Quick finance tip to stop buying things you don't need:
Every time you splurge on something, you have to add the same amount to your savings.
- 200 dollars on Jordan shoes? Add 200 dollars to your savings.
- 850 dollars on a designer dress? Add 850 dollars to your savings.
This immediately tells you what you can or cannot afford.
The #1 Secret of All Successful Investors 💵💯
Top 5 Best-Performing Stocks 📈💯 in the S&P500 for this year
Spending vs Investing 💰 Keep buying whatever makes you happy, BUT understand the opportunity cost of not investing the money you are spending. #spending #financial #investing #investingtips #moneytips #financialfreedom #financialplanning
Spending vs. Investing 💰 Keep buying whatever makes you happy, BUT understand the opportunity cost of not investing the money you are spending. #howto #tips #moneytips #financialfreedom #financialplanning #investing
Top 5 ETFs by assets under management #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
You can't predict the future. Invest for decades, not days or months. #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
❌ Don't lose your hard-earned money on trendy investments #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
Just investing five dollars per day into the right ETF can be huge.
Five dollars invested daily could amount to:
74,000 dollars in 20 years.
170,000 dollars in 30 years.
360,000 dollars in 40 years.
(Assuming a 7% annual return)
The best part is that five dollars won't change your daily life, but it can bring big results over time and help you retire. #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
3 Golden Rules of Millionaires:
1 - Spend less than you earn.
2 - Invest as if you're going to live forever (meaning don't chase get-rich-quick investments).
3 - Avoid consumer debt like the plague, especially car loans.
#howto #tips #moneytips #financialfreedom #financialplanning
How long to double your money?
THE RULE OF 72
Just divide 72 by your estimated rate of return.
For example, if your rate of return is 12%:
72 divided by 12 equals 6.
Your investment will double in 6 years. Simple, right? Try it! #budgeting #investing #income #savingmoney
2 Rules to Get Rich 1 - Live below your means 2 - Invest early and often #howto #tips #moneytips #financialfreedom #financialplanning
The Number 1 Cheat Code to Get Rich:
Make 50k? Live on 40k, invest the rest.
Make 80k? Live on 40k, invest the rest.
Make 100k? Live on 40k, invest the rest.
Magic happens when you live below your means and keep expenses steady, even if your income increases.
That's the cheat code to get wealthy. #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
3 Rules for New Investors!
1 - Build an emergency fund (3-6 months of expenses).
2 - Don't chase trends or hype. Good investing is often boring. Big profits come from holding onto good investments for a really long time.
3 - Start with index funds. I'd recommend a worldwide ETF. #howto #tips #moneytips #financialfreedom #financialplanning
If you could only buy one stock, what would it be?
Personally, I would choose a Worldwide ETF.
Like VT for Americans,
XWD for Canadians,
or VWCE for Europeans.
And you? What would you buy? #howto #tips #moneytips #financialfreedom #financialplanning #stock
The Retire Early Formula 💯💵 #budgeting #investing #income #savingmoney #reels #reelfb #reels2024 #retirement
How much money do you need to retire?
REMINDER: Retirement isn’t about your age; it's a financial calculation.
A common approach is the 4% Rule:
It's called the 4% Rule because you would take out 4% of your investments annually to live on.
For example:
To live comfortably, you need $50,000 per year. Divided by 4%, you would need an investment account worth $1,250,000. #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
Basic financial rules to live by:
- 6 months emergency fund.
- Invest 10-20% of your income in long-term investments.
- ZERO credit card debt.
- Drive cars until they die (new or used).
- Ignore your neighbor's buying decisions. #howto #tips #financial #financetips #moneytips #financialfreedom #financialplanning
Where do you invest your money?
Personally:
80% in a worldwide ETF.
10% in bonds.
5% in gold.
5% in individual stocks and cryptos for "fun" and hoping one will "moon."
And you, where do you invest? #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
Where should you invest?
Gold? The stock market? Bonds? Savings account?
Let's use an example involving 4 friends who began saving and investing 500 dollars per month in 1990:
Paul invested in bonds. Today, he has around $475,000.
John put his money in gold. Today, he has slightly more than $500,000.
Pierre invested in the stock market, specifically the S&P 500. Today, he boasts almost $1,500,000.
Rick kept his money in a savings account at his bank. Today, he has about $280,000.
It's evident that investing in the stock market can be a powerful way to build wealth. However, depending on your age and strategy, it's crucial to diversify and not invest 100% in the stock market. #budgeting #investing #income #savingmoney #reels #reelfb #reels2024
