Financial literacy is a prerequisite to build wealth.
Here are the Best Personal Finance Books to Read:
• The Psychology of Money by Morgan Housel
Quote:
“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”
I have gaps & weakness.
My wife has gaps & weaknesses.
But as we grow together we FILL EACH OTHERS gaps more & more.
•People & friends fade.
•Looks & things fade.
•Jobs & titles fade.
But love, loyalty & legacy last forever.
A great marriage takes COMMITMENT & an EFFORT from both to serve the other.
It’s not 50-50 like they tell you.
Sometimes it’s 90-10 & others it’s 5-95.
But neither one keeps score because WE ARE ONE.
It’s the most fulfilling & fun adventure ever though when BOTH are locked in & growing together.
Strong families & locked in couples raising strong kids will save our society.
Prioritize your marriage & home.
What you do from 9-5 matters.
What you do from 5-9 matters more.
My wife & I are $69,436 away from being DEBT FREE!
I know some would call us foolish for paying off our home early, but to us the peace of not owing ANYONE ANYTHING is worth more than maybe a little better upside on investments.
We are 40 & have been married 10 years.
We had under a 200k net worth when we married & have over 9x that & will be debt free by year’s end with passive income covering our baseline expenses.
Neither of us make huge salaries.
Here’s the best financial wisdom I can provide that we have learned over the years.
I got fired from a job many years ago.
I moped home dejected & feeling 3 feet tall.
My wife MET ME AT THE DOOR.
I love you.
You are amazing.
We will build back stronger.
That kind of love & loyalty is priceless.
That’s why I feel sorry for the guys that don’t get marriage or think it’s a flex sleeping around in your 40s.
My wife’s my best friend.
She’s also my business partner.
She’s also my biggest cheerleader.
She’s also creating our legacy with me.
Marriage is the best thing ever when both people are invested, growing together & prioritizing one another.
It may not turn around as soon as you would like, but how do you know God is not going to prosper you in the difficulty, cause you to flourish in the fire, take you to new levels in the midst of that challenge?
💥💥Happiest 25th💥💥
Today I turn 25, and I deeply meditate on the power of love, human imagination, and dreams.
I am becoming the woman I used to dream about, and I am doing so cautiously to avoid the trap of ever thinking I have arrived. I will never arrive, but the dream must live on. On this journey, I did not dream half a dream but rather the dream beyond a lifetime. The woman I dreamt about is a gift to humanity—consistently loving and insisting on the power of human goodness. I am a miracle, and I share my existence on earth with other miracles. a unique expression of God’s love for all beings. a rebel, a solider who will live to fight another day until an end that will never come. an infinite warrior.
Today, yet again, I visited a place called Love. I am reminded yet again that I am here, alive with you, my loved ones. I am reminded of my mortality; it’s fragility and fickleness, yet it is in this fragile mortality that I find the true meaning of life—the true meaning of love. I have been loved deeply by many, and I commit to loving fearlessly and embracing the vulnerability that comes with it. I am alive and in love with all living things and all living beings, connected by the infinite eternal life force. God, who is love, is the giver of life and love. I have lived a quarter of a century... I am grateful. Deeply grateful.
I end with a poem.
Do not live half a life, and do not die half a death. If you choose silence, then be silent.
When you speak, do so until you are finished.
If you accept, then express it bluntly.
Do not mask it.
If you refuse, then be clear about it, for an ambiguous refusal is only a weak acceptance.
Do not accept half a solution.
Do not believe half-truths.
Do not dream half a dream.
Do not fantasise about half-hearted hopes.
Half the way will get you nowhere.
You are a whole that exists to live a life, not half a life.
~Khalil Gibran (Book: The Prophet) https://t.co/Laskz5fO6E)
When I first graduated, I thought there were only 2 directions you can go with an Accounting degree…
Audit, or Tax.
Man…was I wrong.
Accounting is one of the most versatile fields out there…
with benefits ranging from your career, to even your personal life.
There are 77 Types of Accounting..
Here are some of my favorite areas of Accounting:
1️⃣ Forensic Accounting 🕵️
Ever wish you became a private investigator, or a detective, instead of an accountant?
Forensic accounting may be a perfect fit.
Forensic accountants investigate financial discrepancies and fraud, often times working on legal cases to uncover any irregularities with a companies financial records.
2️⃣ Cash Accounting
Cash is king…right?
Well, that’s especially true if you’re performing “Cash” accounting.
The idea here is pretty simple - you record all money received as income…
and all money paid as an expense.
There are some exceptions here, but that’s the gist of it
3️⃣ Accrual Accounting
Accrual accounting is much more popular amongst bigger companies…
and IMO tells a much better story of what’s ACTUALLY happening.
Here, you treat income EARNED as revenue…
and expenses INCURRED as an expense…
regardless of when cash was received
4️⃣ Operational Accounting
Here’s one of my favorite fields in accounting…
With operational accounting, you’re handling the accounting tasks that relate to “operating” a company, such as…
→ Managing accounts payable
→ Following up on outstanding invoices
→ Processing payroll
and much more
While there are many fields in accounting, there are also many industries in accounting…each with their own quirks
5️⃣ Public Accounting
This is where I started my career…and where many feel it’s the best place to launch your career as an accountant.
The main focus here is between 2 fields: Auditing, and Tax, often times for public companies.
The most popular public accounting firms are known as “The Big 4”…which are Ernst & Young, KPMG, Deloitte, and Price Waterhouse Coopers
6️⃣ SaaS Accounting
For the most part, SaaS is just another industry, without too many nuances from any other industry…but it definitely has it’s quirks.
For example, with SaaS accounting, there’s a lot of emphasis on deferred revenue, and when something can be recognized as revenue.
Similarly, an extra emphasis is put on calculating KPIs such as Customer Acquisition Cost, Customer Payback, and Net Dollar retention.
7️⃣ Restaurant Accounting
Think you can easily transition to an industry like Restaurant Accounting? Be prepared for a lot of differences.
For example, instead of analyzing dozens of transactions a month…
you may be analyzing thousands of transactions a DAY…
each with their own complexities in reconciling and reporting
What are some other type of accounting you’ve seen or worked with?
And which is your favorite?
Let me know in the comments below...