FIRE( Financial Independence Retire) Defines my desire with this series. … Currently I am at stage 1 (bills current and my net cashflow is zero or positive)in my financial independence journey. So my only goal in this stage is to get my bills current. The second goal would be to get my net cash-flows to be a positive number.
Let me show you how my finances look;
We will use my salary as the base measure for everything else
HOW WEALTHY AM I?, ‘0’ MONTHS
As you can see, my cashflow is currently negative, meaning my first stage goal is to get my netcashflow to either zero or a positive number.
If you notice my wealth reads as ‘0’ months, that means with my current asset income, I am not able to sustain my lifestyle for even a month without my salary. My end goal is to increase the number of months my assets can sustain my lifestyle.
My first challenge is to create income from other sources outside my earned income. The direction I went with was to get into the network marketing space.
I will continue tracking my progress as I move forward to wants stage 2: Financial stability(bills are current,netcashflow is positive and I have started an emergency fund)