6 Real Steps To Financial Freedom.
Adrian Brambila
My new book is out! Start Thinking Rich grab a copy wherever you buy books!
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Hey Unknown do you ever dream about one day being financially free? Financial freedom may mean a lot of different things to everyone of us but I think the baseline commonality is getting to a point where we don't have to worry about money.
I get asked for financial advice all the time even though I'm not a financial advisor and I've laid out a step by step plan that I believe can help the majority of people achieve financial freedom. Enjoy and reply with what step you are working on!
1. Clearing high interest debt! This is not a sexy place to start off but it's necessary! Carrying a balance on high interest debt like a credit card is a dream killer. Nothing will steadily outperform a credit card. Before you do ANY investing make sure you clear off your credit card over balance!
2. Once your high interest debt is cleared you may still have other forms of debt (and that's ok) pending on those interest rates it maybe time to start investing - but you shouldn't invest until you built up an emergency savings. This amount is up to you but most people like to say 3-6 months of your income in the bank. 3. Then max out your match on 401k if applicable.
4. Then max out your Roth IRA. (Side note: I'm a fan of investing in index funds and etfs. Take a survey at any place that offers these like Vanguard or Acorns and the survey will create a portfolio based off your goals)
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5. If you make it this far you are maxing out your Roth IRA and have leftover or you make too much money to invest into a Roth IRA congrats! It's a MAJOR step! It's time to start a side hustle and diversify your income!
6. I don't think too many people are on step 6 and higher... if you are, next newsletter I'll continue the list.
I need an electric car got any thoughts?:
A company I'm an affiliate for as a sales bonus is going to buy me an electric car. (Essentially send me $1,300 a month). It HAS to be an electric car. I currently have a Tesla Model 3 as one of my vehicles but honestly I think it's kinda fugly on the outside.
I was looking at the Porsche Taycan... I would love to get my cybertruck but who knows when that will actually come out based on when I ordered it. What do you think? Reply with your thoughts on what you would recommend.
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