frayne
Thinks s/he gets paid by the post
As usual during the holiday family gatherings I get questions on how I retired early. There was no silver bullet in my case, just some patience and discipline and common sense. Today I thought I would put down some of the keys that enabled my early retirement, not to mention a wife that had the same mindset as well as having a decent paying job with good medical benefits. I do feel both fortunate and blessed but to impart upon others when asked it is hard to point to any one thing, it was a composite of activities and tasks.
What would be in your ten commandments ?
The Ten Commandments of Financial Freedom
What would be in your ten commandments ?
The Ten Commandments of Financial Freedom
- Thou shall carry no credit card debit.
- Thou shall only carry (life insurance) term life insurance.
- Thou will only go into debt for a home or a car, and if possible not for a car.
- Thou will dollar cost average and capture the match of my employer’s 401K plan.
- Thou will invest into low cost index funds for the long term.
- Thou will maintain a well balanced and diversified portfolio.
- Thou will live within my means (budget) and know where thy hard earned money goes.
- Thou will save and invest between 10-20% of my annual income.
- Thou will not be influenced by the fear and greed that drive the markets.
- Thou will not judge others who choose different paths.