NEW YORK, NY, July 02, 2019 — Money Answers Show host, Jordan Goodman, invited Grant Sabatier, author of Financial Freedom: A Proven Path to All the Money You Will Ever Need and creator of the Millennial Money website, to discuss what money actually means and how reevaluating ways to make money can redefine your income and plans for retirement.
Money Answers Show episode, “Can Saving Money Really Lead to Wealth and Early Retirement?” starts at defining what money means to you and determining how to live life on your own terms. This may mean rethinking traditional ways of earning and saving for retirement. Sabatier, at the age of 24, was a college graduate without a job and was forced to move back home with his parents. Looking around him, he saw that his friends and family were stressed about money which began his journey to discovering the value of money. Sabatier states:
“How we think about money, how we embedded with our emotions and our dreams and our desires is a pretty uniquely 20th century creation. I started looking at why do we think the way we think about money and breaking down all those things that I'd been taught and pretty quickly realized that a lot of what I'd been taught about money was either outdated or it just didn't work anymore. That got me on this path of reading and consuming as much as I could about money entrepreneurship.”
What he discovered was that there were many ways to create an income for yourself that didn't require a college degree or working in a position that makes you unhappy, hoping that you will make enough in 40-50 years to retire. People can find innovative way to define industries, or find a skill to hone over time. College can be valuable, but it also an expensive endeavor. Sabatier recommends evaluating if college is the right choice or if taking a gap year or so to work and gain skills and connections could be the right place to start.
In the meantime, creating multiple “side-hustles” for extra income to invest can make a significant difference in saving for an early retirement. It also involves developing a relationship with your time and how you set a value on your effort. You are more likely to increase your income by creating a business where you sell other's time, rather than becoming an employee at a service that sells your time and you only receive a portion of the proceeds.
Once you've decided how you're going to make your income, there comes the balance of living a life you can afford. There is a certain threshold you must meet to create a sustainable life so Sabatier encourages people to focus on increasing income through multiple revenues rather than limiting expenses. Living a life that makes you happy is also important.
For more information on how to find an industry that helps you save for early retirement, listen to “Can Saving Money Really Lead to Wealth and Early Retirement?” and other great podcasts from the Money Answers Show.
You can listen to The Money Answers Show with Jordan Goodman live every Monday 12 p.m. PST; 3 p.m. EST. or download the podcast on iTunes, Stitcher, or wherever you get your podcasts. You can also catch Goodman on Money Answers TV. If you're looking for additional information on financial topics, you can read Goodman's books on everything from repaying your student loans to real estate.
Jordan E. Goodman is “America's Money Answers Man” and a nationally-recognized expert on personal finance. He is a regular guest on numerous radio and television call-in shows across the country, answering questions on personal financial topics. He appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC, and the CBS Evening News. He is the author/co-author of 13 best-selling books on personal finance including “Master Your Debt Fast Profits in Hard Times,” “Everyone's Money Book,” “Master Your Money Type,” “Barron's Dictionary of Finance and Investment Terms and Barron's Finance and Investment Handbook.” Jordan is also a speaker and seminar leader on personal finance topics for business executives, students, associations, investment clubs, employees and others. For more information, please visit https://www.moneyanswers.com.
# # #
Powered by WPeMatico