Latest / The Table with Anthony ONeal / Stop Maxing Out Your 401k! This Builds Wealth 3x Faster (GUARANTEED)

Transcript

Stop Maxing Out Your 401k! This Builds Wealth 3x Faster (GUARANTEED) · The Table with Anthony ONeal

0:00
[SPEAKER_00]: What if I told you that the 401k is not your only yet alone that safest retirement route when it comes to building wealth?
0:07
[SPEAKER_00]: In fact, it might be quietly stilling, I would say your retirement right from underneath your shoes.
0:16
[SPEAKER_00]: Let's take a look at this.
0:17
[SPEAKER_00]: According to a recent study by Swab, Charles Swab, 57% of 401k investors are not confident that they'll be able to retire 100% comfortably.
0:29
[SPEAKER_00]: Not a question that we have to ask is why?
0:32
[SPEAKER_00]: Well, because workers expect to retire at the age of 66, and believe they'll need about $1.6 million save to live comfortably in their retirement years.
0:43
[SPEAKER_00]: And here's the truth, studies are showing us that this, unfortunately, is not happening.
0:50
[SPEAKER_00]: You see, the average 401k balance for somebody aged 55 to 64, is just right around $272,000.
0:59
[SPEAKER_00]: And for somebody, over the ages of 65, the average 401k balance is right under $300,000.
1:07
[SPEAKER_00]: But the median balance is where it even gets worse.
1:12
[SPEAKER_00]: Did you know that the median balance, the median 401k balance for somebody ages 55 to about 64, is only right around $87,000.
1:22
[SPEAKER_00]: And for somebody over the age of 65, it's just right around
1:29
[SPEAKER_00]: Listen, from millions of Americans, our 401k is not going to be enough to retire and to really have wealth at the years of our retirement years and age.
1:46
[SPEAKER_00]: So today I'm going to help you flip that 401k trap and turn it into, I will say, a wealth building machine.
1:55
[SPEAKER_00]: Today's show, we're going to be covering the mindset, and I will say the math and the moves you need to actually retire.
2:03
[SPEAKER_00]: When I say this, I mean this 100% wealthy.
2:07
[SPEAKER_00]: So I need you to stick with me to the end because I'm going to be giving you our turn to vehicles that millionaires, net worth millionaires are using to build real wealth for a long-term perspective.
2:20
[SPEAKER_00]: So I want to get directly into it and I want to start by zooming all the way out because this is you and you want to get here.
2:30
[SPEAKER_00]: What is here, Anthony?
2:32
[SPEAKER_00]: You want to retire.
2:33
[SPEAKER_00]: You want financial freedom and you want wealth.
2:36
[SPEAKER_00]: If you don't want those three things, click off of this now and just go watch something else.
2:41
[SPEAKER_00]: Because there is a way that you can get there, but it's going to require several vehicles.
2:48
[SPEAKER_00]: not just one.
2:50
[SPEAKER_00]: You see, a lot of people are assuming that they only need a retirement pension plan or a 401k plan, that's it.
2:59
[SPEAKER_00]: But the truth of the fact is, your 401k is one investment vehicle and a lot of people are driving around in a Toyota Camry when you could turn that into a Lamborghini Euras just by understanding how to use this vehicle even better.
3:17
[SPEAKER_00]: one of the biggest mistakes people make is they just start driving without knowing where they're actually going.
3:28
[SPEAKER_00]: They don't have an actual destination.
3:32
[SPEAKER_00]: So I want us to start with the end in mind.
3:36
[SPEAKER_00]: I want us to start with the plan for our 105-year-old self.
3:42
[SPEAKER_00]: I want 110-year-old self.
3:44
[SPEAKER_00]: Yes, I'm speaking that into existence for us.
3:46
[SPEAKER_00]: I don't want us dying at 66 at 70 years old.
3:50
[SPEAKER_00]: because I want to ask ourselves, what is to go?
3:53
[SPEAKER_00]: What do those years at 80, 90 euros ourselves look like?
4:00
[SPEAKER_00]: Because there's two crucial parts to this.
4:04
[SPEAKER_00]: Two, one, of course, the financial part.
4:08
[SPEAKER_00]: How much money do you actually need?
4:12
[SPEAKER_00]: How much money will your 80-year-old
4:19
[SPEAKER_00]: what do you actually want to do?
4:21
[SPEAKER_00]: What's your time?
4:23
[SPEAKER_00]: And so I want to start with how much money you will actually need?
4:29
[SPEAKER_00]: Like how much money would you actually need?
4:33
[SPEAKER_00]: Now the traditional rule.
4:36
[SPEAKER_00]: that a lot of financial advisors are teaching is to 4% room.
4:39
[SPEAKER_00]: I say, there's nothing wrong with it.
4:40
[SPEAKER_00]: I'm asking them to come up with my own room eventually.
4:42
[SPEAKER_00]: But I like this 4% room.
4:44
[SPEAKER_00]: This means, technically that means you're going to need about $1.5 million to be able to retire 100% comfortable.
4:54
[SPEAKER_00]: The idea being that you'll be able to pool 4% out, that's about $60,000 a year and adjusted for inflation every single year.
5:05
[SPEAKER_00]: And you should have enough money until you die.
5:09
[SPEAKER_00]: That's the 4% rule.
5:11
[SPEAKER_00]: Now, the other part, what happens if you hit this number, let's say tomorrow?
5:18
[SPEAKER_00]: Let's say you hit $1.5 million tomorrow.
5:22
[SPEAKER_00]: What are you gonna do with it?
5:25
[SPEAKER_00]: What does it go?
5:26
[SPEAKER_00]: What does he drink?
5:27
[SPEAKER_00]: You might say, I'm gonna travel the world.
5:31
[SPEAKER_00]: Okay, you do that for six months.
5:33
[SPEAKER_00]: You do that for a year.
5:35
[SPEAKER_00]: Then what?
5:37
[SPEAKER_00]: There's a saying that I saw recently, those who retire early, die early.
5:42
[SPEAKER_00]: Because what a lot of people do is they work a job, they hate for 30 years, for 40 years, then they quit.
5:51
[SPEAKER_00]: And now you have nothing to do at all.
5:54
[SPEAKER_00]: So you go to the sofa, turn on the TV, and you sit there all day and night, and then you just let your brain just rot, let your muscles just get 100% comfortable.
6:08
[SPEAKER_00]: So I wanted to start thinking about this 100% right now.
6:15
[SPEAKER_00]: You know, I'm extremely grateful because I'm watching my father in his retirement years.
6:20
[SPEAKER_00]: He has not worked a job.
6:22
[SPEAKER_00]: I want to say in about four years.
6:24
[SPEAKER_00]: And I was concerned for my father's health.
6:28
[SPEAKER_00]: I asked my dad to say in questions, to say in two questions, how much he hit that number.
6:34
[SPEAKER_00]: Second thing is that what are you going to do with your time?
6:38
[SPEAKER_00]: I still need you active.
6:40
[SPEAKER_00]: My dad chilled out and played golf for about six months.
6:44
[SPEAKER_00]: Then after that, me and him were talking, and this thing I know, my dad is a chaplain at the hospital.
6:51
[SPEAKER_00]: My dad gets joy going into the hospitals and praying for families who their family member may be transitioning to be with the Lord or praying with families who are having real bad medical procedures.
7:06
[SPEAKER_00]: Like he goes in and he brings encouragement and love and hope and prayer.
7:12
[SPEAKER_00]: of the people doing horror times.
7:15
[SPEAKER_00]: My dad does it at night time.
7:16
[SPEAKER_00]: He'll get called in the evening time and I love it because my dad is not just sitting around.
7:21
[SPEAKER_00]: So he'll play golf about the day.
7:23
[SPEAKER_00]: Sometimes I go home and play golf with my pops.
7:25
[SPEAKER_00]: And sometimes my dad will come up here and play golf with me.
7:28
[SPEAKER_00]: But he's doing something with his time.
7:34
[SPEAKER_00]: So I need you to think about this literally right now.
7:37
[SPEAKER_00]: Write it down.
7:37
[SPEAKER_00]: I don't care if you're 30, 40, 50 years old.
7:40
[SPEAKER_00]: What would you do if you had the money sooner rather than later?
7:43
[SPEAKER_00]: And what would you do with your time?
7:46
[SPEAKER_00]: That way, you can start building.
7:48
[SPEAKER_00]: I would say your dream life now.
7:51
[SPEAKER_00]: And when you have the money, you can fund that dream life.
7:57
[SPEAKER_00]: That's important for us to know.
8:00
[SPEAKER_00]: Okay?
8:01
[SPEAKER_00]: So now you've set the goal.
8:04
[SPEAKER_00]: You know where you need to go.
8:09
[SPEAKER_00]: Now the question is, how do we actually get there?
8:12
[SPEAKER_00]: You see for most people, there are only two vehicles.
8:17
[SPEAKER_00]: Number one, is there 401k.
8:20
[SPEAKER_00]: Number two is your mortgage, your house.
8:23
[SPEAKER_00]: You buy a house, you pay it off.
8:26
[SPEAKER_00]: And now you have this house free and clear, plus your 401k.
8:29
[SPEAKER_00]: The problem is that this traditional path, unfortunately, is failing somewhere because it's not giving you enough to really have the lifestyle that you said you just wanted.
8:41
[SPEAKER_00]: We are seeing the biggest retirement crisis in America history, because these vehicles are not getting people to where they need to be.
8:51
[SPEAKER_00]: Let me show you the math here.
8:54
[SPEAKER_00]: Let's say you work a job making $60,000 a year and your company offers 100,000 a 100% match on your four-way contributions up to the say 4% of your income.
9:08
[SPEAKER_00]: So you invest 4% of your salary.
9:10
[SPEAKER_00]: 4% of $60,000 a year is $2400 that you invest.
9:16
[SPEAKER_00]: Your company doubles that giving you an additional $2400 a year.
9:21
[SPEAKER_00]: So you're investing effectively $4,800 a year.
9:27
[SPEAKER_00]: This is what many people call free money.
9:30
[SPEAKER_00]: Well, let's do the math here.
9:32
[SPEAKER_00]: The average 401k account grows by 5% to 8% a year.
9:37
[SPEAKER_00]: I'm going to be generous in the sum.
9:39
[SPEAKER_00]: You started investing when you were 25 years old, and you did it for 40 years until you were 65 years old.
9:47
[SPEAKER_00]: If you got the higher end of the return 8% a year, your money would have grown to 1.25 million dollars, but if your returns are not as good and you only got a 5% return, your money only grew to $580,000, which is still better than zero.
10:06
[SPEAKER_00]: So here me clearly, I am not saying do not invest into a 401k.
10:12
[SPEAKER_00]: Now you can start to see the problem.
10:14
[SPEAKER_00]: Okay.
10:15
[SPEAKER_00]: What is that?
10:16
[SPEAKER_00]: If you got the higher end of returns, the 1.25 million, you're still short of what you may need, which is the 1.5 million dollars.
10:27
[SPEAKER_00]: But there's one bigger problem that a lot of people are overlooking.
10:31
[SPEAKER_00]: This is also taxed if you're doing it through a traditional 401k, because if you put all of that money in, that money was not taxed when it went in, that money grew, not tax free, okay?
10:50
[SPEAKER_00]: If you put in a traditional account, when you go to take it out, you got to pay taxes on it.
10:56
[SPEAKER_00]: you have to.
10:58
[SPEAKER_00]: This is how traditional 401k works.
11:01
[SPEAKER_00]: So you got 1.25 million I was in here, but when you pull this money out, you have to pay taxes on it.
11:08
[SPEAKER_00]: Have to, which means you are left with even less money, which leaves you further away from your goal.
11:16
[SPEAKER_00]: But then you tell yourself, well, wasn't I making monthly mortgage payments?
11:21
[SPEAKER_00]: Isn't that building equity in my house?
11:27
[SPEAKER_00]: I mean, we could say so, yeah, for sure, kind of, yeah.
11:31
[SPEAKER_00]: Except banks follow what's called an amortation schedule, right?
11:36
[SPEAKER_00]: Which means they front load your mortgage.
11:40
[SPEAKER_00]: So if you're paying, let's say, $1800 a month, because you find that it's $300,000, $300,000 in your home, most of your $1800 payment is going to interest for the first number of years.
11:53
[SPEAKER_00]: That's breakdown of math.
11:54
[SPEAKER_00]: I want to show you to you.
11:56
[SPEAKER_00]: If you got a $300,000 alone, let's say at 6% interest rate, at the time of 2025, that's $1800 a month.
12:05
[SPEAKER_00]: Your paying is going primarily to the bankers pocket, which is the interest.
12:10
[SPEAKER_00]: It's not going towards the principal in the first few years.
12:13
[SPEAKER_00]: is not until right around year 19 to 30 year mark where you start seeing half of your monthly payment is going towards the principle of your mortgage aka your house.
12:26
[SPEAKER_00]: So your bankers getting rich off of your mortgage payment upfront while you're thinking that you're building well.
12:36
[SPEAKER_00]: Now, I'm not saying it's bad for you to own a home, but here's what I'm saying.
12:40
[SPEAKER_00]: You gotta know the game.
12:42
[SPEAKER_00]: You have to know how the system is working.
12:44
[SPEAKER_00]: So we don't really see equity built within the first few years, unless we have a crazy equity season with our homes that's just going up in value, right?
12:54
[SPEAKER_00]: But if your goal is to get financial freedom, you need to understand how to accelerate these vehicles.
13:02
[SPEAKER_00]: So what I want you to do right now is if you're watching this on a replay, I want you to pause the video right now and go check your 401k expense ratios.
13:11
[SPEAKER_00]: You need to know what you're paying because I small 1% annual fee can cost you 25% to 28% of your total investment value.
13:21
[SPEAKER_00]: So if you thought you're going to have a million dollars after 1% fee, you're going to
13:32
[SPEAKER_00]: By the way, yes, if you have a 401k, you are paying fees.
13:36
[SPEAKER_00]: It's called an expense ratio.
13:40
[SPEAKER_00]: Now, before we dive into our turn of investment vehicles, that can actually get you to retirement faster, I want to talk about something that could help bridge the retirement gap we just discussed.
13:54
[SPEAKER_00]: You know how we just talked about, I would say needing consistent, reliable income when it comes to our retirement?
14:03
[SPEAKER_00]: Well, that's exactly where today's sponsor comes in.
14:05
[SPEAKER_00]: And this is actually something I think makes a lot of sense for a portion.
14:10
[SPEAKER_00]: of your retirement strategy, and that's the newities.
14:13
[SPEAKER_00]: All right, now I know what you're thinking.
14:16
[SPEAKER_00]: Jasper it, aren't those complicated?
14:18
[SPEAKER_00]: But hear me up, hear me up, hear me up, hear me up.
14:20
[SPEAKER_00]: Because the last gate has changed dramatically.
14:22
[SPEAKER_00]: Companies like Gamebridge are now offering something called fast break, and this is pretty interesting.
14:28
[SPEAKER_00]: It's a non-tax deferred annuity that's currently beating most CDs with race up to 5.6% fixed APY.
14:36
[SPEAKER_00]: Here's what caught my attention.
14:37
[SPEAKER_00]: Number one, no commission, no hidden fees, no charges, which if you remember what I just said about 401k fees, eating away at 25 to 28% of your returns, this is massive.
14:48
[SPEAKER_00]: Number two, you can start with this little as 1,000 dollars.
14:52
[SPEAKER_00]: So, you don't need to be wealthy to get started.
14:54
[SPEAKER_00]: Which leads me to number three, they have to read to tin your term's available.
14:58
[SPEAKER_00]: So you can choose what fits your actual timeline.
15:01
[SPEAKER_00]: And here's the kicker.
15:02
[SPEAKER_00]: You can live draw of the 10% annually, 100% penalty fee.
15:07
[SPEAKER_00]: So your money isn't completely locked away.
15:10
[SPEAKER_00]: Plus, Game Bridge has an A-s excellent financial strength rating from Am Best.
15:15
[SPEAKER_00]: So you're not working with someone who is just crazy out there.
15:18
[SPEAKER_00]: They are a solid company and a credible company.
15:21
[SPEAKER_00]: All you have to do is go to anthonyl.com forward slash annuities as again anthonyl.com forward slash annuities.
15:30
[SPEAKER_00]: Now, I am not saying put all your money into annuities.
15:33
[SPEAKER_00]: I'm not.
15:33
[SPEAKER_00]: Remember, we're talking about building multiple vehicles to get you to retirement.
15:38
[SPEAKER_00]: But for your specific portfolio, I want you to have.
15:42
[SPEAKER_00]: several vehicles.
15:44
[SPEAKER_00]: And this could be a smart move.
15:46
[SPEAKER_00]: It won't cost you anything.
15:48
[SPEAKER_00]: Click on the link, check it out.
15:50
[SPEAKER_00]: See which one works good for you.
15:52
[SPEAKER_00]: All right.
15:53
[SPEAKER_00]: So let's break down.
15:53
[SPEAKER_00]: I want to break down how you can now amplify your retirement vehicles.
15:58
[SPEAKER_00]: There are three, three factors that would determine that will determine.
16:02
[SPEAKER_00]: I'm sorry.
16:03
[SPEAKER_00]: How wealthy you become.
16:05
[SPEAKER_00]: Those three factors are trim, T-R-M, time, return, and money.
16:13
[SPEAKER_00]: The more time your money has to compound and grow, the wealthier you're going to become.
16:20
[SPEAKER_00]: The better returns that you can get, meaning how fast you can double your money, the wealthier you're going to become.
16:28
[SPEAKER_00]: And how much money you invest?
16:30
[SPEAKER_00]: Hear me clearly, how much money you invest?
16:32
[SPEAKER_00]: It's also going to determine how wealthy you become.
16:35
[SPEAKER_00]: Now, the one factor we cannot change is time.
16:39
[SPEAKER_00]: We can't change time, hear me clearly.
16:41
[SPEAKER_00]: You cannot start investing five years ago, or 20 years ago.
16:47
[SPEAKER_00]: All right, and expect the same out of those, you need to start investing sooner rather than later.
16:57
[SPEAKER_00]: And I wanna talk about returns and money, starting with your full one, okay?
17:03
[SPEAKER_00]: If you want to get better returns, I need you to analyze your funds.
17:08
[SPEAKER_00]: The mistake a lot of people make is they just throw their money into whatever funds is recommended without even knowing what the fund is.
17:18
[SPEAKER_00]: And sometimes they're overpaying in fees.
17:24
[SPEAKER_00]: I need to check your funds history.
17:26
[SPEAKER_00]: because pretty much every company in, I will say the United States is going to give you access to high costs and underperforming funds.
17:37
[SPEAKER_00]: I'll say one more time.
17:38
[SPEAKER_00]: High costs to you, but underperforming funds, meaning you're not making money.
17:47
[SPEAKER_00]: All right, you don't believe me?
17:49
[SPEAKER_00]: I deserve research.
17:50
[SPEAKER_00]: 99% of 401K offerings were found to have at least one fun with a cheaper, higher performing alternative available.
18:02
[SPEAKER_00]: So yes, not all funds are made the same.
18:07
[SPEAKER_00]: So what I need you to do is spend 30 minutes doing some research.
18:11
[SPEAKER_00]: And if you don't know, just throw it into chat GPT and have it help you figure out how you can supercharge your 401k with less fees and higher potential growth.
18:21
[SPEAKER_00]: We gotta start using AI to at least get us information quicker because I want you to supercharge.
18:28
[SPEAKER_00]: I need you to know which funds you're investing into.
18:31
[SPEAKER_00]: Your money is sitting in a regular savings, making pennies while the inflation is eating lunch.
18:37
[SPEAKER_00]: Wow.
18:37
[SPEAKER_00]: That emergency fund that vacation money you've been stashing away, it should be working for you, not just sitting there.
18:46
[SPEAKER_00]: Here's the thing.
18:48
[SPEAKER_00]: Interest race change, every single month, and most people have no clue if they're missing out on some serious money.
18:55
[SPEAKER_00]: Every single day, we update our list of high yield saves account that are the best so that your money makes more money while you work and while you're sleeping.
19:06
[SPEAKER_00]: We're talking about turning your savings into a world building machine.
19:10
[SPEAKER_00]: Don't let your hard earned dollars.
19:13
[SPEAKER_00]: Stay lazy, I want you to visit anthonyoneo.com for slash savings right now and see which high yield saves account will put the most money back in your pocket today.
19:25
[SPEAKER_00]: Listen, go to anthonyoneo.com for slash savings choosing account, put your money in there and I promise you your future will say thank you, giving those some more money.
19:36
[SPEAKER_00]: We got that.
19:37
[SPEAKER_00]: What else?
19:38
[SPEAKER_00]: What are some other things I would say we can do?
19:41
[SPEAKER_00]: Well, one, we need to add some different vehicles to our portfolio, because the mistake that I see a lot of people make, they're only investing a few percent of their income into these vehicles I'm about to go over.
19:58
[SPEAKER_00]: But we know that if you invest more money, you can get to your financial goal, aka to wealth even faster.
20:06
[SPEAKER_00]: And there are other vehicles that you can do this as well.
20:10
[SPEAKER_00]: You can invest your own money into the stock market outside of your 401k by opening your own self-directed account.
20:18
[SPEAKER_00]: We suggest and recommend Moomu.
20:20
[SPEAKER_00]: We'll put that information inside of the show notes.
20:22
[SPEAKER_00]: You can go to anthonyonyl.com for slash Moomu.
20:27
[SPEAKER_00]: They're even giving you an extra $1,000 up to $1,000 in video stock for just opening up an account today.
20:36
[SPEAKER_00]: So we'll drop that information in there.
20:37
[SPEAKER_00]: Another option that I really like is M1.
20:41
[SPEAKER_00]: M1 is really good for passive investors.
20:44
[SPEAKER_00]: If you are investing your money into ETFs, a Moomu is it has a clear system and they are just to automatically help you invest your money into these ETFs very quickly and super cheap and affordable.
20:58
[SPEAKER_00]: All right, you can set the cadences every one week, every two weeks, every four weeks, once a month, you name it.
21:05
[SPEAKER_00]: You just set it and forget it.
21:08
[SPEAKER_00]: So there are a lot of ways now for you to invest your money into the stock market, whether it's individual stocks or funds outside of a 401k, everything is about the strategy, that way you can contribute more money to get you wealth even faster.
21:29
[SPEAKER_00]: Here's another option, real estate.
21:37
[SPEAKER_00]: Now, notice what I said, real estate.
21:42
[SPEAKER_00]: I'm not just talking about the house that you live in.
21:48
[SPEAKER_00]: I'm talking about buying properties.
21:51
[SPEAKER_00]: to rent out to other families.
21:53
[SPEAKER_00]: I'm talking about purchasing land that you can put inside you a state and pass that down to your children's children.
21:59
[SPEAKER_00]: Because why?
22:00
[SPEAKER_00]: When God left, I'm sorry, I'm a Christian.
22:04
[SPEAKER_00]: So did the capabilities and the possibilities of creating more land leave with them.
22:09
[SPEAKER_00]: Just had an opportunity to be on Bishop T.D.
22:12
[SPEAKER_00]: Jake's podcast that's coming out here soon and who's a hate man.
22:15
[SPEAKER_00]: What is one of the greatest investments you've made and I said land?
22:19
[SPEAKER_00]: Because I did the research and my research soul shows within the next 10 to 20 years, we are gonna be in this area where I purchased a land and that land is gonna be crazy rich.
22:30
[SPEAKER_00]: So I'm giving that land to my kids.
22:31
[SPEAKER_00]: And now what I'm doing is I'm buying other land from my grandchildren that my kids can't touch, but their kids kids can't touch.
22:40
[SPEAKER_00]: Because this real estate is great for building wealth.
22:45
[SPEAKER_00]: Because now, not only are you generating cash flow, but now you're adding to your net worth portfolio.
22:50
[SPEAKER_00]: Now you're adding to your kids' net worth portfolio.
22:53
[SPEAKER_00]: Can you imagine giving your kids home that's paid for, our land that's paid for?
22:58
[SPEAKER_00]: And now before they turn 18 years old, they're already net worth millionaires because of the decisions that you made.
23:07
[SPEAKER_00]: The rent that you're going to be getting, if you do it properly, should cover your property taxes, your insurance, your maintenance fees, I'll just say when it's vacant costs, and it should be put in money back into your pocket and towards your network.
23:25
[SPEAKER_00]: Because that way, when your property taxes go up, it should tense that are paying the higher costs.
23:32
[SPEAKER_00]: And you're getting paid just to manage the
23:36
[SPEAKER_00]: And if the property value goes up, well, that's just exercising on the cake for you because now if the property value goes up, your net worth goes up.
23:45
[SPEAKER_00]: It could be a great investment opportunity if you do it properly, but it takes more work, more time and more money to get started.
24:00
[SPEAKER_00]: But it has made a lot of people wealthy.
24:05
[SPEAKER_00]: Okay, not to mention that real estate has I will say some of the biggest and best tax breaks that our tax code has to offer.
24:15
[SPEAKER_00]: In fact, there are ways that you can hack this as well.
24:19
[SPEAKER_00]: If you're thinking about buying a house, there are ways to do a strategically.
24:23
[SPEAKER_00]: Maybe you buy a due place or three unit unit or four unit unit as your primary residence and you rent out the other three units.
24:31
[SPEAKER_00]: Listen, if I could go back,
24:35
[SPEAKER_00]: That would've been the first thing I did.
24:38
[SPEAKER_00]: I bought it, I would've bought a, instead of for me buying a, I would say a home, I would've went back.
24:50
[SPEAKER_00]: Errors of my thing about this to get a little frustrated, that's why I'm pausing, I'm sorry.
24:56
[SPEAKER_00]: My first home was a 3,200 square foot custom built home.
25:04
[SPEAKER_00]: When I was building at because I thought I was getting married.
25:11
[SPEAKER_00]: And so I was trying to impress at that time my son to be wife.
25:23
[SPEAKER_00]: And I jacked up because what I should have done, I would be wealthier today.
25:30
[SPEAKER_00]: I should have did this.
25:32
[SPEAKER_00]: I, I, I should have purchased a duplex and I should live on the right hand side and run it out the left side, or I should have done the top and run it out the bottom, because if you do the duplex right and we're going to do a whole show in this, I really want to do a whole show in this with the coalition group.
25:52
[SPEAKER_00]: It's, um, you run out the bottom and the bottom page of mortgage.
25:59
[SPEAKER_00]: I could have been living mortgage-free, rent-free, living in a home for free.
26:03
[SPEAKER_00]: But no, I wanted to ball that.
26:04
[SPEAKER_00]: I wanted to impress, rather than be strategic with my money and be at wealth.
26:09
[SPEAKER_00]: I don't regret why I met today, right?
26:11
[SPEAKER_00]: Because I need a home.
26:14
[SPEAKER_00]: But man, a 27, 28, 30 years old when it was just me.
26:18
[SPEAKER_00]: Man, I should have did that.
26:20
[SPEAKER_00]: Let me know in the comments section if you all want me to do a show with coalition group on how to properly get into a due place and how to really strategically do that because, man, I wish I could do that right now.
26:33
[SPEAKER_00]: I wish I wasn't well known.
26:35
[SPEAKER_00]: I wish people didn't recognize me because I was show enough live right next door to someone running out my spot, but I can't do that now, but I want to get back.
26:45
[SPEAKER_00]: I want to get back to socks.
26:46
[SPEAKER_00]: Let me know in the comments below if you all want me to do a show in that because I really do want to see if I want that.
26:52
[SPEAKER_00]: There are some ways that you can turn this stock, specifically into something that's a very high-performing car, per se, and go very slow, and you can decide how aggressive you want to.
27:05
[SPEAKER_00]: Let's say, for an example, you can invest into, I would say, some companies, right, specifically to say, blue chip companies.
27:14
[SPEAKER_00]: These are larger companies that have been more established.
27:17
[SPEAKER_00]: These huge multi-million, multi-billion trillion dollar companies are generally not going to grow as fast as your smaller startups.
27:25
[SPEAKER_00]: But for a smaller startup company, they don't want to grow by 3% a year or 4% a year.
27:32
[SPEAKER_00]: They want to grow by 20% a year because they want to gain market share.
27:36
[SPEAKER_00]: But that's going to be more risk for more potential returns.
27:40
[SPEAKER_00]: So when you're investing in stocks, you can decide how much risk you want to take.
27:45
[SPEAKER_00]: you can find more riskier types of investments that have the potential to grow a whole lot faster than the market, but they could also go bankrupt.
27:55
[SPEAKER_00]: I'm gonna be honest with you.
27:56
[SPEAKER_00]: Or you could take a little bit less risky and invest into more of a stable strategic company that have been around for a long time and see less, I would say less growth, but have more steady growth and less risk.
28:12
[SPEAKER_00]: This is where it's so important for you as investors to understand that it is in your specific hands.
28:20
[SPEAKER_00]: All right.
28:22
[SPEAKER_00]: So, I want to give you the action plan as I'm coming to a close for this show.
28:28
[SPEAKER_00]: I believe in setting up the problem, give me some conversation and give me a specific action plan.
28:34
[SPEAKER_00]: So here are the exact steps you need to take starting today.
28:37
[SPEAKER_00]: Step number one, I need you to calculate your number.
28:39
[SPEAKER_00]: Use the 4% rule, figure out how much you need per year to live comfortably, divide that by 4%.
28:48
[SPEAKER_00]: That's your retirement number and you do the right that down.
28:51
[SPEAKER_00]: So that number two is audit your current 401k portfolio.
28:56
[SPEAKER_00]: Check your expense ratio, compare your fine and performance to our turner divs and you'll optimize your selections.
29:04
[SPEAKER_00]: Remember, 99% of 401k plans have cheaper.
29:08
[SPEAKER_00]: better performing alternatives available.
29:11
[SPEAKER_00]: We'll see you's in a set number three, open a self-directed investment account.
29:16
[SPEAKER_00]: Go to anthonyo.com for slash moomu, start with $100 to $500 a month if you can.
29:23
[SPEAKER_00]: Remember, our goal should be 12 to 15% of our annual income.
29:28
[SPEAKER_00]: and invest it into index funds, stop market, a blue chip company is if you want single stocks, mutual funds, you name it, set it up automatically so you can invest so you don't have to think about it down the road, which leads me to the last step, increase your investment rate.
29:48
[SPEAKER_00]: Don't stop at 4% company match.
29:51
[SPEAKER_00]: Aim to like I said, in between 12 to 15% of your income across all your vehicles.
29:58
[SPEAKER_00]: Now once you get 100%, like I said, debt free and you really feel good about your money, some of you all may want to stretch it to 20% like myself.
30:06
[SPEAKER_00]: And what I really want to see you do is automate your investments, so the money comes out before you can even spend it.
30:13
[SPEAKER_00]: And let me say this too as we come to,
30:16
[SPEAKER_00]: the end, which is the final thing.
30:24
[SPEAKER_00]: I'm riding my new book.
30:25
[SPEAKER_00]: I can't say the name will be yet, and I'm really excited about this, but when it comes to investing and building wealth, I think we miss out on something that's crucial.
30:42
[SPEAKER_00]: Something that's massive.
30:44
[SPEAKER_00]: It's crazy crucial.
30:50
[SPEAKER_00]: We miss out on the number one investment vehicle, but that I believe that truly builds wealth.
30:57
[SPEAKER_00]: And that's tight ink.
31:01
[SPEAKER_00]: I'm actually going to be in my book coming up, teaching something that I believe that we should take our investments up to where 22 to 25% of our money should be invested.
31:18
[SPEAKER_00]: And the very first thing we should do with our money is invest 10%.
31:22
[SPEAKER_00]: And when I say invest 10%, I'm talking about give God that 10% of his income from the very beginning.
31:33
[SPEAKER_00]: Anthony, how is I going to make me wealthy?
31:34
[SPEAKER_00]: Well, if as a Christian, I believe that God owns it all.
31:39
[SPEAKER_00]: That God, even the other 90% that I keep, it is still his.
31:45
[SPEAKER_00]: And if I went that 90% to grow, then I got to show him he can trust me with more.
31:50
[SPEAKER_00]: So got here's 10%.
31:53
[SPEAKER_00]: Now do I believe we don't give to 10% or are we going to hell?
31:56
[SPEAKER_00]: No, we're in a new testament.
31:57
[SPEAKER_00]: We're in a great season.
31:58
[SPEAKER_00]: I believe that God still loves us a matter of what.
32:02
[SPEAKER_00]: But I do believe that obedience and I do believe that generosity, it just triggers and activates something in God.
32:16
[SPEAKER_00]: If I'm being 100% honest with you, I believe one of the reasons why my company is performing and doing well and that every single month, I don't know how we're doing the things that we're doing.
32:29
[SPEAKER_00]: But I think it's because God just sees my generous spirit.
32:34
[SPEAKER_00]: I'm generous with my friends, I'm generous with the people who I love, I'm generous with my staff.
32:40
[SPEAKER_00]: But I don't play about timing and being generous.
32:45
[SPEAKER_00]: I'm going to do a whole show on tithing of why I believe tithing is the best wealth secret that a lot of a skip over.
32:55
[SPEAKER_00]: I'm not going to do too much right now at the end of this show because we're already way over time.
33:00
[SPEAKER_00]: But I firmly do believe that it's going to be a powerful, powerful, powerful, powerful show.
33:06
[SPEAKER_00]: And it's going to trigger some people, it's going to trigger some people.
33:12
[SPEAKER_00]: But one of your action plan is this week, I want you to try God within the next 30 days.
33:17
[SPEAKER_00]: I want you to go to your local church and I want you to tie it.
33:19
[SPEAKER_00]: If you haven't tied this year, if you haven't tied up in the last month, I want you to tie it.
33:23
[SPEAKER_00]: And I want you to be real with God.
33:25
[SPEAKER_00]: So God, I am going to start investing back into you.
33:33
[SPEAKER_00]: I don't care what the pastor's driving on care to close.
33:35
[SPEAKER_00]: He got on, she got on, what she's driving on.
33:37
[SPEAKER_00]: I don't care, I'm just going to trust in your word.
33:42
[SPEAKER_00]: Guys, send it back to me, Tentiful.
33:44
[SPEAKER_00]: God, you know my desires.
33:45
[SPEAKER_00]: God, you know my number of what I need at retirement.
33:47
[SPEAKER_00]: God, you know what I desire to do.
33:49
[SPEAKER_00]: You know I want to build generational wealth.
33:50
[SPEAKER_00]: God, here is the first 10% I need you.
33:55
[SPEAKER_00]: But then in the next 30 days, trust God.
34:01
[SPEAKER_00]: And if this issue, I need you to put in the comment section and say, I'm going to trust them.
34:05
[SPEAKER_00]: I need you to put it in the comment section, Anthony, I'm going to trust God with the next 30 days.
34:10
[SPEAKER_00]: If you don't even go to a local church, you watch a church online, go to their website and just tie it.
34:16
[SPEAKER_00]: Practically speaking, it's a tax rattle.
34:22
[SPEAKER_00]: Try it.
34:25
[SPEAKER_00]: Listen, we've mentioned a lot of
34:29
[SPEAKER_00]: links and websites in today's show.
34:31
[SPEAKER_00]: We're going to link all of them inside of today's show notes.
34:35
[SPEAKER_00]: My heart feels heavy about about the last part.
34:41
[SPEAKER_00]: I'm really going to do a show on that.
34:43
[SPEAKER_00]: I really am.
34:45
[SPEAKER_00]: Me looking for that here, Rosalm.
34:47
[SPEAKER_00]: I'm going to do that soon.
34:49
[SPEAKER_00]: Cause I think this is the best wealth secret that a lot of people just don't act today.
34:56
[SPEAKER_00]: You know why we don't, you know what, I'm not gonna do that.
34:58
[SPEAKER_00]: I'm excited for the show.
34:59
[SPEAKER_00]: Listen, we're done.
35:00
[SPEAKER_00]: God bless you all.
35:01
[SPEAKER_00]: I'll see you there next one.
35:02
[SPEAKER_00]: Peace out.