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I started exploring all of my options when it came tocareer and personal finances.
Heres what she did to turn her finances around andprepare for an early retirement.
That week, I leftmy social work careerand began my transition into a new career field higher education.
Cole made intentional career moves every few years and slowly climbed up the ladder.
These moves continued to offer me higher levels of leadership and responsibility.
This was such an important part of my financial journey, she said.
I regularly asked forraises and promotions, and negotiated my salary when moving into a new position.
I didnt do this every now and then I did it every single time I could.
I got comfortable with having uncomfortable conversations and learned what it really means to advocate for my self-worth.
That helped me stay afloat, but it didnt help me build wealth, Cole said.
For example, one year she set the goal of having $10,000 in her savings account.
It inspired me to spend under my means for an entire year, Cole said.
She Focused Heavily on Investing
You cannot store your way to wealth, Cole said.
Believe me, Ive tried!
Even when she was earning $26,000, she still prioritized investing.
If I could invest $25 a month, I would do it, Cole said.
That built a habit of regularly investing every month.
Any time I would have extra cash or get a pay raise, I wouldnt raise my lifestyle costs.
When you invest, your wealth compounds over time.
If you invest that $500 a month?
Youll have over $1 million in 30 years.
Thats $850,000 earned that you did not have to contribute!
Investing is key to accelerating your money growth.
She now owns three townhomes totaling $1 million in market value.
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