Small Step Finance

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

Will you be buying a home in the next few years⁉️ Think of it as an investment and not an expense. 5, 10, 15 years down the line and you could have a decent return on your investment, while providing a roof over your head. What do you think? Follow @smallstepfinance

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

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Posts from Small Step Finance for 03/11/2024 -

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....

Truth 🙏

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

A Georgia-based millennial is earning over $250,000 a year secretly working two remote jobs. He said his childhood made him want financial security and that overemployment provides him job security. Would you ever work 2 full time jobs at once?

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

Save $100,000s by managing your own portfolio. Investing in index funds can be simple & easy - I’ll teach you how!

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

Thoughts? Follow @smallstepfinance Credit: @thejustinwelsh

Can I GET AN AMEN 👏👏👏 You are in control of your financial future. Your decisions 5 years ago put you in the situation you’re in today. Your decisions today will determine where you’re at in 5 years. You’re in control to make smart money moves. So let’s go make you into a millionaire. Follow @smallstepfinance Follow @smallstepfinance Follow @smallstepfinance

What would YOU add 🤔👇 I stumbled on a viral post about how people plan to save & invest money in 2024. I thought what better way to help you all in 2024 then to have this community share their tips & tricks too! Here’s a list of money saving hacks people plan to do in 2024 to save & invest their hard earned paycheck! Drop what you plan to do in 2024 to level up your money and finances! 💰 Follow @smallstepfinance Follow @smallstepfinance