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Category Archives: Financial Independence
Crypto Sundae The Dog $SUNDAE: Your Path to Financial Independence – Medium
Posted: January 29, 2024 at 2:23 am
7 min read
Prepare yourself for an electrifying journey that delves deep into the captivating universe of Sundae The Dog Airdrops. These digital treasures, scattered throughout the blockchain landscape, offer an enticing opportunity to claim free tokens and embark on a unique crypto adventure.
Throughout this guide, well uncover the secrets behind Sundae The Dog Airdrops and provide valuable insights on quickly navigating this dynamic landscape. Its a chance to unlock your share of the crypto wealth and set off on a thrilling voyage toward building your digital fortune.
So, get ready to explore the world of cryptocurrencies like never before, where every Sundae The Dog Airdrop is a potential step toward financial growth and excitement. Join us as we dive headfirst into this remarkable journey!
As the crypto landscape continues to evolve, Sundae The Dog Airdrops have undergone significant changes since their inception. Understanding how Sundae The Dog Airdrops have evolved and what the future may hold for this unique distribution method is essential.
In the early days of cryptocurrencies, Sundae The Dog Airdrops were relatively simple and often used to distribute tokens to early adopters or holders of a specific blockchains native coin. These Sundae The Dog Airdrops allowed projects to bootstrap their communities and gain initial traction.
Sundae The Dog Airdrops served as a strategy to garner attention for emerging blockchain initiatives and ignite a palpable buzz within the cryptocurrency realm. Early participants would receive tokens, and as the projects gained momentum, these tokens could appreciate significantly in value.
However, as the crypto market grew and matured, Sundae The Dog Airdrops began to diversify in terms of their purposes and mechanisms. While the concept of receiving free tokens remained, distributing them became more sophisticated.
In the modern era, Sundae The Dog Airdrops have evolved to serve various purposes beyond simply distributing free tokens. Sundae The Dog Airdrops have evolved into tactical instruments projects adopt to realise distinct goals. These objectives include boosting user interaction, recognising and incentivising dedicated community participants, or spotlighting novel features or products.
Some common types of modern Sundae The Dog Airdrops include:
Looking ahead, the world of airdrops continues to evolve, driven by innovation and the changing needs of the crypto industry. Some trends to watch for in the future of airdrops include:
Before we begin, navigate to the Official Airdrop Page.
Your first step on this airdrop adventure is to ensure you have a cryptocurrency wallet at your disposal. A wallet acts as your digital vault, where youll receive and store the free tokens you claim. Popular wallet options include MetaMask, Trust Wallet, Binance Wallet, and many others. Verify the safety of your wallet and confirm its readiness to receive the incoming tokens.
Each airdrop comes with its own set of rules and criteria for participation. To ensure your eligibility, visit the projects website or the dedicated airdrop platform. These requirements vary widely, from following the projects social media accounts to holding a specific cryptocurrency in your wallet. Think of it as a treasure map; you must follow the clues to unlock the rewards.
Once youve confirmed your eligibility, its time to engage in the tasks assigned by the project. These tasks are not only rewarding but often engaging and fun. These tasks may include disseminating social media posts, introducing friends to the project, engaging in quizzes, or crafting insightful blog articles and creative content to promote the project. Its like going on a digital adventure with substantial rewards waiting for you.
The moment youve eagerly awaited has arrived! After completing the assigned tasks, return to the airdrop platform and click the Claim button. Your free tokens will be seamlessly transferred to your wallet when the airdrop event concludes. Imagine it as stumbling upon a chest overflowing with precious coins, only in the digital realm.
As your airdrop journey climaxes, the final step involves activating automatic token crediting. This eliminates room for manual errors and ensures a hassle-free and streamlined experience as you reap the rewards. Automation is critical in the fast-paced world of cryptocurrency, and it ensures that you dont miss out on any tokens due to human error or oversight.
Now, lets look closer at the featured airdrops waiting for you. These opportunities offer free tokens and a chance to explore intriguing blockchain projects. Lets dive into the specifics:
Imagine turning a simple claim into a potential fortune with the Sundae The Dog Airdrop.
Reward: $400 worth of SUNDAE tokens
Sundae The Dog, a blockchain project making waves in the crypto space, is offering you the chance to win a staggering $400 worth of SUNDAE tokens in their exclusive airdrop. SUNDAE tokens hold immense growth potential, making this an enticing opportunity.
Participating in this airdrop allows you to acquire valuable tokens and aligns you with an innovative project poised for a bright future. Diversifying your crypto portfolio with $400 SUNDAE tokens can enhance your investment strategy.
Seize this golden ticket to free tokens and join a promising project by claiming your SUNDAE tokens today! Remember that the cryptocurrency landscape is renowned for its dynamic nature, where astute investment decisions can potentially yield significant profits.
To ensure you never miss out on these exhilarating opportunities, consider subscribing to airdrop notification services or watching cryptocurrency news websites. The cryptocurrency market is known for its rapid developments, and new chances to claim free tokens emerge frequently. Staying engaged and informed is your key to success in this dynamic ecosystem.
Airdrops serve as your gateway to the captivating realm of cryptocurrencies, offering a remarkable introduction to the world of digital assets. Following these straightforward steps, you can initiate your expedition to claim airdrop rewards today. Seize this golden opportunity to unlock valuable tokens, marking the initial steps toward accumulating digital wealth.
Embark on this exciting quest and watch your crypto portfolio thrive with every token acquisition. The treasure hunt is underway dont delay; claim your free tokens now, and let your crypto journey soar to new heights
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Financial Independence through Crypto: Top 3 Coins That Could Transform Your Portfolio in 2024 – CryptoDaily
Posted: at 2:23 am
Financial Independence through Crypto: Top 3 Coins That Could Transform Your Portfolio in 2024 CryptoDaily
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Salary Success: Is $94000 the Magic Number for Financial Freedom? – Study Finds
Posted: at 2:23 am
NEW YORK How much do you need to make in order to really feel like youre in a good spot in life? The average American says financial independence means making upwards of $94,000 per year, and 60 percent feel optimistic they can reach this milestone.
In a recent poll of 2,000 adults, spenders and savers say financial freedom is synonymous with resilience and independence: not needing money from family and friends (47%), reaching a certain net worth (44%), and contributing to a 401(k) (42%). The new study by financial services company Empower, conducted by OnePoll, also reveals that more than two in five define making it as reaching financial independence (44%).
Doing so is important to 67 percent of Americans, though nearly a quarter (24%) say they havent yet achieved it. Definitions of success extend beyond Americans wallets to the workplace by moving up in their career (39%) and having a job they love (37%).
Despite having financial aspirations for the future, a majority of people (72%) admit they currently stress over their finances at least once per month, and nearly one in five (17%) say they worry about money daily.
Over half (57%) of Americans say they still rely on their family and friends for financial support, especially for help paying their rent (62%), internet and streaming services (56%), and their phone bill (54%). Of those who dont feel financially independent, three in 10 (31%) are optimistic they will be in the future, while 54 percent dont think theyll ever be able to pay their bills without help. The majority (92%) of financially independent Americans say they only started to feel that way once they reached the age of 36.
No matter your age, financial independence starts with clarity, says spokesperson Keith Jones, a senior financial professional with Empower, in a statement. Ask yourself what you want and why you want it. Establishing clear financial goals provides both direction and purpose, motivating you to work toward a more secure and satisfying financial future.
The poll finds many parents believe their kids should be able to pay their own bills and expenses by the time they reach age 23. Of those with adult children aged 20 or older, two in five (40%) parents surveyed currently support them financially, more than half (53%) are dipping into their retirement savings to do so, and 49 percent say they live with their children to help manage expenses.
More than half of parents regret not having more money conversations with their children while they were growing up (57%). If they could turn back the clock and do things differently, 60 percent would have made financial literacy a priority.
This random double-opt-in survey of 2,000 general population Americans was commissioned by Empower and fielded by market research company OnePoll between December 11 and December 12, 2023. OnePoll team members are part of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
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Early Retirement Is Just A Big Lie – Seeking Alpha
Posted: at 2:23 am
zimmytws
When I first approached the world of finance, I had a completely different attitude than I do today. I was convinced that anything that was mathematically right coincided with the correct choice to make; therefore, simply doing calculations was enough to achieve any goal.
In particular, right from the start I was passionate about FIRE (Financial Independence, Retire Early). After all, being financially independent as soon as possible is all we aspire to when investing our money. In any case, I have noticed that in some cases the concept of FIRE is taken to extremes, and in this article I would like to discuss the problems that such a lifestyle can bring.
No one doubts that it is wise to save as a young person in order to have a nice nest egg as an adult, but it is not always the right financial choice for us.
FIRE refers to a lifestyle of reducing expenses and increasing investments to quickly achieve financial independence and the ability to retire at a young age. You can find many articles online that explain how to retire in your 40s or even 30s. There are some authors who promise you an early retirement simply by investing in a stock: my invitation is to be wary of those who promise you difficult goals with minimal effort. This is not the reality, otherwise we would all be rich.
FIRE's first problem concerns goal setting since there are no one-size-fits-all standards. What does it mean for us to be financially free? Getting around in a Ferrari at 40 or being able to cope with any unexpected expenses at 50? Much depends on the value we place on money.
The moment the goal is set, our life will revolve around it, so it is of crucial importance to do it judiciously. However, it is not easy for two reasons:
These two aspects generate considerable uncertainty and, more importantly, have a strong psychological impact over the years. When you are young, it is much easier to save and be positive, but the moment a mortgage and a family take over, unexpected expenses are the order of the day, which could jeopardize your constancy. As a result, you will be forced to reduce your investments and scale back your goals, which is not easy to accept.
In short, life is far from predictable, and in time, the goals you set in your 20s and 30s may turn into nothing more than a dream from when you were full of enthusiasm.
As mentioned earlier, the amount of money to aspire to in order to feel financially independent can vary greatly, depending both on the country of residence and the kind of life to be made once retired. For an American a good figure might be $3 million at age 50; for a poorer country $1 million would already be a lot. Be that as it may, in either case reaching this goal would involve a huge sacrifice for a person with an average income (obviously for those who are wealthy the problem does not exist). Specifically, in the case of the $3 million one would need to invest $18,237 each year and achieve an average return of 10%. And I am considering reinvested dividends.
Anticipating this by 10 years would imply an annual investment of $52,378. Basically, one would have to live with parents until the age of 40, have no family, hardly ever go out and have a good job as well. But is it really worth it?
If we were relying solely on the monetary aspect, it would be absolutely advisable to accumulate as much as possible in order to take full advantage of compound interest. Spending money or even receiving dividends (a tax disadvantageous solution) will postpone the time when you will be financially independent. However, people are not machines, and what makes sense mathematically is not always the right thing to do.
When it comes to investing, the most important thing is the psychological aspect in my opinion, since where and how much we decide to invest greatly affects the quality of our lives. Maintaining a balance and a certain serenity is what we should all aspire to, and I don't think it coincides with retiring at 40-45 years of age. You may have your $3 million at that age, but if you have completely sacrificed your best years you will probably have other problems to deal with.
Moreover, I doubt that a person with an average income can really maintain such a low standard of living for decades only to stop working at 40-45 years old. Saving as much as possible and investing for the very long term is sustainable only if the sums involved are minimal compared to the salary. Otherwise, the initial enthusiasm will gradually be replaced by a feeling of discouragement. After all, who guarantees that we will ever see the fruits of our investments? In 20-25 years, anything can happen.
The aspects that can really help you during your journey to financial freedom are only two: increase the money invested or improve the annual return.
Increasing the money invested obviously requires earning more money since saving too much can limit your lifestyle too much. In this case, it is useful to look at ourselves as a kind of investment, since the more knowledge we have, the more chances we will have to climb up the hierarchies work-wise. Spending thousands of dollars on our education instead of investing it in the S&P 500 may prove to be an even more profitable investment in the long run. So, in order to achieve an early retirement, it is also necessary to increase your knowledge: you may benefit both mentally and economically. Earning 20-30% more than the average can make a huge difference in reaching your early retirement.
The second aspect concerns the annual return, a component that can disrupt the final outcome. A small variation can lead to completely different results:
Of course, when we make an investment we hope that it will turn out better than expected and especially that it will beat the market. Anyway, we are not all Warren Buffett and that is often not the case. Investing in individual stocks rather than in a well-diversified ETF can prove to be no small mistake and may disrupt the timing of early retirement. In other words, taking big risks to get rich as soon as possible is a strategy I do not recommend for those who really care about their retirement. Wealth is a process and not an event.
For some people, getting 10% per year may not seem like much (average return of the S&P 500 over the past 30 years) but it is actually enough to create wealth: sometimes more than money, patience is lacking.
Early retirement is the dream that many pursue but few succeed in achieving. In my opinion, the reason why many fail depends mainly on the motivations that drive the individual to invest in the first place. The harsh truth is that financial markets will not make the average investor rich unless you are willing to be patient for decades. However, taking the FIRE concept to extremes can lead to a lifetime of regret, just as seeking high-yield investments can lead to substantial losses that will only make you poorer.
The right approach to operate in the financial markets is to take a long-term view, and to do this we need to look first at our psychological well-being: without it we will not be able to be consistent for decades. Assuming that the performance of the S&P 500 is similar to that of the past 30 years, it only takes a little to achieve a major accomplishment:
Since the average annual salary in the U.S. is $59,428, these seem like pretty affordable figures to me and not so high as to weigh on an individual too heavily. For those who save a little more, there would also be room for individual investments. Of course, even then you risk not getting the amount you hoped for, but at least you will not have sacrificed your whole life. Anyway, almost certainly even in the worst case scenario you will end up with a good nest egg. You won't be driving around in a Ferrari, but you can take a lot of satisfaction out of it.
Overall, I think the topic of early retirement is a dangerous fad because it generates false hopes in the average investor. Assuming there is someone who, thanks to his or her investments, can stop working before 50, he or she will not necessarily achieve the much-coveted happiness. Chasing that goal for the better part of a lifetime may have overshadowed many other aspects far more important than any amount of money. For those starting from scratch and earning average income must see the financial markets as a way to supplement their salary not to replace it and live off of it, otherwise they will most likely be disappointed. Accepting this harsh truth from a young age, I believe, is the only way to make the investment process satisfactory in the long run; the alternative is to tell ourselves a big lie that is not meant to last forever.
This article is aimed primarily at people of a young age; after all, they are the retirees of the future. In any case, I would greatly appreciate comments from someone with more experience. I think young people (including me of course) can learn a lot from those who have already faced this tortuous path.
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4 Strategies to Achieve Financial Independence in 2024 – Business Insider
Posted: January 4, 2024 at 3:30 am
4 Strategies to Achieve Financial Independence in 2024 Business Insider
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3 Legged Stool of Retirement | investing.com – Investing.com Canada
Posted: at 3:30 am
My wife and I have been investing passively through low-cost, diversified index funds to reach financial independence and be able to retire early. In this video, I share my reflections on the blog post by Retirement Manifesto called "3 Legged Stool of Retirement". I also share one of my favorite blogs (Eat Sleep Breathe FI), before I provide a walk through of our our $556,000 stock market portfolio and our holdings.
This content was originally posted on the Moementum Finance YouTube Channel
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What is Coast FIRE? Should you pursue this instead of vanilla financial independence? | Mint – Mint
Posted: December 25, 2023 at 6:33 am
What is Coast FIRE? Should you pursue this instead of vanilla financial independence? | Mint Mint
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Book Recommendations on Money, Investing, and Financial Independence – Business Insider
Posted: at 6:33 am
Book Recommendations on Money, Investing, and Financial Independence Business Insider
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How 12 years of tracking investments has been a life-changer – freefincal on YouTube
Posted: at 6:33 am
I have tracked the amount invested in my goal portfolio for over 12 years. It has been a life and game changer for my family. Whether you track your spending or not, tracking your investment amount is crucial.
Today, I can invest more for retirement than my target investment. That was not the case when I started. In 2011, I noticed I was consistently investing less than the target. For several months in 2013, 14, and 15, I could not invest due to higher expenses and struggled to make up for it. For details of my portfolio holdings and review see:Portfolio Audit 2023: The annual review of my goal-based investments
By target, I refer to a thorough retirement planning calculation output. If you are wondering, Why did he stop investing due to higher expenses? Why did he not use an emergency fund? ask yourself, How will you refill a depleted emergency fund? How will you handle an unexpected recurring expense? There are many situations when the emergency is bigger than the emergency fund.
The number one benefit of tracking investments: You are aware of your future goals, you appreciate how much you need to invest for them, and whether or not you can invest that much, you have a target. Knowing where you stand is the first to appreciate how far you need to travel if you need some inspiration to get started, check the personal financial audits from our community linked at the end of the article.
Number two: I often listen and re-listen to the excellent money management classic The Richest Man in Babylon, and each time I learn something new, I find a new article idea. One of the earliest known mentions of pay yourself first. When we track investments, we get a sense of accomplishment that is, we find some balance between current and future expenses (the reason we invest).
Number three: When you pay yourself first (if you can), tracking expenses becomes unnecessary (IMO) and essentially an academic exercise. Budgeting is essential when money is tight, and you struggle to make ends meet. Once you can regularly find a surplus when paying ourselves first is possible budgeting is unnecessary. We invest first and spend the rest.
Budgeting builds discipline and gives you an insight into personal inflation. Once you appreciate the importance of discipline in spending and the inflation rate, your overall portfolio has to keep pace with after-tax; it becomes superfluous. However, it is a therapeutic regimen for some: What 25 Years of Tracking Expenses Taught Me.
If you need some assistance in this regard:
For someone under 30 reading this, I urge you to do everything possible to get to this position first where you can invest some amount (any amount) regularly. This is the first step to building wealth.
The next step is to increase the amount we can invest by as much as possible every year. Our income should increase, but our expenses should not grow simultaneously! Again, quoting the richest man in Babylon increase thy income!
If you believe your income is low and you do not see it increasing too much in future, then do everything possible to learn new skills or have a side hustle to increase your income.
Children with financially secure parents should be told to qualify, build skillsets as much as possible, and become professionals or entrepreneurs instead of run-of-the-mill salaried guys in their early 20s. There will be a long struggle, and you will not be able to invest anything in your 20s or even up to your mid-30s. Still, you can easily catch up later with essential money management commonsense and higher salaries.
The results of a retirement calculator would always look impossible to achieve (otherwise, there is something wrong with the computation!). See, for example, We lost sleep after using a retirement calculator! This is how we recovered. However, we must have the hope, perhaps even a vision, that we will earn more and invest more in the future.
The trick to succeeding with anything in life is to work consistently without expectations and any sign of an obvious reward for our efforts. Investing systematically is a simple example of this activity. Tracking investments helps you stay on course. It reminds you of the progress you have made or reminds you (painfully) of the distance that you need to cover.
For our family, diligent goal-based investment planning and tracking for 10-plus years have been life changers. It has transformed us from middle-class subsistence to financial freedom:15 years of mutual fund investing: My Journey and lessons learned.
This is the average rate of increase in monthly investments for retirement. I lost the 2016 data due to a hard drive crash (for the last few years, I have worked entirely on OneDrive). I started investing in mutual funds in a small way in June 2008, but it was only in 2010/11 that I started proper goal-based investing.
I recommend maintaining a 10% increase in investments yearly or 70-100% of your monthly expenses. This will get tougher with time, but we must try. Investing 2-3 times monthly expenses would be necessary for early financial independence aspirants.
In my case, it is a sheer providence that I have been able to achieve an investing annualised growth of 18% consistently (rate of increase in investments each year). My investment annualised return, that is, the rate of increase in market value, is about 16% (from June 2008 to Sep 2022) less than my investing CAGR And it fluctuates a lot more! See: My retirement equity MF portfolio return is 2.75% after 12 years! I tracked my investments more often than I have tracked their value. So I see this as a just reward for the effort.
Tracking investments each month for each goal has the same benefits as tracking our exercise regimen with an app or watch. It gives you a small control over the controllable and lowers your fear of the future.
Many youngsters assume paying ourselves first would be depriving ourselves of the pleasures of life. This is not true. The sole purpose of money in our lives is to get spent for our benefit. Investing is a way to ensure we can continue to spend happily in the future. So we need to find some balance between spending today and developing an ability to spend the same way tomorrow. How we find this balance is personal and up to the individual.
This is the template I used to track investments: Download the free monthly financial tracker. Users of the freefincal mutual fund and stock portfolio tracker can upload this sheet onto their existing Google Sheets file.
Check out some personal financial audits from readers.
These published audits have had a compounding effect on readers. If you would like to contribute to the DIY community in this manner, send your audits to freefincal AT Gmail. They could be published anonymously if you so desire.
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Understanding the Path to Financial Independence in Retirement – TickerTV News
Posted: at 6:33 am
More than half of working Americans feel they are falling behind on their retirement savings, according to a recent survey. However, figuring out the amount of money needed to retire is an essential step towards financial security in your golden years.
Calculating Your Financial Freedom Number
The key to achieving financial independence lies in the simple formula recommended the FIRE (financial independence, retire early) movement. This formula suggests that you should have 25 times your annual expenses invested. To determine this more accurately, begin totaling your monthly expenses in five basic budgeting categories:
1. Food costs, which include eating out and groceries. 2. Transportation expenses, such as car payments, insurance, fuel, and parking. 3. Housing costs, including rent or mortgage payments, as well as taxes and insurance. 4. Utilities, encompassing electricity, cell phone bills, and internet. 5. Health expenses, which cover essential items like toiletries and cleaning supplies, as well as medical and wellness needs.
Once you have calculated your monthly expenses, multiply the total 12 to obtain your annual amount. Multiply this figure 25 to determine your personalized FIRE number.
Taking Control of Your Financial Future
It is important to note that the FIRE number assumes a 4% annual withdrawal rate, considering the potential growth of investments through interest or dividends. Hence, you are unlikely to exhaust your retirement savings within your lifetime.
While the idea of needing to become a millionaire for a comfortable retirement may seem daunting, there are practical steps you can take to improve your financial prospects. Begin paying off debts, such as student loans, car loans, and credit card debt. Streamlining your daily expenses adopting a more essentialist lifestyle can also contribute to reducing your FIRE number.
Taking small steps towards investing in your FIRE number can have a significant impact on your quality of life. Although you may not be able to retire early, following this formula could grant you the freedom to pursue your passions or indulge in travel.
By embracing a proactive approach and striving to move closer to your financial goals, you can significantly expedite your journey towards a well-deserved retirement.
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