Tomorrow is another birthday for me – gratitude for the grace to have seen another year through.
On my birthday last year, I actively commenced my journey to financial freedom – bought my first share (stock) – a piece of Tesla (at $432) as a birthday present for me! I remember being so excited, but also thinking, ‘Wow, that is so expensive’ but I was determined to make a start. I can’t remember why Tesla was the one I started with, but I am glad that’s where I started. Today, I have a few more Tesla shares and have shares of a lot of other companies, some doing well and some not so well, but all balancing each other out.
I however came to the realisation along the line, that it was necessary to research the companies before investing in them and that my schedule didn’t lend itself to spending adequate time doing the required research. Then I came across Index Funds! Remember the post where I said I didn’t know what they are? Well, I took the time to learn what they are and (wrote a post about it early this year) now invest mostly in ETFs (exchange traded funds)!
In the time between my first stock investment and ‘graduating’ to ETFs, I have also;
- invested in a very small proportion of crypto – remember the post where I brought you on the journey with me to learn about crypto? Well, I decided to continue putting a small portion of funds into crypto and it paid off! It paid for the emergency trip I had to make (see below), so now I might just continue to maintain it for annual holidays, we’ll see.
- completed a couple of peer-to-peer (fixed term) investments
- bought a few metals, more for storage of wealth than investment but kept it minimal for security and storage reasons.
- in conjunction with a business partner, commenced my rent-to-rent journey
- and my bid to build a property portfolio continues
I have also now completed my certification exams and obtained my practice license! A goal set for 2021, based on a dream I have had for more than a decade…! Mission accomplished; but it’s just the beginning. Next step is to take my skillset to the public and be of service… I am looking forward to the year ahead of serving individuals, sole traders, and limited companies.
Amidst it all, as always, life made its presence known! Had to deal with two family emergencies, thankfully things are now okay.
Lessons learnt:
- The best time to start is NOW (despite the dream living on paper for so long, it was never too late to ACT and achieve the dream of having my own practice).
- We really do UNDERESTIMATE what we can achieve in a short term (evidenced by what I have been up to in the last year)
- Most PASSIVE income (in my opinion) is from fixed term investments (note that I didn’t say least risky! Nothing ventured nothing gained though, right?) – your money really does work for you while you sleep, with no effort required from you.
- Life can change in the twinkle of an eye and EMERGENCY FUNDS do come in handy at those times the unexpected does happen (they will happen for each and everyone, from time to time during one’s lifetime and it does allow one the luxury of dealing with the situation and whatever emotions come with it, without having to have the added pressure of worrying about finances).
I embarked on this new journey to financial freedom and; sharing my journey and financial literacy tips just over a year ago and YES it would be great to meet my objective of financial freedom in my target time (which I know I will achieve with CONSISTENCY & sticking to the plan), but who knows if I will be granted the GRACE to live that long or be healthy enough (even though I am doing as much as I can to ensure I am) to keep going at it!
Yet, the journey would have been worth it irrespective of what life brings my way because this 50+ mama
has had a new lease of life since starting on this journey!
Guess what, it hasn’t all been about the MONEY and financial freedom, it’s the new learnings, the networks, the realisations, the realised dreams, the insight into others’ perspectives, the sharing, overcoming fears and a lot more. I am GRATEFUL for the opportunity to embark on the journey and am loving every moment of it.
I am looking forward to the years ahead of ticking off some other dreams that have lived on paper for so long and sharing a lot more value.
HAPPY BIRTHDAY TO ME (for tomorrow).
Join me in the journey of taking ACTION! It is never too late or too early, rather the right time is always NOW. So, get going with it and don’t let your dreams live and die on paper (or in your head).
📝 Originally shared under my first blog, bitalks; part of the journey that shaped Life’s Riches.