The “Freedom To” Future

Key Takeaways

  • The current generations heading in to retirement no longer like to use that word as it holds a negative connotation, instead, think of that life transition as freedom from to freedom to.
  • The Millennial generation has a different outlook from previous generations in terms of how they want their life to look and when they want to retire. They are also saving more money than any of the previous generations.
  • It’s important to have a plan and a path set out to achieve your “freedom to” future, and making good decisions about your money throughout that plan is a big part of it.

All Together Now – The Wealth Portal

Key Takeaways

  • There are many apps out there that can help you track your finances separately, but it’s cumbersome and time consuming.
  • A wealth portal puts all your finances in one place, providing you with a quick summary that you can easily glance over once a week to ensure nothing is amiss.
  • Using a wealth portal puts control back in your hands to view your finances in one place, thus saving you time and energy for other important things.

Save First, Spend Second

Key Takeaways

  • If you want to build wealth successfully, you need to save first and spend second.
  • The rule of thumb when it comes to saving is to save about 15%.
  • If you spend first, you can get used to the niceties in life, and then it can be very hard to have to go backwards later on in life when you find you haven’t saved enough.

Half the Clothes, Twice the Money

Key Takeaways

  • When we get ready for a vacation, we typically pack too many clothes and don’t budget enough money.
  • When we make big purchases, we tend to forget all the associated costs that come with buying the item.
  • If you plan in some extra money beyond the main cost of what you are purchasing, you’ll save yourself some frustration by having a buffer for any extra or hidden costs.