If you want to quit your job and be rich ASAP

Statistics show that the majority of people dislike their jobs

Not to mention, wages have barely budged in years

It’s no wonder people want to retire ASAP

However, most lack a plan to do so

This is your blueprint to retiring in a hurry…

Step 1: Get out of high interest debt

To retire quickly, you need to be paying yourself – not creditors

Few understand the true cost of this debt

Ex/$6k balance with min. payments will cost you $2k in interest

Best to avoid but if you’re in debt, do this…

Organize debts from highest to lowest interest

Place line item in budget for repayment

Earn extra income (side hustle, OT) to pay down quicker
Once high-interest debt free, never assume any again

Now it’s time to make some real progress…

Step 2: Embrace frugality and automation

The less you spend, the more you can invest

This is where frugality comes into play

Only spend on things that bring you value

The more you can stash away, the sooner you can retire

Remember this when making purchases

You also need to automate the following:

• Bill payments
• Savings deductions
• Investment contributions

To retire early, you must offload these administrative tasks

Next, let’s talk about the 3 key elements for retirement

Step 3: Planning

Retirement planning is composed of:

1. Target retirement amount ($ you need to retire)
2. Retirement timeline (how many years you have to save)
3. Contribution requirement (monthly investment you must make)

Let’s break down all three right now…

Your target amount is your annual living expenses x 25

Ex. $50K/year x 25 = $1.25M

If you want to retire in 30 years, you’d need to invest $1K a month at 7%

Sadly, the math is the easy part, following through is the challenge

Here’s what to do…First, budget in your monthly contribution

If you can’t fit in your required contribution, you have two options:
1. Cut expenses
2. Make more money

To reduce expenses, focus on housing, transportation and food

To earn more, focus on freelancing, part-time jobs etc.

Now, here’s the trick

It’s your income that will speed up your retirement timeline the most

Ex. Investing $5k/month for 13 years and you’ll have your $1.25M

Chances are you can’t “cut out” $5k of expenses

This is why making more money is so powerful

Then…

Once you are making a significant income, remain consistent

Your savings and contributions should be automated (step 2)

Also, embrace the journey

Retirement doesn’t happen overnight

It happens when you have a plan and see it through