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Retirement Part 1: Why have a retirement plan?

in today's presentation retirement part one why have a retirement plan we will discuss the benefits of offering a retirement plan for your child care business the information contained here has been prepared by civitas strategies and is not intended to constitute legal tax or financial advice the civitas strategies team has used reasonable efforts in collecting preparing and providing this information but does not guarantee its accuracy completeness adequacy or currency the publication and distribution of this information is not intended to create and receipt does not constitute an attorney client or any other advisory relationship reproduction of this information is expressly prohibited whether it is just for you as the sole owner or for a large center with many employees retirement is an increasingly critical benefit for child care businesses there are three key reasons to start your retirement plan having enough money to retire retaining your employees including yourself and keeping your hard-earned money having enough money to retire takes a great deal of saving Financial experts estimate that most individuals will need up to 80 percent of their pre-retirement income to maintain their standard of living once they stop working that means if you are making thirty five thousand dollars today you will need to have twenty eight thousand dollars a year every year from when you retire onward however the average benefit paid by the Social Security Administration is only fourteen thousand four hundred dollars a year leaving a large gap for many people to retire comfortably fastest way to get the savings you will need relies on compound interest where the money you make on your savings is reinvested here's how compound interest works let's say you decided to have one less Mill out a month and you put that fifty dollars into your retirement savings instead let's also assume you have six and a half percent interest rate which is the average for 2022 for retirement accounts in the first year you will have saved six hundred dollars and made 18.20 in interest now in the next year you have 618 dollars and 20 cents in savings your original six hundred dollars plus the interest of 18.20 and with interest and the monthly contributions you'll end the year with 1277.81 cents as this continues over 30 years you will have saved eighteen thousand dollars and accumulated thirty seven thousand three hundred eight dollars and ninety cents in interest for a total of fifty five thousand three hundred eight dollars and ninety cents because retirement savings is critical and can add up over time it can be a great tool for retaining your staff in a Morgan Stanley 2022 survey ninety three percent of employees consider retirement programs a draw as they decide where to work having a retirement Savings Program can help you keep the employees you have and attract new ones in this competitive labor market remember this also includes yourself if you are the sole owner and employee you need a retirement plan too and many child care providers have been tempted to leave the profession for other jobs with retirement benefits by providing yourself with the benefits you need you can stay in child care and prepare for your future a key benefit of business retirement accounts is the opportunity for business contributions or matches where the child care business makes additional retirement contributions or matches employee contributions to the employee's retirement as we will discuss further in the next section most plans allow or even require companies to provide some contribution to the employee's retirement these contributions can be a set amount a percentage of the employees compensation or a match which means that the employer will contribute the same amount that the employee contributes often up to a certain percentage for example an employer may offer to match the money contributed to a retirement account up to three percent of the employees salary this could mean that for a person earning thirty thousand dollars a year and contributing nine hundred dollars annually which would be three percent their employer would also contribute or match the nine hundred dollars increasing the total contribution to eighteen hundred dollars this match is essentially free money for the employee and is an incentive for employee retention since they are getting additional funds beyond their regular compensation however the money is oftentimes not available until the employee is vested vesting is the time it takes for the business portion of the retirement account to be fully owned by the employee and can vary from business to business es can choose for employees to become vested upon hire or require that they are employed for a certain amount of time up to six years to become vested for example let's say you make a six hundred dollar contribution in 2022 and you have a three-year vesting schedule typically that would mean if the employee left your business at the end of 2023 they would only have one-third or two hundred dollars the rest would return to the business because in this case they would be considered partially listed if they left at the end of 2024 still only partially vested two-thirds or four hundred dollars would follow them it wouldn't be until the end of 2025 that they would have the full six hundred dollars if they changed jobs as at that point they would be fully vested implementing a vesting period can also encourage employees to remain employed at your child care business so that they are able to access a hundred percent of the employer contributions to their retirement most business contributions are on average 4.3 percent of the employee's annual salary however there are a few additional considerations first you should check what other child care providers are offering in the area a retirement contribution is like any other form of employee compensation you want to keep up with or even surpass the other businesses in the area so employees don't leave turnover can be costly an estimated 1.5 to 2 times an employee's salary according to LinkedIn when you factor in the time needed to recruit and hire for the open position overtime hours needed from other employees to feel the Lost capacity and the time and cost of onboarding regularly checking on the retirement Plans offered by other area providers can help you keep your staff and reduce the cost of turnover second the majority of employers in the U.S if their retirement plan allows it opt to require matching and vesting a match means that an employer will contribute only if the employee makes one as well typically matches are 50 percent of the employee's contribution to a certain level for example let's assume an employer has a 50 percent match for up to three percent of the total salary if an employee makes thirty five thousand dollars and contributes three percent of their salary for retirement that is one thousand fifty dollars the employer will only contribute 525 dollars further employer contributions are often vested where possible vesting is the amount of time it takes for an employee to entirely own an employer match or contribution to their retirement usually this is based on how long they continue to work for the business as an incentive to stay in our example above if the employee had to wait three years to be vested and left after two years they may just get a portion of the employer contribution so maybe 75 percent of the 525 dollars through regular contributions and compound interest this becomes a great incentive for employees to stay with your business finally you can keep more of your profit through retirement savings between the tax benefits and potential credits from the federal government there are savings for employers and employees There's an opportunity to save in three ways contributions your business makes to the plan and the cost of maintaining it are deductible even if it is just for yourself retirement plans are tax favored and retirement contributions can get you tax credits contributions your business makes to the plan and the cost of maintaining it even if it is just for yourself or deductible this will cut the amount of Revenue taxed by your business which also lands on the personal income tax return retirement plans are taxed favored that means that the government gives you tax benefits to encourage you to save some retirement uses pre-tax money this means that the money you put in now is taken out of your income so it isn't taxed today however whatever money you make in the account over the increased value of the investment will be taxed so for example the five thousand dollars you invest in a SEP IRA today won't be taxed but the additional fourteen thousand three hundred and fifty dollars you may gain over the next 20 years in investments will be when you retire retirement contributions can get you tax credits specifically the Savers credit and the retirement plan startup costs tax credit the Savers credit is a non-refundable credit available to adults over the age of 18 who are not dependents of someone else or students the program will give you a credit worth up to fifty percent of your contributions to your retirement up to one thousand dollars in credits if you are married and have an adjusted gross income less than seventy three thousand dollars you are a head of household making less than fifty four thousand seven hundred and fifty dollars or single and making less than thirty six thousand five hundred dollars remember your adjusted gross income is typically less than your total income so even if your salary is higher than the limit you may still qualify the retirement plan startup cost tax credit is open to employers who have retirement plans that include W-2 employees who are not owners the credit was just updated in December of 2022.

if a business has 100 or fewer employees this credit covers up to five thousand dollars in administrative costs for the first three years of a new 401K 403 b profit sharing SEP IRA or simple IRA plan additionally businesses was with less than 50 employees can get a credit of up to one thousand dollars per employee in the first year of the plan for contributions they make for employees who earn less than one hundred thousand dollars this credit continues for three more years with the credit decreasing by 25 percent in each subsequent year so if you had an employee making thirty two thousand dollars a year and you contributed one thousand dollars a year to their retirement over five years you would get a total credit of two thousand and five hundred dollars let's look at two examples of how these savings can benefit you kashana is a family care business owner and sole proprietor who made thirty eight thousand dollars over the course of the year she put two thousand dollars into a simple retirement account we will cover the types of plans later in part two of this guide the two thousand dollars will save her three times over first she will save 15.3 percent in self-employment tax and 12 percent in income tax for a total of five hundred forty six dollars second she qualifies for the Savers credit so she gets a tax credit for 50 percent of the contribution in this case kashana has two thousand dollars for her retirement and after the money saved and the credits the cost to her was only 454 dollars Estelle has a center with 15 employees and she decided to use some of her stimulus money to start a 401k her business is an LLC that declared to be treated as an S corporation so the profit goes on to her personal tax return which is taxed in the 22 percent bracket still contributes at five percent of the salary of each employee one thousand five hundred sixty dollars per employee for a total of twenty three thousand four hundred dollars between the fees and the cost of her time to set up and have her bookkeeper help her with the 401K she paid 2 550 dollars between her contribution to the retirement and the administrative cause Estelle paid a total of twenty five thousand nine hundred fifty dollars however Estelle was able to save money in three ways first since the 401K is new she gets 100 percent of her administrative costs back that's two thousand five hundred fifty dollars second since our employees make less than one hundred thousand dollars she can get up to a thousand dollars for her contributions per employee for a total of fifteen thousand dollars this is a total of seventeen thousand five hundred fifty dollars in tax credits third she gets the deduction for the contributions and administrative costs which saves her another five thousand seven hundred nine dollars all in all Estelle's benefit cost her twenty five thousand nine hundred fifty dollars but she saved or received credits for a total of twenty three thousand two hundred fifty nine so she really only spent two thousand six hundred and ninety one dollars plus a stale can share information on the Savers credit for her employees so they will receive their tax credit and greater benefit setting up a retirement plan through your business will help you and your employees prepare for a successful retirement provide additional retention incentives and help you save money in the long run to learn more about selecting a retirement plan see retirement part two how do I choose the right retirement plan thank you for joining me as I mentioned stay tuned for part two of this guide and if in the meantime you are interested and other helpful resources information or guides visit childcare.texas.gov to find these on various topics in both English and Spanish there you can also sign up and register for free one-on-one business coaching

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Retirement Planning Home

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I Turned This Cash-Only Savings Hack Into An $850K Business

I just remember, like,
wondering how I was going to make it through the
next month. Like had a degree, no
job, student loan debt hanging over my head,
credit card debt hanging over my head. And
January 1st came and I was like, I will never
be in this position again. And that's when I
started researching ways to budget and I found
cash budgeting. I started budgeting at
the beginning of the year and started throwing it
on social media to keep myself accountable. I started the business
after my tiktoks went viral. I was like, okay,
well, people are actually interested in this
because finances come off really boring to me and
for some reason people were engaging.

internet will be receiving $20. My name is Jasmine
Taylor. I'm 31 from Amarillo, Texas, and my
business brought in over $800,000 last year. You implement cash
stuffing with it by budgeting the money
literally and physically with the cash. So that
means you start to budget with whatever your
paycheck number is and you give every dollar a
place down to zero. The first product we
sold was just a simple budget binder so you
could buy a binder, pick your cover, add your
name, and then choose six categories. And then we
moved on to adding in different savings
challenges. This one's pretty cute with the
piggies and the wallets, and I also like fries
before guys, we are out of stock a lot and out
of stock on our website doesn't mean that we're
out of stock in our warehouse. We stock enough items
that we can pack and ship out that same week. People are literally
waiting on the site at midnight on Saturday
night like waiting for the restock. Last week,
our $1,500 savings challenge sold out in
like six minutes.

I honestly didn't have
any expectations. I just went into it
hoping that I would make my money back. But I had
no idea. Even to this day,
sometimes I wake up and I'm like, What is
happening? I believe that my mindset changed in
December of 2020. I had just got through
Christmas and my sister died probably four years
previous, so I've been full time taking care of
my niece that works with me now. I was working at
the freestanding emergency room and then
I lost that job actually over the holidays. When you finally get
access to money, at least in my circumstance,
everything I wanted, I wanted to buy it. I have
bipolar disorder. So at the beginning of
my journey, I understood that a lot of my impulse
spending was tied to that.

I started tracking my
expenses and being really diligent about budgeting
and cash stuffing. I was not only able to
change my finances, but I was able to change my
mindset and my relationship with money. I have a bill checking
account. Right? So in that
checking account, there's already next month's
bills. So when you see me cash
stuffing on camera, that's for the next
month. So the first day of the
month, I go and deposit everything I've cashed
up into the bill account. And as the month goes
on, everything is direct deposited. The first
time I had been able to save $1,000, like I'd
never been able to hold on to $1,000. It really empowered me
more than anything else was. Okay, well, you did
that. What else can we do? It went crazy viral. And I was like, well,
I'll be back tomorrow with another one. I knew the stimulus
check was coming and I literally just went for
it. And so I went and bought
me a cricut and I bought the supplies for the
cricut, the mats and stuff like that.

And I
put the rest into inventory, into
purchasing my Shopify plan for the next couple
of months, some shipping supplies and that's it. It was pretty much gone. So in February of 2022,
I realized we needed help. We were working
like 18, 19 hour days trying to get custom
orders out, and we were burnt out. And it got to
the point where I couldn't hardly restock
the site because we couldn't keep up with
the orders. Right now I have three
contracted employees and they do crafting, so
they help me make envelopes. They help
make savings challenges as well as one of the
ladies comes here and she helps me pack orders
because we're now packing 700 – 800 orders a week
and it is pretty tedious. For example, our
customers can pick the cover that they want and
then they customize the envelopes inside to fit
their needs. So different people
choose different titles. You can pick the color,
the font on the envelopes. Monday
through Friday I pretty much come in admin,
catch up on anything that's happening that's
crazy that I need to fix.

We go to the back pack
orders, unbox inventory and we do that until 8
or 9 and then I come up here and if I'm going to
do lives or whatever, I do those if I need to
film YouTube content, I'll do that. Saturdays
and Sundays we all come in and we heavily pack
orders. A lot of the income that
I was making. I was very diligent
about throwing it towards debt. I invest some in
my future and the form of a 401K, pay my bills
with it, give myself spending money and put
some towards savings challenges.

So the same
stuff that I teach my audience I still use in
my daily life. We don't have an issue
bringing in customers. Our issue is honestly
that we can't fulfill more orders. We are shooting for $1
million at the end of 2023 and we are going to
get it. I'm believing that we're
going to get there. I've never had a problem
betting on myself.

You've got to be willing
to bet on yourself. If you don't how can you
expect anybody else to?.

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401K to Gold IRA Rollover

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11 Things That Will Destroy Your Wealth

Money has always been like a love affair, too 
sweet if you're smart enough not to get caught.   But if you also make one small mistake, it could 
turn sour quickly when your partner discovers your   infidelity. Just like money, if you're smart with 
it, you'll enjoy the benefits of always being in a   stable position in your life. Mistakes, no matter 
how minor, could lead to the destruction of the   wealth you worked so hard to create. Here are some 
of the things you probably didn't know that are   destroying your wealth.
11. Gambling  The number one rule in gambling is that 
the game is always in favor of the house.   No matter how close you feel you are about to win, 
please resist the urge because it is just a scheme   to milk money from you. You might be playing on 
the slot machines or card games, and you are on a   winning streak. In the long term, the house will 

It’s a well-planned illusion while at the   casino, as they want to have you there for as long 
as they can. They will offer free refreshments   and the environment itself will trick you with its 
nonexistent natural light, making you unable to   tell the time. Our addicted brothers and sisters 
lose more in the gambling dens, ranging from about   55-90 thousand dollars each year. That’s enough to 
start a business that will sustain your lifestyle!  10. Cars
These raving beasts are a sight to behold,   and it's even better when you own one or two of 
them. However, don't be too quick to spend your   money on acquire such an asset.

This is because 
it comes with a lot of baggage that will surely   destroy your wealth. Why? Well, buying a new 
car will have you paying extra monthly or   yearly charges to maintain it. This ranges from 
car insurance, car payments, finance charges,   and down payments. And we haven't even included 
the amount of fuel you need to run your errands   daily and the parking fee.

This will add up to 
roughly $450 a month on top of the 35,000 used   to purchase the car if it was new. Maybe you 
thought that it would be a smart move to buy   a used car instead of a new one, which would have 
cost 20,000 dollars. Sure, you saved a few bucks,   but the fact is that you just bought yourself 
a liability that depreciates every single day.   The stats show that a new car depreciates 15% 
in the first year of driving it. Thereafter,   it decreases a further 15% each year. So, if you 
wanted to sell the same car three years later,   you'd only get $10,000-18,000 for it. Now that car 
dealership isn't looking all that enticing, right?  9. Debt
Don't get me wrong. Debt isn't always the enemy,   as it can help salvage a failing business, or even 
create an outstanding income-generating stream if   well thought through.

I'm talking about student 
loan debt and credit card debt. These two are the   most well-known American dream slayers, with up 
to 1.6 trillion in student debt alone in the U.S.   Stay away from the fascination of going to a more 
prestigious university than you can afford. It   forces you into debt that will take a good amount 
of time to pay off, instead of opting for a local   university that will take you in for a cheaper 
price. You could also look into getting grants   and student scholarships. Coupled with student 
loans, a majority of students find themselves   deep in credit card debt after spending their 
entire college years purchasing on credit the   things they can't afford with cash. These debts 
are carried to adulthood, leaving many shackled   to massive debt. Despite getting a handsome 
paycheck at the end of the month, many end up   broke because a large portion of that income is 
spent on repaying all the debt they have accrued.  8.

Financial illiteracy
Alan Greenspan once said   that the biggest problem in today's generation and 
economy is the lack of financial literacy. It's no   wonder many people are finding themselves deep 
in debt and stagnant despite having well-paying   jobs. No person is interested in learning about 
money management. They'd rather just wing it when   it comes to their finances, not knowing that 
financial knowledge is powerful. We simply   think that we can duplicate what other people 
are doing, and our money bags will be fuller.   Sorry to be the one to tell you this, but your 
finances are as unique to you as your fingerprint.   There is no ‘one shoe fits all’.

You have to learn 
to balance what you spend on versus how much you   earn. to come up with the most workable budget 
for you. Learn about accounting and investing.   This kind of knowledge will be beneficial in 
the long run. Whereas a lack of it will destroy   your wealth more than you acquired it.
7. Fashion  Gucci bags, Louboutin shoes, a Rolex watch all 
to try to make a good first impression. Stop it,   please, you don't need to have the 
most expensive suit in the room to make   an impression. All you need is a 
normal-looking one that's crisp and clean.   Brush your teeth and maintain a good hygiene 
season with some charisma and personality.   You'll have everyone in the event looking 
for an opportunity to interact with you.

We can all attest to doing all this clingy, 
dressing just to keep up with the Jones.   But we end up looking rich outside while 
our bank accounts are screaming for help.   It costs more to buy a 200$ bag that you carry 
only once instead of buying one versatile one.  6. Eating out
Did you know that   you probably spend around $3,000 a year just on 
take-out? That's five times the amount you'd have   spent if you'd cooked the food yourself.

get me started on the amount of time you wasted   waiting for your delivery to get to you. Or how 
long it takes to pick up the delivery yourself.   You'd be saving a good amount of cash every month 
by cooking your meals at home. You can stash this   money away in your emergency fund for a rainy day. 
Doing this not only saves you money, but allows   you the opportunity to have a hot meal every day. 
You can watch how many calories you're eating.   You can even personalize your meals as much as you 
want without the worry that the restaurant will   forget to add extra gravy again.

it's healthier to make that dinner yourself.   Don't fall into this money trap and have your 
wealth robbed from you as you sit by and watch.  5. Wrong relationship
Being in the wrong relationship might   just cost you a fortune in your finances. 
Up until today, you probably didn’t know,   but statistics prove that the average man 
spends close to 120,000 dollars on dates.   A wedding costs about $34,000 to plan, with 
an additional $6,000 for an engagement ring.   Can you imagine spending this much only to 
be hit with divorce papers? Quite expensive,   don’t you think? A survey carried out has shown 
that millennials getting into marriage secure   themselves by signing a prenup in case things fall 

In that case, they’ll walk out of someone’s   life with something in their pocket. I don’t know 
whom it might concern, but you better be keen when   getting into relationships because the wrong 
relationship will not only cost you emotional   grief but will also dent your wealth. The 
average marriage that works out in the US is 50%,   so it’s important you know this before venturing 
into it blindly. This means that if you flip a   coin, you’ll be able to predict whether your 
marriage will work out or not. In the case   that things don’t work out for you, it costs an 
average of 13,000 dollars to facilitate a divorce,   not forgetting other expenses such as alimony 
and child support that would be on your back.   Without a doubt, we better invest smartly to 
avoid these blunders that will destroy our wealth.  4.

Shopping has turned into a famous   trend all over the world where once someone makes 
some small amount of money, all that runs through   their mind is how they’ll swing by the mall and 
shop till they drop. We should be very precise in   our shopping and it would be better if we tagged 
along with a shopping list to avoid the temptation   of overspending. A close look at this will help 
realize how much money is lost in thrift shops   and shopping malls. All these shopping sprees 
eventually lead to debt, and even more debt   if you aren’t keen enough.

Can you believe that 
the average credit card debt stands at $57,008?  3. No emergency fund
Living without an emergency fund   is like going hiking and choosing not 
to carry an extra bottle of water.   because the instructor said that you'd be back 
from the hike in 6 hours. Only for you to end up   dehydrated because your only water bottle fell off 
a cliff. The point here is, life is unpredictable,   it's so important to have an emergency fund ready. 
There isn't a standard amount of money you need   to keep for any emergencies. Some say that you 
need to have saved triple your monthly income   while specifying a certain amount. However, we 
are sure that not having an emergency fund will   leave you broke in the event of an accident or 
calamity. You'll be forced to pay out of pocket   or max out your credit to shelter yourself.

will, in turn, lead to several financial strains   unfolding in your life. You'll be left wondering 
where your whole salary is disappearing to.  2. Alcohol
Some claim that a little wine every   day does more good than harm. But have you ever 
sat down to think about the financial implications   that are associated with drinking? You're lucky 
if you drink just a little, because heavy drinkers   are suffering out there. In 2018 alone, people 
have already downed more than 6.3 gallons of beer   and 900 million gallons of wine. Do the math, and 
you'll be stunned. Even more shocking is that the   wealthy and those who are well educated are the 
ones partaking in this joyous affair. Be smart   to avoid this other money trap, because we've 
all heard those stories. The ones who were once   at the peak of their careers, both in title and 
income, end up losing their jobs because they   go out drinking way too much.

Reporting late 
to work or even delivering inaccurate reports   such a waste of good talent don’t you think?
1. Jewellery.  Hip-hop has a firm grip on the dress code we 
wear, as well as the bling and glamour that   adorns our outfits. You’ll see little to none of 
these celebrities without some dope iced-out chain   or a gorgeous Rolex watch worth millions. Take a 
look at Lil Wayne. For instance, he owns a pinkie   ring worth two thousand dollars and Rick Ross’s 
custom-made chain worth 1.5 million dollars!   Practically speaking, owning such things may 
destabilize your wealth. Did you know that   jewellery is a depreciating asset? Probably not, 
so next time you invest millions in jewellery,   you better take a moment to critically assess 
your decision. Even if you purchase top-shelf   jewellery, it won’t bring back as much as you 
invested, even if you resell it after a day.   Jewellery is merely a status symbol that 
you really won’t need to spend cash on.   At the end of the day, the amount of wealth 
you are worth is not calculated by the gold   chain on your neck.

Be smart. One 
last question before we wrap up:   What will you do when you are given ten thousand 
dollars in cash? Let us know down below. Well folks, thank you so much for watching. 
If you enjoyed the video, give it a thumbs-up,   and if you’re new here, welcome and 
subscribe for more content like this.   With that said, have a great 
day, and see you in the next one..

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45+ and Have NOTHING Saved for Retirement?

The other day, I was catching up with an old 
friend and I realized we'd been friends for   27 years. I never thought I would have a 
friendship that long, but that's how life   works. The older you get the faster time seems 
to fly by. And when retirement is looming,   well, boy, does it start to speed up! So, if 
you haven't started saving for retirement,   don't panic. It is possible to start saving 
when you're 45, 50, even 60, and still be   able to retire, but you have to treat it like 
the house is burning down. So pay attention. I'm Britt Baker, co-founder of Dow Janes,   and today I'm giving you seven steps 
to catch up on saving for retirement. First step is to get real about your 
current situation. How much have you   saved for retirement so far? How much will you 
get from Social Security? Plug those numbers   into a retirement calculator to see how much more 
you need to save each month to be able to retire.

The next step is to start saving dramatically. 
If you're 50 and you haven't saved anything for   retirement, and you wanna be able to retire, 
you need to start saving and investing 50%   of your income each month, which means that 
you're probably gonna either need to reduce   your cost of living or increase your income. 
If neither of those options are possible,   you need to get real about your alternative, 
which we'll talk about later in this video. Okay. Third step is to pay off any high-interest 
rate debt that you have and build an emergency   fund. You wanna do these two things before you 
actually start saving for retirement.

The reason   for this is that the high-interest rate debt is 
costing you more than you're gonna make by having   your money invested or even sitting — definitely 
sitting — in a savings account, so if you   try to start saving for retirement 
before you pay off your debt,   it's a bad idea. So if you have any savings 
sitting around in a savings account,   use it to pay off your high-interest rate debt 
ASAP. Then you'll wanna build up an emergency   fund. But note, if you have a backup plan, 
this emergency fund, doesn't have to be huge.   You wanna start saving for retirement as soon 
as possible, so don't let this step hold you   back if you have family or your children who 
will support you in case of an emergency. Four is max out your contributions. So, at this 
point, saving for retirement should be your number   one priority. So you wanna contribute as much as 
you can to your retirement accounts. If you have   an employer-sponsored retirement account, like 
a 401(k )or a 403(b) and your company offers   matching contributions, you wanna make sure that 
you're contributing as much as your employer will   match.

This is free money, so take full advantage 
of it. If you don't already have an IRA, set one   up and max out those contributions as well. And if 
you're self-employed open a solo 401(k) or SEP IRA   and max out those contributions too. If you're 
getting the theme, the idea is maxing out your   contributions. All of these ways that I'm talking 
about also allow you to lower your tax rate,   so it's especially helpful.

The final way to do 
it is if you have a high-deductible health plan,   you can open an HSA and max that out too. 
Basically, you wanna save as much money as you can   in your various tax-advantaged accounts. And 
know that if you're 50 or over, you're allowed to   contribute a bit more than the standard maximum. 
So look up the maximum amount and contribute that. Fifth step is to invest your savings. 
So, even though you're starting late,   it's not too late to start investing. 
I hear this a lot — is it too late   for me? Is it too late to start 
investing? But it's absolutely not. One thing that's really helpful to remember 
is that you don't have to take all of your   retirement money out when you turn 67, if that's 
the age that you choose to retire. As soon as you   choose to retire, you only need to take out enough 
to live on each year, really, even each month, so   that you still can let the rest of the money stay 
invested in your accounts so that they will grow   for as long as they can, which you know, could 
end up being another 30 years after retirement.

Next is to plan for your realistic retirement. 
So once you've done the exercises in step one   to figure out the actual situation you're in, 
find out if you're going to have to work longer   than you planned, you might need to be making 
income for longer than you expected and just   know that. The sooner you know that, the more you 
can prepare for it. The next thing to consider is   will you have to move somewhere with a lower 
cost of living? This might be why some people   choose to retire in Mexico.

Cost of living 
is really expensive in the United States,   especially in some cities. So if it's gonna make 
your retirement a lot easier and a lot happier,   consider a change in lifestyle. 
Speaking of changing lifestyle,   you might also have to downgrade what you are 
used to to be able to afford to stop working. So consider the trade-offs. Would you rather work   and keep up your lifestyle 
or would you rather retire   spend time with your grandkids and maybe not 
go on the lavish vacations that you're used to? Whether you wanna travel or take art classes 
or spend time with family, you wanna be able   to enjoy your retirement without stress.

If you 
want some extra support on your journey towards   saving money so you can actually retire, check 
out our free class, Think Like an Investor. I'll   put the link in the description below, and 
remember it's never too late to start. So,   even though you're getting a late start, it's 
okay. There's absolutely hope. You have time.   Just make sure you start saving, re-watch this 
video, and remember the steps that you're supposed   to do things in, and if you want some extra 
support, feel free to join our member community,   The Million Dollar Year.

We support tons of women 
as they are just starting to save retirement   in their forties and fifties, so we've 
got you if you want the extra help..

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Retirement Financial Advice: Money Lessons You Need to Know in Retirement

once your earning years are over and you've built Your Nest Egg for retirement you need to be smart about so many decisions now we're not financial planners and we make that very clear with everyone but we are retired and we do spend time making sure we're doing the right thing financially with our own money because oh bad financial habits and lack of knowledge can actually ruin your we have we have a couple they're good friends and he felt like he knew what to do with the marketplace with his Investments and he clearly didn't because he had his money in stocks when it when they went down and he pulled it out and put it into cash when it went up so for eight years he was on the wrong side of every single one of the stock market moves and because of that he lost a significant amount of his retirement assets and that's really difficult and today we find that they're struggling many of their dreams have vanished and they both actually had to go back to work now there's nothing wrong with work but it's just not what they had planned so we can't emphasize enough right out of the shoot having a financial planner is so important because it gives you a plan it gives you a vision it gives you an idea but it also does this which I think is most important it takes the emotion out of the marketplace which can get the best of you think you know what's going to happen at a new presidential election and frankly you don't that's right so let the experts help you with that because we don't want to have what happened to them happen to you today we want to share some practical ideas that may maintain or even improve your financial situation and again the number one lesson today is don't manage your money without a financial planner and we don't mean a stock broker what we mean is someone who has a fiduciary responsibility to make recommendations that are are really good for you not good for them and they talk to you about the strategies and you might say well sure they do but they also talk to you about withdrawal strategies right how much should you be withdrawing each year in order to preserve your nest day how much do you need each month and then they pull it from the smartest place it needs to come from using tools like tax loss harvesting you can't just take money out of a stock because you want to because you're going to have capital gains right right and you know we're not a big fan of multiple planners but we'll leave that part up to you so the first one is make sure you get a financial planner somebody you're comfortable with the second is keep your emergency fund intact kind of no matter what you need to have emergency savings that doesn't disappear when you retire it's more important than ever to have accessible cash set aside for any type of emergency so two three four months of expenses in a cash account that way your financial planner can invest the rest of your money and always always be thinking about you're going to need more money in 60 days so what can they put you into short term so you want to have this cash account so you can cover any kind of emergency expenses or just if you want to leave stuff in the market a little bit longer you've got some cash or even if you have any big purchases that are coming down the pipe that's true making sure your financial planner knows that you're ready for that so the second thing is the emergency fund now here's another um here's another way that you can get into trouble or you're also a way to dig yourself out of trouble you want to take a look at all your luxuries and make sure that they haven't become a burden because frankly that happened to us we both had jobs we were both working gosh 15 years ago we bought our first boat and we bought four boats over the next 15 years but we could afford it because we both were working we both had money and it was our floating vacation home so to speak I I call the last one that we had a lifestyle about because we went away on that one a lot it was a little bit larger but once we were tired all of a sudden it was like well we don't really want to go out on it the weather isn't good you know we'd rather stay home we'd rather be with for the price of diesel or the price of gas you know the price of storage the price of hauling the price you know all of those things have to be factored in when you have a fixed income yeah and we didn't have the same earning capacity to kind of keep up with the luxury so we stopped using it and then it became a burden like why aren't we using it and it was a year ago now that we decided to sell it and it's sold within a month because we kept really good care of it but the thing is if you have luxuries it's really important to take a look at them and say that's something we're really getting a lot of satisfaction of because it's going to cost you money well there are also luxuries that you have and then there's luxuries you provide for others right so we have six children and we were providing cell phones homeowners insurance auto insurance airline tickets for them and their significant others are partners and you know that was all fine when we were dual income but as they aged and as we aged and as we came into a fixed income place we needed to start peeling some away and giving those responsibilities back to them and they can afford it they all have great jobs and if they're ever stopped but it was a luxury it was to be able to do that for him but but frankly it also gave us a lot of satisfaction a lot of fulfillment to be able to help them right so it was hard for us to Pivot to in our mind take these things away from the kids but they you know at some point they've got to be to stand on their own two feet so and we needed to reduce the support so we sold the boat we paid off two car loans we came to an agreement with the kids and slowly weaning them off of some of these things we've always paid for you know because they they can't afford it and you know they they they're fine with it right they even they say it's kind of silly that you're paying my cell phone bills so it's it's another cord to cut that um you know it's hard to do but we want to encourage you to do it yeah so that was the third one the fourth one is you know really trying to figure out how to live a little below your means you know and that's new for us for our entire career as our income went up our living style and our cost of living and everything we did went up with it you know hard work learning and growing you know we were climbing the corporate ladder Mark was building his business you know it was easy to have your lifestyle kind of follow you yeah and you know we both come from humble beginnings and we improved our lifestyle as we went up but then then it's sort of when when you retire you have to think okay well my income's not going to keep going up as a matter of fact it's going to go down so how do we want to live what are some things we can do to live within our means and even underneath our means so and there were a couple things we had to agree to right so you know I call it shopping for sport right so there's there's no more you're better at that than pickleball kind of just opening up and saying oh you know look what just came into my feed I'll take a look at those earrings or that bracelet or those dresses or those sunglasses I think about it I kind of have a little bit of a sunglass addiction so so you know there was you know we agreed that we would do no more shopping for sport yeah it was one of Instagram Amazon it's so easy to spend money today and you get hooked on this new game you don't even leave your house you don't even leave your house you know keeping up with the Joneses that's not necessary anymore right you know who are the Joneses anyway today it's other retirees we're not taking on any more debt we've paid down most of our debt you know again we have a financial planner and you know we have a more modest wardrobe I mean our fancy or fanciest clothes are for our YouTube channel right and we're eating out less we made the agreement that for health and economic reasons we would eat out less so leave living below your means is something you can control and it's something that you can put some time and intention into so another really important thing to get to know is everything about social security and we we don't know that much about it so our financial planner and our accountant has said you don't need to take it yet and that's kind of all we're thinking about at this point they'll let us know when it makes sense and when it makes sense it'll make sense but you have to really understand or have someone coaching you on what's important because everyone's financial situation is different yeah and I really believe the more you know about it the better off you'll be even if you do your own investigation you know Social Security was not meant to be your primary source of income as you age in America it was meant to be a supplemental income so you have to understand the amounts you can get at what future ages and can you still work and does your state tax it or not you know there's a lot of rules around Social Security and my recommendation would be just get to know your rules in your state around your age just for the knowledge I don't know but I think there's a certain amount of uh you can't earn a certain amount of money and still get Social Security I don't really know but you have to know that's I guess that's the point you really need to know everything about social security check with your account and your financial plan right here's a big one for us and it should be for you too I think you know money will never buy you happiness and we've heard that like our whole lives and so we actually did a little bit of research and you know what really defines happiness for us and we came across this quote and part of it is from Warren Buffett but it says you know we want to do what we want when we want with whom we want for as long as we want and that to us will Define our happiness you know now some of what you do will require money but it's not all about buying stuff and things you know most of what we do for happiness now is experiences I I would think that for us and tell me if you agree but the something we just spent money on is giving us more happiness now for a very low value than anything else I remember paying forever you know what it is your pickleball racket pickleball so we joined the YMCA uh for like eighty dollars a month for the family we bought a pickleball racket for 100 bucks and six balls for eighteen dollars and we're getting like five or six hours of use out of that each week yeah that's happiness that really is making us happy it's not a new car it's not a new set of golf clubs right it's not what we're used to thinking that was um would create happiness and we're also looking at vacations differently right now that we have the full seven days to ourselves many vacations to visit friends or family you know they become Tuesday Wednesday Thursday versus the high traffic weekend Friday Saturday Sunday so many vacations Beach days lunch dates you know we just renting a boat for a day we're doing that with company comes we're renting pontoon boats now for the day to take companies out it's three hundred dollars for a day which in one respect sounds like a lot but it's a lot cheaper than owning a boat right that's true so we still get out on the water now look you clearly need money in retirement we all can agree on that but how much do you need and how much is enough you've got to figure out how much you have how much you can pull out each month and how long it's going to last those are key questions you need to work through with your planner and your account yep and paying attention to some of these things that we just shared will help guide you and keep you out of trouble now we hope you enjoyed this video and if you did you're going to like this next one called the truth about early retirement what they don't tell you it's one of our most popular videos and you know we're not getting any younger so why steal these fabulous years from ourselves our family and our friends watch this one next

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Mastering the FIRE Method: The Ultimate Guide to Early Retirement & Financial Independence

at some point of time you would have thought of retiring early or maybe you're thinking of it now and truth be told retirement is not about abandoning work there are very few who would say I won't work any further but what we yearn for is the freedom to operate to live life in the way we want and that brings us to the five moment now fire stands for financial Independence retirement it's a very catchy acronym and to put it in a nutshell it's a program that's designed around saving aggressively investing in high return instruments like equities and disciplined withdrawals which put together ensures you have enough money to cover your living expenses for the rest of your life and therefore retire early in this video I shall be explaining the concept in Greater details we look at the implementation steps some calculations and why fire needs to be a deliberate part of your financial life this might be a short video but it's a very powerful concept so let's begin the concept of fire was popularized in a book titled your money or your life it was built around self-sufficiency control over one's time moderate consumption and of course living life outside the nine to five for instance this guy Pete atney who is better known as Mr Money Mustache applied the fire principles which allowed him to retire from his job as a software engineer at the age of 30.

He's 48 now and he continues to live comfortably of his Investments after so many years and it's not just Pete there are writers bloggers people traveling the world software developers and even YouTubers who are using these principles to lead a more open life and have attached some articles and videos in the description to that effect some of these stories are really inspirational and it proves the fact that a little bit of planning on the financial side can have a profound impact on other aspects of one's life and in a very positive way now there are three parts one needs to address when implementing a fire strategy the first step is savings and the hardcore fire disciple is expected to save anywhere from 50 to 70 percent of one's monthly income this is of course easier said than done and probably where a lot of people make up their mind that this is not their cup of tea but from what I have read and what I've experienced the saving need not be always defined as a percentage and we can also work with absolute numbers which we'll see when I come to the calculations part now when we hear the word saving our first reaction or response is on reducing our expenses however money can also be saved by upping one's income which is what I suggest and it does make sense right I mean there is a limit to what one can save but income generation has a much longer Runway and in our case it can include taking a part-time job doing some consultancy work asking for a pay hike changing jobs for a better salary reskilling oneself or of course starting a side hustle which can be a mix of active and passive work in fact I have a friend in Bangalore who works as a data scientist from Monday to Friday and then on the weekends he takes classes on an edtech platform and also does some consultancy work to put it in numbers what was earlier a monthly saving of 50 000 Rupees is now easily over 2 lakhs a month and this guy has absolutely changed his life around by leveraging what he knows so he's on fire metaphorically speaking and the the fire strategy encourages us to find creative and better ways of increasing our savings rate the Second Step under the fire strategy is to spend wisely notice I didn't say don't spend I said spend wisely which means you need to identify what is an essential expense and what can be tagged as discretionary now people who practice Fire have a ton of helpful advice for us these include driving a good used car instead of a new one renting versus buying a house cooking at home rather than eating out track your daily expenses cancel unnecessary subscriptions Etc from what I've read these small steps can reduce your monthly expenses by up to 30 percent which if you choose to look at it differently is like getting a 30 incremented salary so you don't have to be stinky when it comes to your expenses but try to be a bit more rational about it and the third and final pillar in the fire system is the investment part now on a basic level the system requires advisors to invest as much money as you can and as early as possible so it's the principle of compounding at work here and this table here is a handy guide to how well your Corpus expands when you give it the necessary capital and a decent amount of time to grow now the fire method keeps this investing part ridiculously simple one you invest some money every month or as we call it you set up an sip a systematic investment plan and secondly this money is invested in a low cost Index Fund or ETF which in our case is either the nifty 50 or maybe a slightly broader Nifty 500 Index so essentially the focus here is to participate in the equity markets rather than actively trying to beat it which by my Reckoning should Fetchers and analyze return of 12 to 13 percent again the idea here is to maximize the returns which is why equities have been suggested but if that makes you a little uncomfortable then you can also settle for a mix of different asset classes which is something I explained in my video on asset allocation a few weeks back yet another investment you can make which is encouraged under the fire movement is on account of passive income dividends from stocks interest from your fixed deposits income from your blog your podcast YouTube channel monetization rental income are just some ways of making an Roi from physical or virtual assets now notice I have put this part under Investments and not income because passive income does require a lot of upfront work but once you do the hard work and you do it well one can expect a continuous stream of income over the next few years which will not only support your early retirement Ambitions but will also act as a safety net in fact there is something called an fi Ratio or the financial Independence ratio which largely means if your passive income is greater than your expenses then you're making some great progress on the path to financial Independence so to sum it up remember fire has three simple principles that you need to work on which is save more spend less and invest wisely if you're getting good value from this video then please do give this video a thumbs up and if you aren't a subscriber yet then do consider becoming one as I can then serve you videos as soon as they are released and also share with you some investing strategies tips and stories that are continually Post in the community section the original fire formula is based on the four percent rule which is the amount of saving you can safely withdraw every year without worrying that your money will run out for example let's say you are 29 years old and your monthly expenses are around 50 000 rupees if you want to retire at 40 then you have 11 years to accumulate a retirement fund so here's the math if household inflation is likely to grow by eight percent per annum then the 50 000 you spend now will rise to 1 lakh 16 000 rupees by the time you're 40.

So annually this comes to 14 lakh rupees and per the four percent rule it's 14 multiplied by 25 which means you need to accumulate a couples of three and a half crores to safely navigate through your retirement years or at least that's what the fire formula says now in my view there are some gaps with this four percent rule that I think we should all be aware of firstly this rule is okay for someone who has factored 25 maybe 30 years of retirement but if the retirement Horizon goes higher let's say 50 years for example then this formula starts getting a bit shaky and I've pinned a research study by Vanguard on this in the video's description secondly the four percent rule is a United States origination of the 1990s and has been tested on a historical basis when the yields on equities and Bonds were sufficiently high now we are not Americans and what works there will most likely not work for us which means there's an asset allocation and a market performance risk which needs to be accounted for and finally because each of us have our own preferences income goals saving patterns Etc I always felt it's important to have a customized fire implementation plan rather than picking something off the shelf which is why I created my own fire calculator which gives a clearer picture of how much I need to accumulate when can I idly retire how much withdrawals can I do on a monthly basis and at what point and in what circumstances my retirement money can run out so this obviously starts with the inputs and you need to type in your current age the age at which you want to retire and of course your life expectancy which I hope is strong and long then comes your current portfolio of Investments and this includes your mutual funds fds ppf EPF gold and other stuff and as a best practice kindly exclude the cost of the house where you will be staying post your retirement if you're still working then input the monthly savings and the annual increase you foresee input the expected returns from your investment the capital gain tax that can remain at 10 percent and finally have a view on how much will your expenses be in the first year of retirement and the expected household inflation rate and once we have these numbers keyed in as I have shown in this example the resulting output should clearly tell us three things one the amount of investment Corpus we need at the time of retirement which in this illustration is 2.2 crores at the age of 40.

Secondly we now have Clarity on how much can be spent on an early basis which starts from 12 lakhs so that's one lakh per month and it increases by eight percent every year and thirdly we get to know how sound or unsound this entire construct is like in this case our calculation shows that I'll run out of my money by the time I am 64 years old which is another way of saying that I need to rework my fire math which can include an increase in the monthly savings and the growth rate I can also consider extending my retirement age to a higher number let's say 45 years and finally I I can be a little careful with my expenses and instead of spending a lack of rupees maybe I can make do with 90 000. so there are many permutations and combinations you can look at but my suggestion is try to be a little conservative in your estimates especially when it comes to return on investment the inflation rate and the post retirement monthly expenses now for your benefit I have enclosed the link of this worksheet in the video's description it's a downloadable sheet all the formulas are open so feel free to change the numbers improve the formula if required add your own customization if it helps you but have a clear idea on when and where you need to be on the path to financial Independence so when I first heard and read about fire I was not a big fan of it I mean saving 50 to 7 20 percent of one salary is almost next to Impossible and I would have shut sharp had I not realized that as a method fire is quite flexible and can be used in many different ways so the calculator is one way and you can make a customized version of it but then there are more strategies there are more variants of the fire strategy and if you are interested then do read up on lean fire fat fire Coast fire and a few more of these in related articles that I've Linked In the video's description the point is and I myself realized a very late in life that many of us don't know when to retire how much is needed to retire which is why we continue working in a role or occupation that we don't enjoy much and that's where I think fire as a strategy might be the solution and it's just three things right increase your income and savings lower your expenses and get your Investments right so read up more about this concept in the Articles and websites I've added in the description and I sincerely hope you practice some sort of fire going forward if you found this video useful then do press the like button do subscribe to my channel share this video and I'll see you three days from now until then foreign

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Warren Buffett: Why Most People Should Invest In S&P 500 Index

why have you advised your wife to invest in index funds after your death rather than berkshire hathaway i believe munger has cancelled his offspring to quote not be so dumb as to sell she she won't be she won't be selling any berkshire to buy the index funds all all of my berkshire every single share will go to philanthropy so that i don't even regard myself as owning berkshire you know basically it's it's committed and i've i so far about 40 percent has already been distributed so the question is somebody who is not an investment professional will be i hope reasonably elderly by the time that the uh estate gets settled and what is the best investment meaning one that there would be less worry of any kind connected with and less people coming around and saying why don't you sell this and do something else and all those things she's going to have more money than she needs and the big thing then you want is money not to be a problem and there will be no way that if she holds the s p of virtually no way absent something happened with weapons of mass destruction but virtually no way that she will shall have all the money that she possibly can use to have a little liquid money so that if stocks are down tremendously at some point they close the stock exchange for a while anything like that she'll still feel that she's got plenty of money and the object is not to maximize it doesn't make any difference whether the amount she gets doubles or triples or anything of the sort the important thing is that she never worries about money the rest of her life and i had an aunt katie here in omaha charlie knew well and worked for her husband as did i and she worked very hard all her life and had lived in a house she paid i think i don't know eight thousand dollars for 45th and hickory all her life and uh because she was in berkshire uh she ended up she lived in 97.

she ended up with you know a few hundred million and she would write me a letter every four or five months and she said dear warren you know i hate to bother you but am i going to run out of money and and i would i would write her back and i'd say dear katie it's a good question because if you live 986 years you're going to run out of money and and then about four or five months later she'd write me the same winner again and i i have seen there's no way in the world if you've got plenty of money that it should become a a minus in your life and there will be people if you've got a lot of money that come around with various suggestions for you sometimes well-meaning sometimes not so well-meaning so if you've got something that's certain to deliver you know it was all in berkshire they'd say well if warren was alive today you know he would be telling him to do this i i just don't want anybody to go through that and the s p will be a i think actually what i'm suggesting is what but a very high percentage of people should do something like that and i don't think they will have us i think there's a chance they won't have as much peace of mind if they own one stock and they've got neighbors and friends and relatives that are trying to do some like i say sometimes well-intentioned sometimes otherwise to do something else and so i think it's a policy that'll get a good result and it's likely to stick charlie well as becky said the wonders are different i i want them to hold the berkshire well i want to hold the berkshire too no i bet i mean i i i don't like them i recognize the logic of the fact that that s p algorithm is very hard to beat in a diversified portfolio of big companies it's all but impossible for most people but you know it's i'm just more comfortable with the berkshire well it's the family business yeah yeah but but it uh i've just i've seen too many people as they get older particularly being susceptible just having to listen to the arguments of people coming well if you're going to protect your heirs from the stupidity of others you may have some good system but i'm not much interested in that subject [Laughter] okay you

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Your Source of Wealth – Planting the Heavens Vol. 2

ANNOUNCER: The Believer's walk
of faith is paid for by Bill Winston ministires,
partners, and viewers. BILL: God plans that every tree
in you that he didn't plant He plans to root it up. Now we're
at that tree come from? It came from the life that we used to
live. Came from the environment that we're in. His trees have
been in us, and the only way the enemy has been getting his
advantage is because of trees that should have been rooted up.
The problem in trees that we've had a tree that kept us with
just enough and God wants you to have more than enough.

The word
is a thing for you to produce wealth in your life. When God
gives you his word don't consider what anybody else said.
What's the end game? Where do I want to go? I want to plant the
heavens. I want to turn the West side into heaven on earth. I
want to turn prisons into boarding school. I'm saying He
can use you. God doesn't need but one person to believe. You
ain't serving somebody down the street, you're
serving almighty God. BILL: God wants to create a new
you. He does it with seed. With seed and thing about a seed is a
seed gotta be planted. Over in Luke chapter 17 and verse 5. And
the apostle said unto the Lord increase our faith. Why? Because
the Lord was telling them they've got to forgive. And they
say, Hey, you're going to have to give me some more faith to do

I know how that is. Now remember, be fruitful and the
Bible even talks in Galatians about the fruit of the Spirit.
Galatians 5:22 talked about the fruit of the spirit. And the
first one he mentions is love. That means you going to have to
love people that don't love you. And that happens to be that
you've got to forgive them. No, this is not natural love, this
is the God kind of love. This is Agape, this is the way God
loves. And I'm saying that God is saying, I don't want you to
love them with your love because your love is limited. But I'm
about to take you into some places that they may call you a
name, and I'm asking you to do what? To love them. And I'm here
to tell you that environment can take you past what you're
capable of doing.

Then you're going to find you need some
supernatural love and what these are love. Put them up there
again, love and joy and peace and so forth. You're going to
have to have those, and we call them supernatural dispositions
of God. See, he said, I am the vine, this is Jesus, you're the
branch. Now, where do the fruit come on the vine or the branch?
Does it come on the trunk or does it come on the branches? So
the fruit come on the branches. So even though Jesus is the
vine, the trunk, you are the branch and he expects the fruit
to show through you. But these are supernatural disposition.
These are dispositions you cannot conjure in your own human
ability. Cause somebody's going to take you past your ability to
love. How about some joy? You're supposed to have joy even in
times of sorrow, you don't want to lose your joy. Joy keeps you
young, joy keeps you strong. Sometimes just take a laughing
break, just get up in the morning, look in the mirror and
then take a laughing break. I'm saying that because just as
quickly as this I'm teaching this it'll happen.

I just got a
call and I saw who it was on the phone. I said, I'm not answering
it that. Why? Because they are heard that they said some things
about me that weren't too good. And I said, you know, I said to
myself, I'm done speaking to that guy. That's what I said to
myself and just soon as I said that, (making ringing sound) the
phone rings, now what am I supposed to do? Well, I'm asking
Jesus, give me some more faith for this.

I'm about to tell his
brother what I think. Yeah. Watch and see your time is
coming. Say, be fruitful. It's not natural fruit. So what has
happened is I've got to now we got to develop a new you and a
new you is not like the old you. Every now and then the old you
tried to rise up and take over the new you. But when that
happens sometimes you can cut you off from all the provisions,
all the blessings that God has. Cause you lost your temper or
not you, but somebody might lose their temper. So, the first
thing I have to do is I've got to replant some seed, because
everything God does he does from a seed.

It works as a seed. So
I've got to get some new thinking and believing in terms
of not only who God says I am, but what I can do. Cause I
didn't know that before. And I thought I had to just go with
the flow. You know, what's going on, I just got to roll with
that. No, you don't. Be a brand new person. And so what God
wants is he wants the fruit to look like the Word of God. So
every seed produces what? After its kind. So I'm going to get
the Word of God in here and produce some fruit. Now I
believe this.

I believe that because I believe it, then I'm
invested in it. See, I believe that if something going on with
me that is not a part of my redemption then I've got a right
to get rid of it. Good preaching here. And so what I can do to do
that, to get out of this situation is I can get me some
seed so that I said, the problem is trees.

Now look what Jesus
said in Matthew chapter 15 and Jesus talking about getting
these trees out. And we said this before we said, but he
answered and said every plant, which my heavenly father's not
planted shall be rooted up. Okay. Then he goes on, let them
alone. They be blind leaders of the blind. And if the blind lead
the blind, everybody's going to fall into the ditch. So what
he's talking about is the leaders they're blind. What are
they blinded by? They're blinded by the enemy because they're
seeing something or teaching something or saying something
that God didn't say, and they don't want to lose their control
over the people.

So they're going to try to wipe Jesus out.
Cause Jesus is teaching the people who said you shall know
the truth and the truth is going to make you free. So you gotta
look at it and say, well, do I know the truth in this cause I'm
still over my head in debt, and I'm still so far this on. I'm
not coming down on anybody. I'm saying let's start with getting
some new trees. That's God's job with getting new tree. You don't
need money to create wealth. What made wealth? Wisdom did.
Wealth comes out of wisdom. God made the earth wealthy without
money. Where am I talking about living from? I'm talking about
living from the inside out versus living from the outside
in. See, I'm not going to let the situation and circumstances
outside dictate to me who I am, what I can do, so forth and so

104 verse 24. Oh Lord, how manifold are thy works in wisdom
has thou made them all the earth is full of thy riches. It's
already full. I'm telling you that I came to this city with
$200. That doesn't sound like wealth to me. So I'm saying in
the kingdom you don't need money to create wealth you need seed.
You need seed. And you can take the seed and create wealth.
Here's a woman who's kids are about to be taken put in bondage
because of her debt. He said, what do you have in your house?
Am I right about that? Did she have any money in the house? No,
she had some seed. How about Peter? Peter was here fishing
caught nothing. Jesus asked to use his boat. Now I have a
feeling that Peter didn't have anything, but here's Peter and
he gave use of his boat, which was his seed. And what happened?
He pulled in so many fish they couldn't pull them in. Am I
right about that? But notice money didn't make that. See,
that's what I'm telling you.

I'm telling you that the enemy tried
to get you to work longer. Come on, two jobs, three jobs or come
on and so forth. No, no, no, no, no, no. The reason for poverty
is the absence of self production that I'm going to
give you seed and the seed that I'm giving you I am Jehovah.
That means self existing one, and self existing one says that,
wait a minute, I can bring it to pass all by myself if you'll get
my word. Luke chapter 8 verse 11 says the seed is the Word of
God. That's what it says. It says in John chapter 1 verse 1,
in the beginning was the Word. The Word was with God and the
Word was God, all things were made by him. Him who? God. God
who? The Word. And without him was not anything made that was

And go to verse 14. And the Word was made flesh and
dwelt among us. Marry started with what? The Word. She just
started with the Word. The Word is the thing for you to produce
wealth in your life. Now you get money. Sure, you can invest it
and create streams of income. But the first thing this woman
started with who was in debt is started with the Word. The man
of God told her what to do with what she had in her house. Say
amen. And God can point to something in your house and use
it. He sure can. They were at a wedding and do you know they ran
out of wine and know what God did? He used Jesus to tell them
to take this dipper, dip it in the water and take it to the
governor of the feast, the wine tester. And he tasted the wine
and said, my God, this stuff is good. That you've saved the best
wine until now. My point to you is, is notice he gave them so
much wine, 30 gallons, I wonder how much in that did they add it
up that that wine would be worth in today's market.

$215 million.
Now wait a minute, here's what I want you to do. I want you to
change your thinking with a seed. I want you to know that
God does nothing small. And what happens is we try to take what
God has spoken of whatever he said and shrink it down to fit
our imagination. God doesn't want you to do that anymore. The
woman who created the oil in her house, what happened to her?
Well, don't try to think it out. Let God give you some new
thoughts. This woman became an oil Baroness. Peter pulling in
the fish. What happened to Peter pulling in those fish? No, he
just didn't supply a few fish for him, his family, and so

Peter changed the economy of a whole city. And I'm saying
God can use one person in the sound of my voice to create
something that can change the economy of a whole side of
Chicago. He can bring up one business on the West side that
con change the whole economy. Say, be fruitful. Now, what you
gotta do first is change your thinking because God can do it
all by yourself. Say amen. But he needs a vessel. He needs a
branch. He needs a limb. He needs something that he can
bring it through. Look what he says in Isaiah 55 in verse 11.
So shall my word be that goes forth out of my mouth. What
happened? It shall not return to me what? Void, but it shall
what? Accomplish, but it shall what? But it shall what? But it
shall what? See, whenever God gives you a seed understand that
that seed is like a Palm tree seed.

A Palm tree is noted in
God's Word because a Palm tree in Psalm 92, a Palm tree is a
producer and it produces wealth almost with everything that it's
got, whether it's a bark, whether it's a leaf, whether
it's a fruit, whatever it is, it has several streams of income.
And God calls you a palm tree. Why? Because when you get that
seed, that seed may be small, but in that seed once you get it
to produce, watch this, he's going to give you another idea.
You're going to produce again.

He's going to give you another
idea. You're going to produce again. I'm talking about the
same seed. Bill Winston bought the shopping mall. I didn't know
the Joseph business school was in this shopping mall. I didn't
know- Come on now. I didn't know, but if you just get the
seed, just get what he's got. Start where you are and he's
going to produce, he's going to have you create something that
you didn't see before. Say be fruitful. Say multiply. Say
replenish the earth and subdue it. Alright. So first we want to
understand that we need a change. We need a new you. We
need a new you. So I'm telling you, I'm not supposed to go off
on that guy. I'm supposed to call that guy and I don't know
what I'm going to say to him, but I'm going to call him, and
go that thing didn't sit too well with me.

All right. Well
I'm, you know, I got some flesh on me too. I got to deal with
that. All right. Is it the right group I'm talking to here? All
right, now let's look at something else. So in this, God
also does pruning in your life. Now that's the part some people
don't like, and that means he's got a cutaway useless parch.
He's got to do some surgery somewhere. He's got to cutaway
of some of those friends that you don't like, or you like,
he's got a cutaway- but God is going to prune you so that
you'll bring forth more what? Fruit.

He's got to have you self
contained. He got to have you like him. He's got to have you
to be a producer and not just a consumer. Are you with me here?
All right. So now God took these people of his or where God wants
to take us is he wants to take us into a place where he can
send us into an area that we can change the entire place where he
sends us, because he wants the place that he sends us to look
like heaven. Ooh, that's good. Amen. He wants it to look like
heaven. Now, I said something to you the other day. And I said to
you, I said, listen, God can make you a millionaire in how
many months? In nine months. Y'all, don't say that strong.
Maybe it's just weak from up here, but it, it sounds super
weak. Listen, did I say that? Listen, please, the worst thing
you can do is go out and mention that to your unsaved cousin, I'm
telling you now, there are things that Joseph shouldn't
have told.

See, it's too big for them. Say amen. It goes beyond
what is reasonable. See, because they're looking at you, they're
looking at you, you just finished the ninth grade.
They're looking at you, come on. This may not be you, but I'm
looking at you you are working on 98 years old. Come on you,
they're looking at you. No, no, no, no self production. I said,
self productive. See what you gotta do with anything God gives
you is you got to desire it. You got to desire it. If that desire
is not there, God cannot move. See, prayer is desire turned
heavenward. When you really are sincere about your prayer, that
the- Lord have mercy. He said, God will give you the what?
Desires of your heart. And I'm telling you, I'm not saying that
you are greedy. I'm saying that this is your provision. God
wants you to live like him. He doesn't want you to live like
the devil or like your auntie.

He wants you to live like him.
God is bountifully supplied. Say amen to that. Lord Jesus, man,
I'm telling you I'm trying to breakthrough. Say breakthrough.
And I'm going to breakthrough too, in Jesus' name. So God
wants you to live from the too, in Jesus' name. So God
wants you to live from the inside out. Now, when you look
at outside circumstances, those circumstances sometimes will try
to pull you away from truth.

Then they'll try to make you
think that this thing cannot be done. And let me tell you right
now, I've got good news for you. When God puts you in this earth,
he put a creator in this earth. Say amen to that. God will think
it, and you can do it. I said, God will think it and you can do
it. Now, what he wants you to do is have your thoughts to match
his thoughts. Am I right about that? Alright, now with this,
we've got to let the Word of God alone determine what we believe.
We've got to let the Word of God alone determine what we believe.
Fear and worry are a negative use of your imagination. Fear
and worry are a negative use of your imagination. Now, what am I
saying here? I'm saying that some of the greatest books that
have ever been written have been written around what one man
calls the law of life.

And the law of life says basically, let
me read it here. Whatever you envision is what you will
become. Now, the enemy is after what you envision, he is after
what you can see. Now you do not see with your eyes, you see
through them, you see with your brain. Y'all with me here? And
what you see is where you end up. What you see
is what you become. BILL: Well, I trust that you
were blessed by the day's message. Now let me share
with you two points that you want to remember
from today's message. One is that the problem is
trees. A lot of times, you know people, well, the devil made me
do it.

You know, well my auntie is keeping me from being
successful. No, no, no. Nobody can stop you for reaching your
destiny but you. Now, if you think that's the case, then
you've got a tree in you that God didn't plant. That's a
system of thinking. It's a belief that God didn't say. So
we got to get those trees out. Praise God. Number two, in the
kingdom, you don't need money to create wealth. You need seed.
Ooh, that's powerful. You see, the seed is the Word of God and
everywhere you see wealth in the Bible, the Word of God is the
foundation. Praise God. So if I can give you enough Word, that's
what happened to me. I mean, when I came into this thing, I
owed everybody everything. I was so deep in debt I couldn't pay
attention. But I got debt-free seed and look at me now. Owe no
man nothing but to love him for years praise God. Well, I want
to sow that same seed in your life if you will allow me to and
watch it will produce the same harvest.

Isn't this
wonderful? Get the teaching. You will not regret it. Well,
this is Bill Winston saying we love you and
keep walking by faith. BILL: God plans that every
tree in you that he didn't plant He plans to root it up. Now
we're at that tree come from? It came from the life
that we used to live. Came from the environment
that we're in. His trees have been in us, and the
only way the enemy has been getting his advantage is
because of trees that should have been rooted up. The problem
in trees that we've had a tree that kept us with just enough
and God wants you to have more than enough. The word is a thing
for you to produce wealth in your life.

When God gives you
his word don't consider what anybody else said. What's the
end game? Where do I want to go? I want to plant the heavens. I
want to turn the West side into heaven on earth. I want to
turn prisons into boarding school. I'm saying He can use
you. God doesn't need but one person to believe. You
ain't serving somebody down the street, you're
serving almighty God. ANNOUNCER: Today's series
planting the heavens volume two is available on CD or MP3,
on DVD or MP4. To order in the US contact us at
1-800-711-9327 or online at billwinston.org. In Canada,
contact us at 844-298-2900 or online at billwinston.ca. Plant
the seed of this life changing word within your heart to
produce the fruit of the best of heaven in your life and in your

Order this powerful teaching, planting
the heavens volume two today. ANNOUNCER: Drs. Bill and
Veronica Winston are dedicated to seeing lives changed through
the power of prayer. Our loving and highly trained prayer
ministers are ready to pray and agree with you. We know that
prayer can turn around any situation in your life. Contact
us by phone at 1-877-543-9443, or submit your prayer request
online at billwinston.org/prayer.

us on Periscope and Facebook to join us for our regular live
prayer sessions. We want to thank our partners who have made
this prayer call center possible. Together, we are
transforming lives throughout the world. If you are not a
partner, we encourage you to pray about joining us in
partnership and be a part of the wonderful work that God is doing
through this ministry. We love you and look forward to praying
and partnering with you..

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401k to Gold IRA Rollover Companies – Avoid These Crucial Mistakes by..

hi there thanks for taking a moment to listen to my message I've worked very hard my whole life to save for my retirement and however with the looming economic instability and inflation consistently rising I began to worry about whether my money was safe and so I did some research and I discovered that my finances were actually better secured in gold which actually increases in value during hard times unlike paper money or stocks and real estate and when i first started looking for a company to roll over my 401k funds into gold i was overwhelmed by the amount of gold dealer websites i found so i needed help to make sure that i would choose the right company and what i mean by that is that i mean a trustworthy company that has a genuine expertise in gold ira rollovers that would store my gold securely without charging any hidden fees I was recommended to the gold rush exchange by a colleague of mine as a great resource for gold ira information and i was very happy to receive a lot of clear and very comprehensive knowledge about gold ira rollovers which was broken down well enough for even a novice like myself to understand well and best of all the site contain a lot of comparison charts the top-rated gold ira companies based on customer reviews and ratings from the Better Business Bureau the business consumer Alliance and trust link and with the gold rush exchange calm I was able to make an educated decision in choosing the right company to secure the most valuable investment of my life so for those reasons i highly recommend that you visit this website before making calls to different gold ira companies you'll find the site at the gold rush exchange calm or you can just click the link below in the description

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What is a precious metals IRA

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6 Retirement Essentials (Most people only prepared 2 or 3)

I'm planning for retirement most people focus 
mostly on marshaling together enough money you   know Financial Resources so that they can last 
the distance and then maybe at the back of their   heads they have some vague plan right perhaps 
two or three things to fill the time with a lot   of the times this is stuff like travel family 
well unfortunately I'm gonna say that's not   quite nearly enough for Preparation we ourselves 
have been retired for two years and going looking   back on the past two years I kind of see like 
six essential things that if you prep for it   beforehand before your retirement starts I think 
this can really make such a positive difference   to your retirement so that's what I wanted 
to bring up and discuss with you guys today   number one first and foremost of course we have 
to talk about money most people's concern is the   amount of money that they have in retirement 
whether it will last them till the end come   comfortably and allow them to afford the Hobbies 
like travel good food Etc but I actually think   after going through the last two years building up 
our financial Acumen is just as important if not   more so what do I mean by Financial Acumen I mean 
stuff like budgeting tracking projecting investing   I mean if you think about it the money in your 
bank account can always be squandered we all   know that story I think more importantly what's 
going to make your retirement more fireproof is   having an ability to generate more money where 
it came from in the first place so the second   essential thing that you can prepare for so that 
you have a wonderful retirement it's definitely   the ability to be self-directing and disciplined 
self-direction definitely helps so much with   spending your retirement days meaningfully right 
after all there are no more like work schedules   or like demands from colleagues or bosses to help 
shape your days anymore you have to be the person   to take charge in retirement there's a study out 
there actually that shows that for happily retired   folks most of them actually have about 3.6 core 
Pursuits that's what they say and the unheably   retired folks tend to have less than 3.6 corporate 
suits coming in at about 1.9 call Pursuits that's   what the study reflected I guess it kind of just 
shows in retirement you really need to fill your   life to the brim and keep busy with activities 
you love and that is a really great formula for   happiness and self-direction will help you 
to achieve that state as well as discipline   because if you think about it like discipline 
directly affects the state of your finances right   it affects whether you stick with your retirement 
planning whether you keep fit and active and you   get to maintain your health in retirement even 
whilst you're left up to your own devices even   to find your cover suits if you don't have any 
when you're starting or in your retirement so   discipline and self-direction will be like 
the building blocks for enjoying your life   in retirement the third essential thing you might 
want to work on and cultivate or happy retirement   is people skills right so studies and research 
have reflected very consistently that the main   determining factor for happiness and Longevity 
for most of us is actually relationships Human   Relationships friendships relationship with 
your spouse and with your family I guess if   you look at most of us you know we all have 
a little need of work on some social skills   in some aspect I mean some of us are a bit shy 
paper hats or graph or maybe socially anxious   working on our people skills really will help us 
to get along and live happily with our spouse and   family members and also importantly to make 
new friendships at whatever age we all know   that making new friends gets a lot more difficult 
as we get older I mean I haven't heard anyone say   otherwise for me personally making new friends 
as I get older is the biggest challenge there's   this huge feeling that nothing can replace 
friendships with people who have known you   all your life but it is also a challenge as I 
have chosen to exercise through Arbitrage in   our retirement and we've moved away from home 
so those friends aren't with us in our present   I find that it takes a lot of intention I have 
to consciously push myself to broaden my Social   Circles and make the effort to get to know people 
on a more intimate basis I am also very happy   to be able to say that it has paid off in that for 
the last two years in Bali I have actually made   two or three new friends that I'm happy to say are 
kindred spirits and not just social acquaintances   so that's very nice and it's a huge Comfort to our 
daily life here in a foreign land away from home   now before we move on a big thank you to 
Mumu Singapore for sponsoring this video   Singapore is an online trading platform for 
stocks ETFs and options I've been using the   MooMoo mobile trading app myself for almost 
a year now and I think it's awesome it's   fast intuitive trading US Stocks is commission 
free plus they give free level to data and many   more perks now for a limited time when you open a 
Mumu Singapore Universal account they'll give you   a year of commission free trading of Singapore 
stocks ETFs and reads if you're trading us and   Singapore stocks just switching to the MooMoo 
app will save you so much money already when   you deposit at least a hundred same dollars and 
start using the mobile app to trade you stand   to receive cash coupons up to 128 Sing dollars 
and even a free Coca-Cola share worth around 87   subscribe two thousand Sing dollars or more into 
funds on the MooMoo fun Hub and MooMoo will give   you cash coupons up to 150 Sing dollars subscribe 
at least 100 Sing dollar us to Momo cache plus   and they'll throw in an additional tensing 
dollars cashback altogether that's 368 Sing   dollars worth of Welcome rewards absolutely free 
just for using the Momo app so if you're actively   investing anyhow I recommend checking out the 
MooMoo ad using my link in the description below   now back to the video the fourth essential 
thing that you can definitely work on and that   will benefit your retirement tremendously it's 
actually courage you're definitely gonna need lots   of courage in retirement and I guess this isn't 
a skill exactly it's kind of more of a quality   but in retirement you need a lot of courage 
to even plunge into retirement you need the   courage to you know take that leap of faith to 
stop putting it off due to fear of the unknown   feel or financial insecurities so then it's all 
about courage at that stage not let fear and   insecurity rule your life and your decisions it 
is also the courage to recognize that in life at   the start at the end in the middle the Domino's 
you need are never all nicely lined up you know   at some point you just got to jump into it and 
then learn to cross the obstacles as they come   so for retirement long term I guess the 
biggest issue most commonly is always money   but my perspective on this is that hey budgets 
can always be reduced money can always be earned   or recouped or whatever happens so I still 
think that you know it is actually beneficial   to Advocate an approach whereby you get to 
a point where you feel that you have most of   your Ducks lined up you've planned well you've 
prepped for it grab hold of your courage with   both hands and then take the plunge people tend 
to think of retirement as the end but it's not   it's the start of a new phase where you should be 
trying so many new things new Pursuits new ways   to live and for each of these new adventures 
you're gonna need courage to take action and   once you have taken the plunge you'll find the 
next fifth thing very very useful and that would   be a mentality of resilience especially in early 
retirement there are a lot more decades ahead of   you you know and therefore a lot more chances that 
they things can go wrong whether it be down to bad   financial planning or perhaps an unexpected Health 
catastrophe or even sometimes natural disasters   whatever comes I guess you will always need that 
strength of Will and the resilience so that you   can roll with the punches and then get back up 
you want to know that you have the mental strength   that even if things go pear-shaped you won't just 
give up and lose hope and certain Corner you've   got to Marshall what you've got inside you go out 
there find Solutions perhaps if necessary you've   got to go back to work but know that later on 
you can return to retirement and try again so the   sex essential thing that I believe will benefit 
everyone in retirement is to cultivate an attitude   of gratitude we all know life is a very long 
journey hopefully at least and so much of what   we Chase using most of our years actually doesn't 
really matter in the big picture once you have   taken a step back and then at that point is when 
you start realizing the earlier you cultivate and   attitude of gratitude and that appreciation for 
the simple little things that are probably around   you everywhere every day the happier you probably 
will be and it sounds silly but it's not really   automatic I mean we all live and grow up and 
work and go to school in a society that kind of   innovates us with messages that we need to reach 
for more have more ambition gives us you know that   High definitions of success in life that we 
have to try to jump to reach and nobody sings   the Praises of the pleasures of a simple cup of 
tea you know the importance of family time with   your loved ones or or just the pleasure of being 
able to take an evening walk on the beach with   your dog so I think that it's very important that 
somebody reminds you that you know you can not   overload what you already have what you're already 
surrounded by growing that muscle of appreciation   so that in each and every moment you are present 
in your own life you see all the little Joys that   you're surrounded with every day and if you 
live life like that I think that will help   you achieve contentment with just the small stuff 
around you and that's what majority of your life   in retirement may be about is just a small stuff 
every day but in my own retirement here in Bali it   is what makes me so grateful and so happy every 
day that I am surrounded by my loving husband   and very interesting and independent little dog 
that's very very cute you know that we have very   comfortable a bit simple house we have the ability 
to enjoy good food even if it's simple stuff   from the war rooms locally we have a garden and 
beautiful things are growing around us every day   the weather is great you know stuff is good yeah 
I think this is one of the most essential simple   things that's often overlooked simply because it's 
a matter of mentality but I believe this essential   quality or characteristic could make all the 
difference for you so these are the six essential   things that I believe are very very important for 
you to cultivate and prepare for in the leader to   actually taking the plunge into a return then I 
think that if you have these six strong skills and   qualities going for you you will be in a position 
much more well placed to make the best out of your   retirement however long that period may be let me 
know what you think of my suggestions whether you   agree or if you think they suck let me know why 
but in any event I really appreciate you tuning   in and sharing my thoughts for this week and 
wherever you are in the world I'm wishing you   a happy Saturday evening and let's speak again 
next week till then you take care and bye for now

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