The plan to Get Rich Quick’ish isn’t complicated:
- Spend less money than you earn
- Invest that difference
- Eliminate/avoid debt
- Avoid lifestyle inflation
Do these four things and you can reach financial freedom in about 10 years. Easy to say, not always easy to do when life gets in the way. If you’ve ever lost your job, suffered a major illness, or had your business fail then you know what I’m talking about.
But sometimes we get in our own way and make boneheaded financial moves, like selling our assets. Selling a wealth creating asset is like killing the goose that laid the golden egg. Don’t kill your goose, keep it and let it produce!