I decided at the end of last year, I should invest heavily in myself for 2022.
This means spending funds to improve my overall well-being – physically, mentally/emotionally, and financially.
So for the financial aspect, I decided to meet with a wealth coach – PAID.
My only source of income isn’t my 9 to 5 so I wanted a guideline/rubric to follow as to what to do with it.
I have been investing in stocks since University but I wanted another perspective on what to do to achieve ‘financial freedom’ if I so desire.
I paid for Anna’s Palomino one-time coaching/discovery call session.
Although it says $89 USD, the site actually charges you in JMD which is about $13000
I have been a fan of Anna’s free content on her Instagram and youtube channel for a while because she’s just ‘awesome’. Actually fun and joke aside it’s because I find her financial ideas and strategies to increase your sources of income interesting and totally doable.
So I signed up and went to the session —
Prior to the session, she sent a listing of all the information you should provide –
✔️ Proof and List of Income Stream(s)
✔️ List of Expenses
✔️ Bank Account and Investment Balances,
✔️ Insurance Policies Sum Insured
✔️ Financial Goals,
Once she receives the information then she comes to the session with your new game plan.
This includes a very strict budget that you should follow if you want to meet your financial goals.
As well as, financial targets to be met for the next 12 months. I must say the budget was strict even for me who has no major expenses in life except ‘braces’ at the time. And she gave the order in which you should set up your financial plan which she has shared on her Instagram and through her various interviews.
✔️Set up your emergency fund
✔️ Pay your debt
✔️ Find a 2nd, 3rd, or 4th stream of income
✔️ Invest in a few HIGH-QUALITY stocks that you have THOROUGHLY RESEARCHED and Dollar Cost Avg
✔️ Purchase the house/land
Now I won’t give the actual financial figure amounts she told because I wouldn’t be able to tell you how she calculated it. So I think the figure will have no effect on you (or you can let me know). I had the meeting on my Jamaican income when I was living in JA at the time. However, since I have moved across to the other side of the world, things have changed .. a little.
At the end of the session, I liked her framework, guideline, and plan for me at the time if I had decided to stay as well as if I decide to go back home any time soon.
✔️ – Make more money
I was complaining that the budget is restrictive and she said if I want more money to spend on the frivolous items I should ‘make more money Some can take the ecomment out fo context, but it;s honestly the truth. If you want to afford certain things in life without compromising on your current quality fo life now or your goals, ‘make more money.
✔️ – Your goals are not goals
My goals weren’t clear cut on the future that I wanted to have like where I wanted to live, if I wanted kids or not, and type fo lifestyle I wanted to live. That may be hard to figure especially when you do not know. But Iif you’re going to meet with someone about your financial future, you should a least have some idea to work with. So think about it.
If you want to meet with Anna, here are all her details —
See you in the next blog post!