Jerry Fetta – Keep More Of Your Money
To build wealth you must make money, you must keep it, and you must multiply it. If you fail to do even just one of these things, I can promise that you will not build wealth. If you skip steps, you will not build wealth. If you do these steps out of order, you will not build wealth. There is no creative way around this, it’s like gravity. Today I want to talk to you about how to KEEP more of the income you’re earning. Now this does mean you need to be earning it. If you don’t earn as much income as you’d like, click here, I have a coaching program I want to help you with.
DITI (Debt, Insurance, Taxes, & Investment Fees):
- Debt. Stop overpaying on your debt. Reduce your payments to the bare minimum. This will allow you to keep more of your hard earned money. I know what the media pundits say about how you should pay all of your debt off ASAP, but let’s face it – you need more money. Not having money in the bank is what got you into debt in the first place. Save up enough money that you’re now solvent and THEN and only then will we look at paying your debt off sooner. “But what about all that interest?” Look, you don’t pay your bills, save, or invest with interest. You do it with money, of which you have not enough right now. Let’s get money first and then we can worry about interest.
- Insurance. Insurance exists to spread risk. What the biggest risk? Not having money. Reduce your insurance premiums to the lowest possible amount. Insurance is basically a commodity. If you work with an insurance company who charges you a premium for their brand, you’re overpaying. Look at your auto, home, renters, life, health, disability, umbrella, liability, and other types of insurance. Find an independent broker like my company (click here) and we will shop for lower quotes so you can keep money.
- Taxes. I believe taxation is theft. There, I said it! Now it doesn’t mean you should not pay taxes (you will get locked in a cage if you don’t pay your taxes) but it does mean you should pay as little as possible. First, if you get a tax refund each year, that is a very bad thing. It means you need to adjust your withholdings on your W-4. The average American gets a $2,860 refund from the IRS. That means you are missing out on $238/mo! You want to either get know refund our owe a few hundred to a few thousand at the end of the year. Why? Because you can keep more of your money.
- Investment fees. Motley Fool talks about the damage that can be done by your investing fees suggesting this scenario: “Assume that you are an employee with 35 years until retirement and a current 401(k) account balance of $25,000. If returns on investments in your account over the next 35 years average 7 percent and fees and expenses reduce your average returns by 0.5 percent, your account balance will grow to $227,000 at retirement, even if there are no further contributions to your account. If fees and expenses are 1.5 percent, however, your account balance will grow to only $163,000. The 1 percent difference in fees and expenses would reduce your account balance at retirement by 28 percent.” Click hereto read full article.
If you’d like to make more money in 2018, keep more of it, and multiply it with income producing assets so you can stop trading time for money, I want to help! I created a coaching program for this exact reason called Wealth DynamX University. Wealth DynamX University provides goal setting, a written formula customized to your situation, monthly 1 on 1 and group coaching, daily education about wealth, and a mastermind group to stay accountable and network with like-minded people.
My average client sees a 30% increase in income, a 25% reduction in DITI, an increased savings rate, and secures 8-12% fixed annual returns on their investments.
PLUS if you enroll now, you will get a free ticket to the 2018 10x Growth Conference, February 22nd-24th in Las Vegas. But we only have 3 tickets left so act fast!
Click here to get started now!
Own Your Potential,
Jerry Fetta believes everyone has the God-given right to own their potential. Most of us don’t because we spend 40 hours per week serving the 40 year to life sentence, trading our precious time for worthless paper called money.
We live on an economic planet and time and money do need to be exchanged. But it doesn’t need to be your time or your money. Jerry teaches his clients to secure income producing assets that make the time and money exchange for you so you can buy your freedom back and live a life of abundance and prosperity. To get there we must know how to make money, how to keep it, and how to multiply it.
Jerry provides coaching, education, accountability, and community to help you build wealth.Join the Wealth DynamX coaching program, get educated on Wealth DynamX University, and begin networking with the Wealth DynamX Mastermind Group today.
To get started, go to www.WealthDynamX.com