Comments on: Book Review: Automatic Wealth by Michael Masterson http://www.mightybargainhunter.com/2006/03/07/book-review-automatic-wealth-by-michael-masterson/ Personal finance, commentary, and spending less the easy way Wed, 17 Mar 2010 19:08:04 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: mbhunter http://www.mightybargainhunter.com/2006/03/07/book-review-automatic-wealth-by-michael-masterson/comment-page-1/#comment-901 mbhunter Wed, 08 Mar 2006 07:12:39 +0000 http://www.mightybargainhunter.com/2006/03/07/book-review-automatic-wealth-by-michael-masterson/#comment-901 Thanks for posting a comment Dus10! Excellent career moves. You're ahead of where I am in the career-moving phase. Have you read the book? If not, I think you'd get a lot out of it. Thanks for posting a comment Dus10!

Excellent career moves. You’re ahead of where I am in the career-moving phase. Have you read the book? If not, I think you’d get a lot out of it.

]]> By: Dus10 http://www.mightybargainhunter.com/2006/03/07/book-review-automatic-wealth-by-michael-masterson/comment-page-1/#comment-887 Dus10 Tue, 07 Mar 2006 17:19:35 +0000 http://www.mightybargainhunter.com/2006/03/07/book-review-automatic-wealth-by-michael-masterson/#comment-887 I really like taking the principles from both types of methods. I think reducing your expenses and debt is a very good thing to do. Then, start an automated way of slowly saving to get to financial independence. Once you get started down that road, though, and you can see how it is almost guaranteed, then you need to work toward a way to short-circuit that from 30-40 years, to 10-15 years. That is what I am doing. I took a job about 5 months ago that gave me a 40% raise... although that really only brought me to where I should have been at my previous job. While I make more money, I am not really progressing the way I would like to, and I am slowly looking for a different job. It is easy to look for a new job when you are pretty comfortable with what you have. I am looking for a job with more responsibilities and a pay increase of at least another 16%. Beyond that, I am starting a business that will be inline with my current employment. However, I do not want to venture that far until my wife gets out of school and gets a job as a nurse with decent benefits. Plus, I am looking to refinance my home next January, and I need to show that I have regular income to qualify. So, multi-pronged is the way to go. I really like taking the principles from both types of methods. I think reducing your expenses and debt is a very good thing to do. Then, start an automated way of slowly saving to get to financial independence. Once you get started down that road, though, and you can see how it is almost guaranteed, then you need to work toward a way to short-circuit that from 30-40 years, to 10-15 years. That is what I am doing. I took a job about 5 months ago that gave me a 40% raise… although that really only brought me to where I should have been at my previous job. While I make more money, I am not really progressing the way I would like to, and I am slowly looking for a different job. It is easy to look for a new job when you are pretty comfortable with what you have. I am looking for a job with more responsibilities and a pay increase of at least another 16%. Beyond that, I am starting a business that will be inline with my current employment. However, I do not want to venture that far until my wife gets out of school and gets a job as a nurse with decent benefits. Plus, I am looking to refinance my home next January, and I need to show that I have regular income to qualify.

So, multi-pronged is the way to go.

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