Thank you for visiting and listening to another episode of the Evolve & Elevate podcast! This episode covered some of the basic principles around living simply & building a foundation for a financially stable future.
With persistence and financial discipline - you will inevitably reach financial stability. Growing wealth is a science with strict rules of engagement – learn them and use them!
In 2018, as a single father earning a 40k (41.3k to be exact) a year salary– I was able to follow the science of wealth building and max my 401k (18.5k USD), purchase a rental property (no money down) and turn a 35K investment with 6 months of time investment (DIY Remodeling) into a 1K/month 3 year signed lease. (that’s a paid off mortgage on a property now worth double in three years!) Imagine repeating that deal one a year for a decade – what would your life look like?
Through simple living within a predetermined budget and research into the basic principles of wealth building – you too can build a foundation for which to grow your future financial stability upon!
But no one will do it for you – get out there and get it done! Stay up!
Check out some additional sources of information below ---
https://www.youtube.com/watch?v=VaME4iHUhSE&t=210s Walden by Henry David Thoreau
https://www.youtube.com/watch?v=JHcGmiZqKXo – Minimalism philosophy
https://www.investopedia.com/articles/retirement/08/401k-info.asp - basic 401k information
https://www.investopedia.com/mortgage/real-estate-investing-guide/ - basic real estate investing information
https://thephysicianphilosopher.com/cant-afford/ - Don’t buy if you cannot afford it! (‘Most’ Debt is not ‘good’ debt)
Some brokerage phone applications I have enjoyed using:
WeBull
E*TRADE
Robinhood