Notices by Andrew Lokenauth (fluentinfinance@mastodon.social), page 3

Tip for people in their 20s:

A 24-year-old only needs to invest $100/ week to have a $1 Million portfolio by age 55 (in an S&P 500 index fund).

If you wait until 30 to start, you will make $400,000 less.

If you wait until age 40, you make $800,000 less.

Time is your biggest asset. Use it to your advantage.

My credit score went down when I paid off my car.

My credit score went down when I paid off my student loans.

The system punishes you for not owing money.

They want you to be in debt constantly.

Credit reporting agencies told me: "You should get more loans to increase your credit score."

Credit scoring is one of the biggest scams.

3 most popular car brands driven by millionaires:

1. Toyota
2. Honda
3. Ford

What kind of vehicle do you own?

My credit score dropped when I paid off my car.

My credit score dropped when I paid off my student loans.

The system punishes you for not owing any money.

They told me: "You should get more loans to increase your credit score."

The system is predatory and wants you to be in debt.

Credit scores are one of the biggest scams.

Life expectancy is 77.
Retirement age is 67.

50 years of work to enjoy 10 years?
Let that sink in for a moment.

We need to shift this mindset.
Retirement is a financial goal, not an age.

BREAKING: The median mortgage payment in the United States hit a new record high of $2,894 per month, for May 2024.

That's an increase of +14% from 2023, +23% from 2022, and +78% from 2021.

Wait 1-day before deciding on small purchases,

1-week for medium purchases, and

1-month for large purchases.

This will save you a lot of money on impulse purchases.

And if you still want it, then buy it.

If not, skip it.

You'll realize you never really needed it.

If something costs $150 and is on sale for $100,

You're not saving $50.

You're still spending $100.

If you buy something you weren't going to buy in the first place, it’s not a good deal.

Anything is 100% off if you don't buy it.

The Roth IRA max is $7,000 per year.

To max it out you can invest:

$585 a month, or

$135 a week, or

$20 a day.

Tax-free growth is powerful!

“If you cannot control your emotions, you cannot control your money.”

— Warren Buffett

Scarcity mindset:
• Waiting 30 mins in line for gas, to save a few pennies.
• Waking up at 3 am to wait in line for a sale, to save a few dollars.

Wealthy Mindset:
• Not wasting your time to save a few pennies.
• Realizing your time is worth more than saving a few dollars.

Money is infinite. Time is not.

You can make more money if you run out of it.

You won't get more time when you run out of it.

Time is your most valuable asset. Never waste it.

Reading 30 minutes a day is 20 books per year.

Saving $20 a day is $7,300 per year.

Making an extra $100 a day is $36,500 per year.

Focusing for 4 hours of deep work a day is 40 days per year.

Success is the compounding of small habits.

And small habits make a big difference.

Teaching kids about money should be part of parenting because schools won't do it.

Here are 10 finance terms everyone should know:

The real scam is normalizing mountains of debt for college, cars, weddings and vacations.

And then depending on a job you hate to pay it back until you die.

The biggest scam society pulled was normalizing the American debt trap.

Money is everywhere.

Let go of the idea that money can only be made with your job.

Most millionaires have several streams of income:

• Rental income
• Earned income
• Royalty income
• Interest income
• Business income
• Investment income
• Capital gains income

How many do you have?

Things money can’t buy :

• Inner Peace
• Respect
• Integrity
• Health
• Trust

There is no greater wealth in this World than peace of mind.

Take care of yourself.

As a teen, big mansions and sports cars impressed me.

In my 20s, job titles and college degrees impressed me.

Now, financial freedom impresses me.

True wealth is time, freedom, options and health.

My credit score dropped when I paid off my car.

My credit score dropped when I paid off my student loans.

Credit reporting agencies told me: "You should get more loans to increase your credit score."

The system punishes you for not owing them money.

They want you to be in debt.

Credit scoring is one of the biggest scams.

The best investment strategies are simple

Want Tech Stocks? Invest in $QQQ or $VGT

Want Dividends? Invest in $SCHD or $VIG

Want the S&P 500? Invest in $VOO or $SPY

You’ll outperform most investors if you DCA into index funds

Investing doesn't need to be complicated

Both homes cost $2,400 per month:

2024: $450,000 finance with a 7.22% mortgage

2021: $700,000 financed with a 3.35% mortgage

Crazy