I am a graduate of the School of Hard Knocks. I've made blunders with money over the years, and that's why I can help you to avoid the pitfalls and to save for your future. Saving $1,000,000 is doable so come and find out how it's done.
Part 2/2 – Wrap up of Millionaire Next Door.
We’ll spend our time discussing our net worth. What it is and how to increase it.
It doesn't matter what you make. It only matters how much you've saved. That's what will secure your future. Having a million dollars in retirement is possible - It requires saving consistently over an extended period of time.
In the Millionaire Next Door, there's a formula for determining your net worth.
Check it out: Your age times your current annual salary / ten.
Example: You are 40 years old making $75,000 = $3,000,000 / 10 = $300,000
Take what you own (Assets) minus what you owe (Debts)
What does it look like for you? How close did you come to the example listed above?
There is no right or wrong here. Use this as a guide
When it comes to creating generational wealth, does the recipient have a basic understanding of money and how to make it last? Helping vs. Enabling – don’t fall into the Enabling trap.
Part 1 – Wrap up of Millionaire Next Door. Do you know how much your monthly debt is? It’s imperative that you learn what your numbers are and how to remain in control of your finances. What you make vs. What you owe.
Plus, I shared my recipe for Quick and Dirty Chili – Brown 1 lb. of ground beef, or ground turkey or ground chicken. Drain and add a pack of chili seasoning mix. Add the meat to 1 can of diced tomatoes, 1 can of tomato soup and 1 can of kidney beans (or whatever you like. I use Bush’s spicy chili beans) and heat for 15 minutes. Dinner for under $12. Perfection!
When it comes to creating generational wealth, does the recipient have a basic understanding of money and how to make it last? Helping vs. Enabling – don’t fall into the Enabling trap.
It doesn't matter what you make. It only matters how much you've saved. That's what will secure your future. Having a million dollars in retirement is possible - It requires saving consistently over an extended period of time.
Have you heard of the book, The Millionaire Next Door? There's a formula for determining your net worth.
Check it out: Your age times your current annual salary / ten.
Example: You are 40 years old making $75,000 = $3,000,000 / 10 = $300,000
Take what you own (Assets) minus what you owe (Debts)
What does it look like for you? How close did you come to the example listed above?
There is no right or wrong here. Use this as a guide
Please protect yourself and your loved ones from scams and fraud involving your hard-earned retirement money. It nearly happened to a lovely woman I know who’s a friend of the family.
When it comes to creating generational wealth, does the recipient have a basic understanding of money and how to make it last? Helping vs. Enabling – don’t fall into the Enabling trap.
It doesn't matter what you make. It only matters how much you've saved. That's what will secure your future. Having a million dollars in retirement is possible - It requires saving consistently over an extended period of time.
Have you heard of the book, The Millionaire Next Door? There's a formula for determining your net worth.
Check it out: Your age times your current annual salary / ten.
Example: You are 40 years old making $75,000 = $3,000,000 / 10 = $300,000
Take what you own (Assets) minus what you owe (Debts)
What does it look like for you? How close did you come to the example listed above?
There is no right or wrong here. Use this as a guide
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