In his own words: “If you’re new to building wealth or early on your path to becoming rich, start with defense. Without defense, all of your money will flow out. Worse yet, you may have more money going out than coming in. This is how people accumulate debt.”
The formula for building wealth couldn’t be easier: (1) Spend less money than you earn. (2) Invest the difference between your earning and your spending. (3) Avoid debt. Simple, but not always easy. In this post Guy On FIRE lays out blueprint for building the wealth you’ll need to FIRE … and it starts by playing defense. Check it out and so that you can make the switch from defense to offence as soon as possible.