Jaaziel Palacios, EA
@Jaaziel_MPAdvisor for professionals in their 20's and 30's | I help put systems in place for your financial freedom | Electrician → Wealth management | Tweets ≠ Advice
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I'm on the express lane to becoming my family's first millionaire. Here's the 6 step game plan:
You're not getting rich off life insurance but you will have: - Income for your family - Kids college fund - Family home - Debt
All of Tesla’s gains this year came in the last month. Crazy movement 1 month return [49%] ; year to date [31%]
Investment portfolio in 3 steps: 1 - Write out financial goals 2 - What's the amount of risk you're able to take based on timeline? 3 - What's the amount of risk needed to actually hit those goals? Set up stocks and bonds accordingly.
Get rich by appropriately aligning: Things you need Things you want Investments
Now I get it. I came from a low income household and decided to study personal finances. I learned about so many tools but there was always push back from clients about using them. ——— I just signed up for my dependent care FSA account ($5000 annual) — it saves me over $1000…
Compound interest vs. Simple interest. 10% annual gain. Yr 1 - $11,000 [s] Yr 1 - $11,000 [c] Yr 30 - $40,000 [s] Yr 30 - $174,494 [c]
Helped a friend with a low credit score get small savings and increase score. Now: - Less security deposit for renting - tweak insurance to lower cost with same coverage Foundational pieces aren’t just about having cash. It gives you more levers to pull on.
3 asset classes make up your investment portfolio. - Cash - Equities [stocks] - Fixed income [bonds] They don't make you money or get taxed the same.
As of 11/1/2024. YTD returns: S&P 500: 20.1% 🟢 US AGG: 1.4% 🟢 Yields: 10yr Treasury: 4.3% 🟢 1yr Treasury: 4.25% 🟢 Last 2 weeks gave back some gains
As of 10/18/2024. YTD returns: S&P 500: 22.98% 🟢 US AGG: 2.98% 🟢 Yields: 10yr Treasury: 4.08% 1yr Treasury: 4.19%
I don't know who needs to hear this but: Keeping a balance on your credit card will HURT your credit.
If you started investing less than 15 years ago you have no idea why S&P 500 and chill is bad advice. Check out the lost decade for stocks
Try this: The 20-slot rule. It’s Warren Buffett’s KEY to investing- Invest as if you can only make 20 investment decisions in your entire life… It changes the way you think about every trade you make.
I’m 27 with life insurance b/c the people I love outweighs an extra $50-$60 m/o
High stress: - Individual stocks - Check account daily - High trade commissions Low stress: - Basket of stocks - Let time work for you - Low cost investment holdings
People don't have mental real estate to spare Yet we: - delay putting ourselves out there - think they judge all we do - limit our opinions Everyone is out building their lives, not worried about yours
I’d rather admit walking through the wrong door then staying in the wrong room — forever
You don't need to be an entrepreneur to be financially free. Most people use their 9-5. Twitter can be an echo chamber of “hustle till you die”
Hulu and Netflix can make you $81,000 Netflix: $15 mo Hulu: $10 mo - $100 invested monthly for 35 years: $325,229 Vs. - $125 invested monthly for 35 years: $406,536
ROL = Return on life You don’t go to the grave with your money and you don’t get to eat without money. ROI = Return on investment
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