do more for others
people can be sincerely but sincerely wrong
principles than wealth
complex by nature so that investors can make fees
parent legally responsible to put your interest in front of their own
jfk
ralph waldo Emerson imitation is suicide
as a man think so hearth will be
Carnegie Abraham victor Frankel
envy is ignorance imitation is suicide he must take himself for better or worse as his portion
never settle for less for be or do or give
passive way to win, don't put all eggs in 1 basket
no matter how smart you are, you are going to be wrong, safety net for wrong
asymmetrical risk reward, low risk high reward
high tower stronghold
kindness words makes confidence
kindness thinking makes profoundness
kindness giving makes love
no man is free unless you are master of yourself
complexity is the enemy of execution
phone app, masterthegame
3 levels understanding, emotional mastery, physical
investment people with money end up with exp, people with exp end up with money
random walk in wall street book
compound interest over time
don't leave by means, don't' live beyond means
work for money, instead money work for you
you can always get more money but you always cant get more time
time cannot be missed, precious
what it is we are actually working for after all
Before you speak, listen.
Before you write, think.
Before you spend, earn.
Before you invest, investigate.
Before you criticize, wait.
Before you pray, forgive.
Before you quit, try.
Before you retire, save.
Before you die, give.
anti time machine
you get what you
what it is you are actually working for after all
zero sum game, you get back what you put in
time for money trade
you give away what you value most, time for exchange for what you need most, money
financial freedom
i don't have time wasting time making money
automatic savings
bargain at massive pessimism
buy stocks at $1, winter has spring later
the most difficult is act, the rest is tenacity
50%
investor, not just consumer
needs certainty
uncertainty and variety
significance
love, connection
growth
contribution
master self
appreciate more, expect less
wealth is gratitude
life happens for you
mastery not just pleasure or pain for many
mutual funds are not way to go
96% of any mutual funds fail, all your assets go to the house and your broker gets paid regardless. gambling
you need index fund, such as dow jones, s&p, just invest in beating market with market
don't pick stock or time the market
professional stock pickers cannot pick
don't pick hedge funds, funds that are only available for rich
passive investment, go with the flow
people are bad investors, go on emotions, bull market, buy high sell low
do not get mutual fund manager
nobody is consistent with picking stocks every time
bear bull sideways market
low cost index funds the way to go, passively owning the market
progress growth expansion
commodities index
real estate index
short term bond index
long term bond index
gold index
stocks volatile, but ensures long term growth
mutual fund, largest skimming operation
vanguard, low cost index fund
3x in fees and inferior performance for mutual funds
hidden fees 30k min for a decade
154k for 401k in fees
personalfund.com
401k, save 10%, but pay half in fees
conflict free advice
average returns for 100k, you lose 47.5k for breaking even
average returns are time delayed and falsified
the chef does not eat it's own cooking, fund managers don't invest in their own funds
high tower
charles schwab RIA's
strongholdfiniancial.com
free advice
find fiduciary
find findanadvisornapfa.org, fee only advisor
wide ranges of competence
small have less access to best
1state SEC IAR, RIA
2precentage of access under management, 12b-1 fees pay to play fees, no fees
3does not receive compensation for stocks and bonds
4do not have affiliation with broker dealer
5fidelity, schwab, td ameritrade, need 3rd party custodian
monthly statements and direct access
save at least 30% of money
vanguard do not do pay to play
market mimicking mutual funds, megaphone
americasbest401k.com, find fee checker
fidelity, caterpillar general dynamics, avoid
half of your 401k is yours due to taxes
do roth IRA, tax while seedlings are small until later where big harvest is taxed
make it roth eligible
taxed later has less deductibles
money you get what you tolerate
target date funds are not good
annuities, vague some good some bad
lifetimeincome.com ...annuities
protect the downside
if lose, nothing is lost, if won, huge upturn
don't lose money
risk less returns
disproportionate rewards
not keep all of upside for downside protection, structured notes
guarantee is only as good as backer, Canadian bank
structured engineered notes
market linked CD's, FDIC returns, 5% of market returns, but lose nothing
do fiduciary advisor for less fees
fixed indexed annuities, FIA
no learned helplessness
you get what you tolerate, upgrade standards
need fiduciary instead of broker
tdf's are not good
fixed annuities are lifetime income stream
breakthroughs
finance relationship body
strategy story state change
use a story
story will use you
viewing stress as good for you for challenge is better
divorce story limitations and marry the truth
changing movement changes states
erratic change
massive action
fear is physical
power poses, body hormonal changes testosterone, less cortisone
write down everything you want to eliminate and enhance
this ends here, new life starts today
strategy
breakthrough
state story, breakthrough
stop tolerating excuses within yourself limiting beliefs of the past, hassled or fearful states
will determination commitment
problems are speed bumps on the road of your dreams
one of the few who step up
spirit is unlimited, call bs on yourself
change truth state focus, adjust approach and go after what you want
discipline disappointments
learn from failures
make the game winnable
price of dreams
write it down
10 million
seek significance, someone else is always better
never be fulfilled
if you pick a number too high, subconscious rejects don't work
need absolute certainty
role model, massive action
certainty ensures action
don't have uncertainty
rent gulf streams and islands
life is about lifestyle
time freedom opportunity
money is not goal
if you cant manage if you don't measure
financial security vitality independence freedom, absolute
wish, plan
pay forever
34000 per year
10% income
roth IRAs low fee index funds 6% growth
640k is 65% overhead pay forever
financial vitality
clothes and stuff
financial independence 150k
absolute 2million
total 7 million
freedom, luxuries
contribute
absolute financial freedom
give freely live on own terms
you don't have to own, just be partial owner
13.5m
you are creator of your life, not just managing the consequences of your life's consequences
hunger, desire laser like focus
consciously created
law of familiarity, taken for granted if familiar
desire, unleashed
never go back
focus goes energy flows
reticular activating system, subconscious noticing more
things flow to you when you do your part first
grateful, no anger, no fear
level with yourself with candid picture
only play your own hand
you don't win by amassing cash
you in by living within your own terms
needs and stick to it do not chase someone else's goal
plan is about you
stop racing to win the race
appearance of advantage, track is oval
psychological edge
guy in front advantage? moral boost? boost of confidence? or take away drive?
guy in back underdog? run faster to compensate?
illusion not reality, no one is
not competition
not how we start but how we finish
personal journey
be better than yourself
choose own adventure
your control
save more tomorrow plan
higher level people depressed pissed off or inspired
what you get never makes you happy, what you become does
architect of life's experience
if everything seems under control, you're not going fast enough
find time in day
freedom in life
having more than you need or needing less than you have
cut interest payment
prepay next month's principle
the bankers secret book
cut mortgage in half
pay in 15 years instead of 30
save money, half million dollars over time
book automatic millionaire
cost vs joy, if less joy than financial freedom, eliminate
understand become more valuable in the market
have more, become more
become better
things change, you change
you get better
pay for value not time
learn to work harder on yourself, become valuable
do more for others for less time
invest yourself
creativity courage contribution focus
make a product you wanted to use and others will follow
fail your way to success
take off fear factor
disrupt a company, market
reduce fees and taxes reinvest
tax efficiency pay less taxes
income tax
long term short term capital gain
tax deferred
compound tax free
mutual fund 38% taxed
taxes 28% is what you keep
diversification lowers risk
72 years to double
4x to 18 years
housing first trust deed
rent food transportation
less spending on taxes
howmoneywalks.com
need less tax rates
palm beach
texas
Washington Wyoming
Oregon
paces to live under 75 a day
costa rica
life bicycle, keep balance by moving forward
asset allocation
money market deposit account better interest, higher rate of return for bank account
us treasury money market fund, for us debt
cds
bonds seesaw effect of bad econ is good and good econ is bad
best time to buy, stocks and housing in 2008
don't bet your own house when investing
structured notes
canadian banks are better
allocation is an art
municipal bonds?
low cost low fee cost index bonds
book invest like the .001% the billionaires playbook
refuse to lose
gold, no income, but good
domestic stock 20% vanguard 500 index, Wiltshire 5000 index, risk, lost it all, unlikely, equities volitle over time, risk/growth
internation stock 20% diversity, not as stable, currency risk, risk/growth, mcd's ibm
emerging stock markets 10%, developing nations, brazil, indonesia, Vietnam, south Africa, risk/growth
reit's Real Estate Investment Trust 20%, risk/growth
long term US treasury 15%, lower returns and safety, security
TIPS Treasury Inflation Protected Securities 15%, security
security, inflation, deflation
treasury for deflation
TIPS, for inflation
offset risks
stocks outperform bonds
stability through diversity
indices to represent each assets class
20% Wilshire 5000 Total Market Total Return USD
20% FTSE NAREIT All REITs Total Return
20% MSCI ACWI Ex USA Gross Return USD
15% Barclays US Long Credit Total Return USD
15% Barclays US Treasury US TIPS Total Return USD
10% MSCI EM Price Return USD
re balance quarterly
Dalio portfolio had a higher average annual return and significantly less volatility
women tend to be better investors because they don’t overestimate their abilities to anticipate the future accurately
Dreams are the touchstones of our character
burning passion to earn more save more add more value, better investor, tax efficient, life style change
decide today, list dreams
save for them
don’t settle for cheese and crackers on this journey; enjoy everything that comes with it
the secret to wealth is gratitude
It’s not just what we achieve or accomplish. It’s what we appreciate. It’s not just the adventure of a cruise. It’s what we take the time to enjoy
There are jackpots everywhere if you wake up to the beauty of your life today. So don’t vow to someday get beyond scarcity; start beyond it. Realize how lucky you are and all the wealth you possess in love, joy, opportunities, health, friends, and family. Don’t get rich. Start rich
Be fearful when others are greedy, and be greedy when others are fearful
lump sum not that good
re balance all your gains and losses quarterly so that your gains go to security so it's the same percentage allocated
need discipline to balance so more probability of winning over time
need deferred on taxes instead of income taxes for investing
ask specific questions
How the Economic Machine Works—In Thirty Minutes video
unconventional wisdom
don;t over invest in stocks, balanced budget
seasons:
1. inflation,
2. deflation,
3. rising economic growth, and
4. declining economic growth.
best portfolio, all seasons portfolio
7.5% gold
7.5% commodities
30% stocks
15% intermediate us bonds
40% long term us bonds, counter stocks, balance risks
economicprinciples.org
other portfolio are good, but cannot be good to stomach, don't pull out, take great hits
income tax free
climbing down the wealth ladder after retirement is key, landing the plane
don't outlive money
annuities, income for life
growth tied to market index
immediate annuities, mortality credit
pooling income, people who die leave money on the table for you to take
income insurance
get term life insurance so that money would be returned
1. Fixed annuity: This is where you get a fixed, guaranteed rate of return every year (independent of any stock market ups or downs), very much like you would receive with a CD or bond, but the rates are different.
2. Indexed annuity: This is where your rate of return is tied to how the stock market does, but you get a percentage of the upside of the market (not all) with no downside and no possibility of loss.
3. Hybrid “indexed” annuity: This is where you get the benefits of an indexed annuity with the addition of a “lifetime income” rider. This lifetime income feature gives you the ability to turn on a paycheck for life! (Note: technically speaking, there isn’t a product called a “hybrid.” However, it has become a common name among professionals to describe the category, which includes the lifetime income feature.)
don't do variable annuity, has mutual funds
advanced life deferred annuity, no tax on income payment
longevity insurance
fixed indexed annuity, your deposits remain entirely in your control. You are not giving up access to your cash.
• It offers the potential for significantly higher annual returns than other safe-money solutions such as CDs or bonds.
• It provides a 100% guarantee20 of your principal—you can’t lose money.
• The growth is tax-deferred, providing maximum compounded growth for the expansion of your Freedom Fund.
• It provides income insurance, or a guaranteed income for life, when you select an optional income rider.
advisorsXL
fixed indexed annuity is fixed, which means your account is guaranteed never to go down. No matter what happens, you will not lose your original deposit
In recent years, there have been a few unique products that allow you to keep 100% of the market/index gains and, yes, still avoid the down years! There is no cap on your upside. What’s the catch? Instead of putting a cap on your annual gains, the insurance company will share in a small portion of your gains (1.5%, in many cases). So let’s say the index/market was up 8% in a given year; you would receive 6.5% added to your account,
annuities are at 50
lifetimeincome.com
annuities regardless of age
strong hold annuities specialist
Barclays Dynamic Balanced Index (a mix of stocks and bonds) or the Morgan Stanley Dynamic Allocation Index (a mix of 12 different sectors)
private placement life insurance (PPLI)
• unlimited deposit amounts (with no income limitations)
• no tax on the growth of your investments
• no tax when accessed (if structured correctly) and
• any money left over for your heirs cannot be taxed.
Less than 20 basis points. And you can get it through a mutual fund offered by Vanguard
your tax bill is going to be lower
find bargain, sell if there is better bargain
indestructible, hacket
The key to abundance is meeting limited circumstances with unlimited thoughts
nasa bureaucracy too slow
Indestructible and Hack It!
Maker Faires
if what you learn leads to knowledge, you become a fool; but if what you learn leads to action, you can become wealthy. Remember: rewards come in action, not in discussion.
money that he began to realize that it had very little meaning—unless he used it for something beyond himself
be grateful, forgiving, and compassionate
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