Right now, my estimated FI number is $1.8 million.
▶️ My average monthly expenses range between $2,500-$3,000/mo without kids or a mortgage (although I do currently pay rent).
▶️ I just estimated that my expenses later in life may be $6,000/mo multiplied by 12 months = $72,000/yr multiplied by 25 = $1.8 million.
▶️ I can see my FI number going up as life happens later but for now, I’ll use $1.8 million so using my July 2020 net worth, I’m at 26.38% to FI.
Context: SINK, 29, no debt, working in Tech, living in a HCOL area.
🚨Did you know that you can negotiate some of your monthly bills? 💲Some of the bills that are worth negotiating are:
Cable, Satellite TV/ Internet services: first research other cable companies and write down their monthly rate information then call your cable company and ask for a lower monthly payment and tell them that you have researched cheaper options. Most companies will try to negotiate with you, because they don't want to lose a customer...others don't. If they don't, remember you can always switch to a different company to take advantage of introductory prices!
Credit Cards APR: Most people don't know about this, including me years ago...but you can negotiate the interest rate on your credit cards. If you are a good standing customer (paying on time, keeping a low revolving balance etc) call your bank or credit card provider and bring that interest rate down!!
Medical Bills: believe it or not you can, call your medical provider and offer to pay most or all the bill if they discount a % and they'll agree. You can also set up payment plans --usually interest free-- if you can't pay in full right now.
Car Insurance rates: Do your research with other insurance companies and get a quote, then call your company and negotiate a lower rate. In most cases, they don't want to lose a customer so they'll adjust the rate.
Have you done this before Or with any other bill or service? How did it worked out for you?
💥Share this!!! 👇🏼👇🏼👇🏼
💥Double Tap if you like this
💥Follow @economikat for more tips
Your money has something to say to you and its probably sitting in the mail!
And for us super busy entrepreneurs with a million things to do already, the last thing we need is our (personal) money management taking up too much time or WORSE getting put on the back burner til “NEVER” and it end up affecting every other area - starting with our SANITY and confidence.
All of this has a positive or not-so impact on your business!
That’s why we’ll be starting all the way from the “beginning” of your money matters in our upcoming Savings “Reboot” Entrepreneurs.
It’s launching on August 22 so be sure and ✍🏽save that date! 😉 👌🏾❤️
1 122 minutes ago
WHY IS IT SO HARD TO TALK ABOUT MONEY? 😬💵
People find personal finance to be one of the most challenging subjects to talk about. For many, they’d rather talk about their sex life than their finances!
Why is that?
Money has an association with status. People think of money as some sort of hierarchy, where those who have more have a higher status. So talking about money makes people feel embarrassed or like they’re showing off. But we need to reframe how we think about money. Money isn’t status and net worth isn’t the same as self worth.
Once we get over the stigma of talking about money, you’ll realize how important it is!
Not talking about money can have negative consequences
🔹talking about money with friends and family can be a way to learn about financial strategies that could help you
🔹if you aren’t talking about money, you may miss out on resources that are available to you
🔹there’s a lot being discussed around pay transparency these days. the more you talk about money, the more you can ensure you’re being paid what you deserve and that you’re not being discriminated against
🔹if you don’t talk about money, you’ll have no one to encourage you or hold you accountable for reaching your financial goals
The fact is, people who talk about money with others they’re close with are better off. That doesn’t mean you need to share your salary or every transaction. But starting a conversation (like we do here on Instagram) with others in your life about various money subjects will be helpful to you and the person you’re talking with.
Not really sure where to start? Check out the last slide for some convo starters when talking about money with people in your life!
Do you talk about money with your friends and family? Comment below ⬇️
“It’s not about how much you make, but how much you keep.”
We all make a salary, but paycheck comes from one hand and goes out from the other. What’s missing in between is the lack of saving discipline.
Saving discipline is the only way to create wealth.
If you discipline yourself to put in $1,000/month (or 10% of your income) in a ‘wealth creation’ plan, you can create a massive amount of tax-free wealth for your future along with protection, growth and safety of your money.
Let me show you how you can create a huge asset over $1M dollars tax-free money before retirement.
To know more about the wealth creation plan, send me a DM!
My theme for this month is all about looking at the legacy of a life well lived. One of my family’s “legacies” are summers at the Lake of the Ozarks. It involves lots of swimming, cliff jumping, coving out and the very Midwest experience of pulling screaming children in a tube behind a pontoon boat.
Everyone in my family has what I would call a different “tubing personality”. You can go slow and play it safe. Or you can thrill-seek your way to a water enema wipeout. My son sits in the middle seat of the tube and wants to stop after one go around. My daughter takes the waterproof speaker, shoves it down into her life vest, and blasts “One Margarita” while asking to go at top speed for hours.
There is an analogy to investing here, I promise. The financial services industry gives a name to your tubing personality. It is called “risk tolerance”. It represents how fast or slow you like to go in the market based on behavioral science - prospect theory.
Investing takes knowledge and patience. Know your own risk tolerance and be realistic about it. Stay educated and make decisions only when you have weighed the pros and cons and are ready to be accountable for the outcome. If you are not sure you are holding the right asset mix, or are uncertain about your true tolerance for risk, consult a qualified financial advisor, who can meet with you personally and who is equipped to help you with precisely those problems.⠀⠀⠀⠀⠀⠀⠀⠀⠀
If you are seeking help managing your investments, please don't hesitate to contact me. I am always just a phone call or message away.
It’s all about awareness...... After a long talk with the ladies, we decided to go live today at 7:30pm to chop it up and set things straight‼️ Our very own @ewhiteheard will be hosting so make sure you FOLLOW And TAP IN 📒✏️
This conversation will be informal, raw and uncensored 🤭 you’ll hear from 7 women embarking on a new journey While managing a home, kids, school and work 🎯
Double TAP if you agree! Everyone wants to get rich quick. Just be patient.
Follow Me 👉🏻 @investorsupply for more.
45 1,2539 August, 2020
Last week I sold my Ute.
Why? Because I want to leave my money in my pocket.
In the famous words of Warren Buffet “be fearful when others are greedy and be greedy when others are fearful”.
I’ve mismanaged my money for too long now and the only way for it too multiply even more is to manage it properly.
I’d rather ride in a run around and save money then ride in style and have no money.
Time to invest properly for the long term.
10 1135 hours ago
Would you like to live in this living-room 💰 💵?
Comment with the first thing you’d buy 💶
Follow @hubofluxury for more 💰
Follow @hubofluxury for more 💰
Follow @hubofluxury for more 💰
WANT TO MANIFEST MONEY FAST⁉️
What is the one thing that you can do differently to manifest money faster?
It is to literally make money as natural as possible.✨
It's the idea that it's not natural, that is preventing you from making the money. So own it, own the fact that wherever you're at, own it and just be as if you already are operating from that frequency.
If you think about it, whenever you are operating from the state of resistance, what ends up happening is that you're actually pushing things away and pushing money and pushing opportunities away.
And we don't even realize that we're doing it.
So remember that if you really want to manifest money fast, it can come from different places.
❌It doesn't have to come from a nine to five job.
❌It doesn't have to come from a job.
❌It doesn't have to come from you trading time for money.
That is a story, right? I have made money passively and really I had to change that story. Cause I also believe that I had to trade my time in order for me to make money.
If you want to learn more about manifesting more money,
I have got a whole amazing course planned for you.
Join my Facebook group mission to MANIFEST $1000 IN 22 DAYS! Link in Bio ✅ See you there! 🤍
13 1026 August, 2020
Saving isn’t always bad…
I’m fact, it’s smart to have an emergency fund before you invest. But the real growth comes from investing.
Follow Me 👉🏻 @investorsupply for more.
10 THINGS I WISH I KNEW BEFORE I STARTED MY OWN BUSINESS 🤯💸👀
Focus on commitment: You won’t always be motivated. For the times you’re not, you need to focus on commitment. You need to keep yourself accountable!
Make the journey fun: Business is FUN! If you make it too serious, there’s a chance it will start carrying a heavy emotional weight and you’ll lose perspective and become stuck.
Rest: The reality is the most successful people even need time for themselves. Rest is important for recovery both physically and mentally.
Collaborate: Collaborate with other people and surround yourself with like-minded entrepreneurs. You’re better off learning and growing from each other than comparing yourself and creating negative energy.
Get fit mind, body, and soul: Healthy bodies and minds leads to better energy, confidence, and in turn more success!
Seek knowledge: Seek knowledge, not results. You don’t know everything, and that is a fact. So learn from mentors and constantly seek development + growth.
Grow your team/outsource: You need to learn to ask for help - you can’t do everything yourself. Take a look at the most successful businesses and brands around you. They have a great team! Generating more financial growth requires a bigger team!
Financial Freedom: Having abundant savings, investing, little to no debt and proper money management. Stop falling for “10k+ months in 12 weeks” entrepreneurs. Focus on financial freedom, then build your wealth.
Family + Friends: You’ll feel ostracized, excluded and lonely. People will judge you, make fun of you, question you, not support you, etc. People are notorious for projecting their insecurities. Move forward and keep your circle of family and friends meaningful and to those you trust.
Fail: Fail A LOT. Fail. Every. Single. Day. The more failures you have under your pocket, the closer you are to success.
What is something you wish you knew before you started your own business?
126 2563 August, 2020
This product uses the Instagram API but is not endorsed or certified by Instagram. All Instagram™ logos and trademarks displayed on this application are property of Instagram