23/02/2024

Habits To Become a Millionaire


One of my all-time favorite quotes came from a movie I watched seven years ago called the kingsman before the main character and his mentor were about to get into a fight at the bar the mentor dropped this line manners maketh man now that quote is a popular saying that it's been around for centuries and it means that one's behaviors and manners are an essential aspect of their character and they Define who they are as a person now if I could tell the younger version myself one thing it would be this manners maketh man but habits maketh the millionaire so in this here I'm going to share with you my complete list of 10 habits that have absolutely changed my life from worrying about money every single day to being in debt to now making millions of dollars. 

I believe if you follow every single one of these habits consistently that you too can change your life and if one of your goals is to make a million dollars and more I believe that is fully possible so to begin the first habit that has made me a multi-millionaire and I truly believe this and it's something very simple that all of you guys can do and that is reading every single day ask anyone who knows me well but I try to read anything I can get my hands on and this could be from just reading generic books to going through articles and even in the grocery store when I'm standing in line oftentimes I read those magazines if it's taken a while and to even this one I thought actually a lot more people did this but then I found out not a lot of people do it and I'm a little weird but I actually like reading the manuals of the laundry machine or of the or just pretty much any new piece of technology that I get one of the reasons I do this is because I've had a habit of wanting to learn new content and expand my skill set in any Market that I can there's been many studies that have also shown the benefits of children reading books and I fully believe that reading not only benefits children but it can even benefit adults if not even more.

What children are getting in some recent science backed stats we've also heard that reading has been proven to Aid depression it reduces mental decline by 32 percent it can lower your blood pressure and heart rate leading to a lower risk of stroke and heart disease and also reading gives you new ideas and it promotes creativity in a popular survey that came out a few years back it was actually shown that the average Fortune 500 CEO reads four to five books per month and I know that might seem a bit more excessive and time consuming but the successful businessmen and business woman know the importance of fueling your mind with new ideas tricks and strategies with social media and Technology withering away at our already short attention spans this here I believe is the most important habit that has allowed me to have access to untapped wisdom and meaning in my life now it's important to note that growing up I was never a huge reader and frankly I admit here that I actually hated to read but about four to five years back I remember just hearing some places from entrepreneurs talking about the value of books and I got into things like Rich Dad Poor Dad the four hour work week and atomic habits and I slowly realized just how amazing it was to have access to knowledge that I could tap into at any time whether I needed to learn about business marketing or starting a YouTube channel or just getting Insight on finances and how to grow my money all of this was available online or just in the form of books for me to read now whether you read four books a month or you.

Start with one good book every few months I believe that just having intention of being able to sit down stay present and consume content from someone who might know it a little bit better than us is tremendously valuable in itself if you're someone like me who you know you really still don't like reading books no matter what I remember even just a few years back when I was first working the commute on that was about an hour to work and then hour back and in the car ride I'd actually listened to audiobooks on on the way and even with that as long as you're listening and paying attention I believe they're still equal or if not more value than just reading a plain book the less articles and less short form content we consume the more you're going to be able to grow the patience that you can then apply to other things in life going back into the topic of books some of my favorite ones that I grew up reading was Think and Grow Rich by Napoleon Hill the wealthy Gardener time management not mind management by Dave Academy and the OG top selling book on my list the Bible now the second habit here on my list is working out so if you follow me on social media you will know how much health means to me there was a time when I was going to the gym five to seven days a week while still being able to play division one rugby and there were even other times I would exercise twice a day no matter what after I got sent to military school back in the good old days of sixth grade I've been working out pretty consistently it was around.

The age I believe I was like 13 or 14 before I could even get my own gym membership that I had built my own raggedy bench press in my parents basement teach myself the fundamentals of lifting weights before I began to make the habit of working out an essential part of my life almost as essential as just drinking water now it's through this habit of working out that I've learned pushing myself to the Limit not only strengthens my body but also the mind I've also learned that in this life that you know we're gonna go through many stresses and different types of hardships and working out eventually became a form of therapy and something that I actually looked most forward to at the beginning of the day through working out I found direct benefits and just even having more confidence and having more energy to work and just being able to have the mindset and mentality to overcome a lot of those obstacles that we Face day to day it's important to note that no matter where you are I mean you don't even need a gym membership there's still,  plenty of different exercises that you can do at your home with your body weight alone and even with going on YouTube and looking up some quick exercises you can find that this here really costs no money and you can get started today nowadays when I'm feeling burnt out I know that if I go to the gym I'll come back feeling more renewed and recharged a lot of times people assume okay if I go to the gym I'm gonna be exhausted because I'll be tired for the rest of the day once you build up the habits of doing this and this is actually the key here you'll realize that a lot of the things that normally take a lot of willpower and energy to complete eventually become autonomous and it goes into your subconscious and then your unconscious mind where you don't have to try you don't have to exert extra energy in order to do these healthy habits and it just becomes a natural part of your routine in addition to the dopamine and endorphins that your body puts out when working out exercise also promotes neuroplasticity.

This is a huge role in learning new skills or learning new activities and just becoming better at staying flexible and they would say being young in order to learn different things now the third habit here on my list this is the most underrated one and this is actually walking so according to multiple studies the most creative people actually tend to find Solutions and ideas of or you know what is called the aha moment during times when they're doing something else and they're not trying to stress and find the solution to the problem daily walking opens up the Gateway or the door for you to have more access to those aha moments now this is because several Studies have shown that just walking outside helps mitigate the feelings of anxiety or when you get overwhelmed and allows you to build more creativity by increasing the energizing effects of fresh oxygen coming to your brain and just moving for me I remember in the last four to five years even before I had credit Astro here that I would go ahead on these intentional walks every single day to get some sunlight and to get some fresh air and it was in these moments where I had some of the best ideas that have done crazy amounts of numbers on this channel and even some of the craziest and best most successful business ideas came from a lot of these walks now aside from just the mental benefit that you get it's also a great form of exercise I remember back in high school there was a girl I knew she was about 300 to 400 plus pounds a great great person but you know she was struggling a little bit with her.

Weight I remember one year I saw her she had turned into a complete completely different person I couldn't even recognize her she was down to about a hundred pounds and I had asked her what that one secret was and she said she just went on a lot of walks throughout the day so walking is not only a great way to just take a break and to you know tap into that Creative Energy but it was a great way for people to lose weight to stay active to get those steps into now there's a lot more studies showing just how bad sitting is for our health thing walking and just being able to move this is something natural to us it's what our ancestors used to do and a lot of people tend to forget so having little tools for me even like something like this my aura ring it tells me how often I'm walking you don't need this you could have an Apple Watch you could even just keep your phone in your pocket and track how many steps you walk and just by incorporating small bits of habits and little things like this within your day.

Maybe a brisk walk once a day twice a day three times a day you'll start to notice a lot of the shifts in your life it's as little and simple as something like just getting fresh air and being present and going for a walk where I believe has really contributed to my success over the past few years now the fourth habit here here on this list is to keep an optimistic framework now what does this mean so keeping an optimistic framework just goes into keeping a positive attitude or just having positive self-affirmations I remember  when I started business and I really started to tap into the whole self-development world this one shift in my mindset allowed me to keep going when I thought none was possible I remember a countless amount of times to just trust the process even when I had achieved nothing and seen zero results as humans it's natural for us to constantly worry and to deal with negative thoughts but by filling it up with positive healthy affirmations this is what can allow you to keep going when things get tough or when you're unable to keep up with some of the earlier habits that I even mentioned now it's important to know that self-affirmations like just doing this is not going to make you a multi-millionaire overnight but by backing the good positive affirmations with dedicated hard work I believe that you can set yourself up for a journey of success now the fifth habit here on my list this is going to be entering Flow State now I'm sure everyone has felt flow before this could happen to you when you're playing a game and all of a sudden you realize like three hours.

Has passed by and you had no idea or you get sucked into reading a book and all of a sudden a lot of time is flown by getting to the state is going to lead to higher output a higher quality of work and it can give you a sense of clarity on what needs to be accomplished and it also makes whatever activity you're doing much more pleasurable now if you're able to take the ability of going into Flow State then putting that something like the work that you do this is where things start clicking I realize at a certain point that for me in order to get into Flow State back when I was living at home my parents it was too chaotic in the house it was too messy that I would have to drive to a Starbucks I would have to put my noise canceling headphones I'd have to put on a certain Lo-Fi playlist and even things like this there are triggers that you can create like chewing gum before I play a rugby game and I wanted to put myself more in that flow State I'd always chew a piece of gum there are sometimes different times when this happens if you're really tired in the morning it's going to be harder to enter this state but maybe towards the end of the night if you're a night owl this is when you can find yourself entering it even easier now ladies and gents I believe being able to go into Flow State at your control is actually one of the most powerful tools that you can have so regardless of whatever work or job or industry you're in if you're able to stay present and enjoy what you're doing this will change your life and if I can.

Only choose one habit out of all the ones that I mentioned if I can continuously get into Flow State this is the exact habit that I would keep around this here is huge and there's actually a ton of great resources on this and a ton of books if you literally just look up Flow State book you'll find endless amounts whether you're an athlete an entrepreneur or you're just trying to be a better person take a look at this because it really is game changing now the sixth habit here on my list is to learn a high income skill now there are skills like editing writing graphic designing and online marketing that are invaluable in today's business world as an example when I first got into the whole world of YouTube I had no experience in this a lot of people always thought that I went to school for like you know videography editing Journey journalism I mean I've heard it all did I go to school for finances a business no I actually went to school for criminal justice thinking that you know one day I wanted to be a detective.

And to be like an FBI agent or CIA I always thought that was really cool all of this knowledge and the skills that I learned came from the internet and came from the act of doing first and if I was able to do it with just the internet and zero dollars in my pocket this is something that I know all of you guys have access to as well so whether it was editing these early on or you know doing graphic designs for thumbnails or just the ins and outs of videography like knowing the audio like I got a I got audio player you know all this stuff I had to set up at some point or setting up angle or knowing a little bit of design so I got a decent looking Studio it's all these type of things by learning these skills I was able to monetize my own personal brand but I can also offer my service as a freelancer or a contractor all of this is available online I've made countless amount on starting side hustles starting different types of skills getting into different businesses and if you have a computer and I know most of y'all do and this year there is a game-changing habit that I recommend everyone to learn now for habit number seven this is actually to cut out negative people so all the things that I talked about it was picking up something or doing something proactively but this one here is to avoid something and this is huge I realized in the beginning of my journey that I was surrounded by a lot of negativity and this would actually prevent me a ton from being able to grow my business and to change my mindset now guys I even have crazy stories where like I had friends who had made fake Instagram accounts to DM some of my old businesses to tell me how it wasn't gonna work out or how worthless it was there were also countless amount of times where I decided to tell my friends at that time I don't want to hang out I don't want to go out I just want to stay home I want to work on my business and it would make me feel guilty about it I think many entrepreneurs have a story similar to this but it is so important for you to realize that you need to move away from negativity you need to move away.

People that aren't going to be a good influence and it's in those moments where even things like this where you say no to yourself know the video games no to  will know to eating unhealthy Foods or no to pornography it's things like this where you start to create a better system and a healthy lifestyle for yourself and it's from saying no to these things that you get revealed all these better things in life there was an old saying that I used to keep in mind and this is still very relevant nowadays and it's that you become the average of the five people that you spend the most amount of time with so I looked at the five most average people that were closest to me in my life and I realized okay maybe for at least this temporary moment I need to learn to say no and that was actually one of the ways that I truly believe that I could begin to separate myself and to start making an impact in what I did try your best to avoid people like this because negativity is truly a toxic trait and if you're trying to improve your life to at least become a millionaire one day you need to surround yourself with positivity and to have good healthy positive relationships surrounding you for habit number eight this year is huge and this is journaling and I found that daily journaling was essential in for me to maintain consistency with all the habits that I had not only that but journaling has allowed me to stay motivated because I could track my progress I could plan out what I want and make sure that I am moving towards that goal and last.

Not least journaling allowed me to relieve so many stress in all the times that I felt overwhelmed this is because just the act of getting your mind and your thoughts that may be running onto a piece of paper there's really a lot of power in that and just doing that having a clear head it allowed me to focus on some of the other habits that have allowed me to be successful journaling does not take up a lot of time it can literally be like five to ten minutes of your day and if you don't want to journal with a piece of paper and Pen you can also do this on your phone within the notes section or there are a lot of little apps where you can log in a daily reflection I personally love the fact that I chose to journal and not go with the digital format because now I have stacks of different journals that I can look back to and if I want to see what old Billy Jung was thinking back in 2018 I just opened up that journal back then and see exactly what my goals were what was on my mind what my stresses were and what my dreams word that I achieve and it truly is a rush of inspiration anytime I go through those journals and just realize what my goals were back then and seeing how far I've came now so if you've never journaled before if you're not consistent pick this habit up it really is worth doing now the ninth habit here on my list is to visualize and to have a dream board when I started this back then I didn't realize how powerful it would be but having the constant visualization of my goals and dreams for me to see boosted my motivation and my drive and it.

Allowed me to also feel more optimistic about the future even if that success didn't happen at that time visualization also increased my confidence by allowing me to see a positive outcome on what I was doing at the time even though I didn't see a direct reward this is because I was working countless amount of hours but I was not making money and even during the times where I saw more output but I'll seem less in the bank account I would look at my vision board I'll look at the dreams and realize okay this is just temporary and I know that things will get better and I will have that dream car I will have that dream apartment and I will have that a hundred thousand dollars in my bank account if you have never visual realize what your dream future would look like the car start today it's okay to have the car that you want on the background of your phone it's okay to print it out and put it in a photo frame for you to see every day if your dream is something less materialistic and it's like you know having a nice healthy family or having that dream relationship or having the dream trip with your loved ones that's all viable too but have visualization of what you do because if you're able to see it that is one step closer to achieving it now for habit number 10 I believe this here is one of the most important things that I've done over the past one to two years that has allowed me to go from just making a hundred thousand dollars consistently every single year to Breaking past the multi-million dollar level and I believe.

This is what's going to allow me to go from Seven figures to the eight to even hopefully one day nine figure Mark and that is to build efficient systems as an entrepreneur you're wearing a lot of hats and if you want to become a millionaire you need to eventually learn to build systems this doesn't just have to happen within your work but Building Systems all across your life is going to be one of the best ways that you can say save time save stress and allows you to focus on the things that matter this could be like if I get an Amazon package instead of just you know leaving it out there to sit I have a system of opening the package throwing away the trash putting it where it belongs and making sure that my place is tidy so I don't have to spend one whole day cleaning my entire house aside from that you could also have a system of going to the gym and knowing what you're gonna do so instead of just going on your phone and you know thinking about what workout am I going to hit how many sets you have a system okay when I go to the gym I'm gonna get this yoga mat I'm gonna foam roll I'm gonna do this five to ten minute stretch I'm gonna get into this workout here that I do every single Monday you have a system that is in place that allows you to focus on other habits it's eventually where you have the proper systems where if you want to Outsource to having a team that they can pick up on the system that you have this is also within the corporate world called an sop or a scope of procedure.

And this is where you can start getting loads of your work off and then start moving forward so regardless of whatever stage you are in life try to build systems and all the things that you do whether it's it's going to work or you know trying to build up certain processes or even the way that you may look after your kids if they're going to school and then you gotta feed them and do all this you can pre-cook or have these meals or these systems where they know what you're going to do and you can save a lot more time at the end so ladies and gents in conclusion discipline out of all of these is going to be the most important key in adopting habits and staying consistent now to become a millionaire it's not necessary to adopt all 10 habits even nowadays I don't keep up with every single one every single day but incorporating as many as you can can improve your chance of success so you know if you miss journaling one day but you're able to go to the gym I do think just the act of having healthy habits will be able to change your life and guys look all of this is a journey you don't have to be a super soldier you're also supposed to live and enjoy your things now just know that these 10 habits have contributed a hundred percent to the success that I have today but it doesn't mean that you need to do it every single day and it's the only way take this as motivated inspiration and hopefully you guys are able to get some value out of this if you have any type of favorite habit let me know Down.

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How To Invest In Dividend Stocks


This is gonna be your full beginners ultimate guide on dividend investing first of all we're gonna go over what are dividends we're going to be talking about why companies actually pay a dividend we're going to be giving you the rundown on how to choose specific dividend stocks we're going to be talking about the examples of strong dividend stocks we're also going to be going over the power of dividend investing and not only that but ladies and gents I'm also going to be hooking you up with a bunch of free stocks now before I actually get into this PowerPoint presentation if you guys are interested in picking up a copy be sure to check out the newsletter Down Below in the description and I can email you guys one there as well alright so to kick this video off what are dividends what basically Dividends are just payments made by a company to its shareholders from its profits or reserves now the payments are normally typically made in cash but can also be in the form of additional.

Shares or other assets and are normally paid out quarterly so normally companies do this as a way of distributing some of their profits to their shareholders now shareholders are owners of the company and once a company is listed on the public stock exchange this is pretty much that saying you've heard where it's like oh I just bought like a single fractional share of Chipotle so that makes me an owner they're technically not wrong when they say that and this is pretty much just a way that a company rewards individuals for deciding to invest their money into their company now the reason why companies end up paying dividends is because it normally attracts investors to a company because there are individuals who solely look at companies that pay dividends as a source of regular income dividends is also a good sign that a company is normally financially pretty healthy and stable and that they have confidence in being able to pay out even more future earnings now not all companies pay dividends some may actually choose to use their profits for other purposes where it could be reinvesting back into the business or paying off debt or even buying back more shares but generally we have seen a lot of these companies choosing to pay dividends because they know just how many more investors that it would tract now dividend investing doesn't need to just happen within the stock market as an example ladies and gents I also co-own a restaurant here in Rockville.

 Maryland and I also receive a monthly or quarterly check from the owner's profits and to me those are pretty much like dividends too I've gone ahead and invested my hard-earned money and then every few months or every month depending on when I want to get paid I get paid a lump sum of how much the owner's profits end up being now although by definition Dividends are more equated into the stock market you can also take for example if you bought a certain crypto and then they air dropped where they literally just put extra crypto into your account for holding that crypto that could be a form of a dividend payment to back up just a little bit though hopefully that gave you a better idea of what Dividends are and how they can work universally in different markets sticking to what we know within stocks let's talk about what makes a dividend stock particularly good so this is going to be made up of four different factors it's going to be one of the dividend in yield to the dividend history three the financial stability and for the industry and the market Trend so dividend yield is pretty much just the annual dividend payment as a percentage of the Stock's current market.

Price so as an example to make it easy if a stock has a five percent annual dividend yield and they're priced right now at a hundred dollars per share you would be paid five dollars annually or a dollar 25 cents quarterly per share that you own going into a dividend history this pretty much just indicates the company's commitment to returning value to shareholders from what they've done with their track record of consistently paying and increasing dividends over time now there are going to be some companies that have been paying out dividends for a very long time while on the other hand there are some companies that have just recently started to do this in case you didn't know but a company always has the option of pausing or opting out from paying shareholders dividends just in the case that they need additional cash to run their business operations or if a company is doing really well and they decide okay we got too much extra profit let's give it out to our shareholders then that is another option too going into Financial.

Stability this here is crucial to its ability to see whether or not if a company would continue to pay dividends over the long term as an investor you always want to evaluate factors such as the debt level the cash flow and the profitability to ensure that the company has continued resources to sustain those dividend payments last but not least what makes a dividend stock good is going to be the industry and the market Trend now there are some industries that are way more stable than others and there are certain market conditions that may affect a company's ability to pay a dividend since dividend stocks are long-term Investments you're most likely going to be able to hold these positions during Bull and Bear markets finding a reliable company that will stay in business which is going to be consistent in getting your payments into your wallets every single quarter or every month depending on when they pay you out now if you find a company that is able to have a good dividend yield they have a good history they have good Financial stability they're within a good industry and Market Trend always make sure that you also look at the stock price there are a lot of people who get so caught up in companies that pay the most amount of dividend for the lowest stock price that they may be at but if a company is eventually just gonna end up tanking and in the last two to three years they've just continuously gone down in price the dividends you get from them is Gonna. 

Cancel out the profit that you may make when at a certain point you need to actually realize the profit of the loss on the certain stock that you bought if a company is bad and they're going down in price and they might end up going bankrupt just because they're paying you thirty dollars in dividends for holding a share it does not mean that it is a good investment now dividends stock red flags to avoid there are four more things you need to know about within this category and it's going to be excessively High dividend yields it's going to be history of inconsistent dividend payments it's going to be companies heavily reliant on debt and then companies with weak financials or declining earnings when it comes to excessively High dividend yields high yields may actually be unsustainable and it could be a warning sign of underlying problems with the company there are been historic moments where companies will provide High dividend yields to raise even more money to look more attractive but they are just pushing out the inevitable death of that company going bankrupt don't fall victim or prey to those dividend yield numbers and make sure that you are wary about what company that you are investing in and you have full knowledge of their financials there are going to be some companies that have a history of irregular dividend payments or that have cut or suspended dividends in the past many times if that's the case the track record of their past might be an indicator of how they are in the future and you don't want to be dealing with that either now companies that are heavily reliant on debt is also another.

Huge risk of defaulting on their debt payments which could also make it difficult for them to continue paying dividends to their shareholders there are some companies that have an exception where if they do rely heavily on debt but they are positioned well where they have positive cash flow that is consistently coming in every single month this might not matter but for the most part make sure you do at least take a Second Glance within the debt sheet for any dividend comp company you decide to invest in last but not least companies with weak financials are declining earnings look if a company's earnings are declining over time it could show that it's just about a struggle it might not generate enough to pay its own bills and let alone pay the dividend to their shareholders so just know that this could always be a huge warning that the company may have to cut or suspend its dividend payments or their stock price just might continue to fall down so Brian okay we got the good we got the bad of dividend stocks I got the definition well can you tell me a few good dividend stocks that you know of so I'm gonna list you three good dividend stocks according to Warren Buffett's top performers.

Warren Buffett is one of those OG individuals where he's been able to rake in billions of dollars every single year just from his dividend income so for the first stock we have Kraft Heinz and Co this stock here is in the consumer food Staples industry it's not going anytime soon if you have ever used ketchup you'll be very familiar with this brand and they actually had a 30.48 gross profit mark margin in 2022. now the second stock here a I'm gonna call it Avi which is actually just a research based biopharmaceutical company which engages in the development and sales of pharmaceutical products this company here is well positioned in their sector and it's always reinvesting back into r d which is research and development and according to their numbers they have plenty of cash flow third stock coming from Warren Buffett's portfolio is Johnson and Johnson you guys may have heard of this but they engage in the research and development of manufactured and sale of products in the healthcare field they have very strong financials and there will always be a demand for their products in different market conditions now those dividend stocks are going to be a bit more conservative but let me show you one of my favorite dividend stocks that has actually generated me over 323 percent on just the stock price alone and this is going to be Academy Sports and Outdoors as an example this stock here is something I bought into back in I believe 2000 20 it's one of my best performing stocks currently and they're right now giving me a dividend yield of 0.47 depending on what brokerage you use you can also enable the automatic feature where if you get a dividend it automatically reinvests back into the company so you can continue to grow your Investment Portfolio now if I go into my history for this stock you'll notice that whenever I get paid a dividend it'll reinvest here and it'll tell me exactly how much in dividends. 

I'm getting paid so I got a payment for October 13th one in January 13th one in April 13th and it's nice to just get even free dollars while my position and my investment continues to grow throughout this recession all right so now you guys have a bit of an idea on how dividend investing works but how much money can you actually make and is this all even worth it sometimes it seems like just getting a dollar sixty cents won't compound too much but you'd be surprised to show you the true power of dividend investing on a long term scale of about 25 to 30 years let's go ahead and pick just two of the stock that we mentioned from Warren Buffett's list to do some future projections so ladies and gents to do this I went ahead and found the average stock price appreciation from the previous 10 years and also the average dividend growth of the last 10 years and used those numbers to project the 25 and 30 year investing rate for dividend growth we're going to be using the factor of an annual contribution of a thousand dollars so a thousand dollars per year and an initial investment of just purchasing a simple 10 shares so when it comes to ticker symbol a BBV with an annual yield growth in the past 10 years of 1.81 to 3.68 the average growth of dividend payments is going to be 0.155 per year in the last 10 years which is going to be 40 to 161 dollars in the past 10 years now fast forward over 25 years by reinvesting those dividends you would have an end balance of 6 million 845 209.

Dividend income of 760 C2 463 dollars Now by not reinvesting those dividends you would have an end balance of three million six hundred twenty eight thousand seven hundred forty four dollars or a total dividend income of just four hundred fifty three thousand two hundred fifty eight dollars now over thirty years of a thousand dollar annual contributions by reinvesting your dividends your end balance would be 29 million six hundred eighty six thousand dollars with a total dividend income of three million three hundred thirty eight thousand dollars versus not reinvesting those dividends you would have an end balance of Thirteen million 612 versus only just a million seven hundred twenty two thousand dollars so what this shows us is just by reinvesting those dividends you would net an additional three hundred nine thousand dollars over twenty five years of investing from just an additional five years your dividend income would be increased to over 2. 5 million dollars so ladies and gents I know for that example it could be a bit of an anomaly just because of the rapid increase in the stock price for the past ten years for ticker symbol abbv so let's use Johnson and Johnson as another example of how much the power of dividend investing could yield you so with J and J we have an annual yield growth from the past 10 years of 2.

Roi of 140 which comes out to be about 14 annually so over the next 25 years of just investing a thousand dollars annually and reinvesting those dividends your end balance would be 360 000 or a total dividend income of fifty five thousand four hundred eighty dollars by not reinvesting those dividends you would have an end balance of two hundred twenty four thousand dollars or just thirty nine thousand four hundred thirty one dollars so here we're gonna learn a few things by also taking a look at the 30-year rate of a thousand dollar annual contribution you would have an annual balance of way more it would compound significantly it would almost double for an end balance of nearly 709 thousand dollars versus an inbounds of four hundred thirty eight thousand dollars if you do not reinvest those dividends so a few things that we can learn compound interest is real it takes a bit of time 25 to 30 years is nothing to just uh cap out about because that's a long time from now but the money that you decide to invest now with those dividends you're playing a long term future plan 25 years could result in just two hundred twenty four thousand dollars where if you held it in and then kept those dividends in for another five years you'd be seeing that money double now at this point in the video ladies and gents I want to make sure that you guys get hooked up with those free stocks and here's how you can do it go to the link Down.

I know they don't have the coolest name in the world but they're gonna give you some free stocks MooMoo just came out some breaking news to let you guys know that they'll be offering 20 free stocks for the month of May so if you want 20 full free stocks be sure to check out the links Down Below in the description all right so what I'm gonna do is click on sign up and then I'm going to go ahead and create a new account with an email from here you choose the country of tax residence that you live in I'm sure most you guys are from the US but if you're not you can go into other and from here you put in your basic information after you do that you click next and then you're required to put in your social security number don't get freaked out by this part right here any type of brokerage or financial platform that you're using generally requires your social security number not because they want it but because it's just required by law so I went ahead put my social security number in there and then I'm also going to put in the address that I live in once I do that I went ahead and put in my full address you put in a little bit of information just about your employment status let's say I'm unemployed right now salary I make about fifty thousand dollars per year.

I don't have a big net worth so once you do that you want to go ahead and verify a phone number so once you do that you want to then deposit the required amount the app once you do that you'll also have the qualification education for those free stocks get them into your account redeem them and then from there you can do whatever you please so MooMoo is going to be your all-in-one trading platform that not only allows you to buy and sell stocks but they also have some pretty dope analysis tools and up to 2500 free investing courses and many other beginner to advanced level friendly features so if you want to enjoy commission free trading with all the Fantastic features that I mentioned ladies and gents check out MooMoo Down Below in the description thank you to MooMoo for sponsoring this small portion of the video alright so ladies and gents before we wrap up this video we have five powerful dividend investing quotes and tips to motivate you guys and to have some takeaways before leaving y'all on your journey to start out with number one at the most important quality for an investor is temperament not intellect so do not be trading off of emotions and dividend investing really follows that because it allows you to play that long-term game he also mentioned someone is sitting in the shade today because someone planted a tree a long time ago this year's just really talking about the fruits of the labor of someone who decided to invest a long time ago where their future generation can reap those benefits and those rewards a lot of people can't depend to get wealthy just overnight but it's always good to play the long steady route because over time that tree will grow and that shade.

Someone has of comfort will be over them because of what you've done he also mentions number three be fearful when others are greedy and be greedy when others are fearful I'm sure you guys have heard of this quote many many times but it is true especially throughout this recession or if you see people getting greedy all of a sudden be a little worried or if you see people all just afraid no one wants to invest then consider maybe this is a time for you to start averaging back into the market Peter Lynch stated behind every stock is a company find out what it's doing so this pretty much just shows us every company out here listed on the stock market exchange they're doing something they are not just pixels on a screen they are not just words on your phone that you're reading but these are real companies with real people that are trying to make an impact to whatever Market that they're in last but not least with Warren Buffett once again he States unless you can watch your stock holding decline by fifty percent without becoming Panic stricken you should not be in the stock market so this quote here is just a reminder that no matter what happens within the stock market be careful about those emotions and if you're someone who thinks you're gonna freak out sell it at the first chance you get this might not be the path for you now guys I also have some resources at the end of this it's going to be a stock research tool dividend calendar and a financial education Investopedia link if you guys want to have access to further tools and research or you guys.

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How To Instantly Get Approved For Business Credit Cards


Here is going to be a straightforward no BS guide on how you can get instantly approved for business credit cards just a little bit of background about myself by the time I had turned 22 years old I had been approved for over six different business credit cards with the top credit card issuers and in this let's talk about a few major misconceptions about business credit cards and then after that I'm gonna go step by step into my computer I'm gonna walk you through on how to get approved for these business credit cards on these applications because I know the application itself can be a little bit of intimidating compared to a personal credit card application there's a lot more you got to worry about a lot more questions that they ask you so I'm going to show you exactly how you can answer it all in the right way to make sure that you guys do get successfully approved all right so first of all misconception number one when it comes to business credit cards.

 I don't blame you if you guys have this because I had this misconception too and it's the fact that only large and established businesses are eligible so first of all anyone can apply for a business credit card this is not just reserved for the ultra rich or businesses that have been around for many many years but the term business is applied very broadly within the states and the most popular example are people who might be self-employed whether you're a dog walker on Rover whether you're a content creator whether you're selling and flipping different shoes designer bags clothing whether you're a babysitter whether you're a tutor or you're an online Blog owner you're a contractor if you do anything at all closely related to the fact that you're able to make income for yourself and you're not working for another employer you are fully eligible to apply for business credit cards and even get accepted the second misconception is this you do not need a legal business name with an EIN to qualify now although getting an EIN is a pretty simple process and I recommend everyone to do it your business does not need it you don't need your own business address you don't need a brick and mortar store your business also does not need to be profitable your business does not need to have employees and your business does not also need to fit into any one of the categories that's listed on the credit card application look when I applied for my business credit card about five years ago.

Under any of those categories of a business but I still got approved I was also quite young I also was not making any money I think I made twenty thousand dollars or less than that for that entire year and I had no real main source of income other than my part-time job working with kids who had disabilities and working with my dad doing hardwood floors my income was so low that I thought okay if I'm not gonna get approved for fitting in the category if I'm not going to get improved for having a real address because I work for my parents house at that time I wasn't even renting an apartment why would they approve me well they ended up doing so the main reason is because credit card companies look at just two main things they look at your personal credit score at most and they also want to verify if you are the owner of whatever said business that you are claiming those are the two major misconceptions and if any of that resonated with you drop a like down below alright so the next thing that we're gonna do is just open up one of the links Down Below in the description those links Down Below in the description give you the same offers that you would normally find if you're trying to apply for any one of these credit cards but it supports this but at this point of me doing YouTube for the last four to five years and going through the bear Market the process of making these at the consistent rate that we've been doing it takes a lot of work we now.

Have a rough draft editor shout out to my boy is fun we have my main editor Ben we have the scripting process that I handle we have the outline process that I handle we have a full-time thumbnail designer and just the whole process of putting together a simple like this actually takes a lot of time so if you guys do want to support my team so we can continue to reinvest it back into the production and the quality of information that you guys can get be sure to check out the links down below at any time when you think of applying for a credit card check out these best business credit cards let's do the chase Inc business unlimited still one of the best business credit cards to get we're gonna click on apply now we get this fancy little animation coming from uh Bank rates then one more time there are a lot of loops and not only that there's a whole application we need to go over let's do this together process is very easy first name last name go ahead and put that in your mother's maiden name you put in your date of birth here you're then going to want to put in your social security number if you don't have a Social Security number and you have an itin number you also have an area where you can fill that out here whatever address you're living at if it's a domestic address you have the option to do it there if you you know are serving in the military you have a military address they actually have a little section for that as well go ahead and put in your email address and your phone number so Chase can have your consent to send you automated calls and texts about your account and here you want to put your total gross annual income here's a big Tip since a lot of the banks here are going to normally fall back to look at your personal credit score you want to make sure that you include the revenue from your business and your personal income in this section so as an example if I was making fifty thousand dollars a year at my job and I have a side hustle of reselling sneakers and I'm only making less than five thousand dollars.

From that I would put something like 55 000 maybe I'm just like a kid getting out of college you know you're it 20 years old you want to get into the whole world of business credit cards and be an entrepreneur I was I was literally in those in that situation that was me back then I didn't have past previous years of income or tax returns to show that you know my business was making money but I had a few months of proof so I remember my Shopify eCommerce Drop Shipping Store in one month I had done in revenue and if I did that for a projected year I would do the average of that 11 000 I would then multiply that by 12 whatever number that gives me if it's over a hundred thousand dollars that's what I would put Chase even mentions here this is what you earn or reasonably expect to earn in a year you don't need to be exact okay they're not looking at this with a microscope but just give your best estimate don't lie on these applications uh to fill this section out so the next section here they're going to ask you about your business info and this year is very simple more often than not you're gonna be a sole proprietorship but if you happen to be you know an LLC registered with your state obviously go for an LLC even right now for my business I'm an LLC but if you didn't know you could actually get taxed as an S corp that's exactly what I do instead of having to file myself as a corporation but still get the the full benefits of legal protection and also getting the tax advantages of being a corporation for business legal name if you don't have a business legal name if you don't have like a merch company or whatever it is you can use your full name that's completely fine and I've done that many many times does your business use another name like a trade name or DBA more often than not it's not okay so just do no on this if you don't know what any of this means it probably does not apply to you at this point you have the option of putting in your EIN number.

If you don't have an EIN like I said you can put in your social security number like you did in the above page is your business's physical address the same as your personal address this is a yes or no they updated this back then they actually made it a little confusing but they have this here most often if you are working from home if you don't have an office if you don't own a franchise with an actual location your physical address should be the same as your personal address this is not going to hurt your chances of getting approved for the card even for me right now at this stage making multi seven figures I still work from home that is a yes so when it comes to number of employees if you're the only person that works under you if you don't have any like full-time employees that you're paying W-2s for go ahead and enter zero for this section if you don't have a business phone number you can use your own personal phone number but it's really easy to get a business phone number you can do it completely for free you can sign up for Google Voice they'll give you a free randomly generated phone number business established date I always round up because I personally don't remember when I started my business officially so I'll just do like the first of you know maybe 2019 like four years ago when it comes to annual business Revenue be honest about this section if you haven't made that much money from your business it's completely okay that doesn't disqualify you from having some of these cards.

On a safe note I'd say you know twenty thousand dollars is a number that I would personally go with if I was to do this application if I'm starting out all over again when it comes to the business category this might trip a lot of people up because the only businesses that they have is like super traditional stuff so you're just gonna have to put in whatever's closest to whatever industry you're in as an example you know I might say I'm in finance right here you know what none of this really apply to me I don't want to say I'm in finance I could say I'm in information I think this this one fits me more like I'm in media technically I wouldn't overthink the business category too much but I do get why it could be a little bit confusing just because if you you know if you're in e-commerce you're doing like you're selling online courses you're making you're not really sure what to put in this section but do your best you know I could also say I'm in Media or just uh other information.

Services and then from here I could do all other information services and just keep it broad now here this estimated monthly spend this is how much Chase wants to get an idea of what you're putting on your cards on average I think it's always good to put in the monthly spend relative to how much you're making a year by making a hundred thousand dollars per year I don't want to be spending 200 000 on my credit card it's gonna freak them out so normally you know if you're not spending too much on your business maybe your expense is only like five thousand dollars a month or how much you plan to spend on this card might even be less than that like a thousand dollars when it comes to percentage of ownership very simple you're 100 owner if you started your own business uh generally I don't want to add any employee cards you come down you've read all of this and you submit you're good to go that's how easy it is all right so how do you get instantly approved for a business credit card well.

If this isn't your first time applying I'd say there's less than like an 80 chance that you'll actually get instantly approved this is because based on my own experience after I got approved for my first one I got instantly approved for the other five business credit cards the first one that you need to get approved for takes a little bit more work the truth is it's pretty rare to get instantly approved for a business credit card and like I said they'll take into consideration things like your personal credit score if you have any history with that bank but most often than not when you do submit this application immediately you're gonna get a pending application notification generally the rule of thumb is if you get pending application means you're gonna get denied but that's not the case at all with business credit cards in a situation like this wait it out because more often than not you're either going to get a call or higher chances are you're actually going to get a letter in the mail stating the reason of why you might have gotten approved instantly or why you might have gotten denied if you got denied or if they need more information they're going to tell you exactly which documents you need to submit when it comes to business credit cards until you get an official confirmation coming from the bank that you did get denied do not ever call the reconsideration line because what could happen is you could be in a pool of pending categories and by calling the reconsideration line you could automatically remove yourself.

Getting automatically approved which may have happened now going into the whole pending thing and asking for additional documents they will often ask you for these three things one is a proof of ID to show who it is and whether or not you can verify it is you applying for this thing the second thing is the utility bill showing your name and the business that you own and sometimes they will ask you proof of your EIN certificate now these documents are actually really easy to get so number one if you want to submit any ID use your driver's license or your passport the second thing you can do is submit an EIN certificate and to get that you just go on irs.gov and whenever you you filled out the information they would have emailed you into your inbox a letter or certificate showing your name with that Ein to verify that you are the holder of that number now to verify that you own a business and you got to show them a business expense with your name and the company name you can sign up for any kind of online subscription so for just because they're very cheap they're recognized as a business service and then on top of that even just their most popular package 3.99 a month you save 73 off this is not sponsored by the way this is exactly what I would do if I needed to show the bank's proof because this also is something that I think most people would use you could build up your website you could get your own domain address which allows you to get your free email address.

How you would do it not only that but hostinger also gives you a 30 day money back guarantee so if you don't like it you could also just cancel it once you do get your business credit card but once you do submit payment on this you could go onto their website and get a receipt with your name and whatever business name that you are going for today verify and send it over to the banks as that proof that they would need in order to approve that business credit card application now two things will happen at this point it's going to take them a long time because Banks work at such a slow rate I don't know what they're doing over there half the time it reminds me of the movie zootopia you know like the snails at the DMV so you'll either get approved or you'll get denied about two weeks later if you get approved congratulations come back to one of my you know let me know that I helped you out because that puts a smile on my face anytime I read those comments I'm not forgetting about the people who may have to go through more rings and Hoops because I was there believe it or not my first business credit card I actually got a pending application and then all the information I sent to them for some reason they were like not accepting it because I had to fax it then I had to mail it and then I didn't send the right thing over because I had too many businesses with different names It ultimately took me one to two months to get approved and I remember I really wanted a business credit card.

I was going to buy for the business like laptops cameras and I wanted to get the welcome bonus for it collect the points it would have you know made me an extra five to ten thousand dollars when I found out that I didn't get approved right away and if it happens to you first thing to do is Don't Panic you'll also have access to something called the reconsideration line and from here you're going to be talking to a real human being and they're going to be asking you a lot of questions about your business but I'll give you the questions that they'll ask you so you can prepare in advance the questions here are you know what's the name of your business very simple stuff what products do you sell if you don't sell what do you do you know for me so I would say I'm in the service business I also had a marketing agency I would go out to clients who needed social media marketing I would do all the content I would post it up I would run Facebook ads I would sell out.

Whatever service or you know thing they were providing it was amazing time they're going to ask you how long you've been in business it should all match up to what you put on down the application they're gonna ask you your job title how many employees do you have and why you need a business credit card the last answer why you need a business credit card just be frank let them know hey I got a lot of business expenses coming up instead of going to a competitor like you know whatever Bank it is I'd rather use you guys because I heard the benefits are much better and I really do like the wall components you can be honest there's also a chance that they might ask you some more in-depth questions like what's your annual revenue you know what are your expenses was your Revenue last year if they ask you things like what was your Revenue last year and you started your business this year be honest hey I started my business this year so I don't have revenue from last year or you know my Revenue last year took a hit because of the pandemic so that's why you know my Revenue was only fifty thousand dollars but it could have been more they might also ask you if you're operating at a profit or loss most businesses I'd say are operating out of profit but just be honest and then if they ask you what your expected Revenue next year might look like give them a viable answer we think it'll be a hundred thousand dollars because last month we made ten thousand dollars and if we project that over the 12-month period.

Expected revenue is it's kind of like Shark Tank sharks are asking you stuff so if you answer all those questions well and you have a decent credit score which I would say is like above 680 to 690 you should be well on your way of getting approved for your first business credit card now the next question might be after watching this after this on the six must-have best business credit cards of 2023. I have that link Down Below in the comment section and if you're ready to apply for any one of these cards if you appreciate the value in this a few things that you can do check out the link Down Below in the description I'll send you an email to join our Facebook group in there I also have a full written guide on getting a business credit card so if you're more of like a visual person you got to see clear instructions and this wasn't enough I have that within our Facebook group and when you do apply like I said be sure to check out the links Down Below in the description they're at no cost you and if there is more of a competitive offer go ahead always take that one first but by using these links it definitely helps this channel out so thank you all so much again for watching this be sure to drop a like down below get your friends hip to business credit cards guys there are so many unique benefits and if you don't know half of them I actually made a 40 minute guide talking about all of the benefits of business credit cards.


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Easiest Business Credit Cards To Get Approved


There are a ton of misconceptions when it comes to business credit cards things like you need a big business with a physical location or that it's really hard to apply and even harder to get approved but the truth is any business owner can make use of business credit cards and the process doesn't have to be hard either so ladies and I'll be giving you my five years of experience to share with you the five easiest business credit cards to get approved for and which one is best depending on what kind of business you're running starting first with the Bank of America business Advantage unlimited cash rewards card by the way what a mouthful that is the Bank of America business Advantage unlimited cash rewards card now this card is a really good starting point for any entrepreneur looking for a new business credit card to get because it has a very low minimum score requirement overlooking the card's benefits it's pretty basic and for that reason it.

Started with the rewards on this card are that you get a 300 statement credit after spending 3000 dollars in the first 90 days of your account opening as a welcome bonus on top of that you can also get an unlimited 1.5 cashback for all purchases on this card and it gets a bit better though because just by having a business checking account with Bank of America you can increase that cash back amount by 75 adding up to as high as 2. cashback on every purchase you make now should you do this well well it depends so the extra cashback you get you'd still have to spend around fourteen hundred dollars to offset the cost of the monthly checking account now if you happen to leave your account funded with five thousand dollars you don't have to pay the fee so it really comes down to whether or not those options suit you but if it does then I'd strongly recommend this to be one of the best cashback cards to exist within the business credit card lineup on top of that this card also offers a zero percent introductory APR offer for the first nine statement periods that you have this card and even better you get all of that for no annual fee so if you're looking for a car for your business that has some very simple benefits that you don't need to worry about it seems like this one might be the best fit on top of that once you've had this card for a bit you can also upgrade to the customized cash Rewards. 

Card which is a bit harder to get and also requires a slightly higher credit score the whole point here though is the unlimited cash card is a good starting point to get in with Bank of America and earn cash back no matter how you're spending or what sector your business is in if you are looking to get a proof of this car card I highly highly recommend you have a score of at least 680 if you have anything within the 700 you should be almost guaranteed to get this card even if you have no relationship with this bank but like always there have been some people that still get away with a score of half that like 650 or even 600 still getting approved by the way if you have no idea on how to actually get started in applying for any type of business credit cards I've made a full walkthrough where I literally screen record go through the exact steps on what you need to do from the Ein to the tax little things and after you finish this the link for that will be down below in the description now for the next card that we have here on the list is the Capital One spark classic card now this card.

Does have a slightly worse cash back earning rate than the last card but it does shine in one category in particular and that's for hotels and rental cars booked with the Capital One travel portal where you'll be getting an unlimited five percent cash back one feature that Portal 2 is that if you happen to find a better price within 24 hours of booking they're going to match it and give you a credit for the difference speaking of travel if you're out of the country this card also has no foreign transaction fees and speaking of fees this card also has no annual fee meaning you'll be earning the benefits without any risk on top of that if you have employees you can get employee cards entirely for free as well and with those benefits this card is probably best suited for you if you tend to travel a lot more for your business even with that you'd have to travel quite a bit for the benefits to outweigh the previous card and with that being said this card still shines in the way that it's great for people with little to no personal credit history to get easily approved for their first a business credit card ideally to get approved for this card you might not need to score as high as 700 but like I said any score above 675 and you're going to be working towards your way of getting a better chance of approval by the way if you guys are interested in this card or any of the ones that I'm going to mention again in this be sure to check out the links Down Below in the description remember using those links costs nothing.

Content we make if you don't want to use those links it is all good too but I still appreciate you guys for even considering now for the next card we're going to be moving into something with a bit more specific and unique benefit and this here is going to be the chase Inc business Preferred Card so this here is a great option for a lot of different businesses it was actually one of the first business credit cards that I myself had also gotten so before to get approved you'd want to have a score of at least 700 or higher but I've also seen a ton of different data points on people who still got approved for this card even with a score under that it also seems like revenue from the business doesn't seem to be a big factor in getting approved but something like the chase 524 rule is still something you want to be very mindful about I know that chase has always been very strict about the 524 rule but you know even within this year of 2023 Chase has been a little extra wonky with that rule I've seen some people who are over 524 still getting approved but regardless the general rule of thumb is if you have opened more than five credit cards in the last 24 months you'll still get automatically denied for a new credit card with Chase the exception to this rule is the fact that business credit cards don't add to that 524 rule but they should still be affected by it so if you're at 424 and you apply for all three of the chase Inc business credit cards that doesn't mean you're going to be at 8 24 it'll still mean you're at 5 24. Now ladies and gents even though the Chase Ink cards are still one of what I'd consider to be the best ones to get they aren't that difficult to get approved for coming from first-hand experience and a lot of experience from our members within our Facebook group people are getting it a lot easier than what I believe the circumstances and the bar was just a few years back more specifically with the rewards they're all solid if we talk about the chasing.

Business preferred as an example for this card we'll be getting 3x Chase Ultimate reward points on the first 150 000 spent on shipping purchases advertising purchases on social media and search engines so this is going to be your Facebook ads your tick ads or Google ads and you're also going to be getting internet cable and phone service and you're also going to be getting a 3X back on travel so if you tend to buy a lot of ads for a marketing agency you have an e-commerce store and you're sending a lot of packages this is probably one of the best business credit cards that you can still get even if you're just traveling for client meetings and conferences because they've broadened so much the 3x category you'll find that it's very flexible and once you transfer it out for a higher rate within the Ultimate Rewards portal you'd be shocked at how much value you're still getting back from a card like this let's not forget that they also have a 100 000 Chase Ultimate Reward Points bonus offer after you spend fifteen thousand dollars in the first three months and a hundred thousand points if you evaluate that even at just one cent to one point which is on the bare minimum that's still a thousand dollars cash back that you get now the next card here on my list is going to be the American Express Blue business Plus card and this is because American Express is still pretty notorious for being what I'd consider relaxed on their approvals for business credit cards and they offer some very very generous credit limits but this card is also one of the best staple.

Beginner business credit cards because it offers simple benefits so 2x membership Reward Points back on the first fifty thousand dollars spent in the first year you then get One X back on everything else but you'll get zero percent intro APR for the first 12 months you get free employee cards and on top of that you have a welcome bonus to offer of 15 000 membership reward points after spending three thousand dollars in the first three months now that welcome bonus offer is nothing to brag home about it's about 150 bucks in cash that you're getting or 300 if you're able to find some good travel redemptions but still for no annual fee credit card like this I would say something is still better than nothing it's also worth noting that if travel points aren't really your thing there's an alternative version of this card that offers cash back instead of membership reward points that you could also consider getting now the minimum credit score to get approved for this card is 700 but there's some interesting data points I've found as well now overall from my experience American Express is still very generous in letting new applicants in so if you have no relationship with them if you don't have the gold the green or the Platinum Card I would say you still have some pretty strong chances of getting approved as long as you have a decent credit score now the next card that we have on our list is going to bring us back towards the Capital One lineup and same as with the last card a Capital One tends to be better for people.

Excellent credit but this card is still somewhat of an exception you'll ideally want a slightly higher score of at least 720 to get approved instantly for this card and you're going to want to be very clear on how much your business is making and exactly how to answer some of the most common questions if you hear them by the way these questions can range typically from what industry you're in how long your business has been around what your business structure is and what role you have within your business all right now ladies and gents with a card like this Capital One is going to state that you need to have an excellent credit score to get approved but a lot of data points on Reddit disagree most people are saying that they got approved pretty easily for this card and I think it's for good reason it doesn't offer you any real type of unique benefits in terms of ratios this is probably one of the worst returns that I've ever seen on any welcome bonus now this card is simply going to be for someone who has had no luck with any of the other business credit cards and if you're looking for the easiest one to get approved with I think you don't want to overlook this I should also mention that if cashback isn't what you're going for there's also the Capital One spark Miles Card the rewards are very similar on that but instead of two percent cash back you also get 2x bonus miles on every purchase with this card too instead of getting a thousand dollars in bonus cash you get 50 000 bonus miles.

After spending forty five hundred dollars which makes it a bit more attainable now this card here is good for most entrepreneurs as you have no restriction on what spending categories get you the highest earning rewards now it seems like both are equally easy to get instantly approved for as well but regardless these are both solid options for your first business credit cards to get started with now this year is the most exciting part within the credit card Journey because I'd say this is the beginning of most people's now I personally have a bunch of credit cards both personal and business credit cards I got a majority of my business credit cards four or five years ago and that are all maximized to hit all my spending categories all right so ladies and gents if you did.


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Build Wealth Fast Using this Secret Method


Leading up to the Great Recession about 15 years ago President Bush had this to say to the American people this word begins with keeping our economy growing and I encourage you all to go shopping more when you hear things like that it's no surprise that 70 percent of the US economy is currently made up of consumer spending that right there is over 14 trillion dollars a year so it's probably not surprising when I tell you that 58 of Americans are living paycheck to paycheck 70 feel stressed about their finances and even 63 percent of people currently have some type of credit card debt America might be built on capitalism but most people don't capitalize on the opportunities that are out there to build true wealth so in I'm going to share with you exactly how you can break out of those statistics and believe it or not it might not be as hard as you might think it is so first of all let's talk about the problem at hand okay so for starters I'm going to use the average American Income.

For a single person as the guideline in now that number is just over seventy thousand dollars every year which breaks down to be about five thousand nine hundred dollars a month let's paint the picture of how you're probably spending money now so I can show you the adjustments to make for starters right off the top here in Maryland you'll have about 27 taken for taxes now starting with your housing the average American right now spending about 34 on their rent or their mortgage so that means on this income you'd be paying about 1 475 dollars a month on that ladies and gents in some parts of the US this could be a problem but let me tell you my area in the DMV the current average rent price is around a two thousand one hundred dollars let me tell you that's more on the conservative side because I've paid way more than that too so if you're living alone this could also mean that you're spending a much more significant amount of your money just to have somewhere to live now that we have housing you'll also need a way way to get around so right now the average person is spending about 16 percent of their total income on their transportation again a ton of factors can impact this but that means right now there's about 50 percent of your money that's just it's gone now if we add all those things up we have 12 that goes towards food and around 22 that goes towards entertainment and if we just add those four categories up it'll be 84 and it means we're not even accounting for other things like travel subscription services online shopping and all the Tendencies where people tend to overspend in fact on average every person right now seems to be overspending by seven thousand four hundred dollars every single year and this is probably due to the fact that 65 of people don't even know how much they spent last month and as a result of that overspending the average American has around 5 900 in credit card debt even though that number fell quite a lot a few years back thanks to those stimulus.

Checks and Doughboy were those stimulus checks those were nice going back ladies and gents this is all very important stuff to be aware of because right now the US economy has been pretty unsteady if you don't believe me just look at current inflation rates look at the rising interest rates to try and account for those and then take a look at the bank collapses that we had and even now our recent debt ceiling crisis because of that over a hundred and seventy five thousand people have been laid off  Nationwide in the first four months of a year now while all of that does sound pretty bad there is an upside to recessions last year the average stock fell by about 20 percent with tech stocks averaging even higher of a loss at 30 percent Bitcoin is currently down at 66 from its current all-time high just about a year and a half ago and as the markets have become more unstable as the federal government continues to raise those interest rates you'll know that an opportunity has also opened in front of you to unlock the gates of that opportunity you first would need to take some proper steps this raises the question how can you actually build Financial stability to weather the storm of the recession so here's a solution first you need to find out how much you spend get all your bank records you got to know exactly where you're leaking money get your credit card statements and be aware of all the cash that you spend out of all this The Next Step you want to do is categorize all of it and find out exactly where your monthly spending is going now look anytime I do.

This I actually get surprised by some of the things I learn like subscription services that end up piling up because you know look a 14 a month subscription doesn't sound like a lot but over time it does end up being a lot except when it's of value like our patreon group which is a month and for that amount you're actually getting a pretty solid Roi link Down Below in the description below if you're struggling financially normally I wouldn't recommend people to be joining for these type of groups but this is exactly for people who are struggling financially so it can get you on the right path and start making Bing ignoring the value packed subscription Services if we talk about like the booty cheek ones the ones that really don't add up to be much and they're just subscription services that really just cost you more energy and cost you time like Netflix HBO look ladies and gents try to find ways where you can substitute things that take up your time that you don't either use or that don't just give you a positive return in this life I also want to mention look I'm not all against Netflix and HBO and all those things because I frankly myself I watch it too but I do it after I get all my work done and I've done it only after I've been able to accomplish some of the many goals that I set on top of that there's also a way where you can earn money by spending money we'll get to that in a second but first of all let's take a look at how your monthly spending pie chart should actually break down and we're going to be using the budgeting Infamous rule known as the 50 30 20 rule where you're going to be splitting up your spending based on 50 that goes towards essential needs 30 that goes towards once and then 20 that goes towards investing in savings let's first break down.

That first according to the number that we used earlier if you want to make sure everything's in check your housing should first be under thirty percent of your total spending which on average means you should be spending less than thirteen hundred dollars a month based on the average amount that people make in bigger cities like New York La I mean even Austin Texas I heard is getting a bit more expensive or even things like DC sometimes you might even have to consider getting roommates but if the alternative is not investing or Saving right now I'd say it's definitely a worthy sacrifice to make now transportation out of that should sit under 10 to 15 percent in the last 10 to 15 should include gym memberships Insurance basics of getting groceries and anything towards your loan repayments now some of these may not exactly line up and that's where you'll have to make a decision because maybe you might have more loan repayments or maybe you have a giant car payment and that's the case you might need to find a lower cost car or even reduce that 30 in the wants category to make it all balance out now the rest of this is pretty simple we have that 20 we talked about earlier which should always be maintained for investing in savings and now for that 30 percent this is going to include the rest of your grocery expenses dining out shopping entertainment subscriptions and holidays this here is the area where most people end up overspending so it's important that you're really clear on how much you can spend without going too far over so for our average income 50 or 2 165 dollars is going towards needs 30 or 1 298 is going towards wants and 20 of that or 865 dollars is going towards investing and saving one question you might have here is why are we not investing in Saving more you have a good point and you can adjust that number however you wish but this guideline is likely the best for your average American Joe cutting out too much from your wants and needs might even lead you to be unhappy which may be fine in the short term but in the long term this could lead you to making even more.

Irrational financial decisions that could totally erase the progress that you made and by the way to add to that your Investments do end up compounding over time as well as your income so in theory this is still a great starting point on top of that that as your income increases you can keep your expenses low to really add to that 20 so if your income happens to double but your expenses don't go up by much then you'll still be able to make a large amount of progress in investing the whole point I want to make is on top of budgeting and investing always continue looking for ways to increase your income folks whether this means it's you getting a new job since most people get a pay bump whenever they do change a job or starting a new side hustle these are all different ways to improve your financial situation now that we've covered your general blueprint I'm going to be sharing with you the next five tips on how to help you figure out how to best use that 20 and how also how you can use the remaining eighty percent to get even more positive return on value starting first with an emergence fund if you don't already have an emergency fund this should be your first priority you should be building up for the average person you want to have around three to six months of living expenses set aside in a savings account now depending on how broke you are you might be living life on the edge but I'd always recommend to have something where if you happen to lose your job if your side hustle or business goes bankrupt that you'll still be able to survive and you won't have to worry as much knowing that you got some of that mattress money aside now I do want to add that if you have any type of credit card debt any personal debt anything that is costing you 10 to 20 or even 30 percent you're going to want to have a smaller emergency fund because basically at this point your goal is to just cover any large.

Unexpected expenses but also for any people with debt you want to make sure that you're focusing on actually repaying that debt and not holding too much cash because interest is going to be eating up the savings that you have this rolls into the second largest and most important thing you need to do and that is for any kind of high interest debt you have to make sure that you focus on paying it off so this could be credit cards this could be lines of credit and we've even talked about on this YouTube channel some alternatives on what you could do you could get a no interest credit card move that balance over it in a balanced transfer way and that could instantly boost up your credit score it could save you on interest for 12 to 15 months and when you do want to pay it off you're not going to have to worry about pinning that extra payment towards the banks that you would pay in interest fees now guys I'm not totally against any type of loans but if it's high interest credit card debt please fix that we always educate people that watch to make sure that it is taken care of first and then on top of that if you have a car payment you have a mortgage things like that I think that's fine because you're still leveraging other people's money and if your interest rate is still reasonable I believe your money could be working for you and investing into yourself or investing into a business instead the third thing like I kind of just mentioned but you want to make sure that you fully utilizing credit cards now this year is my favorite tip because obviously I make a lot of content on credit cards I know the ins and outs of it and like I just mentioned make sure you fully utilize zero percent intro aprs fully utilized balance transfer cards because this is going to save you.

From paying 20 to 25 on your interest on some of those cards and the ones that I would recommend off the top of my head the city custom the city double cash the Capital One saver one card that's a really good one the Chase Freedom flex and even American Express has a ton of great credit cards and believe it or not they also give you a big all credit limit increase too if you request for one most the time if you guys want to learn more about balance transfers or what some of the best credit cards are for anyone who does have credit card debt be sure to Down Below in the description for that going to the fourth solution that you need to know about and this is avoiding lifestyle inflation now I'll be the first one to say but I have definitely struggled my way through this and I have come out on the other side because you know guys if you remember the bull market I mean those are some crazy times when you're making crazy money from crypto from stocks from nfts it just feels like money was infinite I remember even during that time like I was just I hired someone at fold my laundry and like I was thinking about hiring a private Chef because at that point I was always so busy that every single minute of my day mattered and if I wasn't working because it was so easy to make money back then just studying the markets making content I figured that was the way to go but look looking back at it hindsight I wish I calmed down a bit more I wish that lifestyle inflation didn't creep up on me as much as it did but at the same time I follow a principle where if one day at the end.

I don't want to be passing away with all this money that I never got to spend so I think it's a balance okay for the amount of money that you spend you don't want to save so much of it that you have so much left over but you also don't want to spend all your money so that you're broke sure if you get a raise from your job you can increase your lifestyle a bit or you know if your business is taken off you can go celebrate you can you know get a car if you want I don't think it's a bad thing to enjoy some of the luxuries in life just don't worship it and and don't you know idolize it all the time but I believe in the practice of just trying to keep your expenses low especially while you're young or as your income grows it'll be important to at least be able to invest that into something like an Investment Portfolio last but not least and this is hands down one of the most important ones and this is to make sure that you don't put all your eggs in one basket by diversifying properly as you guys know you can diversify in many ways you can diversify through the different cryptos you hold Diversified in different markets but make sure that no matter where you put your money that you're not putting it all in one basket where it's high risk where you could lose the whole entire thing a few great ways to combat this is to look into index funds this actually spreads out your investment and instead of just looking into things like the stock market look into other equities look into precious metals I mean there are a ton of ways for you to diversify and one of the best ways to make sure that you survive any type of Market volatility.

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How To Complete the Credit Card Tier List FAST in 2024


We're going to be breaking down the quickest most effective strategies to Skyrocket through the credit card tier list in 2024. now I know when I first got into the whole world of credit cards it felt as it feels like a tricky maze what I realized was that there are countless options each offering different perks different benefits and on top of that there's a whole bunch of these rules within the credit card game that you don't want to break that's why here I'm gonna be guiding you through that Labyrinth helping you understand how to strategically apply for credit cards and climb that tier list at record speed I'll also be showing you the tricks and tips and Insider knowledge that I've used myself to get over 15 credit cards in the past few years now there have been a lot of changes made into the credit card game since I first got started a few years back but this is going to be so you don't have to worry about anything being outdated so let's kick things off by first understanding.

The credit card tier list and why the sequence of your applications is actually so important so simply put it's just a system that ranks credit cards based on their benefits and perks and typically the higher the tier the better the rewards but also the higher the annual fees and higher requirements in order to get approved now this year sounds simple but there is a bit more to it because it turns out that a premium to your credit card could actually be way easier to get than even some of those beginner credit cards the secret behind this whole entire credit card game is just knowing the sequence and timing of your applications and seeing what best fits your own spending habits if you happen to be a homebody you don't like leaving the house and you hate travel you hate taking airplanes then a lot of these premium Tier credit cards may not make sense to you but if you're someone who loves travel you're on the road every single time you're going to different countries then you might find that some of these beginner credit cards have no value to you at all but then these mid-tier and premium cards give you extraordinary amounts of Roi now regardless of what kind of persona you might fit in this here is your general sequence on still getting a ton of point so even if you don't travel or even if you do a lot of travel you're going to be able to reap at least the points from those welcome bonuses that you can earn and you can also have different downgrade paths and options of canceling that card in case you need to ladies and gents I've pretty much thought of it all.

This is going to be your one sequence formula in order to maximize everything you can for the general population of so why does the sequence matter so much with these credit cards well here's the deal it turns out if you apply for several cards within a short period of time back to back to back this might harm your credit score and decrease your chances of being approved which can also lead to you spending more time and trying to get approved for some of these cards on top of that there's also a bunch of these funky little rules with credit cards as an example you have the infamous Chase 524 rule where Chase will instantly deny you no matter how good your credit score is if you've applied for more than five cards within 24 months on top of that you have the AmEx Five Card rule where American Express will limit you to five personal and business credit cards at a single time now by the way that rule only affects Amex credit cards and not their charge cards so even within the whole credit card world there's a difference between the two and things like the AmEx Gold Card the AmEx platinum card or even the American Express Green Card those would be an exception to the MX-5 card rule that we just mentioned now it doesn't just end there because there is the AmEx one in five roll and even the AmEx 2 and 90 rule I'm not going to go into the details of those rules but I did want to mention it to give you guys proof that there are all these little knickknacks that you need to work through and with.

Worth watching even if you don't have the best credit score in the world because you'll still know what to do once you fix your credit and by the way having a bad credit score is not something permanent you don't just get a bad credit score and then you deal with that for the rest of your entire life it's actually pretty simple on how you can improve out if you're struggling with your credit score now on to the strategy so a smart move in 2023 is going to be to start with credit card to have more lenient requirements and build up from there the more credit card approvals you have under your belt the more likely you are to get some of their higher tier Flagship cards within that same bank or company on top of that if you use these credit cards responsibly you'll be able to build a positive credit score a positive credit history and it'll also make it easier to get approved for those High tier cards down the road all right so to kick this off I actually wanted to show you the exact sequence that I myself did a few years ago in order to have over 15 credit cards now I first started with this card here that I because they said that we're not allowed to talk about them but later on the road I held that card for about a few months and I got the Uber Visa Barclays card now this card here does not exist anymore and the version of it that does is completely.

Nerfed and it's just a waste of time so don't even consider it now the reason why I had these two cards first before I got into the chase product was because it was a lot harder to get initially approved for Chase if you had no credit history back then the Chase Freedom Flex also did not exist all you had was the Chase Freedom unlimited and the Chase Freedom Card what I would do now is actually start by applying for the Chase Freedom Flex card as your first beginner starter card the reason you want to do this is because of the 524 rule that we mentioned earlier where if you get all your Chase cards down the road you would then have to wait some time before getting approved now this sequence that you see here took me two to three years in order to actually complete and I know there are a lot of people who do not want to wait that long so if you want to save on time you can go straight into the Chase Freedom lineup and between the Chase Freedom unlimited I would just go with the Chase Freedom Flex I think it's a much better card if you're new to the credit card game and you don't want to worry about rotating categories for whatever reason and you want to just go for the chase stream unlimited that's still not a bad choice either if it turns out you're unable to get approved for the Chase Freedom unlimited or the freedom Flex card you can then go ahead apply for a free checking account with Chase which allows you to build up a certain type of history with them where it'll actually increase your chances of getting approved for one of their starter cards right now the data points are actually showing that as long as you have a decent credit score you should still get automatically approved for one of their beginner credit cards an above average credit score I'd say even if you had a 680 credit score you should still get approved for one of those cards and anything above that even across that 700 to 730 range you'll definitely have a good chance of getting approved now once you get this card you're going to be eligible to get their welcome bonus offer and what I like to do is wait just a minimum of one to two months before applying for the next card now I know a lot of people like to say oh wait no you don't want to wait one to two months you got to wait six months minimum but I like to disagree with that I think it's completely unnecessary and waiting six months is way too long because if you want to get all these cards eventually it's like getting two credit cards every single year doing the math it's gonna.

Take you like five to ten years to get and finish this whole sequence don't worry about that I think one to two months is more on the faster side What I've Done especially within like this mid-tier sequence was I was applying for credit cards every one to two months three months is very very safe too and I've never been denied for applying for too many cards within a short period of time now after you apply for one of the Chase Freedom products I've noticed that a lot of people tend to make the mistake of just applying for even more starter cards that have no or low Annual fees what I like to do quickly after that is actually just apply for a mid-tier credit card that has an annual fee and this is going to be the Chase app I preferred regardless of whatever your travel habits may be the Chase Sapphire preferred is a great all-around card especially for someone who can hold it for at least one year and get that welcome bonus so with this card here you're gonna be able to get sixty thousand Chase Ultimate reward points.

After you spend four thousand dollars in purchases in the first three months and off a one point to one cent Redemption that's six hundred dollars in cash and let me tell you with Chase it's actually really easy to get two to three cent redemptions by holding this card so that's anywhere from twelve hundred to even eighteen hundred dollars cash back that you can apply to travel now this is the sequence that I followed and it worked out great the big thing here is that you're now going to be paying ninety five dollars a year to hold this card I still don't think that is a huge annual fee for the amount of return and benefits that you get for this card but either way if you ever wanted to downgrade this card to a no annual fee version which is something I did much later down the road this year is actually the Chase Sapphire card it's the secret card that you can apply for but you can actually go ahead and downgrade the sapphire preferred with an annual fee to the sapphire with no annual fee after holding this card I actually went into the world of business credit cards and this transition actually happened pretty quick the reason I went into business credit card is because these credit cards don't add to that chase 524 rule so at a certain point if I had gotten all three business credit cards but they didn't have that special little rule where it didn't affect the 524 rule I would then have to wait about two years in order to then start applying for new cards at this point I had about four cards I still went ahead and applied for this if you went straight into the freedom Flex card and then the sapphire preferred and then build out the other lineup of Chase Ink cards you'll then have mass accumulated a ton of points and on top of that you are still just at 224 with the chase 524 Rule now business credit cards are great because you're going to be finding much higher welcome bonus offers but keep in mind the minimum spend requirement in order to hit those offers is usually pretty high as well so unless you have a business or you have upcoming expenses.

Maybe you're renovating your home maybe you're trying to start a new car washing business whatever it is or maybe you don't have a business at all I've actually made a ton over on how you can apply for a business credit card and get approved even if you don't have a business now I would say the business credit cards are still a bit more optional it's not going to apply to every single person and if you're content just with personal credit cards you could skip this route but I would still highly highly recommend going through it eventually what I did was downgrade my staff I preferred to the regular Sapphire this is because there is a rule called The Chase Sapphire 48 month bonus rule where I made sure I got the initial bonus with the Chase Staff I preferred I then downgraded the card kept the bonus and then I would have to wait 48 months which is actually a very long time it's about four years before I can receive another bonus and that's where I would get the Chase Sapphire Reserve next I also planned it accordingly where I knew it was during that time I wouldn't be traveling much but I knew four years down the road I would be making a bit more money than I was back then and I could actually utilize the full benefits of the Chase Sapphire Reserve card if you do find positive value with the sapphire preferred I would just keep it 95 a year doesn't really add up to be much and as long as you're still traveling even just once or twice a year I believe it's still able to give you pause positive Roi just understand your own miles may vary so at least do the math for yourself so after I was able to get all through the Chase Ink cards I then got the Chase Freedom card this year is now going to be the Chase Freedom Flex version I don't think you need to crisscross back and forth but if you are able to get it you're then pretty much completing the chase Trifecta at this point earlier on and the next card that I would then consider getting is the American Express gold card now the American Express old card is a great all-around card for pretty much everyone.

You don't have to travel to justify the price you get a solid welcome bonus offer and plus you earn points on pretty much any time you eat out or you spend money at the grocery store now I still have the AmEx gold card in my wallet I think this is a keeper for almost everyone as long as you're eating out just the bare minimum of what the annual fee provides but even aside from that you get so many credits with the ubereats and even like Shake Shack GrubHub whatever it is it essentially brings down the annual fee to less than 50 a year to hold and if you're spending on this card you're breaking even easily I know that there's opportunity cost especially when it comes to using an annual fee card versus some of the no annual fee cards but that's going to go outside the scope of this after you get the AmEx gold card you pretty much open the door for you to get any one of American Express's Flagship products which includes some of the Platinum cards as well at this point it's a matter of personal preference on what you want to do and I see it similar to how if you ever play Pokemon you can choose between Squirtle Charizard or Bulbasaur this is because instead of getting the Chaser and flex card if I decide to go with Capital One the Quicksilver card or even one of American Express's earlier beginner tier cards it would then make sense for me to apply for another one of their higher tier premium cards which could be the platinum card or the Capital One Venture X Card regardless the most important thing is freedom.

Flex card Sapphire preferred get the AmEx gold and then from there you could pivot into other different cards that fit your own spending criteria if you don't want to jump into the annual fee cards too quick you can then go ahead and get something like the build card which I think is a fantastic card currently which was not available three to four years back now by the way if you're someone who pays rent this card is an absolute no-brainer um I own a home now I don't even pay rent anymore I used to pay rent for the last three to four years but even without me paying rent currently this card is still great and it's a keeper card that I have within my wallet at this point there are a ton of different cards that you can get I even added the Amazon Visa card I have the Amazon business this Prime card and I get five percent on my Amazon purchases so I maximize my category there if you decide okay you want to travel a lot more you want to get right into the Platinum cards you're more than ready enough to get into it and at that point I got the

Platinum card and then I even got the business platinum card I was going a little crazy and I still hold both of those cards to this day now one of my favorite cards that I added to this list because pretty much after you get the gold card and you get the ink cards this is optional but even some of the hotel branded cards can be great if you know you're staying at a hotel within their brand every single year now with my Marriott bomboy card which also gives me Marriott bomboy Gold status and my world of high card which also gives me explorist status with these two cards here if I'm paying say as an example a 95 annual fee which I do and I get a hotel room for two to three hundred dollars that right there gives me positive value on a trip that I would have already booked now I know there's a lot of cards and within the setup you can definitely mix and match there are some great great offerings we even say your general rule of thumb is to at least start with four core cards if they're all annual fee cards it's still fine but eventually get into the mid-tier cards like the Chase Sapphire preferred and then get into the MX gold card and then from there you can decide which one you want what's great about the entire credit card system is that you don't need to follow a specific system to the T if you like a certain card more than the other just go for that one because this here is a long-term game that could last you anywhere from five to even 10 years or more there are new credit cards coming out there are upgrades being made and every single time that happens you can just apply for a new card get the welcome bonus offer keep those points downgrade cancel the card if you need to but you're still racking up and accumulating more points to come out ahead now the biggest lesson here is patience within this journey while we all want to climb at the credit card.

Tier list quickly we also want to do it as wise as possible understand that a lot of the times each card is going to be a step up the ladder and each step strengthens your credit card and gets you closer to those top tier cards where eventually if y'all end up balling out you could get the JP Morgan Reserve card or even the AmEx Centurion card the biggest tip I'm Gonna Leave You guys with is just take it step by step play your cards wisely and soon in applying for any one of these cards that I mentioned I have full reviews here and I also have links Down Below in the description where you can learn more about some of these cards and what welcome bonus offers they have now on top of that if you guys want to have access to our private Facebook group and currently right now we're actually building out a new too just so you all.

Have a bit more of an exclusive Community to help each other out check the link Down Below in the description for that we're also building a new business where if you are interested in applying for a new card and you're not sure if you're getting the best or highest welcome bonus offer or if you know how much you're trying to spend and how much you travel in a certain year and you know your credit score we can also go ahead and match make you with what I believe is the best card for that this year is an exciting little business venture I'm trying to pursue.

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