STEP 4 – Get compound interest working for you! Dollar-Cost Averaging: Dollar cost averaging is an investment strategy with the goal of reducing the impact of volatility on large purchases of financial assets such as equities.You must know the value of what is important to you.Meet with an accountant or someone you can trust and buy insurance.Put those savings in the bank until you have 2 months of income saved.STEP 3 – Commit to automatically investing 3% of your revenue Offer your work for market or slightly higher than market value.Offer your work for less than market value.NOTABLE QUOTABLE – “Short term pain equals long term gain.” – Paul Hood CPA.If you are self-employed, raise your prices to increase your income by 3%.STEP 2 – Increase your income by at least 3% (Beat your boss to work every day) FUN FACT – Marshawn “Beast Mode” Lynch – Saved the entire $49.7 million salary he made with the NFL.NOTABLE QUOTABLE – “Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison (The founder of GE and the inventor of the modern light bulb, recorded audio, recorded sound, etc.).NOTABLE QUOTABLE – “Beware of little expenses a small leak will sink a great ship.” Ben Franklin (The legendary inventor of the Franklin Stove, bifocals, the first flexible catheter, the famous United States diplomat).
STEP 1 – Cut your expenses by 3% by automating your savings
Are you looking to become financially free? Clay Clark and Paul Hood, CPA explain the 4 steps that you must take if you want to achieve financial and time freedom during this lifetime.
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