4 Steps to Prosperity

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By Miguel Dos Anjos

 It all starts with budgeting; 


1-      and getting rid of all bad debt. Bad debt is the opposite of debt that generates income such as mortgage from your rental unit that provides you with monthly cash flow.

2-      Once debt free, save 3 to 6 months into your emergency fund. Emergency such as job loss, or sickness, not Macy’s discount week, or the new iPhone 30. This money can go into your high APY interest savings account, and you will start seeing your money grow. 

3-      Debt free, emergency fund ready. Invest your money, maybe 401k retirement account, or a Roth IRA retirement account are great starts that provide great benefits.

4-      I do not know what investment you like the most, but invest your money. Stock market, real estate, business, or some other investment you like.

You decide how much risk you are ok with. At my current situation in life, and 33 years old, I’m ok with a 20% return, and risk. These type of investments involve smaller risk, and a return high enough to be meaningful. Consult with your financial adviser, and take in consideration your specific situation before making any major decisions in your financial life.

Don't Lose Money
Leaving saved money under the mattress means it loses its value at a 3% average annually to inflation for this reason investing becomes such a good idea.

Only you know what true happiness is to you. Personally investing time learning, and growing my financial knowledge, and knowledge in general gives me great peace of mind, and if you took the time to read this post it means you as well value information. Owing too much money, or having crazy debt is a stress that I highly avoid.  

We get to choose, what to invest in, and if we even do want to invest. By being scared of failure and taking no risks will result in less failures, but by not trying will also result in less achievements. Imagine the results that can be accomplished by standing up, and taking a few risks. I am not ok with working 40 to 50 years of my life making my big corporation bosses beyond rich, and myself just be scraping by. A short term plan (4 months), a mid term plan (1 year), and a long term plan (7 years) provide achievable mile stones that together over time tell a successful story.  

Let us know what are some of your financial goals in the comments down below!

Take charge of your financial life. Only you have the power to make your life great!
My video: 4 Steps to Prosperity

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