Retire Rich Roadmap » Retire Rich

Why You Need a Financial Planning Course

Mikael — Fri, 17 Jul 2009 21:40:44 +0000

The latest post I wrote turned into quite a bit of a discussion or rather a conversation since we all agreed that you need to take personal responsibility for what happens in your life. The post was about retirement investing but it might as well have been about financial planning. All in all it is the same thing because to achieve anything significant you will need to plan carefully as well as act and follow through. Whether we want to become wealthy or just financially secure there is no way around the planning and preparation part. The process (and it IS a process) consists of a lot of different parts that works together but one of the vital aspects is the educational part. Whatever we do in life we will need some kind ... Read more

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Retirement Investing – Don’t Trust Advisors’ Advice

Mikael — Wed, 15 Jul 2009 19:34:42 +0000

Now I know that this is quite a statement and there are probably a lot of people that would like to argue with me on this statement and that is just fine. But I would like to share my views on planning for your retirement and why I believe that listening to most advisors is a poor and brainless choice. When I say brainless I am not calling you stupid but merely stating that most people are passively listening to what advice the most marketing oriented (those that makes the most noise) advisors are saying. And being passive means not using your brain and in that sense you could just as well be brainless But there is one thing that is probably worse than listening to loud investment advisors and managers and that is to take... Read more

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Copy The Rich – Even Their Vocabulary

Mikael — Fri, 10 Jul 2009 08:07:30 +0000

Have you ever given some thought to how differently people speak and the words they use? If not then it might be time to start giving it a bit more attention because it has been proven that your vocabulary has an effect on your life and that applies to your financial situation as well. In the post about stopping your excuses we looked at bit out how words and in particular questions are an important part of becoming rich. If you ask good questions it will work for you but if you ask lousy questions it can hurt you. In a study done by some social behavior experts they proved that people that are put in prison have a very limited vocabulary compared to the average person. Often a limited vocabulary would make the person more ... Read more

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To Become Rich You Must Learn How to Sell

Mikael — Sat, 04 Jul 2009 18:33:08 +0000

Selling is a vital part of making money and if you want to be rich that is one thing that you must be able to do… making money. It may sound obvious but in today’s society most people think of something negative when they hear the word “selling” or being “sold” something. I don’t know if it has always been like this but it is definitely something that keeps a lot of people today from becoming wealthy and financially independent. One of the reasons why people don’t like “selling” might be that they feel that something is forced upon them against their will and that the salesman are using dirty tricks to make them buy something that they really do not want to buy. Where this way of selling comes from I do... Read more

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What You Don’t Know About Money Will Hurt You

Mikael — Sun, 28 Jun 2009 05:48:22 +0000

To be able to retire early you will need to put yourself in a situation where you will not have to worry about money to pay the bills. Retiring will as a definition mean that you are no longer working a job. In order to still have money coming in you will need to have other sources to work for you. I see making money as a craft in the same way as it is a craft to be a carpenter or an electrician. In order to be very successful at it you will not only need to study continually but you will also need to practice (and preferably teach) the skill set every day. What Are You Doing To Learn About Money? Since you are reading this post (and this blog) I assume you have an interest in making more money for yourself. If that is the ... Read more

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Why Most Frugality Websites Are Hurting You

Mikael — Tue, 23 Jun 2009 06:09:36 +0000

Whether it is the current financial downturn that has caused it or it is a shift in the mentality of the Western world is beyond me, but the fact is that more and more websites and concepts for frugal living is popping up all over. And even though frugality can be a good thing it is only a part of becoming wealthy and only if you focus on the RIGHT things. From what is currently happening all over I feel that there is a vital part that these websites and concepts are leaving out of the equation. But let’s first have a look at how Wikipedia defines the strategy and philosophy of “frugality”: Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means ... Read more

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What Makes Me Want To Retire Early and Rich

Mikael — Sun, 21 Jun 2009 20:57:10 +0000

As promised a few days ago I wanted to share with you what it is that makes me want to retire as soon as possible and why I believe that becoming rich is a very positive thing and something that everyone should aim for. But first let me tell you that finding my WHY, the reason for wanting to become rich and being able to quit my job, was not a fast process at all. The truth is that, like most people that are trying to become rich, I wanted to become rich because of the money. Ever since I was a very young boy I have been fascinated with money and I have worked hard at acquiring them in any way I could think of (legally). When I was very young I took out the trash and cleaned my room (which equals that I took everything and ... Read more

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Don’t Try to Save Your Way Into Retirement

Mikael — Mon, 18 May 2009 00:56:11 +0000

I don’t know whether it is human nature or whether it is because we’re conditioned by the media, the school system and the environments we’re living in but I find that there is a huge majority of people that believe that they are able to SAVE their way into a decent retirement. Having money in the bank is probably one of the least profitable ways to “invest” your money. The reason I put “invest” in quotes is that I actually believe that having money in the bank will end up being an expense for you while making the bank richer. The reason is that first of all you’re paid an insanely low yearly interest on your savings. Secondly your savings are being eaten up by the inflation a... Read more

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7 Steps to Achieve Early Retirement Capability

Mikael — Sat, 16 May 2009 02:18:10 +0000

I don’t recall ever meeting someone that had a job and didn’t want to be able to retire early from that job. Even people that actually like what they are doing at their job would want the ability to be able to quit or at least not be dependant of the paycheck each month. So what do I see as the key aspects for an early retirement? 1. Start as soon as possible The best thing to do is start as early as you possibly can. The more time you have to work on it the less effort you will have to put in. Unfortunately too many people are starting out too late and are therefore struggling with making ends meet and often can’t see their way out of the everyday hassle. 2. Find out what you want You need to be clear about what it i... Read more

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How to Retire Early and Rich by Making a Commitment

Mikael — Fri, 15 May 2009 00:16:13 +0000

As you might be aware this blog was intentionally created to help people that are looking for ways to retire early and retire rich to do just that. The ways to actually achieve this goal are many and I might even dare to say unlimited but even so there are just as many ways to avoid reaching that goal. Unfortunately I find that many people are searching for ways on how to retire early because they are looking for ways to retire as fast as possible. They might be sick and tired of their jobs or they might have been in an argument with their boss or similar. Making rapid decisions and looking for quick fix solutions is almost never the best way to go and as far as I am concerned this apply to the early retirement situation as... Read more

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