So I am doing some Christmas shopping last night and I stroll by the magazines. I was looking for something to motivate me and potentially educate me. I saw a few magazines in the business section with the cover words “Retire Rich.” I do not know anyone that would not want to retire rich. Why not set your goals a little higher. You do not have much room for error when you wait til the end of your life to reach the “rich” goal. There is no margin for error.
I want to read about “Retire Rich Young” or “Live Rich,” not about waiting til the end. I want a 5-10 year plan not a 45 year plan. I guess my goals a little bit different though. I personally understand compound interest. It works well in two cases, when you have lots of money or when you have lots of time. My plan does not start with either. I do not want to put 10% of my income into a 401K for 45+ years, then have my nut when I retire.
Here is a song to emphasize my point. Notice he sings about money in the bank, not in retirement.
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