Do you want to know what is the best financial scenario for your money? We all have our wants, needs and goals in life. The optimal route for the average person, is a road not heavily traveled and hopefully that route can skip over all the money trials and tribulations. For many folks including yourself the desire should always be to travel down the less friction induced monetary highway on the path to ultimate wealth prosperity.
If you agree with the thought provoking message above, it will be to your advantage to continue reading. Once you begin to implement the financial scenarios within this intricately worded post, the scenery will appear as if you are traveling on a Japanese bullet train going over 300 miles per hour, thanks to the financially supercharged decisions you will make. It will feel this way only when it comes to building wealth as the primary objective, as far as life goes. The rest of the time you can slowly enjoy the other pleasures of life one day at a time at the preferred pace.
The ultimate tactic any modern human can do is to begin the supersonic compounding as early as feasible. If your still in the cave man status I predict investing is not in your vocabulary, for the mere fact of fear or maybe ineptitude towards investing.
In addition if you do not take the advice listed below the fate you shall have has been written by millions of indebted citizens. The need to find someone living this erroneous lifestyle can be easily found by simply turning your head in any direction. The struggle is evident in possibly an uncle, cousin, sibling or maybe even our parents. Decades of money mismanagement leads to a constant worrysome reality that will never lead to living in financial independence.
Now let’s focus on the positive side of the spectrum as I will provide you with many steps you need to take given any situation. Please pick and choose what will immediately work best for you, and do it with diligence. Start with one or all of them, as long as action is taken. Without action you will never see results.
The Best Financial Scenario
Maximize all retirement accounts to the best of your abilities.
Live a Cash Lifestyle – Do your ultimate best never to borrow in the future
Strive to have a margin of safety with money – Build a surplus month after month in an Emergency Fund
Forget about Consumerism as things will never make you happy
Read books on Finance or Self Improvement at least 2 per year
Spend time finding investing opportunities and building passive income
Track income and expenses / Net Worth
Allocate all spending based on Percentages
Always give any amount you can to charity
If all the steps above are followed consistently then you will be rewarded an A for effort in regards to personal finance. In addition to having a fine grade point average, the person applying the best financial scenario above will most likely be very wealthy and successfully financially independent in no time.
Comment if you’re already applying the Best Financial Scenario
Rich Uncle EL
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