After about a month of blogging and reading other tremendous writers’ blogs, I’ve been trying to narrow down the best pathway I can take to becoming financially free. But, what I have learned is that many people have done it their own way. With the right mindset, anyone can become financially free if they set high expectations for themselves, and truly try to reach their goals. I don’t remember the exact quote, but a businessman I have always looked up to once said something along the lines of,
“The only reason that small business fail is because the owners aren’t willing the put in the work to make it succeed.” - Mark Cuban
That quote by Mark Cuban has always motivated me, whether it’s through making investments in stocks that pay high dividends, working towards buying properties, doing my due diligence in research, or even just being frugal. What I have learned in the past month has broadened my horizons and inspired me to believe in my goals of becoming financially independent at a very early age in my life. I’ll try to narrow down what I have found in the past month on becoming financially free:
1. Push Yourself
Setting high goals is the only way to reach financial independence. For someone like me, who before this year, had a very low net worth, it may be tough to set the goals I have on my “goals” page. But, I know there is a slight chance that I can reach them with the right motivation and the right, strategic investments. Being frugal is another way I will be able to reach those goals. I believe in myself, and knowing that I put my best foot forward will satisfy me whether I am able to reach those goals or not. But without setting high expectations for myself, I’ll have no bar to measure myself at the end of the day.
2. Be Attentive
Listen to what others have to say before making a quick judgment on certain investments. There are a lot of great minds out there in the blogger world, and I am learning to take advantage of what they have to say. Now, I don’t always agree with everything they say, and I still go with what I believe in the end. But, before making decisions on investments, it can help to hear what another voice says about that stock, home, or other investment.
3. Understand All Possible Outcomes
It’s important to understand where you are headed with your goals. What do you want out of financial independence? Do you want to live off on your own, hiking and surfing everyday (which sounds totally awesome)? Do you want to be an online blogger or do you want to work in real estate? Do you want to start a family? I think that knowing where you are headed can change a lot of the key investments that you make. Investing in dividends is a great, safe way to net passive income and can be a nice way to support a small family if there is other income coming in. Real estate is also a great way to net passive income, but how many properties do you need to support yourself? Do you need a few to support a family? A lot of these questions are important to ask yourself before committing to a large investment.
4. Don’t Be Afraid of Failure
I am really set on retirement by my early 30’s. Those are lofty goals for myself, especially since I will be 200k in debt by the time I graduate. Now, I know I’ll have to do really well with my investments to reach those lofty goals. If I don’t succeed, there’s a good chance I’ll have to work much longer than I expected. But I’d rather take the risk on those investments and have the chance of failure, rather than working my whole life for a CEO who is making billions of dollars off me. The point is, if you do your homework, research your investments, and buy at the right time, you shouldn’t be second-guessing yourself.
What do you guys think? Any other ways you motivate yourself to reach your goals? Let me know in the comments!
“The only reason that small business fail is because the owners aren’t willing the put in the work to make it succeed.” - Mark Cuban
That quote by Mark Cuban has always motivated me, whether it’s through making investments in stocks that pay high dividends, working towards buying properties, doing my due diligence in research, or even just being frugal. What I have learned in the past month has broadened my horizons and inspired me to believe in my goals of becoming financially independent at a very early age in my life. I’ll try to narrow down what I have found in the past month on becoming financially free:
1. Push Yourself
Setting high goals is the only way to reach financial independence. For someone like me, who before this year, had a very low net worth, it may be tough to set the goals I have on my “goals” page. But, I know there is a slight chance that I can reach them with the right motivation and the right, strategic investments. Being frugal is another way I will be able to reach those goals. I believe in myself, and knowing that I put my best foot forward will satisfy me whether I am able to reach those goals or not. But without setting high expectations for myself, I’ll have no bar to measure myself at the end of the day.
2. Be Attentive
Listen to what others have to say before making a quick judgment on certain investments. There are a lot of great minds out there in the blogger world, and I am learning to take advantage of what they have to say. Now, I don’t always agree with everything they say, and I still go with what I believe in the end. But, before making decisions on investments, it can help to hear what another voice says about that stock, home, or other investment.
3. Understand All Possible Outcomes
It’s important to understand where you are headed with your goals. What do you want out of financial independence? Do you want to live off on your own, hiking and surfing everyday (which sounds totally awesome)? Do you want to be an online blogger or do you want to work in real estate? Do you want to start a family? I think that knowing where you are headed can change a lot of the key investments that you make. Investing in dividends is a great, safe way to net passive income and can be a nice way to support a small family if there is other income coming in. Real estate is also a great way to net passive income, but how many properties do you need to support yourself? Do you need a few to support a family? A lot of these questions are important to ask yourself before committing to a large investment.
4. Don’t Be Afraid of Failure
I am really set on retirement by my early 30’s. Those are lofty goals for myself, especially since I will be 200k in debt by the time I graduate. Now, I know I’ll have to do really well with my investments to reach those lofty goals. If I don’t succeed, there’s a good chance I’ll have to work much longer than I expected. But I’d rather take the risk on those investments and have the chance of failure, rather than working my whole life for a CEO who is making billions of dollars off me. The point is, if you do your homework, research your investments, and buy at the right time, you shouldn’t be second-guessing yourself.
What do you guys think? Any other ways you motivate yourself to reach your goals? Let me know in the comments!