to buy your 10 stocks. With 3 billion Facebook shares, I doubt that your 10 stocks matters much.  But let’s be optimistic and do calculation. If we divide the net income by the number of shares, each stock should earn you a little over $5. By the way that’s known as EPS, in other words, your 10 stocks supposed to earn you $54.

Another Example:

Like Mark Zuckerberg, last year Apple paid 13 billion dollars in dividends or 2.5 dollars for each stock. It’s not much for a stock that cost $170 but something is always better than nothing.

However, today it doesn’t really matter how much the company paid you in dividend because the stock price gain 33% within a year. That return is way better than markets average you probably have heard of.  Investing in high value stocks that have potential to grow is the key to increase your total return on investment.

If you do this with multiple quality stocks, you can eventually build monthly income source to replace your daily job income. When this happens, you can officially retire, hopefully retire in less than 10 years.

  1. Real estate:

Real estate investing is a giant topic that requires multiple little topics discussion. This is one of the oldest wealth building technique out there. In fact, it is very reliable if done right. You can earn millions of tax free dollars from real estate investments if you do it right.

You can start with single family investment strategy or with multi-family investment strategy. To start, it is better to start with single family. You can expose yourself into the real estate market and learn more about it. Once you master it, you can start investing in big multi-family properties. If you want to grow big, you need to invest in multi-family units. There are lot of avenues with real estate, no matter which route you pick you can find 100% success in real estate if you do it right. 

If you want to learn more about real estate, than watch Grant Cardone youtube vidoes.  

  1. Other ways you can make money:

There are many other ways you can make extra income. However, above 9 I discuss are the major ways you can grow wealth faster. Other methods you can look into are:

  • bonds
  • certificate of deposits,
  • roth IRA
  • 401K
  • US treasury, and
  • high-yield saving accounts.

Power of compound interest


Many say compound interest is the eighth wonder of the world? “Compound interest is the most powerful force you know” said Albert Einstein and you know he was right. I’m sure most of you know it’s basically just a concept that overtime your money begins to make you money when the interest compound on your principal. When it comes to personal finance at our journey to financial Independence and retirement, compound interest is either your greatest ally or your greatest foes. If you use it right, this is your biggest ally to retire in less than 10 years. 

How is compound interest your greatest ally?

So, for example if you had $100 invested in the stock market and it returns 10% annually. In your first year you would have $110 because you made $10 in interest. However, if you leave your money for the second year, this time you will earn 10% interest on $110 not just $100. At the end of the second year you will have $121 dollars. Just imagine how much of a difference that makes even on something as little as $100 over the course of entire working career.  Here you can see compound interest is your greatest ally, but it also works in reverse.

How is compound interest your greatest enemy?

For example, if you have lot of debt all accruing interest, then not only your money not making you money, but rather it is costing you money. I’m a millennial, so I’m going to use student loan as an example as it is particularly prevalent in my generation. Student loans are generally paid out over a 10-year, 120 months, window. Assuming that you don’t pay them off early and you have fairly average interest rate hovering around 4-4.5%, you will have paid $9,170 interest on your $40,000 principle. That’s an average of $76 a month just on interest payment.

Now imagine, rather than paying interest, let’s say you put this $76 in the market at 8% rate of return.  You would end up with roughly around $14,000 if the money had been working for you and not against you for 10 years. I don’t know about you but an extra $14,000 sound pretty good to me. Compound interest is an amazing tool if used correctly and it can work wonders for you especially when it’s combined to something like a concept of a high savings rate.

Success Story of Dave and Amanda

Dave and Amanda are both 23 year old super savers. They are making about $60,000 a year and live on about $2,000 a month. They can do this , because they’re debt-free and currently don’t have any children and as a result they can take full advantage of their retirement plan. If they both max out 401K in the first year of work at average 8% rate of return they will have over $600,000 waiting for them when they turn 60.

Now, say they max out their 401k for 2 years instead of one year, they will now have $1200000 when they are 60. If they were to keep working until what the government tells us retirement age is, which is 67 for anyone born after 1959, that 1.2 million dollars million dollar would turn into 2 million dollar. That 2 million is enough for them to live comfortably and retire in less than 10 years. 

All this happened because of just two years of saving, that my friend is the power of compound interest. If you want to learn more about compound interest make sure to read how to earn compound interest 3 different ways.

Thank you all for reading my post, I greatly appreciate. Make sure to read my other posts and comment below if you have other ideas or suggestions. Share this post with friends and family and help me grow, I will continuously post articles to help you become financially independent and achieve retirement at your dreamed age.  

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