Thread: Slowlane advice for early retirement

http://www.forbes.com/sites/financia...-how-about-40/



I clicked on it thinking it was going to say "start a fastlane business" I was wrong...

Rewriting the article:

"How about 30?"

1) Be younger than 23. (In fact, set your target to 7 years in the future, knowing that you may achieve it in 3 or 11. So if you're 35, set your age to 42. If you're 55, set your age to 62. If you're 18, set your age to 25. 7 is a good number, based on other people's experiences)
2) Figure your number. (Your number = annual income*20. This assumes an average investment yield income of 5% annually . You could get more, you could get less, depending on your savvy. Aim for 5%.)
3) Plan out a Fastlane business that can liquidate for about three times your number. Half of that will go to the government in taxes, the remainder over your number is to pad market changes and/or haggling room. You want to actually liquidate for half your number.
4) Execute that Fastlane business. Build it from the ground up.
5) After your Fastlane business reaches your estimated valuation, put it on the market while at the same time continuing to grow it to the best of your ability.
6) Sell it. Pay off any leftover expenses (taxes, mortgage, car payments, business debts, personal expenses etc.) and invest the rest.
7) Do whatever the hell you wanna do. You're retired!

Oversimplified (extraordinarily oversimplified) but that's pretty much what I've taken away from what I've read. Please, correct me if I'm wrong.