1. Meta means about the thing itself. It’s seeing the thing from a higher perspective instead of from within the thing, like being self-aware.
2. A term used in mmo meaning the Most Effective Tactic Available. It’s basically what works in a game regardless of what you wish would work.
The Meta For Achieving Financial Independence:
1) Invest at least 20% of your after-tax income on an ongoing basis.
2) Start that now and increase the percentage as your income increases (combat lifestyle creep).
3) Maximize your tax-deferred accounts and plan for tax diversification (having tax-free money).
4) Become comfortable with risk (seeing your portfolio drop in the short term).
5) Become comfortable with diversification (seeing your portfolio underperform most of the time).
6) Own the global stock market and understand the basics of asset allocation.
7) Buy less home than you can afford or rent (depending on a variety of factors).
8) Avoid consumer debt and have control over spending (keep your fixed costs fixed and variable costs variable).
9) Prioritize experiences and practice minimalism with material purchases.
10) Avoid the big mistakes: picking the wrong partner, overextending on a home, concentration risk (leverage).
It’s what works in the game regardless of what you wish would work.
Not quite ready to start your free assessment? That’s ok.
Connect with me on twitter:
Choosing an investment strategy
Creating a financial plan
Spending less than you make
Sticking to your investment strategy
Implementing a financial plan
— T.J. van Gerven (@TJvanGerven) September 21, 2020