Some forms of retirement planning are more efficient or generate more income than others. These are often unorthodox, a little more high-risk, and probably not on the menu of most services. Still, they can be useful when retirement planning Perth with an adviser to help you.


One method is to save more. When we say “more,” we mean “75% of your salary.”


Saving this much money involves a lot of cost-cutting, perhaps living a more Spartan or minimalist life. However, this is a valid strategy. Working to store any excess cash is useful because a savings account is a reliable investment.


Just by spending as little as you can manage, you can retire early because you have more money than you’d need. It can sound a little extreme, but for people who are frugal by nature, it’s easy.


Another strategy is to use trade or barter.


Most people don’t think much about bartering and trade. They pay for things. However, trading can be an excellent way to get things that you wouldn’t be able to get through simple payments. Trading services are often the best way.


By trading or bartering what you can do or enjoy doing, you not only develop skill but also cut away part of the cost of the hobby. This, in turn, can go into your retirement.


You can also do this with goods. Trade away items you don’t want for things you do. This passes the object around and gives you a chance to get additional value per trade. All without spending any cash, other than for meeting the people you’re trading with.


The easiest way to build up for retirement is to control spending in any manner possible.


Don’t buy luxuries you don’t need. Spend money on items that will last longer than you need them to. Cash should go into quality, not low-cost trash. Spending only on what will do the best job for the most extended period is essential.


The other half of this strategy is to minimise spending on what you don’t require. If you don’t need to have the latest phone model, skip it. If you can do without cable TV or a landline, stop paying for it. If you already have fifty handbags, do you need another one?


Finally, if you want to retire early, you need to plan for more income now. Investments, a better job, and other revenue streams are essential.

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