Financial Freedom: Earning the Right to Invest
Taking Control of Your Finances
Meet Doug Boneparth, a millennial financial advisor who’s making waves in the world of personal finance. In our latest podcast episode, Doug opens up about his own financial journey, including how he and his partner, Heather, have worked together to achieve financial stability.
Building a Robust Emergency Fund
For Doug and Heather, feeling financially secure meant building a robust emergency fund that could cover 12 months of living expenses. This wasn’t an easy feat, but it’s given them the comfort and confidence to start thinking about investing.
Sacrifices and Priorities
To achieve their financial goals, Doug and Heather have made some significant sacrifices, including putting vacations on hold. Their last big trip was their honeymoon six years ago, and they’re now planning a dream trip to Japan for their 10th anniversary. But it’s not just about travel; they’re also focused on funding their retirement goals and paying off student loans.
Cash Management vs. Investing
Doug emphasizes the importance of cash management, which involves building a cash reserve and making smart financial decisions to achieve short-term goals. This is distinct from investing, which requires a different mindset and strategy.
Deliberate Planning Conversations
Doug believes that having open and honest conversations about money is crucial for couples who want to achieve financial freedom. This means setting aside dedicated time to discuss finances, free from emotional distractions.
Separating Feelings from Facts
As a financial advisor, Doug knows that money conversations can be emotional. However, he stresses the importance of separating feelings from facts, and creating a safe environment to discuss financial goals and priorities.
Learn More
Want to learn more about achieving financial freedom? Tune in to our podcast episode with Doug Boneparth for more insights and inspiration.
Leave a Reply