Many professionals dream of early retirement, hoping to spend more discretionary time doing what they’d like before their 65th birthday. And while a narrow margin of individuals is able to enjoy early retirement, it can be difficult to achieve. Not only does that leave you with less time to build savings and enable investments to compound, but that slimmer retirement package will need to last longer, and you’ll have to wait for Medicare or Social Security to kick in and supplement your nest egg.
In a recent Entrepreneur.com article entitled “4 Obstacles to Early Retirement and How to Overcome Them,” author J.D. Roth suggests that perhaps semi-retirement would be a more practical goal. Instead of quitting work completely, consider moving to part-time and seasonal work which would enable you to enjoy the benefits of more free time while being able to secure the following:
Ample savings. You are still able to put money away for that time when you plan to enjoy full-time retirement.
Modest living. Robert Brokamp, certified financial planner and senior adviser for The Motley Fool newsletter Rule Your Retirement explains, “The less you can live on now, the sooner you can retire. I often say that living below your means is like saving for retirement twice.”
Ongoing work. When you continue to generate income, you avoid drawing on your retirement while still enjoying the flexibility of working periodically. Maintaining a small yet profitable business on the side is a great way to enjoy ongoing work while determining what your work schedule looks like.
Purpose. In semi-retirement you can select those projects and professions that most excite you, enabling you to enjoy more satisfaction and purpose in your pre-retirement years.
While you can still work towards the goal of early retirement, semi-retirement is a viable option. As with all professional decisions, you must make the choice that works best for you after considering all those options.
Increase Your Options and Your Earning Potential
Becoming a tax preparer is a great way to prepare for semi-retirement. It could supplement your current income with part-time work in the evenings or on the weekends, enabling you to increase your retirement savings. And, eventually, it could provide the substantial income you live on as a Professional Tax Preparer after quitting your full-time job. Fortunately, the training necessary to become a tax preparer isn’t as long and as painful as you might expect. Universal Accounting Center has made it easy.
Our Professional Tax Preparer program includes the following:
- Informative video instruction
- Full 1040 training
- Full business return (1065, 1120, 1120S) training
- One Year Follow-up Support from expert tax preparers
Most tax preparation courses include books and some worksheets. Our training uses engaging and entertaining tax preparers who give practical advice on tax issues; they also provide real-world solutions that will give you the edge in productivity and profitability.
Because the IRS has imposed stricter regulations on paid tax preparers, they have opened the door to a narrower margin of individuals willing to fulfill requirements which include additional training and required testing. Universal is an IRS-approved Continuing Education Provider, and the Professional Tax Preparer program will enable you to become proficient in tax preparation while helping you comply with new IRS regulations. Call Universal at 1-877-833-7909 to enroll today!
Resource
Roth, J.D. “4 Obstacles to Early Retirement and How to Overcome Them.” 10 July 2012 Entrepreneur.com
