It's been over four years since I started My Wealth Builder. As I think about topics to write , I often remember, "I've written about that before," and decide to find a new topic. However, since many principles of personal finance are timeless, I want to include them in a recent post on My Wealth Builder. Therefore, I have started a series called "Timeless Articles from the Archives" which highlights posts from the same week in 2007-2010.
2007
My House Payment As A Percent of Salary - We were typically in the 20-25% range.
2008
How We Think About Our House Financially - We do not take any financial risks with our house. Here's our financial do's and don'ts for our house
Manage Retirement Withdrawals Carefully - A good approach is to withdraw less in down markets and more in up markets. Needless to say, we have been withdrawing less for the since 2007.
Redistribution Of Wealth - Here's why government programs to redistribute wealth won't deliver the desired effect.
2009
Who's to Blame for Losses in our Retirement Savings? - The majority of the blame rests with us, because we, and we alone, are responsible for our financial well being.
Next Generation Bailout Acronyms - Here's what I really think about the bailout and stimulus programs :-)
2010
None
To me, the content of these posts are still relevant today and worth reading again.
For more on The Practice of Personal Finance, check back every Wednesday for a new segment.
This is not financial, retirement, or saving advice. Please consult a professional advisor.
Copyright © 2011 Achievement Catalyst, LLC
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1 week ago
2 comments:
Honestly. Life is a collection of experiences.
The best way to save - have two-three jobs, do not go out or on vacation. Do not have anything on your mind but job and savings.
Sure you can retire at 40+. Even better - you won't need much, as during your life you did not do much.
Is it what the life is about?
I am not advocating it, as a life style. But when I analysed our family expenditure over three years. I just got some information and we decided to freeze them. Not cut, just try to control ourselves.
Otherwise what is the point? A penny for your thought.
@ Financial Independence,
Per your request, here are my thoughts:
To me, life is about making choices and living with the results of those choices :-)
As for saving, I believe the best way is to "pay myself first," and then spend the remaining amount on whatever I want. That includes vacations and eating out :-) Perhaps, I was lucky to have a job that allowed us to do that.
The scenario you shared is one way to save and retire early. However, the approach is not very inspiring :-( (I would not want to live the scenario you shared.)Fortunately, there are other more appealing approaches to saving and retiring early.
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