A lot of Americans have the idea that you spend your life working until your 60's then retire to live out your last few years in peace and quite , but a new trend of extreme early retirement is changing the concept of retirement for good. Extreme early retirement is based on two principles. One , live as frugal as possible. Two , save ,save and save some more.
Ideally you want to save around 75% of your income. This can be done by cheaper living such renting rooms , eating bulk food such as noodles and rice , and avoiding unnecessary entertainment purchases. People following these concepts have been able to retire in their 20's and 30's. Follow these principles and you can easily quadruple your retirement funds in less than 10 years.
I currently have zero dollars invested in my retirement. In ten years, if I really focus on budgeting, I can double that amount, making a grand total of zero dollars. Seriously though, a person could easily double their nest egg in ten years if they don't have a lot of money invested in the first place and they began saving more.
A business needs motivational employees to grow and in today's age, companies grow in the span of merely 3 or 4 years. Examples like facebook, twitter, viber, whatsapp, google can be seen. So, if you motivate your employees and you commodity have a demand in market then you can grow your size and double your size in no time.
I currently don't believe I'll be able to double my nest egg because at the moment, the economy isn't doing very good. I personally think that it will take lots of work on the part of the economy in order for me to ever double it. I am hoping that things change within the next few years, or else... It will suck!