(ThyBlackMan.com) You see, working as long as possible is good for your mental and physical health. But what if you have some dreams that can keep you busy after retirement? Accomplishing some goals will be easier after you retire and the good thing is you can retire early. To do that, you will need financial freedom which can only be accomplished if you’re following some clever investment hacks.
Here’s a list of 8 investment strategies that can help you achieve your dream retirement early.
- Focus on a hot trend
The current trend which is going to give you long-term financial growth is building online assets. It can be as small as creating a blog and as complex as setting up a complete online business from scratch. Research and look for what’s in demand. Once you’re done with the research part, plan your first move and then the next few. Start with that trend and build something for yourself to generate extra income. Work on a side gig during holidays or on weekends.
- Build a business around your interest
Everybody knows something special. It can be in any area but it should be relevant to your skills and your knowledge. Build a business around that interest. If you feel that the market is 
saturated and you are unable to come up with a unique business idea, think about creating a unique product or service.
Just keep in mind that no idea is completely unique and there are competitors in almost every industry. As long as you’re able to successfully differentiate your products or services from the rest, your chances of winning the game are pretty high.
- Invest in skills and education
If you don’t know what you would be doing after 5 years or 10 years, get clarity on that part first. If you are already clear about it and have been working in a particular area for some time, start working on improving your skills. Take up courses online or offline and learn more about the things you spend a lot of time on. The amount of time and money you will put in educating yourself for the advanced level will certainly help you throughout your life. Have patience and keep learning and improving.
- Savings
Without savings, you cannot and should not invest your money anywhere. Sell the stuff you don’t need. Do not smoke, do not drink, stop taking unnecessary subscriptions, and stop buying things you don’t need. Save the time you spend on social media and utilize that time to build something for yourself.
Stop hanging out with people who require high maintenance and prefer a lavish lifestyle. Walk or use a bike and try to avoid using a car. If you really need it, hire a cab instead of buying and paying the maintenance cost all the time. Cook your own meal and stop eating out as much as you can. Take care of health, sleep and what you eat and most of your health problems will be reduced which means more saving. Focus on savings because it will help you.
- Don’t time the market
You can never predict the market movements and nobody else can. So, stop trying to control the market with your knowledge because no matter how much you understand or know about an industry or a company, you will not succeed if you time the market. There are many factors and forces that affect market scenario and if you’re trying to make quick money, you won’t succeed. Instead, focus on long-term investment and invest your money only after carefully understanding the risks and opportunities.
- Invest in a mentor
Find someone who is already doing what you are thinking about. You don’t have to spend hundreds of dollars on a management guru or someone who claims to be an expert in finance. You can find a lot of good advice on the internet and also in books. If you are just starting out, learn the basics of money management first before you sign up for a course or take services of a mentor. Once you’re ready to take help of a mentor, choose someone who leads by examples and not by words.
- Find solid companies
Unless you’re an insider, it’s impossible to judge a company and predict its growth or market movements associated with its performance. To find a solid company, you must ask some really important questions such as how do they improve or balance profit margins. Does the company have an excellent or at least above average sales organization? Don’t go by the name, focus on the profit margin because that’s how investors earn.
- Maximize tax-free income
Your goal should be to minimize the tax you pay and maximize tax-free income. There are many ways you can earn tax-free income and save more. You can start by contributing more to a Roth IRA and you can also earn tax-free income by investing in munis or municipal bonds. There are some more ways to maximize tax-free income such as selling or renting out your home and by contributing to a health savings account.
Staff Writer; Jay Brown
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