“What do you mean retired? Do you really really wanted to retired… NOT WORKING at all… before 35?”
That’s my friend’s reaction when I told him that my goal is to retired before 35.
What I meant about ‘retired’ is the joy of financial freedom. That I no longer HAVE TO work in order to fulfill my expenses. I work just because I WANT TO work, not because I have to.
At @GirsinTechIDmeetup about financial planning, I met @mrshananto and I ask her about the possibility of my financial goal. She said, that basically, the concept of retired now means: your passive income can cover your monthly expenses, and of course it’s achieveable.
Wiki says, Passive Income is an income received on a regular basis, with little effort required to maintain it.
Ways to get passive incomes are varies. I get it from my book royalties and businesses that I ran with partners. But of course I need more, can be from property, dividen from stocks, etc.
And I found a very interesting book that in-sync with this, it’s The Lazy Millionaire by Marc Fisher. In his book, he points out about the good habit of a lazy millionaire with passive incomes.
Habit of a Lazy Millionaire according to Marc Fisher:
- Work less, get more
- Effectively manage time: prioritize! Do the task that is the most profitable for you first
- Capable to delegate and let other do the work. The Lazy Millionaire knows that 80% of the key to successful delegation is… choosing the right person
- Have other sources of alternative revenue, especially residual
- Always have clear objectives/goals
The book is a very great book. Seriously, you must get one!
By the way, I still have 7 more years to get more passive incomes before reaching 35. So, hopefully I can make it. I’m ready to plan it with my financial planner *try to erase the image of new car in my mind* :))
Geniuses often accomplish more when they work less –Leonardo da Vinci