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What To Do Before Velocity Banking?

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Denzel Napoleon Rodriguez

Denzel Napoleon Rodriguez

Күн бұрын

Пікірлер: 307
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 3 жыл бұрын
Please beware of scams on KZfaq in the comment section. I never give out my number, I never use WhatsApp to conduct business, I do not offer investment advice on crypto currencies, this is your warning to avoid a scam.
@moriendus
@moriendus 2 жыл бұрын
Weird how a scammer is warning about other scammers, but ok.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 2 жыл бұрын
@@moriendus would you like to have a conversation and talk about scamming, the definition of it, how it works, and how I can potentially be doing that to people? I’m willing to speak to anyone that is worried or has doubts about my work
@wensot4067
@wensot4067 3 жыл бұрын
Velocity banking works! Once you understand it clearly and follow some simple steps it's life transforming. Thank God for you Denzel
@moriendus
@moriendus 2 жыл бұрын
No, it doesn't work any better than just making extra payments. In fact, it's worse. It's basic math.
@artfulsplashertees
@artfulsplashertees Жыл бұрын
@@moriendusthat’s what I was thinking! Just watched this video. I want to pay off mortgage earlier. Can’t see the difference with making over payments or using the velocity system.
@prepperboss
@prepperboss Жыл бұрын
@@artfulsplasherteeslook how each one is amortized
@prepperboss
@prepperboss Жыл бұрын
@@moriendusthen don’t do it, bet you have a 30 year mortgage.
@durtydurty829
@durtydurty829 Жыл бұрын
I am so excited about this. I was on Vacation last week and a flight attendant was telling me about Velocity banking. She stated using this method to rack up flyer miles for Free flights.
@nauticdixons
@nauticdixons 2 ай бұрын
How please?
@Moving2Win
@Moving2Win 15 күн бұрын
​@@nauticdixonsMost likely by paying things with the card, combined with SUB.
@fitnesschallenge1000
@fitnesschallenge1000 5 жыл бұрын
I like how you take your time explaining. I appreciate the very basic and simplistic language. Some financial videos are explained on another dimension that can lose a beginner. You keep everything basic and simple. I feel your focus is the audience vice showing us how financially smart you are. Great job! True genius is taking the complex and making it simple. I’ve also learned that if you can’t explain something simple, you don’t understand it enough. Thank you for your videos. I am in the game. Got my HELOC approved!...and have another debt weapon off to the side. Working 2k cash flow.
@josephbianchimano5672
@josephbianchimano5672 5 жыл бұрын
Denzel hermano , i cancelled most of my subscriptions your absolutley right , cancelled cable tv only using youtube , just created 600 dollars in extra cash flows and only have 1 more that will bring me too 794 extra cash flows . im focused like a pride lion , ,roar !
@69raylom
@69raylom 4 жыл бұрын
This info is outstanding. I wish I learned this on college. Wasted years of lost opportunity cost. Thank you
@arianaamores7147
@arianaamores7147 2 жыл бұрын
I’m in Renatus I’m so happy to hear you mention that company because u sound like a good man and I’m trying to apply this but there are so many money thirsty ppl who you can come across and not know what information to trust Some scammers tried to charge me 8000 in cash for copy cat info of retatus when i mentioned I already have the program and it did not cost me 8000 and I was able to finance they tried to tell me their program … I love the videos and thank you for the honesty
@annmcb
@annmcb 4 жыл бұрын
Denzel, forgive me for repeating myself, but you are such a great teacher; you surely were born to help people. I think you are talking to me here (some, not all.) I pray for your continued prosperity.
@masterthemindsetmiggz4339
@masterthemindsetmiggz4339 5 жыл бұрын
I use to be hardcore Dave Ramsey until I started to listen to the advice of GC and Matt Pullman from VIP Financial. I started using Credit cards with this same concept your teaching and it sped up the time dramatically And I was able to pay off 12K in debt and save and buy a house within 1 year of using Credit Cards as my debt weapon! Good video man I gave you a follow!
@kencampbell3599
@kencampbell3599 3 жыл бұрын
Y,w,. ;🔥
@davidreeves1596
@davidreeves1596 5 жыл бұрын
Good word I am one of those people with a negative cash flow need to figure out to get it positive. Just wanted to share something about high interest that I heard. "Interest is the penalty you pay for the right to own in advance something that you cant afford." Just let that sink in
@osmanali7865
@osmanali7865 4 жыл бұрын
That makes sense yoh!
@rafaelschulz6264
@rafaelschulz6264 4 жыл бұрын
You are a good preacher. I like you a lot. Listen to you is a blessing
@paulettegrant8618
@paulettegrant8618 4 жыл бұрын
I’m loving the simplicity of the principles this is what I’m striving to accomplish.
@betsyfortenberry8964
@betsyfortenberry8964 Жыл бұрын
If you have matching corntibution 401k, then that is 100% on your money in addition to the compoundng interest. I have 850k I wouldn't otherwise have if I didn't contribute to matching 401k
@user-cz1gu8nl9o
@user-cz1gu8nl9o 5 ай бұрын
Definitely takw advantage of matching progrmas.
@christopherturner4863
@christopherturner4863 4 жыл бұрын
Hey Denzel... I'm a new subscriber and I also follow you on Instagram, I've been watching you for two days and this message today turned the lights on.... Now I see how we can use our money more than one time.. Looking at the diagram all made sense to me... thank you for being a great teacher.... I look forward to following you and learning more take care and continued to be a blessing.
@rigelorlandogarcia3250
@rigelorlandogarcia3250 4 жыл бұрын
Bro, I listened you 2x speed and it was pure gold what you gave. Wanted to thank you for that
@suzannjohnson8259
@suzannjohnson8259 5 жыл бұрын
Wow! I’ve watched sooooo many videos on Velocity Banking and they never made sense until You explained it! Thank you! I even went to my bank and asked them to explain Velocity banking to me but they said they’d never heard of it! (Wells fargo btw)
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
I'm happy I was able to teach you
@romanmezmur4124
@romanmezmur4124 4 жыл бұрын
Hi Denzel.. I’m in sooo much debt.. Can you tell me how I can get in touch with you??
@lilylopez8925
@lilylopez8925 5 жыл бұрын
Thanks Denzel for such a good information! Made me feel like I can still survive after many financial mistakes.
@Intentionaltia
@Intentionaltia 5 ай бұрын
Christy Vann led me here!
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 ай бұрын
Working with Christy has been an awesome experience
@tptrading_23
@tptrading_23 5 жыл бұрын
And why is this not taught in school?? SMH. Wow I will be making alot of changes!!
@iamOAKland
@iamOAKland 4 жыл бұрын
Because it’s a parents duty not the govt.
@kevincecchini368
@kevincecchini368 4 жыл бұрын
Because big government and big business doesnt want everyone to win. thats my thoughts why not taught in class class
@MegaYoungday
@MegaYoungday 3 жыл бұрын
And also you can use a credit card to pay all bills and have the credit card linked to the debt weapon so it's paid on time every month, no interest paid and get cash back or rewards. Great vid bro.
@bigdano81
@bigdano81 5 жыл бұрын
Now! Now I get the full picture! Thank you! Getting it together so we can move forward with you. Thanks, Denzel
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
look forward to working with you dont wait too long my list is filling up. I only have like 9 spots left at my Tier 3
@luisasturias4833
@luisasturias4833 4 жыл бұрын
I just saw your video called “ what to do before velocity banking” and it makes perfect sense.. My wife is a tax preparer, last year I paid more money in taxes than what I brought home, and I always fight and yes we are living paycheck to paycheck , so how do I sign up? I need to learn this now..
@sarafox4375
@sarafox4375 Жыл бұрын
I hope this helps me. The title is right. I tried doing it right off the bat and like you said paying extra interest or fees to get it started. I found myself doing that making mistakes and having large fees.
@freddyperez8410
@freddyperez8410 4 жыл бұрын
Denzel, great job in explaining the strategy, one of the best ones I've seen. Question, at around 24:00 you talk about depositing entire paycheck into checking account and then dump it all onto the debt weapon only to transfer some back to the checking account to pay the rest of the monthly bills. Can you talk about the difference between doing that as opposed to skipping that step and just deposit the paycheck into the checking account, pay the monthly bills, and then the remaining balance dump it to the debt weapon to satisfy its monthly payment. Thanks and looking forward to your response.
@aru_aak
@aru_aak 4 жыл бұрын
The interest on your debt weapon is calculated on a daily basis. Hence, a huge balance on your debt weapon for so many number of days would mean that you are paying more money in interest compared to dumping all the money in debt weapon and withdrawing as and when you need them. It's the same amount of money you are withdrawing, but the timing matters because of how interest is calculated in your debt weapon. Hope this makes sense!
@tyjameson7404
@tyjameson7404 3 жыл бұрын
Remember.....the word RETIRED! 85 % of the word says......TIRED.....like Denzel said .....don’t retire 👍🏼🙏🏽
@jspecae86
@jspecae86 4 жыл бұрын
Ive been looking into Velocity Banking the past few days but the difficult part is paying my $2500 mortgage using LOC. You cant use your CC to pay your mortgage unless you use Plastik (?) and I read they charge a 2.5% fee for every $1k. During COVID-19, Ive been able to pay-down a lot of my debts l. Had about $16k in CC debt in January and its down to about $2700 as of July 11, 2020. Im really interested in Velocity Banking but I want to start with my solar loan as a test...and wont do that till I wipe out my remaining $2700 of debt. Keep up the good vids.
@mikeross883
@mikeross883 5 жыл бұрын
Good point on overpaying taxes. In Canada, if you get a $5000 tax refund each year for example, you can fill out a form T1213. This form allows you to get your taxes reduced at source each pay so you can reduce your taxes each pay and make your money work for you instead of the government. Add that in velocity banking and the opportunity cost is massive. I have advised this to many clients and not once has anyone ever told me they knew they could do this. Not sure the form to fill out in the US to do this but I am sure they have the same opportunity.
@kidmystery2010
@kidmystery2010 2 жыл бұрын
Retirement to me means I can do work that I enjoy doing. Work because you want to not because you have to.
@jewelsecs
@jewelsecs 3 жыл бұрын
I found you via Stephen Gardner. I am excited to learn more. Love the accents you used when talking here, I was laughing out loud! You kept it real. :)
@beckyshell4649
@beckyshell4649 Жыл бұрын
With velocity banking and any other system, you need to pay attention to where your money is going. I pay just about everything with a credit card and pay it off every month. I take highlighters and color code my expenses. I then total the different categories.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez Жыл бұрын
Awesome love it
@SLLLC-904
@SLLLC-904 Жыл бұрын
5/30/23… Thanks you so much for the education, information, and inspiration! You have my support and respect!!!
@shamikajacobs5193
@shamikajacobs5193 4 жыл бұрын
oh my Gosh!!! I loved 10:40 where your voiced changed...lol hahahah great information.
@daustin14441
@daustin14441 4 жыл бұрын
I really want to start using these principles. I checked for new account promotions Most banks have pretty high daily balance requirements. We would need to move all of our banking to one place to meet these requirements so that balances in our checking, heloc and savings accounts would be counted. I’m not sure it’s worth the extra $475 - $700 that you get in exchange for opening new accounts. We are not in the best position to qualify for new heloc accts right now. But I will put a pin in this for later. Please keep the videos coming.
@INOOT-INeedOneOfThose
@INOOT-INeedOneOfThose 4 жыл бұрын
We need to clone you, Young King!!! 🙌🏾🙌🏾🙌🏾 I’m directing my young adult niece and nephew to your channel. I keep urging them to get it right and done wait to get an epiphany in their 40s like me.
@amagh15
@amagh15 Жыл бұрын
I'm so blessed to find your videos!!! I was trying to save and create cash flow in my on way, but I find your video and I love the way you explained. Thank you and God bless you
@elainerobertson7329
@elainerobertson7329 Жыл бұрын
Oh my! That was truly eye opening and expl a ined so clearly. I believe velicity bznking will ch a nge many lives! Thank you, Denzel.
@MrMarcus-mn2vp
@MrMarcus-mn2vp 4 жыл бұрын
Dude you have the gift. Thanks for sharing the concept so in depth. I'm a subscriber now and look forward to going over your content. Salute!!!
@kevincecchini368
@kevincecchini368 4 жыл бұрын
$18/month on unnecessary expenses and $14 of it is used to listen to educational information and music I want to hear. Working on a spread sheet to use velocity banking. Also, know my expenses and I use to spend $1800 a year on lunches and work snacks, I stopped and used that to pay down debt. I now spend $25 a month or less. education and knowledge and change is crucial. and awareness
@ob2be1
@ob2be1 5 жыл бұрын
The part about retirement definitely challenged a perspective I've been taught all my life. I like that your videos make me thing and challenge the status quo.
@EllyKallan
@EllyKallan 4 жыл бұрын
Best motivational video I have ever heard!!!! 👍 TFS!!! Speechless!!!!
@geraldineb.9204
@geraldineb.9204 4 жыл бұрын
Thank you Denzel! I had watched a lot of videos of VB and get confused untill I watched yours..Thank you so much! Hope this will work for us
@eleazargarcia235
@eleazargarcia235 4 жыл бұрын
You can follow filling out W4 using the Income Tax Return calculator that the IRS offers online and follow directions closely.
@littlemissroxie
@littlemissroxie 3 ай бұрын
WOW!! Taking notes and implementing ASAP! 👍🏾
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 3 ай бұрын
Wonderful it’s crazy how this video is still getting views and I did it years ago
@SSupremePro
@SSupremePro 5 жыл бұрын
Great video! I like how you explain finances on your channel. Subscriber for life!
@dienekes4364
@dienekes4364 2 жыл бұрын
Quick note: the saying is, "know it like the back of your hand", not "know it the back of your head".
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 2 жыл бұрын
If I made you laugh or watch the video longer, then mission accomplished.
@dienekes4364
@dienekes4364 2 жыл бұрын
@@DenzelNapoleonRodriguez Oh, I watched it to the end, regardless. Love your content!
@luisrafaelburgos4996
@luisrafaelburgos4996 2 жыл бұрын
knew about it but never took action until now, Thank you
@ChatmansBow
@ChatmansBow 4 жыл бұрын
shifting your way of thinking is key.
@elgallo6626
@elgallo6626 4 жыл бұрын
I use a p.l.o.c. All expenses go to it and I pay off. It helps with paying large payment. I then use a heloc for investments. But you have to be very disciplined especially using this method. You cannot deviate from the plan.
@jasonax1523
@jasonax1523 Жыл бұрын
This is a great video. As someone who is new (first week) to having a HELOC, I need to know what I can do to maximize this tool. Your videos have helped to explain the process. I am still scared to pull the trigger, but getting more confiednt each day.
@mrblue21974
@mrblue21974 Жыл бұрын
Thank you for being non- partisan about this, tired of the blame game...great video!
@TheNOchick
@TheNOchick 3 жыл бұрын
i've never seen such a ministry.. you know what i mean @Denzel... wow really amazing for not only people but God's people specifically, cause the church folks are the main ones living in debt only think if i pay tithes here and there im just going to be blessed and still broke years down the line because they dont understand ALL OF kingdom principles.. well amen and may the Lord continue to bless you.. new subscriber and i dont subscribe to anyone!
@dl6622
@dl6622 5 ай бұрын
I would like to know how to start. I actually I’ll cut my cable $270 a month and I watch it twice a week. What a waste. Please let me know. Awesome video
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 ай бұрын
This is the best place to start you watched a good video here I put a playlist together that helps you cover everything before you start the concept. Don’t rush it go through the process and rethink your thinking along the way that is how you get the best results. kzfaq.info/sun/PLnF-b0Fck4Lib7XeYKntMvfKtUwkxSSU-&si=L2QslK4oTZUjRxwv
@lukewilson5941
@lukewilson5941 5 жыл бұрын
Okay Denzel, I can see how it can help people get out of debt but my partner and I are not in debt. We only pay rent, power, internet, food and fuel and are saving for a house. How can WE get velocity banking work for us? No one has a video on KZfaq explaining how people that ant up to there eyeballs in debt having to pay off personal loans, cars or a mortgage, how velocity banking can work even if you are just living or living and saving and how to get it to work for them? I'm pretty sure many of viewers would appreciate one of those videos and it would be a nesh market as no one has done it.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
Luke wilson I recommend looking at my channel I have plenty of videos doing velocity banking without being in massive debt. I’ve covered this many times already. Hang out a little longer on this channel and you’ll see. Saving for a house sounds like a long and lengthy process Velocity Banking can help speed that up. This concept is not just for paying off debt
@1StudMuff1n
@1StudMuff1n 3 жыл бұрын
I rolled my IRA into a Charles Schwab account because I did a test on my IRA where I didn't contribute for a year and noticed it gained $.25 I was 🔥
@jmb3d
@jmb3d Жыл бұрын
Thanks for the info. I've been trying to wrap my head around this concept. Subscribed!
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez Жыл бұрын
Take it slow watch more case studies and run the same math I’m running but on your own numbers so it becomes relatable
@jmb3d
@jmb3d Жыл бұрын
@@DenzelNapoleonRodriguez I watched your case studies and just ran my numbers last night using a 0% introductory interest rate credit card. Not even using the HELOC and just using 5K to payoff one vehicle will accelerate the payoff of our 2nd vehicle by next year. One of my large personal loans will get paid off next year (was happening anyway) and that cash flow will accelerate again to pay off 150K student loans and a 185K mortgage in 5 years if I did my math right. This is crazy! I'm thinking of trying this out. Not sure how people do not know about this?!
@mykilaughs5768
@mykilaughs5768 2 жыл бұрын
Great class! You speak with so much authority!
@josephbianchimano5672
@josephbianchimano5672 5 жыл бұрын
Denzel im slowly getting more organized , i will get my visa credit card tomorrow so i will set up auto pays for expenses, i also set up a zelle money transfer enrollment , next i will go to my bank and find out on how i transfer funds from heloc to checking and back to heloc , when i need to pay cash expenses , get into a rhythum every month . when you start Velocity Banking , its a little adjustment to mindset of using the HELOC like a checking account , !
@bookbearerplus
@bookbearerplus 5 жыл бұрын
Stumbled here and standing now to subscribe. Thanks!
@constantringingtech2230
@constantringingtech2230 4 жыл бұрын
You had me till you said retirement 'wuts that'. Seriously, while a person may WANT to work, not all employers want to keep elderly workers... let alone people who cannot do the work after 70. I don't want to be working till I'm 90. I'd like the last 10-15 years to be enjoyable and relaxing.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 4 жыл бұрын
Constant Ringing Tech I think we just look at things differently nothing wrong with that. I just haven’t made sense yet of the current idea of retirement. Warren buffet hasn’t retired yet, Ray Dalio hasn’t retired yet, Tony Robbins hasn’t retired yet, John Maxwell hasn’t retired yet, les Brown, Carl Icahn, Robert Kiyosaki, Grant Cardone, Donald Trump, Joe Biden, I can go on and on. Yet majority of average Americans retire at 59-65 and think life is over and they live off 40-50% of their income and just pay bills and die. I haven’t made sense of that personally.
@LucasHaines
@LucasHaines 3 жыл бұрын
I tend to think that life begins at retirement. It’s a whole new chapter where you get to do different things and have different goals because you GET to, not because you HAVE to.
@The357royal
@The357royal 5 жыл бұрын
Thank you my brother! You’re a blessing!
@jasonax1523
@jasonax1523 Жыл бұрын
Great video. The more I watch your videos, the more I am learning. This is a new concept to me and one I never heard of before. I want to be debt free and leave a legacy to my children as well. Looking forward to watching the next. One question though, with interest rates super high now, will my HELOC work for me? I secured one from BofA for 100K @ 9.37%. Most of your examples have been sub 4%. Makes me nervous if I got a good deal or not.
@jmb3d
@jmb3d Жыл бұрын
I'm in the same boat. I'm hoping to try it out too.
@Moving2Win
@Moving2Win 15 күн бұрын
Try smaller size chunk payments. Like 3 to 6 month principal payments.
@bridgettehines5125
@bridgettehines5125 Жыл бұрын
At 7:24 you suggest to cut off retirement saving. Unfortunately I have used $ from my retirement to buy buy and then fix the roof my house. I'm 59 and whatever I had is way less than I would have had , had I not used it. My company matches up to 5% of my contribution. Where will I be getting $ from when I no longer work? My investments have gone down and that was before this economy. I tell myself I have 7-10 (sounds like jail time) more years to work to hopefully pay off my house. I've made many, many financial mistakes and savings? I have none. No extra $ after bills either. I feel like I'm on a chopping block. I really wonder if you'll see this and respond. Thanks either way for the videos. I'm beginning to understand this VB stuff. 😅
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez Жыл бұрын
Thank you for sharing what's your question be specific how can I help you?
@kenharris8743
@kenharris8743 4 жыл бұрын
I can retire and live forever I have hobbies and I love my hobbies!
@triad6425
@triad6425 4 жыл бұрын
Velocity banking is just a way to force you to pay down debt by constantly paying down a revolving line of credit and it saves you a small amount of interest.
@maritzadavis7909
@maritzadavis7909 4 жыл бұрын
you are authentic and you make me a believer!
@daniellejones8460
@daniellejones8460 Жыл бұрын
This was humbling imformation. I am still learning. Still in that Dave Ramsey mindset.
@celiaferreira2028
@celiaferreira2028 26 күн бұрын
@18:00 Denzel drops gems💎 thanks for few new fantasy mentors❤
@sergiohernandez-fz2xx
@sergiohernandez-fz2xx 3 жыл бұрын
I'm retiring at 58 no matter what to spend time with family nobody likes to work but we have to can't buy time
@vanessac8036
@vanessac8036 4 жыл бұрын
You are on point!! Thank you, Denzel!!
@tyjameson7404
@tyjameson7404 3 жыл бұрын
Love the fantasy league concept 👍🏼👏🙌🏼😂👌❤️
@bookbearerplus
@bookbearerplus 5 жыл бұрын
Pleaser tell me you're a born-again believer?
@benben-sx4xb
@benben-sx4xb 18 күн бұрын
Tu eres un duro
@gvpminc
@gvpminc 5 жыл бұрын
Wow - Denzel what a wonderful education, with your thorough explanations I come to realize that it makes sense. God Bless you my friend! Thank you and may you bless more people with this teaching.
@waifungilism2004
@waifungilism2004 4 жыл бұрын
What happens from paying into your debt weapon to paying off your debts is you are accruing another form of debt. Where is the cash flow coming from when you have to pay monthly debt?
@velocityc
@velocityc 5 жыл бұрын
Great job man!
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
I'm a fan thank you
@hwnsylke123
@hwnsylke123 4 жыл бұрын
Yes! I LOVE LOVE LOVE thrifting!!!
@kidmystery2010
@kidmystery2010 3 жыл бұрын
Its not how much you make but what you do with it.
@k.lynnecollier7763
@k.lynnecollier7763 2 жыл бұрын
Agreed. What is retirement?????? Watching tv and losing mobility.
@petert7807
@petert7807 5 жыл бұрын
I have no debt, a good positive cashflow, and a credit line of 12k. What kind of assets can I buy that will increase my cashflow??
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
Fake Work your in the same position as my girlfriend what I have her doing is funding her tax free bank we can have a conversation together about that in detail. Some of my other clients that are debt free are on that same path. Here’s my email Denzel@buildertocontributor.com
@user-lc7zt8sk6i
@user-lc7zt8sk6i 4 жыл бұрын
@@DenzelNapoleonRodriguez May I join the conversation? I have no idea how to create a tax free bank. In the mean time I'll continue to browse your video section.
@ps7424
@ps7424 4 жыл бұрын
I don't understand how Velocity banking can erode the 20k debt in 10 months when the debt snowball will likely take at least 21 months? Fundamentally we have cashflows of $600 + $145 + $188 giving us a debt hammer of $933. So if we ignore any interest payments and we do $20000/$933 we get 21.4 months. To do that is 10 months would require a debt hammer (free cash flows) of at least double at $1800/month. Have I missed something?
@pjtugman
@pjtugman 5 жыл бұрын
I also just increase my cashflow bye 120 more per month just a little bit of looking were to cut wow unstoppable if you put your mind to it
@hendrick32
@hendrick32 4 жыл бұрын
Love the breakdown! Thank you for this great information!
@kwest9925
@kwest9925 4 жыл бұрын
How soon do you pay off the credit card after you us it to pay your bills? And what is the difference between the due date and the 1 month credit card period
@miccals.l8873
@miccals.l8873 5 жыл бұрын
awesome review, will watch it again.
@lberry152008
@lberry152008 Жыл бұрын
Macys is now 31%. I paid that one off, zero balance now
@kennycharles6041
@kennycharles6041 2 жыл бұрын
Good information Denzel!
@mattrichardson617
@mattrichardson617 Жыл бұрын
Ok. Stop. Cut off your contributions to retirement? Well, I'll give you a very, very good reason. Income taxes. For those of us in higher income tax brackets tax deductions, much less a 100% tax deduction like a 401k or traditional IRA contribution provides, are strong reasons to contribute to a retirement account. I do realize that you would be able to use those extra funds to pay down debt much faster, but at what expense? Unrealized gains in the stock market and a nasty tax bill? Circumstances vary of course, but for many people not contributing is not a good solution. It's not all about debt, but how much you can keep and accumulate.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez Жыл бұрын
It’s an option not required. It’s a suggestion I make to some people that have no idea where their money is going into the their retirement accounts. Most do not know returns their making, the costs per year to invest, the risk they have, and many other factors with retirement accounts. Out of the hundreds of 50+ year old men and women in the United States that have successfully funded their retirement accounts all through their working years for at least 25-40 years like your supposed to do. I’ve never met one person that has enough money to retire on a live according the lifestyle they desired. Their retirement accounts did not keep up with inflation, costs of living, medical costs, and taxes. The biggest thing they didn’t account for was losing money in those accounts. One bad dip can costs someone 10+ years to recover and make the money back. From this perspective as a 27 year old having this first hand experience with hundreds of clients double my age all over the US I personally do not fund any taxable retirement accounts especially 401k and traditional IRA. I only fund tax free accounts for long term wealth and accumulation. Lastly I teach my clients how to control their money in other accounts not give it up for others to hope and pray for an average rate of return and hope for the best
@lifewithjusto7777
@lifewithjusto7777 2 жыл бұрын
Wow I came across your video thanks a lot
@kidmystery2010
@kidmystery2010 3 жыл бұрын
Retire? No way. I will change the work i do, doing things I enjoy. But retire in the conventional sense, that will never happen
@StanOnDemand
@StanOnDemand 3 жыл бұрын
I'm a new subscriber. I've been watching a lot of videos and found them to be quite helpful. So thank you sharing. Question I have is, If you have a credit card as a debt weapon, how do you transfer money from that to your checking account without paying some sort of fees? Not all bills can be paid with a credit card and so if we send all of earned income and cash flow into debt weapon after paying off a bad debt, how do we get the cash to pay for bills that require cash payments? (Cash payments as in, checks, money order)
@bigl1705
@bigl1705 5 жыл бұрын
Big ups on this vid bro respect
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 5 жыл бұрын
big L thank you 🙏
@geekasauruswreks8789
@geekasauruswreks8789 4 жыл бұрын
I used to be in accounting. I know quite a bit about W-4s and would be happy to share my knowledge.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 4 жыл бұрын
If you join my private Facebook group you could really provide a lot of value on the topic of the W-4. It’s called Velocity Banking Family.
@geekasauruswreks8789
@geekasauruswreks8789 4 жыл бұрын
@@DenzelNapoleonRodriguez I just applied.
@Fogaata
@Fogaata 7 ай бұрын
@22:46 how does the payment just made become cash flow and deposited back into the checking account? Explain please? Thank you.
@fortgrove3166
@fortgrove3166 2 жыл бұрын
I will not stop contributing to my ROTH IRA. And I am fortunate to have a pension at this point in my life. My point is if you have access to a 401k company match, contribute.
@DenzelNapoleonRodriguez
@DenzelNapoleonRodriguez 2 жыл бұрын
I appreciate your input
@shyshy808
@shyshy808 Жыл бұрын
Praise The Lord that I came across this video.
@yourmovebro8650
@yourmovebro8650 5 жыл бұрын
retire TO something not just AWAY from something.....
@celinecormier2060
@celinecormier2060 4 жыл бұрын
Brilliant! Thank you so much for that wealth of knowledge ...
@mikeashexperience9602
@mikeashexperience9602 5 жыл бұрын
Dope Video! Sending blessing your way, Keep inspiring!🎒🙌🏻
@henryatakora6619
@henryatakora6619 4 жыл бұрын
Bro!!!! Thank you soo much... Blessings.
@leonflores9461
@leonflores9461 5 жыл бұрын
Me only phone $55 and internet $17 ( internet is split between 3 people). None of that crazy subscriptions.
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