process
Accessible Wealth First
The rule
Build money you can actually reach before locking it all away till old age.
Where it flips
Keeping everything reachable means you may spend it and never build the locked, long-term nest egg. The repair is to build a reachable base first, then steadily lock more away.
Retirement funds are good, but you cannot touch them for decades. In your early years you also need money you can reach. Reachable savings let you take chances, change jobs, or start something. So build usable wealth first. Lock money away only after you have a base you can actually use.
A worked example
Rohan puts some into a normal fund he can withdraw, not only his locked retirement account. When a good chance comes, he has money ready. [illustrative]
How to spot it
- ·All your savings are locked till retirement
- ·You have no money to grab a real opportunity
- ·You cannot touch a single rupee for 20 years
Scott Trench · Set for Life