MASTERCLASS: Buy These 5 FOREVER INVESTMENTS To Be Financially Free

"The reason I say you want to own real estate for resident itial purposes for life is because people will always need a place to stay no matter what happens in technology and no matter what happens in the future people will always need a home"

"you get to tell the IRS hey this property that I own is one year older so I deserve a tax break called the depre appreciation deduction on my taxes"

"when you die your estate gives this property either one to your heirs your kids Now happens is your kid is going to get this property and the government is going to say that your kid got the property they bought it for $5 million so if your kid went out and they sold this property today for $5 million after you die they will get this $5 million of cash and they don't have to pay any taxes on this money because to the government it looks like they bought the property for $5 million this concept is called stepped up basis"

"if you believe in the American economy what you want to be beted on is the American economy because while companies like Sears might come and fail and JC Penney might come and fail and circus City might come fail and herds might come and fail and California Pizza Kitchen might come and fail the American economy has continued to grow The closest way for you to get actual exposure to the American economy is to invest in the broader stock market as a whole and that would be through funds like vo and spy"

"your stocks and your real estate are what you own to fund your retirement to create more passive income and to build your wealth your gold is almost like Financial Insurance is there to protect you against something horrible happening in the economy"

"this is what's considered the new digital gold gold was the original currency and many people believe that cryptocurrency and blockchain will be involved in our future currency"

"you should consider investing in some Commodities that people will need to survive so one example of this is water if you've ever seen the movie The Big Short great movie by the way which talks about the 2008 real estate collapse at the end of the movie they talked about how this guy was investing in water because we have a limited supply of water in the world and our demand and our needs for water keep going up"

"within all four of these accounts you have a traditional version and then you have a Roth version the traditional version so traditional 401K traditional IRA traditional 403b traditional 457b all these things mean that you do not pay any taxes today you invest your money today and then this money gets to grow taxfree so every time you make a profit you don't have to pay taxes on it and then when you start pulling this money out when you're a whole lot older that's when you pay taxes when you pull the money out with the Roth It's the opposite with the Roth option Roth 401k Ira 403b 457b you pay taxes on your money today and then this money goes into your account"

"the biggest difference between these three plans is going to be with your 457b because what the 457b says is if you pull your money out of your retirement account before you are 59 1/2 years old you don't have to face a penalty but if you pull your money out with a 401k or a 403b before that 59 1/2 years old then you're going to be subject to a 10% penalty on the money that you pull out"

"when you invest your money into these funds these funds charge a fee to manage your money and some funds are going to charge you a whole lot more than other funds so what you need to do is you need to look at something called the expense ratio this expense ratio is going to tell you what the fees are for the funds that you're invested in some of these fees are going to be upwards of 1% or even 2% of your assets a year"

"people who follow the Roth model will say well I don't know what's going to go on with tax rates I think that that because the United States national debt is skyrocketing and I don't see our national government spending slowing down I think the government is going to want to raise taxes and if they raise taxes it will be more beneficial for me to pay my taxes today than when I pull my money out"

"an index fund and the ETF are passive Investments That means instead of having an expensive money manager you have a computer and this computer has an algorithm and this algorithm is going to say okay we want to invest in let's just say the biggest 500 companies on the stock market"

"a company becomes a dividend achiever if they have paid out and increased their dividend every year for at least last 10 years a company becomes a dividend Champion if they have paid out and increased their dividend every year for at least the last 25 years and a company becomes a dividend King if they have paid out and increased their dividend every year over the last 50 years"

"now you can invest your money into a fund that's paying you a dividend and this fund could be made up of dozens or hundreds of companies that way if one of the companies and the fund goes bankrupt well it's balanced out by the other winners so it's a way for you to reduce some of your risk"

"when I invest in real estate I don't just buy a property with the goal of trying to sell it for a huge profit when I buy property my goal is to get cash flow so if I buy a property for let's just say1 $50,000 I'm going to buy this property not with the intention of selling it for $200,000 I'm buying it because now I know that this property is going to rent out for $1,500 a month every month"

"more and more Americans now have a $1,000 monthly car payment I think it was 20% of all Americans who have a car payment have at least a $1,000 a month car payment that is a whole rent payment for a lot of the country"

"if you cannot buy five of them you cannot afford one of them"

"I call it a decade of sacrifice but if you can put in that decade of living smaller and working to earn more money that way you can invest more aggressively after a decade you're going to have a whole new stream of income maybe a whole new asset that's producing more money for you that you can start using to live a better life"

"a real asset is something that will continue to pay you even when you stop working"

"that's why the home that you live in is not a real asset because if you stop working you still have to keep paying out of your pocket to pay for that home if you stop working you still have to pay out of your pocket to drive that car"

"we've seen the stock market grow over the last century"

"now investing in real estate takes more money than investing in stocks you would need at least somewhere between $30 to $50,000 to get started as a real estate investor"

"building a business unlike what a lot of people say on the Internet it's not something that you can do just here and there if you want to see real success with that business I mean sure if you want to just build a side hustle you could do that but if you really want to build a real multi-million dollar business if you want to build a real sustainable business it takes time it takes hard work it takes risk"