by J. Cash – Revealed March eight, 2019
Noticed this on Twitter and couldn’t go it up:
In a nutshell: After you reply 20 tremendous straightforward questions, it’ll spit out your rank and roughly the place you stand in your journey in the direction of monetary freedom proper now 🙂
It comes from a more recent blogger on the scene, Cashflow Cop (such a very good identify!), who was impressed by posts from Joel at FI 180 and JD Roth at Cash Boss.
Hyperlink to take the check beneath, however truthful warning – it could get miserable as I scored a paltry 6 out of 14, and that’s with a internet value of just about $900ok!
All these investments banked and all I get is a “Debt-Free” rank?? Haha… Possibly this ballot must be “inspected”!! 😉
The questions are copied/pasted beneath if you wish to eyeball it (adopted by the important thing), or you may take the check straight over at Cashflow Cop and have your rating and rating spit out for you:
FI Checkpoint: The place are you on the journey?
(Doesn’t work on cellular fyi, and a bit glitchy on Safari and Firefox, however works nice on Chrome)
FI Checkpoint Questions:
Do you will have an everyday revenue?
Is that this revenue higher than your bills?
Do you will have a three-month emergency fund?
Do you will have any rolling bank card debt?
Do you will have any overdraft debt?
Do you will have any automobile finance?
Do you will have another client money owed excluding mortgage?
Do you will have a six-month emergency fund?
Do you will have a one-year emergency fund?
Do you will have an emergency fund of two or extra years?
Do you will have any scholar loans?
Do you will have any mortgage debt (excluding revenue producing properties)?
Is your passive revenue not less than 25% of your bills?
Is your passive revenue not less than 50% of your bills?
Is your passive revenue not less than 75% of your bills?
Is your passive revenue not less than 90% of your bills?
Is your passive revenue not less than 100% of your bills?
Is your passive revenue not less than 1.25x your bills?
Is your passive revenue not less than 2x your bills?
Is your passive revenue not less than 10x your bills?
(Click on to study/learn extra)
Checkpoints 7 and up are principally depending on the way you reply all of the passive revenue questions in that second half of the checklist there.
Which is the purpose I didn’t advance because the solely actually passive revenue I get comes from my retirement accounts that don’t fairly attain 25% of my bills but… And apparently you’re not allowed to faucet any of the particular *funds* to reside off on this recreation 😉
Now I might simply cease running a blog right here and watch the pennies trickle in over time with out ever lifting one other finger (if anybody tells you running a blog is passive, punch them of their keyboard!!), however for now I’ll embrace my Checkpoint #6 and contemplate it a problem to stand up the ranks…
It’s no enjoyable being excellent anyhow, proper? 🙂
When you wanna give it a shot right here’s the hyperlink once more, after which make sure you come again and tell us how you probably did… Possibly it’ll provide you with some a lot wanted motivation over the weekend? Or a pleasant pat on the again?
Jay loves speaking about cash, accumulating cash, blasting hip-hop, and hanging out together with his three stunning boys. You’ll be able to try all of his on-line tasks at jmoney.biz. Thanks for studying the weblog!