CPA Reveals: Do This Every-time You Get Paid | Paycheck Routine

[@DonaldMark-ne7se]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[@kevinmarten]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

[@Jamessmith-12]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@JacquelinePerrira]

Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.

[@Jamessmith-12]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@JacquelinePerrira]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@diannerenn4726]

My partner is a CPA and tax attorney. Meeting him saved me!

[@johnfetter3252]

Thanks, Geoff. This is gold. Most people never hear this and end up either under funded in retirement or just barely getting by. Nothing good happens by chance. Plan ahead and save.

[@robedmund9948]

Great advice with a calm reasoned demeanor. More of that is needed today.

[@markritacco270]

I retired early in 2019 at 59 1/2 and took money out of my smallish retirement account until I turned 62 and took SS., I do not have a mortgage or debt, and I live off of SS alone now. I do not buy into consumerism anymore and have no-buy months (since last Nov) whereas I pay fixed expenses and prop/school/local taxes.

[@terryB4713]

Geoff I'm So Happy with your simple explanation I'm going to share with my children. I budgeted like your video. I'm So Happy I did!

[@deloresgutierrez1350]

Thank you for this sensible guidance. Everyone has unique needs and struggles. I can honestly say that the little bits I could put away have put me in a much better position than I believed it would. Forget the term budget, make your money work for you and be a good boss by sending it where it benefits you short and long term. Thanks again.

[@mthelouvre]

Thank you for all your work for Us!

[@Kennybooy9]

We saved 30% for 45 years. Today in our. Late 60’s, were multi millionaires.

[@stevep5736]

Thank you Geoffrey! As always, outstanding and very informative video.

[@georgevavoulis4758]

Such a calm east to listen too . I wish he were my economics teacher in highschool . People now need more help .

[@whatsup3270]

Two most common mistakes 1) not saving, and 2) not understanding what savings is. Savings can be stocks, bonds, real estate, business investment, farm investment, etc. Saving should not be cash or money in a bank.

[@kwaichangcaine8234]

Thanks Jeff

[@johnurban7333]

At 4:45 it sounds like if you have enough money you don’t need to gamble on the stock market but if you’re behind on retirement then you should gamble on the stock market. Just hope you get the bull market and not the bear market like I did and have to keep working

[@ecospider5]

Before any of these techniques you need to not use credit cards. Putting $2000 into your 401k while putting $2000 on a credit card is not the greatest plan. When younger I made sure my credit cards were all zero once per year. Now I make sure they are all zero once or twice a month.

[@paulmarino8810]

20% of gross or net?

[@fdm2155]

Net. He mentioned after tax early in the video.

[@redb.3885]

The first thing you need to do with your paycheck is to deposit it.

[@Steve-gx9ot]

Use Direct Deposit

[@bryanwhitton1784]

@@Steve-gx9ot We always did direct deposit into our savings account. Then pulled it out to pay our monthly expenses. We saved every dollar we could. When you have to make a withdrawal to spend money it makes you think twice or even three times about whether you really want/need to spend that money.

[@GiantBlue1963]

People hate budgeting because they perceive it as handcuffs.

[@pamcornelius9122]

Many, including myself, were never taught how to do a budget. It’s easier to learn now with so many social media sites.

[@GrannyLinn]

I actually feel less anxious if I know what I have to work with and where it’s going.

[@ecospider5]

I have never followed a budget. Instead I look at my spending every month. And decide if I can reduce the spending in a certain area without increasing spending anywhere else. So I’m analyzing reality instead of writing down a dream I will not work towards.

[@GUNIT683]

I like the handcuffs. 👍$$$$$

[@Steve-gx9ot]

My rule is SIMPLEST AND BEST. YOU Need 2 life = food and shelter, PERIOD! Save ALL the rest and use sparingly

[@ecospider5]

Yes. I would add. Food, shelter, transportation, medical. Then education that can increase your future income. Save everything else.

[@davidpowell3347]

"Don't pay anything extra towards the mortgage until the IRA or the preferred Roth IRA (if allowed) maximum contribution amount for the year has been funded" ?

[@johnurban7333]

Never did the max contribution, instead put the extra towards mortgage and I’m sure glad I did. Would have lost that money when the market was a bear but instead got my mortgage paid off. Best thing I every did

[@davidpowell3347]

@@johnurban7333 The thing is,once that year is over (or at least until April 15/25?) of the next year that "room" for the IRA contribution is gone forever. (there are other things like bonds or even CDs that can be used inside Roth IRAs not just stocks or stock funds) I guess kind of good to get rid of a high interest rate mortgage- if low interest rate not so much

[@johnb3664]

Save for the rainy days…we all have them unless your a billionaire

[@honesty5964]

Same info as prior

[@jeffreyknowles6265]

It's not A.S.A.P., it should be pronounced ay-sap.

[@TheMurrblake]

Either genius

[@ecospider5]

I think A S A P is more descriptive. That is why I use it.

[@_gypsysoul]

Um you do know it's an acronym for As Soon As Possible (A.S A.P.) right?

[@jeffreyknowles6265]

Do you say N.A.S.A., or do you say NASA?

[@fdm2155]

Okay, how do you pronounce TGIF? 😂😂 Can't believe people are debating ASAP.