How many times have you returned from a vacation and dreaded going back to work the next day? It sucks having to wait another 25 to 30 years for retirement, right? Not so fast.

If you’re willing to be disciplined with your finances and make some sacrifices, with the help of a financial advisor, you could potentially retire in your 40s. Shut the front door! Right?!

“Retiring early requires careful planning, but with the right plan and discipline, you can retire in your 40s and enjoy the fruits of your labor,” says Tim Doman, investment analyst and CEO of Top Mobile Banks.  

Here are five tips from financial experts to help you start planning for that early retirement.

1. Set a financial goal

“The first step to retiring in your 40s is to set a financial goal,” says Doman. “Determine how much money you will need to retire comfortably and create a plan to reach that goal.”

Part of determining how much money you’ll need is defining what, exactly, retirement means to you, notes Percy Grunwald, personal finance expert and co-founder of Compare Banks. Grunwald suggests asking yourself these questions: What kind of lifestyle do you want to lead? What kind of expenses will you have in retirement? “Answering these questions will help determine how much money you need to save,” he says.

2. Live below your means

As Grunwald points out, the less you spend, the more you can save. So “take a hard look at your expenses and find ways to cut back,” he suggests.

Doman adds that living below your means is one of the most critical factors in retiring in your 40s. “This means you need to be disciplined with your spending and save as much money as possible,” he says. “Consider downsizing your home, driving a used car, and cutting back on unnecessary expenses.”

3. Invest wisely 

“Investing wisely is essential to retire in your 40s,” says Doman. “Consider investing in stocks, mutual funds, and real estate.”

Of course, while investing can help grow your savings faster, know that it also carries risks, says Grunwald. That’s where working with a financial advisor can be helpful. “Work with a financial advisor to develop a diversified investment portfolio that aligns with your goals and risk tolerance,” he says.

4. Maximize your income and savings

“To retire in your 40s, you must save a significant amount of money,” says Grunwald. One thing you can do is maximize your contributions to your retirement accounts, such as 401(k)s, IRAs, and Roth IRAs, he explains. You can also think about pursuing passive income streams like rental properties or dividend-paying stocks, says Grunwald.

“Consider taking on a side hustle or starting a business to supplement your income,” adds Doman. “Look for opportunities to advance in your current job or consider changing careers if it means higher pay.”

And again, working with a financial planner to create a savings plan can help you reach your retirement goals, says Grunwald.

5. Stay debt-free and disciplined

As both experts we spoke to agreed, staying debt-free is key if you’re looking to retire in your 40s. (We know, it’s way easier said than done!) “Avoid taking on unnecessary debt and pay off any existing debt immediately,” says Doman. “Consider creating a debt repayment plan and stick to it.”

The bottom line on retiring in your 40s

“Retiring in your 40s requires high discipline and commitment to your goals,” says Grunwald. “Stay focused on your savings plan and avoid making impulsive purchases that could derail your progress.”

Does all of this sound easy? Not exactly. But is it doable with some effort? Yes!