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Knowing average retirement savings for your age can give you a good idea of how you stack up for your ride into the sunset.

Check it out below.

AGE AVERAGE RETIREMENT SAVINGS 32- to 37-year-olds $31,644 38- to 43-year-olds $67,270 44- to 49-year-olds $81,347 50- to 55-year-olds $124,831 56- to 61-year-olds $163,577

Economic Policy Institute

The hard part of thinking about retirement is that it’s often discussed with charts and numbers in the abstract. It helps when you can see the actual steps and actual person took to save for their retirement.

To prove it, we talked to four different readers about their retirement savings. What they told us was revealing, fascinating, AND occasionally contradictory to typical investment advice.

Let’s jump in.


DAKOTA, 25 – $18,000 // “I didn’t have a model for saving money.”

Income? $56,000 / year

Family? “Married. No children.”

Retirement savings? $18,000

Rent or own? Rent. $1,800 / month

What’s your job? IT coordinator at a consulting...

Asking for a promotion is an extremely stressful moment in your career.

  • “What if they say no?”
  • “What if they laugh me out of the room?”
  • “What if they don’t see the value I add to the company?”

Just thinking of the possible answers can make you sick.

But if you’ve tackled larger workloads and added tremendous value, shouldn’t your job title adequately reflect your increased value?

It’s time to ask for a promotion or a raise.

You’re going to learn exactly how to turn a typically uncomfortable conversation into an enjoyable discussion and how to make this a no-brainer decision for your boss.

Knowing how to ask for a promotion can make you rich

Consider these three points:

  1. A promotion conversation can take as little as 10 minutes.
  2. A promotion can propel you to the next level in your career.
  3. Many of my students and friends who’ve used the techniques I’m going to share have learned how to ask for raises of $10,000 or more.

Even if a promotion only gets you half of that (a $5,000 raise), it adds up dramatically over time.

Take a look:

A lot of people think that having a second income means you need a part-time job like:

  • Waitering
  • Bussing tables
  • Bartending
  • Getting yelled at by angry customers

…when that doesn’t have to be the case.

Having a good second income idea can even help you make passive income (i.e., money that you don’t have to constantly work for to earn). It’s just a matter of having the right systems and being willing to dedicate the time to building your side hustle.

You’re about to learn those systems and the exact steps to come up with second income ideas.

3 steps to find great second income ideas

There’s a three-step system that you can use to find great second income ideas today. Your immediate goal by the end of this system is to have one good idea that has earned you at least $100. Once you have that, it becomes much easier to earn $1,000 and beyond.

That’s one of the beauties of having your second income ideas: They’re easily scalable. You can make a lot of money if you’re willing to devote just a little time to it. BUT if you’re busy in other areas of your life, you can just as easily scale back.

To start, though, you need to find a great second income idea.

Step 1: Find great second income ideas

Most people make this step way too complicated, usually because...

Think of all the favors you might need:

  • A job referral from an old boss
  • A friend to teach you how to cook a meal to impress your girlfriend
  • An introduction to the founder of a startup you want to freelance for

Favors like these can act as turning points in our life. But sometimes it’s hard to ask for a favor — especially if you’re shy and not too confident about the process.

Today I’m going to teach you the five simple steps to ask for a favor and actually get what you want.

How to ask for a favor in 5 steps

Each year on my birthday I ask my readers to do me a simple favor: Comment telling me how IWT has personally helped them

You know what happens? I get more than 500 comments every time. People LOVE telling me about landing their dream job, eliminating $45K of debt, earning $10K on the side, and more.

This is the best gift I could hope for. I don’t need cookies or new clothes. I just love hearing how my material has helped other people.

This is just a tiny favor. I’ve also asked for bigger ones like getting a bunch of my entrepreneur friends to contribute to an e-book I was working on.

So how do you ask for a favor and get great results?

Use the following 5 steps:

Deciding on a freelance hourly rate can be nerve-wracking — especially if you’re a new freelancer.

You don’t want to charge too much and lose potential clients. On the other hand, you don’t want to undersell yourself and lose out on potential profits.

So what’s a new freelancer to do?

Luckily, there are a few rules of thumb that you can use to find a good freelance hourly rate to start with. I’m going to walk you through each one and even give you a tip on how to RAISE your rate in the future.

Let’s get started.  

3 key things to remember for a good freelance hourly rate

Before you jump into the rules of thumb to calculate your freelance hourly rate, keep in mind three things:

  1. Remember your overhead. Freelancing gives you a lot of freedom and flexibility when it comes to when and where you work. However, freelancing can also be a cost burden in unexpected ways too. You need to factor that in when considering your rate.  

    For example, you might rent out a coworking space (~$200/month). You’re going to need internet (~$50/month). You’re going to need phone service to take client calls (~$70/month). All of that added up is...

What is a bad credit score (and what to do about it)

The world of credit scores can be confusing. It’s filled with esoteric jargon like “credit risk” and “FICO.”

I want to help you cut through all the BS and get down to one really important question:

What is a bad credit score?

The answer? Anything less than 670.

Anything below 670 and you’re at risk for higher interest rates on loans (if you get approved at all), getting denied an apartment rental, or even passed up on a job application.

But there is hope. You can improve your credit score even if your score is less than 670.

We know because we talked to someone who has been there.

How this entrepreneur crawled out of debt and escaped her bad credit score

Credit score then: 600 – 650 Credit score now: 789 Debt owed: $12,000 in credit card debt and $35,000 in student loans

Meet Kelsey Jones.

Kelsey is a writer, entrepreneur, and founder of a marketing company called Six Stories. Though her business is thriving and she and her husband are on solid financial footing, that wasn’t always the case.

In fact, her credit score took an absolute beating after college due to a problem that happens to many college students: They don’t understand how credit cards work.

This put her in a prime position to fall into debt and kill...

A quick one for today:

Which of these money messages did you grow up with?

  • “Save for a rainy day”
  • “We don’t talk about money in this house”
  • “Rich people stepped on someone to get where they are”
  • “We always have money for education”
  • “Money comes, money goes”

I’m collecting a list of money messages around us — think “invisible scripts for money.”

Please leave a comment below sharing one money message you heard while you were growing up.

What’s one money message you grew up with? is a post from: I Will Teach You To Be Rich.

Good side hustle ideas can open the door to unlimited earning potential.

However, we have limited willpower as humans.

Think about how so many of us go about doing something like creating a side hustle:

  • Stage 1: Decide you want to have a side hustle. (“I think I want to have a side business so I’m my own boss!”)
  • Stage 2: Get excited about the prospect of earning more money. (“I can’t wait to do what I love AND get more money! I wonder how much tickets to Cabo are this time of year?”)
  • Stage 3: Try to come up with side hustle ideas. (“But wait, what’s my business going to be?”)
  • Stage 4: Get overwhelmed, dejected, and give up. (“I can’t come up with a good idea. I guess I’ll just keep working for my boss…”)

We’re not going to do that though. Instead, I’m going to show you exactly how you can create your own side hustle AND give you a list of great side hustle ideas as a launching point.

Three questions to find great side hustle ideas

One thing...

Real estate investing can be a great way to make a lot of money if you do your research and are prepared to devote a lot of time to your investments.

However, it’s also a great way for investors to lose money. I believe that real estate is one of the most overrated investments in America, and very few will show you real numbers to explain why.

That’s why I want to break down the facets of real estate investing, show you a few ways you can get started (if you want to), and reveal the myths behind real estate that you won’t hear anywhere else.

Let’s get started.

Real estate investing: 3 ways to do it

Here are three ways you can approach real estate investing:

  1. Investing in a REIT
  2. Buying a rental property
  3. Flipping properties

Some ways are better than others depending on your financial situation and goals. While I’m not a fan of real estate investing, I do believe that if you’re going to do it, you...

Your credit report dispute letter is a letter you send to credit bureaus to dispute any errors that are on your credit report.

And it can be CRUCIAL to improving your credit score. Because the smallest error can affect your score.

For instance, if your credit report says that you were late on your payments when you actually paid them on time, that affects nearly a third of your credit score, since 30% of it is determined by the amount you owe.

That’s why it’s so important to dispute any errors you find on your report.

With so many credit report dispute letter scripts out there, which do you choose?

This one:


I want to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.

  • X is wrong because Y. I have attached a receipt showing this.
  • A is wrong because B. On December 21st, I sent an email (“Correct my record”) requesting the change.
  • C is wrong because D.

I have also included my payment records. Please make sure that these errors are rectified soon.


BUT let’s take a step back and get a bird’s-eye view of this letter, why it works, and the exact steps you need to take in order to dispute errors on your credit report.

How to dispute errors on your credit report (with scripts)

I asked my readers how they improved their credit scores a while back — and disputing errors on their credit reports was one tactic that...

Your credit score is the biggest determining factor for your mortgage.

Lenders look at other things like your income and job history, but none of that matters if your credit score is in the toilet. That’s why knowing the score you need for a mortgage is the first step in buying a house.

What is that credit score though? The score you need to hit to be able to qualify for most conventional mortgages?

At a minimum: 620.

BUT(of course) it’s a bit more complicated than that. The minimum credit score can vary depending on your specific financial situation, your debt-to-income ratio, and which mortgage you choose.

The different types of mortgages

The world of mortgages can often feel like the Wild West — a dramatic and confusing place with unwritten rules that can end your journey at any second. Only those with grit (and a high credit score) can survive.

And in this chaotic land, there are two kinds of mortgages you can get. They are:

  1. Conventional mortgage. These mortgages are insured by private lenders. The biggest of which are the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae).
  2. Government mortgage. These are mortgages that are insured by specific government agencies.

Future homeowners also have the option to choose between three different types of loans within government mortgages. Those are:

  1. FHA loans. These loans are insured by the Federal Housing Administration and given by a private mortgage lender. These mortgages are popular because they require a small down payment when...

Ahhh! Enough with the same old boring posts about engagement rings!

Yes, we know the diamond industry wants us to spend more. Yes, De Beers is evil, and yes, synthetic diamonds are flooding the market, and yes, I saw “Blood Diamond” with Leonardo DiCaprio. And yes, we know about your aunt’s cousin’s brother who got a ring for $2.59 and they’ve been happily married for 80 years.

That’s great.

But when I decided to propose to my girlfriend, I started doing research — and I found myself getting increasingly frustrated. I had real questions.

What type of ring should I get? Do the “4 Cs” really matter? Is this jeweler going to rip me off? Do I really need to save two months’ salary?

I did a quick Google search and I felt myself getting even more frustrated. The advice on other sites told me to “do my research,” “find out her ring size,” and “pick my budget.”

Uh … I ALREADY KNOW THAT! No one addressed the real questions I had.

So, I did my own research and now I’m going to show you exactly what I ended up doing, including:

  • The exact word-for-word conversations I had to get on the same page with my girlfriend about the kind of ring she wanted
  • How I navigated the “cost” issue — including what I discovered about what really matters when buying a ring
  • What I learned from an NYC Diamond District jeweler who broke the diamond industry down for me

This is the stuff you won’t find...

You can make expensive purchases without feeling guilty or judged. Let me show you a few examples.

To start, if you want to learn how to make any expensive purchase, you need to remember two systems:

  1. Conscious spending
  2. Automated finances

Those two systems will help you save for ANYTHING with enough time and money — and you can do it passively.

The best part? You can then make your expensive purchases guilt-free.

Think about how we typically approach making an expensive purchase:

  • Step 1: We see something we like
  • Step 2: We feel guilty and know we shouldn’t buy it
  • Step 3: We buy it anyway
  • Step 4: We feel even MORE guilty later

Repeat until your guilt forces you to relinquish all material goods and devote yourself to a life as a Buddhist hermit.

IWT isn’t about guilt. Though, I have no emotions so it’s difficult for me to relate.

Let’s stop feeling guilty and start using the systems that’ll let us make any expensive purchase we want.

How-to-make-expensive-purchases system #1: Conscious spending

Conscious spending is a fantastic system to spend money on anything guilt-free. It’s the same system my friend uses in order to spend more than $21,000 on going out.  

There’s a difference between people who consciously spend on things they love — even if they’re expensive — and people who simply buy whatever they want and deal with the consequences later.

When you consciously...

If you want to learn how to give advice that people actually listen to, there are two things you can do:

  1. Empathize with the person — and not act like an emotionless robot.
  2. Find people who want to listen to that advice.

That’s it. Not following these steps will have you feeling like you’re giving advice to a brick wall.

I know because I spent years doling out unsolicited advice and wondering why people weren’t listening to me.

For example:

FRIEND: (sighing) I hate banks.


FRIEND: They just charged me $34 for an overdraft fee. That’s like the third time this month.



I really wanted to help … and I knew the “right” answer.

But my friend wasn’t ready to hear it, so it landed with a thud.

It took me a few years to discover that people don’t like to be lectured about things they already know they’re doing wrong.

Can you think of any examples? Like, say, being in a bad relationship (“He treats you so badly! Why do you stay with him?”), losing weight, or money.

For a...

You know what would be great? If we could always be ready for the unexpected.

Like, say, dropping a comically oversized bottle of champagne worth thousands of dollars like this dude.

Here’s a system that can help you prepare for even the worst emergencies WHILE allowing you to save for awesome purchases in the future:

Sub-savings accounts

Sub-savings accounts are fantastic for setting concrete savings goals for any purchase you might want to make in the future.

I’m talking about big purchases like weddings, engagement rings, homes, and even emergencies and dumb mistakes like when I got hit with this late registration fee for my car awhile back.

Now I put away $150 / month in a sub-savings account for unexpected expenses like this one.

Let’s break down what it is, where you can get one, and how you can set one up today.

What is a sub-savings account?

A sub-savings account is an account you create to save for specific purchases or events.

Using my automated personal finance system, I use monthly automatic transfers to funnel money into each of my sub-accounts. Now that these transfers are in place, I’m getting closer to each of my goals automatically, month after month, without having to remember to set money aside.

This is precisely how people accomplish financial goals passively....

Here’s my investment portfolio:

Investments in a diversified portfolio are spread out among different asset classes. Within assets, investments are diversified even further (e.g., international vs. domestic equities). This is a solid example of a diversified portfolio.

BUT before you start trying to match my portfolio, you need to know one thing: My financial situation is, in all likelihood, VASTLY different from yours.

If you want your own diversified portfolio tailored to your specific financial situation, I can help you do that. I’ve helped thousands do it through my New York Times best-selling book already.

Let’s get started by taking a look at what being diversified actually means and how it can help protect you from the whims of the financial markets.

The importance of asset allocation and being diversified

Imagine two farmers: Olivia and Andrew.

Both are the same age and each has bought a hundred acres of farmland.

Andrew decides to grow corn (and only corn) on his land. He dedicates 100% of his acreage to the one crop. As such, his initial season brings him in a good amount of money since there are plenty of people who want corn.

Olivia also grows corn, but only dedicates 50% of her land to the crop. With her other acres she grows soybeans, alfalfa, and even a pumpkin...

David Domzalski was just beginning to process the ultrasound images of his first son when his wife told him that she wanted to be a stay-at-home mom.

This meant becoming a one-income house, and that meant their debts would take longer to pay off.

It also meant the young family would soon be house poor.

House poor means that the majority of your income is going towards your home’s mortgage, utilities, repairs, etc. — leaving little money for other expenses such as the phone bill, groceries, and, well, everything else.

You might be rolling your eyes right now and saying to yourself, “You gotta be kidding me! Why would anyone put themselves in such a bad financial situation for a house? That’s ridiculous!”

It’s not that simple.

Being house poor is like being in a crappy relationship. It’s so easy to judge and scoff at things like, “Ugh they are so bad for each other. If they just broke up, they’d be WAY happier.”

But when you’re the one in the relationship, it’s an entirely different story. You’re almost blind to the reality around you. You’re more willing to bury yourself in excuses like:

  • “Maybe things will change if I just keep working hard at it.”
  • “I’m committed. I can’t give up now!”
  • “What if I never find another as good again?”

And sometimes all we see is the picturesque Norman Rockwell version of things when reality is much more painful.

(I apologize for any high school relationship flashbacks I triggered.)

There are a lot of reasons someone ends up house poor....

Learning how to make $100,000 is a common goal for many entrepreneurs — and why wouldn’t it be?

Here’s a list of things you can get with $100,000:

  1. An actual jetpack
  2. Country legend Willie Nelson to perform at your birthday party
  3. A private island off the coast of Ontario, Canada

There are many ways you can get to earning six figures a year. The two most common ways are:

  1. Getting a job that pays six figures a year
  2. Starting a side hustle and scaling it so you’re eventually making six figures a year

However, it’s not going to be easy. Building out a side gig so that it helps you earn six figures a year is going to take time, a few sacrifices, and sweat equity. So does up-leveling your full-time job. But what’s below is a system that has been followed by thousands of our students successfully.

BUT WAIT! Before you start building six figures …

Repeat it with me: The biggest barrier in the way of a Rich Life is debt.

The biggest barrier in the way of a Rich Life is debt.

The biggest barrier in the way of a Rich Life is debt.

The biggest — you get the picture.

Before you even think about systems and tactics to scale your earnings to six figures, you need to get out of debt.

Once you do, and you begin to earn more, you’ll find that paying off any regular debts you might have is actually empowering instead of debilitating.

“I’m surprised at how my...

Debt sucks. There’s no way to sugar-coat it.  

And if you’re one of the 80% of Americans who is in debt, it’s hard for you to even begin to consider investing or saving your money.

That’s because debt is the most common roadblock keeping people from living a Rich Life — preventing them from being able to enjoy themselves and the money they have.

That’s why it’s important for you to learn how to get out of debt as fast as possible so that you can focus your energy on earning and investing instead of worrying about whether or not you can make your next payment.

That’s why I crafted a five-step system to help you do just that. It’s the same one that has helped THOUSANDS of people get out of debt faster than they thought possible:

Step 1: Find out how much debt you have

Step 2: Decide what to pay first

Step 3: Eliminate temptation

Step 4: Negotiate a lower interest rate to save thousands

Step 5: Decide how you’re going to pay off your debt

Bonus step: Live a Rich Life

WARNING: Getting out of debt isn’t easy. Hell, this might be one of the hardest things you ever do. But it is possible — and I’m here to help you.

To understand this system, we need to first take a look at the...

Improving your credit score is potentially worth nearly $100,000.

Consider two people:

  • Abby, who has great credit (760)
  • Derek, who has poor credit (620)

In their 30s, they decide to buy houses of similar prices. How much do you think they each pay?

Spoiler alert: Not the same amount.

Check out the graph below:

Source: Data calculated in June 2017.

Because Derek has poor credit, he’ll end up paying nearly $68,000 more in interest than Abby — whose credit is awesome.

Don’t be like Derek. Instead, be like my readers who improved their credit scores by listening to some Indian dude online:

Improving your credit score can seem like an incredibly daunting task — but it’s actually pretty straightforward as long as you have the right systems in place.

And in a world where nearly 110 million Americans have NEVER even checked their credit score, making sure you have a good one will put you ahead of the curve when it comes to things like attaining a home mortgage, refinancing your student loans, buying a car, or even renting an apartment.

It’s also an incredibly easy way to get started on earning a