This is a "get rich quick" book with a promise. It really is
possible to retire early, even though todays money experts
would have you believe there are no quick schemes that work,
you must invest over the long term, and you will need an
unbelievably huge amount saved when you finally do retire.
I've proven them wrong. I didn't follow conventional wisdom,
and I have achieved financial freedom. My promise is to show
how you can too.
The average person will spend more than 30 years working
before retirement even becomes a possibility. I earned a
mediocre wage and made financial mistakes along the way, yet
I retired in half that time. Depending on your own circumstances,
you could retire much sooner than I did. But regardless
of timing, to become financially free, all you need to do is
follow my example. I've always questioned conventional wisdom. How many
financial advisors do you know who are comfortably retired
in their mid-3 os? Are they retired, rich, and young? To me,
"retired" means having all the time in the world and the
freedom to choose how to spend it. "Rich" means being free
from debt, having all living expenses covered, continually satisfying
desires, and enjoying luxuries to the fullest. "Quick" is
the freedom to retire young. All this is not only possible but
also sustainable. I should know — I've done it.
You probably wouldn't notice me walking down the street,
and you wouldn't pick me out in a crowd. Just like the
majority of the millionaires in North America (according to
The Millionaire Next Door), I look like every other ordinary
person in your neighbourhood, probably a little happier but
a perfectly average woman — except that I'm retired, young,
and rich.
I spend my time however I choose. If I want to sleep in,
I do. If I don't want to go out in the cold or rain, I don't.
There really isn't much that can't wait until another day.
Usually, I get up around 9 a.m. unless I was up late the night
before finishing a gripping novel or watching a video into the
early hours. I have a breakfast of home-baked cinnamon bread,
freshly squeezed juice, and tea out on the patio, weather permitting.
Otherwise, it's breakfast on a white wicker tray in bed
to enjoy with the newspaper, a magazine, or a television show.
After breakfast and a leisurely shower, I dress to suit myself.
Then I consider what I feel like doing that morning — perhaps
looking over my investment portfolio, possibly tending
my garden, maybe going for a hike down the ravine or taking
a stroll to the library. Then I may meet family or friends for
lunch, and in the afternoon I may delve into a project of
personal interest. Later, an art class, yoga, ballet, or aerobic
exercise provides a nice break. I also choose "work" as a part
of most days, but not for the income. It can be an enjoyable
hobby, a new project that could generate some cash, or helping
out as a volunteer. Working for fun, for personal satisfaction,
to socialize, or to help others isn't really "work" at all. My
evenings and weekends are filled with trips to antique markets
and auctions, watching amateur theatre productions,
attending investment seminars, meeting with the area garden
club, or even just reading and puttering around the house.
My neighbours watched the gradual renovations made
recently to my Tudor-style house, and along with the congenial
nods of approval I could see the curiosity in their eyes.
They seemed to ponder my situation: / was always at home.
I was young and on my own. Didn't I have a job to go to? How
could I be making all these home improvements without one?
Didn't I need a job? I could only imagine their speculations.
Then one Saturday morning, as I was re-sealing my driveway,
a neighbourhood couple stopped to admire my efforts
and chat. Inevitably, they asked the question that finds its way
into polite conversation: "Where do you work?" I still have
trouble answering that question. "I don't work" has all the
wrong connotations, and it's untrue — I work, but only within
my areas of personal interest. "I don't need to work" sounds
arrogant. It reminds me of a snobbish character in the short
story Any Reasonable Offer by Kurt Vonnegut, When asked
what he does for a living, the man answers, "Do? Why, whatever
amuses me. . . . " Instead, I answer, "Actually, I'm retired."
The response is usually surprised silence followed by "Oh, it
must be nice!" And it is. Really nice. I think everybody should
retire young, and I'm going to show you how.
I believe almost anyone can do what I've done. It doesn't
matter whether you're just starting out, single, or married with
or without children, and it doesn't even matter how much you
earn. There are benefits and drawbacks in every situation. What
you do with what you have is all that really counts.
Early retirement doesn't necessarily mean never working
again; rather, it means being able to freely choose the amount,
if any, and type of work to pursue. During my retirement,
I've been approached a few times to fill temporary vacancies
as a favour, and I've been happy to oblige. The jobs have
always been new and different. When the head librarian at
my neighbourhood branch asked me if I'd be interested in
working a few hours a week, I gladly joined the library staff.
Although initially I worked 12 hours a week, I was able to
reduce the number of hours to just Monday mornings when
I wanted more time to spend on a hobby. What made each
job fun, however, is that it wasn't a necessity. Whether you
want to have any kind of job or not will depend on your own
definition of retirement.
In writing this book, I'm pleased to prove by example that
early retirement is possible for almost anyone. I also promise
to present my formula for success in an enjoyable and concise
manner. Since I've found many personal finance books to
be heavy reading, I tried to create a money book in a "short
notes" style, condensing concepts to their simplest forms. A
fast and to-the-point read is no less educational or useful than
one padded with extraneous information. I'll show you how
I became financially independent simply, and you'll learn how
to apply the same principles to your set of circumstances for
your own ultimate success.
This book is for all those who wonder how I could possibly
have done it. It's also for everyone who seriously thinks
there must be some explanation other than careful planning
and determined action for my early retirement. As well, it's
for those believers who know there's a way; they just need to
be shown how.
My freedom was not financed by a winning lottery ticket,
inheritance, gift, government subsidy, or financial settlement of
any kind. Actually, I should be among the "working poor,"
slaving away at a low-paying job, living in a low-rent apartment.
I've never had the wedding gifts (down payment on a
house, cash, new appliances and/or furniture) that many couples
receive. Likewise, there hasn't been any help from in-laws.
My parents didn't give me the money. I never had the benefit
of a two-income household (two people really can live more
cheaply than one!), and, as a single employed person, I have
had few tax breaks. Over my 15-year working life, I averaged a
gross salary of about $20,000 a year. And while I've always lived
on my own, living poorly has never been my idea of financial
freedom. I'm not a "back to the land" person either, choosing
voluntary simplicity over central air conditioning, a dishwasher,
or packaged food. I live in the city, and I like to live well.
A middle-class lifestyle complete with luxuries is how I
have chosen to live. Travelling by Concorde, acquiring antiques,
and enjoying the arts are a part of it. I also spend time on
various other hobbies, I volunteer, and I visit more often now
with family and friends. I vacation as I please. I enjoy the picturesque
walk to the shops and library along the upscale
avenues of manicured lawns and charming homes where I live.
I take in the local sights, and I take it easy.
So how did I manage to own a home with all the "toys"
and enjoy a comfortable retirement lifestyle when most people
my age aren't even at the starting gate?
I have not been a stockbroker, accountant, or financial
advisor. I did not start out with any special knowledge, but I
believe my childhood environment provided the basic skills,
and my interest in personal finance books contributed as well.
I've found both good and bad advice and have made my share
of mistakes. But those experiences have paved the road to
financial independence. Even after some money blunders, I
still retired very early — and so can you.
You will need perseverance. I'm an impatient person and
stubbornly go after what I want until I find a way to get it.
While this isn't one of the best qualities for building a happy
relationship, it has helped me in my quest for a quick and
easy path to financial freedom. Throughout the years, my goal
was always with me. Determination was a necessary component
of my success, along with knowing what to do and how
to do it. For you, it should be easier, and could take less time,
since this book not only shows the route to early retirement
but also points out the roadblocks that can occur and how to
detour around them. I've already done the thinking and
rethinking, the mistakes and learning, and the trying and practising.
All you have to do is read this book and put the
principles to work.
I present the method in two parts, showing first what you
need to do and then how you actually do it. The first part,
"The Plan," introduces the basic financial concepts I learned
when I was young and then the steps I took as an adult that
led to my financial independence. The second part, "The
Procedure," provides the means for putting my plan into action
and moulding it to your own situation, with practical suggestions
and techniques.
If you're single, earn a low income (my average salary for
the first three years was $15,000), and stay single over the next
10-15 years, you have the potential to retire at the end of that
time. I'm living proof. Depending on your circumstances, if
you're not just starting out, or you're earning a much better
income, or you're married (with or without children), you
could also retire within that time frame or sooner. You may
already have your household furnishings and appliances, car,
mortgage partly paid off, or even some investments and retirement
funds saved. Your children may be young, entering
university, or leaving home, or you may be childless. It doesn't
matter. Every situation will be different, including income and
debt levels. These factors will not keep you from ultimately
succeeding, but how you choose to deal with them will affect
the timing of your retirement. If you want financial freedom,
it's entirely up to you. If you'd rather tend your garden than
look after your customers, you can. If you'd rather lounge in
your backyard than doze in a traffic jam, you can. If you'd
rather go hiking than sit through a business meeting, you can.
You can reach financial independence without feeling
deprived, just as I have. But it takes conscious living. You may
have to adopt a new attitude toward your use of money and
exchange some bad habits for good ones. You may need to
make some decisions about your lifestyle and prioritize the
things you truly value in life.
Simply put, you get rich quick by accelerating the accumulation
of assets and the elimination of liabilities. To continue
indulging in your dreams, you keep building your asset base,
even after you've retired. Be encouraged, though, that doing
so will be easier if you follow the guidelines in this book.
Other money books have you performing long calculations
with schedules that resemble tax returns (as if you'd really want
to do that in your spare time), and by filling out questionnaires,
charts, and budgets you'll supposedly benefit monetarily
sometime in the future. Then there are books that assume you
already have a sizeable amount of cash and only need advice
on how to invest it. Still others are dissertations on the psychology
of money. The books identify, label, analyse, and
discuss all the possible behaviours that characterize an individual's
view of money. How this approach gets people off the
couch and on their way to better finances I don't know. It
wouldn't work for me.
So get ready for an easy read — simple and fast ways to
stop working arid start living. Immediately after putting this
book to work, you'll feel freer, more secure, more retired! If
you take action and persevere, you won't have to suffer the
seemingly interminable wait until conventional retirement, and
you'll avoid the common, shocked response "I'll have to save
how much?" While other books offer difficult, plodding
methods to achieve financial security, this book offers the techniques
simply, with as little hassle or drudgery as possible.
Plain and simple. Faster and easier. So what are you waiting
for?
possible to retire early, even though todays money experts
would have you believe there are no quick schemes that work,
you must invest over the long term, and you will need an
unbelievably huge amount saved when you finally do retire.
I've proven them wrong. I didn't follow conventional wisdom,
and I have achieved financial freedom. My promise is to show
how you can too.
The average person will spend more than 30 years working
before retirement even becomes a possibility. I earned a
mediocre wage and made financial mistakes along the way, yet
I retired in half that time. Depending on your own circumstances,
you could retire much sooner than I did. But regardless
of timing, to become financially free, all you need to do is
follow my example. I've always questioned conventional wisdom. How many
financial advisors do you know who are comfortably retired
in their mid-3 os? Are they retired, rich, and young? To me,
"retired" means having all the time in the world and the
freedom to choose how to spend it. "Rich" means being free
from debt, having all living expenses covered, continually satisfying
desires, and enjoying luxuries to the fullest. "Quick" is
the freedom to retire young. All this is not only possible but
also sustainable. I should know — I've done it.
You probably wouldn't notice me walking down the street,
and you wouldn't pick me out in a crowd. Just like the
majority of the millionaires in North America (according to
The Millionaire Next Door), I look like every other ordinary
person in your neighbourhood, probably a little happier but
a perfectly average woman — except that I'm retired, young,
and rich.
I spend my time however I choose. If I want to sleep in,
I do. If I don't want to go out in the cold or rain, I don't.
There really isn't much that can't wait until another day.
Usually, I get up around 9 a.m. unless I was up late the night
before finishing a gripping novel or watching a video into the
early hours. I have a breakfast of home-baked cinnamon bread,
freshly squeezed juice, and tea out on the patio, weather permitting.
Otherwise, it's breakfast on a white wicker tray in bed
to enjoy with the newspaper, a magazine, or a television show.
After breakfast and a leisurely shower, I dress to suit myself.
Then I consider what I feel like doing that morning — perhaps
looking over my investment portfolio, possibly tending
my garden, maybe going for a hike down the ravine or taking
a stroll to the library. Then I may meet family or friends for
lunch, and in the afternoon I may delve into a project of
personal interest. Later, an art class, yoga, ballet, or aerobic
exercise provides a nice break. I also choose "work" as a part
of most days, but not for the income. It can be an enjoyable
hobby, a new project that could generate some cash, or helping
out as a volunteer. Working for fun, for personal satisfaction,
to socialize, or to help others isn't really "work" at all. My
evenings and weekends are filled with trips to antique markets
and auctions, watching amateur theatre productions,
attending investment seminars, meeting with the area garden
club, or even just reading and puttering around the house.
My neighbours watched the gradual renovations made
recently to my Tudor-style house, and along with the congenial
nods of approval I could see the curiosity in their eyes.
They seemed to ponder my situation: / was always at home.
I was young and on my own. Didn't I have a job to go to? How
could I be making all these home improvements without one?
Didn't I need a job? I could only imagine their speculations.
Then one Saturday morning, as I was re-sealing my driveway,
a neighbourhood couple stopped to admire my efforts
and chat. Inevitably, they asked the question that finds its way
into polite conversation: "Where do you work?" I still have
trouble answering that question. "I don't work" has all the
wrong connotations, and it's untrue — I work, but only within
my areas of personal interest. "I don't need to work" sounds
arrogant. It reminds me of a snobbish character in the short
story Any Reasonable Offer by Kurt Vonnegut, When asked
what he does for a living, the man answers, "Do? Why, whatever
amuses me. . . . " Instead, I answer, "Actually, I'm retired."
The response is usually surprised silence followed by "Oh, it
must be nice!" And it is. Really nice. I think everybody should
retire young, and I'm going to show you how.
I believe almost anyone can do what I've done. It doesn't
matter whether you're just starting out, single, or married with
or without children, and it doesn't even matter how much you
earn. There are benefits and drawbacks in every situation. What
you do with what you have is all that really counts.
Early retirement doesn't necessarily mean never working
again; rather, it means being able to freely choose the amount,
if any, and type of work to pursue. During my retirement,
I've been approached a few times to fill temporary vacancies
as a favour, and I've been happy to oblige. The jobs have
always been new and different. When the head librarian at
my neighbourhood branch asked me if I'd be interested in
working a few hours a week, I gladly joined the library staff.
Although initially I worked 12 hours a week, I was able to
reduce the number of hours to just Monday mornings when
I wanted more time to spend on a hobby. What made each
job fun, however, is that it wasn't a necessity. Whether you
want to have any kind of job or not will depend on your own
definition of retirement.
In writing this book, I'm pleased to prove by example that
early retirement is possible for almost anyone. I also promise
to present my formula for success in an enjoyable and concise
manner. Since I've found many personal finance books to
be heavy reading, I tried to create a money book in a "short
notes" style, condensing concepts to their simplest forms. A
fast and to-the-point read is no less educational or useful than
one padded with extraneous information. I'll show you how
I became financially independent simply, and you'll learn how
to apply the same principles to your set of circumstances for
your own ultimate success.
This book is for all those who wonder how I could possibly
have done it. It's also for everyone who seriously thinks
there must be some explanation other than careful planning
and determined action for my early retirement. As well, it's
for those believers who know there's a way; they just need to
be shown how.
My freedom was not financed by a winning lottery ticket,
inheritance, gift, government subsidy, or financial settlement of
any kind. Actually, I should be among the "working poor,"
slaving away at a low-paying job, living in a low-rent apartment.
I've never had the wedding gifts (down payment on a
house, cash, new appliances and/or furniture) that many couples
receive. Likewise, there hasn't been any help from in-laws.
My parents didn't give me the money. I never had the benefit
of a two-income household (two people really can live more
cheaply than one!), and, as a single employed person, I have
had few tax breaks. Over my 15-year working life, I averaged a
gross salary of about $20,000 a year. And while I've always lived
on my own, living poorly has never been my idea of financial
freedom. I'm not a "back to the land" person either, choosing
voluntary simplicity over central air conditioning, a dishwasher,
or packaged food. I live in the city, and I like to live well.
A middle-class lifestyle complete with luxuries is how I
have chosen to live. Travelling by Concorde, acquiring antiques,
and enjoying the arts are a part of it. I also spend time on
various other hobbies, I volunteer, and I visit more often now
with family and friends. I vacation as I please. I enjoy the picturesque
walk to the shops and library along the upscale
avenues of manicured lawns and charming homes where I live.
I take in the local sights, and I take it easy.
So how did I manage to own a home with all the "toys"
and enjoy a comfortable retirement lifestyle when most people
my age aren't even at the starting gate?
I have not been a stockbroker, accountant, or financial
advisor. I did not start out with any special knowledge, but I
believe my childhood environment provided the basic skills,
and my interest in personal finance books contributed as well.
I've found both good and bad advice and have made my share
of mistakes. But those experiences have paved the road to
financial independence. Even after some money blunders, I
still retired very early — and so can you.
You will need perseverance. I'm an impatient person and
stubbornly go after what I want until I find a way to get it.
While this isn't one of the best qualities for building a happy
relationship, it has helped me in my quest for a quick and
easy path to financial freedom. Throughout the years, my goal
was always with me. Determination was a necessary component
of my success, along with knowing what to do and how
to do it. For you, it should be easier, and could take less time,
since this book not only shows the route to early retirement
but also points out the roadblocks that can occur and how to
detour around them. I've already done the thinking and
rethinking, the mistakes and learning, and the trying and practising.
All you have to do is read this book and put the
principles to work.
I present the method in two parts, showing first what you
need to do and then how you actually do it. The first part,
"The Plan," introduces the basic financial concepts I learned
when I was young and then the steps I took as an adult that
led to my financial independence. The second part, "The
Procedure," provides the means for putting my plan into action
and moulding it to your own situation, with practical suggestions
and techniques.
If you're single, earn a low income (my average salary for
the first three years was $15,000), and stay single over the next
10-15 years, you have the potential to retire at the end of that
time. I'm living proof. Depending on your circumstances, if
you're not just starting out, or you're earning a much better
income, or you're married (with or without children), you
could also retire within that time frame or sooner. You may
already have your household furnishings and appliances, car,
mortgage partly paid off, or even some investments and retirement
funds saved. Your children may be young, entering
university, or leaving home, or you may be childless. It doesn't
matter. Every situation will be different, including income and
debt levels. These factors will not keep you from ultimately
succeeding, but how you choose to deal with them will affect
the timing of your retirement. If you want financial freedom,
it's entirely up to you. If you'd rather tend your garden than
look after your customers, you can. If you'd rather lounge in
your backyard than doze in a traffic jam, you can. If you'd
rather go hiking than sit through a business meeting, you can.
You can reach financial independence without feeling
deprived, just as I have. But it takes conscious living. You may
have to adopt a new attitude toward your use of money and
exchange some bad habits for good ones. You may need to
make some decisions about your lifestyle and prioritize the
things you truly value in life.
Simply put, you get rich quick by accelerating the accumulation
of assets and the elimination of liabilities. To continue
indulging in your dreams, you keep building your asset base,
even after you've retired. Be encouraged, though, that doing
so will be easier if you follow the guidelines in this book.
Other money books have you performing long calculations
with schedules that resemble tax returns (as if you'd really want
to do that in your spare time), and by filling out questionnaires,
charts, and budgets you'll supposedly benefit monetarily
sometime in the future. Then there are books that assume you
already have a sizeable amount of cash and only need advice
on how to invest it. Still others are dissertations on the psychology
of money. The books identify, label, analyse, and
discuss all the possible behaviours that characterize an individual's
view of money. How this approach gets people off the
couch and on their way to better finances I don't know. It
wouldn't work for me.
So get ready for an easy read — simple and fast ways to
stop working arid start living. Immediately after putting this
book to work, you'll feel freer, more secure, more retired! If
you take action and persevere, you won't have to suffer the
seemingly interminable wait until conventional retirement, and
you'll avoid the common, shocked response "I'll have to save
how much?" While other books offer difficult, plodding
methods to achieve financial security, this book offers the techniques
simply, with as little hassle or drudgery as possible.
Plain and simple. Faster and easier. So what are you waiting
for?
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