6 Financial Goals To Achieve In Your 30s

"I actually believe that active income is more important when you're just starting out and the reason for that is because active income at the start is your primary wealth building tool and the money you make from it is essentially going to dictate how quickly you can grow your other income streams for example if I'm able to invest fifty dollars and my portfolio returns 20 then I would have made ten dollars but if I'm investing two hundred dollars my portfolio only needs to go 10 and I still would have made more I would have made twenty dollars so putting more emphasis on earnings potential and increasing your active income your primary source will have a multiplier effect because you can also use that money towards other streams in a way that makes the other streams more passive as well"

"I personally keep six months of my living expenses in my emergency fund at any one time and I never ever touch her I leave in a separate account a high interest savings account so I'm at least earning interest whilst it's sitting there and I keep an account which I don't even see because I don't want to remind myself that that money is readily available it's just there to give me some mental peace that if anything happens I always have that to fall back on if I really needed it so I have six months of a buffer the recommended amount is three to six months and if you're self-employed it's six to twelve months"

"because if you only have one stream you're in a risky position right now I have five or six ways that I'm making money both online and offline and there have been times where one of them has taken a hit but I've been okay because I have another one coming through for example one of my income streams is through properties but that stream has taken a hit because of what's going on in The Wider market and the interest rates but it hasn't impacted me because I have other streams coming through and making more money so what I'm trying to say is don't stop at one no matter how secure you think that stream is even working for a corporation we are taught that a job is secure and the non-risky path but all it takes is one person in the company somewhere along the ladder to make a decision and that's it your whole income and your whole livelihood changes"

"if you keep earning and saving at all and leaving in a bank account then by the time you retire your savings will start getting exhausted pretty quickly however if you choose to start investing that money then that money will keep working for you it will keep working for you even when you're not even if you do decide to take some time out or retire you can sustain your lifestyle without worrying about running out of cash"

"people have different views on debt and my personal view is to stay away from it unless you're using that debt as leverage and you know that the returns will outweigh the cost of it if you're not doing that then paying off credit cards and Consumer Debt especially is a wise idea"