How To Get Out Of Debt Fast
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- The document outlines a strategy for getting out of debt fast by paying off debts aggressively in 5-7 years using only existing income. It begins by having the reader make a list of their debt burdens and the benefits of being debt-free. Next, the reader lists all their current debts by type and balance totaling over $260,000 for a sample household. The strategy recommends focusing repayment on the highest interest debts first while continuing regular payments on others to become debt-free in under a decade using compound interest working in their favor.
How To Get Out Of Debt Fast
- 1. -1- “How To Get Out Of Debt Fast” Authored By: Mark Huber Certified Financial Planner, Investments & Insurance Broker (now retired)
- 2. -2- Preface This eBook is about to expose the way most individuals have for generations dealt with their debt why YOU should immediately change the way you are doing it. Keep an open mind as you read along. I am writing this for you because I want to help you OWN your life instead of wasting all your energy and money RENTING a lifestyle. There’s a huge difference! The wealthy know what it is. Now, I want you to know. If you are like most individuals, you have probably painted yourself into a financial corner with a 25 year mortgage, student loans, car loans & multiple credit cards. You are likely living from pay check to pay check and simply “renting” many of the clothes you wear and “toys” you just “have to have.” And what’s even more discouraging is that you will NEVER get out of this quagmire in time to enjoy life if you ever get out at all. (What I mean by renting is not having paid for your purchases outright but having “purchased” these items on credit). I understand why and how you got yourself in this situation. I was once there myself! I was miserable. I know how stressful life can be when you’re deep in debt. I’m sorry that you’re going through this right now and I want so desperately to help you get out of this awful situation. Please read along as I show you the way to a debt free life, peace of mind, and likely even abundant wealth! Important Note: At this point I want to clarify what I mean by debt. The debt I am talking about here is “bad” debt – the ‘non tax deductible’ type of debt. There is another kind of debt which is “good” debt – this is ‘tax deductible’ debt. This occurs when you borrow for investment purposes. The purchase of rental property, a business an investment portfolio, individual securities such as stocks and bonds…
- 3. -3- You are likely reading this for a reason. I don’t believe in chance anymore. So welcome dear reader! I congratulate you for being here because I believe that the information you’re about to gain here will be life changing for you and your family! 1. The Tragedy of Debt 95% of individuals live in debt! And did you know that less than 5% of us living here in North American actually retire financially independent? There is a reason we admire those who are able to live a life free of debt – they have options and can take advantage of life’s opportunities to a far greater degree that those who are chained to a vicious credit payment cycle. They are a rare breed. And I am sure that you wish with all your heart that you too could join this elite club. So, I want to show you a simple, ‘step-by-step’ process for eliminating your debt – starting today! Ready? Step One: Take out a piece of paper and list all the feelings that debt give you: Typical items listed here are things like "un-needed stress" and "financial insecurity" or "I have to stay at a job that I hate" or "my wife has to work instead of being home with the kids." Whatever your ‘debt burdens”, take a moment and list them all. My Debt Burdens! • Living check to check • 30 more years of this! • Un-needed stress in my life • Anxiety • Loss of my freedom
- 4. -4- • Higher chance of divorce • Public embarrassment • Lack of self-confidence • Little or no savings • No emergency supply built up • No investment portfolio • No retirement security Facing The Reality Of Your Debt If you are currently in debt you must be honest with yourself. Step One was probably a bit of a reality check. Don’t worry, there is a light at the end of this tunnel. In fact, it’s almost impossible for you to progress through the next steps if you haven’t faced the cold hard facts of what debt has really cost you. What If You Could Start Over? How would you like to own everything in your life? Your home, your cars, your furniture...everything? How would you like to have no debt payments, no mortgage or rent payments, no car loan or lease payments, no credit card payments, no debt payments of any kind? And how would you like to be rapidly building your wealth from the first month? Sound like a dream? Well it's a dream that could become true for you right now! Ready?! 2. The Reality Of Becoming Debt Free! A ‘typical’ $60,000 annual income household with $151,639 in total debt, including their mortgage, could be completely debt free, owning their home, two cars, and everything else in their lives in just
- 5. -5- 5 years 9 months! Now, while this may look like a very ‘untypical’ family situation as compared to yours just bear with me here. The concepts & strategies you’re about to discover will definitely work for you too – no matter what your situation or personal financial & debt numbers are! Step Two: Take out another piece of paper and list all the benefits of being completely debt free: Typical items listed here are things like "un-needed stress" and "financial insecurity" or "I have to stay at a job that I hate" or "my wife has to work instead of being home with the kids." Take a moment and list all the benefits of being out of debt. The Benefits of Being Debt Free to Me! • Peace of mind • More free time • Better marital relationship • Better health and lifestyle • Less dependent on specific career • Strengthened self confidence • Own my own home and everything in it • Emergency supply last longer • Extra money goes towards savings • More money for investment • More time with the kids • Retirement security Write down your goals in life!
- 6. -6- How Is This Possible? Debt Free in 5 to 7 years? How is this possible? Here’s an example: $2,000 credit card balance; $50 min. payment; 18% interest rate. Simply by applying an additional $50 a month to this debt pays it off in 24 months and you would save $1,985 in interest! You would need to get a 49.5% equivalent rate of return on an investment in order to generate the same $1,985 in 24 months with just a $50 a month investment.
- 7. -7- If you applied $100 additional to the same debt, it would be paid off in 15 months and you would save $2,268 in interest charges. This is a 67.9% equivalent rate of return! You Can Probably Be Debt – Free In 5 - 7 Years! That’s right! Using nothing more than the money you already bring home. And you'll actually begin building significant, net-worth- measured wealth from the first month you put these time tested and proven methods to work for yourself. And you are not alone! The remarkable fact is that consumers all around the globe are in similar positions as you! We’ve all been sold the lie that living a debt- fueled lifestyle is the best way to "enjoy success." But what we’ve all come to realize, at one point or another in our journey, is that we’re all being used to make our lenders rich...instead of ourselves. Right?! “But You Don’t Know My Income…Or My Debts.” The fact is that it doesn't make much difference what your income level and debt level are, because the two numbers are proportionate -- - meaning that, if you have a large income, you'll be granted enough credit to build up a large debt load. Conversely, if you have a smaller income, you'll only be granted a proportionately smaller total debt load. The good news is that this ratio of your debts to your income means that you will be able to transform your debts into wealth with your income in around 5 to 7 years. 3. “Exactly What Are My Debts?” The average North American household is in debt over 2 and 1/2 times their annual income! A typical $100,000 annual income household with $262,060 in total debt, including their mortgage, could be completely debt-free, owning their home, two cars, and everything else in their lives in just 6 years and 5 months!
- 8. -8- Step Three: Take out another piece of paper and list all your debts: Typical items listed here are things like "mortgage" and "car loans" or "credit cards" and "dept. store credit." Take a moment and list all the things you have acquired by the use of credit. Use the following chart as your guide. What Are My Debts? Debt Name Balance Mortgage $162,000 Car #1 $11,000 Car #2 $3,000 Credit Card (Visa) $5,600 Credit Card (Am Ex) $7,900 School Loan $22,000 Department Store Credit $2,300 Personal Loan $1,060 2nd Mortgage $29,000 Time Share $7,200 Boat $11,000 Total $262,060 Important Note: I am including a mortgage in this chart because 9 out of 10 Canadians think that the best way to be debt free is to use an accelerated mortgage pay down method which simply means paying extra on their mortgage. However, in my experience, it is BECAUSE of this strategy that those same Canadians have mountains of credit card debt and are using lines of credit to fund their lifestyle because they have given their extra monies to the bank and have no cash resources left for the purchases they want or need. Just as a reminder, the debt I am talking about here is “bad” debt – the ‘non tax deductible’ type of debt. There is another kind of debt which is “good” debt – this is ‘tax deductible’ debt. OK…on with the show…
- 9. -9- Try It For Yourself! Compare your information to see just how fast you can be out of debt! Do you even know how long it would take for you to get out from under your debt? Or do you feel so overwhelmed that you continue on as always – hoping that a lottery will come your way and put you on “easy street”. Or just like the commercial – a kind and gentle wind will blow away your charge card balances. Did you know that the average family can pay off debts that are 2 1/2 times their annual income in 5-7 years?! Using only the income that they currently make? How Does It Work? Albert Einstein said the most powerful invention he ever saw was “compound interest.” Those that understand it, earn it. Those that don’t, pay it. Why Are You Doing This? This strategy has immense value! However, what I really want is for all those people who are suffering because of their choices of getting into debt to finally take control of their lives and enjoy all the enjoyment that come with living a debt free and prosperous life. Do you think that paying off your highest interest rate debt first is the fastest way to get out of debt? If you answered ‘Yes”, you’re wrong! But don’t worry, it’s not your fault. Pick up any magazine that teases you with “get out of debt fast” on the cover and this is the first “secret” they give you. If that worked, would 96% of North Americans end up as financial
- 10. -10- failures? Probably not. Your highest interest debt is probably a credit card. Right?! So, if you make minimum monthly payments on a high interest credit card, even with as little as a $2000 balance, it could take you over 30 years to pay off! Can you really afford that?! I say NO! Time to stop the insanity! If you have very little extra money every month and you try to pay off that card with a couple extra bucks here and there, you will get discouraged very quickly at how little progress you are making. Stay with me here because shortly you will find a realistic and workable plan to get completely out of debt, including your mortgage, in less than 10 years. No strings attached! The only element required for success is that you can pay all your debts and bills on time now. For the purposes of this eBook, we define “bills” as those items which will never go away, including utilities, internet access, newspaper subscriptions, etc. “Debts” are those items which can be paid off some day, never to be heard from again, like your student loans, credit cards, auto loans and mortgages. How To Get Out Of Debt Fast! The first thing you need to do is get together all the most recent monthly statements from your creditors. Remember, these are debts only. Your phone bills, cable TV bill, heating bills, tax bills or insurance bills DO NOT get included. Although these monthly bills may be causing a problem for you, they will always be around. You will never pay them off. You might be able
- 11. -11- to LOWER them, but in one form or another, you will always have them. Now, arrange your debts as shown on the chart below. Some things to keep in mind… The TOTAL BALANCE is the amount you would have to pay off if you were going to pay it off TODAY. In the MONTHLY PAYMENT column you want to put the MINIMUM your creditor wants, and ONLY the minimum. If you WERE putting extra toward that debt, you will stop for now. You’ll understand why in just a moment. If you have a mortgage payment, you want to put only your principal and interest number. You’ll always have taxes and insurance, so while it may be included in your monthly payment automatically, it should not be included on this chart. You can get this number from your mortgage statement or by calling your mortgage lender. Please note: If you routinely pay more than the minimum, some credit cards will make your minimum payment zero in the hopes that you won’t pay anything and thus be charged more interest. If your statement is showing a zero minimum payment and you don’t know what your “normal” minimum payment is, call the credit card company and ask them. It’s usually about 3% of the current outstanding balance. Therefore, a $2000 balance would mean a $60 payment. In the RANKING column you will put a “1” next to the smallest BALANCE. Then a “2” next to the second smallest balance and so on, until all your debts are ranked. Following is what a sample chart should look like…
- 12. -12- Your Get Out of Debt Plan Name of Debt Total Balance Minimum Payment Ranking Mortgage $90,000 $599 6 Visa $854 $25 1 MasterCard $1200 $35 2 Car 1 $8900 $278 5 Car 2 $7300 $379 4 Student Loan $2000 $35 3 TOTALS $110,254 $1351 The number one reason people get into financial trouble is because of instant gratification! They want what they want NOW! By focusing on the smallest balance first we will be getting the fastest start and hopefully keeping you interested & focused on getting debt free fast! Don’t worry about interest rates. Most people worry about paying off the high interest rates first and because of this most people end up broke. Focus on your smallest debt first. More on this in a moment. All right, at this point let’s talk about something we’ll call our HEADSTART. This is going to be an amount of money we have every month EXTRA to add to our debt elimination program. Don’t worry. We’ll cover many areas where you can find your HEADSTART shortly. However, if at this moment you were trying to pay a little bit extra on more than one of your debts, you should STOP that. This amount of money becomes your HEADSTART. Don’t worry at this point if you don’t THINK you have a HEADSTART. You will be very pleasantly shocked when you sit down and figure things out. OK. We have our debts ranked. We have our HEADSTART (hopefully). We will concentrate on paying EXTRA (the HEADSTART) on only one
- 13. -13- debt at a time. In this case, whichever debt we have ranked #1 because it has the smallest balance. Now, while we do this, we continue to make MINIMUM monthly payments on our other debts. When we have paid off the debt ranked “1” we now take that monthly payment, plus the HEADSTART, and add all of it to the payment of debt ranked “2”. When we have paid off debt ranked “2” we now take that monthly payment, plus the HEADSTART and payment from debt “1”, and add all of it to the payment of debt ranked “3”. In essence, we have started a snowball rolling down a hill. As we pay off one debt we roll all the money we were paying on that one into the next debt. So now, this is what the chart would look like. Your Get Out of Debt Plan-Fictional Family Name of Debt (A) Total Balance (B) Minimum Payment (C) Ranking (D) Headstart (E) “New” Payment (C + E) Visa $854 $25 1 $200 $225 MasterCard $1200 $35 2 $225 $260 Student Loan $2000 $35 3 $260 $295 Car 2 $7300 $379 4 $295 $674 Car 1 $8900 $278 5 $674 $952 Mortgage $90,000 $599 6 $952 $1551 TOTAL MONTHLY PAYMENT $1551 You’ll notice that the HEADSTART number is equal to the “NEW” PAYMENT number in the previous row. That is because, once you have paid off a debt, you can use that entire amount as your HEADSTART on the next debt. The “NEW” PAYMENT is simply the MINIMUM PAYMENT + HEADSTART. So how long will it take this “fictional” person to get out of debt? Their TOTAL DEBT = $110,254.
- 14. -14- Their TOTAL MINIMUM PAYMENTS = $1351. They have a HEADSTART = $200. So their TOTAL MONTHLY PAYMENTS = $1551 The next step is to divide TOTAL MONTHLY PAYMENTS + HEADSTART by TOTAL DEBT. So, $1551 divided by $110,254 = .014, multiplied by 100 = 1.4 By looking at this chart we see that it will take them 9 years to get out of debt… 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 8.8 4.6 3.2 2.5 2.1 1.8 1.6 1.5 1.4 1.3 In A Perfect World! Unfortunately we don’t live in a perfect world. In all likelihood during your own debt elimination program one or two things are going to “pop up” which require you to alter your plan in one way or another. Stuff happens – it’s called LIFE! You pay off Car 2 and Car 1 dies. The kids need braces. The washing machine goes on the fritz. You can come up with dozens of things that COULD go wrong. Don’t panic. First, consult your chart. Do you have a nice-sized HEADSTART built up? Look back at the “Fictional Family” chart and pretend these are your numbers. If you faced a challenge while working on Car 2, you could stop paying $674 on that car and only pay the minimum REQUIRED of $379. You could then use that $295 HEADSTART. Maybe it takes a month or
- 15. -15- two of HEADSTART to solve the challenge. If that doesn’t work and you do have to go into debt, OK. Simply do it and then redo your chart. So what if it takes you 2, 3, 5, 7 years or longer? You’ll still be a decade or more ahead of where you NORMALLY would be and decades and decades ahead of where everybody else is going to end up doing things the old fashioned way. The difference with this strategy is they are going to STAY where they are and you are NOT! And who says everything that “pops up” over your debt elimination program has to be BAD? Could you get a raise? How about a new, better paying job? Maybe a spouse returns to work after the kids start school? If you do make more money take that ENTIRE raise and use it as your HEADSTART. You were living without it before. Continue to live without it and put it toward debt reduction. You get the idea, Right?! Keep focused on one goal…GETTING DEBT FREE!
- 16. -16- How Long Will It Take Me To Get Out Of Debt? Step 1 Figure the total of all your minimum monthly DEBT payments (A) Step 2 Figure your HEADSTART if any (B) Step 3 Add (A) + (B) (C) Step 4 Figure the TOTAL of all your debts (D) Step 5 Divide (C) by (D) (E) Step 6 Multiply (E) by 100 (F) Step 7 Find the number closest to (F) on the chart below. Example: If (C) = $1549 and (D) = $75,000 $1549 divided by 75,000 Multiply .020 by 100 = 2>>>>>>>>>>>Look for this number BELOW 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 8.8 4.6 3.2 2.5 2.1 1.8 1.6 1.5 1.4 1.3 We see that 2 comes between 2.1 and 1.8, so it will take us between five and six years to get out of debt using this method. Pretty good, huh?
- 17. -17- Your Get Out of Debt Plan Total Minimum Payment (A) Headstart (B) (A + B) ( C) Total All Debts (D) (C )/ (D) (E) (E) X 100 (F) What Else Could Go Wrong? If you don’t have any HEADSTART and you are simply paying the minimums on all your debts, you might actually pay off a debt other than the debt ranked #1 on your chart FIRST. If this is the case, the payment from the debt just paid off becomes your HEADSTART and should be added to the payment of the debt ranked #1. Why would this happen? As we know credit cards generally have high interest rates. In our example the Visa card has a relatively low balance but even so, it could still take you over 10 years just to pay off that much making minimum monthly payments. Most car loans are 3-5 years in term so you might pay off an $8000 car loan before an $800 credit card loan. Simply make all extra money “float” to the top of your chart and go toward whatever debt #1 is at that time.
- 18. -18- Why Don’t We Factor In Interest Rates? It seems everything you read or hear about paying off debt emphasizes paying off the high interest rates first. EVERYTHING! Yet, 96% of North Americans still end up broke at retirement! I’ll be the first to admit that if you applied this formula to your debts and focused on paying off the high interest rates first you might get out of debt in the same time frame and you might save more in interest. However, I ask you, what causes people to go into debt in the first place? It’s not MATH…it’s psychology or human nature. My motto is: “human nature got you into debt so use human nature to get you out!” When we start out to do anything new…be it weight loss or a new job or getting out of debt we like to see progress. It’s no fun to spend your first week on a diet only to get on the scale and see you’ve gained weight! How long will you stick with that diet?
- 19. -19- By focusing on our smallest debt first we’ll start seeing progress much faster than by focusing on the largest interest rate debt. Realize the secret to this is getting rid of debts as quickly as possible in order to get our “snowball” rolling down the hill. That means we want to add money to our HEADSTART as fast as possible. We do this by paying off a debt and then taking that payment and rolling it into the next debt on our list. The debts we can get rid of first aren’t always the highest interest rates. The point is that we will be paying debts off so quickly, interest rates become much less of a factor. BEWARE!! Now this is really important! This strategy means that you to make minimum monthly payments on ALL your debts EXCEPT the smallest one. Unfortunately, some credit card companies do not like extended periods of receiving minimum payments. To some, that signals you are
- 20. -20- a potential risk and they may raise your interest rate for no other reason. There is really nothing we can do other than pay a bit more than the minimum. There is no guaranteed formula to insure they won’t raise you rate but here is something you can try… Look at your credit card statement…you’ll see probably see two boxes that tell you how much of the MINIMUM PAYMENT is applied to principal and how much is applied to interest. Take one of those numbers and add it to the minimum payment. Other than doing this for any credit cards… all your extra money should be lumped in with your HEADSTART and put on your smallest debt. Let’s speed things up…OK? Coming up with that HEADSTART seems to be an area that most people WORRY about the most. Just understand that this program will work very nicely WITHOUT A HEADSTART but you can dramatically speed things up by finding one. As an example, you may be were putting $125 per month into savings bonds for the kids. What do savings bonds pay? Absolutely “nothing” compared to 15-22% charged by credit cards. So stop that and use that $125 as a HEADSTART. Or course, adjusting your withholding if you get an annual tax refund will free up some money too! Stop giving the government an interest free loan with your money! Immediately reduce the amount of income tax withholding. You’ll have more money in your paycheck every week and you can put that extra towards a HEADSTART. BUT you must be disciplined for this to work effectively! A good idea would to be to set up an automatic transfer of these monies into a separate bank account and then use these ‘earmarked’
- 21. -21- monies towards your debt payment program. Get it? Talk of the HEADSTART always brings lots of “Should I…?” questions. You should make decisions based on what makes YOU comfortable. The most important first step in finding HEADSTART is actually figuring out where all your money goes in the first place. A woman recently lamented to me that she had $4000 coming in each month, her bills and debts totaled $3000 and she had no idea where that other $1000 went. Most people are like that. Are you? Start keeping track of where ALL your money goes. The “Where Does It All Go” chart on the next page will help you here. I just know that once you have completed it you will find your HEADSTART!
- 22. -22- WHERE DOES IT ALL GO??? WORKSHEET DAILY WEEKLY MONTHLY Your Net Income (Less) Mortgage/Housing Utilities Phone/Cable TV Groceries Eating Out Clothing Personal Care Movies/Sports Life Insurance Home Insurance Health Insurance Car Insurance Car Payments Gas/Oil Vehicle Maintenance Parking/Transit Credit Cards Loan Payments Education Child Care Gifts/Donations Vacation Newspapers/Mags Cash/Pocket Money Miscellaneous Retirement Savings Savings/Investment (Your “Headstart”
- 23. -23- HOW TO FIND YOUR HEADSTART The rich live much better than most others because they are very aware of where their money goes. This makes their cash flow stretch farther, freeing up their disposable income to create even more wealth for themselves! However, if you also want to become wealthy you must re-train your shopping habits to get more value than you've ever received before. By learning to maximize your consumption dollars, you can increase your household cash flow far more than you can imagine, and apply that extra money to wealth creating methods. If you just can’t find any ‘headstart’ money – think of ideas on how to create it! Remember, it’s all about you and creating the debt free life of your dreams! We sincerely hope that you have found this eBook to be of value to you and wish you well. Furthermore, we trust that the ideas presented – when acted upon - will make your trip towards your financial success a rich and rewarding one. All the very best to you as you embark on your exciting journey to begin living a debt free life! Enjoy the ride and Best of Success! “It's Your Life! Plan For It! Then Live Like You Mean It!"
- 24. -24- Who Is Mark Huber? Mark Huber, Certified Financial Planner, Investments & Insurance Broker (now retired) Mark Huber hails from beautiful Vancouver Canada where he was a full time practicing certified financial planner (CFP), investments & insurance broker with over 28 years of experience in the financial services industry. Mark worked with clients who all shared a passionate vision for creating true wealth protecting it and living their dream lives. Mark currently enjoys sharing cutting edge marketing ideas and practices with those who also share a passionate vision for creating true wealth and living their dream lives. Message from Mark Huber My successful 28 year career in the highly competitive financial services industry was due in large part to the Direct Marketing and Internet Marketing skills I acquired over years of study and implementation. This marketing knowledge made me uniquely qualified for success both in the financial services industry as well as the marketing and advertising industry…
- 25. -25- Because no matter the industry, product or service offered - it all comes down to creating and promoting an effective and action based message. This formula makes for increased visibility, awareness and sales… Now, my #1 passion is (and always has been) helping people to accomplish their personal and financial goals. But one of my long time frustrations as a financial planner was that I felt I was only addressing one part of my clients “formula for success”… While advising on their investments, insurance, estate and financial needs and financial plans was important and rewarding enough – I often felt limited and “impotent” because of a families lack of financial resources to really make more of a meaningful impact on their life as collectively they planned and saved for their futures and personal and financial goals in life… The bottom line was that I had no way of showing them how bring more money into their lives! Until now that is! I’ve long recognized that my role is not only to partner with individuals to assist them in creating prosperity and financial peace of mind for themselves and for their family but also to work proactively to bring the most innovative planning tools, strategies, ideas, products and people to the attention of my clients on an ongoing basis. Now, while I still can’t give individuals or families a salary increase I CAN show how to get “online” and to make money with the tools and resources and ideas that they have. This has been a very enriching and rewarding experience! I am now really and truly making a real and meaningful impact in the lives of many individuals today! Furthermore, I subscribe to the ideal that when we discover something of great value it is our obligation and pleasure to share it with others….
- 26. -26- “Who Else Wants Financial Freedom?” Who wants financial freedom? Do you know what that is? It’s the financial ability to do whatever you want, whenever you want, with whomever you want without being concerned about what it costs! Who doesn’t want that? What you probably don’t know is how easily and quickly you can have it. It’s not about working for a company for 30 years, and then finding out they lay you off before you get any kind of retirement. Times have changed – even big companies can do nothing to guarantee your financial future. Investment advisors talk about “safe” investments, cutting back and spending less, and talking about how many years do you expect to live and planning your spending of capital based on that!
- 27. -27- And yes, ‘back in the day’, when I was practicing full time as a certified financial planner I was ‘guilty’ of this too! How depressing! There is another way – and your investment counsellors will actually approve. Why not take some time, energy and money to run an online business? Don’t worry about the “How” right now, we’ll get to that… Then, take the profits you make from that business to pay for additional lifestyle benefits? That’s a nice conservative plan that your investment advisor can certainly approve and then you can live life like you want to without running out of money. How much money coming in each month would you need to forget about going to a job and just enjoy yourself? Do you want to travel, buy a vacation home, splurge on things you love to do? You can! Think about an actual number. A number that if you had that coming in every month, it would make your life awesome! Especially if it didn’t take more than one or two hours per day to maintain and you could do it from a computer/laptop anywhere in the world? Do you have your number? Don’t read ahead if you don’t. Stop. Get that number in your head before you read on! Do you have it? OK, you can continue reading, but if not, go back and really think about this.
- 28. -28- This is important, it’s your life! Did you know that, according to a traditional financial plan, if you want $5,000/month to spend, that means you need $2 Million invested at a 3.0% AFTER TAX yield to bring you $5,000/month? Bank GICs and certificates of deposit only pay .5% (if your lucky) and that’s BEFORE TAX! So, to have $10,000 to spend each month, that takes $4 Million. Remember that the $2 Million or $4 Million is “after tax” money you have to invest. How close are you to that? Now, you may not want a million dollars, but if you did want it - here’s what it would take… in 12 months!
- 29. -29- Really… when you break it down like this it’s actually doable! Right?! Here’s another plan . . . That can get you there yet this year. That’s right - this year, right now. . . even if you have no investments or portfolio now. (If you do, good for you, you have a head-start!) Here’s how: You focus on the monthly cash flow. We can show you how to get the $5 – 10K MONTHLY cash flow in less than one year. So which do you prefer? Investing a little time, money and effort to get you there before the end of this year, or, continuing on the grind you are on without any hope of kicking back and taking it easy – for decades? The Good News/Bad News Let me give you the bad news first. This plan involves you learning stuff you don’t know and are probably afraid of – Internet Marketing… But here’s the good news . . . with less than the effort of one year of college – and yes, that includes the partying – you can learn what you need to know to have a $5 – $10K monthly income for the rest of your life – yes, you’ll have to work and learn new things – but what a return! I only wish I knew this 40 years ago . . . Ready to take the next step? Feel free to join our 'Idea To Profits In 21 Days' FB community here http://bit.ly/IdeaToProfitsIn21Days Discover what's necessary to go from survive to thrive in today's economy.
- 30. -30- Want to chat? Book your best time on Marks online calendar here https://bit.ly/MarkHubersCalendar Follow us on Twitter Facebook LinkedIn "Our mission is to teach, support and empower people to transform their lives!" _______________________________________________________ Feel free to share this report with other great people just like you! After all, you want them to succeed too. Right?! - The End -