Mrs. Dow Jones provides a clear, actionable, and motivational roadmap to help you achieve your first $100,000 in net worth. Her approach focuses on building strong financial systems, adopting a future-rich mindset, and staying consistent with your efforts. Here’s a breakdown of the steps she recommends: Step 1: Build Your Emergency Fund Before you start growing […]
Finance
Financial – What’s the order of Execution to meet financial obligations for life
Personal Finance Order of Operations: 1) Create a budget to figure out expenses 2) Build a 1-month emergency fund 3) Maximize employer 401k matches to let free money compound 4) Pay off high-interest consumer debt 5) Save 3 to 6 months of expenses in an emergency fund The Financial Order of Operations: 6) Maximize Roth […]
Easy formulas to help new investors know if a rental property will cash flow.
The 1% rule This rule states that when buying a property, the goal “should” be to have monthly rent be at least 1% of purchase price. Ex: If price is $220,000 you would want rent to be at least $2,200/mo. The 50% rule This rule states that on average, ~50% of total gross income “could” […]
Insurances needs for day to day life
– Life – car – Health – Umbrella – Long term disability – ID theft (“insurance”) – Audit Insurance – Property Insurance
Individual Retirement Accounts (IRAs)
Individual Retirement Accounts (IRA) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the Internal Revenue Service. There are several types of IRAs available: Rollovers A rollover is a tax-free distribution of cash or other assets from one retirement plan to another retirement plan. The distribution to […]