Happy New Year!!!

Stimulus Bill Information:

If you haven’t heard, the Second Stimulus Checks has been passed by Congress for $600. According to an article published on December 21 on CNBC, Congress pass $1 Trillion coronavirus relief bill. The stimulus check will be $600 for individuals making up to $75,0000 and couples earning $150,000. Dependents under the age of 17 are also eligible and there is no cap on the number a household can receive. The check are said to starting coming this week with varying arrival times, but considering it took them this long to approve any package.

Berto Be Thinking Podcast Episode 5

Episode Outline: 

In 2021, our top 3 goals to:

SMART METHOD for Goal Setting:

Specific 

Measurable 

Attainable 

Realistic 

Timely 

"Everyone loves winning but the true character of a person can be determined by how they handle the loses. Reflect on those loses and improve. This is the year of crazy faith and faith is not about seeing when it’s already there but in spite of an proof that it is possible.

Investing in yourself this year. Take risks on yourself. Make a plan and revise as necessary.

Thank you all so much for this all the support."

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Music: Music Source I do not own the rights to the music used in this podcast. This song has been labeled royalty free. The produced/creditors are listed below: CFM Production https://www.youtube.com/CopyrightFree... provided by CFM: https://cfmfreemusic.com To use this free background music in your videos, you MUST credit our YouTube Channel in your video description or end credits! ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Mix & Master: Drumatised Contact producer: [email protected] Instagram: https://www.instagram.com/drumatised Buy HQ Beats: https://bit.ly/32ieRfj ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

Updates of for week:

ABC News Article Referenced in Podcast episode

Today’s topic of investing.

Foundations 

Who? What? Why? Where? When? And How?

Who? Individual investors and corporate investors.

What are stocks? Companies issue shares which gives you partial ownership of their company. 

Why? To make money.

Where does this happen?! At a stock exchange. The NYSE, NASDAQ, London Stock Exchange, Shanghai and so on.

When? The NYSE & NASDAQ: 9:30am- 4:00pm EST weekday.

How do you participate?... stocks aren’t things you can physically touch even though they are your claim to ownership. In order to trade you need a brokerage account such as Robinhood, Fidelity, Vanguard, etc etc. I use Robinhood, Schwab, and Stash. 

I’m not sponsored by any of them but I do have a referral code.  If you sign up for Robinhood, they give you a free stock and I get a free stock. Stash gives you $20 to start investing. 

Misspoke: Episodes are every Tuesday.

Follow on Social Media: Instagram | Facebook | Twitter | YouTube | Website 

Music: Music Source I do not own the rights to the music used in this podcast. This song has been labeled royalty free. The produced/creditors are listed below: CFM Production https://www.youtube.com/CopyrightFree... provided by CFM: https://cfmfreemusic.com To use this free background music in your videos, you MUST credit our YouTube Channel in your video description or end credits! ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Mix & Master: Drumatised Contact producer: [email protected] Instagram: https://www.instagram.com/drumatised Buy HQ Beats: https://bit.ly/32ieRfj ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

Lifestyle and Legacy  

The truth is when it comes to how much you should save, invest, and/or spend it really depends on your lifestyle and the lifestyle you would like to live now and once you retire. You might be able to survive and thrive off $20,000 a year while someone else desires $100,000 a year. There is no right answer for your life. Yes, there are industry standards and guidelines. There is sensitivity analysis that can be performed and Monte Carlo Analysis.... but most of us probably don’t have financial planners in our early 20s or know what these terms mean. I know I don’t, so it is up to us to maximize the knowledge we do know. Do our due diligence, read and research things you are curious about. If your goal is to retire with a $100,000 lifestyle and you plan to retire at the typical age of 60something and draw from your assets at 4% you will need approximately 2.5 million dollars which does not account for inflation and other factors. Are you planting seeds that will enable you and the next generation to eat forever or as you sowing seeds with no fruit? Social Media Handles: https://linktr.ee/wenevabroke IRS Links 

If you did not: file a 2019 federal tax return, get an Economic Impact Payment, register for an Economic Impact Payment already. The deadline is November 21 at 3pm eastern standard time to request your economic impact payment also known as the stimulus check. 

Important IRS Links: 

Stimulus Check 

Non Filers Enter Payment 

Music Source I do not own the rights to the music used in this podcast. This song has been labeled royalty free. The produced/creditors are listed below: CFM Production https://www.youtube.com/CopyrightFree... provided by CFM: https://cfmfreemusic.com To use this free background music in your videos, you MUST credit our YouTube Channel in your video description or end credits! ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Mix & Master: Drumatised Contact producer: [email protected] Instagram: https://www.instagram.com/drumatised Buy HQ Beats: https://bit.ly/32ieRfj ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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NevaBroke Episode 2: Budgeting

Having a plan for your money is essential. This is what budgeting or a budget is...A PLAN for your money. It is critical that we understand our income and our expenses. What are the fixed expenses you have (i.e.rent, car payments, utilities)? What are your variable expenses (i.e.travel expenses or entertainment expense)? Are you budgeting "fun/entertainment money". Having a plan for your money gives you the power to know where your money is going and it also enables you to have a document to analyze which ultimately gives you more power to make decisions about where you want your money to go. As you grow, your budget should grow with you. You should continue to practice utilizing this tool not only to build your wealth but maintain it. 

Budgeting Steps:

1. Take note of all your income

2. List your expenses (fixed and variable)

3. Cut the "fat" or excess- these are the things you do not use or need like the gym in my situation 

4. Set a goal and plan for your money (Would you like to develop an emergency fund? Pay off your debt? and so forth?)

If you have no idea where to start, use the link to the google sheet below. 

Download Google's Sheet Free Budgeting:

Before I created my own customized budget sheet, I use utilized this template in Google's Sheet. It is a great starting point and provides a visual aid.

https://docs.google.com/spreadsheets/d/1x6B4nKe43NG1dOnDJjz2J_X1cYcwf_zLwGMSNzFfGC4/edit?usp=sharing

Thank you for listening to another episode.

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