This week, we dive deep into why the old ways won't work and shows you how to build real wealth. I'm a regular person who figured it out, and now I'm sharing my secrets.
Forget boring savings plans! Learn how to invest in assets that make YOU money. We'll cover emergency funds, self-improvement (because YOU are your best investment!), and smart investment strategies. (Real estate fans, there's even a sneak peek at my course!)
This ain't your parents' retirement plan. It's an actionable roadmap to financial freedom and the retirement you deserve. Let's ditch the outdated system and build something awesome together!
This episode is brought to you by Premier Ridge Capital.
Sign Up for our Newsletter and get our FREE E-Book where you'll learn everything you need to know about creating financial freedom through multifamily syndication.
Visit www.premierridgecapital.com now!
This episode is brought to you by Premier Ridge Capital.
Build Generational Wealth As A Passive Investor In Multifamily Real Estate Syndication!
Visit www.premierridgecapital.com to find out more.
This week, we dive deep into why the old ways won't work and shows you how to build real wealth. I'm a regular person who figured it out, and now I'm sharing my secrets.
Forget boring savings plans! Learn how to invest in assets that make YOU money. We'll cover emergency funds, self-improvement (because YOU are your best investment!), and smart investment strategies. (Real estate fans, there's even a sneak peek at my course!)
This ain't your parents' retirement plan. It's an actionable roadmap to financial freedom and the retirement you deserve. Let's ditch the outdated system and build something awesome together!
This episode is brought to you by Premier Ridge Capital.
Sign Up for our Newsletter and get our FREE E-Book where you'll learn everything you need to know about creating financial freedom through multifamily syndication.
Visit www.premierridgecapital.com now!
This episode is brought to you by Premier Ridge Capital.
Build Generational Wealth As A Passive Investor In Multifamily Real Estate Syndication!
Visit www.premierridgecapital.com to find out more.
Retirement savings is hanging by a thread. Who should we blame for the internet price hikes and find out who helped former President Donald Trump pay his $175 million bond? These are the top three headlines in this week's Weekly Business Breeze. First up we all dream of kicking back in the beach during retirement, but here's the deal. That dream might be at risk. Why, you may ask. Well, because the traditional retirement system is facing some major challenges. Remember pensions, those amazing plans where companies took care of you during your retirement age. Yeah, those are pretty much gone. Social security Remember that one.
Speaker 1:The program that's supposed to be there for us might not be as reliable as we thought. Pot of money for this is shrinking and, if nothing changes, it could run out in the next decade, meaning smaller checks. So what's left? The 401ks? Basically, these are the plans where you stock away money with some help from your employer if you're lucky. And here's the kicker Only half of us are even using them. So retiring comfortably might not be as easy as our parents had it, or even your grandparents. We thought we have to take charge of our own futures. But don't panic folks. Here's a few tips that I'm going to share with you today that could help you. Full disclosure I'm not a financial planner. These are some things I've learned through some seminars and some strategies I've deployed and how I've become financially free myself. Think of it this way All these stories that they're telling us about Roth IRAs and IRAs these things are really cool, but will they create enough cash flow for you to live off of in your old age? That's a question, and I want you to look around your circle and see the people that have retired with their 401ks and their social security and ask yourself the question of they are living the life that you want to live when you reach their age? If they followed this advice and they got those results, and if you follow that same advice that they followed, what results do you think you're going to get? Probably the same results, right? Here's the thing about wealthy people. Rich people invest their money into assets that produce cash flow, and the cash flows allows them to pay their bills and end some and allows them to live and own their time freely, to do what they want when they want.
Speaker 1:If you're just getting started in this journey and you need to figure out how to do that, I'm going to share a couple of tips with you. Get yourself four jars, simple Jar number one you're going to put four to six months in reserves for emergency. Jar number one you're going to put four to six months in reserves for emergency. Jar number two you're going to save five to 10% for personal development. Remember, the marketplace will reward you according to the value you bring to the marketplace. This is your personal development, where you're going to go work on yourself, you're going to invest in courses, seminars and you're going to level up. The third one is going to be for investments. You're going to put 10% there where you're going to then study and learn where you can and what assets you can invest your money and then that money is going to come back and is going to create cashflow for you. And then the fourth bucket is going to be the bucket for your fun and movies and dinners and you're going to put a small percentage in that bucket for you to go do the things that you want to do in life. Remember, you have to figure out how to create cashflow for yourself when you reach a certain age. You might want to figure that out today. So I've created actually a course martinreimasterycom where I teach people how to get financially free with real estate If that's something that interests you. If not, my course you should go and get someone else's course. But you should be leveling up and stop listening to these traditional plans. And these rich people don't invest in 401ks Well, some of them do in self-directed 401ks for tax purposes I'm not a tax consultant for tax purposes, but they don't rely on 401ks or their retirement age. It's just one of the things that they use to create cash flow during that time.
Speaker 1:Next up, the ACP has been a lifeline for millions of Americans, providing crucial discounts on the internet service. With an estimated of 59 million people enrolled, the program has helped bridge the digital divide, sharing access to essential online resources for education, employment and communication. And now funding for the ACP is set to expire in the end of April. Without congressional action To extend it, millions of households will lose their internet subsidies, so this could result to skyrocketing bills and digital disconnection. But the plot thickens the Biden administration is now placing the blame on Congress, specifically Republicans, for failing to pass legislation that would extend the program's funding. This inaction threatens to superrate the digital divide and disproportionately impact low-income communities. Low-income communities, time's running out and they should do their best to ensure that millions of Americans remain connected and have access to opportunities the internet provides.
Speaker 1:The thing I don't buy about this thing not getting funded is that it's going to create a divide. I hate articles that want to victimize low-income people, low-income household. I want to preface this by letting you know, if you don't know, I grew up on welfare. I grew up on food stamps. I grew up in a drug-infested neighborhood in New York City. I think what's more important than internet is environment. What we need to do is we need to provide better role models to low-income neighborhoods instead of just the drug dealers that are there. That's what I used to look up to was the drug dealers in these neighborhoods. What we need to do is provide better role models that are doing things legitly and are winning, and not be focusing on the digital divide, as this article tried to call it. I think that's BS. I don't believe that the internet will create a divide. I don't buy that.
Speaker 1:And then this week's Trump Watch Donald Trump securing $175 million bond in a civil fraud case by New York Attorney General Letitia James. The lawsuit alleges that Trump and his children, donald Jr, ivanka and Eric Trump, misled investors about the value of his assets in order to obtain loans and tax breaks. Originally, the court set the bond at $464 million, but it has later been reduced to $175 million. Trump secured a bond through Knight Specialty Insurance Company. The company's chairman, don Hankey, is a supporter of Trump Duh right. I've talked about this a few weeks ago in our business brief. Trump denies any wrongdoing and plans to appeal the decision. If he loses the appeal, he could be forced to sell some of his assets.
Speaker 1:So here's the situation. I have a small 12-unit apartment building I bought a year ago. We redeveloped it. We're in the middle of redeveloping, we're pre-leasing, we're getting to the end of the construction, we're going to be creating beautiful apartments and we're going to create affordable housing in the community that we put these in. I've contacted my banker and I told my banker, based on the projected leases, based on the projected expenses, my net operating income is going to be XYZ and based on that income, I believe the value of my asset is going to be $1.8 million. She says, okay, no problem, martin, we're going to be ordering an appraisal. This is real, by the way. This is actually happening. We're going to be ordering an appraisal as soon as the project is done and the project is complete, then you have one lease in place. We're going to order an appraisal so we can start the underwriting process.
Speaker 1:Now the appraiser is going to go out there. The appraiser is going to say this property is worth whatever he thinks is worth. Maybe he'll say it's 2.1 million, maybe he'll say it's 1.7 million. I'm not sure what the appraisal's opinion on my value is going to be, but here's what I do know that the ultimate word is on appraiser's opinion of the value of my asset. Whatever I think it's worth means nothing. It's just an opinion on the application and what I think I should be loaned. But what they're going to lend me on is going to be on the appraised value, the actual appraised value. So now that's like saying three or four or five years later I do this transaction and they come back to me and they said on that application, martin, you said the property was worth $2 million and it only appraised at $1.7 million and you got a loan for $1 million right On that deal. I'm just making up a number here and you got a loan for $1 million. Therefore, we're going to fine you $500,000 because you lied on that application. That's like whoa.
Speaker 1:This is exactly how this business work, guys, and this is exactly what they're doing to Trump. It's exactly. Whether you like him or not like him. This is an assault against the American people. It's an assault on capitalism. It's an assault on the way we do business in this country. It's the way business is done with banks. This is the way the business is done. You give your opinion on what you think the property is worth, right, based on the math and based on your experience and based on cap rates, the formula we use, the capitalization rates and the NOI and things like that. And now for the government to come in because they don't like this person and say that's fraud and we're going to fine you. Guys, this is an assault on all of us on the American way, and this has been your weekly business brief. I'll see you, guys, next week.