beingdetermined
Personal Finance • Lifelong Learner • Financial Abundance
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#disciplineequalsfreedom #disciplineequalsfreedom
#riskmanagement is the name of the game! Plan Acco #riskmanagement is the name of the game! Plan Accordingly!
I see a lot of people telling you to #saveandinves I see a lot of people telling you to #saveandinvest for thirty (30) years so you can #retire with a #milliondollars. So, let’s say you have $1M the day you retire. That will be great! However, you need to account for the withdrawal, #inflation and #tax rate if you want to get an accurate estimate of how much #income you are going to receive from your #investments. As you can see in the graph, you will be truly #financiallyfree once your after-tax portfolio income (adjusted for inflation) exceeds your current or planned annual expenses. ——— So, make sure you are looking at the right number. I always make my plans with the after-tax, adjusted for inflation, number. A combination of lower living expenses and a high #savingsrate will be the best path to reach your #financialgoals.
Inflation reduces the purchasing power of each uni Inflation reduces the purchasing power of each unit of currency, which leads to increases in the prices of goods and services over time. It's an economics term that means you have to spend more to fill your gas tank, buy a gallon of milk, or get a haircut. In other words, it increases your cost of living. The most powerful way to protect yourself from inflation is to increase your earning ability and income. A 5% annual raise, or a promotion that nets you a 20% gain, will make inflation irrelevant. #investinyourself and in your #income!
Happy Sunday! #disciplineequalsfreedom Happy Sunday! #disciplineequalsfreedom
Hopefully I can motivate someone today with a real Hopefully I can motivate someone today with a real story: Let me start with the picture. These ladies are my sisters. That silly man is my nephew. You see the orange arrow? Well, the orange arrow is pointing at my middle sister. Today, she opened her first IRA. Today, she started investing. She’s 45 years old. She’s a single mom. Life has thrown her big curve balls, but she has decided to improve herself everyday. When we opened her account, she told me: “It’s never too late. If I would’ve started earlier it would’ve have been another story, but opening this today is my story and that’s OK”. • If you think that you’ve missed the bus, I can tell you it is never too late.
Make sure you have your #priorities straight! #sav Make sure you have your #priorities straight! #savingmoney
We front-load some of your #taxadvantage accounts We front-load some of your #taxadvantage accounts because it works better for us. You don’t have to front-load if you don’t want to. Why front-loading work for us? -We free up more #cashflow on a month-to-month basis. #freecashflow is vital for flexibility and options. -We can do it because we have a high #savingsrate during the year. -We have determined that this is our #dollarcostaveraging schedule. -We can focus on other #investments and endeavors. -The earlier we #invest, the better. More time for #compoundinterest to work its magic. •••• You have to determined what works for you. Don’t run somebody else’s race. Don’t be on somebody else’s plan. Make and run your own plan.
Same thing that I did last year, I will do this ye Same thing that I did last year, I will do this year. #wealthcreation tactics tends to be the same every year. Don’t follow shinning objects, stay the course! #debtfreecommunity #savingsrate
We just maxed out two (2) Backdoor Roth IRAs for t We just maxed out two (2) Backdoor Roth IRAs for this year, 2021. Total: $12,000 This will be invested in our #realestate empire through domestic and international #vanguard #reits Great way to start the year!
#financialtimes just published the front page of i #financialtimes just published the front page of its international edition, January 4th, 2020. I wonder what they are trying to say? 🤔
This is why the #stockmarket and #realestate price This is why the #stockmarket and #realestate prices continue to climb. Let see if the #centralbanks stop increasing their #balancesheet anytime soon. You need to have an idea on how the system works. I’m talking about the reserve currency in my stories. Go check it out!
The Reserve Currency now running in my stories! Go The Reserve Currency now running in my stories! Go and Check It Out!
stop taking the path of least resistance! #putthew stop taking the path of least resistance! #puttheworkin #disciplineequalsfreedom #ficommunity #firemovement #financialindependence #financialindependenceretireearly #autonomy #mastery #masteryourmind #investinyourself #personaltrainer #personaldevelopment
The Big Short, a movie about guys who shorted the The Big Short, a movie about guys who shorted the housing market prior to the financial crash, shows an example of high-stakes all-or-nothing contrarian investing. Michael Burry, MD, played by Christian Bale, shorted the housing market with his fund, and due to the structure of his shorting investment, was paying massive premiums to investment banks until he was correct, which nearly unraveled his fund as investors wanted to withdraw money, until he was proven right. Him and his investors made a ton of money when the housing market collapsed. • Michael Burry made a bet on what he thought it made sense. Today, every metric put the US market at a all-time high. So, what’s cheap right now? Here are two ideas: Emerging Markets and within the US market you will find that commodities are cheap as well. Sometimes you have to be a contrarian if you want to win.
Starting 2021 with some #nature! #stateparks Starting 2021 with some #nature! #stateparks
In 2020 we invested time and #money in: -Our Skill In 2020 we invested time and #money in: -Our Skills -Our Home -Our Kids -Real Estate -Relationships -Our Health -Our Network -Our Balance Sheet -Our Income Statement -The Stock Market -Our Community -Reducing Our Expenses I can assure you than in 2021 we will do the same. Happy New Year!
My top nine 2020 posts! #topnine #debtfreecommuni My top nine 2020 posts! #topnine #debtfreecommunity
My #podcastepisode is #126 go and listen the conve My #podcastepisode is #126 go and listen the conversation that I had with @coachcarson1! #Repost @coachcarson1 with @get_repost ・・・ We published 51 podcast episodes in 2020, but these 10 were voted on by all of YOU as the most popular. If you haven't listened to some of them, be sure to download and check them out soon.⁠ ⁠ And congrats to @beingdetermined, @investingarchitect, @richonmoney, @mrmoneymustache, @independencerealtygroup, @therobertleonard, & @affordablerei for making my top 10 podcast episode list! Podcasting is easy with incredible guests!⁠ ⁠ Did you have a favorite episode of 2020? I'd love to hear from you in the comments.
The best way to comprehend all this #financialinde The best way to comprehend all this #financialindependence concept is by looking at the numbers. There’s nothing new here. Is more of the same: increase your #income, keep the lifestyle creep in check, reduce your expenses and #invest the rest. Check how many years it will take each other to reach the #investment portfolio that they need in order to be #financiallyindependent. Now, judge for yourself and make the right choices in your life.
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