Quit Like a Millionaire by Kristy Shen;Bryce Leung; & Bryce Leung & JL Collins

Author:Kristy Shen;Bryce Leung; & Bryce Leung & JL Collins
Language: eng
Format: epub
Publisher: Penguin Random House LLC
Published: 2019-07-08T16:00:00+00:00

Freedom

This is the Freedom Mind-set. Once survival is no longer at stake, money can buy you freedom—if you know how to save it. Once you get to your target portfolio size using the 4 Percent Rule, you don’t have to work anymore. At this point you are financially independent. You never have to see the inside of a cubicle again.

When I discovered this, my head spun. I had a sneaking suspicion that I was closer to the right side of the chart than to the left. My Scarcity Mind-set had made me obsessed with saving money. I rarely shopped for clothes, and except for that short-lived purse binge, I didn’t own luxury items. We had been living in a small one-bedroom apartment this entire time with the intent of saving for a down payment.

I spent the rest of that night poring over my spreadsheets, which I had created after I started working to track my spending in detail (there’s that Scarcity Mind-set again). Bryce always thought that was overkill, but it meant that I could easily go back through the years and calculate our savings rate. Turns out it was 52 to 78 percent. Based on our combined after-tax salaries starting at $125,000 per year, we had managed to save $500,000 in just six years, which, thank God, we hadn’t put into a house. (To see the year-by-year breakdown of our salaries and savings, go to appendix B.)

That meant when we started working, we had inadvertently been on a path to retire in nine years. Technically, we only had three more to go.

That evening when Bryce came home, I greeted him at the door by telling him:

“Hey, hon? I think we can retire in our thirties.”

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.