Why You Should INVEST 15% Of Your INCOME To CREATE WEALTH

The definition of rich according to Google is “ having a great deal of Money or Assets”, and when you type in google rich people, what comes up are celebrities, nice cars and a lot of fancy restaurants. And interesting enough, they all seem to be young and beautiful.

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1. The Question I get Asked is: Where do I invest, What do I invest into, How much do I invest, and how often do I invest. Then why?
– Where to Invest: I use m1 Finance its simple and free ( which are my two favorite words )
– What I invest into: Roth Ira or 401k, you only invest into a taxable account if you have more than $25,500 a year to invest ( because it makes sense to max out all the retirement accounts first )
– How much do I invest: 10-20% of your income, once you are debt free, and have an emergency account. ( this prevents extra stress and possible that you will prematurely sell your investment to cover surprises )
– How often do I invest: On a monthly basis Is fine or a bi-weekly basis is fine, but you have to consistently invest the same amount at the same time. ( dollar cost average )
– What Assets do I invest into: Index funds and ETFs: Large cap US, Large Cap International, Small Cap US, Real estate Reits and emergencing stocks

WHY? Is the questions I get after I tell people all this stuff

2. Lets run Some numbers
– If you make $4,000 a month
– 15% is that is $600 dollars a month
– $500 you can put into your Roth Ira to max it out and the $100 into your 401k
– This portolfio I gave you makes 8-12% on average throughout the marathon

10 Years from Now: 141k makes you $5,640 bucks a year
20 Years: 581k makes you $23,240 a year
30 years: 1.9M makes you $76,000 a year

This is Called the 4% rule: if you’re investments grow by 12% but you only take 4% you’ll never run out of money for a minimum of 33 years

Now remember This:
– If you also get a 15 year mortgage and pay extra ( in 10 years you have no mortgage )
– You can invest a lot more money
– But you can also enjoy the marathon also

3. Real example which is me ( And by the Time you watch this video, The course I’m creating should already be out )
– So here is my Life as one of the first testimonies of many, of Financial Freedom Steps Course

Tommy:
– I have 0 Personal Debt
– I have an emergency account with 6 months worth of emergencies ( for me that’s only $15k )
– I have an investment account: $320k total which pays me $12,800 a year
– I have a paid of home ( no mortgage, but if I did buy I would buy using our formula )
– So today: I have a lot of extra money to invest, to Enjoy and to Give

Confession:
– This marathon is one you have to run on your own and its going to take time, but as long as you do things correctly you will make it
– I have family, that I try to help with knowledge but all they want is money
– Remember knowledge beats money 10 out 10 times

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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