cool share, thanks and reps sent
Looks like a good read, thanks SS. Reps added.
From the Book: I was broke and unemployed after being let go from my automotive job during the depths of the financial crisis, in early 2009. I was a 27-year-old college dropout who suddenly found himself without a paycheck.
1. Choose a career that you can at least stand on a daily basis for a five-year stretch. And make sure
this career can allow you to earn at least $50,000 pear year (in 2018 dollars).
Here are five ideas:
Real estate agent
Truck driver
Salesperson (which is essentially what I was)
Construction worker
Oil and Gas laborer
2. Step 2: Track And Minimize Expenses
Do not buy a Car
But owning and operating a car comes with a set of bills. Think car payment, insurance, gas,
maintenance, repairs, tag fees, license fees, etc.
These bills keep you chained to a job so that you can afford a car to get to the job.
It's this neat trick of a catch-22. And it's not freedom. It's anti-freedom.
3. You now need to develop a side hustle that's both highly enjoyable and easily monetized.
A side hustle is a part-time gig that you can allocate spare time to. It's a hobby of sorts that can earn you some spare cash. This spare cash can be used to further increase your savings rate and accelerate the journey toward early retirement.
(I'll give you five quick examples of profitable and enjoyable (depending on your personality, skills,
interests, etc.) side hustles:
Writing/blogging (my personal pick)
Web development
Selling crafts/goods online
Airbnb renting
Uber driver
Each of these side hustles can earn you quite a bit of money - anywhere from an extra $100 per month to significantly over $1,000 per month )
4. Invest: Doesn't says where to invest but talks mathematics...
And it's compounding that's really at the root of this conversation.
Let's say you have $10,000 today.
And let's say that $10,000 is earning 1% compound interest in the bank.
Under those circumstances, that $10,000 will turn into just over $11,000 in a decade.
However, 2% inflation means that money is worth less in a decade than it was 10 years prior, because
the cost of goods have been growing over that same time frame.
If that aforementioned 2% inflation rate keeps hold, that $11,000 you now have will actually be worth
less in terms of purchasing power (what it can go out and buy) than the $10,000 you started off with!
You lost money. Not good.
5. Step 5: Move Abroad
Did he just say move abroad?
Yes.
Yes, I did.
I relocated indefinitely to Chiang Mai, Thailand in 2017.
I refer to myself as a "dividend expat".
Worthless Guide.. Will sell U dreams and all but less than 1% of the whole population of the world can do this.. Thanks for wasting My 15 minutes..
Reps to Indigenius for the review!
thank you for the share , reps to you
Reps to Indigenius for the good Information.
Yes true, like a digital nomad. Is good.