What would be a good percentage to use, you know, so that way I can just keep the same number going in there all the time. Yeah, you know, I don't really like percentages too much. I like actual numbers because I could say, like I could say like ten percent, fifteen percent, but it really just depends on your situation. So I always try to look at like discretionary income, so like how much money is left over at the
end of the month. So that's the first Like first we got to see like how much money is left over at the end of the month, right, So it's like one of two things is happening either and this is just like broad range statement. Either you have money left over at the end of the month where you don't, or you're running in a deficit. So if you have money left over, you got to see how much money
you have left over. So if it's like, Okay, I have a thousand dollars left over after all my bills are paid, after you know, I have some fun every single month, I have at least a thousand dollars left over, right, So just using that that number, I personally would probably do somewhere along the lines of like putting thirty percent of that money into like savings until you have you know, six to twelve months of savings, because that's important, and
then I probably would look to invest thirty percent. So now that's like sixty percent of the money right there, and then maybe you know, twenty percent will go to you know, a kid's account, twenty to fifteen percent or go to the kid's account, and then the left the
rest is just kind of left for like miscellaneous. So that's what I would kind of go by more so than like, you know, just a percent of like your total income, because I could say ten percent of your income, but if that might be too much, So it's really more of a percentage of your discretionary income, and the discretionary income I would say probably like twenty percent twenty to fifteen percent of discretionary income that you can afford to you know, put away.
Okay, thank you. I appreciate that man that helped me out a lot.
No, no problem, brother, I have a good one. All right, Tyran, we're coming to you on yourself.
Please.
Hell, I'm good in euroshage.
I'm good.
I'm good.
All.
I have a question, what are the disadvantage of an escort? I kind of think, I know a little bit about the advantages in compassing to an LLC, but what are the disadvantage of a S card.
It's more structured. I think this business had actually told a class about this. But you have to pay yourself a salary, so especially like if you're not making you know, that much money off if the business is just starting out, it could be kind of pressure on you to you know, have payroll. So that's something that you know, definitely could take into consideration. Like I forgot the number that she said, but I think it's like one hundred thousand dollars something
like that. You should be making like one hundred thousand dollars in your business before you go to es corporateute, because yeah, it's definitely it's definitely a lot more structure.
But the off the top of my head, I would I would think that that would be something that you know, you just definitely have to consider because you definitely have to put yourself on payroll and you know, where as like a regular LLC, you could just you know, not pay yourself a month, two months whatever if not no money's coming in or you just want to just you know, you're real within that month so that's something that's taking
to consideration. Especially a lot of businesses, especially when they first start, cash flow is very up and down. So you know, if your cash flow is up and down, you want to make sure you getting to a point where you have some level of consistent cash flow.
First, okay, thanks very much, that answered the question.
Thanks all right, you'd be coming to you on yourself please.
All right, good morning, thanks for coming. My question is I have to questions. My first question is, let's say, like example, like I have a mortgage that I was trying to pay early between like for like within seven to ten years. And also let's say if I have some money that's coming in. Let's say, like if I have like probably like two to five thousand, so like should I put it in the market even I do have automatic.
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That's been that contribution that I make every month for my investment on the stock market and crypto and stuff like that. So should I keep the best things for me to do? Should I like put that money in the stock market or should I put it toward my mortgage? Even like in the future, I want to like to invest more and and real estate. So what's where we be? Yes, but what we suggest I.
Mean, I think you could do both. I don't think I don't think it has to be a one dy the situation. You know, you want to see what's most what's most important? Is paying off your house more important? Or do you think you can get a better return in the stock market? And especially if you got a low interest rate, it might be more advantageous to put the money into the market because you know your opportunity costs is probably greater investing in the stock market. But
that doesn't necessarily mean that you can't do both. So you know you could maybe if instead of if you was going to put two thousand dollars a month into paying into your mortgage to pay it off, you know, a lot quicker, maybe you put five hundred dollars a month, right, you know that's still going to add up over the course of the year, and you know you could still
knock off years of paying off your mortgage. So I would I always say, you know, see what's most important to you, But you can definitely do both, especially with that with that amount of money. It's not like it's you know, a couple of hundred couple of thousand. You can definitely, you know, allocate money to both of them. But the opportunity costs will probably be better investing in
the stock market. But I also understand, you know, if you don't want to have the mortgage forever and you want to pay off the property sooner, so you know, maybe maybe you just do some calculations and see how that will work out if you if you did it for just a little bit less money than you would have done originally.
My other question is what what the difference between like qq.
Q and q q q M.
You broke up a little bit, what you say, what's the difference between like qqq and q q q M.
I think QQQM Troy know QTE the t but yeah, let me make sure I get a right information on that.
I think it's the mini QQQ, but I would I would like to know if there's a difference like from from the percentage of return or the amount of stacks that that that they invest in. Was that one is around like three something and then the qq M is on like one something.
Yeah, let me let me look, let me look, I have Troy doing research on it.
Get back to you on that. Okay, thank you appreciate. And also for form irate rough area for kids, So like do they have to be a certain age for to start a rough area for kids? Yeah?
Yeah, they have to be well yes and no, they have to if you doing it. If you're not self employed, then they have to be a working age, like they have to have a job. The working the age depends on what state you live in. But as long as they have working papers and they have a job and they actually have to be working, that's another thing. So as soon as they're able to work, you can do it.
But if you're self employed, it's a little different because you can actually hire your child before they legally have like working papers as long as they're actually working and they can actually do a job. So obviously, like you can't hire a two year old. But like if you have like somebody that's like ten or eleven years old and they're actually doing you just have to be able to justify it in case you have to get audited. But you have more flexibility and you can hire younger
if you're self employed. But if the child is working just a regular job whenever, if they work a job, then they could you could put money into the IRA.
It's so basically you cannot do it in course your account for the IRA. Yeah, yeah, no.
It's it's a custodial count. It's just it's a raal ira. Still you still you still like the child is still a minor. The child's still a minor, so it's not like, you know, you got to set it up for them and you put the money in. But you know, you can have a custodio account where it's just in the market and there's no retirement account attached to it, or it's the retirement account, but it's still it's still a custodio account.