Early Retirees Share 13 ‘Stupidly Simple’ Money Rules That Helped Him Save $1 Million: ‘I Wasn’t Born Rich’

Our passions, which tend to be more on the creative side, can’t always pay the bills – our strengths do.

Mine, for example, is photography. But my strength is in computer science. In 2004, my starting salary as a software engineer was $55,000, and by 2016 I was earning over $100,000. I am not sure if I would have earned that much if I chose to follow my passion.

Combining your hobby with a high-paying, marketable career is less common than you might think. Build a career around something you are good at.

Throughout my career I worked with many rich people. I took notes instead of envying them.

I will never forget Brian, with whom I worked after college. He was a few years older than me and had driven a six year old Honda Accord. Even though he was a millionaire, he had an inexpensive Casio watch and was not wearing designer clothes.

Bryan was always the first person in office, never engaged in office politics, and often volunteered for greater responsibility. He didn’t come with money. Instead, he earned his wealth by investing and controlling his spending.

If you only hang out with people who like to drink and spend money at bars, you’ll probably follow those same money-taking habits.

I upgraded my life by upgrading my friends. I connect with the top performers in the office. I spent extra time with people who were more successful than me. My mission was to build a relationship with them. His habits broke on me. We inspired each other.

I started making better money decisions and stopped drinking. At work, I regularly worked overtime, and I asked for pay increases and promotions – just as high performers did. It worked.

I invested in my employer-sponsored 401(k) and the company got a 4% match, which was free money that my employer contributed on my behalf.

Some companies also offer health savings accounts, or HSAs, to help employees save pre-tax money for qualified medical expenses such as deductibles and medications. The beauty of an HSA is that it acts like a 401(k) later in life. After you turn 65, the unused money can be withdrawn for any purpose.

Your full-time job can also provide educational and training opportunities to help promote your marketable skills, such as computer programming, accounting and time-management. These skills can be used to gain promotion and growth throughout your career.

Taking on a new job is often the easiest way to get a raise because negotiating a higher salary is a natural part of the process.

Every time I switched companies I got an increase of 15 to 20%. This is much higher than the typical, 3% cost of living many employers offer their employees.

Just be careful not to switch companies too often. Try to stay in each role for at least a year, as some employers will not hire candidates who change jobs frequently. The hiring and onboarding process is expensive.

I used the automatic payroll deduction for my 401(k) and Roth IRA. I also used automatic bank transfer to contribute money to my brokerage account. This helped make sure I was saving money with every paycheck.

I also enrolled in auto bill-pay for utilities like electricity, water and even some credit cards. I never missed a single payment and avoided late fees, interest payments and other penalties.

An unfortunate part of doing anything important is that you will get hated. Sometimes, a lot.

People will criticize you for spending money differently. You could be losing friends if you decline those weekly happy hours at your local bar. It’s not always easy, but ignoring hate is an integral part of building wealth.

Just because your neighbors bought a new car, boat or house doesn’t mean you need to.

The best way to ignore the Joneses is to stay focused on your goals. My wife and I talked about our future hopes every night as we walked our dogs around the neighborhood. It helped to put our goals front and center in our minds.

We don’t let other people’s spending habits affect us.

Often, spouses have different ideas about spending habits, goals, and dreams. If left unchecked, these differences can lead to arguments and other problems in the relationship that prevent you from achieving your financial goals.

Healthy relationships depend on open communication with your partner, so you can align on goals and what makes you happy.

Talking every day about our future goals kept my wife and I on the same page about what we wanted our future to look like, and what steps we would take now to make it happen.

Life is about more than just money. Above all, my health is my top priority. Good health makes you happier and more productive, and it also reduces the chances of unexpected medical expenses.

In 2007, I was out of shape and unhealthy. I decided to change my lifestyle by eating better and exercising regularly. Over the next two years, I lost 70 pounds and was in the best shape of my life.

I am 41 years old today and do weight training daily. This year, my wife and I spent $10,000 to build a dedicated home gym on our seven-acre property. It was the best money we’ve ever spent.

Even if I didn’t know how to get offered a job, I always accept the challenge and figure it out as I go.

I remember that one Friday in the office, I was called to a meeting with the CEO of the company I was working for. I was terrified to go in, but it turned out to be the best career opportunity I’ve ever had.

The organization fired an entire management team over me, and they wanted me to be the director of technology information. As a low-level software developer, that giant leap seemed daunting. I had never worked as a manager before and was completely unprepared for such a huge promotion.

My brain told me to say “thank you, but no thanks”, but I accepted anyway. I asked many questions, mentored and gained the experience I needed to advance my entire career since that time.