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I was able to achieve millionaire status through real estate while continuing to work my 9 to 5 job. I want to help you achieve the same results. As a former Submarine Officer in the Navy and current Reactor Operator at a Commercial Nuclear Power plant, I try to give a realistic and honest prospective on building wealth through real estate and the stock market. I detail my greatest successes and failures on my journey and give actionable advice to help you on your financial journey. #personalfinance #realestate #wealthbuilding #longterminvesting
If you are struggling with debt, know that you are not alone and there are free resources to help. Accessing your home equity can be a very powerful tool if used judiciously, but can make a bad situation worst without the proper plan in place. Here is a link to Approved Credit Counseling Agencies near you to help you put together a plan and start making progress. Thanks for watching! www.justice.gov/ust/list-credit-counseling-agencies-approved-pursuant-11-usc-111
Hopefully you found this video useful. If you plan on moving forward with purchasing a home check out my video on how you can get a low interest rate in today's high interest rate environment. Thanks for watching! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-hlrvrTStJYw.html
Let's keep it simple When I was a kid: We had no cable No internet No cell phones No NETFLIX No NFL package and yes school was uphill both ways.. Today's society has bought into the marketing that all of these things are needed and we would be embarrassed to tell friends we don't have them. I taught my son about these pitfalls and that you would have to earn about 175% of the cost when you figure out all of the taxes taken out of your check just to get them. Yet most of the young have no idea what the rule of 72 is or understand doubling of money and how it pertains to long term investing. You can get to two commas but you have to have a plan and a vision of how to do it.
Great to see that many of your lessons learned can easlily be transferred to non-military surroundings, e.g. academia. When watching, I realized that a lot of what you explained in this video kept me going during hard times as a PhD researcher without any meaningful results after three years of hard work. God bless, and best regards from Germany.
I had the honor of visiting the USS Toledo while it was in its home port in Groton, CT. Command used our group of very smart civilians as preparation for a visit from the Joint Armed Services Committee and First Lady Michelle Obama. Command wanted us to ask questions, lots and lots of questions. We got the VIP tour of the base and some training facilities. We were told about what a volunteer goes through just to be selected for the submarine service, the extensive psychological evaluation that a potential sub mariner goes through. You have little personal space; only those at the top have the privilege of being able to shut a door on themselves without stumbling into a shipmate. Then, there's the training--appropriately challenging. Only the best and the brightest get to take Uncle Sam's dollar and sail under the seas in submarines. I was impressed at how many enlisted submariners love their work; how many of them have done multiple contracts. They know that if you go to a watering hole in or around Groton and New London, there's recruiters looking for submariners who might be persuaded to return to the civilian world for a lot more money than Uncle Sam can afford to pay them. In fact, the base CO pointed out a couple of civilian recruiters, looking for nukes. He knew that Duke Energy and the Tennessee Valley Authority, etc. were recruiting. So was Lockheed Martin, General Dynamics / Electric Boat. There are fine dining establishments who would love to have a former submariner cook as a sous chef. The base CO rattled off the names of local businesses who wanted to hire experienced enlisted submariners. I asked, "Why to our service people chose to take Uncle Sam's dollar, spending their careers in the Silent Service, when civilian employers are willing to pay a lot more for their services?" I concluded that It's the culture. Submarines are very special places. Officers like you are truly special. The SEALS, SEAL Team Six, Delta, etc. get all the glory. Submariners are just as special as Special Teams guys, but in a different way. There are precious few people who have the right psychological make-up and the intelligence that it takes to go to sea in submarines. It's important to remember that the wife and kids left behind also serve. They make sacrifices. I was told that a very common reason a submariner leaves the Silent Service is family / marriage. I am an old-school GE engineer. At one time, where I lived, you really wanted to work for GE. GE had a great culture. We hired the best people for the job we could get our hands on, expected them to behave as adults and treated them right. We were taught that, as a manager, the most important thing you bring to the table is YOU: your character, your values, your morals, your ethics. The higher up you go, your technical expertise becomes less relevant (you have subordinates to take care of that) but who you are as a person becomes more relevant. I was worried (and am still worried) about Donald Trump residing in the White House. I am worried because he lacks basic morals, personal honor and ethics. I am definitely not thrilled with Joe Biden, because he's a Go Along to Get Along sort of guy--a trait you really don't want to see in a leader. I was impressed when it came to the camaraderie, the culture that develops in submarines.
The culture is very special. Few will ever understand the sacrifices and rigor required to work on a submarine. It is a brotherhood unlike any other. To this day if anyone I served with reached out, I would drop everything to help them out. Thanks for sharing and watching!
SSN 751 brings back some memories. I spent 3 days at sea onboard for my command qualification observation. Good boat, good memories. Thanks for your service.
Sorry for the delay in responding I did not even consider that someone might want the spreadsheet. Here is a link to get it. Thanks for watching! talkhiggins.ck.page/a50baa7379
This is the video I wish someone had shown me years ago. No one ever spells out exactly what investments are available with accredited investor status and the amazing returns that they can produce. This video is one of my favorites!
I'm sure they did, but you get bombarded with so many documents when you sell a house that they probably didn't analyze them that closely. They also dropped the price multiple times, so it's possible they didn't realize they had gone so low that they needed to bring money.
This video actually took months to complete. My wife and I actually tried two of the four methods I discuss in this video, during our search for our primary residence here in TX. If this video inspired you to get off the sidelines and take action on your house hunt please share it in the comments. 💪🏾Thanks for watching!
I would be lying if I said I had one off the top of my head. I always like the "Little Book of ..." series. I started with the "Little Book of Valuations: How to Value a Company" book and I have been hooked ever since. Their stuff is more stock market focused and not really as applicable to real estate. They have one, on Stock Market Cycles but I have not read it personally. Hopefully that helps.
The 5th option is to rent by the room. Renting by the room can greatly increase the potential income from a property. This can be done with the help of websites like Padsplit or you can try to set it up on your own. I personally have never really considered this strategy because of the type properties I have in my current portfolio, but if you have a home with a ton of rooms and a favorable layout to add in a couple more bedrooms and bathrooms it could work. The drawbacks are more vacancies, more phone calls dealing with people drama, and you can't individually meter each room so you will need to pick up the utility costs. Leave a comment if you got something from this video or if there is something you want me to cover in the future. Thanks!
Great info for someone who is looking into Airbnb and rentals! Also, love the video cuts and memes you use in your videos, I sense the inner Submariner coming out!
What are your thoughts on bond index funds in terms of reducing risk/volatility especially for those who are 10 years or less away from retirement? I'm also curious what your thoughts are on adding in an international index fund (for similar reasons), as well as investing in a small cap/Russell 2000 index fund.
For me the risk reward is not there for the Russell 2000 and International. You can see that in the Sharpe & Sortino ratios of thoses funds compared to Nasdaq and S&P 500. For bonds you are really just trying to lower the beta of your overall portfolio so you have less market correlation. But the returns have not been very good over the last decade for bond funds. So my personal preference to lower the beta of my overall portfolio is to just invest outside of the stock market in real estate or businesses. That advice is not necessarily advice you would hear from a finacial advisor though 🤷🏿♂️
You mention some of my favorite things in this video, DCA and pay yourself first! Good job. “Time in the market is better than timing the market” -Peter Lynch
Great Video 👍 I watched the video. Your RU-vid video is good but there are some problems in the video. You need to be fixed then your video will be exposed to millions of people. need SEO
🚀My real estate investing changed drastically once I realized equity growth was the biggest impact on my net worth. Leave a comment down below if it changed your journey!
💰I wish someone would have told me some of these strategies at the beginning of my real estate journey. I would have had a much easier time getting started. Leave a comment below if you found this helpful or have personally used any of these strategies!
Achieving your goals requires being deliberate about what you want in life. Feel free to share your goals in the comments section below!💪🏾 If anyone is looking for the spreadsheet to plan your own goals here is a link. Thanks for watching! talkhiggins.ck.page/a50baa7379
💼As your portfolio expands, the likelihood of facing litigation becomes a matter of 'when' rather than 'if.' However, when you are in the initial stages, the probability is relatively low and you don't have much to lose, so it should not deter you from starting your journey. Share a comment below if you found this video helpful!