these six accounts are the only way you can set yourself up to let your hard-earned money make you a millionaire I'm Rosie you just got to do it scared let's talk about six very important accounts that you need to keep your money safe and secure for your life I wasn't taught the stuff growing up and they didn't teach us either in school sis I've been to business school they didn't teach out there either I had to learn the hard way making mistakes and losing money but you don't have to cuz you know I got you
understanding how to use these six accounts to my advantage helped me build my savings accounts literally from the negative to $100,000 and built out my Investment Portfolio now transitioned into real estate building over a million and a half in Assets in just under 2 years all because I learned about these six accounts so come close this is I know you're probably feeling stressed and we down with lots of responsibilities you're dreaming of more time Freedom easier money and a stable Financial life cuz who doesn't want that getting these six accounts and setting them up properly
will help make that happen for you so I'm going to need you to promise me in the comments that you are going to get on it if you haven't signed up for any of these accounts yet the first on our list is our good old checking account this is your home base you've got a checking account you've got a checking account but here's the thing I was talking to a friend the other day she cleared six figures easily in about 2 quarters of the year but here's the thing that shocked me she is stockpiling her
cash in her checking account like she has a few six figures in her checking just sitting in her checking account and this is what really hurts because if you understood the fundamentals of inflation your money's value is actually going down over time we were just not educated on the foundations on how to start having our money work for us with the amount of money in her checking account if she took that money out of her checking account and had even just a high yield savings account the interest that she could be currently earning on that
account could easily cover most if not all of her business expenses this is more money in her pocket that she's just leaving on the table and yes I've got videos for you on what high you P are all about and the best ones to look for so you got to stay tuned honey or better yeah subscribe baby okay I'm going to put some videos at the end for you so stay tuned so you know listening to her vent the major thing I kept hearing was like she's scared right she's worked so hard to get all
this money but I said it's scary to have worked this hard and be losing value in that money that you worked hard for we're going to have to start changing our mindset letting go of fear letting go of that limited mindset that was created back in our early years one and fact we were limited with our cash okay but not this season so sis even if it's just an hour a week to watch videos like mine in hopes that it inspires you to begin your journey of building a strong financial foundation so with the checkin
account you should only be really using it for two things paying monthly bills and ATM withdrawals anything else above that sis move it move it into a high you sa's account at least move it don't have it sitting in a checking account and basically operating your whole Financial I don't know process through your checking account and to amp this up so you get to expert level quickly when your paycheck comes into your checking account set automated withdrawals to go into the other accounts especially the ones that we're talking about today let me know if you're
interested to know how much you should be putting towards all these different accounts that we're going to be talking about today especially at our big age okay we shouldn't be able to have something put aside at this time I can do a separate video for you but let me know in the comments so look at your checking account this way if it's not for immediate use or it's not being moved when or the accounts that we're talking about today you're actually wasting it because I've already talked about the inflation aspect of it but then also
it's not earning it's earning literally 0% like it's not earning any interest at all but we're leveling up and now money needs to work for us okay anyways I use chays I like the gires in my local office and you know interestingly it's like the most diverse Bank I've ever been to like the folks that they employ at least in my area but honestly your local credit Union would be perfect for this like I said this is not an account that you're keeping much in so far as there are no fees Affiliated go ahead sign
up and get things moving second account that you need is a must you've already heard me mention it a high yield savings account I can't stress this enough please stop saving your money in a regular Local Credit Union big Bank putting your your hard-earned money into that savings account I mean Bank of America Amer TD Bank don't do that Wells Fargo don't do that City Bank PNC's these Banks typically offer rates less than 1% for their savings account don't use those savings accounts sis not for your hard-earned money we want a hard earn money to
start making some money working for us in our sleep okay we need to start building that even if you have 500 1,000 doesn't matter open a high savings account and start there and as I promised you I'll put a video at the end about high yield savs accounts everything that you need to know so definitely stay tuned so with your high yield sa account once your paycheck comes into your checking account you then set up an amount or percentage that you're going to move over to your high old savings account so this is where the
magic really starts use this for money you'll need let's say in the next 1 to three or 5 years this is also a good place to keep your emergency fund this is level one of your money working for you okay we're building that Foundation of financial stability now with a high statment account you're talking anywhere from 3 to over 5% when it comes to the interest rate that you can get from the money that you're putting into the account versus the barely their interest rate that you get from the bank from across the street around
the corner let's say you put $1,000 into a high yield savings account allly SOI I mean the list goes on then compare that to $1,000 that you had put in let's say Bank of America or even PNC savings account that $1,000 with you doing absolutely nothing will generate you $40 of interest in your high sa account doing absolutely nothing that could be gas in your tank get on it Sis third account is a 401k account or an employee sponsored investment account and I definitely urge you to become involved with your 401k account get to know
what investments that your company chooses to put your money into also it shocked me it shocked me that with some companies you can actually change the buckets in which your 401K money or Investments are being invested in that's something I had no idea about all my money was sitting there not doing much recing all these high fees on the account that was in I could have switched it to a high performing portfolio and I had no idea you see this was that first corporate job that I had I mean health insurance benefits you name I
was just inundated with all this information I wish I had somebody who had gone through corporate that would have Tau me the ins and outs on how to navigate all these things but I didn't but that's what you got me cuz I learned figured it out now I can teach you I can show you I can give you some Direction so if you're still navigating these type of benefits I say take like a fr Friday over the course of a couple months don't overwhelm yourself take even just an hour or two right and learn about
the different benefits that your company offer you can very easily get HR online okay to ask them any questions nowadays all these companies put the HR International anyway so give somebody a call to explain what the company offers so if you find out that like with your 401k you can actually have power over where it's invested this could be a great opportunity to look at more aggressive growth funds given our age group we can leverage time to have these accounts actually grow for us more aggressively over time now here's the thing if you have this
401K through your company especially if the company offers what you call an employees sponsored retirement account where they would say that we're going to match up to a certain amount that you put in every month so basically whatever amount that you're putting into this account to save for your 401k they're basically doubling it up to a certain amount this is money that you could be leaving on the table if you're not well informed don't leave money on the table sis take advantage of all benefits that your company offers okay cuz I know you're working hard
leverage those benefits you're already paying for them okay take advantage of them you get my drifts okay our next one is a Roth IRA why should you open your own retirement account well let me tell you about one of my neighbors at one of my properties this is an older gentleman I mean late '70s probably he got pushed into retirement earlier on by one of the big companies and this is actually something that a lot of companies do as a layout strategy they push folks into like early retirement but here's the thing he's been retired
from his job long enough okay he's been alive that his 401k and the pension that he gave him is starting to run out as in he's not going to be able to have any more funds to be able to just basically live off of and you know he jokes with me and he's like well I guess I'm just going to have to top it over and call it a day you know it'll take me out but seriously when you think about this and this is that uncommon too like at 70 something 80 something where are
you going to find a job at how are you going to start all over just just to be able to survive do you know how crazy that is this is why it is so important for us to take our investment our retirement into our own hands and start investing start understanding the basics on how to build your financial Foundation because it would really suck to have gone through life and by God's grace have good life and health and no money I mean if you put it that way it's funny but in all honesty this is
something that we can build for ourselves signing up for Roth IRA is very easy just like you would for savings or checkings account so here's what you're going to do to sign up for Roth IRA you're going to go through one of the brokerage accounts and there are many of them from your vanguards to your Fidelity Mr Schwab Charlie Schwab your TD Mar I mean there's a lot of them right you get to pick which one that you want to go for based on what you want to invest in then you're going to open a
raw Ira with them okay then you're going to transfer just like how you would transfer money into a check No Sa account you're going to transfer money into this account now you're not done you're not done at all this is so important because if you leave that money in sitting there in that account it's not going to do anything for you you have not invested the money yet you have to go and pick what you're going to invest in for your Roth IRA you get it if you don't get it okay no no you got
me so I got you I got you so you want to use your Roth IRA money for me I would advise to look into a lowcost Index Fund especially one that tracks the S&P 500 I really like vanguard's vo it's an ETF and it's been the foundation of my Investment Portfolio oh and I've got a video that goes in depth on different options of ETFs that could work for you so I'll put the video at the end so that you can look into it and do more research on the best one that could be a
fit for you stay tuned baby okay so once you take that money that you've put into your rothar account and actually buy an investment with it then that's it you're all done for now at least you're all done keep it simple now what if you wanted to invest more money into it let's say automatically monthly okay with a regular Roth IRA everybody's allowed up to $7,000 there's a limit on it but if they're putting a limit on something that could be an account that you should be looking into and asking yourself hm how do I
get one of those get on it Sis get on it now remember you can take your money back whenever you want for any reason if you take back the money that youve put into the raw fire a before 59 years of age okay you will be taxed on the money that you pull out basically the gains that you get from the Investments that you've done so ideally you're not touching your Roth IRA until you're in your 60s and another time when you take money out of your Roth IRA you get to keep everything all the
money that you put into it from the beginning plus all the gains that you've got tax free so don't sleep on a Roth IRA okay and yes like I said I've got videos that go into detail that gives you more information on how to sign up what options of Investments to look into so stick around sis I'mma put at the end for you but even better even better you watching this video why don't you go ahead and subscribe you know what I mean so go ahead and subscribe sis and join the family hello the next
account on our list is the HSA or the health savings account now this is another account that I had no idea how powerful it could be back then figuring out how to get into corporate was just like my focus and when I got in there I'm like okay whatever yeah I'm just going to sign this I'm going to do this I was happy to be there okay but I left so much money on the table with these benefits that these companies were offering that's why I was like take your time you know what I mean
call up you have to like learn about the benefits that these companies that you're working for that you're giving your your time to um for you to be able to take advantage of these benefits cuz you're already paying for them why not use them and while you're at it take a little vacation too okay use that PTO so I eventually figured out that an HSA is a special account where you can save money for healthc care expenses but it's more than just a savings account imagine my surprise in my early 20s that I could actually
invest through my HSA account just like how you would if you had a Roth IRA but with an HSA account you can use those funds for a healthare or medical expenses at no tax to you which is very cool I have a friend who saved up her HSA and used it for a little job she did and I was like oh wow you can use for really any medical expense now this is good for you because when you put money into an HSA you don't have to pay taxes on that and when you use it
for these healthare medical expenses you don't pay taxes on the gains of the account so before we're 65 I pray pray for old age and good health for all of us before we're 65 if we use the HSA for non-health care things we'll pay taxes on it plus a 20% penalty after 65 though we can use this HSA account for anything without the 20% penalty but if you're using it still for nonmedical or non-healthcare expenses then you're going to be taxed on your earnings but if you keep it for just the Medical Healthcare expenses then
not only are you not being penalized but you're also not being taxed on your game take advantage of these accounts I see an HSA account for you as a great way for you to save and invest in your Healthcare and your future get on it say okay so number six has to be a taxable brokerage account this is like the cherry on top now you do this after you've leveraged all the benefits from a corporate standpoint you got to take advantage of the benefits that are already there you don't have any crazy personal highin loans
because it'll defeat the purpose of you getting this borage account if you have one of these store credit cards that is like 23% % interest 20 30% interest right you want to take care of that and bring that down but when you are at the upper ecolon we're moving through these stages and you're ready for taxable brokage account you can open it once again on any of the brokage firms that I mentioned earlier whichever one floats your boats right call customer service get a feel for it if you like the customer service maybe that could
be the best path for you to go to research the different ones and pick the one that works for you I open my mortgage account with Vanguard because I like the ETFs but the comparable ones at Fidelity 2 so really is up to you based on the one that you'd like to go with and this was one of the funds that I was able to pull from to be able to build my real estate Empire anyways as you know now cuz you know if you're watching this and you hear if you subscribe part of the
family you're an expert you're an expert at this point a brokerage account allows you to buy and sell investment like stocks bonds and so it helps you grow your money by you investing it in the stock market I want you to look at a brokage account as where you can invest your money for plans 5 10 20 years down the line the beauty about a borage account is you can put as much as you want it's not like the retirement accounts that we discussed earlier where they they put limits on it you can withdraw money
anytime without penalties on it and there's potential for your taxes to be lower especially if you are long-term investing cuz you know on this channel we talk about your longterm investing that's really where you're going to take advantage of compound interest and allow for your account to really grow so start small and keep it simple at least start so you can put even like 50 bucks in there every month and buy a lowcost Index Fund if you want more information about lowcost index funds you know I got you you know I done done a little
work little leg work for you I'll put a video at the end for you so stay tuned now I know you're busy and you're probably exhausted from all your responsibilities but here's the thing you're building the foundation for your hard-earned money to start working for you when I started to build these foundational pillars for myself I'd always think like how exhausted I was from all these corporate nuances and blah blah blah right like like I literally felt like I didn't have any more left in me but what sometimes kept me going was I was appreciative
because it's these high income jobs that will get these accounts blowing up like crazy for you because you're able to invest more and grow your account I was out here just dumping in thousands at some point into these accounts to grow them and the ETFs I picked some aggressive growth ones I'll do a video into specific ones that you can look into that really exploded my portfolio setting up these accounts gave me the foundation I needed to build real well that now I have that time flexibility I have Financial stability something that I used to
dream about and I desire that for you too okay so here's what I want you to do today today okay if you haven't gotten into all that we talked about today open just one of these accounts one okay just open one of them now the checking account doesn't count cuz I know you or at the very least learn more about the accounts that we talked about today then commit to having all these six accounts that we talked about as part of your long-term Financial pillars checking account we already got that high yield Sav account I
got a video on that for you 401k or employer sponsored retirement accounts look more into that and see if you can change the investment categories based on what you want for your Investment Portfolio Roth IRA take advantage of the 7 Grand that you can put in per year to be able to grow your tax-free retirement health saens account take advantage of saving for your Healthcare expenses and still be able to invest in it and a taxable brokerage account sis this is how you are setting up systems that build wealth for you over time there you
go that's your blueprint these are the six account for your blueprint to start having your money work for you while you're out here taking naps while you're out here sleeping so get on it so here are the videos that I referenced earlier okay and I know that you will enjoy it cuz I go in depth explaining some of these accounts and some of the Investments to look into for yourself I believe it's exactly what you're looking for and your sister has work to put it together for you okay so check it out but sis you
are highly capable to build the life of your dream cuz around here if you're a part of this you know that we already do it scared okay okay okay okay okay [Music]
