A simple way to accelerate your net worth through the roof
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Every time your income increases, put at least 50% of that raise straight to investing and saving.
Not to a bigger apartment.
Not to a bigger home.
Not to nicer clothes.
Not to more eating out.
Not to more vacations.
Not to more stuff on Amazon.
Not to more partying or going out.
Not more tech gadgets.
Not to more memberships.
Not to more streaming services.
Not to a nicer car.
Not to better brands.
Not to more costly experiences.
Invest at least 50% into more assets.
Screw the liabilities.
$1,000 Additional Income Per Month
If you get a $1,000/month raise and you keep only $500 for lifestyle while investing the other $500, that’s $6,000 a year into assets without feeling like you cut anything.
Imagine the numbers on larger income increases.
Not including interest accrued on your investments.
Keep doing this every time you receive an income increase, and you will save a sh*t load of money if you stick to the process.
Ways To Get More Aggressive
If you want to go more nuclear, save 75–90% of each income increase and your wealth will accelerate even faster.
Raises and Income Increases Are Traps
If you want to know where someone will end up in five years financially, ask what they do with their money when they get a raise or bring in additional income.
Most people increase their cost of living because they can.
They never consider that raises and income increases are opportunities to propel their wealth upwards.
Life will provide many opportunities for you to increase your net worth if you truly want it to; it may not always feel convenient or easy, though.
Sometimes, increasing your net worth will require tremendous discipline, but if you’re serious about building wealth, this is one of the easiest ways to make that happen.
Don’t fall into the trap of spending your income increases.
Commit to Consistently Increasing Your Income
The first thing that must happen before you put away an income increase is get the income increase in the first place.
If you don’t know how to make money, ask ChatGPT for 1000 ways to legally earn money. Something will come up that you can act on immediately.
Not knowing how to make money today is no longer a viable excuse.
There are countless ways to elevate your income.
Stop Complaining. Start Investing.
Once you start earning additional money, put it away. Don’t use it. Don’t spend it. Put it away and let it start viciously working around the clock for you by investing it.
Last Words
Most people use raises to upgrade their lifestyle and then complain they’re still stuck.
Stop letting lifestyle creep eat your progress.
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Start simple investing with Acorns
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.