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  • Writer's pictureKris Krohn

8 Financial Tasks To Do Before You Turn 30

If you want to achieve financial freedom, there are some things you need to check off of your list first. If you want a better financial life, here are 8 financial tasks to do before you turn 30.

If you wanna be successful in life, you've gotta line up your financial ducks. Today. On this video, I wanna share with you eight financial tasks that you should complete by the age of 30, and it's gonna set you up for a way better financial life.

Before I share these eight with you, I do want you to understand what's in my brain and why I do what I do. I want you to understand that I'm super biased and it's all towards you becoming a multimillionaire. And a lot of people think that that's a lot of money, but in my experience, millions of dollars is not a lot of money.

And with today's technology, it's way easier to create than ever before. But not if you're just leveraging society's boring, lame game plan of like work for somebody else for 40 years. So instead, what I wanna do is I wanna share with you my eight financial tasks that can set you up for a brilliant financial life.

And many people watching this video are under the age of 30. So I wanna share with you eight things that you should do before you turn 30. Okay? The first thing that you should do before you turn 30, number one is you have to have a million dollar game plan.

Now that may not be because you wanna be rich, but that is because $1 million at 10% equals $8,000 a month residually. And the reality is $8,000 a month is not a lot, but it's a hundred grand a year and that's enough for people to live comfortably.

Now by the age of 30, you don't have to have made a million dollars, although I can show you how to do that. More importantly, it's that you understand you need to have a game plan. If you don't have one, then you're following society's plan. I'm telling you right now, that plan is gonna lead to crazy disappointment.

One of these days, you and I we're gonna be down in the grave and what we built in this life may not matter that much anymore to us, but I'm telling you that that graveyard, it is filled with unfulfilled dreams. It's filled with broke people, it's filled with people that never amounted to much because they never had a plan.

No plan, no plan means you plan to fail. So number one, have a million dollar game plan. If you don't have one of those, check the link in the description and I'll actually give you my million dollar game plan for free. So you can check the box and say, Hey, I got it. By the way, if you're over 30, you can still play catch up. It's okay. Number two, pay yourself first.

Now, if you're watching this video and you're young, I may have caught you in time that sometime between college and getting a job, you realize, oh my gosh, after college I get a job and I start making a lot more money.

And what I wanna invite you to do is to make sure that you are saving a lot of that. Because remember, in college when we were poor, we were living off of very little money and and and ramen noodles.

Just because you're making a lot more money doesn't mean you should spend it all. So I wanna invite you to actually create a concrete before you're 30, before you're into like marriage and family and kids and commitments, I want to challenge you to save 30% of your money.

I want you to pay yourself first 30%, which means that when you step up into a way better, bigger career and a better career, that you actually don't just increase your lifestyle. Actually save that. And I wanna share with you why. If you're the average Joe out there just making $50,000 a year, and if you save 30% of that, that happens to be $15,000.

And that's important for what I wanna share with you. Next. Item number three, I want you to take the money that you're paying yourself and I want you to put 80% of that money into real estate. Now, 80% of that $15,000 a year that goes in, guess what? That's $12,000.

Do you know why I want you to put $12,000 of that into real estate every single year? Because if your real estate, this is important, I want you to really get this 'cause I'm really bringing it home right now. If your real estate is earning an annual ROI of 10%, then in 23 years you'll have a million dollars.

If you're actually, if, if you're in my private real estate investors club and you're doing 20% more plus a year when you're doing 20% on real estate in 15 years, just under 15 years, you'll have a million dollars.

Now, by the way, I show people how to do it a lot faster than that. That's kind of like for the long haul. But you know what? Before you're 30, if you have a million dollar game plan, you are setting an aggressive amount of money aside and putting it into real estate.

Then the reality is, when you're still young, when people haven't even started planning for retirement, you've already made a million dollars, which means what? $8,000 a month residually. You can quit that job or you can do just have more money in the bank or accelerate and go faster and do what you want with your life.

Number four, you're young. You could buy a lot nicer car when you're single and just outta college. But what I want you to do is I want you to delay gratification on the car. I want you to buy half the car that you normally could.

Okay? You don't have to have a Lexus or a Mercedes. I mean, for some people that's ego and that show off. And I'm not saying you can't have those nicer things, but I'm telling you that when you're young, go be smart. Go be brilliant.

Go take that money and be the freaking smart person that says, I'm gonna invest the difference on that money that I'm saving and I'm gonna grow into something really amazing. Do this before the age of 30. Create a pattern for your life and then guess what?

Then you can drive Lamborghinis and Ferrari's and have the nice stuff later instead of never having them ever because you settled for a a Lexus today. When instead, what you gotta be doing is delay gratification on that car. And number five, your lifestyle on your house. Buy less house. I want you to lower your lifestyle.

Just because you make $50,000 a year doesn't mean you should spend 50,000 a year. If you're making $120,000 a year, that doesn't mean you should spend $120,000 a year. That's Parkin's law. That's what unconscious, untrained financial people do. Subscribe to this channel and fill your head with financial smarts so that you can do these tiny little things on the side and totally set yourself on a total different track record for where you want to go.

Number six, this is really important. Despite what people have told you, I want you to get three credit cards and I want you to keep them paid off. Now, there's a lot of misperceptions about what to do with your credit and how to actually train yourself in life. But here's what I want you to understand. Credit is really important. I get millions of dollars in debt from taking the bank's money, and I put it into assets that produce all of this money for me.

And so I let other people's money work for me. It's called O P M, other People's Money. And the only way you're ever gonna get significant amounts of O P M should you ever want it one day is if you first can show responsibility with three really basic stupid credit cards, it's gotta be three. 'cause some banks won't work with you if you only have two.

You gotta have three lines of credit that revolve. That's three credit cards. Now, I'm not telling you to go into credit card debt. What I want you to do is buy your groceries and get your gas, and I want you to put a couple hundred bucks here, here or here, and then pay it off every single month. Keep it paid off. You gotta have that track record for at least two years before a bank will take you serious.

So that's why number six is I want you to get three credit cards and I want you to keep them paid off. Be super responsible with your debt. Number seven here is actually really big. This is something that can set you up for crazy success. I want you to buy two homes that you live in, meaning with the bank, you can put 3% as a down payment, which is small.

On a $200,000 house, that's like $6,000. That's small amount of money. I want you to buy a house and if you're single, get some roommates, have them pay the mortgage. But then in two years, what I want you to do is I want you to move out and do it again.

Now, I get it, some people are like, oh, moving is the worst. But that first house becomes an investment property and if you bought it appropriately, you can rent it out and now you're making a cash flow or you're doing my lease option system, you're making $500 a month, five grand up front and tens of thousands of dollars when you sell it.

Here's what I'm telling you, become an intentional investor instead of an accidental investor. When you're young, you're gonna buy a house, and then when you get serious about life, you're gonna buy another one.

I'm just telling you to do it a little bit different so that you can do it intentionally. Buy a house that would make a great investment property. And besides dude in real estate, you normally gotta put 20% down. It's like 40, $50,000 here. Banks give you a little shortcut. You can put six grand down and come into a house.

That's why I want you to pay yourself first. I want you to put it into real estate. We're gonna freaking set the world ablaze. It's gonna be awesome. I want you to plan before the age of 30 to have two houses and you can qualify for them. If you have got good credit and you got a basic job outta college, you can buy that house, live in it two years later.

Don't sell it, rent it, keep it, and become a real estate investor. Meanwhile, live in the second house. And number eight of all of these, I've have saved the best for last. It is the thing that has impacted my financial future more than anything else that I've ever done. And before I tell you what it is, I want you to know something.

If you're liking this information and you're like, oh my gosh, Chris, this is really great, but how? How do I make 10 and 20% on real estate? Or how do I know how to do some of these things? Well, I've set up my company in a way where I mentor people and I actually help and teach them how to make great amounts of money.

And so if you click the link in the description below, you can actually read about what it would look like for me to mentor you and then actually set you up on a track that whether you have a 15 year game plan to be a millionaire or whether you have a two year game plan to be a millionaire, do, that's up to you.

But I've got the knowledge, the know-how, the skills, the tools, the team to get you there. So that's something that you can do, which leads me into number eight, which is you need to get a millionaire mentor. Doesn't mean it's gotta be me, me, but you have got to surround yourself with people that are financially successful because if you don't, you'll surround yourself with your peers.

We always surround ourself with the people that are like us the most. We always surround ourselves because that's where we feel safest and the most secure. Those are the people that will validate all my insecurities, my inadequacies, and the things that I do well. So instead, what I want you to do is I want you to get a financial mentor.

And I'm not talking about a friend that does well or a parent that's been a good saver. I'm talking about someone that is already a bonafide millionaire. They think different, they act different, they quack different, they talk different. They look at the world different. Here's the coolest part about this entire eight things before 30. This doesn't have to be your career.

This is Just managing the way that you make your choices and altering The way that you think. So If you're committed to doing these eight things, I'm gonna tell you Right now, you're gonna set yourself up that when you're in your forties and fifties, you can look back and say, oh my gosh, I'm so glad that I followed that advice.

If I never see you again, it's gonna be brilliant for you. But if you wanna optimize it, if you wanna maximize it, if you wanna see how far the rabbit hole goes, then click the link below and let me take you on a journey. They can get you where you want to go. Hecka fast.

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