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Sushi boy catch a buck1/27/2024 So to go from “broke” to “rich enough to retire early” in just ten years, each person has to make 40 successful ten dollar decisions each week. Now each one has to save only $398 a week. Suppose you’ve got two income earners working together. “But how the hell can anybody save almost $800 per week!?” Maybe more than twice as much as you need, but since we do conservative calculations here at MMM, let’s roll with that number. And to be more accurate, this money won’t be just sitting around – it will be 600,000 little employees working for you tirelessly in the background, producing thousands of dollars per month of passive income.Īs you can see in the footnote section below, that is more than enough to start a nice Early Retirement, especially if your house is paid off. If you could somehow $796 per week, and each week invest it to get a rather typical 7% compounded investment return after inflation, after just ten years, you’ll have about $600,000 sitting in your account. So how can we get from ten dollar bills to six-figure sums required for early retirement? Think of it this way: Each Ten is a critical brick in the Early Retirement castle you are building. Ten dollar bills are not just food stamps or amusement park coupons that you fork over by the dozen to get restaurant meals, smokes, strippers, drinks, tourist attraction admission, and assorted domestic services. Or enough natural gas to provide hot water for showers and dishwashing for a family for several weeks. WEEKS worth of regular driving if you don’t have a ridiculous commute. Or enough gasoline to drive over 200 miles in a good car. But even today, ten dollars will still buy about 9 pounds of delicious, kickass, nutritious, muscle-fueling rolled oats – still a solid staple food for many healthy millionaires, despite the fact that we can easily afford. Then I would excitedly wait a week so the grass would grow and I could repeat this process to earn another five bucks. For this afternoon of sweaty torture, I would earn five bucks. When I was eleven years old, I had to cut my parents’ enormous and hilly half acre lawn by pushing a fume-spewing 21-inch Lawn Boy for two hours. The solution to this is a change of mindset: It’s time to start getting excited about ten bucks again. And we don’t become millionaires very quickly at all. It drives many to fantasize about lottery winnings, since that’s the only way to become a millionaire if your job title doesn’t include CEO, NFL or Notorious B.I.G., right?Īnd meanwhile, we buy $9.75 bottles of Kirin at the sushi restaurant and $12.00 movie tickets to see the newest Pixar movie with the kids in the movie theatre and pour $70.00 of gasoline into the family SUV so we can burn it up every couple of weeks running around town for relatively short trips. It is this perception of “small” versus “large” amounts of money that is the downfall of most of us. My friend had a good question, of course. Yet your blog talks mostly about small things like saving $70 a month on electricity or gasoline or coffee.Īren’t these two different universes of savings that don’t even relate?” “I understand now that even a family can retire on well under a million dollars*, but that is still a lot of money.
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