Andrea’s life quality is high, he likes to eat well, dress well and has a passion for expensive watches. Last year he lived in New York and Milan and still, he managed to save about 70% of all his income. How is that possible?
Andrea has a blog about personal finance and how to reach financial freedom, but it’s only in Italian and if you don’t speak italian we have summed up 10 of his secrets. 10 steps that, if followed almost exactly in this order, can get you financial freedom.
Understand the equation Money = Freedom
Saving is the first and most important step
“Can I afford it?” is the wrong question to ask when buying something
How to keep a budget
What to invest in? Difference between Stocks / bonds / funds / ETFs
Why the dollar cost average is very important
In the long run, there is no financial crisis that can hit you
Diversify and be safe
Minimize bank fees and expenses
Your friends might be the reason you’re not rich yet
BOOKS we mention
"If You Can": How Millennials Can Get Rich Slowly by William J Bernstein
“The Investment Answer” by Gordon Murray
"The Millionaire Next Door: The Surprising Secrets of America's Wealthy" by Stanley Thomas
"A Random Walk Down Wall Street" by Burton Malkiel
Thank you Andrea and Incassaforte for all the good reads and to push us to invest.
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Grazie,
Claudio and Simone
