Four Rules I Followed To Get Wealthy

I guess we’re rich now. It’s not a huge surprise. As a resident, we made a plan to get rich. We then followed it.

It was a good plan and so it worked. In fact, it worked a little faster  than we had expected, but even if it hadn’t, we would have gotten rich  eventually anyway.

Four Rules I Followed To Get Wealthy

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Credit is pretty easy to get. In fact, the wealthier you get the more credit that becomes available to you.

Always Pay Cash

I expect to put several hundred thousand dollars on a credit card this  year since all of our taxes and most of our expenses now go on there.

Always Pay Cash

This rule is a commitment we actually wrote into our Investing Personal Statement.

Always Max Out Retirement Accounts

Ever since residency I have been a student of retirement accounts. Eventually I was asked to write the chapter on IRAs for The Bogleheads Guide To Retirement.

Always Max Out Retirement Accounts

The real key to wealth/financial independence is to own stuff, and when I  say stuff, I mean stuff that makes you richer, like businesses.

Own Stuff

For example, when I came out of the military, it was very important to  me to join an emergency medicine group where I would be a partner, i.e.  an owner.

Own Stuff

There is an interesting characteristic I have noticed among many, but obviously not all, wealthy people. They give money away.

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