These Smart Decisions in Your 30s Could Lead to Early Retirement
Many people dream of retiring early and escaping the workforce ahead of their peers. If that's a goal of yours, you should know that the sooner you start working toward it, the more likely you'll be to achieve it. And if you make these smart decisions in your 30s, you may be in line to leave your career behind in your late 50s or early 60s.
As a general rule, it's a good idea to keep your housing costs, including your mortgage, property taxes, and homeowners insurance costs, to 30% of your take-home pay or less. Following that rule will help ensure that you have enough money left over to cover your remaining bills.
Just as importantly, by keeping your housing costs low, you'll free up more money to put into your retirement plan. Housing tends to be a lot of people's greatest monthly expense, so buying a modest home could be your ticket to extra IRA or 401(k) contributions that fuel your early workforce exit.
Source Fool.com
