Achieving Financial Freedom: Top Money Goals from Financial Experts

Financial freedom is a goal that many aspire to achieve, but it takes dedication and smart money management to get there. To provide some insight into how financial professionals have reached this milestone, GOBankingRates spoke with four experts to learn about the top money goals that helped them achieve financial freedom.

Jarrod Sandra, CFP, owner of Chisholm Wealth Management, emphasized the importance of paying off debt as a crucial step towards financial freedom. By eliminating all of his debts except for the mortgage, Sandra was able to free up his cash flow, which eventually allowed him to start his own business. This decision gave him more control over his career and financial future.

Noah Damsky, CFA, founder of Marina Wealth Advisors, highlighted the value of investing in oneself to boost one’s career. Damsky’s decision to obtain an elite designation early in his career paid off significantly, leading to rapid career advancement and increased opportunities for growth. He emphasized the importance of taking action now rather than waiting for the perfect moment.

John Bovard, CFP, owner of Incline Wealth Advisors, shared his experience of setting ambitious salary expectations early on in his career. By aiming for a high salary post-graduation, Bovard was able to stay focused and motivated, leading to several promotions and the opportunity to max out his 401(k) contributions. This strategic approach to salary negotiation and career advancement set him on the path to financial success.

Matthew Payne, founder of Plan of Care Advising LLC, stressed the importance of building an emergency fund as a key money goal. Payne highlighted the peace of mind and freedom that comes from having a fully funded emergency fund, allowing individuals to take risks and pursue their dreams without the fear of financial insecurity. By prioritizing the establishment of an emergency fund, Payne was able to create a solid financial foundation for himself and his family.

Overall, these financial experts’ stories serve as inspiration for anyone looking to achieve financial freedom. By setting clear money goals, prioritizing debt repayment, investing in oneself, negotiating ambitious salary expectations, and building an emergency fund, individuals can take control of their finances and work towards a future of financial independence and security.