TJs 2 Cents

It’s a windy day and the pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. What do you currently do?

I discuss how I want to CRUSH pessimism, preach realism, and discuss why being optimistic isn't terrible but sometimes can become overwhelming.

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@tjs2cents

Todays episode I give a few ways to manage your expectations, and ask a few questions that will hopefully get you thinking about why your reality may not match your expectations and how you can shorten the gap.

I give my two cents on the difference between real and fake friends. I go in to detail with how to tell the difference between a genuine friendship, and one that may not necessarily be healthy and perhaps destructive and even fake. Many of us have a desire to connect with others, and finding those with similar interests makes us feel a sense of being whole, in that we have someone who just gets us, even sometimes without any spoken words. However, the truth is, while many friendships can be intense, long-lasting, and even extremely helpful for personal growth, others can be destructive and can cause more harm than good.

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Throughout this episode I go down memory lane of technology, talk about some of the first big items and how they have transformed and how they will continue to transform. Some of the big topics I talk about are facial recognition, autonomous vehicles, 3D printing also known as additive manufacturing, crypto/block chain, and my personal favorite voice technology!

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No matter the topic, no matter your age, race, gender, etc headline readers are a cultural and society issue. The access to so much information in todays society at our fingertips just statistically means that there will be a larger amount of misinformation than that of previous times. This episode I tell you why headline readers are slowly but surely causing mayhem in our society, why you should always check the facts before sharing articles, how easy it truly is for people to run ads against particular demographics of people on social media all by using the information that you give out, and why you should never share or comment negative things because the more reactions a post gets the more it pushed to the top of your feed .

In this episode I try and explain how looking at purchases a little more in depth before buying is very beneficial and how if you can't get the financial side to make sense just stop. Too many people purchase things due to emotion or to show off for others even without thinking things entirely through. These things can include clothes, shoes, food, electronics or even things like cars, houses, boats, etc. It truly amazes me how these purchases can take place without a second thought!

Talking about some things to avoid, common misconceptions, how I think it will impact my generation more than previous generations and detail the overall impact of interest payments.

I dive in and discuss capital allocation and how you can improve your return on investments. In this episode I try and explain that investing can be in more forms than just monetary and that maximizing your capital allocation also known as asset allocation will greatly impact on how you live your life. I am looking forward to telling you guys about how capital allocation has helped investors previously, how I think it will help you and of course give you my two cents.

I talk about the goals for every decade of your life ranging from your 20s through your 60s.

20s:

Learn to live below your means

Become financially independent

Develop a retirement account/plan

Open a Roth IRA

Learn your credit score

Start paying off debt

Start an Emergency Fund

30s:

Have 1X your salary saved for retirement

Pay off all non-mortgage debt

Create a will

If a parent-get life insurance

Increase emergency fund

Start to read up on financial planning

40s:

Have 3X your salary saved for retirement

Review your financial plan

Evaluate the household budget

Diversify your portfolio

50s:

Have 5X your salary saved for retirement

Pay off your mortgage

Up your contributions to your 401K and Roth IRA

Look into annuities

Long term care insurance

60s:

Have 8X your salary saved for retirement

Social Security options

Reevaluate budget

Part Time employment /Volunteering

QUESTIONS/COMMENTS???

Contact Me:

Email: [email protected]

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IG @tjs2cents

I go into detail of the different methods investing can be implemented, and possible returns on that investment. I also give personal stories about my first couple investing experiences and the outcomes of those experiences. As a disclaimer; I want to make sure that all my listeners know that I am in by no way shape or form affiliated with any of the technologies, companies, or tools that I will talk about during this episode.

Download RobinHood with my referral link below to get a FREE Stock!

share.robinhood.com/timothf1104

Links to other resources mentioned in this episode:

https://www.stockpile.com

https://www.investopedia.com/simulator/game/creategame.aspx

https://www.m1finance.com

https://www.acorns.com

https://www.lendingclub.com