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<blockquote data-quote="illini55" data-source="post: 1687184" data-attributes="member: 4153"><p>There is one rule to follow if you want to retire early. (I retired at 54). Live well below your means. </p><p></p><p>Take pleasure in saving instead of spending. Take a rather large percentage of your take home pay and bank it. NEVER touch it again until you are actually retired. As it says in other posts, invest in things you know and don't worry at all about yearly fluctuations. You have plenty of time for a recovery. </p><p></p><p>One exception. If you bought something based on certain assumptions and facts, and they change dramatically, ask yourself: Can I deploy the money from selling this investment in something more attractive with better future prospects? If so, do it. Never worry at all about how much "up or down" you are in an investment---only question the future prospects of that investment. Good luck and good investing.</p><p></p><p>p.s. read the book "The Millionaire Next Door." It will give you a framework to live your life.</p></blockquote><p></p>
[QUOTE="illini55, post: 1687184, member: 4153"] There is one rule to follow if you want to retire early. (I retired at 54). Live well below your means. Take pleasure in saving instead of spending. Take a rather large percentage of your take home pay and bank it. NEVER touch it again until you are actually retired. As it says in other posts, invest in things you know and don't worry at all about yearly fluctuations. You have plenty of time for a recovery. One exception. If you bought something based on certain assumptions and facts, and they change dramatically, ask yourself: Can I deploy the money from selling this investment in something more attractive with better future prospects? If so, do it. Never worry at all about how much "up or down" you are in an investment---only question the future prospects of that investment. Good luck and good investing. p.s. read the book "The Millionaire Next Door." It will give you a framework to live your life. [/QUOTE]
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