It's been a while, but I'm back, my UPA peoples! I'm going to share a very powerful technique with you on how to buy a house and pay off your mortgage, buy a luxury car (I'm talking $50,000 luxury car) and pay off the car note, all in a matter of 6 years or less! This is only an example. Use different numbers to fit your personal needs (your income, your side hustle monthly income projections, etc.).
"What!? Are you stupid or something?"
Absolutely not! All it takes is an extra $1500 a month. Where are you going to get that from? You should do your best to come up with a side hustle that requires just a fraction of your time while you still have your 9 to 5. This is just starting off, so don't feel sorry if $1,500 a month is all you can make. You're going to see how powerful this technique really is with just an extra $1,500 a month that you don't even need to touch after you've paid your bills and bought the things you currently enjoy.
When we think of investing, we think of stocks, bonds, mutual funds, and real estate. So what do we do? We take our life savings; "gamble" our money away on an investment we think is going to make us some money. We get the investment, and then we lose the money we've been saving for so many years. Our heart is in the right place, but we are going about things the wrong way. I'm going to share the most important investment you can have in your wealth-building arsenal. It's called a perfect FICO score.
The reason a lot of African-Americans can't build wealth is partly racism, and a big part (one part that we can actually prove) is credit. You walk into a bank with a perfect credit score; the bank is going to have to do a lot of explaining if they deny you for a loan. So don't give any bank the ammo to deny you. A good credit score of about 700-850 will let you swing your financial "dick" around like a horse. What I'm going to share with you is …