Unlocking Long Term Wealth: Transform Your Finances in Just 12 Months! | How to Build Wealth
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- Опубліковано 27 чер 2024
- 🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: bit.ly/3QWqfbq
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Videos Mentioned:
▶️Getting Pre-Approved for a House - ua-cam.com/users/livecpewL4OlpjQ?...
▶️Tax Planning (Hiring My Children)- ua-cam.com/users/liveJ_SlmyUcjvU?...
▶️Estate Planning (Attorney Interview)- ua-cam.com/users/live_28V18alVQQ?...
📌Need an Agent Referral :
➡️ GEORGIA, FLORIDA & TEXAS ONLY: forms.gle/dsGeJo1JFYpfSNJLA
➡️All other states: homeandmoney.com/shaheedah/
Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - • How to Buy A House | B...
⭐ Where Should You Start? - • First Time Homebuyer C...
⭐ Most Important People in the Home Buying Process - • Home Buying Process - ...
⭐ What is Included in your Mortgage Payment: • What is included with ...
⭐New Construction - • First Time Buyer New C...
⭐FHA or Conventional - • Which is better FHA or...
⭐Buying a House with Student Loans - • Buying a House with St...
⭐7 Day Perfect Credit Plan - • My ONE WEEK PLAN - How...
⭐Can you afford a house: DTI Ratio - • How Much Home Can I Af...
⭐What happens at closing - • What Happens During a ...
⭐NACA Home Buying Program - • NACA | NACA Program | ...
⭐Should I Rent or Buy? - • Should I BUY a HOUSE O...
⭐ Get Your Real Estate License Online- • How to Get Your Real E...
⭐⭐PLAYLISTS - / shaheedahhillrealestate
🏡🏡Do you want to get your Real Estate License? I recommend Real Estate Express - You can get your real estate license online! Save with my Affiliate Link: colibri-real-estate.pxf.io/n1OEGa
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My three favorite channels: Shaheedah Hill, Stock Brotha, & Graham Stephan. Make my week complete! 🔥 🔥 🔥
SO inspiring, thank you. I've recently started working at a nursing job that pays almost double of what I was making before, but I didn't even think that it was possible.
I resonated when you said that you should only really be in a job or position for 2-3 years to ensure that you are broadening your skill set. I've been a nurse for over 8 years and although I've furthered my education, I was hesitant to change my specialty because I didn't really think that I would make more money. But I was wrong and part of it was probably just fear of stepping out of my comfort zone even though I wasn't really comfortable or happy.
Thanks again for all of the tips. Starting with increasing our income has allowed my family to really plan & move better financially.
That is so awesome. Yes, sometimes we get comfortable and complacent. It is a good reminder, thank you for sharing. Doubled - WOW!
Thankful 12 of 12 and debt free. Keep teaching. Wish I knew decades ago how much freedom comes with being financially educated.
You are doing AWESOME!! Thanks for watching.
I'm at 748 right now with my credit and it's been going up consistently 🙏🏾
Awesome thanks for watching.
ALL of these are realistic. I'm 31 with a 2yr old daughter just entering my career. I'm already starting to prepare for the new year so this is a great outline. Thank you soo much! My goal is to be a homeowner in 6months-1 year.
Glad it was helpful!
1. Credit Goal 750
2. Budget monthly disciplined
3. Plans to buy a house ( pre approved)
4. Life Insurance (10X income) & other people you may depend on financially
5. Emergency Fund (3-6 months of income)
6 Estate Planning ( will or trust) encourage family members to do the same
7Pay off debt (debt plan) snowball effect
8 Retirement Plans
9 How to maximize income
10 Tax Planning (paying the least)
11 Investing in 529 plans, mutual, index funds, & real estate
12 Ave fun with your money
@reginaldtaylor4980 Thank you for watching
We have 8 of the 12 in place, and are 90% to completion in 2 of remaining 4 Mrs.Hill 👏😁
That is awesome! I have to get more people on the plan😊
Great content as always. Thank you. I would also emphasize the importance of first prioritize getting out of consumer debt..i.e cc, student loans, car loans, etc.. with those out of the picture its easier to implement almost everything else. Cheers
Yes, that is very important...thank you for the feedback!
Thank you! Look forward to this plan.
You are so welcome!
Thank you, Shaheedah. 🙂
Thanks a lot 🙏 you are an angel.
You're welcome 😊
Really good suggestions. They are easy to ‘digest’!
Thank you ❤
Thank you so and I appreciate that feedback!
Shaheeda you the besttttt! Btw you have an Arab name, it’s so beautiful
Thanks so much!
This is very helpful and informative. 🙏🏾💖
Thanks for watching!
Thanks for good sound advice
My pleasure!
Thanks!
Thanks so much for the super thanks. I really appreciate it!
This was so great!! I stumbled onto your channel by accident and I’m in love. I’m already a homeowner but appreciate a lot of the other videos I’ve seen. I have some work to do 😊.
@amberherrera1514 Thank you for watching and welcome to the channel!
Thank you for this Shaheedah. It's a very informative video.
My pleasure 😊
Thank u!❤
You're welcome 😊
Very helpful indeed.
Thanks for watching!
Thank you ❤
Thank you for this video 😊
My pleasure 😊
This is great and helpful. Thanks for this important information.
Glad it was helpful!
11 of 12. For some reason the estate planning piece seems like a pain and I keep putting it off. I don't generally trust attorney's but maybe a friend will recommend a good one. Great content as usual! You are truly helping people.
You are doing awesome 11/12! Thanks so much for watching. I did this video with an attorney. He is in Atlanta but he may be able to recommend someone. ua-cam.com/users/live_28V18alVQQ?feature=share
I’m with you, I have 11 out of 12, but the estate planning seems a little overwhelming. I’m retiring at the end of the year, and I have been told that retirement packages don’t have to go into a trust because you already have beneficiaries spelled out. I’m also about to start a major rehab project on my home, I wonder if I should do the trust after that’s completed?
Absolutely Awesomely 👏🏾
Thanks for watching!
Thanks for the information 👍🏽
Thank you so much!
Great information. Thank you Shaheedah
Thank you so much Sonya 😊
This list is VERY helpful. I’m going to save this video.
Awesome! Thank you!
I did
Very good video with great information for planning ahead. Thank you
Thanks for watching!
Very informative.
Thanks for watching
This is the bomb thank you so very much your are a blessing in our lives
Thank you so much. I appreciate you watching and commenting.
Thank you SO MUCH.
You're welcome! Thanks for supporting the channel!
Great video!!😁
@cbow5582 Thank you for watching
Right! Looking to move up.
5 out of 12 However 6 are on the back burner until the Debt Plan is complete. 1 I never considered but I will be figuring out how I can pay less in taxes. The tax planning thing was a gem 💎
Yes, if you can save on those taxes, more can go to getting that debt paid off. Thanks for watching and sharing.
Thank you
Thanks for watching!
Hey, Mrs. Hill. I took the first step, I got pre-approved. Just for the record I'm managing my money well, I've saved up 15,000) (not much, but the most I've saved). I have my ex-husband (son's dad), step-son, and myself on life insurance. Now, I haven't gotten a will yet, because I don't have nothing 😢.
You are for sure on the right track!
Lol, you have $15,000.
Thanks for the great Info 🙏 Ps You look Lovely ❤️
Thanks so much!
Golden
Thanks for watching
When you mentioned the name Dave Ramsey I said, "oh brother" 😳 he's known for giving inaccurate information 🙄 I WOULD payoff the credit card 💳 with the highest interest rate 🧐it's costing MORE MONEY 💰 regarding life insurance you should consider a whole life insurance policy and NOT a term 😒 term is a gamble, your gambling on being able to take advantage of it before it expires 🤔tell me what sense that makes 🤬 another Ramsey money pit😬 listen to him with a CRITICAL ear, asking yourself is this TRUE 🤥 you're going to need a second and third job especially if you've been listening and following Dave's lead 😤 He's setting people up for failure with misinformation🤢then others spout the same nonsense which is problematic 😵💫🤯😖
So true, that is what I would do as well. But I do understand the psychology of it, some people need to see those small wins to keep motivated. Thanks for watching.
ShaHeeDah! Happy Monday from Chicago 🙂 Can you do a video on an assumable rate mortgage? Or do you already have one? I just recntly heard this term and want to know your thoughts pros/cons to consider from buyer and seller position? Due to crazy rates, it this a considerable option to lock in on a good rate for buyers? Thank you 😘
These were common in the 70s and early 80s. With interest rates as high as 16-20% for mortgages, an assumable loan of 3-6% was gold. Usually it looks something like this, I will use $100,000 home price to keep it easy. We’ll do 20% down $20k. Assumable loan of 50% at 3%. The buyer needs to come up with $30k in cash or a 2nd mortgage. Usually to assume, the lender needs to approve the buyer. Also, the lender usually requires they be in the first position for the liens.
Cons - 2nd trust interest is usually higher. Buyer usually must be approved. Seller may be on the hook if buyer defaults, but maybe not VA assumable is easy if buyer is a veteran with no other defaults or Veteran’s loans outstanding, otherwise it difficult or impossible, check with Agent, VA, Lender.
This the basics.
11 of the 12 just working on the savings
That is awesome!!!
👸taught me soooo much! 💎💎💎👏👏👏cannot thank u enuf 😇🙏!!!
Thanks for watching!
@@ShaheedahHill 👸ur info: is a financial😇 minstry!!! bc blac ppl were never taught the basics of the money game. thus a poverty mindset🤦. no savings, no home/insurance, no trusts & no legacy etc. after working 40years😭. God bless u for helping to level the playing field by dropping free gems💎💎💎💰💰💰👏👏👏
❤❤🎉
Very useful content. Can you put a house into a Trust if it’s not completely paid off?
Thanks for watching. Yes, you can put a house in a trust even if you have a mortgage.
@@ShaheedahHillThank you for taking the time to respond. I really appreciate it.
Thank you for sharing. Instead of IRA or 401K would it better to invest in an annuity? Types of Life Insurance that grows faster than average policy is IUL correct? For investment and tax purposes.
No annuities are not the best option and often advisors push them so they can earn high commissions, and only work for a segment of people that already have all of their other investments maxed out. www.investopedia.com/articles/retirement/08/annuity-mutualfund.asp
Here are 2 annuities that might be an exception: clark.com/insurance/2-ways-to-guarantee-yourself-a-lifetime-stream/
Thanks for watching.
good day to you miss,great content.i just wanted to ask some questions since I'm on my journey to purchase my home.i've been in the hospitality industry for a while and switch to become a truck driver.since i switch careers and I'm still getting paid w-2 do i have to work 2 years of trucking before i can apply for a mortgage.
Since you are still a W2 there is a possiblity that you will not have to wait 2 years. I would get pre-approved or speak to a lender ahead of time to be sure.
Can you please explain the Roth IRA, do I contribute monthly and how much? Thanks
You can contribute up to $6,500 ($7,500 if you're age 50 or older) a year. Thanks for watching.
@@ShaheedahHill thanks for this
@@1-blackcakequeen778a few interesting facts. The contribution is after tax money. A regular IRA is before tax money. Withdrawals can start at 59 1/2 without penalty. Withdrawals at 59 1/2 are tax free, meaning you pay no income tax on withdrawals. There are exceptions to withdrawing original contributions after 5 yrs, but do not think of it as a regular savings account.
Hi! Would you be able to do a video about what to all include for income when trying to get a loan. I had no idea I should’ve included my 401k as an asset when I was applying for home loans. I don’t know if that would’ve made a big impact or not but it’s almost 30k I forgot to mention 😣
You should only use what you need to qualify. Lenders ask about retirement accounts but it doesn't factor into your pre-approval unless you plan on using those funds.
Lenders by law can not factor it in. But, they like to see it because it speaks to you investing in your future and they hope you will tap it if you run into difficulties. You are not required to tap your retirement funds, they just hope.
Hi Mrs Hill I don’t have Life Insurance and I know this is different for everyone. Can you please send me a information about Life Insurance a link or names of some companies. Thanks
I used Zander insurance they quote will multiple companies. Max out insurance offered by your employer and then try outside insurance. You want at least 10X your income. @mariasanders6629 Thank you for watching
Looking for a buyer realtor in Westchester county, NY
Do you have any agent recommendations for first time homebuyers in dfw texas
Yes. please complete this form. Thank you
➡️ GEORGIA, FLORIDA & TEXAS ONLY: forms.gle/dsGeJo1JFYpfSNJLA
Hello Ms. Hill. My wife and I are saving for a house, but we have 2 separate bank accounts. Should we use 1 account when apply for a loan does it not matter and they will add up both of our accounts. Both of our names will be on the loan
It doen't matter, they will use both accounts.
Thanks for watching!
Hi. I feel good by reaching out to you? I follow you and principles. I have with my Mom 5acres.but family have more but no no structure. 5 Sisters but I'm nephew with a vision for them no pay property taxes out of pocket..Help I'm and advise is need..Help me Sis.
You all probably need to meet with a lawyer to get a structure in place for the land. I have done a few videos with lawyers discussing this. ua-cam.com/users/live3E5x1jWOMmA?feature=share
We have 5acres virgin land need to build on it I have the deeds..So we don't have to vote out of pocket each year.
Talk about how homes in black neighborhoods are under valued and cheated out of wealth. My mom bought a home and the value never went past the purchase price. Talk about where to buy a home.
I have "Black Homeownership" playlist. You should check it out. ua-cam.com/play/PL6YdU_zvybVk0n2U7EY65_8tBFA2gHE_F.html