Rich | RAM Finance @ramfinance
I work in finance & believe that personal finance is personal 🤟🏼 Investing since I was 16 🤑 Perspective💡➡️ Financial Literacy💰➡️ Financial Freedom 💸 linktr.ee/RAM_Finance Orlando, FL Joined July 2020-
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If you feel you need to be in a relationship, you're not ready for one Read that again
Me @ 22 -College Kid -$0 -Drank Every Night -Out of Shape Me @ 28 -$1.4 Million Net Worth -Top Sales Rep -Business Owner -Own 7 Rentals -Best Shape of My Life A lot can change very quickly if you commit daily… Not to who you’ve BEEN, but to who you WANT TO BE. 💯
The average person feels happiness from achievement from 3 hours to 3 weeks. That means if you have a 10 year goal you reach, you may only feel happiness for 3 hours. You have to prioritize falling in love with the process.
The biggest budget killers I see younger people making? Home renovations If you're 25, it's ok that your house doesn't look as nice as your 55 year old parent's
If your friends don’t want to travel, go without them If your friends don’t want start a new hobby, do it without them If your friends don’t want to go on a hike, go without them Don’t rob yourself of experiences because your friends aren’t ready to
You get rich by intention. Not by accident
Most people hate their lives because temporary pleasure got the best of them.
Things you shouldn't worry about in your 20s: - great sex - perfection - being filthy rich - traveling the world Things you SHOULD worry about: - investing - education - experience - networking Stop focusing on the wrong things, expecting greatness.
Forget Netflix. Forget Politics. Forget Sports. Speak to your friends about money. This shouldn't be an uncomfortable subject. - How to generate income - How to invest and grow it - Future opportunities Get comfortable with the idea of discussing ‘money’.
Retirement is based on wealth, and it’s different for each person
Amount needed to invest per month to hit $1,000,000 by 50 (8% annual return) at following ages: 20 - $671 25 - $1,052 30 - $1,698 35 - $2,890 40 - $5,467 45 - $13,610 Numbers may seem daunting, but they're the reality for those looking to retire 10+ years early
@DecadeInvestor You can’t let other people’s opinions get in your way I’ve found it either comes from them wanting to be validated by convincing you to do what they do Or they regret blowing their 20’s and don’t want you to make them feel like a failure
@rinkydoofinance Personally I think if your job feels like a big part of your identity you need to reevaluate some things It should be what you do, not who you are If I lost my career, I’d adjust my focus to be more about my interests and passions
Two things you should never trade for money • Your health • Your time
This is actually my goal This is absolutely doable for anyone So this should be your goal too Start seeing the long term freedom and do whatever it takes to get there
True freedom is a paid off home and $2,500,000 taxable brokerage Not only is your largest monthly expense gone, but a 4% annual withdrawal on $2,500,000 is $100k And if you're married, standard deduction ($25.1k) drops that $100k into the 0% long-term capital gains tax bracket
@DividendRoller Automatic investments are a game changer Super easy to manage and they do all of the work for you. There really aren’t any excuses
@FIMindset__ It’s like the say “the grass isn’t always greener on the other side” often we compare to others without knowing their full story which inherently makes us feel lesser. At the end of the day the only thing that matters is yourself
Level this up by writing them down somewhere you see them everyday It’ll serve as a reminder and motivator to keep you going
Before you start investing it’s helpful to develop some short-term and long-term goals. 🔘Short-term goals can include saving up to buy a home, a new car or a dream vacation to Europe. 🔘Long-term goals can include retirement or creating a college fund for your future children.
Your 9-5 is: - A cash generator to invest - A learning opportunity - A place to network Your 9-5 isn't: - The final chapter of your life
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