finance55 10 months ago

I have finally finished my book where I outline how I achieved Financial Freedom and retired early. If you want to do the same you can get my book via the following link:

Payhip

The Road to Financial Freedom

This book is about my journey to Financial Freedom and early retirement. Hopefully there will be information in it that will help you to do the same.

finance55 1 year ago

Netflix just told me my iPhone wasn’t part of my household account whilst sitting IN MY HOUSE and USING MY HOME WIFI. They are very close to losing my custom. They suggest I log in to Netflix via my phone at least once per month to avoid this. A great user experience - NOT

finance55 1 year ago

Found on the beach in Somerset

finance55 1 year ago

There is a clear difference between owning shares and bonds When you have ‘shares’ in a company, you own a part of the company

finance55 1 year ago

When companies issue bonds, they are often referred to as Corporate Bonds In the UK, when the government issues bonds they are sometimes called ‘Gilt-Edged Securities’ or Gilts for short

finance55 1 year ago

When a company or a government require extra money they may issue a ‘bond’ in order to borrow the money they need A bond is therefore a form of IOU that can be traded by investors and usually has a fixed regular income

finance55 1 year ago

The terms ‘stocks’ and ‘shares’ tend to be used somewhat interchangeably However, there is a subtle difference The term ‘stocks’ should be used when discussing ownership of companies in general And the term ‘shares’ is used to describe ownership of a specific company

finance55 1 year ago

Know the difference between an #asset and a #liability -and then buy assets!

finance55 1 year ago

Assets are your friend Liabilities are your enemy

finance55 1 year ago

Three steps to financial success: 1️⃣ Pay off your #debt 2️⃣ Build an emergency #fund 3️⃣ #Invest for the future 👉🏼 Finance CAN be simple

finance55 1 year ago

When younger I held #Index funds due to their low cost Once I started to think about #retirement, I switched to income funds These give me some growth AND a regular #income It’s possible to get 4 - 5% income via this approach without selling any of your holdings

finance55 1 year ago

What does ‘retirement’ mean to you? Will you give up work completely and focus on your hobbies or will you need some sort of work to give your life meaning? Knowing the answer to this will help you plan for ‘retirement day’

finance55 1 year ago

You should have easy access cash available for an emergency This doesn’t have to be in a low interest account You can ‘ladder’ your savings in fixed term accounts that release a set amount each month

finance55 1 year ago

Be clear on your #financial objectives Why do you #invest? Are you growing ‘net worth’ or are you building a ‘monthly income’ This will guide which #assets you are going to buy

finance55 1 year ago

A key step to #Financial #Freedom is to know where your #money is spent Call it a #budget, a financial plan or whatever It could just be a list But you need to know

finance55 1 year ago

To become “Financially Independent” your first step should be to reduce #debt Have you checked how much interest you pay on any debt you have?

finance55 1 year ago

Lots of people struggle when it comes to #money Some people take the time to increase their #financial intelligence 👉🏻 Take the time to learn about money and money will look after you

finance55 1 year ago

To #retire early you need to be “#financially independent” You need to be able to live without the need to ‘earn money’ through traditional work #Passive income is one answer, which can be earned from #investments

finance55 1 year ago

Shares vs Bonds? Buy #shares and you are buying partial ownership of a company Buy #bonds and you are making a loan to a company Shares are more volatile but have greater potential for growth Bonds are less volatile but lower growth A diversified portfolio would include both

finance55 1 year ago

Active vs Passive funds? Active funds are managed by a fund manager with the aim to ‘beat the market’ Passive funds, aim to replicate the market, or ‘track’ an Index Passive funds have lower fees and sometimes perform as well as active funds