4 ms·
Do you mind sharing anymore details of your plan?
by davty 12y ago
Do you mind sharing anymore details of your plan?
- aaren 12y agoProbably something like this: http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/ http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-... The basic idea is that if you can save a fraction f of your income for the next n years, then you can live work free for the next n*f/(1-f) years after that. You do this by changing your lifestyle such that f is big and you enjoy your life. Then when you stop getting paid, you can happily carry on like that. Obviously you should increase your income as well! 7 years of work at 90% savings = 63 years worth of cash. Once you're saved a reasonable chunk of money (~$500k) it starts to look after itself (if you invest sensibly) and you can make it last indefinitely.
- pyrrhotech 12y agoyea something like that. I love MMM. I'm pretty frugal but I don't save 90% though. However, I make a good bit, have already been working a few years so have a nice base. I'm targeting the $1.5 million range, then move somewhere cheaper and live like a king.