I was stuck in traffic again. It already took me an hour to commute to my cubicle job each day, but now it looked closer to two. Thanks train, thanks accident under the overpass, and thanks rain for pouring down in buckets.
As I sat in my old car I began to wonder if this really was what the next forty years of my life were going to look like.
I was fresh out of college and in my first entry-level job. My name was on my cubicle wall and I was so proud of myself. I had worked so hard in high school and college and now it was all paying off I thought.
I’ve arrived. Except, that as I sat in that traffic again, I still questioned if I actually had.
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My whole day was controlled by my day job. And as each day passed, I realized it stole something from me: my time and freedom.
All my freedom was gone. I only had a couple of days off a year and if I wanted more that wasn’t an option. I only had one choice for the hours I worked and there were no alternatives. I didn’t even get to choose when my lunch break was.
It actually kinda sucked. And that’s when my researching part of the brain kicked in. I want to know if others had escaped this sort of lifestyle before the official retirement age of 65. Basically, I wanted to have hope that there are people out there that are not following the trends of our society.
And so I began picking up books about how to retire early, how to become financially independent, and how to make a million dollars that you could live off of the rest of your life. It was fascinating.
I still research constantly even today and love that new books keep coming out about retirement, like Chris Hogan’s Everyday Millionaires, and the FIRE movement, which means Financially Independent, Retire Early.
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And as I read and researched I realized that you can retire early! You can be a millionaire in your 20s! And it’s easier than we all think.
You can break the mold of society and pursue something that you can never earn back. It’s probably life’s most valuable resource, and that’s your time.
Your time is yours to control, yet so many of us spend so little time even managing it or focusing on it. We want it yet choose short-term possession and instant gratification because we have the “give it to me now mindset.”
While one of my favorite books, Early Retirement Extreme, goes into this a lot deeper, today we are focusing on something that isn’t quite as extreme but is certainly achievable for anyone that puts their mind to it!
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Overview of Chris Hogan’s Everyday Millionaires
Chris Hogan’s Everyday Millionaires is a compelling book because he really does let every single person know that they can become a millionaire.
All excuses aside, anyone can do this. But I know, a lot of you probably don’t believe him or me. This is why you should grab a copy of the book and read it.
When you think about the salaries most people earn from 20 years old to 60 years old, they can make millions and millions of dollars. Yet, if they were to look back, they have no clue where that money all went.
It is so easy for us to spend our money now. There is currently no desire for savings across the entire nation. If we have extra money we go and spend it.
And that’s what I appreciate about Chris Hogan’s Everyday Millionaires. Chris shows us that making a million is extremely doable over our lifetime.
Chris comes from Dave Ramsey’s office, as a co-worker that preaches the same message but specializes in retirement. Everyday Millionaires is his second book and will be a wild success, no doubt about it.
It is called the modern version of the Millionaire Next Door by Thomas Stanley and is intriguing to a lot of people living in financial turmoil. He gives hope to all of us, that no matter what age you are right now, you can start building wealth.
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Because of Chris Hogan’s Everyday Millionaires, and Dave Ramsey’s Baby Step Plan, I have been able to pay off debt and begin growing my financial plan. It is easier to build wealth than we think and it all starts with being intentional about our money and how we use it.
If you earn a lot of money, yet still don’t seem to have any money in the bank, then you suffer from a poor mindset and as a result, poor habits. Putting things on your credit card and paying the monthly payment, being chained to a job because you have a mortgage payment for the next 30 years, and having nothing in retirement savings is not living.
Chris Hogan’s Everyday Millionaires shows us that you can easily become a millionaire when your mindset is long term when you work hard to save, and when you realize that downsizing is a great alternative.
He suggests putting a lot of your money in retirement plans, starting at 15% and then maxing it out when you can, especially company 401(k) plans where you get a company match. If you have more questions, go to the end of this post where more tools on how to locate this are listed.
What Does Chris Hogan’s Everyday Millionaires Have For 20-Somethings?
This book is such an important read for all 20-somethings out there, and I can’t recommend it enough for those of us (me included!) just getting started on the path to financial and time freedom, and building wealth.
And if your not a 20-something, this book has just as much in here for you, so go and grab yourself a copy today. Don’t wait to change your mindset until it is too late.
This book will show you that your 20s are a perfect time to get your money mindset in the right place. We need to change from spending money on trivial wants now, to long-term goals.
It is important that 20-somethings recognize the power of savings, especially if they start now. Think about it. If you work extremely hard to pay any debt you have as fast as you can, then you will be bringing a good size salary which you can dump part of into a retirement account and save the other part.
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Your life will be hugely set up for success before you are 25 and you will be able to retire early if you keep the habits going! Who doesn’t want that?!
In our 20’s, we start out living frugally anyways. At least this is for most of us. We come out of college where money was tight and we ate cheap foods because that’s the lifestyle in college. And even in our 20’s if you’re not in college, you still don’t have large enough paychecks to live extremely luxurious.
But here is where the huge problem of our culture comes in: lifestyle inflation.
That’s exactly what one of the biggest problems of 20-somethings is in today’s world. Instead of living frugally in our 20s, paying down debt, saving for retirement, a house, a car, and other life goals we decide to upgrade our lifestyle.
Our lifestyle suffers from inflation and becomes bigger than we need. We have expensive items that we really don’t need, yet want to have to keep up with our friends and co-workers and appear successful.
Related Post: How To Manage Your First Real Paycheck After College
One of the best pieces of money advice I got tight of college was, as your salary increases don’t let your lifestyle. And that’s exactly what I do.
I drive the cheap crappy car, I live in the super cheap ghetto-looking apartment (don’t worry it’s safe!), and I make meals at home instead of eating out all the time. Retail therapy is not a thing for me and even though I maintain a fresh appearance, it is not a lifestyle expense.
The term “frugal” is not sexy or attractive. I know this. And boy, that new paycheck after you finally make some good money, is so tempting to spend. But here is where, by changing your mindset today, in your 20’s, you could change your whole life.
Chris Hogan’s Everyday Millionaires And Being A 20-Something Grandma
I created this blog because I am so passionate about helping 20-somethings live a better life.
I’m not just saying that either. It seriously riles me up inside when I see people wasting away their 20s and making poor decisions right out of college because your 20s are a defining decade.
Your 20s are the decade where you are able to set up the right habits for your life – the habits of success or the habits that cause you to keep working for them for the rest of your life.
This decade of your life is a chance for you to create the life you want to live. It is your big shining moment if I’m honest. It is where you finally get to call the shots, and whatever shots you call could determine the decade to come.
So, when you think about your 20’s, are you just wasting them away? Are you waiting till you hit 30 to start taking life seriously? What decisions do you make every day that affect your future self?
Now, I’m not saying that I know the answer or that I’ve arrived. But I am saying that I want to encourage you to reconsider your 20s and think about how they are key years of your life. Being frugal now, not letting your lifestyle increase when your salary does, and focusing on paying off debt and saving could be the difference between happy years in the future or ones where you are financially enslaved.
The values of GoodPointGrandma include thinking long-term over short-term, experiences over things, and others over self. If you are interested in joining our community be sure to pop your name in the email box below.
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Tools From Chris Hogan’s Everyday Millionaires To Use
Chris provided a lot of great tools in his book Everyday Millionaires as well that will be really beneficial to a lot of people.
You can see your net worth today here.
This is an amazing calculator as well to see where you fall on your savings and investing plans.
Here’s where you can check how to retire early.
Overall, I thoroughly enjoyed Chris Hogan’s Everyday Millionaires and believe it is a book everyone should be reading. Yes, it will give you the steps to becoming a millionaire, but more importantly than anything else, it will change your mindset.
It will show you that by changing your lifestyle and setting up better financial goals, you can experience a better life. And yes, anyone can do it.
No more excuses. It’s time for long-term, millionaire mindset goals.
Do you agree? Have you picked up this book before? Let me know in the comments below.
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Kelsey at GoodPointGrandma
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It seems really useful, and beautiful, this book, who knows I should not give him a peek and enjoy it a bit ‘!
Yes, I highly recommend(:
My wife & I have literally been chatting about our finances this evening and then I read this!! Coincidence??
Haha glad to help!!
I agree, in that I believe it is important to pay debt early and try to save as much as we can. I am actually doing something abut this this year, as I have started saving from my paycheck as soon as I get it instead of at the end of the month, when there is not much left! I will try to get my hands on this book!
Totally. Pay yourself first always! Thanks for sharing Irina!
This book look so useful. I’m definitely going to buy it. Thanks for such a detailed review.
YAY!! Glad you are interested!
No doubt, it’s gonna help a lot of people. I have always been a fan of books similar to this. It gives you direction and being able to think of sensible things thoroughly.
Exactly, and that direction is much needed for us 20-somethings!
Well written post. I plan on an early retirement. Would love to read the book. Thanks much.
Sudipta, that’s huge!! Congrats!
It is hard to save though because I am in a lot of debt. I could save a little at a time but someday, the government want that little bit.
If you begin tackling your debt, you can pay it off faster than you think. Then you’ll be able to see your accomplishments when you save! You got this! Half the battle is believing you can.
Looks like a very interesting and useful read. I believe debt should be paid off as fast as possible. It is so liberating to have none.
I know Lyosha, it really is!!
I’m in my 40’s and working a corporate exec job….I think I need to snatch up this book and use it to become a millionaire in my 40’s (20 years late, but I think I can make it work for us, lol). Love the review of this must read!
You’re not late at all Tracy! This read would be perfect for you! Thanks for the compliment(:
It’s always a terrible thing to be stuck in traffic every single day. Totally a waste of time since we could have done other important things than sit in front of the wheel. Glad you were able to find the formula to live the most fulfilling life. Wait there’s more, you are sharing it! Thanks a whole lot!
Thanks Sheena! It’s a journey, but I’m glad I could help with what I have learned so far(:
That’s right! It’s something we need to think about, retirement, finances, time for a relaxing time after a hard work
Exactly Genny!
That’s great you have a heart for the 20-year-olds out there too. And it’s always good to help them out when it comes to saving. It’s always important.
Totally agree David, thanks!
This book sounds really interesting. I’ve always tried to be a saver but have struggled immensely with it now that I’m married and have a child. I managed to pay for my 7 years of college and travel abroad but never increased my income post-college, so now with 3 instead of 1, I just try to get by. I will pick up a copy, maybe it will help me to get out of the place I’m at and at least get me saving again.
I think this book could be just what you need Jennifer(: so glad you are giving it a shot!