Introduction
It is one of topics in the presentation "Mr Money Mustache - The man who retired before age 30
". Here is the video. The topic starts from 17:00 - 22:00/ 26:45.
Case study
$40,000/ year vs $400,000/ year, both are 10% saving. The two will retire in the same years.
How long is your prison sentence?
(aka mandatory working for money)
Low income is more important to learn how to save 64% of income.
Brainstorm the idea
I like to explore idea how I can do it in one year to save 64% income.
1. I choose to walk around neighborhood instead of driving to tennis court. Save gas.
2. Spend more time on walking instead of other expensive sports.
3. No vacation international, say no to life style and cut off wechat with family group.
4. Admit my problem solving skills in terms of algorithm and data structure. No more private coach or other worry about applying fancy and top paid salary job.
5. Spend more time to work on 200 more medium level algorithm problems solving in next 6 months.
6. No clothing shopping, any expense about 100 dollars except auto insurance etc.
7. Every time Costco shopping no more than $100 dollars a time. Reduce the waste of food. Purchase big bags of fresh potatos, onions, carrots all the time.
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