Tag: Money Management
Tony Robbins: How Millennials Can Retire Rich
Jason 0 Comments Retire Wealthy
Oftentimes people tell me, “You know, I don’t have any money, so I really don’t know where to go. I don’t know what to start, I got to wait to have a lot of money before I begin.” That is the biggest mistake you can make. So let’s say you’re a young millennial or even Z generation come along and you’re saying, “I really want to be financially free but I don’t have any money.” You don’t need a lot of money.
You have the greatest gift on earth: time and compounding. When they asked Warren Buffett, “What made you a wealthy man?” He said, “Good genetics, time and compounding.” So what does that mean? If you could commit at 19 years old to just put $300 aside, forget the $1,000, yes, you can invest $1,000, but what you want is consistency. Let’s say you put $300 a month aside. It might sound like a lot to start with, but you’ll get used to it. You get it so it’s automatic deposit, let’s say it goes straight in the market. And the market over 100 years has gone up 10 percent over recent years, let’s say 8 percent compounded. If you take the lower number, the 8 percent and you only go to twenty seven years old and you stop, you’ve put in roughly $38,000 into that. It’ll grow to $million dollars. That’s the power of compounding. You put a little in and you got a huge return because you had time. If your best friend comes in and says at twenty seven, when you stop investing, “I’ve never done this, I should do it.” And they put 300 dollars a month in every year ’til they’re sixty five have less money because you have a little more time.
They’ll have $million dollars. Still not bad. They only put $150,000 in over a lifetime and they got $million. Pretty good deal. That’s what compounding means. You’ve got to get in the game. You’ve got to become an owner, not a consumer. That will change your life. .
As found on Youtube
Read MoreLife of Debt? How to: Obliterate Debt, Accumulate Wealth, and Retire Rich | Learn Liberty
Jason 0 Comments Retire Wealthy
It is an abomination. The Department of Education is a profit-making entity. Student loan debt now exceeds credit card debt. More than a third of college loans are delinquent. Forget about delinquencies. Let’s talk about default rates. The federal government is now hiring private creditors to harass students to pay back their federally subsidized loans. It’s a complete nightmare.” If you’re in your twenties or thirties, then you or someone you know is probably struggling with debt.
To top it off, the government owes about seventeen trillion dollars. Fifty thousand dollars for every man, woman, and child. That’s irresponsible! And you’re going to have to pay taxes to pay off that debt, too. It’s no wonder you’re being referred to as Generation Debt. The question is, is there anything you can do about it? Is there a way to dig out of this hole? I’m Art Carden. I’m an economics professor at Samford University’s Brock School of Business. In this Learn Liberty Academy program on personal finance, designed just for you, we’ll learn how to obliterate debt, accumulate wealth, and retire rich. I’m sure you’re wondering, ‘Hey, what’s the catch? Do I need to send this guy three easy payments of nineteen dollars and ninety-five cents?’ No.
This is a program that’s going to cost you zero dollars. And I hope that you’ll join me, and a group of other experts and guests, as we discuss how to build your financial future. Seriously, you need to sign up for this right now, because this program is going to be awesome. .
As found on Youtube
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