Money Mastery

It's not what you make, it's what you save

Pay Scale 

Save 20%-40% of your income

Buckets:

Long - Retirement 20+ years

Mid - buying a house 5-10 years

Short - 1-5 years

Emergency Fund (1,000)

Wealthfront 5% 

Taxes

Understand the Basics

Rule of 72

Education - subscriptions

Systems

Tax

Cash Flow

Investment Properties

Text

Rule of 72

Take 72 and divide it by interest rate = years it take for your money to double

Example: 10,000 invested at 20 years old and 10,000 invest at 30 years old

Both at 10% annual rate of return

1% at bank but safe

$50 x52 =2,600

20,000    22. 

20,000.   29

40,000. 36. 10,000

80,000.  43 20,000

160,000   50 40,000

320,000 57 80,000

640,000 64 160,000

1,280,000 71 320,000

240,000

Education:

Tony Robbins: Money Master the Game

Robert Kiwosoki - Rich Dad Poor Dad

Think and Grow Rich - Napolean Hill

Motley Fool 

Robinhood Snacks (Podcast)

Wall Street Journal

Curious to learn...

Systems:

Dollar Cost Averaging

Vector Withholdings

2nd Friday 

Acorns

Stash 

Qapital 

Coinbase 

Fidelity 

Vanguard

Taxes:

No Tax - some vehicles - Roth/ Life Insurance

Capital Gains Tax - Stocks/ Mutual Funds

Ordinary Income Tax - Income

Legal Zoom: Create S Corp or LLC

Cash Flow/ Investment Properties

Buy 2-5% Down First House

Find multiple roommates/ house hack

Credit Score

Bigger Pockets

Example my brother and I bought house for 360,000 put down 40,000. 

Mortgage was 2,400 - 5 bedrooms

3 roommates paying $800 a month = our mortgage just paid utilities.

Now Rent to family - 3,550

Cash Flow 1,200 on property

Speak to a realtor in your area

Sold Property for $225,000 Gain -Rolled into another Investment property