Table of Contents
Introduction 13
Chapter 1 Start with Why 15
Discover Your Why 16
How to Find Your Why 18
A Retirement Lifestyle 20
Early Retirement on Different Incomes 21
Keep Your Plan Visible 28
When Is the Right Time to Retire? 28
Chapter 2 How to Develop a Personalized Plan 31
What Is the Lifestyle You Want in Retirement? 31
Start with a Budget 39
Create Your Budget! 41
Analyzing Your Expenses 44
Try the Cash Method 48
Understanding Your Net Worth 51
Increasing Your Net Worth 54
Growing Your Wealth for Early Retirement 54
Chapter 3 Making the Most of Your Income 61
What the Wealthy Know That the Rest of Us Don't 62
Steps to Minimize Your Expenses 63
How to Increase Your Income 66
Penny Wise, Pound Foolish 71
Chapter 4 Opportunity Cost and How It Affects Wealth 77
Where the Money Goes 78
The New-Car Purchase 79
The Gym Membership Purchase 80
Small Purchases Can Really Add Up 81
Comparing Opportunity to Opportunity Cost 83
Chapter 5 The Role of Fixed Debt 89
How Fixed Debt Impacts You 89
What Is a Healthy Debt-to-income Ratio? 91
Types of Fixed Debt 94
How to Use Cash Instead of Debt 104
Encouragement for Avoiding Fixed Debt: Focus on Your Why 107
Chapter 6 Credit Card Debt Can Kill Retirement Plans 109
The History of Credit Card Debt 109
How to Avoid Running Up Credit Card Debt 114
Paying Off Credit Card Debt-A Fantastic Investment 118
Other Helpful Tips 121
Chapter 7 Investment Vehicles That Will Get You There 125
The Top Three Investment Vehicles People Use to Retire Early 126
Investing in the Stock Market 128
Real Estate Investing 136
Business Ownership 153
Other Investment Options 166
Hire a Financial Adviser or Go It Alone? 168
Robo-Advisers 171
Chapter 8 Stick with the Plan 175
Get-Rich-Quick Schemes and Scams 175
Why Perseverance Matters 180
Creating an Environment That Helps You Achieve Your Plan 188
Take Advantage of Continuing Education 194
Create or Join a Community of Like-Minded Individuals 195
My Method and Why It Works 195
Chapter 9 How and When to Track Your Plan 199
The Budget 200
How to Measure Your Progress 204
How Often Should You Assess Progress? 209
Keep It Simple with Software 211
Investment Fees 214
Chapter 10 How to Deal with Setbacks 215
Fallout from Economic Downturn 215
A Changing Family 219
Medical Issues 223
Identity Theft 224
Keep Your Why in Front of You 227
Appendix A Ways to Increase Your Income 233
Appendix B Glossary 237
Appendix C Types of Businesses 239
Franchise-Based 239
Brick-and-Mortar Business 240
Online Income: Product Based 240
Online Income: Service Based 241
Appendix D Resources 243
Book Recommendations 243
Blog Recommendations 243
Podcast Recommendations 244
Index 245
