6 Steve Adcock's Financial Rules

Self-made millionaire Steve Adcock retired from his job as a software developer in 2016, when he was just 35 years old. Over the years he has curated lots of tips for building wealth.

“I started thinking about all of the pieces that most people put into place to reach financial independence. I went down from 20 rules to really just the six most important ones.”

Getting rich means different things to different people. Adcock says: “I think lots of people equate a high salary, like making lots of money, to getting rich. I think there is an element of truth to that. But to me personally, the term ‘rich’ is synonymous with building wealth.”

Build a 6+ month emergency fund

If you don’t have an emergency savings account, Adcock warns, “you’re living at extreme risk.” Not only will you be ill-prepared for unexpected expenses such as medical bills, but you may also have to resort to a high-interest credit card to pay them, which “kills your ability to build wealth,” he says. Having an emergency savings account is more essential now than ever before. It’s so important to have liquid cash, especially now that we’ve experienced this pandemic and there’s still a lot of uncertainty.