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Last modified: September 30, 2019

7 Steps to Financia...
 
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7 Steps to Financial Independence
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Step 1: Earning, Spending and Looking Ahead

As with most things, the first step is the hardest. Learning to walk, learning long division, learning piano, Spanish, dating, and personal finance all start with overcoming the fear of taking that first step... The first step post is here: https://bodeswell.io/step-1-earning-spending-and-looking-ahead/ Please let us know what you think below!

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Step 2: Building an Emergency Fund

If there is one thing we can count on, it’s chaos. Things break. Accidents happen. Step Two in BodesWell’s 7 Steps to Financial Independence is to build a money cushion so that when the inevitable happens, you have reserves to fall back on. The full post is here: https://bodeswell.io/step-2-building-an-emergency-fund/ Let us know what you think below!

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Step 3: Employer Matching Contributions

Now it’s time to get some free money! Well, it’s not exactly free… if you are working at a company that makes matching contributions into a retirement plan for employees, you are working for this benefit. Here's the entire post: https://bodeswell.io/step-3-employer-matching-contributions/ Please let us know what you think below.

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Step 4: Paying Down Expensive Debt

Expensive debt (which we define as anything over 5% per year) is like any bad habit… we know it’s not good for us, but it’s really hard to stop. The entire post is here: https://bodeswell.io/step-4-paying-down-expensive-debt/ Let us know how it's going for you below.

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Step 5: Setting Big Goals

If you could project yourself three or five years into the future, what accomplishments would make you most proud? Step 5 is the place where you set out to do those things. It’s also where you look at options like life insurance to protect yourself and your loved ones against disaster. The entire post is here: https://bodeswell.io/step-5-setting-big-goals/ What goals have you got? Any suggestions for others reaching theirs?

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Step 6: Preparing to Retire

At BodesWell, we have a flexible version of retirement. We call it “Financial Independence” – the life situation where working for a salary is a choice, not a requirement. The whole post is here: https://bodeswell.io/step-6-preparing-to-retire/ What's your definition of retirement?

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Step 7: Seize the Day

It’s time to take hold of your life, the opportunities you have, and the path in front of you. You’ve got your plan. You know that you’ve got to save so many dollars for this goal, and so many for that one. BodesWell will be tracking your progress towards those goals, and will let you know how it’s going. The entire post is here: https://bodeswell.io/step-7-seize-the-day/ What are you working towards now? When will work become optional for you?

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7 Steps to Financial Independence

BodesWell's 7 Steps lead to a life where you work because you love it, not because you need the money. Starting at the very beginning, with earning, spending and looking ahead, each step brings you closer to the life you want to live.

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