Ep. 134 - Audiolivro "Conquista a tua liberdade financeira"

a failure to acquire your financial freedom. Hello, good Tuesday! And so, we are on the week of launching my book. And it finally arrives at the banks on Thursday. At the banks and at the house of the person who bought it in pre-sale. The pre-sale is still active, you can still buy it. I'll leave the link here, where I basically gather all the stores in which it is available. If you buy it on my website, you receive the gifts and the possibility of having a dedicated one. That's how you understand it. And today, what am I going to do? I'm going to mix my great passion for audiobooks here. And this is my novelty, it's not my new book. And bring here a excerpt of what are the first 20 pages, I think, of my book. I'm not a professional narrator, but I'm the person who wrote these words. And that's why I hope you run well. Before moving forward, I wanted to give you an idea of ​​what the book's structure index is. It starts here with a brief introduction, continues to explain what the fire is. How it started, what the pillars are. If the fire is for me, what myth is that we have to go through to be able to start building the bases and move on to practice in our personal finances. It follows, then, with this part of personal finances, which number is that we have to know. What is the importance of thinking. What is the wheel of the rat. How to manage the fire at home. How to manage other goals that we can achieve along this journey. More short-term goals, short and medium-term goals. Then, what does this do here? There is a diagnostic test that basically will tell us what is the ideal point for which we should follow. In other words, we can read the whole book in a sitting and I think this is what makes sense in an initial phase, even because there are always strategies that, even if we are not in that phase, can be applied to our case. But then, when we want to effectively read with more attention, to use and do the things we have to do, to then follow our journey, it can make sense to use this result and jump to the part of the book that makes sense given our position. And then, we can be at point A, which is in the negative. Basically, we have credits, we have dividends, here they are explained what types of dividends there are, what strategies we can use to pay, how we can avoid future dividends. Then, we can be at point B, here we don't have dividends, not even pensions. That is, when we start from zero, the focus here will be to build a little salary, it will be to optimize the expenses, make a budget, start earning more money, there it is to increase here our tax rate. Then, we can jump to point C, in which we already have pensions, but we don't invest. And here there is a detailed explanation of what are the risks of investments, what is the importance of the time and the costs in this capital multiplication. Then we have, I think, 50 pages or so, detailed description of the various types of assets that we can use, money, obligations, estate, money, precious metals like audits, cryptocurrencies, crowdlending, investment funds, PPRs, that is, I summarized here, practically all the assets classes that we can use and that are reached by the small investor, which is what we are, and finally how to move from this theory to practice. That is, here I want us to have information that allows us to advance, with what makes sense for our case, in a comfortable way and to feel confident with our decisions. We can, if we already invested, but we don't have a plan for a fair, jump right to point D. Here we go deeper, in the 4% rule, alternatives to this 4% rule, that other types of FIRE here exist and that can be a possibility, how to build a portfolio, what fiscal obligations exist here, how can we manage the accumulation phase here and what are the protection strategies that we can apply to our case. Then there is the most advanced point, which is the one that all of us swing to achieve, which is, I already reached FIRE, but we need a plan for advanced reform. And this, believe it or not, is a kind of some feliz arts that are doing the math and realizing that I am already FIRE. I know, I also liked how it had happened, it didn't happen, but for people who are in this position, we also have a book chapter, an entire section, that will be useful for them, we talked about lifting strategies, how to organize the lifts, maintenance of the plan, how to use the new freedom and the new time that has been earned, and the infinite possibilities that this new phase presents us. At the end of the reading, we have again the test, that test that we realized at the beginning, and here the idea is that we can see evolution, that is, I know that when we read a book, we can have difficulty in understanding what we actually can learn and repeat to apply it to our life. And these questions were thought precisely to show that there will be evolution, it may not be the evolution that we would like, because of course, if we read the book in two weeks, or in three weeks, it is not at that time that we are going to trace our plan and execute the whole thing, in the perfect time to get to the fire, it is not that it will happen, but we will have more information, more tools, and the greater probability that we will be able to achieve our goals. And now, I've already talked so much that I don't know if it will continue, but let's try. So, let's go to the reading of the first 20 pages here in the book. Introduction. Our most precious moment is time. We can earn more money and have all the power in the world, but we can't stop, we can either go back or speed up the time. The days go by slowly, while we wait for the time to go to work, the week goes by, but the weekend goes by in a hurry. Our procession is relative to what we have done at the moment, but the truth is that we are always limited to 24 hours a day, in the short term, and the life expectancy of the human species in the long term, if everything goes well. We can pay to get out of space, but never in time. It seems to be something that makes us lose our hands, and we try to control and optimize most of the times without success. All these reasons, when I discovered that I could use my money to buy time, I was shocked. How could I have never thought about this before? How could this option never have been presented to me? I had already heard the phrase "time is money" many times, but never what really matters in this context. Money is time. If it is true that we have to change our time for money to receive our earnings and be able to live in society, it is also true that we can use money to buy time, living in complete freedom. This new notion changes everything. What is the definition of wealth? Will it have a lot of accumulated money or have a very high salary? Will it be able to buy without looking at the price or knowing that the basic expenses are secured month after month? According to Robert Kiyosaki, author of Best Seller, "Pai Rico, Pai Pobre", wealth does not depend on euros, but on months. According to the author, the question we have to answer to know our level of wealth is if we stop working today, for how many months would we be able to maintain our current salary? For most people, it will be only a few months, a couple of years, for rich people, it will always be the case. Financial independence is the anticipated reform. This is what Fire means, this acronym provided by the English language, Financial Independence Retire Early, and this is the purpose of this book. Regardless of the starting point, the basis is here necessary to build an executable plan to achieve wealth. What fascinates me the most in this movement are all the inherent possibilities. They start in the newspaper, there are immense different ways of reaching the same destination, and they continue in financial freedom that each person takes advantage of the way they understand. Will this be another utopia or something as possible just to make them happy that they form a very specific set of conditions? I really don't think so. It is not necessary to earn the money or emigrate or be an entrepreneur. It is possible for a Portuguese to live in Portugal that does not receive earnings or be a CEO of a big company. Obviously, it is not for everyone. Only a small percentage of Portuguese will achieve this definition of wealth because there are many requirements that must be met. First, it is necessary to know that this possibility exists. If we do not know how to manage our finances, that investments exist, or that there is a way to buy our time, we do not have to start doing it. After knowing this world, it is necessary to dive into it. If we do not do anything with information, nothing happens. It is necessary to start acting and to put in practice the theory to bring us closer to the great goal. Finally, it is necessary to maintain consistency during the year. Possibly, I tend to justify decisions at all times. To reach a goal outside the box, it is necessary to do things in a different way. Starting from scratch, which I believe is the reality of most Portuguese, the first step is to acquire all the knowledge necessary and break myths and beliefs that can limit decisions. In Portugal, we are clearly at the top of Europe when it comes to financial literacy. In questionnaires and evaluations made about these topics, we have always been in the last places of the classifying table. Concepts such as investments, taxes and inflation are the greatest majority of the population. Portuguese are also at a disadvantage when the topic is about money. Data from the Portugal Bank and the National Statistical Institute indicate that, in 2022, the rate of money from Portuguese families was 9.1% of the income available. This value is inferior to what was verified in 2020, 13.1%, when the economic uncertainty and the restrictions on consumption limited the expenses. The low income available naturally affects the value that can be paid. However, I believe that there are other factors that weigh on the management of the family budget. In Portugal, we have, fortunately, many public services and social support. Social security, which guarantees income in cases of illness and unemployment, national health service and free obligatory clarity, even the universities of higher public institutions with high quality and reputation at an international level cost a fraction of what is practiced in other countries. We also have a system of reforms that guarantees up to the moment equal or similar yields to those of the working age who bought their 40-year-old discounts for social security. Perhaps due to the existence of a security network that holds us, in case of fall, we had left financial education for the second floor. There is no pressure or imminent risk that will force us or even incentive us to make money differently. Circumstances are, however, changing. Since 2022, we all know what inflation is because it is useful in all daily newspapers. Pensions are increasingly a concern, especially for the younger ones, who will have significant cuts when their reforms arrive. The rise of the tax rates and, consequently, the increase in the responsibilities of the creditors indexed in Euribor overcarred the budget of thousands of families. I, optimistic by nature, see many positive consequences from these disappointing scenarios that affect us in everyday life. In the present, all this is negative and difficult, but I believe it is a catalyst for a change that is very necessary and that will be extremely positive in the long term. Inflation has always been a quiet ladron for our children, but now we all have a sense of it and we are looking for ways to overcome it. Pensions are, from always and for many, insufficient to cover all these costs. The radical cut that is provided and that cannot be ignored will force everyone, who now work, to consider this problem and find a solution. With the low tax rates, there was no incentive to anticipate the payment of creditors or to put money into debt. Its rise, on the other hand, incentivized amortization and the more careful management of family spending. The reasons are not the best, but there are more and more people who want to learn to manage their money better, to understand that there are tools and to dominate the best strategies to use to make the patrimony grow. We can not have learned anything from this at school, but every day is an opportunity to improve and correct what we think we can do better. I know that the initial feeling is of injustice and revolt, which is that I did not discover this before, but that of no value. We are going to direct our efforts to increase our reach and it can be controlled. To acquire knowledge, to build solid bases and start our way to financial independence. If you are reading this book, it is because somehow you feel that this is also important. It can be for the will to improve financial habits, to guarantee a decent reform or to anticipate freedom. To ask yourself if the time and energy are not being spent on the right things, or because you have heard about this idea and are curious to know if you will also achieve this dream of a more free future in which money is not a constant concern. Whatever the motivation is, we will explore along the next pages how you can do this, starting from scratch and building your own definition of success and freedom. If you want to continue this reading, click here on the link that I leave in the description, where you can guarantee your exam. You can reach the banks or your house on October 16th, next Thursday. So, so, what's up with us, Manna?