Lifestyle Success Topic 3 Review – Financial Education

The following is an outline of my workshop for Champion Elite members

Master Ramirez Lifestyle Success Workshop

Week 3 Topic “Financial Basic Education Part 1”
Get into groups. We need captains. Choose.
Who can Get Rich? Self-Fulfilling Prophecy.         Education/Knowledge is Power.
 
Project: What did your parents teach you about money?
School, Job , Retirement (How much to retire?) What do you intend to do when you retire?
When do you want to retire?     Debt vs Equity  
Good debt vs Bad Debt                 How long does it take to save 1 Million?                Borrow 1 Million? 

1.       Money is an Idea (mindset)
2.       Money Does not Make You Rich
3.       2 Kinds of Money Problems (Too little/Too much)
 
Can Money Solve Problems? Ex.: Mike Tyson
What produces the most Millionaires?                   Zero-Aire
What Bank let’s you borrow to buy Stock?           An Idea (business)? 

3 Types of Literacy: Academic, Professional, Financial
 
Project: Define Assets and Liabilities                                                       Middle Class vs. Wealthy
 
“I can’t do (afford) it?” vs “How CAN I do (afford) it?”
 
Types of Income: Earned, Passive, and Portfolio (Taxes created by…)
 
Can you Read a financial statement?
Project –Define:
E- Employee
S- Specialist
B- Business
I-Investor  
 
Project: List assets and liabilities to get your cashflow
Example
House – $100,000              $80,000 Mortgage comes from…
$100 cash flow vs Evicted                              $100,000
 
Homework:  Define Wealth…How long can you last if you lost your job today? Credit Card. Take Charge.   
Read – Rich Dad Poor Dad, Cash Flow Quadrant, Think and Grow Rich.

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