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  • When you get your first salary of a thousand dollar!

  • You feel like you are the king of the world!

  • Finally, it's time to live independently.

  • I am my own boss now!

  • That thousand buck seems a lot because a month ago, you had nothing!

  • You no longer ask your mom for money to hung out, you are nowindependent.”

  • Soon, you will be achieving your huge plans that you have been thinking over for years.

  • However, after some time you start to change, your needs begin to grow.

  • You no longer want to move around in public transport.

  • The idea of merely being full kinda seems too simple.

  • Thankfully you got a promotion so now you are making 1500 dollars a month.

  • Finally, you can drink something more expensive, you can eat more often outside.

  • Maybe you can even take a cab instead of being lost in that crowd (metro).

  • By the way, what about your phone.

  • You need Apple's flagship since your iPhone 8 is too old already, especially with a salary

  • of 2000 dollars(another promotion), that shouldn't be a problem..

  • Yes, the price tag is a little too high, and you will need to take a loan, but man; The

  • applications will be a millisecond faster, the games will run a little smoother and your

  • 47 followers on Instagram will definitely appreciate that slightly better camera.

  • At some point, you start to notice that your salary has doubled, but your life didn't.

  • You still work in the same place, do the same thing.

  • You start feeling like you are not making enough.

  • You even start borrowing money.

  • But what's the problem?

  • You are now making more money, and yet you feel like you got poorer.

  • You had a dream once, travel, see the world, meet different people, learn to speak a new

  • language, dance.

  • And with more money, you should have more opportunities to experience that, but it feels

  • the other way around.

  • Maybe you should make, even more, then you will definitely be happy and realize your

  • dreams.

  • But I want to ask you, what do you think you really need?

  • More money?

  • The truth is that a successful lifestyle leads the person to an endless cycle of expenses,

  • without being able to save.

  • With a higher salary, you will buy the exact same things but a little bit more expensive.

  • You will buy slightly better food, clothes and you will grab a cab instead of a bus.

  • That's what consumerism is all about.

  • It's a strategy that's used by companies to drain every penny out of you!

  • Can you answer this question honestly, how much money do you really need in a month?

  • You haven't thought about that.

  • That's precisely why a job is a modern slavery for you.

  • However, you can use it to get your freedom!

  • Before you achieve a particular goal, you must first see it!

  • And here you have to follow the rule of 4%.

  • Whatever the amount of money you need (30K USD) divided by 4%.

  • This is how much you should save.

  • The stock market grows at an average rate of 7% adjusted to inflation.

  • So if you invest 750K dollars, you can withdraw 30K dollars every year, and your investments

  • will still be growing.

  • That's what passive income really is.

  • You will no longer have to live in a specific place, work in a job that you hate.

  • You can simply do whatever you want for the rest of your life because your passive income

  • has your back.

  • You can still work but only if you love it!

  • And that's what finical FREEDOM is!

  • So where exactly should you start!

  • Step One, Track your expenses and find out how much precisely you spend!

  • Step 2, figure out which categories can you optimize.

  • If you spend 150 bucks on sweets a month.

  • 5 dollars here, another 7 there, they add up.

  • Stop that!

  • Step 3, fix the amount you want to save.

  • So that you have a clear idea of how much money you spend and how much you put under

  • your pillow.

  • Of course, you will have emergencies, but not every single month.

  • Therefore, be rational.

  • Now, the question is, what should you do with these savings.

  • I can see 2 options.

  • Option 1 - You can Invest through an investment fund, which is a company that invests in hundreds

  • of other companies and that's the best option for most people.

  • Option 2 - However, If you are willing to take it to the next level, you can create

  • your investment portfolio where you will invest in individual companies such as google, amazon,

  • facebook.

  • I have made multiple videos on the stock market so you can check them out for further details.

  • This strategy is of course not going to make sense in the short run, but in 5 years, for

  • example, you can build a stable passive income of a few thousand dollars a month and retire.

  • It's mostly going to depend on how hard you are willing to hustle.

  • Are you going to save 20% of your income or will go hard and save 60%.

  • You are the one who will decide!

  • Consumerism or Financial freedom?!

When you get your first salary of a thousand dollar!

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The Real Truth About Getting Rich

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    Summer posted on 2020/09/12
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