2784: How To Retire Rich Without Lighting The World On Fire by Lisa Harrison of Mad Money Monster

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 5 July 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2784: Lisa Harrison of MadMoneyMonster.com shares how achieving financial independence doesn't require extraordinary actions. By living below your means, increasing income, eliminating debt, and practicing frugality, you can build wealth steadily and retire rich without creating the next big thing. Read along with the original article(s) here: https://madmoneymonster.com/2018/03/26/how-to-retire-rich-without-lighting-the-world-on-fire/ Quotes to ponder: "Stop comparing yourself to The Joneses and their new BMW. In case you weren’t aware of it, The Joneses are broke." "You need to widen the gap between your income and expenses. And then buy assets with the difference." "By tweaking a few areas of your life you will set yourself apart from the crowd." Episode references: Your Money or Your Life: https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766 The FIRE Movement Reddit: https://www.reddit.com/r/financialindependence/ The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily episode 2784.
0:04.0	How to Retire Rich without lighting the world on fire
0:08.0	by Lisa Harrison of Mad Money Monster.com
0:12.0	and I'm your host and personal finance enthusiasts Diana Merriam.
0:16.8	We're going to jump right into today's post as we optimize your life. How to retire rich without lighting the world on fire by Lisa Harrison of Mad Money Monster.com.
0:33.2	With all the buzz these days around climbing the corporate ladder
0:36.4	and starting businesses, it's easy to think
0:39.5	that building real wealth is reserved for a privileged view.
0:43.0	I'm here to tell you that that is simply not true.
0:47.0	So if you tend to think you'll never become rich because you have no plans of lighting the world on fire by creating the next Amazon or
0:55.6	Snapchat, this post is for you.
0:58.8	If you're new to the blog, you need to know that my husband, also known as Mr. Mad Money Monster, and I didn't start getting
1:06.2	our financial act together until we were out of our 20s and well into our 30s.
1:12.4	Mr. Mad Bunny Monster was a teacher for years
1:15.8	until he left to pursue his passion in a different industry altogether.
1:20.0	And I've worked in corporate America since graduating college.
1:24.0	Our incomes are above average, but we're certainly not making investment banker wages here.
1:30.0	In fact, Mr. Mad Money Monster's income is variable and unpredictable.
1:35.2	My income is more predictable and also comes with the added bonus of health benefits
1:40.0	and all that good stuff.
1:42.0	All that to say, pretty normal. Up until a few years ago,
1:46.0	we still had car loans, student loan debt, and credit card debt. Then something changed. We found the Fire community. Fire as in Financial Independence
	...

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