CD 1: Super Savers

• Savings must become a priority!
• Give
• Save
• Pay Bills

Compound Interest @10% (*30y morgt. 98% 1st 2y goes to interest (financial progression from bottom to top)
$1000 – 100/mo.
1100
110
1210
121↑

(my notes: The Law of 10%/Reciprocity)
$2000 (19-26y)= 27, 000 (Mutual Fund & Money Market)

• (7) Steps to Financial Freedom

1. Emergency Fund – Put $1000 in the bank (3-6mo. personal expenses around 10k). *Protection only! Do not touch it!
2. Sinking Fund – Save & Pay cash for things such as furniture ($211/mo. – 18 mo. = $4k). Not 90 days same as cash…!
3. Wealth Builders – Remove every source of debt, except the house. (Top 3-4% high net worth.)
4. Long term investing – 15% into retirement.
5. College Fund
6. Pay off home!
7. **Build a ton of wealth and give a bunch of it away!

Learn to delay pleasure. Devise a plan and follow it.

• Transfer of Wealth:
• Savings $1000 @ 2.27% int. (Bond – loaning to bank) CD-6%
• 25-65y = 10k
• Double return @ 12% = 12% 93k (Mutual Fund)
• Triple return @ 18% = 750k (Aggressive Growth Fund)

***Cut up credit cards. This is not an emergency fund. Life happens w/o a plan!