Retire early: What strategies you can play?

Business Contributor

We talk to a lot of people who are employed and one thing we hear from many. That is, most people do not want to work all their lives. They want to retire early.

That’s why the purpose of today’s article is to determine two effective ways to retire in a halal way that will help you to retire early.

But before we dive into those strategies, please note that as a high-level first priority when it comes to your money, you should see first:

-Whether all your debts are repaid;

-Even if you have a sudden problem, do you have this amount of money with which at least 6 months can be passed;

Considering these two issues, let’s dive to the main discussion.

There are two main ways to raise your money and retire early:

1) Frugality and Saving Money

2) Investments and Equity

These two points are discussed in detail below.

Frugality and Saving Money

Frugality means to be careful when spending money. In other words, to understand income, to spend. Moderate spending is also called frugality. Frugality increases people’s wealth. It also opens the way to help others. Thrifty people are never poor.

The person who earns one million per month and spends everything is not really rich. Basically the person who is rich and intelligent is the one who saves for the future by reducing costs.

If you start saving money from the beginning of your working life, it will be as beneficial for your future life as it will help you to retire early.

There are some practical ways to save money. Such as-


When you get paid or receive your salary, don’t rush to spend. Write a diary considering what you may need until the next paycheck. Write down how much each subject needs. Separate your needs from your needs. This will make it much easier for you to save money.

Purchasing low priced items

You will find that some products can be bought at low prices by visiting different stores. So, why would you buy the same low priced product at a higher price? If you buy low priced products, you will see that you are saving 10%-15% of your money every month.

One instead of another

Whenever you buy a new product, sell an unused product. It will also meet your needs. And the old product will not be ruined by falling into the house.

Saving automatically

It is very difficult for some people to save money at home. As soon as we see the money in front, new demands are created. So in this case, after making the budget, deposit the remaining money in the bank.

Cancel subscriptions which you don’t use

When was the last time you went to the gym? Seven or six months ago? Do you have to subscribe to Disney+ and Hulu or something like that after you already have Netflix? When you go through your subscriptions make sure that you are using those services. Cancel subscriptions which you don’t use or services that are already provided by other subscriptions or services.

Investments and Equity

“No one can retire quickly just by saving money.”

You may have heard of such a thing before and this word is 100% true. Suppose you save $1000 per week for 20 years which will be a little more than a million in 1040 weeks.

But the reality is that we can’t save even $1000 in a month. In that case, think about the amount of this deposit.

So what should we do now?

The simple solution is to invest.

Investing is the act of committing money or capital to an enterprise with the expectation of obtaining an additional profit or income. Investments must not have to be about yourself alone, it could be for your children too.

Here are some investment ideas for you to get started-

Stocks & Shares

you can do this by yourself, through an advisor, or via a fund manager. To compare your options orideas, see Halal Investment Comparison engine at different islamic financial websites.


Do it yourself with an Islamic mortgage or go through someone like Yielders. You can also compare Islamic mortgages at Islamic Finance Guru.

Angel Investing

Once you have a bit more money and can afford to take some risks, you can invest in startups.

Having a side initiative

A side initiative here refers to a scalable business and or a business that does not require your constant attention and investment. You can even buy your own small business that is already up-and-running.

Of these, angel investing and having a side business are the most risky. However, the amount of profit from these are more. There are also many areas of investment. You can consult with those who have already benefited by investing. Because, these things are never constant. Occasionally time changes according to demand. So, it would be best to consult an experienced person before investing in any sector.


Although most people do not want to work until they are old, they have no guidelines to decide what to do. Hopefully this short discussion of ours will open the door to their thinking.

Enjoy Ali Huda! Exclusive for your kids.