Learn how to pay off debt and how to invest in index funds
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1. Mindset Stage
Face Your Money
Believe You Can Win
Believe You Can Win
No problem was ever solved by avoiding it.
Your money is connected to everything you do. You can't hide it.
To conquer your negative feelings of fear, shame, and guilt, know there is hope.
Believe You Can Win
Believe You Can Win
Believe You Can Win
Many people don't try because they don't see any hope in conquering their money.
YOU can do this.
Success in any goal comes down to effort.
How much are you willing to work?
Create Big Goals
Believe You Can Win
Create Big Goals
Goals give us growth.
Goals keep us focused.
Some examples are:
- Pay off $1,000 debt each month.
- Invest $1,500 monthly into retirement.
2. Regressive Debt Stage
Pay Off Debt
Create a Budget
Pay Off Debt
Debt steals your future income.
When you have debt, you are obligating your future income to those payments.
Debt is expensive.
Don't throw away your income to interest.
Live on Less
Create a Budget
Pay Off Debt
This is common sense,
yet why don't we do this?
We are emotional beings with egos and an image to uphold. When your ego drives your spending decisions, you're in trouble.
Create a Budget
Create a Budget
Create a Budget
"What gets measured, gets managed."
- Peter Drucker
A budget isn't a constraint.
You develop your budget.
You're in control of your budget.
3. Retirement Investing Stage
Invest in Retirement
Invest in Retirement
Invest in Retirement
The two most powerful variables of compounding are time & contributions.
The sooner you start investing, the sooner you'll see the magic of compounding work in your accounts.
The more consistent you invest, the more powerful compounding will be.
Retire Early
Invest in Retirement
Invest in Retirement
Consistently investing in yourself and appreciating assets creates passive income.
Consistency, discipline, and patience pay off when you practice them over the long-run.
Appreciating assets are the path to wealth.
Work then becomes optional.
Make More Income
Invest in Retirement
Make More Income
To win with money, figure out how to earn multiple streams of income.
The opportunities are endless.
Here are some options:
- passive income
- part-time job
- side hustle
4. Progressive Debt Stage
Save an Emergency Fund
Analyze Opportunity Costs & Fees
Analyze Opportunity Costs & Fees
We live in an imperfect world where unexpected things happen.
Calculate a month of expenses, multiply by six, and save that much money.
Having six months of expenses gives you time to adjust if something happens to your income.
Analyze Opportunity Costs & Fees
Analyze Opportunity Costs & Fees
Analyze Opportunity Costs & Fees
Every debt you decide to take on creates an opportunity cost for that cash, even debt on appreciating assets.
Know the costs & fees before you sign the documents.
Make sure this is the best deal for you.
Save a Down Payment
Analyze Opportunity Costs & Fees
Save a Down Payment
Saving up a down payment shows you are committed.
Saving a down payment:
- reduces your risk
- gives you more time
- shows your lender you are ready
- improves your decision-making ability
5. Non-retirement Investing Stage
Invest in Appreciating Assets
Invest in Appreciating Assets
Invest in Appreciating Assets
Appreciating assets are the path to wealth.
The three most popular appreciating assets are:
Stock-related Investments
Real Estate
Businesses
Gain Financial Freedom
Invest in Appreciating Assets
Invest in Appreciating Assets
Every debt you decide to take on creates an opportunity cost for that cash, even debt on appreciating assets.
Know the costs & fees before you sign the documents.
Make sure this is the best deal for you.
Stay the Course
Invest in Appreciating Assets
Stay the Course
Zig Ziglar said:
"People often say that motivation doesn't last. Well, neither does bathing, that's why we recommend it daily."
Discover your sources of inspiration and go back to them every day.