The 3 Core Money Elements

Key Takeaways

  • Good money habits are built around your cash flow, taxes, and balance sheet.
  • Review your cash flow, taxes, and balance sheet on a regular basis. Don’t hesitate to make the necessary adjustments so you can keep them in balance.
  • Your balance sheet should provide assets for the short term, intermediate term, and long term. Lean toward investments that are tax-advantaged.

What Would You Die For?

Key Takeaways

  • Asking the question, “What would you die for?” can illicit many interesting and serious responses from different people.
  • It’s an interesting dichotomy between saying we’d pay anything to save the life of a loved one, but in our everyday lives, we complain about making the small payments.
  • We tend to lose track of what money really means and can get very myopic about it.

Rockefeller Rules!

Key Takeaways

  • Saving before you spend, using other people’s money wisely, and making compound interest work in your favor will give you a big leg up in your financial life.
  • Staying well-informed about taxes and applying time and discipline to investment management will keep you on the right track toward building wealth.
  • Saving 20 percent of what you earn is a great lifelong wealth-building discipline to have.

5 Key Money Issues

Key Takeaways

  • There are five issues that successful investors have when it comes to their wealth.
  • The five issues are wealth preservation, tax mitigation, wealth transfer, wealth protection, and charitable giving.
  • Once you’re in the stay-rich game, you don’t want to go back to the get-rich game.