The Best 6 Financial Resolutions For 2020

The Best 6 Financial Resolutions For 2020

Welcome to my favorite holiday season.
New Year is like my favorite time of the year because I love that everyone
else is celebrating resolutions with me. Resolutions helped me become financially
free. Resolutions helped me figure out how to lose the fat on my body years ago.
Resolutions helped me improve my marriage. But it’s not just a one time of
year thing for me. It’s actually something that I’m doing all of the time.
I just glad that I get to celebrate it with you right now. Today’s video, we’re
going to be talking about money. We’re going to be talking about financial resolutions.
There are 6 specific resolutions I started keeping years ago that helped me
become financially free. I’m going to share those with you and I sincerely believe
that if you can keep those resolutions this year and keep moving forward with
them, that they’re going to help you have your best financial year yet. A brand-new millionaire is created every
50 seconds. And yet 40% of Americans have less than
$1,000 in the bank. It’s wild. You know, it’s the little things we do
each and every year with our financial resolutions that I believe determine our
financial destiny. Where you wind up 10 years from now? 30 years from now? 50
years from now? Comes down to the decisions you make today. And here’s a
known fact amongst at least Americans. 78% of us, we are perseverating. We’re
stressed out and were worried about retirement. And that’s because we start
looking at it way too late in the game after it’s too late. After we haven’t
been able to leverage time. For those of you that don’t know me, my name is kris
krohn and this entire YouTube channel is dedicated towards helping you achieve
greater financial abundance in your life. I was financially free from the age of
26 on through the game of real estate investment. But the reality is this: If
you back up 4 and a half years earlier, there were financial decisions I
started making that change my stars. So, right now, ironically, the same 6
things I was doing in the beginning that helped me become financially free are
the same 6 things that I’m going to be recommending to you today. And it’s the
same 6 things that I’ve got on my radar every year when I’m making my
financial goals. So, if you want 2020 to be a freakin bust out bangarang amazing
incredible year, there are 6 things I’m going to invite you to do for your
resolutions. The first one, you’ve got to beef up your SWAN account. Now, I some of
you are saying, “I thought we’re talking about money now we’re talking my animals?”
This is your Sleep Well At Night account. Every one of us should have one of them.
And your sleep well night account is essentially your savings. It’s the money
that you’re not supposed to touch. It’s not for paying off debt and it’s not for
investing. It’s literally for giving you the gift
of a peace of mind. The reality is that I don’t believe that we can unlock our
creative and really financially get ahead if we’re doing it from a
psychology that’s rooted in scarcity and negativity because we’re worried and
we’re stressed out. So, the first goal that I have every year that I review. And
that I’m gonna invite you to have this year is what you can do to take your own
sleep well at night savings account and boost it up. Now, you might be wondering,
“Well, Kris. How much should I do that by?” Here’s what I want to invite you to do: I
want you to increase it by 10%. Now, what I mean by that is if you are a fantastic
saver and you’re saving 30% of your money, then figure out this year how
to go from 30 to 40 percent. But if you’re not saving a penny and your
check to check, I want you to figure out how can I save 10%. And literally
just take it out of your paycheck and pay yourself first. P-Y-F. That’s what I
call it. And you’ll say “But Kris, I’m not going to pay my bills.” Trust me, you will
strategize and you will find a way. This is a priority. Figure out how to pay
yourself first so you can have the kind of peace of mind that allows you to
Sleep Well At Night. I believe if you’re doing that and
you’re sleeping really good in your bed, then your mind has the ability to get
creative and put proper energy and execution into the right ideas. Okay,
number 2. I want to challenge you to get some type of side hustle going. And a
side hustle could be as simple as monetizing a skill. “I know how to
play guitar so I’m going to get a couple of guitar students. Or I’m going to mow lawns.”,
right? It doesn’t have to be something super hyper creative genius. But
challenge yourself. What can you do this year to make an extra $5,000 more than you did the year before by virtue of your own craft, your
own mind, your own will your own Drive, your own desire. Why? Well, $5,000 may not be a lot of money. But the reality is this extra $400 a month that ultimately equals $5,000 a year, what it
does is it gets your mind thinking how do i leverage me as opposed to being
leveraged by somebody else. And that’s an important step when it comes to figure
out how to level up your game. So, have a goal. How much extra money can you make
this year with your side hustle? By the way, if you have a hustle, then ask
yourself. “How can you make more money this year than the year before?”
Ultimately becoming in a better financial place than you’ve ever been.
It’s just about incremental steps and growth to have more today than the year
before and to challenge yourself “How do I think
that way?” Many of us are programmed literally just to say, “Well, this is my
life and this is what its going to be and I’ll just produce this year what I
produced last year.” Shoot me now how boring… Are you kidding me?
Nobody wants that life. So, make this a resolution and then find out how to act
on it every single day. Okay, this third one is going to sound quite
minimalistic because it is. It’s how do you own less. And I don’t mean just kind
of cutting so that you have less stuff. I’m talking about the waist. I’m talking
about the things that you have that you don’t appreciate that you don’t leverage,
that you don’t use. It’s just collecting dust. Well, just like a
computer has storage, our mind has storage. And if it’s cluttered with a
whole bunch of extra garbage. Or what about some of the things that you own
that you have to make payments every month to keep up on? Like, maybe you’re
not using your cable but you pay for it every single month, right? I mean it’s
just clutter. And financially, it’s hurting you. Maybe it’s something you’ve
already bought but you don’t use but you could actually sell it. I want to
challenge you right now to go find $250 worth of stuff in your house and
just sell it. Get it listed. Put it on some kind of marketplace and just let go
of that stuff. It’s not about having less. It is about living life more fully. And
so, if you want to live life at a higher level, then stop maintaining things that
you don’t leverage use or appreciate. This fourth one is something that I’m
super passionate about. It’s called delaying gratification. Now, I know some
of you look at my lifestyle today and you’re like, “Kris you live in a
multi-million dollar house. You have for the last you know almost 15 years of
your life. And I see in the cars you drive. And I seen the way you travel
around the world. And bottom line is, you have a really nice lifestyle.” Is Kris
Krohn delaying gratification? Well, here’s my rule in life: You delay gratification
in the start of the journey so you can have extra money to invest with. Most
people have been taught to save their money and then basically lock it away in
401Ks and IRAs where it’s not really earning anything. It’s growing it usually
4, 5 ,6 percent. And by the way, according to the rule of 72, your money
is doubling every 15 or whatever years. Well, in a 40-year working life, that
little bit of money doubling a couple of times or one time, that’s not really
going to make a huge impact on your financial future. Instead of focusing on
saving, we save so that we can invest. And the only way you can save is if you
actually do this thing called delaying gratification.
You know, the very first house that I bought, I could have bought a nicer house.
My first car was like in 1992 red Honda Civic with like 250,000 miles. I could
have owned a nicer car. But as I started making more money, I did not increase my
lifestyle. For those first almost 5 years, I put all of that money back and
investing. And 5 years later, it meant that I could live the lifestyle that
I’ve now been maintaining for basically the last 15 years. Financially free,
getting to do what I want when I want. Getting into cool things like making
videos like this. Been to 40 different countries around the world. And so,
delaying gratification I believe is an essential part of your journey when
you’re just financially starting out and trying to figure out how do I get to
that place where Chris or other people I respect you’re at? Or how do I have that
money to get there? Well, frankly you do it just by being really smart. Now, the
secret is not to go into a space of fear but in a space of abundance that says,
“I’m not withholding this thing that I want so that I can produce more fear and
feel horrible and bad like I want this thing real bad.” Reason why you’re
delaying that is saying, I’m intentionally choosing to put that off
because there’s something that I want more. I want my own independence. I want
to live life on my terms. And to do that, I have to invest and I need money to
invest. So, I’m delaying gratification so that I can invest. Okay, here’s number
5: You have got to get yourself an updated game plan. And I’m talking about
your retirement game plan. I’m talking about your financial future. Most of us
have a really sucky broken financial plan. Like do the math at the rate you’re
following, it you’ll never get where you want to go. And if you feel that way, then
this is the year to say I’ve got to level that up. Now, by the way, for those
of you… If you’re watching this and you’re like, “But Kris, I don’t really
have a good game plan. And I don’t have enough money to be worthy of a game plan.
Or I haven’t really set much aside.” There’s a link below to talk to a member
of my team for free that will actually give you a custom game plan. In fact, my
whole journey started years ago from literally sitting down with people and
showing them step-by-step from anywhere how to become a millionaire. And that is
something that you can do as well. So, you got to get yourself an upgraded game
plan. Now, part of getting a game plan that works may end up taking you into
the final item of resolutions for this year for you which
is by an investment property. You know, a lot of people set money aside and put
them into 401ks and IRAs that give them nothing. An investment property gives you
3 things immediately. Number 1, it gives you growth every single year. In
fact, the US Census Bureau from 1963 on says that real estate has averaged a
4 and a half percent growth year over year over year over year. The chart looks
like this and it doesn’t matter really where you live in the country for the
most part. And so, an investment property, it grows it appreciates. It gains value.
5% roughly a year for 5 years compounding us is like 30%.
And by the way, if in 5 years your value goes up of your property 30%, that’s a huge boost to your net worth. But on top of that, you can rent
that puppy out and actually get some leftover money if you do it smart
intelligently. Get a positive cash flow. Now, there’s more money every month
rather than the same amount or less money. And thirdly, there are huge tax
benefits that come with real estate if you’re paying Uncle Sam too much. It’s
because you’re putting too much money in the market and you’re not putting enough
money into real estate. So my friends, these are 6 things. These
are resolutions that I have. And I look at them and every year guess what? I’ve
got a goal of how to boost up my sleep well at night account. Now, the numbers
are boosted really big. My hustles are my businesses that keep growing and
expanding. I always try to minimize the things that I’m not leveraging using or
appreciating. I’m delaying gratification today not really at all. I have that
phase in my life, it’s done. My wealth plan is always increasing. And just about
every single day, I buy an additional investment property. So, the things that I
did that got me wealthy are these things. And for the most part I’m still
leveraging them today. And you can do that as well. Thank you so much for
watching. Thank you for being a subscriber. Every day I’m coming out with
videos designed to unlock your financial genius. We all need to be one to create
the financial future that we want. And as a free gift for me to you, if you don’t
feel like you currently have a wealth plan that excites you then get one for
free from a member of my team. It’s literally equivalent to talking
with me. They’ve been certified to basically have me step into your shoes
and say, step by step by step, “this is what you should do if
want to become financially free. Well, let me show you my way. I don’t know if it’s
going to be your way. But it certainly has worked for a lot of other people and you
might be next.

15 thoughts on “The Best 6 Financial Resolutions For 2020

  1. Thank you for these videos Kris! I'm 21 years old, living alone pretty minimalist life, (no car, no new phone, I DON'T party ect..)
    I'm so going to jump on real estate soon!

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