In the last half-century, the names of Ross Perot, Sam Walton, Bill Gates, and Warren Buffett have appeared at the top of the lists of wealthiest Americans, all of whom have been the subject of biographies chronicling their rise to the pinnacle of riches. A reading of those life histories provides no evidence of membership in secret societies, no teachers or advisers who may have passed along confidential knowledge about savings or investments, no super-human skills, and no extraordinary abilities or qualities beyond intelligence and a strong work ethic.
If there are no secrets to wealth-building, what do successful wealth-builders have in common? What personal attributes are equally valuable in industries as diverse as retailing, software development, and investing? Are these identifiable common traits, in fact, the secrets to their success?
For most people, the ability to retire early is a result of choices made in their early working years plus the choices about the desired lifestyle they hope to enjoy after ceasing employment. The combination of the cost of the lifestyle you desire and the years remaining after you stop working drives the amount of investment capital you need in order to maintain the lifestyle you want.
The age at which you can enjoy freedom from full-time employment with some degree of security is dependent upon the following life choices:
Disappointment is part of life and affects everyone. Picnics are spoiled by rain, parents miss school events and birthdays due to late flights and business emergencies, friends can’t come over. Read my MoneyCrashers article to see how you can help your child cope with disappointment and failure to become a resilient adult. My 6 Tips will guide you in the emotional moments and help you teach your child important life skills.