2024: Investing, Innovating, and Evolving

Crafting Your Path to Financial Triumph and Personal Growth

You made it. Take a moment to soak this in and acknowledge all that you’ve accomplished. Every day you’ve had unique challenges, ones that no one fully comprehends but you. Amidst these challenges, you displayed resilience, patience and love, which is what defines us as men. Weathering the storm of highs and lows with grace and determination. As you look in the mirror, remember, the reflection you see is more than just physical; it's a testament to your endurance and the potential for growth. You ready for this year? Lets talk about it and get you prepared!

So what’s the topic today?✍️ 

WHERE DO WE START?

🤯YOUR MINDSET FOR 2024

We’ll start with the foundation, mindset. It forms the cornerstone of your journey into the new year. Cultivate a mindset rooted in positivity, resilience, and an insatiable hunger for growth.

  • Value: the way you view and carry yourself will carry on through others and how they interact with you. Do not be discouraged by someone who cannot see value in what they do not know. Do not waste your time explaining this to them, but rather show them with your actions.

Lastly, let your why drive your actions. This year, you cannot get off of your path to take on what does not further your why. You must be able to adapt and continue through the coming year to get to where you want to be. No one else will care if you do not.

SO, LETS GET TO IT!

START BY DOING THE WORK💪

  • Get involved in investing early this year, it’s no longer a wait until things are ideal. Now is ideal. Get that small business idea out that you've been brewing, acquiring an existing business, start that diversified stock portfolio, or buy that real estate. Investing is here to serve you, did you realize that? It's not just about monetary gains; it's about sowing seeds for a prosperous future. Investing isn't solely about money; it's about investing in yourself, your dreams, and the legacy you want to build. Every step taken today is a stride towards fulfilling tomorrow. Don’t ignore this, because you deserve all that you see.

Now that you've grasped the importance of early investment, let's focus on the milestones that pave the way. First, consider the power of reducing expenses; it's not always about making more, but often about spending wisely. No, we don’t advise dropping the coffee, but look closely at how you live and your expense ratio. If you have no idea where to start, consider the 70/30 rule.

70/30 Rule

The 70/30 rule advises spending 70% of your income on daily expenses and using the remaining 30% for savings and investments, breaking down 10% three different ways: investing, debt, and giving. It's a straightforward strategy that helps balance current needs with future financial goals, ensuring a stable and secure financial path.

Look you probably have your own spin on how the 30% should be split to make it work yourself. Maybe the 10% giving goes to a love one to help them out. Maybe you have no debt and you want to allocate that 10% into investing. Maybe your expenses don’t even reach 70%, which is awesome, and you want to use that money to get ahead even more with investing. Remember, this rule is just a starting place for those that don’t know where to begin so find a strong mixture of this that works for you.

WE NEED TO TALK ABOUT EARNING POTENTIAL

BECOME A HIGH NET WORTH INDIVIDUAL😤

  • Next, prioritize enhancing your value to elevate your earning potential; invest in your skills, knowledge, and networks to amplify your worth in the market. Look, you can quote the return for the average S&P 500 return and say why would I want to put this back into my own education? Because that skill can outpace that return, giving you back a dramatic return.

Lets say you are someone who someone who knows you are in a job function you do not love, trust me we’ve been there. Okay, so you identify you want to make more and you have an idea of the skill it’ll take to make the jump for that next monetary landmark.

Great! How long will it take you to get that skill to realize that return? A few weeks? Few Months? More importantly, does it give you a huge return? Perhaps that skill has potential to garner you a 40% or higher pay increase. Sounds like a good idea to weigh against the return of 9% return now, doesn’t it? Give it a shot!

CUT BACK FOR LONG TERM SUCCESS

💸CASH FLOW IS KING

Lastly, discern between investments that generate revenue and those that drain your finances. Does it put money back into your pocket or does it take away? It’s very simple. An asset puts money back into your pocket, while a liability takes money out of your pocket. Look to use your time, money and energy to focus on things that pay you now and in the future.

Thanks for reading today. Please share with others if this resonated with you. It helps us grow and we really appreciate that. For more content like this, keep up with us as we have content like this coming weekly and other ways of engagement.

Reply

or to participate.