I'm not a financial advisor. Before doing anything, please consult with your advisor or attorney. With that said below are the steps, books, and resources I used and did for ME to find financial freedom and cont. to be financially free.

 

List of audiobooks/books:

  • Retire before Mom and Dad: by Rob Berger- steps to retire earlier and live off your investments.

  • Playing with FIRE: by Scott Trench- spending less and saving, not having all the expensive things you think you need.

  • Quit Like a Millionaire: By Kristy Shen's Mindset and getting past the idea of 9-5, you can use stocks to retire and fund your life.

  • The Simple Path to Wealth: By JL Collins- Mindset and using stocks to retire and fund your life

  • Set For Life: By Scott Trench-  more about mindset and rental props with some stock advice.

  • The Book on Rental Property Investing: Branden Turner- WHY you should have a rental property as your main investment and how to do it.

  • Rich Dad Poor Dad:  By Robert Kiyosaki- mind set on having money work for you and not the other way around.

  • The Total Money Make Over by Dave Ramsey: MAINLY GETTING OUT OF DEBT if you can't emotionally manage your money like a pro.

  • Richest Man in Babylon: short read but powerful and its shows that no matter who you are and where you came from or where you are, you can make money work for you.

 

 

Key  Terms to know

  • FIRE: Financial Independent Retire Early

  • CashFlow: leftover Money your investments give you once all the bills are paid.

  • Good debt: rental mortgage

  • Bad debt: Cars, credit cards, student loans.

  • Dividends: money paid to you through stocks that pay out monthly or quarterly.

 

Major investments types:

  • Rental houses: Single-family house, ABNB, apartments.

  • Stocks/ETF:

  • Employee 401k and IRA

  • Business

 

Quick steps to Financial Freedom: These are all from a collection of ideas that I lived through and read in the book and podcast over the years of my life…..and still going through :)

  • 1st: Make sure you have a job and start living below your means.( Spend less than you make….a lot less)

    • Budget all your money

  • 2nd: Emergency saving of at least  $1000- $3000 invest 1% of whatever you are making

    • Cut your biggest expenses: car payments, rent/mortgage, etc.

    • Look for small expenses to cut: phone, cable, internet, etc.

  • 3rd: Pay off small debt: Snowball (Ramsey) still invest at least 4%

    •  get a higher-paying job

    • Get a 2nd job (limited time…1yr min)

  • 4rth: Save more emergency fund 3-month expenses. Invest 10%

  • 5th: Start investing: BIG 50-80% of what you make.

    • Saving for the first rental prop

    • 401k/IRA

    • Brokers account Robinhood, vanguard etc.

  • 6th: save 1-2 years of expenses

    • so you can start something new if that is what you want.

    • The saving can be in a broker's account, so it works while you decide.