Daniel Iles

83% of millennial millionaires own crypto. Correlation or causation?

Investing $10/day & having almost $1,000,000 in 40 years is way more cool than investing $0/year regretting it.

People out here spending $100/ night on drinks and laughing at people who buy JPEGs

Investing 30% of your paycheck is difficult Working until 65 is difficult A side hustle in real estate is difficult Relying on on one source of income is difficult Choose your difficult

Last year an average savings account paid 0.06% APY (FDIC) Last year inflation was 7% (BLS) You cannot build wealth in a savings account.

To someone who has never worked out, running a mile is TOUGH 🏃‍♂️ To a marathon runner, 3 miles is a warmup 💨 To a new investor, buying a duplex is TOUGH 😰 To a seasoned investor, two new units is a slow month 💰 Everyone starts as a beginner, keep going

If personal finance was a required 1st semester college course, 2nd semester enrollment would probably drop. Imagine telling your customers they are paying with a decade or more of debt.

Want a free $1? Put $10,000 into a bank account and wait 1 year. That’s the average interest rate banks pay (.01%, Bankrate 2022)

A Lexus lifestyle on a Toyota budget is moving you further from your goals. People with a wealthy mindset are not impressed by the flex.

Almost all of my income today comes from investments & work done 4+ years ago.

“Investing 20% of your income isn’t reasonable for the average person because XYZ” True. But it will allow you to retire decades earlier than your peers. That is FAR from reasonable for the average person.

Real Estate Tax Loophole: Buy & live in a home **worth** $300k After 10 years it’s now **worth** $550k If you sold you would pay 0% tax on $250,000 of profit (principal residence exclusion)

A 8% raise on a 50k job is $4,000 A 8% return on a 50k portfolio is $4,000 You don’t have to work any harder to get the second one.

If you invest $600/mo, it will take you 10 years to get $100k. But will only take you 5 **more** years to go from $100k to $200k. Compound interest does the work for you, you just need to invest.

Big Hack to spend less: Consider something you recently purchased. If you had to sell it, what’s the least you would accept? Not spending $100 on something you value at $10 will save you thousands.

If you have $1 million dollars inflation is currently eating $75,000 per year.

How to AVOID TAXES in retirement: 1. Earned income stops 2. Move to a no income tax state 3. Keep brokerage withdrawals under $83,350/year Long term capital gains for this married filing jointly couple is 0%. Straight profit, no tax.

The difference between investing $500/month starting @ age 25 or waiting until age 30 is $354,201 by 60 (8% return) Every single month you delay investing on the front-end, you give up tens of thousands on the back-end.

THE SECRET TO WEALTH: Start investing at 25 Invest $450 every month Retire a millionaire at 60

Your first $100,000 is the toughest. Every $100,000 after is exponentially easier.