FINAL

Question 1

Avg care note length

Answer 1

6.5 yrs

Question 2

your car note

Answer 2

3 MAX

Question 3

Market growth

Answer 3

7%

Question 4

Credit card IR

Answer 4

18%

Question 5

emergency fund

Answer 5

3-6 months expenses

Question 6

make money from appreciation?

Answer 6

Yes

Question 7

Avg. car pmt in America

Answer 7

$523 - all time high

Last year - $478

Question 8

significance of 20’s

Answer 8

financial, professional, biological

Question 9

401k vs Roth

Answer 9

401k - pay taxes at retirement

ROTH - pay taxes now

Question 10

1 objective of job search

Answer 10

multiple offers

Question 11

steps in prenup

Answer 11

disclose everything, don’t mix funds, can’t surprise person, both people look out for their own attorney

Question 12

steps to Halo Affect

Answer 12

talk to manager - how to wow
Google Alerts
Network leverage
Visible tasks
SHUT UP!

Question 13

% of Americans that live paycheck to paycheck

Answer 13

78%

Question 14

Filter of 5

Answer 14

compare different offers

growing or exploding market
where you can learn
resume panache
stepping stones
earn \$\$$

Question 15

Debt snowball

Answer 15

pay off smallest debts first, regardless of IR

Question 16

Umbrella policy

Answer 16

cheap insurance policy that goes beyond regular insurance

Question 17

6 steps to financial independence

Answer 17

emergency fund (2% start)
start 401K (6% - 15%)
Don't be like your dumbass friends
set initial % and goal % (6-15%)
Hold lifestyle flat until goal % reached
never put long term assets to short term expenses

Question 18

formula for jobs

Answer 18

Brant+network+high activity job search = multiple offers

Question 19

avg. amount of non mortgage debt

Answer 19

20%

Question 20

Avg. mortgage lend

Answer 20

28%

Question 21

Latee factor

Answer 21

David Boch - eliminate recurring expenses

Question 22

Earn/Burn ratio

Answer 22

how much your investments give you without working vs. how much it costs to be you

Question 23

Get punched - phases

Answer 23

Day-of, after, day one, subsequent days, prospecting

Question 24

Avg. American salary

Answer 24

$46,641
Median - $30,533
only 10% of workers make over 100K

Question 25

rich dad to poor dad

Answer 25

poor stay poor because all money goes to expenses. Rich stay rich because the have income producing assets that pay their bills

Question 26

Avg. car note IR

Answer 26

4.5%

Question 27

how to find broker

Answer 27

the best won't take you at first, best by referral, never by cold call, long term vs. churning, interview them

Question 28

Asset allocation by age

Answer 28

110 - your age (% that goes to stock)

Question 29

rule of 72

Answer 29

estimate number of ears it takes to double money | 72/IR = # of years to double

Question 30

4 ways to make money on real estate

Answer 30

appreciation, tax advantage, wealth creation, cash flow

Question 31

what you need for real estate

Answer 31

big picture, amass funding, strong credit, bookkeeping, maintenance, keep your job, don't talk about it at work.

Question 32

Pro-forma

Answer 32

``` Revenue (rents) -mortgage (50% of rent income goes to mortgage) -expenses -upgrades -insurance -taxes =net (aim for 7-8%, if none, walk away) ```

Question 33

Cap rate

Answer 33

real estate measure used to compare different real estate investments

Question 34

multi-family

Answer 34

seek 2-8 plex that's broken in god location, move into one, enhance curb appeal, upgrade your unit then move into others and upgrade all, then buy first house

Question 35

What kind of car can you afford?

Answer 35

Max 15% of pre-tax-earnings

Question 36

four planning estates

Answer 36

living , disability, retirement, and death