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10 Money Moves That Will Change Your Life Forever · Earn Your Leisure

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  Speaker 2: What are five things like a mandatory five things that
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  Speaker 2: they have to do as far as their personal finance
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  Speaker 2: in regards today stuff that we talk about.
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  Speaker 3: Number one, I love the debt snowball, So take off
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  Speaker 3: your your smallest debt. Aim to pick that off first.
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  Speaker 3: Number two, pick two to four stocks that you're going
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  Speaker 3: to invest in for the next ten to fifteen years
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  Speaker 3: of your life. Don't deviate from it. Number three, pick
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  Speaker 3: an amount that you are going to invest and don't
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  Speaker 3: deviate because sometimes people will hear these numbers and like, well,
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  Speaker 3: I don't have sixty grand to put into the market.
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  Speaker 3: Start with two hundred, and then once you see the
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  Speaker 3: two hundred go to four, you're going to find one
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  Speaker 3: thousand or fifteen hundred to then and put into the vehicle.
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  Speaker 3: Number three Not to be self aggrandizing, but to watch
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  Speaker 3: us every week, because if you do that, you're going
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  Speaker 3: to get a higher return on investment than if you
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  Speaker 3: watch on the shows. If I made you money, please
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  Speaker 3: put yes and chat. Look y'all, get the book. You
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  Speaker 3: deserve to be rich. Number four, find one or two
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  Speaker 3: people that you're going to have these conversations with. It's
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  Speaker 3: like having a sparing part nerve or someone to work
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  Speaker 3: out with. I don't want you to lean on them
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  Speaker 3: for accountability. But if like we've stuck together for five
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  Speaker 3: years and we kept telling y'all we're going to stick together, right,
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  Speaker 3: We've grown collectively and individually as a result. A lot
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  Speaker 3: of times I'll see people trying and do this on
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  Speaker 3: their own, and because they don't have someone to lean on,
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  Speaker 3: they don't stay in a game as long. And then
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  Speaker 3: number five kill the lifestyle creep like I see too
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  Speaker 3: many of us get to that first hundred thousand, first
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  Speaker 3: two hundred thousand and you get the blonde it on
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  Speaker 3: Mike Emery and you want to talk to me about tariffs,
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  Speaker 3: go shout with Johnny Dang. I see a lot of
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  Speaker 3: y'all come out here and go hit Johnny Dang and hey,
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  Speaker 3: how give your discount because people have been coming. I'm like,
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  Speaker 3: I know, it's fun to look like you have all
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  Speaker 3: the money in the world. It's more fun to actually
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  Speaker 3: have the money in your possession.
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  Speaker 4: That's effect. That's a fact. Now, that was great. That
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  Speaker 4: was great for me.
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  Speaker 2: It would be you have to secure your retirement, so
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  Speaker 2: you start to invest in your four to one k,
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  Speaker 2: have an IRA if you're self employed, have a set
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  Speaker 2: plan the things that we talked about, but you gotta
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  Speaker 2: have money or later on down the line of forced
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  Speaker 2: savings that you don't even think about. That is tax
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  Speaker 2: advantage where you're saving money on taxes. And you'll also
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  Speaker 2: be able to have a nest egg at some point
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  Speaker 2: in time in retirement because it's going to be here
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  Speaker 2: before you know it. So securing your retirement is a
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  Speaker 2: major thing. And then if you have kids, you had
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  Speaker 2: to plan for them. So we talk about five to
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  Speaker 2: twenty nine plan, which is how you can save money
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  Speaker 2: for college. Or you can have an UTMA account, which
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  Speaker 2: is how you can just save money for your child
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  Speaker 2: in general doesn't necessarily have to be used for college,
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  Speaker 2: but you want to secure or start to, you know,
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  Speaker 2: have some level of security for them, So that's important.
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  Speaker 2: You could put money away to earlier you start the
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  Speaker 2: better compounding interest. One of the things that weren't buffet
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  Speaker 2: you across the way life insurance. You have to make
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  Speaker 2: sure that you secure your life life insurance. We've had
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  Speaker 2: a lot of conversations about that. But if somebody's just
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  Speaker 2: starting out, that's a great thing to do for sure,
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  Speaker 2: you know, foundational purposes.
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  Speaker 4: As far as your financial plan.
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  Speaker 2: I would say dollar cost average into the stock market
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  Speaker 2: every single month from a brokerage account. You can open
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  Speaker 2: a brokerage account. Put one hundred, two hundred, three hundred,
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  Speaker 2: five hundred whatever you can afford. Whatever you can afford.
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  Speaker 2: But you know, Ian says two tech two index. You
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  Speaker 2: put together your strategy and you might have okay, s
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  Speaker 2: and P five hundred, I'm gonna put two hundred dollars
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  Speaker 2: into that every single month. I'm gonna put two hundred
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  Speaker 2: dollars in the Microsoft every single month. Put money into
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  Speaker 2: the market in a brokerag account. Force yourself for savings
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  Speaker 2: every single month. That's important outside of your retirement. Two
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  Speaker 2: different things. Your retirement what we call qualified. What's not
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  Speaker 2: retirement is non qualified. So non qualified is just regular brokerage.
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  Speaker 2: You can use that money whenever. You don't have to
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  Speaker 2: wait until you're fifty nine and a half. But you
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  Speaker 2: want to do two things simultaneously. And then the last
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  Speaker 2: thing I would say is a state planning. Put together
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  Speaker 2: a will if you at the point where trust makes sense,
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  Speaker 2: make sure your beneficiaries are listed.
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  Speaker 4: That's important. So those are five things that last.
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  Speaker 2: One for sure if you on your pathway, if you
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  Speaker 2: just start now, or even if you haven't just started out,
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  Speaker 2: you want to just look to make sure you're doing
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  Speaker 2: things correctly. Retirement, college savings, or just savings for your
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  Speaker 2: children in general, life insurance dollar cost average into the
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  Speaker 2: stock market every single month. And then a state planning.
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  Speaker 2: Make sure you have a will, a trust, put beneficiaries
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  Speaker 2: on things. Look to see if everything is set up.
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  Speaker 2: If you die today, will it be a mess? That's
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  Speaker 2: how you got to gage this. If I die today,
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  Speaker 2: is it going to be a mess? Meaning when I
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  Speaker 2: say Is it going to be a mess. Is it
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  Speaker 2: going to be how they going know with your passwords?
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  Speaker 2: Or how they going to know how to get into
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  Speaker 2: your bank account? How they gonna know where you have
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  Speaker 2: bank accounts at, how they gonna know? So what you
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  Speaker 2: should do is have a handbook where it's actually detailed,
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  Speaker 2: and you put it with somebody that you trust, your beneficiary.
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  Speaker 4: Your lawyer.
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  Speaker 2: So that way, it's hard enough you die, somebody is
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  Speaker 2: gonna have to make funeral arrangements. But just think about that,
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  Speaker 2: like you're doing all this stuff, you're acquiring all this stuff.
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  Speaker 2: You've got properties over here. If nobody knows about it, Yeah,
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  Speaker 2: probate your password or worst case scenario, it can get forfeited,
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  Speaker 2: or it's just not even it's just held. There's billions
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  Speaker 2: of dollars that's just held in suspense right now because
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  Speaker 2: nobody's ever claimed it, because nobody knows about it property.
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  Speaker 4: Think about it. Crypto, same thing.
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  Speaker 2: If you got crypto, nobody the coin base is not
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  Speaker 2: gonna call your family like, hey.
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  Speaker 4: You got dollars in ethereum waiting for you. What's your catchphrase?
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  Speaker 4: Twenty one word? I got to think about it.
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