Dynasty Wealth Partners on Nostr: "10% of everything you earn is yours to keep." This principle is often associated ...
"10% of everything you earn is yours to keep."
This principle is often associated with the book “The Richest Man in Babylon,” which advocates setting aside at least 10% of your earnings for savings or investment.
The easiest way to do this is to do it automatically. That means every time you get paid, take 10% of that and put onto a segregated account. Where should you do this? How should you start?
We used to use bank savings accounts when we first got started, once we built up enough of a cushion, we moved to putting our 10% into specially designed whole life insurance, according to the Infinite Banking Concept... After that once we built up sufficient amounts to weather any storm...
Next we are investing in cash flow assets (assets that pay you back) we use loans from our life insurance and pay back with more than the interest charge.
Personal finance isn't that hard, just have to start somewhere. We still use bank savings for local cash and temporary savings, we keep a majority in life insurance polices because they are safe, liquid, earn higher interest than savings account, and just so happen to have a death benefit as a bonus.
Next thing we are looking into is to start purchasing bitcoin as a reserve asset. There are several companies out there you can DCA (dollar cost average) purchases of bitcoin, daily, weekly, or monthly. We set it and forget it, we don't care about the price, we are just Stacking Sats and staying humble.
Setting up reoccurring buys on something like Strike is super easy. We also use the fold debit card for purchases in order to earn bitcoin with every buy.
These are things I don't see the "typical" financial advisors talking about...
This principle is often associated with the book “The Richest Man in Babylon,” which advocates setting aside at least 10% of your earnings for savings or investment.
The easiest way to do this is to do it automatically. That means every time you get paid, take 10% of that and put onto a segregated account. Where should you do this? How should you start?
We used to use bank savings accounts when we first got started, once we built up enough of a cushion, we moved to putting our 10% into specially designed whole life insurance, according to the Infinite Banking Concept... After that once we built up sufficient amounts to weather any storm...
Next we are investing in cash flow assets (assets that pay you back) we use loans from our life insurance and pay back with more than the interest charge.
Personal finance isn't that hard, just have to start somewhere. We still use bank savings for local cash and temporary savings, we keep a majority in life insurance polices because they are safe, liquid, earn higher interest than savings account, and just so happen to have a death benefit as a bonus.
Next thing we are looking into is to start purchasing bitcoin as a reserve asset. There are several companies out there you can DCA (dollar cost average) purchases of bitcoin, daily, weekly, or monthly. We set it and forget it, we don't care about the price, we are just Stacking Sats and staying humble.
Setting up reoccurring buys on something like Strike is super easy. We also use the fold debit card for purchases in order to earn bitcoin with every buy.
These are things I don't see the "typical" financial advisors talking about...