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Reality Check, The Hard Questions to Ask Yourself

Do you know how much money you need to retire comfortably? Know how much you need saved up or should expect to have stored away for that day? In this video, I would like to discuss financial independence and propose questions for you to ponder today.

I hope that the videos that I have been sharing have been useful and beneficial to you. My goal is to bring a ton of value to each and every video. I wanted to talk about financial independence and provide a quick reality check. Is your money in the bank savings account or a CD, maybe even a brokerage account? If the answer is yes, then please watch my YouTube video on “Why People Fail in the Stock Market” link in the comments section below.  Only 15% of Americans invest in the stock market on average and I shared in that video, most of them don’t get much better than a 2% return on their money.  In these accounts, your money is at risk of loss and can’t grow to its full potential, it doesn’t take advantage of what Albert Einstein called the 8th wonder of the world, compounding interest. 

Do you have a strategy to pay off your car, student, or mortgage loan fast? What I came to realize is that even debt can grow with compounding interest. Yes, if structured correctly, even your debt can make you money using the power of compounding interest. Most people pay 6% on car loans, 4% on student loans, 22% on credit card debt, and if you have a mortgage on average it’s 5% or maybe you rent in which case you aren’t building equity in passive income real estate. If you add all this up, how much does the average person pay every single month? How much do YOU pay every single month? How much interest is your money-making in Citibank or Wells Fargo? At 0.01% the amount of years it would take for that money to double using the Rule of 72 and Compounding Interest, it’s about 7,200 years. If you take all that you have right now, do you see a path to financial independence in the next 10 years? I have bad news, I don’t think you’re going to make it. I recently heard a statistic that most Americans around age 40 or younger will end up either dead or dead broke by age 65.

What is your Financial Independence Number or FIN if you have a pension plan? How much do you need to live comfortably when you are not working because of choice or are no longer able to work? How many more years are left on your mortgage after your retirement age comes to pass or how will you continue to pay rent if you don’t own your place of dwelling? Want to be stuck eating a cup of noodles for the rest of your life? How about vacations? What if you get sick and start to rack up those medical bills? How much of an epidemic is financial hardship in the United States? All you have to do is visit to see for yourself.

How do you see your retirement playing out? What do you currently dislike about your current retirement plan? I got my license as a financial professional because these were the questions I asked myself and needed answers for that led me down this path. I found my answers and want to help others sleep better at night knowing they also have secured their financial future. So many people are asleep at the wheel and don’t realize where they are going. I am here to help be the GPS you need to get to where you want to go, do what you want to do, avoid having to go back to work later in life.

Most people put their money in a bank account and do nothing but do so because it’s safe, but it doesn’t grow that money. If the rate of inflation is over two percent a year and jumped to closer to five percent over the last year, then when your savings account at Chase Bank gives you 0.01% a year, you’re actually losing money.  Few people, about 15% of the population, put their money in the stock market or mutual funds because they believe it can grow, but don’t fully understand what or how they are invested and are gambling with their money and have to sleep with one eye open. The market crashed in 2000, again in 2008, with what COVID has done to the economy, don’t you think we are due for the next correction soon? Let me show you an alternative to these options that allow you to sleep like a baby, well, along with a healthy lifestyle. I want to introduce what the wealthy American with the right plan does with old money to preserve their wealth and you don’t need a million dollars to do it, and if you do have millions of dollars, I can show you how to make your last name live on for generations. I do what I do to share the secrets of how to save money in accounts that grow and secure it so that it never loses a penny as it grows, even in down markets, it’s always growing no matter what. The secrets of the financial success of the Rockefellers and Kennedys are never taught in school. Let’s secure the future with an income-replacing account.

One of my mentors shared a story of a lady whose husband had lost over $600,000 in 2008 in the stock market and in mutual funds, because of the stress she lost her husband, he passed away in 2009. My mentor told her, “We can’t go back and change what happened, I also believe that everything happens for a reason and that God has brought you here before me to hear this message.” Thank you Emmanuel Tita for sharing that moving story and how you helped her and the rest of her family. He later came to share that he finished his conversation with the widow saying, “I am very sorry for what happened to you and your family, we can start right now and change the end of your story.”

I know life is hard, life throws out unexpected challenges, I hear you, we all have a story, we all have our struggles, we all have a past, but today, right now, you have a choice to stay in the past or chart your course for a brighter future. I am here to show empathy but not sympathy, otherwise, we aren’t moving forward. There is a reason why the car has a large windshield and a tiny rearview mirror. 

So when should you take action? Today! What I do isn’t for everyone, you need to qualify and I’ll be honest with you if it doesn’t make sense in your case. There was a couple who we created a plan for after they went back and forth for a few months and after we finally submitted the paperwork, they were denied because the husband was diagnosed with prostate cancer. If they had applied just two weeks before or shortly after we offered them an illustration, they would have been accepted and set and had secured their future.  Don’t wait, set up a time with me today. When we meet and I create a plan, it takes a few weeks to see if you qualify, there is no decision to be made right away, there is no obligation, if I can’t deliver on my promises, then you walk away with at the very least a world-class financial education.

Feel free to comment below or send me a message from the website on the “Get in Touch” link at the top of the page and please like and subscribe to the channel so that you don’t miss any future educational videos. Don’t ponder for too long, reach out to me to learn more about what we can set up to secure your financial future before it’s too late to do so.  Have a healthy and happy week.

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