Most people always dream about a life without any problems. Where we going to spend most of our time with the family. And at the same time, we’re still earning our incomes from our 3-days work weekly. Or maybe 10 hours working per work, and still not stuck within the rat race.
Wow, that life must be amazing. We couldn’t wait to run from all the sprint and rat race that we being chased off. But is it possible?
Yes. Steve Adcock, a financial expert who writes about financial freedom couldn’t emphasized it more that it is possible.
He had his early retirement at the age of 35. Been working as a software developer for more than 10 years, he decided to leave his tech career. He is now focuses more on writing about financials and money freedom. His writings can be found in MarketWatch, Forbes and Business Insider.
From his Twitter account, Steve Adcock shared his 6 strategies which is simple to follow, in escaping the rat race life and be free financially.
1. Choose a high-paying career
Steve has a passion towards photography and his qualification is in computer science.
He didn’t follow his passion but instead choose to pursue the strength from his qualifications. Average salary of a computer scientist is around $109,000.
For him, the key to be successful is in choosing the right career to grow. As a software developer, his salary enable him to pay the bills and saving more money. From the small saving fund, he able to grow it even further with the high income job.
2. Learn from the Millionaires
Envious towards the lifestyle of the rich and the millionaires always happened. But at the same time, Steve advices us to actually learn about the millionaires’ habit instead. He actually ‘took notes’ on the habits, watch their lifestyle and routine. Try to follow them, day by day.
To Steve, the rich can be our best teachers if we are looking to build the wealth. It is not difficult to follow them nowadays. Since they have their own social media account, sharing their daily routine, it is easy for us to be inspired.
3. Cut the losers
We always hear this advice from anywhere but Steve prove that this trick pays off. He leave all his jealousy friends and co-workers. The dead weight of his toxic friends influenced his journey negatively.
Select our network properly. High quality friends is important in order to maintain our growth mindset.
4. Exploit the 9-5 job
While he still working in the corporation, Steve exploited the 9-5 job. He took the advantage of the 401(k), Roth IRA and the brokerage account. He used the automatic deduction feature to his salary, into each of the accounts. He never fails on saving from every of his paycheck and never revisit it again.
5. Switching companies within the working years
According to Steve too, he did switching to companies for 5 times in his 14 years of career. With every changing job, he managed to have increment in his salary from 15% to 20%. Even though he was ‘happy’ in his current job but he always kept his door open for any new opportunities. Steve believes this tactic is the best way for him to improve his salary status. He needs to keep exploring and adapt to new place and at the same time, enjoy the the salary raise while he can.
6. Automated Everything
‘Automated Millionaire’. That is Steve’s term in his journey in achieving the status of a millionaire. He’s applying the automatic bank transfer for his saving and investing. The automatic salary deduction become easy, efficient and interesting to do.
He believes by auto-deduct, set and forget, helps him getting his first millions. Within his 30, still working 9-5, the focus in saving and investing need to be helped by external push. And one of them is the auto-deduct feature.
Want to know more about the story of Steve Adcock? In the next article, you may find out about how he leave his 9 to 5 job and achieve his financial freedom in his 30s.
Credit Note : These tips was shared by Steve Adcock in his tweets.
