Sunday, December 8, 2019

Living the Life You Want

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Living the life you want takes intentional planning.

Living paycheck to paycheck is no fun.  All it takes is an emergency or one wrong investment and you are in debt for most it would be “deeper in debt”

The next time you get paid  consider paying yourself first is the first rule to feeling liberated.

That means each pay day you should make it a habit to transfer part of your income (10 to 20 percent) to an investment account – and forget about it.

Pay down on those credit cards.  Start with the smallest and paydown to one-third off  the entire balance then start on the next on.

Use tax advantage methods such as retirement savings, IRAs and MyRAs until you’ve maxed them out.

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Since most of us are uniformed about stocks and bonds, these methods are easy and proven ways to manage your investments.

If you can invest through your workplace, do it.  Some workplace let you invest in cryptocurrency the same as you would stocks.

Establish a monetary reserve to get you through tough times or unexpected expenses.

Build your savings account to cover emergencies.  (cover eight months worth of bills is great)

Do what makes you feel most comfortable.

It’s best to purchase a lower priced home than one you’re qualified to buy.

The financial freedom of having enough money you need to feel secure both now and in the future is a tough goal to achieve in these tough times.

But, when you follow the advised steps to keep out of overwhelming debt and paying yourself first, you will eventually achieve the dream.

Sacrificing today to build financial freedom and the ability to achieve what you really want in life should be your goal.

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