Tag: Wealth
Retirement Planning FACTORS | Age and Income
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
what to look for when selecting the right
retirement plan so age is a big factor when it comes to deciding which plan is right for you
if you're offered a pension that's fantastic not many companies do offer those nowadays however
if you have the benefit of getting one then yes take it but I also think you should also have a
retirement plan in addition to your pension just to diversify your savings another situation to
consider is your financial situation so someone with a higher income level is most likely going
to want to prefer choosing their own retirement plan because then they're going to be able to
not only write off those contributions but also distribute it later in life so it maximizes their
potential to not incur penalties or other taxable income kind of situations essentially the more
money you make you're looking for more write-offs you're looking to claim less you're looking to
you know have security but you got to be a little more deaf and clever in how you're taking your
distributions so to not trigger taxable events
Investment Finance Tips : ROTH IRA Retirement Tips
Jason 0 Comments Retire Wealthy Retirement Planning Tips for Retiree's
This is Patrick Munro, Financial Advisor,
and I'm asking the question today, "Do my ROTH contributions count if I have a retirement
plan at work"? Many of my clients will ask me that, and the more retirement plans you
can possibly have, the better. Many people do have a retirement plan at work which is
non-voluntary, meaning they didn't have any say in how it was set up, but, nevertheless
the employer is matching the contributions that you are payroll deducted, so you take
that. But you can also set up your own independent ROTH plan whereby the taxes are paid ahead
of time.
The more the better, I always say. If you have the money, by all means put that
in there and make sure that you don't put in too much money into a retirement plan to,
well, not have much of a lifestyle. You don't want to be IRA poor, you want to be remember
that you have to enjoy your life going forward. But by all means if you have an IRA plan at
work you can also set up an independent ROTH plan as well. So this is Patrick Munro talking
about that issue, "Do my ROTH's count if I have an IRA plan at work"?.
Generation Wealth – Official Trailer | Amazon Studios
Jason 0 Comments Retire Wealthy
– If I wanna work 100 hours a
week and never see my family and die at an early age
that's my prerogative. – I would have money as big as this room. And kiss it. – 33 pounds of gold and diamonds
given to me by superstars of the world. – I love money. Come to me. – I've been a photographer for 25 years. With my lens focused on wealth,
I noticed that no matter how much people had, they still want more. I wanna figure out why our
obsession with wealth has grown. It seemed to be a shift
in the American dream. – I know the name's of the
Kardashians better than I know the names of my neighbors. – This fictitious
lifestyle fuels this sense of inadequacy. – I have the classic Birkin
in almost every color. – The bags start $20,000 and go up. – I realized wealth was
much more than money. It was whatever gave us value. Fame, sex, even plastic surgery for dogs. – It's kind of like the end of Rome.
Society's accrue their greatest
wealth at the the moment that they face death. – If you look great and
you have a nice car, I'm all for it. But at the expense of what? – [Woman] You sell your soul to the devil. – You're so hungry for it you're blinded. – I am on the FBI most wanted list. – All of us are following the toxic dream. – If you think that money
will buy you anything and everything, you've
never ever had money. – Dollars, dinero, money is what it takes..
11 Things That Will Destroy Your Wealth
Jason 0 Comments Retire Wealthy
Money has always been like a love affair, too
sweet if you're smart enough not to get caught. But if you also make one small mistake, it could
turn sour quickly when your partner discovers your infidelity. Just like money, if you're smart with
it, you'll enjoy the benefits of always being in a stable position in your life. Mistakes, no matter
how minor, could lead to the destruction of the wealth you worked so hard to create. Here are some
of the things you probably didn't know that are destroying your wealth.
11. Gambling The number one rule in gambling is that
the game is always in favor of the house. No matter how close you feel you are about to win,
please resist the urge because it is just a scheme to milk money from you. You might be playing on
the slot machines or card games, and you are on a winning streak. In the long term, the house will
win.
It’s a well-planned illusion while at the casino, as they want to have you there for as long
as they can. They will offer free refreshments and the environment itself will trick you with its
nonexistent natural light, making you unable to tell the time. Our addicted brothers and sisters
lose more in the gambling dens, ranging from about 55-90 thousand dollars each year. That’s enough to
start a business that will sustain your lifestyle! 10. Cars
These raving beasts are a sight to behold, and it's even better when you own one or two of
them. However, don't be too quick to spend your money on acquire such an asset.
This is because
it comes with a lot of baggage that will surely destroy your wealth. Why? Well, buying a new
car will have you paying extra monthly or yearly charges to maintain it. This ranges from
car insurance, car payments, finance charges, and down payments. And we haven't even included
the amount of fuel you need to run your errands daily and the parking fee.
This will add up to
roughly $450 a month on top of the 35,000 used to purchase the car if it was new. Maybe you
thought that it would be a smart move to buy a used car instead of a new one, which would have
cost 20,000 dollars. Sure, you saved a few bucks, but the fact is that you just bought yourself
a liability that depreciates every single day. The stats show that a new car depreciates 15%
in the first year of driving it. Thereafter, it decreases a further 15% each year. So, if you
wanted to sell the same car three years later, you'd only get $10,000-18,000 for it. Now that car
dealership isn't looking all that enticing, right? 9. Debt
Don't get me wrong. Debt isn't always the enemy, as it can help salvage a failing business, or even
create an outstanding income-generating stream if well thought through.
I'm talking about student
loan debt and credit card debt. These two are the most well-known American dream slayers, with up
to 1.6 trillion in student debt alone in the U.S. Stay away from the fascination of going to a more
prestigious university than you can afford. It forces you into debt that will take a good amount
of time to pay off, instead of opting for a local university that will take you in for a cheaper
price. You could also look into getting grants and student scholarships. Coupled with student
loans, a majority of students find themselves deep in credit card debt after spending their
entire college years purchasing on credit the things they can't afford with cash. These debts
are carried to adulthood, leaving many shackled to massive debt. Despite getting a handsome
paycheck at the end of the month, many end up broke because a large portion of that income is
spent on repaying all the debt they have accrued. 8.
Financial illiteracy
Alan Greenspan once said that the biggest problem in today's generation and
economy is the lack of financial literacy. It's no wonder many people are finding themselves deep
in debt and stagnant despite having well-paying jobs. No person is interested in learning about
money management. They'd rather just wing it when it comes to their finances, not knowing that
financial knowledge is powerful. We simply think that we can duplicate what other people
are doing, and our money bags will be fuller. Sorry to be the one to tell you this, but your
finances are as unique to you as your fingerprint. There is no ‘one shoe fits all’.
You have to learn
to balance what you spend on versus how much you earn. to come up with the most workable budget
for you. Learn about accounting and investing. This kind of knowledge will be beneficial in
the long run. Whereas a lack of it will destroy your wealth more than you acquired it.
7. Fashion Gucci bags, Louboutin shoes, a Rolex watch all
to try to make a good first impression. Stop it, please, you don't need to have the
most expensive suit in the room to make an impression. All you need is a
normal-looking one that's crisp and clean. Brush your teeth and maintain a good hygiene
season with some charisma and personality. You'll have everyone in the event looking
for an opportunity to interact with you.
We can all attest to doing all this clingy,
dressing just to keep up with the Jones. But we end up looking rich outside while
our bank accounts are screaming for help. It costs more to buy a 200$ bag that you carry
only once instead of buying one versatile one. 6. Eating out
Did you know that you probably spend around $3,000 a year just on
take-out? That's five times the amount you'd have spent if you'd cooked the food yourself.
Don't
get me started on the amount of time you wasted waiting for your delivery to get to you. Or how
long it takes to pick up the delivery yourself. You'd be saving a good amount of cash every month
by cooking your meals at home. You can stash this money away in your emergency fund for a rainy day.
Doing this not only saves you money, but allows you the opportunity to have a hot meal every day.
You can watch how many calories you're eating. You can even personalize your meals as much as you
want without the worry that the restaurant will forget to add extra gravy again.
Furthermore,
it's healthier to make that dinner yourself. Don't fall into this money trap and have your
wealth robbed from you as you sit by and watch. 5. Wrong relationship
Being in the wrong relationship might just cost you a fortune in your finances.
Up until today, you probably didn’t know, but statistics prove that the average man
spends close to 120,000 dollars on dates. A wedding costs about $34,000 to plan, with
an additional $6,000 for an engagement ring. Can you imagine spending this much only to
be hit with divorce papers? Quite expensive, don’t you think? A survey carried out has shown
that millennials getting into marriage secure themselves by signing a prenup in case things fall
apart.
In that case, they’ll walk out of someone’s life with something in their pocket. I don’t know
whom it might concern, but you better be keen when getting into relationships because the wrong
relationship will not only cost you emotional grief but will also dent your wealth. The
average marriage that works out in the US is 50%, so it’s important you know this before venturing
into it blindly. This means that if you flip a coin, you’ll be able to predict whether your
marriage will work out or not. In the case that things don’t work out for you, it costs an
average of 13,000 dollars to facilitate a divorce, not forgetting other expenses such as alimony
and child support that would be on your back. Without a doubt, we better invest smartly to
avoid these blunders that will destroy our wealth. 4.
Shopping
Shopping has turned into a famous trend all over the world where once someone makes
some small amount of money, all that runs through their mind is how they’ll swing by the mall and
shop till they drop. We should be very precise in our shopping and it would be better if we tagged
along with a shopping list to avoid the temptation of overspending. A close look at this will help
realize how much money is lost in thrift shops and shopping malls. All these shopping sprees
eventually lead to debt, and even more debt if you aren’t keen enough.
Can you believe that
the average credit card debt stands at $57,008? 3. No emergency fund
Living without an emergency fund is like going hiking and choosing not
to carry an extra bottle of water. because the instructor said that you'd be back
from the hike in 6 hours. Only for you to end up dehydrated because your only water bottle fell off
a cliff. The point here is, life is unpredictable, it's so important to have an emergency fund ready.
There isn't a standard amount of money you need to keep for any emergencies. Some say that you
need to have saved triple your monthly income while specifying a certain amount. However, we
are sure that not having an emergency fund will leave you broke in the event of an accident or
calamity. You'll be forced to pay out of pocket or max out your credit to shelter yourself.
This
will, in turn, lead to several financial strains unfolding in your life. You'll be left wondering
where your whole salary is disappearing to. 2. Alcohol
Some claim that a little wine every day does more good than harm. But have you ever
sat down to think about the financial implications that are associated with drinking? You're lucky
if you drink just a little, because heavy drinkers are suffering out there. In 2018 alone, people
have already downed more than 6.3 gallons of beer and 900 million gallons of wine. Do the math, and
you'll be stunned. Even more shocking is that the wealthy and those who are well educated are the
ones partaking in this joyous affair. Be smart to avoid this other money trap, because we've
all heard those stories. The ones who were once at the peak of their careers, both in title and
income, end up losing their jobs because they go out drinking way too much.
Reporting late
to work or even delivering inaccurate reports such a waste of good talent don’t you think?
1. Jewellery. Hip-hop has a firm grip on the dress code we
wear, as well as the bling and glamour that adorns our outfits. You’ll see little to none of
these celebrities without some dope iced-out chain or a gorgeous Rolex watch worth millions. Take a
look at Lil Wayne. For instance, he owns a pinkie ring worth two thousand dollars and Rick Ross’s
custom-made chain worth 1.5 million dollars! Practically speaking, owning such things may
destabilize your wealth. Did you know that jewellery is a depreciating asset? Probably not,
so next time you invest millions in jewellery, you better take a moment to critically assess
your decision. Even if you purchase top-shelf jewellery, it won’t bring back as much as you
invested, even if you resell it after a day. Jewellery is merely a status symbol that
you really won’t need to spend cash on. At the end of the day, the amount of wealth
you are worth is not calculated by the gold chain on your neck.
Be smart. One
last question before we wrap up: What will you do when you are given ten thousand
dollars in cash? Let us know down below. Well folks, thank you so much for watching.
If you enjoyed the video, give it a thumbs-up, and if you’re new here, welcome and
subscribe for more content like this. With that said, have a great
day, and see you in the next one..
These Unseen Beings Can Give Fame, Talent, Wealth & Power! | Gurudev
Jason 0 Comments Retire Wealthy
The subtle consciousness has many layers to
it. The spirit is one, yet spirit is not one. There are many layers to the spirit. The whole universe is permeated by spirit,
by Brahman, yet in different degrees. A stone has one unit of life. Stones have life, and stones have gender. There are male stones and there are female
stones. The ancient people of every culture knew this. Stones do have one unit of life. Water has two units of life, and when there is fire there is three units
of life.
In the air, there are four units of life and space has five units of life. Trees have got six units of life, animals have got seven units of life, human beings have got eight units of life,
so they are called ashta vasu. Super human beings, or geniuses have blossomed
into nine units of life. Those are people who do an extra-ordinary
job. It need not be all positive, like Hitler.
Someone who does things which are inhuman,
in both senses, have got more units of life, nine units of life. Then humans can develop between nine to sixteen
units of life. When we die we become more powerful, in some
way. We go
between nine and ten units of life. This is strange, but true. That’s why ancestors are worshipped. The moment this body
drops, the spirit becomes free and it has more access there are no walls, no doors and nobody can
stop them and the spirit moves around freely. Bound in the body
you have only eight units, you can only reach out to some. When you are nine units you have little more
power. But if you
die then you have access to the ninth and tenth unit, so you
get more access in the planet. That’s why people who are
dead have the capacity to bless you.
They have more life
than you because their spirit, which is freed from the limited
body, can know, can cognize and can bless you. You can feel their presence They can grant you
some boons, not all. To whatever extent they are
powerful, that much they can bestow blessings on you. That’s one of the reasons that bodies
are buried behind the church. To make that place more powerful. So, ancestors have got
one step more power. In Sanskrit, they are called pitrs. There is one spirit which is
one grade higher than the pitrs. They are kinnaras. Kinnaras are those souls who are behind big
social-work or political set-ups, etc. Then comes the Gandharvas. The Gandharva souls are
behind every successful artist.
A great musician is not an
individual person who is singing. Through him there is a spirit
called a gandharva, and gandharvas bring you great fame. And they bring joy and happiness to the
population. But they make the person very miserable. See, Michael Jackson. I think that he's brought joy to so many
people, but his personal life is so miserable. Michael Jackson is one example, but there
are plenty of musicians and great celebrities. Beethoven & all of them you see. You take the history and look into them The only musicians that were happy were
the ones who found a path the ones who had a Guru. If they find a Guru, if they
have a path, they are liberated. Other than that they will be
famous. They will bring joy to others. But in their personal life
they will be miserable. Then, from the Gandharva level is the yaksha level, an other grade of souls.
Yakshas bring lots of wealth Very wealthy people are blessed by Yakshas Here again, Yakshas can bring comfort But they don't give the joy or happiness from their progeny. They are not satisfied with their own children. Or their children's behaviour Or their children's career Or something to do with their progeny makes them miserable. They don't know happiness from the progeny. If it happens in one generation, it will definitely not be so in the next generation.
Within the 3 generations they will be miserable. .
Again, if they walk on a spiritual path, this is
avoided. These are yaksha souls Every city has a Yaksha. New York has a yaksha, Los Angeles has a yaksha. Yaksha is the collective spirit of a place And there are so many yakshas. Beyond the Yakshas, one more level are the Devas Also called Angels. They are in between Yakshas and Siddhas. The perfected beings = siddhas There are 33 types of Devas And our body is governed by the Devas Devas are also called gods and goddesses. Deva means gods and
goddesses. It is not the God but gods and goddesses. an aspect of the divinity. The spirit which loves diversity expresses
itself in diverse forms. These diverse forms of that one spirit are
devas. Another example is one white light, when it
breaks up through a prism, so many colours emit, seven major colours But then so many shades and mixtures of those seven colours gives you a multitude of colours In the same way, from the Yaksha, a step higher is Devas Devatas, Devis.
So many different types of Devi, Devatas are there. So many types of spirits. You can call them angels. All only benevolent. And there are various qualities which are expressed in us that are part of the Devas. Brilliance is a Deva in you. Compassion is the blessing of a Deva. If you are happy, that is the blessing of a Deva Or the quality of a Deva getting manifested in you. So the yakshas, then devas and then siddhas. A siddha is a perfected human being who has
gone deep in meditation. Siddha, Guru – that is the level. They are kept a step above the
devas. That’s why in puja, when anything happens,
first Guru is honoured and then devatas. Gurubhyo Namaha – it starts from there. This is the tradition:
Guru and deva, yaksha, gandharava, kinnara, pitrus and human
being. There are these many levels of spirits..
Climbing the Wealth Pyramid: From Rich to Ultra Rich Lifestyles
Jason 0 Comments Retire Wealthy
did you know that there are billionaires that most billionaires can only dream of becoming you might be surprised to learn that not all billionaires are equal while some own businesses and corporations others own Industries and even countries once you understand this you will realize that the difference between these levels of wealth is quite staggering in this video we'll be exploring the levels of wealth and what life is like at each of these different levels we would also delve into how the ultra Rich spend their money including some of their most bizarre and extravagant purchases chapter 1 wealth in perspective so what is a billion dollars say you earned one dollar per second it would take you about 11 and a half days to make one million dollars now to make one billion you would need to earn that one dollar for over 31 and a half years so while it is very easy to think of wealth in terms of rich or poor it simply is not enough wealth classification is broader than that to begin with there is a huge difference between what a millionaire can do and what a billionaire can do worthy of note is the perspective of price which in turn feels relative to how much you earn let's compare someone earning fifty thousand dollars a year with someone earning 500 million dollars a year you see that is ten thousand times more the average guy spending thirty dollars is equivalent to the billionaire spending three hundred thousand dollars on a Lamborghini similarly a 10 million dollar piece of art would feel like one thousand dollars the difference here is that these purchases would feel so major to the average guy but to a billionaire it is not chapter two levels of wealth now let's put these guys on different levels let's see just how wealthy one can be starting at the bottom of the food chain is the top one percent we know you already had an idea of what the one percent is but give us a minute this phrase has been synonymous with being extremely rich for so long that to think otherwise seems unnatural so what is the one percent when your income is over about five hundred thousand dollars a year you would technically be considered a part of the top one percent of worldwide earners but if you are in this category you will quickly realize that you are not as rich as you think you can usually afford a nice house and a flashy car but those things come at an even higher cost to maintain and if you are working a full-time job you would feel even less financially secure this is actually why after this level wealth starts being measured in net worth rather than income the guys in the next levels of wealth don't earn their money from a salary it's mostly a case of more wealth and more assets the next level of wealth would be the guys with a net worth of 10 to 30 million dollars you can live comfortably at this level because all your needs are met easily you have a really nice house you would fly first class international only be able to book a two thousand dollar Suite when you feel fancy and most importantly no random financial situation can disrupt your life and status but at this level you still have to be smart about big decisions and in the banking world you will definitely not be classified as an ultra high net worth individual which of course brings us to the next level the guys with a net worth of 30 million to 100 million dollars if you get to this point you can kind of rest easy you are now playing in the big leagues what does this mean with a huge stake in a very large company five-star hotels and multiple Villas in Santorini Dubai or the French Riviera you probably wouldn't even mind that you would be spending about twenty thousand dollars per night you can also afford to pay for ease you know you have people running around at your every whim you have assistance for everything they take care of your schedule and stay on top of your appointments now when it comes to appointments and meetings you barely spend your time with people who do not matter whether you like it or not your Social Circle has evolved you now have access to the most influential people in business entertainment and politics but of course there is a downside to always being surrounded by other super rich and influential people the danger is you might start to feel like you do not have enough you may soon realize that you're new for sorry is not all that because your friend got himself a limited edition version you might return home from dinner with a congressman to find out that your billionaire friend just had dinner with the president it is something of a slippery slope if you get to this point you could either fall off in an attempt to achieve more or actually unlock the next level and that is the net worth of 100 million to a billion dollars to get to this level you definitely have ownership or control of a well-known company almost any experience you can dream up you can have say you feel like playing golf with your favorite golf player all you would have to do is tell your people to call his people at this level you can afford the most bizarre things on the planet like a 24K karat gold toilet a limited edition pen worth over two million dollars with nearly a thousand diamonds engraved on it all this luxury and yet you are still not at the final level chapter 3 the billionaire level now let's talk about the big guys the very few people who have built a net worth of a billion dollars and above if you study all the rankings like the Forbes list you would see that the very top 25 billionaires have more wealth between them than the poorest 50 percent of the entire world oh wait you never considered this we will get to that in a bit for now let's visualize the life of the billionaires we know about Elon Musk Jeff Bezos Bernard Arnold Mark Zuckerberg Bill Gates these names are fixtures on the Forbes list they can buy anything on this planet literally anything say a private island with a standby yacht to get you there whenever you want yes we have spoken about luxurious items and experiences but at this level it is a whole new world at this level you can buy access to almost anyone on the planet a billion dollars would also get you respect and even influence you can influence big changes in the world make an impact through philanthropy and charity you can clean water for villages in Africa fund new hospitals save endangered species and so on most interestingly you could afford to buy time your time is precious to you so thankfully you can afford to pay for Speed and ease no waiting in lines or sitting around according to Forbes there are 2 640 billionaires in the world do you think there are more would anyone go out of their way to hide just how wealthy they are share your thoughts with us in the comments like this video if you have enjoyed it so far subscribe to the channel and hit the notification Bell so you don't miss any upcoming videos like this chapter 4 the billionaire you do not know about what if we told you everything you've been told about billionaires is just one big lie it might surprise you that quite a number of people are just as rich or even richer than the Forbes billionaires we mean there has to be a reason Elon Musk is convinced that Russian President Vladimir Putin is richer than him he has a publicly disclosed official salary of one hundred forty thousand dollars but according to some experts Putin has assets that would total up to 200 billion dollars where does this conspiracy come from you see over the course of his presidency trillions of dollars have passed his hands so even if he only managed to keep a tiny percentage of let's say a trillion dollars imagine how rich he is Believe It or Not There is actually a whole segment of rich people who always appear on the Forbes list but don't even have a few million dollars these people are just paper rich they have companies that employ thousands of people and may even have a good product on their hands but their companies burn more money than they bring in did you know that Elon Musk acquired Twitter using a leveraged buyout that is essentially borrowed money not to say he is broke or anything because there are a number of reasons why he did that the point is you would often see people like this making the Forbes list while the people who you don't see are the ones who actually make the big moves these billionaires don't just make money they are the ones with unlimited access to cash they control countries and Global Supply chains their decisions impact not just themselves or their families but literally thousands if not millions of people globally take the Crown Prince of Saudi Arabia for example since 2018 Forbes has excluded all Saudi billionaires from its list but it is a well-kept secret that the prince popularly known as MBS has full access to trillions of dollars in Saudi Arabia's public investment fund this is the height of power behind the scenes access to anything in control of anything or anyone they desire here you might be feeling a little inspired right now you could also be feeling like you do not have enough or maybe there is a little anger in your heart now that you have truly seen how wide the gap between the Haves and halves not really is whatever the case may be we think that one's goal in life should not be uncountable riches but rather happiness at every level of life you should strive to be happy because the truth is nobody truly has it all these ultra-rich people also live difficult lives they can only afford to hide it better it is easy to feel little but the fact that you have access to a device and an internet connection to listen to this means you are not so down the line you are actually richer than you think there is no guarantee that abundant wealth will make you happier than you are right now so always remember you have enough and most importantly you are enough
Top 3 Do’s and Don’ts for Building Wealth
Jason 0 Comments Retire Wealthy
[Music] welcome in coming up on today's program top three do's and don'ts for Building Wealth I hear folks say I'm good at the don'ts of Building Wealth or the dues don't they require money don't they wealth how to get it how to keep it and how to avoid the trip wires that could blow it when it comes to wealth what are you experiencing with the do's and don'ts we've had many viewers ask about that let us know what you think in the comments section you're watching what's next with money a program that holds a promise of second chances for growth and financial empowerment with wealth three critical principles and advice saving for wealth how to keep wealth what not to do when you're on your way to wealth but also when you are wealthy we're going to reference a lot of great Insight from the psychology of money book by Morgan Hansel and have a link to it in the comments section now we're talking about that top three do's and don'ts for Building Wealth here's number one you saving your way to wealth this is how to get it Building Wealth has little to do with your income or investment returns but it's got a lot to do with your saving rate Morgan talks about that savings rate wealth is the accumulated leftovers after you spend what you take in now this is actually pretty easy to control if you latch onto this idea learning to be happy with less money creates a gap between what you have and what you want it's kind of like that Gap created if you've got a growing paycheck your savings goes further and can get bigger as that income Rises but savings without a spending goal attached gives you options and flexibility now folks I want to actually repeat this this is the core idea of wealth building savings without a spending goal attached gives you options and flexibility this is the concept of saving just to save but you get time to think and set your actions and intentions on your own terms a great writer and business advisor Dan Sullivan who wrote the Strategic coach calls this a walk away fund and we've talked about this in some of our other videos this is if you've got enough savings you've had it with your job or there's something unethical happening there you can walk away and do okay and reset your career path by Saving in this manner your financial Independence grows and folks I have personally lived this flexibility gives you the ability to wait for good opportunities in your career small business and especially your Investments the hardest Financial skill is getting the goal posts to stop moving according to Morgan it gets to the classic case of more versus enough and a quick example the real estate business my wife and I started we could have kept going to develop and acquire more properties but at some point we stopped we met our goals and we paid our debts early and completely all out of rants with no outside partners yet we're still actively investing in other forms of assets and Equity markets but I had to stop and think who or what was I trying to impress if I kept making the real estate business bigger would it be other people who don't know me or don't care you know we reached a Target that was very good and it's still growing in value and wealth we did not need to move the goal posts and we didn't generating wealth is often linked to generating Envy they seem like they're on Parallel slopes on a graph in other words it's a form of social comparison and we're talking about the top three do's and don'ts for building well here's number two getting wealthy and staying wealthy this is how to keep it bottom line strive to consistently not screw up we have to hold in our minds and our attitude some combination of frugality and paranoia now this is a very unique tension but it's very profitable with frugality we live below our means with paranoia we're questioning am I doing the right thing and am I doing that right thing well but by keeping on learning and getting professional advice we can do this so getting money is one thing keeping it is another getting money requires taking risks being optimistic putting yourself out there keeping money is kind of the opposite of taking risks it requires humility back to that frugality and it requires a little bit of fear paranoia the idea that what you have made and achieved can be taken away and that some of your financial investing success and I would add real estate success you've got to admit some of this is attributable to luck the time you're in the markets or you're buying them I could list probably five examples of luck during real estate and other types of investing bottom line here past success can't be relied upon to be repeated indefinitely external events markets family needs change and we change the ability to stick around for a long time without wiping out or being forced to give up staying in the game not capitulating is financial endurance it's a key to Building Wealth powering through recessions and downturns smartly we have many videos that help you do this on our what's next with money Channel swinging for the fences and investing for home runs or grand slams can put your portfolio at risk so strive with investing to hit singles and doubles and obviously don't put all your eggs in one basket a friend of mine years ago said if you had an investment if it doubles sell half and this is really about stocks if it triples sell it all it's pretty good advice I don't always follow that some to my regret we have another set of videos they're actually too called investing in what you know where I talk about letting your winners run compounding only works if you can give assets years and years to grow Warren Buffett we've got several of his books here hasn't always been one of the richest men in the world as of this taping this guy is age 92.
Warren Buffett didn't even become a billionaire until he was 50 years old in fact this blew my mind 99 of Warren Buffett's net worth was earned after that 50th birthday I have seen this pattern and dimension of net worth growth first hand and we've got a fantastic video called net worth equals net wealth so if you're getting value from this video be sure to hit that subscribe button and the like button and share it with folks it's free and non-commercial we're talking about the top three do's and don'ts for Building Wealth and here is number three wealth what not to do this is avoiding the tripwires Warren Buffett's what not to-do list is really interesting he's not loaded with debt no he didn't panic and sell during the 15 recessions he's lived through as an active investor he does not jump into excessive Trading he's generally very tax sensitive and he pays for good advice to help you he's kept a sterling business reputation with his ethics he's not locked into one strategy world view or trend he did not use other people's money but he does use Insurance floats and we explained that in some of our videos how Berkshire Hathaway is structured he did not quit he kept going he is still going and I take great excitement from this as an investor small business owner and media influencer I can keep going you can keep going Warren Buffett and his partner Charlie Munger have stayed wealthy they had an edge and survived to stay wealthy requires that margin of safety he talks about so much reserves and to not put all of your assets at Great risk think about this concept and it comes from Morgan's psychology of money book that having cash buckets to prevent you from selling during a bear Market or a downturn if you need to pull money for your household or in retirement you take it out of the cash bucket you don't sell stocks or mutual funds when when they're under pressure or low and you might think wait a minute I'm only earning an interest rate of one or two percent on that cash actually you have avoided a loser return you've avoided much more negativity by having not to have to sell that stock at a low price you didn't sell equities at low prices so that return on that cash is higher than one or two percent now what about compounding compounding means good returns uninterrupted over long periods of time and that's what Berkshire Hathaway does now returns won't be up every year only Bernie Madoff claimed that and you know how that turned out so be sure to hit that subscribe and like button and don't forget to share new episodes of what's next with money or posted on Thursdays I'm Bretton Eiser looking to see you next time on what's next with money [Music] thank you
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How to experience Wealth.#shortsvideo #deepmeaning #motivation #inspirational #motivationquotes
Jason 0 Comments Retire Wealthy
How to experience Wealth.#shortsvideo #deepmeaning #motivation #inspirational #motivationquotes
200 ★POWERFUL★ Abundance Affirmations & Images #1 – Wealth Prosperity Cash Law of Attraction Money
Jason 0 Comments Retire Wealthy
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Finance Cheat Code Only The Wealth Know 🤫 #shorts
Jason 0 Comments Retire Wealthy
this is a financial cheat code that the wealthy are not sharing with you and if you want to become rich you have to re-watch this video let's say you take out a loan which you don't have to pay any taxes on it the rich would use this debt to go and buy assets that appreciate your value they then use appreciated assets value as it grows to borrow even more money from the asset which is also tax-free and have the assets cash flow okay to the impassive income subscribe for more financial breakdowns.
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