Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required

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As a result, I was able to split out each chapter of 3000 words into 6 sections with 500 words each. I could then just concentrate on finishing one small section at a time. Afterwards, it was easy to move them around (by drag and drop) without having to worry about making everything perfect the first time. Scrivener also gave me a sense of accomplishment by showing my progress toward each 500-word milestone. As a result, I was able to reach my 3000 chapter word count without breaking a sweat. Then rinse and repeat. From two leaders of the FIRE (Financial Independence, Retire Early) movement, a bold, contrarian guide to retiring at any age, with a reproducible formula to financial independence. In the following book summary, we’ll see how she did it. Kristy’s Chinese heritage taught her that debt is a trap to be avoided at all costs. Did you know that on average Chinese citizens save 38 percent of their income? Americans, by contrast, squirrel away 3.9 percent of what they earn while the Japanese keep just 2.8 percent for a rainy day. So what’s going on – are the Chinese just inherently frugal? And that’s why it pays to follow the math. Just ask Kristy. Today, she’s a professional writer. The reason she got there is simple: her well-paying engineering job meant she wasn’t reliant on writing to make the rent. Money, in other words, provided her with the foundation which eventually allowed her to pursue her true dream.

When our literary agent first worked on the book pitch to Penguin, I asked her to do a comparable (ie this book is like “Battle hymn of a tiger mother” meets “I Will Teach You To be Rich”) but her reaction was “Nope. There are no comparable books. I’ve sold many books and, in my experience, this isn’t like any other finance book out there. It’s one of a kind.”Quit Like A Millionaireis about so much more than making money, traveling the world, and retiring early (although it teaches you how to do all three insanely well!).It’s a new roadmap to living an awesome life! You don’t need to settle for status quo. Life’s too short for that. So don’t. This book will both inspire and entertain you, while actually giving you the steps and mindset to become a millionaire. Retiring early isn’t easy, but it’s never been easier in history to make it happen. There’s no fluff here. This is the real deal.” PDF / EPUB File Name: Quit_Like_a_Millionaire_-_Kristy_Shen_and_Bryce_Leung.pdf, Quit_Like_a_Millionaire_-_Kristy_Shen_and_Bryce_Leung.epub Kristy Shen and Bryce Leung during their travels. Photograph: Kristy Shen and Bryce Leung, author of How to Quit Like a Millionaire You’ve taught us that financial independence is a powerful tool that frees you from stress and lets you choose the life you want, and as a result, it can change the world. When your money and priorities are in sync, you find financial peace; I’ve taught that principle for years. Kristy’s personal storyshowed me how one does the scary work required to discover those real priorities. This book is a testament to the power of knowing what you want your money to do for you with absolute clarity, and then going after it unapologetically.”— Jesse Mecham, Wall Street Journal bestselling author of You Need a Budget; founder of YNAB

Well, sure – you can’t spend your way to Earthly bliss. But here’s the flipside: poverty is pretty sure to make you miserable. Far from being the root of all evil, money is the most important tool we have to improve our quality of life. With a blueprint for the book, we now knew the direction to go. Only problem is, just like building a house, it’s freaking difficult to actually BUILD the damned thing without getting overwhelmed. The American business guru Robert Kiyosaki once remarked that poor people buy stuff, the middle class buys houses and rich people buy investments. What he meant is that rich people put their money into things that make them more money. But you don’t have to be a multi-millionaire to follow their lead.That’s a whopping 98 percent of the sale price. And remember, we started by assuming that the value of the Smiths’ house would grow by 6 percent every year. That’s well above the actual inflation rate in the US, which is about 2 percent. In the real world, the Smiths would have lost money! Use the “Rule of 150” to decide whether to buy a house or use your money for something else. I especially like how she stresses certain concepts and approaches, but always reinforces the appreciation that people are different and that things can be tailored to your own context. This is when it’s a good idea to remind myself of the hundreds of steps we took to get here, take a deep breath, and tell myself it’s going to be okay. With over 400 posts, it’s pretty impossible to learn everything by binge reading this blog. This book makes it easier for you to digest the information in story format and the best part is that it has been edited and polished, so you don’t have to worry about typos (which long-time readers you know I’m extremely guilty of). Not only that, you can easily gift the book to a friend and family member who you feel could benefit from learning about FIRE. Unlike Any Other Finance Book You’ve Ever Read

TIP: I planned to read this but it then became available as an audio book. She is witty, funny, and I really want to know this lady!! She’s great to listen to!I knew we were going to teach FI and investing concepts through the story of how I became a millionaire by the lessons learned during the 3 stages of the socioeconomic ladder— poverty, middle-class, rich. Quit Like A Millionaireis about so much more than making money, traveling the world, and retiring early (although it teaches you how to do all three insanely well!).It’s a new roadmap to living an awesome life! You don’t need to settle for status quo. Life’s too short for that; so don’t. This book will both inspire and entertain you, while actually giving you the steps and mindset to become a millionaire. Retiring early isn’t easy, but it’s never been easier in history to make it happen. There’s no fluff here. This is the real deal.”— Grant Sabatier, author of Financial Freedom; creator of Millennial Money Was not a big fan of parts of this book, since I’m not an “optimizer” as the author writes. The word “retirement” was also liberally misused, instead of “financial independence” which is more accurate. She did not “retire” at the age of 31, since she’s now writing books (her true passion). She simply became financially independent. Did she really hate her engineering job THAT much?... I also got the same reaction from my friend and fellow author, Grant Sabatier. He’s read over 360 books and he said “this is unlike any other finance book I’ve ever read.” Practical and Bullshit Free

Lots of folks are cautious about borrowing money, but they usually make one big exception: a mortgage. Conventional wisdom says buying a house isn’t just a rite of passage into adulthood but a wise investment in the future. After all, you can always sell at a profit, right? A lot of people are cautious when it comes to debt, but the one exception most people have is a mortgage. Shen says people should think twice before diving into the housing market. A lot of people are actually better off just renting. Quit Like a Millionaire, a memoir-cum-how-to guide came out this month and presents financial independence as a route to happiness and is refreshingly dismissive of home ownership as an investment.” —The Guardian (US) A good investment is an index fund because they’re safe and generally have a consistently good return. Aside from investments, Shen teaches the real way to early retirement is being good at saving. This serves two purposes: it reduces the size of your target portfolio, or the amount you need to retire, and puts more money into that portfolio.I have a feeling that Kristy Shen does not care too much about recognizing and uplifting people who are underrepresented at higher socioeconomic levels. That's her choice, but what good is being rich if we can't make the world better with that wealth? I just question the getting rich to do whatever you want story, because there's no accountability to society or to one's community. I get especially suspicious when Shen starts saying we should steal ideas from the rich. I would rather die a pauper than be seen as being even remotely similar to Andrew Carnegie and those other prosperity gospel assholes. If you want to be happy, stop buying stuff and going into debt and spend your money on experiences. Writers write. Rejection, heartbreak, and humiliation be damned. Writers are a rare breed. I like to joke with best-selling author and Godfather of FI, JLCollins, that writers are the worst kind of masochists because we’re addicted to pain.