► Stop data brokers from exposing your personal information. Go to my sponsor aura.com/financialtortoise to get a 14-day free trial and see how much of yours is being sold
Addition to #9: Take advantage of your local public library! I'd still like to have a sweet personal library like Tae's, but I can walk to one with tens of thousands (You can likely have books delivered from other libraries in your county) of publicly subsidized books in 15 minutes.
I like my own books. I don’t touch books other people have handled. How many library books go into the bathroom. People eat while reading and fingers in the mouth then onto the page. When I go in for a Dr’s visit the last thing I touch is the magazines. Think about it.
@@LayLow83 Used clothes give me the creeps and used game controllers and handheld electronic devices, even professionally refurbished, cross the line and I'd rather pay more for new, but I never thought that way about books...
I totally agree. I put $250k into stocks with my advisor, and now I've made over $4 million in profits. I used the profits to buy properties, and they're bringing in great income. It just shows how important it is to invest in things that grow over time. It's like I'm living out the lessons right from the start of his book- Guide to investing
Despite the ups and downs in the stock market, you've managed to turn your investments into good profits. Could you share the name of your advisor? I have $300k saved up and ready to invest, but as a beginner, I don't know my way around the market.
I am on the look out for experts and after doing my research online will say she meets my requirements, Thank you for sharing with us. I already sent her a mail hoping she can make out time in her busy schedule to assist me.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
the blessing in disguise is realising that not everyone can put in effort to make it work out, hence doing it at one's own pace will eventually pay off, but needs to be fit into a specialised personal circumstance in the fiscal realm
The last point is great. I had a ton of dental work to handle so i took out a CC that i make large payments on regularly; I already have enough flight points to take a few trips.
I started selling on Amazon about 4 months ago. I make a net profit about 5-7k every month. Its amazing because I only need to manange it 2-3 hours a week. I love it when i get notifications that i sold something over my phone when im sleeping lol.
This is a wonderful video! All your videos are so well made and it shows how much time you put in your work. I had not read this book but had hear of it back in the day. Like you Tae, we live in Orange County CA. The cost of living is very high here but with budgeting and being extremely frugal and organized we are able to have a comfortable lifestyle. Thank you for your advice!
Excellent overview of diversifying income streams! Emphasizing the transition from side hustle to business income highlights a viable path for entrepreneurial growth while underscoring the importance of strategic financial planning. 👍
Just remember kids out there that different countries have different taxation etc rules for dividends, capital gains and what not. E.g. for selling your home, the owner-occupier time may be a year only, or you have very different thresholds for tax exempt vs lower tax vs fully taxed components. Always check with a local tax accountant / specialist before buying so that you can optimise the future outcome.
I do like the points made in this video. I just want to point out though just in case you are not aware or have not seen any of the Ramsey videos, please please be sure to pay off your credit balance at the end of each month. Otherwise, the rewards earn will not outweigh the interests charged from month to month on these cards.
Credit card points only makes sense to count as a kind of "income stream" if you use cash back cards instead of travel cards. Travel cards incentivize you to travel more often to more luxurious places, and even after netting out the money saved with points, research shows that you are more likely to spend MORE money than you would have otherwise. Compare this to cash back cards where the cash back goes straight to your bank account and you can either use it or not use it and invest it.
I have never deducted a household office as I have always considered it a big Irs red flag. It also creates issues when you go to sell your house is what I have been told. I itemize my taxes and have all my receipts collected very carefully, but I think a home office, draws more attention to your business from the IRS just my opinion
reinvesting dividends isnt always the right move… it assumes that the best method to utilize these monies is to purchase the stock, instead of purchasing another stock or asset.
I have a long term tenant in my single family. They have rented from me for 12 years. They have never paid late. They repair anything that breaks and send me an invoice and deduct expenses from the rent. I have raised rent once in 12 years because I know that excellent tenants are difficult to find and keep. Mortgage is paid off so expenses (property taxes and homeowners insurance) are minimal.
Love the way he doesn't go into full detail on any of these ideas lol especially the one when he compared public schooling compared to private schooling. My 8 year old is in private school. Best money I ever invested.
It's not a "SPECIAL". It's an affiliate link! Stop trying to mislead people and call it what it is. You 'll quickly destroy your reputation by trying to hide the use of affiliate links with some BS jargon. Stop it now!
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Gloria Robinson
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Love the breakdown! So many income streams to consider. But hey, here's a little twist - ever considered crypto for your retirement plan? My Digital Money's got your back, making it simple and secure. Worth a peek!
► Stop data brokers from exposing your personal information. Go to my sponsor aura.com/financialtortoise to get a 14-day free trial and see how much of yours is being sold
Tae’s hair got the DMV thinking he’s 6’10” 😂
😂
😂😂😂💯
Lmaooo
He is so hott!
😂😂😂😂
Addition to #9: Take advantage of your local public library! I'd still like to have a sweet personal library like Tae's, but I can walk to one with tens of thousands (You can likely have books delivered from other libraries in your county) of publicly subsidized books in 15 minutes.
I like my own books. I don’t touch books other people have handled. How many library books go into the bathroom. People eat while reading and fingers in the mouth then onto the page. When I go in for a Dr’s visit the last thing I touch is the magazines. Think about it.
@@LayLow83 Used clothes give me the creeps and used game controllers and handheld electronic devices, even professionally refurbished, cross the line and I'd rather pay more for new, but I never thought that way about books...
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
I totally agree. I put $250k into stocks with my advisor, and now I've made over $4 million in profits. I used the profits to buy properties, and they're bringing in great income. It just shows how important it is to invest in things that grow over time. It's like I'm living out the lessons right from the start of his book- Guide to investing
Despite the ups and downs in the stock market, you've managed to turn your investments into good profits. Could you share the name of your advisor? I have $300k saved up and ready to invest, but as a beginner, I don't know my way around the market.
She is well known as - Chasity George Charles. please do your own research.
I am on the look out for experts and after doing my research online will say she meets my requirements, Thank you for sharing with us. I already sent her a mail hoping she can make out time in her busy schedule to assist me.
What are examples of liabilities that “they think are assets”?
this one’s gonna reach a million in no time
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
the blessing in disguise is realising that not everyone can put in effort to make it work out, hence doing it at one's own pace will eventually pay off, but needs to be fit into a specialised personal circumstance in the fiscal realm
You’ve outdone yourself, sir! I watch you regularly. This video is well-organized, clear and as concise as can be. Thanks!
The last point is great. I had a ton of dental work to handle so i took out a CC that i make large payments on regularly; I already have enough flight points to take a few trips.
: "Have a seat"
Tae's hair : "nope" 😂
I started selling on Amazon about 4 months ago. I make a net profit about 5-7k every month. Its amazing because I only need to manange it 2-3 hours a week. I love it when i get notifications that i sold something over my phone when im sleeping lol.
What do you sell?
This is a wonderful video! All your videos are so well made and it shows how much time you put in your work. I had not read this book but had hear of it back in the day. Like you Tae, we live in Orange County CA. The cost of living is very high here but with budgeting and being extremely frugal and organized we are able to have a comfortable lifestyle. Thank you for your advice!
Excellent overview of diversifying income streams! Emphasizing the transition from side hustle to business income highlights a viable path for entrepreneurial growth while underscoring the importance of strategic financial planning. 👍
Seeing the clip of you and your family on vacation you were smiling, then i realized I've never seen you smile. Nice smile Tae.
Just remember kids out there that different countries have different taxation etc rules for dividends, capital gains and what not. E.g. for selling your home, the owner-occupier time may be a year only, or you have very different thresholds for tax exempt vs lower tax vs fully taxed components. Always check with a local tax accountant / specialist before buying so that you can optimise the future outcome.
I do like the points made in this video. I just want to point out though just in case you are not aware or have not seen any of the Ramsey videos, please please be sure to pay off your credit balance at the end of each month. Otherwise, the rewards earn will not outweigh the interests charged from month to month on these cards.
I have had a problem keeping steady job that’s my problem 😫 great content!!!
You should have stopped at 9. Credit card points are not a form of income. It’s a deferred discount on spending.
Excellent video once again
Top of the morning coach
First!
Great videos, I really enjoy them.
Credit card points only makes sense to count as a kind of "income stream" if you use cash back cards instead of travel cards. Travel cards incentivize you to travel more often to more luxurious places, and even after netting out the money saved with points, research shows that you are more likely to spend MORE money than you would have otherwise. Compare this to cash back cards where the cash back goes straight to your bank account and you can either use it or not use it and invest it.
If you have to pay for travel tickets to visit family, which you would pay for anyways, it can do save you money
I have never deducted a household office as I have always considered it a big Irs red flag. It also creates issues when you go to sell your house is what I have been told. I itemize my taxes and have all my receipts collected very carefully, but I think a home office, draws more attention to your business from the IRS just my opinion
reinvesting dividends isnt always the right move… it assumes that the best method to utilize these monies is to purchase the stock, instead of purchasing another stock or asset.
Rental income is the hardest way to earn money.
I have a long term tenant in my single family. They have rented from me for 12 years. They have never paid late. They repair anything that breaks and send me an invoice and deduct expenses from the rent. I have raised rent once in 12 years because I know that excellent tenants are difficult to find and keep. Mortgage is paid off so expenses (property taxes and homeowners insurance) are minimal.
Does investing in REITS count as rental income or dividend for you?
Will you do a review of the book “The Algebra of Wealth?” This seems so similar to your philosophy.
Love the way he doesn't go into full detail on any of these ideas lol especially the one when he compared public schooling compared to private schooling. My 8 year old is in private school. Best money I ever invested.
That hair is looking good!
😂😂😂
If I seel furniture for a lower price than what I paid for (I'm moving to a different country) Do I get tax returns?
Are you gonna swap cards since chase is doing away with lounge access in July???
this guys passive income is his past videos
Nice 😊😊😊
Australian's have fair dinkum, which I always thought was faird income, income that was earned fairly and could be put towards building their wealth.
@TaeKim you are awesome!
It's not a "SPECIAL". It's an affiliate link!
Stop trying to mislead people and call it what it is.
You 'll quickly destroy your reputation by trying to hide the use of affiliate links with some BS jargon.
Stop it now!
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Gloria Robinson
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
You trade with Gloria Robinson too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Love the breakdown! So many income streams to consider. But hey, here's a little twist - ever considered crypto for your retirement plan? My Digital Money's got your back, making it simple and secure. Worth a peek!
I count my credit card cash back as income, its a solid amount so why not count it.
Because it’s not income. It’s a reduction in expenses. It’s only earned by spending money, so you could never rely on it as a form of income
Democrats want to tax unrealized gains 🤯
Who needs 10 streams of income when you can just focus on mastering one?
2 streams of income is enough
He remind me of the army guy in street fighter 😅
❤
Paying an entire vacation with points, you micro be spending hundreds of thousands a year on Those cards, not very useful info for normal people
Every person that pays a property tax pays to send you children to a public school. That money comes from everyone. It’s not free!
Is that hair real?
Brah, VPN will save yo assets
comic hair
Huh interesting. So far the only legit money making while sleeping that I know of is tricking.
OF? Lol
Thanks, but investing anywhere other than bitcoin during these early adoption years is inefficient 😉
Wait… does he rent an apartment?!?!