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The Money Club for Young Adults
Welcome to The Money Club!
Our goal is to provide useful information and perspectives on money topics that are relevant to young Canadians - we aim to educate and entertain. But we are not providing financial advice... you need to decide what is right for you.
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We have organized more than 30 pages of material into 8 folders with drop down menus.
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Take a minute to browse the web site and get familiar with all the content. Spend time on the topics that interest you the most.
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It is best to use a tablet or computer to view the material on the web site.
Above is an example of the material we will use.
OK... Let's get into what you all want to know... drum roll...
How can you become wealthy / rich / financially independent?
The truth is you are ALREADY RICH! Yes, I know... shocker. How?
1.) You already own an asset that is worth a minimum of $1.2 million. That asset is you. When you are young what you do with this asset will impact your financial future more than anything else: education and habits. Get a good education. Learn good habits (hang out with the right people, work for a great boss and co-workers).
OK... so you have YOU covered... Where to start with everything else? We have some ideas below that should help. It might make you sweat a little. But just remember, to get in shape you need to actually hit the gym (and do the work). The more effort you put in - the more you will get out of it. Getting into financial shape is the same.
2.) Start with our Financial Boot Camp.
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Complete a Net Worth Summary.
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Complete an Annual Budget Summary.
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Set some basic Financial Goals for the next year.
3.) What else can you do to hit the financial ball out of the ball park? Learn The Golden Secret. Save 10% of everything you earn and invest it in equity ETF's.
Yup, it really is that simple.
4.) Of course, there are lots of other things that also will help. When you do these other things together with The Golden Secret you will accelerate that get rich thing.
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Credit Cards - pay off your entire balance at the end of each month
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How do you save? Live below your means
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Vehicles - in short, they destroy wealth. You are not going to get rich owning an asset that falls in value 15% every year - guaranteed.
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What did Einstein call the 8th wonder of the world? Compound interest
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When looking for a job don't chase the cash; focus on the skills you will learn.
Now a bunch of you might say... "but I don't want to get rich?" Rich people exploit people... how else could they get rich? That, of course, is complete garbage.
If you want to help people... GET RICH.
When you are in your mid to late 30's - and trying to juggle relationships, family and career - you will be VERY happy you are in rock solid financial shape. Being rich will give you lots of great options, and that generally leads to a much happier life. Just ask someone who is poor.
Trust me on this one.
And if you know nothing about money... it is NEVER too late to start to learn. Every journey begins with the first step... take yours today.
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