Cut small habitual expenses—skip expensive coffees and lunches—and invest the savings to capture long-term market returns. Clear out unused clothing and other unnecessary purchases and channel those funds into diversified investments that historically return about 8–10%. A person earning $70,000 who invests 15% of monthly income from their late twenties until 65 can reasonably expect to retire a millionaire assuming historical returns continue. At work, identify three essential tasks each day and avoid distractions to increase productivity and workplace value. If a fundamental disagreement with an employer’s direction exists, seek other employment. Discuss money by the third date and require children to become self-reliant.
Stop buying $7 coffees. Don't pay 40 bucks for lunch. Make it yourself," O'Leary said.
Ask yourself every time you're about to buy something: Do I really need this?
It's all crap you don't need, and that crap could have been earning you market returns of anywhere from 8% to 10% over your entire lifetime.
"You'll become very productive and a very valued employee," he said. "Filtering out the noise helps you to 'avoid getting sucked down that vortex' and falling short of achieving your most important goals," he added.
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