For Young Professionals

1 Hour

All levels

20 lessons

5 quizzes

83 students

Overview
Curriculum
Instructor
FAQs

Financialize IT! for Young Professionals

It’s a long journey, but I’m ready to walk you through it every step of the way. Part of the program is making smart financial decisions. It might be really difficult sometimes, especially at first. The first twelve months getting your finances straight could be the hardest twelve months of your life, but folks, you’ll be happy you did it. Once you keep going, you won’t even remember how hard it was, because you have developed proper financial skills and habits. A lot of these lessons will be videos like this. Sometimes you’ll have accompanying handouts with supplementary information. You’ll be applying these lessons to your own financial plan too, so make sure you pay attention. I’m not just yapping at you. Here’s the best part: the program includes the full financial services of Sikes Financial, so you’re not alone during the course. First you’ll watch a few videos to get started, then you’ll be ready for your one-on-one meeting with your financial advisor. So get your notepads out, because this information is about to change your life. I’m excited, and I know you are excited to make some money moves. Remember, your goal is a $2,000,000 net worth in 20 years. Welcome to Financialize IT for Young Professionals!

Curriculum

5 Sections
20 Lessons
1 Hour

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Sources of Income
You’ve heard the term ‘there’s more than one way to skin a cat?’ Thank goodness that’s not what we’re talking about today. There is, however, more than one way to earn some income too. In the following lessons we’re going to describe, identify, compare, and understand about the 5 sources of income recommended in this course.
5
Asset Allocation
Think of asset allocation in terms of different food groups. Remember in elementary school, they taught us about nutrition and food groups? You can’t eat only bread or carbs our entire life. We also need fruits, vegetables, protein, and sweets. The same concept applies to asset allocation.
5
Credit Card Debt
We all want a FICO score of 720 or higher in this program. When your credit score is good, you typically pay lower interest when you take out a loan. You get access to better loan terms. This especially pays off when you talk about large loans like your car or mortgage.
5
Percentage Budgeting
Let’s say you only know your total monthly expenses. What if something happens and you need to adjust your budget? You won’t even know where to begin without percentage budgeting. Let’s get better equipped to make changes for better or worse, if necessary.
5
Cash Reserves
You’ll learn how much cash reserves you should have on hand before deploying your disposable income elsewhere and how much you potentially could deploy toward other opportunities. Plus, how many months you could go without income before your cash is depleted.
5

Mr. Eric Sikes

As a parent of teenagers, he developed the Financial Survival Kits for Teenagers and Parents program to complement the core curriculum and lead parents to apply these skills with their teenagers and have meaningful financial conversations with them.

Is it possible for me to reach the recommended target net worth goal of $5.8 million or $2 million by only investing into one asset class like securities, real estate, or business ventures?

It is possible, but not likely and definitely not wise. All investments require risk, so you should diffuse risk by allocating funds across all asset classes. You don’t want your success to be at the mercy of one asset class’s performance. It is far more possible to reach the target net worth by taking advantage of diverse investment opportunities.

How do I increase my total monthly income although I don’t foresee receiving a raise anytime in the near future?

Your salaried job is only one source of income available to you. You can look to increase your monthly income via contract work, real estate ventures, business ventures, and interest from investments.

When should I start allocating my assets into other asset classes, like cash, securities, real estate, or business ventures in order to improve my total sources of income?

You should start as soon as you have the funds to do so. You might need to build up some cash to deploy toward one asset class first. For specific advice, you can discuss with your financial advisor during your one-on-one meetings.

How much of my credit card debt should I pay off to increase or maintain a 720 credit score?

Each month, you should pay off 10% of your balance until you are borrowing 27% of your available credit limit.

What is the difference between cash reserves vs emergency fund?

Emergency funds are for short-term needs, while cash reserves are for long-term. For example, you have emergency funds available for car trouble, while you have cash reserves available to make a large purchase or take advantage of an investment opportunity.

What’s the optimal amount of cash reserves should I maintain in a separate account at all times?

You can decide between two recommendations: one year of total income or one year of total household expenses.

Is it possible to increase or decrease my monthly expenses without affecting the amount of disposable income available to me each month?

Yes. Once you build a percentage budget in the course, you can understand your budget in categories. This gives you a more organized and focused look at your expenses, so you will be better equipped to make wise financial decisions and pinpoint areas you might need to change.

How is the course billed, and what is your cancellation policy?

After the one-time $50 setup fee, the course is billed 30 days in arrears (at the end of each 30 day cycle). You can cancel 30 days in advance.

Requirements

Earn an annual income of $60,000 from all sources of income.
Desire to accumulate $5.8 million or $2 million net worth with in 20 years
Committed to establishing multiple sources of income
Required to docusign the ongoing financial planning agreement
Provide Government ID and proof of US Citizenships

Features

Ongoing one-on-one meetings with a licensed investment advisor fiduciary to hold you accountable and verify you are on track to your clear financial net worth goal.
Build and follow a plan to a clear financial net worth goal of $5.8 million or $2 million within 20 years
40+ video course lessons supported by handouts to understand and apply important financial principles.
20+ new financial news video applying current financial news to essential financial principles.
Unlimited Financial Plan Reports to track your progress and make important financial decisions

Target audiences

Ideal for ages 20 - 45 years old
Full time employment and/or Small Business Owner
Like puppies and drinks chardonnay (not a dealbreaker, just a plus)