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That leaves just 17 years for the oldest millennials, or as long as 42 years for the youngest.
Either way, retiring with enough income by that early age will require some aggressive steps.
Here are the eight most important things millennialsmust do right now if they want to retire sooner.
Start as Early as Possible
The biggest single contributor to a large retirement account is starting early.
Compound interest can work miracles on an investment account, but it takes time.
Youd end up with an account balance of about $91,000.
Find Multiple Income Streams
Its easier to save if you have multiple streams of income.
In addition to your regular job, look for other ways to generate income.
Pay Off Your Debt
Debt is a killer when it comes to financial plans.
Every dollar you have to pay towards debt is another dollar that you cant save and invest.
Over time, this extra money can really add up and help you retire sooner.
Thats a gain of roughly $960,000, more than 75 times as much profit.
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