How to ACTUALLY Become a Millionaire! (5 Simple Steps)

how to become a millionaire with five simple steps there is a lot of advice out there telling you how to make that first million showing you just how easy it is um here's an example of what we're seeing we're not so sure about it how do you make that much money i'm gonna show you exactly how i became a millionaire so this is me with melissa lee humble brother and this is them showing off my portfolio on live tv just that you know i'm not capping so elon musk he made a tweet using the word elongate after this tweet i saw a cryptocurrency named elongate that was just released so i threw 10 grand in right around there and keep in mind this happened in a span of like a month and i was just watching as the price went insane on april 19th of this year the 10 000 that i put in turned into over a million dollars and that's pretty much how i became a millionaire now it's your turn oh it's so simple so easy just you know find the next elongate and just throw ten thousand dollars in there so wow just to reflect on this just a touch just to take in first of all before i throw shade let me give a compliment at least he's gonna be honest and tell us hey this is how i made my million dollars i'm gonna take it that that means that he actually sold the shares at the top right and he kept it because i hope so for him he checked on i mean has anybody checked on along by the way elongate or alone gate that's how he said it okay and it's because what has happened to elongate you want to see yeah oh it's not doing so well as brian pointed out that's that's zero that's not a lot of range on this chart there's a lot of zeros there's decimal zero zero zero i mean that's a lot so hopefully he he he truly turned it into wealth otherwise we need to go check on him this is one of those things where i worry about so much of social media the influencers of making wealth building seem simple but really what he described was a lottery ticket exactly like we agree that making a million dollars might be more simple than a lot of people tell you but it's not this like hot ticket lottery um magic thing but here the good news is we're gonna tell you the five steps of how to actually make that first million the smart way and i'm very excited about it so let's dive right into the first point it is find a way to create disposable income if you're gonna make a million dollars you have to start with something right yeah and i would encourage everybody i mean think about this if you're in a job that you just don't see where you're going with it i mean how do you build a big enough shovel that you can hopefully have enough income not only to pay your expenses but also to have extra margin that you can invest because remember the game ultimately is you're trading your time currently to pay the bills but eventually you want to trade the money so you control the time you've got to have income and margin to make that happen right and then the next step is to engage with the foo to know exactly where to put your next dollar foo stands for financial order of operations that's our tried and true nine step process to tell you exactly what to do with your next dollar you can actually get a copy of it for free just go to moneyguy.com resources if you want the overview or the deep dive is in our course at learn.moneyguy.com but this is going to really set you up for success it's going to give you that security but it's also going to give you the ability to grow that army of dollars that you're starting with that disposable income well i think this is so important because it's easy to say number one find a way to create disposable income all right genius that's just common sense but nobody ever actually gives you these steps okay so if i can create margin how do i actually create wealth we've given it to you we actually have created the what to do with your next dollar it is the financial order of operations and what i like is if you will follow this it's going to help you avoid the big pitfalls because i think a lot of people we hear about the latte effect and you can't you know watch out for your subscriptions and watch out for you know how often you're getting coffee and all the other things are eating out and those things are true because you do want to have a disciplined lifestyle but it's not the thousand paper cuts that takes you out it's a lot of the lifestyle decisions you know of like the cars the houses and by the way i love we had one of our our listeners viewers post this on twitter or is this actually a youtube comment this looks like it is on youtube yeah from kirk but look at look at what kurt says here because i thought i loved the part that we highlighted yeah he says i'm far from perfect financially but i fall prey to the thousand cuts or thousand paper cuts like the latte effect rather than the headman's ass acts of decisions like the cars the big financial decisions those big swings are easy to see coming and you only have to dodge them a dozen times or so over the course of your life yeah so that's why if you'll use the financial order of operations you'll not only avoid the missteps of like buying two nights of a car too early buying a house that you can't afford but you'll also maximize the investment side because that is the game take your income create margin that's step one step two is maximize what you're doing with the investments so that you can grow this so you get to do life on your terms all right and step three now we're getting to the investing invest in low cost and tax efficient investments yeah this is once again we're making this easy for you guys you know step one we told you go create income with margin so you can then invest or know what to do with your next hour whether it's paying down debt that's the financial order of operations but then when it gets to investing because people say how do i make my money work so hard for me that seems complicated there's entire industries that are trying to create scrambled eggs in your head to essentially sell you something we tell you cut all the noise start investing in a low cost and we like index target retirement funds because index funds whoop up on all the managers and we even have the proof and the facts to show this here's how often index funds beat active managed actively managed accounts if you look at large cap mid cap small cap international over well over 80 almost 90 percent of the time the index funds are coming out on top and that's really good news for a normal investor just like you or me because that means we have access to something that's actually going to grow our army of dollar bills in a very simple way this is a smart way to get to that one million dollars i love it this makes sense i mean think about it you're asking why how many how if you look at this on a 15-year period long term how are these things able to to beat the active managers you know consistently 80 plus percent of the time and the reason is the internal expenses are practically free i mean these things are as close to free as you can be they're also extremely tax efficient because they just don't have as much turnover as active managers are trying to make the best decisions out there and they they screw it up a lot of times and then what i love is kind of the third benefit it's buying into the markets i mean any type of innovation any type of growth as the pizza pie of our economy is getting bigger you are participating in that so take advantage of this this is what i'm telling you go look at the index target retirement funds look at the s p 500 look at the total market index those are great places to start your investment research a few years ago when i was starting my investing journey this was music to my ears because i wasn't up on all of the flashy big investments i wasn't prepared to go pick stocks this was great news for me because it let me just get in immediately i didn't have to have a huge learning curve and then i can learn more as i go and still have that money working for me so this is great news so once you have that money in an index low cost tax efficient investment um don't stop until you hit that one million dollars keep investing keep dollar cost averaging every month every so often put your money in and then keep going because not only can you get to that one million dollars you can actually even go beyond it yeah i think this is one of those look when you see a million dollars right there even though there's a lot of trolls that are saying that it's not as much money as it used to be it's still a lot of money and i know that this is aspirational in a lot of ways but but the reality is is that it's not going to come all at once if you just start this behavior of automatically building wealth saving doing the financial order of operations using those index funds i think you're gonna find that this builds you'll first build ten thousand dollars and then when you make you know ten percent on ten thousand like oh that's pretty cool you know that's think of making a thousand dollars and then when it crosses a hundred thousand dollars you're like whoa now when it replaces you know ten percent on a hundred thousand dollars is ten thousand dollars so that's that's like man that's like three months worth of living expenses i just replaced with my army of dollars and then as you can imagine if you can just be consistent no matter what's going on always be buying you're going to find one day you wake up your portfolio's crossed seven figures and now your money is working just as hard as you but we want to go beyond this ruby we didn't want to stop with just this aspirational saying you're trying to get to a million dollars and beyond we actually want to show you what does this look like starting from zero yeah how long does this actually take to get to a million dollars if you're starting from zero today and you just invest 500 per month and we're gonna assume you're earning about eight percent annually so that's kind of the assumption there but still look 500 a month you can get to a million dollars in less than 34 years which actually when you think about starting when you're kind of young like in your 20s to the time you might want to retire that's plenty of time and then also if you just kick it up a notch and do a thousand dollars that's only 25 and a half years if you do 2 000 a month you're getting down into 18 or 19 years so just think about if you could leverage this concept and see how much you can invest and it might not take you as long as you think to get there and then you're looking at being a millionaire or multi-millionaire and that's fantastic and by the way it's not all or nothing we did this for an educational piece to show 500 versus 5 000 or even 10 000 a month and how fast but the reality is is you're gonna do some hybrid of this you might in your twenties be doing get you know aspiring to get to five hundred dollars a month but it does it's not gonna surprise you that as you get to your late thirties maybe you are doing two thousand dollars a month and maybe in your 40s you're doing 5 000 a month it's going to be a combination and by the way here's what i love about wealth building i always and this is why i try to convince young people start as soon as possible because i just need you to catch the bug of bugs right now you know after coming through a pandemic probably not the greatest analogy but still hear me out on this if you can catch the bug of the fact that your money starts working for you meaning you put a thousand dollars a month in and then one day you look up and you say wow that thing really did replace four months of what it would take for me to work with my back my hands my brain this is really something i'm going to see if i can accelerate this because it is possible even for people who are starting later maybe you're in your 40s we show here if you're saving 10 000 a month you will be a millionaire in a little over five years at 6.4 years even with a very modest eight percent annual rate of return you can do this yeah and you know um the great thing is that we have resources for you even about this like brian said this was just a case study to kind of get the concept out there but if you go to moneyguy.com resources and get our wealth multiplier it's free it's going to tell you how powerful your dollars are right now so you can actually take hey i can invest this much money and then multiply it by your age your specific age it's going to tell you how much that has the potential to grow and so i highly recommend going to moneyguy.com resources and grabbing that because that is a huge awesome resource for you okay last but not least step five you're gonna reach the point where you can trade your money for time and i know you get really excited about this part yeah this is this is the thing that um i feel like so much of the social media world is trying to yolo everybody telling you hey live your best young version because when you're older and they always use like an example of like when you're 65 and 75 you'll be lame and not be able to do stuff by the way that's probably not true based upon life expectancy life expectancies plus how active people are because of health breakthroughs and so forth the reality is though if you can do this right you get to live your life your best financial life on your terms you do what you want when you want how you want and this is one of those things i love if you can balance out we talked about we read this whole twitter string of razors decision razors out there and i loved one that said make sure that your 80 year old self loves your decisions just as much as your 20 year old self because that's the balance between the yolo of the 20 year old versus the 80 year old that wants to give you the big sloppy kiss and bear hug because they're so happy with it is that look i'm about to go on vacation taking the family we're going over to paris because my oldest daughter graduated from high school and um i didn't have to wait until i was 65 to do that and that's why i'm telling you deferred gratification is a powerful thing where if you can do this you don't have to quit work you just get to make decisions on your terms because you have now passed the threshold of you're not working so that you can have the money to pay the bills you are working because you're fulfilled because you and you also have the capability now to trade a little bit of that money that you've been building over these decades and it's been compounding to do your time on your terms and there is nothing more fulfilling because guess here's the other thing i found the wealthier i've gotten because my my compounding of my armies has worked i actually get to do things i'm passionate about i get to go after things that maybe aren't the best financial decision but what i'm always surprised by is the unintended benefit that typically happens when i pursue something that i'm passionate about not even for the money but it tends somehow turns into a very fruitful endeavor and i think that clarity that you get from pursuing your passion because you make great decisions in your 20s and 30s is something that is truly priceless yeah you give me a lot of inspiration because you're saying hey my 20s and even in my 30s i buckled down i had this strategy i invested you know essentially you followed these five steps and now you're able to like make this memory with your daughter before she goes off to college and i think that's really awesome you're able to let your foot off the gas as you say and so it does pay off i do think it's important though because we i just talked and that was because we're we're very i love that we give the meat i mean we actually give the details on data points and so forth and i felt like what i just shared was very aspirational fortunately we have a tool that brings it all together that turns the dream you know so you're just not a dreamer actually let you see analytically how are you doing in all this yeah this is our net worth tool and there's a whole dashboard it's going to show you exactly where your money has been in the past where you're headed in the future and where you are right now on your path to get there in one little section this is just one section on a full dashboard it's going to show you how powerful your army of dollars actually is you can see just how much you invested and just how much that money has grown on its own and it's actually working for you and once that you get to you can see on this um example on the screen it's at like 54 once you get to 100 brian you were telling me that's kind of like a little bit of a magical moment or milestone right yeah i mean what you're trying to do and look even if you don't have our tool i want you to think about this in terms of when you look at your annual net worth statement i mean you better be doing that in keeping track of what's going on if you can compare the change in the value of your investments and then compare that to what you make in income it's going to that's what this that's what we're actually showing you here is what are you replacing and you're right once you get to 50 that's showing wow half the year was kind of covered by what my money did for me once it crosses a hundred percent that might be the first clue hey maybe i want to go stress test this thing i might be financially independent doing life on my terms just make sure you are doing all the work to maximize your potential and also this gives you like i said the freedom to live your best financial life and actually pursue the things that make you feel fulfilled and excited to wake up in the morning so if you're interested in a progress tracker like this it's going to help you know kind of where you are financially just head to learn.moneyguy.com you can buy the money guy net worth tool right there um it's been really cool to see the feedback on it so far lots of people tracking their financial growth and we love to see it so that's how you get to a million dollars not necessarily how the tick tockers tell you to do it but it is still simple and you can definitely do it and then keep going are you ready to go to some questions brian yeah for you know first i don't mind sharing if y'all wondering what happened to bo that's true because i'm worried he might watch in and go what happened to bo cause we kind of just whoo we jumped right in that thing bo's at the beach with the fans i mean he has even bo has to take you know some time off every now and then yeah so i love it he's you know if you're down in daytona beach you know driving on the beach and you look over the right and see a bunch of kids and um you know and hanging out on the beach is probably bo and his family i mean i much prefer when you're both here that makes the most fun best show but second best is the honor of sitting at the desk with the money guy brian price so let's do both proud and answered some questions you're doing awesome reeves all right i do have a question out here from justin he says my wife and i just bought a home we are both in our 30s and have a 5.5 rate she wants to pay off the house yesterday right how can i help persuade her to prioritize saving for the future and how do they make that decision brian how much should they be putting down on this house versus how much should they be investing so would you say five and a half percent yes okay and they're in their 30s did justin give us what their savings or slash investment rates so you should probably want to hit on that because that's going to be yeah i mean this is one of those things i still justin it's you look five and a half is more than it's historically been in the past but also i i take into account with where are you at in your financial order of operations i want you to you know go look at the steps you know if i guess go to moneyguy.com resources you can also download our free deliverable apply that to your life see where you are and it is one of those things because i am more worried for somebody in their 30s that you are there's a risk that you won't be wealthy and independent in the future whereas once you get to around 45 and you've done all the right things you're now at risk of how do you keep the wealth that you built over the years but that's not for the majority of the people majority of people never did went through the wealth building process in their 20s and 30s where they even have to worry about that crossover point so my worry for you justin is if you're focusing on paying off that mortgage which is step nine of the financial order operations before you're doing the roth before you're doing your 401ks even before you're you know get building up the emergency reserves just in case you have a hiccup that that causes you not to be able to pay your bills as well you're going to be so thankful that you followed that process before you paid off that that and it's it cringes me up to say low you know interest on mortgages but still i think five and a half historically is not the craziest thing because my first house was 6.75 and i thought i stole it because rates had just gone through it was like seven and a half percent a few months earlier i think we're coming back to a more historical norm in the fours and fives so that's not what i would consider high interest yet so it is one of those things i think you balance it out and still process and go through the full financial order of operations yeah and you know again uh these are all free for you what i'm about to say that's why i just feel like i have to mention it again because this is a great place to pull out that wealth multiplier again if you go to moneyguy.com resources you can show your wife and um actually make it a conversation like you want her to feel like she's part of this decision you don't want to just make all the financial decisions right and so you can actually show her like hey here's why i'm thinking maybe we want to do this differently look how much our money can make now while we're in our 30s versus you know once maybe we've had this house more paid off and so you can just actually have an informed conversation and bring her along with you and you know maybe introduce her to something that she hasn't thought of before and that's a really beautiful thing i i do have one little thing because i feel like since beau's not here we'll we'll give the ghost of beau a little bit because this is something he's always nudging me on and i think somebody who's in their 30s like justin and his spouse are this this could be a really valuable tool and a fun exercise for them why don't you do because look the market's gotten its teeth kicked in we're actually in a a bear market right now so you you know when you're the markets are down your contrarian spidey senses should be going off and you can say hey is this a wealth building opportunity in the long term why not assuming you've already maxed out your roth accounts and so forth you know going still respecting the financial order of operations but if you are at that point of step seven hyper accumulation why not instead of what you would pay off that mortgage with set up that investment account like bo always talks about that brokerage account between you and your spouse start dollar cost averaging every month into an index fund or something that would do well with the market that we're experiencing with the volatility and look at this in three to five years and then ask yourself do we want to take this money to pay off pay down the mortgage or do we want to keep on our wealth building journey it could be a really cool exercise for you and your significant other to kind of do a challenge here of what's the best path i think i know where things are going to fall in the long term but it will still be a great learning exercise for you i love it and beau would be proud all right let's move on to ratty's question righty says i was on track until the market tanked brian even saving 25 i'm still negative for the year how long does it usually take to recover from a recession this is kind of a interesting time for a lot of people so i think that this is a good thing to speak to right now yeah i think a lot of people are probably feeling this way i even got a text from a client last night saying hey um about time we have a meeting to kind of you know just talk about strategy figure things out i just want to make sure we're still on track yeah i looked at my roth the other day i hadn't in a while and i was like okay yeah i mean it just kind of feels good that's why i always first first lesson here when we if you're young enough that this is your first true downturn because really the last time we now look you could say the pandemic but that was such a fast turnaround recovery when the market lost that 35 if you if you blinked or took a nap you you kind of didn't didn't feel that completely this one seems a little more prolonged more like what we experienced historically when you had like the great recession of 2008 so i always tell people bank up how you're feeling right now because this is the type of skill set if you can learn how to harness how you react emotionally and then apply that to your analytics and your financial life you this is worth its weight in gold this is experience that will create value in your life but you're trying to figure out how long does this take to recover and remember we talk about markets if you need a visual if you're a visual learner you are walking up a big mountain a huge mountain that you're never going to get to the top of with a yoyo so you're going up and down up and down but over the long term you're going to higher and higher ground but that that sounds great when you're not experiencing a bear market but a lot of you are like okay i hear that that's why i stayed the course but now i've watched my portfolio drop 20 percent how long is this going to take to fix we know look when you lose 20 percent mathematically you have to make 25 to get it back but this is why we diversify because if you lose 50 it takes a hundred percent to make that back so mathematics is the you know the more you lose the harder it is to come back from so this is why we spread our assets out to get diversification the power of that because you hopefully can recover faster because markets do fortunately recover in a very fast way it's called a v-shaped recovery and we know from some we don't have this this is where eventually we're gonna have the ability to whip stuff up on the screen when we do these live q and a's but i know these fortunately i know this from just covering this so much is that when we hit the bottom of this bear market nobody knows when that is yet but when we do hit that very bottom day it will happen just like it happened in march of 2009 was that nobody knew that hey that day i think it was like march 8th or 9th nobody knew that was the bottom day just like in november of 2002 nobody knew that was the bottom trading day but here's what we do know if you look at this within the first year historically the market makes and recovers 40 percent of of the down losses yeah i mean it's a 40 return from the bottom and by the way the first month is like 15 historically so this is one of the things why you can't time it is because it will turn really quick and in our own research of watching clients and other things depending upon your asset allocation how much risk you're taking but typically our clients have recovered if we looked at past downturns they had recovered within two to three years so it's a meaning they would have recovered all the money was lost and we're back to making more and it could be as fast as 1.7 years it really depends upon how much you lost on the downside did you stay the course and then were you piling money into this meaning that you felt like you were facing volatility but you'd always be buying into this process can actually really cut the edge off of how much it's hurting you yeah so take advantage of those tools to like look at the scary downturn and think oh maybe i should hold off uh my investing right now and it's actually the opposite especially for people who are younger or earlier on their journey so that was a really good experience yeah i mean i always tell the contrary inside of me now this is not a perfect thing but it's something just to keep in the back of your mind what feels safe in the long term can be risky what feels risky in the long term might actually be safe for your long-term wealth building journey pay attention to those things because these are like i said downturns is it's really hardening the steel of your resolve on your wealth building journey yeah thanks so much for your question roddy that was a good one i know it's a weird time so hopefully that kind of helps you feel more certain about where you are in your financial journey okay question from ryan he says i am 26 years old and i just quit my job but i already have another one lined up what should i do with my old employer 401k i have contributed to a roth 401k but now am i able to move this to my roth ira or is there another option brian what should he do yeah i mean it's um this is a good question by the way what does create a little bit of uniqueness here is that it's a roth element versus a traditional savings because you know roth grows tax-free which is always really powerful first thing i always look at is i say you have several options here you can leave it where you are you don't have to take the money once the money is over i think these numbers still hold up i'd have to see if they've been indexed but i think it's around five thousand dollars once your account value is over five thousand your your employer your pass employer can't just kick you out and write you a check because that is if your account's just a thousand bucks or so you do have to be very careful that they don't just cash you out you get the penalty and all the other things that come with it so but i think assuming that ryan has over you know a few thousand bucks in this thing he's gonna have the option first to stay stay put and why would you do that you might want to stay put if you have like a big provider like say a vanguard a fidelity a charles schwab somebody who's already low cost has great diversification options you could just stay where you are now there's a downside to that and the fact that what if you don't like dealing with your former employer's hr department you know because yeah you do have some strings attached to a former life now and maybe you just that's too much to overcome but you know i'll leave it to you those two the pluses and minuses but just also know you have the option you could roll it into an ra as you mentioned and what i like about iras is that you do control where you keep it like if you if you wanted to go take advantage of those three big custodians that are low-cost historically like the schwabs the fidelities and the vanguards you could then roll that money into a roth ira you're completely independent of your employer and that's good and then you have control of you know if you need to do any unique things with this you you have all the ability to do things with um and then the third option is you roll into your new employer maybe that's where you come from a very expensive employer um you know where it's like an insurance provider or some sub-account structure where it's really expensive when you look at all the fees that you're being subjected to but now you're going to a big company that has access to that fidelity schwab or vanguard type 401k if you want to keep your life simple because you know an ira because you grab your 401k with your new employer if you rolled it into a roth ira you have a separate ra that you're now disclosing on your annual taxes and stuff you could keep your life really simple just roll it into the new 401k provider assuming it's one of these low costs it's really on you i think that but you make sure you don't skip the step of the due diligence of figuring out hey what do i actually pay for my plan how good are the investment options within my plan meaning that do i have access to index funds do i have access to different asset classes because that's the problem i see with a lot of 401ks they just have access to bonds large cap stocks and that's where it stops whereas maybe you want some international maybe you want some real estate maybe you want some small company stocks and index funds in there all these things go into your decision decision-making matrix and then if you'll go through this step i think you'll end up in a really good place yeah i love it and then it goes without saying make sure you're jumping right on that new employer 401k match too if you have that so thanks so much for your question ryan that was great okay we have a question from houston he says my wife and i are in our late 20s and saving about 35 which is fantastic we have not maxed out our 401k or 403b accounts but with our current savings rate should we move on to step seven of the financial order of operations step seven is that hyper accumulation phase where you get some more complexity in your investing what should they do well actually they might houston might already be there with with his significant other and his spouse and the fact that because let me a little story time here we were speaking to this engineering group there was this um really fascinating company that we got hired to come in and talk to is all engineers they deal with like structural concrete and all the people were just brilliant you could just tell these are top of the class type people and this company was big enough that they actually not only they have like a planning retreat like a state of the union type thing where they have all their new employees meaning employees that are only been there for a year or two they not only try to give you good educational things in their industry but they try to bring in speakers like us to talk about you know how to manage your money as you build wealth and do that well i i thought it was a really great 360 approach um that employers ought to copy yeah and use because it's really noble to not only help people have a successful career track but also make sure they maximize their opportunities but i will never forget we're talking about the financial order of operations and if you realize this is one of things we put in our course if you go to learn.moneyguy.com we actually have a deep dive course to make sure we clarify this point but it was an engineer she raised her hand and um she goes hey um it seems really cruel and kind of selfish that i'm saving all this money if i'm saving 35 40 percent i'm not even funding my kids college what am i doing here and i was like no no no we need to clarify this and i think this is where houston him and his spouse are already saving greater than 35 percent but yet they think they're stuck at step six because they haven't maxed out their 401k max 401k is doing a lot that language of max your 401k is doing a lot of heavy lifting because it could have several different meanings when i hear max 401k and i think this is the problem houston is having he's hearing 20 500 for him and maybe 20 500 for their spouse but that's not i mean if you think about in terms of financial order of operations our aspirational goal for you is to get you to 25 of your gross income working for you through a savings rate of 25 percent so there's a chance because we did an example i think in the course where if you make your household makes less than eighty thousand dollars a year there's a chance you could be saving and investing 25 of your income and you're not going to reach the twenty thousand five hundred yeah so then what do you do does that mean you you can't great no that means you can definitely go to step seven hyper accumulation which that whole purpose of hyper accumulation is where you're now starting to think about hey i don't wanna make sure that i'm not saving only in retirement assets because at some point i'd like to be able to pay cash for cars i'd like to make sure i have liquidity in case you know some uncertain thing comes my way or i want to have take advantage of an investment opportunity of buying real estate or you know or doing something else like that i need to have different structures i need to have after tax money i need to have tax deferred like your employer matching your traditional 401k i need to have tax free which is your roth so that's why we say once you're saving 25 of your gross income you can graduate from step six even if you haven't reached the maximum the annual limit that the government allows of 20 500 i'm even going to say you can graduate past step seven if you're saving 25 percent and you've gone through the efforts of looking to make sure you have the bridge account meaning the after tax you've maximized the structure the structure between tax free and tax deferred to step eight so just in case houston has children or they have other goals they want to be saving for you can start doing these things because you've already kind of paid yourself first and that's the most important thing is you have the behavior that creates success and wealth of paying yourself first yeah that's a beautiful thing um that was a fantastic question houston and if you're watching this and you're thinking okay this is step seven what are these steps these are our nine tried and true steps called the financial order of operations gonna help you maximize the money that you have and know exactly what to do with your next dollar and if you want a deep dive like brian just mentioned we have a whole course in which he kind of actually breaks that down even further about how to know when to move to which step and how to customize it for your situation you can go to learn.moneyguide.com and sign up for that course you get all the video content all the homework content you also get access to our facebook group where there's a bunch of other financial mutants in there discussing you know how to figure this out for their own life all these financial questions people are you know sharing stories sharing how they do it it's a really great place to expand upon this knowledge as well so learn.moneyguy.com if you're interested in that okay the sorrow 312 has a question if you have all retirement accounts fully maxed and are allocating all other disposable income towards accumulating rental properties as a strategy do you think that that's a reasonable strategy so retirement accounts are fully maxed now he's looking at the rest of his disposable income thinking i think i'm going to go rental property and throw it all there i love this question because it actually now look i know when this gets broken into a highlight clip you're not going to see the previous question that was done here but it does kind of relate to this is that i love when people are going through the financial order of operations and i know this sounds repetitive but like i said it's going to be a highlight go to moneyguy.com resources you can download the free non-step deliverable if you want the deep diving go to learn.moneyguy.com and we actually can give you a deep dive on it but it's not uncommon that a lot of people successful achievers will save and maximize the financial operations and then get in their late 20s 30s maybe even early 40s and realize i've got a lot of retirement assets but i don't have a lot of liquid assets why do i need to have liquid assets and this is why we have the graduation point from step six which is max out retirement accounts to step seven which is hyper accumulation remember the trigger point there is that you're actually saving and investing 25 percent of your gross income but the reason we have the hyper accumulation step of step seven is that it is the realization that man there is more to life than all just retirement assets all the time and that's what especially because he's already let it be clear he's hoping to get into rental property we love real estate i mean bo and i have shared we have eight figure real estate investments ourselves that we help administer but you have to do it at the right time right place because real estate is great because the tax benefits it's also the leverage growth opportunity however it is really expensive when the tide goes out meaning if we hit this downturn market real estate values are struggle renters start tearing up your houses and there's a lot of turnover it's very far from passive at that point and you better have deep pockets to get you through the storm that comes your way with real estate so what we've built into the financial order of operations is is where you have done the 25 maxing out retirement you can go to hyper accumulation and anybody who's thinking about doing real estate make sure you've built that bridge account of after tax bucket of money so that you can have your liquidity to where no matter what comes your way in the real estate marketplace you will be okay that you will come out on the other side and maybe even have some opportunities to pick up deals and other things when everybody else is swimming naked with no cash and no liquidity that's when real opportunity happens is when you make your money on real estate when you purchase real estate actually and a lot of times because if you can get a really good valuation and that's a little harder right now with the huge run-up we've had in prices and that's why real estate investing typically is step eight of the financial order of operations because it's after you've gone through maxing out retirement it's after you've looked at the three buckets between the after tax the tax deferred and then the tax free you have a good bridge account there with enough liquidity to go to step eight which is the prepaid future expenses that's what i like people to do real estate investing because that way you really are living your best life because you've got the foundation of financial assets underneath you so that if the if things get ugly out there in the financial world because i've shared this and i think it's important bad stuff are they're all extroverts they all love hanging out with others so you'll have downturns in the real estate marketplace the same times unemployment spiking same time the financial markets will be down 20 they all hang out together and you just want to make sure that you have enough liquidity to get you to the other side you know there's so much buzz about real estate like this is what's gonna make you a million if you have money you need to go throw it in real estate that's especially out there like on tick tock and youtube there's people that are saying that and i think sometimes we will react to those things and say like whoa whoa look at the financial order of operations but what i love about you guys it's not that you don't like real estate and like we're very clear about that it's that you want people to do it the right way you don't want them to um get caught like you say the saying with uh when the tide goes out yeah you don't be caught naked yeah you know you're skinny dip in without the the foundation look there's a lot of people got lucky i mean there is the most punchable person in the world that i watch on social media sometimes and he's telling everybody how to get rich in real estate and other things and i'm like it isn't so there's enough truth there that that it gets you intrigued but as you see them riding around their rolls-royce and their private planes and stuff i'm like yeah but he's not telling them the real path i mean you get to this point but it's there's there's a few steps here that are are left out he's selling all aspiration he's not selling the actual manual to get to where they are and that's what we're trying to be that bridge if you watch our content will not only help you build it from zero up to the point by doing it the right way with a foundation but you'll then have that point when you see those people in those videos you'll know the strategies you'll be like oh yeah that's just kind of confirms what brian and bo and rieby shared with me right right that's why i love the nine steps of the foo because it's not meant to like restrict you it's meant to set you up for success so you can do those kinds of things that you want to like a rental property or real estate property so hopefully that really helped you out um the sorrow three two one thanks so much for your question i've got another question from rishi the question is i've made my budget taking care of the insurances and put monthly money monthly in mfs what now it's kind of boring to just put money and forget i want something to put effort into i think that this is an interesting question because we just went um we did a q a just now talking about how great it is with like low cost index funds like all those kinds of investment target date retirement funds like oh it's so easy it's so set it and forget it but then there are these people out here who have this personality who are like doers and achievers and who want more what would you say to those people yeah there's several things that just all piles in you know and i'm trying to make sure i stay that keep this focused but i think to start it off i'll say don't get busy doing nothing i think sometimes achievers we feel like we build these checklists in our heads and we have to go through these things as fast as possible because if you if you're if you're sitting and letting grass grow under your feet you're just missing out on all kind of opportunities so let me tell you the way i would handle this first get the foundation right that really is the financial order of operations that's step one through nine everybody probably could almost lip sync knowing i was going to put that out there with moneyguy.com but but it really is because and it sounds like you know rishi really did kind of lay it out with budget hey that's great because that's going to get you through steps one through four you know make sure you don't have any high high interest debt make sure you don't have you know you got your emergency reserves through the rainy day fund set up the insurance i love that once again it's paying a lot of respect to risk management um and then mutual funds investing that's the automatic wealth building now look appreciate when you get to the point that you're in hyper accumulation mode and that's where you're looking at step seven where you've got the three bucket strategy you can then i have no problem and this is what i like once you get to 25 of your gross income that is working for you in the boring stuff as you put it the mutual funds the etfs and those type of things it's automatic for the people wealth building where you're kind of automatically through an automations i say how many times can i say automatic on automation but it really is it shows how important it is to put you make your money just it's powerful without you doing any behavior without you making any decision matrix it's just always be buying that is just set up for you so you can get to step eight of the financial order of operations which is then hey now what do i what do i envision what's my am i doing the why am i am i do i have this desire i'm gonna start you know for i'll just make it internal blogging youtube you know or do i want to go side hustle or don't want to go pursue this passion for this charity i mean this is why i love if you can build the foundation you don't have to get busy doing nothing but it's also not so crazy that you're you're scheming in a way it really lets you kind of self-internalize and actualize yourself look at you what makes you tick what brings you happiness and then fine-tune it for that not off of what some influencer puts out there with their rolexes and their their rolls royces it could be very custom to you and that's the way i would do it is is make sure and prioritize get into step eight yeah i really like that i hope that kind of gives you some food for thought thank you so much for your question rishi okay got a question from nate he says i have an eight-year-old with down syndrome how do i start saving for my daughter since she has this unique circumstance any other financial advice for um parents who have kids with special needs or special circumstances yeah look i i wish we could do even more content on this but it's just um it's so specialized it is one of those things but fortunately you come to the right place because i i've shared with you guys my youngest is autistic um we we know when you have a child like this you know that it does come with the extra weight of not only do you have your retirement but you have their independence money because there's a chance that there's a good chance i mean we all die at some point i don't know how else to say it so you better plan accordingly so you need to have money so what's the right way and there's a delicate balance with this is because if you just start piling money into a brokerage account because there's always this this decision matrix that comes when they're become adult status can they qualify for social security or some benefits from from the the government to help with basic expenses and it's important to at least pay respect to that based upon where you are in your financial strategy and and i love that just like i mean it's it's been decades now the government kind of said hey let's incentivize something we think is important for society and years ago decades ago i was about to say years decades ago they set up 529 plans for college savings and i think that really did revolutionize that's one of the positive things the government has done in education that didn't cause all kind of other ripple effects but i love what 529's did and then i think that went so well that that the the community of people who have kids that are either alternative learners or have some type of of special needs condition they said hey why don't we do the same structure as these 529s but make it where this money is exempt from the calculation up to a certain level you know from all the social security calculations and so forth and they came up with what's called able accounts um and there's a great website i don't know if daniel you could probably or nate y'all could because y'all are have your computers there i want to make sure i give that website right but there's a great um website that gives you anything and everything you want to know about able accounts if you do a quick google search let me see what you able nrc yeah that's it that's actually it's about rc.org um daniel will probably throw it in the chat for you too but yeah you referenced that before if you will go check out that website it will um help you out tremendously because it is like we're for not every state has maybe they i know that's something that they're working on because this is a concept that's you know still trying to get traction but fortunately i know in my journey the state of tennessee has a really good plan and we've been maximizing that so i would tell nate to um you know first go take advantage of this and then you know look i always my sweet girl you know it's one of those things where i know the weight of having a child like this is hard so just make sure you plug into the the community and i know you didn't ask that stuff but that's that's part of what i love about like my daughter's school all the parents all have unique learning kids and unique kids that have some type of condition and it's really good to have community in this stuff because it's it's tough so i hopefully nate that helps you to know that there are tools to help you on that before you graduate to the expensive or complicated special needs trust yeah we really appreciate you asking that question i know there's always these kind of nuanced or unique circumstances and so i love that we're able to speak to that from time to time as well so thanks so much for your question nate hopefully that helps and kind of gives you some food for thought okay we've got a question from louis he says i have a question related to the financial order of operation steps should you skip maxing out your 401k and instead fund your taxable brokerage account to save on paying ordinary income taxes we got some fancy footwork happening here to save on ordering skip to save on ordinary income taxes through after tax account so should you skip maxing out 401k and instead fund your taxable brokerage account to save on paying ordinary income taxes oh he's talking about when you actually pull the money out yeah okay i i see it okay um lewis you got got a lot of moving parts there um here's the thing i i would i would when you pull money out i don't know how old lewis is but that's going to be in retirement i mean realistically these are retirement accounts the title is not um a bait and switch it really is hopefully if we use for retirement and there is a goal um that i tell people especially if you're planning on leaving before 72 which is most people most people do retire before 72 is and that's the required minimum distribution age is that you're hoping that when in retirement that time between the date you leave the workforce before you reach age 72 that your income taxes actually or at least your tax rate goes down because you're in your peak earning years in your 40s and 50s and you're paying the highest tax rates on that ordinary income you're kind of hopeful that when you're retiring you start living off this money especially if you have the three bucket strategy meaning you have after that's in step seven of hyper accumulation you have your after tax you have your tax deferred and then you have your your roth accounts which are growing tax free that you can kind of legally manipulate the tax code to lower and minimize it because if you you know some years if your tax if your income is really low from all sources you pull it out of that tax deferred account and you know and just take advantage of the low tax rates uh that our our tax code has if you're in a maybe you had income coming in and you want to try to minimize or you want to do some roth conversions or something like that where you turn tax deferred into tax-free you can live off of your after tax account to kind of create a bridge so i don't mind if you're doing 25 of your savings and you've gone through steps one through six you can then graduate to step seven which is hyper accumulation but if you're in a higher income situation and you you're you have the opportunity to max out that retirement account you're not doing so you can just get to maxing out just so you can avoid because you're thinking about ordinary income tax in retirement that seems a little out of place to me if it feels like you've created a worry about something that may or may not now look i think taxes very well go up in the long term because the government has a lot of responsibilities and obligations that they're going to have to pay for but i also know even when i have that certainty i also know that politicians are really scared of older people because they they vote in mass so they typically create tax policy that favors people who fall into those strategies i hate to be so cynical about this but it's just the reality and it's not even political i think you know nobody's going to get mad left or right when you say look older people do vote and the tax policy typically reflects that so i think that there is a good even with tax rates going up there's a good chance that retirees or people living off of their investments will have some some really cool planning structures so to miss out on that because you're worried about ordinary income tax rates it seems a little premature yeah thanks so much for your question lewis hopefully that kind of sheds a little bit of light on kind of a complex topic but we really appreciate you being here all right ashley has a question she says we are just over the roth ira income limit we can do a roth 401k as well so which is better should she do a backdoor roth over the roth 401k how does she make this call well if she because ashley's kind of told on herself she said she's in a higher income situation because you make over the raw funding that's why i do love the backdoor roth opportunity is because it allows you to do both i mean i i i feel a little you know guilty when i tell people hey maximize both opportunities when i'm looking at the financial order of operations if you're a person that's in a higher income situation which it sounds like and i don't know if ashley's single or married but if you're married i mean it's close to 200 000 a year of income coming in i want you to have both because i i really do want you to have the best version of your financial self so that when you retire you're doing things or you have the option to retire or do life or pursue a different passion when you want how you want that's really valuable so i don't think it has to be an either or i'm a little harder on higher income people because i think you have more potential and you know just like a good coach is going to squeeze people they see potential out of so i want to i want to encourage you to try to take advantage of doing the roth ira if you can do backdoor roth conversion strategies but then when you get to step six now that's a little deeper on the decision matrix and the fact that you now have to figure out what's your tax rate what's your you know federal tax rate what's your state income tax rate kind of combine those things and then you have to you know compare that to what you think your retirement tax rate will be and and if it's in a higher if you're if you're at the tippity top of the you know say 30 and beyond because you know if you add your state a lot of you might even be paying 40 um income taxes you then then that's going to have you in step six of the financial order of operations saying hey if i'm paying 40 in taxes why don't i put that in the traditional retirement account like a traditional 401k traditional 403b because i think when i retire at 60 or 65 or even 55 there might be an opportunity to do some roth conversions or do some other unique strategies that will that will lower that long-term tax bill yeah and it'd be silly not to mention you know this is kind of getting into one of those more complex decisions um maybe ashley's here maybe she's not yet and that's either way is fine but we do have fantastic financial advisors on staff and you do reach a graduation point where your situation just gets so complex that you're no longer making these like 1 000 mistakes they're 10 000 and multi even more thousands of dollars could be at risk if you kind of make the wrong call and you might be getting to the point where you want to stress test these retirement plans right like brian's talking about tax rates and federal rates and all of these things um and if you're kind of like oh shoot i'm not sure where i'm at and this is getting complicated and i don't have the time to like figure all this out maybe it's where you start to think okay i might be at the point where i'm taking the relationship to the next level at aboundwealth.com you can reach out fill out a little form it will connect you to one of our fantastic financial associates and advisors and yeah that's i just feel like i should mention that because sometimes these questions get into this complex realm of kind of i'm glad you did bring that up because there was a comment on um it was a comment on youtube this morning i saw i didn't respond to it because i was like well i didn't want to come off semen rude but they're like you just told us to do index funds if we all can do index funds and you even talk about how good index funds are why would anybody hire you guys and i'm always like man they think that financial planning is just the investment partner in a lot of ways investment part has become commoditized i mean index funds i love that technology and innovation has made it where everybody has access to world-class products and the growing economy that we live in but that's not what a financial planner should do if you if that's what your person or the institution that's charging you fees is doing is just a good asset allocation of index funds is that financial planning or is that just asset management for you and that's the difference because think about when you get to a level complexity that's why we can give it away is that you will you first of all you'll want somebody looking at the tax return to make sure hey did you take advantage of all the opportunities that were out there because that's an annual planning opportunity they're looking at hey what's going on on your network statement what changed in the last year and then when you actually lead the workforce and start living off of the assets there's a lot of moving parts with roth conversions how does your income impact social security decision making medicare decision making because they all those premiums are tied to your income there's a lot of heavy lifting that goes on and then a lot of people who are five years from retirement are probably saying because now you've built up seven figures plus you're like am i even prepared if this thing goes down you know the mark if we hit a bear market in my first year of retirement what does that mean have i done the stress test you mentioned that and i wanted to echo that that's what we do and that's that's the part that i think a lot of people just don't they don't know what a real financial planner is because they and maybe it's that's the the fault of our industry for being a bunch of salespeople yeah there are some bad ones that say they're maximize their best financial life exactly yeah so ashley thanks for your question i hope that that kind of shed some light on this decision and if you are sitting here thinking maybe i am that person that should take it to the next level um just go to aboundwealth.com we'd love to talk to you just see where you're at if this is a good fit we'd love to talk to you about that okay um postman has a question he says does it make sense to slow down investing to pay cash for grad school currently investing 25 percent it would need to take out about 30k in loans he's 27 and he definitely considers himself a financial mutant so how should he approach grad school okay there was a lot of i want to make sure so totally so how old did postman say he was he's 27 27 grad school grad school would love to pay cash for it cash he's investing 25 percent which is great wow that's amazing yeah so he's already investing financially yes but he would need to take out about 30 000 in loans um if he continues i mean i'm kind of inferring if he continues to invest that much well first let's do the low-lying fruit um because i love jonah who works here at the firm i had a jonah he did an internship last year with us and um he says hey i'm an accounting major should i go back and get that fifth year because you know fifth year required i'd have to go back probably take on some student loan debt but i won't i don't you know that would set me up to sit for the cpa exam or should i just jump right into my financial planning career because jonas jones working here um so i i gave him the credit because i was like let's talk about this so let's does it make sense for you to take on debt for more education because i think a lot of people are at that crossroads and for jonah i was like yeah um hopefully it doesn't mind i'm sharing this i was like yeah i think because you i think you're going to when you go you're going to reach a level of success i i just knowing this guy he's going to have reach a level of success of success i think he's going to look back and say hey i wish i'd been able to sit for the cpa exam pass the cpa exam have that credential in the background um and and so we kind of made that decision but here's what here's the low-lying fruit jonah is actually being a teacher a ta level and it's it's wiping out almo a ton of the cost of education so i i first want to know if postman has gone through the low-lying fruit is there things and behaviors and actions you can do to minimize i've also shared my niece who i also think is awesome i want her to work here too can you tell i'm running my own jobs program um she was an r.a and now i know that's not for a graduate school but i say that not for the postman i say that for somebody else who's trying to figure out how much student loan do i take for education versus the decision of maximizing the opportunity and i'm always saying make sure you're looking at the non-financial decisions that you can do behavior-wise which is if you're in your undergrad maybe you can go be a resident assistant on the dorm hall so that you can get your housing completely free if you're a graduate school maybe you can go be a ta and get a lot of your tuition wiped out take advantage of those things first now then we can pivot to okay now that we've minimized this down to we've got it to the smallest impact of what the cost is as possible i think there is nothing wrong if you know if postman wants to figure out how he can because he's already doing 25 so what i'm trying to figure out is that means that's based on income and his income might be going down i would um postman i would focus on making sure you're at least doing your roth ira because the government limits how much you can put in that each year six thousand dollars and it'd be a shame if you don't max out that so maybe after beyond that you could then look at the you know how do i minimize the debt because especially student loan debt i'd be curious what the interest rate is with interest rates going up it very well could fall into the category of high interest debt to a degree if if we're getting over six and a half to seven percent um that that i would pay attention to that postman there's a lot of variables there i hope i gave you something to go kind of look at because it really is an individualized answer for you and uh but i would make sure i'm still doing roth um because government won't give you those years that you missed funding those accounts and then i would try to get out of grad school with as low of a student loan impact as possible yeah good good advice thank you so much for your question best of luck in grad school postman and we do have another question here the username is some homeless man just have to give a little disclaimer that's what he wrote but he says money guy i'm 16 and i just started investing in stocks i have a high yield savings account with ally bank and a checking account i'm trying and now i'm trying to make any bit of passive income possible so this is what he's thinking do you have any advice for him 16. he's 16. this is actually very exciting that he's thinking about this already i mean i'm trying to figure out i mean is is he an actor is he an influencer i mean where does 16 year olds go to generate enough money that they have a high yield savings account but they also have an investment account good good for you you won't be a homeless man for for a long time that's right i thought you'd be the best version of yourself financially man at some point i mean it's um so it goes back this is why i love it it's universal it doesn't matter if you're rich you're you're starting out um the financial order of operations so you know if you're living i think this is a 16 year living with your parents so you don't have to worry about you know a lot of the things that you the risk avoidance things your cash reserves is going to be filled up really quick because your your three to six months of living expenses i mean when you live at home with your parents your living expenses are probably next to nothing so just get past the emergency reserves of having a few well i normally say make sure you have thousands of dollars for but you know figure out what your three to six months is living at home and then make sure you're doing the roth um so that's always because he said stocks i'm more concerned about the structure of not the what the investment is i would be more concerned are you getting a roth ira with whatever income you are earning because that tax-free growth with the compounding and then don't you said stocks that's really sexy that's more of a step eight in my ideas of the financial order of operations where you start buying individual stocks because that's extra i would rather you really focus on a index fund when you're 16 where you're buying into the ever-growing economy that we live in you know a total market index or something like that would just crush it in the long term probably especially with all the volatility we're having and that lets you really save yourself a lot of emotional stress of watching that single stock or several stocks go up and down because it is an emotional pull on you for no reason whereas if you're just buying in the broad success of innovation and the total market growing you're going to love it and then you know that gets you to the point eventually you'll be i i just i think you're going to conquer the world it's 16 saving because i already share now look cover up the beer this one dollar fanta for a 20 year old could turn into an 88 88 at retirement fast forward for a 16 year old if you go to moneyguy.com resources we have a money multiplier slot that actually takes it from zero to retirement yeah the young wealth multiplier a 16 year old your money is well over a hundred times growth so every dollar you're making a decision on has the potential to have a hundred fold increase maximize that so you're making you're crushing it so i hope i gave you enough decision matrix there with the financial order of operations make sure you have cash that's always good to have a little cash in your pocket you know make sure you're taking advantage of the roth ira and then don't focus on stocks focus on the behaviors of how much you can save and build into those tax-favored accounts because i think that's what's going to really set you up for long-term success you know you mentioned looking at doing some passive income and finding new income as well and i don't know we just did the um topic portion at the beginning of this full video about how to actually become a millionaire and we shared um a tick talker talking about this crazy way he invested in some crypto and got to a million dollars and it looked really cool and i know there's a lot of passive income out there like that too especially on tick tock people doing all kinds of different businesses some of them are great and legit some of them are not so just beware remember that passive income is very rarely actually passive i would even go on out on a limb and say at least at the beginning even if you find something that there's a lot of work up front and then kind of tapers off just beware of that not everything that people tout as passive income and ways to get rich are actually the right thing and so that's why brian and bo and now myself too just say hey make sure you've got the basics down look at the financial operations look at how exciting your money multiplier is at 16 definitely go grab that resource young money multiplier at moneyguy.com resource it's free um it's going to show you exactly how much your one dollar can turn into by the time you are ready for retirement so um yeah think about these things you know because you're young and you don't want to i get what you're going for and i love that entrepreneurial spirit but like just just beware do it the smart way right i i think people you bring up a great point because we had an earlier question where it says this feels too boring yeah you know just doing and i think a lot of people because really the only passive thing for a young person is like just doing index funds and things because all the things like you mentioned real estate and i'm i'm a real estate investor as well and it's it's far from passive i mean just in the last week and i've shared this like beau has had to do a plunger thing we've had um we've had a problem with one of the drains downstairs in attendance place um we're going we're still negotiating with the roofers about replacing the roof and i know that that's not what he's talking about getting into but i just want to put put a word out there because so many of these influencers are talking about how they make money while they sleep and real estate's great but it's far from passive if you're doing it right i mean i just don't i guess you could talk about reits syndicates but those things are so far out there 16 year old you don't need to be looking at syndicates yet you don't need to be looking at um going there you just need to be buying an index fund rocking that foundation so you're set up for just that automatic millionaire status and not too long in the future yeah it doesn't have to be complex sometimes it's better because then you have that energy to build things that you're passionate about and spend time on things that you actually want to um so yeah thanks so much for your question i love it when we get um some younger people in the chat who are actually thinking about this stuff and watching the money guys show i think it's fantastic so thanks so much for your questions today guys it was an honor to be here at the desk with brian um looking forward to beau coming back next week and yeah thanks so much be sure to head out to moneyguy.com resources um we'll load you up with all the free resources that we mentioned on the show today right there at that website and then if you want a deeper dive you can go to learn.moneyguy.com we've got a course we've got a net worth tool all of these are supposed to set you up for success financially because we believe there's a better way to do money and we want to give you access to that guys i'm your host brian reeby the rest of the money got team we're out

Channel: The Money Guy Show

Views: 41,471

Keywords: money guy show, debt, budget, cash, real estate, insurance, how to make money, save, credit card, compound interest, buying house, buy stock, success, personal finance

Id: HHiP04j3wiU

Length: 70min 35sec (4235 seconds)

Published: Tue Jul 19 2022