Hi, my name is Reggie. I am a chef who carried student loans and credit card debts for a decade. Through help from some of my friends, I paid off my debts and started saving and investing. I am here to backtrack my steps and share my experiences with you. I have made do with what I earn, which wasn’t much at some point, and you can too.
My story starts with me carrying massive debts in my 20’s. I did not have a good habit of saving and did not have the knowledge to invest and earn passive income.
One of my closest friends eventually took me under his wings and guided me to pay off my debts. I went from 5-figure in the negative to having close to 6-figure in net asset in 5 years. I am also on my way to become a millionaire by the time I want to retire.
Working towards becoming a millionaire is not about being superficially rich and flashy. Working towards becoming a millionaire is about having great financial habits that enable me to live a stable and happy life, provide for myself and others.
I want to take this opportunity to share my tips with my fellow colleagues in hospitality and everyone else who is interested in achieving financial freedom. I am not here to brag or preach. I want to share real tips in saving money and having a healthy approach to personal finance.
We all have lived paycheck to paycheck and worked for minimum wage. However, with a bit of diligence and discipline, we could build a personal wealth that would allow us to retire comfortably.
My first tool in saving money is using an app called Acorns. I use Acorns to save money in 2 ways. First, I automated my app to put away 5 to 10 dollars a day from my checking account. Secondly, Acorns “rounds up” the spare change to the next dollar on all purchases. Once the roundups reach $5, it withdraws the money and invests in a personalized stock portfolio. Your stock portfolio can be as conservative or aggressive according to your risk tolerance.
Acorns also shows you the projection of your saving by the time you want to retire. You could use this tool to set your goal and automate your daily savings for as long as you want. Acorns is a robo-advisor that automates your savings and investments. Automate my saving and investment give me a peace of mind and allows me to focus on living.