This is my second attempt at creating a wordpress blog. My goal is to provide stock market based education, provide real time investing opportunities and gamify finance through contests, games and prizes.
The main focus will be on finding the best capital efficient companies trading at reasonable prices and short term option selling strategies to provide consistent income. My goal is to produce consistent returns from stocks to accumulate enough assets to be financially independent. Join me on my journey to financial freedom.
Of course while I believe the strategy will be successful over time the first step to any journey is to build a base. Just like homes need solid foundations to last through the generations, the path to financial independence, whether the goal is to retire at 30s, 40s, 50s, or 60s or to semi retire to pursue goals more important to you, the first step is to have adequate savings. If you are unable to save large portions of your salary you will never be financially free.
The average millionaire, according to “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, by Thomas J. Stanley”, saves 21% of everything they earn. Millionaires are also always looking for opportunities to earn additional income. I highly recommend the book as it really opened my eyes to my path to financial success.
Another great resource for motivation is blogger Mr. Money Mustache. I recommend you read and save the following post as it easily tells you how long it takes to reach you goal based on percentage of savings: http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
Let’s become wealthier and wiser together.
P.S. It is recommended that you have at least $25,000 of investable assets which you will not need for many years (this is a long term investment account). (Do not invest your rent money) I would also recommend that you have an emergency fund in a checking or savings account so that if you have a big expense or job loss you will not have to tap the long term investment account. If you do not have sufficient funds, I recommend following the strategy in a paper trading account so that you are familiar with everything when the time is right.
P.P.S What other financial topics would you like to learn about?
Disclosure: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. The information provided should NOT be considered advice. The topics discussed are risky and have the potential to lose a substantial amount. I am not an investment professional and therefore do not offer individual financial advice. Please do your own research before investing.
#steemleo #leofinance #leo #financialfreedom #independence
Posted from my blog with SteemPress : https://sweerch.com/2020/04/17/wordpress-blog-reborn-join-my-quest-for-financial-freedom/