Oh no, I’ve got to keep on moving. So I was in my SUV listening to the Sirius XM
service and this song came on by Puff and Mase.
A mood comes over you when you hear certain songs and this song made me
feel some type of way.
First, it served as a reminder that we collectively are not
getting any younger so don’t be held down by things in life. Need proof, this great song was being played
on a new station they were debuting: Hip-Hop from the 90s-2000s. Ha! My favorite songs are now playing on an
oldies channel.
Second, it’s a reminder to get your mind, health, wealth,
and spiritual core in balance. I stepped
away from blogging for a while because life threw me an upper-cut harder than
the ones thrown by Mike Tyson or Floyd Mayweather. The loss of my father this year knocked me
down but his well-lived life and legacy serves as a reminder for me and also hopefully
for you to NOT BE HELD DOWN.
Third, live your life to the fullest and build a legacy you
can be proud of. Towards the end of
college, I remember setting a goal with a few friends that we wanted to retire
by the age of 35. I joke that I am Middle-America retired, I’ll explain
shortly. I recently learned that Wall
Street likes to describe many of us as a “HENRY” – High Earning Not Rich Yet
individuals. So being a HENRY and coming from a humble background has allowed
me to evolve and change my target goal over time. While, I still worked towards
the goal of retiring by 35, I realized that I didn’t live for myself anymore. I
live to build, provide, and teach my family and friends about the importance of
economic security and social awareness so that for generations to come we can
overcome the obstacles that life will indefinitely throw at us. Did I reach my goal? I can definitively say that I have and now
it’s time to lean in and assist you on your journey:
Goal 1: Be Middle
America Retired – Remember, your family’s humble beginnings. Start modestly
and set a reachable goal: For example, having enough income to buy a home in
your parent’s neighborhood with the income from your investments but still
having enough saving to never work again.
Goal 2: Debt Free
– Eliminate debt from you and your family’s life. Just like Kanye, I’m tryna
stay recession free…and the biggest pitfall people have during recessions is
usually with debt. My buddy Warren Buffet is a fan of this rule too and DOES
NOT like to buy stocks on margin (i.e., with debt).
Goal 3: Savings (6 -
12 months of Salary) – You need savings for life emergencies and they will
come. Anticipate car break downs, hospital bills, house repairs, and a cushion
against job loss.
Goal 4: Multiple
Streams of Income – This is one of the most critical areas if you are a
HENRY. Be ready for what made you a HENRY.
Capitalism!! Corporations unfortunately have one master…and that’s the stock
market. So if they have to deliver a good quarter or more money back to
shareholders…they will cut jobs and close plants and yes that includes the
HENRY’s. Don’t get it twisted, they call
it “synergies”. When I buy my competitor’s company…I make money by eliminating
all of the duplicate jobs. (What do you think will happen now that Charles Schwab
just bought TD Ameritrade? I heard
estimates that up to 30% of the workforce could be cut.
Goal 5: A Balanced
Core Gives You Freedom – Focus on family, go on trips, change jobs, start a
business wisely, and get off of social media and actually build meaningful
relationships. Why because you have planned, sacrificed and have flexibility to do it.
How do you get there, build up your pillars:
· Spiritual – Be grounded in something, when life rocks you…you need beliefs and a community to turn to; Volunteer and give back…trust this will make you feel good
· Financial – Economic security creates the ability to provide for you and your family. Find work that is fulfilling but more importantly solves a problem for others. If you had to advertise your personal skills would I hire you over the next person? Buy assets that appreciate, can be passed along, and that do NOT create additional debt. Diversify your income – do you have a retirement account, investment account, rental income, and a side hustle. If yes, Can’t Nobody Hold you down
· Health – Don’t let bad habits keep you down. A strong core should allow you to hopefully enjoy your hard work for years to come. But remember life is precious, so you must work hard to prolong it
