Baby Step #2 Pay of all debt using “Debt Snowball” - Get out of debt with Gazelle/Cheeta intensity - Pay off the smallest loans/credit cards first - This would take around 18-24 months depending on whats your total debt
-
-
Prikaži ovu nit
-
Baby Step #3 Build upto 3-6 months of expenses in savings thats easily accessible or LIQUID - Money Markets are a good place to keep that money - An emergency fund turns a “crisis” into an inconvenience
Prikaži ovu nit -
Step #4 Invest 15% of income towards retirement - Compound interest is a mathematical “explosion” - $100 per month from age 25 to 65 at 12% = $1,176,000 (A $100 is less than what I spend on cigarettes) - 401k are the secret money makers
Prikaži ovu nit -
Baby Step#5 College Funding - Make sure kids are set too for education - An education savings account ESA funded in mutual growth stock is best. - Take the time to estimate the cost of college for your kids at that time
Prikaži ovu nit -
Baby Step #6 - Pay off your house mortgage and never take mortgage ever again.
Prikaži ovu nit -
Baby Step 7 Build wealth and give!!! - Wealth is not an escape mechanism but a tremendous responsibility - There are three things you can do with money! You can have fun with it, invest it and give it!!!
Prikaži ovu nit -
Never borrow money!!! Ramsy: I dont wanna do anything with the bank unless I am buying it! Advice: Never get home morgtgae which is more than 25% of your income.
Prikaži ovu nit
Kraj razgovora
Novi razgovor -
Čini se da učitavanje traje već neko vrijeme.
Twitter je možda preopterećen ili ima kratkotrajnih poteškoća u radu. Pokušajte ponovno ili potražite dodatne informacije u odjeljku Status Twittera.