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- 3 steps to save $1M
Hey there! Welcome to the Independent Money newsletter 👋 We’ll be exploring the latest financial news and discussing how it affects entrepreneurs like you. Plus, we'll share some awesome wealth creation insights from successful entrepreneurs.
Let’s dive in! 🏊‍♂️
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In this week’s Independent Money Newsletter, we get into:
Grant Sabatier’s 3 Steps to Saving $1M
What’s Happening at Carry — we have a bunch of events coming up this month, keep reading until the end so you don’t miss out.
Steps to Saving $1M
We sat down with Grant Sabatier, author of “Financial Freedom: A Proven Path to All the Money You Will Ever Need”. He set a goal for himself on the spot: Earn $1 million and retire as early as possible. He went into his experience going from broke to millionaire in just five years.
Here are the 3 key points we took away from chatting with him:
Front-load your investments in your 20sÂ
In his mid-20s, Grant allocated more than 80% of his income into investments, aiming to maximize the power of compound interest by front-loading his investments. Starting to invest early enables your money to grow most effectively over time.
Negotiate
Negotiate for better pay at your regular job. Many employees don’t ask for raises, even though they’re often not paid according to the value they bring. Weight the sacrifices you might have to make as you strive for financial independence.
How To Retire Early
Mathematically, you need less money now to retire early in your 30s compared to later in your 60s, thanks to the impact of compound interest and investing early. Adapt an investor’s mindset, and evaluate both money and time based on potential returns. This perspective goes beyond just investing and includes personal spending and career choices too.
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Are you an entrepreneur, investor, or just want to level up your money game?
We just posted our full length interview with Grant Sabatier which offers practical advice and strategies for thriving in uncertain times, developing a personalized financial plan, and identifying the actions needed to achieve financial freedom.
Watch the full thing here:
What’s Happening at Carry?
Here’s what you can expect in the coming weeks
See the full list of events here. ⏰
The Business of One SummitGet a behind-the-scenes look and blueprint at how some of the most successful individual businesses have been started, operated, and scaled.
VIRTUAL
LIVE EVENTS DAILY
FREE TO REGISTER
QUICKSTART: Overview of Carry platform + DemoJoin us as we dive into all the ways Carry can simplify your financial journey and streamline tax processes.
Here’s what we’ll cover:
- A step-by-step guide on setting up your Carry account, with insights into the diverse account options available
- Unlocking the full potential of your account through features such as our financial advisor, robo-advisor, and seamless auto-contribution setup
- How to do complex tax-saving strategies (like a Mega Backdoor Roth) in clicks
- And much more!
How to Pay Less in Taxes in 2024 (For Business Owners)Business owners have many tax write offs and deferral opportunities that aren't available with just a W-2 income. This workshop outlines a step-by-step plan to reduce your tax bill for this year, and your key action items.
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If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:
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