Posts in Financial Independence
Why it pays to get intimate with your money - cash flow, budgeting and everything else

The first step is to understand income, expenses and cash flow

Everyone has it backwards - the key to financial independence is not about how much money you make - it’s about how much you’re spending. Step one is to understand your income, expenses and cash flow. Once you know your cash flow, it's easy to come up with money to invest. Make every dollar work like a hundred - if you make over $40k salary you're already earning enough to be a millionaire by the time you're 65.

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Build Wealth by Buying Assets, not Liabilities

What do you spend your money on?

I want you to stop for a second and actually ask yourself this question. Think about the most recent major purchases you've spent money on. Wealthy people spend their money on things that generate more wealth. Simply put, if you spend your money on assets that generate more income for you right now, there is a compounding effect that will provide you with good returns as time goes on.

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Compound Interest - the most powerful force in the universe

What is compound interest?

When you invest your money and receive interest (free money) it is added to your investment, giving you a new total. The next time you receive interest, it is calculated base don your new total including the free money from last time. This happens over and over, and after several years, your initial investment will grow tremendously. 

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Keep your lifestyle in check and invest your money (the younger you do this, the better)

As a millennial, almost everyone you know will work until they are well over 65+ years old before they can afford to retire. But I need you to understand, there is another way —you can easily retire by 40 — and you don’t need to invent Facebook or Uber to do it. All you need to do is invest your money, let me tell you how.

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