- The phrase ‘starve and stack’ means to aggressively cut down on your spending for a fixed period, in order to save for retirement.
- The younger you are, the easier it is to carry out the ‘starve and stack’ strategy, as you have fewer financial responsibilities and burdens.
- There are a number of ways to execute the plan, from maxing out employee 401(k) contributions, to eating out fewer times a week.
If you want to change the trajectory of your financial future for the better, ‘starve and stack’ may be right for you.
I’ve written about what ‘starve and stack‘ is, but in this article I will show you how to execute it.See the rest of the story at Business Insider
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See Also:
- A financial planner shares the 3 most common money mistakes millennials make—and how to avoid them
- The rich are much richer than many of us realize, and it’s a result of the way we measure wealth
- This is how Warren Buffett accumulated his wealth over time — here’s what we can learn from it
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