I should add that the dude should see a professional advisor about this, to at least get a good second opinion. But don’t buy anything!!!! Pay for the advise. But don’t buy anything or transfer your money into their company etc. And go read The Simple Path to Wealth. That’s basically all you need to know about investing in indexes.
And very important, as I’ve said before, I’m no professional!! Take my advice with a HUGE grain of salt. Always double check your numbers and figures! And all are welcome to add to the video. I did this video in 2 takes. Once before my workout and this one after my workout. I’m more than likely missing other important points :)
@@prematureoptimism7125 yeah not surprising unfortunately when considering 70% of the population has less than $10,000 saved, and 60% have zero. Truly sad.
@@RetireearlyNYC If it was as high as 90% no doubt we would definitely be on the edge of an all out REVOLUTION. Or maybe I was trying to be somewhat optimistic. 🇺🇸 🤔 🇺🇸
@@prematureoptimism7125 You’re right. I was thinking they can’t afford to but do it anyway by spending way less. I doubt more than 10% can retire and live as they’ve always lived until they die. That is, if the average 401k number, average $$ 70% of population have saved etc are to be believed. OTOH, most people do end up spending less the older they get. So, perhaps my pessimism is unwarranted. Ok, I’m likely being too pessimistic. I’m glad I’m wrong lol.
@@mp22422 well he definitely went overboard lol. Spent millions per bunker. Each with its own security etc on acres of land. Crazy. Yeah it was fear. Extreme fear.
Also, don’t tell anybody about the money!! Don’t let anybody con or guilt you into giving away any significant portion of your money!! When your portfolio has grown to a large enough amount, then you can afford to give a certain % away to help family members etc. not to exceed the 4% rule of course. Good luck!
@@RetireearlyNYC definitely... Never show off to anyone because they will envy you and start to hate you. I didn't know this before . Too arrogant sometimes and it's a lesson learned. You friends don't want you to live better than them
I would go to a cheap country. Give yourself a monthly budget of 1500 and live off interest and safe investments. And this is exactly what i did. Game over..
@@JK-ks3xq you and exactly 1/3 of all investors and their advisor, on any given day. Lol. Another 1/3 say it’ll go sideways. And another 1/3 say it’ll go up. I say I don’t know. 🤷♂️😉
@@Pomelu could be;) But also, how many times have we heard that? This year alone… If it comes, guess I’ll have to tighten my belt and try to buy some assets on the cheap :)
@@Pomelu So what factors will lead to the reset? Will it be worse than the 2000 tech bubble or 2008 financial/housing crash? Give us the details. Explain to us the way I’ve tried to explain my positions here :) And if it happens we will be thankful for the info. :)
Lotta shorts been getting their asses kicked trying time the top these past months. I trade S&P futures daily. I don't really care which way it goes I'll profit either way, but my friend quit cause his 100% short bias screwed him on too many uptrending days lol.
Hi Johnny. Love your videos. I am divorced, 48, and have 1, 11 year old daughter who stays with my ex wife. This is my only child. She had 100k in her NY 529. Her mom does not contribute anything to this account, but she is listed on the account. I have no idea where she will go to college, most likely Univ of Maryland. Do you think you would contribute more to this account if you were in my shoes? If so, at what amount would you stop? Thanks.
@@richardm.441 hi Richard. Thanks for watching! Regarding the 529, that is totally a subjective question of course. I have no idea what your resources are and what your expectations are for your child, etc. But as for me and my wife, we contributed enough to take them most of the way if they went to a state school in state. The rest they will have to borrow. And we would lend to them at 2-3%. We both feel a child should have skin in the game and not be given everything. They must know the pain of working hard to pay the bills. So I would say $100K at age 11 is plenty and certainly more than my kids had at that age :) You’ve done well:)
put 1/2 in SCHD and 1/4 in SPY and 1/4 in VOO…. if it goes down, SO WHAT …. there has NEVER been a time in history where the market doesn’t come back …. live off the dividends and watch your portfolio grow ….
@@Area51-is6vg I’m for buying even if it’s a little more expensive. The stability and peace of mind that comes with it outweighs the hassles. I don’t want to get kicked out of my home anytime the landlord wants me out. For example, if he were to sell the rental. Or jack up the rent etc. I’ll pay a little extra for more stability. But it comes to down individual preference and how the total numbers stack up. If rent is ridiculously cheap compared to owning, I’d rent :)
Keep everything to yourself as much as possible including family members. I trust my family, but I know former co - workers & some friends start to think evil ways to get $$$. jealously is one big thing had happened to me w/ co - workers. because I live my life like Jhonny NYC - frugal / save / investing / some inheritances, I didn't blow away my $. I do have lots of hobby & spend $ limited amount on old cars / motorcycle etc. some co-workers don't like that especially I never work overtime until last few years prior to retirement. just invest like Johnny, I lose money in 90's but I learn patience & stay in long term - so far from 2002 now my investment is like what Johnny said. good luck stays focus / patience / consistence savings / live within your means but reward yourself time to time within reason.
Do one on investing during a recession! 😮They say that fortunes are made during recessions… I’d love to hear your experience during g the ‘08 recession and how it I forms you about this one we’re currently in.
@@BK-gh9us Yeah that’s on my list of to do: how to invest during a market crash. Quite simple actually. We tightened our belts and bought as much as we could. Crap maybe I don’t need that video anymore lol.
@@RetireearlyNYC nothing surprises me anymore since I worked over 20 plus jobs as out of status since I arrived to this country I am very indifferent to life but still very angry the only thing about me right now I am 50 and I am very healthy look 40
@@byron9630 I know you asked me about college. It’s in the works;) However I must say that it probably won’t be a good video since I don’t think about college or read about it nearly as much as investing lol.
@@RetireearlyNYC that is my general fund I can use to handle any emergency, such as a medical expense, moving expense, having to buy a new car, anything really. That's the only cash I have, everything else is invested. I think I will plan on working less now and traveling more now that I think about it!
If u cant miss the money for 5-10yrs then you cant invest. Simple as that Investment is like a bar of soap: the more you touch it (buy and sell and transactions) the smaller it gets BUY RIGHT AND HOLD TIGHT! Sp500 and chill for me
@@RetireearlyNYC u know whats funny. Ur channel which has superb info and then losers making millions with garbage advice. Means the public sucks and rewards the wrong things
Market currently near all-time highs and could tank to 1929 levels given the extreme volatility and unpredictability with the Fall elections approaching so unless this viewer of yours is prepared to wait long-term and ride the big dips indexing maybe a risky move at least for the shorter term. Probably worthwhile to consider apportioning some of it to a guaranteed high yield savings or treasuries.
@@RetireearlyNYC Also, guaranteed investments may be subject to higher tax implications than capital gains (certainly the case in Canada). Any suggestions to hedge against inflation or currency devaluation due to endless QE eg, physical assets like gold/silver, cryptos (albeit speculative and highly volatile space)?
@@hz240as for hedging…I personally don’t have gold or crypto. My hedge is living WAY below my means. So that’s what I was trying to tell the dude. Live on that steady $3000 a month income. Save the rest for later. That way even if the market drops 50% tomorrow, he won’t have any problems :)
@@HelloWorld-hb7yt What max said above. Plus there are little things like you can withdraw $20K a year from your 401K tax free if you’re under a certain income threshold or something like that. I’m not there yet so I don’t know much about it ;)
I should add that the dude should see a professional advisor about this, to at least get a good second opinion. But don’t buy anything!!!! Pay for the advise. But don’t buy anything or transfer your money into their company etc. And go read The Simple Path to Wealth. That’s basically all you need to know about investing in indexes.
And very important, as I’ve said before, I’m no professional!! Take my advice with a HUGE grain of salt. Always double check your numbers and figures!
And all are welcome to add to the video. I did this video in 2 takes. Once before my workout and this one after my workout.
I’m more than likely missing other important points :)
Thank you Johnny! great insight for people like me building the foundation
@@mp22422 YW!
Excellent advice. Exactly what im doing
@@davab thanks for dropping by :)
A new study found that nearly half of all middle-class Americans don't plan to retire at 65. I'm shocked 🤔
@@prematureoptimism7125 yeah not surprising unfortunately when considering 70% of the population has less than $10,000 saved, and 60% have zero. Truly sad.
@@RetireearlyNYC If it was as high as 90% no doubt we would definitely be on the edge of an all out REVOLUTION. Or maybe I was trying to be somewhat optimistic. 🇺🇸 🤔 🇺🇸
@@prematureoptimism7125
You’re right. I was thinking they can’t afford to but do it anyway by spending way less. I doubt more than 10% can retire and live as they’ve always lived until they die. That is, if the average 401k number, average $$ 70% of population have saved etc are to be believed.
OTOH, most people do end up spending less the older they get. So, perhaps my pessimism is unwarranted. Ok, I’m likely being too pessimistic. I’m glad I’m wrong lol.
@@RetireearlyNYC RON ( Reality Or Nothing ) ✊🏽
Reality check : Over 11 million Americans can't afford to retire. 🤔
@@prematureoptimism7125
I’m surprised it’s that low lol. I’d say 90% can’t afford to retire and keep up with their former lifestyles.
Prepper mentality has fear, it’s important to prepare, but they go overboard with it- what do you think?
@@mp22422 well he definitely went overboard lol. Spent millions per bunker. Each with its own security etc on acres of land. Crazy. Yeah it was fear. Extreme fear.
Also, don’t tell anybody about the money!! Don’t let anybody con or guilt you into giving away any significant portion of your money!!
When your portfolio has grown to a large enough amount, then you can afford to give a certain % away to help family members etc. not to exceed the 4% rule of course.
Good luck!
Thanks Johnny!
@@RetireearlyNYC definitely... Never show off to anyone because they will envy you and start to hate you. I didn't know this before . Too arrogant sometimes and it's a lesson learned. You friends don't want you to live better than them
I would go to a cheap country. Give yourself a monthly budget of 1500 and live off interest and safe investments.
And this is exactly what i did. Game over..
@@PetervanRossum-y4l that is a great option as well :)
@@PetervanRossum-y4l single guy for sure.. kids and family might be harder
Good advice.
Thanks ;)
.....and their 401K is about to crash with the equity & debt markets!
@@JK-ks3xq you and exactly 1/3 of all investors and their advisor, on any given day. Lol. Another 1/3 say it’ll go sideways. And another 1/3 say it’ll go up.
I say I don’t know. 🤷♂️😉
normies dont know the reset is comming
@@Pomelu could be;)
But also, how many times have we heard that? This year alone…
If it comes, guess I’ll have to tighten my belt and try to buy some assets on the cheap :)
@@Pomelu
So what factors will lead to the reset? Will it be worse than the 2000 tech bubble or 2008 financial/housing crash? Give us the details. Explain to us the way I’ve tried to explain my positions here :)
And if it happens we will be thankful for the info. :)
Lotta shorts been getting their asses kicked trying time the top these past months. I trade S&P futures daily. I don't really care which way it goes I'll profit either way, but my friend quit cause his 100% short bias screwed him on too many uptrending days lol.
Hi Johnny. Love your videos. I am divorced, 48, and have 1, 11 year old daughter who stays with my ex wife. This is my only child. She had 100k in her NY 529. Her mom does not contribute anything to this account, but she is listed on the account. I have no idea where she will go to college, most likely Univ of Maryland. Do you think you would contribute more to this account if you were in my shoes? If so, at what amount would you stop? Thanks.
@@richardm.441 hi Richard. Thanks for watching! Regarding the 529, that is totally a subjective question of course. I have no idea what your resources are and what your expectations are for your child, etc. But as for me and my wife, we contributed enough to take them most of the way if they went to a state school in state. The rest they will have to borrow. And we would lend to them at 2-3%. We both feel a child should have skin in the game and not be given everything. They must know the pain of working hard to pay the bills. So I would say $100K at age 11 is plenty and certainly more than my kids had at that age :)
You’ve done well:)
I wish I could live below 3000$. But I can’t move my job with me
put 1/2 in SCHD and 1/4 in SPY and 1/4 in VOO…. if it goes down, SO WHAT …. there has NEVER been a time in history where the market doesn’t come back …. live off the dividends and watch your portfolio grow ….
@@kev13nyc pretty much!
Do not buy home. Rent a one bedroom apt. If you buy a home you are responsibly for everything.
@@Area51-is6vg depends;)
@@Area51-is6vg I’m for buying even if it’s a little more expensive. The stability and peace of mind that comes with it outweighs the hassles. I don’t want to get kicked out of my home anytime the landlord wants me out. For example, if he were to sell the rental. Or jack up the rent etc. I’ll pay a little extra for more stability.
But it comes to down individual preference and how the total numbers stack up. If rent is ridiculously cheap compared to owning, I’d rent :)
That is basically $30,000/year for life... Any you'll never lose your principal
I want to be rich and anonymous.
Keep everything to yourself as much as possible including family members. I trust my family, but I know former co - workers & some friends start to think evil ways to get $$$. jealously is one big thing had happened to me w/ co - workers. because I live my life like Jhonny NYC - frugal / save / investing / some inheritances, I didn't blow away my $. I do have lots of hobby & spend $ limited amount on old cars / motorcycle etc. some co-workers don't like that especially I never work overtime until last few years prior to retirement. just invest like Johnny, I lose money in 90's but I learn patience & stay in long term - so far from 2002 now my investment is like what Johnny said. good luck stays focus / patience / consistence savings / live within your means but reward yourself time to time within reason.
@@masonloh1411 excellent advise. And also I like the ending: reward yourself from time to time!! That’s what money is for:)
Do one on investing during a recession! 😮They say that fortunes are made during recessions… I’d love to hear your experience during g the ‘08 recession and how it I forms you about this one we’re currently in.
@@BK-gh9us
Yeah that’s on my list of to do: how to invest during a market crash. Quite simple actually. We tightened our belts and bought as much as we could. Crap maybe I don’t need that video anymore lol.
strange world we live in every situation counts..... things just happens to people
@@annielin2894 yes luck, circumstances do play a role.
@@RetireearlyNYC nothing surprises me anymore since I worked over 20 plus jobs as out of status since I arrived to this country I am very indifferent to life but still very angry the only thing about me right now I am 50 and I am very healthy look 40
@@annielin2894 being healthy counts for a lot too:)
Lots of people with more money wish for better health.
@@RetireearlyNYC yes I am grateful for my good genes
Waiting for your next vid !!
@@byron9630 thanks! I’ll be posting one later tonight after work. Second work day this week so I’ll be done for the week. Tonight is my Friday;)
@@byron9630 I know you asked me about college. It’s in the works;)
However I must say that it probably won’t be a good video since I don’t think about college or read about it nearly as much as investing lol.
Perhaps you can comment on my situation: I'm a single,
@@modernmonger7430 the world is your oyster lol
@@modernmonger7430 go spend some money and enjoy the fruits of your labor ;)
@@modernmonger7430 why do you have so much cash?
@@RetireearlyNYC that is my general fund I can use to handle any emergency, such as a medical expense, moving expense, having to buy a new car, anything really. That's the only cash I have, everything else is invested. I think I will plan on working less now and traveling more now that I think about it!
@@modernmonger7430 you’ve bought your freedom. Now go enjoy it!! :)
Most people can't lock up cash for 10 years unless it's a company retirement account
@@MR707videos that is correct. But that is the way to wealth. Delayed gratification.
If u cant miss the money for 5-10yrs then you cant invest. Simple as that
Investment is like a bar of soap: the more you touch it (buy and sell and transactions) the smaller it gets
BUY RIGHT AND HOLD TIGHT!
Sp500 and chill for me
@@DarkoFitCoach yep!!!
@@RetireearlyNYC u know whats funny. Ur channel which has superb info and then losers making millions with garbage advice. Means the public sucks and rewards the wrong things
@@DarkoFitCoach yep again! Lol. And thank you.
It’s bc I have nothing to sell :)
Market currently near all-time highs and could tank to 1929 levels given the extreme volatility and unpredictability with the Fall elections approaching so unless this viewer of yours is prepared to wait long-term and ride the big dips indexing maybe a risky move at least for the shorter term. Probably worthwhile to consider apportioning some of it to a guaranteed high yield savings or treasuries.
@@hz240 yes ride it long term and don’t touch it. Use his $3000 income to live on. He will need to assess whether he stomach the short term
@@hz240 however, it’s probably worth his while to read up on short term high yield vehicles like treasuries as you mentioned. :)
@@RetireearlyNYC Also, guaranteed investments may be subject to higher tax implications than capital gains (certainly the case in Canada). Any suggestions to hedge against inflation or currency devaluation due to endless QE eg, physical assets like gold/silver, cryptos (albeit speculative and highly volatile space)?
@@hz240
Yeah I don’t know anything about taxes lol. Sorry.
@@hz240as for hedging…I personally don’t have gold or crypto.
My hedge is living WAY below my means. So that’s what I was trying to tell the dude. Live on that steady $3000 a month income. Save the rest for later. That way even if the market drops 50% tomorrow, he won’t have any problems :)
I would put aside 200k for bitcoin and kaspa
No
Fool.
Johnny, how do you withdraw money from stocks with gains without paying cap gain tax?
@@HelloWorld-hb7yt as far as I know you can’t lol. It’s income. Ya gotta pay the taxes ;)
Roth IRA or withdraw little amount to.minimize tax. Withdraw only after a year to qualify as long term investment
@@HelloWorld-hb7yt
What max said above. Plus there are little things like you can withdraw $20K a year from your 401K tax free if you’re under a certain income threshold or something like that. I’m not there yet so I don’t know much about it ;)
@@RetireearlyNYC agree.
Is there anyplace you can find a house for 100,000 I don’t think so
@@peterkaleikinijr3434 dunno. Maybe a shack somewhere. Sit on it until his portfolio grows to a decent amount
@@peterkaleikinijr3434
Buy a trailer ;)