How To Build Financial Freedom With Stocks

I bought my first stock at the age of 19 and literally 7 years later is when i can honestly say, I achieved phase one of financial freedom from the stock market. So in this video, I’ll go over all the details on how i was able to do it.

????Patreon Exclusive????
https://www.patreon.com/tommybryson

????Call Me????: https://bit.ly/30IBr0i

????Second Channel????: https://bit.ly/3c4sVPS

????????‍????Financial Freedom Course????????‍????$100 OFF CODE: LONGTERM
Link: https://longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom

1. To get Financial free from stocks, i needed to face the music, very early on
• the music was this, stocks were all about compound interest
• So i needed time to allow my capital to continue to grow little by little
• And the more income i wanted the more money i would be requiered to invest and the more time it would take
SO here is a confession
• although i have enough in stocks to make literally $1,000 per month after taxes
• I have and will probably not take any money out of my investment for the next 3-5 years
• And the simple answer is this, i can still make money from my income, so i dont need to interrupt my investments
The question is:
• what do you invest your money into
• My only investment is into Vanguards etf VOO, it holds the 500 larger companies in the US
• And the reason I’m not worried about diversification is because if those companies went down, it wouldn’t just affect America but it would affect the planet ( so each company in a way is diversified )

2. The System to Get wealth in Stocks is This
• figure out your baseline expenses
• It’s the minimum amount of cash you need to make per money to survive
• And the goal is to get to that goal as fast as possible using stocks
• The one rule is, you need to willing to pay the price, so no sense in saying you’ll do it in 3 years if you’re not willing to put in the work it requires

Baseline Expenses: (step 1 )
• Shelter: $165 per month ( 2Bed 1 bath house ) it use to be $0 but i moved ( it was 0 because I had a paid-off home )
• Utilities: Gas, Light, water, internet and phone bill : $120 buck a month
• Groceries: $300 ( food is expensive )
• Transportation: $200 ( gas isn’t not cheap here )
Total: $785 ( I’m embarrassed to say this but i dont have health insurance, i should probably get me some of that )
It’s obvious that if i lived in the US my cost of living would be higher but not really by as much as you think
• i would move to small town where i felt save and could buy a house for cash
• And my expenses would increase just by a small amount
• Where you live is a choice

The second Step is: Once you know how much you need you have to see how much money your investment can make you
• in my case i know i can make 10% on average from VOO
• If i take 4% of my portfolio each year, i leave enough money to keep the investment growing and for me to keep living
• Math says my cost of living is $9,420 per month ( i need to 235,500 dollars to take out 4% and get that much )
• I would say though to raise your cost of living my 50% to account for taxes )

Step 3: figure out how long it will take you to
• if you make $4,000 per month after tax, if you live on 50% and invest 50%
• I would use the mount available for investing to calculate the time, dont use time to calculate how much you need to invest ( because your ego may get in the way )
• In this case if i invest $2000 every month i can achieve my goal in 7 years or so

* PRO TIP*
INFORMATION IS EVERYTHING
????Patreon Exclusive????
https://www.patreon.com/tommybryson

????Merch????
https://teespring.com/stores/tommybryson

✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬

????ACORN FREE $5????
Link: https://acorns.com/invite/38EYSU

⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9

????????‍????DISCORD PRIVATE GROUP????????‍????
https://discord.gg/EcZEHpA

My Camera Gear: https://www.amazon.com/shop/tommybryson

✔ Help Us Reach 600,000 Subscribers: https://goo.gl/0wvm6w

????All My Social Media????
Link: https://linktr.ee/tommybryson

*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

source