What are the two financial levers?

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The two main financial levers, as highlighted by Brad Barrett and his podcast guests, are offense and defense.

  • Offense involves increasing your income through various means such as better job opportunities, side hustles, or creating assets like businesses [1].
  • Defense focuses on controlling and reducing your expenses, thereby creating a gap between income and spending which can then be invested [2].

Both levers are crucial in achieving financial independence, with strategies tailored to individual circumstances, such as higher income brackets or extreme frugality [1] [2].

Side Hustle Power

Alan and Jonathan discuss the power of a side hustle in achieving financial independence. They explain how it can help increase income and reduce expenses, and how it can be a valuable tool for people in different income brackets.

ChooseFI

030 | The Side Hustle | The Unspoken Lever of FI
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