My Financial Strategy
I built my financial strategy on the foundation that I will be stupid wealthy.
If you do not know for certain that you will be financially wealthy, then I do not recommend reading my financial strategy.
Here’s why:
Neither of my parents are financially independent; both require government assistance and don’t have any savings. One still has student loans at the age of 71. The other has help from grandpa’s trust.
I grew up in lower middle class and I’m very grateful for the opportunities my parent’s provided me with the little money they did have (ballet, swim, shopping, movies). However, while I physically was taken care of, both of their mindsets around money permeated their daily decisions. I watched the lack of income slowly suffocate my parents, and it continues to do so.
So, I know for certain, I will not end up the same way as them. I have 100% confidence that I will have “fuck you money” for the main reason that I have an example in front of me of what I don’t want.
Here is what else I’m certain about: I will need to retire both my parents (who are divorced, by the way).
That being said, I have no other choice than to make my bag.
I don’t need to know how, I just know in my bones that I will do what it takes in order to be rich as fuck.
And when I say “do what it takes” I don’t mean hustle and work my ass off at dumb shit. What I mean is I will invest in becoming the type of person where becoming wealthy is inevitable.
I’ve think about this quote weekly since I first read it: James Clear says ““Every action you take is a vote for the type of person you wish to become” which means everything in life is an investment.
This is what I choose to invest in:
Peace of Mind
Becoming my happiest, smartest, hottest self
Because I want peace of mind:
I need 6-12 months of living expenses in a (high yield) savings account.
I don’t want any debt.
I want my money working for me.
Becuase I want to becoming my happiest self:
I invest in experiences that are enriching (yoga, traveling, music festivals, art classes, weird workshops , etc)
Because I want to become my smartest self:
I consume courses, books, podcasts, videos, seminars that change the way I think
Because I want to become my hottest self:
I pay for Ozempic and an expensive gym membership
So, here’s how I do all of those things:
Where I started in 2018, the year I graduated from undergrad…
Physically: 25k of student loan debt
Mentally: No financial literacy (neither of my parents have any savings)
A month after I graduated from college, my dad took me to a T. Harv. Eker “Millionaire Minds” seminar. (Think ‘Tony Robbins-style’ seminar)
It set the foundation for every financial decision I’ve made since.
I look at my life as “before that seminar'“ and “after that seminar”.
Before the seminar, I was like “I’m gonna be a millionaire but I have no idea how!”
After the seminar, I was like “I’m gonna be a millionaire and I have the faintest idea how!”
I had to develop hard and soft skills. That’s it. Nothing too complicated:
Hard Skill #1: GTFO of debt. I lived with my mom for 2 years, and put the money I would have spent on rent and paid off my student loans. Only once I was debt free, did I move out. Did I sacrifice my relationship with my mom so I could secure a more promising financial future? Shhh…
Soft Skill #1: Learn the mindset of successful bitches. Check out this blog post for resources.
Now that I’m debt free, this is what I follow:
Every month, and I mean EVERY MONTH, I figure out my net income (total gross income - expenses).
If my gross income is 6k per month, and my expenses are 3k, then my net income is 3k. I take that 3k and throw it into these buckets:
First, I fill up 6 months worth of savings in a High Yield Savings Account (HYSA)
If my expenses are 3k per month, then I need 18k in savings (3k x 6mo = 18k)
I put that 18k in SoFi and get 4.6% back (The $18k I keep in my SoFi account makes ~$69 per month or $828 per year). Slay.
Second, I contribute to my Roth IRA
I have an account with Fidelity and max it out… $7k per year ($583/month)
I put 50% in $VTI ( S&P500 index fund).
By investing in the S&P500, you are essentially voting towards a world where the current economy continues to grow. My Roman Empire is that I believe there will be another roman empire (aka this empire will fall). However, that seems a bit nihilist of me, so instead, I decide to just put the minimum towards the institution that currently exists.
The other 40% I put in The Big 7 (Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta and Tesla)
The other 10% I put in fun stocks like Reddit.
Third, I contribute to 401k
My company only matches 1%, which is insulting. They literally put in $80 a month. I put in 5%, so I put in ___ monthly.
Fourth, I play with crypto
80% of my portfolio is in the top 3: Bitcoin, Ethereum, and Solano
10% of my portfolio is in interesting shit: $HEDERA,
10% of my portfolio is in dumb shit: $DOGE, $CACAO, and other meme coins I find
Fifth, I spend money on courses to continue my education in something I’m interested in.
Just about to finish up Google Certificate’s Project Management Course. Notes here.
Just paid $250 for an 1-hour/day 28-day online meditation course. Next up, I want to take Joe Dispenza’s meditation course
I’m going to a yoga retreat in Costa Rica in July. Yes, investing in my mental well being is an investment in becoming a millionaire.
That’s it! Easy peasy!
Text me if you want to set up a one-on-one to chat through any questions you have about your own strategy. My favorite topic is MONEY and I love helping my friends with this shit. I don’t want to be rich on an island BY MYSELF!
PS: Liability Shit: Please note that while I strive to provide valuable insights and tips on managing finances, I am not a licensed financial advisor or a certified financial planner. The information presented in this blog is for educational and informational purposes only and should not be considered as financial advice. I encourage readers to consult with a qualified professional for advice on personal finance issues and decisions. The strategies and suggestions shared on this blog are based on my personal experiences and research; they may not be suitable for everyone. By using the information provided here, you agree to do so at your own risk and acknowledge that I cannot be held liable for any actions you take based on the content of this blog.
