Following are resources you can use to upgrade how you think about money and dramatically accelerate your path to financial independence.
The Six Steps I Used To Retire At 42
This report outlines the six steps I used to reach financial independence by 42 (actually a little earlier, but I wanted to be conservative in my time estimates). You don't want to won't be able to duplicate ever single one of these. The report is meant more to inspire to use your own creative thinking to accelerate your path to financial freedom.
The Five Key Books
Following are the Five Key Books I suggest you read to get yourself moving quickly towards financial independence. Read them, and never be the same.
- Your Money or Your Life
- A Random Walk Down Wall Street
- The Millionaire Next Door
- The Overspent American
- Popular Delusions and the Madness of Crowds
These can be read in any order. Just start with the one that interests you most.
If you use a credit card for most of your purchases, you can track all your expenses automatically through Mint.com. Mint will categorize your spending for your automatically. Mint also does a great job updating real time your total net worth by linking in all your investment and savings accounts. I don't recommend using Mint to analyze your investments. The software is just way too kludgy. Also, when you are first getting a handle on your finances, I suggest you physically write down every expense for several months in a notebook and manually total the figures monthly. Tracking your financial flows by hand will drive home on a deep level exactly where your money is going. You can then eventually graduate to using Mint.
Vanguard was the pioneer of index investing and remains the leader in my book. The firm is owned by the shareholders (people like you and me who invest there); so there is less of a conflict of interest when you invest with Vanguard. It's extremely important to only put your money with highly ethical firms. I believe Vanguard is among the most ethical financial institutions on the planet. Also, the costs of investing in index funds with Vanguard are among the lowest in the industry.
Compound Interest Calculator
Use this calculator to calculate compound interest estimates. There is nothing special about this particular link and calculator. You can find tons of these with a quick google search.
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