Enjoy the journey

There really are only six things you must get right when creating a financial plan:

  1. Set your goals
  2. Protect against bad things
  3. Prepare for the future
  4. Enjoy the journey
  5. Give back to society
  6. Execute your plan!

Each step is important and I encourage you to do them in order. In this article, I will focus on step 4, which is enjoying the journey.

Enjoy the journey

Until you hit $250,000 to $1 million of assets, your financial life can be extremely simple.

  1. Follow my path to building wealth.
  2. Strive for a perfect credit score.
  3. Rent or lease the things that you want and need (home, car, boat, etc.).


Maximize your life

As long as you are saving 20% of your income, you should enjoy the rest. I can guide you to get the most out of your money.

  • Renting is a great way to enjoy most anything, have limited downside, and tremendous flexibility.
  • Sometimes we prefer to own. As long as you are borrowing the right amount the right way, borrowing is a powerful tool to help you get the things you want and need.

Read below to learn more about how to use borrowing as a tool in your financial plan.


For those who prefer to own or are already borrowing money



The key to feeling wealthy is to live in a smaller house than you can afford. Consider no more than 35% debt to income ratio. Once you select a conservative house, follow these steps:

  1. Minimize your down payment.
  2. Only make the required payments.
  3. Save the rest.

This assumes your interest rate is under 5% and you are following the rest of my plan. Avoid paying down a mortgage and then taking on other, more expensive, forms of debt.


For those who prefer to add in a sophisticated approach


Wealth management loan

All of your borrowing outside of a mortgage should be through a wealth management loan, which is a line of credit against your investment assets. Part of the benefit of building up an investment portfolio is the ability to access this low-cost form of borrowing.

With a wealth management loan you can buy most anything at rates under 3%. I cover the power of this solution extensively in my guided path.


For more information on how you should use borrowing as a tool in your financial plan, check out my guide to borrowing.


Continue on to learn the importance of giving back to society.

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