Set for Life: Dominate Life, Money, and the American Dream by Scott Trench

Author:Scott Trench [Trench, Scott]
Language: eng
Format: epub, azw
Tags: Business & Economics, Personal Finance, Budgeting, Personal Success, Self-Help, Personal Growth, Success
ISBN: 9780997584714
Google: aLyNvgAACAAJ
Publisher: Biggerpockets Pub Llc
Published: 2017-04-22T22:00:00+00:00

Part III

Moving from $100,000 to Financial Freedom

In part I, we described how to accumulate your first $25,000 by living frugally, and explained how this helps springboard you toward opportunities to reduce or eliminate your housing expenses and increase your income potential. In part II, we used that first $25,000 and its year of financial runway to purchase housing and transition into work that offers greater potential on the income front.

When you have succeeded at part II, the ball really begins rolling. At this point, you live a low-cost lifestyle. At this point, you feel confident taking chances with new job opportunities. At this point you know how to live for free or for exceedingly low cost. At this point, you are accumulating thousands of dollars in cash per month from your high-income job and frugal lifestyle, and have accumulated tens of thousands of dollars in easily accessible wealth. Your assets are likely to rapidly expedite financial freedom, and your progress is accelerating. You are going to be hard to slow down.

Now it’s time to use that accumulated wealth to create passive income. It’s time to learn how to invest in such a way that you are never again dependent on wage income to pay for your lifestyle, so that you are Set for Life.

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