Dreaming of year-round cottage life and jetting off to a tropical island without having to clear it with the boss first? It doesn’t have to be just a dream. More and more ladies are getting savvy about their savings and looking to retire (or semi-retire) at a younger age.

According to 2006 statistics from the Organisation for Economic Co-operation and Development (OECD), the average life expectancy for a female Canadian at birth is 82.6 years of age. If you retire at 65, that’s at least 17.6 years you’ll need to support yourself without working. If you’re aiming to retire earlier than that, say at 50, then tack on another 15 years. Now you’re looking at a minimum of 32.6 years of supporting yourself without a steady income.

Here are six golden rules to follow that’ll get you saving and out of the daily 9-to-5 grind sooner than later.

Golden Rule #1: Budget, budget, budget… and then budget some more.
Setting a budget will provide you with enhanced understanding of the trade-offs involved in deciding to spend or save your income. After living with a set budget for six months, go over each item and revise accordingly. Improve upon the previous budget by making spending and saving choices that are realistic rather than idealistic.

Golden Rule #2: Stop living paycheque-to-paycheque.
We often become more dependent on our paycheques as our pay increases. Why? Because as our salaries go up, it’s a natural tendency to use each raise as a justification to spend more. The next time you get a pay increase, try your best to live within (or even slightly below) your means and put the rest away in your investment portfolio or savings account. If you want to maintain, or even increase, your quality of life during your golden years, you’ll have to save large percentages of your regular paycheque starting right now.

Golden Rule #3: Save beyond what you think you can.
Conventional advice tells you to save 10 per cent of your income. The end result of saving 10 per cent for retirement is hardly exciting since you’ll likely only have enough to shelter, feed and clothe you—and that’s it. By saving more, say 20 per cent, you won’t just be covering your basic needs but you’ll also be opening up opportunities to enjoy the finer things in life such as extended travel, a summer cottage, a luxury car, whatever your golden heart desires. It’s not much harder to save 20 per cent than it is to save 10 per cent. Many savers find that once they see their nest egg growing at a faster rate, their desire to put more away becomes a strong motivator. With determination and a willingness on your part to live within (or even slightly below) your means in your present lifestyle, your future financial comfort zone can be realized.