On today's episode I sit down with Khalil as we discuss the following topics:
Net worth vs Income
- Net worth is slightly more important, our generation-is obsessed with multiple streams of income but not increasing net worth
Discussing the difference between investing in RE vs stocks at our age.
- Which is more opportunistic, a better ROI, and why risk is a considerable cause for concern.
- Focused on dividends and dividend growth companies for a consistent passive income and remain above inflation.
Discussing liquidity And Cash flow as a millennial
- Bank accounts, high yield savings accounts, 401ks, Roth IRA, high growth dividend stocks.
Rent to income ratio and how poorly we manage that:
- You should only be spending 30-35% of your monthly gross (not net) income on rent. Anything higher is a mismanagement of cash flow or relative to high cost cities i.e. NYC, San Fran, Chicago, LA.
Top cities we would move to and why
- Understanding the cost of living adjustment.
Discussion on growing your “brand”
- In your mid 20s is the time to realize the job you do right now is a specific skill set, the demand for that skill set outweighs the supply. Leverage your value in the system, increase your network.
Maintaining a consistent workout schedule with you work life and Balancing responsibilities
- Khalil is currently studying for the CFA level 1 in addition to daily meditation and working out
