3 Tips to achieve Financial Freedom 1. "Be an Owner, not a Lender "- Embrace Ownership Not everyone chooses to start and manage their own business. Many of us work for others or large corporations. However, owning your own business drives one to work harder because you're working for yourself; your name and reputation are at stake. Not only do you work harder, you learn from your mistakes and you are very careful as to how spend the money that you earn, i.e. putting profits back into the company very carefully. One of my favorite books, *The Millionaire Next Door*, compiles research on American millionairaes, highlighting that 'income is what you earn, wealth is what you keep.' This underscores the importance of spending habits in accumulating wealth. We can all participate as owners by investing in common stocks, which represent ownership in a company. Unlike bonds, which involve lending to a company, owning stocks means you anticipate growth through stock price appreciation and dividends. Ben Graham, an economist and fundamentalist quotes, "The individual investor should act consistently as an investor and not as a speculator." Historical data from 1928 to 2023 shows an average return of 9.80% on stocks, illustrating their potential to grow wealth over time." 2. Shop Around - find the best deal Shopping around is always a prudent approach, whether you're making a big purchase like a car or a house or considering investments. Price Matters. In the past, we limited car and house purchases to local options for the convenience of test- driving and inspecting in person. Nowadays, the internet allows us to explore vehicles and properties across the country, enabling us to find the best deals. Cars can now be shipped from places like NY, Colorado, or Georgia. Similarly, when investing, it pays to seek out low transaction fees and efficient options like individual stocks, bonds, or index funds, many of which incur minimal or no purchase costs. These investments can be made through various accounts such as investment accounts, IRAs (individual retirement accounts), or accounts for your children. 3. Start saving early - it takes time for your investments to grow. If you start investing early the power of compounding will work overtime. If you start saving in your 20's, even $100 a month compounding of your investments can be very powerful. To illustrate the above example, if you invested $100 every month starting at 20 assuming a 10% return (roughly what the market has returned on average), you would have $869,975 by the time you are 65. Creating a strong financial position for yourself takes a little planning and discipline. We are here to help you choose the right investments for you, create a financial plan or get your company on the right track with a retirement plan or help you to select the right amount and type of life insurance. Schenley Capital Inc. 417 Walnut Street, Suite 200 Sewickley, PA 15143 (412)-749-9256 schenley capital "Schenley Capital, Inc. does not provide legal, accounting or tax advice. Any statement regarding such matter explanatory and may not be relied upon as definitive advice. All investors are advised to consult with their legal accounting and tax advisers regarding any potential investment ad340062 3 Tips to achieve Financial Freedom 1. " Be an Owner , not a Lender " - Embrace Ownership Not everyone chooses to start and manage their own business . Many of us work for others or large corporations . However , owning your own business drives one to work harder because you're working for yourself ; your name and reputation are at stake . Not only do you work harder , you learn from your mistakes and you are very careful as to how spend the money that you earn , i.e. putting profits back into the company very carefully . One of my favorite books , * The Millionaire Next Door * , compiles research on American millionairaes , highlighting that ' income is what you earn , wealth is what you keep . ' This underscores the importance of spending habits in accumulating wealth . We can all participate as owners by investing in common stocks , which represent ownership in a company . Unlike bonds , which involve lending to a company , owning stocks means you anticipate growth through stock price appreciation and dividends . Ben Graham , an economist and fundamentalist quotes , " The individual investor should act consistently as an investor and not as a speculator . " Historical data from 1928 to 2023 shows an average return of 9.80 % on stocks , illustrating their potential to grow wealth over time . " 2. Shop Around - find the best deal Shopping around is always a prudent approach , whether you're making a big purchase like a car or a house or considering investments . Price Matters . In the past , we limited car and house purchases to local options for the convenience of test- driving and inspecting in person . Nowadays , the internet allows us to explore vehicles and properties across the country , enabling us to find the best deals . Cars can now be shipped from places like NY , Colorado , or Georgia . Similarly , when investing , it pays to seek out low transaction fees and efficient options like individual stocks , bonds , or index funds , many of which incur minimal or no purchase costs . These investments can be made through various accounts such as investment accounts , IRAs ( individual retirement accounts ) , or accounts for your children . 3. Start saving early - it takes time for your investments to grow . If you start investing early the power of compounding will work overtime . If you start saving in your 20's , even $ 100 a month compounding of your investments can be very powerful . To illustrate the above example , if you invested $ 100 every month starting at 20 assuming a 10 % return ( roughly what the market has returned on average ) , you would have $ 869,975 by the time you are 65 . Creating a strong financial position for yourself takes a little planning and discipline . We are here to help you choose the right investments for you , create a financial plan or get your company on the right track with a retirement plan or help you to select the right amount and type of life insurance . Schenley Capital Inc. 417 Walnut Street , Suite 200 Sewickley , PA 15143 ( 412 ) -749-9256 schenley capital " Schenley Capital , Inc. does not provide legal , accounting or tax advice . Any statement regarding such matter explanatory and may not be relied upon as definitive advice . All investors are advised to consult with their legal accounting and tax advisers regarding any potential investment ad340062