Affluenza is the damage done to our health, our families, our communities, and our environment by the obsessive quest for material gain.
To make this simple: Affluenza is the "we need more stuff to be happy" epidemic.
Since the late 1950s, the happiness inside the United States has steadily decreased. However, incomes have almost doubled, our houses have more than doubled in size, and the quest to gain happiness through "stuff" is at an all time high.
And what about the consequences of Affluenza? How much of our money do we actually save compared to the rest of the world? And what are the other consequences when it comes to this epidemic?
All of this in the show today AND a freebie cheat sheet that I use when deciding on making a big purchase.
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You can grab that free PDF cheat sheet here:
https://www.moneypeach.com/136download
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All the show notes and links mentioned in the episode can be found at:
https://www.moneypeach.com/session136
Benjamin Brandt, host of the Retirement Starts Today Radio Show and Founder/CEO of Capital Wealth Management is coming on the show today to talk about the 5 steps to building wealth inside your 401k.
Believe it or not, $1 million may seem like a lofty goal by today's standards, but will it be enough if you're planning on retiring 20-30 years from now?
Here are the 5 steps we will discuss during the show:
Step 1: Start Saving Today
The money you will be living off of in retirement is not from the money you are setting aside today. It's from the money that your money will be making in the form of compound interest.
Step 2: 10% -15% Invested
Start off by saving 10% - 15% of your income. Then, every time you get a raise, split the raise: half goes to you and the other half goes to your 401k.
Step 3: Always Get the Employer Match
97 percent of employers offer a company match. How much is the match, is it a tiered match, and how do you find this out? Remember, the employer match is truly FREE money for your nest egg.
Step 4: Invest Into the Right Funds
Not everyone will be investing into the same funds. Some of us retire next year and other will retire in 30 years from now. Knowing what to invest in based on the level of risk and time you have left is crucial.
Benjamin gives some great insight on what you should be investing in depending on age vs risk vs reward.
Step 5: Keep Your Hand out of the Cookie Jar
There are three ways you can access money from your 401k, and only one of them is correct.
The correct way: wait until you are in retirement and access your nest egg penalty free.
Wrong way #1: early withdrawal and pay a hefty penalty
Wrong way #2: take a 401k loan
Benjamin breaks down why you want to avoid tapping into your 401k until you are at retirement age and most importantly why this is not a good idea.
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All the show notes and links Benjamin mentioned can be found at https://www.moneypeach.com/session135
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If you would like a plan on how to create a budget, save more money, and pay off debt, I would love to work with you.
I am currently taking applications for my next live coaching program. Head on over to https://www.moneypeach.com/apply to learn more about how you and I can work together and the results you will get.
What if God spoke to you and told you to take a year off from work?
Not in a few months or years from now, but right now?
This is exactly what happened to the founder of Seedtime.com — a Christian personal finance site dedicated to teaching biblical principles about money.
During the interview, Bob shares how he was just coming off another great year in his business when he felt the nudge from God to take a year off.
Timing could not have been worse for Bob when he felt God call him to do this, but he followed what he felt he was commanded to do.
Did everything turn out just like you would expect?
Of course not.
But what Bob and his family gained was far greater than they could have ever imagined.
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Looking for a better way to manage your finances so you can save up and prepare for real estate investing?
I am currently taking applications for the upcoming financial coaching program where you and I will be meeting for 5 weeks over a weekly Zoom call.
In those 5 weeks, you will master a spending plan, you will save $500, and you will start rapidly paying down debt.
Over 100 people just like you have gone through the program and the program is currently at just over a 97% success rate!
You can apply here: https://www.moneypeach.com/apply
I personally review all applications and will be in contact with you soon!
Why would anyone want to invest in real estate?
Maybe it's to diversify their retirement nest egg?
Or maybe they're looking for a passive income stream?
Or maybe they want to build long-term wealth they can pass down to future generations?
Whatever your reasoning is for investing in real estate, the biggest question should be: How do I get started?
I'll be honest - even for someone who has spent years inside the financial world, I still have many questions and I am definitely NOT an expert in real estate by any means.
(In fact, I will share in the episode how I lost a ton of money in real estate in 2019).
Therefore, I am turning to an expert when it comes to long-term real estate investing — Dustin Heiner.
Dustin is the founder of MasterPassiveIncome.com and SuccessfullyUnemployed.co.
During our conversation, Dustin will share the 6 ways he earns passive income in real estate and how to get started.
We discuss everything from choosing the right property, finding the right property manager, what parts of the U.S. Dustin is currently invested, and some red flags you must watch out for.
Dustin also will share with you how he has built up a portfolio of over 30 properties and what he is expecting the future of real estate investing.
Dustin is also giving away a free course for listening to the show and you can find that by heading on over to the show notes here:
https://www.moneypeach.com/session133
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Looking for a better way to manage your finances so you can save up and prepare for real estate investing?
I am currently taking applications for the upcoming financial coaching program where you and I will be meeting for 5 weeks over a weekly Zoom call.
In those 5 weeks, you will master a spending plan, you will save $500, and you will start rapidly paying down debt.
Over 100 people just like you have gone through the program and the program is currently at just over a 97% success rate!
You can apply here: https://www.moneypeach.com/apply
I personally review all applications and will be in contact with you soon!