The Best Financial Advice for Young Professionals

YoPro Wealth

Take control. Make Money. Live wealthy.

The Best Financial Advice for Young

Professionals

Experts Share the Best Advice They've Ever Received

Welcome to YoPro Wealth! Logo YoPro: young professional Wealth: money, freedom, and much more!

YoPro Wealth is a podcast and blog dedicated to helping you take control of your personal finances and build true long-term wealth! We interview today's most successful millionaires and subject matter experts to motivate and teach you how best to earn, invest and manage your money now and in the future.

Hi, I'm Austin!

My bio in a nutshell: ? From small town, U.S.A., now living the city life ? Engineer, entrepreneur & investor ? Former collegiate football player ? Founder of ONE Pursuit Investments, LLC

Please reach out to me and say hi! I would love to hear from you.

@YoProWealth zley

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YoPro Wealth

Take control. Make Money. Live wealthy.

The Best Financial Advice

"Make your money work for you, not against you. Debt works against you, investing works for you."

John Lee Dumas

Host of Entrepreneur On Fire Podcast

@JohnLeeDumas

Compound Interest: The wealthy understand the power of compound interest. Albert Einstein called compound interest "The most powerful force in the universe," and "The greatest mathematical discovery of all time." Debt uses compound interest against you (for example, if you buy a house for $150,000 and pay 7% interest and minimum payments for 30 years, you actually pay $360,000 for the house!). Alternatively, investing the right way works for you. $10,000 invested every year at a continual 10% growth rate will be $1,000,000 in under 25 years! If you start at 22 years old, this is $1 Million from a mere $10,000 investment each year by the age of 47. Of course, the plan is to increase the amount you save/invest and achieve this milestone much, much earlier. Learn the power of compound interest, and utilize it.

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YoPro Wealth

Take control. Make Money. Live wealthy.

The Best Financial Advice

"Simplification is one of the great things. Get to a point in life where you don't need to make too much, because most people are trapped. The other great thing is multiple streams of passive income. Passive income is taking your income and putting that money to work for you. So while you sleep, that money is working harder than you work."

David Wood

Trainer's Trainer & Host of The Kickass Life w/ David

Wood Podcast @TheKickassLife

Passive & Residual Income: Multiple streams of income is a huge part of becoming wealthy, and will be a big focus for YoPro Wealth. With working income, you only get paid once for the work that you do. With residual and passive income, you get paid over and over again for your efforts - even while you sleep! These other income types are very similar. Passive income is derived from investments in which the individual is not actively involved (doesn't require effort from you). Residual income is recurring payments after an initial effort. Examples of each include:

- Passive income: online advertisements, affiliates, rental property, royalties from invention, dividends and interest from stocks/bonds

- Residual income: books, songs, network marketing, online training video It is easy for young professionals to create financial freedom - all that you have to do is create passive income that exceeds your expenses. If you keep expenses low, then this is relatively easy to achieve.

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YoPro Wealth

Take control. Make Money. Live wealthy.

The Best Financial Advice

"The thing my mother taught me is not to define

Zac Bissonnette

yourself in terms of inanimate objects. For young professionals, building an identity around the things you own can be an easy trap to fall into--but the

Author of How to Be Richer, Smarter & Better Looking Than Your Parents @ZacBissonnette

bottom line is a leased BMW won't make you any

happier or cooler, and it will make it harder to take

care of the more important and fulfilling things in your

financial life."

Happiness: We think, "As soon as I get (insert item) , I'll be happy." That is not true. Happiness is not a goal, it is a byproduct of living a meaningful life. It is fighting a struggle worth fighting for. Success and happiness are found in the realization of a worthy ideal. Notice that these three definitions have nothing about buying a BMW, fancy house, or any item at all. Wealth is not just money, and happiness cannot be solved by dollars alone. We've all heard it, but few actually listen to it: money doesn't buy happiness.

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