MASTERCLASS - Once You Save $1,000 Do These 5 Things ASAP

"if you're getting started on your wealth Journey a few books that I recommend every single person read on the money management side are number one Rich Dad Poor Dad by Robert kosaki number two Total Money Makeover by Dave Ramsey and number three is the creature from Jackal Island"

"if you can invest $100 a month and this is something that everybody should be able to do if you cannot invest an additional $100 a month then you need to go and watch some of my other videos about how you can live smaller or earn more money that way you can put aside $100 a month this is less than $4 a day but if you invest $100 a month and you can get a 10% average return on your money which historically has been the return of the stock market over the last century and you do this for 46 years you will retire with with over $1 million in your investment account"

"The way you can actually succeed as this type of passive investor is you want this to be as passive and automatic as possible meaning every week or every two weeks or every month you pick your own interval but every so often money is automatically going to be invested and this does not change doesn't matter if the Market's up or down you do this for a number of years if not decades that way you can actually build wealth because you need the time but you have to have it be passive and that means you want it to be automatic because you don't want to rely on you"

"Consistently buy an S&P 500 low-cost Index Fund and keep buying it through thick and thin and especially through thin"

"if you can invest $1,000 a month and you get a 10% return and you do this for 25 years you will be able to retire with over $1.2 million in 25 years with their $1,000 a month investment"

"True Financial Freedom is when you have enough cash flow or passive income coming in from your Investments to pay for your expenses"

"my Investments are here to make you wealthy your savings are here to protect you against the financial emergency the spending money is there to allow you to have the nice things go on the nice vacations eat at the nice restaurants buy the nice cars but this money is not going to make you rich this money will make you rich this money will protect you financially"

"McDonald's bottomed at just over $50 a share it was about $52 a share for the McDonald's stock and during this time when the stock fell down to about $50 a share they were still paying about a $2 annual dividend... if you held on to the stock from 2009 through July of 2022... your stock was could have gone up in value because in July 2022 the McDonald stock went up to $250 a share and their dividends also increased from $2 a share up to $5.50 a share"

"retirement was considered a three-legged stool and the way the retirement planning worked is in number one you had your p pension your company would pay you a pension... Then you would get Social Security... and then you have number three which is your personal savings... what's happening now is these pensions are essentially extinct... then Social Security is well drying up... which leaves your personal savings your Investments"

"the way you can actually succeed as this type of passive investor is you want this to be as passive and automatic as possible meaning every week or every two weeks or every month you pick your own interval but every so often money is automatically going to be invested and this does not change doesn't matter if the Market's up or down you do this for a number of years if not decades that way you can actually build wealth"

"I like to look at investing like I want to invest my money into something and start generating some cash flow... the bulk of my Investments not all but about 75% of my investments are cash flow producing assets that means that I buy something and it pays me with cash flow"

"ETFs trade like regular stocks meaning you can buy and sell out of an ETF multiple times a day... versus with index funds you can generally only buy and sell an index fund once in a day... Many index funds are going to have some sort of minimum dollar requirement to buy into an index fund versus the ETFs don't"

"if you can invest $1,000 a month and you get a 10% return and you do this for 25 years you will be able to retire with over $1.2 million in 25 years"

"you need to save your money strategically that means you want to have somewhere between 3 months and 12 months worth of expenses saved up"

"if it doesn't put any money in your pocket don't use debt to buy it The only exception to this would be the house that you live in"

"there's a limit to how many pennies you can squeeze out of your income but there's no limit to how much you can earn"

"if your money is sitting in a savings account and it's paying you 05% in interest well what you could do is just look for a highin savings account which you know the interest rates change month to month but at the time I'm recording this video you have highin savings accounts that are paying 4% sometimes even close to 5% in interest"

"if you want to invest your money into dividend paying ETFs this is an ETF that invest in high dividend paying companies then you can look at something like SD this is a dividend ETF"