>>> > > > AS WELL AS WE'RE BACK WITH OUR >>> > > > AND ALSO WE'RE BACK WITH OUR SPECIAL SERIES LIVING LONGER SPECIAL COLLECTION LIVING LONGER TODAY, EXPLORING WAYS TO LIVER TODAY, EXPLORING WAYS TO LIVER NOT ONLY LONGER BUT BETTER. > > PUPIL LENDING FINANCIAL OBLIGATION IS THE MOST >> > > STUDENT LOAN FINANCIAL DEBT IS THE THE MAJORITY OF DANGEROUS FINANCIAL OBLIGATION YOU TIN HAVE BAR DANGEROUS FINANCIAL DEBT YOU CAN HAVE BAR NONE SINCE IN 90% OF THE NONE DUE TO THE FACT THAT IN 90% OF THE CASES, 99%, IT IS NOT CASES, 99%, IT IS NOT DISCHARGEABLE IN BANKRUPTCY.DISCHARGEABLE IN BANKRUPTCY. > > YOU'RE TALKING CONCERNING HAVING A >> > > YOU'RE CHATTING REGARDING HAVING A SURPLUS OF 200 DOLLAR WHEN IS EXCESS OF 200 DOLLAR WHEN IS YOU'RE 30.
So you've save save save your whole life and then it comes time to retire and you've got to start spending that money down well for many baby boomers spending that cash isn't as fun as they thought it would be Matt Deaton of acute Wealth Advisors he is here this morning to explain and Matt is one of the valleys leading financial advisors he and his partner Damon they have a weekly retirement radio show and they help folks prepare for retirement and Matt it's it's mind boggling really when it comes time to actually go out and spend the hard-earned money that you've worked hard for you said that some people can't do it they're they're fearful why well part of its they've they've developed habits of saving their whole life and now it's time to start spending I've got this client that I'm working with right now she had hurt us at one of our workshops and she came in and she was currently being with her advisor once a month because she was so worried about her money she had just retired she didn't know what to do and as she talked and she talked through these things I found that she was basically paralyzing or spending she just really didn't know what to do she I told her I said you have some investments but you don't have a financial plan you don't have a plan for how you're gonna spend this money and so you're really really scared about it oh yeah and so so we're working with her to kind of put that plan in place so that she can you know and she doesn't have to meet with her advisor every month right and be worried about this that she can go out and enjoy retirement all right so how do you suggest that those folks out there who might be like her how do they overcome their fear well I think there's a couple things number one I think knowledge is power the more you can understand about a subject the better and so we believe when we sit down with someone to educate them and teach them and so we spend the first few appointments just talking and educating about those the other thing that we have started to do is we've started to do these college courses okay so we hold these courses that's a community college close it's two nights it's for two hours each night so it's not long it's not extended but it's enough time to go into depth on these classes in this subject so that people can now own their finances because now they can learn about fees they can understand how to analyze their statements all these things that people get petrified and worried about that cause the issues when they were and so this to our class it's two nights for two hours it's a I mean are we you're teaching us basically how to spend so we're taking notes oh there's a workbook we're gonna teach people how to maximize their social security so the first thing we're trying to teach people is how to get the most out of their money okay but then once you understand that you're gonna know okay this is the money I need to set aside for the income I'm going to need ten years down the road but this is the money money I can spend now so I can have some fun while I'm young and I'm healthy and I can move and I can go on the cruise and all the things you've been doing so it's it's a it's a course that just starts from the basics and builds on them alright so after we finished this two-day course you've given us a plan of action our distribution plan do you suggest that we update that oh absolutely so just because you go to the one class or just because you've sat down with a financial advisor at one time you cannot just stop there you need to continue to develop and make changes to that because things are gonna change your health is going to change your spending is going to change and so you need to make adjustments to your financial plan and I would have to imagine that after they have this plan that they the fear is lifted a little bit absolutely because again instead of just having investments you have a plan and so if you're an emergency and you have a plan a lot of the fear goes away you know what you're supposed to do that class and go gosh darn it I gotta get out there and enjoy my retirement well that's all probably overwhelmed and and excited well she's turning to become more excited you know she's been overwhelmed she's been fearful now she's starting to get where she's like okay I can really enjoy the travel I don't do it I can do it and I think that you know that fear is normal because we're not getting the income anymore so we don't want to stop our current lifestyle right great information well let's give you some information let's to give you the tools that you need to enjoy retirement if you want to learn more you can attend that upcoming two-day educational course that we were just talking about hosted by acute wealth advisors there are two courses that you can choose from in October now one is going to be held at Mesa Community College the other at Glendale Community College and if you call in the next thirty minutes you're going to receive 50% off the tuition for that course so it's half off four eight zero six two zero six nine zero seven is the number to call spaces filling up so be sure to reserve your seat today acute wealth advisors they have offices across the valley for your convenience learn more by visiting acute wealth advisors dot-com
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I'm going to do a video on 5 simple things you can do to help your financial situation and I realized that I need to do a follow-up to the retired at 40 story video because there's a huge need for financial education in this country and really everywhere it pertains to every single person doesn't matter what your financial status is you can always use help and there's always little tip tips and tricks that and things that you can do to better your status it always amazes me how scared people are to talk about their finances to put something on paper to basically take a look at where their money is going what's getting saved and how everything is getting spent and I've met people time and time again that are highly educated very smart people but they know nothing about finances and they are terrible with money management so before we get into the 5 tips I want to strongly urge you to make a financial statement for yourself figure out where your money is going currently and figure out how much you're saving and basically figure out where you can trim the fat for so many people a financial statement or just finances in general is like a bad word they're just terrified of it but the only way that you're gonna be able to improve your finances is to face the music alright so now that you've had a chance to go through your financial statement you definitely know where your money is going but how can we save more and what you really need to aim for is about 6 months of reserves especially if you're getting ready to invest money into something or if you're doing some kind of career change or some life-changing thing and all of these five tips will more than likely be a line-item on your financial statement so let's go to financial tip number one hey I'm going to have to call you back I'm shooting a video right now so this first thing is something that we've all become very very accustomed to in the last 10 to 15 years and that is a cell phone and people tend to spend absurd amounts on their cell phones whether it's the bill or the cell phone itself mainly the cell phone itself so that's my first financial tip is shop on eBay or Amazon for a cell phone that's refurbished or used or one this may be just a couple years old I actually just purchased a cell phone on ebay because I'm having trouble with my current one and I got on to my cell phone providers website and the most expensive phone that's like mine now is $1,200 that's insane to me so I got on eBay I found one that's similar to the one I have right now it's new but it's a couple years old and I got it for less than $200 another thing that you can do is ask for some kind of loyalty benefit from your cell phone provider cell phone providers are constantly trying to earn your business and if you've been with them for a long time and you can convince them to keep you around by offering you some kind of benefit they'll jump on the chance just by going into my provider recently I have a cell phone bill that was about a hundred and ten dollars a month I told them that I've been with them for close to 15 years they knocked it down to sixty-seven dollars and I have unlimited everything now tip number two is what I call going to youtube University or getting a YouTube education we live in the most amazing time ever right now there is information everywhere and it's so easily accessible don't ever stop educating yourself it's so easy to find out how to do things these days you're doing yourself a huge disservice if you don't take advantage of that so how does that pertain to saving money well you can save money by doing tons and tons of things yourself instead of paying someone else to do it just look at the platform that you're watching right now for instance you're watching a video on how to do something so that how-to can be anything from changing brake pads on your car to changing the oil on your car to fixing a leaky faucet or the toilet flapper not working on your toilet all the way to how to the meal which brings me to my next point number three so food is a necessity in life but is it a necessity to go out to eat or go to Starbucks once or twice or every day the amount of money that people spend on food and going out to eat fast food Starbucks McDonald's it really adds up quick and I don't think that people realize how much money they're actually spending on it because it's just five or six or seven dollars here and there but if you add that up over the course of a month or a year or five years or ten years I think the result would be pretty staggering cook your meals at home pack your lunch for work make that fancy coffee at home it's not that tough to do there's so many great ideas and resources on YouTube and Pinterest and vlogs and blogs this channel included if you need a place to start scroll through my channel I have lots of cooking videos if you want to take that a step farther you can start growing your own food and if you don't have a big green house like this you can grow a lot of food just in five gallon buckets even on a little deck if you don't know where to get started see tip two number four is something that really hits home for me because me and my wife are both self-employed and we have been for 15 plus years so number four is insurance and although I don't like insurance companies because I think they're a giant scam it's a necessary evil and you can also use that to your advantage you can put them against each other insurance companies much like cell phone companies are begging for your business and they're constantly trying to outdo each other with with certain benefits or promotions so make them put their money where their mouth is and put them up against each other constantly and not just insurance companies you can do this with all kinds of different companies you should always be price checking these companies the ball is in your court make them earn your business all right I'd saved the best for last tip number five is taking advantage of bank account and credit card bonuses and this tip is begging for a separate video all on its own because I could go on about this for a long time but if you're not taking advantage of credit card bonuses for sign ups or credit card cash back or travel miles or if you sign up for a bank account a lot of them will give you a large sum just for putting your money with them now I want to be clear I'm not promoting just going out and spending a bunch of money on a credit card but more putting the things that you already spend money on into the credit card it's money that you're spending anyways put your mortgage on a credit card if you can insurance is a good one it's not super expensive but at least we'll get you a couple hundred bucks on your credit card unless of course it's health insurance and then you're talking in my case thousand to twelve hundred dollars a month here's another good one groceries it's something that you always have to have and depending on how much you go to the grocery store it could add up to three or four hundred bucks a month sometimes six hundred maybe even more no-brainer here put your gas on a credit card you can always put your utilities on your credit card too if your utility company will allow it next from tip one your cell phone bill now depending on how much some of these are and if you are allowed to actually put them on your credit card you're talking some pretty major money that you can get a bonus from if you're getting two percent cashback that really adds up not only that but you're increasing your credit score while you're doing that so as long as you're financially responsible and you pay this every month you're reaping a large benefit a lot of credit cards will give you a 2% cashback they'll give you a $500 signup bonus that's free money in my opinion the free bank bonuses or even better than the credit card in my opinion because the bank account is something that you have to have anyway a lot of them will give you $500 for a small deposit as long as you put your direct deposit with them all the way up to I've seen $1,000 before and if you have a little bit more money to play with some of the online money market accounts like Capital One will pay you up to 2% or some even up to 2.5% just for keeping your money with them so some of these things may not seem like it's saving you a ton of money but when you take up those extra fives and tens and occasional hundreds and you put them to work for you as opposed to something that you're normally spending you're not only saving the money because you're not spending it but you're putting it to work and doing something else with it and you'll find that your your finances will start to collect very quickly so if you found the video helpful and you enjoyed the content take a second to give me a thumbs up it really helps out the channel and it helps the YouTube algorithm get this video out to people who actually need to see it also don't forget to subscribe we do some gardening some frugal living some food preservation and cooking some gardening and you get to join me and my family on our retirement at the age of 40 after you've clicked subscribe click the bell notification also and it will notify you every time a new video comes out and it'll keep you in the loop of the community all right I appreciate you sticking with me through this whole video so I'm gonna give you an extra bonus tip with an extra 100 or 200 or 300 or more dollars per month that you're saving with just cutting back on a few things you take that extra money and you pay down debt with it the faster you get out of debt the closer you're going to become to financial freedom and whenever you're paying off debt always choose the smallest balance first because it gives you that extra little boost and if you can pay it off faster it gives you that extra bit of confidence to rock into the next one so once you've paid down your smallest debt move on to your next smallest debt take that money that you're saving from the smallest debt that you're not having to pay any more and add it to the money you're saving from the 5 tips that I'm giving you and apply it to the next smallest debt and when that one's paid off you roll it into the next one you roll that one into the next one and so on and so on in the meantime this is retired at 40 check out these other helpful videos if you have a minute remember to live a life simple and we'll catch you next week oh hey I'm gonna have to call you back and shooting a video right now this is right my god get out of debt
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