USEFUL INFO: If you like this type of content and want to join a community of like-minded investors, you can check out the Patreon. It's risk-free and offers a free trial period. It also includes Qualtrim, a suite of software that helps do analysis on stocks. You can join here: www.patreon.com/josephcarlson Here's my current portfolio: m1finance.8bxp97.net/mgb1Xq I have another RUclips channel that's more podcast style, you can check it out here: ruclips.net/channel/UCfCT7SSFEWyG4th9ZmaGYqQ Also, ignore bots pretending to be me. Literally the only thing I "sell" is my Patreon, that's it.
Hi Joseph, does qualtrim just cover large cap US stocks or have a global reach? I'm based in the UK so wouldn't mind looking into British companies using qualtrim. Thanks
Great Vid! My first dividend check was .89 cents from Home Depot and I was so excited because I didn’t have to clock in for that. Yea, it’s only 89 cents but to me it was the start of me becoming wealthy as you state in your video. I still have my 2014 Altima with no radio and one rim cap missing while all my friend are buying new cars and going out every weekend. Me and my fiancé have been blessed to stay downstairs of her parents house and contribute only $500 a month while we both combined make 6 figures. Our friends are renting condos at all time highs. We’re investing 70% of our money a year. We’re on a mission to change our family tree and build generational wealth.
Same I have .12 cents from dividend and it just feels good. Also you commented 2 years ago. If you don’t mind sharing how would you say things are paying off? Reason I ask is I have a couple shares of micron and I lost 16% of my investment and it’s still falling. I’m wanting to hold on for a couple years but looking at this everyday is scary lol
Fun fact: people will say “it’s just 3 simple steps” What they won’t say is each steps are very long. Like 1-5 years per steps long. But don’t let that discourage you. Joseph is a prime example.
Absolutely. We started with steps like this a few years ago and its showing results now. My last car was a new car that I bought on finance, we changed our phones every year etc. Myself and my missus changed our habits and now we put a much as possible reach month into this system as its compounding and we can see early retirement beckoning in a few years.
@@dogelife7901 sure, if they want to move from a $20/hr lifestyle to a $100/yr lifestyle, maybe. But if they keep things relative and don't do lifestyle creep, it shouldn't take 50 years, consistent investing for 15-20 years will get them to a good place where their return can start supplementing or even replacing their earned income. If they get to invest $2 of that 20 consistently, sure. Also, Joseph's RUclips IS passive income. He put in effort on the frontend, but the residual income coming from this videos over time require little additional work. Passive income is not simply dividends.
@dogelife7901 Get the $20/hrs job. Live with parents. Save half the income. Down payment on home for a little more than $10k. Rent home out. You can get financial free in a couple to a few years
@dogelife7901 Notice he effectively started the video by saying you need to increase your income? He's not wrong. You can become wealthy on a low income, but you'll live a meager life the entire time. Fine if that's what you are comfortable with, but if you ever want to retire younger than "expected", you need more income to invest.
What's up with all the "step 1. get a YT channel, step 2. use YT money to fund portfolio" comments? Are people really that ignorant and jealous? It completely misses the point. Yes Joe makes money from YT, Patreon, etc., + his other jobs, but look at what he does with that income. He started with a couple k from his old job, got better pay and created side ventures and kept investing all income in smart ways. He then explains to us why he invests it in a very transparent way down to each penny, and shares so much valuable information with the community. Learn from him instead of bashing on his success. I suppose this is Darwinism as well; the ones who are bound to fail only have criticism and see the world through a straw.
True. But I understand why people say these things. Because for someone with a 9-5 job with an average salary, it DOES feel very misleading to watch youtube videos where they are able to put in "unrealistic" amounts of money. The growth (in dollars) then also becomes "unrealistic". I think people would like to see something "truly realistic" once in a while and not "fantasy numbers".
I dont usually comment but i really enjoy your perspective in investing and the transparency compared to other youtube investors! Every video I learn something new, thanks Joseph!
By far one of the best videos that is detailed enough but not to much info where it becomes overwhelming. I'm not stock invested but find these videos super interesting.
In the past 3 years I have gone from $25 an hour (Internship after college) and now in 2022 I am at 105k. I am moving more and more money into assets. But its scary to think about buying a second property (rental home), maybe in a few more years. It is really cool to see my M1 account paying back dividends, I started shortly after you made that first video with 100$.
This generation is actually very lucky. Thanks to social media, this information is readily available, and the tools exist to easily get started. In past generations, you had to be privileged to get access to this info (either wealthy parents or good school), and access to investing wasn't as easy. Folks don't realize what a huge advantage it is to be able to start investing right out of college or even before! Keep it up!
I agree, but the majority of high schoolers don't have the mindset at this time. There are other interests. I wasn't interested until I reached the mid 30's when life acutally began. All the subjects I took in high school didn't interest me at the time. By now, its becoming very interesting.
Brace yourself for the esoteric wealth formula everyone wants but fails to deploy: Patience + Consistency = Wealth. It really is that simple. It pays to be paytient if you will in that we need to ditch the get rich by Tuesday mindset while consistently building solid position with quality investments.. Never spreading ourselves too thin! Great video, keep it up!
This is by far your best video ever. Hands down. Shared it on my Instagram page as it's the best what I can do to support you. Thank you so much for making all this great content, I love it!
Thank you for your videos. I've only watched a few so far. Once I found your channel and saw your first video and the little amount you started with, I knew I could do it. For the first time in my 54 years on earth, I started investing in drips. I didn't understand investing so I avoided it but now I've placed my money into what I do understand. Your videos have inspired me to get started. I've even sent the link to my children so that they can get started earlier than I did.
Ditto. I didn't start until this year, at 69 years of age. I also just started with businesses I understood and growth paths I could define and explain. In just a few months with only a small investment so far, I've seen significant growth. More importantly, I'm establishing a pattern, a lifestyle, of wealth building habits that I wish I had adopted 40 years ago.
Thats the basic truth. It gets more difficult to see when there are people who make money by virtue of having large and fast moving cashflows, so people forget such basics to begin with.
but you also have to figure out how to make more.. its hand and hand... I think most people think you have to make oodles more but you don't, just enough to where you can at least sock away $20k a year in an asset like Dividend Stocks... it's not a get rich quick scheme but in 20+ years, 20K a year with even just a 6% annual ROI + 3% Dividend will be near $1Mill and that's not counting increasing your savings by just $1K a year even after the first 5 years. It's boring, it's not sexy and it takes a LOT of discipline so very few ppl want to do it.
I know what you present isn't "sexy", but I really don't know why you don't have at least double the amount of subscribers you have. Consistent, great information. Thank you.
I 100% agree with your take on cars. Cost of maintenance and tax, insurance just to “own” a car is at least $220+ per month. Unless I need the car every day or at least 3+ days per week, only beyond that does it even start to become cheaper to own vs renting/car sharing. Bicycles all the way for me !
An excellent exposition. I'd like to point out an additional factor. As more people build up to true wealth, some of them will choose to drop out of the job market. This will create pressure on employers, who will have to bid up the wages paid to employees. Over time, this will make it less difficult for more people to make the shift from bare survival to continually accelerating wealth.
Great video but I have to say, some of the advice here is a bit too “conservative”, in the sense that one of the actual ultimate objectives of becoming wealthy is… buying all that stuff that you always wanted to have. All that money if you are dead is worth absolutely nothing except for maybe spoiling your kids who didn’t even work for it. What I mean is, once you have decent wealth after having invested for years and having earned a lot, you HAVE to indulge yourself in what you love the most. If that is a Tesla, so be it. If that is a vacation home because when you were a kid your family could only go to 1 star hotels in a shitty nearby village, so be it. Hell, if it’s buying Pokemon cards, so be it. We only live once, and obviously I’m not saying you should waste all your money, in fact the “Wealthy household cycle” is the best one, but at some point you have to make good use of all that money (which really is just a agreement we have among humans because fiat money is inherently worth nothing in the end) and BUY all those things that make you happy. Slowly (keeping the asset income flowing), but surely.
Exactly I'd rather enjoy my life and have a few nice things, travel ti places u want to go, than have a million for retirement, arthritis, and die early in a car accident or from a random disease before doing or having the things what I wanted.
I enjoyed this video, thank you for putting it out. Funny you used the boat analogy, I have done the same in explanations to people, but I use the example of a guy trying to go out and fish in a badly leaking boat. You don't get to fish because you're spending all your time bailing water! The second guy would be the sport fisherman, who borrows money to buy an expensive boat to fish but rarely goes out to fish, and maybe catches a few every now and then, but always has a boat payment. The last guy, the wealthy guy would be the guy that owns a charter fishing company, that owns many boats and makes money chartering them out to fisherman and whale watchers while he collects his profits from running the business helping other people go fish, then he takes his family out to a nice fish dinner provided by one of his restaurant buddies that he sells fish to from his commercial fishing business. Great job, keep it up, just found you today, will enjoy looking at your content. I like it already!
This is a fantastic breakdown of the steps you have to take to build true wealth. I feel exceptionally lucky I started real estate in my early 20s and consistently compounded my income via assets to create more cash flow. I have watched so many friends buy vehicle after vehicle every couple years in a vicious cycle of debt. People really underestimate the drag it has on your ability to create wealth. Insurance is another huge drag. Passive income is mandatory for building long term wealth.
Omg ty for this video. I have booked marked it and have already shared it to 3 ppl. And for future people I meet who wanna know about investing, best belive I will share this video to them.
When it comes to investment, diversification is key. That is why I have my interests set on key sectors based on performance and projected growth. They range from the EV sector, renewable energy, Tech and Health.
I’m not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turned out lucrative for me.
The market is so volatile now to be depending on bull run to make profit,I advice everyone to trade now with a working program with like that of Kathy Genelle Britton so far she is helping me find investment that has significant growth potential.
The market is constantly evolving with newfeatures,trading,opportunities,financial swings with sudden surprises around every corner the best thing is to stay in touch with a professional
I made the regret of my life tracking this volatile market without a risk management system and now it’s been red after red. I would love to get guidance considering how bad I have messed up my portfolio
Interesting I'm also a subscriber of Kathy’s signals and if I were to rate her accuracy, I would say perfect 👌, she has the best trading {ROI}.She is a regulated broker so she is very much accessible to the public, just search her full name online, check out her website for information concerning her services, then mail her for guidance.
I started working at Amazon part time while working a regular full time job.. Every dollar made at Amazon goes to a savings account. From there, I direct those funds to an individual investment account, Roth IRA, and a Emergency Savings account. The line is steadily increasing in value. Wish I would’ve done this earlier.
I want to open an Roth IRA < I have funds but I not sure were to go or who to see to open an account. Can you give me some tips or point me to the right direction. Thank you
I think a really nice overview. A couple of years ago we were "rich", 2 professionals living in London, etc, but actually not really wealthy. It is a hard mindset change, but for us it was a daughter coming along. We were able to save about £80K in cash that we didn't need to use when my wife was on maternity leave, and so we put it into investments as a starting point. I'd totally agree that there is a certain pressure in having expenses and needing to keep up with that. In a weird way, it takes away choices because if you decide to work less, you don't feel you're able. It's still a work in progress, but it's good to have a focus.
Just bought my first rental property that I’m going to turn in to an Airbnb! Been all about stocks, crypto, and businesses up until now so I’m excited to share the journey on my RUclips channel with you guys!
Man, I think it would be great if you make a video of how to financially educate our kids. Might be baiting for you, but it is so important topic. Fabulous video as always ❤️
Fresh coding bootcamp grad here (9 months). Just presented my final last week. This week, I'm using my former school time to build my portfolio and apply to jobs. Thankfully my school has a great Career Services program that stays with me after school. I was investing in stocks before I started school. With school loans (-$15k), my debt increased, so my net worth is much lower than I started, but is still around $10k. My goal is to pay off all student loans by the end of the first year of work and then I'll have even more money available to buy stocks! Looking forward to growing my wealth!
Thank you Joseph for all the research that you do and share with us. This video was perfect and I shared it with many. I believe we all need this... Although I listen to the podcast I'm also subscribed over here on RUclips. Keep up the good work. Blessed be.
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
My CFA ’Izella Annette Anderson’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Step 1: Make a youtube video that gets popular. Step 2: Use youtube money to buy anything and talk about it. Gain more viewers Step 3: Continue doing step 2.
@@samuelwhite7856 youtube also is a self fulfilling prophecy; you mostly get lucky on a few videos and youtube will recommend you more than others, even when their content isnt as good. Joseph makes good videos but many others deserve more then they earn.
I think it would be cool if you made a video about how you first got into investing. I was hoping you would get into it a bit in this video. I think that is what most people struggle with the most, how to actually invest in the first place and what to look for.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts even in a down trend, with the right skills and proper understanding of how the market works.
You’re so right. I know because my advisor is able to find so many good plays. My portfolio literally went from $600k to $1.4m last year(not counting the withdrawals I made). all really exciting. I guess it’s the experience and better judgement.
@@loganjackson8515 does her services extend to someone like me that lives in Australia although I mainly invest in the USA market. I am keen to advance my portfolio a little further with her expertise!
@@loganjackson8515 Wow I know her, I joined her program just a couple months back.! She obviously brings a lot of experience in trading to the table but more importantly I think she is a tough person in an industry that demands clairvoyance.
Went from $0 in 2017 as a broke student to $200k networth in 2022. Once I got the ball rolling it became an addiction. On the first day of every month at about 6-7PM I got a slight dopamine rush when Fidelity notifies me that my automatic contributions into FXIAX are initiated. A dollar saved at my age will become 20-30 dollars in my retirement. Went to Costco yesterday and almost bought the $115 4-pack prime ribeyes, I took a deep breath and thought to myself I ain’t gonna get no mf $3000 steaks 😂
Wow i really appreciate this content. For sure is something i want to work on as well to be on that wealth side of things. Having the freedom and choose what to do with your days is true freedom.
Good episode, just wanted to point out two inaccuracies. Historically Tesla's have held their value, in large part due to supply/demand constraints. This is likely to continue for at least the next few years. Not a big deal, just noteworthy. The biggest mistake is assuming EVs are more expensive than ICE counterparts. Especially when evaluated within the context of building wealth, this is extremely important. When buying any vehicle you should forecast the cost of ownership - oils, to/from service centers, value of your time, far less moving parts, batteries that last 10 years (or more) and last but not least cost of fuel/electricity. Gas is obviously expensive right now too. Factor in that you can set charge times during offpeak hours and you have further savings. Also, the time saved with not needing to go to a gas station for the vast majority of owners.
I feel the different approaches towards wealth have to do whether one wants freedom or not. People with wealth know the value of freedom, and they will try to retain their weath to continue enjoying freedom. People in the other categories might be unware of, or pretty vague on pursuing freedom -- if they take working till death for granted, naturally they would not try to retain the money but rather spend the money to build a life style.
Started watching a couple years ago with just a few hundred dollars invested, small and consistent deposits and I’m nearly at 8k now. It’s real, thanks Joseph!
Great content. This video is on point and educating our younger generation with videos like this over stupid tiktok worthless videos and wasting your life on facebook. This is real life advice!
I’m in the final round for a coding application(Amazon Technical Academy) with amazon. If I pass the technical assessment, Amazon will pay me to learn coding and give me a 6 figure coding job. I also got my CDL through amazon and we’re getting close to getting another raise soon. And I started a RUclips channel. So for everybody talking trash about Joseph starting a channel, he’s right. Find some way to increase your revenue so you can invest more.
My car kept me hella poor. Sold it last November but now it's hard to do anything or go anywhere lol. Public transportation needs to improve massively in the US.
You have to be adaptable. Living in Chicago, I didn't own a car. I was close enough to walk to work, there were trains, buses, and cabs. Getting around outside the city was a hassle, but I bought an old Honda motorcycle for $700. Good on gas, cheap to run. Now I live in rural KY and public trans doesn't exist. I bought an old (1997) Dodge truck for a couple of grand. Really, with the milder weather I could get by with a bike or scooter.
USEFUL INFO:
If you like this type of content and want to join a community of like-minded investors, you can check out the Patreon. It's risk-free and offers a free trial period. It also includes Qualtrim, a suite of software that helps do analysis on stocks. You can join here: www.patreon.com/josephcarlson
Here's my current portfolio: m1finance.8bxp97.net/mgb1Xq
I have another RUclips channel that's more podcast style, you can check it out here: ruclips.net/channel/UCfCT7SSFEWyG4th9ZmaGYqQ
Also, ignore bots pretending to be me. Literally the only thing I "sell" is my Patreon, that's it.
Seen every video since start. Very educational and interesting
@@Clixlol appreciate you being around for that long!
I’ve seen tons of your videos, this one is my favorite one by far. Thank you!
I followed you since 2019, and much appreciated every video you posted. Thank you for your honesty and common sense.
Hi Joseph, does qualtrim just cover large cap US stocks or have a global reach? I'm based in the UK so wouldn't mind looking into British companies using qualtrim. Thanks
Great Vid! My first dividend check was .89 cents from Home Depot and I was so excited because I didn’t have to clock in for that. Yea, it’s only 89 cents but to me it was the start of me becoming wealthy as you state in your video. I still have my 2014 Altima with no radio and one rim cap missing while all my friend are buying new cars and going out every weekend. Me and my fiancé have been blessed to stay downstairs of her parents house and contribute only $500 a month while we both combined make 6 figures. Our friends are renting condos at all time highs. We’re investing 70% of our money a year. We’re on a mission to change our family tree and build generational wealth.
Same I have .12 cents from dividend and it just feels good. Also you commented 2 years ago. If you don’t mind sharing how would you say things are paying off? Reason I ask is I have a couple shares of micron and I lost 16% of my investment and it’s still falling. I’m wanting to hold on for a couple years but looking at this everyday is scary lol
Fun fact:
people will say “it’s just 3 simple steps”
What they won’t say is each steps are very long. Like 1-5 years per steps long. But don’t let that discourage you. Joseph is a prime example.
Not really. Most of his gains come from his job and/or this channel. If you want to make money you need a high income, period. Most people making
Absolutely. We started with steps like this a few years ago and its showing results now. My last car was a new car that I bought on finance, we changed our phones every year etc. Myself and my missus changed our habits and now we put a much as possible reach month into this system as its compounding and we can see early retirement beckoning in a few years.
@@dogelife7901 sure, if they want to move from a $20/hr lifestyle to a $100/yr lifestyle, maybe. But if they keep things relative and don't do lifestyle creep, it shouldn't take 50 years, consistent investing for 15-20 years will get them to a good place where their return can start supplementing or even replacing their earned income. If they get to invest $2 of that 20 consistently, sure.
Also, Joseph's RUclips IS passive income. He put in effort on the frontend, but the residual income coming from this videos over time require little additional work. Passive income is not simply dividends.
@dogelife7901
Get the $20/hrs job.
Live with parents.
Save half the income.
Down payment on home for a little more than $10k.
Rent home out.
You can get financial free in a couple to a few years
@dogelife7901 Notice he effectively started the video by saying you need to increase your income? He's not wrong. You can become wealthy on a low income, but you'll live a meager life the entire time. Fine if that's what you are comfortable with, but if you ever want to retire younger than "expected", you need more income to invest.
What's up with all the "step 1. get a YT channel, step 2. use YT money to fund portfolio" comments? Are people really that ignorant and jealous? It completely misses the point.
Yes Joe makes money from YT, Patreon, etc., + his other jobs, but look at what he does with that income. He started with a couple k from his old job, got better pay and created side ventures and kept investing all income in smart ways. He then explains to us why he invests it in a very transparent way down to each penny, and shares so much valuable information with the community.
Learn from him instead of bashing on his success. I suppose this is Darwinism as well; the ones who are bound to fail only have criticism and see the world through a straw.
I know a lot of people with this type of attitude. Sad.
People dont realise that doing RUclips also require skills. Video editing and script writing are both good paying jobs outside the RUclips space.
No wonder there are lot more unsuccessful person as a result
Well said 👏
True. But I understand why people say these things. Because for someone with a 9-5 job with an average salary, it DOES feel very misleading to watch youtube videos where they are able to put in "unrealistic" amounts of money. The growth (in dollars) then also becomes "unrealistic". I think people would like to see something "truly realistic" once in a while and not "fantasy numbers".
I dont usually comment but i really enjoy your perspective in investing and the transparency compared to other youtube investors! Every video I learn something new, thanks Joseph!
By far one of the best videos that is detailed enough but not to much info where it becomes overwhelming. I'm not stock invested but find these videos super interesting.
Excellent reminder. In my opinion this is the best financial education you tube site. Thank you.
In the past 3 years I have gone from $25 an hour (Internship after college) and now in 2022 I am at 105k. I am moving more and more money into assets. But its scary to think about buying a second property (rental home), maybe in a few more years. It is really cool to see my M1 account paying back dividends, I started shortly after you made that first video with 100$.
This generation is actually very lucky. Thanks to social media, this information is readily available, and the tools exist to easily get started. In past generations, you had to be privileged to get access to this info (either wealthy parents or good school), and access to investing wasn't as easy. Folks don't realize what a huge advantage it is to be able to start investing right out of college or even before! Keep it up!
This should be required viewing in high schools. Amazing stuff!
I agree, but the majority of high schoolers don't have the mindset at this time. There are other interests. I wasn't interested until I reached the mid 30's when life acutally began. All the subjects I took in high school didn't interest me at the time. By now, its becoming very interesting.
100% agree
Brace yourself for the esoteric wealth formula everyone wants but fails to deploy: Patience + Consistency = Wealth. It really is that simple. It pays to be paytient if you will in that we need to ditch the get rich by Tuesday mindset while consistently building solid position with quality investments.. Never spreading ourselves too thin! Great video, keep it up!
This is by far your best video ever. Hands down. Shared it on my Instagram page as it's the best what I can do to support you. Thank you so much for making all this great content, I love it!
Thank you for your videos. I've only watched a few so far. Once I found your channel and saw your first video and the little amount you started with, I knew I could do it. For the first time in my 54 years on earth, I started investing in drips. I didn't understand investing so I avoided it but now I've placed my money into what I do understand. Your videos have inspired me to get started. I've even sent the link to my children so that they can get started earlier than I did.
Ditto. I didn't start until this year, at 69 years of age. I also just started with businesses I understood and growth paths I could define and explain. In just a few months with only a small investment so far, I've seen significant growth. More importantly, I'm establishing a pattern, a lifestyle, of wealth building habits that I wish I had adopted 40 years ago.
Basically every useful financial strategy boils down to spending less than you make 💸
Thats the basic truth. It gets more difficult to see when there are people who make money by virtue of having large and fast moving cashflows, so people forget such basics to begin with.
but you also have to figure out how to make more.. its hand and hand... I think most people think you have to make oodles more but you don't, just enough to where you can at least sock away $20k a year in an asset like Dividend Stocks... it's not a get rich quick scheme but in 20+ years, 20K a year with even just a 6% annual ROI + 3% Dividend will be near $1Mill and that's not counting increasing your savings by just $1K a year even after the first 5 years. It's boring, it's not sexy and it takes a LOT of discipline so very few ppl want to do it.
That’s half the equation. The other half is buy assets instead of liabilities.
@@M0ebius Exactly. I bought stocks and real-estate. At age 56, I still drive an old, worn out vehicle.
I know what you present isn't "sexy", but I really don't know why you don't have at least double the amount of subscribers you have. Consistent, great information. Thank you.
I 100% agree with your take on cars. Cost of maintenance and tax, insurance just to “own” a car is at least $220+ per month. Unless I need the car every day or at least 3+ days per week, only beyond that does it even start to become cheaper to own vs renting/car sharing. Bicycles all the way for me !
An excellent exposition. I'd like to point out an additional factor. As more people build up to true wealth, some of them will choose to drop out of the job market. This will create pressure on employers, who will have to bid up the wages paid to employees. Over time, this will make it less difficult for more people to make the shift from bare survival to continually accelerating wealth.
Started investing back Dec 2019, I currently make $32k/yr while I finish up college and got my account up to $18k+ 🙏
That’s great! Well done!
Fantastic video Joseph. Puts alot things into perspective 👊🏾
Excellent video!! Poor Household vs Wealth Household.. Thank You, Joseph! 💯
Great way to start the weekend 😎. Passive income is the best.
One of your best videos yet. Laser focus has been my outlook for 7 years now. It’s working.
Loved it! Videos like this help keep me focused and realigned in my goals- even if I already know most of this.
Can you please make a video about growth etfs vs dividend etfs? I know you own both in your portfolio! Thanks!! Great content as usual.
Long time fan. Keep up the great work!
Just wanted to say I've been watching since 2019. Not the very beginning but close. It's been inspiring to watch your journey.
Thank you Joseph. You sure bring a lot of value for me and a lot of other people with you channel. Keep it up. And again: many thanks.
Been following for a year or so. continue enjoy how you are transparent in your holdings, whether up or down. keep up the good work.
I love buying assets every week 😁
This is the kind of video that got me investing more on my own and hooked on your content, 3 years ago. I really enjoy your work, keep it up.
Saw this on business insider a number of years ago. Great reminders! It’s simple but not easy.
Great video but I have to say, some of the advice here is a bit too “conservative”, in the sense that one of the actual ultimate objectives of becoming wealthy is… buying all that stuff that you always wanted to have. All that money if you are dead is worth absolutely nothing except for maybe spoiling your kids who didn’t even work for it.
What I mean is, once you have decent wealth after having invested for years and having earned a lot, you HAVE to indulge yourself in what you love the most. If that is a Tesla, so be it. If that is a vacation home because when you were a kid your family could only go to 1 star hotels in a shitty nearby village, so be it. Hell, if it’s buying Pokemon cards, so be it.
We only live once, and obviously I’m not saying you should waste all your money, in fact the “Wealthy household cycle” is the best one, but at some point you have to make good use of all that money (which really is just a agreement we have among humans because fiat money is inherently worth nothing in the end) and BUY all those things that make you happy. Slowly (keeping the asset income flowing), but surely.
Exactly I'd rather enjoy my life and have a few nice things, travel ti places u want to go, than have a million for retirement, arthritis, and die early in a car accident or from a random disease before doing or having the things what I wanted.
Assets is the key, the right Pokémon cards or trading cards, artwork, or other assets like vintage cars can do better than stocks sometimes.
Thanks for this video. Beginner investor here and i think your story is spot on. Since understanding this i regret buying expensive stuff in the past.
Really good advise. You are the best @ Joseph Carlson
That’s Joseph. May you live long and prosper.
A mentor and a friend. Thank you for this video!
Incredible video Joseph! I am going to share this with family and friends. Thank you!
This should be taught in every school in America. That said, no matter how old you are, it's never too late to begin.
Excellent upload dear Joe. Was required to revisit our basics and core principles. Cheers mate 👍
I enjoyed this video, thank you for putting it out. Funny you used the boat analogy, I have done the same in explanations to people, but I use the example of a guy trying to go out and fish in a badly leaking boat. You don't get to fish because you're spending all your time bailing water! The second guy would be the sport fisherman, who borrows money to buy an expensive boat to fish but rarely goes out to fish, and maybe catches a few every now and then, but always has a boat payment. The last guy, the wealthy guy would be the guy that owns a charter fishing company, that owns many boats and makes money chartering them out to fisherman and whale watchers while he collects his profits from running the business helping other people go fish, then he takes his family out to a nice fish dinner provided by one of his restaurant buddies that he sells fish to from his commercial fishing business. Great job, keep it up, just found you today, will enjoy looking at your content. I like it already!
This is a fantastic breakdown of the steps you have to take to build true wealth. I feel exceptionally lucky I started real estate in my early 20s and consistently compounded my income via assets to create more cash flow. I have watched so many friends buy vehicle after vehicle every couple years in a vicious cycle of debt. People really underestimate the drag it has on your ability to create wealth. Insurance is another huge drag. Passive income is mandatory for building long term wealth.
Omg ty for this video. I have booked marked it and have already shared it to 3 ppl. And for future people I meet who wanna know about investing, best belive I will share this video to them.
I watch and learn every week. I'm saving this episode. Thank you Joseph
Thanks, very motivating.
When it comes to investment, diversification is key. That is why I have my interests set on key sectors based on performance and projected growth. They range from the EV sector, renewable energy, Tech and Health.
I’m not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turned out lucrative for me.
The market is so volatile now to be depending on bull run to make profit,I advice everyone to trade now with a working program with like that of Kathy Genelle Britton so far she is helping me find investment that has significant growth potential.
The market is constantly evolving with newfeatures,trading,opportunities,financial swings with sudden surprises around every corner the best thing is to stay in touch with a professional
I made the regret of my life tracking this volatile market without a risk management system and now it’s been red after red. I would love to get guidance considering how bad I have messed up my portfolio
Interesting I'm also a subscriber of Kathy’s signals and if I were to rate her accuracy, I would say perfect 👌, she has the best trading {ROI}.She is a regulated broker so she is very much accessible to the public, just search her full name online, check out her website for information concerning her services, then mail her for guidance.
My man Joseph is on boss mode. Great video. 🤑🤑🤑
Awesome perspective. Well expressed. Made my day👍
I started working at Amazon part time while working a regular full time job.. Every dollar made at Amazon goes to a savings account. From there, I direct those funds to an individual investment account, Roth IRA, and a Emergency Savings account. The line is steadily increasing in value. Wish I would’ve done this earlier.
I want to open an Roth IRA < I have funds but I not sure were to go or who to see to open an account. Can you give me some tips or point me to the right direction. Thank you
@@georgesoto4889 I use fidelity. They seem to have many options. Some that I didn’t mention and it’s easy to get started.
@@georgesoto4889 keep listening to Joseph Carlson. Tons of valuable info on his channel.
I think a really nice overview. A couple of years ago we were "rich", 2 professionals living in London, etc, but actually not really wealthy. It is a hard mindset change, but for us it was a daughter coming along. We were able to save about £80K in cash that we didn't need to use when my wife was on maternity leave, and so we put it into investments as a starting point.
I'd totally agree that there is a certain pressure in having expenses and needing to keep up with that. In a weird way, it takes away choices because if you decide to work less, you don't feel you're able.
It's still a work in progress, but it's good to have a focus.
Just bought my first rental property that I’m going to turn in to an Airbnb! Been all about stocks, crypto, and businesses up until now so I’m excited to share the journey on my RUclips channel with you guys!
Lol...even Professor G came to listen in😅...big fan of yours boss
Excellent video! Thank you for putting it together.
You have explained these charts before on an old episode! Great explanation
Man, I think it would be great if you make a video of how to financially educate our kids.
Might be baiting for you, but it is so important topic.
Fabulous video as always ❤️
Great video Joseph!
Useful,informative, relevant information..well put together and appreciated Joseph ❗
Well said, great video!
Great video Joseph ! Thank you !
Watched and liked, thanks Joseph!
Fresh coding bootcamp grad here (9 months). Just presented my final last week. This week, I'm using my former school time to build my portfolio and apply to jobs. Thankfully my school has a great Career Services program that stays with me after school.
I was investing in stocks before I started school. With school loans (-$15k), my debt increased, so my net worth is much lower than I started, but is still around $10k. My goal is to pay off all student loans by the end of the first year of work and then I'll have even more money available to buy stocks! Looking forward to growing my wealth!
Keep growing keep it going. Always great to see another long term thinking 🇺🇸. This country needs more like you
Thank you Joseph for all the research that you do and share with us. This video was perfect and I shared it with many. I believe we all need this... Although I listen to the podcast I'm also subscribed over here on RUclips. Keep up the good work. Blessed be.
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
@@mariaguerrero08Could you possibly recommend a CFA you've consulted with?
My CFA ’Izella Annette Anderson’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Well Said! Very good video. Thanks for this video.
GOAT channel not even close
Love ur work dude
Really nice video. Robert Kiyosaki ‘s stile. Thanks!
That was the best Joe thank you!!
Nice job, I am certain you have inspired many people on the principals of growing wealth and generating passive income.
You're awesome, Jose. Thank you
I really like your content. Keep it up Joseph!
Step 1: Make a youtube video that gets popular.
Step 2: Use youtube money to buy anything and talk about it. Gain more viewers
Step 3: Continue doing step 2.
Step 1 is considerably more involved than you may think. It's like saying "learn to play basketball then join the NBA."
if step 1 is so easy why haven’t you done it and become wealthy ????
@@samuelwhite7856 I've been making videos for a few years. I get about $100 a month on it. Once you are decently big then it's not that hard...
@@epbrown01 There are plenty of youtubers that are as good if not better and they barely make anything.
@@samuelwhite7856 youtube also is a self fulfilling prophecy; you mostly get lucky on a few videos and youtube will recommend you more than others, even when their content isnt as good. Joseph makes good videos but many others deserve more then they earn.
Hey Joseph, great content. Look toward to each video
Could you explain money weighted return vs time weighted return?
I think it would be cool if you made a video about how you first got into investing. I was hoping you would get into it a bit in this video. I think that is what most people struggle with the most, how to actually invest in the first place and what to look for.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts even in a down trend, with the right skills and proper understanding of how the market works.
"Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off." - Carlos Slim Helu
You’re so right. I know because my advisor is able to find so many good plays. My portfolio literally went from $600k to $1.4m last year(not counting the withdrawals I made). all really exciting. I guess it’s the experience and better judgement.
Camille Anne Hector is her name. She's quite known and has got a website. So, you can check her out online and subsequently contact from there.
@@loganjackson8515 does her services extend to someone like me that lives in Australia although I mainly invest in the USA market. I am keen to advance my portfolio a little further with her expertise!
@@loganjackson8515
Wow I know her, I joined her program just a couple months back.! She obviously brings a lot of experience in trading to the table but more importantly I think she is a tough person in an industry that demands clairvoyance.
You sir are doing a great job!
Thank you and more power.
Really good video 👍🏽
Very good theory，it's need time.
I watch this video a couple times a month
Went from $0 in 2017 as a broke student to $200k networth in 2022. Once I got the ball rolling it became an addiction. On the first day of every month at about 6-7PM I got a slight dopamine rush when Fidelity notifies me that my automatic contributions into FXIAX are initiated. A dollar saved at my age will become 20-30 dollars in my retirement. Went to Costco yesterday and almost bought the $115 4-pack prime ribeyes, I took a deep breath and thought to myself I ain’t gonna get no mf $3000 steaks 😂
Wow i really appreciate this content. For sure is something i want to work on as well to be on that wealth side of things. Having the freedom and choose what to do with your days is true freedom.
Good episode, just wanted to point out two inaccuracies.
Historically Tesla's have held their value, in large part due to supply/demand constraints. This is likely to continue for at least the next few years. Not a big deal, just noteworthy.
The biggest mistake is assuming EVs are more expensive than ICE counterparts. Especially when evaluated within the context of building wealth, this is extremely important.
When buying any vehicle you should forecast the cost of ownership - oils, to/from service centers, value of your time, far less moving parts, batteries that last 10 years (or more) and last but not least cost of fuel/electricity. Gas is obviously expensive right now too. Factor in that you can set charge times during offpeak hours and you have further savings. Also, the time saved with not needing to go to a gas station for the vast majority of owners.
I feel the different approaches towards wealth have to do whether one wants freedom or not.
People with wealth know the value of freedom, and they will try to retain their weath to continue enjoying freedom. People in the other categories might be unware of, or pretty vague on pursuing freedom -- if they take working till death for granted, naturally they would not try to retain the money but rather spend the money to build a life style.
Poor households when they do save, they tend to save cash
Started watching a couple years ago with just a few hundred dollars invested, small and consistent deposits and I’m nearly at 8k now. It’s real, thanks Joseph!
what a beautiful channel. thanks for uploading such a great video. subbed and liked !^!
It’s not about the portfolio gains, but about the friends we gain along the way.
Only if those friends pay dividends.
Great content. This video is on point and educating our younger generation with videos like this over stupid tiktok worthless videos and wasting your life on facebook. This is real life advice!
I love these kinds of videos. I wish you would do more like these.
Outstanding Video
I’m in the final round for a coding application(Amazon Technical Academy) with amazon. If I pass the technical assessment, Amazon will pay me to learn coding and give me a 6 figure coding job.
I also got my CDL through amazon and we’re getting close to getting another raise soon.
And I started a RUclips channel.
So for everybody talking trash about Joseph starting a channel, he’s right. Find some way to increase your revenue so you can invest more.
best of luck to you!
@@JosephCarlsonShow thanks! Been here since episode 1
This channel will one day be the syllabus I use to give my kids their financial education.
Fantastic video. I have shared with those close to me
My car kept me hella poor. Sold it last November but now it's hard to do anything or go anywhere lol. Public transportation needs to improve massively in the US.
You have to be adaptable. Living in Chicago, I didn't own a car. I was close enough to walk to work, there were trains, buses, and cabs. Getting around outside the city was a hassle, but I bought an old Honda motorcycle for $700. Good on gas, cheap to run.
Now I live in rural KY and public trans doesn't exist. I bought an old (1997) Dodge truck for a couple of grand. Really, with the milder weather I could get by with a bike or scooter.
Move to Europe. Public transport works great here
31:32 should not be tech cloud computing at +66000 gain. You have 200% return, so you invested 33k and not it is 100k.
I think this one was better than 3h amazon in depth one :)) time will definitely tell
Very very powerful
Thanks for this information
For you to take the tone to break all this down ur 💪🏽👌🏾🤛🏾🙏🏾🎯✅
Watching in November 2024. This is gold.
Excellent video
Hey Joseph! A few weeks ago I saw a new category in your divident portfolio. It was named "renewables". Why did you closed your position?
great vid!!!! keep up the good work:)