Ready to Take Control of Your Financial Future? | Phil Town

Hey guys, I'm Phil Town from Rowan, researched today. I'm going to address a question I get all the time. Hello, how can I

control

my

financial

future

and how can I improve it if you have no experience in investing? The stock market can definitely be scary and you should know that I have spent, let me see, 20 years maybe trying to convince my daughter to

take

the plunge, in fact I was so nervous about taking the first step into the market that it was basically against all my guidance, he didn't do any research, he just put $500 into Whole Foods and closed his eyes and just knowing that he was potentially going to lose the $500 and being okay with that, like going to Las Vegas, that's what which allowed her to I started exploring investing before that, it was 20 years of talking to her about what I do every day and like me I tried to get her to change a tire, she just didn't want to learn, now she has different story on this, but That's my story, so look, I don't recommend that he just walked into the market with $500, it was his way of getting his feet wet, but I want to share that story with you because you know I know better. just, that's the key thing you need to know, there are a lot of people out there like you, probably most people are like you when I was young, I didn't know anything about investing either, it's not something my friends and family are I didn't do something I once tried to learn.

I wasn't interested. He came from a working-class family. We didn't do rich people's things, but after I got out of the military I started working as a river guide in the Grand Canyon. It was a season in which the ice was broken most of the time. I made about $4,000 a year, which wasn't a lot of money even back then, and then things changed for me after one of my passengers turned out to be a really successful investor, he took me under his wing and he taught me how. make money investing in the stock market, so that was my big opportunity.

I had to borrow a thousand dollars just to get started, but within five years of following a well-known path, that money grew to over a million dollars, believe me. I thought I was super rich, which was pretty cool at the time, so I never would have thought it was possible to be there to be that rich, you know, while trying to make a living being a river guide and doing jobs like that for the last few years. years, but now my mission is to teach you, other new investors, how to do what I did because I know how much impact

financial

freedom and financial independence can have on

your

lives.

They could hardly have a greater impact the first time.

your

life, if you are financially independent, you could start doing what you were born to do, try to figure it out well so that when you are financially free you eliminate a lot of the worry, eliminate a lot of the stress from your life, believe me, I will find other things for things to worry and stress about, but it's not like financial freedom basically means that you don't freak out every time you have unexpected expenses because you can handle them. You know that financial freedom allows you to decide how you are going to live your life how you are going to spend your time with your family you want to do the things you want to do you can do everything you want to do until you get tired and then you can go do other things too until you're sick of it, when you're finally sick of it all, you'll fall into the place where most rich people end up, if they really are, you know, thinking about other people and stuff.

Do you begin to support other people in ways that are important to you? So, for example, Melissa and I love supporting therapeutic horseback riding because we like horses and that's great for kids and military veterans. We try to support the things that excite us. about the right thing, so you get excited about the

future

, it's amazing because you know you have all the money you're going to need, you're doing what you want to do for the rest of your life. Financial freedom puts you in charge of not only your finances. you in charge of your life gives you a whole new life and the goal of the number one rule of investing is to teach you how to grow your wealth so that you too can enjoy that incredible feeling of financial independence and there are a couple of variables that what you can

take

now to start improving your financial future, the first, the first is to figure out where you will be in 10 or 20 years, where you want to be, what does that look like, so if I'm 25 years old I'm looking ahead to 20 years and saying: "It's okay, I don't want to continue being forced to do a job I don't like.

In 20 years I'm willing to put in 20 years of hard work." I am willing to save my money. I'm going to keep my debts low. What I'm going to do is focus on where I want to be in 20 years. This is where it gets kind of interesting to me. You look at 20 years and let's say you just got a normal job, you can save a little money every year, let's say you save that money and apply it to the stock market the usual way people do, that is, they put They put their money into a diversified group of portfolios and invested and returned perhaps 7% annually on average over the last hundred years.

Okay, if you look at the 20 years that you're investing, let's say maybe you're saving $10,000 a year, which is would be amazing. $10,000 a year for 20 years is $200,000 and every 10,000 you save each year will compound money at, say, 7%. , so the first 10,000 you invested will double twice at 7%, become $20,000 in ten years, and then become $40,000 in 20 years, so every bit of this you put away accumulates over a period of time with some rate of return. Now the problem is when you're putting away $10,000 a year like that and you want financial independence at the end of, say, 20 years, you're going to find that you won't be able to have financial independence in 20 years, what you're going to find is that this adds up to about half a million dollars. something like that is not enough for you to retire and be comfortable because think about this right now, if you were comfortable living a $50,000 lifestyle, which is not living super rich, right, you would be independent and make fifty thousand dollars a year right now. fifty thousand dollars a year will buy a certain lifestyle in 20 years that same lifestyle if we get the same standard rates of inflation that we have had that same lifestyle will cost a hundred thousand dollars so think about this, save, you know and invest and you end up with five hundred six hundred thousand seven hundred thousand something in that range in twenty years, guess how much, you're broke in about five years, you had financial independence for five years, then you're broke because you run out of money and that's a problem that Financial advisors out there simply don't have the tools to address it.

There are no financial advisors you can turn to. There are no Robo advisors you can go to who will say yes. Make a plan that you can do fifteen. twenty twenty-five percent a year, then do it because they will tell you that you can't do it and that is the basic mentality of the entire financial services industry, so in effect what they are saying is never try to do it. figure out how to get from where you are now to where you want to be 20 years from now, don't try to do that, that's not enough time, you won't be able to save enough money, we can't help you, all we can do is get you to a miserable lifestyle, maybe you can live a $20,000 a year lifestyle with today's money.

I mean, they just don't have the tools and I don't have the mindset to give them to them. ideas about how you could approach this, so the first thing I would tell you on this journey is that you are going to have to look at the numbers and get serious if you want to do this in 20 years, you are going to have to get serious about learning something else, something that the financial services industry doesn't want to teach you, so let's move on to the second step, that's why I'm so passionate about these rule 1 investing principles, these are fantastic principles that come down to us from 89 years of great investing, starting with Ben Graham going through to Warren Buffett Charlie Munger, people like Mohnish Pabrai and I, Guy Spirit and many other people are trying to teach them what has made us rich, what has made this family of investors that we call the rule that one family won the most amount of money with any investment strategy that I know how to follow now there are some simple rules, so first remember that we will see where we want to be in a relatively short period of time, saving a relatively small amount. amount of capital we are going to have to do something different what we are going to have to do is follow a different path and there are these rules that you can follow no matter who you are, no matter what your color is, no matter what kind of money you are starting, No matter what your religion is, no matter what language you speak, these rules work and have worked for many generations and will help you decide if what you are thinking of doing makes sense and how to choose investments. that can get you where you want to go now you can start learning these rules right now guys I could show you what I did to go from $4,000 a year as a river guide to becoming a millionaire in five right?

It's a nice big leap and I can show you how you can get there too you just need to do three things you have to do three things you have to be committed that means this is not a goal this will be a promise that Make sure that you will learn that you will learn this path, so that there is a commitment you must make. Secondly, that you have inner strength, that you do not need to be carried away by emotions, that you have to be firm. I guess it's for the best. What I can say is that you have to stay rational, so you have to commit to staying rational and you have to be patient to wait for the right time to buy.

Those are the critical things: we make money while we wait. This is very important. If you want to achieve financial independence to live comfortably and have a secure future by making smart investments in great companies, Rule 1 investment strategies will be a great guide to help you increase the rate of return you will earn. I need to get there so that financial freedom is absolutely achievable for anyone who is willing to walk this path and properly learn from the best investors in the world how to earn higher rates of return with lower risk and that is what I would love to hear from you. about what steps you are taking right now to reach that date of financial independence you want, leave a comment below with your answer.

I'll be sure to follow you and thanks for watching now go play if you enjoyed this video and If you think it was valuable and taught you more about taking

control

of your financial future, just hit the like button and share this video with your friends. If you want more investment content, subscribe to my channel and don't forget to click button on the screen for a free gift thanks again for watching