Are you ready to break the family cycle of poverty and better manage your finances? Read about my journey going from a negative net worth of $50K to building it up to $700K from investing. If I can do it, you can too.
Have you ever felt embarrassed about your financial situation or your lack of knowledge in investing? Believe me, I sure have, especially when my boyfriend (now, husband) asked me about mine when we literally just started dating. My heart sank, my cheeks flushed and I was so so embarrassed.
Why am I telling you this?
Well, I know what it’s like to want to do something about my financial situation, I know what it’s like to want to start investing but scared of failing, and I know what it’s like to want to break the cycle of poverty in my family.
When he asked me about my financial situation, I found myself trying to justify my position. I immediately blamed my compensation structure and told him that change was just around the corner. I tried to save for years, but things just kept coming up to wipe it all away.
Finally, I confessed that my net worth was around -$50K.
Imagine how I felt knowing he had $70K sitting in his bank and $40K in his 401K (to be fair, he had 6 years ahead of me).
I grew up with my mom telling me that God would provide me with just enough. Never more. Never less. But I had to open my eyes to the fact that I was just bad at managing my money and work hard to undo that mindset. Don’t get me wrong. Having an Indian mother taught me that there is always someone somewhere living on less than you do and doing ok.
But if you are feeling embarrassed and ashamed over your finances, it’s not your fault. You weren’t taught the right things about proper money management or investing. Your parents weren’t taught the right things. But it’s up to you starting now on what your future could be like.
It’s not going to be easy. But this is exactly what motivated me to want to break my families cycle of poverty and shift us to generational wealth. I know it’s possible for you because, after 6 dedicated years in investments, we built up our net worth to $700K!
The key is to decide to finally do things differently.
Starting investments may not be the best idea when you have a ton of high-interest debt, but if that’s not the case, I can help you jumpstart your investment journey.
If you need help creating your own financial plan, sign up for a 1:1 session – https://moneywithmaggie.com/services.
ORJoin my Investing for Beginners course waitlist (Next Cohort – Early Spring 2023): https://moneywithmaggie.com/course
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