So here goes.
To help you reach early retirement...however you define "early retirement" I can recommend the following five concrete actions.
- Buy your own home and ensure that you can have the mortgage paid off before your early retirement date.
- Monitor your cash flow by whatever method works for you. See my earlier post on this one for the easiest way I know how to do this.
- Don't let your job be your entire world...view it as just a means to an end- just a way to generate cash flow. Do an excellent job while your there, but be able to walk away from it.
- Drive a used car to avoid the heavy depreciation costs during the first few years of new car ownership.
- Always live "below your means". Save by paying yourself first and continually look for ways to enjoy life while spending less.