Tag: Financial Freedom

You Shouldn’t Follow Your Passion

This is such an eye-opening article.

https://www.cnbc.com/2019/02/15/self-made-millionaire-scott-galloway-why-you-shouldnt-follow-passion.html?forYou=true

Following your passion is like the ultimate bullshit. I agree. Why? I’ve lived it.

But wait…

It isn’t that black and white. Following your passion really is great for the soul. If your passion happens to support the lifestyle you want, you are blessed. Although for many, it doesn’t always work out.

What you should do first…

Stop worrying. You never, ever have to give up your passions. What you do have to do is support yourself. There are alternatives to your passions. What else are you good at?

Write them down.

Now how can you incorporate them in the money-making world? Continue reading “You Shouldn’t Follow Your Passion”

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Tax Yourself

It’s hard to save money. Rising housing cost and expenses take away more than half of your check. Especially if you live alone. But wait…there’s more…

Look at those shoes 👠👠👟👟 And that new Apple watch ⌚

It’s happy hour 🍹

I’m too tired to cook 🙍

We can charge that trip and pay later (ignoring all the interest charges when you know you can’t pay it off)

Hey, I’m all about living a full life. You can do whatever you want BUT you should do it after you tax yourself. I shoot for a 20% tax on myself that goes towards savings and investments. I know some of you might be saying you can’t do it. That you have kids and bills to pay. But what if the government put a 20% tax on you? It would suck but you would have to pay it. Try to think of it that way (thank you Tony Robbins). You’ll have a cushion for emergencies and your future self will thank you for it. Automate and work with what you have. Or at least, make sure you’re putting something away.

(allocating more into your 401K, HSA and IRA will lower your taxable income. Means – giving less to the IRS. Keep more of your money. Most of us aren’t in the 1% bracket where we get great tax breaks)

I recently realized two things with Amazon. Continue reading “Tax Yourself”

I decided to go with Stash

I use to be extremely intimated with investing. So many big words and not enough dummy books around to make it less intimating.

It wasn’t until I read MONEY Master the Game by Tony Robbins that I really got serious. If reading isn’t your thing…YouTube.

(Unshakeable – is a condensed version of the book)

What I focused on first

Company 401K. Understanding the fees and benefits so I can utilize it to my full advantage. If you have an HSA, also a good tax-free way to save. And if it allows investing with no fees…YES! Fees compound just like interest does.

Then I really got into learning stock trading. I will probably never be a day trader. STRESSFUL. Buying stocks for the long-term seems more suitable for me.

I like to follow Wall Street. I do my daily dose of CNBC to see what’s going on economically around the world. I don’t base every investment choice on the daily news though. My risk tolerance is moderate. I follow the buy and hold tactic. Most of my investments are with low index funds. Pretty safe overall.

I recently decided I wanted to be able to invest in particular stocks. So I left Acorn and moved to Stash. Acorn is cool with “roundups.” If you suck at saving this could work. Although if you hardly invest any money each month, that $1 fee is way too much. Acorns also didn’t allow me to buy individual stocks. Stash on the other hand does. You still get hit with that $1 fee though. It’s more so worth it to me to be able to pick what I want. I’ve been looking into purchasing JP Morgan and a couple of other energy companies but didn’t want to go full on with a brokerage account. I wanted something simple to start out with. Stash seems to be so far what I need. I can buy bundles of funds as well as individual ones. If you really like a company, let’s say Netflix…you can drop in $10 towards that stock to start. Invest over time and eventually own one share. Or just buy $1000 of it if you want. It has options for all types of income level.

I’m starting small. I’d like to dabble a bit more before I go all in. So far, so good. I took screenshots of what the app offers. Learning material and lots of investment options. The mobile app interface design is nice and easy to use.

T

Tony Robbins says don’t be just a consumer, be an owner. If you have an iPhone, you should have a stake in their stock. I actually have an android HAHA

The point is unless you start a business that becomes super successful, you’ll never be financially free. You don’t want to worry about how you’ll pay for your bills after you retire. Even worse, be stuck at a crappy job and working until you die.

I say start. Start now. No matter how old you are. Save, automate and continue to add. At least once a year take a look at all of your long-term investments and rebalance if needed.

Stash makes it really easy. I find it user-friendly for non-techy people like me. And I’m not a pro when it comes to investing. Stash breaks it down simple enough. Their app is engaging and has tools to educate you on investing, money management etc. Remember, this is a starting point. You can always move your money elsewhere when you’re ready.

If you decide to check it out, use my link below. I can get $5 per referral up to $500 and so can you!

https://get.stashinvest.com/amara04hq9