4 Powerful Money Habits of Entrepreneurs who Retired Young.
A new phrase is spreading like a wild fire which is FIRE – “Financial Independence and Retire Early”
It takes a lot of Diligence, Intelligence and Dedication to Retire Young when you are a millionaire and you built your own fortune.
Many young entrepreneurs who share the same habits that have helped them to achieve early retirement and maintain their financial independence
It’s their habits that creates wealth and build momentum for rest of the things to multiply your wealth.
1. Inventory of Finances
These young retirees walk on the same path in diligently tracking their earning, progress and spending.
When it comes to planning their future – they have complete control over their spending. They knew their networth and they also calculate how much to spend annually.
They have a complete track of their spending; spending is like an addiction but they keep track of their expenses.
2. They don’t spend too much on Housing
Reduced housing expenses can help you in freeing more money into Financial Investments and other assets.
They don’t buy or spend money on lavish houses. They live in modest home, optjmised space in accessible area
3. They focus on increasing their Income
Planning to retire young is not about saving and spending less, but making more money. Increasing your income is much more important and that gives you opportunity to invest more money, more frequently with acceleration.
4. They are comfortable in living outside their Comfort Zone
Stepping out of comfortable zone can help you to make uncomfortable money decisions.
They take decisions which are aligned and supportive to their financial Goals, even certain financial decisions are not comfortable to make. They invest most of their income into Financial Assets like Mutual Funds, Direct Equity , which allows their income to generate high returns.
Young Retirees see the glass as half full on most things.
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Equity Fund Manager | Financial Consultant | Author
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