2/20/2023 0 Comments Cashflow 101 systemThe $750,000 income family increased its savings rate from 5% to nearly 30%, putting them in position to retire in their 50s.Īn automated cash flow system should include 4 basic steps: #1 Pay Yourself First Automated Cash Flow SystemĪfter implementing an automated cash flow system, the $160,000 income family implemented an automated plan to pay off debt in 7 years. A good cash flow system should help you determine the best balance of spending in ways that make you happy, bring you peace of mind and express your values while also paying off debt, saving for known and unknown future expenses and building a retirement nest egg. Save More and Live Better - Put Your Money on AutopilotĪn automated cash flow system can take a lot of the drama out of managing your money. But I’ve also worked with a dual-income family making $750,000 a year who were deep in credit card debt and barely saving 5% of their gross pay. Over the past 12 months, I’ve worked with a single-income family making $160,000 with $175,000 in student loans. If you buy the big house, drive the Model S, send the kids to private schools and make the minimum payments on your student loans, you may never save enough money to retire comfortably. For many people, though, even high-income physicians, this is often much easier said than done. For those of you lucky enough to be natural savers, this is intuitive and relatively effortless.
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