A publicist from U.S. News and World Report wrote about the beliefs of Jeff Yeager, author of The Ultimate Cheapskate’s Roadmap to True Riches. Jeff and I share some of the common strategies to wealth creation and early retirement.  I believe wealth takes time to accumulate; yet it isn’t as difficult as most people think.  We can retire in our 40′s like Jeff and his wife did if we are smart and depending on what quality of life we are really after.

In this article Jeff mentions that he doesn’t “write about penny-pinching tips” in his book.  He focuses more on “quality-of-life and happiness issues” like deciding how much is enough for you.

My wife and I have had that conversation several times the last year.  I really believe in a simple life; a life without big fancy cars and homes. Most wealthy people; the “truly wealthy” live a simple life compared to the amount of income they earn.  They are smart with their big purchases buying used yet reliable vehicles like Honda’s, they pay off their mortgages early, they only use cash and not credit when purchasing anything.

I am in my early thirties.  My wife and I plan on having our mortgage done in our early forties at the latest.  Jeff mentions your first home is the one you plan on staying in forever; pay it off and move on, you don’t need to keep getting bigger and better homes.  I agree!  That is what Warren Buffet did.

I would much rather put money toward mini retirements and vacations along the way instead of being house or car poor.  I follow this “outdated” advice and it has worked well for me and my family; pay cash for everything and if you can’t afford it don’t get it.

There is one thing I don’t mind spending money on and that is a great education.  I’m not talking about just a college education.  I’m talking about investing in self improvement books, finance books, nightingale conant audio programs etc.  Fill your brain with material that will uplift you and make you a better person in every way.  Don’t go cheap on education!

http://finance.yahoo.com/news/How-to-Be-a-Savvy-usnews-3454225752.html?x=0