Every family will be different.
Different income.
Different expenses.
Different priorities
But there is bound to be some overlap in goals:
➡️ Building a safe home
➡️ Giving their kids opportunities to learn and grow
➡️ Saving and investing
➡️ Taking the occasional vacation
This is challenging though.
Being able to do all of this while costs continue to go up and be unpredictable is NOT easy.
The big take away here isn’t this specific example but rather that every family is out there trying to make it work FOR THEM.
If this is you (regardless of the income amount), the most important thing to do is figure out what your family cares about most.
Prioritize the best you can and make do with what you have.
And if growing your money is a priority, I’ve created a free guide to investing with index funds. Comment the word CHEATSHEET and I’ll send it over!
#wealth #familygoals #money #moneytips #investing #saving
What do you notice here?
Did they have some complex plan in place?
No.
They took it step by step.
Gradually increasing what they could do when they were ready to do it.
Building wealth doesn’t have to be a sprint.
It can be sustainable and happen in the background of your life.
You can press down on the gas on your own terms and enjoy yourself during the process.
I have a free guide that can walk you through how a couple like this might start investing to achieve their goals.
Comment CHEATSHEET and I’ll send it over.
#moneytips #wealth #millionaire #couple #couplegoals
Here’s something every parent needs to know about a 529 plan:
Yes they are awesome and there are a ton of benefits (tax free growth; no tax when you sell and use the money for qualified educational expenses; the new abilities to roll unused money into a Roth IRA, among others) . . .
BUT please pay attention here…
The 529 does not have to fully fund your child’s education.
It’s great if that is your goal and you can afford to do it.
But if you’re trying to get your own home in order and can’t contribute enough money that will one day pay the full tuition, you can still help your child with just a portion of their tuition.
Any amount you can grow between birth to when they go to college money your child won’t need to either pay on their own or find scholarships to cover.
And it is ABSOLUTELY going to help them avoid the trap of student debt.
#familygoals #education #investing #529plans #529 #stock #stockmarket
Compounding has negative effects too 👇
SHARE THIS with a friend who’s working on their money.
It’s time to look at the decisions you’ll make that will add up to big numbers.
I’m not saying to cut out the small things. If you enjoy your trips to your local coffee shop, great, have at it.
But keep an eye on the bigger picture.
Are you saying “eh, whatever” and swiping your credit card too much?
Are the little things a catalyst to buying more than you anticipated?
Put yourself in a position to succeed this year.
Example: if you know you can’t go to the mall without buying stuff you don’t need, either don’t go to the mall OR leave your credit card at home.
The $5 decisions won’t make or break you.
But the avalanche of decisions that follow start to make an impact.
Ask yourself whether the $10,000 decisions would change your life?
If so, it’s time to rethink some things.
If you want help getting organized to see which decisions add up to big numbers, comment BUDGET below and I’ll send you my free spreadsheet to help you get started.
#budget #budgeting #spending #moneymindset
You need to understand this 👇
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🚨You don’t have to mirror these exact numbers.
Read that again. ♻️
If you think you’ll need more when you retire, save and invest more.
If you think you’ll need less, don’t save and invest as much.
The key takeaway: you can’t just SAVE your way to wealth. You need to find ways to grow your money without having to just work for it.
This isn’t my opinion. For the vast majority of the population, it is fact.
And my firm belief is that you can do it while living a life you love.
#investing #moneytips #save #marriageandmoney #couplegoals
Is a $100k per year salary enough where you live? Let me know your opinion in the comments.
#money #costofliving #economy #retirement #debtfreejourney #moneytips
How do you know you’re saving enough?
Lets discuss…
[And make sure you SHARE this with a friend or loved one so you can game plan together!]
The first way is to start with the life you want to live.
How much money do you need to fund that lifestyle?
Let’s assume you plan to spend $10,000 per month in retirement.
You’d need $120,000 per year.
If you plan to live 30, 40, 50 years in retirement just do the math.
30 x $120,000 = $3.6 million
From there you can reverse engineer your savings goals.
To be worth $3,600,000 in 30 years, you’d need to be investing $2,650 per month (assuming an 8% rate of return).
Does that seem within reach?
I’m not suggesting you have to have a specific net worth or that even the majority of people could afford to invest that much monthly.
But this is MEGA eye opening for most:
If you want to live your best life today AND tomorrow, you need to be prepared.
And by setting goals and knowing the numbers, you’re already more informed than most people.
#investing #investor #stockmarket #debtfreejourney
Can you change this?
Look at the air hockey puck in this video: it bounces back and forth, side to side.
So many people will be like this, bouncing back and forth from trying to grow their money to struggling with things like debt or how they spend.
This cycle is hard to break free from.
But you CAN get out.
Yes, the earlier you start, the longer you have to grow your wealth.
But there is a secret sauce involved here.
And that’s not just time.
It’s consistency.
Doing the same thing over and over for years is what you need to yield results.
Even if it’s small steps or amounts, still do it.
Because it might not seem like you’re on the right path.
But I guarantee you’re better off than just doing nothing.
Or staying stuck in the same routing.
If you want to get started on your journey to grow your wealth, I’ve got a FREE guide on how to start investing with low cost index funds.
Just comment CHEATSHEET and I’ll send it over to you for free.
#investing #investor #personalfinance #debtfreejourney
This absolutely shocked me 👇🏻
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I read a stat recently that said that if you take 100 people at start of their working careers and follow for them for next 40 years, here’s how they would do financially-
54 of them will be broke and dependent on the government, family and friends.
36 will be dead.
5 will keep working (not because they want to but because they HAVE to).
4 of them will be financially secure.
And only ONE will be wealthy.
Let me say this another way:
Only 5% of population will succeed in creating a life of financial freedom.
The other 95% will struggle their entire lives.
There are a lot of factors that go into this: the economy, incomes, government decisions.
A lot of that is out of our control.
But I firmly believe there is one thing we can all do if we want to be a part of that 5%
And it’s actually learning how money works.
Without financial education you’re going at this with no direction.
But with the proper understanding of how money works, you can actually manage your money, invest and make a plan to avoid joining the masses with a lifetime of money struggles.
On April 6 I’m going to teach you all the knowledge you’ll need to have a plan for your future.
You’ll get emails from me with video trainings, calculators and REAL money tips that I used to get on the path to financial freedom.
Just comment “FREEDOM” below and I’ll send you a link to sign up!
#investing #moneytips #financialfreedom #financialindependence
Would you do this?
Make sure you SHARE this with a friend and FOLLOW for more money tips!
Adding even a modest amount on top of any debt can accelerate how quickly you pay it off.
And if you have debt, this is a great way to be investing in your future.
Because the faster you pay off debt, the faster you can start saving, investing and GROWING your money.
If you want help getting your money organized to be able to pay off debt fasters, comment BUDGET.
I’ll send you my free budget and spending analyzer to get you on the right path.
#mortgage #housing #debt #debtpayoff #debtfreejourney
What you might miss from this post 👇
First, SHARE this with a friend or family member!
I want you to understand something: the takeaway here is the compounding effects of money.
Imagine if someone started this for you when you were new to the world?
How would that have changed your life?
This is what we can do for our kids.
If you’re wondering how much you need to invest, use these numbers as a guide.
But something is better than nothing. Even $25/month will grow over decades.
And if you need help understanding what to invest in, I’ve created a simple guide for you.
Comment CHEATSHEET and I’ll send it over to you for FREE.
#investing #parenting #stockmarket
