Quit Like a Millionaire Book Summary - Quit Like a Millionaire Book explained in key points
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Quit Like a Millionaire summary

Kristy Shen and Bryce Leung

No Gimmicks, Luck, or Trust Fund Required

4.4 (289 ratings)
28 mins

Brief summary

Quit Like a Millionaire by Kristy Shen and Bryce Leung is a personal finance guide offering unconventional yet proven methods to retire early and build wealth quickly by adopting a frugal lifestyle, investing in real estate, and diversifying income streams.

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    Quit Like a Millionaire
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    You’re more likely to make sound decisions if you follow the math rather than your passions.

    In 2005, Steve Jobs gave a commencement speech at Stanford University. His advice to the students? “Follow your heart.” That feel-good mantra rippled around the world. Endorsed by the great and good, it soon came to feel commonsensical – why on Earth wouldn’t you follow your passions and do something you love? 

    Here’s one reason: it’s often the wrong choice. 

    Take the often life-defining decision students make every year about what they’re going to study. That was just what the author, Kristy, was mulling over back in 2000. She had a shortlist of three possible majors – creative writing, accounting and computer engineering. Her heart told her to go with writing; math told her to go for engineering. Kristy followed the latter’s advice. It was a good call. 

    Let’s look at that math. A four-year program in Canada costs about $40,000. Professional writers fall on a spectrum between the unpublished newbie who earns zilch and established pros like Stephen King who earn millions. The average income, however, is $17,000. In 2000, the minimum wage was $6.85 an hour or $14,248 a year. That’s what anyone without a degree could expect to earn, so subtracting that sum from $17,000 told Kristy how much a writing degree was worth: a measly $2,752. 

    An accounting degree, by contrast, was worth around $24,000 more than the minimum wage. Computer engineering meanwhile netted you a whopping $40,000 more every year. 

    But hold up. You can’t put a price on happiness – surely dreams are worth pursuing whatever the bottom line says, right? Well, not necessarily. After all, if you don’t know where your next meal is coming from, you’re unlikely to wake up excited about your work, especially if it calls for creativity. Passions also change over time; a 2013 study published in Science found that the dreams of nearly all of the 19,000 participants had changed significantly over the previous decade. 

    And that’s why it pays to follow the math. Just ask Kristy. Today, she’s a professional writer. The reason she got there is simple: her well-paying engineering job meant she wasn’t reliant on writing to make the rent. Money, in other words, provided her with the foundation which eventually allowed her to pursue her true dream. 

    In the following blinks, we’ll see how she did it.

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    What is Quit Like a Millionaire about?

    Quit Like a Millionaire (2019) is a bold no-nonsense guide to managing your money and growing your wealth. Drawing on Kristy Shen’s mathematically proven approach to saving, investing and spending, these blinks won’t just liberate you from debt – they’ll put you on the road to financial independence. The best news? You don’t need to become an entrepreneur or a real estate baron to get there. All it takes is a spreadsheet and some careful planning. 

    Best quote from Quit Like a Millionaire

    People who spend on experiences get way more bang for their buck.

    —Kristy Shen and Bryce Leung
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    Who should read Quit Like a Millionaire?

    • Workers tired of the nine-to-five slog
    • Hustlers, self-starters and lateral thinkers
    • Would-be early retirees

    About the Author

    Kristy Shen and Bryce Leung both trained as engineers in Canada before deciding to quit the rat race and retire early. Today, they are millionaires and spend their time traveling the world, giving talks and writing articles for their self-help platform, Millennial Revolution. Their inspiring true-life story has been featured in media outlets around the world, including the New York Times, the British Independent, Germany’s Handelsblatt and Women’s Health Magazine in Australia. 

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