And, you know, I run and lead the Project Money program, and it's this reality-based financial challenge where we have adults who are living paycheck to paycheck. You know, that looks so far distant into the future for most people, especially since we're talking about teens, when they're just figuring out how to save their money and spend their money. So what do you think about that definition and how would you apply that with your daughter and what you teach her at home?ĪMY: Oh, gosh. So, Amy, what do you think about that definition from Wikipedia, which, you know, anyone can contribute to Wikipedia and generate content there. Financially independent people have assets that generate income or cash flow, and that is at least equal to their expenses. So Wikipedia defines financial independence as having enough wealth to live on without having to work. So to frame our talk today, I have Wikipedia's definition of what financial independence is. Welcome.ĪNGELA:So today's topic of conversation is financial independence for teens specifically. She's also responsible for leading Summit's signature financial education program called Project Money. I am delighted to have with me, Amy Crowe, a financial education specialist and certified financial educator with 20 years of experience teaching people about money. Our Money Smarts podcast is just one way we engage members in the community in conversations about money that inspire you to spend smart, save more, and take action to build a richer life.ĪNGELA FITZGERALD WARD:Welcome to Money Smarts, I'm Angela Fitzgerald Ward, financial education coordinator with Summit Credit Union, and I'll be your host for our time together today. As a not-for-profit financial cooperative, Summit Credit Union exists to improve our members' lives and help them reach their dreams. HOST:Welcome to Money Smarts, a podcast of Summit Credit Union, where we connect people and inspire action to create member and community wealth. By creating solid money habits at a young age, you can set your kids up for a successful financial future. In this episode of Money Smarts, a podcast of Summit Credit Union, we're discussing tips you can use to prepare your teen for financial independence. This is my idea of a Time Freedom Clock – the typical timeline for quitting your job with multifamily.How to Train Teens for Financial Independence Over and over again, I’ve observed that once an investor closes on their first deal, they achieve financial freedom very quickly-and with little effort. But what if I told you that all you really have to do is get one multifamily deal under your belt? It’s overwhelming to think through how many doors you need to quit your job with real estate. There are six seismic shifts you need to make to quit your job with real estate.įinancial Freedom and the Curious Law of the First Deal So, what mindset shifts do you need to make to become a successful multifamily investor? But I’ve since come to understand that until you get your head straight, you won’t take action. I used to dismiss mindset as the key to success. Why is the Financial Freedom Mindset so Important? Not to mention the fact that it’s essentially recession-proof! On the other hand, investing $100K in multifamily will buy you a $500K asset-and earn you five times the return. Even if you happen to be brilliant at options trading, $100K in the equity market will still only buy $100K in assets. Investing in the financial markets is stressful, especially in a crisis. Will Is Multifamily Investing Better Than The Stock Market For Achieving Financial Freedom? Build your confidence so you can find financial freedom with multifamily real estate investing.Get indirect high level coaching from Michael Blank and Garret Lynch.Tangible information and lessons from expert guests.Why Should You Listen To The Financial Freedom Podcast? My passion is helping others become financially free with real estate, specifically by investing in apartment buildings.Syndicating deals is the best way to build wealth without requiring your own money or credit. If you want to learn how to invest in apartment buildings by raising money from private individuals, this is the podcast for you!
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