to upgrade
Ideas from books, articles & podcasts.
created 8 ideas
Understanding the level of financial Independence.
RETIREINPROGRESS
retireinprogress.com
STASHED IN:
850 reads
Financial Intelligence is awareness. Knowing the basics before trying to control them. Do you know whatâs your Net Worth? Do you know whatâs your Cash Flow? Your Incomes? Your detailed Spending? Do you know what are the interest rates of your liabilities? Do you know your actual ...
Financial Integrity means taking actions. Once you have a good picture of your situation, itâs usually easy to find and grab low hanging fruits. So, strategies like cutting superfluous expenses come natural and they are easily implemented.
What will happen when you start t...
You may be enjoying the freedom not having to think about next paycheck brings to your life and start saving, building an Emergency Fund. Eventually, when you have enough cash to survive a year (people recommend 3-6 months) without working, youâll stop hoarding cash and startÂ
You may also work on the earning side of the equation: once you âstash a year of salary you may consider working part time and take some classes or learn a new skill or start a side gig to boost your earnings. You may realize your commute takes too much time and itâs costing you ...
Financial Independence means tasting freedom. You no long have to work to maintain your lifestyle, since your money are working for you instead. Your passive incomes (like stocks appreciation, dividends, rental properties income,âŚ) cover your living expenses and youâre free to ch...
Freedom here stands for freedom from selling your time for money. You no longer need it. Youâll rely on your passive incomes robustness, like betting on average market returns of 7% per year (inflation adjusted) on the long run or a combination of good tenants, rent/house appreci...
Financial Freedom means removing money from the equation.
True financial freedom is when you have almost military grade security measures against unplanned events. Rock solid financial integrity with a monthly budget well beyond your most desirable spendin...
4 Reactions
Comment
created 8 ideas
180
1
17.2K reads
created 5 ideas
12
Comment
4.93K reads
created 8 ideas
101
Comment
25.1K reads
â¤ď¸ Brainstash Inc.