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Recent quotes:
Money Changes Your Life
Why would a person spend 1 year of effort to see a perpetual income stream of $10K a year, when one year of effort into another task would lead to $50K into perpetuity. Life becomes more about cash flow now and the future becomes irrelevant so rich people are constantly living in the present moment.
Savings Rates Are Worthless and What Real Net Worth Is
If your line of work is going to cap out at $100K a year… We’d suggest living in a low tax state and decreasing the total cost of living. There is no point in living in a vibrant city if all of your income is going to taxes and rent.
Savings Rates Are Worthless and What Real Net Worth Is
A good and aggressive rule of thumb is this: every year you work should result in a year you do not need to work.
Savings Rates Are Worthless and What Real Net Worth Is
Focus on Annual Spending Multiples: This is the fastest way to see an acceleration in your real net worth. Your real net worth is how many years you can live if you don’t do anything. It does not matter if you’re making $50K or $500K because your real net worth depends on your annual spend. To put some brackets around it, 20x annual spending is rich, 10x annual spending is comfortable and 1x annual spending is an abysmal disaster.
Savings Rates Are Worthless and What Real Net Worth Is
Saving 10% is a Scam: The general rule of thumb is to save 10% of what you earn. What they don’t tell you is this sets you up for a very long and dire path to mediocrity. The math doesn’t help you because you’re constantly increasing your annual spending in the 10% scenario.
Book Introduction – Efficiency
Find One Committed “Friend”: You don’t need more than one. Find a single person who wants to succeed as badly as you do and make sure you keep in contact for at maximum one time per month. That is only twelve times a year (you’re going to be too busy doing work).
If you can find a single person willing to give 80+ hours of effort per week to becoming successful, the chances that you both make it will be magnified. You’ll likely hit different hurdles and a one hour conversation once a month will help jump over those issues each time.
