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I recently saw a video on CNBC about layoffs, particularly virtual layoffs, and it was (is) so disappointing to know you cannot depend on job security from an employer. (This is the video I saw.)
So I figure that it is best to invest in yourself and create your own job security. Investing in yourself has many meanings to different people. It can mean to practice self-care, treating yourself to a makeover, or even simply treating yourself to your favorite desert. However, when I say invest in yourself, I mean control your money, keep more of your money, minimize taxes, and be your own stable job.
How did I start investing in myself
One way I started investing in myself is that I took advantage of an opportunity to start my own business in financial planning. It began with my interest in learning more about wealth management and taxes, and how to use that info to better my financial situation.
I also began building my own nest egg for retirement instead of contributing to a traditional 401k at my 9-5 job. (While many employers offer retirement plans like a 401k and enrollment is simple, consider employer matching and vesting periods.)
And I continually learn more about which accounts to contribute the most to that will minimize my taxes and build wealth. Because my goal is to have financial freedom!
So begin learning more and take control of your financial security. There are many resources out there available that you can use. If you are always on the go (like most hard working people) consider downloading info on Audible and learn while on the go. I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliates sites. As an Amazon Associate, I earn from qualifying purchases. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.
Create your financial independence
Becoming financially independent means that you don’t have to depend on a job for income. You depend on yourself.
One way to become financially independent is by increasing or adding streams of income whether it’s from a part-time job or side business.
And, of course, you need to eliminate debt and minimize your tax liability.
If you’re ready to become financially free, it’s time to identify your goals and begin your journey.
To learn more on how I began my began my business and how you can start investing in yourself, contact me.