Financial independence and retirement are used interchangeably, but there are some subtle differences.
Financial independence is usually applied to people across their entire lifespan. Those who cashed out $5 million
worth of Facebook stock at the age of 30 are financially independent just like those who saved $5 million in their retirement funds by the age of 65.
Retirement, on the other hand, is a term often used to describe someone in the last quarter of their lives e.g. ages 65 and up. Sometimes people are involuntarily forced into retirement due to employment circumstances. This is why some folks get so hot and bothered if you aren’t in the upper ages but say you are retired. They don’t think you deserve retirement because you’re not old enough!
The reality is all of us would rather be financially independent earlier, so we have more time to enjoy our
wealth. ..Read More
I set aggressive goals for my career, financial freedom and family. Some goals include reading x number of personal
development books a year, exploring new ways to earn passive income, set a deadline to finish writing my book and carving out more family time. I usually go through a few phases:
I am incredibly enthusiastic about my goals and immediately start working on them. The steps to achieve my goals are fresh and new, and I can often see real results from those steps. Even if those real results are small, they seem
wonderful because they’re moving in the right direction.
My initial enthusiasm fades and I begin to see how long it will take to achieve real results. The thrill of making good
moves is gone, and the minor drawbacks of those good moves often come to the forefront.
Once I push through the valley, I often come to what I call the Hallelujah Phase. The Hallelujah Phase comes when I have truly incorporated most of the changes needed to make to achieve the goal into my life and the positive progress toward that goal becomes a natural thing...Read More
One of my pet peeves is people telling me how much money they earn and flaunting their wealth to strangers. I am not talking about the cars they drive or the size of their homes, but rather about revealing their income without any reason. Usually it is because they want to let me know how successful and important they are. This does not impress me. In fact it is a turn off. I am only interested in their character and what they are doing to help
A recurring theme in The Millionaire Next Door, is discretion about one's wealth. Don't be too flashy, live conservatively and have a modest home. However, it is also important to enjoy your money by indulging in things that make you happy.
Here are some reasons why people reveal their income: Read More
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The objective of the Thornhill Wealth Forum is to assemble like-minded people interested in wealth creation, to share, learn and prosper through knowledge sharing and networking. Our philosophy is to be supportive of the wealth of others. Share information on self-promotion or help a struggling entrepreneur…even share it with your competition