Building wealth entails cultivating positive habits, such as saving money at regular intervals for long-term investments. Instead of attempting to predict and forecast the market's stability and when the change will occur, a better strategy is to simply have a portfolio that is well prepared for any eventuality; according to Bloomberg, some people have been averaging $150K every 7 weeks over the last four months.
The strategies are pretty tough for the average Joe. In fact, they are typically carried out successfully by professionals with a wide range of abilities and experience.
I absolutely agree; I'm 60 years old, recently retired, and have approximately $1.25 million in non-retirement assets. Compared to the total value of my portfolio during the last three years, I have no debt and a little amount of money in retirement funds. To be perfectly honest, the information offered by invt-advisors can only be disregarded, not overlooked. Simply conduct research to choose a trustworthy one.
I've tried a few over the years, but I've been with '' Sophie Lynn Carrabus" for approximately five years, and her performance has constantly been remarkable. She is well-known in her industry; look her up.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Sophie Lynn Carrabus is the advisr I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Hallelujah! God is still performing wonders. I'm positioning myself for such miracles. This is the best thing I've seen today on RUclips-thank you so much!.540k earned so far.
To be successfully in life one must take risk, investing brings success that’s why the rich will never come out in public to tell you how they make their money
The crypto market has been unfavorable for months and I keep losing my money selling-off during dips, I'm very scared of holding right now, how do you guys still make so much….?
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds... But miss michelle sule , restored hope shes a good woman
You're right! I've been trying to trade but I keep making losses and it's frustrating Who is your mentor please. how can I reach him/her I really need help
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1.25m in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Patricia's unique strength lies in her realistic approach which makes her different from other brokers who often set unattainable targets and fall short in delivery
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Grace Miller.
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'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
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
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I have noticed our wealthiest friends seem to own small amounts of high quality items. They have four great paintings on the walls but not much else. Not a lot of furniture. They do spend money on high quality food and wine. Solid but never flashy cars.
Good information! I just invested in my first new multifamily apartment building, which will have 5 units fully furnished with garages. It's possible to do so and get out of the lie of looking and living rich by being rich with less than $15K
One thing Im proud of that I did this year was paid off my credit card debt! That shit burdened me for over a year!!! Now the 10% of my salary that used to go to the credit card installment is split to extra selfcare and building up emergency funds. Im getting better with my finance and Im loving it❤❤❤
Getting closer to achieving this feat by January 2025 everything will be paid off, hasn't been easy, but so much peace that I wonder why it took me so long to see the negative impact of what having debt can do to you, physical, mentally and emotionally
@@CMJ_1 yes! It's mentally drowning. I remember resenting my past self because I had to pay credit card debt over the things I bought because i couldnt control my consumption. With that said, I could say I am better off now managing my finance. I wish you luck in your journey to financial freedom!
@@joannedibben2352 thank you! I indeed feel better without credit card debt. I have debit card and now think twice or three times before I spend money on anything. Lol wish you lucj on your financial journey 😁
All of these were the lessons that I learnt from my grandmother. I thought that they were boring but now that I am an adult, I realised that they were worth it. I have also passed them to my daughter. Thank you for sharing this with the world.
Great video! I will suggest that these aren't necessarily sacrifices and they can yield positive results unrelated to wealth. For example, cooking your own meals is likely to mean eating smaller portions, eating better quality food, and simply slowing down. Reading a book instead of watching Netflix will expand your knowledge, deepen your ability to concentrate, make you more literate. In short, if you think of these techniques as part of living intentionally rather than sacrifices, you're less likely to feel deprived.
I agree. I follow a Ketogenic lifestyle and I can ignore 95% of supermarket produce. I cook everything from scratch and I only eat twice per day. Ready meals are deadly.
@Observer100-cn7gv I deprive myself of nothing. I love eating a proper human diet. When I go on holiday, I eat SAD to some degree on all-inclusive, but that one week per year. I'm very happy with Beef, Bacon, butter and eggs
I've been working on my challenges towards convenience. Having no interest in luxury and expensive stuff, I feel justified to live a "comfortable" life.
It’s funny, once you have some money in the bank, it seems you don’t want all that stuff you once wanted to buy. You know you can just buy it outright, so it’s not so pressing like it once was.
Wish I would have done these things when I was younger. Always living paycheck to paycheck. I’m older and wiser now, but know older folks who are still living beyond their means. It feels good having money in the bank. Never knew this feeling in my younger years. Thanks Austin, and you’re making a difference in your viewer’s lives. 🥰🇺🇸🥰
Well said. All but one of my friends are spenders. They wouldn't know how to save money if their lives depended on it. I always tell them you have to self sacrifice to save, like I always have done. But they don't want to hear that. I think it's something you are born with, the ability to manage money properly. Some people have it, some people don't.
I’ve always been frugal with I manage my money well, which allows me to afford a mortgage, and I own my cars outright. Some of my co-workers struggle with their finances and seem to dislike me for it. They choose to live pay check to paycheck.
They do because they're drowning. The enslaved hating those who choose not be an permanent indentured servant and that's what 95% are and they know it.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
I don’t have many friends that I need to show off to so I am actually more happy than those with a ton of “friends” that they constantly need to compete
I have friends that are fairly well off, I'm probably the poor kid of the group. But you'll never find such a bunch of frugal people anywhere. We compete by showing how frugal we are ;) And most of them are pretty sharp at investing as well. I've learned a lot from them. That's the type of friends that will help you build wealth.
The elephant in the room that this video and so many others ignore: KIDS. Having kids too young, outside of marriage, before you have a decent income, or some combo of all 3, sinks a lot of people financially for the rest of their lives.
We became parents when we were still students. We managed to make ends meet with very little money back then. Now we both work and our daughter is 5 years old. We haven't really changed our lifestyle since then and have the opportunity to save and invest more than enough. We have also set up a fixed savings plan for our daughter so that she has an easier start to her adult life. In short, it all depends on how you deal with the situation.
@M.S.5555 People who are the exception always comment when I say such things. Most people deal with the situation poorly, as statistics generally show. Glad you're the exception, but you're not the norm for this situation.
I think people need to sit down and work out just how much they can save on a monthly basis. Even if it’s only £50 a month, over time that will snowball into a good chunk of savings. £50 a month, is £600 after one year.
We live below our means. Paid off cars, only 15% of our after tax income goes to the mortgage. Our neighbors have a huge house and the wife doesn’t work and they complain how they are struggling….
Thank You so much for this amazing Video!!!!! I know people who earn double and triple what I do,,,,,, but they are always complaining that the money is not enough. Through saving and budgeting in detail and responsibly, I saved money to invest and today, theoretically, I could live off my investments. I did this without anyone's help, just studying and researching. Life is beautiful when we wake up to the fact that those who are not born with a silver spoon must have responsibilities to achieve a pleasant financial life.
I'm glad you're finding a solution, after the crazy sad flooding of your previous apartment! 🎉😁 Good luck!! 🤞 Your dad's place looks totally nice and clean. 😊
I have been investing for a few years. I have reached a point where I could benefit from financial advice to improve my $200,000 portfolio for retirement, how do I maximize my ROI?
You didn't provide detailed information about your portfolio makeup. However, I recommend seeking guidance from a financial advisor for a well-informed portfolio restructuring.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
Sonia Nunes Demelo is the licensed advisor I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment
You completely nailed it here, Austin, with your list of sacrifices. The first time I sat down and created a budget for myself was a real eye-opener. I already created one for 2025 last week. Gracias por compartir tus conocimientos con nosotros.
Good presentation Austin. I would like to add something I don’t think you mentioned. That is, you must set and focus on long term goals. Set big goals but give yourself reasonable time, like 5 years to meet them. I’m talking goats like purchasing your first car with cash, by, let’s say age 35. Then, for example, set the next goal of buying and owning a home by age 40. Then a next goal could be to have, say $30,000 dollars working for you in the stock market. You get the idea. As life progresses, set higher goals for wealth. This works, because if you are sincere, these goals will cause you to focus your efforts on specific and worthy goals that give you a reason to consider each expenditure along the pathway as to whether or not it is consistent with your ability to achieve the goals you set. It will help you to disregard frivolous spending of your money. Once you meet your first big goal., you will receive a mental lift that will drive the next one.
Austin, remember that as a self-employed person, you also have the ability to set up a SEP IRA, and your medical premiums may be tax deductible outside of itemized deductions. Worth a session with a tax expert to look into all your options, as your circumstances allow.
Not being in debt make for a much more enjoyable life, work hard, learn to budget, spend less than you make, invest wisely and when you retire you will be at peace!!!
Thank you for the information. To me everything you said is just common cense and basic mathematic. I would like to add just a few important points from a long list I personally followed/follow while building top 1% plus wealth (top 1% wealth is starting from as low as 8 million AUD). Very important to be the best in what you are doing, work significantly longer hours than others, believe in yourself, be prepared to handle envy, incorporate research/learning into your daily life, control/supervise your own investments/finances, be honest, kind, considerate, savvy and protect yourself. From a very young age I learned from my family including my favourite countess great ant, that presentation is very important, I ensure that I am elegant inside and outside, wear quality outfits, very clean shoes and perfectly ironed clothes. At the beginning of the wealth building journey I purchased my outfits on sale, due to the quality and classic style I wear them today.
In all, the IRS announced more than 60 changes for the upcoming tax year. How much they’ll impact you depends on your income, financial health, and tax strategy. As with any tax updates, it’s smart to consult a tax professional on how to make these changes work for you. And it’s important to remember these changes take effect in the 2025 tax year - they won’t do you much good when it’s time to file your returns this coming spring.
Before I stopped dca-ing into my retirement account, it was 220k and has now depleted to 175k in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
At the start i thought i would have to change my mentality a lot to reach being wealthy, but after watching it i realized im not too far. I need to set some goals, and stop making excuses. Good enough spanish, not sure if you are studying a specific accent. Maybe colombian accent.
Sacrifice, hard work, a millionaire mindset, outside the box thinking, and determination to never give up. Those are the keys to getting rich... You're welcome.
It is tough when you make the sacrifices and become wealthy but then the sacrifices become the new standard in your life. Simplicity in life is great, but then you have to learn to give yourself "permission" to spend that money (Example: I am not buying eggs because they are more expensive this week/month). It's hard to explain until you've lived it....
We aren't wealthy, but we are comfortable. We make some sacrifices, but live under our means which allows us to grow our money. I don't believe budgets are sacrifices. I do believe that not spoiling ourselves now is a sacrifice. Next year we're going to Hawaii. We have been saving for this trip for a few years. If you save long enough you will have what you want.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
My CFA ’’ Sharon Ann Meny, 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..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Excellent video. Your voice is soothing. One thing I disagree with is giving up some of those comforting things. As Ramit Sethi says, you won't make a huge difference in your rich life by giving up the $3 things (figuratively speaking). Focus on the 3000 dollar questions like your fixed costs.
. Love the advice tho!! But why don’t you ever have a video about giving back? Donating money or helping the less fortunate? You even mentioned to stop tipping waiters! Which is beyond crazy. I believe if we’re all following fugal life then we should be able to help others. Even Dave Ramsey says we should give. “Live like no one else, so later you can live and give like no one else” I just want to know your reasoning behind it
Now I have something a bit controversial to ask. Let’s say you wanted the expensive car and bought the average car, saving the money for 30years. What if you are not granted those 30yrs? Should you have gotten that expensive car you really longed for? 🧐
Believe it or not, I don't wish to be wealthy, I just want a well paid job to afford rent & bills, food and gas, that would work for me 🤷🏻♀️ even if I don't have anything left for health insurance or for savings, to fully cover those expenses every month would be great 👍
Good video, very well presented. Everyone should watch & re-watch until all points become second nature! p.s. what's with all the dirt on your face? Scrub, scrub, scrub.😀💙
Hello 👋👋 That's why I have 3 Passive incomes and invest in True Money Called Gold Bullions 😊. Live below your Means. Avoid debts+ liabilities 😊 Frugal lifestyle believer. No inflation lifestyle. Avoid Debts. Buy completely Cash Stuff 😁. No Rich..... Be Wealthy 🤑
Most people don’t listen because they see budgeting as lack whereas likeminded people like Austin and us see it as gaining abundance and control. Mindset is everything!
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
If you are thinking of investing in the stock market and you are not well versed, its advisable to work with a financial advisor who is an expert to guide you through the process. this way you could make more profit with less risk
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
I'm 50 years old and I'm more interested in investments that could set me up for retirement, I mean I've heard of people who made hundreds of thousands during these crises, I heard someone on a podcast who made over $650K in less than a year, what is the strategy behind such returns?
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly difficult. Therefore, I will suggest you get a financial advisor who can provide you with entry and exit
@@Kylene7 Many people minimize the role of adventurers until they are burned by their own emotions. I remember a couple of summers ago, after my long divorce, I needed a good boost to help my business stay afloat, so I looked for licensed counselors and came across someone with top qualifications. It has helped increase my nest egg despite inflation, from $275k to $850k.
How can you find a verifiable financial planner? I wouldn't mind finding the professional who helped you. I'm retiring in two years and may need some management on my much larger portfolio. I don't want to take any risks
Great video! I can’t say enough about my investment coach Katrina Susan-she’s completely turned my life around. I started with a small investment, and now I’m finally free from debt. I’ll always share her work with others because she’s truly made a difference in my life. Thank you, Katrina!
Wow, it’s amazing to see Katrina Susan mentioned here! I didn’t realize she’s helped so many people. I’m currently on my fifth trade with her, and each one has been outstanding. Highly recommend
Katrina is not only my family’s trusted broker but also a reliable advisor to many families here in the United States. She has the experience and integrity that so many of us need
Isn’t it great to see how many people know her? I thought I was the only one she had guided through the ups and downs of trading. She’s made such a difference in my journey!
Building wealth entails cultivating positive habits, such as saving money at regular intervals for long-term investments. Instead of attempting to predict and forecast the market's stability and when the change will occur, a better strategy is to simply have a portfolio that is well prepared for any eventuality; according to Bloomberg, some people have been averaging $150K every 7 weeks over the last four months.
The strategies are pretty tough for the average Joe. In fact, they are typically carried out successfully by professionals with a wide range of abilities and experience.
I absolutely agree; I'm 60 years old, recently retired, and have approximately $1.25 million in non-retirement assets. Compared to the total value of my portfolio during the last three years, I have no debt and a little amount of money in retirement funds. To be perfectly honest, the information offered by invt-advisors can only be disregarded, not overlooked. Simply conduct research to choose a trustworthy one.
Do you mind if I ask you to recommend the coach you used? It appears you've sorted everything out.
I've tried a few over the years, but I've been with '' Sophie Lynn Carrabus" for approximately five years, and her performance has constantly been remarkable. She is well-known in her industry; look her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
@@PhilipDunk Could you kindly elaborate on the advisor's background and qualifications?
Sophie Lynn Carrabus is the advisr I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
The fact that nobody talks about the book Forbidden Money Behind Closed Doors talks about how people control money
Hallelujah! God is still performing wonders. I'm positioning myself for such miracles. This is the best thing I've seen today on RUclips-thank you so much!.540k earned so far.
To be successfully in life one must take risk, investing brings success that’s why the rich will never come out in public to tell you how they make their money
The crypto market has been unfavorable for months and I keep losing my money selling-off during dips, I'm very scared of holding right now, how do you guys still make so much….?
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds... But miss michelle sule
, restored hope shes a good woman
You're right! I've been trying to trade but I keep making losses and it's frustrating
Who is your mentor please. how can I reach him/her I really need help
So nice to see noah rachel talked about here,her good works are speaking already, and like wide fire she's spreading.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1.25m in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Hello, I don't know anything about investing and I'm looking to invest, any help? As well who can I reach out to?
Most people today have been having a lot of failures in investing because of poor orientation and bad experts.
It's wise to seek professional guidance when building a strong financial portfolio due to it's complexity.
I think I'm blessed if not I wouldn't have met someone who is as spectacular as Patricia Strain
Talking to an expert like Patricia Strain to reshape your portfolio is a very smart move
Patricia's unique strength lies in her realistic approach which makes her different from other brokers who often set unattainable targets and fall short in delivery
Amazing list, Austin! Over time "sacrificing" becomes a series of habits that are no longer sacrifices, but ways to win 🎉
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Grace Miller.
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'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
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
Living below my means is no problem since I have the internet haha RUclips for life! Plenty of fun here
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I have noticed our wealthiest friends seem to own small amounts of high quality items. They have four great paintings on the walls but not much else. Not a lot of furniture. They do spend money on high quality food and wine. Solid but never flashy cars.
Good information! I just invested in my first new multifamily apartment building, which will have 5 units fully furnished with garages. It's possible to do so and get out of the lie of looking and living rich by being rich with less than $15K
One thing Im proud of that I did this year was paid off my credit card debt! That shit burdened me for over a year!!! Now the 10% of my salary that used to go to the credit card installment is split to extra selfcare and building up emergency funds. Im getting better with my finance and Im loving it❤❤❤
That is really sensible and I'm glad you feel better for doing it and you get to keep more of your money
Getting closer to achieving this feat by January 2025 everything will be paid off, hasn't been easy, but so much peace that I wonder why it took me so long to see the negative impact of what having debt can do to you, physical, mentally and emotionally
@@CMJ_1 yes! It's mentally drowning. I remember resenting my past self because I had to pay credit card debt over the things I bought because i couldnt control my consumption. With that said, I could say I am better off now managing my finance. I wish you luck in your journey to financial freedom!
@@joannedibben2352 thank you! I indeed feel better without credit card debt. I have debit card and now think twice or three times before I spend money on anything. Lol wish you lucj on your financial journey 😁
All of these were the lessons that I learnt from my grandmother. I thought that they were boring but now that I am an adult, I realised that they were worth it. I have also passed them to my daughter. Thank you for sharing this with the world.
it's amazing how smart our grandmothers become when our own children are grown.....simply amazing.
You are that one friend that everyone NEEDS🎯👍🏼
haha, thanks!
@@ElAgustinplease make a vdo on Ronald read, the millionaire janitor
An average lifestyle is so soothing. Peace of mind.
TRUE
Doesn't get said enough
Great video! I will suggest that these aren't necessarily sacrifices and they can yield positive results unrelated to wealth. For example, cooking your own meals is likely to mean eating smaller portions, eating better quality food, and simply slowing down. Reading a book instead of watching Netflix will expand your knowledge, deepen your ability to concentrate, make you more literate. In short, if you think of these techniques as part of living intentionally rather than sacrifices, you're less likely to feel deprived.
I agree. I follow a Ketogenic lifestyle and I can ignore 95% of supermarket produce. I cook everything from scratch and I only eat twice per day. Ready meals are deadly.
@RobCLynch, why deprive yourself of food? What are you afraid of? Talking about keto. Eat.
@Observer100-cn7gv I deprive myself of nothing. I love eating a proper human diet. When I go on holiday, I eat SAD to some degree on all-inclusive, but that one week per year. I'm very happy with Beef, Bacon, butter and eggs
I’m genuinely inspired by his journey! He’s not just making money; he’s setting new standards for success with his unique and thoughtful approach
I've been working on my challenges towards convenience. Having no interest in luxury and expensive stuff, I feel justified to live a "comfortable" life.
All my 54 years I wanted to be rich. Now that I am I realize being comfortable means everything!! My Honda is payed for and I pay all my bills on time
It’s funny, once you have some money in the bank, it seems you don’t want all that stuff you once wanted to buy. You know you can just buy it outright, so it’s not so pressing like it once was.
You explained this all like a phd. You will go far in life. Much wisdom for a young man.
I appreciate it!!
Wish I would have done these things when I was younger. Always living paycheck to paycheck. I’m older and wiser now, but know older folks who are still living beyond their means. It feels good having money in the bank. Never knew this feeling in my younger years. Thanks Austin, and you’re making a difference in your viewer’s lives. 🥰🇺🇸🥰
Well said. All but one of my friends are spenders. They wouldn't know how to save money if their lives depended on it. I always tell them you have to self sacrifice to save, like I always have done. But they don't want to hear that. I think it's something you are born with, the ability to manage money properly. Some people have it, some people don't.
Such an honour to listen to your speech. So simple, yet so deep. Greetings from Romania y muchas gracias para todo lo que haces!
Thanks for watching!
I’ve always been frugal with I manage my money well, which allows me to afford a mortgage, and I own my cars outright. Some of my co-workers struggle with their finances and seem to dislike me for it. They choose to live pay check to paycheck.
They do because they're drowning. The enslaved hating those who choose not be an permanent indentured servant and that's what 95% are and they know it.
@ thank you
Another fantastic commentary on how to live well, by making your finances work for you.
I liked "cars are wealth killers" 👌🏻
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Pls how can I reach this expert, I need someone to help me manage my portfolio
"Sophia Irene Powell" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks
I don’t have many friends that I need to show off to so I am actually more happy than those with a ton of “friends” that they constantly need to compete
I have friends that are fairly well off, I'm probably the poor kid of the group. But you'll never find such a bunch of frugal people anywhere. We compete by showing how frugal we are ;) And most of them are pretty sharp at investing as well. I've learned a lot from them. That's the type of friends that will help you build wealth.
The elephant in the room that this video and so many others ignore: KIDS. Having kids too young, outside of marriage, before you have a decent income, or some combo of all 3, sinks a lot of people financially for the rest of their lives.
We became parents when we were still students. We managed to make ends meet with very little money back then. Now we both work and our daughter is 5 years old. We haven't really changed our lifestyle since then and have the opportunity to save and invest more than enough. We have also set up a fixed savings plan for our daughter so that she has an easier start to her adult life. In short, it all depends on how you deal with the situation.
@M.S.5555 People who are the exception always comment when I say such things. Most people deal with the situation poorly, as statistics generally show. Glad you're the exception, but you're not the norm for this situation.
Yes, the "Bubba Hilljack DEATHstyle".
I think people need to sit down and work out just how much they can save on a monthly basis. Even if it’s only £50 a month, over time that will snowball into a good chunk of savings.
£50 a month, is £600 after one year.
We live below our means. Paid off cars, only 15% of our after tax income goes to the mortgage. Our neighbors have a huge house and the wife doesn’t work and they complain how they are struggling….
Excellent video! Only 1 minute in but my gosh you are smart!
I started a savings account while watching your video. I'll watch more. Thank you for the content.
Awesome!!!!
Thank You so much for this amazing Video!!!!! I know people who earn double and triple what I do,,,,,, but they are always complaining that the money is not enough. Through saving and budgeting in detail and responsibly, I saved money to invest and today, theoretically, I could live off my investments. I did this without anyone's help, just studying and researching. Life is beautiful when we wake up to the fact that those who are not born with a silver spoon must have responsibilities to achieve a pleasant financial life.
I’m trying to both. I’m not living for a future I may not live to see. But also saving and investing where I can
I'm glad you're finding a solution, after the crazy sad flooding of your previous apartment! 🎉😁
Good luck!! 🤞 Your dad's place looks totally nice and clean. 😊
I have been investing for a few years. I have reached a point where I could benefit from financial advice to improve my $200,000 portfolio for retirement, how do I maximize my ROI?
You didn't provide detailed information about your portfolio makeup. However, I recommend seeking guidance from a financial advisor for a well-informed portfolio restructuring.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2023
I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
Sonia Nunes Demelo is the licensed advisor I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment
Her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
Gracias Agus☺️ buenísimo el vídeo.
a ti!
You completely nailed it here, Austin, with your list of sacrifices. The first time I sat down and created a budget for myself was a real eye-opener. I already created one for 2025 last week. Gracias por compartir tus conocimientos con nosotros.
Thank you!
Good presentation Austin. I would like to add something I don’t think you mentioned. That is, you must set and focus on long term goals. Set big goals but give yourself reasonable time, like 5 years to meet them. I’m talking goats like purchasing your first car with cash, by, let’s say age 35. Then, for example, set the next goal of buying and owning a home by age 40. Then a next goal could be to have, say $30,000 dollars working for you in the stock market. You get the idea. As life progresses, set higher goals for wealth. This works, because if you are sincere, these goals will cause you to focus your efforts on specific and worthy goals that give you a reason to consider each expenditure along the pathway as to whether or not it is consistent with your ability to achieve the goals you set. It will help you to disregard frivolous spending of your money. Once you meet your first big goal., you will receive a mental lift that will drive the next one.
As always great video Austin
Thank you!!!!
Austin, remember that as a self-employed person, you also have the ability to set up a SEP IRA, and your medical premiums may be tax deductible outside of itemized deductions. Worth a session with a tax expert to look into all your options, as your circumstances allow.
I have a real accountant this year helping me! Being self employed is soo expensive and I hope he can help me maximize my write offs!
You know you're on the right track when you do not aspire to be wealthy anymore, yet you can still live below your means. #ibuynothing
Awesome ❤
Thanks Austin.
Not being in debt make for a much more enjoyable life, work hard, learn to budget, spend less than you make, invest wisely and when you retire you will be at peace!!!
Love Love Love!
You’d be amazed what you can find on clearance
I like to imagine what the 20 years from now me would want me to do now.
Thank you 👍.
Thank you for the information. To me everything you said is just common cense and basic mathematic. I would like to add just a few important points from a long list I personally followed/follow while building top 1% plus wealth (top 1% wealth is starting from as low as 8 million AUD). Very important to be the best in what you are doing, work significantly longer hours than others, believe in yourself, be prepared to handle envy, incorporate research/learning into your daily life, control/supervise your own investments/finances, be honest, kind, considerate, savvy and protect yourself. From a very young age I learned from my family including my favourite countess great ant, that presentation is very important, I ensure that I am elegant inside and outside, wear quality outfits, very clean shoes and perfectly ironed clothes. At the beginning of the wealth building journey I purchased my outfits on sale, due to the quality and classic style I wear them today.
Great content!
Thanks, Kish!
In all, the IRS announced more than 60 changes for the upcoming tax year. How much they’ll impact you depends on your income, financial health, and tax strategy.
As with any tax updates, it’s smart to consult a tax professional on how to make these changes work for you. And it’s important to remember these changes take effect in the 2025 tax year - they won’t do you much good when it’s time to file your returns this coming spring.
Muchas Gracias.. ❤
Before I stopped dca-ing into my retirement account, it was 220k and has now depleted to 175k in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.
If you want to rebuild your retirement by yourself, without the help of a partner, I will tell you it is near impossible. Even NewRetirement and co can’t do the job of an FA with expertise, a large following/client base and experience. Vet and hire one and begin to develop a rapport.
How can one get in touch with them? I’m looking for a fiduciary what’s the kinda fee for consulting?
Next year will be my year to live below my means and I am really looking forward to it.
Me too!
Just start now.
@@Tourwithesther. There are certain things I cannot change immediately like my living and job situation.
In agreement 💙
My sister is dying.. she told me she cannot take any of her money with her when she leaves this earth…
At the start i thought i would have to change my mentality a lot to reach being wealthy, but after watching it i realized im not too far. I need to set some goals, and stop making excuses. Good enough spanish, not sure if you are studying a specific accent. Maybe colombian accent.
iirc he lived in Ecuador some years.
The worst thing you can do is work for a company or business. People need an escape. At least, people who respect themselves seek that.
Sacrifice, hard work, a millionaire mindset, outside the box thinking, and determination to never give up. Those are the keys to getting rich... You're welcome.
Great message 👍 🏴
It is tough when you make the sacrifices and become wealthy but then the sacrifices become the new standard in your life. Simplicity in life is great, but then you have to learn to give yourself "permission" to spend that money (Example: I am not buying eggs because they are more expensive this week/month).
It's hard to explain until you've lived it....
When you have to look at the price of eggs, you are far from wealthy.
We aren't wealthy, but we are comfortable. We make some sacrifices, but live under our means which allows us to grow our money. I don't believe budgets are sacrifices. I do believe that not spoiling ourselves now is a sacrifice. Next year we're going to Hawaii. We have been saving for this trip for a few years. If you save long enough you will have what you want.
thank you
could you have a Solo401K or SEP IRA? curious
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My CFA ’’ Sharon Ann Meny, 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..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Sacrifice 😂 love it.
Is that your new place? If so, congrats! 😊
No, it's my dad's. I should be in my new place soon.
@ElAgustin Is your dad's place closer to your new place, or did your mom decide you already came back once so now it's your dads turn to host? 😂😘
Austin what's your thoughts on Camalas plan to tax unrealized capital gains?
Never wanyed to be rich. Help myself and none beggars.
2:11 perfect husband wife 😊😊
Amen!
Excellent video. Your voice is soothing. One thing I disagree with is giving up some of those comforting things. As Ramit Sethi says, you won't make a huge difference in your rich life by giving up the $3 things (figuratively speaking). Focus on the 3000 dollar questions like your fixed costs.
Fact
Would you please make a video on life insurance?
Did you get a new place?!
Yes he got hit by the hurricane
I'm couch surfing right now moving from place to place. I should be finally moving into the new place this weekend. Over a month bouncing around!
@@carterdawsonn I knew he got hit by the hurricane but was wondering if he moved into a new place considering the new back drop
@@ElAgustinI’m glad you will have a new place soon!
It's pretty plain, I know. My dad has no sense of decorating.
True
The hardest thing is saving $100,000. That's the magic figure. Once you've done that, there will always be an income stream coming in.
. Love the advice tho!! But why don’t you ever have a video about giving back? Donating money or helping the less fortunate? You even mentioned to stop tipping waiters! Which is beyond crazy. I believe if we’re all following fugal life then we should be able to help others. Even Dave Ramsey says we should give. “Live like no one else, so later you can live and give like no one else” I just want to know your reasoning behind it
Now I have something a bit controversial to ask. Let’s say you wanted the expensive car and bought the average car, saving the money for 30years. What if you are not granted those 30yrs? Should you have gotten that expensive car you really longed for? 🧐
Believe it or not, I don't wish to be wealthy, I just want a well paid job to afford rent & bills, food and gas, that would work for me 🤷🏻♀️ even if I don't have anything left for health insurance or for savings, to fully cover those expenses every month would be great 👍
Damn 🔥
Good video, very well presented. Everyone should watch & re-watch until all points become second nature! p.s. what's with all the dirt on your face? Scrub, scrub, scrub.😀💙
Delayed gratification. Learn it early.
El Agustín me dijo 😂
You have to be half grasshopper and half ant financially.
Hello 👋👋
That's why I have 3 Passive incomes and invest in True Money Called Gold Bullions 😊.
Live below your Means. Avoid debts+ liabilities 😊
Frugal lifestyle believer. No inflation lifestyle.
Avoid Debts. Buy completely Cash Stuff 😁. No Rich..... Be Wealthy 🤑
so true but nobody listing haha
Very true. They will only complain and try to act humble while broke. Happy I actually listen
Those that do listen grow. Not only themselves, but their wealth.
Most people don’t listen because they see budgeting as lack whereas likeminded people like Austin and us see it as gaining abundance and control. Mindset is everything!
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
If you are thinking of investing in the stock market and you are not well versed, its advisable to work with a financial advisor who is an expert to guide you through the process. this way you could make more profit with less risk
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Factos!! Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Put my first 10k into crypto and opened 2 businesses.
Never put your money in bank or credit cards , make your money work for you
❤❤❤
It's hard to make a sacrifice when so many evil eyes are upon you. I had to sacrifice more then I almost got arrested ahahah
Don’t own a credit card
Save so much money and the back allows you to take out a bigger loan if you don’t own a card
So spend less and invest.
I'm 50 years old and I'm more interested in investments that could set me up for retirement, I mean I've heard of people who made hundreds of thousands during these crises, I heard someone on a podcast who made over $650K in less than a year, what is the strategy behind such returns?
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly difficult. Therefore, I will suggest you get a financial advisor who can provide you with entry and exit
@@Kylene7
Many people minimize the role of adventurers until they are burned by their own emotions.
I remember a couple of summers ago, after my long divorce, I needed a good boost to help my business stay afloat, so I looked for licensed counselors and came across someone with top qualifications. It has helped increase my nest egg despite inflation, from $275k to $850k.
How can you find a verifiable financial planner? I wouldn't mind finding the professional who helped you. I'm retiring in two years and may need some management on my much larger portfolio. I don't want to take any risks
plot twist... Austin is secretly wealthy
but lives extremely humbly so as not to arouse suspicion : )
Great video! I can’t say enough about my investment coach Katrina Susan-she’s completely turned my life around. I started with a small investment, and now I’m finally free from debt. I’ll always share her work with others because she’s truly made a difference in my life. Thank you, Katrina!
Wow, it’s amazing to see Katrina Susan mentioned here! I didn’t realize she’s helped so many people. I’m currently on my fifth trade with her, and each one has been outstanding. Highly recommend
Katrina is not only my family’s trusted broker but also a reliable advisor to many families here in the United States. She has the experience and integrity that so many of us need
Isn’t it great to see how many people know her? I thought I was the only one she had guided through the ups and downs of trading. She’s made such a difference in my journey!
I’m just starting out-can anyone help me reach her?
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
so basically sacrifice everything... ok simple enough.
Or go all in on Bitcoin. Worked for me.