References and Reflections: The key to learning about how to make money investing is to START!

SIT – “Start Investing Today! “

Pay yourself First and Build a Foundation Plan, Budget to Invest, Get Out of Debt, Participate in the Stock Market. 

Example:  Using an annual salary of $50,000 you should plan and commit to investing 5% or $200 per month into retirement account. Pay yourself First for your Future!

We will use dollar cost averaging to build a long-term plan using fractional shares.

Also, I choose these Exchange Traded Funds or ETF’s because they all have Low Expense Ratios

and a High Risk vs. Reward scale.

Why Invest with ETF’s and Index/Mutual Funds

• Diversified in a basket of stocks
• You can work and live without having to watch a computer screen
• They are Passively Managed by a Fund Manager who diversifies each fund
• It’s a Broad-based approach to investing

Long Term Lifetime Investments 

• Real Estate or REIT (Real Estate Investment Trust)
• Gold, Silver, Copper, Platinum, or other precious metals and mining stocks
• US Treasury Bonds and CD’s
• Money Market Savings and Bonds

Helpful Tips and Information 

Tip For Your Mortgage

Making 13 payments per year on your mortgage will reduce your debt 9 years on a 30-year mortgage. NOTE: Ask your mortgage provider to apply the 13th payment to “Principle Only” each year.

Must Know When Buying Stocks (From Any Company)

• What are the Earnings Per Share (EPS)
• How does the Profit/Loss Statement look
• What is the Performance history of the stock (Average Returns) ROI or Return on Investment
• Invest in what you understand (Learn more about your investments before investing)
• Avoid companies with too much debt
• What is the company’s competitive advantage in the Market or Growth Strategy

Your MINDSET

Focus on Your Goals

Your Goal Must be Specific, Measurable, and Attainable.

Be Intentional Everyday. Do It. Prioritize your Time.

Networking: How can you add value to a person, group, or organization. Give and Ask!

Learn to value who you are inside and not what you wear outside. Happiness is an inside job.

Most people do not “Plan to Fail but Fail to Plan”

Adjust your Lifestyle to Live Better and Longer

Happiness equals savings and investing.

Explain the difference between Trusts and Wills

Trusts and wills are both estate planning tools used to manage and distribute assets after someone passes away, but they serve different purposes and have distinct characteristics:

Wills:

• A will is a legal document that outlines a person’s wishes regarding the distribution of their assets and the handling of their affairs after their death.
• It typically names an executor or personal representative who is responsible for carrying out the instructions outlined in the will.
• Wills can specify who will inherit specific assets, designate guardians for minor children, and address other important matters, such as funeral arrangements.
• Wills go through the probate process, which is a court-supervised procedure for validating the will, paying debts and taxes, and distributing assets to beneficiaries.
• Wills become public record after going through probate, which means the contents of the will are accessible to the public.

Trusts:

• A trust is a legal arrangement where one party (the trustor or settlor) transfers assets to another party (the trustee) to hold and manage for the benefit of a third party (the beneficiary).
• Trusts can be established during the trustor’s lifetime (living trust) or through their will (testamentary trust) and can be revocable or irrevocable, depending on the terms of the trust.
• Trusts can provide more control and flexibility over the distribution of assets, as they can specify conditions and instructions for asset management and distribution.
• Unlike wills, trusts typically avoid probate for assets held within the trust, which can save time, money, and provide privacy for the beneficiaries.
• Trusts can also offer additional benefits, such as asset protection, tax planning, and special provisions for minor children or individuals with special needs.

In summary, while both wills and trusts are important estate planning tools, trusts offer more flexibility, privacy, and potential benefits compared to wills. The choice between a will and a trust often depends on individual circumstances, including the size and complexity of the estate, family dynamics, and specific estate planning goals. It is recommended to consult with an estate planning attorney or financial advisor to determine the most appropriate strategy for your situation.

Quotes:

“Success is not a Choice, Success is a Decision!” (Me)

Rich people stay rich because they pretend to be poor and poor people stay poor because they pretend to be rich! (Nuri Muhammed)

“And be not conformed to this world: but be ye transformed by the renewing of your mind, that ye may prove what is the good and acceptable, and perfect, will of God.” Romans 12:2

Recommended Books for Reading

The Millionaire Next Door – Thomas J. Stanley

U2(squared) – Price Pritchard

The BIBLE – God (The Most High)

The Compound Effect – Darren Hardy