Latest / The Table with Anthony ONeal / Audit Your Salary Before 2027: My Step-by-Step Plan to to Build 7-Figure Wealth on a 5-Figure Income

Transcript

Audit Your Salary Before 2027: My Step-by-Step Plan to to Build 7-Figure Wealth on a 5-Figure Income · The Table with Anthony ONeal

• 0:00
  [SPEAKER_00]: 542,000 month.
• 0:02
  [SPEAKER_00]: That is the average use car payment in America specifically today.
• 0:06
  [SPEAKER_00]: If we take on, let's say, right around, I'm going to say $400,500 a month.
• 0:11
  [SPEAKER_00]: That one line is about 12% of everything you have.
• 0:16
  [SPEAKER_00]: Everything.
• 0:18
  [SPEAKER_00]: I want to do something different today.
• 0:20
  [SPEAKER_00]: Before January 1, I do not want you to walk into 2027 the way you walk into 2026.
• 0:28
  [SPEAKER_00]: with the number on a paycheck and no page behind it, no strategy behind it.
• 0:34
  [SPEAKER_00]: So today, I'm running a live audit on a $6,000 a month budget or a $6,000 in income.
• 0:42
  [SPEAKER_00]: This is roughly about $72,000 a year.
• 0:45
  [SPEAKER_00]: And I want you to do this with me right through your own paycheck while you're watching it.
• 0:52
  [SPEAKER_00]: So before we go anywhere, I want you to think about
• 0:56
  [SPEAKER_00]: your average take home pay like what is your account your what is the number that hits your account every single month and as I'm going through this I want you to be going through the same thing when you're in okay here's what most people do in December they will set a goal actually let's be honest they'll do this in January more savings less debt and then they walk right back into the same two
• 1:26
  [SPEAKER_00]: Your paycheck is rarely the thing that failed you, your distribution did, and two signatures decided your distribution.
• 1:36
  [SPEAKER_00]: You signed them maybe four or five times in your whole adult life and they outvote every gross you run that you will ever make.
• 1:47
  [SPEAKER_00]: Four steps today, they're going to walk through.
• 1:51
  [SPEAKER_00]: find your real number, test your two signatures, but every single dollar on a page then run the order and order.
• 2:01
  [SPEAKER_00]: And I'm not making you sit here for 30 minutes, but okay, but it's Anthony talking about today.
• 2:05
  [SPEAKER_00]: You're gonna get the entire thing, the tire page, and the next two minutes.
• 2:09
  [SPEAKER_00]: So go ahead and get a pin, get a paper, because we're gonna really break this down right now.
• 2:15
  [SPEAKER_00]: Here's Stutton number one, is you gotta find your real number.
• 2:20
  [SPEAKER_00]: Before I explain, I would say a single line.
• 2:23
  [SPEAKER_00]: I'm gonna read you the whole page and exactly what this is
• 2:32
  [SPEAKER_00]: And I really do believe that, as I'm moving forward with this content, we've got to have a real conversation.
• 2:38
  [SPEAKER_00]: So here's the audit of $6,000 a month.
• 2:41
  [SPEAKER_00]: Giving, and air this, how does up on a screen?
• 2:44
  [SPEAKER_00]: Giving $600.
• 2:46
  [SPEAKER_00]: Let's put housing and utilities at $1,350.
• 2:48
  [SPEAKER_00]: Transportation at $450 food at $575.
• 2:50
  [SPEAKER_00]: Personal spending $325.
• 2:51
  [SPEAKER_00]: They're thinking fun $225.
• 2:52
  [SPEAKER_00]: Consumer debt $750.
• 2:54
  [SPEAKER_00]: And then they started their high-o savings
• 3:09
  [SPEAKER_00]: $225.
• 3:10
  [SPEAKER_00]: Now that total adds up to what?
• 3:13
  [SPEAKER_00]: $4,500.
• 3:16
  [SPEAKER_00]: And $4,500 is exactly what comes home.
• 3:19
  [SPEAKER_00]: Now if you see here, every single dollar has a job and the page ends at zero.
• 3:25
  [SPEAKER_00]: I need to write those eight numbers down because I'm going to show you where every one of them came from.
• 3:32
  [SPEAKER_00]: and what happens to all eight, the second you add one car payment.
• 3:39
  [SPEAKER_00]: Now, $6,000 a month gross, it's gonna be right around $4,500 a month net.
• 3:45
  [SPEAKER_00]: So you lose $1,500 every month, two people who we love the most to IRS.
• 3:52
  [SPEAKER_00]: Let us play it.
• 3:53
  [SPEAKER_00]: We don't love them but we respect them.
• 3:55
  [SPEAKER_00]: So that's 18,000 hours a year, 25% of your pay are already going to Uncle Sam, to Medicare, to health insurance before you even get paid.
• 4:05
  [SPEAKER_00]: So
• 4:07
  [SPEAKER_00]: Where does it go?
• 4:07
  [SPEAKER_00]: That's say 240 dollars goes into your four-month K at four percent, and you unplug or match.
• 4:14
  [SPEAKER_00]: It's going to match it, let's say.
• 4:16
  [SPEAKER_00]: All right, 480 dollars a month is already working for you.
• 4:20
  [SPEAKER_00]: Are you still paying off debt?
• 4:22
  [SPEAKER_00]: Once you remember that number, because we're going to come back to that, I will say I think it's the step, yes, step four.
• 4:28
  [SPEAKER_00]: Then 150 dollars a month for your health premium.
• 4:31
  [SPEAKER_00]: and for the year roughly $5,980 is in federal income tax.
• 4:35
  [SPEAKER_00]: So this is $5,370 and FICA, which is so security and Medicare, and about $1,950 that yearly income is in state tax.
• 4:40
  [SPEAKER_00]: Now, somebody just ran.
• 4:53
  [SPEAKER_00]: those numbers and said, my state tax is nothing and you're right.
• 4:58
  [SPEAKER_00]: If you're in Texas, if you're in Florida or if you eat like in my previous state, Tennessee, the line is zero.
• 5:05
  [SPEAKER_00]: But there's be honest in my home state, California, it is even bigger.
• 5:09
  [SPEAKER_00]: So use your numbers specifically, not mine numbers.
• 5:12
  [SPEAKER_00]: I'm just, I'm just giving a rough number based upon someone who sent their numbers and an ask me to review it on the show.
• 5:21
  [SPEAKER_00]: not saying any names.
• 5:23
  [SPEAKER_00]: I'm just breaking down what they sent me.
• 5:25
  [SPEAKER_00]: That's a matter of fact, if you want to send any numbers, go to anthonionew.com for slash the table.
• 5:31
  [SPEAKER_00]: You will learn more about what we do here at the table, but then if you want to come on the show, get some mentorship, get some counseling, share your testimony of getting out of debt.
• 5:40
  [SPEAKER_00]: Or if you want me to review your numbers and give me my honest thoughts, just go there for a lot of form.
• 5:44
  [SPEAKER_00]: We'll love to have you on the show.
• 5:45
  [SPEAKER_00]: All right, now this brings me to your assessment.
• 5:48
  [SPEAKER_00]: So we'll take about 10 seconds.
• 5:50
  [SPEAKER_00]: Do not use your offer letter.
• 5:53
  [SPEAKER_00]: Do not use the number you tell people at a cookout.
• 5:57
  [SPEAKER_00]: I need you to open up your in the black app or your banking app and pull your last two direct deposits and add them together.
• 6:06
  [SPEAKER_00]: That is your real number.
• 6:08
  [SPEAKER_00]: And it is the only income number that matters for the rest of this episode.
• 6:15
  [SPEAKER_00]: Your awful letters are promised, but you're direct.
• 6:17
  [SPEAKER_00]: The positive is the fat of what you're getting paid monthly.
• 6:22
  [SPEAKER_00]: Now watch how fast, two lines of that fact you've already spent.
• 6:30
  [SPEAKER_00]: This is where we got to test your two signatures.
• 6:34
  [SPEAKER_00]: See, most people audit from the bottom up.
• 6:37
  [SPEAKER_00]: They open it up, scroll the transactions, go hunting, the coffee, the Netflix or YouTube subscription, they forgot about, they find $60, and nothing changes.
• 6:55
  [SPEAKER_00]: I want you auditing specifically from the top down.
• 7:00
  [SPEAKER_00]: Because only two lines on that page are big enough to decide the other six, housing and transportation.
• 7:11
  [SPEAKER_00]: You sign a lease, you sign a car loan, both them and a chair, and somebody's office in about 20 minutes.
• 7:21
  [SPEAKER_00]: and those two pieces of paper will spend more of your money than any other decision you make for the next four to 30 years of your life.
• 7:33
  [SPEAKER_00]: Because we all know signature one, the housing, which is what we said, 1,350 a month, that is 30% of take home.
• 7:44
  [SPEAKER_00]: And 30% is not a number I made up.
• 7:47
  [SPEAKER_00]: When your housing costs pass 30% of your income, hood, and I believe it is the census bureau calls it cost burdened.
• 7:59
  [SPEAKER_00]: That is the Federal's measuring stick for how healthy are you financially?
• 8:06
  [SPEAKER_00]: Now, somebody watching this lives in a real city and just laughed at 13, 1,350 dollars because the median asking rent or a one-back room in this country is running in between, I say 1,500 and I will say 1,600 dollars right now.
• 8:25
  [SPEAKER_00]: I'm not going to pretend that the gap is not there, because depending on where you live,
• 8:31
  [SPEAKER_00]: I know someone paying $1,000 for a one-bedroom right now, but then I also know someone paying $2,000 dollars.
• 8:38
  [SPEAKER_00]: But first, the part that I believe a lot of people almost get wrong, 30% is not your rent target.
• 8:47
  [SPEAKER_00]: It is your total shelter target.
• 8:49
  [SPEAKER_00]: This is includes your rent, electricity, water, gas, rentous insurance, and internet all within one line.
• 8:57
  [SPEAKER_00]: So people compare on 1150 rent to their income, call it 26% and feel good while another $250 of utilities sits in a completely different mental category.
• 9:13
  [SPEAKER_00]: And it's go back to the 26%.
• 9:16
  [SPEAKER_00]: Now that 26% is 36% of your housing expenses, the whole time.
• 9:24
  [SPEAKER_00]: There's another economy that's stressful right now.
• 9:28
  [SPEAKER_00]: but there still is an important strategy.
• 9:32
  [SPEAKER_00]: If your number comes in over 30%, you have four doors I believe, and you're not gonna lie to somebody else.
• 9:40
  [SPEAKER_00]: I rule my for 18 months.
• 9:43
  [SPEAKER_00]: Maybe moving further out of where you wanna be, maybe a smaller unit, or maybe you'll get some extra income to come in.
• 9:53
  [SPEAKER_00]: four doors.
• 9:55
  [SPEAKER_00]: But now here is the uncomfortable thing I am going to say out loud.
• 10:00
  [SPEAKER_00]: A $72,000 a year by yourself and a high-cost living area alone is not a given.
• 10:11
  [SPEAKER_00]: It is a purchase.
• 10:13
  [SPEAKER_00]: And on this page it costs just about exactly what the debt pay off lying costs.
• 10:18
  [SPEAKER_00]: That does not mean do not buy it, that means no that you are buying it.
• 10:26
  [SPEAKER_00]: But before you invest a single dollar, build a business or chase any gold, there's one thing that has to be true first.
• 10:32
  [SPEAKER_00]: You have to be consumer debt free.
• 10:36
  [SPEAKER_00]: Most people try to build wealth before they even know where their money is actually going.
• 10:41
  [SPEAKER_00]: They have no budget, they have no plan, aka they have no strategy.
• 10:44
  [SPEAKER_00]: Just consumer debt, powering up in the background while life keeps moving forward.
• 10:50
  [SPEAKER_00]: That's why I built in the black, the app.
• 10:53
  [SPEAKER_00]: that gives you a daily money coach and your pocket.
• 10:56
  [SPEAKER_00]: It walks you through my five-phase escape plan.
• 10:59
  [SPEAKER_00]: It'll show you a zero-based budget and tells you exactly.
• 11:02
  [SPEAKER_00]: Watch this exactly what to do with your money, every single day.
• 11:07
  [SPEAKER_00]: Not every month, not every week, but every single day when you wake up.
• 11:10
  [SPEAKER_00]: You see, this isn't just theory.
• 11:12
  [SPEAKER_00]: It's the same process that has helped over a hundred thousand families get out of debt.
• 11:16
  [SPEAKER_00]: Real people, like yourself, are paying off thousands of dollars using this app.
• 11:21
  [SPEAKER_00]: One got it, step at a time.
• 11:24
  [SPEAKER_00]: All you guys do is go to anthonyoneau.com 4-app right now.
• 11:27
  [SPEAKER_00]: Take the two minute quiz and please be honest and get your personalized plan.
• 11:32
  [SPEAKER_00]: Fix your foundation first.
• 11:33
  [SPEAKER_00]: Then go build whatever's next.
• 11:35
  [SPEAKER_00]: Go to anthonyoneau.com 4-app.
• 11:38
  [SPEAKER_00]: And uh, let's get back to today's show.
• 11:42
  [SPEAKER_00]: Signature 2, Transportation.
• 11:45
  [SPEAKER_00]: You see, Transportation is $450 a month, gas, insurance, and maintenance.
• 11:53
  [SPEAKER_00]: Look hard at what is missing, what did I just say that is not in there.
• 11:58
  [SPEAKER_00]: There's no car payment on this page.
• 12:01
  [SPEAKER_00]: And that line only works at $450 because the car is paid for.
• 12:07
  [SPEAKER_00]: So here is the rest of what the country is doing.
• 12:10
  [SPEAKER_00]: It's the accordion to experience in the second quarter of this year, 2022.
• 12:15
  [SPEAKER_00]: The average monthly car payment on use cars in America was $542.
• 12:21
  [SPEAKER_00]: On a brand new car, we're looking at almost $800.
• 12:26
  [SPEAKER_00]: And the average use car loan runs about 67 months at 11.19% interest rate.
• 12:34
  [SPEAKER_00]: So $50,000 on a $4,500 take home, that is another 12% of everything you bring home going to one vehicle.
• 12:42
  [SPEAKER_00]: So let me put this on a screen for you.
• 12:45
  [SPEAKER_00]: You see, transportation goes from $450 to $992.
• 12:47
  [SPEAKER_00]: And our two signatures, which we're sitting at exactly 40% of take home, just jumped to what 52%.
• 12:50
  [SPEAKER_00]: On two signatures.
• 13:05
  [SPEAKER_00]: But the percentage is not the part that she gets your attention.
• 13:10
  [SPEAKER_00]: Where the $502 or $402 car payment is going to come from.
• 13:16
  [SPEAKER_00]: Because remember, we've already spent every dime.
• 13:25
  [SPEAKER_00]: It takes your savings line, all 225, it takes your sinking fund line, all 225, and it's still $92 short, so it reaches into your dead payoff and takes that too.
• 13:45
  [SPEAKER_00]: Notice what it left alone.
• 13:56
  [SPEAKER_00]: but it took your emergency fund.
• 14:00
  [SPEAKER_00]: It just took your Christmas money, your kids money, your car repair money.
• 14:06
  [SPEAKER_00]: It took you away from paying off your debt.
• 14:09
  [SPEAKER_00]: $542 out of $750 debt line, which is 72% of everything you had to get free.
• 14:22
  [SPEAKER_00]: So I need you to write this down.
• 14:24
  [SPEAKER_00]: Paul's this video and write this down.
• 14:27
  [SPEAKER_00]: A car payment is not paid for out of your month.
• 14:31
  [SPEAKER_00]: It's paid for out of your future.
• 14:38
  [SPEAKER_00]: And over 67 months, at $542, that's going to be roughly $36,800 dollars for one vehicle out of your future.
• 14:52
  [SPEAKER_00]: How I know, let me tell you how I know this.
• 14:57
  [SPEAKER_00]: Because I'm not standing here and never have having done it myself.
• 15:03
  [SPEAKER_00]: At 24 years old, my 24 was at 24.
• 15:07
  [SPEAKER_00]: I think it was right around here.
• 15:10
  [SPEAKER_00]: Yeah, it was 24.
• 15:12
  [SPEAKER_00]: I was working at it.
• 15:12
  [SPEAKER_00]: Deacon Jones, Nissan, and Greensboro, no Goldsboro, North Carolina.
• 15:19
  [SPEAKER_00]: I purchased a brand new Nissan Maximus, a new body style.
• 15:23
  [SPEAKER_00]: Everyone was loving them.
• 15:24
  [SPEAKER_00]: So first car, I ever bought completely on my own, and I was so proud of it.
• 15:29
  [SPEAKER_00]: Man, I was making some good money selling cars.
• 15:32
  [SPEAKER_00]: The paycheck, watch this, said I could afford the payment so I signed.
• 15:40
  [SPEAKER_00]: Here is what makes that one hard to tell you.
• 15:44
  [SPEAKER_00]: A few years before that, I was homeless and Southern California sleeping in the 1987 version of that car, the Nissan Maximum.
• 15:53
  [SPEAKER_00]: Our sister is the same badge, a few years apart, and I was stuck both times.
• 16:02
  [SPEAKER_00]: Sleeping in one, now I've got a crazy car in the other one.
• 16:07
  [SPEAKER_00]: The car got newer, but the plan strategy never showed up.
• 16:15
  [SPEAKER_00]: that I was not the responsible one in that story.
• 16:20
  [SPEAKER_00]: I was doing the same thing that everybody around me was doing, but in a slightly nicer package.
• 16:30
  [SPEAKER_00]: So let me be clear where I stand one time on today's episode.
• 16:40
  [SPEAKER_00]: I'm not for financing the car.
• 16:46
  [SPEAKER_00]: what I teach is purchase a paid for use car and work your way up.
• 16:52
  [SPEAKER_00]: Go from a $2,000 car to a $4,000 car to a $10,000 car to a $25,000 car and that's got to elevate your income you elevate your ladder.
• 17:09
  [SPEAKER_00]: And that's not easy to say because trust me do I wish some time I can just go out there and just find answer car I'm not going to lie to you I do I do but then sometimes not sometimes all the times I snap my brain into a library and work because it feels good to know that I drive cars
• 17:35
  [SPEAKER_00]: that if life happened, I'll have two things.
• 17:39
  [SPEAKER_00]: I can go sell my cars and get a couple of six figures for them, or I'll be the dopest looking, broke man driving.
• 17:47
  [SPEAKER_00]: I'll probably be the latter though.
• 17:49
  [SPEAKER_00]: I'll probably do the first thing.
• 17:51
  [SPEAKER_00]: Listen.
• 17:54
  [SPEAKER_00]: Those two signatures matter.
• 17:59
  [SPEAKER_00]: And matters.
• 18:09
  [SPEAKER_00]: How many mistakes have we made with those two signatures?
• 18:13
  [SPEAKER_00]: If I'm being honest, I should not have built my first house.
• 18:16
  [SPEAKER_00]: I should have bling out a condor or a town hall.
• 18:23
  [SPEAKER_00]: Even when I think about when I bought my first luxury car, I should not have bought that.
• 18:29
  [SPEAKER_00]: I shouldn't have bought that car.
• 18:30
  [SPEAKER_00]: Then I should have waited a little bit longer and had a little bit more cushioned, had a little bit more investments.
• 18:40
  [SPEAKER_00]: but we all made mistakes upon entry.
• 18:43
  [SPEAKER_00]: We all can improve.
• 18:45
  [SPEAKER_00]: And I want to be honest, that the money man made some mistakes.
• 18:51
  [SPEAKER_00]: Now, if your two numbers came in over that gate, and you want me to look at it, again, go to Anthony O'Neill, forward slash, the table, and fill out a form.
• 19:05
  [SPEAKER_00]: That is, anthinonio.com, four slash, that table will be bringing people on to show it and not really auditing, but having real conversations about where they are in their journey.
• 19:16
  [SPEAKER_00]: I'm going to show people who are on this journey in real time and how they're paying off that.
• 19:20
  [SPEAKER_00]: What are some of the creative ways you may be using your spouse or paying off the debt?
• 19:25
  [SPEAKER_00]: What are some of the creative ways you're getting your children involved in this journey?
• 19:30
  [SPEAKER_00]: And it really comes out here and just really help the freedom circle community.
• 19:34
  [SPEAKER_00]: So again, go to www.anthinoleneu.com for slash the table or just go to www.anthinoleneu.com, click on the table and you'll see the information there.
• 19:42
  [SPEAKER_00]: We'll love to have you on the show.
• 19:43
  [SPEAKER_00]: All right.
• 19:45
  [SPEAKER_00]: Here is step three.
• 19:47
  [SPEAKER_00]: You got to put every dollar.
• 19:49
  [SPEAKER_00]: on paper.
• 19:50
  [SPEAKER_00]: Specifically, for today's episode, I want to say inside the end of black budgeting app, especially going to 2021.
• 19:56
  [SPEAKER_00]: You can go to anthonyoneau.com forward slash app.
• 20:00
  [SPEAKER_00]: All right, because we see what just happened in step two, two lines, the side of the other six.
• 20:05
  [SPEAKER_00]: That is why I had you audit from the top down, because now the rest of the page is honestly going to get a little bit easier.
• 20:13
  [SPEAKER_00]: because we went after the two most expensive things to average person buyers.
• 20:18
  [SPEAKER_00]: So $4,500 comes in, $4,500 gets assigned.
• 20:23
  [SPEAKER_00]: And at the end of that, it should equal zero.
• 20:26
  [SPEAKER_00]: That is what a budget is.
• 20:27
  [SPEAKER_00]: A budget gives your money direction.
• 20:29
  [SPEAKER_00]: It doesn't give you a prison.
• 20:31
  [SPEAKER_00]: It is you telling your money where to go before somebody else does or before it does.
• 20:38
  [SPEAKER_00]: And the last thing you want is somebody else and your money telling you what to do with it.
• 20:44
  [SPEAKER_00]: So let's talk about it.
• 20:45
  [SPEAKER_00]: Food is 500 and saying five hours.
• 20:48
  [SPEAKER_00]: $425 for groceries.
• 20:49
  [SPEAKER_00]: Unless it's give you a eating out budget at $150 on purpose.
• 20:54
  [SPEAKER_00]: I want that second number in there because the food line with no restaurant money and it is a lie, you will break by the tenth of the month, this beyond us.
• 21:03
  [SPEAKER_00]: Now, personal is going to be right around $325.
• 21:05
  [SPEAKER_00]: And that covers your cell phone bill, your subscriptions, your grooming, and your clothes.
• 21:11
  [SPEAKER_00]: I know that's not a lot of money.
• 21:12
  [SPEAKER_00]: You're like $325 for clothes.
• 21:14
  [SPEAKER_00]: I'm a spin that on a sweater.
• 21:20
  [SPEAKER_00]: Not right now, because now I want you to add those two things together, that's $900 a month.
• 21:26
  [SPEAKER_00]: Our two signatures were at $1,800 a month, so everything the internet has been telling you, groceries, the takeout, the subscriptions that the hair cut just got miles today,
• 21:54
  [SPEAKER_00]: That is why bottom-up auditing does not work.
• 21:59
  [SPEAKER_00]: You're not lazy, and you're not undisciplined, you have been auditing the smallest, controllable, comfortable money on the page first.
• 22:10
  [SPEAKER_00]: Then there is a $225 to say for the sinking funds.
• 22:14
  [SPEAKER_00]: And this is the line I'll almost never see on somebody's budget.
• 22:18
  [SPEAKER_00]: A sinking fund.
• 22:21
  [SPEAKER_00]: This is the money that you set aside every month for a bill you already know is coming, anniversaries, Christmas, new tires, maybe got breaks, old change, maybe you want to buy your lady something or you may have something or your kids something, the registration that has every money, right?
• 22:38
  [SPEAKER_00]: These are what people say, oh, this came up quickly, no, no, no, you were prepared for it.
• 22:45
  [SPEAKER_00]: Here is what the 225 of the buys you.
• 22:48
  [SPEAKER_00]: It turns a $900 car repair from a credit card and into a Tuesday that we just don't want to spend.
• 22:56
  [SPEAKER_00]: It's no long and emergency.
• 22:58
  [SPEAKER_00]: It's just like, hey, it's an inconvenience.
• 23:00
  [SPEAKER_00]: I got to spend this money that I've been setting aside now for this.
• 23:07
  [SPEAKER_00]: Maybe one day I will share to you a major inconvenience that came up that shook my world.
• 23:18
  [SPEAKER_00]: I'm praying on how I'm going to share this, I'm praying on if I should even share this.
• 23:29
  [SPEAKER_00]: But the whole strategy is, going into 2021, may get prepared for birthdays, holidays,
• 23:43
  [SPEAKER_00]: Let's get away from scrambling.
• 23:44
  [SPEAKER_00]: Let's get away from putting things on a credit card and let's just go into the season prepared.
• 23:50
  [SPEAKER_00]: And the first line on the page, I gotta say this is giving a $600, which is 10% of your gross pay.
• 23:59
  [SPEAKER_00]: I was saying it's one time.
• 24:01
  [SPEAKER_00]: Money is a tool for stewardship.
• 24:03
  [SPEAKER_00]: And the first thing I do with mine is give some of it away.
• 24:08
  [SPEAKER_00]: That order has mattered in every season of my financial life.
• 24:14
  [SPEAKER_00]: Including ones where the number was a lot smaller than $600.
• 24:20
  [SPEAKER_00]: If you're not there yet, stay with me because the other seven lines are still working.
• 24:30
  [SPEAKER_00]: Eight lines, $4,500.
• 24:31
  [SPEAKER_00]: In.
• 24:34
  [SPEAKER_00]: 4,000, 5,000, I was going out and the page should be zero here now.
• 24:47
  [SPEAKER_00]: Step 4 is we got to run the order, I would say, specifically
• 24:53
  [SPEAKER_00]: in order.
• 24:54
  [SPEAKER_00]: I just repeat it myself, but I did it intentionally because the truth is most people look at a page like this and do every single thing on it at the same time a little bit not wise, a little savings, a little debt, a little investing, a whole lot of guilt.
• 25:12
  [SPEAKER_00]: Three years later, nothing has moved because spreading $1,200 across four goals is how you make slow progress on all four at once.
• 25:24
  [SPEAKER_00]: There is a specific order that I talk about this inside of my brand new book, stop living page at the page, like if you haven't gotten your copy yet, go get it, because it really breaks all this down into about 300 pages, and it walks you through the process in the system.
• 25:37
  [SPEAKER_00]: But the very first step is your starter fund.
• 25:39
  [SPEAKER_00]: At one month of your net pay, you all know this.
• 25:42
  [SPEAKER_00]: I was going to, I'm always going to say this.
• 25:43
  [SPEAKER_00]: I'm going to preach it to the choir.
• 25:45
  [SPEAKER_00]: That's part of the high-year old savings.
• 25:47
  [SPEAKER_00]: on this page, this is $4,500, not a flat $1,000.
• 25:52
  [SPEAKER_00]: One month of your actual lands, with a one month of what actually lands inside of your bank account, that gets put inside of Ohio savings, that is your buffer, right?
• 26:02
  [SPEAKER_00]: This is so, if life happens, you've got one month, you've got 30 days to thank to process and to make a healthy decision.
• 26:09
  [SPEAKER_00]: Number two, right, and best up to 100% of your employer's match, not a dollar more.
• 26:16
  [SPEAKER_00]: And you do this the whole time you're still paying off your consumer debt.
• 26:19
  [SPEAKER_00]: So remember that $480 from step one, with 240 of yours, right, 240 of your employer's.
• 26:28
  [SPEAKER_00]: That matches guaranteed compensation.
• 26:30
  [SPEAKER_00]: You employ your already great to pay you that was a part of your salary.
• 26:35
  [SPEAKER_00]: So get this money.
• 26:36
  [SPEAKER_00]: Do not walk away from it.
• 26:37
  [SPEAKER_00]: I apologize for not agreeing to this years ago, but I'm here today.
• 26:42
  [SPEAKER_00]: That's what I believe.
• 26:44
  [SPEAKER_00]: This is extra money that they're not paying you on a weekly basis on a bi-weekly basis or a monthly basis.
• 26:51
  [SPEAKER_00]: And I think a lot of employers, some wet don't want you to take advantage of it, but go get that money.
• 26:57
  [SPEAKER_00]: Then after you get that money, why are you getting that money?
• 27:00
  [SPEAKER_00]: You're paying off your consumer debt.
• 27:02
  [SPEAKER_00]: I'm not gonna live there because you already know my brand, get the book, stop living paycheck to paycheck.
• 27:06
  [SPEAKER_00]: All right, you gotta start paying off your consumer debt.
• 27:12
  [SPEAKER_00]: on this particular audit, their debt line was $750.
• 27:17
  [SPEAKER_00]: Say you're carrying $12,000, divide that by $750, that's 16 months, 16 months, and you're done.
• 27:24
  [SPEAKER_00]: It was now leaves us over to number four, which is your freedom exit number.
• 27:29
  [SPEAKER_00]: Now we go from $4,500 to now we put six months inside of that, three months of that is $13,500.
• 27:39
  [SPEAKER_00]: Now the debt is gone, now we're building up our emergency fund.
• 27:44
  [SPEAKER_00]: Now, after we get our emergency fund, now this is when we start to invest even more.
• 27:51
  [SPEAKER_00]: This is the most important thing when it comes to this.
• 27:57
  [SPEAKER_00]: Because we're investing for our future self.
• 27:59
  [SPEAKER_00]: This will be 12 to 15% of your growths income towards wealth.
• 28:03
  [SPEAKER_00]: Now let's say, hey Anthony, I'm not going to invest my growth.
• 28:06
  [SPEAKER_00]: Okay, cool.
• 28:08
  [SPEAKER_00]: Don't invest, not on our own, invest from your growth.
• 28:11
  [SPEAKER_00]: I want to go back to the tide, because I just brought this up to memory.
• 28:15
  [SPEAKER_00]: They say, if you don't tide off of gross, you tithe only off of net.
• 28:19
  [SPEAKER_00]: I'm okay with it, right?
• 28:20
  [SPEAKER_00]: If you get a tax refund, you tithe off of that.
• 28:25
  [SPEAKER_00]: Don't be like, I already tied off of this.
• 28:26
  [SPEAKER_00]: No, no, no, no, no.
• 28:27
  [SPEAKER_00]: If you tied the net, you did not tie the tax refund.
• 28:32
  [SPEAKER_00]: So you gotta go back and tithe off of that, but make sure that you're building an investing tin
• 28:44
  [SPEAKER_00]: Listen, simple math.
• 28:47
  [SPEAKER_00]: I have a guy right now who's making right around 70 to 75,000 dollars a year who's been making that about the last 15 years and his net worth is right around 1.3 million dollars from a paycheck that felt like it was not working.
• 29:05
  [SPEAKER_00]: That is the whole point of the audit.
• 29:09
  [SPEAKER_00]: Let me be honest with you.
• 29:10
  [SPEAKER_00]: Man, I'm seeing the social media say, oh, you need to make 150,000 dollars who will be comfortable in the world.
• 29:15
  [SPEAKER_00]: Maybe so in certain areas, but I think the whole strategy is, how do we audit our finances and look at what we're doing and how do we get better at what we're doing so that we can make better decisions for tomorrow?
• 29:28
  [SPEAKER_00]: Yes, should we all be striving to make more?
• 29:31
  [SPEAKER_00]: Yes, but why are we getting there?
• 29:35
  [SPEAKER_00]: What are we doing?
• 29:36
  [SPEAKER_00]: What we have now?
• 29:39
  [SPEAKER_00]: That is the whole point of this audit.
• 29:44
  [SPEAKER_00]: I told my team just the other day that I will be moving away from interviewing a lot of other people.
• 29:49
  [SPEAKER_00]: I want to interview more of you all.
• 29:51
  [SPEAKER_00]: I want to bring in natural average everyday people who are fighting, who are ready to change their life, who want to do something and see something different.
• 30:05
  [SPEAKER_00]: And I want to invite you.
• 30:10
  [SPEAKER_00]: So if you want to be a part of this, I want you to come on to the table.
• 30:16
  [SPEAKER_00]: Twenty-two-seven, we're going to be interviewing people, interviewing couples, and I want to interview some people.
• 30:23
  [SPEAKER_00]: I even want to interview a young lady who maybe just went through a divorce, a young man who went through a divorce, and how are they bouncing back?
• 30:30
  [SPEAKER_00]: How can they help you bounce back?
• 30:32
  [SPEAKER_00]: How can this community rally around divorcees and help them and encourage them to get there?
• 30:39
  [SPEAKER_00]: We're going to do this thing together, man.
• 30:42
  [SPEAKER_00]: Let me know in the comments below if you enjoyed today's conversation about artists.
• 30:47
  [SPEAKER_00]: If you have, if you don't want to come on the show and like, hey, Anthony, I don't make 75,000.
• 30:51
  [SPEAKER_00]: I make 55,000.
• 30:52
  [SPEAKER_00]: Can you audit this without saying my name and personal information?
• 30:55
  [SPEAKER_00]: Sure thing.
• 30:56
  [SPEAKER_00]: I'd love to.
• 30:58
  [SPEAKER_00]: But 20-27 is one of the different for this community map.
• 31:01
  [SPEAKER_00]: I have something amazing that's about to pop off.
• 31:03
  [SPEAKER_00]: I can't share just yet, but hopefully I can share before the end of November.
• 31:08
  [SPEAKER_00]: All right, just boy Anthony O'Neill.
• 31:10
  [SPEAKER_00]: Thank you for pulling up your seat at the table today on this episode and we'll see you in our next show.
• 31:16
  [SPEAKER_00]: Hope you see, we'll be back, peace out.