I. You Got This!

We ask students to introspect about what they would attempt if they knew they couldn’t fail.  We then ask them for a leap of faith that we can help them to achieve that goal no matter how grand, using proven principles of success and specific knowledge.

1. Outline of the economic realities they face including institutional disadvantages such as lack of financial literacy and lack of generational wealth.

2. We identify income data realities and layout average household budget for a family of four. The shortfalls are made apparent with a challenge as to how to overcome.

3. The magic formula to financial success is revealed.

4. The virtue of hard work is presented as a pre-cursor to self-confidence and self-esteem.

 

II. Credit – The great equalizer between rich and poor

1. Explanation of how good credit can level the economic playing field

2. What credit is, who tracks it, and why.

3. Why good credit is so imperative. Real life examples discussed

4. Understanding what elements are tracked and why. (Do they report? Utils)

5. How to build good credit

6. How to fix bad credit

7. How to pull your own credit for free

 

III. Economics 101 – Understanding the world we live in

1. Discussion of different types of economies 

2. Basic terms and concepts are identified (Adam Smith)

3. Overview of how it all comes together

 

IV. Our Banking system

1. Understanding the Federal Reserve System and why it was created

2. Local banks

3. Using a checking account

4. How to obtain a mortgage

 

V. Basics of Investing – Things the rich teach their kids that our parents did not

1. The secret to all riches – buy assets

   • Examples of assets and liabilities

2. Types of assets and their yields

3. What is a corporation and how can I own one?

4. What’s the fuss about Wall Street?

   • The NYSE and other exchanges

5. Understanding ROI

6. Demonstration of how money grows with compound interest

   • Would you rather have a $1m or a penny doubled for 30 days?

   • 20% compound for 4 years = double your money 

 

VI. Taxes

1. Different taxing entities and the different types of taxes are reviewed with a discussion of what the taxes are primarily used for

2. Income taxes.  Different tax brackets are identified within our progressive tax structure.  Students will discuss whether or not it’s fair in theory and in practice.

3. Various deductions are considered.  Students are again asked to consider is it fair?

 

VII. How to Start your own Business

Students will identify what they need to start a construction business

1. Assessment of the market need – Who will buy and how much will they pay?

2. Capitalization – What equipment etc. will I need and how much will it cost

3. Marketing – How do we get the work?

4. Labor – Who will do the work and how much will we pay and in what form.  1031, W2.  Advantages of both.

5. Identifying gross revenues, fixed and variable costs, to assess profit.

6. Accounting  - How will we keep track of our business.

7. Filing taxes – Do we do it ourself or hire a pro?  How much will that cost?

 

VIII. Balance Sheets and Financial Statements

1. Students will learn how to read balance sheets and will make one for their mock start up business.

2. Students will learn about financial statements and will make one for themselves to uncover their current net worth.

 

IX. How to Win Friends and Influence People – Dale Carnegie

1. First 4 chapters of “How to Win Friends…” is assigned

2. We will identify key characteristics and techniques on how to influence people through countless examples as told by Dale Carnegie.

3. Students will write a paper on which techniques are most impactful to them and discuss how they would apply these techniques to achieve their goals

 

X. Success Principles – Napoleon Hill

1. First 5 chapters of Think and Grow Rich are assigned

2. Students will learn the golden formula for reaching their goals through countless stories from successful people from colonel sanders to Carnegie to Rockefeller to FDR. More recent success stories of persistence.

3. Desire plus faith plus persistence equals success

4. Students will identify the objects of their desire and write a concise plan for how they will achieve it through specific sacrifices over specific timelines.

 

XI. Real Estate 101 – Different ways to make money

1. Understanding what realtors do, how they are paid and how to become one.

2. Wholesaling

3. Flipping

4. Rentals – 20% return plus 3% appreciation.  Track the growth.  Consider one rental house over 30 years

5. Lease Options

6. Tax advantages

  

XII. Real Estate – Assessing a house

1. Understanding what items need repaired and how much each one costs

2. Student will learn to use our property evaluation form and could earn apprenticeship which would provide one on one training

 

XIII. Real Estate – Assessing value through comparable sales

1. Student will become familiar with how to use Zillow to determine the value of potential deals

2. Student will learn most pertinent attributes of a house in determining comparable sales

 

XIV. Real Estate – Getting started with little or no money

1. Contract Assignments

2. Land Contracts

3. Tapping into asset-based lenders with good credit

4. Partnerships

5. Most ambitious students may be offered partnership opportunities

  

Core Values:

• There is a power greater than us that wants us to do our best and help others. If we do this, we are already the greatest kind of success.   

• There is no such thing as something for nothing: Sacrifice is required

• Hard work is a virtue all to itself and will lead to self-confidence 

• The right thing is almost always the hardest thing.  Doing it will lead to self-esteem

• Desire + Faith + Persistence will always lead to success.  The path will be quick when combined with specialized knowledge.