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Your journey to financial freedom : a step-by-step guide to achieving wealth and happiness / Jamila Souffrant.

By: Material type: TextTextPublisher: Toronto, Ontario, Canada : Hanover Square Press, [2023]Copyright date: ©2023Description: 362 pages : illustrations ; 22 cmContent type:
  • text
  • still image
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781335007797
  • 1335007792
Subject(s): Genre/Form:
Contents:
Introduction -- Part 1: The what, why, and how of financial independence. Financial independence is within your reach -- The journeyer stages -- The 6 essential components to work on to reach FI -- The FI formula and how the 6 components work together -- Part 2: Creating your enjoyable financial independence plan. Assessing your mindset and habits -- Uncovering your desired life goals and determining your guacamole level -- Setting financial goals -- Creating your financial independence plan -- Part 3: Executing your plan. Optimize expenses -- Increase income -- Pay down liabilities -- Increase assets -- Part 4: Enjoying the journey. The importance of staying focused and consistent on the path to financial independence -- Conclusion.
Summary: "Journey to Launch podcaster Souffrant debuts with a sound program for achieving financial independence, which she defines as being able to live on the "money you've accumulated in your investment accounts... indefinitely." Her five-step program involves figuring out "what your bills and liabilities are in comparison to what you're earning," paying off most debts, establishing an emergency fund, "investing consistently and growing your assets," and maintaining a financially sustainable lifestyle once one accumulates enough wealth to support themselves without a job. Souffrant's down-to-earth style makes financial principles accessible, as when she explains the benefits of investing in index funds over individual companies by noting the latter "involves taking on more concentrated risk whereas investing in the overall market and passively waiting for returns on average can be a more efficient strategy" because of the "low work" and "low effort" required. The author is also unusually sympathetic to the notion that sometimes short-term spending can be worth postponing financial independence, as when she recounts her decision to splurge on a family trip to Disneyland instead of investing the money. Additionally, her suggestions are specific and pragmatic (her "25x rule" recommends saving 25 times one's desired annual spending before retiring). Approachable and sensible, this gets the job done" -- Publisher's Weekly, (2023).
Holdings
Item type Home library Collection Shelving location Call number Materials specified Status Date due Barcode Item holds
Adult Book Adult Book Main Library NonFiction New 332.024 S721 Available 33111011229131
Total holds: 0

Enhanced descriptions from Syndetics:

*A Next Big Idea Club December 2023 Must-Read*



Podcaster Jamila Souffrant shows how to skyrocket your savings, blast through debt and ultimately accelerate your unique and truly epic journey to financial freedom and independence



Our fast-paced world prioritizes the productive busybody--financial security alwaysseems to rule over the insatiable hankering for a Friday night splurge. However, Jamila Souffrant argues that you can in fact spend and save responsibly, all while enjoying that extra side of guacamole. In this book, Jamila will teach you how to:

Determine which of the 5 "Journeyer" stages you fall into and how you should be evaluating your spending and saving goals accordingly Map out different scenarios to quit your job, retire early, and reach financial independence Downsize costly daily expenses in ways you never considered, and spend more in ways that bring you joy Create an effective debt payoff plan that works for you



As a wife, mother of three and first-generation Jamaican immigrant, Jamila knows all too well the struggles of saving for tomorrow while spending liberally today. Now, in her first book, Jamila offers her seasoned expertise in Your Journey to Financial Freedom, providing readers with the resources they need to not only save for cake but eat it, too.

Includes bibliographical references (pages 347-349) and index.

Introduction -- Part 1: The what, why, and how of financial independence. Financial independence is within your reach -- The journeyer stages -- The 6 essential components to work on to reach FI -- The FI formula and how the 6 components work together -- Part 2: Creating your enjoyable financial independence plan. Assessing your mindset and habits -- Uncovering your desired life goals and determining your guacamole level -- Setting financial goals -- Creating your financial independence plan -- Part 3: Executing your plan. Optimize expenses -- Increase income -- Pay down liabilities -- Increase assets -- Part 4: Enjoying the journey. The importance of staying focused and consistent on the path to financial independence -- Conclusion.

"Journey to Launch podcaster Souffrant debuts with a sound program for achieving financial independence, which she defines as being able to live on the "money you've accumulated in your investment accounts... indefinitely." Her five-step program involves figuring out "what your bills and liabilities are in comparison to what you're earning," paying off most debts, establishing an emergency fund, "investing consistently and growing your assets," and maintaining a financially sustainable lifestyle once one accumulates enough wealth to support themselves without a job. Souffrant's down-to-earth style makes financial principles accessible, as when she explains the benefits of investing in index funds over individual companies by noting the latter "involves taking on more concentrated risk whereas investing in the overall market and passively waiting for returns on average can be a more efficient strategy" because of the "low work" and "low effort" required. The author is also unusually sympathetic to the notion that sometimes short-term spending can be worth postponing financial independence, as when she recounts her decision to splurge on a family trip to Disneyland instead of investing the money. Additionally, her suggestions are specific and pragmatic (her "25x rule" recommends saving 25 times one's desired annual spending before retiring). Approachable and sensible, this gets the job done" -- Publisher's Weekly, (2023).

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