Comments

  1. great article

    • Great article. I agree. This is the retirement rulebook I’m following:

      1 – Save long enough for big purchases (car, house) so that payments plus all other expenses don’t go over 50% of net monthly income. Save the other 50%
      2 – Never EVER carry a credit card balance (unless it’s an emergency)
      3 – Every time you get a raise, automatically direct the difference to a savings/investment account
      4 – Understand the difference between a want and a need and try to indulge in fewer ‘wants’
      5 – Cut back spending on monthly expenses like cable, internet, insurance, etc.
      6 – Buy healthy foods and avoid excessive eating out. Pack your own lunches
      7 – Focus on accumulating assets. A car is not an asset. Better if they generate cash flow.

  2. Hey Todd!
    Very detailed there, definitely agree with most of these, moonlighting is a big one and it’s likely to be a combination of both reducing expenses (where possible) and increasing income..

    I’m not sure that the whole concept of retirement is even a great idea anyway, sure reduce the hours you work however once you retire would you say you lose purpose?

    Cheers!

    • Jef Miles Yes, I’ve written and spoken quite a bit on the myth of traditional retirement, particularly in the podcasts, and will continue to support alternatives that lead to greater fulfillment. Agreed fully.

      • Financialmentor Jef Miles Awesome to hear, agreed though that it’s definitely a transitional process as most people are still thinking of and focusing on saving for retirement

  3. Great post.  Just goes to show you that there are many ways to succeed financially if you’re committed and have a plan!  Too many people sit back and do nothing…..and then wonder why they stay broke.

    Thanks for the work you do.

    John

  4. This is really a comprehensive post to help boost one’s retirement savings.Thanks for sharing such deeper insights to build up a big retirement corpus.

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