Yes, I Will Teach You To Be Rich works for Europeans as well!
In today’s episode, we will speak to my friend Daniel from Mr. Financial Freedom.
He is a 20-something from Germany and started his Personal Finance adventure only recently. It all started with stumbling upon a Personal Finance book in a bookstore while on holidays and here we are 3 years later discussing his clear plan on how to become financially free!
We will touch upon various topics including investing in individual stocks, Real Estate crowdfunding investing and Daniel will share as well how he helped 2 of his friends getting started on their path to Financial Freedom.
This episode is for you if you want to become financially free and are looking at getting started!
- Whatever Personal Finance book you read, in the end, Personal Finance is personal and there is always something to take away to your own needs and situation. Since the way things are organized in the US and told in personal finance books is different than here in Europe, Daniel took the lessons and applied his own way to achieve Financial Freedom and got into dividend stocks instead of the “classic” investing in a Vanguard Total Market fund & chill approach.
- Real state crowdfunding is an interesting option to evaluate if you are looking at building a passive income. It remains nevertheless a risky venture, so invest cautiously and according to your risk tolerance.
- Establish clear financial goals that work for you. For Daniel, this means increasing passive income over time with a 4-stage plan.
- If you are just getting started: Track your expenses with an app that will tell you how you spend your money and see where you can cut costs or make trade-offs (car vs public transport e.g.)
- Regarding Ramit Sethi’s book, not everything will work in Europe but just keep in mind that if you get even just 1 takeaway from it that you can apply in your life (and there are many more in this book) it will be well worth your 10-15 euros!
- Do not forget to also spend and enjoy what you spend money on 🙂
Who is Daniel?
Daniel is a 20-something German IT Engineer who started taking control of his money in 2017. He found out about the FI/RE community coincidentally by browsing in a book store. After being inspired by so many people around the world, he started his journey towards Financial Freedom in 2018. With his blog mrfinancialfreedom.com he shares his stories on how he’s trying to reach his financial independence.
- Blog: Mr. Financial Freedom
- Twitter: @MrFF2019
- Pinterest: Mr. Financial Freedom
- Book recommendation:
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