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What's Your Burn Rate?

Anything related to matters of the mind

JustAskBenWhy

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Step 1: Wealth is not the same thing as freedom. Equity is fine and dandy, but unless it translates into cash flow - whatever...

Step 2: Cash flow is fine and dandy, but unless it's stable - whatever...(this is where a lot of new real estate investors get in trouble)

To me, financial freedom looks like this:

  1. Diversified revenue streams non of which are of W2 variety
  2. Diversified among sectors and asset classes, not just assets
  3. Burn rate (all expenses including tax burden) no more than _____% of gross income
Fill in the ____. Where are you, and where do you want to be? Do you have all 3 items on the list covered, and what are you doing about it?
 
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