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Pragmatic Capitalism

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Becoming Financially Independent

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Hi Cullen, I am curious if you have any tips for young people about becoming financially independent? I remember reading somewhere that you were able to become financially independent before 30 which is a goal for most anyone. But how did you do it exactly? I know there are no secret tips but maybe you have some general insights?

Thanks,

Sam

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Posted by Samantha Watts
Posted on 10/10/2017 4:35 PM
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Gosh. Big question. Step 1 – be born white, male, to two loving parents in the USA. At least that was step 1 for me. I have a recurring argument with my wife where she claims I am self made and I tell her that I was born on first base and got really lucky along the way to home. There’s probably some truth to both, but I think there’s more truth to my side.

I need to think about this. Maybe I’ll try to write a post about this one.

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Cullen Roche Posted by Cullen Roche
Answered on 10/12/2017 1:23 AM
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    I was going to just post a sarcastic comment like “marry a rich person”, but decided that wouldn’t be helpful.

    I’m not financially independent, but can certainly relate to Cullen’s initial response. Being born a white male, having intelligent parents, etc. — all those things certainly help.

    What I will share is something simple I heard in a Dale Carnegie course back when I was about 23: successful people are willing do what others are not.

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    Posted by Steve W
    Answered on 10/12/2017 9:12 AM
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      Another white male here. Although my parents divorced when I was 12, my mother was a big proponent of getting a college education. Now, I know that a lot of people without college are very successful, but I can say that it helped me a lot with regards to finding work that paid well enough that I could retire at age 55. (I do still work part-time at a golf course but it’s because I “want” to) One other thing, my grandfather told me 50 years ago; “It’s not what you make that counts, it’s what you spend”.

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      Posted by Randy
      Answered on 10/12/2017 3:07 PM
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        Another important question is “What calculations do you have to do before you can claim financial independence – beyond a tally of income vs expenditure” ?

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        Posted by Mehul Gandhi
        Answered on 10/15/2017 5:11 PM
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