Millennials are ruining everything, right? Avocados. Libraries. The real estate market. Marriage rates. Only if you buy into this nonsense. We can learn a lot from this dynamic generation – if we’re willing to observe. Here are a few things I’ve come to admire about them. Perhaps you will too.
The question I’m most often asked is not simply “how do I become financially independent?” but rather “how do I become financially independent as quickly as possible?”
While there’s no one-size-fits-all answer to these questions, I can help you determine the best course of action to find your version of financial independence…as long as you’re truly committed to the actions you must take. If not, stop reading now and keep ignoring your finances. But if you are really serious about this, read on!
Unfortunately, most of us depend on the man. That means we require a business owner to sign our paychecks. Yet being the business owner comes with challenges of its own: the well-being of your employees, the success of your company, pivoting with changing economic conditions.
However, one great advantage that a business owner has is the ability to build wealth more quickly. If the business is producing enough cash flow , they can live the lifestyle they want now, pay their taxes, and put aside money in a pension plan and other investment accounts to build wealth and retire in the timeframe they want. The business itself is an additional asset that can add to their personal wealth when it’s sold.
Do you want to make the best-informed financial decision all of the time? Duh. Of course you do. You’re not a dummy. Well, what if I told you there was a way to always make the correct financial decision? It probably sounds like some scam, but it isn’t. It’s the power of compounding that Albert Einstein supposedly referred to as “the eighth wonder of the world.”
