South African cricketer AB de Villiers’ retirement from international cricket in 2018 was a huge setback for his fans, but his shocking revelation to Wisden Cricket Monthly this week regarding that decision was both heartbreaking and thought-provoking.

De Villiers, who led the South African charge in the 2015 World Cup, revealed in the interview that a major injury to one of his eyes two years before his retirement forced him to consider that decision. He divulged that he never thought he would take early retirement before that injury.

De Villiers retired at 34, at the peak of his career. The wicket-keeper batsman revealed that he suffered a “detached retina” after his kid accidentally kicked him in the eye, impairing vision in one eye which led to AB de Villiers’ Early Retirement.

His tragic exit from the game also has lessons for others that retirement may come to anyone and anytime at the least expected times. It shows that it is vital to start retirement planning as soon as you begin earning; it may be in small measures initially and ramping it up gradually.

De Villiers’ accident shows that one must be prepared to take drastic steps at short notice, mainly regarding finances. Starting early will give you a leg up in mitigating such situations. So, prepare yourself against such scenarios by laying down a roadmap for savings and investments.

How To Prepare For Early Retirement

Financial planning is critical for mitigating any future insecurity. Hence, your plan must be robust to meet both short- and long-term financial objectives. Additionally, you must hold adequate cash or liquidity in your investment portfolio so you can handle the situations well.

Here are some tips to prepare you for early retirement.

Choose the right investing tools: Determine your short- and long-term goals and estimate the costs before selecting the investment tools. This way, you will know which instruments to choose based on your short- and long-term requirements. Also, remember to include liquid and debt funds and long-term growth equity funds in the portfolio to balance risk and rewards. These days, mutual funds offer many opportunities for short- and long-term needs. For instance, if you are young, the equity component in the portfolio could be higher, and as you grow older, reduce them but increase the debt holdings simultaneously.

Buy a health plan: A good health insurance plan will give you the protection to cover your medical bills during an emergency. Get a health policy early on to take advantage of low premiums. As you age, the health insurance premiums will increase. The insurance coverage will protect you from high medical bills, which you may be unable to afford.

Reduce expenses and increase income: Reduce your expenses as much as possible to save money. Downsize your home, reduce transportation costs, cut back discretionary spending, and do everything else where you can to save more. Likewise, try to increase your income. It could mean getting a higher-paying job, launching a side business, or starting a passive income stream like rental properties or dividend-paying stocks.