When I first graduated college I though that with an engineering degree in my hand I was ready to take on the world and could tackle any obstacle that stood in my way. I quickly found out that my general knowledge in many life subjects was very limited and that if I was going to succeed I was going to need to some help.
Life events like buying a car, buying a house, setting up a 401K, and investing are all decisions that most people will have to face at some point in their life. The knowledge placed in this website and specifically in this section will allow you to step up and face any of those obstacles with more knowledge than at least half of Americans in the united states. In a recent article published by the Chicago Tribune, almost 50% of the population in the united states doesn’t even invest in the stock market!
Stock brokers and business majors dedicate years of their lives focused on obtaining the knowledge of how the financial world works. I personally don’t have that amount of time to dedicate to become a leading expert in the financial world. However, I can transfer the knowledge that I have learned through my life experiences to help educate people like yourself who may be wanting to learn the basics required to live an easier and successful life.
Below is a list of general knowledge which I believe will form the foundation of what you NEED to know in order to develop your own personal path to FI.
- Adjusted Gross Income
- Annual Percentage Rate (APR)
- Assets
- Capital Gain
- Capital Loss
- CD (Certificate of Deposit)
- Consumer Price Index
- Dividend
- Emergency Fund
- Equity
- Expense Ratio
- Leverage
- Liabilities
- Marginal Tax Bracket
- Money Market Account
- Net Worth
- Passive Income
- Private Mortgage Insurance (PMI)
- Savings Rate
- Subsidized Loan
- Tax Deduction and Tax Credit
- Unsubsidized Loan
- 4% Rule of Thumb
This general knowledge section is just one of four parts to build a successful knowledge foundation which will help you reach your FI goals early. Check out the other three sections which form the foundation:
