Basic Facts About Money
Denzel Rodriguez breaks down lifetime costs of rent, food, medical bills, and vacations, then explains how inflation and fiat currency erode money's value. He shares strategies for managing finances and increasing income to handle these expenses.
Hello, Kingdom citizens. Welcome to login 2.0. My name is Denzel Rodriguez. Your fellow Kingdom citizen and I would like to read to you our vision and our mission statement of login 2.0. So the vision of login 2.0 is to create an inclusive and authentic environment to explore matters of faith. And our mission of login 2.0 is to empower generations to celebrate Christ, share his love and engage communities to transform lives to become faithful disciples of Christ. That is our mission here on login 2.0. My role is simply to make videos. That's my thing. I'm a content creator, will always be a content creator, and I want to bring to you helpful tools and tips that you can use and implement in your life to live a better life. Number one, get closer to God. Hear his voice. Learn your purpose in life so that you can fulfill it and help others do the same.
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That's like my personal mission. And I have aligned myself with login 2.0 so that we can do something big together. I like to get involved in things that are radical, just different, out of the blue. Okay, so with that being said, today we're going to talk about just basic facts about money at any point in time. I encourage you to check out the links below in the description, we have a bunch of events planned, dated, time, everything on our website, Eventbrite and in the description below. Would love to meet you in person and we can communicate, pray together, worship together, learn together, grow together, and give together. Oh, yeah. So with that being said, let's direct our attention to the board. Some basic facts about money. I just want to lay out some things that you probably didn't even think about, about the true cost of different stuff over the course of a lifetime. All right, so I'm going to start with the first one. Medical, health insurance, medical bills, going to the doctor, emergency rooms, getting sick. Over the course of an average lifespan, you'll pay about 300 to $361,000 thousand dollars just on medical bills. How crazy is that, right? This is in the US this is the average lifespan for women. It will be higher than men simply because women live longer than men. So the 361 is for women, the 316 is for men.
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About the average family will spend about a half a million to about 700,000 on vacations. Okay? This is your whole lifetime from when you say are 15 all the way till you're in your 70s.
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And that is just an average. These numbers, by the way, none of these are going to be spot on accurate, but it's just giving, I'm just giving you the depth of how large these expenses are in your personal finances throughout your whole entire life. This way you can see what you're up against and how to tackle it. And I'm going to explain how I personally tackle looking at this, how I make sense of it and how I can proceed with my life. This way I don't get trapped, I don't become a slave to money. Alright, so the next one is that the average person will spend about a million dollars on rent, mortgages throughout their whole entire life. Next one is food. 300 to $900,000 you'll spend on food during your lifespan. Here in the US you'll pay about a million dollars in taxes. Tax rate currently 23.8% I think is average and can go as high as 33.7. It can go even higher than that. By the way, taxes will continue to rise every single year no matter what. The next thing is tithing and giving. The average person gives about 5 to 10% per year. So whatever that number is for you and your income, you'll be able to get a solid number. But that number as well will continue to increase. Inflation is 2 to 3% here in the US every single year. So what that basically means is that the cost of everything, and I didn't even put everything on here, right, I left out so much stuff. I'm just giving you some. Can you imagine if we did it all? I'd need the whole board. Right, but disinflation, what basically means is you can just take the current number, say the first year you spend, I don't know, three grand on medical. Well the next year you can just times it by 2% so it'll go up. Same thing with rent, food, cost of living, household debt, everything. Everything will continue to rise about 2 to 3%. Inflation. Okay, and the last thing this is super important. Money has no value. What does that mean? What that really means is that the US dollar is not tied to anything. It is simply the word of the US government that says this dollar is worth a dollar. This five dollar bill is worth five bucks. This is 10, that's 20, that's 50, that's 100. But there's nothing backing up that money to prove that this is worth a dollar or five or 10, 20, 50, $100. Okay, so if money has no intrinsic value, that means it is a fiat currency. That means it'll fluctuate today, it'll be worth something tomorrow, be Worth another, it doesn't retain its value. Meaning today you'll go to Macy's, you'll buy a suit for $250.
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Five years from now, that same suit will cost say $500. Well, the money that 250 that you originally had five years from now, even though the price of something is worth $500, like that's what it, that's what it costs your money. You'll need more dollars to pay for a specific thing. Whereas when we look at gold, right? Say an ounce of gold today is, I don't know, I think it's like 1500 plus an ounce of gold. Okay, $1,500 for an ounce of gold buys me 1500 dollars worth of goods. Five years from now, 10 years from now, 20 years from now, that same ounce of gold will retain its value. So no matter what happens to the economy, doesn't matter, this gold will continue to increase in value. It'll retain its value throughout the years. Here's what we call the hedge against inflation. Because the cost of that suit will continue to rise each and every year. So that $250 suit, however much gold it would cost to pay for that suit today, 10 years down the road, that gold will be worth the same amount in weight to purchase that suit. Okay? Or an asset or whatever you, whatever analogy you want to use. Okay? So basically gold retains its value, whereas the US dollar retains, will dwindle away. It does not retain its value. It has no value. It's not tied to the gold. It was removed back in the 70s. I think gold was removed from the dollar which is why you see a large amount of debt here in the U.S. i think we're 24, 23 + trillion in debt. So what's happening now is that the cost of everything just keeps going up, yet your income is stagnant. How you get paid, hourly salary, commission, however. So here's how I combat inflation, Taxes, having to give and cost of goods rising and all that good stuff is. Let me, let me give you my numbers. Back in the day when I was a young buck, I'm still a young buck. But you know, when I was a little bit younger and less, less knowledge in my brain, I was making about 2000amonth. 1500 was my expenses, had about 20,000 in debt. Cash flow was about 500 bucks.
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So once I learned about this, about the true cost and over the long haul of things and assets and giving and taxes and all that good stuff, instead of trying to make sense of this I simply said, well, how do I rise above it? How do I rise above this system so that I can operate in God's kingdom here on earth? And I simply said, well, what if I made this 2020? How do I go from making 2,000amonth to 20,000amonth to the marketplace? Right? That's all I needed to do was provide.
