While the possibility of retirement is not within your short-term possibilities, the multimillion-dollar income you have may allow you to leave your business overnight. “I don’t want to retire either, but I like the idea of having that option sooner than I expected,” he once stressed.
Beyond the distance economically speaking that exists between those people who live from day to day and Buffett, The recommendations are useful to be able to obtain a difference that allows us to live better.
According to the investor, one of the best ways to earn money for an early withdrawal will depend on the financial behavior we develop on a daily basis. That is why he recommends adopt practices that allow us to measure our progress, so as not to get stuck.
It also advises not go into excessive debt, so as not to depend on someone else’s money. On the contrary, it recommends having money in savings to reach the goal. It also recommends being informed since the more knowledge one has of the financial world, the closer we will be to economic independence.
“If you do not find a way to earn money while you sleep, you will work until you die,” Buffett said at the time. Investing tools can be one of the most useful and popular ways to increase wealth.
While it is often believed that buying real estate can be a good option to receive money on a month-to-month basis, the inconvenience of dealing with contracts, tenants, and claims can be detrimental.
That is why investing in stocks of leading companies may be the safest and most advisable option. In the case of Buffett, made millionaire profits by putting his money in Coca Cola and American Express, two globally recognized firms.