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    How to Determine Your Bare Bones Budget: The First Step to Living on Passive Income: Financial Freedom, #191
    How to Determine Your Bare Bones Budget: The First Step to Living on Passive Income: Financial Freedom, #191
    How to Determine Your Bare Bones Budget: The First Step to Living on Passive Income: Financial Freedom, #191
    Ebook83 pages58 minutes

    How to Determine Your Bare Bones Budget: The First Step to Living on Passive Income: Financial Freedom, #191

    By Joshua King

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    About this ebook

    How soon can you retire from the workforce? What is your magic number? How much income do you need to replace with passive income?

     

    You must discover your Bare Bones Budget to see how much your household needs to run. 

     

    Once you have this number, you can replace your earned income (job) with passive income streams.

     

    Your BBB is a series of small budgets for bills, expenses, food, and allowances. The smaller the numbers, the faster you retire. Good Luck!

     

    LanguageEnglish
    PublisherJoshua King
    Release dateSep 18, 2023
    ISBN9798223654230
    How to Determine Your Bare Bones Budget: The First Step to Living on Passive Income: Financial Freedom, #191

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      Book preview

      How to Determine Your Bare Bones Budget - Joshua King

      Table of Contents

      MILITARY FAMILY INVESTING | Joshua King | Home of the Free PDF

      How to Determine Your Bare Bones Budget

      All Right Reserved Military Family Investing | 01  How to Determine Your Bare Bones Budget

      02  Struggle-Mania 2: Is Your Mindset Keeping You Down?

      03  Every Day is Saturday: Living a Happy Cash Flow Retirement

      04  Balanced Books: Living on a Hardcore Budget

      05  Saving vs. Investing

      06  The True Costs of Owning a Home

      07  Passive Income for Everyone!

      08  Your Income Should Increase Every Year 2

      09  Being Broke Isn't Cute part III: Becoming Debt-Free

      10  How to Use a Daily Budget

      Try Something New -Free PDF Download

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      MILITARY FAMILY INVESTING

      Joshua King

      Home of the Free PDF

      www.militaryfamilyinvesting.com

      How to Determine Your Bare Bones Budget

      The First Step to Living on Passive Income

      01  How to Determine Your Bare Bones Budget

      02  Struggle-Mania 2: Is Your Mindset Keeping You Down?

      03  Every Day is Saturday: Living a Happy Cash Flow Retirement

      04  Balanced Books: Living on a Hardcore Budget

      05  Saving vs. Investing

      06  The True Costs of Owning a Home

      07  Passive Income for Everyone!

      08  Your Income Should Increase Every Year 2

      09  Being Broke Isn't Cute part III: Becoming Debt-Free

      10  How to Use a Daily Budget

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      Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article.

      All Right Reserved Military Family Investing

      01  How to Determine Your Bare Bones Budget

      The single most essential part of retiring early comfortably is determining your Bare Bones Budget (BBB). Without a BBB, you’ll always feel you must work to pay all of your bills.

      What is a Bare Bones Budget? A Bear Bones Budget is the minimum amount of money your household needs to thrive every month.

      Notice how I used the word thrive and not survive? We don’t want to plan to struggle throughout our golden days of retirement.

      Is $75,000/Year the Magic Number for Happiness?

      Once you have taken stock of your BBB, you’ll have a much higher chance of exiting the workforce successfully using passive income.

      Why is determining your BBB so important? You can’t retire without knowing exactly how much you need to live.

      Once you know your BBB number, you can patch together a passive income plan to support your living standard. Without a BBB, you’ll think you need much more to survive and thrive.

      When I dropped my retirement papers from the Marine Corps, I believed I would need to work again. I earned $13,000+ a month, while my wife made $3,500.

      Bridge the Gap: How to Create Meaningful Content

      My military pension would be roughly $8,000/month, and I thought losing $9,000+ per month would be detrimental to our household budget.

      However, we started to do the math and realized most of our income was

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