How To Stockpile $100,000 in 15 Years

1. How to Stockpile$100,000 in 15 Years

2. Saving $100,000 – A Walk in the Park? • Reaching $100,000 in 15 years requires investing $300 per month. • The best way to reach that 15-year goal is to increase income, decrease expenses and increase assets. • Even though the process might sound complicated or out of reach for you, we’ll show you how it’s easier than you think!

3. Formula for Saving $100,000 in 15 Years

4. What is an Asset? • An asset is anything that is purchased or acquired for the purpose of generating income in the future. • For example, a car would not be considered an asset because it will de-value as the years go by. • Your home might or might not be an asset. Did you purchase it to live in the rest of your life? Will you be selling it before it can gain equity?

5. These are assets:

6. What is Debt? • Debt is the total amount of money that is owed. • Having $1 million in assets puts you in a better position than having $1 million in assets and $2 million in debt. • The solution is to possess Net Assets.

7. Calculating Net Assets

8. Strategies: Achieve Your $100,000 Goal

9. Budgeting & Saving

10. Tips for Budgeting • Sit with your family at the beginning of the year and outline projected expenditure. • Compare how the expenses will match up to income. • List expenses in descending order so you can see which ones consume most of your income. • Start looking for ways to tackle or cut down huge expenses like your mortgage or dining out expenses.

11. Things to Consider when Budgeting

12. Finding the Funds: $3600/yr.

13. Finding the Funds: $300/mo. • Use savings that you discovered when doing your budget. • Earn extra money in your free time: • Provide services for others • Blog about your favorite hobby. You can monetize that blog in many ways.

14. Finding the Funds: $10/day • Combine methods and focus on smaller goal of $10/day.

15. Investing

16. Tips for Investing • Investing is putting your money to work for you; it is thinking about the best way to make more money. • The more money you spend in your lifetime on income producing assets, the wealthier you will ultimately become. • The sooner you get started, the harder your money can work for you.

17. Things to Consider when Investing

18. Things to Consider when Investing

19. Types of Investments

20. Types of Investments

21. Managing Debt

22. Things to Know About Managing Debt • If the interest on your debt is greater than the likely rate of return on your investment, then you should be paying your debt first. • Most experts quote a figure around 7.5% as a reasonable expectation for return on a stock. • Any debt that is charging you more than 7.5% interest should be paid before any real investing starts. • Debt is the equivalent of an anti-investment.

23. Focus on Credit Card Debt • Eliminate any additional use of your credit cards. • Don't close the accounts, since it will negatively affect your credit score. • Do whatever you have to do to stop using them. This could include cutting them up or locking them away.

24. 2 Strategies to Clear Credit Card Debt

25. Minimizing the Effect of Taxes

26. Strategies for Minimizing the Effect of Taxes

27. Planning Investments Around Taxes • Stocks that are held for more than a year and then sold are taxed at the capital gains rate. • All bonds and any stocks that are held for less than a year are taxed at your marginal tax rate. • That means that if you have one or more accounts that are tax-deferred, you should ideally be holding bonds and short-term stock trades in those accounts.

28. Protecting Wealth

29. Looking Into Protecting Wealth • There are several aspects that go into protecting your assets and your wealth. • Set up protection from potential legal actions against you. • Avoid the temptation to spend your wealth before you're done needing or accumulating your assets.

30. Conclusion • Building assets is really just a function of budgeting/saving, investing, reducing debt, and then protecting those assets. • Eliminate the waste from your financial life, increase your income slightly, and invest consistently. • Building savings of over $100,000 in 15 years is well within the capabilities of anyone with the necessary discipline.

31. We hope you enjoyed your Special Report! Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog. Common Cents Wisdom is a website with hundreds of informative articles, special reports, resources to assist you with all of your financial concerns and a free monthly newsletter. Sign up to receive your free eBook "Common Cents" and get started today on the road to financial freedom!

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