Income – Expenses = Financial Independence Fuel (aka the potential to save)
Let us look at an example:
Income = $7k/month
Expenses = $5k/month
Fuel = $2k/month
Often, we focus on reducing expenses. If there are areas that can be reduced, awesome! However, we only have the potential to lower our expenses so much ($5k in this example).
In comparison, we have the potential to increase our income exponentially.
Don’t just focus on decreasing expenses, but in the power of investing in yourself to increase income.
10 Actions To Take 10 Years Before Retirement
In this paper we discuss 10 actions you should take to develop and deploy a successful long-term wealth plan. It will help you make decisions about your financial journey today and well into your retirement chapter.