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...............What I learned from the book was that I could earn $50k/year and accumulate over a Million before I retired, if I controlled my spending.
If you learned that and were able to apply it, then the book was worth its weight in gold.
We earned really good money for only a few years and then went back to Mr/Mrs America type earnings. Nonetheless, we were able to retire comfortably and on time.
I think you can live a balanced life. I've been able to max out my TSP and Roth accounts while saving, and living a very active life. I get about 4 weeks vacation, and I use that time to travel and pursue my hobbies. I'm headed to the Caribbean next week for vacation. Got a great flight and Airbnb deal.
I have a 7 years old car with no intentions on replacing it. I shop for work clothing at Lands end and social clothing at Nordstrom rack. I don't have cable, and I read a lot.
I think the key is to make $100k but live like you make $70k.
I thought I would be an INTJ person, woman in engineering(when engineering wasn't even cool), but to my surprised I have an E, might be ENTJ, very close or borderline to INTJ. Go figure.
ENTJs and INTJs both tend to earn a lot of money. INTJs tend to be good savers. ENTJs, not so much. Being on the border of those two is a good combination!
I am INTJ and female as well, and I agree, it's a rarity. I would bet most MND types are INTJ males.
Not necessarily. ENTJs tend to earn the most and tend to have better social skills than INTJs. If they can control their spending, they can do quite well.
If you learned that and were able to apply it, then the book was worth its weight in gold.
We earned really good money for only a few years and then went back to Mr/Mrs America type earnings. Nonetheless, we were able to retire comfortably and on time.
Yeah, I agree. I don't earn a lot but the portfolio is on track for retirement before 65. I could semi-retire now if I moved somewhere cheaper.
I think the key is to make $100k but live like you make $70k.
You're getting warm. The key is savings rate as a % of after tax income. If you save 30% of your income, you're on track for an early retirement, but not a super early one.
Step that savings rate up to 50% (after tax), and, if you're staring from 0, you can retire in 15-20 years, depending on investment returns.
Sure wish I had MMM available when I was just starting out. I was a good saver but never thought much about retirement beyond doing auto contributions to 401Ks and IRA accounts. I saved in addition to those, but didn't realize I needed to also invest my savings and not just keep them in savings accounts and CDs, until about 5 years ago. Since then I've really ramped things up, but I would have been able to retire years before if only I knew then what I know now and how vital it is to have all one's money working, not just retirement monies.
Sure wish I had MMM available when I was just starting out. I was a good saver but never thought much about retirement beyond doing auto contributions to 401Ks and IRA accounts. I saved in addition to those, but didn't realize I needed to also invest my savings and not just keep them in savings accounts and CDs, until about 5 years ago. Since then I've really ramped things up, but I would have been able to retire years before if only I knew then what I know now and how vital it is to have all one's money working, not just retirement monies.
I wish the same. For me, I think I would have been more focused on frugality when I was young. I would have been less obsessed with finding the absolute best mutual fund and just focused on earning and saving/investing.
I am sure I could have cut 2-7 years off my financial independence date if I'd been more focused and invested better (i.e. not switched around from fund to fund).
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