I came from a poor family, and in less than 10 years, I grew my investment portfolio from $15,000 to more than $500,000.
All I did were some simple things that anyone can do.
Here's how you can do it:
All I did were some simple things that anyone can do.
Here's how you can do it:
β’ Budget
A budget is a tool that puts you in control of every dollar you earn.
How to budget:
- Allocate 50% of income to needs
- Use 30% for wants
- Reserve 20% for savings and debt repayment
You wonβt know where your money goes if you don't track your expenses.
A budget is a tool that puts you in control of every dollar you earn.
How to budget:
- Allocate 50% of income to needs
- Use 30% for wants
- Reserve 20% for savings and debt repayment
You wonβt know where your money goes if you don't track your expenses.
β’ Create passive income
Without learning to generate passive income, building wealth will be challenging.
Some passive income sources:
- Dividends
- Real estate
- Index funds
Without passive income, you may need to work beyond retirement age.
Without learning to generate passive income, building wealth will be challenging.
Some passive income sources:
- Dividends
- Real estate
- Index funds
Without passive income, you may need to work beyond retirement age.
β’ Consolidate your finances
This lets you track your income, expenses, investments, and debts.
With good visibility into your finances, you can set and achieve financial goals.
This lets you track your income, expenses, investments, and debts.
With good visibility into your finances, you can set and achieve financial goals.
A tool that I use to track my finances and all my investments
@snowballtracker
You can check it out: snowball-analytics.com
@snowballtracker
You can check it out: snowball-analytics.com
@snowballtracker β’ Invest in yourself
There is no better investment on the planet than yourself.
Investing in yourself is a prerequisite for financial wealth.
Improve your skills, knowledge, and education to increase your earnings and open more opportunities.
There is no better investment on the planet than yourself.
Investing in yourself is a prerequisite for financial wealth.
Improve your skills, knowledge, and education to increase your earnings and open more opportunities.
@snowballtracker β’ Invest for retirement
One of the best investment options is your 401(k).
Some companies offer a free match if you contribute up to a certain percentage.
Don't let that free money slip away. Every dollar counts in the long run.
One of the best investment options is your 401(k).
Some companies offer a free match if you contribute up to a certain percentage.
Don't let that free money slip away. Every dollar counts in the long run.
@snowballtracker β’ Buy assets
There is no wealth creation without asset ownership.
I make it a habit to buy index funds, which are a collection of stocks.
Advantages:
- Diversification
- Great performance
- Low cost
Here is a great list :
- $VTI
- $VOO
- $VGT
- $VXUS
There is no wealth creation without asset ownership.
I make it a habit to buy index funds, which are a collection of stocks.
Advantages:
- Diversification
- Great performance
- Low cost
Here is a great list :
- $VTI
- $VOO
- $VGT
- $VXUS
@snowballtracker β’ Become financially literate
Many people experience financial hardship not due to a lack of money but rather a deficiency in financial literacy.
Gaining a comprehension of money can revolutionize your life and prevent you from making costly mistakes.
Many people experience financial hardship not due to a lack of money but rather a deficiency in financial literacy.
Gaining a comprehension of money can revolutionize your life and prevent you from making costly mistakes.
@snowballtracker β’ Set clear financial goals
Having clear financial goals is essential to becoming disciplined with money and creating wealth.
Define what you want to achieve and set specific, measurable, achievable, relevant, and time-bound (SMART) goals to keep yourself on track.
Having clear financial goals is essential to becoming disciplined with money and creating wealth.
Define what you want to achieve and set specific, measurable, achievable, relevant, and time-bound (SMART) goals to keep yourself on track.
@snowballtracker If you enjoyed this thread, please like, comment, and retweet the first tweet.
I write about
- Personal Finance
- Investing
- Wealth
Subscribe to receive a free guide on the top 5 ETFs to hold for life: bit.ly
I write about
- Personal Finance
- Investing
- Wealth
Subscribe to receive a free guide on the top 5 ETFs to hold for life: bit.ly
I invest $300 per week in the S&P 500.
π 10 Yrs - $219,535
π 20 Yrs - $706,824
π 30 Yrs - $1,788,431
Don't miss out! Simplify your financial journey with our guide to index funds.
Get your copy today.
accentinvesting.gumroad.com
π 10 Yrs - $219,535
π 20 Yrs - $706,824
π 30 Yrs - $1,788,431
Don't miss out! Simplify your financial journey with our guide to index funds.
Get your copy today.
accentinvesting.gumroad.com
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