Remote expensive residential and high-cost financial products. Don t touch 9 things if you want to save your pension.

If you want to save money and retire early, in addition to opening up, the flow is also important. According to the financial management website GOBankingRates, the "financial independence, early retirement" movement of investing 50 to 70% of its income in savings and financial management is in full swing. To achieve the goal, it requires a lot of planning and sacrifice, and experts do not recommend buying the following nine kinds of things.

1. Luxury and experience

Financial consultant Andrew Latham said that famous cars, brand-name clothing and luxury holidays are almost harmful to the future financial situation of individuals. Because these commodities not only fail to create revenue, they will also increase costs and open up sales. Taking famous cars as an example, in addition to the high initial cost, high insurance and maintenance costs are also required in the future. Lesson said that if you want to retire in 20 years, the average annualized return rate is 7%. Now, every extra money is spent, and four less money is missing when you retire.

2. The holiday home

Kovar Wealth Management executive Taylor Kovar retired early several years ago. He said owning a vacation home can be intimidating, but timeshare is usually a bad investment because it is expensive, difficult to redeem, and less value-added.

3. High interest debt

Lesen said that high interest rate debts such as credit card debts are prone to quickly accumulate and get out of control, allowing the pre-salary work to be lost. According to the financial website Investopedia, the current average credit card interest rate in January 2025 is 24.37%. Therefore, the amount should be calculated, save the majority of each salary, and diversify the investment wisely.

4. Investigation Investment

Financial analyst Michael Collins said that if you want to retire early, you should be respectful to investing. Although high-risk investment has the opportunity to bring great rewards, it also has high risk losses and severely hits retirement plans.

5. High-cost financial products

Avoid buying high-cost financial products, such as specific types of mutual funds. Lesson said that high costs will report on food investment, reducing the growth rate of retirement savings.

6. Non-essentials

Kova said that spending $8 a day to buy a cup of iron will cost more than $1,800 a year. It is better to invest this money, and the refinancing growth is faster than queuing up at a cafe during peak hours in the morning.

7. Extraordinary residences

The larger the home, the higher the mortgage loan, more housing taxes, and higher maintenance costs. Lesson said choosing to live in a house that meets your needs to avoid making your budget stretched.

8. The latest technology products

People are easily attracted by the latest technology products, but these expenses are accumulated very quickly. Kova said that if you keep buying the latest devices on the market, you are basically donating your money to your favorite, not a retirement fund.

9. Tatiana Tsoir, a higher education

program who cannot obtain skills, should choose to teach practical skills rather than blindly pursue courses that match interest. Hotness and interest can be spent extra time learning with income. For example, majoring in history, academic programs or engineering, because obtaining skills is far more important than expensive degrees now.

Responsible editor: Gu Zihuan