Michael, I am a fan. But when your content touches on politics it makes me uneasy. The American economy is deeper and bigger than politics. Corporations are a powerful lobby group for both parties. Money is the powerful party not politics. Personally, I'm not ready to turn over the White House to a wanna be dictator who idolizes Viktor Orban and Putin. I don't want to live under autocracy like China and Russia. Soon, we could be arrested for posting opposing views against Trump and his "movement." smh 😟
Presently, we are living with an uneasy environment of cancel culture, large government and division. Nothing is uniting us and I feel we can’t continue on this agenda, rather counterproductive for personal and economic growth. We need new leadership.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Very true, you can be passively involved in the markets and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I disagree I've been in construction 40 yeas also and 09,10,11 and 12 no houses being built so I went broke, now at least they are still building, but I do agree housing costs are ridiculous😮
We cook at home. We are tired of being disappointed with the quality and price of food, service etc and they are pushing the alcoholic beverages. Prices are starting to come down in Northern Virginia. The realities of these markets will come to fruition, just remember it will affect everyone differently.
What part of northern va ??? I used to live in Great Falls , Va , long time ago . I know the cost of living there , been expensive since the early 1970's.
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Have you noticed that corporations' profits are growing x-times the inflation rate, which means their price increases are far more than their cost increases, and stock buybacks are at a record high.
Don't know anything about gardening, but I do have some tools so I will be replacing the clock spring in my car steering wheel tomorrow - been putting them off👍.
I don't see what you say as negativity. You speak as you see it and what you see stinks. So, there's no reason to sugar coat it. If anything, I'd say your videos are peptalks filled with great advice helping people prepare for the worst. You deserve way more subscribers.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much
@wiser3754 the right pepper doesn't carry excess inventory, we're ready to produce and protect at our best ability, inventory would run out eventually and could be wasted as well , being production ready today is saving me a lot of money anyway
@@dedriannehartgers629how much is a good amount? Also, many businesses are cashless, which is awful. I’m just wondering how having cash will be helpful.
I worked like a slave for over 20 years, always kept a roof over my head. Since 2010 I have been homeless several times and it is a incredible nightmare just to find unaffordable substandard housing.
*That's called Price Gouging* !!!!! I am shrinking my choices to what I normally buy, as far as food , clothing, etc. Example if the clothing is THIN materials and looks horrible , I'm not buying . Food, we only buy the foods , we eat and not a whole lot of foods either. We are budgetting even more than we ever have in our Adult lives !!! Example I don't buy a lot of Process foods , that will make anyone sick. because process foods has to many Chemicals in it and The United States is the ONLY country , who gets away with Chemicals in the food . I seen the list on youtube. *I Have Changed My ways and mind on everything* Restaurants and fast foods , feel they can get away with RAISING THE PRICES AND PRICE GOUGE , on customers. *People better take a stand and say No , we aren't putting up with it* !!!!
You say that, and yet you incessantly bitch about getting a pay raise (for nothing in return) because YOU want more money So really its the pot calling the kettle black, huh?
@@Dre2Dee2 classic boot licker tactic blame the poor not the billionaire trying get another billion or the corporations getting some government assistance.
@@Dre2Dee2If your raises don't match inflation, your boss is demanding you provide the same services for less buying power. You seem like an expert, does boot polish come in sriracha flavor yet?
So strange. We have 107 people working at our lil factory. And EVERYONE is doing pretty good! All got raises the last 3 years. People actually laugh, talk and are friendly. Seem to be pretty positive. I guess most of us that are smart with their money and work for a good company are actually doing really good.
The IBA consists of multiple banks, an oversight committee, and a panel of internal and external chair members. The IBA sets gold spot prices and gold fixed prices based on supply and demand as well as the gold futures derivative markets.T@@--Morpheus--
Something's gotta give? That's when they said in Venezuela, right before they were using wheelbarrows to carry the money to buy 1 roll of toilet paper. It was cheaper to use the cash.
Not just a bidet, solar panels, gardening equipment, hunting tools like guns/bows etc, dig septic, dig a well, raise your middle finger to all these companies.
Being raised by my grandparents, who went through the Great Depression", many of their frugal ways rubbed off on me. It is paying dividends for me today as I remove unnecessary expenses from my life. You look in my wallet George is wearing sunglasses because it's been so long since he's seen the light. If you want to survive in this economic climate you must insist on value for your money, have an emergency fund, invest carefully and do as much as possible for yourself (eat at home, grow a garden, learn to can and learn to do simple repairs yourself). One more thing. Don't loan money to anyone. If the bank is afraid of them you should be too.
Yep - home-purchases should be limited to private individuals, and, if there's a 'housing crisis', those should have to be citizens. If corporations want to own residential property they should be invited to build apartment tower-blocks, for rentals.
No way would I want one in CO. right now. People are trying to sell left and right because of property taxes. I counted 13 homes for sale on the way to the store 3 miles from home yesterday. Things cost too much anymore, something goes wrong ...if it's too much, yikes.
I agree about trying to get rid of excess debt. I just paid off 2 auto loans and zeroed out all credit card debt. Now I'm prepared for WHATEVER the economy is about to throw at us.
@hvaball150 Good thing I don't have to worry about job loss since I'm Retired Military with a pretty nice military pension. I prefer to make my own burgers at home.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
This is huge! Think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Natalie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Agree with what our host says. Government needs to work smarter instead of increasing borrowing. No need for 87,000 new Jack-booted, gun-toting IRS agents. Jobs need to be created in the private sector
but if more tax money is taken in, there will be less money in the economy causing inflation. That is why the tax increases when Bill Clinton was President worked, the wealthy paid higher taxes and the dollar was weaker and manufacturing could compete better on world markets. Bill Clinton had the most jobs created during his Presidency.
The amount of businesses started has decline (except during covid( because people don’t have money. Keeping people broke is your companies way to keep you an employee, and stats say it’s working. No competition? Prices can go up.
Saw this coming 3 years ago. Sold my Florida home awa my Canadian condo. Did 2 smart things afterwards. Invested heavily in BTC proxies (MSTR) and moved to Thailand. Standard of living is similar however cost of living is 1/4. Glad to hear you finally mentioning BTC…the best performing asset the last 12 years. I stay in touch with family/friends in both countries…they all say “things are getting worse”. Glad i found the “Land of Smiles”.
I'm in Canada and it is basically impossible for me to rent a room and own a car at the same time working a factory job being single i never even think of home ownership at this point :(.
I am no expert , but I say , pay your debt off and continue paying your rent . If you can , can you get a second job? or is it not possible? I keep telling people to start their parttime job on RUclips . Just make sure to have a good content . It starts out slow , but at least you are trying.
Then you get a lot of inflation as the deficit and treasury debt roll overs are monitized. That's how the govt will get out of its debt trap - inflation. Anyone holding value that isn't an inflation hedge will suffer the impairment.
It goes to 1 T every 80 days...then 60. Then it absolutely stops at 58 days. Absolutely. Only kidding. It goes on forever. I'm curious what you think stops it? Are we going to run out of money? Is the dollar going to lose it's reserve status? Are we all switching to Bitcoin? Only a civil war. That's all I can think of. And they are trying.
What will happen is we’ll all have no SS with bankruptcy but there will be trillions for wars and other corrupt countries to siphon our hard earned tax dollars.
I've been a sahm for 11 years. My husband's single income has been able to support our family of five & he's never broken $100k annually. I have never felt poor - quite the contrary. Especially currently. Redefining wealth classes is about to make many heads spin.
Stacking cash and hoping this bubble bust that's all I got and I'm sticking with it. Don't care if it takes another 5-10 years I'm not paying these prices.
"Grabbing a bite to eat" still can cost about $20. I simply don't eat at expensive restaurants. And my monthly food expenses don't go above $200. (I eat mainly meat, eggs, and vegetables.)
As a handy/maintenance man in upstate ny I've seen a significant rise in calls for service. Without fail every customer is surprised I show up. There seems to fewer and fewer folks out there that want to do this kind of work.
A few years ago we nearly zeroed out. Once stabilized, we put $500/month into a 1 year CD, no rollover. Each year after, when the CD matured, we took that initial amount, added another $500 and opened another 1 year. Did this for 4 years. When my wife was suddenly transferred on 3 weeks notice, we let those CD's lapse for a few months until we were situated - and it absolutely saved our butts. Not only did we still have her regular income, but the maturing CDs helped cover moving, suddenly needing a second car, setting up the new place, etc. We've since rebuilt those lapsed CDs, have a separate savings account just for moving, paid off the second car. But having the liquidity of a few grand a month saved our bacon - even if the rates were crap when we started.
@@mowtivatedmechanic1172 Sorry for the delay, life with kids... Before maturity, you have to tell the bank that holds it what to do at maturity. Typically there are three options: cash out the entire balance to a regular checking or savings account you hold; have the interest accrued paid out to one of you accounts while the principal rolls over to a new term; or have the principal and accrued interest roll over.
@@Pencil-o1p The amounts aren't enough to really worry about taxes. With Capital One not having minimums, I've been able to build over time at a pace we can afford. Because we can access the maturity settings at any time, if we suddenly get transferred again, I can just change the ones coming up, and be assured we'll have X amount coming in monthly no matter what situation we wind up in.
Great advise Michael. I’ve “wanted” a new car over the past two years and have held off on buying one until it was wrecked, I now “needed” one and was forced to buy one. It’s not about “wants” it’s about “needs”.
I know people who plant good gardens, work hard, and can a lot of food. Those are the smart ones. They have food in a crisis if it hits. They also know what went into growing their food.
The listing homes are crawling up. However, the prices are still 30% over valued. Home owners list their prices 30% higher and then reduce 5%. The unemployment is the only catalyst to pop the bubble. The government keeps showing employment is strong and healthy with inflation “is still ~3%”.
Yes, all markets are cyclical, which is why the crash bros keep harping about the coming crash. Of course the market will go down at some point, but sitting on the sidelines and missing one of the biggest price runs in history only works out if it falls below that previous starting point.
I work in retail and they post the numbers on the billboard in the break room. Youre not kidding when you say sales are down. Theyre about 85% of what they were last year (i keep track of it because our bonus' are tied to sales, shrink, and customer service satisfaction)
They’re trapped by the price, not the interest rate. Because if those people sell right now make a profit. Rent for awhile wait for the price to come down and then take that 200,000 or $300,000 cash that you got from the sell your house and be able to buy one cash. It wouldn’t be an issue. Doesn’t matter what the interest rate is. The prices are too high, it’s never gonna work
Come to Canada $200,000 - $300,000 is your down payment, not the mortgage, at least traditional mortgages are. The boon dock homes are California money up here. Its nuts and I don't know how sh** can go any higher. Its like 15-25 years average wages here to pay the principal, let alone the interest.
I’m 53 and in debt and broke as hell. All they do is work. I’ve defaulted on credit cards and business is starting to pick up again, but it’s too damn late. All I can do is just keep working.
You can buy cash flowing rentals in the Midwest. The problem with that is... it's in the Midwest. Florida will always be desirable and the deals are coming!
There are these things that scrub the carbon dioxide from the atmosphere. They require no maintenance and last between 5 to 10 decades. Oh yeah, they are called trees. A carbon tax is just away for your socialist leaders to take your money.
Now you're talking. The spending has to stop. I'm 68, still working but very very worried about my children and grandchildren. If we don't get the national debt under control, we are sacrificing the future of the oncoming generations. People my age and older in power are making horrible decisions selfishly to make young people pay for the debt. Can you all imagine 90% of our GNP going just to pay the interest on 40 trillion. Vote for politicians hopefully younger who will not give out free money. Michael's advice is positive not negative because his plan will make your life better. I followed it for the last 40 years and am better off.
My guess: The average person that watches Michael's RUclips broadcasts is significantly smarter than the average American. Please continue mentioning to young people that Congress is the primary reason asset prices (stocks and real estate) have increased so much over the last few decades. So few Americans have taken Economics 101 and 102 courses. The extra money (US Govt. debt) in the economy eventually ends up in the hands of savers, homeowners, and business owners/stockholders. There is no easy way out of this terrible financial situation: US Government debt default, inflation, or austerity. The Social Security "Trust Fund" goes negative in 2035. The other US Government unfunded liabilities are over $120 trillion. US Government tax receipts in 2023 were about $6 trillion. The 2030s and 2040s decades is going to be financially difficult. Expect more social unrest too.
I'm making my own bacon as Michael speaks. I make 10lbs for $30. Costco. I cook everything my family consumes. I hate going out to eat. The food sucks, service sucks, overpriced food and service. I take immense pride in the food I serve my family. Not only for the cost per meal, but I get to control the ingredients. Food is a major cost of living and if more people can learn how to prepare healthy foods for themselves and the family it gets cheaper and the quality goes way up. I buy beef off the hoof, that alone saves me a considerable amount of money and it last about a year or so. Just a bit of information for those that read this. Be safe out there and love each other.
I thoroughly enjoy your videos I think they're extremely informative and very helpful I have learned a lot I want to thank you very much please keep it up,.... I think that 99% of us thoroughly enjoy you
On the point of government printing their way to prosperity, devaluing the dollar through high inflation is about the only way to cope with the level of national debt in the USA.
The question on how people with kids do it is exactly what I've wondered alot, your answer was on point, they keep borrowing or get money from their parents.
A lot of people live on edge trying to live beyond their means then they go after relatives for help, then just keep trying to live beyond their means, they never learn.
You're not alone I've got a 2015 Altima it's freaking needs a new engine 106,000 MI I'm retired and my income is not enough to get me into a car loan now
It is no joke. I'm blessed to have an okay job and work remote. I'm paying off all credit card debts by this summer while still being able to put 10% of my pay in a HYSA while investing in stocks and REITs. I have cutback on going out and spending on non-essential things. Definitely no brand new phones or Teslas over here. Lol!
We are finally giving up on renting. It is always uncertain from year to year. The rent keeps going up and the landlords seldom fix things well due to not wanting to spend money. We are having a home built. Yes, it is expensive, but at least then we will have more certainty. Job one all the time will be to make that payment on time and every quarter or so, pay a little extra. Not everyone's situation is the same. Rentals here are nearly what it costs to own a new home. I say buy a new home and work hard to keep it.
I've had discussions with a number of people regarding financial, precious metals, real estate, and other markets. By all historical indicators/charts/analysis, this economy and all of these markets should have sunk a long time ago. I keep saying, you can't predict a rigged market. It will collapse when they are ready for it to collapse, and have sucked every one of us dry. Put yourself in the best position possible, don't worry about the world ending tomorrow, live your life within your financial boundaries, and be ready to deal with whatever comes, whenever it comes.....
I am new to your channel, and I absolutely love it! I am a person who likes the "RAW TRUTH" in any and everything and that is the spirit of this channel that I feel. This weekend I have been binging on your videos. Keep being GREAT! Happy Birthday to your wife! 🎂🎉
Looking for houses last weekend in middle Georgia 2 house bought in 2022 are now discounted to lower than purchased in 2022 and both were on the market for more than 100 days.
This has happened and is happening in my area too. Suburb of Columbus Ohio. Millenials went nuts and paid too much for houses. Then property tax went sky high b/c they paid too much, and the county used their high priced houses for comparables in the state reappraisal. Now the millenials don't have the money to pay for what they bought and are dumping their houses. They made property tax high for everyone.
Taking a year and a half to do a roof seems crazy. I had mine replaced late last year and I think it was less than two weeks between getting the estimate, signing the papers, and having the roof and gutters sorted out (different teams on different days). It seems like that contractor just really didn't want to do that job or something.
Houses appropriately priced here in central Mn are still selling well. Higher priced houses 500,000 or more are taking longer but selling. Seeing some reductions but only about 10%. Homes in the country, close to a larger town or on a lake, selling well.
@@rynolonewolf I know I live here. Even with that it’s still way cheaper to live here than many places. I’m actually moving to Florida from Michigan but my family will stay here
I live in Ohio and life is still cheap but just remember one thing, when the West Coast runs out of fresh water the Great Lakes the region will be hot again
@@jimmyjay689 Detroit and flint is not all of Michigan. There are plenty of jobs. I’m trump 2024 and wish it was more conservative here but jobs aren’t a problem.
The problem with multi family units is the laws are being passed that go against the owners. Good luck getting someone out who decides not to pay rent.
Is that wind noise on the microphone, or THUNDER? I love the sound of thunder and the look and feel of approaching thunderstorms. That's one thing I miss about Florida.
You really have to pick your market. I just bought another rental property in Iowa and I actually paid $10k under asking and appraised for a lot more so actually walked through the door with instant equity and it’s already cash flow positive.
“Personal Interest Payments” JUST HIT A RECORD HIGH! ruclips.net/video/5FYGtgxPyt8/видео.html
Michael, I am a fan.
But when your content touches on politics it makes me uneasy. The American economy is deeper and bigger than politics. Corporations are a powerful lobby group for both parties. Money is the powerful party not politics.
Personally, I'm not ready to turn over the White House to a wanna be dictator who idolizes Viktor Orban and Putin.
I don't want to live under autocracy like China and Russia.
Soon, we could be arrested for posting opposing views against Trump and his "movement." smh 😟
Why the eletric cables are not in underground like other neighborhoods in US?
Biden is jailing journalists.
MSM is ignoring reality as the nation fails.
Presently, we are living with an uneasy environment of cancel culture, large government and division. Nothing is uniting us and I feel we can’t continue on this agenda, rather counterproductive for personal and economic growth.
We need new leadership.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Her name is Sonya lee Mitchell. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
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.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Very true, you can be passively involved in the markets and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Could you kindly elaborate on the advisor's background and qualifications?
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I've been in real estate and construction for 40 years in Ft Lauderdale, this is worse than 2008
I totally agree with you 100% !
Worse than 2008?? Already??
People keep buying here though so I don’t see it crashing
And the “pop” is gonna be so sooooo sweet. I’m just north of you.
I disagree I've been in construction 40 yeas also and 09,10,11 and 12 no houses being built so I went broke, now at least they are still building, but I do agree housing costs are ridiculous😮
We cook at home. We are tired of being disappointed with the quality and price of food, service etc and they are pushing the alcoholic beverages. Prices are starting to come down in Northern Virginia. The realities of these markets will come to fruition, just remember it will affect everyone differently.
What part of northern va ??? I used to live in Great Falls , Va , long time ago . I know the cost of living there , been expensive since the early 1970's.
I agree. Restaurant food and service has deteriorated badly.
You can get better food that you make yourself anyway, definitely on board with that notion.
Don't forget the forced tip that now is mandatory
@@hectorlopez1196 Some restaurants in NYC also add a surcharge to help cover health insurance for the "server." Crazy, eh!
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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.
Have you noticed that corporations' profits are growing x-times the inflation rate, which means their price increases are far more than their cost increases, and stock buybacks are at a record high.
I bought a house for $175k yesterday in a nice neighborhood in SC.❤
congrats!
Well done.
You just sent anopen invite to people from California
@@clintonnmalenky3078 Good! Come on down!!! 👍🏽
South Carolina…. 🤢
Planting a garden, getting to know your neighbors, and buying a set of quality hand tools and learning how to use them would be a good start.
Most of my neighbors I don't want to know, didn't even want them to move in. I have a surveillance system because of them.
Renaissance man.
Not happening to.many Democrats around ruining it all for everyone.
Don't know anything about gardening, but I do have some tools so I will be replacing the clock spring in my car steering wheel tomorrow - been putting them off👍.
I plant edible landscape on the side of my front yard, my garden is admired by my neighbors ;)
I don't see what you say as negativity. You speak as you see it and what you see stinks. So, there's no reason to sugar coat it. If anything, I'd say your videos are peptalks filled with great advice helping people prepare for the worst. You deserve way more subscribers.
I agree
Most fast food places serve CRRAP FOOD prices way to high !
My condolences hearing about your Grandma, she is definitely proud of you. Keep speading the truth.💯
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much
I have been a die hard prepper for 15 years,it gives me a little peace 🕊️🕊️
I wished to know more about prepping or I wished someone told me 20 years ago , at least it would given me a head start.
And a whole lot of inventory.
@wiser3754 the right pepper doesn't carry excess inventory, we're ready to produce and protect at our best ability, inventory would run out eventually and could be wasted as well , being production ready today is saving me a lot of money anyway
Dehydrate food, have water filters. Have cash on hand. Be safe.
@@dedriannehartgers629how much is a good amount? Also, many businesses are cashless, which is awful. I’m just wondering how having cash will be helpful.
I worked like a slave for over 20 years, always kept a roof over my head. Since 2010 I have been homeless several times and it is a incredible nightmare just to find unaffordable substandard housing.
@daviddestin1990= Where are you, as i think that is a major difference?
And what mistakes can you admit to that ended you up in this predicament?
Lots of suckered out there,it's not just you.
Why didn't you buy land or a home during those 20 years of working????
These sheeple are all holier than thought. 😅
The thing that gets me the worst is the companies raising prices not because they have to but just because they can. greedy a holes.
*That's called Price Gouging* !!!!!
I am shrinking my choices to what I normally buy, as far as food , clothing, etc.
Example if the clothing is THIN materials and looks horrible , I'm not buying .
Food, we only buy the foods , we eat and not a whole lot of foods either.
We are budgetting even more than we ever have in our Adult lives !!!
Example I don't buy a lot of Process foods , that will make anyone sick. because process foods has
to many Chemicals in it and The United States is the ONLY country , who gets away with Chemicals
in the food . I seen the list on youtube. *I Have Changed My ways and mind on everything*
Restaurants and fast foods , feel they can get away with RAISING THE PRICES AND PRICE GOUGE ,
on customers. *People better take a stand and say No , we aren't putting up with it* !!!!
You say that, and yet you incessantly bitch about getting a pay raise (for nothing in return) because YOU want more money
So really its the pot calling the kettle black, huh?
Mostly dollar devaluation. Price gouging is an effect of that
@@Dre2Dee2 classic boot licker tactic blame the poor not the billionaire trying get another billion or the corporations getting some government assistance.
@@Dre2Dee2If your raises don't match inflation, your boss is demanding you provide the same services for less buying power. You seem like an expert, does boot polish come in sriracha flavor yet?
I appreciate the level of engagement you have with your audience
I had my roof replaced a couple of years ago. All the workers were immigrants. None of them spoke English.
Had the same experience. It was funny because I named my dog Paco, I called for him and they all looked up.
Wow! I went out yesterday and spent $100 on next to nothing! Hoping to just get through the next year!
That’s the whole truth ! I’m a homeowner in California! Trust me, it’s hitting the fan !
So strange. We have 107 people working at our lil factory. And EVERYONE is doing pretty good! All got raises the last 3 years. People actually laugh, talk and are friendly. Seem to be pretty positive. I guess most of us that are smart with their money and work for a good company are actually doing really good.
I'm doing reasonably well. How? Being responsible.
Reasonably well ain't gonna cut it. They want you to "own nothing and be happy" too.
Nixon closed the gold window giving the Fed free rein to print unlimited fiat currency. Both parties have taken advantage of that ever since.
Also J.P. Morgan sets the prices on gold and silver
The IBA consists of multiple banks, an oversight committee, and a panel of internal and external chair members. The IBA sets gold spot prices and gold fixed prices based on supply and demand as well as the gold futures derivative markets.T@@--Morpheus--
No. JFK was going to mandate Silver backed currency, and he was killed partly for that reason. When he was assassinated, the Fed took over.
They don't print they borrow
They don’t even borrow…. It’s a creation, out of thin air.
Something's gotta give? That's when they said in Venezuela, right before they were using wheelbarrows to carry the money to buy 1 roll of toilet paper. It was cheaper to use the cash.
buy a bidet for the toilet, just in case the TP runs out again.
Not just a bidet, solar panels, gardening equipment, hunting tools like guns/bows etc, dig septic, dig a well, raise your middle finger to all these companies.
No former reserve currency was transported in wheelbarrows. Ever.
@@hvaball150 Yet.
Being raised by my grandparents, who went through the Great Depression", many of their frugal ways rubbed off on me. It is paying dividends for me today as I remove unnecessary expenses from my life. You look in my wallet George is wearing sunglasses because it's been so long since he's seen the light. If you want to survive in this economic climate you must insist on value for your money, have an emergency fund, invest carefully and do as much as possible for yourself (eat at home, grow a garden, learn to can and learn to do simple repairs yourself). One more thing. Don't loan money to anyone. If the bank is afraid of them you should be too.
As long as corporations and other nations are allowed to buy up property, it will continue to go up.
Chyna
Yep - home-purchases should be limited to private individuals, and, if there's a 'housing crisis', those should have to be citizens.
If corporations want to own residential property they should be invited to build apartment tower-blocks, for rentals.
Foreign investment in homes actually dropped by 9.3% or $53B in 2023
We paid off our home almost two years ago. Today we would rent. A home is becoming a dream...
No way would I want one in CO. right now. People are trying to sell left and right because of property taxes. I counted 13 homes for sale on the way to the store 3 miles from home yesterday. Things cost too much anymore, something goes wrong ...if it's too much, yikes.
I agree about trying to get rid of excess debt. I just paid off 2 auto loans and zeroed out all credit card debt. Now I'm prepared for WHATEVER the economy is about to throw at us.
Good on you! I did the same.
@@josephjames259 Yesssiiirrr, good stuff! 👍
How about a job loss and $50 burgers?
@@hvaball150cut out the fast food.
@hvaball150 Good thing I don't have to worry about job loss since I'm Retired Military with a pretty nice military pension. I prefer to make my own burgers at home.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
This is huge! Think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Natalie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Agree with what our host says. Government needs to work smarter instead of increasing borrowing. No need for 87,000 new Jack-booted, gun-toting IRS agents. Jobs need to be created in the private sector
The last thing people should be doing is work for the government.
but if more tax money is taken in, there will be less money in the economy causing inflation. That is why the tax increases when Bill Clinton was President worked, the wealthy paid higher taxes and the dollar was weaker and manufacturing could compete better on world markets. Bill Clinton had the most jobs created during his Presidency.
They do need those 87k people because the internal REVENUE service wants to increase REVENUE
Hope your taxes are done right
😴
The amount of businesses started has decline (except during covid( because people don’t have money.
Keeping people broke is your companies way to keep you an employee, and stats say it’s working.
No competition? Prices can go up.
Saw this coming 3 years ago. Sold my Florida home awa my Canadian condo. Did 2 smart things afterwards. Invested heavily in BTC proxies (MSTR) and moved to Thailand. Standard of living is similar however cost of living is 1/4. Glad to hear you finally mentioning BTC…the best performing asset the last 12 years. I stay in touch with family/friends in both countries…they all say “things are getting worse”. Glad i found the “Land of Smiles”.
I'm in Canada and it is basically impossible for me to rent a room and own a car at the same time working a factory job being single i never even think of home ownership at this point :(.
I am no expert , but I say , pay your debt off and continue paying your rent . If you can , can you get a second job? or is it not possible? I keep telling people to start their parttime job on RUclips . Just make sure to have a good content . It starts out slow , but at least you are trying.
That is unreal. Prayers❤
OMG
Keep voting for Trudeau and Biden and things will suck forever
@@debbiec6216always the answer, get a 2nd job.
Lol.
Go try that at the age of 54 .
Debbie has no clue.
Burnout factor is a thing hon
You're right about not going anywhere. Just the turnpike costs from Tulsa to OKC and back is $50! Ridiculous.
They are using your Toll money to pay the state retired workers a lifetime pension. That's what they are not telling you
Thank God i bought a house just after the 08 bubble burst..
Got a fixed intereste rate 4.75
Mortgage is $1,080 mo. 3 bed room house on 1/4 acre
One trillion dollars every 100 days. That can only go on for so long. Then what happens?
Then you get a lot of inflation as the deficit and treasury debt roll overs are monitized. That's how the govt will get out of its debt trap - inflation. Anyone holding value that isn't an inflation hedge will suffer the impairment.
Boom
It goes to 1 T every 80 days...then 60. Then it absolutely stops at 58 days. Absolutely.
Only kidding. It goes on forever.
I'm curious what you think stops it? Are we going to run out of money? Is the dollar going to lose it's reserve status? Are we all switching to Bitcoin?
Only a civil war. That's all I can think of. And they are trying.
What will happen is we’ll all have no SS with bankruptcy but there will be trillions for wars and other corrupt countries to siphon our hard earned tax dollars.
Nothing happens, been screaming about the debt for 40 yrs. At $60 trillion we will still read the collapse comments. Everything is fake and fine
I can't take it anymore I am moving to Cambodia
Incredible country!
I've been a sahm for 11 years. My husband's single income has been able to support our family of five & he's never broken $100k annually. I have never felt poor - quite the contrary. Especially currently. Redefining wealth classes is about to make many heads spin.
Stacking cash and hoping this bubble bust that's all I got and I'm sticking with it. Don't care if it takes another 5-10 years I'm not paying these prices.
Same. I am the person who hates to overpay for anything.
Boy do you tell it like it is ? You are the man! Plus a stand- up guy. Keep up the good work ❤
As the person said, "The powers that shouldn't be.." They haven't created enough misery. There are still a few left in the middle class
We are not going anywhere...
kulaks
Ppk hv allowed and installed them..lol tough luck
Yep, that's the plan, destroy the middle class.
@@hoppeanofasgard1365 Who's plan ? Not them again ? The Klingons are innocent ! lol Conspiracy theorists never stop
Speaking of layoffs, my employer fired 1 person and has been cutting hours by 50% for 2 other employees and then hiring less experienced part timers.
I'm so happy that a lot of people didn't like your comments about Poopy-pant's SOTU. It just means, you're doing your job, Michael.
Southern California prices just went up and so did the competition, inventory is still scarce.
Doom sells, but it gets old fast. The only valuable thing is actual strategies for personal success.
"Grabbing a bite to eat" still can cost about $20. I simply don't eat at expensive restaurants. And my monthly food expenses don't go above $200. (I eat mainly meat, eggs, and vegetables.)
I am paying off my credit card debt fast, working loads of overtime. I'm starting to see Rome Crack again, we are the new Roman Empire set to fail
As a handy/maintenance man in upstate ny I've seen a significant rise in calls for service. Without fail every customer is surprised I show up. There seems to fewer and fewer folks out there that want to do this kind of work.
A few years ago we nearly zeroed out. Once stabilized, we put $500/month into a 1 year CD, no rollover. Each year after, when the CD matured, we took that initial amount, added another $500 and opened another 1 year. Did this for 4 years.
When my wife was suddenly transferred on 3 weeks notice, we let those CD's lapse for a few months until we were situated - and it absolutely saved our butts. Not only did we still have her regular income, but the maturing CDs helped cover moving, suddenly needing a second car, setting up the new place, etc. We've since rebuilt those lapsed CDs, have a separate savings account just for moving, paid off the second car. But having the liquidity of a few grand a month saved our bacon - even if the rates were crap when we started.
How much did you start with?
How does CD roll over work? (I have a CD maturing at the end of the month)
Buying treasury bills is better. You’ll have at least 5% yield and some tax advantage over a CD.
@@mowtivatedmechanic1172 Sorry for the delay, life with kids...
Before maturity, you have to tell the bank that holds it what to do at maturity. Typically there are three options: cash out the entire balance to a regular checking or savings account you hold; have the interest accrued paid out to one of you accounts while the principal rolls over to a new term; or have the principal and accrued interest roll over.
@@Pencil-o1p The amounts aren't enough to really worry about taxes. With Capital One not having minimums, I've been able to build over time at a pace we can afford. Because we can access the maturity settings at any time, if we suddenly get transferred again, I can just change the ones coming up, and be assured we'll have X amount coming in monthly no matter what situation we wind up in.
Great advise Michael. I’ve “wanted” a new car over the past two years and have held off on buying one until it was wrecked, I now “needed” one and was forced to buy one. It’s not about “wants” it’s about “needs”.
Look at houses in Florida. So many houses were sold in 2017 and then in 2023 those buyers doubled the price they paid in 2017. That's insanity. 💯
I see major forclosures coming in the state of Florida this year. Insurance and taxes are killing them
That’s how it is most places. Housing prices have easily doubled.
I know people who plant good gardens, work hard, and can a lot of food. Those are the smart ones. They have food in a crisis if it hits. They also know what went into growing their food.
The listing homes are crawling up. However, the prices are still 30% over valued. Home owners list their prices 30% higher and then reduce 5%. The unemployment is the only catalyst to pop the bubble. The government keeps showing employment is strong and healthy with inflation “is still ~3%”.
I can't help but think it's due to the M2 money supply which has also increased by close to 30% since COVID. Perhaps the market does make sense.
So u want cheap houses no one will be able to buy?
Governments always fiddle the figures
They'll just play with the CPI numbers. Maybe include gig workers to the employment calculation. Work 4 jobs, bam! That's 4 people employed. Total 🤡🤡
@@jimmyjay689 price doesn’t matter, when the “money printers” are at work.
There were sections on that street that was very photo optic. The greenery was absolutely lushes and delightful.
Housing Goes in cycles and we are reaching the top of that cycle
Yes, all markets are cyclical, which is why the crash bros keep harping about the coming crash. Of course the market will go down at some point, but sitting on the sidelines and missing one of the biggest price runs in history only works out if it falls below that previous starting point.
I work in retail and they post the numbers on the billboard in the break room. Youre not kidding when you say sales are down. Theyre about 85% of what they were last year (i keep track of it because our bonus' are tied to sales, shrink, and customer service satisfaction)
Your content and the regularity of posting A++++
Omg! You read my comment. So cool!! Debt free and happy!
Good stuff . I appreciate your time making this content
Awesome job, Michael. Love your channel. Keep up the great work!
They’re trapped by the price, not the interest rate. Because if those people sell right now make a profit. Rent for awhile wait for the price to come down and then take that 200,000 or $300,000 cash that you got from the sell your house and be able to buy one cash. It wouldn’t be an issue. Doesn’t matter what the interest rate is. The prices are too high, it’s never gonna work
Come to Canada $200,000 - $300,000 is your down payment, not the mortgage, at least traditional mortgages are. The boon dock homes are California money up here. Its nuts and I don't know how sh** can go any higher. Its like 15-25 years average wages here to pay the principal, let alone the interest.
I’m doing that now. It’s a PITA though.
Current interest rates arent obscene, weve just been spoiled. They are where they should be. It just hurts because of the prices of everything.
"This is the way the world ends
Not with a bang but a whimper." T.S. Eliiot, "The Hollow Men", 1925.
Keep your eyes open… Your channel rocks!
I’m 53 and in debt and broke as hell. All they do is work. I’ve defaulted on credit cards and business is starting to pick up again, but it’s too damn late. All I can do is just keep working.
You can buy cash flowing rentals in the Midwest. The problem with that is... it's in the Midwest. Florida will always be desirable and the deals are coming!
In Canada 🇨🇦 it’s really bad carbon taxes is going higher
Trudeau is a dictator
vote your politicians out. get new ones who are against carbon taxes. canada never met a tax they didn't like.
We have many Canadians down here in beach SE Florida. They say the Canadian dollar exchange rate is $1.37 per one U$D
"Let the Planet Burn 🔥 I won't be here when it does"
There are these things that scrub the carbon dioxide from the atmosphere. They require no maintenance and last between 5 to 10 decades. Oh yeah, they are called trees. A carbon tax is just away for your socialist leaders to take your money.
Just tried to have 2 toilets replaced in my NJ home. I already purchased the toilets. The company wanted almost $4,000
This is a selection year, so I’d be surprised if anything terrible happens…I now believe 2025 is the year for a “black swan “ financial event.
And whoever is in office will be blamed for it.
Now you're talking. The spending has to stop. I'm 68, still working but very very worried about my children and grandchildren. If we don't get the national debt under control, we are sacrificing the future of the oncoming generations. People my age and older in power are making horrible decisions selfishly to make young people pay for the debt. Can you all imagine 90% of our GNP going just to pay the interest on 40 trillion. Vote for politicians hopefully younger who will not give out free money. Michael's advice is positive not negative because his plan will make your life better. I followed it for the last 40 years and am better off.
My guess: The average person that watches Michael's RUclips broadcasts is significantly smarter than the average American. Please continue mentioning to young people that Congress is the primary reason asset prices (stocks and real estate) have increased so much over the last few decades. So few Americans have taken Economics 101 and 102 courses. The extra money (US Govt. debt) in the economy eventually ends up in the hands of savers, homeowners, and business owners/stockholders. There is no easy way out of this terrible financial situation: US Government debt default, inflation, or austerity. The Social Security "Trust Fund" goes negative in 2035. The other US Government unfunded liabilities are over $120 trillion. US Government tax receipts in 2023 were about $6 trillion. The 2030s and 2040s decades is going to be financially difficult. Expect more social unrest too.
Good Evening Michael, I agree with your data, it does represent the 80/20 rule.
I'm making my own bacon as Michael speaks. I make 10lbs for $30. Costco. I cook everything my family consumes. I hate going out to eat. The food sucks, service sucks, overpriced food and service. I take immense pride in the food I serve my family. Not only for the cost per meal, but I get to control the ingredients. Food is a major cost of living and if more people can learn how to prepare healthy foods for themselves and the family it gets cheaper and the quality goes way up. I buy beef off the hoof, that alone saves me a considerable amount of money and it last about a year or so. Just a bit of information for those that read this. Be safe out there and love each other.
I thoroughly enjoy your videos I think they're extremely informative and very helpful I have learned a lot I want to thank you very much please keep it up,.... I think that 99% of us thoroughly enjoy you
On the point of government printing their way to prosperity, devaluing the dollar through high inflation is about the only way to cope with the level of national debt in the USA.
Great stuff Mike, you nailed it! I've been feeling the same. The economy is in a slow crash from what I've been seeing.
The question on how people with kids do it is exactly what I've wondered alot, your answer was on point, they keep borrowing or get money from their parents.
A lot of people live on edge trying to live beyond their means then they go after relatives for help, then just keep trying to live beyond their means, they never learn.
It really is very bad. I need to replace my 23 year old car and cannot get a loan I can afford anywhere.
save your money and you won't need a loan. don't borrow money for anything. if you don't have the cash don't buy it.
That’s a good example. Car repairs and new tires or car payments.
You're not alone I've got a 2015 Altima it's freaking needs a new engine 106,000 MI I'm retired and my income is not enough to get me into a car loan now
a good sign you dont need a new car
What kind of car do you have and why do you need to replace it?
Around 2006-2007 is when cars were no longer built to last.
And yes, my condolences to you on the loss of your grandmother, may she rest in peace. Prayers to you and your family
20yrs should be thankful for your insight and viewers experience & comments. Learn from it. We didn't have computer's in our 20's.
So true. I went to Petco and spent more than $100!!
It is no joke. I'm blessed to have an okay job and work remote. I'm paying off all credit card debts by this summer while still being able to put 10% of my pay in a HYSA while investing in stocks and REITs. I have cutback on going out and spending on non-essential things. Definitely no brand new phones or Teslas over here. Lol!
We are finally giving up on renting. It is always uncertain from year to year. The rent keeps going up and the landlords seldom fix things well due to not wanting to spend money. We are having a home built. Yes, it is expensive, but at least then we will have more certainty. Job one all the time will be to make that payment on time and every quarter or so, pay a little extra. Not everyone's situation is the same. Rentals here are nearly what it costs to own a new home. I say buy a new home and work hard to keep it.
Renting is a lost cause.
Could you do some walks around nature reserves or hiking trails? Some of those trees just in normal neighborhoods are incredible!
I've had discussions with a number of people regarding financial, precious metals, real estate, and other markets. By all historical indicators/charts/analysis, this economy and all of these markets should have sunk a long time ago. I keep saying, you can't predict a rigged market. It will collapse when they are ready for it to collapse, and have sucked every one of us dry. Put yourself in the best position possible, don't worry about the world ending tomorrow, live your life within your financial boundaries, and be ready to deal with whatever comes, whenever it comes.....
One of the best content videos made, use the same concept please.
Thanks
Your friend is so right. I am grateful.
As a small business owner, i always tell people that it costs me $300 to wake up every day
I am new to your channel, and I absolutely love it! I am a person who likes the "RAW TRUTH" in any and everything and that is the spirit of this channel that I feel. This weekend I have been binging on your videos. Keep being GREAT!
Happy Birthday to your wife! 🎂🎉
Looking for houses last weekend in middle Georgia 2 house bought in 2022 are now discounted to lower than purchased in 2022 and both were on the market for more than 100 days.
This has happened and is happening in my area too. Suburb of Columbus Ohio. Millenials went nuts and paid too much for houses. Then property tax went sky high b/c they paid too much, and the county used their high priced houses for comparables in the state reappraisal. Now the millenials don't have the money to pay for what they bought and are dumping their houses. They made property tax high for everyone.
I can't move either . Where do I go ? .. to pay more taxes, I think not .
Taking a year and a half to do a roof seems crazy. I had mine replaced late last year and I think it was less than two weeks between getting the estimate, signing the papers, and having the roof and gutters sorted out (different teams on different days).
It seems like that contractor just really didn't want to do that job or something.
Houses appropriately priced here in central Mn are still selling well. Higher priced houses 500,000 or more are taking longer but selling. Seeing some reductions but only about 10%. Homes in the country, close to a larger town or on a lake, selling well.
Michigan has cheap cost of living and there are many beaches and the Great Lakes are like mini oceans
@@rynolonewolf I know I live here. Even with that it’s still way cheaper to live here than many places. I’m actually moving to Florida from Michigan but my family will stay here
I live in Ohio and life is still cheap but just remember one thing, when the West Coast runs out of fresh water the Great Lakes the region will be hot again
Zero Jobs
@@jimmyjay689 Detroit and flint is not all of Michigan. There are plenty of jobs. I’m trump 2024 and wish it was more conservative here but jobs aren’t a problem.
@@suntzu94 well my family is staying here. I’m 26 and want to go live in Florida for a few years but I can always come back
Let it be, let it be, until prices plummet to the bottom. When people stop buying.
Thanks man ❤
The problem with multi family units is the laws are being passed that go against the owners. Good luck getting someone out who decides not to pay rent.
Is that wind noise on the microphone, or THUNDER? I love the sound of thunder and the look and feel of approaching thunderstorms. That's one thing I miss about Florida.
You really have to pick your market. I just bought another rental property in Iowa and I actually paid $10k under asking and appraised for a lot more so actually walked through the door with instant equity and it’s already cash flow positive.