Tuesday, July 23, 2024

Achieving Financial Freedom: How Setting These 4 Money Goals Helped Us Get There

Top Money Goals to Achieve Financial Freedom: Advice from Financial Professionals

Are you tired of working at a job that’s not your dream? Do you want to have more control over your financial future? If so, it’s time to start working toward financial freedom. Financial freedom is defined as having the financial means to enjoy yourself without holding a traditional job. It can change everything in your life, but it won’t be easy to achieve. However, with commitment and focus, you can make it happen.

Many financial professionals have already crossed the finish line into financial freedom. They have used their knowledge to ensure their own financial health is off the charts. GOBankingRates spoke with four financial experts to find out the top money goals they set that helped them achieve financial freedom. Here are some of their insights:

  1. Paying Off Debt: Jarrod Sandra, CFP, owner of Chisholm Wealth Management, emphasized the importance of paying off debt. By freeing up cash flow through debt repayment, he was able to start his own business and take control of his career.

  2. Investing In Yourself: Noah Damsky, CFA, founder of Marina Wealth Advisors, invested in obtaining an elite designation early in his career. This move paid off by accelerating his career trajectory and promotions.

  3. Setting Ambitious Salary Expectations: John Bovard, CFP, owner of Incline Wealth Advisors, set a goal to earn $100K or more post-graduation. This goal helped him stay focused, receive promotions, and maximize his 401(k) contributions.

  4. Building an Emergency Fund: Matthew Payne, founder of Plan of Care Advising LLC, highlighted the importance of establishing a fully funded emergency fund. This fund provides security, peace of mind, and the freedom to take risks and chase your dreams.

These financial experts have shown that by setting and achieving specific money goals, you can pave the way to financial freedom. It may take time and effort, but the rewards are well worth it. So, start working towards your financial freedom today and curate the life you want.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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