Alan shared an hour of his time to explain how he was able to retire at 35 and lays out the principles by which he lived.
Alan’s three core principles
- Keep your spending in check so you save a lot - preferably by automating your savings
- Seek out ways to increase your income through education, hard work, and challenging careers
- Implement a sound investment strategy that keeps fees low and generates high rates of return early on
Alan discusses the merits of going back to school to get a graduate degree. He also explains why living in a low-cost city like Pittsburgh was a boon and how he lost more than 100 lbs after he retired.
THIS EPISODE WAS RECORDED ON SEPTEMBER 30TH, INTERNATIONAL PODCASTING DAY, at the EPICAST NETWORK STUDIOS.
Alan’s Challenge; Keep a journal of all your expenses for one week and reflect on necessary vs. discretionary purchases. By investing savings in securities generating an average of 10%/year (i.e. total stock market funds), in 20 years, each dollar saved could turn into $7. If you’d rather have the $7, automate your savings.
Reading Suggestion; BogleHeads
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