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The Jewish Secret To Wealth | IN GOD WE TEST | Full Movie

The Jewish people have always had
a peculiar relationship with money. Their Torah recounts tales of men accumulating fortunes
of biblical proportion. When God took his people out of Egypt,
he brought them to the foot of Mount Sinai and revealed to them secrets,
one of which was the secret to wealth. Throughout the ages, the world could not help but admire the
Jewish people for their business powers. Admittedly,
in some generations the admiration turned to hatred and became an excuse
to commit unspeakable atrocities. Their greatest critics will say that they control the banks, the media
and financial markets. Is it all just a coincidence? There is no denying that this ancient
people possess a secret to the accumulation of riches
that is defying the rule of nature.

Alas! What is that great secret? In God we test I've always been fascinated with money. Even since I was a kid. I remember that I had this picture book
when I was younger that inside of it, instead of putting photos,
I would put bills. $5 bills, $10 bills. As I grew up, I would read any business
book that I could get my hands on. And I'd also listen to any positive
thinking guru that I could find. I guess you could say I've
always been a student of money. What is their secret There is a secret to wealth that the Jewish people have
known for thousands of years. It was hidden inside of the Bible and was not ready to come out until this
very last generation. You see, we're all ruled by one power, by one force, by one Creator,
and we all are subject to His laws. And when we know how to apply that to our lives, we're able to unleash wealth
that we never thought possible.

The Jewish secret to wealth is
Charity, in Hebrew called Tzedakah. Tzedakah The big, big, big key is the Tzedakah. Giving the money actually
gives us back more. Because I prioritize
giving. God prioritizes me. The key secret is my charity that I give. Tzedakah plays an intricate role in my everyday life and decisions
that I make within my life. Si quieres ganar, tienes que dar (If you want to earn, you need to give) Generous people are
more successful people.

Zohar says, open up for me a vessel like the eye of a needle, and I'll
fit an elephant through it. Forget what you think is possible Now, this goes against all logic. According to simple math. If a person has ten of something and they take one and give it away,
they're left with nine. Imagine a pie that you have
in front of you, okay? Someone gives you a beautiful apple pie that you love, but that's the amount
of money that you've earned during the year that you worked hard for,
that you sweated with.

You've got receivables and payables
and staff and finding clients. We're sweating for our money,
and that money is that pie. The idea of giving away one or two slices away Hashem has ways to give you
back those two slices and more. What we're talking about here
does not go according to nature. We are talking about a secret code that the Creator of the universe himself
embedded into the fabric of the universe. We're not talking about karma, that if
you do good, you're going to get good. No! We're talking about
a hack in the matrix. When God sees that a Jew is generous with charity, He is generous with him. Instead of four times, he receives five times the amount – and many times more.

Along with the abundance of good which he receives from above, he is also blessed with the success of using it for only good things, amidst health and joy, for purposes of Torah and Judaism, with joy and gladness. When I came home from yeshiva,
I went back to work. The Rabbi from my synagogue came, and he asked for a pledge
for the following year. He asked me for $18,000,
which is roughly $1,500 a month. And that's what I owed
at that time for charity. So I gladly said yes. By the end of the year,
I fulfilled the pledge, but again, didn't think too much about it.

That next
year I left my family business, and I went to go start my own
company from absolutely scratch. Right before Rosh Hashana, the Rabbi came to my new office
to pledge me, as he does every year. And when he walked into the room,
his face turned white. He was used to seeing me in a big fancy office with a big mahogany
desk with a big corner view. And that year he walked in and I was alone in a dingy office sitting on a $10 Walmart
chair and those white folding tables. That year I was expecting
the Rabbi to go easy on me. He sits down at the table and he says
to me: "This year I'm not going to ask you for 18,000, but this year
I'll ask you double $36,000." I went into a trance. The Rabbi froze in front of me.

It was just me, myself and God. And at first I was angry. I was saying to myself,
how could he do this to me? He knows that I'm starting fresh. He knows how hard it is. How could he ask such a big ask? But then I thought to myself, if this is all true, then God is
not going to hurt me for giving charity. When it comes to giving charity, there should be no calculations. Don't rely on what you think is possible, and even on your own good heartedness. The Torah calls it "the generosity of your hand," given immediately, without limitation. I came out of the trance. One single tear ran down my cheek,
and I said one word. Okay… I said it's up to God. It's not my problem. I'm going to do my best
and I'm going to commit. But at the end of the day,
it's up to Him to make sure it happens. My father-in-law, the Rebbe, said that when a Jew commits to give an amount which seems totally unfeasible from a financial perspective, God opens a new conduit for him to help him fulfill his good resolution amid joy and gladness – which means that he is given several times more, in order to be able to give that amount happily.

That year in business,
I absolutely exploded. It was an incredible year,
from zero to hero overnight. The type of growth that I
had was not normal. And by the end of that year, I was able to fulfill every single
dollar of that $36,000 pledge. It was hidden So I started to go on a search to find where exactly the source for this concept
of giving charity makes a person wealthy. So I came across the standard line in Torah that everybody knows,
which in Hebrew is called asher tis'asher. Asher tis'asher. which means that when a person gives charity, he becomes wealthy. Ties to become wealthy. So I continued to learn and study more, and I came across the magic phrase I'm
about to tell you that changed my life forever and is about
to change your life forever.

And the secret hidden line is
found in a book called Malachi. And it goes like this: Ubechanuni Na Bazos. Ubechanuni Na Bazos God says with regard to charity, "Test Me with this." Even though, in general, we are not permitted to "test" God, the exception, as cited in the Code of jewish law, in the section Yoreh De'ah, in the beginning of Laws of Charity, is with regards to charity. Not only are we permitted to test Him, but God actually challenges us, "Test me". The next year, when the rabbi came and asked for $50,000,
I gladly obliged, of course. And the year after that,
they asked for $100,000. Now, that was really pushing myself.
I said yes.

What was I going to do, say no? Would you believe that
it worked again?
It was all starting to make sense. I tested God, and he opened up new channels,
new ways for me to make a living. And I had made more in that year when I gave $100,000 than I had
ever made in my life. And I also had enough left over. By then I was so convinced when it came to charity that there's no difference for me
between taking a ball and dropping it and letting it fall by gravity and giving
charity and getting money back in return.

There's no difference. There are others As I started documenting and talking more about my experience with charity,
all of a sudden, from all around the world,
people would reach out to me, telling me about their stories,
their miracles that they themselves saw. So the first time that we gave charity in a way that I would describe as making
us slightly uncomfortable was, Eda and I went to a class at Chabad
of Ohio State University.

They were hosting
Rabbi Yossi Jacobson YY. We were super inspired. He spoke about a number of things, one of the things being giving
and the importance of giving. We walked up to Rabbi Jacobson. We said, Rabbi, your message is fantastic. It's powerful, and it needs
to be heard by the world. Why don't you start a website, an online
yeshiva, and we will underwrite it. And I had no idea what the financial
commitment would look like. The dollar amount was tens of thousands of
dollars to start it, build it, fund it. I was extremely uncomfortable. Eda was uncomfortable. But we felt like this is really important. Hundreds of thousands of people could potentially be learning
and growing as a result of this. And we did it. Every year we would give more, and we were "testing" Hashem every year,
we would see clearly those results.

When you give,
you give for fun and for free, with no expectation of getting
anything in return. And what you get after almost
becomes just like the cherry on top. With covid, everyone was cash tied. I was especially cash tied. I was coming out of Sabbatical in Israel
where I had very little income, and I decided to put a donation and it was
well above my means at the time. And less than a year later, I closed probably the biggest cash
deal of my life and blew my mind. The fact that God had
reimbursed me not only with the fund amount, but also that he rewarded me, so to speak,
with ten X was phenomenal to me. I had a friend came up to me, told me,
Alberto, are you giving…How much are you giving? Do something, calculate 20%. And I'm like: Are you crazy? How can I give 20%? Just do it. You know If you want to continue to be a guy
who pay your bills and is doing okay.

Okay. But if you want to go strong, it's a 20%. After that day, I like what he said,
and I separated 20%. I cannot explain how that opened up
the possibilities of businesses. I did find myself at a point where I had gotten into divorce, and now I was
running a home as a single parent. It became a struggle to give as
freely as I did in the past. Even if it was kind of a challenge, I always benefited on the flip side,
so I would get a tax refund that year, or I would have the opportunity
to work at another job.

So I always found that even in giving,
God will ultimately reward you. It was our first Shabbat,
or maybe second Shabbat in the community. And we're at Kiddush and I meet this guy and I'm talking to him,
and we're having some drinks, and Rabbi Corn comes over and he's pouring
whiskey for everyone, and he says, Yaakov, make sure that this guy gives
good donations this year. And I laughed it off. What am I going to do? So I decided to joke. Whatever you give, I'll match.

I had no clue how much he had given. So it turns out that he had
committed $18,000 for the year. That was five times more than
any donation I had ever given. What am I going to say? I just hoped and prayed that I'll
be able to give it, and I meant it. Somehow, with God's incredible blessing,
I was able to give that much and more the year after, I gave at least
five times that amount. The thing I realized at that time that still sticks with me is we're just
a vessel for creating wealth and serving as a channel for God to get it
into the hands of those who need it.

People often ask me,
what's your secret to success? So yes, I do a ton of networking. I work really hard but the key
ingredient is my charity that I give. I really feel that has
enabled me to scale. And things that don't even make
sense have been working out. Like it's beyond comprehension. I've been in many businesses,
everything from shoes, textiles. Our last business has been
the most successful one.

We made sure that everything that came in,
we were going to give 10% Tzedakah. And I believe that it's been successful
because of us taking so seriously giving Charity. My story with charity
begins a few months ago. I was at the grave site of the
Rabbi M'Ribnitz in Monsey, New York. I had a big project that I was
working months and months to get it. And I didn't see a path to getting
a signature on my contract. And I told for the Rabbi that if I'm going to get it, I will donate my charity
from this project for his schools.

Five to six days later and this is already after months of back and forth,
I got in my inbox a signed contract. It was signed on my terms and everything
started rolling from there. This was like a very
special moment for me. Just five, six days after promising Charity, all of a sudden,
boom, the contract was signed. A close friend of mine reached out to me
and he's like, I have a friend of mine. He lives across the country.
He has no money. His parents have no money,
no one has any money. He needs help. So I was like, sure, whatever he needs,
I'll take care of it. And I supported him for the entire year. And it came to a point at the end of the
year, I wanted to go back to Israel. I needed that money to get there. I was short I was short $5,000. I went to a friend of mine, I'm like,
hey, this is the situation. Within three days, I had 5000 plus plenty of extra to get me
through the entire year. And it was just so clear to me that that
was literally me giving to someone else.

God gave right back to me. Our minds are so small, and it's only
us that limit the capacity of Hashem. And once we do that, Hashem says,
okay, Ad Kan, I'm going to stop here. But in your mind, if you say no, Hashem is bigger, He's greater,
it's endless, then Hashem says, okay. You'll see. Is it enough There's a man in my synagogue
that every year gives $10,000.

And I asked him if he could stand up
in front of the congregation and speak to everybody and talk about the blessings
that he sees from his charity. But he told me, Berel, I can't because I
don't see any blessings from my charity. And this really bothered me because I'm
the guy that pledges him every year. So how could it be that he doesn't see it? And I went home and I thought about it
and I did the math and the reason why he's not seeing the blessings from his charity
is because he's not giving enough. He only gives $10,000, which means that God only has to give him
$40,000 that is left for him to keep. The Source of life, God. So God is assuring us that if we give a fifth of our earnings to provide for those whom He must sustain, then He will multiply it four times, and it "shall be yours".

This is written in holy books. So if he gave $20,000,
then God would give him $100,000. If he gave $40,000,
then God would give him $200,000. You see, the problem with Charity and the way we've been looking
at it forever is this: most people look at Charity
going backwards. They say to themselves, if I made $100,000
this year, then I owe $10,000 to Charity. The problem is, if a person makes $100,000
after tuition, after rent, after food, after insurance, and after a vacation,
he has no money left.

He might even be in debt. He doesn't even have $10,000
left over to give to Charity. So he's not even doing that bare minimum. Here came the Lubavitcher Rebbe and changed everything and flipped it
completely on its head. Instead of looking backwards at what you made to determine what you owe to Charity,
he challenged us to look forward and make a pledge and decide how much money we
want to make for the upcoming year. And based on how much our pledge is,
that's how much we're going to make. "God attaches a good thought to action." When a Jew decides to do something positive, even if it seems beyond his means, and even if it is truly beyond his means – nontheless, because he resolved, despite his limitations, to do a favor for another Jew, although the other is wealthy, he resolves to do the favor with self-sacrifice, we are assured that God will help him honor his pledge.

I tested God And I won After learning all this last year when I went to go make my pledge for Charity,
I wanted to really test God with Charity. At the end of the day, a lot of people think that it says you can
test God, but really, if you read it properly, it says, test me
with Charity as if it's a commandment. It's a Mitzvah to test God with Charity. is with regards to Charity. but God actually challenges us, "Test me!" So this year, instead of going up by 18,000
or 36,000, I decided to really test God and see if this thing is
true once and for all. I pledge a quarter of a million dollars. And what do you think happened? True to His word, a new business was formed : my executive
coaching firm that not only paid off the quarter million dollar pledge,
but left me thank you, God. With plenty left over that I was able
to do it with joy and with happiness.

Just goes to show, when you test God in Charity, you're going
to see incredible miracles in your life. Your turn I now want to give you the exact method
that you could start applying this in your life exactly where you are
right now, right here. Step one, you make a pledge to institutions that the
foundation is based on God. Now, disclaimer the pledge that you make
should not be irresponsible, and it should be within the world
of reality, but from the same time, the pledge should be something that pushes
you beyond what you're comfortable giving. Step two is you write a document to the institutions that you're pledging
to, telling them the exact amount of money that you're going to be
pledging for the next year.

And then step three is, every single month you send a check
out to those organizations. My personal favorite is writing postdated checks and giving them
at the beginning of the year. So I take myself out of it. And what you are about to do is testing God with the greatest Mitzvah
that there is, which is Charity. And it says that nothing brings the Messiah, the Mashiach,
closer than giving Charity.

Once you test God and once you see
the blessings explode in your life, you will never be able to go
back to a regular life again. And when you do see those blessings,
make sure to tell everybody that you know about this incredible Mitzvah
of testing God with Charity. In God we test Subtitles : HIVI Productions (en.hivi.fr) Translator : Liora Dvash.

As found on YouTube

Retire Wealthy Home

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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.

So 
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 
category.

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..

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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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THE WEALTH OF NATIONS | PART 2 (BY ADAM SMITH)

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

♪ ♪
>> Rod: GOOD MONDAY MORNING! >> Rod: GOOD MONDAY MORNING!
I KNOW THE MONEY MINUTES LOOK I KNOW THE MONEY MINUTES LOOK
DIFFERENT. DIFFERENT.
WE’RE WORKING REMOTELY AND WILL WE’RE WORKING REMOTELY AND WILL
GET THROUGH THIS. GET THROUGH THIS.
I’M TALKING TO THOSE 50 AND I’M TALKING TO THOSE 50 AND
OLDER BEFORE RETIREMENT. OLDER BEFORE RETIREMENT.
IT’S YOUR MORNING TODAY. IT’S YOUR MORNING TODAY.
I’VE ALWAYS SAID, IF I COULD I’VE ALWAYS SAID, IF I COULD
FIND A RESOURCE THAT’S REALLY FIND A RESOURCE THAT’S REALLY
VALUABLE FOR YOU, I WANT TO MAKE VALUABLE FOR YOU, I WANT TO MAKE
SURE YOU KNOW ABOUT IT. SURE YOU KNOW ABOUT IT.
THAN IS ONE. THAN IS ONE.
A FREE RETIREMENT CHECKLIST A FREE RETIREMENT CHECKLIST
BECAUSE, YOU KNOW, RETIREMENT IS BECAUSE, YOU KNOW, RETIREMENT IS
DIFFICULT. DIFFICULT.
YOU NEED TO KNOW WHAT TO DO AND YOU NEED TO KNOW WHAT TO DO AND
WHAT NOT TO DO, HOW TO MANAGE WHAT NOT TO DO, HOW TO MANAGE
INCOME EXPENSES, WHAT LEGAL INCOME EXPENSES, WHAT LEGAL
DOCUMENTS DO YOU NEED, A WILL, A DOCUMENTS DO YOU NEED, A WILL, A
TRUST, AND HOW DO YOU MAKE IT TRUST, AND HOW DO YOU MAKE IT
SIMPLE AND EASY FOR YOUR HEIRS SIMPLE AND EASY FOR YOUR HEIRS
TO KNOW WHAT TO DO AT YOUR TO KNOW WHAT TO DO AT YOUR
PASSING? PASSING?
IT’S SIMPLE WITH THIS IT’S SIMPLE WITH THIS
PRE-RETIREMENT CHECKLIST, FROM PRE-RETIREMENT CHECKLIST, FROM
ONE OF MY FAVORITE PERSONAL ONE OF MY FAVORITE PERSONAL
FINANCE WEBSITES, THE DOLLAR FINANCE WEBSITES, THE DOLLAR
STRETCHER.COM.

STRETCHER.COM.
WE’LL PUT IT AS A LINK ON THE.

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Suze Orman Gets You Ready For Retirement | Money

I am the one and only Susie Orman, and my goal is to make you as independent from financial advisors as possible, because you are never going to be powerful in life until you are powerful over your own money. And my job is to make sure you can achieve just that. So rather than asking more from your money that it can't give you, you have to ask less of your spending habits from yourself which means you have got to get rid of all credit card debt. All debt. Total debt of car loans, mortgage debt, all debt that you have has to go. So one thing that you have to look at is if you have a debt, that is your sign that you can't afford to retire. Maybe you retire from the job that you currently have, but then you have to get some side hustles or something. So my best advice to you is start living below your means but within your needs.

How do you do that? From this day forward, every time you go to make a purchase, ask yourself a question, 'Is this a want or is this a need?'. If it's a want, please don't purchase it. If it's a need, you have to buy it. It's just that simple. You know, a lot of you, when you're approaching retirement, you look at your portfolio and usually your portfolio is this: you have a 401 9k), 403 (b), a Thrift savings plan if you work for the government or whatever, it may be, the military.

And now you've retired and now normally you would then do an IRA rollover with that money. But now you're 'Oh my God, what should I do? I never invest in money before, really. I've just put money in every single month into these mutual funds. And now I don't know what to do.'. If you are going to be withdrawing money from your retirement account to pay for your everyday expenses, you have to know that you have — ready for this, everybody — at least three years of expenses in cash, earning you a high interest rate or whatever the highest interest rate is that you can get.

The rest, at this point in time, should really be diversified into high-yield dividend-paying either stocks or exchange-traded funds. If you need really short term money and you want to get a higher interest rate for very short term money, right, I don't have a problem with bills. And, you know, I myself will put a serious sum of money protected in bills because if you're investing more than $250,000, then you really have to go to a variety of banks in order to get FDIC insurance — or even credit unions. So if you have a large sum of money of $1 – $3 million that you just want liquid, then I use Treasury bills for that. I don't have a problem with that at all. And they keep rolling over but I know that they're guaranteed by the taxing authority of the United States government. If we're talking now, though, about amounts that are $250,000 or below, I think that you're far better off, right here and right now, putting the money in a high-yielding savings account.

So for smaller amounts of money, savings account. For $250,000 or above that you want liquidity and the highest interest rate, I don't have a problem with Treasury bills. You don't have the documents in place today to protect your tomorrows. You don't have a will. You don't have a living revocable trust. You don't have an advance directive and durable power of attorney for health care. And you don't have a power of attorney for finances.

You need those things not just to make sure that your assets pass freely to your beneficiaries. You need those things for you. So here you are now and your spouse has died. Who, as you get older, who's going to write your checks for you? Who's going to pay your bills for you? If you get sick, you have an incapacity, who's going to do that? So it's very important that you get the documents that are correct. Long-term care insurance, if you can afford it, will absolutely protect your little nest egg if one of you ends up in a nursing home.

One out of three of you will spend some time in a nursing home after the age of 65. So look around and if you decide to buy long-term care insurance, the perfect age to buy it is really in your 50s. But here's the key. You better know that you can afford a long-term care insurance premium because they're not cheap. From the age of when you buy it all the way until at least 84 because it makes no sense for you to purchase it. Pay for it in your 50s, in your 60s. Now here you are in your mid 70s, you can't afford it anymore and then you drop it.

You're better off just not buying it at all. Let me just put it to you bluntly. You are to stay as far away from a reverse mortgage as you possibly can. There is not one situation out there where you should be getting a reverse mortgage. A reverse mortgage is based on the interest rates that are in effect right here and now. It's based on your age. And it just makes no sense. If you own a home and you can't afford to stay in that home — with real estate prices as high as they are — you could just sell your house right now and either seriously downsize, or there is nothing wrong with renting..

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Transferring wealth to your children

[Music] well if you want to transfer transfer wealth onto your children there's no right there's no one-size-fits-all there's a number of routes that you can take the most simple thing is that you just simply gift that money to them and there's some complexities around it it stays within your estate for seven years and you have to survive seven years for that to be beneficial from an inheritance tax perspective um and then you also are giving up that money to your children and so there needs to be thought about are they adult enough to be able to look after that money and be a custodian of it or are they going to go and spend it on things that that you perhaps wouldn't want them to um and there could be other complications in terms of relationships and divorces that could see some of that wealth go elsewhere so it's not suitable for everyone but it is a very simple way to do it and then there's other ways that you can look to do it with with things like trusts where you can set up a trust and you can then retain the control of that those assets to pass on as as and when you want to [Music] you

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Passive Income Ideas to build wealth | 2022

Hi, I'm Samarth from Wint Wealth. Imagine if you can make 1.2 lacs per year, apart from your regular source of income, why is this extra income required? I have a dream of owning a house. Someone might have a dream of owning a big car. Someone might want to send their children to a big university for higher education. Or someone might want to go on a world tour.

And it is not necessary that your regular source of income, is enough to help you achieve all of that. That is where the potential solution comes in. It's called passive income, but what is passive income? Passive income is any income which you generate by putting in lesser effort than your regular job or business. Hear this out carefully, I said lesser effort, had it been no effort then probably everyone would have been a crorepati. Would you believe that Warren buffet who is one of the world's best investor ever makes $4.3 billion per year, just through passive income wherein he has invested his money only in five stocks.

Today, we'll be talking about all avenues that you can probably explore easily to generate some additional passive income. First stream about which we'll talk is equity. Everyone wants to put their money into the stock market. But is it actually passive income? The answer is no, this is where dividend stocks or dividend mutual funds come in. Everyone knows what dividends are. But let me explain it to you in a very simple way. Let’s say you bought some shares in a company.

Now this company would be earning some profit through its business. Company has two options. Either it can reinvest that profit in the business to generate higher income, or it can distribute a part of its profit among its shareholders. When such profit is distributed among the shareholders, we call it Dividend. The stocks which pay dividends more than the industry or have dividend yield higher than the industry average, are called dividend stocks. Dividend mutual funds invest only in stocks which qualify as dividend stocks. Typically dividend stocks pay a dividend at least once or twice in a year.

That is the reason we have put them in the list of passive income. Where you will generate at least one income stream in a year. If you want to know which stocks actually perform very well as dividend stocks, we will be showing the chart on the screen right now. You can select some of these stocks as a part of your portfolio and help create a regular stream of income for yourself There are multiple other options through which you can participate in the equity market, but we aren’t focussing on them right now. And the reason for that is, all of them or probably the majority of them will qualify under active investment. We are only talking about passive investment and that is why we are only focusing on stocks which are dividend stocks or dividend mutual funds. Now we'll be talking about the second option, which you can explore, that is debt. You can have a lot of options under debt. You can invest in bonds. You can invest in bonds. That bond can be issued by governments. It can be issued by state governments. It can be issued by public sector undertakings, or they might be corporate bonds issued by private companies also.

Aside from bonds, you can put your money in fixed deposits. You can go to a bank, get a fixed deposit done. You will keep getting regular income, or you can put your money in post office saving scheme, Kisan Vikas Patra, et cetera, There a lot of schemes opened by the government where you can get a regular stream of income. Having said that, today, we will classify all these options as high risk, medium risk or low risk. Firstly, we will discuss about low risk. Low risk instruments include government bonds and fixed deposit. As of today, government bond of India 10 year benchmark is stating at around 7.50% which in itself for 10 years is a good rate, considering that it is the highest rating, which can be available to anyone, i.e. sovereign rating. Apart from that, you can go to any of the banks and open a fixed deposit and ensure that you get a regular stream of income monthly, quarterly or yearly or at maturity, depending on the option you choose.

Second, we'll talk about the medium risk options. Under medium risk options, we have corporate bonds. These bonds are issued by different companies. They can be issued by public sector, undertakings or private companies can also issue these bonds. And their risk is completely dependent on the entity, which is issuing it. If a triple rated entity is issuing it, then the risk factor is very low.

But if an entity, which is rated lower than triple a is issuing it, then the risk factor increases accordingly. By the way, if you want to explore corporate bonds then you can visit www.wintwealth.com where you can explore investment in corporate bonds wherein you can easily generate 9 to 11% fixed returns for short to medium term that is 12 months to 24 months. Another option which can explore under medium risk category under debt segment is money market funds. Money market funds are typically those mutual funds, which invests its corpus in short term instruments available in the market like treasury bills or commercial papers. Moving to the third category that is the high risk category. To generate fixed returns you can explore P2P lending. Having said that it's a high risk category and you should only invest your money when you are comfortable taking an exposure on any P2P platform. Third category. If we are talking about investments and not including Real Estate, then it will not be fair. Slowly, everyone is moving to an access based system rather than owning something. What I’m trying to say will be clear to you through this example: Everyone wished to have their own their own vehicle, their own car, but not everyone wants to invest that lump money upfront.

What do they end up doing? They enjoy the car ride by renting Ola or Uber. By the way, If you want to know more about renting a cab versus owning a car, please click on the link above and watch this video. Similarly, there has been a shift in renting out spaces rather than owning them. Smart Real estate investments can help you ensure a regular inflow of money through a income stream. Let’s say you decided that you want to invest in real estate. What options do you have? You can buy a flat or a house and rent it out for regular income. You can buy a land and lease out to any business for generating income. Or you can invest in funds which themselves invest in real estate. We'll talk about these in detail later in the video If you want to buy a flat or a house, you can probably choose a flat in a commercial area. For example, In Bangalore there are a lot of IT hubs. You can probably buy a flat near to one of the IT hubs and rent it out.

Because you are buying the house near a IT hub, then definitely there will be a lot of demand. If there will be demand, rent will also be better. You can expect in Bangalore, rental yield of around 3.5 to 3.6% yearly. I know this is very less, but if you conservatively assume that you flat or real estate’s value increase by 4-4.5% on an yearly basis, which is very conservative then also you're making a healthy income of, overall healthy income of, approximately 7.5-8% with a very solid asset being a part of your investment.

But real estate investment is not as easy as it sounds. Before selecting any property there are certain things which you need to take care of. Location of the property, Valuation of the Property, is that area providing good rental yield and more than that is there a demand for rented properties in that area. But if you don't have so much of time or you don't want to take the risk of investing your money directly in real estate, you can explore REITS i.e. real estate investment trust. In simple word, when you don't have the expertise or you don’t want to invest your time in selecting stocks then what you do? You invest in a good mutual fund. Similarly when you don’t have the time or the amount to invest in a real estate i.e.

A flat or a house or a land, you can invest your money in REITS. What REITS are? They're essentially mutual fund, which invest the pooled money into real estate properties. Whatever income is generated from these real estate properties, a part of it, in fact a majority part of it, is distributed among the unit holders as dividends. That is why it's a very simple way of taking exposure on real estate. Another option to take exposure in real estate is INvITs. Similar to REITS, here investment takes place in real estate only. Only difference is investment happens in infrastructure projects like roads. Here as well, whatever income these INvITs earn, majority part of it is distributed among the unit holders as dividend. Now that you've talked about the options where you can put your money to generate some passive income. It is also necessary to know that how much money do you need to invest in which stream, so that you have a balanced portfolio and a good inflow of regular income. Your portfolio composition will depend on a few factors.

Some of them are: your age, your risk appetite, your financial independence, and your goals. If you are around 30 years old, or you do not invest too actively, so I'm assuming you must be having some surplus funds. Let's assume that you’ve around 15 Lacs of surplus funds. If you invest these 15 Lacs of funds in these passive income options, so basis our calculation, we can assume that you will be able to generate around 8% per annum safely in these options, which translates to 1.2 lacs per year. If you have additional rental income from any of the investments which you might have done before, then this number might increase.

If you are in your early twenties or mid-twenties, our advice would be that you should be aggressive with your passive income investment. By that we mean, a major portion of the amount you will be investing in passive income options, should be invested in dividend stocks or dividend mutual funds, i.e. equity side. If you in your mid-thirties or early forties, then you can have a good balance of dividend mutual funds and dividend stocks, plus debt. Under debt as well, probably corporate debt more, because it'll help you generate returns closer to nine to 10% and you should aspire to save enough that you can probably get one real estate, which will help you get more income later.

But if you are in early fifties or probably closer to retirement, or if you have already retired then you should focus only on options wherein your capital is protected to a great extent. And it also helps you generate some additional income. Before we end, passive income doesn’t mean you invest your money and sleep. For every single penny that you invest, our advice is monitor them, not too actively as you do with your regular job or regular business or regular equity investments.

But our advice is any investment that you do, you should keep an eye on it. Passive income will help you generate a huge amount of income flows over the ears. And please do consider it as a very active part of your portfolio. By the way, if the recent market down trend has you buried, then you can watch this video. In this video we have tried to give out some tips wherein even during a market down trend, you can keep your money safe in the stock market and probably end up generating some more money.

Until we meet next time, happy Winting!.

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5 Best Fidelity Funds to Buy & Hold Forever

today we're going to talk about the five best fidelity funds to buy and hold forever hi if you're new to the channel my name is tay from financial tortoise where we learn to grow our wealth slow and steady in order to guide our conversation i'm going to use the three fund portfolio strategy to frame the fidelity funds i'm going to recommend in this video the three fund portfolio is one of the most popular do-it-yourself investment strategies and as the name implies it's made up of three simple funds most often an equities fund an international fund and a bond fund so all the funds i'm going to recommend today will fit into at least one of these slots the first fidelity fund you want to buy and hold forever is fidelity's u.s bond index fund fxnax it tracks the bloomberg barclays u.s aggregate bond index which is composed of investment-grade government bonds corporate bonds and mortgage-backed securities it holds approximately 8 400 bonds the top issuers are the u.s treasury or issuers of mortgage-backed securities like fannie mae and freddie mac it has an expense ratio of 0.025 percent which means if you have 10 000 invested in fidelity us bond index fund you're essentially paying 2 dollars and 50 cents for fidelity to manage this fund for you the fund started in 1990 and since then its average annual total return has been 5.33 percent so what are bonds and why do you need them in the simplest term bonds or loans when you buy bonds you're essentially loaning money to someone in this case to a company or a government agency and they're a very important addition to a well-constructed investment portfolio because of how different they are from stocks a good analogy i like to use to frame stocks versus bonds is this think of stocks as your core wealth building engine without it you aren't really going anywhere and bonds are like your brakes without it you could drive yourself off the road when you have bonds in your portfolio it helps to smooth out your investment ride because though they have lower returns they have less volatility during times of market crash where your stock investments can dip by 20 to 30 percent your bond investments will hold steady and ensure your right is so rocky so in order to help you smooth out your investment right you want to start adding them to your portfolio as you get closer to retirement age and if you're invested in fidelity consider fidelity u.s bond index fund as your core bond holding in your portfolio the second fidelity fund you want to buy and hold forever is fidelity total international index fund ftihx the fund tracks the msci all-country world index excluding the united states it represents approximately 5 000 international companies the top companies in this fund are made up of companies like taiwan semiconductor nestle and asml holdings it has an expense ratio of 0.06 percent which means that if you have 10 000 invested in ftihx you're essentially paying six dollars for fidelity to manage this fund for you the fund started in 2016 and since then its average annual total returns has been 5.99 what the fidelity total international index fund will do for you is provide you exposure to the international market outside the united states exposure to different countries sectors and even currencies and we can look at what happened to the japanese stock market as a lesson on why we might want to hold an international fund at the end of 1989 the japanese stock market's capitalized value was considered the largest in the world the nikkei 225 index the index of 225 largest publicly owned companies in japan reached an all-time high of close to 40 000.

Sadly 22 years later the nikkei was under 8 500 and to this day has yet to reach its all-time high again but satur is a japanese investor who failed to invest in international stocks outside of japan the us-based companies are currently the world leader in market capitalization and revenue but who can confidently say that will stay like that in the future it would be unfortunate but the same thing could happen to the u.s stock investors i personally still have strong confidence the u.s economy and u.s based companies as a whole but i also have to continuously check my assumptions financial writer larry swegel had a saying never treat the highly likely as certain and the highly unlikely as impossible as you get more comfortable with the international market you can start adding them to your portfolio and the fidelity total international index fund is a great option to represent your international holdings the third fidelity fund you want to buy and hold forever is fidelity zero total market index fund fzrox the fund tracks fidelity's in-house fidelity u.s total investable market index it represents approximately 2 700 u.s based companies the top holdings in this fund are apple microsoft and amazon it has an expense ratio of zero percent yes you heard me right zero dollars to invest in fidelity zero total market index fund thus the zero in its name the fund started in 2018 and since then its average annual total returns has been 11.82 the fidelity zero total market index fund is a total market index fund which means it tracks the total u.s stock market so this will be a great option as your core equities holding in your three fund portfolio however there are a couple things i do want to note with this fund especially in comparison to the two other equities options i'll cover here in a bit one is the fact that the index it is tracking is fidelity's in-house index fidelity u.s total investment market index this necessarily isn't a bad thing but there are actually more than 2 700 publicly traded companies in the united states than what this fund represents what this fund has done is exclude really small companies from its index in a big scheme of things this doesn't make that much of a difference in performance since the representation is based on market capitalization so the excluded companies would only represent maybe one percent or even less than that of the total fund but this is still something to note the total market here isn't quite the total market a second item to note with the fidelity zero total market index fund is the fact that you can't transfer your shares to another firm without selling your holdings and when you sell your holdings you have to pay taxes on your capital gains the fidelity zero total market index fund was designed with zero percent expense ratio in order to gain more customers so fidelity doesn't want you to move your money to a different firm and this limitation creates that barrier paying zero percent is nice but you won't understand that free comes with some strings attached but if you're planning to stay with fidelity for life fidelity zero total market index fund is a great equities fund to hold the fourth fidelity fund you want to buy and hold forever is fidelity total market index fund fskax the fund tracks the dow jones u.s total stock market index it represents approximately 4 000 u.s based companies the top holdings in the fund are apple microsoft and amazon essentially the same as fidelity zero total market index fund it has an expense ratio of 0.015 percent which means that if you had 10 000 invested in fidelity total market index fund you're essentially paying 1.50 for fidelity to manage this fund for you the fund started in 1997 and since then its average and annual total return has been 8.29 it's fidelity's original total market index fund prior to the introduction of fidelity zero total market index fund and fidelity total market index fund does exactly what his name implies invest in the total u.s stock market essentially every u.s based companies out there when it comes to investing in the stock market the key principle you want to abide by is diversification many people tend to think the only way to make money in the market is to beat the market by either selecting good stocks or good actively managed mutual funds unless you're a professional investor with hundreds of analysts working for you around the clock analysts who are constantly interviewing and researching companies and industries we can't win in the stock picking or fun picking game the odds are just stacked too high against the individual investor so the best strategy to beat wall street is to just track the market and at the lowest cost and fidelity total market index fund is a great fun to hold as your core equity is holding in your portfolio if you want more flexibility from the fidelity zero total market index fund the fifth fidelity fund you want to buy and hold forever is fidelity 500 index fund the fund tracks the s p 500 index which represents the 500 largest publicly traded companies in the united states at the time of this video there are exactly 508 publicly traded companies in this fund the top holdings in this fund are apple microsoft and amazon essentially the same as fidelity zero total market index fund and fidelity total market index fund not a surprise given the company representation is based on market capitalization and these big companies represent a good percentage of the market as a whole it has an expense ratio of 0.015 percent same as fidelity total market index fund so if you have ten thousand dollars invested in fidelity 500 index fund you're essentially paying dollar fifty for fidelity to manage the fund for you the fund is the oldest of the bunch it started in 1988 and since then its average annual total returns has been 10.66 percent when most people talk about the stock market they're most often referring to the standard and poor 500 not the total market index and the reason is because it's so much older it was created in 1926 when it began tracking 90 stocks and in 1957 the list expanded to 500 and for the past century it has been the go-to index to represent the stock market when you turn on any financial news reporters are always discussing how the s p 500 is up 50 points or down 100 points it essentially represents the 500 largest u.s corporations weighed by the value of the market capitalization and because it's weighted by market cap though there are approximately 4 000 publicly traded companies in the united states total these 500 stocks represent about 80 to 85 percent of market value of all u.s stocks and the weight within the index automatically adjusts based upon the changing stock prices to this day the s p 500 remains a standard to which professional mutual fund managers and investment firms compare their returns against so if you want your equities holding to match the performance the largest u.s stocks since they're essentially what moves the market hold fidelity 500 index fund as your core equities holding but i do want to say this whether you choose the fidelity 500 index fund the fidelity total market index fund or the fidelity zero total market index fund as your core equities holding you really can't go wrong with any one of them they're all great funds you just want to understand exactly what you're buying that's it guys i know i normally advocate for vanguard funds but sometimes you may not have the ability to choose the investment firm that you want because maybe your employer doesn't offer it that was the case for me and therefore most of my 401k is actually invested in fidelity fidelity is a great investment firm if you're looking to invest with them pick any of the five that i mentioned here and you can't go wrong if you'd like to learn more about the three fund portfolio and why you might want to consider it as your strategy check out my video here thank you guys for watching until next time all the best

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401K to Gold IRA Rollover

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How To Save For Retirement: Suze Orman Shares Her Best Money Advice | TODAY

>>> AND WE’RE BACK WITH OUR >>> AND WE’RE BACK WITH OUR SPECIAL SERIES LIVING LONGER SPECIAL SERIES LIVING LONGER TODAY, EXPLORING WAYS TO LIVER TODAY, EXPLORING WAYS TO LIVER NOT ONLY LONGER BUT BETTER. NOT ONLY LONGER BUT BETTER. >> THIS MORNING WE’RE FOCUSING >> THIS MORNING WE’RE FOCUSING ON YOUR FINANCES AND THE NEW ON YOUR FINANCES AND THE NEW ADVICE EXPERTS ARE GIVING TO ADVICE EXPERTS ARE GIVING TO MAKE YOUR MONEY REALLY LAST. MAKE YOUR MONEY REALLY LAST. >> THE GOOD NEWS AMERICANS ARE >> THE GOOD NEWS AMERICANS ARE LIVING LONGER, WHAT THAT MEANS, LIVING LONGER, WHAT THAT MEANS, A NEW FOCUS ON MAKING YOUR MONEY A NEW FOCUS ON MAKING YOUR MONEY LAST. LAST. >> AS YOU’RE PLANNING FOR YOUR >> AS YOU’RE PLANNING FOR YOUR FUTURE, DON’T UNDERESTIMATE HOW FUTURE, DON’T UNDERESTIMATE HOW LONG YOU’RE GOING TO LIVE. LONG YOU’RE GOING TO LIVE. >> IN FACT, ABOUT ONE OUT OF >> IN FACT, ABOUT ONE OUT OF EVERY FOUR 65-YEAR-OLDS TODAY EVERY FOUR 65-YEAR-OLDS TODAY WILL LIVE PAST 90.

WILL LIVE PAST 90. >> THE OLD ADVICE USED TO BE >> THE OLD ADVICE USED TO BE THAT AS YOU’RE PLANNING FOR THAT AS YOU’RE PLANNING FOR RETIREMENT EXPECT TO LIVE INTO RETIREMENT EXPECT TO LIVE INTO YOUR 80s. YOUR 80s. NOW THE EXPECTATION IS THAT NOW THE EXPECTATION IS THAT YOU’LL HAVE A GOOD CHANCE OF YOU’LL HAVE A GOOD CHANCE OF LIVING INTO YOUR 90s, MAYBE EVEN LIVING INTO YOUR 90s, MAYBE EVEN CELEBRATING YOUR 100th BIRTHDAY. CELEBRATING YOUR 100th BIRTHDAY. >> WITH LONGEVITY CAN COME THE >> WITH LONGEVITY CAN COME THE ADDED STRESS TO SAVE MORE.

ADDED STRESS TO SAVE MORE. >> PLANNING FOR THE FUTURE HAS >> PLANNING FOR THE FUTURE HAS BECOME A LOT MORE CHALLENGING BECOME A LOT MORE CHALLENGING AND REALLY THE ONUS IS NOW ON AND REALLY THE ONUS IS NOW ON THE INDIVIDUAL MORE THAN EVER. THE INDIVIDUAL MORE THAN EVER. >> SO HOW DO WE MAKE SURE WE’RE >> SO HOW DO WE MAKE SURE WE’RE FINANCIALLY PREPARED FOR ALL FINANCIALLY PREPARED FOR ALL THOSE EXTRA YEARS? THOSE EXTRA YEARS? IT’S EASY. IT’S EASY. JUST CALL SUZE ORMAN, A PERSONAL JUST CALL SUZE ORMAN, A PERSONAL FINANCE EXPERT. FINANCE EXPERT. SHE HOSTS SUZE ORMAN’S WOMEN AND SHE HOSTS SUZE ORMAN’S WOMEN AND MANY PODCASTS. MANY PODCASTS. >> WE’RE LIVING LONGER. >> WE’RE LIVING LONGER. THAT’S GREAT, BUT THE BAD NEWS THAT’S GREAT, BUT THE BAD NEWS IS, WE SURVEYED OUR TODAY.COM IS, WE SURVEYED OUR TODAY.COM AUDIENCE.

AUDIENCE. THEY SAID 60% OF THEM FELT LIKE THEY SAID 60% OF THEM FELT LIKE THEY DON’T HAVE THE AMOUNT OF THEY DON’T HAVE THE AMOUNT OF MONEY THAT THEY’RE SAVING RIGHT MONEY THAT THEY’RE SAVING RIGHT NOW THAT, THAT IT WON’T LAST NOW THAT, THAT IT WON’T LAST THEM THROUGH THEIR RETIREMENT. THEM THROUGH THEIR RETIREMENT. >> IF YOU REALLY THINK ABOUT IT, >> IF YOU REALLY THINK ABOUT IT, YOU GUYS, MOST PEOPLE BARELY YOU GUYS, MOST PEOPLE BARELY HAVE THE MONEY TO PAY THEIR HAVE THE MONEY TO PAY THEIR BILLS TODAY LET ALONE SAVE IN BILLS TODAY LET ALONE SAVE IN THEIR MINDS FOR THE FUTURE.

THEIR MINDS FOR THE FUTURE. >> PEOPLE FEEL LIKE THEY CAN’T >> PEOPLE FEEL LIKE THEY CAN’T SAVE. SAVE. >> THEY JUST FEEL THAT WAY, AND >> THEY JUST FEEL THAT WAY, AND THEY HAVE TO CHANGE THAT BECAUSE THEY HAVE TO CHANGE THAT BECAUSE THEY ARE GOING TO SPEND MORE THEY ARE GOING TO SPEND MORE YEARS IN RETIREMENT THAN THEY YEARS IN RETIREMENT THAN THEY EVER DID WORKING IF YOU THINK EVER DID WORKING IF YOU THINK ABOUT IT BECAUSE MOST PEOPLE ABOUT IT BECAUSE MOST PEOPLE THINK THEY’RE GOING TO RETIRE AT THINK THEY’RE GOING TO RETIRE AT 65, MAYBE THEY WORK 30 YEARS, 65, MAYBE THEY WORK 30 YEARS, THEY’RE GOING TO LIVE TO 100 THEY’RE GOING TO LIVE TO 100 POSSIBLY.

POSSIBLY. >> OENGWNING A HOUSE WAS ALWAYS >> OENGWNING A HOUSE WAS ALWAYS THE PLAN, BUT FOR THESE THE PLAN, BUT FOR THESE MILLENNIALS, THEY’RE OPEN ABOUT MILLENNIALS, THEY’RE OPEN ABOUT THE FACT THEY THINK THEY’LL THE FACT THEY THINK THEY’LL NEVER BE ABLE TO AFFORD A HOUSE, NEVER BE ABLE TO AFFORD A HOUSE, NEVER MIND SOME LONGEVITY OR NEVER MIND SOME LONGEVITY OR 401(k).

401(k). >> THAT’S NOT SUCH A HORRIBLE >> THAT’S NOT SUCH A HORRIBLE THING. THING. I DON’T THINK THAT THE KEY TO I DON’T THINK THAT THE KEY TO YOUR RETIREMENT IS OWNING A YOUR RETIREMENT IS OWNING A HOME. HOME. I THINK THE KEY TO YOUR I THINK THE KEY TO YOUR RETIREMENT IS HAVING ENOUGH RETIREMENT IS HAVING ENOUGH MONEY TO PAY WHATEVER YOUR MONEY TO PAY WHATEVER YOUR EXPENSES HAPPEN TO BE SO THE KEY EXPENSES HAPPEN TO BE SO THE KEY IS TO GET RID OF AS MUCH IS TO GET RID OF AS MUCH EXPENSES AS YOU CAN, DON’T HAVE EXPENSES AS YOU CAN, DON’T HAVE DEBT.

DEBT. IF YOU DO HAVE A HOME, MAKE SURE IF YOU DO HAVE A HOME, MAKE SURE YOUR MORTGAGE IS PAID OFF BY THE YOUR MORTGAGE IS PAID OFF BY THE TIME YOU RETIRE. TIME YOU RETIRE. THAT WOULD BE MY NUMBER ONE TIP THAT WOULD BE MY NUMBER ONE TIP TO TELL EVERYBODY THEY HAVE GOT TO TELL EVERYBODY THEY HAVE GOT TO DO IF THEY DO OWN A HOME. TO DO IF THEY DO OWN A HOME. >> WE’RE GOING TO GET INTO THAT. >> WE’RE GOING TO GET INTO THAT. WE HAVE THE THREE W’S. WE HAVE THE THREE W’S. THE FIRST IS WHERE. THE FIRST IS WHERE. WHERE IS THE BEST PLACE TO WHERE IS THE BEST PLACE TO INVEST YOUR MONEY SO IF YOU DO INVEST YOUR MONEY SO IF YOU DO HAVE 30ISH YEARS OF RETIREMENT HAVE 30ISH YEARS OF RETIREMENT YOU’RE SET? YOU’RE SET? >> I’VE SAID FOR A LONG TIME, >> I’VE SAID FOR A LONG TIME, JUST FORGET THE TAX WRITE OFFS JUST FORGET THE TAX WRITE OFFS OF YOUR PRETAX 401(k) OR IRA.

OF YOUR PRETAX 401(k) OR IRA. FORGET THOSE NOW, AND IF YOUR FORGET THOSE NOW, AND IF YOUR CORPORATION OFFERS IT, CAN YOU CORPORATION OFFERS IT, CAN YOU CO CO DO A ROTH 401(k) OR A ROTH IRA DO A ROTH 401(k) OR A ROTH IRA WHICH ARE AFTER TAX WHICH ARE AFTER TAX CONTRIBUTIONS. CONTRIBUTIONS. WHY? WHY? YOU DON’T HAVE TO WORRY WHAT THE YOU DON’T HAVE TO WORRY WHAT THE TAX BRACKETS ARE GOING TO BE 20, TAX BRACKETS ARE GOING TO BE 20, 30, AND 40 YEARS FROM NOW.

30, AND 40 YEARS FROM NOW. I PERSONALLY THINK THEY’RE GOING I PERSONALLY THINK THEY’RE GOING TO SKYROCKET OVER THE YEARS, SO TO SKYROCKET OVER THE YEARS, SO THEREFORE WHAT YOU SEE IS WHAT THEREFORE WHAT YOU SEE IS WHAT YOU GET IN A ROTH IRA OR A ROTH YOU GET IN A ROTH IRA OR A ROTH 401(k). 401(k). AGAIN, IT’S PRETAX VERSUS AFTER AGAIN, IT’S PRETAX VERSUS AFTER TAX, BUT AFTER THAT IT’S TAX TAX, BUT AFTER THAT IT’S TAX DEFERRED VERSUS TAX FREE. DEFERRED VERSUS TAX FREE. IT’S FOR YOUR BENEFICIARIES IN A IT’S FOR YOUR BENEFICIARIES IN A PRETAX ACCOUNT THEY’RE GOING TO PRETAX ACCOUNT THEY’RE GOING TO PAY TOTAL TAXES ON IT. PAY TOTAL TAXES ON IT. >> LET’S GO BACK TO DEBT FOR A >> LET’S GO BACK TO DEBT FOR A SECOND.

SECOND. FOR PEOPLE WHO HAVE STUDENT FOR PEOPLE WHO HAVE STUDENT LOANS, THEY’VE GOT CREDIT CARDS, LOANS, THEY’VE GOT CREDIT CARDS, THEY’VE GOT THAT MORTGAGE. THEY’VE GOT THAT MORTGAGE. HOW DO YOU PRIORITIZE THE DEBT? HOW DO YOU PRIORITIZE THE DEBT? WHAT DO YOU PAY AND WHEN? WHAT DO YOU PAY AND WHEN? >> STUDENT LOAN DEBT IS THE MOST >> STUDENT LOAN DEBT IS THE MOST DANGEROUS DEBT YOU CAN HAVE BAR DANGEROUS DEBT YOU CAN HAVE BAR NONE BECAUSE IN 90% OF THE NONE BECAUSE IN 90% OF THE CASES, 99%, IT IS NOT CASES, 99%, IT IS NOT DISCHARGEABLE IN BANKRUPTCY. DISCHARGEABLE IN BANKRUPTCY. SO THEY HAVE THE LEGAL AUTHORITY SO THEY HAVE THE LEGAL AUTHORITY TO GARNISH YOUR WAGES AND TO TO GARNISH YOUR WAGES AND TO REALLY THEN DECREASE YOUR INCOME REALLY THEN DECREASE YOUR INCOME SO STUDENT LOAN — SO STUDENT LOAN — >> TAKE CARE OF THAT FIRST.

>> TAKE CARE OF THAT FIRST. >> FIRST THAT. >> FIRST THAT. THEN IF YOU HAVE CREDIT CARD THEN IF YOU HAVE CREDIT CARD DEBT THAT NEEDS TO GO BECAUSE DEBT THAT NEEDS TO GO BECAUSE DEBT IS BONDAGE. DEBT IS BONDAGE. YOU GOT TO GET OUT OF THAT. YOU GOT TO GET OUT OF THAT. AND THEN YOU START WORKING, IF AND THEN YOU START WORKING, IF YOU’RE GOING TO STAY IN YOUR YOU’RE GOING TO STAY IN YOUR HOME FOR THE REST OF YOUR LIFE, HOME FOR THE REST OF YOUR LIFE, GET RID OF YOUR MORTGAGE GET RID OF YOUR MORTGAGE PAYMENT. PAYMENT. >> I WANT TO FOLLOW UP ON THAT.

>> I WANT TO FOLLOW UP ON THAT. YOU DON’T WANT TO HAVE A YOU DON’T WANT TO HAVE A MORTGAGE, A LIVE MORTGAGE STILL MORTGAGE, A LIVE MORTGAGE STILL GOING BY THE TIME YOU RETIRE. GOING BY THE TIME YOU RETIRE. WHY? WHY? >> BECAUSE YOUR MORTGAGE PAYMENT >> BECAUSE YOUR MORTGAGE PAYMENT IS YOUR HIGHEST MONTHLY EXPENSE IS YOUR HIGHEST MONTHLY EXPENSE THAT YOU’RE GOING TO HAVE BAR THAT YOU’RE GOING TO HAVE BAR NONE. NONE. >> WHEN YOU RETIRE. >> WHEN YOU RETIRE. >> IT’S FAR EASIER TO PAY OFF >> IT’S FAR EASIER TO PAY OFF YOUR MORTGAGE THAN TO SAVER THE YOUR MORTGAGE THAN TO SAVER THE MONEY TO GENERATE THE INCOME TO MONEY TO GENERATE THE INCOME TO PAY OFF YOUR MORTGAGE. PAY OFF YOUR MORTGAGE. YOUR GOAL IN RETIREMENT IS TO BE YOUR GOAL IN RETIREMENT IS TO BE TOTALLY DEBT FREE 100% IN TOTALLY DEBT FREE 100% IN RETIREMENT.

RETIREMENT. IF YOU DON’T HAVE ENOUGH MONEY, IF YOU DON’T HAVE ENOUGH MONEY, DECREASE YOUR EXPENSES, AND THEN DECREASE YOUR EXPENSES, AND THEN YOUR MONEY WILL GO FURTHER. YOUR MONEY WILL GO FURTHER. >> GOT YOU. >> GOT YOU. >> WHAT ABOUT WHEN, WHEN DO YOU >> WHAT ABOUT WHEN, WHEN DO YOU START? START? I KNOW, WHEN WE’RE BORN WE I KNOW, WHEN WE’RE BORN WE SHOULD START SAVING.

SHOULD START SAVING. >> YOU HAVE THE 200 BUCKS WHEN >> YOU HAVE THE 200 BUCKS WHEN YOU’RE 30. YOU’RE 30. >> PEOPLE ALWAYS THINK THEY HAVE >> PEOPLE ALWAYS THINK THEY HAVE TIME, TIME IS THE MOST IMPORTANT TIME, TIME IS THE MOST IMPORTANT INGREDIENT IN YOUR RETIREMENT INGREDIENT IN YOUR RETIREMENT RECIPE. RECIPE. LET’S JUST SAY YOU HAVE 40 LET’S JUST SAY YOU HAVE 40 YEARS. YEARS. YOU’RE YOUNG. YOU’RE YOUNG. YOU HAVE 40 YEARS UNTIL YOU’RE YOU HAVE 40 YEARS UNTIL YOU’RE GOING TO BE 70. GOING TO BE 70. YOU PUT $200 A MONTH AWAY INTO A YOU PUT $200 A MONTH AWAY INTO A ROTH IRA OR ROTH 401(k). ROTH IRA OR ROTH 401(k). AVERAGE MARKET RETURNS, DO YOU AVERAGE MARKET RETURNS, DO YOU KNOW THAT YOU WOULD HAVE KNOW THAT YOU WOULD HAVE $1.1 MILLION AT 70, WHICH I $1.1 MILLION AT 70, WHICH I THINK SHOULD BE THE NEW THINK SHOULD BE THE NEW RETIREMENT AGE, BUT YOU WAIT TEN RETIREMENT AGE, BUT YOU WAIT TEN YEARS.

YEARS. >> YOU’RE TALKING ABOUT HAVING A >> YOU’RE TALKING ABOUT HAVING A SURPLUS OF 200 BUCK WHEN IS SURPLUS OF 200 BUCK WHEN IS YOU’RE 30. YOU’RE 30. SHOULD YOU TAKE THAT 200 AND SHOULD YOU TAKE THAT 200 AND APPLY IT TO ONE OF THESE OTHER APPLY IT TO ONE OF THESE OTHER THINGS. THINGS. >> YOU NEED TO BE SAVING >> YOU NEED TO BE SAVING ESPECIALLY IN A 401(k), ESPECIALLY IN A 401(k), ESPECIALLY IF THEY MATCH YOUR ESPECIALLY IF THEY MATCH YOUR CONTRIBUTION.

CONTRIBUTION. YOU PUT IN A DOLLAR, THEY GIVE YOU PUT IN A DOLLAR, THEY GIVE YOU $0.50. YOU $0.50. I DON’T CARE IF YOU HAVE ANY I DON’T CARE IF YOU HAVE ANY MONEY. MONEY. YOU CAN’T PASS UP FREE MONEY. YOU CAN’T PASS UP FREE MONEY. IF YOU STARTED PUTTING, JUST IF YOU STARTED PUTTING, JUST LET’S SAY $200 A MONTH AWAY, AND LET’S SAY $200 A MONTH AWAY, AND YOU NOW ONLY HAVE 30 YEARS LEFT YOU NOW ONLY HAVE 30 YEARS LEFT VERSUS 40, YOU’D ONLY HAVE LIKE VERSUS 40, YOU’D ONLY HAVE LIKE $400,000. $400,000. YOU JUST BLEW $700,000 BECAUSE YOU JUST BLEW $700,000 BECAUSE YOU WAITED TEN YEARS. YOU WAITED TEN YEARS. IT WAS ONLY A $24,000 DIFFERENCE IT WAS ONLY A $24,000 DIFFERENCE IN THOSE TEN YEARS.

IN THOSE TEN YEARS. BUT THE TEN YEARS, THE SOONER BUT THE TEN YEARS, THE SOONER YOU BEGIN, THE BETTER YOU’LL BE. YOU BEGIN, THE BETTER YOU’LL BE. >> JUST TO CARSON’S POINT. >> JUST TO CARSON’S POINT. IF I HAVE 200 BUCKS TO SPARE,KY IF I HAVE 200 BUCKS TO SPARE,KY CAN EITHER PAY OFF MY CREDIT CAN EITHER PAY OFF MY CREDIT CARD DEBT AND START SAVING IN A CARD DEBT AND START SAVING IN A ROTH IRA, WHAT WOULD MY CHOICE ROTH IRA, WHAT WOULD MY CHOICE BE? BE? >> YOUR CHOICE THERE IS TO PAY >> YOUR CHOICE THERE IS TO PAY OFF YOUR CREDIT CARD DEBT.

OFF YOUR CREDIT CARD DEBT. >> IF YOU DON’T HAVE MUCH MONEY >> IF YOU DON’T HAVE MUCH MONEY YOU MAY BE BEHIND ON YOUR CREDIT YOU MAY BE BEHIND ON YOUR CREDIT CARD PAYMENTS, AND YOUR INTEREST CARD PAYMENTS, AND YOUR INTEREST RATES ARE 15, 18%. RATES ARE 15, 18%. THAT’S A GUARANTEED RETURN. THAT’S A GUARANTEED RETURN. WHEN YOU PAY OFF YOUR CREDIT WHEN YOU PAY OFF YOUR CREDIT CARD DEBT, YOU’RE GUARANTEEING A CARD DEBT, YOU’RE GUARANTEEING A FANTASTIC RETURN. FANTASTIC RETURN. >> WHAT IS THE ONE SMALL THING >> WHAT IS THE ONE SMALL THING YOU WOULD TELL OUR VIEWERS YOU WOULD TELL OUR VIEWERS BEFORE WE GO? BEFORE WE GO? >> HERE’S WHAT’S REALLY >> HERE’S WHAT’S REALLY IMPORTANT. IMPORTANT. MANY PEOPLE HAVE ADVICE FOR ALL MANY PEOPLE HAVE ADVICE FOR ALL OF YOU.

OF YOU. SOMETIMES THAT ADVICE IS GOOD SOMETIMES THAT ADVICE IS GOOD FOR THE PERSON GIVING THE FOR THE PERSON GIVING THE ADVICE, AND SOMETIMES IT’S GOOD ADVICE, AND SOMETIMES IT’S GOOD FOR THE PERSON RECEIVING IT. FOR THE PERSON RECEIVING IT. MY ADVICE IS THIS, PLEASE DON’T MY ADVICE IS THIS, PLEASE DON’T DO ANYTHING THAT YOU DON’T DO ANYTHING THAT YOU DON’T UNDERSTAND. UNDERSTAND. IT IS BETTER TO DO NOTHING THAN IT IS BETTER TO DO NOTHING THAN TO DO SOMETHING YOU DO NOT TO DO SOMETHING YOU DO NOT UNDERSTAND BECAUSE SOMETIMES YOU UNDERSTAND BECAUSE SOMETIMES YOU CAN DO SOMETHING AND IT BLOWS CAN DO SOMETHING AND IT BLOWS ALL YOUR MONEY, AND SO IF IT ALL YOUR MONEY, AND SO IF IT DOESN’T FEEL RIGHT TO YOU, YOU DOESN’T FEEL RIGHT TO YOU, YOU HAVE TO TRUST YOURSELF MORE THAN HAVE TO TRUST YOURSELF MORE THAN YOU TRUST OTHERS.

YOU TRUST OTHERS. IT’S YOUR MONEY, AND WHAT IT’S YOUR MONEY, AND WHAT HAPPENS TO YOUR MONEY IS GOING HAPPENS TO YOUR MONEY IS GOING TO DIRECTLY AFFECT THE QUALITY TO DIRECTLY AFFECT THE QUALITY OF YOUR LIFE, NOT MY LIFE. OF YOUR LIFE, NOT MY LIFE. NOT ANYBODY ELSE’S LIFE, SO IF NOT ANYBODY ELSE’S LIFE, SO IF YOU REALLY WANT TO BE POWERFUL YOU REALLY WANT TO BE POWERFUL IN LIFE, YOU HAVE TO BE POWERFUL IN LIFE, YOU HAVE TO BE POWERFUL OVER YOUR OWN MONEY. OVER YOUR OWN MONEY. >> THAT’S GOOD ADVICE. >> THAT’S GOOD ADVICE. IN SOME CASES FINANCIALLY DOING IN SOME CASES FINANCIALLY DOING NOTHING IS BETTER THAN MAKING A NOTHING IS BETTER THAN MAKING A CHOICE TO YOUR DETRIMENT. CHOICE TO YOUR DETRIMENT. >> NEVER TALK YOURSELF INTO >> NEVER TALK YOURSELF INTO TRUSTING ANYONE. TRUSTING ANYONE. YOU WALK INTO A FINANCIAL YOU WALK INTO A FINANCIAL ADVISER’S OFFICE AND THEY FEEL ADVISER’S OFFICE AND THEY FEEL LIKE THEY KNOW WHAT YOU’RE LIKE THEY KNOW WHAT YOU’RE DOING.

DOING. THEY MUST KNOW, YOU DON’T KNOW THEY MUST KNOW, YOU DON’T KNOW AND YOU BELIEVE THEM. AND YOU BELIEVE THEM. SOMETIMES THEY GIVE GREAT AED SOMETIMES THEY GIVE GREAT AED VICE AND SOMETIMES THEY GIVE VICE AND SOMETIMES THEY GIVE ADVICE THAT’S NOT SO MUCH. ADVICE THAT’S NOT SO MUCH. >> THAT STUFF’S TRUE IN >> THAT STUFF’S TRUE IN ANYTHING, RIGHT? ANYTHING, RIGHT? >> WHEN YOU THINK ABOUT IT, >> WHEN YOU THINK ABOUT IT, SAVANNAH, YOUR MONEY AND YOUR SAVANNAH, YOUR MONEY AND YOUR LIFE ARE ONE. LIFE ARE ONE. WHO YOU ARE AND WHAT YOU HAVE IS WHO YOU ARE AND WHAT YOU HAVE IS ONE.

ONE. IT’S YOU’RE THE ONE WHO EARNS IT’S YOU’RE THE ONE WHO EARNS IT. IT. YOU’RE THE ONE WHO INVESTS IT. YOU’RE THE ONE WHO INVESTS IT. YOU’RE THE ONE WHO SAVES IT, AND YOU’RE THE ONE WHO SAVES IT, AND YOU’RE THE ONE WHO’S GOING TO YOU’RE THE ONE WHO’S GOING TO LIVE. LIVE. >> WE’LL JUST GO TO YOU. >> WE’LL JUST GO TO YOU. YOU’RE OUR TRUSTED SOURCE. YOU’RE OUR TRUSTED SOURCE. >> COME ON, EVERYBODY, COME JOIN.

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