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💵 Build wealth one step at a time 📈 Following us costs you $0.00 ⏰ Our tips are simple & easy to follow
I’d rather be stacking assets & build generational wealth than show off a fake lifestyle. Want to learn how you can do it too (👀 at my BYE-o) Love this post from my friend at @fluent.in.finance #smallstepfinance #millionairemindset #financialfreedom #financialfreedomfriday #financialliteracy #financialindependenceretireearly #financialindependence
Would you try this? Follow @smallstepfinance for more money tips! Instead of paying $500 / month in rent at college, an 18 year old paid $300 / month to her parents to live at home. She stayed there until she was 24 years old. When she moved out, her parents gave her $25,000 - the rent she paid over the 6 years. She could put 5% down on a $500,000 home! Now she has a down payment on her first home. 🏡
Can you relate? Let me know below 👇 Here’s 12 income streams you could build… 1. Dividend Investing: Earn regular dividends from stocks. 2. Rental Properties: Generate income from tenants’ rent payments. 3. Real Estate Crowdfunding: Invest in real estate. 4. Peer-to-Peer Lending: Earn interest by lending money to individuals or businesses. 5. High-Yield Savings Accounts: Earn interest on savings deposits. 6. Bond Investments: Receive periodic interest payments from bonds. 7. Royalties: Earn royalties from intellectual property such as books, music, or patents. 8. Affiliate Marketing: Earn commissions by promoting products or services. 9. Digital Products: Sell e-books, courses, or software online. 10. YouTube Channel: Monetize videos through ads, sponsorships, and affiliate marketing. 11. Blogging: Generate income through ads, sponsored content, and affiliate marketing. 12. Podcasting: Monetize podcasts through ads, sponsorships, and affiliate marketing. Follow @smallstepfinance to learn more about how to build wealth one small step at a time. Source: @benkellyone
Scroll down to see the 5 year performance 👇 Investing doesn’t have to be complicated… Let me help make it easy for you! You don’t have be rich to get started either! You can start even if it’s $25 / month! Some of these investments have grown over 135% in just 5 years! 📈 💰 VTI (US Stock market) ➡️ 66% 💰 VOO (S&P 500) ➡️ 72% 💰 VB (small cap stocks) ➡️ 35% 💰 VUG (growth stocks) ➡️ 104% 💰 VNQ (real estate fund) ➡️ -8% 💰 VGT (tech stocks) ➡️ 137% 💰 VT (total world fund) ➡️ 40% 💰 VYM (high dividend yields) ➡️ 31% 💰 VWO (emerging markets) ➡️ -6% Follow @smallstepfinance for more tips on building long-term wealth! 📈 #investing101 #indexfunds #vanguard #smallstepfinance #financialindependence #financialindependenceretireearly
The average monthly car payment for new cars is $726. The average monthly car payment for used cars is $533. The next time you buy a car, consider these 4 methods to help you buy a vehicle in budget… A good rule to follow when buying a car is the “20/4/10” rule: 20% down payment: Aim to make a down payment of at least 20% of the car’s purchase price to reduce the amount you need to finance and avoid being underwater on your loan. 4-year loan term (maximum): Try to finance the car over a maximum period of four years (48 months). A shorter loan term can help you save on interest and ensure you’re not paying for a depreciating asset for too long. 10% of monthly income for total car expenses: Ensure that your total monthly car expenses (including loan payments, insurance, maintenance, and fuel) do not exceed 10% of your gross monthly income. This helps to keep your overall transportation costs within a manageable budget.Following this rule can help you make a responsible and financially sound decision when purchasing a car, avoiding excessive debt and ensuring that you can afford the ongoing expenses associated with vehicle ownership. There are several budgeting methods people use when buying cars, including: 1. Fixed Percentage Method: Allocate a certain percentage of your income towards car expenses, such as monthly payments, insurance, and maintenance. 2. Zero-Based Budgeting: Evaluate your income and expenses, then assign every dollar a purpose, including saving for a car purchase. 3. Sinking Fund: Set aside a certain amount of money each month specifically for a car purchase, building up a fund over time to buy a car outright or make a significant down payment. 4. Envelope System: Allocate cash into envelopes for specific expenses, including one for a car fund, and only use the money in each envelope for its designated purpose.Priority-Based Budgeting: Identify your financial priorities, such as buying a car, and allocate funds accordingly, making adjustments to other areas if necessary. Each method has its own benefits and drawbacks, so it’s essential to choose one that aligns with your financial goals and lifestyle. Follow @smallstepfinance
Are you embarking on your journey through higher education and seeking financial assistance? Student loans often play a pivotal role in funding academic pursuits, yet understanding their intricacies can seem like navigating a complex maze. Welcome to our comprehensive guide, “Navigating Student Loans 101: Understanding the Basics and Loan Mechanisms.” In this article, we delve into the fundamental aspects of student loans, empowering you with essential knowledge to make informed decisions about financing your education....
Could you live on $100,000 / year in retirement⁉️ Americans think $1.3 million is enough to retire “comfortably” today. $2.5 million would allow you to comfortably retire on $100,000 a year assuming the 4% rule. #personalfinance #retirement #investing101 #financialindependence #financialfreedom #financialliteracy
Thoughts? I went to a private high school growing up where some people received BMWs for their sweet 16 birthday or their family owned private jets. Then I went to a public 4 year college where some of the wealthiest families were actually farmers. Over the years I’ve had the opportunity to network with Congress members, elected officials, countless millionaires, billionaires & other ‘self proclaimed elites’. Some are down to earth & others are obnoxious. The best advice I can give is that you have to learn the lingo if you ever plan to hold a conversation. They do speak differently (for the most part) and if you want to rub elbows with them, you must know how they think & speak. So what do you think? Follow @smallstepfinance
The S&P 500 has hit a new all time high‼️📈 What questions do you have about index fund investing👇 Here’s why I LOVE the S&P 500… 1. Broad Market Representation: The S&P 500 includes 500 of the largest publicly traded U.S. companies, providing a comprehensive snapshot of the market. 2. Diversification: Investing in the S&P 500 offers exposure to various sectors, reducing the impact of poor-performing individual stocks. 3. Historical Performance: Over the long term, the S&P 500 has shown consistent growth, making it a reliable choice for investors seeking capital appreciation. 4. Dividend Payments: Many S&P 500 companies distribute dividends, providing a potential income stream in addition to potential stock price appreciation. 5. Liquidity: The S&P 500’s large market capitalization ensures high liquidity, allowing for easy buying and selling of its components. 6. Low Transaction Costs: Investing in the S&P 500 typically incurs lower transaction costs compared to buying individual stocks. 7. Passive Investment Option (e.g., through index funds): Passive investors can easily gain exposure to the S&P 500 through low-cost index funds, simplifying their investment approach. 8. Transparency: The index composition is publicly available, enhancing transparency and allowing investors to make informed decisions. 9. Institutional Support: Many institutional investors, such as pension funds and mutual funds, track or benchmark their performance against the S&P 500, adding to its credibility. 10. Accessibility for Individual Investors: The S&P 500 provides individual investors with an accessible entry point to the stock market, allowing them to participate in the success of major U.S. companies. What questions do YOU have about index fund investing⁉️👇 Follow @smallstepfinance Follow @smallstepfinance Follow @smallstepfinance #indexfunds #smallstepfinance #indexfundandchill #indexfundinvesting #indexfundsforbeginners