Think Like a Millionaire
Updated: Jul 21, 2021
Millionaire Vagabonds have to think like millionaires when managing their money and plan like vagabonds to get the most bang for the buck. Here, we will teach you how to think like a millionaire when it comes to things like debt, income, savings, investing, and charitable giving.
There is a ton of good (free) financial advice out there, and also a lot of bad. What I have to offer is pretty straightforward advice, but it works. At the age of 36, I reached an individual net worth of $1,000,000 and was well on my way to financial independence. For anyone starting out, or for aspiring Millionaire Vagabonds, this guidance will assist you along your journey.
This post serves as an outline that addresses the building blocks of financial independence. Follow along with the Think Like A Millionaire series for more!
Think Like A Millionaire Series
- Part I: Regarding Debt (Coming Soon!)
- Part II: Regarding Saving & Investing
- Part III: Regarding Income
- Part IV: Regarding Charity
- Part V: Regarding Financial Independence
Part I: Regarding Debt
- Pay Off Your Credit Cards
- Eliminate Bad Debt
- Pay Off High Interest Debt - Offset Debt with Long-Term Investment - Leverage Low Interest Debt
Part II: Regarding Savings and Investing
- Save for Emergencies
- Invest for Employer Match
- Save for Major Expenses
- Invest in Roth & Other Tax-Advantaged Accounts
- Invest in Taxable Accounts
Part III: Regarding Income
- Invest in Your Earning Potential
- Don’t Neglect Scholarships and Grants
- Build Multiple Income Streams
- Enhance Passive Income Streams
- Plan for Investment Distributions
Part IV: Regarding Charity
- Know Your Objectives
- Donating Things Other than Money
- Research Your Charities
- Maximize the Value of Your Gift
- Avoid Fundraising Entities with High Overhead Costs
Part V: Regarding Financial Independence
- Focus on Your Net Worth
- Determine Your FI Number
- Achieving Financial Independence
- Navigating Semi-Retirement
- The Vagabond Life