CEO Explains: The Fastest Way To $1,000,000 Net Worth
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- เผยแพร่เมื่อ 11 ก.ค. 2023
- Being a Tax Advisor is a lucrative opportunity...Learn more here: markjkohler.com/become-a-cert...
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This was awesome. Thank you guys. 😊
It was actually Einstein who called compound interest the 8th wonder of the world, not Dave Ramsey, lmao...
How does the compounding work really?? What if your investment takes a nose dive or just loses value?
What are your thoughts on whole life policies? Under what conditions would you recommend them?
You say that Wallstreet and 401k companies take money from us in fees, but how much are you charging in fees for your services and the selfdirectira? My IRAs at Fidelity are doing pretty well I maamge and trade them on my own without paying any fees at all.
Bitcoin is the answer!
no roth available for older people retied so what else do u have
First to like and comment! Great content
Matt and Mark, great context. Thanks for sharing. My brain is ticking. Matt - what brand shirt are you wearing?
In your opinion, should I sell one of my condos to pay off my Heloc and use what is left over to put the rest into a Roth IRA?
How do I setup account like Rockefeller?
25 year old in the house, love the Roth strategies! Have mine over at directed as we speak, love the content guys you rock! 🤘🏻👏🏻
Only thing you guys disregard is properly designed Whole Life Insurance. Something I’ve been doing for years as do many wealthy people. It’s grows tax deferred and when accessed the right way it is TAX FREE not to mention I have access inside of 30 days. I use that cash value to buy rentals, make private loans, put into a Roth etc. and all the while the cash value continues to grow. PS i am not an agent
🔥 🔥 🎯🎯
That's what I want to do .
What whole live insurance are you talking about that give you access to it in 30 days? You also don't mention the cost goes up per month the more you take out of it. Most whole life insurance don't let you dig into it till 10 years, also some require up to 50k to put into it in the beginning.
@@mattiexo no the cost first not go up in whole life. You’re thinking of an IUL or indexed product. Do yourself a favor and check those things out I mentioned
Any suggestions on who to contact about this?
Yes people need to be in the market but the part you left out is critically important. Index fund suck and ETFs suck. Secondly if you don't know how to perform a evaluation on a stock then you don't know what its intrinsic value is and you will most likely over pay for it. You need to know how to read a balance sheet. You know how to you need to know how to read corporate filings. You need to listen to the earnings to hear about the conpanies progress. Only focus on 5 stocks anymore than that and you won't be able to actually manage
Sir I am from Philippines a filipino citizen can I avail your program?please reply me.
12 years from now, $1,000,000 will be worth $100k in today's money if Americans are lucky. Divest into Asia, buy income properties, or enjoy the money today while it's worth something.
It's about 50% every 10 years
tion just means get more of. The important thing to keep the labor (energy) tied to the value, so that the energy it takes to mine, refine, process and mint one oz of gold is consistent with the amount of energy expended to produce what it's traded for. If they want to translate that into 1 dollar, or 1000 dollars, or 53jillion Satoshi dog logs, its fine, whatever makes transactions feasible with the quantities divided up per the population head count.
(I know our current gold/dollar/labor/head count ratio is skewed. Someone should come up with a great reset or something. Someone qualified, and moral, not the
d|ckheads of Davos goof troop)
A 6❤11❤
That being the case wouldn't it be best to invest in rental properties then? If inflation raises then so would the value of your properties and the rent, right? Just invest in rentals and reinvest any profits into more rentals.
@@mekrobar7872Exactly! 💯
🤑🤑🤑🤑🤑😬😬MARK WHERE do i get an advisor like you or you know that can help me set these things up asap or YESTERDAY in OHIO, or online with you i love all your ideas and have hated wall street my sep ira has done nothing last few years and certainly is not heading anywhere in the near future i need to hustle!!!!! 🤑🤑🤑🤑🤑😐😐😐😐😑😑😑
Hey there! Please get connected with one of our amazing Tax Advisors from our Main Street Pro Certified network, all of whom train with me weekly. They help clients nationwide and will be able to help you, get connected at markjkohler.com/tax-pro-profiles/ - thank you!
Yes show me the $$$$$! We all want to be wealthy!!
I got 4-Rental Houses about 15-Years ago!
Prices where down when we bought so, has made paying for them easier!
May not be the best investment but, gives me a different income source when Retirement finally comes!
You know you can reach 1 million in your bank account in 3 years with a very scalable online business right?
I got about $12,600 in my Roth and about $8500 in my HSA all invested in Snp500. Would you guys recommend me to sell my investments and get my first rental property with my roth and HSA ? Or should i save to get some more money in there. Im stuck :(
I would take that money and put no more than 2k in a single stock; diversify in high yield dividend stocks that are in different sectors of the market that way you can have a first point of contact to a passive income stream; the next thing you should tackle would be real estate after making what you would consider good money off the dividends
@@Hkri127 Thanks for the Advice! Do you recommend any TH-cam videos to watch about this topic?
@@carlosortega8643start with putting $1k on SCHD dividend ETF. It’s a start. Lots of TH-cam videos on SCHD. Solid companies in that fund.
Why is it that poor people don't have investments?
Because all efforts s were directed towards fleecing us of what little we did have. If you don't know what I mean, learn what the expression means, "we have paid a premium to be poor."
The next reason is the pay wall locking up the real investment opportunities from us (e.g., needing $500 to begin to invest).
And just to put another thing into perspective $100,000 of purchasing power today will be literally cut in half and 10 years … so if you’re not investing, the power of your money is decaying
and investments, as we all know, only appreciate. Nothing fails as everything is "too big to fail" now. Investing is 100% risk free as Uncle Sam backed securities.
I’m confused I’m a W2 earner . What type of Roth outside of my W-2 can I start or should I do a brokerage account with an agency This is for retirement..?
To have a chance to get your question answered on a podcast, please submit it to podcast.mainstreetbusiness.com/ OR if you want to dive deeper into your question, please get connected with one of our Main Street Tax Pros at markjkohler.com/tax-advisor-network/ Thank you!
Since I can only put $7500 per year in a Roth, it will take 10 years to build up enough for even a down payment on a flip property. Then I still need repair costs, none of which I can do myself if using Roth money. I need more direction on how to turn my first $7500 Roth contribution into $15k within a year. Then double it again the next year and so on.
You can use the 7500 as a down payment. There are ways to leverage debt inside the self directed Roth IRA
I never heard of any of this until i was 53. Probably too late but very interesting nonetheless
You will not get 8% year in and year out ! If you were informed as an advisor you would not suggest investing in the stock market at this time.
Damn !!!! I don’t have 100,000 dollars though. I thought you said I don’t need money to make money. Come on man.
Get a job
Also need you or someone working for you to talk with and guide me on the right path ASAP I ONLY HAVE THISE 12 YEARS LEFT to plan
Hey there, we can help! Please get connected to one of our amazing tax advisors from our Main Street Tax Pro network. You can get connected here: markjkohler.com/tax-pro-profiles/ - thank you!
I might be able to start with 250 dollars. I dont have 250 GRAND
🤑🤔🤔QUESTIONS i dont trust market anymore how do you feel about putting my money in a ANNUITY? 100k then the rest i have work 401k just starting now into a roth account,
5 minutes in and they have yet to make a point
Einstein said compound interest …
You should be teaching people how to get to a 1 billion dollar net worth the way they are printing money
Hello Mark,
I am heavily invested in startups, so far no liquidity event, aka windfall, has happened...
These investments aren't in an IRA but in the 3 main startup crowdfund platforms.
If I do get a major windfall, what should I do?
To get your question answered, please submit it to podcast.mainstreetbusiness.com/ OR you can head to markjkohler.com/tax-advisor-network/ and get connected with one of our amazing Tax Advisors that can help you dive deeper into your questions. Thank you!
@@MarkJKohler thank you very much, shall do.
I’m 56, I don’t have that kind of time anymore.
Next
Buy, borrow and die
I don’t know what you’re smoking but you’re throwing out numbers most Americans can’t manage
Rob a bank? 😂
You guys are selling something . Fast talkers !
The answer is: Crypto
Do Cryptno if you want to lose it all!
Crypto is only one of the irons in the fire and right now is only speculation
Yup Bitcoin for the win!
This is a big lie
I have a question, so I opened two separate IRAs and now I’m over the 7500 limit, I’m over 3k over. What’s going to happened now?
You need to contact the company and do a return of excess contribution. If you don't, the IRS will penalize you 6% a year until you fix it.