LESSONS FROM WHAT IT TOOK TO BECOME 100% DEBT FREE
by: Ian Dunlap - The Master Investor
100% DEBT FREE: I WILL GIVE THE BLUEPRINT TO YOU Being debt free is a goal that a lot of us have and I want to share some of the steps that you can use to get you there. Being debt free comes down to 95% action and 5% information. (SCREENSHOT BELOW)
It takes a lot of sacrifice to get here but trust me it is worth it. A lot of people will tell you “being debt free is overrated” or “being debt free isn’t sustainable” but i will tell you personally THE SHIT FEELS AMAZING” Zero Debt + Cashflow + Giving to Others = IS THE ULTIMATE BLUEPRINT I can’t wait to share the steps that I took to get here but when you are able to be debt free personally it gives you a certain level of freedom that very few things will give you. Step 1: Use the profits from your business to pay off your personal debt - no Lamborghini's, no paying to get a random IG model body done lol, and no throwing money like Blacc Youngsta. Step 2: Pay off all debt except the house utilizing the debt snowball. Step 3: 6 months of savings in a fully-funded emergency fund in case some crazy shit happens like COVID. Your ultimate goal is to get to 60 months of savings. Step 4: Invest 20% of your household income into Roth IRAs and pre-tax retirement plans and if you have additional and any additional revenue sources aim to invest 50% of those. Step 5: College Funding (i.e. 529 plan). Step 6: Pay off your home early. Step 7: Build wealth and give.
17 AMAZING BENEFITS OF BEING DEBT FREE
1. More Free Income
2. Earlier Retirement
3. Less Risk
4. A Better Credit Score
5. Better Job Prospects
6. Less Stress
7. Better Mental Health
8. Higher Self-Esteem
9. Better Cognitive Function
10. Fewer Illnesses
11. Lower Blood Pressure
12. Less Pain
13. Better Preventive Care
14. Better Relationships
15. A Stronger Marriage
16. Being a Better Parent
17. Being Able to Help Others
18. BEING ABLE TO SAY "NAH BRUH, I DON'T NEED THIS DEAL, I APPRECIATE YOU THO" LOL
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Ian Dunlap, Master Investor. Leader of Red Panda.
Twitter: @_masterinvestor
#Investing #Money #Finance #StockMarket #ShopBOB
