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3 Ways to Invest Your Retirement Money | CA Rachana Ranade

Well today, I am going to tell you a story, 
a story of an ant and a grasshopper. When it   was a nice sunny day, the grasshopper was 
merrily singing certain nice tunes and he   was enjoying the weather while, on the other 
side the ants were very busy gathering food   so that they don't have to face a problem 
on a rainy day. Then what happened that,   the rain started and when the rains were 
pouring heavily, the ants were enjoying the food   in their own small home. Poor grasshopper, what 
might have happened to him? You want to see that,   the grasshopper is also merrily enjoying food,   because he's not the grasshopper of that original 
story, he's the next gen grasshopper, he knows   how to plan for his future, maybe he's seen my 
lectures and that's why he's a smart grasshopper.   Hey folks, CA Rachana Ranade here and I welcome 
you all to a brand new video which is about   how to park your retirement corpus.

I am sure 
that grasshopper hasn't still left your mind,   you might be wondering how did he get that 
food, so it's all about proper planning,   proper goal setting and if you're still 
not aware about how to set smart goals,   just have a look at this lecture whenever time 
permits and I am sure that that grasshopper   might be very very keen on learning, he might 
have set his retirement goal very nicely,   that's why he was able to enjoy the summer 
as well as the post retirement phase. Well now, it's time to press the reset button, 
why? Because you were in the accumulation phase   of your life till now but, right now we're 
assuming that you have already reached that   retirement phase and now, you're going to go into 
the decumulation phase. You might be wondering,   what is this? So this video, to be very honest, is 
not targeted for people who are in 20s or in their   30s, this is more targeted towards people who 
are at their retirement age of let's say 60 years   or even if you are 30 years, maybe, you can 
definitely watch this video for your parents   right, because they are going to be the ones who 
might receive a lump sum amount at retirement   and then they might get confused as to how can I 
park these funds so that I can decumulate them, so   that I can utilize them, withdraw them very nicely 
and lead a very comfortable life post retirement.   So just to give you one more quick clarification, 
accumulation phase happens when you are working,   whenever you are keeping that small part of 
your income so that you can easily retire early,   retire rich and now once you have 
reached this retirement phase,   now it's all about withdrawing your 
investments and leading a peaceful life.

Many times people ask me on WhatsApp or through 
emails that Rachana, we have received an x amount   as a lump sum retirement amount, now where 
should we invest this. If you really ask me,   there's no single answer for that, I will give you 
an example for this as well. Assume that there are   three friends a, b and c. Almost 25, 30 years ago, 
all had decided that when we retire, we should   have a retirement corpus of one crore rupees and 
today all of these three people have retired.   Budgeted amount was how much, target amount 
was one crore but, let's understand actually   what have they achieved, Mr. A saved only 30 
lakh rupees so I can say today his investment   corpus is just 30 lakh rupees, for b it is 90 lakh 
rupees, 90 lakhs is very close to the target and c   has managed to invest two crore rupees for his 
retirement. Now you only tell me one thing,   can I give them one single strategy or 
the strategies have to be different?   Answer is, the strategies have to 
be different but what will be the   strategies is exactly what we are going 
to discuss in the next part of the video.   So now let's understand all these three cases one 
by one.

The very first one, if you remember is of   Mr. A, whose target saving for retirement was 
one crore but he actually ended up only with 30   lakh rupees. Now what do you think, out of these 
three strategies, what should be his focus on,   should it be on income generation, on corpus 
protection or on corpus growth? Ideally, it should   be mainly on income generation and of course 
on corpus protection. He can't take the risk to   grow his corpus by putting his corpus in risky 
instruments like equity post retirement right.   So what are few solutions for Mr.

A, solution 
number one, unfortunately he will still have to   make a point to earn additional income, now how, 
if he is a skilled person, he might still give   some certain consultancy services and earn money 
Possibility number two if that's not, I mean if   that's not doable, maybe if he's staying in his 
own house, he can sub rent a part of his house,   so let's say he can have a paying guest to whom 
he can just give like one bedroom of his house,   something like an Airbnb model, can be operated 
by him as well right.

One more possibility is   that if he is able to cut down luxury to 
almost zero percent levels, then he will be   able to survive through his retirement and one 
last point which he will have to do is that,   even if he's spending on essentials, he will have 
to spend on the essentials very very tightly. So   I hope all the young viewers out there, they 
might have understood that come what may,   I don't want to be Mr.A post retirement. Now let's 
go to the case of Mr. B, his targeted saving for   retirement were one crore rupees and how much did 
he end up saving, he ended up saving 90 lakhs,   almost hitting the target right. What should be 
his focus on? His focus should be on number one   corpus protection, because he's almost there. 
Now, he doesn't want to lose the corpus but,   simultaneously he also wants to generate certain 
income. So for that what will he have to do,   number one, he should ensure as I mentioned that 
his capital is not eroded, so, for that can he   invest in equity, direct equity? No. He has to 
ensure that capital is not eroded number one.   Number two, can he still afford a slight amount 
of luxury, why not slight amount of luxury is   affordable because he's very close to his target 
and number three, what he can do is that he can   invest a part of his funds in something like 
a conservative fund wherein, 75 to 80 percent   exposure is given to debt and a very minor 
portion is it is actually allocated to equity,   so I can say that corpus growth can be a very 
very slight point which may be considered but,   again I am repeating, major focus on what, major 
focus on corpus protection and income generation.   Let's move on to case number c.

For case number 
c, he's at the most amazing position because his   target saving was one crore he has ended up saving 
to crore. Does he have to really bother about   something right now, no. Can he actually live 
his retirement life in luxury, absolutely yes.   Can he invest in equity as well, this person, 
yes, why not, because for him capital protection   is not very a big running crisis, he also has 
surplus corpus. So he can risk out some of his   money in equity. Now whether in direct equity or 
in equity mutual funds depends on his knowledge   right. So after understanding all these 
points, I hope you have understood that Mr.

C   has two further possibilities, possibility number 
one if he lives to the age where he had predicted,   let's say he had predicted that he lived 
to 70 and if he lives only till that age,   he will be able to keep some corpus even 
for his nominees, for his legal heirs.   If he outlives his expectation so for example he 
had planned that he will die at 70 as an example   and he lives till 80, still will he have 
the corpus to live that additional 10 years,   yes, because he has that additional quotient.

all those youngsters out here watching the video,   I hope you understood that you surely love if you 
are Mr. C while you are at your retirement age.   Well before we move ahead to understanding the 
various investment options available, we have   to understand two prerequisites, which are these 
two, number one, even if you are in the retirement   phase, very very very important is the emergency 
fund. Now what is emergency fund, it's something   like you should have almost three to six months 
of your expenses very easily available with,   you it could be in your savings account, it could 
be in your FD, okay it could be in liquid fund but   it should be very much easily accessible. If 
you want to know more about emergency funds,   I have already made a video on that you can check 
it out later. Number two, very very important,   you should have a health insurance because as and 
how you grow more in age, chances that you might   face illness, you might face hospitalization 
or a shade higher so, you must have a proper   health insurance.

If you want to know more about 
health insurance again I have made a separate   video on that, I have recently released this on 
the channel. So be sure that you have knowledge   about both these two points and then only move on 
to understanding the various investment options. Emergency funds ticked off, health insurance 
ticked off, I am not saying tic toc, ticked   off okay.

Now with this let's move on to the 
government schemes and we are going to focus on   three schemes. The very first one is SCSS, senior 
citizen saving scheme. The second one is PMVVY   which is the Pradhan Mantri Yaya Vandana Yojana 
and the last one is POMIS which is post office   monthly income scheme. Well to be very honest, the 
first two are absolutely retirement focus schemes,   the third one can be opened even by people who 
have not attained the age of 60. So for example,   if I want to open a POMIS, I can, I can also open 
it in the name of a minor as well okay, but, then   why are we discussing it here, because it offers 
a benefit of a monthly income scheme, that's the   reason why I am discussing it in this section 
right. So let's understand all these three one   by one. Where can you open an account under SCSS, 
it can be opened up with any authorized bank or a   post office, for PMVVY it is solely operated by 
LIC. So if you want to open an account, you have   to approach an LIC agent or you can go directly 
to the LIC office.

For a monthly income scheme,   you have to open it with a post office I mean, you 
have to go to a post office and open an account.   Eligibility for SCSS, ideal eligibility is 60 
years but with certain uh conditions so for   example, if you have taken a early VRS, a special 
VRS, then age limit is taken down to 55. If you   are a defense personnel, the age limit is taken 
further down to 50 right, for PMVVY, it's a flat   age of 60 years and for POMIS as I mentioned, 
there is no age limit even a person of 20 years,   30 years, 40 years, 60 years also can open 
this account right. The next one is about term   tenure, for SCSS it is five years and it can be 
extended to further three years for VVY, it is   ten years and for POMIS, it is five years. How 
much are the interest rates? For the first two,   interest rates are seven point four percent 
for the quarter one of 21, 22.

So what does   this mean? Can the government change these 
interest rates periodically, unfortunately,   answer is yes. Can they do a downward revision, 
yes, can also they do an upward revision, yes   okay, but, recent past may they have been in 
a downward trend okay but, still I can say   that seven point four percent right now is not 
bad at all, okay. When you get paid out is the   big question now, if you're talking about SCSS, 
you get paid out quarterly, for VVY, you get, you   have an option you can choose monthly, quarterly, 
half yearly, yearly whatever and for POMIS,   as it's a monthly income scheme, it will be paid 
out on a monthly basis.

Minimum deposit, maximum   deposit is very well mentioned in this table you 
can see here, minimum is 1000 and its multiples   maximum is 15 lakhs. For VVY, 1.5 lakhs for a 
yearly pension and 15 lakhs for a monthly pension,   for post office MIS, it's thousand and it's and 
it's multiples and for maximum amounts it is 4.5   lakhs if it's a single account and 9 lakh if it's 
a joint account. There are certain clauses about   withdrawal and penalty as well, if you want you 
can just press the pause button, read out the   penalty and withdrawal clauses and then again play 
okay. So it's nothing like to be taught as such.   For taxation, for SCSS, PMVVY both are eligible 
under ATC, for POMIS it's not eligible under ATC.   If you check out, for all these three schemes, the 
aim is common and what is the aim, aim is income   generation and corpus protection.

Is there 100% 
corpus protection, yes, because all three schemes   are somewhere related directly to post office or 
to the government, so it's as good as saying that   government defaulted ,very rare scenario right. So 
in this case, I can say that corpus protection is   absolutely guaranteed, so go back again to case a, 
b and c. To whom is this absolutely suitable for,   it is absolutely suitable for the case a 

Can case b, can Mr. B also invest   some part in this, absolutely yes, why not. A 
little less as compared to A and for c this,   can be a comparatively lower amount which 
can be invested in these three schemes. So I hope you have understood very well about 
the government schemes. Now let's move on to   investing in mutual funds. Ff you remember, I 
told you that depending on the risk appetite,   one can choose whether he should go for a debt 
fund or to a balanced fund, in that also we talked   about a conservative fund, you remember when I 
said 75 to 80 percent exposure will go to debt   ,only that balance small small portion to equity 
and the third one can be actually investing in   equity oriented funds but, that was for whom a? 
b? for c, because he had a lot of surplus corpus   as well right.

So let's understand one by one if 
I am talking again about Mr. A. is this option   available for him, none, neither debt, nor equity. 
Ideally, you should go ahead with a very safe   government scheme point only right. If I am 
talking about b, can b invest a part of his   corpus in debt funds, answer is yes, why not, he 
can do that. Now if he is interested in income   generation, what he can do is invest in debt 
fund and then go ahead with an SWP, what is SWP,   systematic withdrawal plan.

So like in SIP you 
transfer x amount monthly to that investment   that is mutual fund right, instead of investing 
monthly, here you withdraw monthly that is known   as a systematic withdrawal plan okay. So what is 
step number one, invest one chunk in debt fund   at one shot and keep on withdrawing part by part 
every month, that will give you a steady flow of   income per month right.

Possibility number two, 
if you want to go ahead with investing in equity,   now invest in equity was for whom ,ideally for 
Mr. C so now, let's understand how c will plan   his investment in equity mutual funds. Is he 
going to directly invest in equity mutual fund,   no understand how he would do it. So assume 
whatever chunk he has decided, first the entire   chunk will go in a debt mutual fund right and from 
the debt mutual fund, money will be systematically   transferred to the equity oriented mutual fund. 
So this is not called as an SWP, it is called   as an STP that is nothing but a systematic 
transfer plan.

So what will happen in this,   it is as good as an SIP only, but SIP is when? 
When you pay out of your own pocket every month,   in STP what happens, money has already gone out 
from your pocket you know it's there in the debt   fund, it's parked in the debt fund. Now money 
is only being transferred from a debt fund to   an equity fund. I hope you have understood what is 
a debt fund, who should invest in a debt fund. If   you remember we also talked about a conservative 
fund, a hybrid fund, we did talk about investing   in equity oriented mutual fund that was mainly for 
Mr. C, we also talked about SIP, SWP, STP wow, but   wait, still one big question remains how to choose 
which mutual fund, for that, I have a separate   course on magic of mutual funds so you can surely 
think about investing in this course, you'll get a   lot of knowledge about how to choose a mutual fund 
and so that you can invest with full confidence.

Let's move on with our last investment 
avenue, which is investing in equity,   my favorite one right. But then, is it 
applicable for Mr. A, no, b, no, for c,   yes. But then, how? Can you invest directly in 
equity ,that depends on whether that person has   that much knowledge on equity or not. If he does 
not have knowledge, he can acquire that as well.   I will definitely like to share a very nice 
experience which I had. So whoever enrolls for   my courses on various like basics of stock market, 
fundamental analysis, technical analysis whatever,   I do conduct a zoom meeting sessions every 
month with all these participants. There is   one participant named Shashi and she is I guess 
60 plus years. She has been a scientist, has zero   commerce background but then, post retirement she 
said, I would love to learn about stock markets.   She has learned a lot about stock market, she 
keeps on asking me questions every month and I   am so happy to answer her questions. That's how it 
shows that there is no age barrier for learning,   so if you still believe that you have that 
enthusiasm for learning, age is just a number,   right.

So, what you can do if you have that 
knowledge in stock market ,you can invest,   if you don't have, acquire the knowledge first and 
then invest in stock market but again coming back   to our case study, this one is not applicable for 
a, b it's applicable only for c. Next option can   be investing in Nifty bees. So if you don't know 
what are bees, what are Nifty bees, I have already   made a separate video on that. I have talked 
about various types of bees like gold bees,   Nifty bees, bank bees, in that video you will 
get a detailed input on what are nifty bees. You might stop working, but, your 
money might not stop working,   If, you have parked it efficiently.

I hope 
you have enjoyed this video. If you have,   don't forget to share it with your friends 
till then take care, Jai Hind and bye bye..

As found on YouTube

Retirement Planning Home

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How To Invest With NO MONEY Down: Turn $0 Into Infinite Returns -Robert Kiyosaki (Millennial Money)

– Hello, millennials and all generations. This is Millennial Money,
featuring Robert Kiyosaki. I'm your host, Alexandra Gonzalez. You know Robert as the best selling author of the number one personal
finance book of all time, "Rich Dad, Poor Dad." But I'm happy to announce
that Robert just released his brand new book, "Fake: Fake Money, Fake
Teachers, Fake Assets." You can get your copy
by following the link in the description below.

This topic was highly
requested by you guys. So, due to popular demand,
in today's Millennial Money, we'll be covering how to invest with OPM or other people's money. Here's how Robert explains OPM. – It was a long time ago
– Yeah. – when I first started Millennial Money, and I made my usual wise-ass remark, "Only lazy people use their own money." And that's because I have spent much of my life raising capital.

You know, today you have
crowdfunding and all that stuff, but the reason I had to
learn to raise money was because I had no money. And so, if you read "Rich Dad, Poor Dad," in there my rich dad always said, "Never say I can't afford it." And it was my rich dad and many of my teachers
subsequent to that, that said, "Lazy people
always say I can't afford it. "I don't have the money. "That's why they're poor." They have a poor mindset. So, instead of figuring
out how to raise money, it's just really easy to be a loser, and I call them losers. It pisses them off because
we all have the power, if we wanted to, to not be poor if we learned how to raise money. So, I hear, you know, and
the reason I get upset, I still get hot like this. (Alexandra laughs) My poor dad, my PhD Father, he always said to me, he says, "You know, I'd be a rich man
if I didn't have you kids." And I said, "Well, you know, dad, "it's not my fault you had kids." You know, I mean, "You know, I just can't afford
it because I have kids." And the more he said
that, the angrier I got.

So my rich dad, at age nine, he says, "Well, that's
why your old man's poor, "because he's lazy. "He thinks his PhD is gonna carry him." He says everybody can
say, "I don't have money. "I can't afford it." He says, "That's why he's poor. "He's lazy." But my father kept going
back to school, you know, Stanford University,
Chicago, Northwestern; he never learned any of this stuff. They still don't know it. Because most teachers want a
pay check, pension, and tenure. They want job security.

So the mindset is different. And that's what they teach the kids. – Next, Robert tells us
the number one phrase that keeps people poor. Now pause, I want you
to leave a comment below if you know what it is. Don't cheat. – So the reason I say only
lazy people use their own money is because it takes much more
intelligence to raise capital. And so I've never been able,
ever since my rich dad, since a little boy, my
rich dad forbade me from ever saying I can't afford it.

He says figure out how you can afford it. "How can you do something?" Figure out how you can do something. So, over my lifetime, most
of the projects I've started, I've never had any money. I like not having money, because it forces me to
think; I get creative. I have to educate myself, I
have to talk to rich guys. "How'd you do this? "How'd you do that? "How you do that?" And what has happened to me, and I just turned 72, I've never needed money. Because if I need money, I
figure out how to raise it. So today you guys have
crowdfunding and all that. I mean, I don't know what that stuff is.

But it's easy to say, "I can't afford it." All the poor people say,
"I can't afford it." All the poor people say,
"Well, let's tax the rich." All the poor people are saying, "Well, give me a free education,
free food, free schooling, "free manicures, free pedicures." There's laziness, my opinion. – One of my favorite
things that Robert teaches is how your mindset can
literally change everything. If you have an open mindset, you can really change your life. So Robert explains how his
mindset changed how he invests.

– So, you know, over my lifetime, I've raised hundreds
of millions of dollars. And it's because I didn't
have money as a young person that I learned how to raise capital. And it's really quite simple. You have to find an asset that's worth more than me, you know. If they can't invest in me,
because that's called slavery, you know, by me, you know? So what I do is, when I started off, I write about it in "Fake," I started off looking for this one little piece of real estate. I found an excuse, you know, this one bedroom, one bath
condominium on the beach in Maui. And I found an excuse for
people to give me the money. All I had to do is assure
them I'd pay them back.

So my first deal was an
infinite return deal. I had no money in the deal
because it was 100% debt. It was an $18,000 condo. You can't touch them
for that much any more, but the economy was bad. So I buy this $18,000 condo;
the guy wanted 10% down, you know? You don't need higher math. 10% of 18,000 is how much, sports fans? 1800 dollars. I could've use my money, I had the money. But that would be too easy. – Robert tells us lazy
people use their own money. Let's find out exactly
what he means by this. – Only lazy people use their own money and that's what really pissed
off a lot of people out there. Go, "You calling me lazy?" I said, "Yes, I am." Because you're the same
type of person will say, "I can't afford it.

"I can't do that." That's the problem. It's up here; it's a real
estate between this ear and that ear. "I can't do that." Most of my family say, "Oh,
yeah, I can't afford it." My father taught to say that;
my mother taught to say that. My rich dad said I should never say that. Let me ask you this question. You know, you work for
the Rich Dad company.

How much of my money is in this company? – Zero. – Zero. Zero. – When using OPM, one
question I had for Robert was what happens if the deal goes wrong? He answers by telling the story of one of his biggest mistakes. – So, the biggest mistake. So, I was doing very well here. This was 1973, I started
buying my first deal. And that was an $18,000 deal. $1800 down, $25 a month. Cash flow.
– Cash flow. – I was infinite. And then I kept doing that,
I had a lot of property. And then I decided I go here. So my first business was a nylon and Velcro surfer wallet business. And it didn't sell. So you know, everybody knows
what those wallets are today. But back then this is 1974 or five. Yeah, '75. They didn't know what the wallets were.

So we're going broke really fast. We bought 100,000 of
these wallets from Korea. We ship it to our
warehouse in Long Island, and we're borrowing
money from our investors. So we raised about $600,000; I got this little goofy
wallet business up. So we're in serious trouble. I owed my father about $200,000, my rich dad was laughing at me. We're going broke so quickly. Because we couldn't move the
wallets, a 100,000 of them. They were sitting on
this (murmurs) warehouse on Long Island. And nobody would buy them from us. So then the good thing about
stupidity, there it is, makes you smarter.

So I started thinking;
we started thinking. Said what's wrong? And I said, what was happening
in the world at that time, all the baby boomers are fat,
so they had to start running. So jogging was coming online, you know, and nobody jogged before. You know, so these guys are all jogging. And then we're reading the paper; we're sitting in Honolulu,
going broke fast. And we read the paper, this jogger went to Golden Gate Park in San Francisco and was jogging around the park. And what the jogger did was he had no place to put his car key. So what did they do? He puts it on the front tire of his car and goes for a jog around the parks; we're reading this newspaper. And voila, when he comes back to his car, the car wasn't there! – Oh, gosh. – So the guy says, "They stole my car!" – Oh, my goodness. – And so the question was, on the headline of the newspaper article, "What does a jogger do with their key?" And so we sat there, said,
"Oh, my God, a problem.

"A problem." So with that, I designed the shoe pocket and you can see this picture right here. It's Playboy magazine. I mean, she's nice looking
young model with nothing on but a shoe pocket. (Alexandra laughs) But anyway. So we're going broke so fast by then. But when that picture hit Playboy, suddenly, we were geniuses. And everybody started
throwing their money at us. And all this product,
our wallets were selling; our shoe pockets were selling. Investors were happy.

And the sales went through the roof. So we were extremely successful. So we went from risk,
stupid, smarter, successful. But the problem was how do
we finance our inventory? Because the demand was worldwide, and we couldn't keep up with demand. So I borrowed another $100,000. And I went to my CPA, my CFO, Stanley. So I said, "Stanley, will this $100,000 "solve our inventory problem?" He goes, "Yes, it will." So I gave Stanley the check. And he ran off with it. – Oh, my goodness. – I had no signed documentation; I turned it over to him.

He said I owed him the money. So that was one of my first, you know, six figure, seven figure mistakes. – This is another question all of you flooded our
comments with on YouTube, and all of Robert's social media. It's: what advice do
you have for millennials just starting out? Watch what Robert says. – Well, number one is investing; invest in what you love. I love business. I love real estate. I mean, I really love it;
I own this building here. And I love gold and silver. So I invest in what I love. Most people say, you
know, do what you love, but I'd rather invest in what I love. But I love being an
entrepreneur, I love investing. It's like Shark Tank to me. I'm always looking at new
businesses, new deals. It's just a game like this. You know, when you look at
the financial statement, that's like your scorecard.

It's like your golf scorecard
is your financial statement. But as you know, our schools teach us nothing about financial statements. – Finally, we wrap up
our discussion about OPM with Robert's final words for those of you that use the phrase, "I can't afford it" as an excuse not to invest. – But it goes back to
the original question: Why did I say only lazy
people use their own money? Because lazy people always
say, "I can't afford it." You know, "I can't do it." It's easy to say that. And that's why they're poor. It's harder to go raise a million dollars than to say, "I can't afford it." – All right, guys, that's it for today. But before you go, I
wanted to let you know of the new show we're
launching, Weird Money. And this is gonna be our host, Derek. – Howdy, guys, I'm Derek. I'm gonna be hosting Weird Money on the Rich Dad YouTube channel, and I look forward to
talking to all of you about the most bizarre and
out of this world parts of our financial institutions, the economy, jobs, all that sort of stuff.

And thank you, Alex, for introducing me. – Thanks, I'm really
looking forward to it. And well, guys, don't forget to subscribe and hit the notification
bell if you wanna be notified on this new show. Bye, guys, see you later. (upbeat music).

As found on YouTube

401K to Gold IRA Rollover

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Day 2: Abundance Awareness | Wealth Affirmations | Yes I am Positive

welcome to day two of wealth mastery abundance 
means plenty or a very large quantity of something   having abundance goes beyond money or material 
things it's tapping into the awareness that in   nature there is a wealth of everything nature is 
always replenishing itself it's a feeling of being   connected to that wealth and the feeling that we 
have and deserve an abundance of everything from   love to health and wealth it's about what brings 
us joy and fulfillment so how do we create this   abundant mindset millionaire mind author t harv 
ecker says if you want to change the fruits you   will first have to change the roots if you want 
to change the visible you must first change the   invisible that invisible is what happens between 
our ears in our consciousness and subconsciousness   this can sometimes be a daunting task 
especially if we've made a long time   habit of worrying about money often this mindset 
comes from how we were raised and our family's   attitude and feeling about money awareness 
is the first step to changing paying close   attention to our thoughts and becoming aware of 
our constant negative self-talk that so many of us   engage in becoming the witness to our thoughts and 
questioning the source of these beliefs we have   is paramount so we can then start to change them 
when we shift our thinking focusing on possibility   instead of scarcity there is an energetic shift 
it's important to start visualizing and feeling   what it would be like to have an abundant life 
filled with wonderful people satisfying work   and a sense of purpose as we make this positive 
change we are on the path to mastering wealth so we'll focus today's affirmation 
meditation to instill abundance let's take a moment to center ourselves   and find a comfortable sitting 
position either on a chair or stool and become aware of your back that it's straight and yet relaxed release any tension in your shoulders and when you're ready allow your eyes to close breathe in slowly and deeply in and out in and out now let's take a moment to 
tense and release our muscles   starting from our shoulders tense and release our arms tense and release and our hands tense and release now our legs tense and release calves tense and release 
feeling your whole body relax your mind and heart opening now see yourself bathed in a soothing white light 
from the top of your head down over your neck your shoulders your arms your legs past your knees and all the 
way to the soles of your feet and allow this white light to help 
you feel safe and open to receive now let's take a deep breath in through our 
nose for five hold for two and then breathe   out through our mouths for five breathe 
again one two three four five hold one two   and release two three four five now repeat 
after me i have a great relationship with money i am worthy of being abundant 
in every part of my life abundance opportunities are always coming to me i deserve to be wealthy and abundant let's breathe in again for 
two three four five hold   one two and release two three four five now repeat 
after me i am open and receptive to all abundance i produce financial abundance doing what i love i fully believe in my ability to attract money i am aligned with the energy of abundance   let's breathe in again for two three four 
five hold one two and release two three   four five and repeat after me i am so 
grateful for my abundant prosperous life i am free of fear and lack consciousness i naturally attract money and material abundance 
i love to share all my abundance and wealth and let's end our meditation by 
placing our hands on our hearts   and affirming ourselves with the 
words i am the master of my mind i am the master of my heart i am the master of my body i am the master of my life and so it is congratulations on completing day 
two of wealth mastery abundance is your birthright   so take these affirmations with you into the world 
and feel good about yourself feel good about money   and draw it to you like a magnet 
until tomorrow be abundant and well

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Why Some Retirees Succeed and Others Live in Worry – 5 Retirement Truths

I want to share one of the most valuable pieces of retirement advice that I've ever heard if you're thinking about your retirement and you're wondering if you're doing the right thing or think that you should be doing something different or if you're just worried about all the things going on right now whether it's the economy or the markets or the value of your accounts be sure to watch this video because I'm going to share the retirement truths that every retiree goes through and it's these things right here we're going to cover today and every retiree goes through it and it they experience this in retirement so it's going to go over this and then also what to expect in retirement and then how to give yourself the best chances of maintaining your lifestyle in retirement as well now the negative of these retirement truths that we're going to look at is that many of them lead to increased uncertainty or worry about your retirement one of our goals though as we're thinking about it is really the opposite of uncertainty or worry in retirement it really should be more about confidence right the next years really all the way up until you pass away wait these are the the magic ears these could be the best years of your life and I know that because there's an actual study a research study uh proving this so let me pull that up really quick and show you the results and I'll link to it below people were asked to score their life satisfaction from zero to ten where 10 is the best possible life and then zero is the worst possible life and this is really just the average score by age and I thought it was encouraging to see that life satisfaction tends to increase as you can see as we get older and then it tends to Trail off as we get older but really the area the the period of time we want to focus on is that this is the magic time and we know this to be true as well because we've helped hundreds of pre-retirees move into retirement with confidence and excitement and these were the people who were coming to us that were feeling somewhat unsure or not 100 confident with their money plan and our firm streamline Financial has been around for 24 years and we've made it through quite a few bad Market periods with our clients and by the way if I haven't met you yet I'm Dave zoller and I own streamline Financial with Tim and Luke and Sean and if you're working with an advisor now that's mainly focused on investments and investment planning but doesn't talk about these key retirement strategies like the tax efficient withdrawal planning and income planning or just tax reduction overall feel free to reach out to us through the website now we don't always have time but I'll get back to you either way so let's get into this first truth in retirement it will be common to have that thought of maybe I should be be making a change or should I be doing something different it'll be normal to feel this way in retirement especially when you see the news or you're listening to friends talk about their finances there's this feeling or this thought of really making us doubt our current plan which causes some people to make more emotional decisions instead of making smart financial decisions and a good way to avoid this is really to avoid this feeling is by having an understanding of your plan which really leads to more confidence with what you're doing and having a plan for both the good times and also the bad Mark of times so that you know that you're prepared for either one of those and I'll give you some ways to achieve this coming up in this video now on to the second thing that comes up in retirement that we just have to be prepared for is we need to expect bear markets right you've most likely lived through a lot of them already and really in retirement though they feel a little bit different usually worse but because of the frequency creating a plan with bear markets in mind and really big Corrections built into the plan is a smart thing to do that way you don't have to worry when they eventually come now if you're not sure how to model out these various what-if scenarios or bad Market scenarios for your plan then you may want to talk to a cfp or check out my favorite retirement income planner below this video you should see a link to it it's one of the best consumer facing planners that I've seen and it doesn't cost thousands of dollars like the ones that we use for our clients the next thing to bring up is for pre-retirees who are close to stopping their wage especially if that's during bad markets they may think should I work a little bit longer maybe just one more year to kind of make it through this this difficult period we actually had a client call us up about five months ago and uh no she was five months into retirement and she said something like it seems like so much bad news is out there and what's going on with the markets I'm wondering if I it would have been better if I should have just kept working so we reviewed her plan and because we built in to her plan this expectation of bad markets everything looked great and and really the only reason to keep working would be if she really enjoyed this sort of work that she was doing and it brought her some some purpose but she didn't so it was great it was great confirmation that she was still on the right track so if this sounds like you take a look at another video I recorded I'm gonna either link on this screen or it'll be below and it gives a few real examples of what working an extra year might look like in a financial plan the next thing to know is that no one really knows what's going to happen next it seems like everybody has a prediction on TV or YouTube or at the dinner table with family or with friends and no one really knows what is definitely going to happen we know this uh in a logical way because you know there's that saying if you put 10 economists in the room together and they come up they need to come up with a conclusion they'll come up with 12 of different answers when they walk out knowing that it's important to prepare your investment plan for that four economic Seasons that we may go through in the future since we don't know which one we're going to go through next so just as as an example you've seen it before the four economic seasons are higher than expected economic growth or lower than expected economic growth and then higher than expected inflation or lower than expected inflation and there's asset classes that can do well in each one of those now again we don't know which way we're headed but having asset classes and each one of those potential Seasons that could be beneficial now that's just my opinion and really it's for all of this talk to your own Financial professionals before doing anything like this now on to the next one which really has more to do with human psychology than investment strategy and then after that I'll share the the really the most helpful piece of advice that I've heard related to retirement planning but if you'd like this so far please click on the the like button and and maybe this video can help somebody else going through the same things that that you're looking forward to so the next truth is in retirement we may have a tendency to compare ourselves to others the grass is always greener on the other side of the fence really throughout life that's we've got that tendency to compare it to others but it can harm us in retirement too if we do a video on this channel that mentions a dollar amount as an example we don't want that to really make you feel better or feel worse about your current situation because you know we help high net worth families at streamline Financial we sometimes mention big numbers but we don't want it to be about the numbers we really want to communicate just the principles and the strategies that can can really be applied to to anybody's finances and there's always going to be people with more than us and then there's always going to be people with less than us and the one who wins is the one who's content and at peace most at peace with their current situation you know that saying if I want to be able to practice being content with a little and I want to be able to practice being content with a lot and and you know healthy competition that's okay but comparing ourselves to someone else because uh you know if it causes us a feel of lack or less than that can hurt our retirement plans because that leads really back to that first point that we talked about in uh in this list of feeling like we should be doing something different for example if we see a guy on the internet and he's investing a certain way or he's deciding he's changing up his entire strategy um because of what's happening with the economy then that may cause us to feel like we should be doing something different and then start to increase the emotional level of uh of our decision making instead of staying to strictly logical or financial levels but again it's a normal feeling to feel that worry or fear or anxiety um with what's happening during during current periods but one of the most helpful pieces of advice that I've heard that we can apply to retirement planning is really the difference between those two words fear and anxiety knowing the difference between those two is actually very very helpful as we're planning retirement and talking about money that is if we want to feel better about what we're doing right now when we think about fear and anxiety we might think of them as being the same thing but actually they're completely different things and let me just pull up these two definitions if I can really quickly fear is a caution over a real and present danger and then anxiety is a worry over an imagined future danger now fear if we've got something right in front of us then it's obviously a very helpful tool for us as humans anxiety though is not always a helpful tool as as we're trying to process things partly because these anxieties there's nothing we can do to control or influence them you may have seen this drawing from Carl Richards before about things that matter and then things I can control here's a place to focus and then another way to look at it is we actually sent this to clients not too long ago on a video of what you can't control and what you can control so we can't control the markets and inflation and what they're doing with interest rates or what's happening in the news or the world or tax laws or the elections but a lot of these things actually do relate to things that we can control for instance you know markets are inflation or interest rates your portfolio allocation you can control that you can control when to pay taxes when it's related to in investing you know as we're talking about Roth conversions or the the costs the tax cost tax drag on some of the portfolio and not to get too nerdy about these things but two of the biggest things that we've seen is this idea of not controlling the news but what we can control is news consumption we've seen a big shift with uh some people who instead of someone who wants to consume the news they switch from TV news to reading news where you have a little bit more control of what's coming at you versus TV is just the next thing is coming at you if you know what I mean I don't know if that's if I if I'm explaining that the right way but back to the this video all the things that we mentioned before earlier here um a lot of these can be anxiety-inducing things as well right the severity of a bear Market or not being able to predict what's going to happen next in the world or comparing ourselves and doubting our plan or thinking that we don't have as much as as we wish we had when it comes to to money or the you know what if this happens and what if this happens how is that going to impact my plan and that can lead that sort of thinking can lead to paralysis and really no action being taken but what if you had a plan that was built in to show those different what-if scenarios so instead of the unknown future danger you're able to get more concrete scenarios in the plan as a result that's what I would recommend once you get get it out in the open then it becomes a lot less scary we both know that so either find a great certified financial planner who can show you that and show you the what-if scenarios or check out the the DIY planner or a different planner that helps you put in those what-if scenarios as well so it becomes less scary so don't forget anxiety is it can be the thief of Dreams it takes you away from enjoying the the present moment and it stops you from even taking the right action to make things better in the future because it really just makes you only focused on on the negative as you're you're moving through life that video that I mentioned earlier is called why delaying retirement might not be a good idea if you're pre-retirement and you're thinking you want to work a little bit longer because of what's going on take a look at that one coming up next or below and then I'll see you in the next video take care foreign [Music]

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Why This Investment System Can Help Retirees Worry Less About Their Retirement Plan

I want to share an investment system for retirees to hopefully assist you as you're thinking about and planning for your retirement we're also going to look at how to prepare your retirement for the multiple potential potential economic Seasons that we may be headed into so we want to look at the multiple seasons and then the Easy System that's going to help lower taxes and then lower risk as well now if I haven't met you yet I'm Dave zoller and we help people plan for and Implement these retirement strategies really for a select number of people at streamline Financial that's our retirement planning firm but because we can't help everyone we want to share this with you as well so if you like retirement specific videos about one per week be sure to subscribe so in order to create a proper investment plan in system we want to make sure that we build out the retirement income plan first because without the income plan it's much harder to design the right investment strategy it's kind of like without the income plan it's like you're guessing at well 60 40 portfolio sounds good or you know May maybe this amount in the conservative bucket sounds reasonable you already know and and you feel that as you get close to retirement that goal of just more money isn't the the end-all goal that we should really be aiming for for retirement it's more about sustainability and certainty and then really the certainty of income and possibly less risk than before the last 30 years uh the things that you did to be successful with the financial side are going to look different than the next 20 or 30 years now if you need help defining the the income plan a little bit then look at the DIY retirement course below this video now once you do Define your goals for retirement and then the income needed to achieve those goals then creating the investment system becomes a lot easier and within the investment plan we really know that we can only control three things in all three things we actually want to minimize through this investment system the first thing we can minimize or reduce is how much tax you pay when investing we had a a client who was not a client of streamline Financial but of a tax firm coming to the the CPA firm in March to pick up his tax return and he was completely surprised that he had sixty thousand dollars of extra income on his tax return that he had to pay tax on right away before April 15th and it was due to the capital gains being recognized and other distributions within his investment account and he said but I didn't sell anything and the account didn't even go up that much last year and I got to pay tax on it but he was already in the highest tax bracket paying about close to 37 percent on short-term capital gains and dividends and interest so that was an unpleasant surprise and we see it happen more often than it should but this can really be avoided and here's two ways we can control tax so that we don't have to have that happen and really just control tax and pay less of it is the goal and I'll keep this at a high level but it'll get the the point across number one is the kinds of Investments that you own some are maybe funds or ETFs or individual uh equities or things like that the funds and ETFs they could pass on capital gains and and distributions to you each year without you even doing anything without you selling or or buying but it happens within the fund a lot of times now we would use funds and ETFs that are considered tax efficient so that our clients they can decide when to recognize gains rather than letting the fund company decide now the second way is by using a strategy that's called tlh each year there's many many fluctuations or big fluctuations that happen in an investment account and the strategy that we call tlh that allows our clients that's tax loss harvesting it allows them to sell an investment that may be down for part of the year and then move it into a very similar investment right away so that the investment strategy stays the same and they can actually take a write-off on that loss on their taxes that year now there's some rules around this again we're going high level but it offsets uh you know for that one client who are not a client but who had the big sixty thousand dollars of income he could have been offsetting those capital gains by doing tlh or tax loss harvesting that strategy has really saved hundreds and thousands of of dollars for clients over a period of years so on to the next thing that we can control in our investment plan and that's cost this one's easier but many advisors they don't do it because it ends up paying them less now since we're certified financial planner professionals we do follow the fiduciary standard and we're obligated to do what's best for our clients so tell me this if you had two Investments and they had the exact same strategy the same Returns the same risk and the same tax efficiency would you rather want the one that costs 0.05 percent per year or the one that costs 12 times more at point six percent well I know that answer is obvious and we'd go with a lower cost funds if it was all the same low-cost funds and ETFs that's how we can really help reduce the cost or that's how you can help reduce the cost in your investment plan because every basis point or part of a percentage that's saved in cost it's added to your return each year and this adds up to a lot over time now the last thing that we want to minimize and control is risk and we already talked about the flaws of investing solely based on on risk tolerance and when it comes to risk a lot of people think that term risk tolerance you know how much risk can we on a scale of one to ten where are we on the the risk factor but there's another way to look at risk in your investment strategy and like King Solomon we believe that there's a season for everything or like the if it was the bird song There's a season for everything and we also believe that there's four different seasons in investing and depending on what season we're in some Investments perform better than others and the Four Seasons are pull it up right now it's higher than expected inflation which we might be feeling but there's also a season that can be lower than expected or deflation and then there's higher than expected economic growth or lower than expected economic growth and the goal is reduce the risk in investing by making sure that we're prepared for each and every one of those potential Seasons because there are individual asset classes that tend to do well during each one of those seasons and we don't know nobody knows what's really going to happen you know people would would speculate and say oh it's going to be this or this or whatever might happen but we don't know for sure that's why we want to make sure we just have the asset classes in the right spots so that the income plan doesn't get impacted so the investment system combined with the income system clients don't have to worry about the movements in the market because they know they've got enough to weather any potential season I hope this has been helpful for you so far as you're thinking about your retirement if it was please subscribe or like this video so that hopefully other people can be helped as well and then I'll see you in the next one take care thank you

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How to Make $100 Per Month in Dividends #shorts

if you want to make a hundred bucks a 
month in dividends it is going to take   quite the investment to get to that point 
but if you want to know how much you need   invested i'm going to show you how to do the 
math because it is fairly straightforward   the first thing you need to do in your calculator 
is turn the monthly amount into a yearly amount   so if you want to make a hundred bucks a month 
just take a hundred and multiply that by 12   meaning 12 months in a year and you're going to 
get 1200 bucks which is the annual amount that   you want to be making in dividends now just look 
up any stock that pays out a dividend and find   their dividend yield so in this case coca-cola 
is paying out a current dividend yield of 2.59   now just go back into your calculator and 
take your yearly amount which was 1200   and divide that by .0259 in the calculator 
and that is going to give you 46 332 bucks   that you need to invest today in order to make 
100 bucks a month in dividends through coca-cola

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As promised, here is the second part of The Wealth of Nations, one of the most influential books ever written about economics If you haven't watched the first part yet I'd advise you to do that now, as some of the takeaways here build on those from the previous part Let's continue where we left last time … Takeaway number 6: Accumulation and employment of capital What's the similarity between Michael and a country like the US, China or Sweden? It is that they get wealthy in the same way Allow me to introduce The Swedish Investor's "Stairway to Money" All copyrighted and original content, of course Each different step represents a category that an individual can spend money on To become wealthy a person wants to spend money on the higher steps and not the lower ones At the bottom, we have services meant for consumption These are the worst things that you can spend your money on, as you'll consume them instantly Vacations, dinners and video on demand all belong to this category The next worst thing to direct your money towards is products meant for consumption Products depreciating value from the time of purchase, but at least they're not as bad as services because you will still be able to sell them at a later stage, even though it may only be at a fraction of their original value Cars, clothes and phones belong to this category Then we have products that do not depreciate in value and that often keep their value through inflation Important entries in this category are collectibles and a house to live in And at the top, we have investments This is a very broad category indeed, and anything which is expected to generate more cash in the future than the outlay of money is today, plus a reasonable return, belongs here Therefore – starting a business, educating yourself, investing in the stock market, or renting out properties all belong here It's the same with countries If a country buys services from another country, money flows right out from it without being replaced with something else that is valuable If a country buys products from another country, at least some of the value is still preserved as products can be sold again at a later stage It is similar with a third step in our Stairway to Money A country gets rich by increasing its own productivity by starting businesses there, by educating its people so that their skill and dexterity increases, or by buying productive assets from other countries BUT …

… and this is unimportant but Neither people nor nations should be afraid of having expenses just because of this Both people and nations, if they want to acquire wealth, should focus on what they are naturally good at and then outsource the rest This is what we shall focus on next Takeaway number 7: Globalization – the shortcut to increased wealth Here we have. Michael Lewis, a 32 years old engineer He's working at a job where he's paid a base monthly salary, but he's also compensated for overtime For overtime hours, he nets approximately $30 per hour Given this, here comes a few questions for you: Should michael cook his own food? Should michael clean his own house? And, sorry now i'm getting a bit silly just to prove a point here, should michael build his own phone instead of buying one from apple? From a wealth standpoint the answer is no to all of these questions It makes sense for Michael to do what he is best at, earning money from that and then hire other people to do what they are best at for everything else that he demands Perhaps Michael can cook his own food, but it takes him about an hour to prep a single meal, which means that he does so at a cost of $30, because he could have spent that time working as an engineer Therefore, it doesn't make sense for him to do it as he can just buy a meal outside for $15 Similarly, he can clean his own house, but it takes him 2 hours to do So that's $60 for Michael, while he can hire someone to do it for $40 And as an engineer, he is capable of building his own phone, but it might take him something like 200 hours plus $200 in materials That's a $6,200 phone! Why not just go buy the latest IPhone for $1,000? If it doesn't make sense to do something at 6 times the price it doesn't make sense to do so at 2 times the price, and probably not at 1.5 times the price either It is the same with nations For nations to increase their wealth, they should be focusing on the things that they are really good at, and then hire other nations to do what they are best at For example ..

The US is obviously a leader in many different businesses, but among others, in the fast food and entertainment industry China is incredible at producing most products at very low prices And in Sweden, we are quite good at producing furniture … … sorry, I mean at making everyone else produce furniture for themselves, of course Now, should Sweden try to produce the same products that China can produce much cheaper? No. Should China compete head-to-head with Hollywood? Probably not. Should the US have everyone produce furniture for themselves? Definitely not! All these countries can be more productive, and in that increase their wealth, by simply doing what they are best at, and then trade goods with each other Also, to make another comparison between individuals and countries in their quest for wealth: Both of them will earn more by having rich neighbors or acquaintances People know that if they want to be rich, they should move where other people are rich And probably even more importantly – they should acquire rich friends It's the same with nations A country should want their neighbors and trading partners to be wealthy, because eventually that wealth will spill over to them, too Just look at this map But we've been getting this backwards for centuries now In the 18th century, Great Britain and France, probably the two wealthiest countries in Europe at that time, did everything they could to make business miserable for each other instead of cooperating They even went to war with each other! Today, let's hope that the two most important economies of our time, the US and China, don't make that same mistake Takeaway number 8: Why free trade is superior, and why governments shouldn't interfere As we talked about in the previous video – in a capitalistic society, money will naturally flow where the returns are higher and disappear from where their returns are lower In a society where the government does not interfere, two rules will guide capital – Capital is naturally employed where it can produce the greatest returns This is actually a good thing, because businesses like these are more sustainable than anything else They will employ people where there is demand and a real competitive advantage – Capital is also naturally employed in the home market, as this comes with less risk This is also good, because it creates working opportunities in the own country For these two reasons, it is totally unproductive when governments interfere with the market Just as an imaginary example: Say that we, in Sweden, would do something as silly as setting up a ban on movies created in Hollywood What would happen when such a ban is introduced? Excluding potential retaliation, it will yield higher profits for the film industry in Sweden than what would naturally be the case Therefore, more capital will be incentivized to flow to this industry But this business still isn't competitive on a global scale.

Everywhere else than in Sweden, people will still watch movies from Hollywood! Moreover – the capital in Sweden which goes towards the creation of film is capital that could have been directed towards something where Sweden is competitive on a global scale, like the previously mentioned furniture Generally, politicians must have a small dose of God Complex if they think that they are smarter than the aggregated thinking of the market when it comes to capital allocation decisions in businesses There are two examples when it might be necessary to introduce duties, bans and tariffs though: – For goods that are important for the defense or survival of the country – And when a tax is imposed even on such domestically produced goods You don't want to shift the favor to the foreign goods, at the very least Apart from that, governments should probably stay away from using duties, bans and tariffs on foreign goods They should not incentivize certain industries or disincentivize others, because the market is likely to do this very well on its own, thanks to the before mention two There are a few areas where a government is absolutely necessary for the wealth of a nation though, and that is what we shall cover in the next takeaway Takeaway number 9: What is the purpose of a government? According to Adam Smith, there are some tasks in a society that the market and private people have little or no interest in solving The four that Smith discusses are: – The defense of a country – The justice system – Some type of infrastructure – And basic education The defense of a country is absolutely necessary for its wealth to increase Interestingly enough, a country is more and more likely to be invaded the richer it is Or so it was in the old days at least ..

Consider the raids of Genghis Khan and his Mongolian savages of the much wealthiest cities of China Or how the vikings invaded many much more established societies in Europe The savages actually had the advantage at this time, as they were much more skilled fighters But that all changed with the invention of the firearms Firearms were expensive to make, and no matter how skilled an army of spears and bows were, it couldn't beat one equipped with firearms And so, the odds changed in the favor of the wealthy nations, who could afford these supreme weapons Anyways …

A nation must be able to defend itself to sustain its wealth And as this benefits everyone in a society, it does make sense that a government has the responsibility of this task Justice, is similarly an expense that benefits everyone in a society In the old days, justice was often exercised by those in power, but one can easily understand how such a system can be very corrupt It is essential that justice and power are separated. Otherwise – who should bring justice to those in command? Similarly, a justice system that is based on profits tend to be very corrupt too, so it doesn't lend itself well to the free markets It used to be like this too, everyone that wanted justice had to bring a gift to the judges As you can probably imagine, the person who brought the greatest gift tended to get a little bit more "justice" than everyone else … So to speak. Therefore, the task of bringing justice to its people should be paid for by a government But those that use the justice system often should probably pay extra for that Infrastructure, such as the most important roads and docks used for commerce of a country, is something that benefits everyone too But it doesn't invite the same conflict of interest as the justice system does, and should thereby often be held privately Infrastructure should be financed with revenue from the commerce which can be carried by means of it.

Because in this way, money will much more seldom be wasted on infrastructure projects Some infrastructure projects can be important without being profitable, but in that case they should often come with a local tax, not a national one Without some type of basic education being free and probably also mandatory, some of the country's inhabitants, those that are born into poverty, will most likely never learn how to read write or count Such inhabitants are unlikely to increase the productivity of a nation Therefore, we want to avoid that this happens A benefit such as learning to read, write and count benefits everyone and it should be one of the purposes of the government of making sure that this is done Takeaway number 10: How should a government be financed? So ..

With defense, justice, infrastructure and education, a publicly financed government seems to be the most fair and logical solution But there are many different options of financing something, and some are definitely better than others Here are 4 principles for creating good taxes: Equality Each person should contribute in proportion to his or her abilities and in proportion to the revenue which he earns under the protection of the state It is difficult to make sure that the wages, profits and rents (the three sources of income which we discussed in the previous video) are all taxed equally, but they should at the very least be taxed equally individually Certainty Time, quantity and manner of payment must always be clear This is probably the most important principle.

A little bit of uncertainty is worse than a great deal of inequality Uncertainty leads to the potential corruption of the tax gatherer Convenience Taxes should be due when the contributor is most likely to be able to pay The consumer pays whenever he consumes a service or product, and the wage earner should pay taxes as soon as he gets the wage, not at some other time when he might already have spent it all Efficiency A tax may never be more burdensome to the people than it is beneficial to the government For instance … – As few people as possible should be required for gathering the tax – A tax should never discourage industry – And the degree of visits and examinations of the people shouldn't make them feel oppressed With these 4 principles in mind, i'd like to ask you a question: Do you think that it is a good idea for a country to have a wealth tax? In other words, a tax which is in proportion to the total assets of private people. Please comment with your answer down below! Alright, that's it for Adam Smith's Wealth of Nations Here are two unusual recommendations for further watching from other channels: You can watch me doing the Navy Seal's screening test for eight hours, if you want to watch me in a lot of physical pain Or, you could watch this summary of 79 of my book summaries Cheers guys!

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How a pre-retirement checklist can help you prepare

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Investing in Gold with a Self-Directed Gold IRA | Madison Trust

in today's video you'll learn all about investing in gold with a self-directed gold [Music] Ira in the past investing in gold may have seemed unattainable with a self-directed gold Ira it can be your reality a self-directed gold Ira is a lot like a standard Ira once you open and funded your Investments can grow over time the difference however is that a self-directed IRA allows you to invest Beyond Wall Street in alternative assets including precious metals like gold by leveraging the power of a self-directed gold Ira to invest in gold for retirement you can hedge against inflation history has shown that when the buying power of the dollar decreases the value of gold often increases for this reason investing in gold is typically beneficial during periods of high inflation past generational wealth if you look back in time you'll find that gold has historically kept its value because of this many see gold as a way to pass wealth to the Next Generation in your family diversify your retirement portfolio why put all your eggs in one basket if you don't have to Gold can allow you to diversify your retirement portfolio when the value of stocks and bonds fall gold tends to increase in value enjoy liquidity gold and other precious metals are typically viewed as highly liquid assets you can generally convert gold into cash when you need to receive tax advantages depending on the type of self-directed gold Ira you choose to open you can enjoy either tax deferred growth self-directed traditional IRA or tax-free growth self-directed Roth IRA for your gold Investments gold is just one type of precious metal you can invest in through a self-directed gold Ira you can also invest in silver platinum and Palladium just keep in mind that these metals have certain finess requirements as per the IRS also any metals that are minted by the US government such as American Eagle coins are exempt from finest requirements are you ready for the golden opportunity to grow your retirement savings with a gold Ira our dedicated self Ira Specialists are here to answer any questions you may have about investing in gold with a self-directed gold Ira call us today experience exceptional service for your exciting opportunities at Madison Trust

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What is a precious metals IRA

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