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The Latte Factor

The Latte Factor: Getting Rich by Cutting Out Coffee (Not!)

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The Latte Factor & The 3 “Secrets” of Financial Independence

The FI community curses the latte factor as a reason for not being rich. Also, many discuss the latte factor without the underlying concepts mentioned. Thus, the latte factor is an example of a daily expense that grows exponentially when invested.

Through a third-person narrative, Bach mentions 3 “secrets” to financial independence. These secrets are paying yourself first, making it automatic, and living a rich life now.

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structure and flexibility on a desk

Adding Structure and Flexibility Into Goals, Routines, & Systems

Structure and Flexibility In My Personal Life

There are a few different ways that I add structure and flexibility into my daily habits. The daily outline I made up for myself has ample downtime as well. Time for work, socializing, my relationships, and fun are all considered. It is not a “schedule.” This outline allows me to be more open to changes in my daily life.

I also use a certain vocabulary with myself to stay on track of progress. For example, I have an eating plan rather than a diet. I use a spending plan instead of a budget. The path to retirement is a journey, not a plan. My career is a path, rather than a ladder. My mindset is that of a student, always growing and learning. Practicing mindfulness meditation rather than trying to not think or stop thoughts, is how I meditate.

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