Hey, welcome to Friday vlog,
doing a fireside chat here. Came across an article and the way that many of you
have commented, it seems you like kind of the
headlines, real time headlines, and in this case, one that really applies, not more so than a headline
but I think it’s just a good baseline, makes a
whole lot of sense to me. You know, do I agree
exactly with the number? Probably not. But I also think that
the number’s not meant to take it, you know, written in stone, more of just kind of a overall gauge because it does actually
make a whole lot of sense from more so a general concept perspective and yeah, retirement is
something that we should all be focused on and as the article suggests that I’m going to show,
getting rid of debt is definitely a huge part of that. And that’s probably
not like rocket science or anything like that,
however, when you look at the statistics out there, I know
I’ve done one of these before talking about the statistics
that people who feel like they’re not going be ready for retirement or are just, it’s already
too late, they’re not ready for retirement
are really, really high and seem to only be going up. So if this video can just
kind of give somebody an FYI and let them kind of like get
going and to do something, then this is definitely time well spent and a video well spent making. So yeah, let’s get to this article. It comes from Kevin O’Leary
and if you’re not familiar with him, he is one of the
investors on Shark Tank. If you don’t know what
Shark Tank is, it’s just a reality TV show where
people invest their money into start up companies. But the guy’s a billionaire. The guy, I respect him a lot. And maybe you’re thinking,
dude, he’s like the biggest jerk on Shark Tank. If you ever read his book,
then you’ll quickly figure out he knows exactly what
he’s doing on Shark Tank. He understands marketing, he understands that that is kind of his role. Is he probably pretty black
and white in real life? I’m not saying that and yeah he is, you know, when you read the book. However, does he maybe amp
things up a little bit for TV? Of course he does, he knows
exactly what he’s doing. Yeah, he’s a jerk but he’s
not quite as what much as what you would think,
but at the end of the day, who really cares. Like I said, I’ve read his
book and he’s all about passive income, that’s why
he structures a lot of deals the way he does with royalties
because he just wants money flowing in every month. Every month, he just wants
checks showing up in the mail. And I’m the same way, that’s kind of my personal finance goal is
multiple streams of income where, you know, money is just
coming in on a monthly basis so that’s why I’m doing the
trading, I have the trading business, I do real estate,
I now have moneywithclay.com. So I’m just trying to
just get passive income and just having multiple flows of income. So let’s get to the article
here and just kind of talk about a couple of the
points that he makes. So the title of the article,
Kevin O’Leary: Here’s the age when you should have your debt paid off. So the whole premise of
the article is retiring in your 60s so right
here from the article, but in order to retire in your
60s, you need to get started down the right financial
path early by saving and minimizing unnecessary debt. That’s because your
spending, responsibilities, and likelihood to take
on debt only increase as you get older. And I guess I’ll pat myself
on the back a little bit. But that’s one thing that I
think, now don’t get me wrong, I’ve done a lot of stupid
things, I don’t want to come across like I have
it all figured out. But one thing that, and
I think it’s just ’cause I’m an engineer by degree,
that’s just kind of how my mind works, but starting
young, I always had a plan in place and I followed the
plan from a personal finance perspective because yeah,
you quickly do realize and this is something I can
speak from experience with. When I was just young,
didn’t have a girlfriend, didn’t have anything,
yeah, I was making money but I didn’t have any, I mean, what debt? Mortgage, are you kidding me? But then as life goes on, you get a wife. And now you have kids. And then you get, I mean, yeah. When you are young, that’s when you gotta get your plan in place. The sooner you can get a
plan in place, the better. And that’s why, I don’t
really, I talk about my slab course that I have out there through moneywithclay.com
that I really do recommend to everybody because it works. Is it rocket science? Is there a lot of common sense into it? Yeah, I’m not going sit
here and say that I found a Holy Grail of anything
but I found a system that does indeed work and
that’s why, like Kevin O’Leary is saying, the sooner you
can get started, the better. When you get that plan in place,
then you are going to know how to navigate all the
oncoming things that are coming your way. So if you are younger and watching this, yeah, I hope you check out my course. I hope you consider it because I guarantee it’s going to get you on the right path. And that’s not just like
words, there’s a reason why I offer a one year guarantee with it. Because I’m confident you will get results if you put my plan into
place and follow that plan. So again, these are not just empty words. I do offer a one year
guarantee on the course itself and it’s 129 bucks so it’s
not like this is some sort of massive cost or anything like that. But even if you are older,
as you’re about to see with this number, I mean,
there’s still plenty of time but my point right now is
just, you know, which I do agree with Kevin O’Leary,
is yeah, the sooner you can get started in
life, I mean, the better because you’re only going to
have more responsibilities as you age and get older and older. When should you aim to
have it all paid off? It being the debt, remember. Age 45, O’Leary says. The reason I say 45 is the
turning point, or in your 40s, is because think about a career. Most careers start in early
20s and end in mid 60s. O’Leary says. So when you’re 45 years old,
the game is more than half over and you better be out of debt
because you’re going to use the rest of the innings in
that game to accrue capital. So get to it. I fully agree with that rationale. Now, ideally, you’re already
saving for retirement well before 45 but that’s why, you know, you gotta kill the debt. You gotta destroy the debt
because as soon as the debt is gone, and that’s the whole
premise of this article, then you can really start to
save and give yourself a chance to not only build wealth but give yourself a good, solid retirement. And not one where, oh I’m going
to depend on the government. I do not plan on getting
a social security check. For me, I think that
program’s going to be gone. It’ll be bankrupt, so for somebody my age, I’m 34, I think, yeah 34. I am not planning on, and I’m
not trying to turn this into some political thing, just
for me and my planning, I don’t ever plan on seeing
a social security check even though I pay in
every month, which kinda is terrible but it is what it is. So that’s why I say you
better get a plan in place because if you’re plan is
well, I’m going to depend on Uncle Sam to take care of me. All the best to you, I
hope it works out for you, but get the debt out of the way. And again, that course
that I’ve talked about, the link will be below. That’s one of the big
things that I talk about. In fact, I go over the exact
steps I used to pay off over 160 thousand dollars
of personal debt that I had so I’ll leave it at that. But, it will, it works. And again, not words, one
year guarantee with it. But yeah, now if you’re right around 45, then all that means is that
you gotta ramp things up. You gotta get to it, you gotta
really pick up the pace here. If you’re past 45, well then
still, better late than never. And ideally, at that point,
maybe your kids are close to being out of the
house or what have you. So when they’re out of
the house, you know, a lot of the costs will
go down and now you can attack that debt with more
of a vengeance and yeah, start to save. So 45, like I said, and you
know, Kevin O’Leary’s point, you know, in your 40s, that
ranges when it’s kind of the middle of the game and
it’s time to start to focus your attention to other things. But yeah, if you can
get debt free before 45, before your 40s, which a lot of people can if you have a focused plan,
then you are just setting yourself up for, I mean,
just think about it. Let’s say you start saving for
retirement at age 30 or 35, or heck, even 40, that
still gives you a five year advantage to when you’re
supposed to really be focusing in on all that sort of stuff. So get debt out of the way and, you know, start saving because
retirement is a real thing and I don’t know about you
but I’d like to be comfortable in retirement, I don’t have
to have to be depending on others so that’s why
I’ve always been focused on more so the long game and
continue to be focused on it and I hope you decide to
do the same thing too. Get a plan in place and
any sort of good plan will be first focused on, you
know, getting rid of the debt and then you can focus
on expanding and building more wealth and yeah,
so I hope you consider the course that I have to offer. But if not, I still wish you all the best and I hope that you
take this stuff serious because I realize
retirement can seem far away but it’s here, it might just be too late. If you’re out there
trading alone currently and maybe are in the market
looking for a community to join to assist you in your
trading or to just help you you know, give you
another set of eyeballs, then I do have a private
trading community where you can trade alongside me and
other experienced traders. So what you see popping
up on the screen right now is both an information
link so if you click on the inner circle one,
that is going to take you to the page where I
explain all the details of what exactly come with the community, both the chatroom and the newsletter. And the the other image
that has popped up is a behind the scenes tour
where you can see exactly what is going to be contained
within the community. I take you through, like I
said, a behind the scenes tour of everything and that
way you’ll know precisely what you are getting when you join. So definitely check that stuff
out if you are interested and thinking about wanting
to join a community and let me know if you have any questions.