This week I sent in another $300 to my investment account, continuing what I’m calling the Countdown to Freedom. This is where I’m saving a few hundred dollars each month. When I get enough, I’ll start to invest. Eventually, it should grow enough to reach financial freedom (where I can make enough from the returns from the investments to replace my income.) This is similar to blogs where people are paying down their debt, but in this case I’m going the other way and growing wealth. In actuality I’ve already made this journey, but thought people might like to see how it is done to inspire them to make the same journey. You’re invited (and encouraged) to do same and let everyone know how you’re doing.
As AC/DC says, it “ain’t no fun waiting ’round to be a millionaire.” Combined with the $300 I invested last month, I now have $600 in my freedom fund. Still, that is $600 more than I had a couple of months ago. When I get to about $3000 I should be able to either invest it in a mutual fund or find an individual stock to buy. That will be early next summer.
I’m hoping that others out there are making the same journey. If you are, please leave a comment and let other know how you are doing. What are you doing to find the money in your budget? How far have you come? How do you think it will change your life to be financially independent? Let us know!
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Disclaimer: This blog is not meant to give financial planning or tax advice. It gives general information on investment strategy, picking stocks, and generally managing money to build wealth. It is not a solicitation to buy or sell stocks or any security. Financial planning advice should be sought from a certified financial planner, which the author is not. Tax advice should be sought from a CPA. All investments involve risk and the reader as urged to consider risks carefully and seek the advice of experts if needed before investing.