What To Do Before Velocity Banking?

hello class how you doing in today's lesson we're gonna be going over what to do before you start to the velocity Data Bank oh okay what to do before you start velocity banking because we don't want to be trying to borrow from Peter to pay Paul okay we don't want to be making vital mistakes okay we want to avoid mistakes paying extra and interest okay because here's the thing about velocity banking if you don't do it right you're literally gonna be paying interest in two locations okay and then you're gonna say this concept doesn't work for me that uh my credit score is not good my this is not that my that's not this okay I want to avoid all that so I created this video hopefully give you step-by-step on preparing yourself really that's what we're talking about is preparing yourself before we get into the concept before we actually start applying it making sure we understand the concept fully we've complete we got this whole plan laid out together okay so very first thing okay is your four major numbers income expenses debt cash flow you must know these numbers back at your head okay you must know these I don't want you giving me an assumption when you fill out my form I don't want you giving me excuses or you know you know I'll give you the rest when we talk cause you know the truth is I'm not gonna talk to you alright if you're gonna fill out my form fill it out completely alright don't give me little notes like oh this and this and that and that I appreciate what I really do appreciate is someone that fills out a form completely and then in the comments maybe they give a testimony I love that stuff you know you you let me know any particular situations that I be aware of that I should be wary of you know anything's any particular like a vacation coming up and you know how you would work with that I appreciate that what I don't appreciate is when you don't fill out all my boxes okay it's not no sign up put your name email and phone number in okay that's not the type of form that you're filling out trust me it's gonna take some time you know to really fill that out and get it down packed so get these numbers right on your debts you must know the timeline the interest that you're paying right now the amortization schedules on all of them the monthly minimum payments everything everything no at all cash flow is huge okay in velocity banking you must have cash flow to start velocity banking how much I have a safe number okay which is five hundred or more that's my safe number but in reality you can start velocity banking with as little as fifty to a hundred bucks you can start you're not gonna get a lot of traction okay but you can start okay and it can build to something much bigger a lot faster over time either way you're gonna get done a lot faster than every other method that's out there period okay it's simple mathematics okay now for my people that have filled out forms and the cash flow is five hundred and under okay when we talk especially if you signed up like tier two to your three tier one you know we jump on the qat we're gonna be going over these things right here okay which is shifting your way of thinking when it comes to your money all right is the whole concept of redirecting money redirecting cash flow okay filling out your w-4 properly now I don't want to give the wrong information on this because I'm not that educated on how to fill out a w-4 properly I can only just you what I've done and what I've shared with people for myself when I was working I had a job I'm no longer working at a job so I'm not filling out a w-4 anymore for people who are working the idea behind filling out your w-4 properly is you don't want to owe the IRS any tax at the end of the year and you don't want the IRS to owe you any money at the end of the year meaning your tax refund that you're hoping to get if you get one of those that is an indication that you overpaid on taxes okay over 80% of Americans overpay on taxes which is why the rich get richer and the poor stay poor and the middle class become poor and only few become rich very simple it's mathematics okay it's not a it's not any politician it's not Republican or Democrat it's none of that it's mathematics it's economics 101 if you minimize your tax withholdings if you minimize your expenses if you eliminate your debts cash flow increases when cash flow increases oh yay you have options to do what invest start a business help people be a blessing right establish Kingdom authority here on earth oh oh okay checking account promotions this is really cool this is a simple little tweak right wherever you're currently banking at right now are they paying you no ok switch go to a different bank set up direct deposit with that you just type in Google 2018 checking account promotions okay Bank of America TD Bank Chase City all of them are gonna have checking account promotions even the credit unions are gonna have checking account promotions $100 150 250 200 til one time all you got to do is deposit do direct deposit of your paycheck into that new checking account and you'll get free money okay that'll give you a boost maybe you can use that to buy tier three or tier two maybe you can use that to start stacking the cash flow get you prepared for velocity banking okay very little tweak okay here's where a bulk of money is being exited out of your income okay which is cut off contributions to your retirement what are you doing what are you retiring from who told you to retire in what world does that make sense please tell me if think about it the word retirement there's no Hebrew definition for it okay retirement is a deadly thing okay you your body your human nature mankind okay we have been designed to work all right now it's a different story if you want to make a transition from where you're at to where you want to be okay but to just simply say then zel I want to tire and hang my coat up and do what pay bills and die come on man retire at 59 65 what is your thinking what are you what are you gonna do for the last 30 years of your life yell at the wall watch TV and complain about Republicans and Democrats and complain about tax come on come on you need to be focusing on your Kingdom Authority here on earth Kingdom principles establishing a legacy that will outlive your entire generation and the next generation okay think of Martin Luther King think of Nelson Mandela right think of Rosa Parks these are names that will never die ideas that will never die dreams visions that will never die are you creating those things okay retirement kills that okay so stop it okay cut off contributions to retirement the reason why I say that only applies you're me out this only applies to people who are in massive amount of debt and don't have any cash flow why are you paying somebody else to make money for you that doesn't make any sense what did Warren Buffett say rule number one investing yourself and what was the other one rule number two don't lose money don't forget rule number one don't lose money something like that then he's got another one where it's like if you're gonna invest in anything right first invest in yourself but then the next investment should be in something that you know something that you know why are you giving your money to bozo to the bozo right you're paying through your teeth I don't care if it's 1% remember I did the video check it out the 1% myth all right think about this your money being contributed into any retirement qualified plan if it's at 1% fees which it is not I'm pretty sure it's much higher but let's just say it's 1% every single year your cost doubles doubles of one percent because of amortized because the compound right so that's one thing the next thing cut off saving okay saving doesn't work anymore the value of the dollar decreases every single day after 1973 when mr. Richard Nixon removed gold from the dollar okay if you don't know this this is powerful this is gonna change your perspective on money money is a fiat currency has no value okay gold does not back up the dollar anymore which is why we are 20 20 20 plus 20 trillion dollars in the debt okay just one country all right debt is a weapon it's either used properly or improperly okay your money is debt got it so it's time that we multiply all the money so that we can have a fun natural freedom okay so cut off saving it doesn't work all right whether you're saving in the same in account all right again this only applies to my people that are in that tow if you're doing well financially guess what we have options bro you can save money in gold and stocks in crypto you can put money in an asset in a life insurance policy and some real estate and I better than this okay we've got options okay same thing if we are in a better financial position cash flows rocking debt is eliminated now you're just leveraging that now we can look at the retirement but in this case we're talking about wealth creation legacy creation where no matter what whether you got up Monday through Friday to work your money will still make money okay that's the whole idea there that's cool I think that's where people mix up the retirement theory that you're gonna get to live that life where no matter what my money makes money it will never do that in a retirement account because you're liquidating it you're liquidating it you want to have something that will no matter what continue to produce even when you extract money from it it'll still it'll make more than what you extract and we'll never lose value see retirement counts are meant to be liquidated go all the way to zero for the rest of your remaining years here on earth not smart okay last but not least you need to go into conservation mode okay and here's where I'm gonna come over here alright conservation mode like uncle G says right gotta go into conservation mode you got to stay broke okay stay broke why are you keeping up with that John says what are you doing no that doesn't work man so you know listen to a guy like Grant Cardone listen to a guy like Tony Robbins and Gary Vaynerchuk look how they dress they're not impressing anyone right now they have so much money they got dumb money it's just dumb it's just so much that they have to buy all that crap so that they can minimize on taxes even further all right but I can promise you a guy like Tony Robbins Grant Cardone Gary Vaynerchuk John Maxwell who's the other one Robert Kiyosaki they did not start out buying lavish things going into immense amount of debt no they were driving Toyota Camrys they were driving beat-up cars and just staying at that and stacking cash cuz they know they know okay listen I got a key word for you repent okay when you're in conservation mode when you're in this mode right here before starting velocity banking repent it's not a religious word for my religious people get out of here with that way of thinking not talking religion okay if you don't like that word it means change change your way of thinking did you know that the average American spends nearly nine hundred dollars a month on subscription subscriptions yeah that's phone bill cable internet you know the Netflix the Hulu the Amazon the audible the Dropbox the iTunes the Spotify the Pandora you don't need that temporarily you can do without imagine imagine going without cable for one year what's the average cable bill like $250 at least 200 in every state at least if it's lower it's because you're like military you got some kind of deal and your HOA or in your community but for everyone else especially in major cities 200 plus 250 3 300 times 12 that's $3,600 cash flow do you need cable you need Wi-Fi I will agree with you Wi-Fi has become a need because we're in this digital world like I think in order to learn anything now and fast internet man need that cable you don't need cable cables garbage it's not teaching you anything it's actually wasting your time killing you slowly okay redirect that money back to your cash flow that's all I'm saying can you go without Pandora for a year and Spotify and and Hulu and the Netflix and the net and the Pandora all that I'm saying it all over him because there's so many Amazon audible all that now after we've done this okay let's say we've got this down okay and we're and we're cash flowing five hundred plus or more maybe a thousand okay now we we got to keep grinding our mindset right we got to learn some kingdom principles okay again I'm not no I'm not hitting religion I'm hitting principles truth okay you don't like that word look learn return put that into your mindset learn earn and return I got that from a wonderful company called Renatus okay and they're a real estate investment company a real estate educational company sorry learn earn return that's what they live by I live by a fantasy league okay where I get my information from okay fantasy league Denzel Washington Grant Cardone Tony Robbins Gary Vaynerchuk Myles Munroe okay John Maxwell Robert Kiyosaki all right try to keep your fantasy league minimal you know where you can count them on your hand don't go to broad because you get if you try to get information from Grant and then you try to get information from Dave Ramsey and then Suze Orman you're gonna be like I don't know what to do cuz I'm lost okay let's not do that so let's say we've accomplished that cool we got that down now we need to learn how money works okay currently this is how money works for most Americans you get a paycheck which then goes into the checking account oh and then pays the bills right it pays other bills once it pays other bills you have a money leftover okay some of you most people don't 80% or more paycheck to paycheck so sometimes this number is zero meaning no money left over or sometimes there is some money left over but where does it go you try to save it you try to invest it and you spend it right because you're so fed up living paycheck to paycheck that you want to just order a pizza right you want to just order Chinese food or you want to go to the mall and run that Macy's card up and you're paying 26 percent on that Macy's credit card when you could have just went to an outlet paid half for what you you know spent or you could have went thrifting and got the same exact clothes or you could have went online and paid him in less just saying bro so you got to get out of that right you got to get out of this mindset about how money works for you and start getting with how money works for the wealthy for the rich photo wise for the saved okay velocity banking okay the idea of using other people's money or debt or an asset to acquire more assets to pay expenses and that expenses that you're no longer paying and the assets that the cash flow produced pays you back which pays back the debt okay I know I went a little fast but I'm gonna explain it ready I make income okay everybody that makes income however you make it it goes into an account let's just call it a checking account okay goes into the checking account alright before you do this use your cash to pay bills we acquire our debt weapon what our line of credit class unsecured line of credit personal line of credit business line of credit he lock credit cards an asset a life insurance policy cool that's our debt tool all right all calculated simple interest okay very important simple interest right here's what we do whatever debt weapon we have you're going to do this link the account you're going to link the checking account to the debt tool okay that weapon is linked to the checking account here's what we do whatever amount on that line of credit is okay we are going to strategically make what's called chunking a chunk a big chunk amount of money to acquire the property right cash buyers right the wholesalers out there in the world get it cool right for everyone else chunking add a specific amortized debt or bad debt okay and right then and there in that very moment we are using other people's money we're using the bank's money other people's money okay which is going to pay off our bad debts okay when I pay off that bad debt I just created a new debt for whatever I paid off right the new debts right there but see the difference is the interest that I pay and how it is calculated got it now as soon as I pay off that debt the monthly payment that I was making becomes what becomes cash flow which then goes into the checking account plus the money that I made throughout the month by weekly weekly however it is you get paid right and before you pay the other bills that you have all this cash gets where it goes it's linked so you're gonna make a transfer a chunk transfer of your entire income into the debt tool okay the next thing you're going to do is withdraw whatever you need on a daily or a weekly basis to pay your bills okay we used the debt originally to pay off one specific debt at a time to wipe it out or maybe multiple at a time all depends on this right income expense debt cash flow right whatever cash flow gain I got from no longer paying those bills it's gonna flow here to the checking account that money's gonna get dumped into the debt tool why do we do that because you just created a debt there if you don't pay that guess what you're paying debts in two locations hence you borrowed rebar from Peter to pay Paul to avoid that by using this money one time to put it here right which satisfies the payment on that debt tool which also cuts off interest costs from accruing to then use the same money again to do what pay the bills and live in the process of doing velocity banking oh my god so much money is saved ready I'm saving money by doing velocity banking I'm becoming that free creating increased cash flow which is satisfying the goals of becoming debt-free and financially free and not have to worry okay gets me out of conservation mode after some time okay so by doing velocity banking I'm able to save invest and spend all at the same time with the same dollars that is why we do what we do here on this channel because like I said the money the money has no value so to try to split up the money even more after it has no value makes even worse where you actually lose money by saving you lose money by investing poorly right because you don't know what you're doing most people do not know what they're doing that as they truth that's the truth hence 80% of Americans living paycheck to paycheck because we don't know what we with our money which is why it's my passion to release this education unto you so that you may prosper that you may live a generous life and be a bless a blessing and a cheerful Giver because you understand Kingdom principles right which is the concept of giving and receiving having authority educating yourself increasing information so that you don't perish in this world from this my name is Denzel have yourself a wonderful day god bless

Channel: Denzel Napoleon Rodriguez

Views: 38,966

Rating: 4.7810526 out of 5

Keywords: velocity banking, debt pay off, debt acceleration, personal finance, money, cash flow, how to keep more money, velocity banking introduction, velocity banking step by step, debt free journey, debt free journey progress, debt free journey 2019, denzel rodriguez

Id: 7Rpqz8nIvHc

Length: 27min 6sec (1626 seconds)

Published: Thu Nov 15 2018