.gif)
How To Invest Money In Your 20’s
Jason 0 Comments Retirement Planning Tips for Retiree's
Hey, what’s up guys? Kris Krohn here. Yes, it is winter. Yes i’m driving with the top down. It is one of my favorites. I am totally impervious to the cold. But today I want to jam with you in real estate and I want to talk about why 90% of all millionaires make it in real estate. And there’s very, very specific reasons why. and so what I want to do is break it down for you. I really want to give it to you in in like the deeper science than I have in the past. And I think you’re really going to appreciate it. So, check it out. I’m up here at my mountain home. It is snowy, it’s cold. But a super exciting day. You know, as I’ve started this YouTube channel, I’ve been really honing in. What is the information that would create the highest level of value for you? And today, I want to give it to you in one straight shot. How you invest in your 20s, so that when you’re in your 30s, not your 40s, not your 50s, not your 60s. You can really living be living life on your terms.
To me, it doesn’t matter whether you have money, whether you don’t have money. You have good credit, you have bad credit. Frankly, it really doesn’t make much of an impact at all to me. So, here’s what I want to help you understand. There’s a number of strategies when it comes to the world of real estate investing. In fact, there’s 32 main strategies out there. The first thing I need you to understand is that most strategies, they’re not good. You shouldn’t do… There’s tax deedsm there’s flips, there’s a lot of things that are popular.
There’s multifamily. There’s rentals. And I don’t do those things and I don’t think you should do those things. I think you should do what makes the most money that takes the least time in the least effort and has the least risk. Because dude, no one likes to start over, no one likes to lose and when you invest, there is some risk. The reason why I retired at the age of 26 is because I followed a very specific formula. And I want to detail it out very specific for you because there are 3 things that you do need to know about making money in the game of real estate. And if you follow these 3 things it’s gonna be a total game changer for you.
So, let’s head over to the whiteboard and I want to document this for you. Because I want you understand that when you get in the game of real estate, you want each property to be a win. When I found out that you could make 50 to 100 thousand dollars per deal, I got to tell you. That was something that was super exciting for me. Because I realized if I want to make a million dollars, then I just need to be able to count to 10, right? I got 10 finger. So, so much easier than some of the other ways and methodologies are out there. And so I want to ask you how many deals do you need to do before you’d say, “Wow, I’ve made it. I’ve arrived.” And with what I’m about to show you.
I don’t want you to be thinking in terms of like, you know, “I want to be a millionaire so I need a million dollars. I need to do 10 deals.” it’s actually a lot simpler. You don’t need a certain amount of money. What you need is a certain amount of properties producing a certain amount of residual income. You’re not striving for a certain net worth. You’re striving for your real estate to perform in a manner to give you enough residual income that you don’t need to work.
When I say I retired at 26, truth is I didn’t really retire I just became financially independent. And I quit my job and I got to live life on my terms. And it’s because of what I’m about to show you. There are 3 things in particular that you need to be aware of. Every time you do a deal in your backyard and it doesn’t have to take money. Some of these deals take nothing or maybe 1,000 or 3,000 dollars.
Very little. And the first thing that I want you to know is that you should be making around $5,000. just for consummating the deal as in finding $5,000 is what you get paid up. Now, up front is really important because who wants to be in the game of real estate and say, “Hey, I’ll work today but I want to get paid in years.” You need to get paid now. The second thing that’s important is that when I buy single-family homes, I buy them underneath the median. I buy them with my specific system. Which by the way it’s in a book that you can get for free. You can download it. If you click the link or the one that’s popping up on the screen right now, you can get my book for free that will go into deep detail on this. What I want you understand is that you get paid 5 grand up front and then you’re getting 500 on average freedom dollars every single month.
Now, this $500 is really important because if you buy 10 homes and those 10 homes are each paying you 500 a month. 500 a month times 10, that’s $5,000. You might not be able to retire on $5,000. But guess what you can do? You can walk away from a job that’s paying less. And if you figured that out, dude then why not do 20 more why not do 100. Especially when I show you how you don’t need to access your own money to make this happen. The third thing though that you do need to understand is while there is upfront money, this money is along the way.
You just keep on getting it. There’s another kind of money that you get when you sell this home in 2 3, 4 or 5 years. And it’s tens of thousands of dollars. If you’re buying it buildings the median, I’m guessing for all intents and purposes. And I use this as an example sometimes. $30,000. It could be 50,000, it could be 80,000. It could be 20,000. But probably not less. And if you start adding the upfront money, the $6,000 on average that you’re getting every year and this money, you start making 50 to $100,000 on every deal that you do. And my friend, that’s that’s the part of this whole game that I want you to have an understanding for. Is that if you’re getting paid upfront along the way and at the end, then the cool thing is…
And here’s the secret: You can multiply this. You do 2 or 3 or 4 of these deals. And it’s… So your ROI, your return investment is so high that you’re going to start attracting a very special kind of people. These people are called partners. And a partner is an individual that says, “Hey, I’m into my career. But I’ve been saving up some money. I don’t want to learn what you’ve learned. Can we go in 50/50?” And this is when you hit the big time and this is when you can do. Right now, I can do as much real estate as I want. I have a goal of becoming a billionaire. I want to be a billionaire philanthropist the second half of my life. And right now, I’ve got assets growing like crazy.
But I followed the system to get started to recreate my financial independence. And then my partnering system which you’ll also learn about in the book is what has taken me from independence to true financial freedom. Did you know there’s a difference between those 2? Financial independence just means you got out of your job and you’ve replaced it. But financial freedom means that you’re now living the lifestyle that you want. So, living where you want, donating the way that you want, giving to charities the way you want. You know, being able to take the travel and the trips and vacations. It’s a very real byproduct of all the real estate investing that we’re talking about here. So, what I want to do right now is I want to share with you how you can get my book for free. I want to share with you what’s in it and first of all, it’s called Unstoppable.
It’s a brand new book. And it’s different than any my others. Because I took out all the fluff and I Shrunk it really small. I just can grab a drink here by my absolute favorite drink. If you ever come visit me, just bring me a six-pack of apple beer. It’s not beer but I got to tell you it’s really tasty and I know the carbonation is not good for me but… So.. So, here’s the deal on the book. It’s called Unstoppable. And what it does is it documents your custom journey to get a particular realistic game plan to go from nothing to millions.
And here’s what I want you to understand about that: Whether you are… Whether you would say you’re too young or too old, whether you would say I don’t have enough money or I don’t have any money, dude that doesn’t matter. In my matrix of the book, I actually show how all those combinations of people can get in the game of real estate. And dude, it if you come out to my live events which you very well might, you’re going to meet all sorts of people, successful investors that are out there crushing it and doing it.
Right now, the book is free. We’re going to do that for a period. All you got to do is click the link below, get your hands on a copy of the book. And it’ll even come with a consultation if you want. You can talk to remember my team and basically say, “Okay. I’m reading this book. I’m getting my custom game plan. I’m figuring out my next steps.” And having a member of my team contacting you it’s just to make sure you understand the book in its principles. And if you get stuck then we want to finish customizing the process so that you’re completely clear on exact steps you need to do to make your next million or your first million in real estate.
As found on Youtube
Read MoreAcute Wealth Advisors has tips on spending in retirement
Jason 0 Comments Tips for Retiree's
So you’ve save save save your whole life and then it comes time to retire and you’ve got to start spending that money down well for many baby boomers spending that cash isn’t as fun as they thought it would be Matt Deaton of acute Wealth Advisors he is here this morning to explain and Matt is one of the valleys leading financial advisors he and his partner Damon they have a weekly retirement radio show and they help folks prepare for retirement and Matt it’s it’s mind boggling really when it comes time to actually go out and spend the hard-earned money that you’ve worked hard for you said that some people can’t do it they’re they’re fearful why well part of its they’ve they’ve developed habits of saving their whole life and now it’s time to start spending I’ve got this client that I’m working with right now she had hurt us at one of our workshops and she came in and she was currently being with her advisor once a month because she was so worried about her money she had just retired she didn’t know what to do and as she talked and she talked through these things I found that she was basically paralyzing or spending she just really didn’t know what to do she I told her I said you have some investments but you don’t have a financial plan you don’t have a plan for how you’re gonna spend this money and so you’re really really scared about it oh yeah and so so we’re working with her to kind of put that plan in place so that she can you know and she doesn’t have to meet with her advisor every month right and be worried about this that she can go out and enjoy retirement all right so how do you suggest that those folks out there who might be like her how do they overcome their fear well I think there’s a couple things number one I think knowledge is power the more you can understand about a subject the better and so we believe when we sit down with someone to educate them and teach them and so we spend the first few appointments just talking and educating about those the other thing that we have started to do is we’ve started to do these college courses okay so we hold these courses that’s a community college close it’s two nights it’s for two hours each night so it’s not long it’s not extended but it’s enough time to go into depth on these classes in this subject so that people can now own their finances because now they can learn about fees they can understand how to analyze their statements all these things that people get petrified and worried about that cause the issues when they were and so this to our class it’s two nights for two hours it’s a I mean are we you’re teaching us basically how to spend so we’re taking notes oh there’s a workbook we’re gonna teach people how to maximize their social security so the first thing we’re trying to teach people is how to get the most out of their money okay but then once you understand that you’re gonna know okay this is the money I need to set aside for the income I’m going to need ten years down the road but this is the money money I can spend now so I can have some fun while I’m young and I’m healthy and I can move and I can go on the cruise and all the things you’ve been doing so it’s it’s a it’s a course that just starts from the basics and builds on them alright so after we finished this two-day course you’ve given us a plan of action our distribution plan do you suggest that we update that oh absolutely so just because you go to the one class or just because you’ve sat down with a financial advisor at one time you cannot just stop there you need to continue to develop and make changes to that because things are gonna change your health is going to change your spending is going to change and so you need to make adjustments to your financial plan and I would have to imagine that after they have this plan that they the fear is lifted a little bit absolutely because again instead of just having investments you have a plan and so if you’re an emergency and you have a plan a lot of the fear goes away you know what you’re supposed to do that class and go gosh darn it I gotta get out there and enjoy my retirement well that’s all probably overwhelmed and and excited well she’s turning to become more excited you know she’s been overwhelmed she’s been fearful now she’s starting to get where she’s like okay I can really enjoy the travel I don’t do it I can do it and I think that you know that fear is normal because we’re not getting the income anymore so we don’t want to stop our current lifestyle right great information well let’s give you some information let’s to give you the tools that you need to enjoy retirement if you want to learn more you can attend that upcoming two-day educational course that we were just talking about hosted by acute wealth advisors there are two courses that you can choose from in October now one is going to be held at Mesa Community College the other at Glendale Community College and if you call in the next thirty minutes you’re going to receive 50% off the tuition for that course so it’s half off four eight zero six two zero six nine zero seven is the number to call spaces filling up so be sure to reserve your seat today acute wealth advisors they have offices across the valley for your convenience learn more by visiting acute wealth advisors dot-com
As found on Youtube
Read MoreStay hydrated – Health and Wellness Month #4
Jason 0 Comments Health for the Retired
(logo whooshing) (ethereal voices) – Hi everyone. This is Stephanie for IVA, the Institute for Vocal Advancement. Welcome, to our health and wellness series for voice teachers. (relaxing music) So today, I will be
talking about hydration, super important subject, not
only for us voice teachers, but for life in general, right. We only are healthy, and
are functioning well, if we stay hydrated. Like the general recommendation is, to have six to eight
ounces of water every day. That equals about two liters of water. However, if you are a voice teacher, that amount might actually not be enough. And I tell you why. When you’re teaching voice,
you’re talking a lot all day. You’re singing a lot. And with every exhale that you’re doing, while you’re speaking, or singing, you’re actually losing water. So that’s why you need to make sure that you’re taking in more than just that minimum
amount of water, okay. It’s for you in order to
stay healthy in general, however, you need to
focus as a voice teacher, for a long time, depending
on how many hours you’re teaching a day, it
is crucial to stay hydrated, in order to really, really keep your focus throughout the day, also to
the very last hours of the day. They deserve, the same
focus, the same intensity, of attention, that you
had in the very beginning. And again hydration is key. But not only that, it’s
not only to stay focused, to keep your brain going, no. How do our vocal folds
function at their very best? You got it. It is when they’re hydrated. When they’re nicely
full and rich of water. Problem is though, kinda like
with short-term hydration, doesn’t really work, okay. Because, when I’m drinking
just a sip of water, it doesn’t reach my vocal folds. It nicely lubricates my
throat, it feels good, it might help me after a few minutes, to keep the focus again, however, have you ever heard the term, you’re singing on yesterday’s hydration? That is correct, because
it takes quite a while, for the water that you’re drinking to actually go through your system and end up hydrating
your vocal folds, okay. So that’s why you need to
stay hydrated constantly. Well, how do you do that best? Well what I do all the time, everyday, it’s like the first thing I
do when I get to my studio, I bring a big pitcher
of water, flat water, not carbonated water, because honestly, carbonated water makes me burp, okay. And, but not only that, I also
bring a big pot of green tea. I just love green tea, it feels good, it’s kind of energizing. It makes me awake, but not tired. And so I have a pitcher,
water, and a pot of tea, next to me all day. I constantly keep drinking it,
keep pouring it into my mug, but also whenever a student comes in, it’s the first thing I
offer them, they love it. They know when they come to my studio, I present them with the
best tea, with good water. Sometimes I infuse the water with lemon, or grapefruit, or cucumber, just like freshly-sliced cucumber. Tastes amazing. Has nice enzymes in it, and again, it makes me actually drink more water, because it tastes yummy. Doesn’t contain sugar. Sugar honestly, it makes you tired. It’s not good for you. So it’s very fresh, and just very nice also for your students. And sometimes in the morning when I start, I have a coffee on the side as well. But honestly, that doesn’t
really count for hydration. So in terms of hydration,
you only wanna count, water and tea that you’re drinking, right. So, yeah, that’s mainly
what I really, really recommend to you. Constantly, constantly drink. Have it right next to you. Present it to your students. Whenever your student is talking to you, or you’re explaining
something to your student, or you’re in a transition,
while you’re teaching, from working on exercises,
towards working on a song, you’re bringing up a track
on YouTube, or something, I always right away grab my glass, or pitcher of water, and refill, refill to my students. That’s how I stay
hydrated, because honestly, if I don’t do that, I notice immediately that my voice gets
scratchy, I’m losing focus, and I don’t like it, because
I wanna be 100% available, vocally and mentally to my students. And I know you’re just the same. So, take that into consideration. Get the pitcher. Get the big pot of tea. It’s just amazing. And I’m sure it will be helpful to you.
As found on Youtube
Read MoreHow To Become A Millionaire In Two Years Buying One House Per Month – Real Estate Investing
Jason 0 Comments Retire Wealthy
Joe: Hey, it’s Joe Crump. I’ve got another video here for you. This one is from Karen Smith in Columbus, Indiana. Karen: “Joe, can you explain the millionaire matrix? Does it really work and can you do it without down payments or using your credit?” Joe: Absolutely, it works. The Millionaire Matrix is a structure that I teach that shows people how they can actually make a million dollars in equity and in cash within 2 years by buying just one property per month using no credit and no down payment.
And instead of just me explaining it in this video with a talking head, I’m going to pull up a little power point here and show you exactly how this process works. Joe: I created this little power point to show you what the Millionaire Matrix is and how and why it works. Joe: Before you can understand how it works, you need to understand the principles behind it and why it works. That brings us to the idea of businesses in general. 90% of all of the businesses that start up fail in the first year, whereas 90% of all new franchises succeed. Why is that? Why would franchises succeed and businesses in general, not succeed? And the big answer is — systems. Franchises have step by step systems to show the business owner (the person who’s implementing the tactics in the strategy of the business) how to do each little system in the business.
Joe: Let’s take the ultimate systematization — McDonald’s. If you go to a McDonald’s, everything is done the same at every McDonald’s that you go to because each of their processes is spelled out in a specific system. They have a system for making a Big Mac. They have a button to press when it’s time to flip the burger. They know how many burgers to put on there, they know what order to have with a picture of a hamburger, and how to put it together where it shows you that that’s where the bun goes and that’s where the hamburger goes and that’s where the lettuce goes and that’s where the special sauce goes. And it makes it very easy for people that are not very skilled to put together a hamburger consistently all over the world. Whether it’s here in Indianapolis or whether it’s in Wisconsin or California or Berlin or Paris or Ireland — it doesn’t matter — wherever you go to a McDonald’s, you’re going to get the same burger — it’s going to be put together the same way by the same skill level of people.
Now, McDonald’s has a 200% employee turnover every year. That means that they’re constantly trying to train new people. For them to get that consistency, they have to have a system in place to make that business work. Joe: And that’s what I’ve created in the Push Button Method and the mentor program. I’ve created systems so that I can take new people (people that have never been real estate investors before) and give them a system and say, ‘Step 1, do this. Step 2, do this. Step 3, do this.’ Joe: That takes us to the next question in the process here, which is what types of deals make you money.
You need to understand that as well. In real estate, there’s only two types of deal that’ll make you money. One is properties that you buy substantially under market value, either for cash or as an assignable cash offer. And two is properties that you can buy at market value or below but you can buy them on terms. Now, by terms we’re talking about zero down structures that I teach; subject-to, multi-mortgage, land contract, contract for deed, lease option, assignable cash deals. Those are terms and if you can buy properties on terms like that, then you can make money even if you buy them very close to market value. Joe: That’s going to take us to the next step which is the beginners Millionaire Matrix. Now here’s what we want to do with the Millionaire Matrix and the goal of each system. We want to be able to make $5,000 per deal. We want to be able to do one deal per month. We want to be able to work 10 hours per month. That means hours per week. We want to be able to have $200 residual income per deal.
That residual income I’m talking means every month you’re going to get $200. We want to buy 10% under market value; it doesn’t have to be dramatically under market value because you’re buying on terms, and I’m going to show you why that makes the difference. And you’re going to want to sell it for 10% over market value and I’m going to show you how to do that. Because we’re selling it on terms as well so we can sell it for more than it’s worth. So this is the basic concept for the Millionaire Matrix. Joe: Now let’s take an example deal — how the Millionaire Matrix and an example deal would work within it. Joe: Every deal is going to be a little bit different and you’re going to make a little bit different amount of money on each one, but this is sort of the model that we’re going by. I used the $100,000 as sort of the market value of the property simply because it’s a nice round number.
I know that the market value across the country is all over the place. You should probably go by percentages rather than this but I want to show you, even on a lower end market, that you can still make this kind of money. On a higher end market you’re going to make more money. So let’s start with a lower end market and then you can extrapolate from there. Joe: Let’s say you’ve got a purchase price of $90,000. The market value is $100,000. The financing — you’re not putting any money down, you’re not getting a new loan — you’re buying it subject to the existing loan. Which means that the property is going to be deeded to you and you’re going to take over the payments on the loan — without qualifying on that loan (remember that).
You’re going to sell this property for $110,000 to a new lease option buyer. You’re going to sell it on a one year lease option or maybe a 2-5 year lease option if you choose to do that. At closing you’re going to make $5,000 on the lease option fee at closing of this deal. The equity left after the lease option fee is about $15,000. You’re taking $110,000 sale price, you’re taking $5,000 from that, and that means you’ve got $105,000 that they still owe you for the property. You only owe $90,000 so that means there’s $15,000 in equity. Now the monthly loan payment on this 90,000$ loan that’s there — let’s say its $900 a month and you’re going to lease this property for $1,100 a month. This is an example deal. Joe: Let me also reiterate — you’re buying this property subject to the existing loan. That means that you’re not putting any money down and you’re not qualifying for a loan. They’re deeding you the loan. You have complete control of the property but it’s subject to that loan that’s existing on there.
You’re buying it for a little bit under market value but not that much under market value. You’re selling it for a little more than market value but not that much over market value. You’re selling it on a lease option which the buyer may or may not exercise. You’re getting a lease option fee at closing — you’re making $5,000 at closing. And you’re going to have that equity left in the property, and if they exercise that option, you’re going to make that other $15,000. You’re going to have that loan payment that’s on that existing loan of $900. And you’re going to get a lease income on that property of $1,100. So you’ve got $200 of positive cash flow every month. So that’s sort of the model of this whole thing. Joe: So let’s go to the next frame here. This breaks down to doing one deal per month over the first year. I’m going to show you how to become a millionaire basically over a 2 year period.
Month one — let me bring my little arrow up here — cash at closing, making $5,000, that’s the lease option fee. The $200, remember the difference between the $1,100 and the $900 a month payment so that you made $200 a month on that. Equity payoff this month, you didn’t make anything. It hasn’t paid off. Nobody has exercised their option. Equity buildup — you’ve got $15,000 because you bought that property and there’s $15,000 of equity. Remember the spread — you bought and sold it for $110,000, you got $5,000 and they still owe you $105,000, and there’s a $90,000 mortgage. That leaves $15,000 on there that’s your equity. Joe: And then a tax benefit based on $100,000. This is depreciation. If you take this property and you depreciate it by years, and then you divide that by 12, you’re going to end up with an actual tax savings in your pocket of about $106 based on about a 30% tax bracket. And these are just general numbers here but they’re pretty close.
Joe: Month 2 — you’re going to do the same thing. You’re going to do another property, make another 5 grand, make another $200 a month and so now your monthly residual income is going to go up to $400 a month. You’re not going to get any payoff because the year hasn’t passed yet. You are going to build another $15,000 of equity in the property. And now your monthly tax benefit is going to be $212. Month 3 — $5,000 -same thing – it just goes up every month for the whole year. Let’s go all the way down to the bottom of the year. At the bottom of the year you’ve made $60,000 in cash at closing from just doing these 12 deals. And believe me, I’ve got people that are doing 5 or 6 of these a month on a regular basis because they’ve set up the systems that I’ve given them to do that.
Joe: The next thing is the monthly residual. Just from what’s going on here, you’ve made $15,000 the first year in that; residuals. Equity payoff — nothing’s paid off the first year yet because nobody has exercised their option yet. Equity buildup — you’ve built $180,000 worth of equity in the deal and you’ve made $882 in taxable savings during that first year. So in that first year in the Millionaire Matrix, you’ve made a total amount of cash of about $83,000. You’ve made total equity of about $180,000. So you’ve just made $263,000 in the first year doing only one deal per month. Joe: Now with these deals, if you have 8 or 10 hours of work into these deals, that’s a lot of time in these deals. So remember there’s a startup learning curve. And there’s going to be the time that it takes to set this process up, to get this system going; all of that stuff. But the actual time of the deals is very, very low. And once you learn how to do it and once you get it going, it’s going to be easy to keep it going.
Joe: So let’s go to year two, and look at the second year. Things start to change dramatically in year two, if you’re going by this model. And we have different models that we go by. You don’t have to go by this one. But I’m just taking a simple model and how it can expand your income very, very quickly. Let’s look at month one. You’ve got $5,000, your residual income is now $2,400 a month because you’ve got 12 deals (and you only have to keep 12 deals like this because they’re going to be paying off as they exercise their options).
So as the first one pays off and you get your equity out of the property because they exercised their option, you made $15,000 equity payoff in cash plus you bought a new property, so you’ve got $15,000 new equity buildup and now you’ve got 12 months’ worth of tax savings over 12 properties. So you’re going to be making about $1,200 a month in tax savings, which is pretty substantial when you start making this kind of income; it’ll save you a lot of money. Second month — same thing. Joe: Now, keep in mind — this is the big variable — how many properties are going to actually exercise their option? It’s going to be much less than the total amount, so you may not make this full amount. There are ways to optimize this process and get more of the people to exercise their option, and I show you how to do that.
I’m not going to spend the time on this video to do that. Joe: But let’s look at the bottom line on the second year. $60,000 – same as you made last year on the cash flow. Monthly residual — it well over doubled. Equity payoff — assuming that they exercised their options, just made a nice chunk of money on equity payoff. Equity buildup — you make another $180,000 on top of this $80,000. You made $15,000 in real cash money in your tax savings through depreciation, so it was a really nice year two. Then your second year on the beginners Millionaire Matrix is total cash at $284,000, and total equity of 180,000$. The grand total of year two is $464,000. I add that to the $263,000 and you’ve got $750,000 in your first two years, not quite the million that I promised you but pretty darned good. Joe: Let’s say you get better at what you do, that you get a little bit better at the process. As you’re doing this, how much will you improve? Will you get 100% better? Will you get 75% better, 50% better, 25%? How much better are you going to get at this process after one year? I venture to say that it will be more than you think.
But let’s say that you only get 25% better. If you get 25% better at better price from the seller on your property, instead of getting 10% under market value, you get 12.5% under market value. Not very much — next to 2.5% better on your price. Let’s say you get 25% down from your buyer so instead of getting $5,000 down you get $6,250 down. Let’s say you get 25% more lease money monthly and your $200 goes to $250 a month. Let’s say you get 25% higher price from your buyer — instead of getting $110,000, your price goes up to $112,500; not that much more. And you do 25% more deals a year so instead of doing 12 a year you go up to 15 deals a year. Now this is very realistic to think that you can get just 25% better. I have people that get 100% to 500% better at what they do and their production goes up with that statistic. The ability that you have and the talent that you have in this grows as you do it.
This is a skill and you build that skill through this process. Joe: So let’s look at the second year Millionaire Matrix if you’re 25% better. Now you’re making $6,200 instead of $5,000 so that jumps that up from $60,000 to $93,000. That just increased your income by 50%; right in the first column. The second column goes up a good deal as well. Your equity payoff went up almost $100,000. Your equity buildup went up by $100,000. Your tax benefits, well, they didn’t go up at all. But still, you just increased your income by a substantial amount of money. So just getting 25% better at the second year of the Millionaire Matrix — now you’ve made $730,000 that second year. You made $260,000 the first year, so NOW you’re at the million dollars. Joe: This is a realistic model and it can work. Again, part of the biggest downfall of this process is the amount of people that exercise the option which is less than we would like, but keeping these properties — you also continue to build your equity and you buy down the notes.
You get the depreciation and those other things start to grow. So that’s not a bad thing, either. Joe: So this is a great way to do it. This required no money and it required no credit. All it required is your effort to follow through with the step by step system of putting together subject-to deals, of finding buyers for those subject-to deals and filling those properties.
And you do this all without risk because you’ve got so many contingencies in the deals that you’re doing that and if you don’t find a buyer for the property that you buy, you don’t close it. I think the whole beauty of this system is that you never have to close a deal until you know that it’s going to make you money, so instead of everybody doing zero down (which everybody talks about and I talk about as well) you’re not really doing zero deals.
What you’re doing is cash out deals, all the time, without using your credit. So it’s very exciting stuff. Joe: That’s the Millionaire Matrix. it’s a very powerful way to buy properties. It creates cash flow for you upfront so that you can have a sustainable business and it also creates that long term growth and wealth building that anybody needs if you want to retire from this business and be wealthy. It’s an exciting process. This, by the way, is what I teach in my six month program. It’s what I teach in my Push Button Method. So, either one of these programs will get you into more detail about exactly the step by step process of how to put all of that together.
I’d love to work with you and to help you and make your business and your dream come true on this. Thanks. Bye. .
As found on Youtube
Read MoreHow to Become Rich | Retire on $10 a day
Jason 0 Comments Retire Wealthy
Is it possible in this day and age to become a millionaire? Or perhaps the better question is: why would you want to become a millionaire? I mean, in the media today, millionaires—and billionaires for that matter—are often not depicted in the best light. Characters like Scrooge McDuck or the always supremely evil C. Montgomery Burns come to mind here. And of course, right now in real life, we have the ever-present Donald Trump as one of the main poster boys for the super wealthy. So, I suppose, with that kind of media influence hovering over us our entire lives, it’s not surprising that most of us have a fairly negative view of the super wealthy, and many really do not want to become a part of it. Especially since the majority of us don’t personally know anyone who’s super rich, we don’t have anything to really balance the scales, and all we really have to draw upon is what we see in the media.
And that’s really unfortunate because there are a lot of really great, wealthy people out there. But most of them are not in the public eye, and even the ones that are, like Bill Gates, don’t get as much media attention as someone like Donald Trump does. And as a result, there are a lot of misconceptions about millionaires and the wealthy in general. Hey guys, Daniel here from Next Level Life, and it recently occurred to me that I’ve been neglecting a huge part of what it takes to have that next level life that we all dream of, because whatever your dream life is, you need to have the financial resources in place first to be able to live it.
So with that in mind, I’m going to be starting this new series on my channel, covering various topics in the field of personal finance. And as you can see by the title of my first video in the series, I wanted to talk about a simple plan that, if stuck to, will practically guarantee your future millionaire status, as well as take a moment to really define what a millionaire is and is not. Because, believe it or not, even for the average American, it is possible. No, you know that possible is too soft a claim because it’s more than possible. In fact, if you follow a few simple steps, it’s almost guaranteed. Don’t you believe me? Well, hopefully over the course of this video as well as the rest of my personal finance videos that will be coming out soon, I’ll be able to convince you. So without further ado, let’s get started. What is a millionaire? A millionaire is simply someone who has a million-dollar positive net worth. Meaning, after subtracting debts and other liabilities and expenses, they have a million dollars worth of stuff leftover between their cash, their house, and all their other assets.
That’s really all there is to it. It has nothing to do with how much money you make. It has nothing to do with what type of person you are or how well-known you may be; it simply means that your assets are valued at least 1 million dollars greater than your liabilities. But how can the average American get to that $100,000 in positive net worth in their lifetime? I mean, at $100,000,000, that’s 6 zeros. I’d imagine that most of us have never written a check with more than three zeros. Unless of course you bought a new car or house with cash, and if that’s the case, kudos to you, you may not even need this video because you’re already probably well on your way to that million-dollar net worth. Now, I said that if you follow a few simple steps, you will almost certainly reach the million-dollar mark.
Let’s find out how. Well, I did a few calculations and found out that over the course of the last 40 years, the S&P 500 has returned an average of % per year, not including dividends. Now, technically speaking, past results are no indicator of future returns, but until we see the future returns, this is the best we’ve got to go off of. So assuming that over the next 40 years the market does roughly the same as it has since 1978, you could invest $2 per month over the next 40 years and become a millionaire. Again, assuming no dividends Now, 261 dollars may seem like a lot, but when you break it down, it’s not even $10 a day, and there are lots of ways to save money. You can cut cable, or go down to a lower internet speed, or not eat out quite as often, or use coupons when you’re shopping for groceries, or you can do none of those things and instead find a way to make a little bit of extra income.
Maybe you start mowing lawns or shoveling driveways on the side; maybe you start selling old clothes that you don’t need anymore online; or if you’re young, you might be able to start teaching people how to use social media better. You’d honestly be amazed at how many people would pay you to do that. There are a ton of options out there; all you have to do is pick the one or maybe a few that work out the best for you and start your own journey on the path to becoming financially independent. Now there are a couple of things that I want to clear up before ending the video for those of you who are a little bit more analytical in nature. That percent is the geometric mean rate of return that the S&P 500 has had since 1978, according to Yahoo Finance. All I did to get it was go through each year and look at where the market was in September, because as of the recording of this video, September just ended.
Then I put them all into the Excel spreadsheet and calculated the return. And I think the reason why we hear so many different rates of return thrown around by financial gurus is because of the inflation effect. I’ve heard gurus say that you can expect to earn anywhere from 6 to 10% per year in the market. And depending on what time frame and type of average you use, any of those numbers could be true. For example, if you go back to 1978 and use an arithmetic average, the average return on the market would be about percent per year. Inflation is generally assumed to be about three to four percent, so if you adjust for inflation, your realized return would be somewhere in that 6–7% range. If you don’t adjust for inflation, of course, you’re looking at a nearly 10 percent return. So there you go—there’s a simple formula for retiring with the amount of wealth that most of us would consider to be rich.
As found on Youtube
Read MoreTips for Retirement Planning
Jason 0 Comments Tips for Retiree's
This morning, we are talking about the word everybody loves to hear: retirement. Here to Help Us Make It All Possible Is Jeffrey. It’s Great To Have You Here Today. People go to work every day, and it’s something that they think about all the time, and you say there are several stages to retirement. In layman’s terms, there are Begogo Years, Slow-Go Years, and They Won’t-Goy Years.For many, it seems like a daunting task. How can people make this possible? Starting early is always beneficial, so even if you have not started planning yet, you will get started. Possibly a Certified Financial Planning Professional Go to the website and you can find one. The Planning Is Important, Especially For That Going Phase, Is That The Point Where You Are Just Starting Out And People Asked The Question, Do I Have Enough To Retire With? Am I Going to Be Ok? And then it’s all about the excitement and the planning. When we get closer to that point and I announce my intention to retire, one of my first thoughts is, “Where do you go?”What Is The First Thing You’re Going To Do? I Want Them To Be Thinking About The Fun Things.
Once we know our finances will be fine, we can start planning fun activities.We develop some plans where people have more money to travel with for the first five to 10 years, and after that, people tend to pull back a little bit. That Is The Slow-Go Years And The Final Phase When More People Are Focused On, What Do I Do With The Money I’m Not Going To Use? How Do I Transition To My Family In The Most Tax-Efficient Manner Possible? And I talk about that in my book.
The book has 30 years of information and is a nice, simple read. Because everybody works so hard all of their lives to get to the goal of retirement. In Retirement Is Supposed To Be Fun. You’re supposed to enjoy your life. Everybody Has A Different Perspective As To What That Is. Some guys want to go fishing every day. Some might want to do different things. Golfing, Whatever It Might Be Whatever is important. The most successful retirees we work with have a large circle of friends and a variety of hobbies to keep them busy.If you’ve been working 40 hours, that’s a lot of time. I’ve got another story about that. Lots of togetherness It Really Is the Dream for So Many People. If I’m Coming To See You, How Do You Put People’s Minds At Ease? You Have That Worry In The Back Of Your Mind All The Time. We try to keep things simple, but we have very sophisticated software that we use behind the scenes, and we actually show people results.
We could import all your details now: what is your lifestyle expense, what are the assets that you have, what is the income you will have coming in, and we have probabilities. We can do up to 10,000 variations between now and retirement with life expectancy, so we try to plan up to age 90. And We Say, Here Is Your Probability of Success. Thanks So Much For Coming In. If You Would Like More
As found on Youtube
Read MoreFactors That Can Reduce Retirement Income
Jason 0 Comments Retirement Planning
There are many different factors that can reduce retirement income. The first may be fairly obvious, but it’s the effect of death. For two spouses when there’s a pension involved, the death of a spouse could mean the loss of a pension income. Now if there’s a survivor benefit, that income may continue, so it’s important to evaluate your options when making pension decisions. A lot of people use insurance to protect against this type of income loss. Another way death can reduce retirement income has to do with Social Security. When two spouses are receiving Social Security and one spouse passes there will be a loss of one of the benefits. Now, the surviving spouse will receive the higher of the two benefits, but there still will be some loss of income. The final way that death can reduce retirement income has to do with taxes. Moving from married filing jointly to now filing single can push the survivor into a higher income tax brackets. The reason for this is that the income thresholds for married filers is about twice what it is for single filers. This can have a major impact on the surviving spouse’s net after tax income in retirement.
Taxes in general is another area that a lot of people overlook when it comes to retirement income. The reality is that taxes will take much more from you than the market ever can. For instance, going back to 2008 during the Great Recession, the average portfolio might have declined 20 to 30 percent, assuming it was well diversified, of course. That might have taken a couple of years to recover, but taxes in retirement can easily cost anywhere from 30 to 40 percent. And that’s money that will never come back. So it’s really important to consider where your different sources of income are coming from in retirement. Would it all come from pensions, Social Security, IRAs, 401(k)s, sources that will be taxed at ordinary income rates? Or do you have good tax diversification where you can choose from pulling money from maybe a Roth IRA raise or non-qualified accounts and really get a lot of control over your taxes in retirement? And finally, inflation. Inflation is absolutely something that can reduce your income in retirement. And it does this by reducing the purchasing power of your dollar in retirement.
Inflation isn’t just something that happened in the past – things will continue to cost more in the future. So let’s look back 30 years. 30 years is about the average timeframe for most people in retirement. So in 1989, the average cost of a first class postage stamp was twenty five cents. Today that same stamp will cost you fifty five cents. Also in 1989 the average cost of a new car was $15,000. Today the price of a new car will set you back on average $37,000. So you need to look at how well your different sources of income will keep up with inflation during retirement. For help optimizing your retirement income, visit us at PureFinancial.com. .
As found on Youtube
Read MoreFinancial Planning – Watch This Before You Start Financial Planning!
Jason 0 Comments Retirement Planning
Have you ever think of this question what would happen if you are hospitalized unexpectedly due to an accident or a sickness and You lose the ability to make money. Could you continue to pay your bills? If you couldn’t then I know exactly how you feel There’s nothing more frustrating than your hard-earned retirement saving has to depleted and to make matters even worse you increase your debt load Frustrated and embarrassed you end up feeling like a failure because all your plan that your so-called financial Adviser helps you set up the plans all are ruins Unfortunately, there just hasn’t been a quick and easy alternative to just put aside more emergency funds at least three to six months where everyone seems living paycheck by paycheck however, the problem with these options is that you either have to put in more time to learn more extra income by doing more than A job or reduce your spending habits to scarify your lifestyle expenses That’s why today I’m delighted to share with you the program that I just found out have the solution to help you pays your bills When you cannot work due to accident and sickness, hi, my name is Moses tan and over the last five years I’ve personally helped people to protect their ability to make pays their bills in their retirement plan And with this new program you are getting cash benefits paid directly to you as you wish to help pay unexpected expenses or everyday bills What makes this new program so different to all the other out there is there are no companies are offering this service in the market Let me show you a sneak peak how this program works When you have an accident or suffer sickness You shouldn’t have to worry about how you’ll pay for added expenses or everyday bill this program pays you $3,300 direct to you if you stay in the hospital a day up to $6,000 if you stay in the hospital for five days up to $12,000 if you stay in the hospital for 10 days up to $36,000 if you stay in the hospital for 30 days This program also covers you if you have outpatient surgery or fracture each outpatient surgery or fracture incident you get pays up to $5,200 even if you have a root canal or a stitch you get pays for $1,300 it pays cash directly to you in addition to benefits provided by any other insurance policy group planned workers Compensation or any government employment insurance program Jamie a married mother of two said earlier this year I became extremely sick and missed work.
For more than three months putting my family in a very difficult financial situation She was so lucky to have this program because we would have been on the verge of being homeless due to her illness. She Was out of work for more than three months But this program was there for her and her family the whole way with prompt handling of her claim and the arrival of her benefit Checks this program made a really horrible time a whole lot easier for her and her family Raylene an individual said I was connected with a very helpful the planned customer service representative. He explained in clear detail What needed to be done to complete his claim not only by him? But also by the plan that representative acted with professionalism kindness and respect for him and his situation He had his first claim check in about one week The representatives dedication as an employee of the plan was invaluable.
Are you ready to get started in that case? I’m guessing you’ll want to know what your protection is going to be and That’s understandable given that most people on average spend hundreds of dollars to get a fraction of what you’re receiving today so if you’re ready to make a change in your life and you want to protect your retirement text Moses Town at six hundred and Four point four for one point nine to eight – or email info at living benefit CA we will contact you as soon as possible Remember, could you pay your bills while you need the money the most when you in a hospital due to accident or sickness? The good news is that you can trust us to take care of all your bills simply by becoming set up the plan today Just imagine how you’ll feel.
When you get to pay to get well at home. You can enjoy watching Netflix without worry about your bills so text Moses tan at six Oh, four four four one nine two eight – or email info at living benefit CA and let’s get you started today Looking forward to hear from you .
As found on Youtube
Read More5 Easy Tips To 💰Save Money💰…Money Saving Hacks
Jason 0 Comments Tips for Retiree's
I’m going to do a video on 5 simple things you can do to help your financial situation and I realized that I need to do a follow-up to the retired at 40 story video because there’s a huge need for financial education in this country and really everywhere it pertains to every single person doesn’t matter what your financial status is you can always use help and there’s always little tip tips and tricks that and things that you can do to better your status it always amazes me how scared people are to talk about their finances to put something on paper to basically take a look at where their money is going what’s getting saved and how everything is getting spent and I’ve met people time and time again that are highly educated very smart people but they know nothing about finances and they are terrible with money management so before we get into the 5 tips I want to strongly urge you to make a financial statement for yourself figure out where your money is going currently and figure out how much you’re saving and basically figure out where you can trim the fat for so many people a financial statement or just finances in general is like a bad word they’re just terrified of it but the only way that you’re gonna be able to improve your finances is to face the music alright so now that you’ve had a chance to go through your financial statement you definitely know where your money is going but how can we save more and what you really need to aim for is about 6 months of reserves especially if you’re getting ready to invest money into something or if you’re doing some kind of career change or some life-changing thing and all of these five tips will more than likely be a line-item on your financial statement so let’s go to financial tip number one hey I’m going to have to call you back I’m shooting a video right now so this first thing is something that we’ve all become very very accustomed to in the last 10 to 15 years and that is a cell phone and people tend to spend absurd amounts on their cell phones whether it’s the bill or the cell phone itself mainly the cell phone itself so that’s my first financial tip is shop on eBay or Amazon for a cell phone that’s refurbished or used or one this may be just a couple years old I actually just purchased a cell phone on ebay because I’m having trouble with my current one and I got on to my cell phone providers website and the most expensive phone that’s like mine now is $1,200 that’s insane to me so I got on eBay I found one that’s similar to the one I have right now it’s new but it’s a couple years old and I got it for less than $200 another thing that you can do is ask for some kind of loyalty benefit from your cell phone provider cell phone providers are constantly trying to earn your business and if you’ve been with them for a long time and you can convince them to keep you around by offering you some kind of benefit they’ll jump on the chance just by going into my provider recently I have a cell phone bill that was about a hundred and ten dollars a month I told them that I’ve been with them for close to 15 years they knocked it down to sixty-seven dollars and I have unlimited everything now tip number two is what I call going to youtube University or getting a YouTube education we live in the most amazing time ever right now there is information everywhere and it’s so easily accessible don’t ever stop educating yourself it’s so easy to find out how to do things these days you’re doing yourself a huge disservice if you don’t take advantage of that so how does that pertain to saving money well you can save money by doing tons and tons of things yourself instead of paying someone else to do it just look at the platform that you’re watching right now for instance you’re watching a video on how to do something so that how-to can be anything from changing brake pads on your car to changing the oil on your car to fixing a leaky faucet or the toilet flapper not working on your toilet all the way to how to the meal which brings me to my next point number three so food is a necessity in life but is it a necessity to go out to eat or go to Starbucks once or twice or every day the amount of money that people spend on food and going out to eat fast food Starbucks McDonald’s it really adds up quick and I don’t think that people realize how much money they’re actually spending on it because it’s just five or six or seven dollars here and there but if you add that up over the course of a month or a year or five years or ten years I think the result would be pretty staggering cook your meals at home pack your lunch for work make that fancy coffee at home it’s not that tough to do there’s so many great ideas and resources on YouTube and Pinterest and vlogs and blogs this channel included if you need a place to start scroll through my channel I have lots of cooking videos if you want to take that a step farther you can start growing your own food and if you don’t have a big green house like this you can grow a lot of food just in five gallon buckets even on a little deck if you don’t know where to get started see tip two number four is something that really hits home for me because me and my wife are both self-employed and we have been for 15 plus years so number four is insurance and although I don’t like insurance companies because I think they’re a giant scam it’s a necessary evil and you can also use that to your advantage you can put them against each other insurance companies much like cell phone companies are begging for your business and they’re constantly trying to outdo each other with with certain benefits or promotions so make them put their money where their mouth is and put them up against each other constantly and not just insurance companies you can do this with all kinds of different companies you should always be price checking these companies the ball is in your court make them earn your business all right I’d saved the best for last tip number five is taking advantage of bank account and credit card bonuses and this tip is begging for a separate video all on its own because I could go on about this for a long time but if you’re not taking advantage of credit card bonuses for sign ups or credit card cash back or travel miles or if you sign up for a bank account a lot of them will give you a large sum just for putting your money with them now I want to be clear I’m not promoting just going out and spending a bunch of money on a credit card but more putting the things that you already spend money on into the credit card it’s money that you’re spending anyways put your mortgage on a credit card if you can insurance is a good one it’s not super expensive but at least we’ll get you a couple hundred bucks on your credit card unless of course it’s health insurance and then you’re talking in my case thousand to twelve hundred dollars a month here’s another good one groceries it’s something that you always have to have and depending on how much you go to the grocery store it could add up to three or four hundred bucks a month sometimes six hundred maybe even more no-brainer here put your gas on a credit card you can always put your utilities on your credit card too if your utility company will allow it next from tip one your cell phone bill now depending on how much some of these are and if you are allowed to actually put them on your credit card you’re talking some pretty major money that you can get a bonus from if you’re getting two percent cashback that really adds up not only that but you’re increasing your credit score while you’re doing that so as long as you’re financially responsible and you pay this every month you’re reaping a large benefit a lot of credit cards will give you a 2% cashback they’ll give you a $500 signup bonus that’s free money in my opinion the free bank bonuses or even better than the credit card in my opinion because the bank account is something that you have to have anyway a lot of them will give you $500 for a small deposit as long as you put your direct deposit with them all the way up to I’ve seen $1,000 before and if you have a little bit more money to play with some of the online money market accounts like Capital One will pay you up to 2% or some even up to 2.5% just for keeping your money with them so some of these things may not seem like it’s saving you a ton of money but when you take up those extra fives and tens and occasional hundreds and you put them to work for you as opposed to something that you’re normally spending you’re not only saving the money because you’re not spending it but you’re putting it to work and doing something else with it and you’ll find that your your finances will start to collect very quickly so if you found the video helpful and you enjoyed the content take a second to give me a thumbs up it really helps out the channel and it helps the YouTube algorithm get this video out to people who actually need to see it also don’t forget to subscribe we do some gardening some frugal living some food preservation and cooking some gardening and you get to join me and my family on our retirement at the age of 40 after you’ve clicked subscribe click the bell notification also and it will notify you every time a new video comes out and it’ll keep you in the loop of the community all right I appreciate you sticking with me through this whole video so I’m gonna give you an extra bonus tip with an extra 100 or 200 or 300 or more dollars per month that you’re saving with just cutting back on a few things you take that extra money and you pay down debt with it the faster you get out of debt the closer you’re going to become to financial freedom and whenever you’re paying off debt always choose the smallest balance first because it gives you that extra little boost and if you can pay it off faster it gives you that extra bit of confidence to rock into the next one so once you’ve paid down your smallest debt move on to your next smallest debt take that money that you’re saving from the smallest debt that you’re not having to pay any more and add it to the money you’re saving from the 5 tips that I’m giving you and apply it to the next smallest debt and when that one’s paid off you roll it into the next one you roll that one into the next one and so on and so on in the meantime this is retired at 40 check out these other helpful videos if you have a minute remember to live a life simple and we’ll catch you next week oh hey I’m gonna have to call you back and shooting a video right now this is right my god get out of debt
As found on Youtube
Read MoreHow to Retire Early: The Shockingly Simple Math
Jason 0 Comments Retire Wealthy
Hi, my name is Phil. I’m a video creator and online instructor. I’m also a personal finance nerd. Because of that, I want to create a series of videos that breaks down some of the most mystifying topics that plague our society. In a world where people’s finances are typically locked away and not-talked about, I believe opening up the gates of financial conversation will help everyone live a better and smarter life. In this first video, I want to explain the shockingly simple math behind early retirement – thanks to one of my biggest heroes, Mr Money Mustache. While the ability to retire may seem like a distant and unreachable goal for many, the premise comes down to one thing. You need to invest money so that it earns more money.
This could be investing in stocks or bonds, real estate, or any other of investment vehicles. As soon as your investments earn enough money for you to live on each year, you are able to retire. Let’s break it down further to know when you can retire. The most important concept is knowing your savings rate, basically how much you make minus your expenses. If you spend 100% of your income, you will never retire… because you will never be able to invest any money that earns money for retirement. If you spend 0% of your income, you can retire right now… because somehow you are living without needing to make any more money. Between 0% and 100% are a number of savings rates that correlate with the years it will take to retire. For this, let’s assume your annual investment return is 5% (which is conservatively low) and your withdrawal rate is 4%… meaning you spend 4% of your net worth each year.
For example, if you have a $1,000,000 net worth, and you live on $40,000. If your savings rate is 10%, you will be able to safely retire after years. Safely, meaning you will never run out of money. If your savings rate is 25%, you can retire in years. 50%, you can retire in years. And if you can somehow save 75% of your income, you can retire in years. Now getting to that savings rate might not be easy in our world of societal pressures, keeping up with the Joneses, and bad habits. But you can get closer by making smart decisions, avoiding debt, and living simply. The key take away is… Cutting your spending rate is way more powerful than increasing your income because no matter how much money you make, decreasing your spending will speed up the process. A note, The math behind early retirement works if you are working a minimum wage job or a 7-figure CEO salary. It’s all about the savings rate. So if you want to retire in 10 years, the math tells us that you need to save 66% of your income. Now there is a lot that I didn’t talk about – like how to invest, and how to cut expenses to get to a high savings rate.
Those will come in a future video. For now, get excited about the honest truth about retirement (and early retirement at that!)! Let me know what you think in the comments below? Is this exciting or bogus? Until next time… start being money smart. .
As found on Youtube
Read More
Recent Comments