Speaker 1: What would be a good percentage to use, you know,
Speaker 1: so that way I can just keep the same number
Speaker 1: going in there all the time. Yeah, you know, I
Speaker 1: don't really like percentages too much. I like actual numbers
Speaker 1: because I could say, like I could say like ten percent,
Speaker 1: fifteen percent, but it really just depends on your situation.
Speaker 1: So I always try to look at like discretionary income,
Speaker 1: so like how much money is left over at the
Speaker 1: end of the month. So that's the first Like first
Speaker 1: we got to see like how much money is left
Speaker 1: over at the end of the month, right, So it's
Speaker 1: like one of two things is happening either and this
Speaker 1: is just like broad range statement. Either you have money
Speaker 1: left over at the end of the month where you don't,
Speaker 1: or you're running in a deficit. So if you have
Speaker 1: money left over, you got to see how much money
Speaker 1: you have left over. So if it's like, Okay, I
Speaker 1: have a thousand dollars left over after all my bills
Speaker 1: are paid, after you know, I have some fun every
Speaker 1: single month, I have at least a thousand dollars left over, right,
Speaker 1: So just using that that number, I personally would probably
Speaker 1: do somewhere along the lines of like putting thirty percent
Speaker 1: of that money into like savings until you have you know,
Speaker 1: six to twelve months of savings, because that's important, and
Speaker 1: then I probably would look to invest thirty percent. So
Speaker 1: now that's like sixty percent of the money right there,
Speaker 1: and then maybe you know, twenty percent will go to
Speaker 1: you know, a kid's account, twenty to fifteen percent or
Speaker 1: go to the kid's account, and then the left the
Speaker 1: rest is just kind of left for like miscellaneous. So
Speaker 1: that's what I would kind of go by more so
Speaker 1: than like, you know, just a percent of like your
Speaker 1: total income, because I could say ten percent of your income,
Speaker 1: but if that might be too much, So it's really
Speaker 1: more of a percentage of your discretionary income, and the
Speaker 1: discretionary income I would say probably like twenty percent twenty
Speaker 1: to fifteen percent of discretionary income that you can afford
Speaker 1: to you know, put away.
Speaker 2: Okay, thank you. I appreciate that man that helped me
Speaker 2: out a lot.
Speaker 1: No, no problem, brother, I have a good one. All right, Tyran,
Speaker 1: we're coming to you on yourself.
Speaker 3: Please.
Speaker 2: Hell, I'm good in euroshage.
Speaker 1: I'm good.
Speaker 3: I'm good.
Speaker 4: All.
Speaker 2: I have a question, what are the disadvantage of an escort?
Speaker 2: I kind of think, I know a little bit about
Speaker 2: the advantages in compassing to an LLC, but what are
Speaker 2: the disadvantage of a S card.
Speaker 1: It's more structured. I think this business had actually told
Speaker 1: a class about this. But you have to pay yourself
Speaker 1: a salary, so especially like if you're not making you know,
Speaker 1: that much money off if the business is just starting out,
Speaker 1: it could be kind of pressure on you to you know,
Speaker 1: have payroll. So that's something that you know, definitely could
Speaker 1: take into consideration. Like I forgot the number that she said,
Speaker 1: but I think it's like one hundred thousand dollars something
Speaker 1: like that. You should be making like one hundred thousand
Speaker 1: dollars in your business before you go to es corporateute,
Speaker 1: because yeah, it's definitely it's definitely a lot more structure.
Speaker 1: But the off the top of my head, I would
Speaker 1: I would think that that would be something that you know,
Speaker 1: you just definitely have to consider because you definitely have
Speaker 1: to put yourself on payroll and you know, where as
Speaker 1: like a regular LLC, you could just you know, not
Speaker 1: pay yourself a month, two months whatever if not no
Speaker 1: money's coming in or you just want to just you know,
Speaker 1: you're real within that month so that's something that's taking
Speaker 1: to consideration. Especially a lot of businesses, especially when they
Speaker 1: first start, cash flow is very up and down. So
Speaker 1: you know, if your cash flow is up and down,
Speaker 1: you want to make sure you getting to a point
Speaker 1: where you have some level of consistent cash flow.
Speaker 2: First, okay, thanks very much, that answered the question.
Speaker 4: Thanks all right, you'd be coming to you on yourself please.
Speaker 3: All right, good morning, thanks for coming. My question is
Speaker 3: I have to questions. My first question is, let's say,
Speaker 3: like example, like I have a mortgage that I was
Speaker 3: trying to pay early between like for like within seven
Speaker 3: to ten years. And also let's say if I have
Speaker 3: some money that's coming in. Let's say, like if I
Speaker 3: have like probably like two to five thousand, so like
Speaker 3: should I put it in the market even I do
Speaker 3: have automatic.
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Speaker 3: That's been that contribution that I make every month for
Speaker 3: my investment on the stock market and crypto and stuff
Speaker 3: like that. So should I keep the best things for
Speaker 3: me to do? Should I like put that money in
Speaker 3: the stock market or should I put it toward my mortgage?
Speaker 3: Even like in the future, I want to like to
Speaker 3: invest more and and real estate. So what's where we be? Yes,
Speaker 3: but what we suggest I.
Speaker 1: Mean, I think you could do both. I don't think
Speaker 1: I don't think it has to be a one dy
Speaker 1: the situation. You know, you want to see what's most
Speaker 1: what's most important? Is paying off your house more important?
Speaker 1: Or do you think you can get a better return
Speaker 1: in the stock market? And especially if you got a
Speaker 1: low interest rate, it might be more advantageous to put
Speaker 1: the money into the market because you know your opportunity
Speaker 1: costs is probably greater investing in the stock market. But
Speaker 1: that doesn't necessarily mean that you can't do both. So
Speaker 1: you know you could maybe if instead of if you
Speaker 1: was going to put two thousand dollars a month into
Speaker 1: paying into your mortgage to pay it off, you know,
Speaker 1: a lot quicker, maybe you put five hundred dollars a month, right,
Speaker 1: you know that's still going to add up over the
Speaker 1: course of the year, and you know you could still
Speaker 1: knock off years of paying off your mortgage. So I
Speaker 1: would I always say, you know, see what's most important
Speaker 1: to you, But you can definitely do both, especially with
Speaker 1: that with that amount of money. It's not like it's
Speaker 1: you know, a couple of hundred couple of thousand. You
Speaker 1: can definitely, you know, allocate money to both of them.
Speaker 1: But the opportunity costs will probably be better investing in
Speaker 1: the stock market. But I also understand, you know, if
Speaker 1: you don't want to have the mortgage forever and you
Speaker 1: want to pay off the property sooner, so you know,
Speaker 1: maybe maybe you just do some calculations and see how
Speaker 1: that will work out if you if you did it
Speaker 1: for just a little bit less money than you would
Speaker 1: have done originally.
Speaker 3: My other question is what what the difference between like qq.
Speaker 1: Q and q q q M.
Speaker 3: You broke up a little bit, what you say, what's
Speaker 3: the difference between like qqq and q q q M.
Speaker 1: I think QQQM Troy know QTE the t but yeah,
Speaker 1: let me make sure I get a right information on that.
Speaker 3: I think it's the mini QQQ, but I would I
Speaker 3: would like to know if there's a difference like from
Speaker 3: from the percentage of return or the amount of stacks
Speaker 3: that that that they invest in. Was that one is
Speaker 3: around like three something and then the qq M is
Speaker 3: on like one something.
Speaker 1: Yeah, let me let me look, let me look, I
Speaker 1: have Troy doing research on it.
Speaker 3: Get back to you on that. Okay, thank you appreciate.
Speaker 3: And also for form irate rough area for kids, So
Speaker 3: like do they have to be a certain age for
Speaker 3: to start a rough area for kids? Yeah?
Speaker 1: Yeah, they have to be well yes and no, they
Speaker 1: have to if you doing it. If you're not self employed,
Speaker 1: then they have to be a working age, like they
Speaker 1: have to have a job. The working the age depends
Speaker 1: on what state you live in. But as long as
Speaker 1: they have working papers and they have a job and
Speaker 1: they actually have to be working, that's another thing. So
Speaker 1: as soon as they're able to work, you can do it.
Speaker 1: But if you're self employed, it's a little different because
Speaker 1: you can actually hire your child before they legally have
Speaker 1: like working papers as long as they're actually working and
Speaker 1: they can actually do a job. So obviously, like you
Speaker 1: can't hire a two year old. But like if you
Speaker 1: have like somebody that's like ten or eleven years old
Speaker 1: and they're actually doing you just have to be able
Speaker 1: to justify it in case you have to get audited.
Speaker 1: But you have more flexibility and you can hire younger
Speaker 1: if you're self employed. But if the child is working
Speaker 1: just a regular job whenever, if they work a job,
Speaker 1: then they could you could put money into the IRA.
Speaker 3: It's so basically you cannot do it in course your
Speaker 3: account for the IRA. Yeah, yeah, no.
Speaker 1: It's it's a custodial count. It's just it's a raal ira.
Speaker 1: Still you still you still like the child is still
Speaker 1: a minor. The child's still a minor, so it's not like,
Speaker 1: you know, you got to set it up for them
Speaker 1: and you put the money in. But you know, you
Speaker 1: can have a custodio account where it's just in the
Speaker 1: market and there's no retirement account attached to it, or
Speaker 1: it's the retirement account, but it's still it's still a
Speaker 1: custodio account.