What Are the Most Powerful Habits You've ACTUALLY Adopted for Huge Results?
01-31-2016, 02:05 AM
Haven't seen this mentioned yet, but learning to cultivate an "early retirement" mindset has been one of the biggest positive shifts that has occurred in my life.
By developing habits that enable you to save a huge chunk of your paycheck (at least 50% if you can manage it, but some guys are putting away upwards of 75-80% of their monthly take-home pay), you can accumulate a decent-to-large sum of money very quickly that you can then put towards investments, building a business, or loans.
As a long-time collector of books, I now save a nice chunk of money by checking out piles of books from the library (and only buying those books that I can re-read again & again) instead. I eat out only about once a month now, don't drink or do drugs, and, until very recently, went without a smartphone.
Ideally, when I get my work schedule completely sorted out, I'd like my part-time cooking job (approx. $800-1000 a month) to cover my living expenses in a third-tier American city. I want to save all of my income from my primary job, while I use the rest of my time to hopefully, finally, build my copywriting business, which has been derailed time and time again by procrastination and general listlessness.
When I've got enough dough in the bank, I'm heading back to Asia to teach ESL, write, and pursue my various anthropological interests.
I know that extreme frugality habits are probably frowned upon on a men's improvement forum, but another huge benefit of adopting such habits is that you don't need millions in assets or in the bank to fund your retirement. In reading the other thread up the page, sure, it'd be nice to live on $80,000/year passive income, but you'd need millions properly invested to achieve that. If you're anywhere outside of the big coastal cities, reaching that number is damn near impossible until you are decidedly middle-aged.
Learn to live (and enjoy living) on $15-$20,000/year invested, though, and finding ways to reach that $150,000-$300,000 nest egg is actually doable somewhat quickly, even if you aren't in a top-earning profession.
By developing habits that enable you to save a huge chunk of your paycheck (at least 50% if you can manage it, but some guys are putting away upwards of 75-80% of their monthly take-home pay), you can accumulate a decent-to-large sum of money very quickly that you can then put towards investments, building a business, or loans.
As a long-time collector of books, I now save a nice chunk of money by checking out piles of books from the library (and only buying those books that I can re-read again & again) instead. I eat out only about once a month now, don't drink or do drugs, and, until very recently, went without a smartphone.
Ideally, when I get my work schedule completely sorted out, I'd like my part-time cooking job (approx. $800-1000 a month) to cover my living expenses in a third-tier American city. I want to save all of my income from my primary job, while I use the rest of my time to hopefully, finally, build my copywriting business, which has been derailed time and time again by procrastination and general listlessness.
When I've got enough dough in the bank, I'm heading back to Asia to teach ESL, write, and pursue my various anthropological interests.
I know that extreme frugality habits are probably frowned upon on a men's improvement forum, but another huge benefit of adopting such habits is that you don't need millions in assets or in the bank to fund your retirement. In reading the other thread up the page, sure, it'd be nice to live on $80,000/year passive income, but you'd need millions properly invested to achieve that. If you're anywhere outside of the big coastal cities, reaching that number is damn near impossible until you are decidedly middle-aged.
Learn to live (and enjoy living) on $15-$20,000/year invested, though, and finding ways to reach that $150,000-$300,000 nest egg is actually doable somewhat quickly, even if you aren't in a top-earning profession.