Wikipedia says, “Financial independence is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities.” Financial freedom may be a captivating term to some people and learning about it is important. But learning on how to get to that status takes time, effort, and money.
What we offer on this episode of The His & Her Money Show is a session that a lot of people have to pay for when they sit down with a financial planner. Our guest, Mark Avallone, shares with us a lot of information that we may have not thought of when thinking of achieving financial freedom.
“Every one person has their own unique version of what financial freedom is,” says Mark as he explains how numbers are all relative as people progress up their own financial journey. Financial planning is something a lot of people in America need, but Mark explains that each individual has a unique formula that caters to them. There are many factors and numbers to deal with, along with each person’s standards to consider, in order to figure out that person’s unique formula.
Besides the wealth of knowledge and advice that he gave, Mark emphasizes for a person to commit to their journey. “Not everyone’s going to immediately turn around and become a multi-millionaire,” Mark says, “It is a journey of a million miles that begins with a single step.”If we don't have healthy habits it's going to impact the whole plan.Click To Tweet
Mark also provided some ideas of earning extra income and how to use them. Mark believes that the journey to financial freedom should not be a bitter experience. The pursuit of financial freedom can’t be miserable. It has to be an enjoyable process.
Mark is a Certified Financial Planner and a regular contributor to many circulations such as Forbes. He is frequently quoted by the press and also appeared on local radio shows. Mark’s desire for people to have a chance of a financial life drove him to write the book, Countdown To Financial Freedom. Mark is also the founder and president of Potomac Wealth Advisors, LLC.
What You Will Learn In This Episode
- Why “financial freedom” has a broad definition.
- Mark’s words of advice for people who think they cannot achieve financial freedom.
- What a hobby job is and what to do with it.
- Mark’s explanation of the “million dollar poverty.”
- Why writing down goals has great impact to achieving it.
- Understanding your unique formula.
- The E.A.S.Y. traps of the middle class.
Resources Mentioned In This Episode
Thank You For Listening!
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