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Transcript

Why $100K Isn't Enough Anymore (The Truth They Hide) · The Table with Anthony ONeal

0:00
[SPEAKER_00]: Let's be honest, most people are stressed and stuck in the paycheck to paycheck cycle, because they were never taught how money actually works.
0:09
[SPEAKER_00]: That is exactly why I built this channel.
0:13
[SPEAKER_00]: Every week, my team and I are breaking down how to master your money, how to get out of debt, say, invest, and build wealth without borrowing a dime.
0:23
[SPEAKER_00]: No flood, no hype, just real money taught that actually helps you win financially.
0:29
[SPEAKER_00]: You see, because money impacts every aspect of our lives, our peace, our relationships, and even our future.
0:34
[SPEAKER_00]: If you don't take control of it, it will love control you.
0:38
[SPEAKER_00]: And if you're tired of just surviving and you're ready to build wealth guys way, you're in the right place.
0:43
[SPEAKER_00]: Over 900,000 people have already subscribed to our YouTube channel with over millions of downloaders and our applicants by the five podcasts.
0:50
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0:58
[SPEAKER_00]: Hit that subscribe fan, join this community, let's build real wealth, let's build real financial freedom together.
1:07
[SPEAKER_00]: It's your boy, hit that subscribe, let's get back to the show.
1:11
[SPEAKER_00]: If you're making $100,000 and still for a brope.
1:14
[SPEAKER_00]: This honestly may not be your fault.
1:17
[SPEAKER_00]: You see, same as he just revealed why your six figure salary might be worth $8,000 less depending on where you live.
1:27
[SPEAKER_00]: Family we've done a show about the top five states.
1:31
[SPEAKER_00]: You want to avoid when it comes to building your financial future.
1:35
[SPEAKER_00]: And then the five states that you should move into if you want to start somewhere that will help you.
1:44
[SPEAKER_00]: Even if you're not making $100,000 a year yet, this show is still for you because it's going to help you understand what's happening.
1:52
[SPEAKER_00]: When am I about to show you will change how you think about money forever?
1:57
[SPEAKER_00]: Listen, 45% of Americans say they need $100,000 to fill financially secure.
2:03
[SPEAKER_00]: Yet, the median household income is only right around $80,610.
2:06
[SPEAKER_00]: I want to pause right there to make sure you
2:14
[SPEAKER_00]: Thank you.
2:15
[SPEAKER_00]: When we say household income, that means you have two or more inside the house and all the money inside of that house as up to about $80,610.
2:22
[SPEAKER_00]: Media and simply means that there are 50% of people who make less than $80,610.
2:25
[SPEAKER_00]: And there's 50% of people who make more than $80,610.
2:26
[SPEAKER_00]: That is the median household income of two or more people making that money.
2:28
[SPEAKER_00]: So, when you finally hit that milestone and you're still struggling,
2:45
[SPEAKER_00]: That's not a U-problem that could be a system problem.
2:49
[SPEAKER_00]: And today we're gonna be breaking down the five reasons why a hundred thousand dollars isn't and may not be enough anymore.
2:56
[SPEAKER_00]: And what you can do about it, because knowledge without action is just entertainment.
3:02
[SPEAKER_00]: And we're not here for entertainment.
3:04
[SPEAKER_00]: We're here to build a true world.
3:08
[SPEAKER_00]: Can I be real with you, my friend, during today's show?
3:12
[SPEAKER_00]: I've been there.
3:14
[SPEAKER_00]: I felt that frustration of thinking a certain income would solve all of my problems.
3:20
[SPEAKER_00]: Only to realize the game is somewhat rigged, once you see the matrix, you can't unsee it.
3:29
[SPEAKER_00]: Here's Reason Number 1.
3:31
[SPEAKER_00]: The state tax trap.
3:34
[SPEAKER_00]: Here's something that will blow your mind.
3:36
[SPEAKER_00]: If you're making $100,000, let's say in Oregon, you're taking home about $70,540 to about the year.
3:39
[SPEAKER_00]: But watch this, that same $100,000 in Texas.
3:40
[SPEAKER_00]: You keep about $78,736.
3:54
[SPEAKER_00]: That's a 8,196 difference, every single year, just based on where you sleep.
4:05
[SPEAKER_00]: Remember, I told you in our previous show, just a couple of weeks ago, that it really doesn't matter about your income and matters about where you live.
4:16
[SPEAKER_00]: You see, the worst states for your paycheck, Oregon, still is about $8,196 from you.
4:20
[SPEAKER_00]: At an 8.2% effective, effective tax rate.
4:21
[SPEAKER_00]: Hawaii, $6,157 at a $6.16 effective tax rate.
4:23
[SPEAKER_00]: California grabs about $5,327, which is about $5.33 effective rate.
4:25
[SPEAKER_00]: Now, the best states, eight states.
4:46
[SPEAKER_00]: where they're not taxing your income, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, falls right there, not Washington, D.C.
4:59
[SPEAKER_00]: Washington, Alaska, and New Hampshire.
5:04
[SPEAKER_00]: You keep $78,736 if you had an income of $100,000.
5:16
[SPEAKER_00]: I'm not telling everyone to move, but you do need to understand the game.
5:21
[SPEAKER_00]: If you're in a high tax state, you better be making that location work for you.
5:27
[SPEAKER_00]: Because $8,000 a year is $80,000 over a decade, that $80,000 could be a down payment on I.
5:39
[SPEAKER_00]: So what I need you to do, I'm gonna give you all a couple of action steps today.
5:43
[SPEAKER_00]: Here's a very first action step.
5:45
[SPEAKER_00]: I need you to calculate your actual take home pay right now.
5:50
[SPEAKER_00]: You can't manage what you do not measure.
5:54
[SPEAKER_00]: As a matter of fact, I wanna make sure this is,
5:59
[SPEAKER_00]: in my form.
6:00
[SPEAKER_00]: I do believe that it is.
6:01
[SPEAKER_00]: It is.
6:02
[SPEAKER_00]: I was going to make sure in my wealth builder tool $9.99.
6:07
[SPEAKER_00]: It should be up in the screen right now.
6:08
[SPEAKER_00]: You can see it by going to amptonnino.com for us last store and click on the wealth builder tool.
6:15
[SPEAKER_00]: Inside of that you can honestly type in.
6:17
[SPEAKER_00]: Okay, this is my gross pay.
6:20
[SPEAKER_00]: I am married.
6:21
[SPEAKER_00]: I am single.
6:22
[SPEAKER_00]: We will calculate how much money you actually
6:29
[SPEAKER_00]: X amount of dollar in taxes and you should be seeing X amount of dollars net a year.
6:36
[SPEAKER_00]: So go to anthonylo.com for us to start to get that.
6:39
[SPEAKER_00]: Here's the reason number two.
6:41
[SPEAKER_00]: The inflation killer.
6:42
[SPEAKER_00]: The silent thief robbing you blind.
6:46
[SPEAKER_00]: Inflation.
6:48
[SPEAKER_00]: As he prices increased 2.9% in 2024, meaning your 100K salary is now worth $97,100, and purchasing power from last year.
7:01
[SPEAKER_00]: But here's what gets me really heated.
7:04
[SPEAKER_00]: People keep money inside of a regular savings account, earning 0.01 to 0.05%.
7:08
[SPEAKER_00]: While inflation eats 2.9% annually.
7:17
[SPEAKER_00]: That is complete financial suicide.
7:21
[SPEAKER_00]: I want to give it a math though.
7:22
[SPEAKER_00]: I want to break this down and hopefully we can have this up on the screen.
7:25
[SPEAKER_00]: So I'm going to try and say this correctly.
7:27
[SPEAKER_00]: I'll say, egg, then put it up on the screen for us.
7:29
[SPEAKER_00]: Here's the math.
7:31
[SPEAKER_00]: $10,000 and irregular savings loses $290 in purchasing power annually.
7:35
[SPEAKER_00]: So over 10 years, that's say $2,900 in loss wealth.
7:45
[SPEAKER_00]: This is why I recommend a high yield savings account.
7:50
[SPEAKER_00]: For example, my friends over at sofa offer competitive rates that help your money keep pace with inflation, because keeping money in a regular account isn't safe, is a guaranteed loss.
8:03
[SPEAKER_00]: Listen, your bank is making money off your money while paying you nothing.
8:09
[SPEAKER_00]: I'm saying one more time.
8:11
[SPEAKER_00]: your bank is making money off of your money while paying you out so loopy pennies on a dollar.
8:21
[SPEAKER_00]: They're lending your deposit at a 7 to 8% rate and giving you 0.01.05.
8:27
[SPEAKER_00]: Oh heck no, that is hard way robbery.
8:35
[SPEAKER_00]: So here's the action step for this one.
8:39
[SPEAKER_00]: get your money out of that account and move it into a high-year savings account today.
8:47
[SPEAKER_00]: And so what I did while I enjoy and I promote and love so far, I also know not everyone's going to use so far.
8:55
[SPEAKER_00]: I like so far because they give you extra $300.
8:59
[SPEAKER_00]: Once you open up a savings account and a checking account with a direct deposit, they give you $300 cash.
9:06
[SPEAKER_00]: But there are other savings account, there are out there that are real good offering, good interest rates.
9:11
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9:16
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9:23
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9:28
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9:30
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9:32
[SPEAKER_00]: Click on one, open up in account two days.
9:36
[SPEAKER_00]: Stop thinking cash is safe.
9:39
[SPEAKER_00]: It's only safe for market.
9:43
[SPEAKER_00]: Not inflation.
9:45
[SPEAKER_00]: What's going to happen?
9:46
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9:50
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10:05
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10:53
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11:04
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11:13
[SPEAKER_00]: Here's reason, reason, reason, reason, reason, reason number three.
11:18
[SPEAKER_00]: And this gets me.
11:20
[SPEAKER_00]: To this day, I will be honest, I have to fight myself literally in a mirror.
11:25
[SPEAKER_00]: Now, I got a scream at myself when I am looking at certain things and it's called the lifestyle and flashing disease.
11:37
[SPEAKER_00]: Here's a scary set.
11:39
[SPEAKER_00]: 61% of Americans are these six figures still live paycheck to paycheck.
11:44
[SPEAKER_00]: This is based off of the CNBC report.
11:50
[SPEAKER_00]: Anthony, whoa, whoa, whoa, whoa, you're telling me someone who makes about $85, $100 a month.
11:59
[SPEAKER_00]: And more are still broke.
12:03
[SPEAKER_00]: Absolutely.
12:05
[SPEAKER_00]: I know people who make $100,000 a month and they're still living paycheck to paycheck.
12:12
[SPEAKER_00]: It's called lifestyle inflation.
12:15
[SPEAKER_00]: You hit $100,000 in suddenly, you deserve a nicer apartment.
12:19
[SPEAKER_00]: $500 more a month, you make $100,000, you hit $100,000 a suddenly, you need a reliable car.
12:22
[SPEAKER_00]: So now you're going to get you a new $1,000 car, baby.
12:33
[SPEAKER_00]: Now, to sudden you hit 100,000 on salary, and you should eat better.
12:38
[SPEAKER_00]: So now you're paying $200 a state, rather than paying $25 for one of the state.
12:43
[SPEAKER_00]: You're going to stake 48, rather than going to Applebee's, because who eats at Applebee's in Chick-fil-A?
12:51
[SPEAKER_00]: I'm too good for Kristen Chicken.
12:58
[SPEAKER_00]: You hit $100, and suddenly you can't afford subscriptions.
13:04
[SPEAKER_00]: Death by a thousand cuts, I would say.
13:08
[SPEAKER_00]: You see, your expense is grew faster than your actual income, because we started justifying what's going on.
13:16
[SPEAKER_00]: And I remember when I first started making good money, I upgraded everything, even my experiences.
13:24
[SPEAKER_00]: I was making more.
13:26
[SPEAKER_00]: but had less savings at $80,000 and I did at $50,000.
13:29
[SPEAKER_00]: I was honestly more freer at $50,000 and I was at $80,000.
13:38
[SPEAKER_00]: Because when I really started making $80,000 to $100,000 a year, if I'm being just honest and transparent, in my 20 selling cars, I'm going to the shook club.
13:48
[SPEAKER_00]: In my 20s, I bought a BMW.
13:52
[SPEAKER_00]: Because my parents had one, I was like, y'all, I can do that.
13:55
[SPEAKER_00]: If my parents can do it, I'm a gistemous man, it's them, I can do it.
13:59
[SPEAKER_00]: I went and got me a two-bedroom condo.
14:02
[SPEAKER_00]: Not a one-bedroom, a two-bedroom condo.
14:05
[SPEAKER_00]: And I gave it a community.
14:10
[SPEAKER_00]: I was making money.
14:12
[SPEAKER_00]: But I was living paycheck to paycheck.
14:17
[SPEAKER_00]: And I had no money in my savings.
14:22
[SPEAKER_00]: That's when I learned a difference between looking rich and actually being wealthy.
14:29
[SPEAKER_00]: The formula for every $1 raise, most people increase spending by $1 in 20 cents.
14:39
[SPEAKER_00]: That's why raises don't feel like raises, because when we get the money, okay, I can now afford this.
14:52
[SPEAKER_00]: told you we're doing action steps on today's episode here's an action step if you can honestly look in your mirror and say, you know what that is me and before I give it this action step I've said this several times man just because you can afford something doesn't necessarily mean that you need something
15:13
[SPEAKER_00]: Man, just recently, man, I was thinking about trading in, I say about three months ago.
15:19
[SPEAKER_00]: I went and test drove a brand new Ferrari, the Ferrari SUV.
15:28
[SPEAKER_00]: And I'm a get-to-one day, for sure, for sure.
15:32
[SPEAKER_00]: But I asked myself, I said, we agree.
15:37
[SPEAKER_00]: Anthony, you really need it, man, you got two real nice cars,
15:43
[SPEAKER_00]: I get it, you can afford it, but do you need to spend that kind of money right now?
15:49
[SPEAKER_00]: Hey, y'all, I'm a lot, when I test show that thing, that thing, oh my gosh, like, oh my gosh, I will have it one day.
16:01
[SPEAKER_00]: But I have this rule, anything above $500, I gotta think about it for 48 hours, anything above $5,000, I gotta think about it for 72 hours.
16:12
[SPEAKER_00]: And as I was thinking about it, and just being honest and transparent myself, I said you got the money, you can do it.
16:24
[SPEAKER_00]: But what's the opportunity cost?
16:26
[SPEAKER_00]: If I say yes to spending, X amount of dollars over here.
16:31
[SPEAKER_00]: What am I saying no to and is it worth it?
16:34
[SPEAKER_00]: And when I answered that question, my honest answer as much as my flesh didn't like the answer, my honest answer was, it's not worth it.
16:43
[SPEAKER_00]: For the season of life that I'm in.
16:48
[SPEAKER_00]: Here's the action stuff.
16:51
[SPEAKER_00]: Freeze lifestyle for one year after income increases.
17:00
[SPEAKER_00]: and you get a pay raise this year, don't change nothing at all for 12 months.
17:05
[SPEAKER_00]: And more than likely, by the time you get your next pay raise, you're gonna be like, oh, I mean, wow, like I don't need to, I don't need to change nothing.
17:17
[SPEAKER_00]: Because now remember, our greatest wealth building tool is that margin.
17:22
[SPEAKER_00]: the margin in between our income and expenses because that margin is what we invest at margins, what we save, that margin is what we flip.
17:31
[SPEAKER_00]: We'll leave them to the next action stuff which is automatically savings before you even see the money.
17:37
[SPEAKER_00]: Ask yourself, does this move get me closer to wealth or is it taking me further away?
17:47
[SPEAKER_00]: And I had literally ask myself,
17:51
[SPEAKER_00]: Yeah, I can afford it, but I got goals.
17:57
[SPEAKER_00]: I want my money by 50, 55, to be making more money than when I'm making today.
18:04
[SPEAKER_00]: and it doesn't require me to come in here.
18:07
[SPEAKER_00]: They sit down and talk to y'all.
18:09
[SPEAKER_00]: It doesn't require me to go out there and jump on the flight and leave my wife and leave my family and go out there and speak.
18:16
[SPEAKER_00]: No, no, no.
18:17
[SPEAKER_00]: So I gotta make the right decisions to put it into there.
18:19
[SPEAKER_00]: Now, I wanna be honest.
18:22
[SPEAKER_00]: I'm gonna get that car one day.
18:24
[SPEAKER_00]: It won't be in 2025.
18:26
[SPEAKER_00]: I'll tell you that much.
18:27
[SPEAKER_00]: It won't be in 2025.
18:28
[SPEAKER_00]: It will not be in 2025.
18:33
[SPEAKER_00]: Here's reason number four, the tax with holding mistake.
18:38
[SPEAKER_00]: This is a good, this is something that I'm always really trying to help people understand.
18:46
[SPEAKER_00]: Most six figure owners don't understand those taxes.
18:49
[SPEAKER_00]: Federal on state can take 25 to 35% but people just accept whatever employee employers with hope.
18:57
[SPEAKER_00]: Your money is sitting in a regular savings making pennies while inflation is eating lunch.
19:03
[SPEAKER_00]: Wow.
19:04
[SPEAKER_00]: That emergency fund that vacation money you've been stashing away, it should be working for you not just sitting there.
19:13
[SPEAKER_00]: Here's the thing.
19:14
[SPEAKER_00]: interest rates change every single month, and most people have no clue that missing out on some serious money.
19:22
[SPEAKER_00]: Every single day we update our list of high yield savings account that are the best so that your money makes more money while you work and while you're sleeping.
19:32
[SPEAKER_00]: We're talking about turning your savings into a wealth building machine.
19:37
[SPEAKER_00]: Don't let your hard-earned dollars stay lazy, on which to visit anthonyonio.com for slash savings right now and see which high yield savings account will put the most money back in your pocket today.
19:51
[SPEAKER_00]: Listen, go to anthonyonio.com for slash savings, choose an account, put your money in there, and I promise you, your future will say thank you, giving us some more money.
20:03
[SPEAKER_00]: I want to talk about these strategic moves that most people miss, and these are important.
20:10
[SPEAKER_00]: And this is something that I even teach and started my consumer economics class.
20:13
[SPEAKER_00]: Now, this is a little bit ahead of their time.
20:16
[SPEAKER_00]: But I want them to understand this now, and you all need to understand this.
20:19
[SPEAKER_00]: Number one, pre-task retirement contributions, which is I need you to max out your 401K.
20:27
[SPEAKER_00]: Now near 2025, I look at the updated numbers, your four-way contribution limits for a standard employee contribution in this year is $23,500.
20:40
[SPEAKER_00]: and a 22% bracket that saves a little over $5,000 in taxes.
20:46
[SPEAKER_00]: Now, your health saves account, triple tax advantage, all right?
20:52
[SPEAKER_00]: Now, this simply means I have an HSA.
20:54
[SPEAKER_00]: I mean, you can put it in tax free, you can spend it tax free, and whatever it grows inside is tax free.
21:04
[SPEAKER_00]: Let me make sure I have the correct numbers for you on that, as I can't remember me's up talking my head.
21:11
[SPEAKER_00]: But for the year 2025, it is $4,000, $300 for individuals and $8,000 and $50 for family members in a year of 2025.
21:14
[SPEAKER_00]: Number three, I need you to work with a tax professional.
21:29
[SPEAKER_00]: Stop doing your own taxes to save money and to get the most money back.
21:35
[SPEAKER_00]: You see, a good CPA saves more than actually what they calls.
21:39
[SPEAKER_00]: My CPA, she calls me $800 a month.
21:42
[SPEAKER_00]: Times that by 12, she saves me 10 times that.
21:47
[SPEAKER_00]: I'll probably say even 30 times that if I'm being honest with you because she understands the system and she's giving me the education.
21:59
[SPEAKER_00]: Here's a real example, I have a friend getting an $8,000 refund, was given to government interest free loans.
22:11
[SPEAKER_00]: So this means that my friend over the year, over pay taxes by $8,000, come January and February,
22:24
[SPEAKER_00]: This particular friend of mine got back to 8,000 that my particular friend gave to them last year, 100% interest free.
22:34
[SPEAKER_00]: I sat down with this particular friend and I said, hey, we're gonna adjust you with holdings.
22:39
[SPEAKER_00]: Now this particular friend invest that $667 monthly.
22:43
[SPEAKER_00]: Over 10 years, let's say we're about to eight to 10% return.
22:51
[SPEAKER_00]: That's an extra $100,000 of wealth from just that one strategic move.
23:00
[SPEAKER_00]: Why are you loaning the United States of America money when if you kept some of their money, not only they charred you interest, but they're also giving you a penalty.
23:12
[SPEAKER_00]: when I brought this illustration and this analogy up to my students and side of my consumer economics class, they were just bad for that no one explained this to them.
23:20
[SPEAKER_00]: Because they see their parents excited about that refund check.
23:24
[SPEAKER_00]: They see their parents and oh, this is my way of savings.
23:27
[SPEAKER_00]: And I said respectfully, that is an immature way of savings because you're lending your money to the government for free.
23:36
[SPEAKER_00]: But if you kept any of the government's money, they're taxing you.
23:41
[SPEAKER_00]: So what we have to do with an our community is get educated and understand like, hey, no, do you want to cut a check to the IRS at the end?
23:47
[SPEAKER_00]: You do not.
23:48
[SPEAKER_00]: Do you want to get a large check and return at the end?
23:51
[SPEAKER_00]: You do not.
23:52
[SPEAKER_00]: What do you want to do?
23:52
[SPEAKER_00]: You want to be in the middle and just break even.
23:55
[SPEAKER_00]: Maybe pay a $200, maybe get back $200, $200.
24:00
[SPEAKER_00]: But you want to keep as much money as you possibly can so you can invest that over the years.
24:05
[SPEAKER_00]: Here's Reason 5, the retirement reality check.
24:10
[SPEAKER_00]: It's Final Wake Up Call.
24:13
[SPEAKER_00]: I'm gonna put a number out here that I think the average person needs to retire comfortably and has 1.2 million dollars.
24:22
[SPEAKER_00]: Most 100,000 income owners think they're on track, but they're not even close.
24:27
[SPEAKER_00]: Here's a math.
24:28
[SPEAKER_00]: To replace $70,000 in retirement, you need 1.4 million dollars saved.
24:34
[SPEAKER_00]: Most people have less than 100,000 dollars invested.
24:39
[SPEAKER_00]: Most people, compound interest, it's just really our best friend and here's a reality.
24:47
[SPEAKER_00]: Start at $25, $500 a month equals 1.37 million at the age of 65.
24:50
[SPEAKER_00]: If you're starting at $35, years old, you're gonna need about $1,100 a month for the same result.
24:56
[SPEAKER_00]: If you're starting right around my age at $45, this is a wakeup call, you're gonna need about $2,600 a month.
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[SPEAKER_00]: to hit that 1.2 to 1.4 million dollars.
25:17
[SPEAKER_00]: Come back.
25:19
[SPEAKER_00]: If you're in your 20s and you're listening to this, in my escape plan,
25:29
[SPEAKER_00]: I teach, invest about 12 to 15% of your income.
25:33
[SPEAKER_00]: Depending on where you are in life, bare minimum that should be about 500 to $1,000 a month, you are investing.
25:42
[SPEAKER_00]: If you're in your 20s and you're just simply putting away $500 into a good mutual fund up until you're 65, you're gonna have about 1.37 million dollars at the time of just 500.
25:59
[SPEAKER_00]: And in the black community, you're going to be putting in way more than $500 eventually.
26:05
[SPEAKER_00]: So you should be anywhere between 2.8 to about $4 million at retirement.
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[SPEAKER_00]: Simply by doing the basic things.
26:13
[SPEAKER_00]: Remember this, we're not striving to be millionaires.
26:17
[SPEAKER_00]: We're striving to be net worth millionaires.
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[SPEAKER_00]: Meaning, I'm worth million, while I may not make a million dollars a year, I'm worth.
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[SPEAKER_00]: a million plus.
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[SPEAKER_00]: Because I worked the strategy.
26:36
[SPEAKER_00]: Because here's the truth.
26:38
[SPEAKER_00]: Social security is not going to work for us in today's downtown away, but it worked for our grandparents.
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[SPEAKER_00]: Your pension probably doesn't even exist anymore.
26:50
[SPEAKER_00]: It is solely on you and your spouse
26:54
[SPEAKER_00]: to focus on, what do we have to do to position ourselves to win?
27:00
[SPEAKER_00]: And time is your biggest asset, or time is going to be your biggest enemy.
27:04
[SPEAKER_00]: I'm going to say this, and it's going to probably rip some people wrong.
27:14
[SPEAKER_00]: I think my generation, we're gonna be the coolest, look, looking, grandparents, senior citizens in the world.
27:19
[SPEAKER_00]: We're gonna be tattered all the way, tattered all the way up, tats on our faces, tats on our necks, tats on our arms.
27:26
[SPEAKER_00]: We're gonna be the smoothest 70, 80, 90 year old senior citizens walking around, but I do believe, or we're gonna be the coolest looking ones.
27:39
[SPEAKER_00]: We might be the most struggling ones too.
27:43
[SPEAKER_00]: because we put so much money into our parents.
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[SPEAKER_00]: We put so much money into pleasing our wants and our desires that we did not take care of the foundation that can set us up to be cool looking wealthy individuals.
27:59
[SPEAKER_00]: So here's the action plan as we end today, show.
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[SPEAKER_00]: Go to Anthony O'Neill and use my calculator to see where you stand.
28:08
[SPEAKER_00]: I have a wealth calculator on there, so you can see exactly, like, hey, I can invest $300.
28:13
[SPEAKER_00]: I can invest $500.
28:14
[SPEAKER_00]: I can invest $50.
28:16
[SPEAKER_00]: Okay, cool, great.
28:18
[SPEAKER_00]: Let's do that.
28:19
[SPEAKER_00]: Well, let's start investing that into a good mutual fund, into a good ETF or a good index fund.
28:26
[SPEAKER_00]: No.
28:28
[SPEAKER_00]: Automate investments before you even see the money, open up an account with my friends over at Moomoo, by going to Anthonyonil.com for slash Moomoo.
28:37
[SPEAKER_00]: They're giving away free stocks.
28:39
[SPEAKER_00]: All you gotta do is open the account with $100 and they give away some Nvidia stocks.
28:44
[SPEAKER_00]: Take your employees for a 1K match, because that's 100% free money.
28:52
[SPEAKER_00]: I need you to start today.
28:57
[SPEAKER_00]: State taxes, inflation, lifestyle inflation, tax mistakes, and retirement really are stilling your wealth.
29:10
[SPEAKER_00]: But now, you know, the basics of the game, there's a simple question, what are we going to do about it?
29:21
[SPEAKER_00]: I tell this to people all the time within my community when I talk to them.
29:26
[SPEAKER_00]: that getting out of debt and making six figures isn't the fit is not the finish line.
29:33
[SPEAKER_00]: It's honestly the starting line.
29:36
[SPEAKER_00]: Your opportunity to build real wealth is right in front of you.
29:46
[SPEAKER_00]: I believe people in my community, we have an opportunity to build real wealth if you play it smart.
29:56
[SPEAKER_00]: So your next steps, after you watching, after watching and listening to today shows a calculator real take home pay.
30:04
[SPEAKER_00]: Move your money from a low savings account into a high-year savings account today.
30:11
[SPEAKER_00]: The link will be in side of the show description.
30:15
[SPEAKER_00]: I need you to freeze your lifestyle inflation for just 12 months.
30:19
[SPEAKER_00]: Tell your wife, tell your spouse, tell your kids, hey, listen, I know we're making more money.
30:24
[SPEAKER_00]: I know we see our money going up, but we need to make sure that our lifestyle is staying there.
30:30
[SPEAKER_00]: I'm doing the same thing right now.
30:32
[SPEAKER_00]: I'm not moving, I haven't bought anything major.
30:35
[SPEAKER_00]: I'm like, y'all, I'm just going to stay where I'm at.
30:38
[SPEAKER_00]: And just saving and investing to assets as much that possibly can.
30:45
[SPEAKER_00]: I'm even optimizing my tax strategy.
30:48
[SPEAKER_00]: I'm automating my wealth building.
30:50
[SPEAKER_00]: I need you to automate your wealth building.
30:52
[SPEAKER_00]: and continue getting the knowledge.
30:55
[SPEAKER_00]: Listen, share today's episode with someone who thinks getting out of debt is the end of our beyond or making $100,000 a year's end of our beyond.
31:03
[SPEAKER_00]: I mean, there's this thing in philosophy that not philosophy, there's this thing in the world now to whom here ladies say, man, it loans I got a man who's six feet tall, make six figures and it has a six pack.
31:16
[SPEAKER_00]: That is the one percentile of a man.
31:23
[SPEAKER_00]: I said, wow, I know men who are five, seven, five, eight, my height making 65, 70,000 dollars a year working as a school teacher and have more money than a six foot tall, six figure man with six pets and they got it maybe a dead body.
31:43
[SPEAKER_00]: Which I'm not saying a dead body is healthy.
31:45
[SPEAKER_00]: I lost my dead body and as y'all can see already.
31:50
[SPEAKER_00]: We've got to change how we look at money.
31:52
[SPEAKER_00]: We've got to change the money game.
31:55
[SPEAKER_00]: It's not about really how much money you make.
31:57
[SPEAKER_00]: What's that is important, but the true sign of health when it comes to money is how much money are you keeping?
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[SPEAKER_00]: And that's what I'm focusing on in a year, 2025.
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[SPEAKER_00]: How much money can I keep to grow?
32:17
[SPEAKER_00]: preferably you'll be doing the same.
32:19
[SPEAKER_00]: This is in comment below.
32:20
[SPEAKER_00]: And let me know your biggest takeaway from today's show.
32:24
[SPEAKER_00]: Make sure that you hit that thumbs up and hit that subscribe button.
32:28
[SPEAKER_00]: We're building something special here.
32:29
[SPEAKER_00]: I don't know if y'all can see the change to growth and side of me.
32:39
[SPEAKER_00]: I get excited about coming in to teach.
32:43
[SPEAKER_00]: because now I'm teaching every single day.
32:45
[SPEAKER_00]: Mondays, I'm a professor, a legit professor at Virginia Union University, a private HBCU enrichment regime.
32:53
[SPEAKER_00]: And then Tuesdays, I come here and record these amazing shows for you all.
32:57
[SPEAKER_00]: Then Wednesdays, I'm back up to school teaching.
33:00
[SPEAKER_00]: And then I'm also in class on Wednesday evenings.
33:04
[SPEAKER_00]: And then on Thursdays, I call that my study day to where I just study for school.
33:08
[SPEAKER_00]: And I study for you all.
33:10
[SPEAKER_00]: My Fridays, I take off.
33:13
[SPEAKER_00]: state and keep myself happy, you know, keep my mental clear.
33:20
[SPEAKER_00]: We're building something special.
33:23
[SPEAKER_00]: They say about 254 African-Americans will have zero to negative network that we will be in the
33:38
[SPEAKER_00]: I'm not the only financial educator.
33:40
[SPEAKER_00]: You got people out there like a Dave Ramsey, Tiffany Budget, Nens to Quartney, L, and Earn your leisure, Wall Street, Chabber.
33:49
[SPEAKER_00]: There's a lot of people out there that I believe want to see you all win.
33:56
[SPEAKER_00]: Oh, it's stewardship coach.
34:00
[SPEAKER_00]: There's a lot of great people out there.
34:05
[SPEAKER_00]: I'll probably say that myself and stewardship coach are probably the only ones who's coming for more of a spiritual angle, and I'm okay with that.
34:13
[SPEAKER_00]: I think what everyone else is doing is phenomenal.
34:17
[SPEAKER_00]: Everyone is not for me and everyone ain't for them.
34:19
[SPEAKER_00]: And so for the millions of you all who are rocking with me, thank you.
34:23
[SPEAKER_00]: I mean that, you all are family every time I meet you all, man, I'm just extremely grateful.
34:30
[SPEAKER_00]: Listen, we're trying to get ourselves down to about 30 to 35 minutes.
34:33
[SPEAKER_00]: Keep it there so that way they're strong, short, and impactful.
34:36
[SPEAKER_00]: So I'm going to go ahead and in today's show, I think, based upon myself, I don't know what we're going to be editing too, but I'm painting this show at 32, 33 minutes.
34:44
[SPEAKER_00]: All right, y'all.
34:45
[SPEAKER_00]: We'll see you in the next show.
34:47
[SPEAKER_00]: Peace out.