Redcliffe Partners

“Frugality isn’t about cutting your spending on everything. Frugality is about choosing the things you love enough to spend extravagantly on – and then cutting costs mercilessly on the things you don’t love. The mindset of frugal people is key to being rich.” – Ramit Sethi.

Cash in the form of savings accounts, short-term CDs, or money market deposits is ideal for an emergency fund. Consider buying stocks to meet a long-term investing goal, such as supporting your retirement. The farther you are from your financial goal, the longer inflation will eat away at your purchasing power. Now is the perfect time to secure your future.

“To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial freedom.” – Jim Rohn

Financial independence can mean different things to different individuals, but it is commonly described as having enough money to live the life you want to live without worrying about money.
For many, this means retiring early and not working unless you really want to. Which inevitably insinuates the need to start planning right away for success.

“The biggest risk is not taking any risk in a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” Mark Zuckerberg