Comments on: Get Rich Quick – The BNL Way (part 1 of 3)

By: Brave New Life

Brave New Life — Fri, 26 Apr 2013 15:22:19 +0000

Sorry Renee, parts 2 and 3 are still locked up in my thick skull. Eventually, I will get around to writing them… I promise.

By: renee s

renee s — Fri, 26 Apr 2013 14:57:42 +0000

where are the other parts? haha I cant find them!

By: Matthew

Matthew — Fri, 12 Oct 2012 10:21:52 +0000

I love your definition of rich! I stumbled across your blog yesterday while reading up on Lending Club and now I read this post talking all about Passive Income and getting rich. I’m now addicted! Passive Income is my ultimate goal – and now I look forward to the day that I can tell everybody I am rich, based on your definition.

One thought about the enjoyable income though. I work as a trucker at my day job and enjoy it very much. The problem though is that the hours are very long. Usually at least 10 per day. I don’t wish to complicate your equation, but how can that figure in? Enjoyable income/hours worked?

By: Charleen Larson

Charleen Larson — Thu, 27 Sep 2012 19:42:42 +0000

I smiled when I saw your comment on the get-rich-quick product at $37, because I knew exactly what you’re talking about. I hang out with some of these people. The best of them truly concentrate their energies on producing a valuable product which, if you follow their teachings and put the work in, will likely bring you at least some return. Most people don’t, though. They spend the $37, read it and put it to one side. They’ve had their thrill, dreaming about the good life.

But there are tons of these people who don’t provide value and are just in it to rip people off. Every now and then they get big enough for the FTC to notice and there’s another well-publicized bust. Oh well.

I agree with your concept of riches. I know a man whose name literally means “rich life”. He can never forget his goal; he sees it every time he writes a check!

By: The Retirement Identity Gap | Brave New Life

The Retirement Identity Gap | Brave New Life — Tue, 25 Sep 2012 16:37:23 +0000

[...] As I see it, there are two solutions for this. The first is to retire as early as possible, making room for your passions. Because I’m so close to retirement (9 months), this is the path I’m following. Unfortunately, this is not possible for many people (at least until they get rich quick). [...]

By: Charlotte@TheCCI

Charlotte@TheCCI — Mon, 27 Aug 2012 04:05:31 +0000

This has me smiling. You have quantified something that I already knew – I am filthy rich! Love my life, am comfortable, and working on making some much needed financial adjustments for my future – but rich none the less. Thanks!

By: Value Indexer

Value Indexer — Thu, 09 Aug 2012 23:06:35 +0000

It’s true that it doesn’t make you super-wealthy, but it does free up your life. It’s almost like getting out of debt in that sense. Maybe you could call it “getting out of dependence”. Then you can go around asking people if they have a plan for getting out of dependence soon or if they just want to be stuck in it for the rest of their lives

By: Sean

Sean — Thu, 09 Aug 2012 14:59:28 +0000

Wow, I’ve just started a series on this exact concept. I’ll be sure to link to this in my next installment.

Great post – I love the simple formula especially.

By: Tyler

Tyler — Wed, 08 Aug 2012 06:44:25 +0000

“Richness = (Passive Income + Enjoyable Income) / Desired Expenses”

So simple, but very insightful. Thanks!

FI calculations and safe withdrawal rates are very helpful for understanding finance, but miss that last “enjoyable income” part of the equation which is actually a very big factor for early retirees.

By: Brian

Brian — Mon, 06 Aug 2012 14:25:32 +0000

That’s a great definition! I was sold at the first equation, but adding enjoyable income makes total sense.

I think I’ll go off and compute our BNL richness ratio now!