Ideal Life & Money Academy

What to do if your life feels too full....   Decide what you want your life to look like. Is this 80 hours a week with the big pay check OR 40 hours a week with less money OR 20 hours a week with even less money?     This comes down to knowing our 5 Steps to Financial Freedom!   1) Starter emergency fund   2) Pay off all your debt (except mortgage)   3) Fully funded e...

Can you invest into retirement while being self employed???   YES!   In the US, you need to opt in to the retirement options. Example, IRA or 401(k) options.   In Australia, the retirement plan is Superannuation. You can opt to not put money into Superannuation while being self employed.     The three things you MUST invest in throughout your life: #1 - Yourself   #2...

We don't like being told what to do. Even if it's correct. Especially when it comes to money.     We want to guide you. We want to share what has worked for us and we know it will work for you as well.     Being open to trying something new will change your life. This is true with it comes health, wealth, food, life, anywhere it will be beneficial.     Comment below:...

It is possible! Money can still come in while self employed. Similar to being an employee and having paid time off (PTO), you can set up your life/business up to have income come in while you take time off.     Coach Mike has set up $2,500/month to automatically move money from the business to personal banking account. This income can come from online business (such as ILMA), being a con...

Have you ever struggled or been scared that you can't rent a car with a debit card? AKA using a credit card only. Ever heard, it's impossible? Well, it's just not true. You CAN rent a car with a debit card. May need to show a return flight if renting from an airport. Lesson learned: plan ahead and you will be okay with transportation. There are always options for you to get around in a new place!

Do you earn $50k/year? $100k/year? or even $500,000 per year!!!???     AND you still can't seem to get ahead. Feel like you make too much money to be broke....     It's all about mindset and your behaviour. Money is 20% head knowledge and 80% behaviour. Once you are in control of how you give, spend, and save is when you will start seeing your wealth grow.     The 4 S...

Don't invest your money without these principles! This is a sneak peek at one of our lessons inside the ILMA Investing Course. If you are interested in saving and investing for your future, check out the course here: https://www.sentinelcoaching.com/investing Top 4 Principles: 1) NEVER invest in something you don't understand! 2) Avoid Debt to Invest 3) Understand your risk tolerance (how much are...

Whether you take vacations or holidays, this is for you!     Coach Mike & his wife (Elle) have been traveling for over 8 years. Started in a 4WD in Australia, then needed a break and headed to South East Asia (Vietnam specifically), and now in the US traveling around doing RV life.     You can choose to spend $20,000 on one trip that is a few weeks long or you can choose to...

Investing can be scary. We've been there!   Now we are confident when we invest and want to show you how to do the same.     #1 Just start learning. Watching videos, reading, podcasts, etc. (about investing obvisiously)     Mutual funds/ETF's are what we invest in. Now, all of our investments are inside these types of funds. We invest in both our retirement accounts and no...

Many people waste the inheritance their parents or grandparents worked so hard to save for them. Don't be like most people. Honor those who handled money well and left you this gift! You've all heard stories about people getting inheritances and blowing it all at once, buying stuff they don't even use, or even just sticking it in savings.     Think about the PURPOSE of that inheritance....

Investing into retirement accounts vs non-retirement accounts? It depends. (AND it's never too late!) It's always tax beneficial to invest into retirement accounts before non-retirement accounts. Coach Mike has focused only on one at a time in his 20's. Leading to his net worth to be about 50% in retirement accounts and 50% in non-retirement accounts in his 30's. Reminder, this is only once you ar...

When it comes to investing (aka money) you will want to follow these 10 Principles: 1) Never give up control of your money 2) What you focus on grows 3) Choose investments that are powerful and stable 4) Consider taxation and inflation 5) Maximize the use of your assets 6) Diversify, but don't over-diversify your investments 7) Risk catergories: conservitive, medium, & volatile 8) Multiply inv...

F.I.R.E. = Financial Independence Retire Early How much is enough to stop working or to retire? What does your retirement look like? Travel? Live off grid? Sail the world? Stay with friends/family and having deep connections? Then, what does it cost? Reality is that is doesn't have to cost much. Elle and I have been traveling for over 8 years and we have had multiple $20,000 years that we spent in...

Winning the lottery is everyone's dream. But for most, it's a nightmare - Here's why Whether you play the lottery or not, you've probably thought about - or dreamed about winning. What would you do with all of that money? What SHOULD you do with all that money?     I recently saw an article that someone won the lottery, quit their job, and donated a bunch to help their community. This is...

Ever received a financial windfall? What would you do with it? A bonus from work, sold something large, an inheritance, or winning the lottery are all financial windfalls. Have a system in place for your money because you will receive financial windfalls throughout your life! I believe you could look at getting a pay check every week or every month as a financial windfall. He's my system no matter...

Do you want to invest $1,000/month? Yet you are only investing $50/month? These are the steps that are a must to get you to investing $1,000's. Deciding to never go back into debt AND pausing my investing of $50/month was the hardest and best thing Coach Mike did to get to investing $1,000/month! Coach Jason had to have a plan for his money. It was disappearing until he had a plan. He needed to ST...

When the market is volatile, should you get in or wait it out? If you are a beginner investor, it can be quite scary to invest when the markets are volatile. How do you know if it will continue to drop or if it will rebound? What is the best way to invest when the news channels are telling us to "hold on"? The key to investing, even when the markets are volatile is to learn and get some experience...

When it comes to investing, time is your friend. But on the flipside, time can also be your enemy. You see, the longer you wait to save for your future, the harder it will be to create the wealth to sustain your lifestyle. In this lesson, we walk you through the mathematics of what it would cost you if you waited to invest. Also, you can use the retirement calculator with your own numbers to help...

Dictionary.com = "expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property" #1 rule: NEVER invest in something you do not understand! Our definition of investing is for long-term. Long-term is 5 years or more. Anything less, there is a higher chance of the "investment" going down in value before that 5 year mark. Some exampl...

Just like negotiating with your career/salary, negotiating can be used in many other areas. Food is my favorite thing to negotiate on as I tend to shop at markets. When I am buying fresh fruit and veg, I ask if they "would take $10 for this box" of bananas or ask "how much does $5 get me?" Those are my initial go-to's, but there are many ways to negotiate (or even barter) to get deals. Reminder: E...

5 Easy Steps to Financial Freedom Starter Emergency Fund (min $1,000 up to 1 month of income) Permanently pay off all debts except the mortgage Fully Funded Emergency Fund of 3-6 months of expenses Save/Invest 10-20% toward your future (retirement and/or bridge accounts) Pay off your house early Celebrate reaching Financial Freedom! Steps 1-3 are done in order and before you start any investing St...

I love eating out...how about you? There are so many amazing things about eating at restaurants, but there are some negative things too. The biggest thing is it's so darn expensive now. So, how can you still enjoy restaurants without breaking the bank (or your budget)? In this video, I give you a few ways to save money on eating out so you can do more of it, and get your dollars to stretch further...

Are You Investing For The Wrong Reason? Investing. Everyone has an opinion on how to do it right. But as a culture, I think we have gotten this wrong. Many people invest for the wrong reasons. What about you? Why do YOU invest your money? In this video, I walk you through the REAL reason we should invest our money and how to view these investments. Don't be like "everyone else" and invest for a bi...

We all have natural tendencies when it comes to everything we do, even money. In this video, we are going to talk about some natural and unique ways how you spend and relate to money. Starting with: are you naturally a spender or a saver? Next, are you a nerd or a free spirit? You will be better at one than the other. For example, I am a natural saver and a nerd. I love saving money and playing wi...

Here is a conversation we had about the most common Credit Card Myths we run into. Be sure to check out the ILMA Budget/Debt Elimination Course: https://www.sentinelcoaching.com/ilmabudget