Fabulous Must-Read Article From "Get Rich Slowly"

by Katy on April 30, 2009 · 3 comments

Want to know the secret to becoming a millionaire? Well Get Rich Slowly’s J.D. Roth sat “John,” his next-door-neighbor down to glean how he achieved financial freedom on a teacher’s salary.

There’s nothing tricky or ah-hah about it. It’s just spend less than you earn, turn off lights when not in use and learn to cook from raw ingredients. Add some smart investing and then you too can retire at age 58.

When he explains that “It’s okay to buy used,” I think my heart skipped a beat.

Click here to read this wonderful interview for yourself.

Katy Wolk-Stanley

“Use it up, wear it out, make it do or do without.”

{ 2 comments… read them below or add one }

Jeanine April 30, 2009 at 2:35 pm

That’s a very nice interview.

That being said, I’ll say this. Every self help book on personal finance, spending, thriftiness blog, etc always toutes spend less than you make. I 100% agree with that.

I would skip backwards blindfolded for someone to tell me HOW to spend less when you make $7.50 an hour, not on any government assistance and don’t qualify for Pell Grants to further your education. Sure you could take out a loan, but isn’t the whole purpose of this is to not make debt?

I have one general question: How can you save or invest what you don’t make?

Can someone start me off from being a junior in high school…and lead me from there. Because, in theory…at that age there should be no debt. It’s too late for me, but not for my daughters. I’ll take all the help I can get.

My granny once said she lived her life on the salary she made when she first started working. I saw with my own eyes that she did just that, but I honestly can’t see how that is possible these days., especially if you start off behind the curve.


lala2074 May 1, 2009 at 12:04 pm

I had read the interview earlier this morning. It is a great interview, with an interesting man.

I also read the comments to the interview, to which there were many viewpoints. Also, lots of bellyaching about teacher pensions.

His lifestyle isn’t going to suit everyone. And everyone’s situation is different, different incomes, different families, different countries, different priorities.

But the point is that you just take the bits of wisdom, be creative and tailor them to your own life.


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