Most people measure financial security by their salary. Wrong number. 🙅♀️
Security comes down to four:
1️⃣ Your emergency fund: 3 to 6 months of essential spending in easy-access cash. Your “life happens” money.
2️⃣ Your yearly investing number: the total you put to work each year across your pension and ISA. This decides how fast you get to number 4.
3️⃣ Your pension contribution: the % of your salary going in each month. At minimum, enough to get your full employer match. Skipping that is turning down free money.
4️⃣ Your FIRE number: roughly 25x your yearly spending (a rule of thumb, not a guarantee). The pot where work becomes optional.
You don’t need to hit all four tomorrow. You need to know them.
Save this and work out yours, and follow @michelle.huangyy for more financial education
⚠️ For educational purposes only, not financial advice. I’m not a regulated financial adviser, so do your own research or speak to one before making decisions. Capital at risk: investments can go down as well as up and you may get back less than you put in. Tax treatment depends on your individual circumstances and can change. Pension money usually can’t be accessed until age 55 (rising to 57 from 2028).
#personalfinanceuk #fire #emergencyfund #ukinvesting moneytips
Security comes down to four:
1️⃣ Your emergency fund: 3 to 6 months of essential spending in easy-access cash. Your “life happens” money.
2️⃣ Your yearly investing number: the total you put to work each year across your pension and ISA. This decides how fast you get to number 4.
3️⃣ Your pension contribution: the % of your salary going in each month. At minimum, enough to get your full employer match. Skipping that is turning down free money.
4️⃣ Your FIRE number: roughly 25x your yearly spending (a rule of thumb, not a guarantee). The pot where work becomes optional.
You don’t need to hit all four tomorrow. You need to know them.
Save this and work out yours, and follow @michelle.huangyy for more financial education
⚠️ For educational purposes only, not financial advice. I’m not a regulated financial adviser, so do your own research or speak to one before making decisions. Capital at risk: investments can go down as well as up and you may get back less than you put in. Tax treatment depends on your individual circumstances and can change. Pension money usually can’t be accessed until age 55 (rising to 57 from 2028).
#personalfinanceuk #fire #emergencyfund #ukinvesting moneytips
149
The easiest money move you can make: Put your money into a high-yield savings account!
💬 Comment HYSA below and I’ll DM you the link to where I put mine.
This is how you level up your finance game.
This is an easy, simple first step you can take TODAY in less than 8-ish minutes.
By leaving your money sitting in a traditional savings account, you are leaving money on the table.
With a traditional savings account:
👎🏼 You probably get 0.01% in interest. Thanks for the pennies?
👎🏼 There are typically monthly or annual fees
👎🏼 You likely need to carry a minimum balance at all times
👎🏼 There’s usually a limit to how many withdrawals or transfers you can make.
Why settle for less when your money could be working harder for you?
This is a low-risk way to store your emergency fund and make your money work for you while you sleep.
Trust me, I use this account too, and I wouldn’t recommend it if I wasn’t seeing money coming in each month myself.
🔥 Comment HYSA so I can send you the link to move your money in 8 minutes.
You’ll be proud of yourself for doing this one simple money move. I promise.
-Leandra
.
.
.
#emergencyfund #financialliteracy #millionairemindset #passiveinvesting #wealthbuilding
💬 Comment HYSA below and I’ll DM you the link to where I put mine.
This is how you level up your finance game.
This is an easy, simple first step you can take TODAY in less than 8-ish minutes.
By leaving your money sitting in a traditional savings account, you are leaving money on the table.
With a traditional savings account:
👎🏼 You probably get 0.01% in interest. Thanks for the pennies?
👎🏼 There are typically monthly or annual fees
👎🏼 You likely need to carry a minimum balance at all times
👎🏼 There’s usually a limit to how many withdrawals or transfers you can make.
Why settle for less when your money could be working harder for you?
This is a low-risk way to store your emergency fund and make your money work for you while you sleep.
Trust me, I use this account too, and I wouldn’t recommend it if I wasn’t seeing money coming in each month myself.
🔥 Comment HYSA so I can send you the link to move your money in 8 minutes.
You’ll be proud of yourself for doing this one simple money move. I promise.
-Leandra
.
.
.
#emergencyfund #financialliteracy #millionairemindset #passiveinvesting #wealthbuilding
410
You’ve reached the end 🎉