Browsing through some archived documents this morning, I came upon a list of my financial tenets from Get Rich Slowly.
When I started that site in April 2006, I didn’t know much about money. In fact, my financial life sucked. I went into the project with a proper beginner’s mind, though, trying to set aside everything I thought I knew about money. The only thing I thought knew for sure? “There’s no reliable way to get rich quickly; there is, however, a proven path to get rich slowly.”
Over time, however, I developed a financial philosophy. As I read and wrote, as I talked with readers and colleagues, and as I made changes to my own life, I developed a series of simple rules and guidelines.
These tenets evolved with time. I think there were eight at first, but by the time I created the Get Rich Slowly course, the list had expanded to fifteen. And each of those fifteen tenets had been refined and polished through ongoing exploration.
Reading through the list this morning, I realized it needed an update. Since I left Get Rich Slowly in 2012, my philosophy has continued to evolve. I now know there is a reliable way to build quick wealth, for instance. If you maximize your profit — the amount you save each month — it’s possible to become financially independent in a matter of years instead of decades. It’s great to get rich slowly, but you can do better — if you’re willing to make some changes to your lifestyle.
So, I took a couple of hours today to re-write my core tenets. Some have changed significantly. Others are much the same as they’ve always been. Plus, I added a couple of new ones to the list. In the end, I came up with the following eighteen financial tenets that make up the Money Boss philosophy. [Read more…]