5 Small Changes That Will Improve Your Life
The Finance Geek
by Denzel Rodriguez
4y ago
 Recently I have started talking about mindset shifts here on the blog - while this topic is always sprinkled into my YouTube, Facebook, and Instagram content I'd like to dedicate a moment to further discussing ways to improve your life and your Kingdom once you understand Velocity Banking and have your finances in order.   We all know that maintaining a firm understanding of your finances removes many stressors from the average person's life - many people who have all of that under control still don't have their Kingdom in order. So, let's talk about 5 things you can work on every day that wi ..read more
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Launching Your Kingdom
The Finance Geek
by Denzel Rodriguez
4y ago
 Today we are going to be talking about how to launch a business for your Kingdom, and how to choose an entity type for that business. So first things first, what are the different options? Sole proprietorship: A sole proprietorship could be right for you if you want to run a small-ish operation, with a few employees or contractors. For this type of business, you need to be comfortable making 100% of the business decisions. + there is no legal paperwork involved (apart from local licenses/permits) - It can be hard to get financing since banks and investors see a sole proprietorship as a risky ..read more
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Creating Passive Income for Your Kingdom
The Finance Geek
by Denzel Rodriguez
4y ago
Now that we have taken on creating Activity Income for your business, it's time to talk about Passive Income and the dream of "making money in your sleep" you hear so many entrepreneurs talking about. Learning how to create Passive Income is the key to running a sustainable business. The goal is to have your Passive Income equal more than your Activity Income - when you get to that point, that is the true definition of financial freedom. In the realm of Velocity Banking, your Passive Income is saving and investing. So when I refer to saving, I am mean establishing a tax-free asset. When I sav ..read more
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Multiple Streams of Income | Why Do I Need One?
The Finance Geek
by Denzel Rodriguez
4y ago
So, let's start at the beginning because on a basic level, we've already discussed the two main types of income streams, Active and Passive. Active Income is income earned by actively putting forth effort to create income while Passive Income is the income you earn in your sleep. Many of us are already hustling and bringing in a second stream of income, whether we realize it or not. Did you know 4 in 10 Americans have a side hustle or a source of income that is outside of their standard paycheck? Now you're wondering - what are the benefits to having multiple streams of income? Well, I'm here ..read more
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Building a Team for Your Kingdom
The Finance Geek
by Denzel Rodriguez
4y ago
Our sixth step in building our Kingdom is deciding if we're ready to build a team. Let's say you've 10 X'ed your income and you are starting to get overwhelmed by the amount of work that has started to come in. As you build your business and your influence tasks you once saw as “relaxing busy work” may begin to feel tedious. This is one good sign that you are ready to outsource and hire people to help you grow your business. So, I’m sure your next questions is, Denzel, what do you need to look for when I start to build a team – what are my first steps? Don’t you worry I have 5 things for you ..read more
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Do I Need Life Insurance?
The Finance Geek
by Denzel Rodriguez
4y ago
I hope you're enjoying your morning, afternoon, or evening, and you decide to hang out with me to learn more about a topic that most of us associate with less than pleasant issues, Life Insurance. I choose to use life insurance; differently, I think life insurance can be used for wealth creation - as an asset tool. The goal of people like me is to minimize - minimize your premiums, which means the cost of insurance, and maximize cash value growth. If you want to know more about how life insurance works and what questions to ask when thinking about buying life insurance watch "What to Know Ab ..read more
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Developing a Gratitude Mindset
The Finance Geek
by Denzel Rodriguez
4y ago
I went to a training this spring where we really focused on the concept of the gratitude mindset. This really flipped my views on what my next steps in my business would be, so I wanted to share the most significant pieces of gratitude mindset and how you can apply gratitude mindset to your life, every day.  What is Gratitude Mindset, you say? Well, it's the action of seeing the upsides instead of the downsides to the situations around us. Or if you like metaphors, we will be working to see the glass as half full instead of half empty. Many people look at their circumstances and see that they ..read more
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Funding Your Kingdom
The Finance Geek
by Denzel Rodriguez
4y ago
We've been going over some vital lessons on how to establish your Kingdom, how to protect it, how to create activity income, passive income, and most recently acquiring tools for your Kingdom. Now, we're going to start stepping into funding your Kingdom using the Velocity Banking concept to your advantage. Even after you're completely debt-free, you can continue to utilize Velocity Banking strategies to maximize your business productivity. Velocity Banking's primary use is actually to make money and invest money. That's what real estate investors and business owners are doing with their funds ..read more
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What is Borrowing?
The Finance Geek
by Denzel Rodriguez
4y ago
To get a grasp on a new to you financial concept, I recommend asking 3 questions: What does it mean? How does it work? How can it change my life? So let's start with the definition answering the question "What does it mean?" Borrowing is a temporary possession of money with the intent to repay the amount borrowed. In a financial sense, if you borrow money, you assume a debt to the lender, this debt contains the principal amount plus interest. Time to break that definition down. We have two parties when we talk about borrowing - we have the person who needs money (borrower) and the person who ..read more
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Tools for Your Kingdom
The Finance Geek
by Denzel Rodriguez
4y ago
To have a prosperous Kingdom, you need to have the right tools. We need tools to help us build, maintain, and grow our Kingdom. I'm going to show you the tools that I currently have, and then the tools that I'm looking to acquire as my business and Kingdom grow. This is part four in our Establishing Your Kingdom series, and it's been wonderful seeing the action people in the community have taken over the last month. To start, you must know your finances. You need to know where every dollar goes. "How do I know where every dollar goes?" You look at your accounts. Open up your financial statemen ..read more
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