I retired from my banking job forever at 34.
• No mentors
• No illegal activity
• No severance pay
Here are the simple ideas I used to retire early:🧵
The world runs on hidden incentives
To retire early you must understand:
Everyone is selling something & has a convenient story to do so.
Once you stop getting fooled by hidden incentives, you’ll get taken advantage of less.
To retire early you must understand:
Everyone is selling something & has a convenient story to do so.
Once you stop getting fooled by hidden incentives, you’ll get taken advantage of less.
Stop seeing retirement as an age
Retiring early is a lifestyle.
Assets pay for it.
Two types:
• Financial assets — stocks, bonds, crypto, real estate, gold/silver, etc
• Digital assets — books, courses, Youtube channels, evergreen social media content, etc
Retiring early is a lifestyle.
Assets pay for it.
Two types:
• Financial assets — stocks, bonds, crypto, real estate, gold/silver, etc
• Digital assets — books, courses, Youtube channels, evergreen social media content, etc
VIDEO
If you don’t have assets then retirement will be at 65 (at best).
More likely, full retirement will be never thanks to:
• Taxes
• Inflation
• Currency devaluation
“You’re welcome” says grandpa world leaders
More likely, full retirement will be never thanks to:
• Taxes
• Inflation
• Currency devaluation
“You’re welcome” says grandpa world leaders
Stop working towards the wrong retirement goal
Most people’s retirement goal: reach 65 then retire
• Work like a dog during your young years
• Then chillax in your older years when your body is screwed & your energy is 80% lower?
It makes no sense.
Most people’s retirement goal: reach 65 then retire
• Work like a dog during your young years
• Then chillax in your older years when your body is screwed & your energy is 80% lower?
It makes no sense.
VIDEO
A better retirement goal:
• Retire as early as possible from work you hate
• Transition to work you enjoy. Do work where you don't have to worry about how much it pays
Retirement isn’t an age.
It’s a choice of what work to do that isn’t based on pay.
• Retire as early as possible from work you hate
• Transition to work you enjoy. Do work where you don't have to worry about how much it pays
Retirement isn’t an age.
It’s a choice of what work to do that isn’t based on pay.
VIDEO
Stop thinking 2 weeks of a vacation a year is enough
We need time to chill and reset our minds,
Otherwise the quality of our work falls off a cliff and our inner Karen gets unleashed.
We need time to chill and reset our minds,
Otherwise the quality of our work falls off a cliff and our inner Karen gets unleashed.
Stop saying “I can’t afford it”
Say:
“How can I afford it?”
The answer to money problems is to make more money, not cut back on expenses and try to save pennies.
Fixed Income = Fixed Mindset
Say:
“How can I afford it?”
The answer to money problems is to make more money, not cut back on expenses and try to save pennies.
Fixed Income = Fixed Mindset
“Stop sacrificing today for an imaginary tomorrow”
(Naval)
Stop living for tomorrow. Focus on right now.
• Society has created the idea of retirement in a way that forces the average person to delay their dreams
• The incentives at work perfectly match this nightmare
(Naval)
Stop living for tomorrow. Focus on right now.
• Society has created the idea of retirement in a way that forces the average person to delay their dreams
• The incentives at work perfectly match this nightmare
Stop thinking “you have to be privileged to retire early”
We all got disadvantages.
Question: What are you going to do about them?
• You have the power to change.
• And the power to create whatever you want.
Reminder: nobody is coming to save you.
We all got disadvantages.
Question: What are you going to do about them?
• You have the power to change.
• And the power to create whatever you want.
Reminder: nobody is coming to save you.
VIDEO
What Harvard research bizarrely shows about retirement
Retired people told Harvard the best part about retirement is:
- No meetings
- No commute
- The ability to pursue a hobby
These are all traits of remote work.
Retired people told Harvard the best part about retirement is:
- No meetings
- No commute
- The ability to pursue a hobby
These are all traits of remote work.
You don’t need to retire to get the benefits of what retirees say is the best part.
Get a decent remote job with a reasonable boss and feel like you’re already retired.
Get a decent remote job with a reasonable boss and feel like you’re already retired.
A practical retirement strategy
• Build a new skill stack
• Use it to start an online business
Then make enough money to quit doing donkey work & work from wherever, whenever
"The world’s best inflation hedge: a highly sought-after skill that gives you leverage" —Jack Raines
• Build a new skill stack
• Use it to start an online business
Then make enough money to quit doing donkey work & work from wherever, whenever
"The world’s best inflation hedge: a highly sought-after skill that gives you leverage" —Jack Raines
Final Thought
Early retirement is a mindset. It’s a psychology. Adopt it to become free.
Early retirement is a mindset. It’s a psychology. Adopt it to become free.
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