When younger I held #Index funds due to their low cost Once I started to think about #retirement, I switched to income funds These give me some growth AND a regular #income It’s possible to get 4 - 5% income via this approach without selling any of your holdings

What does ‘retirement’ mean to you? Will you give up work completely and focus on your hobbies or will you need some sort of work to give your life meaning? Knowing the answer to this will help you plan for ‘retirement day’

You should have easy access cash available for an emergency This doesn’t have to be in a low interest account You can ‘ladder’ your savings in fixed term accounts that release a set amount each month

Be clear on your #financial objectives Why do you #invest? Are you growing ‘net worth’ or are you building a ‘monthly income’ This will guide which #assets you are going to buy

A key step to #Financial #Freedom is to know where your #money is spent Call it a #budget, a financial plan or whatever It could just be a list But you need to know

To become “Financially Independent” your first step should be to reduce #debt Have you checked how much interest you pay on any debt you have?

Lots of people struggle when it comes to #money Some people take the time to increase their #financial intelligence 👉🏻 Take the time to learn about money and money will look after you

To #retire early you need to be “#financially independent” You need to be able to live without the need to ‘earn money’ through traditional work #Passive income is one answer, which can be earned from #investments

Shares vs Bonds? Buy #shares and you are buying partial ownership of a company Buy #bonds and you are making a loan to a company Shares are more volatile but have greater potential for growth Bonds are less volatile but lower growth A diversified portfolio would include both

Active vs Passive funds? Active funds are managed by a fund manager with the aim to ‘beat the market’ Passive funds, aim to replicate the market, or ‘track’ an Index Passive funds have lower fees and sometimes perform as well as active funds