Believe it or not, building wealth for a secure, early retirement is actually not very difficult … in theory.
Here are four major steps:
1. Regular saving from 13 years old
2. Invest early (start from age 19)
3. Live below your mean (Earn more, save more and spend less)
4. Expand your mean (Learn how to reduce your investment risk not increase rate of return)
Once you achieve your retirement goal, what you need to do is:
1. Relocation: Live in the B grade location (preferably so you can reduce your living expense)
2. Find the life purpose and turn into the secondary location free income such as website, blog, youtube. But you don’t need much money and no need to spend too much time on it
3. No children ideally (this is very important, one children defer your retirement plan 12 years ,generally speaking)
The challenge isn’t in knowledge, but in translating that knowledge into meaningful results.
Why? Building wealth requires you overcome the following two hurdles:
You must translate the wealth building principles into actionable rules that will take you to your goal.
Then, you must actually live according to those rules.
To know and not do is to not know at all.
This is critical. Most people fail to succeed financially because the rules are easy to understand but surprisingly hard to live by.
Living them is the key… and also the problem.
Here are four major steps:
1. Regular saving from 13 years old
2. Invest early (start from age 19)
3. Live below your mean (Earn more, save more and spend less)
4. Expand your mean (Learn how to reduce your investment risk not increase rate of return)
Once you achieve your retirement goal, what you need to do is:
1. Relocation: Live in the B grade location (preferably so you can reduce your living expense)
2. Find the life purpose and turn into the secondary location free income such as website, blog, youtube. But you don’t need much money and no need to spend too much time on it
3. No children ideally (this is very important, one children defer your retirement plan 12 years ,generally speaking)
The challenge isn’t in knowledge, but in translating that knowledge into meaningful results.
Why? Building wealth requires you overcome the following two hurdles:
You must translate the wealth building principles into actionable rules that will take you to your goal.
Then, you must actually live according to those rules.
To know and not do is to not know at all.
This is critical. Most people fail to succeed financially because the rules are easy to understand but surprisingly hard to live by.
Living them is the key… and also the problem.
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