7 Elegant Steps to Financial Self Reliance

Simple Money

So, without any fancy preamble, here are the 7 seven steps:

1. Open a low-fee reputable brokerage account.
2. Skim 20% off every dollar that comes your way (no exceptions) and send it  to your brokerage account
3. Wait till you have $1000 saved in your brokerage account
4. Buy a single low-fee indexed all-world fund
5. Repeat steps 2, 3 & 4 mindlessly (ideally, automate these steps)
6. Get on with really enjoying life with the remaining 80% of your income.
7. When 4% of your brokerage portfolio’s worth equals your base yearly expenses, then you are 100% financially self-reliant

NB: This post is not financial advice.

I am not a financial adviser nor do I have any finance advice qualifications.
Please do your own thorough research and/or consult a trustworthy independent financial advisor

Oh, by the way – step 6 is the most important one.

Take care and stay nice!

Phil

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