I'm revealing the 75-10-15 rule that will allow you to build wealth regardless of how much you earn.

It's a system that adapts to your income level, whether you earn 10,000 or a million dollars a year.

Because no matter how much you earn, you're always gonna follow these three steps.

First, for every dollar that you earn, 75% or 75 cents of it will be the maximum amount you can use to spend to buy things.

Housing, food, vacations, Mr. Magic Lamps.

If you can spend less than 75% of your income, that's fantastic.

But the beauty of the 75% limit is it gives you flexibility and encourages you to do two key things.

First, it forces you to look for cheaper alternatives.

Premium gas or regular, organic free-range guacamole or regular, whole foods or Aldi's.

So most of the wealthy people that I know share this common trait, which is what I noticed after starting my own business and networking with other entrepreneurs, which honestly is a big deal for me because I'm naturally an introvert.

But the most unexpected and revealing moment was when a bunch of us went out for dinner after an event and everyone was asking the waiter for happy hour specials and the cheapest wine they had.

And I kid you not, when the bill came, people literally pulled out their phones to calculate how to evenly split the bill so everyone only paid for exactly what they had down to the last cent.

And keep in mind, these people were all millionaires.

Next, the 75 limit forces you to focus on value.

You've probably heard countless times before to stop buying coffee and instead save and invest that money.

But I believe that's the wrong way to look at it.

Instead, before you make any purchase, you should ask yourself, how much do you value the thing that you're buying?

If that $5 iced coffee makes you the happiest person in the world, makes you more productive, social, and reduces your stress for the rest of the day, then chances are the value you get from that cup of coffee is way more than the $5 it costs.

So go get it.

Instead of grasping at the little purchases and attempting to save money, it's more effective to focus on the bigger expenses, a brand new car, 100-inch TV, or a cheese dispenser.

The thing with big purchases is they'll make you happy for a temporary amount of time.

But after that initial honeymoon period ends, your happiness level is right back where it started.

Then that 70K car just becomes a regular old car with the same functionality as every other car.

So if you manage to spend less than 75% of your income, like you only spend 60% of it, then I need you to hold on to that 15% difference because I'm gonna show you what you need to do with it in a bit.

Next, the 10 in the 75-10-15 rule says that for every dollar you earn, you should save at least 10% or 10 cents of it for this thing called a cushion fund.

A 2022 study found that as much as 56% of Americans can't afford an unexpected $1,000 expense.

Think of your cushion fund as a cash reserve that's specifically set aside for financial emergencies.

And emergencies don't include a wild night out, vacations, or fried chicken cravings.

This money should only be used when pretty much all hell breaks loose, when your house gets flooded, when you get stranded in the middle of nowhere and have no other options, basically when your life is fubar.

So about eight years ago,

I got into a really, really bad car accident that pretty much destroyed the front of my car.

I was in a completely different state and I didn't know anyone, but the mechanic said that it was gonna cost about $15,000 to fix.

And I was really stressed out because I had no idea how I was gonna come up with this kind of money.

I even considered taking on a loan, even though I knew that the interest for it would easily cost way more than that amount of money.

But then I remembered that I had my cushion fund saved for emergencies just like this.

The good news is determining how much you actually need in your cushion fund is simple.

Open up a spreadsheet and take account of all your monthly expenses.

Rent, pineapple pizza, bills, multiply this total by five.

If your monthly expenses are $2,000, you generally wanna save for five months of expenses.

So your cushion fund is $10,000.

Once you have your total, you need to commit to saving this amount.

I built this savings goal tracker to help me save money a lot faster.

I just put in how much I wanna save and then I can track my progress and visually see where I'm at.

For a limited time,

I'm giving away my ultimate savings goal tracker for free with the link below.

But what's even more important is where you store your cushion fund.

While most people keep their savings in a traditional savings account like Chase or Bank of America, there are much better places called high yield savings accounts or HYSAs because they give you much higher interest rates which allow you to grow your money a lot faster.

With traditional savings accounts like Chase, the national interest rate is 0.5% APY.

Meaning if you put $10,000 in the account, at the end of the year, the bank is just gonna give you $57 in interest, leaving you with $10,057.

On the other hand, a high yield savings account can offer you 4% APY.

Meaning at the end of the year, they'll give you $400 in interest, leaving you with $10,400.

I'll leave some high yield savings accounts you can check out below.

But an even bigger problem is most people don't know when to stop saving money.

The reality is you don't always wanna just save your money forever.

Once you have your five months worth of cushion fund, stop saving and just hold on to that 10% amount you were gonna save and I'll show you what you need to do with it next.

The 15 in the 75-10-15 rule says that for every dollar you earn, you should invest at least 15% or 15 cents of it for your future.

And there are two specific accounts you should start investing with to optimize your taxes.

You basically wanna funnel any extra funds that you have into this particular step because the whole point of the 15% rule is to put your money to work so you can build assets and wealth because real wealth is built by owning assets.

The problem is we were only taught how to make money from our work and labor.

That's pretty much what school teaches us.

How can you get a high paying job?

But the wealthiest people in this country don't make their money from their job.

They make their money from their assets.

And after reading Rich Dad Poor Dad by Robert Kiyosaki,

I realized that you can be completely broke with a high paying job.

But if you have assets, you can spend all your money today and still be wealthy next month.

But unfortunately, like many people,

I never learned this in school nor did our parents teach us this.

I pretty much had to go out of my way to learn this from reading and studying finance with books like Psychology of Money and The Intelligent Investor.

But this is one of those things that once you learn it, you can never unlearn it.

But if you don't learn it, you might never learn it.

And if you don't learn it, you're never gonna be able to build true wealth.

There are two specific investment accounts you should start investing with because of major tax advantages.

First is the Roth IRA, which is an individual retirement account.

The main advantage of having a Roth IRA is that your earnings and profits grow tax free.

That means when you retire and withdraw their earnings, you won't pay any taxes on it at all.

For instance, Peter Thiel famously grew his Roth IRA account to $5 billion.

And what's wild is that when he decides to withdraw from it, he's gonna pay $0 in taxes on it.

The caveat is that you can only contribute money that has already been taxed, meaning after you received your paycheck.

And the Roth IRA benefit is so great that the government limits how much you can contribute to it.

In 2024, if you're under the age of 50, you can only contribute $7,000 a year into a Roth IRA.

And if you're over the age of 50, you can contribute $8,000 a year.

It's a pretty straightforward four-step process to both open and contribute to a Roth IRA.

First, you need to have what's called earned income, meaning that you need to get your income working for someone else, yourself, or a business that you own.

Second, you wanna go to any brokerage website like Fidelity, Schwab, or Vanguard, and select the option to open a Roth IRA account.

Third, once you have your account open, you wanna transfer money from your regular bank account to your Roth IRA account.

Fourth, and please make sure you pay attention because many people completely miss this step and wonder why their Roth IRA account hasn't grown in 20 years.

And it's because you actually need to purchase some investments in the account.

Don't worry about what you should invest in.

I'm gonna share my favorite investments later where I can basically just set it and forget it.

The second account you should invest with is the 401k, which is an employer-sponsored account, meaning you can only have a 401k account if you work for an employer that offers it.

But thankfully, many companies do.

Unlike a Roth IRA, all your contributions to the 401k is made with pre-tax dollars, meaning you'll pay taxes on the money later.

The idea is many people's income will be lower when they retire, so people are expecting to pay a smaller amount of taxes on the money in the future compared to now.

You basically assign a portion of your paycheck to be contributed to the 401k, and this account has a much higher contribution limit of $23,000 per year as of 2024.

One of the biggest advantages of the 401k is that many employers offer an additional benefit where they match your contribution, basically meaning they give you free money.

The most common employer 401k match is a 100% match for the first 3% you contribute with a 50% match for the next 2%.

It sounds really confusing, but basically if your salary is $65,000 and you maximize your contributions up to the employer's match, you will contribute 5% or $3,250 in a year.

And in return, your employer would immediately match and give you another $2,600 for free, no questions asked.

Totaling $5,850 in your 401k.

And again, it's basically like free money for you and your retirement in the future.

So if your employer offers this, this is an absolute no-brainer.

So after you have either one of these or both of these retirement accounts, you need to figure out where to invest your money.

And before I tell you what I personally invest in, here's a practical reason that the wealthy invest in assets.

If you invest just $100 every month for 50 years at a rate of return of 10%, at the end of the 50 years, you would have only contributed about $60,000.

But from overtime in the stock market and returns, your total portfolio value will be $1.4 million.

Also, Moomoo, the investment app that I personally use is giving away five free stocks valued up to $10,000 if you open a new account and deposit $100 with my link below.

Anyways, for most people, investing in an index fund or ETF is all that you really need to do.

Basically, instead of investing in one stock that can either go up or down, with an index fund or ETF, you actually invest in hundreds of different stocks.

You automatically diversify your money and reduce your overall risk, meaning you can pretty much just set it up and forget it.

For example, if you were to buy an S&P 500 index fund, by buying that one fund, you would own a small percentage of every single stock in the S&P 500, thus you track the entire index.

That would automatically provide you with diversification because your investment is now spread across the top 500 companies in the US.

And by buying an index fund, it's actually a lot cheaper than buying into each of these 500 companies individually on their own.

Index funds are usually a great safe bet in retirement account because based on the average over the course of the past 80 years, index funds have been proven to return about 8% a year.

Some years are naturally gonna be higher than others, but on average, you can expect your money to grow and compound over time.

So with most of my money,

I invest in passively managed index funds like FXAIX or VOO because it's easy and really straightforward, but you can invest in whatever you like.

There are a ton of ETFs and index funds out there.

And if the funds that I choose aren't available in your 401k, you can just look for another type of index fund that invest in a lot of companies in the US and you should be pretty golden for the most part.

Which leads me to something that you've got to start accepting.

And it's that even if you're trying your hardest to be better with money, sometimes you might still feel like you're not doing enough.

And that might be because you don't know the 10 things you should never waste your money on.

Click here to learn the 10 things you need to stop buying immediately.