READ THIS BEFORE YOU SAVE YOUR FIRST $50,000

By Joey Ortiz

DISCLAIMER: Links in this post may contain affiliate links. Please read our disclosure policy here.

Who we turn out to be in life, depends greatly on our early life experiences. It shapes us as a person and our personalities.

That also holds true for the experiences we have with money as a young person. It could seriously shape our whole mental outlook on finances and how we go about getting it.

I’ve always been really good at saving money. But I saved in order to buy stuff that I wanted. No one, in my family, trade in the markets, or own Real Estate or have their own business.

With no entrepreneurs in the family, it is a trait that I couldn’t learn or follow. I followed the same path as everyone else around me. I grew up in a middle-class family with high morals and values, big in sports, but mediocre in financial education.

Now, in my 30’s, my eyes have been opened to a new lifestyle. The best thing is, that lifestyle is reachable. I just have to work a little bit harder than someone younger. But I’m setting myself apart from everyone else to include family, friends, and peers.

When I say a new lifestyle, I don’t mean filthy rich and do nothing. What I mean is, a life where I can work and do what I like at the same time that my money saved is also working for me, growing and making my life easier. I don’t have to wait until retirement to enjoy it. I can use mini-retirement vacations every year and enjoy life while I’m still healthy and able to do so. Waiting until my 60’s to enjoy my money doesn’t make sense to me. How do I know if I’m still going to have good health then?

With that said, I started reading away more books about money and investing in the last 2 years than ever before in my life. (For reading books faster, read until the end).

No doubt in my mind those books changed my way of thinking about money forever. They are shaping my financial self, and they are leaving me with a nice positive cash flow which helps me cover my monthly bills and then some. Which makes me envision even bigger money goals aiming to not just help myself but my immediate family as well.

I encourage everyone to read them if you haven’t done so yet. They will transform the way you think about money and will definitely help you increase your wealth.

These are the most important books I read which have helped me save and invest my first $50,000 in only 2 years. To me, this is a milestone that could have not been possible if not for the part played by the knowledge inside. Of all those books, the ones that have stood out the most to me are the ones that follow.

1. The Millionaire Next Door

This book unmasked the typical “Millionaire” on the streets. The ones that have a lifestyle that is funded by debt and can barely find any money to spare. The authors realized that most of the millionaires in this country live just like the rest of us.

They are (PAW) or prodigious accumulator of wealth. The ones that have the lifestyle but not the income to support it are (UAW) under accumulator of wealth. Most people are (AAW) average accumulator of wealth.

You will also find in this book a simple net worth/wealth formula that will reveal to you where you stand by your age, not your peers or neighbors.

It was the first book to open my eyes to frugality, but not living like a poor person, just not wasting money in excess.

2. The Intelligent Investor

Warren Buffet (The Oracle from Omaha) is hands down the best investor in history. The wealth that he has amassed is in the billions. He calls this book, “By far the best book on investing ever written”. Coming from the best investor in history, I take that as the highest praise anyone can get.

If you ever wonder how to analyze stocks, this is your book. Benjamin Graham explains his strategy and the discipline it takes to become a smart investor.

3. Rich Dad Poor Dad

If you have not seen or heard about this book and Robert Kiyosaki, you are living under a rock. It is the best-selling personal finance book of all time! Read the last sentence again. No, seriously.

He made up his two dad’s, but the powerful lessons and inspiration in this book will make you start thinking like an investor and not a consumer.

A few things I learned:

– Not all debt is bad. You can get very wealthy if you understand debt and how to use it.

– First, buy assets that produce cash flow. Then, use that cash flow to fulfill your dreams and/or lifestyle.

– If you don’t invest in assets first, you will never get out of the rat race (slave away your life working until you die)

– Become your own boss. They believe if you are going to do it, go big or go home. But no need to jump with both feet. Personally, I’m starting small as a side job and building to the point where I won’t need my primary job anymore.

 If you want to start your own business or invest in rental properties, this is the book to read.

4. The ABCs of Real Estate Investing

Ken McElroy who is part of the Rich Dad brand (Robert Kiyosaki) wrote this book. As a mini summary, what you need to focus on is finding the right deal where you can make money off of it.

He goes over Real Estate Myths: Need a personal fortune, need to start small, or you have to be a Real Estate genius before you can get started.

If you work hard to study the markets and properties, evaluate the real income and expenses properly and improve operations, R.E. investing lets you sleep well at night all while building your massive wealth.

5. Tax-Free Wealth

Tom Wheelwright is a CPA who is also part of the Rich Dad brand, wrote this book about tax planning concepts.

He explains how to use your countries’ tax laws to your benefit. How tax laws work. And how they are designed to reduce your taxes, not to increase your taxes.

Once you understand the basic principles of tax reduction, you can begin reducing your taxes and in the future how to eliminate your taxes completely just like President Donald J Trump and Rich Dad’s own Robert Kiyosaki. You will no longer be afraid of taxes again.  

6. The 4 Hour Workweek

Timothy Ferris wrote this amazing book which gives you examples on how to properly be more effective and efficient at work and in life. He’ll explain the difference between the two.

How to build systems that can be automated. The cash flow will keep flowing in, and you will work less and less as you start removing yourself as a bottleneck of information.

Little tips and tricks on how to technically become an expert in whatever you choose to work on in very little time.

Learn to delegate tasks and get more done on a daily basis. It doesn’t matter if you are a business owner, any type of entrepreneur, CEO, floor manager, store manager, or whatever, as long as you have individuals that work under you, you should get this book.

Your productiveness will go through the roof. And your wealth too.

7. Cashflow Quadrant

This is another of Robert Kiyosaki’s books. This one, in simple words, is about taxes.

Yawn! Right? Well, no, hang tight, you will definitely want to read it. You will learn the difference between the four types of individuals there are in the world and why some pay a lot of taxes while others pay the minimum or none at all.

The tax benefits you can get if you do things that the government wants you to do like research, create jobs, places for living, and many other things, you will probably want to give it a try and stop giving the government half your money back in taxes as an employee.

8. Unshakeable

Tony Robbins shares tips from different financial gurus like Warren Buffet (The Oracle of Omaha), Alan Greenspan (Federal Reserve USA 1987-2006) and David F. Swensen (Investor, Fund Manager).

He explains the rules of the game, key players and their agenda, and how the average person (you and me) can ride the financial storm to build your financial freedom.

Being “Unshakeable” means that no matter what happens to the economy, you will have more than enough for yourself, your loved ones and your contributions. In other words, financially secure.

If you don’t want to be misinformed, ignorant and/or in fear of the financial markets, you must know the rules. Get this book.

WHAT NOW?

Well, there are plenty of more books but we will be here all month long. I will write about them later. But this is where I started and I can’t tell you in this article how my life changed after this. I’m fully invested in the stock market and currently taking Real Estate classes. I already set my goal to acquire my first Real Estate Investment within the next 15 months. Building my investing team and learning the game for now, but when the time comes, watch out!

READ BOOKS 10X FASTER

I just recently wrote an article where I explained how to make David and Zira read your pdf books for you and for free. If you are reading out of your computer in pdf format, they will read it to you. Check it out.

Begin your Road to Wealth!

Leave your comment below. If you liked it, pay it forward. Share it on social media and help others become successful as well. Your success will be the result of two things: Knowledge and Action.

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If you have any questions, you can reach me at questions@road-to-wealth.com

HOW TO IMPROVE YOUR FINANCES!

“Life is too short to be living somebody else’s dream” – Hugh Hefner

DISCLAIMER: Links in this post may contain affiliate links. Honesty above all. Please read our disclosure policy here.

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Did you know that destinations are made from small actions? It is true, and although the habit does not make the monk, those habits forge our future.

If you are surprised when looking at your finances because they are almost in intensive care, do not worry. We will talk about various habits that may be causing you an unnecessary exit of money; and how to solve it.

1. The habit that affects both men and women, Make shopping a therapy. There are many therapies that do not spend your hard-earned money. See if you can give an opportunity to some of the following: listening to music, cycling, playing sports, and even cursing the referees. All these things help you reduce stress and do not affect your pocket.

2. Bad vibes. Crying about money all the time, makes you attract bad energies which prevent you from getting what you really want. Need to be more positive. Start each morning saying “Things get better every day”, or something like that. The important thing is that with positive thoughts, you attract good vibes.

3. Do not finance yourself in pawnshops. Interest rates can reach 200%. It should not be an option. That’s it.

4. Eat out more than three times a week. There are very few people who travel for work all the time and those people usually get money to spend on food from their companies. They are not spending out of pocket. This means that eating out is more of a luxury than a necessity. Nothing wrong with going out on a weekend to eat with friends or family; doing it too often is the problem.

5. Do not pay the minimum on credit cards. Banks and businesses mail you the minimum payment, but it’s not to help you. While paying the minimum, it will take you longer to pay off the card which means that they will steal more money in interest each month. Don’t do it.

6. You save very little, and what you save, sits in a common bank account where you do not earn anything in interest but you do get charged for service fees.

You have three options:

A. Use an account that automatically invests your savings in the market and helps you generate more money. For example, Acorns. This is a very user-friendly platform, which helps you save and invest without requiring any time spent from you. It also helps you get cash back when you buy directly from the application in your favorite stores such as Groupon, Amazon, AT&T, Adidas, Bed Bath & Beyond, Xfinity, Dell, ESPN+, eBay, Forever 21, GNC, Kay Jewelers, and about 300 other businesses.

B. Open an account with Robinhood which is an investment platform with a commission FREE policy. Also, get a free stock when you open your account. It’s great since you are already in profits as soon as the stock moves one cent in your direction. Take into consideration that it will consume more time since you have to transfer the money and decide on the companies that you will invest.

C. Open an account with an online bank that can pay you an interest of 2% or more. These online banks are better than common banks with buildings and employees because by not having to pay rent or wages, they can pay up higher interest to you. Mine is MySavingsDirect which pays me a 2.37%.

I hope it helps! Leave your comment below.

Remember, it’s all about the road to wealth. If you liked it, pay it forward. Don’t forget to share it on social media and help others become successful as well. There is plenty of room for all of us. In the end, your success will only depend on you and not what others do.

Follow me on TWITTER, PINTEREST, INSTAGRAM, LINKEDIN, FACEBOOK for more posts and updates.

If you have any questions, you can reach me at questions@road-to-wealth.com

The Smart way of obtaining a FREE stock like Apple

DISCLAIMER: Links in this post may contain affiliate links. Honesty above all. Please read our disclosure policy here.

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Everyone likes FREE stuff. Imagine getting a FREE stock on companies like Apple or Coca-Cola.

Well, today everything is possible. And I have a way to do just that.

But first, do you know how to create a WEALTH mindset?

W – Write down what you want

E – Envision your goals

A – Affirm your dreams

L – Listen to your gut

T – Take action

H – Help others do the same

Ever dreamed of becoming a trader and making money on the markets, this is your lucky day. This company is marketed as a commission-free stock trading product. Yes, you heard that right. You can buy and sell stocks commission-free. And they will give you, completely free, a stock when you open an account with them.

Why?

Because in English folklore, there was an outlaw that took from the rich and gave to the poor. And that is exactly what Robinhood is doing!

They are disrupting the brokerage industry by offering commission-free trading and a free stock when you open an account. Finally! Someone on the average Joe side. Now, every penny is a gain and you have no one picking through your pockets.

How do I know this?

Because I put my money where my mouth is! Just like you, I have a goal. The goal is to become rich, not just look rich.

Robinhood Markets Inc., is a U.S. based financial services company in Menlo Park, California. The company also offers a smartphone mobile app, which allows you to invest from anywhere in the world as long as you have internet available.

Remember, it’s all about the road to wealth. If you liked it, pay it forward. Share it in social media and help others become successful as well. There is plenty of room for all of us. In the end, your success will only depend on you and not what others do.

Follow me on TWITTER, PINTEREST, INSTAGRAM, LINKEDIN, FACEBOOK for more posts and updates.

If you have any questions, you can reach me at questions@road-to-wealth.com