Monday, July 26

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A millionaire who retired at 43 says he made 3 money mistakes on the road to financial independence

Jim White retired with a net worth of over $1 million at age 43. But, he found that he overspent in several areas, including on his house. He also realized that buying new cars and spending too much on food hurt his saving plan. Read more Personal Finance Insider coverage » Jim White retired at age 43 in 2018 with a net worth of over $1 million. But, he didn't get there without making a few mistakes. He says that he overspent on three major expenses before reaching FIRE (financial independence/retire early): his family's home, cars, and groceries. Now, he's trying to reduce these costs as much as possible as he lives off his savings. Here are the areas where...
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A millionaire who retired at 43 says he took 6 steps to reach his goal

Jim White retired at age 43 and has a net worth of over $1 million. To reach this point, he automated his savings, used budgeting tools, and paid himself first. He also paid off debt, and even downsized to cut his expenses and save more. Read more Personal Finance Insider coverage » Early retirement is possible, but it does take some work. Blogger Jim White of Route to Retire left work at age 43 in 2018 with over $1 million saved. Today, his net worth is $1.6 million at age 45. To reach his goal, he did several things to increase his income and drive up his savings rate. Here are the six moves he made. ...