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How much money should you give your kids?
Focus on supporting them with:
1. Education
2. Building a career
3. Aged-based trust for house deposit, marriage, babies, used car.
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50/30/20 budget tool
50% on needs (rent/mortgage, bills, transport, health, food)
30% on wants (takeaways, entertainment, holidays, shopping)
20% on saving
What is your ratioβ
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Lifestyle inflation is when your spending rises as your income grows
Try to stick to a budget: 50% on needs, 30% wants, 20% saving/investing
Have you experienced life style inflationβ
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Stages of money:
1. Accumulation - 20s to 50s. Wealth building
2. Preservation - 50s to 60s. estate planning
3. Distribution - 70s+, withdraw from your pension
What stage are you atβ
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How to pay off your mortgage faster?
1. Pay more each month
2. Make mortgage payment every two weeks
3. Pay an extra lump sum
4. Have a shorter mortgage term
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Try these money saving habits:
- Discount apps
- Avoid impulse shopping
- Delay purchases
- Cancel unused subscriptions
- Make a food shop list
- Public transport/cycle/walk
- Save 15% of income
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How to save Β£10k
1. Develop a positive money mindset
2. Pay off high interest debt
3. Limit spending
4. Create budget
5. Automate saving
6. Increase income
What do you need to focus onβ
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Worldβs largest companies by revenue:
1. Walmart $713 billion
2. Amazon $637 billion
3. State grid corporation of china $545 billion
4. Saudi Aramco $480 billion
5.
6.
7.
8.
What stocks do you invest inβ
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Worlds richest
1. Elon Musk $839 billion
2. Larry Page $259 billion
3. Sergey Brin $237 billion
4. Jeff Bezos $224 billion
5. Mark Zuckerberg $222 billion
6. Larry Ellison $190 billion
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Since 2008, a big shift has occurred from active to passive investing.
The industry is dominated by:
- BlackRock
- Vanguard
- State Street
What company do you use for investingβ
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Who holds the most bitcoin?
1. Satoshi Nakamoto (the bitcoin founder) has 1.1 million Bitcoin (worth around $77 billion)
2. Coinbase holds 982k.
3. BlackRock holds 775k.
4. Binance holds 655k.
5. Fidelity holds 460k.
6. Microstrategy holds 443k.
7. US Government holds 328k.
Which countries have the Largest Gold Reserves?
1. United States: 8,133 tonnes
2. Germany: 3,359 tonnes
3. Italy: 2,452 tonnes
4. France: 2,437 tonnes
5. Russia: 2,327 tonnes
6. China: 2,191 tonnes
How much gold is in your portfolioβ
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Average UK bank savings account by age:
1. Aged 25-34: Β£9,367
2. Aged 35-44: Β£7,434
3. Aged 45-54: Β£13,328
4. Aged 55+: Β£27,949
How much should you try to save for retirement:
1. Aged 30: Β£51,434
2. Aged 40: Β£124,9111
3. Aged 50: Β£198,390
4. Aged 60: Β£270,100
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1. Myth: Investing is complicated. Truth: Itβs easy if you buy & hold passive index funds.
2β¦
3β¦
4β¦
5β¦
What money myth have you learnt recently?
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Saving Β£100K can be hard after years of saving.
Saving your next Β£100k is easy. It takes half the time due to the power of compounding.
What are your savings goals?
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βIf you want to get rich, the secret is to save your first Β£100kβ¦ from then onwards it gets easier.β
Charlie Munger - vice chairman of Berkshire Hathaway.
What is your plan to get to Β£100,000?
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1. Sonys first product was an electric rice cooker.
2. β¦
Everyone has to start somewhere, just get started.
What personal finance goal are you working towards this year?
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Ways to become a millionaire:
1. earning more
2. Invest
3. Keep learning about money: get a mentor
4. Master people skills to get to a high salary.
5. Spend less
Which option is the bestβ
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The wealthy accumulate assets to provide income to pay for expenses
The poor use their job to provide income to pay for expanses
Assets like stocks, property or gold or build a business.
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Where do millionaires keep their money?
1. 47% in Stocks
2. 17% in Real estate
3. 15% in Private companies
4. 8% in Alternatives: Art, collectibles, crypto, etc
5. 13% in Cash/bonds
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