74. Financial Freedom is within your reach!

Howard Dekkers’ life journey has taken him from growing up in a lower middle class family in Detroit to becoming a self made millionaire whose single passion is to help others achieve their part of the American dream through the Howard Dekkers School of Success. On this episode of CFO at Home, Howard and Vince discuss the money lessons that he learned from his father, key principles that he teaches others to help them achieve Financial Independence, and more.

Key Takeaways

• Howard learned key money lessons from his father.
• • Howards’ father was a factory worker who never earned more than $35k/year but saved/invested 10% of everything he earned. Today he has $3M dollars invested that generates a $85k/month income. 
  • Howard didn’t follow his father’s advice until he reached his late 30’s, but yet has still reached financial freedom.
  • This advice allowed Howard to retire well-off, but he wanted to teach others how to become financially free
  • • Learning how to manage money is more important in wealth building than owning a business
    • Understand how money grows (compounding)
    • • If a 20 year old saves $95/month they can become a millionaire by the time they are 65. $51K of what’s actually invested, the rest is growth.  To achieve the same results, a 30 year old has to contribute $264/month, a 40 year old $754/month, a 50 year old     $2,400/ month.
    • Leverage the power of automated investing
    • Trimming basic expenses (expense coffee, high $ car payments, etc.)

Resources

• HowardDekkers.com
• Think and Grow Rich

Ways to contact/follow:

• HowardDekkers - FaceBook
• HowardDekkers - Instagram

Contact the Host - vince@thecfoathome.com