Welcome!!Welcome!! Welcome Central HS! Become a Millionaire? Most people don’t take this question...
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![Page 1: Welcome!!Welcome!! Welcome Central HS! Become a Millionaire? Most people don’t take this question serious because they know the chances of it happening.](https://reader035.fdocuments.net/reader035/viewer/2022070401/56649f1a5503460f94c2fb90/html5/thumbnails/1.jpg)
Welcome!!Welcome!!Welcome!!Welcome!!Welcome Central HS!Welcome Central HS!
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Become a Millionaire?Most people don’t take this question serious because they know the
chances of it happening are slim to none.
Of course everybody would like to be a millionaire.
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Assuming you were __ years old, how much
money would you need to save each day to have a $1,000,000 at age __?
Become a Millionaire?
Assuming you were 17 years old, how much
money would you need to save each day to have a $1,000,000 at age 65?
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Most people learn to do it the hard way.
$1,000,000/48 years/365 days = $57/day
Most people agree that $57 per day is a LOT of money, even when you are making $50/hr…or $300/hr.
Ironically, in almost every audience, there is one person who thinks they could start saving $57 today…they are usually the
future business owner in the group.
Depends on your education.
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The problem is that middle America kids are taught finances by their parents, and who were taught by their
parents.
“Rich Dad, Poor Dad” addresses a fundamental
challenge.
Simple Math Doesn’t Work
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From athletes to doctors to hairstylist to…ANY thing
you plan to do for a living…you need to know this…
today…and you may never hear it again.
No matter what your plan is…
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“How Money Works”
What are the rules?
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$2,000
$4,000
$8,000
$2,000
$4,000
$8,000
$16,000
$32,000
$2,000$4,000$8,000$16,000$32,000$64,000$128,000$256,000$512,000
72 ÷ 3%72 ÷ 6%72 ÷ 12%
Rule of 7224 Years
12 Years
6 Years
182430364248546066
Age 3% 6% 12%
Compound Interest
$500,000$500,000
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19,623 Avg. # of meals in retirement
x2 including a spouse
~40,000 Approximately
x$10 avg. cost of a meal in 20-30 years
$400,000 Just to EAT!!
Putting things in Perspective
And we all know what happens when you don’t have enough $$ to eat.
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Loaner vs. Owner
Banks
3-6%
18-21% Credit Cards
Mutual FundsA BA. Loaner: Loses money
to inflation.
B. Owner: Benefits from inflation.
Invest American Economy12-25%
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What is Safety?
1940
2013
……a 90% a 90% LOSS!LOSS!
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But, stocks can be risky
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$2 Billion
Benefits of Mutual Fund• Pooling of Assets: Hires a Professional Manager
Individuals$25-1000+/mo.
Banks$1-5 Mil.
Institutions$100-500k/mo.
Insurance Co.$1 Mil.
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$2 Billion$2 Billion
Diversification
EnergyEnergy
TechnologyTechnology
FinanceFinance RetailRetail
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Diversification
CBSFordAT&TDupontCompaqChevronCitigroupMotorolaBest Buy
CBSFordAT&TDupontCompaqChevronCitigroupMotorolaBest Buy
Outback SteakhouseInternational PaperSouthwest Airlines
General ElectricGeneral MotorsColumbia/HCACampbell SoupNationsBankWalt Disney
Outback SteakhouseInternational PaperSouthwest Airlines
General ElectricGeneral MotorsColumbia/HCACampbell SoupNationsBankWalt Disney
IBMMCI
MobilReebokDillards
WalmartMicrosoftCoca Cola
McDonalds
IBMMCI
MobilReebokDillards
WalmartMicrosoftCoca Cola
McDonalds
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Assuming you were 17 years old, how much
money would you need to invest each day to
have a $1,000,000 at age 65?
Become a Millionaire?
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If you know the rules...
$1.28
per
DAY!
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Coke $.50 = $170
Movie $7 = $2,082CD $15 = $4,625
What is the REAL Cost?
Stereo $279 =$86,043
Shirt $50 = $15,418
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What is the REAL Cost?
Cost of Smoking: I recently calculated the cost to smoke from age 15-55...40 years, 1 pack/day*. So, a pack/day is 30 cartons for a year. This is $1,200** a year in ciggies. If a person were to invest the same $1,200 a year, they could have almost $1,000,000 by the time they were 55. So, this is just a little greater than the $48,000 out of pocket expense when you consider the FTV of money when saved in a quality equity investment.
* Ok, so a young person may not actually smoke a pack a day now, but they will soon...and eventually they will smoke more than a pack a day, so the average is 1 pack/day.
** Assuming a person actually buys their cigarettes a carton at a time...but since coming up with $40 for an entire carton might be tough, this might actually cost even more
= ?+
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17 $776,179
Cost to Wait
5 years $426,112 $350,067 $1,500
1 year $688,535 $87,644 $300
1 Month $25 = $7,709
$25 / Month @ 12% to age 65
The HIGH Cost of Waiting
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It Pays to Start Early!
At a 10%Rate of Return
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Know the Rules!
I. Know how money works
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Know the Rules!
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Know the Rules!
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Know the Rules!
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Know the Rules!
I. Know how money works
V. Make good choices
IV. Work hard
III. Have a Written Plan
II. Dream BIG…set GOALS
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The Right Choices
The decisions you make today will determine your opportunities of
tomorrow.
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Trained to be an Employee
• It’s the way of the world…you work for an hour and you get paid.
• Unfortunately, this is a system that leads to frustration and disappointment.
• What if there was another way?
• First…a couple of video clips – (time permitting)
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Secret To Financial Independence
EMPLOYEEHAS A JOB
INCOME BASED ON POSITIONNOT THE PERSON
BUSINESSOWNS A SYSTEM
HAS OTHERS WORKING FOR THEMUNLIMITED INCOME POTENTIAL
MANUFACTURING, MARKETING, ETC.
SELF EMPLOYEDOWNS A JOB
DENTIST, DOCTOR, LAWYER,HAIR STYLIST
REAL ESTATE AGENT, SALESPEOPLE
INVESTORHAS MONEY WORKING FOR THEM
ENJOYS COMPLETE FREEDOM,LIVES THE DREAM
25-30 Years
25-30 Years
5-15 Years5-15 Years
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The Right Vehicle!
The “vehicle” you choose will
determine where you go in life.
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Contact InformationIf you have any questions, please feel free to call:
Michael Overstreet
(409) 860-9200