CREATING WEALTH IN AMERICA Utilizing Tax Advantages The E-Commerce Explosion Passive Income Vehicles.

Slides:



Advertisements
Similar presentations
Chapter Nineteen The American Economy Personal Finances ~~~~~ Insurance Against Hardship.
Advertisements

Credit Buy Now, Pay Later. Credit Someone is willing to loan you money (principal) in exchange for your promise to pay it back, usually with interest.
Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,
Still Makes Sense to Buy vs. Rent… Essential Information on the Benefits of Homeownership.
Budget How to budget your money?. “Budget Busters” Give yourself five points if you have a budget. Give yourself five points if you have a checkbook.
Measuring Your Financial Health and Making a Plan
Build Wealth, Not Debt Strategies for helping clients out of poverty.
Personal Finance Activity
Welcome To Our Educational Workshop On:
Copyright Leslie LumPage 1 Module 1 Why Are You Here?
Financial Literacy Taxes and Insurance. Banking Follow Up Checking Accounts: Emily, Jocelyn, Jarek Savings Accounts: Robert, Anastasia, Greg Money Markets.
Creating a budget is important to ensure your financial security, monitor your income and expenses, and a way to help you save money. In order for your.
16-1. Money Management Basics $100 probably seems like a lot of money to you now. In the future you will have more expenses Food, housing, insurance,
 A budget is a written record of the money that flows in and out of your household or pocket every month.
Money Matters Spring 2015 $$$$$$$$$$$$$$$$. True or False – – Using a credit card is a lot easier than paying cash – Credit cards are a great way to buy.
1 Chapter One First Things First Ken Long New River Community College Dublin, VA 24084
Disclaimer: The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve.
Credit Cards Did you know that 183 million Americans are using credit cards? Average credit card debt is ~ $7,100 per household in 1012.
Presented by Jeanne Nguyen.  Setting Priorities  Making a Budget ◦ How to Start a Budget ◦ How to monitor  Qualified Funds (401(k), Roth, IRA, and.
Good Debt vs. Bad Debt 7 th Grade Income vs. Expenses #3.
Unit 4 Creating a Budget. Objective(s) What is a budget? Activity – Pair up with someone in the room and sit with them and prepare to begin the budgeting.
Research for Monday Night – Your Own Research Housing values Cars values Interest Rate for Cars, Houses, Savings, and Retirement Accounts – Bring your.
Budgeting What is a budget? What are characteristics of a budget? Why do you need to budget?
Financial Planning. Income Minimum Wage - $ 8.10 hourly Associates Degree – $ 40,000 Bachelor Degree – $ 50,000 Masters – $ 45,000 - $ 85,000 Doctorate.
Dear God – I know that You are the source of all that I need to get through each day. I need to look for your wisdom and strength to make my day easier.
Chapter 6 Consumer Credit
Money Matters Kentucky Wesleyan College KW1101 – Fall 2006.
Budgeting Adult Living. What is a budget? A budget is a plan for spending and saving your money A budget includes: – Income- the amount of $ you earn.
Financial Literacy: Knowing What You Need To Know To Achieve Your Financial Goals.
© South-Western Educational Publishing Chapter 8 Budgets and Financial Records Budgeting and Record Keeping Filing Systems Budget: Keeping track of income.
Prepare for Financial Emergencies Manage Spending 2. Prevent Financial Emergencies 3. Become Debt Free 4. Prepare For Retirement 5. Teach Kids.
PERSONAL INVESTMENTS HELPING YOUR CLIENTS REACH THEIR GOALS.
Only 40 percent of Americans use a budget to plan their spending… The rest routinely spend more than they can afford.
8.3 Paying Income taxes “It’s death and taxes here to see you. Taxes wants to come in first.”
Using Credit SSEPF4.a, SSEPF4.b, SSEPF4.c. Loans and Credit Cards: Buy Now, Pay Later The U.S. economy runs on credit. Credit – The ability to obtain.
Wealth Gap in America. World Comparison.. The United States is the wealthiest nation in the world, followed by China. The United States is predicted to.
Average Costs.  Employers cost to pay for single coverage averages about $5800 per employee  That means for an employee who is paid 52 times per year,
CREDIT 101 Top Ten Tings to Know!. Drowning in Credit Card Debt Americans are loaded with credit card debt. The average American household with at least.
Freedom. Options Choice. The ability to change careers, the option to buy a new car, the power to take a vacation. By applying the financial principles.
Balancing the Budget: Fitting It All In!. “What does it mean to be financially responsible?” What was the last big purchase you made? What decisions and.
The Decision Maker. Managing a Profitable Company.
Your Financial Future Credit. Payroll deductions  Federal taxes – pays for roads, bridges, government, military, space program, disaster relief, schools.
Bell Ringer  Where do you see yourself in 15 years?  Be specific  Relationship status:__________________  Kids: ___________________  Pets: ___________________.
Budget How to budget your money?. “Budget Busters” Give yourself five points if you have a budget. Give yourself five points if you have a checkbook.
MSCA6-1 Students will understand the personal nature of work and how it relates to them as individuals and as integral parats of society. a) Identify reasons.
BUDGETING 2010.
It’s your Money! How to make your tax refund work for you!
Budgeting Your Money. Monday 3 rd Period Objective: Be able to explain what a budget is and how using one can help you. EQ: What is a budget? How do I.
SAVINGS – Plan for Financial Security. Why Save?Savings is a trade off. You agree to save now in order to spend in the future.  Save for the Unexpected.
Your Children: A New Financial Challenge Chapter 5.
What is a Budget? Economics. “A Dream stays a Dream until you create a plan to make it come true; then and only then does it become reachable goal”
2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.
2-1 Measuring Your Financial Health and Making a Plan.
G1 © Family Economics & Financial Education – February 2006– Get Ready to Take Charge of Your Finances – Planet Paycheck – Slide 1 Funded by a grant.
Unit Four Good Debt, Bad Debt: Using Credit Wisely.
Assets vs liability Car Loan The average car payment in America is $450/mo A 2009 Tahoe in Idaho right now is $23,000, $25,000 after tax/registration.
IT STILL MAKES SENSE TO BUY VERSUS RENT Essential Information on the Benefits of Homeownership.
Personal Finance Life Skills Preparing for a financially secure future.
Get Out of Debt – and Stay Out!. Some Statistics About Debt 150 million Americans have credit cards 1/3 pay their balance in full each month That means.
BUDGETING 101 STUDENT CAREER DEVELOPMENT BUSINESS ADMINISTRATION 036 (740)
Budgeting 101 Many Americans do not know how to manage their money to keep themselves out of debt, let alone to save money. Budgeting can help!
Let's get organized Even if your tax situation isn't complicated, there's still documentation the Internal Revenue Service demands. But filing taxes doesn't.
Personal Finance Cash Flow
Disclaimer: The views expressed are those of the presenter and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve.
BUDGETING & Managing Your money
Preparing for College and Careers
Personal Money Management
America’s financial literacy
How to budget your money?
Presentation transcript:

CREATING WEALTH IN AMERICA Utilizing Tax Advantages The E-Commerce Explosion Passive Income Vehicles

WHERE ARE WE TODAY? 2.2 Million People are expected to file Personal Bankruptcy this year! 2.2 Million People are expected to file Personal Bankruptcy this year! Mostly due to massive Credit Card debt! Mostly due to massive Credit Card debt! The Average Family has over $7,000 in Credit Card debt! The Average Family has over $7,000 in Credit Card debt!

MONEY MANAGEMENT POLL 80% of the Households in America believe they are falling behind financially! 80% of the Households in America believe they are falling behind financially!

LOU HARRIS POLL 96% of the people who lay awake at night are worrying about… 96% of the people who lay awake at night are worrying about… Their HEALTH or Their HEALTH or Their FINANCES! Their FINANCES!

FORTUNE MAGAZINE If the Average Baby Boomer expects to have money into their 80’s they will need… If the Average Baby Boomer expects to have money into their 80’s they will need… $1.5 MILLION DOLLARS In a Retirement Account!

THE REALITY IS SHOCKING!  According the The Social Security Administration At Age 65…  36% are Deceased  54% are Dependent on Family or Welfare  5% are Still Working  4% are Well To Do and only  1% are WEALTHY!

YES… BELIEVE IT OR NOT! At Age 65… At Age 65… 90% are either Dead or 90% are either Dead or DEAD BROKE! DEAD BROKE!

WHAT ABOUT YOU? Do you have a Plan to put away at least Do you have a Plan to put away at least $1.5 MILLION DOLLARS? AND EVEN IF YOU DO… Think about all the people who DO NOT!

WHAT WOULD IT TAKE… You have $150, in the bank You have $150, in the bank You are 45 years old You are 45 years old You want $1.5 Million in 20 years You want $1.5 Million in 20 years How much do you need to save? How much do you need to save?

LET’S SEE… You would need $1,350, You would need $1,350, To have this amount working with 8% To have this amount working with 8% You would have to save a mere… You would have to save a mere… $ Per Month for 20 Years $ Per Month for 20 Years $27, Per Year

GOT AN EXTRA $27, LAYING AROUND?

REMEMBER THE WEALTHY? The 1% that Retire Wealthy… The 1% that Retire Wealthy… Do You Know How 74% Got Wealthy? Do You Know How 74% Got Wealthy? They are in Business for Themselves! They are in Business for Themselves! BUT… Few take Actually take Action! BUT… Few take Actually take Action! Most only Dream about being in Business! Most only Dream about being in Business!

THE BUSINESS KILLERS Start-Up Costs Start-Up Costs Payroll Payroll Inventory Costs Inventory Costs Equipment Costs Equipment Costs Liability Insurance Liability Insurance Competition Competition Overhead Overhead Theft / In / Outside The Economy Regulations Advertising Costs Debt Service Consulting Fees Employees

THERE IS A BETTER WAY! It is Possible to make it BIG in Business and TOTALLY AVOID TOTALLY AVOID all of the Typical Obstacles associated with Being in Business!

START A HOME BUSINESS! One of the Fastest Growing Trends In America today! One of the Fastest Growing Trends In America today! Every 11 Seconds Someone starts a New Business Venture from Home! Every 11 Seconds Someone starts a New Business Venture from Home! Why a Home Business? Why a Home Business?

WHY A HOME BUSINESS? TWO BIG REASONS!

HOME BUSINESS? Did you know the Average income of a Home-based business is over… Did you know the Average income of a Home-based business is over… $50,250 annually! $50,250 annually! Nearly twice the Average American wage earned! Nearly twice the Average American wage earned!

HOME BUSINESS? 30% Earn Incomes of $60,000+ Annually! 30% Earn Incomes of $60,000+ Annually! 20% Earn Incomes between $100,000 and $500,000 Annually! 20% Earn Incomes between $100,000 and $500,000 Annually!

GO SEE YOUR RICH UNCLE! You Know, Your Rich Uncle Sam!

HOW MANY OF THESE THINGS DO YOU HAVE? House Payment House Payment Rent Payment Rent Payment Electric Bill Electric Bill Phone Bill Phone Bill Home Insurance Home Insurance Car Payment Car Payment Car Insurance Car Insurance A J.O.B. A Commute to Work Lunch Breaks Children at Home College Plans Wedding Plans Vacations

AS AN EMPLOYEE WORKING FOR SOMEONE ALL of these items are Non-Deductible Personal Expenses! ALL of these items are Non-Deductible Personal Expenses! However – If you had a Business in your Home… However – If you had a Business in your Home… All of these could be Deductible Business Expenses! All of these could be Deductible Business Expenses!

DEDUCTIBLE BUSINESS EXPENSES? According to the Tax Reduction Institute… According to the Tax Reduction Institute… The Average Home Business realizes additional tax deductions every year of over The Average Home Business realizes additional tax deductions every year of over  $ 15,000.00

WRITE OFF A PART OF EACH OF THESE! House Payment House Payment Rent Payment Rent Payment Electric Bill Electric Bill Phone Bill Phone Bill Home Insurance Home Insurance Car Payment Car Payment Car Insurance Car Insurance Average Write Off Average Write Off 15% 15% Up to 100% Up to 100% 15% 15% 78% 78%

WRITE OFF A PART OF EACH OF THESE! A J.O.B. A J.O.B. Commute Commute Lunch Breaks Lunch Breaks Children at Home Children at Home Kids College Kids College Kids Wedding Kids Wedding Travel Travel Not Yet! Not Yet! Ride Home – 31 Cents Ride Home – 31 Cents 50% 50% $ /Year $ /Year Tax Free Tax Free 100% 100%

HERE IS YOUR $27,500! Between Tax Savings and Between Tax Savings and Added Part-time Income… Added Part-time Income… BECOMING WEALTHY JUST GOT A WHOLE LOT EASIER! BECOMING WEALTHY JUST GOT A WHOLE LOT EASIER!

THE HOTTEST TREND IN AMERICA TODAY… HOW YOU CAN CA$H IN! BIG TIME!