“What got you here, won’t get you there” is a phrase I find myself thinking about from time to time.
Sometimes, the skills that got you where you are may not suit you into the future. It’s just how life is.
And sometimes, it refers to the tools in your life. Today, we see that with Fritz and his 401(k).
Saying Goodbye To The 401(k) [The Retirement Manifesto] – “She [My 401(k) served me well during the Accumulation Phase when I was diligently dollar cost averaging with every paycheck. But the past is the past, and she’s no longer meeting my needs in the Withdrawal Phase.” A good write up of why Fritz rolled out his 401(k).
Pairs nicely with his guest post on Budgets Are Sexy back in 2017 on how he became a 401(k) millionaire.
Advice For New College Grads [The Enlightened Caveman] – “The first thing to realize is that the 9-5 grind and the option are almost totally incompatible. What I mean is that you may have to work the grind for a while as you’re getting yourself set up, but the goal should always be to abandon the grind as soon as you can get what you need financially without it. Don’t fall into the trap of taking the first corporate job that falls out of the sky simply because you’ll be making real money for the first time. Many a listless and unsatisfied middle-ager was created by starting in corporate America with grand dreams only to be trapped by financial responsibilities that precluded the ability to take a risk when the time was right. It’s so easy to get sucked in, start spending more than you make, and then be shackled to the corporate ladder forever more. Be responsible with your money right now (more on that later).”
30 Things I’ve Learned About Money In 30 Years [Vee Frugal Fox] – “25. Financial literacy is invaluable and can change generations. Don’t underestimate passing down knowledge.”