many of us have the same goal we want Financial Freedom and to leave a legacy for our families but it all starts by making the right choices the caliber of our financial future will be determined by the financial choices we make today it's never too late to start taking the necessary steps to change your financial future trust me your future self will thank you 80% of millionaires are first generation millionaire when I hear that the average millionaire didn't become a millionaire until the age 49 I understand it because mindsets tend to shift so listen don't give up on your dreams just yet now before we hop into Today's show I want to remind you of the book of the month goals by Zig Ziggler get your copy Linked In the description box below and while you're there be sure to like comment and subscribe so you can be notified every single time we drop a new video all righty now let's hop into the show Welcome to the table yeah yeah we going to get real we going to get right oh building up wealth we going to give life Welcome to the table welcome to the [Music] table happy Martin Luther King Junior Day family it's Martin the King Jr month let's be honest we're going to be celebrating this man um all month long and you know during this time we often hear uh the I Have a Dream speech we often hear people talk about his amazing speeches is and as we are celebrating him this entire month I found five interesting facts about this great man anointed man flawed man of God I mean I'm saying flawed uh because there's only one perfect individual in this uh on this world I'm going say on in that's our Lord and Savior Jesus Christ uh but did y'all know that Martha King Jr was named after Protestant reformer Martin Luther did you know that put a put a one in the chat not a one in the chat but put hey I knew this stuff what about this the average person is going to college around 18 to about 20 right now Martha King went to college when he was 15 years old now we all knew that uh King was arrested a lot of times but real quick how many times do you think he was arrested put it in the chat if you're watching this live how many times do you think King was arrested on our behalf on black people's behalf on on equality's behalf five times nope 10 no how about 20 nine times uh this man was arrested we all know that unfortunately King was assassinated but did you know that there was an assassination attempt on his life a decade before his actual death King survived it he survived an assassination attempt a decade before he was actually killed and taken away from us last one after his death The King Family filed a civil case against the government and actually won on December 8th 1999 12 jurors reached a unanimous decision that King's death was result was a result of a conspiracy the trial took place in Memphis Tennessee and included four weeks of testimony in over 70 Witnesses the jury was convinced by the evidence and reached a verdict after only an hour of deliberation overwhelming advice or not advice evidence showed James Earl Ray was not the shooter but Waris was set up to take the blame after the evidence showed Ry did not pull the trigger local state and federal US government agencies and the mafia were to blame happy Martin the King Jr day man I want to start off today's show before we get into these mindblowing these startling stats these crazy money stats that I believe will definitely help us really understand the importance of taking our finances serious seriously because you know we often hear um especially within the black community don't become a hashtag we often celebrate people after they're going they hashtag say her name say his name um and My Philosophy when it comes the money is don't become a part of the stat like don't be don't become a part of the negative stat 78% of people are living paycheck the paycheck I don't want you a part of that stat I want you to create your own stat I want you to be a part of a stat that's hardly talked about and today I'm going to go through the top 10 stats that that just have me shook a little bit in in in a in a way uh this is a a good way and it's a bad way but before we go there I want to start off and bring our attention over to John chapter 17: 14 through I think I'm going to go to 17 yeah I think I think I'm going go all the way to 17 yeah actually I'm going do that so we're in John chapter 17 right yeah yeah yeah we're going to start from verse 14 I have given them your word and the world has hated them for they are not of the world any more than I am of the world my prayer is not that you take them out of the world but that you protect them from the evil one they are not of the world even as I am not of it sanctify them by the truth your word is the truth as you sent me I'm going go in verse 18 as you sent me into the world I have sent them into the world for them I sanctify myself that they too may be truly Sanctified what the scripture is saying is that we are in the world but we're not of the world there's a quote that I really want you to remember today as we're going into these stats because the reason why I chose this scripture for today is we're going to read some of these stats we're in it but we don't have to be a part of it today's affirmation in today's quote I want you to repeat this after me I want you to write it down if you can if you need to pause and write it down please do that but the affirmation is I am firmly rooted in my faith and values while I navigate through the world I remain Untouched by its negativity and materialism I am Guided by light love spiritual wisdom making choices that reflect my true Essence and Divine Purpose let me say that one more time I am firmly rooted in my faith and values while I navigate through the world I remain Untouched by its negativity and materialism I am Guided by light love and spiritual wisdom making choices that reflect my true Essence and my Divine Purpose as we're talking about where where're in the world but not of the world as we are going into these money stats that that I believe are going to shock some of you all that I believe it's going to convict some of you some of us it's going to challenge some of us to get out of these stats because let's be real some of us are going to be a part of these stats but today I want you to hear how real this is but I want you to go back to this this scripture you're in it but you're not of it so let's get you out of it and what we're going to do to really help you do this help you do this January 22nd all the way through the 26th we are doing something that I believe is going to shake the world it's going to shake the Internet it's going to shake social media this is pray FYI we're going to be praying for your increase January 22nd through the 26th it is 100% free okay we are going to get up every single day at 12 12 p.m. Eastern Standard Time so during your lunch uh lunch hour if you're on the East Coast that's going to be what about what 11:19 about 9:00 a.m. in the morning if you could just put on your earphones jump on this we are going to log on and we are going to be touching in The Greening together and praying for our increase day one on that Monday the 22nd we're going to pray for our decrease in debt our decrease in liabilities our decrease in poor money habits our decrease in anything that that is negative towards our increase then Tuesday through Friday we're just praying over every single increase salaries businesses um wealth um uh our Legacy you know we're praying over everything so I need you to commit to giving me not giving me giving yourself giving your family giving your loved ones 10 minutes to pray for your increase we pray for our girlfriends we pray for our spouses we pray for material things but when it's the last time we came together and said God give us your spiritual wisdom so we can get the wealth so we can get the increase so we can get the things that we desire so we can get out of these stats we're going through today and we can become a part of the minorities what's going on everyone it's your boy AO here and I'm super excited to share some incredible news with you on January 22nd through the 26th we're launching a transformative movement called pray FYI short for pray for your increase we're believ in 2024 will be the year we eliminate debt and build wealth so real quick I want to give you a sneak peek into what's happening January 22nd through the 26th I want to encourage you to join myself and thousands of others in this week of prayer as we're diving into a series of powerful sessions each focusing on a key aspect of financial well-being join this Movement by visiting pray fyi. you see day one we're focusing on debt reduction and financial stress we'll be praying for wisdom to identify and eliminate unnecessary expenses making room for your financial growth and stability on day two it's all about increase in salaries and business income we'll come together and pray for guidance in pursuing career opportunities promotions and the skills needed to boost our income day three is all about increase in wealth and investment opportunities let's pray for discernment and wisdom wisdom we need this and making sound financial decisions that lead to longterm I mean longterm I mean generational Prosperity on day four we're tackling boosting multiple streams of income together we'll pray for creativity and opportunities to diversify our income streams creating Financial abundance and finally on day five enhancing Legacy let's pray for discernment and wisdom in making some sound financial decisions that lead to long-term Prosperity I want to personally invite you to join me on this journey of Financial and spiritual growth listen I honestly I can't wait to see you there visit pray fyi. to get started I'll see you soon when I say the minorities I'm not talking about skin color I'm talking about the minority of 1% of wealthy people the minority of 10% of individuals making $100,000 or more so if you want to go if you want to be a part of this go to pray fi.com is 100% free we're going to send you all the information that you need uh to to join us every single day and I promise you I promise you it's going to bless you give yourself 10 minutes every single day for one week and I Promise You by this year you will not be by this time next year you will not be the same let's get into the first step let's let's let's let's get into the first step let's get into the first stat these stats are interesting like I it literally blew me away it it some of these stats shook me this very first one you guys have heard this before you've heard this before number one 57% of Americans don't have enough savings to cover a $11,000 emergency 57 % of individuals do not have enough savings to cover a $1,000 emergency and you know this you know why this this makes me upset a little bit but but I have Grace and this is why I'm here doing what I'm doing is because when I go on social media and I see my brothers popping a champagne bottle and ain't drinking it but they're pouring it out on the floor pouring it out on my my my my sisters behinds but then yet we want to complain and say the system wasn't made for us but we're not being good stewards of the money that we have and the reason why I gave that example is because you're dropping at least $800 to $11,000 for a champagne bottle so you're throwing $1,000 on the floor but then yet we want to complain and say that we don't have the money you don't have $1,000 in your savings account but then we got name brand clothing items and and and purses and shoes and and and expensive cars that that we do not need to be having a a average car note right now was $750 a brand new car note could be right around $1,000 to $1,200 but yet we do not have $11,000 in our see fun and I'm pausing right there because it's like I get it I remember being young when I say young I'm talking about I used to be young financially mentally if that makes sense I I was immature financially while I was of Age and and and and you guys this year I'm praying for increase this year I want us to increase in our Wellness increase in our abundance increase in our freedom I am not saying that we cannot have a good time I am not saying that we cannot go out there and have nice things here's what I am saying I don't care how rich you are I don't care how wealthy you are I do not see wealthy smart individuals getting a champagne bottle and dumping it now do we see them Shake It Up and pop it open and let the you know the stuff come out yes absolutely we see that but then we drink it you know we're not going to waste the money and how do I say this if you don't have $1,000 in your savings account right now what I want to say it's all right I want to encourage you this year your goal right now is to get at least one month of expenses inside of your savings account that's your goal right now if that means you need to tell your friends hey I can't step out this weekend parents if that means you need to tell your kids hey we we can't do this for the next two months we're going to eat in we're not going to be able to do extracurricular things as of right now if if if that means you need to make some sacrifices so that you can have some cushion for when an emergency happens and that's what we got to do you guys the the last thing you want to do is have an emergency come up and you have to go run into a payday loan Advanced place you have to go run into the bank to borrow money that you cannot afford to even uh borrow we should be positioning ourselves to be prepared and ready for an emergency and you guys credit card are not for an emergency it's not credit cards are not for an emergency it's not it's not reement to number two there are 441 million credit card accounts of which 191 million accounts 43.4% had a revolving balance carried from month to month during 2023 I'm sorry during Quarter Two of 2023 while 65% say they carry a balance at least some of the time this is coming from Lending Tree so 43.4% have a res rol revolving balance so this is nearly half of American people 65% the majority of people say I tend to carry a balance from from time to time yes I may carry it for two months I may carry for two years I may carry it forever but you I don't carry you know forever they they they carry a balance the majority of the time so when I hear people say I pay off my credit card every single month I never carry a balance the majority of you are lying based upon the stats the majority of us are lying and so I did some research there's there's two kinds of there's two numbers out there there's there's there's there's two numbers out there right two numbers two numbers two numbers um when it comes to a credit card balance I saw one number of five ,800 but the Federal Reserve gave me a number of $ 7,951 of the average credit card balance in the US and so I said okay I'm going stick with that one because it's a federal reserves and the US Census Bureau paying the minimum balance of $150 on $ 7,951 if this was your credit card balance it would take you8 years and 11 months to pay off that balance if you just make the minimum payment on $ 7,951 that's about $150 it will take you eight years to pay that off almost nine to be exact it's 8 years and 11 months that's a total interest of 8,19 on top of the $79512 borrowed pause pause why to the individuals who don't carry a balance this ain't for you okay this ain't for you but to the individuals who carry a balance I really want to show you what you're doing and why this is so scary this is why I'm I'm adamant about Financial Freedom and not carrying debt because you borrow 7,000 but you're paying back 8,000 on top of the 7,000 so you're giving them back $7,000 and the penalty for you borrowing $77,000 is you're paying them $8,000 so you're giving them back $155,000 and some change what's going on fam I want to thank my friends over better help for sponsoring today's show hey folks let's switch things up as we step into 2024 instead of the usual New Year New You mindset how about we focus on what's already working well in our lives I want you to think about it maybe you've got a handle on organizing your space or you're nailing your morning routine with supplements why not build on these success this is where therapy can be a GameChanger it's not just about fixing problems it's about recognizing and expanding on your strengths therapy helps you understand what you're doing right and how to leverage that to make lasting positive changes now if you're like me finding time for therapy can be a little bit challenging let's be real that's where better help comes in it's entirely online it's uh making it super convenient and flexible you can fit it into your schedule no matter how big busy you are just fill out a brief questionnaire get matched with a licensed therapist and if you ever feel the need to switch therapist you can do so anytime at no extra charge just fill out a brief questionnaire get matched with the license therapist and if you ever feel the need to switch therapist you can do so at any time at no extra cost whether you've been in therapy before or considering it for the very first time listen here my friends of better help are a great great option it's not just for those who face major trauma it's for anyone looking to empower themselves and to be the best version of themselves in 2024 so listen I want you to celebrate the progress you've already made visit betterhelp.com slao today to get 10% off your first month again that is betterhelp.com slao or the link will be in today's show Nots all right let's get back to Today's Show and so I did some math I did some math and and and and I want to I want to take you over to my website take uh put me over to the screen I I want to show yall this if you go over to Anthony oil.com I just want to give you the honest math the honest math uh come down to this website again we have so many free tools as you all can see here if you really want to get out of debt start Building Wealth there's so many free tools on my website so many um articles uh on teaching you how you can can save money smart ways to invest Etc we're updating this thing at least two times a week here but I really want to bring your attention to uh my wealth calculator all right and so let's just say for an example uh the average person watching me right now let's say you're 30 right let's say you're 30 and at what age do you plan to retire right let's just say you plan to retire at 65 years old let me go back up here I accidentally hit that number so 30 retired 65 all right cool let's just say you put that 8,000 $119 inside of your investment all right let's say you put that $8,000 $19 inside of your investment this is the interest that you paid to the credit card company all right and let's just say worst case scenario worst case scenario uh you let's say 8% the S&P there is about 10 to 12% but I'mma play it safe let's just say over 35 years you invested $8,000 you just put that in there one time you got a 8% return and let's say you put zero in that account zero put me back up on the screen I need them see this don't take them off I need them see you put 0 in it with a 8% return with $819 that your interest over 35 years look how much money you gave away you gave away $122,000 in growth in compound interest this is free money now mind you I teach keep them on the screen want them to see this number I teach at least be investing 10 to 15% of your income into your retirement plans but let's just say you know what you don't want to invest nothing at all and you put this $8,000 into a good mutual fund into a good Ira maybe back to your 401k that's $122,000 you could have got over 30 years but let's just say you know what let's just say you came over here and you you gave yourself $150 a month so instead of giving it to the credit card company you're giving it to yourself well how much money you going to get my goodness it doesn't double it triples now you're almost at a half a million dollars that you have look at the growth you guys $43,000 you only contributed about $63,000 with your initial investment of $8,000 so that's about $71,000 that you put into it but the power of compound interest you grew free money good money $43,000 you can come back to me now Jay so when we look at this what decisions are we doing I say this all the time the caliber of our financial future will be determined by the financial choices we make today what Financial choices are you making that's impacting your tomorrow what what Financial choices which leads me to when we say choices leads me to stat number three that just blew my mind I'm like what wait what step number three less than 177% of high schoolers took a semester of personal finance you got to be kidding me school we go to school to learn how to read write process information add and get us ready to get a job I have a problem with the school system here now don't get me wrong my mom is in education my sister is in education I have a lot of family members who are in education but how are you teaching me to get a job but then you're not preparing me for what the what's the purpose of the job a check we got to do something different about this this is why parents is very important to make sure that if they're not getting a personal financial educational course inside of uh their schools what are they getting at home and I know you may be say Anthony I don't really have the best stuff I'll be watching you cool great expose your kids to my channel make sure that they're watching my channel I don't I don't talk about nothing crazy on here I don't talk about nothing no no no no I'm here to help us increase and we got to help our young people get to the point that they understand financial literacy now I've been blessed and I'm blessed and privileged enough to be inside of um a a curriculum with the Ramsey organization in their middle school and high school curriculum I'm actually going to be working on something I can come out with myself within the next couple of years uh for you know my my community to start teaching their young people I'm I'm really really really really blessed and fortunate that's one of the best high school and middle school curriculums in the world uh the Dave Ramsey courses they have for young people inside the high schools it's the best it's the best but this bothers me that our young people they're learning how to read they're learning how to write they're learning how to add they're learning how to do algebra they're learning how the history um they're learning you know uh what else say learning in schools or whatever the whatever the other stuff they're learning in schools but they're not really learning one of the most important things about life is how to be a good Steward with your money I wish somebody explained to me what taxes were I wish somebody would have told me hey if I'mma pay you $15 an hour your first check may be $100 but you're only going to see about $65 $70 of it what I made plans for my very first check I made plans for that $100 and I was so upset because no one taught me about taxes what are you doing with your young people we can sit there and we can teach them how to do the dance on Tik Tok I'm seeing we're we're bragging about young people cussing up a storm we we're laughing at that it's popular to make your kids do something to have them go viral I don't care about my kids going viral whenever I have kids I want my kids to grow up and when they turn 18 they got a check for 100,000 for 200,000 and they know what to do with that check I want to position my kids to start off life better than me them going viral don't mean nothing them knowing the latest dance don't mean nothing let's start getting the information so when they turn 18 when they turn 21 when they turn 25 they're making boss moves they're making wealth moves they're impacting the world we're talking about high schoolers filling this one talking about high schoolers talking about how we're not giving them the financial education I think that which leads him to number four we're not giving them the financial education but we're also not really stepping back and asking them what is the best thing for your future instead of us forcing College on to them when is the last time we've sat down with them and said hey you know what what do you desire like what are your strengths what are your skills what is the right strategy for you moving forward because stat number four reveals that nearly 40% of undergraduate student loan borrowers don't graduate with a degree so they go to School borrow money to go to school realize college is not for me college was not the right strategy for me so that drop out and I still have student loans when if we would have step back and said okay let's write down the strategy let's come up with a strategy that's best for you son that's best for you daughter and parents I hate to say this but it is what it is right now if your son or daughter is real good on a Playstation or Xbox you got to find a strategy for that if your son and daughter is real good with their hands and you see that they're cutting hair they're they're they're doing good with you know uh braiding hair and designing care and it's like listen find the right strategy for them if if you see that your son a daughter um is they have a lot of influence find the right strategy for them college is not the right strategy for everybody we have so many boot camps and we have so many um um um uh side uh what they call the trade schools that young people can go to and they're getting out making 50,000 60,000 $70,000 a year when the average person in America is making about 48 to $52,000 a year what wait hold on wait a minute you're telling me I can go to a boot camp like course careers pay $450 do them for about 60 to 90 days get out of that go get me a job making 0 $70,000 a year plus commission at 18 at 19 years old yes when the average American the average adult working American is making 48 to $552,000 a year I could be 18 and I can pay $450 no debt graduate go to school uh go to this trade school go to this boot camp take it at my own speed and come out making 50 60 70,000 plus commission yes you can and I'm going to drop course careers information in the show notes today that's not just course careers we got my friends over there at bethl um at bethl uh uh technology school where they're giving you higher in jobs for like a quarter of the price of a degree like $115,000 their completion rate is insane I'mma drop their information there too so you got several different options when the average school I wrote the book just to get a four-year degree the average is going to be about $100,000 so you have option to where I can go to a trade school like bethl pay about5 $16,000 they even have a program at Beth that's like $55,000 to get you a job like $80,000 but if you want to get entry-level Tech job then you can go to course careers at $450 my goodness you're spending less money boom you're good so I'm going to drop those two information in there you're going to be able to go see what is the right program for you if you fall into this stat as far as and you're going to college um and you're dropping out or you went to college and you dropped out you didn't have a degree because another step we're g we it's GNA come back to this which which actually it is here it is Step number five 77% of employees are not happy at their work 70 7% of team members are not happy with their jobs this is insane and I think the reason why 77% 77% of these individuals are not happy with their jobs is because maybe they deserve a pay raise but they haven't really done the right things to get the pay raise maybe you haven't really came up with the right system the right strategy to position yourself to get the pay raise maybe you don't know how to present yourself to your boss to get the pay raise so it's like maybe you do enjoy the job may maybe you do enjoy the work but you you're underpaid and that could be fair this this could be so real because if you're not getting paid what you're worth then yes you're not going to be excited to come into the job especially our sisters I'm just especially our sisters especially my black ladies not just the black ladies all women women tend to be paid less than men and because of this man and I've been seeing this because of me on my side of the chair right said this in one of my shows like I I understand what it what it feels like now to be you know a a CEO of a company when I spent the majority of my life on the opposite side being an employee wanting more money deserving more money but I really wasn't doing the right things to position myself for more money and I really didn't understand the whole company aspect now that I'm on this side I'm like okay I get the whole company aspect so I came up with the guide on how to get a raise in any career field that you're in and I'm going to link that into Today's Show notes it's like 20 bucks it's like 30 pages long it's a eBook to where I'm literally walking you through how to get the pay raise so that way you can be happy when you walk into your job this way when you walk in you're excited because if you bring in this I'm not excited energy two things are going to happen that's going to flow over into the other workers and what's going to happen is either they're not going to want to be with you or your spirit of negativity is going to run off to them then now we create a negative atmosphere in the job and we don't want that and so what's going to happen as a boss as a CEO I'm going to find the person who is carrying that spirit and I'm going to get rid of you because you wouldn't want that spirit in your own company if and when you have a company so how about we figure this thing out how about we figure figure this thing out we we we got to figure it out we got to figure it out and another reason why some some uh some people may not be happy at the job is because they just don't like what they do which is why I'm saying Hey listen if you're not happy in the career field that you're in please transition please go look into another career field that you will be happy in that you will actually enjoy doing I wake up every single day and I am excited because I get to while I am learning I get to teach my brothers and my sisters um the things that I'm learning to help us with our finances to help us you know evolve and and expand in Wellness abundance and freedom uh we are the E3 Community I get excited talking to my E3 Community I want you excited so maybe you need to do some research and look into other careers and I'm telling you right now we were just talking about this the top career here that's creating net worth millionaires the difference between a income millionaire and a net worth in millionaire income millionaire is someone who makes a million dollars a year net worth millionaire may be someone who makes $75 $80,000 a year but they've invested enough um into enough things to where their assets adds up to a million and we going to talk about our net worth Millionaires and so the biggest career right now that's creating net worth millionaires the tech industry which is why I said you need to really check out course careers or bethl and we're want to put the information into Today's Show NOS here's another another reason why some people may not be happy it's because the benefits the benefits are not good they don't offer life insurance they they don't offer you know health insurance they may not offer certain things and I could understand that I could really understand that something that my company is working on we just offered a 401k benefits with match with with the match 2024 we're working on offering health benefits uh because I want to make sure that I am providing my team with a lot of benefits so I I don't offer health benefits right now because that's a monster within itself but my team gets off every single Friday they get a 401K with up to a 5% match you know we get uh we get them two weeks off in July two weeks off in December one week off in November so my team gets a lot of time off on top of two weeks for themselves to do whenever they want because I'm trying to make sure that my benefit package plus their pay is a good package you're not going to really find that kind of package all over and when I offer health benefits it's insane it's just going to be a great company to work for right but sometimes um I'm working on offering life insurance but the reason why I haven't really offered life insurance just yet is because of my good friends over at ethos right ethos is one of the most a affordable ways of getting life insurance and one of the biggest things I've really been telling my team is hey not don't don't just get life insurance through ethos the majority of my team have a life insurance policy through ethos Michelle she has one Jay has one CJ has one I don't know if Alex has one I think he might but I don't know I haven't asked him right but the majority of my team have a life insurance through them and I told them get that so that way you can get a full estate plan as a matter of fact just check this out real quick recently I've completed my full estate plan and it's been an emotional Journey if I'm going to be honest with you but now I have a peace of mind knowing that my family and loved ones are well taken care of but here's something you may not know that I think you need to know according to a recent study nearly 60% of African-American adults have life insurance now wait a minute many of these policies may not provide sufficient coverage to fully protect their families in case of unexpected deaths this lack of adequate coverage is is a pressing issue among the black community it can lead to financial difficulties and potentially hinder the building of generational wealth in today's time it's more important than ever for African-Americans to give priority to life insurance and estate planning you see by doing so you can ensure that your loved ones are secure in the event of your passing this covers funeral and burial cost clears all debts and mortgages and provides a financial Cush to help them continue Building Wealth longlasting wealth don't leave your family's financial future to chance I want you to secure life insurance today I want you to get a free life insurance quote through my friends at ethos all you got to do is go to Anthony oil.com lifeinsurance again that is Anthony oil.com forlife inssurance for your free quote or click the link in today's show notes protect your family's future and attain a piece of of mind at right now and let's get back to Today's Show I I really want you to look into securing and covering your loved ones and I get it maybe your job doesn't offer life insurance uh maybe don't offer um um benefits to help you with that but you know what you can get it for an affordable price so go check my friends out over there ethos one of the stats that you know that that I want to I really want to talk about uh when when we talk about 40% of undergraduate student loan borrowers don't graduate with a degree right and then 77% of them are not happy when they get on their actual job here's something that that really really shook me when it comes to our working individuals the average American the average working American has $65,000 in retirement savings while 32% of these indiv uh working Americans have zero saved for retirement so if you're working if you have a job you you have about $65,000 in retirement right that's going to be like the the the the the average working American but the same study shows that hey there are a certain amount of people who do not have anything in retirement earlier I said that the caliber of our finan future we'll be determined by the financial choices that we make today just the other day I was driving in an Uber man and the Uber guy had to be at least 87 years old I had my suitcase I had a real big suitcase I was going to California and um I had to put there's big heavy suitcase in the back of the car normally uh when I order a a black car Norm normally the guy would get out the guy said hey young man can you can you get that man I'm I'm too old to to lift that I'll open the door for you I said yes there no problem and I get to the back I lift up it was a heavy suitcase cuz I was going for like almost three and a half four weeks and I get up and I put it inside the car and I get in the back car said hey man I'm so sorry man please please uh please don't give me a bad review man I'm I saw that suitcase I said oh lord I can't lift that and uh he said I'm so sorry I said no sir you you are totally good did not give him a bad review actually gave him an amazing review and gave him a 20% tip when he dropped me off and while while he was driving I asked him say Hey sir how how old are you and I forgot the age and I don't want to lie but he said something right around his 80s and I said may I ask a personal question he said sure I said why like why are you driving in 80s is this because you just want something to do with your time so oh no I wish I could be home right now he said man but I just didn't make the right decisions when I was your age how old are you son I said man I'll be 40 I'll be 40 uh this was back in December I said I'll be 40 next year and it's so funny every older person that I have this conversation with says use your youthfulness wisely everyone this this young man in his 80s came back to me and well it didn't come back to me but in the midst of that conversation he said I don't have too many regrets in my life but I do wish if God gave me another chance I would go back to my 30s and just make better decisions he said yeah I get a little check but that check literally son covers the bills the just the basic bills this right here allows me to actually live that hit me me that hit me said this is the money that gives me gas money this right here gives me grocery money this right here gives me money to go see my children and grandchildren but if I didn't do this I could only pay my my mortgage pay this pay that pay the mandatory bills and I want to ask you this what are you investing towards your future what what what what decisions are you making today that's going to impact your tomorrow so a lot of y'all may be saying hey Anthony okay I hear you I'm I'm a part of this stat you know I I I maybe have $65,000 in in in retirement savings and some of y'all going say hey yo I don't have nothing in savings and let me oh let me say this let me say this ah oh Jesus I got to say this with Grace and with love the people with the zero in savings are not technically the people who have jobs so I think a lot of people I need to actually look into this a lot of people are investing into their 401ks on their jobs they may not leave and open up an IRA they may not leave and invest but let me tell you what is so shocking to me the people who have zero in savings are entrepreneurs is because we get a 100% of our money and we don't have something taking out for 401ks when I started at 401k before I told my whole team about it I was the first person to sign up myself I invest my money into a 401k and get the company match I I do that myself I invest into a SE I I invest into other areas but most entrepreneurs are not investing into retirement because we get all this money we see all this money and we're we're we're not really spending the time to sit down and say you know what what's what's the best thing for me to do for my finances so I would encourage you I want to encourage you hear hear my heart wherever you are please don't be a part of this St and if you are in this St be in the world but not of the world be in this that don't be of it get out of it and this is what we're praying for this year this is what we're praying for on the 22nd that we could decrease this mindset and increase our investments increase our wealth and so what is a good common rule of thumb when it comes to aiming for retirement okay what is that good common rule number one rule I'm going to tell you is sit down with a F financial advisor and you come out what works best for you but the goal is you should be aiming for to live off of at least 70 to 80% of your pre-retirement annual income so say for an example let's say if you're making $100,000 per year before retirement you might want to aim to have and to generate at least enough income to where you're making at least 70,000 to $80,000 a year so you're making $100,000 a year pre-retirement while working your investment should be able to at least give you 70 to $80,000 a year my goal is that my ultimate goal is I win a million dollars a year that's my goal that's why I'm investing heavily I'm investing aggressively to where I could be living off of $80,000 $888,000 a month that's my goal or $83,000 a month that's my goal yeah cuz I still want to be a giver in my church I still want to travel the world I still want to be able to do the nice things that's my goal that may not be your goal but your goal should be 70 to 80% of your pre-retirement income this is going to factor in your age inflation investment returns health care costs lifestyle Choice that's it that's it which we just talked about how I want to be I want to be making at least a million dollars right which comes into a stat number six which is very very interesting um and it says so interesting because I think a lot of people feel a certain kind of way about this stat but it it is what it is 80% of millionaires are first generation millionaires first generation we hear all these stories of oh he got that money from his mom he got a money from money from his dad well his parents set him up well well that's true for 20% of individuals it's true but 80% of millionaires are first generational our first generation millionaires I think yeah my brother-in-law and sister made their first seven figures in our family and then I came right behind him and and started doing that but I do want to understand I would do want you to understand the difference of millionaires we see so I'm a millionaire I'm a millionaire I'm a millionaire um there's three kind of I would say categories of the very first category which I think is the most common millionaire are your net worth millionaires like I said earlier these are individuals who may make on average about 880,000 to about 100 maybe $100,000 um a year but they've invested into you know all their their assets as far as and they've invested into their 401ks they invested into a mutual fund IRAs your seeps account your HSA accounts theyve invested into you know home homes and rental properties and and they have zero debt and so when you add up all of your asset minus your debt if you have no debt what is that equal up to it could equal up to seven figures in that case you are a net worth millionaires you're worth a million while you may only make $70,000 a year but watch this if your net worth is a million and let's just say the tax return does give you uh not your tax return let's say your compound payout when it comes to your interest is at 10% that's $100,000 a year if you have a million in the account let's just say it's at 8% okay now you're getting $80,000 a year off of your $1 million investment so so so when you really think about you know that you everyone should aim to become a net worth millionaire the second one could be a incom producing millionaire as far as and they make $1 million a year as their income to the themselves now the third one that we hear a lot of influencers talk about is they sell a million dollars worth of products like okay wait wait they may have sold a million dollar worth of product may have made a million dollar worth of product but it cost them $700,000 to come up with the product so technically their company made 300,00 because you got to get back that money and so I don't want you to be discouraged when you hear people say oh I'm A Millionaire um listen focus on just becoming a net worth millionaire while working on trying to figure out how can you produce a million dollars a year profit that's the goal that's the goal here's number eight I got what two more two or three more yeah three more three more um I hear so many people say man it's probably too late for me to work and I it bothers me when I hear people say this like oh man I'm almost 50 years old I'm G give up my drains I think that's one of the the the most immature thing uh I'm G to say immature yeah it could be an immature statement you're not an immature person but it could be an immature statement because you do not have faith did you know that the average millionaire didn't become a millionaire until the age of 49 I'm going to let that sit right there that the average millionaire really didn't come become a millionaire until they were like 49 years old which is so true because I I can feel that at the age of 40 I think about things differently now like since about 38 I would say I I'm seeing myself mature there's certain things I'm growing out of like uh that was a little immature heo uh oh uh uh like I like this year um I told my CPA y'all y'all um I don't know when I don't know if we air this show already or not but I have my a team on the show and I was was telling my a team that you know I would love to get at least uh a half a million to seven to seven figures just sitting in the account uh for my business right and like I really want that because as we're hiring more I really want to make sure that I have a good amount of money in reserves because I care about my team members I I value them and I want to make sure that if life hits us uh we can still employ our people for a full 12 months there's no way in the world I can operate a business for 12 months and not make any money and so like now it's like okay wait a minute um we got this building my team is growing I want to be able to give out more pay raises but I got I got to make sure though that I'm positioning myself to be wise so now all these big things that I was thinking about doing I'm like ah cancel that what's most important for me is legacy and Legacy for me is not just my parents but it's also about securing a firm foundation for my team members so I told that to my to my CPA 2024 I'm not going to really be buying too much property as far as in real estate I want to position myself to where the company is in a real real real good healthy position and so when I when I hear that the average millionaire didn't become a millionaire until the age of 49 I understand it because mindsets tend to shift we become we become more dowed in and like our late 30s and early 40s like now I'm like okay what do I really need like what I'm valuing more in these days in time to me it's just like wow I took my team in the first team Retreat I was thinking about that two years ago but now I was like no we need to all come together and it was one of the best things our team did but I didn't think about that until like right now like yo we need to come together and this is something that I wish my younger men and women could understand in their 20s if you can start thinking like this in your 20s forget retire at 65 you're going to retire at 4550 so listen don't give up on your dreams just yet if you're 49 50 years old you're in your prime time you can still get it you can still make it but here's the thing too and this is a startling stat Number Nine by the time you retire we showed you this inside of my wealth magnet and y'all can go there go to Anthony oil.com uh you'll be able to click on that wealth tool and you can do your own calculation for your own system system but 90% of your Investment Portfolio will likely consist of growth from compound interest this is free money over a longer period of time often times we're looking for a shortcut to grow wealth we're we're we're looking for a way to a way to have a shortcut to make a million dollars today I don't mind us trying to figure out what's the best way or the quickest way to make some money in a legit ethical and moral way I'm I'm all cool for that but why not have Slow Money maturing for you at least you have that going do not sleep on compound interest the end of last year man I'm I'm in a meeting with my a with my accountant uh with my advising with my attorney what's the best way to save and invest uh not save really invest more money legally and ethically to where I do not have to pay the IRS more money but I can put this money aside for me my family and my business and my a my attorney my uh Financial accountant and my financial advisor I have an advisor even though I'm a money guy right um just said hey here are the best ways to do it so now I'm investing more money to my kids you can be making $45,000 a year you still need an advisor you still need an accountant you still need an attorney so this way when you get of age retirement age you have a large portion of income sitting waiting there for you watch this to not pull from the principle but pull from the compound interest so what what what what are we saying here if you leave that million dollars in and that million dollar makes you $100,000 every year you're only pulling out the $100,000 to live off of you don't have to touch the million dollars and that's my goal I want to get at least $10 million in account 10 to 15 million depending on what inflation is looking like around that time I want to get at least 10 to 15 million in account to where I pull the compound of at least a million 800,000 to a million doll out of that account and I leave the principal in there and I'm passing that off to Legacy I'm getting older I'm thinking I'm thinking differently I'mma have all my homes paid for I'mma have a vacation home for my family I'mma have our primary home right I'mma have all that paid for I'm going be driving my dream cars my wife is going to be driving her dream cars my kids are going to be in a good place financially if I have kids to where that $800,000 a year she be for me and my wife and we're talking about kids last stat that I think a lot of us may fall into stat number 10 25% of student loan borrowers default within the first 5 years of repayment this is a stat that just bothers me it just gets on my nerves that's why I wrote the book thatb free degree to help people not fall into this stat if you were a part of any of these stats if you are if you are I want you to put in a comment me just type me if you're watching this on YouTube right now hey I was a part of one of these but like I said earlier I want you to remember the affirmation that I gave you earlier that you are firmly rooted in your faith and values while you navigate through the world you will remain Untouched by its negativity and material ISM because you are Guided by light you are Guided by his love and you're Guided by spiritual wisdom spiritual wisdom spiritual wisdom for the people listening to this on podcast I have my Bible lifted up because this is the wisdom that we all should be learning from if if we're Guided by spiritual wisdom we should be making choices that reflect our true Essence and our divine purpose if if if if we're not listening to this wisdom we're not making the right choices and if we're not listening to this wisdom the Bible then we are a part of these steps and that's not who we are because yes we're in this world but we are not of this world and if we're not going to be of this world then we got to be surrounding ourselves with individuals who will help us not be of this world so make sure y'all check out my friends on the neatness network uh amazing shows that we have on this network man I'm I'm super excited super grateful to have them a part of this family because we're really focusing on how do we have a neat life a lot of us aim for Perfection a lot of us get depressed over Perfection but if we can just aim to be neat every single day we'll get close to Perfection probably never hit it but every single day our life is getting better and Me Myself and this amazing team can do it real quick here's a question of the show brought to you by build your table with Anthony O'Neal that airs every Wednesday starting in February is a live show to where you can call and ask your question today's question comes from Rebecca she says you recently said on one of your shows that I should not give my kids an allowance I was taught that an allowance should be given in exchange for doing things around the house do you not agree with this approach you know some may find is unpopular right some may find is UN pop and so so many people say Anthony you don't have a kid you you you you going to change and it's so funny you know it's so funny when when people say that it's it's it's so funny it's so funny it's almost like people who are saying here's how you be here's how you can become a millionaire here's the best way to run a business and it's like no I don't have kids no I I I do not have kids the Bible says train your child up in the way that he or she should go I think it does our kids disservice to pay them to make up their beds how is that training our child up in the way that they should go the training part should be and you all may disagree with that let me know in the comments if you disagree with that why am I going to pay my kid to do something that they will have to do for the rest of their life and not get paid for it when they leave this house they're not going to get paid to make up their beds when they leave this house they're not going to get paid to do the dishes so for me I'm definitely going to have a what you all call a way of allowance I call it a commission hey son I want you to come out here I want you to help me cut this grass or or I want you to do something that you could get paid for my son get paid for you know what I'm saying cutting people's grass he can go out there and start a lawnmower business he can go out there and start a car wash business you know what son how about come on a job with me one thing that my mom did when we were younger I forgot the name of this program that was in um uh there was this program to where we can actually go on the job with our parents and because they are our parents uh they will have us like in a bat uh they'll bring a sheets of paper and we will have actually have to sort them out or we will have uh have to run them through the copy machine or like they made us actually work and because we worked on an actual job training us up in the way that he or she should go uh we got paid for that um for a little while my parents did give us allowance but then they grew out of that and said you know why why am I paying you to do the dishes this is something you have to do for a living when you grow up and become an adult you're going to do your dishes you're going to make up your bed you're going to clean up your house you're going to maintain your house you're not getting paid to do that so instead they was like hey you know what you're not going to get an allowance for this we're going to give you commission but you're going to go over here you're going to work I was delivering newspapers with my dad at on the weekends at 4:00 3:00 in the morning I was on Saturdays man I would get up actually I wouldn't get up at at 7 o'clock at night correct me from wrong dad put in the chat from wrong that we would go to a newspaper place and we would literally stack all the newspapers for the people to go out there and deliver it so my dad was like hey no we need to stop telling our kids you're going to get paid for making up your bed no you're going to get paid for going to do work and exchange for doing work you're going to get paid to come home to provide for your family so however we want to call it allowance commissions I hope you understand my heart my heart is this that I do not want to pay my kids to do something that they would have to do for the rest of their life for free but I want to train them at a young age I want you to get used to leaving the house not playing PlayStation not sitting around the house but leave the house go out into the real world do something work in exchange for doing something and working you get a check come back home pay your tithe be a good Steward off of the 90% that's how the real world Works no I don't have kids no I don't see myself doing that any differently no because I'm G have a job my kids are not going to get paid for making up the bed they're going to come to the studio where they're dead they're going to work at the studio they're going to go on the road with me and and work with me on the road it's almost like what Dave Ramsey and him did like he made his kids go come on the road with him and work in the business they got paid doing that so that's my thoughts let me know in the chat if you agree if you're watching this on podcast come over to YouTube subscribe to the channel let me know if you agree with what I'm saying if you understand the concept of what I'm trying to say right and so I think that we said earlier today that 7 1% of people 1 17% of our high schoolers are not getting the financial education at home if we're not getting giving them the financial education at home I mean at the schools and we're really not giving it to them at home where are they going to get it from TV from our music we got to do better we got to do better yo it's your boy Anthony O'Neal I love you I'll see you in the next show peace out
