I hope you had a great holiday weekend. I was thinking that 4th of July could be my favorite holiday. There’s cookouts, fireworks, great music and usually great weather.
It’s easy to visualize those things, but what does financial independence mean to you?
Is it not having to work? Or doing something you want to do instead of something you have to do?
What would that look like? Feel like?
And how much money would it take? One million? Ten million? 100 million?
A couple of years ago, Lee Eisenberg published his book titled “The Number” which discusses what amount of money you need for the rest of your life to feel independent. It is a great and insightful book.
Do you know what your number is?
And aside from working at your job, what are you doing to get to that number?
What do you think would make it easier to get to that number?
Answer to the last trivia question: C - 720. It wasn’t that long ago when a credit score of 600 could still get you a good rate. Now, with the economic downturn and credit crunch, that obviously needs to be much higher.
This week’s trivia question: Under the CARD act that was passed last year, under what conditions would the credit card issuer be allowed to raise the interest rate on your card? Is it?
A - You have a variable interest rate tied to an index and the index rises
B - You opened the card with a teaser rate and it expires (which would be stated in your original agreement)
C - You're in a workout agreement and you haven't made your payments as agreed
D - You're more than 60 days late with a payment.
E – All of the above
F – None of the above
