Financial Freedom Checklist To Track Your Early Retirement

Unfortunately, many business were not lucky enough to just survive by reducing their workforce. Some industries such as hospitality, travel, retail, etc were totally decimated.

Do not beat yourself up. Even though you did everything right, just by virtue of being in the wrong industry you suffered. Analyze your current skills, If you need to transition to another industry do you have the necessary skills?

Software is eating the world. The entire world has moved online. Even my ethnic Indian grocery store now has a website to order things online.

The pandemic and the government ordered closures across the globe have shown how business have been crushed for lack of funds. Individuals who have been ordered to shelter in place also suffered loss of wages.

While we may not agree with everything he says, there are nine decades of wisdom buried in Warren Buffett’s quotes.

This is a great time to look at your emergency fund and determine if it is adequate.

Increase Your Saving Rate

Saving rate is dependent on what you spend and what you earn. We already talked about ways to earn more at your job and also how to develop additional streams of income outside of your day job.

Given the uncertainty in the economy, we should all tighten our belts and eliminate any non-essential expenses.

While planning for early retirement, you also need to consider future goals such a child’s education or a kitchen remodel.

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