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Investing for the Newbie
I have decided as I near the big 4-0 that I really need to get a better handle on cash flow and long-term investing
Every day I feel that push-pull mentality of acute-in-the-moment time management and long-term planning that changes every hour.
I decided I need to do a better job of tracking my activities and share all of my learnings with others that are of the same mind.
A few key strategies I have employed so far:
- Selling things we don’t use, need or want to earn money for other investments
- Budget revamp – we eliminated everything we really didn’t need (i.e. dog walker, weekly tumble gym reduced to bi-weekly tumble gym, eating out reduced dramatically for at-home cooking, etc.)
- Stock Market Investing & Budget Management research – I have spent the last 2.5 months reading books, listening to podcasts and reading articles that have completely revolutionized my thinking:
- Books (provided in the order that is appropriate to read them:
- Websites/Facebook Groups
- Mad Fientist
- Choose FI
- Bigger Pockets
- Afford Anything
- Real Estate Investing-Specifically (most of the above includes real estate information):
I have so much to learn but my goal (putting it in writing because that makes it real) is by next spring to have a real estate investment deal close. Still deciding if this will be a renovation project or not. The plan is to have a few properties that will bring in cash flow as part of an overarching portfolio to complement my index fund portfolio.
I will provide more info in follow-up posts!