The most revolutionary thing you can do is own your time and labor.
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Those $0.10 dividends soon becomes $1 dividends
Those $1 dividends soon becomes $10 dividends
Those $10 dividends soon becomes $100 dividends
Those $100 dividends soon becomes $1,000 dividends
Keep building. I’m the proof. I speak from experience. It just takes time.
My tips to those in your 20s & 30s, I can't stress this enough:
1. Avoid car loans
2. Avoid credit card debt
3. Build your credit score
4. Max out your Roth IRA
5. Take your 401k job match
6. Choose your friends wisely
7. Network with high achievers
8. Budget to keep expenses low
9. Read more books, watch less TV
10. Invest at least 10% of your income
11. Build a 3-6 month emergency fund
12. Create at least two streams of income
13. Plan for financial freedom in your 40s
14. Have a basic knowledge of personal finance
15. Investing in yourself is crucial — don’t be cheap
16. Time is your most valuable asset — don’t waste it
What would you add?
I don’t care what anybody says, being financially stable will solve 99% of your problems.
Money is one of the most important things in life and we shouldn’t pretend it isn’t.
Based on my expenses, my annual dividend income can already cover 1.5 months of expenses per year.
That’s 1.5 months of complete freedom so far.
The goal?
For my dividend income to create 12 months of freedom a year.
Get the snowball rolling!
All it takes on paper is 10 years making $100k to gross $1M, even the net of that is pretty decent and better than most people will make
The average person works 30-40 years
If you’ve been a high earner this whole time, some of that money should be compounding in something
You won't get rich by saving $3 on coffee.
You will get rich by:
• Increasing your income
• Buying appreciating assets
• Spending less than you earn
Simple. Not easy.
You can avoid most problems by:
• Exercising daily
• Being disciplined
• Eating healthy food
• Investing in yourself
• Having quality friends
• Finding the right partner
• Spending less than you earn
• Building multiple income streams
Simple. Not easy.