High income and broke. It’s unfortunately a sad reality. Yes, the cost of everything has increased but that isn’t the sole reason why so many are making six figures, yet living paycheck to paycheck. And if I’m honest, I have become more particular about how I spend my money as my income increases. Because I feel like it just slips through my hands sometimes. I don’t desire to be high-income and broke. I want to be more conscious of what is going in vs. what is going out so the goal is to avoid lifestyle inflation.

I avoid looking at flights all day. I avoid the six-figure millennials online that are living paycheck to paycheck. I don’t have designer everything or fly first class (yet). My goals are centered around using the income I earn to create more passive income so that I can retire early and still remain financially independent.

So if you are a six-figure earner, this video is for you. I’m going to break down how to build wealth, how to generate passive income for beginners, and ultimately how to adopt a wealthy mindset vs. a consumer mindset. I want us ALL to have financial independence but it starts with learning how to save money, invest money, and ultimately earn money - without trading the rest of our lives for it. 

IRS Credits and deductions for businesses: https://www.irs.gov/credits-deductions/businesses

IRS tax information for homeowners: https://www.irs.gov/publications/p530

IRS Tips on Rental Real Estate Income, Deductions, and Recordkeeping: https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-deductions-and-recordkeeping

Relevant videos:

5 Things I Wish I Knew In My 20s: https://youtu.be/siCJ1cqT53g

5 Money Moves I'm Making In My 30s: https://youtu.be/SJvfzxhdAIQ

Does student loan debt impact you from buying a house? Yes: https://www.youtube.com/watch?v=G8f2_d63a2E&t=0s

My debt free journey: https://www.youtube.com/watch?v=C0Tyt3n7PCY&t=0s

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Open an HYSA and get an extra 1% back in interest: https://www.marcus.com%2Fshare%2FJOS-2LH-CT84&v=4kZeCxZqZ1E

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Want to get your finances together for your big home purchase? Join my free Homebuyer Goals Challenge: https://www.maximizedmoney.com/homebuyer-goals-challenge