01/16/2024
There are a few bits of financial advice I was given in my 20s that I did not take...
I grew up in a household that had poverty consciousness.
No one ever taught me to balance a checkbook, earn a living, save, invest, or plan for my financial future.
In my 20s, I hung out with a group of tech kids. I watched them go from eating ramen to driving Porches. They sold their start-up for a ton of money and they became millionaires overnight.
I did not. I was working as a waitress, nanny, and personal assistant. I had just enough to ge by but I was NOT thinking of the future at all.
One of my newly rich friends told me to take 10% of my income (no matter how small) and save it.
I thought "yeah sure, you can do that but I am living paycheck to paycheck so I can't."
Now looking back I wish I had listened.
At the time I was making maybe $1500 a month and if I had saved $150 a month and invested it for 20 years I would now have an original Investment $45,000 but with an average rate of return of 7% I would have almost $123,000 in my portfolio.
And If I could have gotten that monthly contribution up to $500 a month, I would have $400,000
The difficult pill to swallow is the fact that I spent that money anyway...
At the time I spent it on drinks, coffee, clubs, drugs, moving, and clothes.
Luckily, I made a smart investment in my early 30s. I said yes to network marketing and I joined a company that has a product that I am crazy about and I talked about it with others. in 2012 I started taking 20% save it and investing it. and even though I did not start until my late 30s I am on track for retirement.
But you know what I treasure more than then the wealth I am building?
I treasure the knowledge and lived experience I have.
I can now teach habits and pass on knowledge to my children, my friends, and the people who choose to partner with me in my network marketing business.
As a leader in network marketing, you will not see me hype cars, trips, or ranks.
I will hype living below your means, saving and investing 20%, earning more than you need, and giving back to your community.
I want to learn to grow our own food, raise our own animals, and find true freedom from the oppressive systems we live in.
If you have ever felt the call to partner with a network marketing company or work on your financial health, then reach out to me. We can take a walk or jump on the phone and talk about it.
P.S.
Are you curious to see what you need to save and invest every month so you can have income long after you stop earning? I have linked an investment growth calendar in the comments from one of my mentors.
