DREAMS, DREAMS, DREAMS

Have I told you that I've been in the Insurance and Financial services industry for the past 26 years? However, I'm first to admit that financially my situation is yet to be desired. If I'm going to rewind my life and go back to when I first started working out of college, if somebody told me about this equation, I would be way better financially today. In fact, I could have been retired at 40 and just pursuing my passions such as computer engineering (yes, that was first choice not Psychology), electronics (yes I can fix your appliances and read circuit boards), music (yes, I'm a closet DJ), and anything about technology. I could have been the next Bill Gates or Steve Jobs. I could have launched my own company, MANGOES (not the apparel brand). So what is it? Tada!

E=mc2! Ooops, wrong equation (thats from my uncle Alby, it's for building a nuclear bomb!)

EQUATION

So here it is!

INCOME (100)- SAVINGS (20) = EXPENSES (80)

Yes, Virginia, that's the equation. You millenials reading this take note of this and make it your mantra. So what does this mean? It means, for every 100 pesos/dollars/yen/etc that you earn, take 20 off right away as savings, the 80 that was left spend to your hearts contents (it's harder than you think it is, that means budgeting. Nobody told me about this when I started working. So now I'm telling you! This is the best way to achieve financial success. And be happy for the rest of your financial life! By the way the 20 for savings you keep it in a place almost inaccessible to you. Place it in a vault with 25 alphanumeric code, lock it in a time deposit, buy stocks or bitcoin(?), anything which will make it hard to liquidate. With discipline, you will be a multi-millionaire by 40. Guaranteed!

Looking back at how foolishly spent my income through the years, I only have regrets. I had it backwards. Income (20) - Expenses (80) = Savings (-60)! Huhuhu!

REWIND

If I'm going to rewind my life, before I get married, I would save up for my own house and car. Buy a 50 Million insurance coverage. Start a business. Save up for educational expenses of my future children. Save up for medical expense fund. Save up for investment. Save up for retirement. In that way, when I do get married, I'm already settled financially. Saves me the hassle of arguments over money. I could have had a blissful, stress-free family life. And if it still doesn't work out, I'm still a millionaire! I'll go buy myself a trophy wife! (Hope my wife doesn't read this!)

FINANCIAL FREEDOM

Seriously, I could be in a much better place right now financially If I just got this advice. But that's life. You make lemonades out of lemons. So to young people starting out in life, remember this equation. Put it your bedroom, bathroom, cupboard, everywhere to remind you of this. Set your financial plan early. Or better yet talk to a Financial Planner to assist you. Do this for a happy, blissful, stress-free, and fulfilling LIFE! Strive for FINANCIAL FREEDOM! The freedom to live your life the way you want it by getting money out of the way!

More financial planning advice later. Happy Steeming everyone!