20h • General discussion
What's your numbers?
There are 2 key numbers that change the way you think about your financial wellbeing, wealth and stability.
- Your financial freedom number - this is your average monthly cost of life x 12 = yearly expenses x 25
That number in a HYSA (high yield savings account) pays you interest yearly that would cover your yearly expenses without you needing to work or get paid from your business. This is what's considered financial freedom.
Ex. If your monthly expenses are $3K right now, that would be $3K x 12 = $36K x 25 = $900K
So $900K in a HYSA would pay you on average $36K/year which would cover you on repeat (the principle never gets removed)
2. Your MRR (monthly recurring revenue) - this is the number that would enable you to also not work or be active in your business and be covered. If your financial freedom number feels too big or out of reach because of your perceived timeline to get there, this is the best place to start. Afterall it is easier to build something that will pay you $3K / month on repeat than generate $900K in the same time.
When you have your MRR, start mapping different pathways to that number that feels reachable for you first. Path of least resistance / path of most alignment.
For either of these numbers to open doors for you, you need to know what they are first. Do you know your numbers? And which one are you focused on building towards right now?
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What's your numbers?
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