Building wealth is something we do in life; however, most of us do not succeed because most of the money we acquire slips through our fingers and into the hands of someone else to build their wealth. The core of wealth building lies in financial literacy, which, when applied, decreases the wealth transfer from ourselves to others. While most people chase rate of return on their investments, the concept of decreasing the wealth transfer that happens throughout our lives is never addressed, which would actually yield better results than increasing rate of return and increasing risk exposure. During our meetups, we will discuss basic and advanced savings and investment concepts in this group as well as have discussions on books about personal finance. We will discuss conventional as well as some unconventional strategies that can be applied to this journey. We will also share our various experiences and techniques applied in our journey to financial independence including how to setup and follow through with financial goals that lead to financial independence.
Topics that will be discussed include: Cash Flow and Debt Management, Hacking Financial Products (Cash Value Life Insurance and Annuities), Proper Protection, Asset Accumulation, Real Estate as cash flow and investments, Retirement Planning, Long Term Care, Estate Planning, Minimization of tax liability, Interest and the Spread, Opportunity Costs, and many more.
Most of important of all, we discuss the underlying concept that ties the above topics together that is not normally discussed in most financial literacy groups which is how money works. After all, if we want to be wealthy we need to begin thinking and behaving like the wealthy.
One of our goals is to teach a holistic approach in building our financial plan and make sure each cog in our financial machine is working together to build wealth in the most efficient manner.
This group is open to anyone with an interest in learning how to manage their finances and build wealth, both individuals and business owners.
As discussed in our last meetup, people wanted more examples as to how some of the ideas work in real life.
The meetup will be a continuation of the last meetup. We will discuss and show the mechanics and inner workings of debt using examples to show how you can use debt systematically to put you ahead of the game in terms of cash flow and net worth.
If you missed the last session, it is not required to understand the material so fee free to come.
Bring notebook and pen to take notes.
Note that if the number of RSVPs goes to over 10 then we will change locations so keep checking the page for updates.