How to Build Your First $100K (The 3-Account Rule)

0:00This is an iHeart Podcast. Guaranteed Human Earners, what's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partnered with Empower. Empower is all about helping you invest well so you can go out and live a little. Their free Empower personal dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals, and more. You've worked hard for your money. Now make sure it's working hard for you. Download the Empower personal dashboard or visit Empower.com.

0:37Not an Empower client paid or sponsored.

1:00and access to work and codecs in ChatGPT. This means your business can move from question to answer and code to rollout quicker. Join over 10 million business and enterprise users worldwide already using ChatGPT for work. Download the ChatGPT desktop app or contact sales to learn more. They don't realize smart people use smartphones, huh? Send through BS they thought was gonna slide. Download TextNow because it cuts out clownery. You can literally activate it from your couch. nationwide 5g with the same towers the other companies use pay what you want or not at all you're in control show these ridiculous carriers we ain't paying for stupid because we're way too smart to pay dumb free app-based talk and text via the text now app requires wi-fi or data connection data plan sold separately 5g where available when traveling for events or festivals throughout the country every dollar matters we compare flights prices hotel rates and restaurant route options so why wouldn't we compare rides personally i always check lift before booking a ride prices can change throughout the day depending on traffic weather and what's happening in the city if you're headed to a concert out to dinner or catching up with your friends on a friday night taking a few seconds to check lift could leave you with more money to enjoy the experience save money check lift absolutely not um new etf alert new etf alert i want y 'all to write this down put this in your notes, I feel like we're about to have another moment.

2:29And if you've been watching ETFs, I was listening to Josh Brown. They were talking about ETFs and the amount of ETFs that have come online in the past six years. I had no idea. Right. So I think in 2021, there were 206 ETFs in existence. Last year alone, 960 were created. And this year they said that they're going to past that number. So you're talking about over 2000 ETFs in the past three years, which tells me index funds and mutual funds, that's going to be tough. That's going to be tough because these more products are being created. But the new ETF that I'm looking at, and it's something that just came online on August 6th, goes back into the story where we were talking about this AI infrastructure space and the idea of how information and data is going to travel.

3:19You picking my baby? Am I? I don't know. We're talking about photonics. And so photonics really just means how data is using light to transfer data, which makes it a lot faster, more efficient. And that is where it's headed in terms of data transfer inside of the actual data centers. So if you look at NVIDIA, their partnership with GLW, Apple's partnership with GLW, which is corning for those not in the know, if you watch what uh nvidia has invested in in terms of coherent in terms of momentum those companies are leading now we saw a correction in that space so like under the story of memory being corrected we saw the photonic space be corrected and now quietly it's kept we've watched them rebound now nobody's talking about it but if you look at what lumentum's done ticker is l-i-t-e L-I-T is the ticker.

4:13It's rebounded here, right? We're going to retest 1 ,000 very shortly. Coherent, I just told you about how it reported and how time, you know, if you were trying to get these dailies or you're trying to get the weeklies, it didn't work in your favor. Coherent closed at 351. It's going to test its all-time highs. And so some of people looking like, hey, I missed the boat. These stocks are pretty high. Well, they just created a Photonics ETF, right? Write this ticker down, L-Y-T-E. L-Y-T-E. Why is that important? For the same reason when I was telling you about DRAM, when you said Sanders has run, we can't afford it from an individual standpoint.

4:51And Micron has run, we can't invest in it from an individual standpoint. This now gives you an allocation to a space that is going to lead, it is necessary inside of the AI infrastructure, specifically the data center space, to how information will be transferred. Number one, more efficient, number one, faster. Number two, faster. Yeah, way faster. If you're looking to have exposure to the photonic space, because yeah, to invest, there's so many companies, Troy, and number one, I look at, hey, what is NVIDIA invested in? What's in the fund? Who are they spending with? Right? If you look at that, sometimes they have that pie chart of the companies they're investing, look at them.

5:34Synopsis, Cadence. We've talked about that in detail. Coherent, Lementum, even SpaceX now. There's a reason why. Now, you could say circular economy, but they are protecting their interests and they become the central bank. So they're loaning out the money and they're loaning out the product and they're getting return on investment. This is a sector, subsector really, that we need to make sure that we're involved in. And if you feel like, hey, I got so many individual equities. I don't know if I want to pay$900 for light. I understand the story, but the other opportunities, this will be an opportunity, just like when we talked about GEV in terms of energy, and we talked about caterpillar this will be a sector and this is an etf that you should have on your watch list and potentially potentially maybe make a call on l-y-t-e don't say you heard it anywhere else you heard it here it just opened last week all right let me put it on your watch list we're both thinking the same thing it just expressed it in different ways that invest fast i talked about ev that's all you yeah so i i like it if we get back down to 21.39 i like that for entry.

6:41But I definitely agree. Some of the companies are so phenomenal. They are pricey, though. So if you want a cheaper way to do so, I think for those of you who are asking, hey, I need two more or one more to invest in, you can't go wrong with L-Y-T or my selection at EUV. Great miles think alike. EUV is the thing. Damn, the 500 people missed out on Photon. They ain't here. They ain't here. It's alright. It's alright. They're gonna be like, yo, yo, they're gonna wait till they see it on Instagram. It's gonna be the voiceover. You know what the next ETF is? Quick one before you jump back in. You're listening for ways to help teams move faster, make sharper decisions, and turn scattered context into work they can use.

7:21ChatGPT for Business can help. ChatGPT for Business gives teams a shared workspace with admin controls, permissions, and access to work and codecs in ChatGPT. This means your business can move from question to answer and code to rollout quicker. Join over 10 million business and enterprise users worldwide already using ChatGPT for work. Download the ChatGPT desktop app or contact sales to learn more. We talk a lot about ownership and one of the most important assets you can own is your digital real estate. Too many entrepreneurs rely on social media platforms they don't control. Your website should be the center of your business.

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9:26Built points can be redeemed at top airlines and hotels, amazon.com purchases, future rent payments, and more. Built points have also been ranked by top publications as the industry's most valuable point currency. Your housing payment is already your biggest expense. Make it your most rewarding. Find the card that fits your lifestyle and apply today at joinbuilt.com slash leisure that's j-o-i-n-b-i-l-t.com slash leisure make sure you use our url so they know we sent you terms and limitations apply subject to approval and eligibility built cards are issued by column n-a member fdic pursuant to license from mastercard international incorporated they don't realize smart people use smartphones huh Seeing through BS they thought was gonna slide.

10:15Download TexNow because it cuts out clownery. You can literally activate it from your couch. Nationwide 5G with the same towers the other companies use. Pay what you want or not at all. You're in control. Show these ridiculous carriers we ain't paying for stupid. Because we're way too smart to pay dumb. Free app-based talk and text via the TexNow app. Requires Wi-Fi or data connection. Data plans sold separately. 5G where available. No, they gonna be the people on Instagram be like, Y 'all never give any value. Y 'all only wait till things go up for you. That was the older you. The newer you is really focusing on the people that are here taking advantage of this moment.

10:53No, 100%. Seven financial moves before 40. I'm going to say seven because I've seen this question online. And I'll let everybody chime in if you're interested. But real quick. All right. If you're not 40 yet for the young world out there, you're in your 20s, you're in your 30s. definitely got to have three to six months of an emergency fund because that's important. I always tell people, even before you start investing, you got to learn to save money. Anything can happen. The average person, I think, is like probably a couple paychecks away from really being in a financial disaster. Damn, they're homeless.

11:28So, man, the job market is crazy right now. Nothing is certain. So learn to save. Be disciplined. You create a budget, learn to save, put money away, three to six months for expenses. Try to eliminate high interest debt, credit card, credit card especially. Try to eliminate that. We've got shows on how to eliminate that snowball method, all types of different stuff, but try to eliminate high interest debt, stay away from high interest debt. All debt's not bad debt, but high interest credit card debt is bad debt. Maximize your retirement accounts. If you have a 401k at your job, contribute to the match.

12:11Roth IRA, IRA, we got a bunch of videos about that. If you're a business owner, there's a SEP IRA, simple IRA. Put money away for your retirement. It has, especially if you're not doing the Roth, you're going to get a tax benefit from it. If you are doing the Roth, you won't get a tax benefit, but it's going to be tax-free money down the line, which none of your other money will be tax-free. That's the only money that you won't have to pay taxes on. Build your first $100 ,000 portfolio. That should be your goal, to get to $100 ,000. The first before you first goal is to get to$10 ,000. Get to$10 ,000, then you get to $100 ,000.

12:47Then you start to play. Once you get to$100 ,000, now you got momentum at your back. The first thing you got to do is get that$100 ,000. Whatever you got to do, you got to stay home for two years. if you just get to the 100 ,000 it's going to put wind behind your back and then you're going to start to really get in your groove that's the number too, I'm glad you said that 100 ,000 so man SMH, I made a lot of money on SMH, QQQ I've been talking about QQQ for so long, you know you got the S &P 500, you got VO, VTI put together your portfolio put together your portfolio stick with your portfolio be focused on your portfolio focused on what you invest in get to that$100 ,000 that's vitally important dollar cost average every single month dollar cost average I can't say this enough dollar cost average figure out how much money you can put away and put that away every single month when you get to tax refund put that money into the market get$100 ,000 get your$100 ,000 get life insurance for sure my entrepreneurs are special vital okay this is vitally important because you're healthy 9 times out of 10 your health is not always going to be there anything can happen when you're young the premiums are lower and you're healthy so you can get it even if you don't have a family get insured, get life insurance get disability insurance, get insured that is very very very important create a will and a state plan once again you can always change it you can update it the earlier you do it the better and the last thing I'll say is create a budget for sure I'll say two create a budget budgeting is the most underrated thing when it comes to financial even if you're rich live within a budget create a budget and also create your financial freedom number that way that you have something to work towards we need as human beings we need goals to work towards if you have a number put it on your ceiling put it on your phone have it as your screensaver and just every single day look at that number because psychologically that's going to force you to work harder make sacrifices be more disciplined yeah i'm sorry yeah somebody asked a question i thought it was a really good question it said what's the difference between e uv the etf and lyte um both are light based manufacturing i think you would think of it in terms of what's the difference between smh and dram right where like smh has a lot of the semis it has nvidia has tsm it has broadcom it has micron it has texas instrument has amd so it's a broad range where dram is very specific to memory where it has SK Hynix, it has Samsung, it has Micron, SanDisk, Seagate, and Western Digital all inside of that.

15:55So when you think of EUV, light base from the manufacturing standpoint all the way down. So TSM leads that in terms of allocation. You got ASML, applied materials, LAMs in there, KLA, Corning's in there, and then Lomentum, you'll see them at the bottom, like Sienna's in there, coherent. Inside of light, the top three, Lumentum, Coherent, Sienna. All right, so it was very hyper-focused specifically on photonics inside of the EUV lithography machine light manufacturing companies. So just a couple of different. Before you sign off, you tuned in for ways to help teams move faster, make sharper decisions, and turn scattered contexts into work they can use.

16:41ChatGPT for Business can help. ChatGPT for Business gives teams a shared workspace with admin controls, permissions, and access to work and codecs in ChatGPT. This means your business can move from question to answer and code to rollout quicker. Join over 10 million business and enterprise users worldwide already using ChatGPT for Work. Download the ChatGPT desktop app or contact sales to learn more. Ernest, what's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partnered with Empower. Empower is all about helping you invest well so you can go out and live a little.

17:19Their free Empower Personal Dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals, and more. You've worked hard for your money. Now make sure it's working hard for you. Download the Empower Personal Dashboard or visit Empower.com. Not an Empower client paid or sponsored. When traveling for events or festivals throughout the country, every dollar matters. We compare flights, prices, hotel rates, and restaurant options. So why wouldn't we compare rides? Personally, I always check lift before booking a ride.

17:56Prices can change throughout the day depending on traffic, weather, and what's happening in the city. If you're headed to a concert, out to dinner, or catching up with your friends on a Friday night, taking a few seconds to check lift could leave you with more money to enjoy the experience save money check lift everyone's talking about how ai is transforming work especially in sales while the landscape shifts one thing remains the same the thrill of closing a deal whether it's a gong or a confetti machine every team has its celebration rituals adio is designed for that moment it's the agentic crm that turns customer signals into actionable insights helping you close deals faster with revenue agents and automations working around the clock.

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