The 75/15/10 Rule: The Easiest Way to Budget Your Money

"the top tax rate today is 20% when you earn that money from your job is a whole lot higher we're talking about double thatt here so top tax are to 20% here but if you make this money from Real Estate now it's a little bit different because you qualify for a whole lot higher tax write-offs"

"you want to have somewhere between 3 to 12 months worth of savings put aside here"

"as a real estate investor one of the things that you can do is you get to tell the IRS hey I made a million dollars from my real estate Investments but I qualify for a tax break because my property is one year old older yeah I know my property went up in value by $200,000 but I still deserve a tax write off it's 100% legal and this is why you see so many Real Estate Investors bragging about how they can make millions of dollars and pay little to no money in taxes legally"

"your investment income comes with either a lower tax rates or B higher tax write-offs compared to your ordinary income or your earned income"

"For every dollar that you earn from here on out 75 is the maximum that you can spend 15 cents is the minimum that you invest and 10 cents is the minimum that you save"

"You want to have somewhere between 3 to 12 months worth of savings put aside here"

"your investment income comes with either a lower tax rates or B higher tax write-offs compared to your ordinary income or your earned income"

"if you made a million from your long-term stock market Investments that you sold well the top tax rate today is 20%"

"as a real estate investor one of the things that you can do is you get to tell the IRS hey I made a million dollars from my real estate Investments but I qualify for a tax break because my property is one year old older yeah I know my property went up in value by $200,000 but I still deserve a tax write off"

"if my business were to go bankrupt my income goes to zero I stop making money that's the problem but here's the protection that I have I also own Investments I have a Real Estate Investment Portfolio I have a stock market portfolio that pays me with dividends"

"The reason why Millionaires and successful people can have multiple streams of income is because because they built one successful stream of income first and once they built this once they made a million dollars from this one thing they could then diversify into a second and then diversify into a third"

"passive investing is a set it and invested strategy"

"passive investing is you going out into the stock market and you're investing into an index fund or an ETF or a mutual fund that's managed by somebody else and now you just keep giving them money every week or every two weeks or every month and you don't have to worry about it"

"active investing is where you're looking for individual Investments I'm not talking about stock trading I'm not talking about real estate flipping I'm talking about looking for an individual company an individual piece of real estate that you were going to own and manage yourself for the long term"

"I have money going into bank accounts that are sitting there waiting to be invested when I find a good real estate investment when I find a good stock market investment then I will take out that money and deploy it there"

"active investing has more risk than passive investing or do you want to take on less risk do you want more potential upside active investing has more potential upside than passive investing but it comes with the more risk"

"The reason why many people lose isn't because they picked the wrong fund it's because they never got started and so the key is just get started"