How to Avoid the silent wealth killer... Lifestyle Creep
In this episode of the Retire Early Retire Now podcast, host Hunter Kelly, addresses the topic of lifestyle creep—the gradual increase in spending as income increases, particularly affecting high-income earners. He explores how to identify lifestyle creep, its detrimental long-term effects on financial goals, and practical strategies to mitigate it. Suggestions include setting clear financial goals, automating savings, practicing mindful spending, avoiding debt, and revisiting financial plans periodically. The episode underscores the importance of aligning spending with long-term financial objectives to prevent lifestyle creep from undermining financial independence.
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