FI math is simple: spend less than you earn, and invest the difference. But move that magnifying glass closer and you may find money mistakes holding you back. Read on to learn about the 7 deadly money sins you need to avoid to reach FI.
Money Mistakes
Sitting on cash cost me a fortune
General wisdom says to save 6 months of living expenses before investing. Many financial advisors even recommend 12 months. Good advice? Eh, maybe. For the paycheck to paycheck crowd anyway. But if your aim is to retire early, you don’t have 40 years to invest. You need to put your dollars to work for you as soon as possible. Missing out could cost you. I learned this lesson the hard way.