Financial Freedom - When you control your finances instead of being controlled by them
Financial Freedom gives you the ability to do WHATEVER YOU WANT 😉
Let's break it down ⏬
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Financial Freedom gives you the ability to do WHATEVER YOU WANT 😉
Let's break it down ⏬
//Thread//
1. Awareness & Organization 📄
You need to get your finances organized
Where's your money coming in? Where is it going out? The more awareness of your money the better
A budget is king for this, check out apps like @PersonalCapital and @mint 📊
You need to get your finances organized
Where's your money coming in? Where is it going out? The more awareness of your money the better
A budget is king for this, check out apps like @PersonalCapital and @mint 📊
2. Emergency Fund 🕊
You should always have at least six months worth of expenses saved up
You never know what life can throw at you, that's why an emergency fund is absolutely essential
Save some cash and put it somewhere easily accessible
DO NOT undermine this step 🤬
You should always have at least six months worth of expenses saved up
You never know what life can throw at you, that's why an emergency fund is absolutely essential
Save some cash and put it somewhere easily accessible
DO NOT undermine this step 🤬
3. Employer Investments 📔
If your job offers retirement plans, take em and max them out as much as you can
- 457s
- 401Ks
- 403Bs
- SEP Plans
- Roth 401Ks
- Pension Plans
Take advantage of these wealth generators, the future you will thank you 🙂
If your job offers retirement plans, take em and max them out as much as you can
- 457s
- 401Ks
- 403Bs
- SEP Plans
- Roth 401Ks
- Pension Plans
Take advantage of these wealth generators, the future you will thank you 🙂
4. Debt ⛓
Pay off all your bad debt! What's bad debt?
Bad Debt - Debt that has no future return
Stuff like car loans and credit debt. These debts just take money out of your pocket
Bad debt inhibits wealth creation so focus on paying off debt and staying out of it ☀
Pay off all your bad debt! What's bad debt?
Bad Debt - Debt that has no future return
Stuff like car loans and credit debt. These debts just take money out of your pocket
Bad debt inhibits wealth creation so focus on paying off debt and staying out of it ☀
5. Personal Investments 💸
Invest into Index Funds/ETFs, Stocks using Tax-Advantaged Wealth Accounts (Roth IRAs, IRAs) and Taxable Traditional Brokerage Accounts
Tax-Advantaged Accounts have yearly limits so max them out first 💵
Invest into Index Funds/ETFs, Stocks using Tax-Advantaged Wealth Accounts (Roth IRAs, IRAs) and Taxable Traditional Brokerage Accounts
Tax-Advantaged Accounts have yearly limits so max them out first 💵
6. Extras 🎁
If Steps 1-5 are done well, Step 6 is where you can have a little fun 🥳
- Invest More (Index Funds, ETFs, Stocks, Real Estate, Alt Investments)
- Increase Emergency Fund For More Security
- Save Up For Stuff You Want
- Pay Off House Early
If Steps 1-5 are done well, Step 6 is where you can have a little fun 🥳
- Invest More (Index Funds, ETFs, Stocks, Real Estate, Alt Investments)
- Increase Emergency Fund For More Security
- Save Up For Stuff You Want
- Pay Off House Early
7. Help The World ✨
Most important steps 🔽
- Give Back
- Participate In Charities
- Make The World A Better Place
"Wealth is not to feed our egos but to feed the hungry and to help people help themselves" - Andrew Carnegie
Most important steps 🔽
- Give Back
- Participate In Charities
- Make The World A Better Place
"Wealth is not to feed our egos but to feed the hungry and to help people help themselves" - Andrew Carnegie
8. Journey Tips 👀
- Don't compare yourself to anyone, focus on your path
- Never mix money with emotions, stay rational
- A lot of people will judge you, fuck them
- When investing, ignore the noise
- Always think long
- Never give up
- Don't compare yourself to anyone, focus on your path
- Never mix money with emotions, stay rational
- A lot of people will judge you, fuck them
- When investing, ignore the noise
- Always think long
- Never give up
Financial Freedom won't happen overnight but it WILL HAPPEN as long as you keep going 📈
Enjoy the journey, stay disciplined, and always think long
I hope y'all found this valuable 🥰
Give it a retweet if you did
Thnx for reading 💕
Enjoy the journey, stay disciplined, and always think long
I hope y'all found this valuable 🥰
Give it a retweet if you did
Thnx for reading 💕
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