Don’t waste your time; save smart instead

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For many of us these days, saving a million dollars is no different than mapping a route via Google Maps, arriving at your destination, then turning around and taking the same trip — consecutively — another two or three times.

Put another way; it’s like mapping the best route, then purposely taking tangent turns that make for a longer and more arduous process to get where you want to go.

If you can make things easier on yourself, why not do it?

As I wrote in my first two Medium articles and beyond, you don’t necessarily need a million dollars…


Manage your money for your reality, not some fleeting fantasy

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I have spent a lot of time recently writing about exactly how I execute my cash-focused personal finance strategy.

By the end of the article, I hope I’ll convert at least a handful of you closer to my side. Because there’s definitely a move happening away from traditional retirement and closer to a strategy that focuses on work that endures and ways of managing money that better align with this world.

Something more realistic. Not the fantasy that you’ll wake up with more than a million bucks at age 65 and play a round of golf every day before taking…


My fast-tracked journey to retirement in my 30s

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Retiring less than 18 months after discovering the concept of financial independence is pretty extreme. But that’s exactly what I did.

I first learned about FIRE from a BBC radio program in March 2019, and I reached financial freedom in October 2020.

Since writing about my experience in Making of a Millionaire, a lot of people have contacted me to ask how I did it so quickly.

So, here are the exact 9 steps that took me to financial freedom in such a short time.

Step 1. WTF is FIRE?

For the first couple of months after hearing that radio program, I took no steps…


The good, the bad, and the downright weirdness of it all

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In October 2020, I officially retired from work and life as I knew it. I was 35.

Through a series of largely intentional — but some fortuitous — events, I now have enough passive income to oversee all my basic living costs forever.

This is not a life I thought I would lead. Growing up, I thought early retirement was reserved for the rich, and ‘early’ meant 55. I grew up poor and just assumed I’d be working for money forever.

But if you’re open to it, life sometimes has a funny habit of taking you down avenues you never…


Making decisions today for the very long term

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The term first-generation wealth builder refers to someone who does not have any financial inheritance and builds wealth, starting from $0, or even less in some cases.

For this article, I will add to the definition of a first-generation wealth builder to include someone who is building wealth to support themselves, their family, and future generations of their family.

In 2013, I finished graduate-school with $50,000 in debt, $600 in the bank, and a mission to begin my journey as a first-generation wealth builder.

Every major financial decision I’ve made since that point has had the express purpose of accomplishing…


Investing

Here’s why you should invest like a robot

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Your fear of a market crash will do far more damage to your portfolio than an actual market crash.

When the stock market crashes, it’s often accompanied by a very scary story in the real economy, like a global pandemic (2020) or a financial crisis (2008.) When people get scared, they often make very bad decisions with their money.

Fear is one of the great destroyers of wealth.

Do you know who doesn't make fear-driven investment decisions?

Robots.

That’s why I was not surprised to read new research that shows retirement savers who use a robo-advisor were less likely to…


Here’s how they can win it

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Young people today need to be a lot smarter with money than past generations.

Credit Suisse's 2021 report on global investment returns paint a bleak picture for the investment prospects of young people today;

Young investors today can expect to earn less than half the annual return that baby boomers enjoyed during their careers.

In a world of record-low interest rates and stretched equity valuations, we can’t expect the same level of investment returns that we have experienced over the past decade to continue in the near future.

In this article, I discuss what the low return environment means for…


After you find the right work for your lifestyle, managing your money gets pretty easy

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I like finding myself in places or situations where it feels like I’m doing something illegal, even if I’m not.

Maybe it’s the child in me. I just love turning to the person I’m with and saying it feels like we’re doing something illegal. It’s even better when it is sort of illegal and the person you’re with is right there with you. They’re not like we shouldn’t be doing this. Instead, they encourage the unfolding of events.

I look for a similar synergy in my work meets money life.

Sometimes when I look at how I manage my personal…


“Financial freedom” is a skill, not an amount to be achieved.

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The way that people build true wealth is they see money differently than everyone else. They don’t see it as something they “have.” They see it as something they deploy and use to build and grow from there.

For this reason, I am a true believer that it does not matter how much money you currently have, but what you are doing with it.

I know many people who earn more money than me, but they are full of debt; they cannot buy anything they want, they cannot save a single dollar every month, or even invest. …


Here’s their formula to living — and living well — at 73 and 86 years old

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It’s quite comical, actually.

The two people in the world who probably know (and care) the least about the stock market bucking the trend of old ass people living in relative squalor because they didn’t effectively position themselves for retirement.

As I look to bolster my case for banishing the broken framework of traditional retirement from our personal finance lexicon, I realized my parents provide the best illustration and most convincing anecdote.

With a couple important caveats and exceptions, my parents embody the strategies I advocate around managing your money in a way that renders formal retirement with a million…

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