RE: 1/3 Americans That Earn $250,000 Are Broke

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RE: 1/3 Americans That Earn $250,000 Are Broke

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steven-patrick (71)in LeoFinance • 2 years ago

So much here to comment on... First, my go to advice is to start saving when you get a raise. Save the whole raise so you never see it in your check. Keep doing that as much as you can. Its an easy way to build up your savings rate. Second, there are two components to financial independence 1) earnings 2) spending. Cut your spending. You would be amazed how much you can lower your monthly costs. That helps two ways - it frees up some money to save and it also lowers how much you have to save to retire. If you spend less, you don't need as big of a nest egg to retire. I can go on and on but I'll stop here. I can feel my kids rolling their eyes even though they are far away and can't hear me lol
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love your post rentmoney
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2 years ago in LeoFinance by steven-patrick (71)

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rentmoney (73) 2 years ago

Great advice, I was going to touch on plugging leaks but decided against it. I'm happy that you mentioned it here in the comments. Plugging ones leaks (needless spending) is just as important as earning more.

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