The Wealth Waterfall: What schools should have taught us about accumulating wealth
Product Description
Save money, start a side hustle, trade stocks, buy ETFs, invest in crypto!There is so much personal finance advice out there, but which one should I follow? Which is most important for me right now?This is a personal finance book for teens, young adults, and adults that aims to answer these questions and looks to guide the readers in building a self-reinforcing financial system that is able to use its own momentum to grow wealth all on its own.-----One of the main challenges I faced when I began my financial journey was that there was so much advice, all of it seemed valuable, but I had no idea where to start.The Wealth Waterfall is a system I developed based on my own experiences to help sort the advices into stages. It organizes the financial advice into a step-by-step guide with an actionable plan that anyone can follow to build their own system and create wealth through assets.Don’t worry, this book is not about selling you some cash flow generating asset or additional courses. Everything you need can be found within this book or free resources available online. This book is also written with a view from outside USA, without touching on stuff like ROTH IRA, 401ks, etc.This guide will share 3 Simple Stages of the Wealth Waterfall and how to build each stage in detail and by the end of this book you will have a much better knowledge how to build your own wealth engine and let your assets work harder for you.Stage 1: Setting up a strong financial foundationSecuring your first stream of incomeMaximizing that income streamIncreasing your free cash flow/savingsZero-based budgetingWonders and dangers of credit cardsMy personal experience in this stageStage 2: Scaling up your incomeSecuring your second stream of incomeBuilding and growing your side hustleAllocating your spare cashTracking your networth by asset types, money liquidity ratio, and risk levelSimple vs. compound interestDeposit laddering: a strategy to maximize your earningsMy personal experience at this stageStage 3: Letting your money work harder for youTypes of passive incomeConverting your side hustles into passive incomeBasics of investingInvesting in stocksAre bonds a safer investmentCommodity tradingUnderstanding forex tradingInvesting in precious metalsReal estate investingNiche alternative investments such as cryptocurrencies, NFTs, wine, fine art, antiques, collectibles, watchesHow each of the investment vehicle above can fit into your wealth creation engineThe 3 Ms of investingRisk to Reward ratioMy personal experience at this stage Read more
