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But as he posted, Its not what youve been through, its what youve learned from it.
ONeal learned a lot.
But you dont have to be down to your bottom dollar to benefit from ONeals practical, straightforward advice.
Here are three actionable steps he recently shared onhow to build wealth.
Otherwise, saving for financial independence becomes guesswork.
While he said the average is $1.6 million, this number is different for everyone.
ONeal suggested using this formula: The Amount You Need Per Year/4%.
That is your targeted Wealth Number, which you’re free to begin saving and investing towards.
And while there are many methods to tackle debt, ONeal is an advocate of the Snowball Method.
As you eliminate smaller debts, you gain momentum, which can be incredibly motivating, he wrote.
He lists financial education as fundamental to building wealth.
But, ONeal believes, building wealth demands more than reading a few popular books.
He suggested taking courses ondebt management or investing.
The knowledge helped me make more informed decisions and avoid costly mistakes.
Finally, he suggested seeking out mentors who have walked the path before you to offerguidance and wisdom.
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