Are you dreaming of trading in your work boots for flip-flops or your office attire for cozy pajamas? Well, you’re in luck! I’m giving you the roadmap to help you make retirement happen on your terms, even before the big 6-0 comes knocking. Say goodbye to the daily grind and hello to leisurely mornings and spontaneous adventures. We’ve got 13 simple, tried-and-true steps that’ll help you write your retirement story exactly the way you want it. So, sit back, relax, and let’s embark on this thrilling journey to early retirement!
Most millionaires are self-made.
Yes, we all “get help” along the way. Dave Ramsey found that only 21% of millionaires received an inheritance; of those, only 16% inherited more than $100,000.
The vast majority don’t inherit our wealth (it’s proven).
Rich people earn it.
- They start a business
- They invest in real estate
- They invent a new product
- They provide value.
Related article: The Inheritance Myth
Company loyalty will make you poor.
Never mind those 3% cost of living raises most companies give their employees.
Want to make *real* money? Start switching companies.
I switched employers every 3 to 4 years and got 20% raises each time. Company loyalty is overrated. If you like money, switch companies.
Building wealth is a habit.
Habits are the things we do without thinking about them. It’s a part of their daily lifestyle.
Rich people’s habits are different.
- Rarely complain
- Think long-term
- Have tangible goals
- Know that time is money
- Diet and exercise regularly
Your significant other will make or break you.
I am where I am today because of the person I married. The right spouse will support you in your goals, not stand in your way. And life is far more satisfying when you go through it with someone you love. It took until I was 33 to find the right person. I never chased women.
Glad I didn’t settle.
VERY FEW rich people are addicted to the news.
The news is designed to make us upset. Angry. Fearful. It’s a business rather than a public service and only makes money when viewers tune in. None of these emotions help us to build wealth. Rich people are too busy getting rich to worry about the day’s manufactured drama.
Making money is easy.
There are 22 million millionaires in the U.S.
Money is everywhere. All you need to do is identify a skill that you have that people want to pay for. *All of us* have marketable skills.
Rich people identify them, use them, and monetize them.
Related article: 9 Tips to Start a Side Hustle Working Full-Time
You don’t need to hustle 24/7.
Burnout doesn’t help get you rich. It makes you *less effective*.
- Poor decisions
- More fatigue
- Less motivation
- Poor sleep
Proper rest and sleep mean you can push harder during the day. Always allow yourself ample time to rest and relax to start the next day refreshed and ready to go.
Growing up poor doesn’t mean you’re screwed.
It might be tougher for you, yes. But that also means your success will *mean more to you*. There are enough “rags to riches” stories these days to prove that growing up poor won’t kill your chances of getting rich. Opportunities for success are all over the place.
Money doesn’t play favorites.
If you live in the 1st world, you have insane access to all kinds of money. It’s everywhere.
Money is everywhere.
- Side hustles
- Business loans
- Gov’t handouts
People want to pay you. You need to let them.
Investing is not gambling.
With gambling, your odds of winning are not good.
Investments, however, have a clear and direct history of making a LOT of people filthy rich over time. All you need to do is invest. Then, the market will take over.
What gets millionaires rich?
- Not their salary
- Not their savings
- Not their upbringing
Related article: Financial automation: The Easy Button to Wealth
You have more opportunities today than anyone in history.
People have never had it easier. There are so many opportunities to advance your skills and build your experience that generations before never had.
- The Internet
- Cell phones
Excuses don’t make people rich. Take advantage of opportunities.
Passions don’t pay the bills.
Generally, your *strengths* pay the bills, not your passions.
- Passions are more creative
- Strengths are more marketable
Follow your strengths. Then pursue your passions without worrying about earning a full-time income from them.
A designer degree won’t make you rich.
The best decision I ever made was going to college. The second best was choosing an inexpensive state school. 99% of the time, your local state school will be good enough.
- Go in-state
- Start at a community college
- Choose a highly marketable degree
You’ll do fine.