Three habits for financial independence

[Deleted member 79987]

Some good, common sense from this article on building three habits for financial independence:

1. Live on less than you earn.
2. Maximize your ability to earn from your current job.
3. Create multiple streams of income.

https://www.palmbeachgroup.com/palm-beach-daily/three-habits-for-financial-independence/

 

[The Old Jaybird]

4. No wife or kids.

 

[NewLeaf]

Don't hate da play'a...hate da game . haha

 

[Danny Flucke]

4. No wife or kids.

No divorces / No kids works too.

Married 25yrs this past April. We came out of retirement for this opportunity in GA.

Double incomes works wonders...

 

[imawoodsman]

Start early in life! 20s or 30s

 

[Snack]

1. Live on less than you earn.
2. Maximize your ability to earn from your current job.
3. Create multiple streams of income.

1. Very good words and I’ll add to cook meals at home, eating out adds up to being very expensive and drive your vehicle until the wheels fall off.

 

[Trailrider]

Great advice, I'm trying to focus on # 3, create multiple streams of income. Wife and I both have good jobs, but I'm looking to get in to other side gigs to make more cash flow.

I'm seriously considering getting in to real-estate. I've been researching rental investments but just haven't bit the bullet yet.

 

[Horsehat]

buy when others are selling, sell when others are buying.
Pay at the pump, avoid daily $5-$7 trips into the convenience store.
Pack your lunch.
Use debt, don’t be used by it, avoid whenever possible.
Any time you purchase an asset consider how it will resell.

 

[whiskerz]

I am curious where do the hookers and blow fit in this plan?

 

[Morgan]

#7. Minimize Realized Income