My Net Worth surpassed my Lifetime Earnings and I achieved my goal of becoming Financially Independent.
Financial Independence = When you do not have to work to earn for a living, you work cause you like to on whatever that makes you happy.
It's the weekend!
Grab a cup of coffee, in this thread I will explain
1. How I achieved financial independence before my 28th Birthday?
2. How a janitor become a millionaire?
3. How even you can live a financially healthy life by following a few concepts?
Lets dive right in.
My Net Worth surpassed my Lifetime Earnings and I achieved my goal of becoming Financially Independent.
Financial Independence = When you do not have to work to earn for a living, you work cause you like to on whatever that makes you happy.
Somehow the world expects us to just figure it out as we transition to our adult lives.
I grew up in a small town in India and did see plenty of financial hardship growing up.
Today, when I look back at those times, I feel glad that I went through that, cause it taught me the importance of Money at a very young age.
It started as a curiosity - what made rich people rich?
Did they have some common personality traits among them?
I wanted to learn so that I could copy and follow their path.
At the same time there are cases where janitors have become multimillionaires through practicing a few principles of Personal Finance.
It almost seem illogical and incomplete.
So I investigated further and came across the story of Ronald James Read - that changed my life.
Nothing about his death was extra ordinary that would grab headlines.
He was 92 and very few people in the world knew he existed until he died.
What happened upon his death though was the extra ordinary part.
News headlines reported that it was cause he invested in blue chip stocks.
But that was only half the story.
(highly recommended)
He is probably the greatest boxers of his generation and maybe the best that has ever arrived after Mohamed Ali.
But, they have only one thing separating them.
Mr. Read knew about Personal Finance, while Mr. Tyson didn't.
And it is this simple skill that can change the course of your life - from ever living in financial anxiety to living a financially healthy one.
Imagine if you had to play a sport for a living every day without knowing the rules of the game - You will never be able to win the game until you figure out the rules.
that's why I have spent the last two months building a FREE course that will teach you all about it.
https://t.co/f8AE9aYqGF
Skill Share is a YouTube like platform where people around the world can build courses on various skills and teach those skills to anyone around the world.
It has 30,000+ courses and the above link will grant you free access to all of them for 30 days.
Everything I have learnt over the last decade is covered in the course in the form of bite sized classes.
Without knowing where you spend and how you spend you cannot begin to improve what you do not know.
The class teaches you ways in which you can automate this tracking to remove all the friction from the process.
Budgeting keeps you under control and inculcates discipline in the entire process.
The class teaches you how to make your own budget - the right way (without stress).
Everything to do with Savings and how to achieve a high savings rate is covered in this chapter.
Knowing your Net Worth is important - It helps for you to understand where and how you're progressing in life.
Chapter Four of the class will teach you all about it.
It will take me days to list down the names of friends who do not know what an Emergency Fund is.
Chapter Five of the class teaches you about it and how to build one for yourself.
The most misunderstood of all financial products.
Most view insurance as an investment product and are unaware of the criteria to use to select a health and life insurance policy for themselves.
Chapter Six of the class will bust these myths and help you learn .
Let me ask you - Do you know your credit score?
Most will reply no!
Credit Scores are one of the most important parts of finance and yet most people only get introduced to them in their 30s when they apply for a home loan.
Chapter Seven will take care of that.
Very easy to fall into financial pitfalls and destroy your financial well being. There will be no warnings when it happens.
Chapter Eight teaches you on how to not fall into those and how to get out if you ever find yourself in one.
Long term compounding is truly magical and this chapter introduces to you to it with examples to showcase how powerful compounding can be.
It will also teach you some metrics of compounding like the Rule of 72.
Chapter Ten will teach you all about Risk vs Return, Goal Based Investing and How to invest the right way.
This is not one of them.
But, I would argue that is the most important thread of them all.
I hope you will give the course a try and will help me in my mission towards creating awareness on personal finance to all.
Please retweet the first tweet in this thread so that it reaches more people.
More from Tar ⚡
Its the weekend!
Grab a cup of coffee, today I will tell you about all the tools and services I use in my investing journey
Some are free, some are paid but all of them are guaranteed to deliver value
Lets dive right in!
Service # 1
Name: @Regulation30
Type: Paid
Regulation30 is my go to source to hunt for exchange filings that are worth studying further
This is also the source where I get lot of special situation ideas that aren't that widely known
Every day thousands of filings are made over the exchange, among them only a handful are worth studying
Regulation 30 filters out the noise and sends me a daily email of every exchange filing that is worth reading
Here is a snapshot of the email they sent me yesterday
Apart from the newsletter, there is a Slack community where founders of Regulation30 routinely share great insights into less known companies
Service # 2
Name: CapTwist
Type: Free
Wouldn't it be cool if you could search across all exchange filings of all companies via keywords or phrases and join them together as a theme?
Well, CapTwist does just that!
https://t.co/9mwFRPZkws
Grab a cup of coffee, today I will tell you about all the tools and services I use in my investing journey
Some are free, some are paid but all of them are guaranteed to deliver value
Lets dive right in!
Service # 1
Name: @Regulation30
Type: Paid
Regulation30 is my go to source to hunt for exchange filings that are worth studying further
This is also the source where I get lot of special situation ideas that aren't that widely known
Every day thousands of filings are made over the exchange, among them only a handful are worth studying
Regulation 30 filters out the noise and sends me a daily email of every exchange filing that is worth reading
Here is a snapshot of the email they sent me yesterday
Apart from the newsletter, there is a Slack community where founders of Regulation30 routinely share great insights into less known companies
Service # 2
Name: CapTwist
Type: Free
Wouldn't it be cool if you could search across all exchange filings of all companies via keywords or phrases and join them together as a theme?
Well, CapTwist does just that!
https://t.co/9mwFRPZkws
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I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The famous \u201cLucy\u201d, an early ancestor of modern humans (Australopithecus) that lived 3.2 million years ago, and was discovered in 1974 in Ethiopia, displayed in the national museum in Addis Ababa \U0001f1ea\U0001f1f9 pic.twitter.com/N3oWqk1SW2
— Patrick Chovanec (@prchovanec) November 9, 2018
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
Fake chats claiming to be from the Irish African community are being disseminated by the far right in order to suggest that violence is imminent from #BLM supporters. This is straight out of the QAnon and Proud Boys playbook. Spread the word. Protest safely. #georgenkencho
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Be aware, the images the #farright are sharing in the hopes of starting a race war, are not of the SPAR employee that was punched. They\u2019re older photos of a Everton fan. Be aware of the information you\u2019re sharing and that it may be false. Always #factcheck #GeorgeNkencho pic.twitter.com/4c9w4CMk5h
— antifa.drone (@antifa_drone) December 31, 2020
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
There is a concerted effort in far-right Telegram groups to try and incite violence on street by targetting people for racist online abuse following the killing of George Nkencho
— Mark Malone (@soundmigration) January 1, 2021
This follows on and is part of a misinformation campaign to polarise communities at this time.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.