Best Tips from the Six-Figure Debt to Six-Figure Net Worth Course (Episode 59)

Today is the last day to take advantage of the Six-Figure Debt to Six-Figure Net Worth investing course. After midnight tonight, the course won’t be available again for another six months.

You don’t want to miss this chance to learn our best investing tips to grow your worth into the six-figures or obtain millionaire status despite your student loan debt.

Before the course closes, I want to share some tips to give you a glimpse of my investing philosophy. Here are some of the top takeaways from the course and how they can save you a lot of money.

How to win with the stock market

When it comes to putting money in the stock market, a lot of people are afraid of a bubble that’s going to pop, leading to another recession even worse than the last one.

A recession is certainly possible if you look at the market conditions. The returns we’ve seen over the past 10 years have done nothing but go up. Last year, we saw roughly a 30% return in the stock market.

Nobody could have told you that the market was going to go up 30% last year, which shows you how unpredictable investments can be. The key to winning with investments is to set yourself up so you can win no matter what.

I can guarantee you’ll lose money at some point because you do with any kind of investing. The only way you lose money long term, however, is if you panic and make mistakes that we show you how to avoid in the course.

Money-saving tax strategies

One technique to help you get ahead with investing is tax-loss harvesting. I use this strategy to save about $1,500 a year on our taxes. Here’s how it works:

Let’s say you put $2,000 a month in a mutual fund and built it up to $25,000.

But the stock market takes a downturn. Seeing the downward trend, people panic and start selling assets, which causes the stock market to crash

In this scenario, let’s say your investment drops from $25,000 to $15,000. You’ll have a $10,000 loss if you sell now. Or, you could buy and hold, which seems like the smart option.

Benefits of tax-loss harvesting

Alternatively, you could take advantage of tax-loss harvesting by selling that mutual fund and lock in a $10,000 loss. Then, you take that $15,000 and invest it into another mutual fund that is similar to the one you had.

If the market starts to pick back up, you can swap your stock after 30 days into the fund you had before. You won’t lose a lot of money with this strategy because you’ll see very similar returns by buying into very similar stocks.

The IRS allows you to write off $3,000 of your ordinary income from investment losses. Unused losses can be carried forward into future years to lower your tax bill.

In this scenario, we had a $10,000 loss. We can claim a $3,000 loss this year and for the two years after that, plus a $1,000 loss in the fourth year to use up the rest of the $10,000.

A typical couple earning $70,000 per year could save around $1,200 every year for several years with this strategy. The investment course is only $399. Just this one example could give you a 200% return on the investment of buying the Six-Figure Debt to Six-Figure Net Worth course.

The price of trading your time for money

Before you invest in something, ask yourself whether you should trade your time to be able to buy that thing. You won’t have a job forever.

Someday you’ll retire, and the chance to go to work to earn money for that purchase will be gone.

Make decisions that will benefit you in the long run

Here’s why that matters: Let’s say you have a habit of buying a new car every two years, which isn’t that uncommon. Your new car can cost you about $20,000 per year after accounting for dealer fees, maintenance, ownership expenses and taxes.

To sustain your car-buying habit through your retirement years, you need to save 25 times the amount in investments to cover each dollar in spending. That works out to an extra $500,000 in investments to continue upgrading your vehicle every two years.

How much time would it take you to reach $500,000 in investments? If you have a $50,000 to $100,000 yearly income, that could take you a decade. Is your new-car habit worth showing up at the office for 10 years? Or would you rather do something else that you enjoy for a lot less time and money?

This is the framework you want to be thinking about when you’re investing.

To do that, you need to really understand how investing works. And that’s why I created the Six-Figure Debt to Six-Figure Net Worth course in the first place. Outside of student loan debt, which is a huge problem on its own, people need to know how to invest.

Why you don’t need a financial advisor

The investing strategies we teach in the course are very sophisticated but also very easy to implement. If you ask me, the key to successful investing is to not make it complicated. It comes down to three things:

• Minimizing fees, expenses and taxes
• Understanding what you’re willing to win and lose
• Setting up a portfolio that reflects your expectation of what you might win or lose with things that you understand

Based on that approach, most people don’t need a financial advisor. There are two exceptions: You’re either very wealthy or you don’t enjoy managing your own money.

Tips for managing your own finances

If you dread the idea of managing your own finances or your wealth makes your financial situation complicated, a financial advisor makes sense. Everyone else just needs a couple hours a year to successfully implement an investing strategy.

Your success comes down to your savings rate. There’s one way that a financial advisor can pay for themselves over everything else, and that is by cajoling you into saving more or making more money.

A financial advisor could convince you to buy the $20,000 SUV instead of the $50,000 one and to put the difference in mutual funds or your retirement savings. Or better yet, they could show you how to earn more money by being a practice owner, negotiating a raise, or taking advantage of geographic arbitrage and moving to a different part of the country.

How to transform your situation

The Six-Figure Debt to Six-Figure Net Worth course can transform your financial situation. My background as a Chartered Financial Analyst and bond trader who managed portfolios worth tens of billions of dollars taught me a lot about investments, and I share that information with you in this course.

Instead of paying a financial advisor a couple of thousand dollars a year, you could pay a one-time fee and learn everything you need to know to manage your money yourself.

With the investing advice you learn, your net worth could increase exponentially. At $399, the content you get is a tremendous value.

We have a seven-day, no-questions-asked refund policy when you buy this course. If you sign up and don’t feel like you got $399 worth of value, you get your money back.

Hundreds of people have taken the course and experienced amazing transformations. You can, too. But don’t wait because the course registration closes tonight at midnight!