15 Things to do if you get rich all of a sudden (mentioned in the above video) 1. Don’t let anyone know. 2. Pay all of your debts (don’t create any new debt) 3. Don’t quit your job yet. 4. Secure the money and let it sit fora little a while (process it fully) 5. Make investment in yourself a priority 6. Do not hire any new financial advisor (if you or your relatives already have one). 7. Get comfortable but not rich -comfortable (pay off house but don’t move to rich people neighbourhood and don’t buy too many cars etc) 8. Don’t invest on your friend’s business or lend them money. 9. Do not start a business immediately (start small) 10. Prepare for change 11. Focus on getting healthier 12. The 5 % rule (means you should only spend 5% of the money you receive on things you want right now, like fun or treats or anything else. The rest should be saved and invested for important things in the future) 13. Protect your kids from this money 14. Do not cheat on your partner 15. Play it safe (don’t put your money in shady businesses 16. The law of averages at play [BALANCE]
@@NeuKrofta The 5% rule means you should only spend 5% of the money you receive on things you want right now, like fun or treats or anything else. The rest should be saved and invested for important things in the future!
My sister in law inherited two large homes in NM, a dozen plots of land, 2 cars and a truck and a few thousand ounces of silver and some of gold. In total it was more than half a mill. The gentleman who passed wasn't exactly rich, but he did have nice things, the result of a lifetime of saving and working. He lived alone, no family. My in law got enough to where she could slip into a very comfortable middle class life. But she decided to sell everything. Needless to say, she sold at a bargain and got a little over 250k, which she and her husband used to live without working for about 18 months. Then she want back to work and live paycheck to paycheck again, but now with many problems in her marriage, and since they both had been out of the workforce for a while they landed jobs that paid even less than before. All in all, she ended up a little worse off than before
@@dibari22Just don't be too attached to those finances either because bad things can and do happen. Medical and property damages are common problems that come to mind. Just remember that, while still possible, wealth isn't all that matters.
Sadly, it seems your sister in law was already financially illiterate before the money. Her first mistake was not holding down a stable job at all times. You shouldn’t need to use the new money. Her second mistake was under selling by 60% out of desperation to liquidate or not knowing the true value of the assets. Her last mistake was living way over her means and blew the money. For $250k to last only 18 months means she spent closes to $200k the first year before she knew she was bleeding money! $200k is double most high cost of living area middle class salary! It all circles back to her core issue of being financially illiterate.
Wrong! The very first thing to do is to consult a tax attorney (before even telling your spouse or family members). Discuss with your attorney whether or not to create a revocable trust BEFORE you cash the lottery check. A trust can save millions in taxes and provide a healthy layer of privacy (i.e., if the name of your trust does not include your last name). Also remember that MONEY IS NOT THERE TO SPEND. IT'S THERE TO CAREFULLY PROTECT AND INVEST. Spend only the proceeds from your investments, never the principal!
Remember inflation. Don't live on all the interest. If inflation is 5% and your fund yields 6% the absolute maximum you can live on is 1%, otherwise you're getting poorer.
If you're debt free, you're richer than most people..... if you know the difference between 'want' and 'need', you're up another rung on the ladder. .....if you aren't a slave to 'convenience', keep on climbing! Your hands and willingness to learn practical skills are worth more than being hellbent on impressing the neighbours, you don't like, with the latest useless material sh/t. If you love and crave money, you're never going to be happy with what you've got. Learn new practical stuff everyday. It's took just 2 generations to turn society into being dependant on big corps for practically all our basic needs.....that should be a big red flag! Don't be bedazzled by shiny things...... you can't eat them when the shtf. Any degree of self sufficiency skills are worth more than a designer label.
Not quitting your job is the wrong advice I wish people would phrase this better. If your job is not bringing you satisfaction, then quit the job. Don’t quit working, but quit that job. Go find another job. The issue is not whether you keep your current job, it is whether or not you continue to work after you come into a large sum of money. The answer is yes continue to work, but find something that brings satisfaction.
You all just simply missed the point 😂😂 the point is to avoid any dramatic change you would not have made before. Wait like two months or however long you feel is necessary then change to a better job if you feel that is still necessary at that point
My father worked with a guy who won a minor lottery -- a few million. He quit his job and bought a new outboard for his fishing boat. His wife divorced him and took half the money. She was back two years later, having spent all her money, gone into debt, and was suing him for more. Since this was 1990 and the judge was an old country boy, he told her to get bent. The lottery winner was still fishing last time Dad heard from him.
Good for him. She was only there for his money in the first place and she thought she was better off without him. Kick rocks, brokie! 😂 I will say he's lucky she didn't try to kill him to get all the money.
Actually, I did get an unexpected inheritance and I did lose it . Huge hospital bill, plus a bad investment into farming, and then a pandemic that lost me my business. That money kept me alive actually so it was a blessing. I am sad I didn't have it in a way to keep it for aging though. I did lend a friend money and he paid back every single cent. I did invest in myself , completing two diplomas. I also spent some of it on some things I needed, like a giant washing machine for my dog blankets. I should have invested it but I only put away a teeny bit. I also am back in cc debt due to a sudden loss of my partners business and a huge utility bill that was totally insane. I also did have some fun that I do not regret one bit. I went camping ! It was great . I'm pretty sure I'll get lucky again one day . I sure hope so. Thing is that retirement is out of my class hahaha
@@therhythmatic hmmmmm Me ….Big House …Dodge Demon ( pink slip) Girls ….Cocktail Parties ends at 9:30 pm. I actually an introvert so there is that 🤔😉…. Mutual Fund….Triple AAA Stock ..My Own Library Filled To the Brim with Books I Love . Thank You Universe
Definitely. Especially where you live. Don't be the person with the best house and the best car and the best everything. It's much better to blend it and be anonymous. Most billionaires nobody knows who they are, and that is on purpose. Let other people show off and make themselves targets. It's better to live quietly in peace.
The first piece of advice is essential. You have to be wise with your money, yes, but also socially wise. DO NOT LET ANYONE TAKE ADVANTAGE OF YOU. SILENCE IS POWER. You don't know people's intentions until it is too late. Just because you think people are genuine or good-intentioned doesn't mean they truly are. Once someone sees you have success, they want to be a part of it too. Humans are naturally selfish and you should be too. HAVE BOUNDARIES. Money is not the root of all evil, WE ARE. If a family or friend tries to guilt trip you in any form, that should be your first sign to distance yourself. Invest in the money before you spend it. Manipulation is not 1 dimensional so use discerment. Reflect on the people who were there for you. BE KIND NOT NICE. Because you will be taken advantage of. Invest first then see who you can help but first rule, is if no one knows it, no one can interfere
My uncle always told me, for every $5 you give, make sure there is $6000 behind it, this is the only measurement you should use when deciding on giving or lending, along with never letting anyone even your own children know how much or when you receive cash. He’s the only millionaire in my current bloodline and I’ve been under his wing since a young girl, following his advice, I am next.
I get the sentiment, but your security shouldn't be dependent on secrecy. Like Kirchoff's principle in cryptography, It's best to start with the assumption that everyone will know you have money, and still be secure. If your entire security model is dependent on the cat never getting out of the bag, that is extremely fickle and weak.
@@ericv4189 Well it depends on if you can trust your loved ones. I already explained why I said that. It's not about paranoia. It's about not being taken advantage of and using discernment. If you don't get it, you need more life experiences, or you are privileged enough to have a good support system OR you are that person doing the manipulation to others. It is not weak at all. It is called being smart and not easy for others. Some people are easily taken advantage of, so that's why it's just better to move in silence. OR people can get harassed once others or specific person knows they have something better. If you keep your mouth shut and your money moving, who's going to keep in you in a cage?
My father died when I was 13. He was fairly well off but also only 37. Although he knew he was dying for at least 2 years, he didn't have enough time to get wealthy. But he did put a good amount of money into a trust for me. His mother, my grandmother, died the next day after him. I also inherited his portion of her house when it was sold. I had a good amount money. I was supposed to use it for college and if I didn't go I couldn't touch it until I was 27. We'll, the trusty, my uncle, failed to keep it out of my hands. I fell into drug and alcohol addiction and manulipated it from him, and it was all gone by the time I was 20. Ironically, I got sober at 27. I learned a lot about what not to do with money. I have educated myself about how it works and am trying very hard to make enough to invest. At 45, I am still struggling with that quest.
I agree with not quitting your job right away… wait for the right moment when your boss is pulling a power trip like “you need to step up your game if you want to continue working here..” and then quit gloriously 😂
BALANCE. Absolutely keep your mouth shut. You don't want to open the door one day and find Aunt Gertrude's fourth cousin five times removed whom you've never heard of standing there with a sob story and his hand out.
@@alanaldpal950 YOU CAN DO THAT TOO! BUT I HAVE LEARNED THAT SAYING "NO!" TO EVERYONE AND ANYONE IS BEST. IT SHOWS YOUR INNER STRENGTH AND NOT ALLOWING OTHERS TO BULLY YOU OR MANIPULATE YOU INTO "HELPING" THEM. WHEN YOU GROW SOME COURAGE SAYING NO STARTS TO MAKE LIFE REAL EASY! ESPECIALLY WHEN THEY CAN NO LONGER TRY TO MAKE YOU FEEL GUILTY ABOUT IT AINCE THEY ARE ONLY AFTER THE MONEY AND DON'T GIVE A FLYING F*CK ABOUT YOU TO BEGIN WITH.
Pay off debts, purchase house/home. Invest in real estate - keep houses in the family for generations. Invest in yourself - health, knowledge and travel. Get a financial advisor. Put it all in a trust. Live off the interest/return.
Getting a financial advisor is the number two reason why lottery winners go broke. According to Marc Cubin, DO NOT invest your money at first. Put it into something like a CDAR account (extremely safe). then start invest small amounts and go from there. He goes on to say, if you have never invested large sums of money, you don't know how to do it. And trusting someone else ..... even more stupid.
@@almoemasonInvesting is simple. Just put everything into a bank account or S&P. Government bonds are amazing as well for hedging against inflation. No need to create a sophisticated portfolio with all that money, no need for a financial advisor. Even 1-2% a year over inflation will make you enough money to be in the #10%. If you have enough cash, purchase some nice property for renting and you are set for life.
Conflicted, want to thumbs up and down.....thumbs up for this idea that lottery winners go broke because....(insert failure). Next thumbs down for seeing that people have no will power or better yet the money made the person to spend the money. Lol take care people peace love and the pursuit of happiness
For me: 1: Pay off my debt. 2: Put the rest in in a high interest savings account. 2. If it's between 1 million and 2 million I'm still working. 3. If it's over 2 million I'm quitting my job as soon as I get my first interest payment. 4. Any amount over 8 million goes to secretly paying off my families mortgages/debts through a third party so they don't know who did it. Any remaining amount above 8 million to helping the local community. 4. Any amount I make on interest over $365k a year goes straight to helping people. Any amount of that $365k each year left over that I don't spend also goes to charity. I'm not going to change much about my life except buying a condo in the middle of the city and decent sized shop I can play around in. If I can't make it off $1000 a day then I don't deserve to make it.
That's a great plan until there's some economic crisis and the central bankers put interest rates back down to 0.25... I'd keep the job for a few years to build up the wealth and security further.
Before I watched the video my plan if i was to win anything more than $100k would be the following 1 - Pay all non-school debts (Roughly 20k) 2 - If i have enough, pay for Flight School (100k) 3 - If not enough for number 2, pay for Private Pilot's License (Roughly 25k) Continue School 4 - If enough, buy a new car, no not some super car or super flashy thing, just get rid of the 2018 Nissan i have and get something like a Totoya Hybrid, something fuel efficient and comfortable, shouldn't be higher than 50k, right? And paid in full. Skip this if I only got 100k, instead, new tires and big repairs done on my current car 5 - Dont move out, stay renting, maybe pay the year in rent? ($900xmonths left of the year) 6 - Send 10-25k to my brother depending how much I have (He's across the country working 2 full time jobs, hope it'll help get somewhere better) 7 - Invest 50%-75% and save the rest Now onto the video
My brother was parted with everything he owned at the age of 52. He died of cancer. The invest in you needs broadening. You can change your house, car, friends, spouse, but ultimately you only get one body to travel in. So look after it, else wealth will mean nothing. So MOT your body. Pay for a full health check, every year. You catch something like cancer early, longevity or full recovery is possible. You ignore warning signs, by the time you act it could be too late. So invest in yourself. Eat better. Get the gym membership you promised yourself. You have the wealth, so start on health.
I have my rich person health plan all laid out. Weekly couples counselling, weekly individual counselling, healthy meals delivered to my door, full MRI, full gene sequencing, get that referral to find out which connective tissue disorder I have, get screened for every learning difficulty, sign up to my friend's yoga classes for people with connective tissue disorders, get physiotherapy for my dodgy shoulder I've had for over a decade. I'd love a blank cheque to become the healthiest me I can be. Even if I'd then spent it all and had to go back to my day job it'd be worth it to actually be healthy.
#1 thing you do is talk to a financial advisor. If you bank at a big bank, they will have financial advisors on hand- free of charge. #2 Pay off all your debt. #3 Get the the things you need!- a) fix your teeth, b) new car or fix your old one c) new house or fix your old one. Be humble and not brag too much about your money. It is nice always have a steady income coming in- whether job or retirement. My uncle won money in the 70s after a surgery went wrong. He lived a great life, went to Heavy Weight fights in Vegas, learned how to fly and owned a plane. Had three wives and even brought home a Vegas cocktail waitress. He ended up penniless. Be smart with your money.
Thanks for the fin advisor tips tho bcuz I was curious where I’d get one. & yes TEETH! Everyone always skips teeth ! That’s a huge part of health management 💯
@@kgalifenty4460 Sounds silly, but it's not. If we make huge mistakes being poor by having low self-esteem/not confident enough. Imagine the horrible tragedies you will be able to do once you're a millionaire.
@@love_reka_8877 truth, crooked teeth means inefficient nutrition absorption bc you can't chew thoroughly, and even slight imperfect bite creates unnecessary tensions in your face that will hold you back from looking your best
I love when two or three people who are working together, come to the comment sections acting like they strangers who are engaging in conversation, in order to promote some one who helped them financially. But are really scammers….So obvious
When i got leukemia, i got about 40 000$ from my insurances. I enjoyed seeing the money in the bank account for an hour, then i called the bank and paid off my mortgage, one of best decision I've made.
I assume you are US-American, aren't you? Can you explain to us Europeans why your health insurance paid you such an amount? In Europe, the insurance would pay the hospital etc for your treatment and not you directly. How does it work on your side of the Atlantic? Oh, and I hope you recovered from the desease. 🙏
I really appreciate the dedication in each video you post. To be successful one has to have multiple income streams and so on, also investors should understand the crossover between asset classes & liquidity flow, Angie Chen Owens focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch
@@Patttiat Some are just born into poor family but actually become very financially successful, others gain money through relatives, winnings, or random chance. The best way to get it is having stock options you are introduced to by a relative and learning how to invest smart, getting long term riches is a long game.
Absolutely shut up when you accumulate wealth!!! I don't have much but a year ago i let it slip to a family member i had over 50k not alot of money 💵 but they didn't even have 1k in the bank and they resented me because i had self discipline to save money,
It's ironic that people resent the ones who sacrifice and are patient enough to achieve an end goal. One would think that you'd be an example of what could be accomplished using such a strategy but instead you get attitude. I had a roommate like this. Would spend everything he made on treats, brag about the bargains he'd scoop up but never paid down debt. Leaving him perpetually stressed about his finances, which was his justification for needing "treats."
That’s only relevant if people are earning enough money in the first place to save. Currently, the cost of living is enormously high compared to wages.
"Ever since I started following Anne winfield's advice on solar energy investments, my life has completely changed. I was skeptical at first, but the returns have been phenomenal. Now, I don't worry about my financial future; I'm actually planning a retirement abroad!"
Anne's insights into the market have been spot-on. She guided me to invest in some of the best solar stocks like First Solar, and the dividends have been more than enough for my family's needs. We've paid off our house and are now debt-free!
I was one of those who barely understood solar energy. But Anne made it so clear and accessible. I invested in a community solar project she recommended through RXCEnergy, and the returns have been life-changing. We've moved to a bigger home now!
Anne winfield introduced me to the idea of investing directly in solar projects. It's not just about the money; it's the peace of mind knowing I'm part of a sustainable future. But yes, the financial freedom it's given me is indescribable
I was in a financial bind when I came across Anne's talk on RXCEnergy investments. She showed me how to invest in the right ETFs that focus on renewables. It's amazing; I've seen my savings grow exponentially.
#4 secure the money and dont spend any of it for 6 months. ha, what a joke. Nobody does that. For me, I'd buy a few items I wanted/needed or go on a decent vacation trip. The amounts of which would depend on how much of a windfall I had received.
The late spouse and I had a plan: Pay the taxes, pay off all the debts, purchase the land the trailer sat on, build a barn, maybe get a new trailer, trust funds for the kids/grandkids so if they want to go to college they can, endow a scholarship at the alma mater, oh, and a couple of "new" old cars, preferably 1960s because he could work on them. Oh, and Apple computers all around so I don't have to share. That was pretty much it. And the likelihood of it ever happening is pretty slim since there are no inheritances in the offing, and it's hard to win the lottery if you don't purchase a ticket. Balance.
I feel sad because you're honestly not asking for much and you deserve to have that. I have similar goals too. Just want to be comfortable and have some small "luxuries".
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% Mutual funds , 25% Index funds, 15% STP and over 30% in digital assets, thanks to my CFA. This strategy has helped me earn $49,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
This happened to me. I won’t lie whatsoever. I inherited 500k when I was 27. Changed the course of my life. No debts. Paid for my law degree got the check and dropped out of the bar exam. Basically said screw this I’m leaving corporate America behind.
@@PrincessofGod-pogBut he’s right though, 500k is not a life changing amount, wouldn’t be giving up my job or anything, it’ll allow you to pay off debts but you’ll still need to work
@@okee9 he's not right. That's a large amount of money.. ofc not to retire on but to get a lot started or fixed? it's a large amount compared to $0, $20k and $60k.. 500k is a large sum of money. You are trolling playing devil's advocate as well bc there's no way you believe 500k is not a large amount of money to receive
2024 has truly been a transformative year for me. At 29 years old, I've spent the past six years as a truck driver, but deep down, I always longed for the freedom to call my own shots and take control of my destiny. Working as a company driver made it tough to see real financial rewards in this industry. In March, I achieved a significant milestone by winning my first grant of $600,000, which has allowed me to launch my own owner-operator (0/0) business. This has been a monumental step forward in my life. Remember, whatever the human mind can believe and conceive, it can achieve. So, believe in yourself-believe, believe, believe! Set clear goals and start working towards them. You can do it!
The CONSUMER MINDSET is what keeps people broke! Even if they become rich overnight, it's almost guaranteed they will be right back where they started. Your mindset needs to change first.
@@mjl6425Investing into your business is foolish in these conditions. If you get rich, 90% of your money should always be in some secure assets like good property, ETFs, bank account or bonds. Then you can think about giving your business 5% of that.
@@mjl6425 Exactly. When people get money, they think about what they can buy. Instead, they should be thinking about how much they can save. You don't need a $10K watch to tell time when a $100 watch will do the same thing. You don't need a $200K car to drive to the grocery store. You don't need a $5K suit when a $500 one will do.
“Alright, so this video hit my broke-but-saved-a-little nerve. I’ve got $158k parked in an emergency fund (yay me), but now what? Stocks? Real estate? Buy a yacht and call it passive income? Someone hand me the first chapter of ‘Rich People Moves for Dummies.’ I’m ready to stop watching and start doing-but I need a head start, fast. Let’s go!”
$158k emergency fund? That’s a flex, not a dilemma! But before you throw it at meme stocks or yachts, have you thought about getting a financial advisor? Mine saved me from some spectacularly dumb ideas. Let them figure out the smart moves for you
You both make good points-I've got some cash, too, and I’m ready to invest but I don’t even know where to find a solid advisor. Google feels like throwing darts in the dark, and I need someone legit to steer this ship.”
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with ‘' Linda Aretha Reeves” for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
The universe is maybe up to something really good for me, this video suddenly pops up! Praying for abundance I am. I'll make sure to follow all the things I learened from this video. Balance as always. Balance
Just as a side note: the last point talks about balance, saying one should maintain it, as the pendulum swings both ways. Meaning things can quickly go downhill. While that may be true, I want to add that if one becomes a billionaire late in life after a life of serious lack, one might also see their new status as the balance for that previous life of lack. In that case, being wise with their money might just lead them to growing transgenerational wealth.
This is a beautiful perspective, Daisy, thank you for sharing it, didn't think of it that way. Now instead of one thinking about some certain state of downhill that can happen, they can also think of their newly-found wealth as the balance from the lack and suffering they have experienced in the past. And are now at a neutral state.
I have a different timeline: Quit your job, take $100 000 and go on a buying spree to get rid of the urge to buy things that are really not important. Deposit the money in the private banking system. Take out enough to live on for a year and lock the rest away. Sit down and plan how to build your capital so that it never depreciates. Implement the plan but make allowances for adjustment. Don't tell anyone that you are wealthy, especially your friends. Buy an apartment in Monaco because you are bound to meet people more wealthy than you and you will be unnoticed. Rubbing shoulders with wealthy people will change your perspective of self important and make you look reality squarely in the eyes. Be discreet when you have fun.
No banks!!!! But GOLD AND SILVER, and just wait…. The federal Reserve is not FEDERAL, and it’s about to collapse under its own weight (debt). Metals WILL go to the moon. MARK MY WORDS.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Profitable investment requires experience, a solid strategy, and preparation, which we lack. Understanding buy/sell ratios, identifying market leaders, and diversifying are key to reducing risk. And this what he provides.
My parents have passed, I was never able to have children and I've never been married. Therefore, there is not one person on this Earth that I need to tell if I've won the lottery or not. It would be my little secret and mine alone. 😊
@@love_reka_8877 I've lived almost 6 decades so I don't deal or fall for Sly slick men and I don't have any friends, only acquaintances. Just the way I like it. 👍
@@Olivia-pe5vf How dare you! I am a stranger to you and what a personal insult that is to tell me that I should just adopt a child. You know nothing about me therefore you do not know my situation. Adopting a child is not like going to the shelter and adopting a puppy. Some people cannot afford to adopt a child and the financial aspect of adopting is staggering. How hurtful your words are. You should be ashamed of yourself. I was pregnant at the age of 39 and at 5 months I lost the child, only to find out that I could not have any children after that. I hope you feel good about yourself now. How heartless of you!
Point #4 is incorrect. Don’t let it sit in a bank account. Get it into a money market account or use a sweep to spread the total amount amongst several accounts. Bank accounts are only insured up to $250k.
The point was to secure it so it's untouchable, yes savings accts(the ones called savings) are garbage. You'll want short term CDs, bonds or something like that so you can't touch it. I'm not wealth builder of knowledge, but I have seen the value of all of these pointers, not with just big new wealth either.
“The only ones who make it in this business are those who fly straight. Low key, quiet. And the ones who want it all - chicas, champagne, flash. They don’t last.” - Frank Lopez
I heard an expert advisor to the stars say the exact same thing but with one caveat: move, buy a new house somewhere nice, but don't sell your old house, don't completely relocate, only partially, so that you can still tell everyone that you're gone but that it's just for a temporary extended vacation... you now have a second home somewhere nice that you can escape to for however much of the year is needed each year. Without uprooting from your old world in a scorched earth rampage.
If I ever get rich all of a sudden the first thing Im going to do is go to my local church and pray a big thanks to God for blessing me. Then I will follow the next steps here.
I would do the following depending on the amount: - 250k to 1m in a managed trust / bank managed fund with guaranteed and fixed yearly returns. - 500k to 2m in etf’s (30% high risk and 70% in more stable with lower return) - Finance the needed amount (using or the investment portfolio's or the available cash as a guarantee for the bank) to buy 3 properties and rent them out to have an appreciation of your estate and to receive a decent cash flow. - Pay off your home - Buy some toys and travel the world, you made it.
@@adventsociety5382 Your answer is not fully correct, and maybe i should have explained myself a little better. There are active investments funds or banks that guarantee a certain return per year ot they funds / packages. This % remains the same in high or low performing years. Very interesting (depending from your fiscal residence) also as a way to get tax discounts on your personal taxes.
Paying off your mortgage is really dumb. I can tell you're not super rich or you would understand that debt isn't bad. If you're rich, it's important to contract debt. It's poor people who shouldn't borrow.
I remember reading articles about how most lottery winners go bankrupt. That shows that most people aren’t ready to be rich unless they change their mindset and habits with money. These are solid tips 🔥
@@offworlder1 Nah I think lottery winners are just dumb because people who play are generally dumb. It's a good thing they lost their money. A succesful society is one where the bulk of the money is held by the smartest.
This is a very good video. Having said that, I believe that a much, much better #2 is: #2: Hire the professionals you will need to protect you, both from others and from yourself. 2a. Hire an attorney. 2b. Hire a financial advisor / CPA. (Note: do NOT sign anything without your attorney's approval.)
I would also add to that: hire more than one financial planner but don't tell any of them about the others. This will give you a more objective view of whether their advice is sound or not. Some differences are bound to occur but if they are all wildly different from the others, get rid of them and hire a second round. Also, don't tell any of them exactly how much money you have. Give each of them about $200K to invest and see what happens. Tell each of them that's all the cash you have. If your windfall is massive, you won't miss a few hundred thousand. I watched a YT vid about a lawyer who specialised in helping people manage their sudden wealth embezzled money from all his clients and most of them lost the lot. Just goes to show you can't even trust the professionals who get paid handsomely to work for you.
@@Uber_handle Lol. I mean, to be fair, it is still generally good advice. It's just a little gut punch once you realize you just watched 4 minutes of a 13 minute ad.
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
I stopped listening and taking stock recommendations from these youtubers, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, so you see I’m often in the red.
I’m a contractor, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary actively restructuring my portfolio for the past 7 years now to match the present market condition and that’s how I’ve been able to stay afloat, knowing when to buy and sell…maybe you should do the same.
My CFA Melissa Terri Swayne, 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.
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
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Carol Vivian Constable 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..
DON'T TELL NO ONE‼️ REAPEAT THIS STEP FOREVER.... GET A BUSINESS AND MULTIPLE THE BUSINESS.... DRESS NORMAL DON'T GO GET DESIGNER CLOTHES NO EATING OUT‼️ NO TELL YOUR WIFE OR GF OR FRIENDS DON'T GO GAMBLING DON'T GO BUYING CRAZY THINGS STAY HUMBLE ACT LIKE YOU DON'T HAVE THE FUNDS MULTIPLE THE BAG DONT SPEND IT
Spirit is telling me something- I’m opened and receptive to all of the universe’s blissings upon me and my family- may each of you be infinitely abundant in everything your heart desires💜🌀⚡️💫💲💲💰💸💵
I sold my house and got a taste of money. You lose touch of the 9-5 pretty fast. You'll always need something "on the line" or you kinda rot away inside.
Famous last words that put many people on the street, homeless. "When I get rich" is a fallacy. The 'rich' have a high net worth, but the WEALTHY have MULTIPLE sources of income, to satisfy their daily needs and wants. Rich people NEVER get WEALTHY. PS First you get wealthy, then you get rich. 🙂
I've learnt two things from billionaires: to diversify your investments and to constantly put your money to work. This year, I hope to make money investing roughly $88k of my savings in equities.
That is accurate. In my opinion, diversifying one's investments is the best course of action because it can lessen the effects of a market collapse. Examples of diverse asset classes are bonds, real estate, and foreign equities.
That makes sense. I've been investing in stocks for two years, and I currently have a six-figure diversified portfolio thanks to my use of a financial market specialist. However, I want to broaden my horizons this year.
This year, I'm determined to see a financial counsellor, especially since the markets are all at record highs. I don't want to have unrealistic expectations and lose everything.
My father owner a bussiness for over 20 years and he was a dollar millonere in Turkey(net worth 15-20 mil). The way to lose money is not being able to adjust your spending mindset and thinking that money can be earned or replaced again. Today our family bussiness is bankrupt and I (22 year old male) couldn’t even finish collage because of financial incapbility and have around 5 million dollar debt passed on me. The reason we went bankrupt was 2 simple mistakes. 1- Don’t rent it, own it. 2- Think about every dollar you spend because there is no such thing as a small amount. 3- At the end of every month, calculate how much you spent on what. Some of the things you do often which are small amounts will pile up and you’ll realise.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
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.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
He's right....that's wealth. Rich means you have money but most will just buy more expensive things. Wealth means your money works for you so you always have passive income paying your bills.
*I'm 52 already and i already have a portfolio good enough to take of myself and my grandkids😂.Trading comes with alot of benefits and i just bought my first house through it, as a beginner i was scared at first, but I'm glad i took a bold step that is favouring me now*
Congratulations you are really doing well at your age im 45 and my finance are in rally in mess right now and great tip will really go along way in shaping my life im open for idea
We already have zero debt, no kids and no family that we wouldn’t want to help financially, so guess what, I’m quitting my job, buying a nice car, and a house in a nicer area, taking an overseas holiday and then banking the rest to live off the interest. Life is too short to be stuck at a dead end job, live in a crappy neighbourhood and driving an unreliable car.
I used to think money was the route to happiness, then I had children and realised that the more money you have just makes you selfish and materialistic. I would never swap my two boys for a lottery win however much.
@@pincermovement72selfishness is in the heart...and you would have to already be a shallow person to be materialistic...give me the money. I'm not greedy so, I actually think it would benefit me in becoming a better me
Another is the growth strategy, focused on capital appreciation through high-risk, high-reward assets. Income-oriented strategies target regular income from dividend stocks or bonds. There's also the value strategy, seeking undervalued assets for potential long-term gains.
I think the safest strategy is to diversify. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
After stepping away from my teaching career due to an accident, I discovered an exciting side gig. I teamed up with a grant writer who assists me in locating grants and funding opportunities that I can apply for. It feels incredible to access what feels like free money for both personal and business needs. The process is simple: I submit my applications and then wait to see if I'm approved. Recently, I was thrilled to learn that I was approved for a $500,000 grant, and to my astonishment, the funds were deposited into my account just yesterday. This video and the comments resonate with me deeply as I navigate this new experience, as I've never received anything like this before.
Wow 🎉 That’s hell of an idea about grants that you’ve got there and meanwhile I’m just here seeking loan or grants to get a truck for the past 12 weeks, I have submitted various applications but to no avail.
People never do the math. A million dollars will generate about $45,000 per year that's nog enough to live a comfortable life, but if you continue working that money will make life much more comfortable for the vast majority of people
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
I thought about investing in the real estate market, I heard that people make millions , but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $460,000 but it's hard to bite the bullet and do it. Money is hard to come by
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Julia Hope Marble 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..
My 2 month old Ilc got approved for 180k in small business Grant program here in TN, I formed this IIc because this will protect my personal assets if my business struggles financially it also has a smaller tax and compliance than other structures. Unbelievable I could get grant funds this early. My grant writer assured me this. My company will be selling homemade artisan chocolates. With passion for chocolate and savvy planning, I am excited to make my artisan chocolate startup a sweet success! It will take dedication and hard work. Just like perfecting a chocolate truffle recipe, creating a thriving business takes experimentation and patience. I ready for this 💯. Grant money can take your business from nothing to something. I really appreciate the state of TN and my grant writer (Grantdocks) for matching me with the right people to connect with
Instead of thinking about becoming a millionaire we should be teaching people fiscal responsibility. Live below your means, invest for retirement, have 3-6 month emergency fund, save for your children’s college, pay off your mortgage (unless interest if less than 4%). Only when you have met these requirements then take risks in the stock market.
Begin investing in the stock market as early as possible, so your dividends have longer to compound. $100 a month can work, and even less per month, if that's all you can afford. But start now. Don't wait until you've paid everything off before you begin. Time is your friend if you start early enough and reinvest some of your dividends.
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $$275k to $850K...
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
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
Shutting up is the most important. The banks are financially unstable. Leaving the money in the bank, especially over the FDIC protection limit is risky. A lot of financial advisors are stuck in old fashion investments. For example if you had your wealth in low interest rate Treasury Bonds, they went down in value. That's why the banks got into trouble.
You can do that yeah. Do get yourself a CFP. An ACTUAL, QUALIFIED CFP in real life, and not all these scam threads mentioning names that is trying to take your money.
You want an attorney and a certified financial planner. Usually the best systems are set up with business entities and trust accounts so you become bulletproof to litigation, especially if people realize you have money.
I have 3 nephews whose father tragically passed leaving all three large sums of money. One bought a house and continued working and is leading a happy life. One blew through his money, buying cars, doing drugs and is now in prison. Not jail, PRISON. The third was diabetic, bought a house, quit his job, started doing meth and died in his sleep leaving behind a wife and 2 children.
Witnessing a birth of new ideas and perspectives is exhilarating. I've made better decision that is growing my finance (over $20k every week) keep the videos coming
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Gillian Sara sheeran is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Same here all thanks to Gillian Sara sheeran, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.
I'm a bit perplexed seeing Gillian Sara Sheeran been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super
03:31 It's always advisable to invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Marisa 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.
1.) Buy house in Japan. 2.) Eat healthy get fitter. 3.) Live happily ever after. 4.) Thank God and trade crypto. I don't get this video it's simple for me.
I got rich buying and holding Nvidia stock. Borrowed and yolod everything i had into it and more. Not a smart move other than picking the right stock at the right time almost. Now i have diversifies some. I havent quit my part time job as i would get to bored....8 hours a day goofing off...i think wealth is overrated as i never really have been tempted to spend much. Spending stresses me out. Then again i like the idea of having "made it", and I feel pressured to become a lawyer or anything like that and i can work part time, and work because i want to which makes a difference. (Dont trust any spam financial adviser name dropping in the comment section/spam btw.)
I agree with all of them except not moving, it wouldn’t be wise to stay in a low income neighborhood with high crime if you run into money. For safety reasons move, especially if you win the Lottery and you’re in a state the requires you to be on the news (ex. Florida)
there’s a show in South Africa dedicated to people making poor financial decisions. I think it was called “I blew it”. It’s like watching the same thing over and over. They all do the same mistakes 😂
My aunt had a comfortable home and job, she decided to sell the house to start a business, but as she's never had such a large sum of money before she blew it all on the business (which she had no idea how to run). She was also always used to being in debt, so more money meant acquiring more debt (not clearing it). Now she's lost her home, car AND business. If you don't know how to manage your money having more of it won't solve your problems but exacerbate them, because the poor mentality still remains along with their spending habits, just on a larger scale. You have to respect money if you want to keep it, or you'll end up worse than before, I've heard the same story so many times.
15 Things to do if you get rich all of a sudden (mentioned in the above video)
1. Don’t let anyone know.
2. Pay all of your debts (don’t create any new debt)
3. Don’t quit your job yet.
4. Secure the money and let it sit fora little a while (process it fully)
5. Make investment in yourself a priority
6. Do not hire any new financial advisor (if you or your relatives already have one).
7. Get comfortable but not rich -comfortable (pay off house but don’t move to rich people neighbourhood and don’t buy too many cars etc)
8. Don’t invest on your friend’s business or lend them money.
9. Do not start a business immediately (start small)
10. Prepare for change
11. Focus on getting healthier
12. The 5 % rule (means you should only spend 5% of the money you receive on things you want right now, like fun or treats or anything else. The rest should be saved and invested for important things in the future)
13. Protect your kids from this money
14. Do not cheat on your partner
15. Play it safe (don’t put your money in shady businesses
16. The law of averages at play [BALANCE]
What is 5% rule?
@@NeuKrofta The 5% rule means you should only spend 5% of the money you receive on things you want right now, like fun or treats or anything else. The rest should be saved and invested for important things in the future!
Bot
@@artofbelieving thanks!
Thanks
My sister in law inherited two large homes in NM, a dozen plots of land, 2 cars and a truck and a few thousand ounces of silver and some of gold. In total it was more than half a mill. The gentleman who passed wasn't exactly rich, but he did have nice things, the result of a lifetime of saving and working. He lived alone, no family. My in law got enough to where she could slip into a very comfortable middle class life. But she decided to sell everything. Needless to say, she sold at a bargain and got a little over 250k, which she and her husband used to live without working for about 18 months. Then she want back to work and live paycheck to paycheck again, but now with many problems in her marriage, and since they both had been out of the workforce for a while they landed jobs that paid even less than before. All in all, she ended up a little worse off than before
Everybody read this part again "the result of a lifetime of saving and working" - it is attainable to everyone who makes good decisions.
She fumble bad
@@dibari22Just don't be too attached to those finances either because bad things can and do happen. Medical and property damages are common problems that come to mind. Just remember that, while still possible, wealth isn't all that matters.
Sadly, it seems your sister in law was already financially illiterate before the money. Her first mistake was not holding down a stable job at all times. You shouldn’t need to use the new money. Her second mistake was under selling by 60% out of desperation to liquidate or not knowing the true value of the assets. Her last mistake was living way over her means and blew the money. For $250k to last only 18 months means she spent closes to $200k the first year before she knew she was bleeding money! $200k is double most high cost of living area middle class salary! It all circles back to her core issue of being financially illiterate.
Sad story..
I know this video is on my recommended for a reason.
Hopefully, soon, you'll receive an abundance. Blessings 🙏
183k people have watched this video honey. Amen
Me too 😂
Gotta B at this point!
I attract Money cause I ❤Money & Money ❤Me
Wrong! The very first thing to do is to consult a tax attorney (before even telling your spouse or family members). Discuss with your attorney whether or not to create a revocable trust BEFORE you cash the lottery check. A trust can save millions in taxes and provide a healthy layer of privacy (i.e., if the name of your trust does not include your last name). Also remember that MONEY IS NOT THERE TO SPEND. IT'S THERE TO CAREFULLY PROTECT AND INVEST. Spend only the proceeds from your investments, never the principal!
Thanks for that very helpful information.
So true. Most people don’t know what to do with money, so immediately go to the pros.
I like that word, balance. Well Balance
Remember inflation. Don't live on all the interest. If inflation is 5% and your fund yields 6% the absolute maximum you can live on is 1%, otherwise you're getting poorer.
If you're debt free, you're richer than most people..... if you know the difference between 'want' and 'need', you're up another rung on the ladder. .....if you aren't a slave to 'convenience', keep on climbing! Your hands and willingness to learn practical skills are worth more than being hellbent on impressing the neighbours, you don't like, with the latest useless material sh/t.
If you love and crave money, you're never going to be happy with what you've got.
Learn new practical stuff everyday. It's took just 2 generations to turn society into being dependant on big corps for practically all our basic needs.....that should be a big red flag!
Don't be bedazzled by shiny things...... you can't eat them when the shtf.
Any degree of self sufficiency skills are worth more than a designer label.
Great advices miss, thank you so much!
Underarrated comment!
Not quitting your job is the wrong advice I wish people would phrase this better. If your job is not bringing you satisfaction, then quit the job. Don’t quit working, but quit that job. Go find another job. The issue is not whether you keep your current job, it is whether or not you continue to work after you come into a large sum of money. The answer is yes continue to work, but find something that brings satisfaction.
True
I agree. I would even go as part time if anything.
I would volunteer at a home for disabled people
I would have a hobby
You all just simply missed the point 😂😂 the point is to avoid any dramatic change you would not have made before. Wait like two months or however long you feel is necessary then change to a better job if you feel that is still necessary at that point
My father worked with a guy who won a minor lottery -- a few million.
He quit his job and bought a new outboard for his fishing boat. His wife divorced him and took half the money.
She was back two years later, having spent all her money, gone into debt, and was suing him for more. Since this was 1990 and the judge was an old country boy, he told her to get bent.
The lottery winner was still fishing last time Dad heard from him.
Ahh, the golden days, before feminism infected everything…
Good for him. She was only there for his money in the first place and she thought she was better off without him. Kick rocks, brokie! 😂 I will say he's lucky she didn't try to kill him to get all the money.
@@alexman378 you need help
tell me you're single, w/o telling me...
@@OrontesRM What if he is? What if he isn’t? What’s it to you and why is that relevant?
Actually, I did get an unexpected inheritance and I did lose it . Huge hospital bill, plus a bad investment into farming, and then a pandemic that lost me my business. That money kept me alive actually so it was a blessing. I am sad I didn't have it in a way to keep it for aging though. I did lend a friend money and he paid back every single cent. I did invest in myself , completing two diplomas. I also spent some of it on some things I needed, like a giant washing machine for my dog blankets. I should have invested it but I only put away a teeny bit. I also am back in cc debt due to a sudden loss of my partners business and a huge utility bill that was totally insane. I also did have some fun that I do not regret one bit. I went camping ! It was great . I'm pretty sure I'll get lucky again one day . I sure hope so. Thing is that retirement is out of my class hahaha
1st thing
Stay quiet
Then act like your not rich
Don't get flashy
Stay low key
When I close my eyes and dream of winning the lotto, these are the exact points I tell myself.
@@therhythmatic hmmmmm Me ….Big House …Dodge Demon ( pink slip) Girls ….Cocktail Parties ends at 9:30 pm. I actually an introvert so there is that 🤔😉…. Mutual Fund….Triple AAA Stock ..My Own Library Filled To the Brim with Books I Love . Thank You Universe
Dress very casually like you are poor…
Definitely. Especially where you live. Don't be the person with the best house and the best car and the best everything. It's much better to blend it and be anonymous. Most billionaires nobody knows who they are, and that is on purpose. Let other people show off and make themselves targets. It's better to live quietly in peace.
That’s exactly what I say to my self!
The first piece of advice is essential. You have to be wise with your money, yes, but also socially wise. DO NOT LET ANYONE TAKE ADVANTAGE OF YOU. SILENCE IS POWER. You don't know people's intentions until it is too late. Just because you think people are genuine or good-intentioned doesn't mean they truly are. Once someone sees you have success, they want to be a part of it too. Humans are naturally selfish and you should be too. HAVE BOUNDARIES. Money is not the root of all evil, WE ARE. If a family or friend tries to guilt trip you in any form, that should be your first sign to distance yourself. Invest in the money before you spend it. Manipulation is not 1 dimensional so use discerment. Reflect on the people who were there for you. BE KIND NOT NICE. Because you will be taken advantage of. Invest first then see who you can help but first rule, is if no one knows it, no one can interfere
'Be kind, not nice'. I like that quote. Another quote I learned recently - 'Givers need to set limits, because takers have none'.
@@fredfred4086that’s so good too!!
My uncle always told me, for every $5 you give, make sure there is $6000 behind it, this is the only measurement you should use when deciding on giving or lending, along with never letting anyone even your own children know how much or when you receive cash. He’s the only millionaire in my current bloodline and I’ve been under his wing since a young girl, following his advice, I am next.
I get the sentiment, but your security shouldn't be dependent on secrecy. Like Kirchoff's principle in cryptography, It's best to start with the assumption that everyone will know you have money, and still be secure. If your entire security model is dependent on the cat never getting out of the bag, that is extremely fickle and weak.
@@ericv4189 Well it depends on if you can trust your loved ones. I already explained why I said that. It's not about paranoia. It's about not being taken advantage of and using discernment. If you don't get it, you need more life experiences, or you are privileged enough to have a good support system OR you are that person doing the manipulation to others. It is not weak at all. It is called being smart and not easy for others. Some people are easily taken advantage of, so that's why it's just better to move in silence. OR people can get harassed once others or specific person knows they have something better. If you keep your mouth shut and your money moving, who's going to keep in you in a cage?
My father died when I was 13. He was fairly well off but also only 37. Although he knew he was dying for at least 2 years, he didn't have enough time to get wealthy. But he did put a good amount of money into a trust for me. His mother, my grandmother, died the next day after him. I also inherited his portion of her house when it was sold. I had a good amount money. I was supposed to use it for college and if I didn't go I couldn't touch it until I was 27. We'll, the trusty, my uncle, failed to keep it out of my hands. I fell into drug and alcohol addiction and manulipated it from him, and it was all gone by the time I was 20.
Ironically, I got sober at 27. I learned a lot about what not to do with money. I have educated myself about how it works and am trying very hard to make enough to invest. At 45, I am still struggling with that quest.
You will make it all back and you will make your father & grandmother in heaven prouder ❤
Have you kept it in high-yield savings accounts at least??
@nothnx3210 Hahaha... no. I said it was all gone by the time I was 20!
Thanks for your honesty, you still have time!
I agree with not quitting your job right away… wait for the right moment when your boss is pulling a power trip like “you need to step up your game if you want to continue working here..” and then quit gloriously 😂
touché
My thoughts exactly
And if anyone does do this, please make sure you tell your story in r/MaliciousCompliance so we can all get a laugh out of it.
Indeed😂
I could loose all my money n be dead broke I'm still not going back f that
BALANCE. Absolutely keep your mouth shut. You don't want to open the door one day and find Aunt Gertrude's fourth cousin five times removed whom you've never heard of standing there with a sob story and his hand out.
Throat punch lol
MOST IMPORTANTLY, LEARN HOW TO SAY "NO!"
@@GodessQueenTila or you can hire someone to say NO for you
@@alanaldpal950 YOU CAN DO THAT TOO! BUT I HAVE LEARNED THAT SAYING "NO!" TO EVERYONE AND ANYONE IS BEST. IT SHOWS YOUR INNER STRENGTH AND NOT ALLOWING OTHERS TO BULLY YOU OR MANIPULATE YOU INTO "HELPING" THEM. WHEN YOU GROW SOME COURAGE SAYING NO STARTS TO MAKE LIFE REAL EASY! ESPECIALLY WHEN THEY CAN NO LONGER TRY TO MAKE YOU FEEL GUILTY ABOUT IT AINCE THEY ARE ONLY AFTER THE MONEY AND DON'T GIVE A FLYING F*CK ABOUT YOU TO BEGIN WITH.
@@alanaldpal950 IT WOULD SAVE A LOT MORE MONEY TO BE COURAGEOUS AND LEARN TO FACE YOUR FEARS OF TELLING PEOPLE "NO!"
Step 1: Get rich suddenly
Pay off debts, purchase house/home. Invest in real estate - keep houses in the family for generations. Invest in yourself - health, knowledge and travel. Get a financial advisor. Put it all in a trust. Live off the interest/return.
Live off of a portion of the interest
Getting a financial advisor is the number two reason why lottery winners go broke. According to Marc Cubin, DO NOT invest your money at first. Put it into something like a CDAR account (extremely safe). then start invest small amounts and go from there. He goes on to say, if you have never invested large sums of money, you don't know how to do it. And trusting someone else ..... even more stupid.
well real estate will tank soon, because of birthrate
@@almoemasonInvesting is simple. Just put everything into a bank account or S&P. Government bonds are amazing as well for hedging against inflation. No need to create a sophisticated portfolio with all that money, no need for a financial advisor. Even 1-2% a year over inflation will make you enough money to be in the #10%. If you have enough cash, purchase some nice property for renting and you are set for life.
@@ksize7058 It's not about the properties. It's about the land, there's only so much of it.
Favorite saying of lottery winners that went broke…… “I spent all my money on hookers and cocaine….. what was left over I wasted”
I heard a different version: "I spent my fortune on booze, fast women, and slow horses. The rest, I just wasted."
Even broke men spend all their money on booze, cocaine, and hookers. 🙄
This is the lot of the weak)))
Conflicted, want to thumbs up and down.....thumbs up for this idea that lottery winners go broke because....(insert failure). Next thumbs down for seeing that people have no will power or better yet the money made the person to spend the money. Lol take care people peace love and the pursuit of happiness
Famous quote by George Raft
For me:
1: Pay off my debt.
2: Put the rest in in a high interest savings account.
2. If it's between 1 million and 2 million I'm still working.
3. If it's over 2 million I'm quitting my job as soon as I get my first interest payment.
4. Any amount over 8 million goes to secretly paying off my families mortgages/debts through a third party so they don't know who did it. Any remaining amount above 8 million to helping the local community.
4. Any amount I make on interest over $365k a year goes straight to helping people. Any amount of that $365k each year left over that I don't spend also goes to charity.
I'm not going to change much about my life except buying a condo in the middle of the city and decent sized shop I can play around in.
If I can't make it off $1000 a day then I don't deserve to make it.
You need to factor in inflation.
❤❤❤
That's a great plan until there's some economic crisis and the central bankers put interest rates back down to 0.25... I'd keep the job for a few years to build up the wealth and security further.
Bitcoin
Bitcoin
Before I watched the video my plan if i was to win anything more than $100k would be the following
1 - Pay all non-school debts (Roughly 20k)
2 - If i have enough, pay for Flight School (100k)
3 - If not enough for number 2, pay for Private Pilot's License (Roughly 25k) Continue School
4 - If enough, buy a new car, no not some super car or super flashy thing, just get rid of the 2018 Nissan i have and get something like a Totoya Hybrid, something fuel efficient and comfortable, shouldn't be higher than 50k, right? And paid in full. Skip this if I only got 100k, instead, new tires and big repairs done on my current car
5 - Dont move out, stay renting, maybe pay the year in rent? ($900xmonths left of the year)
6 - Send 10-25k to my brother depending how much I have (He's across the country working 2 full time jobs, hope it'll help get somewhere better)
7 - Invest 50%-75% and save the rest
Now onto the video
Yeah I probably ruined a good bit if not most of the Balance now that I've seen the whole video XD
My brother was parted with everything he owned at the age of 52. He died of cancer. The invest in you needs broadening. You can change your house, car, friends, spouse, but ultimately you only get one body to travel in. So look after it, else wealth will mean nothing. So MOT your body. Pay for a full health check, every year. You catch something like cancer early, longevity or full recovery is possible. You ignore warning signs, by the time you act it could be too late. So invest in yourself. Eat better. Get the gym membership you promised yourself. You have the wealth, so start on health.
Love it how you describe it. Sorry for your loss. All the best Gavin.
I agree I would give away all my money to live longer
FYI , I agree , but , just to let you know… Med Beds incoming…. You will see. No fear regarding health or age
I have my rich person health plan all laid out. Weekly couples counselling, weekly individual counselling, healthy meals delivered to my door, full MRI, full gene sequencing, get that referral to find out which connective tissue disorder I have, get screened for every learning difficulty, sign up to my friend's yoga classes for people with connective tissue disorders, get physiotherapy for my dodgy shoulder I've had for over a decade. I'd love a blank cheque to become the healthiest me I can be. Even if I'd then spent it all and had to go back to my day job it'd be worth it to actually be healthy.
MOT?
#1 thing you do is talk to a financial advisor. If you bank at a big bank, they will have financial advisors on hand- free of charge. #2 Pay off all your debt. #3 Get the the things you need!- a) fix your teeth, b) new car or fix your old one c) new house or fix your old one. Be humble and not brag too much about your money. It is nice always have a steady income coming in- whether job or retirement. My uncle won money in the 70s after a surgery went wrong. He lived a great life, went to Heavy Weight fights in Vegas, learned how to fly and owned a plane. Had three wives and even brought home a Vegas cocktail waitress. He ended up penniless. Be smart with your money.
Sounds like uncle was a gambler
Thanks for the fin advisor tips tho bcuz I was curious where I’d get one.
& yes TEETH! Everyone always skips teeth ! That’s a huge part of health management 💯
Fix your teeth 😅😂
@@kgalifenty4460 Sounds silly, but it's not. If we make huge mistakes being poor by having low self-esteem/not confident enough. Imagine the horrible tragedies you will be able to do once you're a millionaire.
@@love_reka_8877 truth, crooked teeth means inefficient nutrition absorption bc you can't chew thoroughly, and even slight imperfect bite creates unnecessary tensions in your face that will hold you back from looking your best
I love when two or three people who are working together, come to the comment sections acting like they strangers who are engaging in conversation, in order to promote some one who helped them financially. But are really scammers….So obvious
I think it's one person using different aliases.
I keep reporting it as spam. It’s super annoying. They are bots
Big scammers
It's probably not even a person but a scam-bot. Either way it's a scam. You see them in every investment video of every kind.
It's a line of bot accounts.
When i got leukemia, i got about 40 000$ from my insurances. I enjoyed seeing the money in the bank account for an hour, then i called the bank and paid off my mortgage, one of best decision I've made.
I hope you cured your disease naturally and didn't go with western medicine ... Bi carb soda and water for 30 days... Research it
Be blessed
Namaste
Boss level move 🎉 by the way...
I assume you are US-American, aren't you? Can you explain to us Europeans why your health insurance paid you such an amount? In Europe, the insurance would pay the hospital etc for your treatment and not you directly. How does it work on your side of the Atlantic?
Oh, and I hope you recovered from the desease. 🙏
@@somewhereright3160Same doubt here
Hope you beat it mate... 🙏🏻
Health is life ❤️
I've said a big prayer you are happy and healthy for many moons to come
I really appreciate the dedication in each video you post. To be successful one has to have multiple income streams and so on, also investors should understand the crossover between asset classes & liquidity flow, Angie Chen Owens focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...
Angie Owens strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.
she's mostly on Telegrams, using the user name
Rich people are afraid to go broke, but the thing about poor people is that they are not afraid to go broke if they ever get rich. -Onedaymillionaire
Because YOLO 🤣🤣
That is because poor people often do not make good financial decisions because they lack experience, or have terrible impulse control.
@@offworlder1 thats the reason why they are poor in the first place
@@Patttiat Some are just born into poor family but actually become very financially successful, others gain money through relatives, winnings, or random chance.
The best way to get it is having stock options you are introduced to by a relative and learning how to invest smart, getting long term riches is a long game.
@@offworlder1 without finacial intelligence it´s not gonna work out.
Absolutely shut up when you accumulate wealth!!! I don't have much but a year ago i let it slip to a family member i had over 50k not alot of money 💵 but they didn't even have 1k in the bank and they resented me because i had self discipline to save money,
It's ironic that people resent the ones who sacrifice and are patient enough to achieve an end goal. One would think that you'd be an example of what could be accomplished using such a strategy but instead you get attitude. I had a roommate like this. Would spend everything he made on treats, brag about the bargains he'd scoop up but never paid down debt. Leaving him perpetually stressed about his finances, which was his justification for needing "treats."
That’s only relevant if people are earning enough money in the first place to save. Currently, the cost of living is enormously high compared to wages.
@jcr-studios they made enough to save, heck they make 3 times what I make!! They just spend their money like a drunken sailor on shore leave.
Do you have self discipline or do you not have a life?
which family member was it?
This is the first video I'm watching today... And it has already made my day...
I watch dog and puppy cute videos. Makes my day
"Ever since I started following Anne winfield's advice on solar energy investments, my life has completely changed. I was skeptical at first, but the returns have been phenomenal. Now, I don't worry about my financial future; I'm actually planning a retirement abroad!"
Anne's insights into the market have been spot-on. She guided me to invest in some of the best solar stocks like First Solar, and the dividends have been more than enough for my family's needs. We've paid off our house and are now debt-free!
I was one of those who barely understood solar energy. But Anne made it so clear and accessible. I invested in a community solar project she recommended through RXCEnergy, and the returns have been life-changing. We've moved to a bigger home now!
From living paycheck to paycheck to building a nest egg, RXCEnergy's investment opportunities have been a game-changer for my family's future
Anne winfield introduced me to the idea of investing directly in solar projects. It's not just about the money; it's the peace of mind knowing I'm part of a sustainable future. But yes, the financial freedom it's given me is indescribable
I was in a financial bind when I came across Anne's talk on RXCEnergy investments. She showed me how to invest in the right ETFs that focus on renewables. It's amazing; I've seen my savings grow exponentially.
“Don’t cut down a money tree for temporary fire wood”
Its that simple. Do that and coast forever.
#4 secure the money and dont spend any of it for 6 months.
ha, what a joke. Nobody does that.
For me, I'd buy a few items I wanted/needed or go on a decent vacation trip. The amounts of which would depend on how much of a windfall I had received.
@@GizziiusaYeah, most spend everything in 4 years then go back to be miserable.
@@Gizziiusa yes, the video is full of wisdom but I think that's exaggerated. I would say "spend little" instead of "spend nothing".
The late spouse and I had a plan: Pay the taxes, pay off all the debts, purchase the land the trailer sat on, build a barn, maybe get a new trailer, trust funds for the kids/grandkids so if they want to go to college they can, endow a scholarship at the alma mater, oh, and a couple of "new" old cars, preferably 1960s because he could work on them. Oh, and Apple computers all around so I don't have to share. That was pretty much it. And the likelihood of it ever happening is pretty slim since there are no inheritances in the offing, and it's hard to win the lottery if you don't purchase a ticket. Balance.
I feel sad because you're honestly not asking for much and you deserve to have that. I have similar goals too. Just want to be comfortable and have some small "luxuries".
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% Mutual funds , 25% Index funds, 15% STP and over 30% in digital assets, thanks to my CFA. This strategy has helped me earn $49,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
Oh I've heard similar things about hiring an advisor. It's hard to choose one that's very good though. Could you make some useful recommendations?
I've experimented with a few over the past years, but I've stuck with ‘’Amy Desiree Irish ” and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Thanks!
This happened to me. I won’t lie whatsoever. I inherited 500k when I was 27. Changed the course of my life. No debts. Paid for my law degree got the check and dropped out of the bar exam. Basically said screw this I’m leaving corporate America behind.
That’s not even a lot ahaha
@@kristianwilson3708 troll. What makes you all do it? Is it an urge to always play devil's advocate or find something wrong? What's the reason?
@@PrincessofGod-pogBut he’s right though, 500k is not a life changing amount, wouldn’t be giving up my job or anything, it’ll allow you to pay off debts but you’ll still need to work
@@okee9 he's not right. That's a large amount of money.. ofc not to retire on but to get a lot started or fixed? it's a large amount compared to $0, $20k and $60k.. 500k is a large sum of money. You are trolling playing devil's advocate as well bc there's no way you believe 500k is not a large amount of money to receive
Now that you are 28, any of that $500k left? LOL.
2024 has truly been a transformative year for me. At 29 years old, I've spent the past six years as a truck driver, but deep down, I always longed for the freedom to call my own shots and take control of my destiny. Working as a company driver made it tough to see real financial rewards in this industry.
In March, I achieved a significant milestone by winning my first grant of $600,000, which has allowed me to launch my own owner-operator (0/0) business. This has been a monumental step forward in my life.
Remember, whatever the human mind can believe and conceive, it can achieve. So, believe in yourself-believe, believe, believe! Set clear goals and start working towards them. You can do it!
well done , i'm happy for you 🎉
I wish you success in your endeavors. You believe ✊🏼
Congratulations 🎉
Is this a sign?
i’m so proud of you for bein resilient and workin to accomplish yo goals een if they challenging!🫂😇
The CONSUMER MINDSET is what keeps people broke! Even if they become rich overnight, it's almost guaranteed they will be right back where they started. Your mindset needs to change first.
So what mindset do you change it to then?
@@nessmess500 An entrepreneur mindset. Any extra money you earn, reinvest into your online business, trading account, etc. and make more of it.
@@mjl6425Investing into your business is foolish in these conditions. If you get rich, 90% of your money should always be in some secure assets like good property, ETFs, bank account or bonds. Then you can think about giving your business 5% of that.
@@mjl6425so instead of looking at money as potential stuff you can buy, you see it as a way to make more money?
@@mjl6425 Exactly. When people get money, they think about what they can buy. Instead, they should be thinking about how much they can save. You don't need a $10K watch to tell time when a $100 watch will do the same thing. You don't need a $200K car to drive to the grocery store. You don't need a $5K suit when a $500 one will do.
“Alright, so this video hit my broke-but-saved-a-little nerve. I’ve got $158k parked in an emergency fund (yay me), but now what? Stocks? Real estate? Buy a yacht and call it passive income? Someone hand me the first chapter of ‘Rich People Moves for Dummies.’ I’m ready to stop watching and start doing-but I need a head start, fast. Let’s go!”
$158k emergency fund? That’s a flex, not a dilemma! But before you throw it at meme stocks or yachts, have you thought about getting a financial advisor? Mine saved me from some spectacularly dumb ideas. Let them figure out the smart moves for you
You both make good points-I've got some cash, too, and I’m ready to invest but I don’t even know where to find a solid advisor. Google feels like throwing darts in the dark, and I need someone legit to steer this ship.”
There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with ‘' Linda Aretha Reeves” for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
Just looked her up, and wow-she seems like exactly the guide I’ve been needing. Appreciate the solid recommendation!
Saw Linda Aretha Reeves speak at a Bloomberg Finance Summit a few years back, and she owned the room. Definitely knows her stuff-good luck, everyone!
Rule no 1: leave your country asap and run away from all the fake relatives and friends.
That's my plan :)
Yeah move to developed country
You got that right everyone will all of a sudden be your best friend right!
2 : move to a country with low cost of living but high enough quality life if ur wealth is 500 - 700K:
Ex : Thailand, malaysia, Indonesia
Yeah, there was this bitcoin millionaire. He fled to a neighbouring country to start fresh. Couldn't keep his mouth shut.
The universe is maybe up to something really good for me, this video suddenly pops up! Praying for abundance I am. I'll make sure to follow all the things I learened from this video. Balance as always. Balance
Me too. Manifesting it 🙏🏾
Same here. 🎉
God is good
No need to pray for it. Since this video popped up for you it's confirmation that your prayers have already been answered! It is done!!
@@benbalachis true ❤
Just as a side note: the last point talks about balance, saying one should maintain it, as the pendulum swings both ways. Meaning things can quickly go downhill. While that may be true, I want to add that if one becomes a billionaire late in life after a life of serious lack, one might also see their new status as the balance for that previous life of lack. In that case, being wise with their money might just lead them to growing transgenerational wealth.
This is a beautiful perspective, Daisy, thank you for sharing it, didn't think of it that way. Now instead of one thinking about some certain state of downhill that can happen, they can also think of their newly-found wealth as the balance from the lack and suffering they have experienced in the past. And are now at a neutral state.
Yes, this matches with my own conviction about it. It could be that way, too. Thanks.
I have a different timeline: Quit your job, take $100 000 and go on a buying spree to get rid of the urge to buy things that are really not important. Deposit the money in the private banking system. Take out enough to live on for a year and lock the rest away. Sit down and plan how to build your capital so that it never depreciates. Implement the plan but make allowances for adjustment. Don't tell anyone that you are wealthy, especially your friends. Buy an apartment in Monaco because you are bound to meet people more wealthy than you and you will be unnoticed. Rubbing shoulders with wealthy people will change your perspective of self important and make you look reality squarely in the eyes. Be discreet when you have fun.
No banks!!!! But GOLD AND SILVER, and just wait…. The federal Reserve is not FEDERAL, and it’s about to collapse under its own weight (debt).
Metals WILL go to the moon.
MARK MY WORDS.
What is $100 gonna buy in today's time??
@@HassanAl-p5hhe has 3 extra 000s after that my friend 😂
better go to dubai. Monaco too expensive
@@flyingdragon6275 It depends where you buy...
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
That's awesome!!! I know nothing about investment and I'm keen on getting started.
What are your strategies?
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Haven't you heard about HENRY E ABAGNALE?
Profitable investment requires experience, a solid strategy, and preparation, which we lack. Understanding buy/sell ratios, identifying market leaders, and diversifying are key to reducing risk. And this what he provides.
My list…. 1) change my phone number 2) hire an attorney 3) hire an investment counselor 4) move.
My parents have passed, I was never able to have children and I've never been married. Therefore, there is not one person on this Earth that I need to tell if I've won the lottery or not. It would be my little secret and mine alone. 😊
DITTO!
Watch your back for those sly slick men Paige.. & so called friendstoo
@@love_reka_8877 I've lived almost 6 decades so I don't deal or fall for Sly slick men and I don't have any friends, only acquaintances. Just the way I like it. 👍
Adopt a child
@@Olivia-pe5vf How dare you! I am a stranger to you and what a personal insult that is to tell me that I should just adopt a child. You know nothing about me therefore you do not know my situation. Adopting a child is not like going to the shelter and adopting a puppy. Some people cannot afford to adopt a child and the financial aspect of adopting is staggering. How hurtful your words are. You should be ashamed of yourself. I was pregnant at the age of 39 and at 5 months I lost the child, only to find out that I could not have any children after that. I hope you feel good about yourself now. How heartless of you!
Point #4 is incorrect. Don’t let it sit in a bank account. Get it into a money market account or use a sweep to spread the total amount amongst several accounts. Bank accounts are only insured up to $250k.
Yupp HYSA, CD’s, MMA, and precious medals to preserve my wealth. I’ll live off the interest without ever touching the principals
yes
plus the inflation will make you go insane
The point was to secure it so it's untouchable, yes savings accts(the ones called savings) are garbage. You'll want short term CDs, bonds or something like that so you can't touch it. I'm not wealth builder of knowledge, but I have seen the value of all of these pointers, not with just big new wealth either.
“The only ones who make it in this business are those who fly straight. Low key, quiet. And the ones who want it all - chicas, champagne, flash. They don’t last.” - Frank Lopez
Scarface. Good one.
I know of a guy who actually won the lottery twice, & now lives in a tiny house with no money & lives off the govt pension.
Experts say, "Hire an attorney, change your number, move"
I heard an expert advisor to the stars say the exact same thing but with one caveat: move, buy a new house somewhere nice, but don't sell your old house, don't completely relocate, only partially, so that you can still tell everyone that you're gone but that it's just for a temporary extended vacation... you now have a second home somewhere nice that you can escape to for however much of the year is needed each year. Without uprooting from your old world in a scorched earth rampage.
First thing: don't turn to RUclips for wealth management advice.
Sounds like a solid advice... 😂lol
I managed to save 5 figures working for only $300 a week taking “RUclips” advice
@@alwaysyouramandafrom where?
@@alwaysyouramandayeah where
This is sound advice. Some of this is common money sense but a lot of people don’t have common money sense. ☝🏾❤️
If I ever get rich all of a sudden the first thing Im going to do is go to my local church and pray a big thanks to God for blessing me. Then I will follow the next steps here.
I would do the following depending on the amount:
- 250k to 1m in a managed trust / bank managed fund with guaranteed and fixed yearly returns.
- 500k to 2m in etf’s (30% high risk and 70% in more stable with lower return)
- Finance the needed amount (using or the investment portfolio's or the available cash as a guarantee for the bank) to buy 3 properties and rent them out to have an appreciation of your estate and to receive a decent cash flow.
- Pay off your home
- Buy some toys and travel the world, you made it.
There is no such thing as guaranteed return. Some investments are more risk averse than others.
There is if you know what etfs to play, i personally straddle, guaranteed win
@@adventsociety5382
@@adventsociety5382 Your answer is not fully correct, and maybe i should have explained myself a little better. There are active investments funds or banks that guarantee a certain return per year ot they funds / packages. This % remains the same in high or low performing years. Very interesting (depending from your fiscal residence) also as a way to get tax discounts on your personal taxes.
Does anyone actually get the benefits from ETFs? All talk no buzz
Paying off your mortgage is really dumb. I can tell you're not super rich or you would understand that debt isn't bad. If you're rich, it's important to contract debt. It's poor people who shouldn't borrow.
I remember reading articles about how most lottery winners go bankrupt. That shows that most people aren’t ready to be rich unless they change their mindset and habits with money. These are solid tips 🔥
It’s too much money too fast, if they never had stocks, or any kind of money to spend then they will just start wasting the winnings like it is candy.
@@offworlder1
Nah I think lottery winners are just dumb because people who play are generally dumb.
It's a good thing they lost their money. A succesful society is one where the bulk of the money is held by the smartest.
How many people are watching this cause they suddenly got rich? 😉
Did you suddenly become rich? I am poor
Well, not me, im still in debt
Na this is just in case lol
❤️🙏 I WILL MAKE HISTORY AND WIN THE POWERBALL AND MEGA MILLIONS JACKPOT AT THE SAME TIME in Jesus name I pray amen 🙏 ❤️
This is a very good video. Having said that, I believe that a much, much better #2 is:
#2: Hire the professionals you will need to protect you, both from others and from yourself. 2a. Hire an attorney. 2b. Hire a financial advisor / CPA. (Note: do NOT sign anything without your attorney's approval.)
I would also add to that: hire more than one financial planner but don't tell any of them about the others. This will give you a more objective view of whether their advice is sound or not. Some differences are bound to occur but if they are all wildly different from the others, get rid of them and hire a second round. Also, don't tell any of them exactly how much money you have. Give each of them about $200K to invest and see what happens.
Tell each of them that's all the cash you have. If your windfall is massive, you won't miss a few hundred thousand. I watched a YT vid about a lawyer who specialised in helping people manage their sudden wealth embezzled money from all his clients and most of them lost the lot.
Just goes to show you can't even trust the professionals who get paid handsomely to work for you.
4:30 Ah, there it is.
😂😂😂
Remembered why I don’t listen to these videos anymore
@@Uber_handle Lol. I mean, to be fair, it is still generally good advice. It's just a little gut punch once you realize you just watched 4 minutes of a 13 minute ad.
@@tenorHarlequin I finished the video and it was valid but it wasn’t very heavy advertising when the channel began
Right after saying “ a fool and his money are soon pared” as well
Im a future billionaire
Crazy thing is I've always imagined I'd do all of this in this order.
Me tooo🙂
Same
Same here!
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
I stopped listening and taking stock recommendations from these youtubers, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, so you see I’m often in the red.
I’m a contractor, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary actively restructuring my portfolio for the past 7 years now to match the present market condition and that’s how I’ve been able to stay afloat, knowing when to buy and sell…maybe you should do the same.
Please can you leave the info of your investment advisor here? I’m in dire need for one
My CFA Melissa Terri Swayne, 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.
@2:39 definitely get a financial advisor and a good one, there may be some tax implication in the gains from it just sitting there.
6:01 big one yes. Stick with financial advisors and listen . Better the devil you know than the angel you don't.
You know there is some random dude who actually won the lottery watching this video for real help
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
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable 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..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
DON'T TELL NO ONE‼️ REAPEAT THIS STEP FOREVER.... GET A BUSINESS AND MULTIPLE THE BUSINESS....
DRESS NORMAL DON'T GO GET DESIGNER CLOTHES
NO EATING OUT‼️
NO TELL YOUR WIFE OR GF OR FRIENDS
DON'T GO GAMBLING
DON'T GO BUYING CRAZY THINGS
STAY HUMBLE
ACT LIKE YOU DON'T HAVE THE FUNDS
MULTIPLE THE BAG DONT SPEND IT
What kind of spouse do you have that you say, "Don't tell your wife"?
That sounds pretty pathetic to me. SMH
Spirit is telling me something- I’m opened and receptive to all of the universe’s blissings upon me and my family- may each of you be infinitely abundant in everything your heart desires💜🌀⚡️💫💲💲💰💸💵
cool pfp
When I get rich I won’t work another day..no more waking up at 330 AM anymore!!
You will but take some time off for sure
I sold my house and got a taste of money. You lose touch of the 9-5 pretty fast. You'll always need something "on the line" or you kinda rot away inside.
Famous last words that put many people on the street, homeless. "When I get rich" is a fallacy. The 'rich' have a high net worth, but the WEALTHY have MULTIPLE sources of income, to satisfy their daily needs and wants. Rich people NEVER get WEALTHY. PS First you get wealthy, then you get rich. 🙂
@@ThisOldMan-ya472 bro i'm not a native speaker and i always thought wealthy and rich meant the same thing. bro
@@GoodMorning-b2w Perhaps you can research it, as I might be wrong.
I've learnt two things from billionaires: to diversify your investments and to constantly put your money to work. This year, I hope to make money investing roughly $88k of my savings in equities.
That is accurate. In my opinion, diversifying one's investments is the best course of action because it can lessen the effects of a market collapse. Examples of diverse asset classes are bonds, real estate, and foreign equities.
That makes sense. I've been investing in stocks for two years, and I currently have a six-figure diversified portfolio thanks to my use of a financial market specialist. However, I want to broaden my horizons this year.
This year, I'm determined to see a financial counsellor, especially since the markets are all at record highs. I don't want to have unrealistic expectations and lose everything.
Sharon Ann Meny is the licensed advisor I use. Just search the name. You’d find necessary details to work with 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.
My father owner a bussiness for over 20 years and he was a dollar millonere in Turkey(net worth 15-20 mil). The way to lose money is not being able to adjust your spending mindset and thinking that money can be earned or replaced again. Today our family bussiness is bankrupt and I (22 year old male) couldn’t even finish collage because of financial incapbility and have around 5 million dollar debt passed on me.
The reason we went bankrupt was 2 simple mistakes.
1- Don’t rent it, own it.
2- Think about every dollar you spend because there is no such thing as a small amount.
3- At the end of every month, calculate how much you spent on what. Some of the things you do often which are small amounts will pile up and you’ll realise.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
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.
Could you possibly recommend a CFA you've consulted with?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.
#16 if you are not already married, DONT GET MARRIED!!!
Definitely don't get married! 😂😂😂
Thats #1 for me lol
Amen
I wouldn't go that far. Just don't tell them you are rich until you are married? Even if you do, don't forget to pre-nup.
Why not. The money made before marriage is not hers.
Rich = having so much money that you never need to work again.
That's wealthy.....not rich
@@joewebb9641indeed
Those are very different amounts depending on how dumb you are
He's right....that's wealth. Rich means you have money but most will just buy more expensive things. Wealth means your money works for you so you always have passive income paying your bills.
*I'm 52 already and i already have a portfolio good enough to take of myself and my grandkids😂.Trading comes with alot of benefits and i just bought my first house through it, as a beginner i was scared at first, but I'm glad i took a bold step that is favouring me now*
Congratulations you are really doing well at your age im 45 and my finance are in rally in mess right now and great tip will really go along way in shaping my life im open for idea
We already have zero debt, no kids and no family that we wouldn’t want to help financially, so guess what, I’m quitting my job, buying a nice car, and a house in a nicer area, taking an overseas holiday and then banking the rest to live off the interest. Life is too short to be stuck at a dead end job, live in a crappy neighbourhood and driving an unreliable car.
I used to think money was the route to happiness, then I had children and realised that the more money you have just makes you selfish and materialistic. I would never swap my two boys for a lottery win however much.
@@pincermovement72selfishness is in the heart...and you would have to already be a shallow person to be materialistic...give me the money. I'm not greedy so, I actually think it would benefit me in becoming a better me
You buying all those things would be like you telling everyone you're rich. At least sit on your money for 6 months and have a think.
@@Brakvash what’s the difference between now and 6 months, besides more money… we only have today so live it up and be happy
It is the LOVE of money that is the root to all evil. NOT money itself!
Money is just a tool. Be a good steward with your money.
Thank you! People always get this wrong
i do love money. but it's only love. i'm not a hoarder
This is a lie lol
ok give me your money so you dont become evil
Another is the growth strategy, focused on capital appreciation through high-risk, high-reward assets. Income-oriented strategies target regular income from dividend stocks or bonds. There's also the value strategy, seeking undervalued assets for potential long-term gains.
I think the safest strategy is to diversify. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
I will like to ask, how did you achieve it? I'm looking out for a better strategy, I have a lump sum that inflation is steady eating up.
Thanks a lot for this suggestion. I needed this myself
Thanks a lot for this suggestion. I needed this myself, I looked him up, and I have sent him an email. I hope he gets back to me soon.
is this a sign for 2025? 😅 I have been recommended videos like this today crazy 😂
After stepping away from my teaching career due to an accident, I discovered an exciting side gig. I teamed up with a grant writer who assists me in locating grants and funding opportunities that I can apply for. It feels incredible to access what feels like free money for both personal and business needs. The process is simple: I submit my applications and then wait to see if I'm approved. Recently, I was thrilled to learn that I was approved for a $500,000 grant, and to my astonishment, the funds were deposited into my account just yesterday. This video and the comments resonate with me deeply as I navigate this new experience, as I've never received anything like this before.
Wow 🎉 That’s hell of an idea about grants that you’ve got there and meanwhile I’m just here seeking loan or grants to get a truck for the past 12 weeks, I have submitted various applications but to no avail.
Where did you hire your grant writer?
Wow congratulations
Can you help me too? I want to venture into grants application especially governmental grants. How can I reach you?
Through grantdocks, I made proper research about them before working with them and I don’t regret doing that now.
Don’t let Starmer find out would be my first thought.
😂😂😂
Who is Starmer?
@@GrimReaver a traitor
because everyone knows who starmer is
@@thepotatoofheaven
I'm assuming you're not British?
watching just in case lol
Yep that's all of us
People never do the math. A million dollars will generate about $45,000 per year that's nog enough to live a comfortable life, but if you continue working that money will make life much more comfortable for the vast majority of people
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
I thought about investing in the real estate market, I heard that people make millions , but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $460,000 but it's hard to bite the bullet and do it. Money is hard to come by
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this?
Julia Hope Marble 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..
My 2 month old Ilc got approved for 180k in small business Grant program here in TN, I formed this IIc because this will protect my personal assets if my business struggles financially it also has a smaller tax and compliance than other structures. Unbelievable I could get grant funds this early. My grant writer assured me this. My company will be selling homemade artisan chocolates. With passion for chocolate and savvy planning, I am excited to make my artisan chocolate startup a sweet success! It will take dedication and hard work. Just like perfecting a chocolate truffle recipe, creating a thriving business takes experimentation and patience. I ready for this 💯. Grant money can take your business from nothing to something. I really appreciate the state of TN and my grant writer (Grantdocks) for matching me with the right people to connect with
Wow amazing and congrats 🎉 would you mind sharing more on the process I too have a small business and need funding.
Congrats 🎊
Is there a email or phone I can contact you? I'd like to ask more about the governmental grant.
Yes of course
@@HappinessNisa Yes
Instead of thinking about becoming a millionaire we should be teaching people fiscal responsibility. Live below your means, invest for retirement, have 3-6 month emergency fund, save for your children’s college, pay off your mortgage (unless interest if less than 4%). Only when you have met these requirements then take risks in the stock market.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
Begin investing in the stock market as early as possible, so your dividends have longer to compound. $100 a month can work, and even less per month, if that's all you can afford. But start now. Don't wait until you've paid everything off before you begin. Time is your friend if you start early enough and reinvest some of your dividends.
@Wlad-v2w Schwab is good, if you're in the US.
I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $$275k to $850K...
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 Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
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
Shutting up is the most important. The banks are financially unstable. Leaving the money in the bank, especially over the FDIC protection limit is risky. A lot of financial advisors are stuck in old fashion investments. For example if you had your wealth in low interest rate Treasury Bonds, they went down in value. That's why the banks got into trouble.
You said trust fund. Can I put myself in a trust fund? And just enjoy how much it earns say monthly?
Do I need to get a lawyer to setup a trust fund?
You can do that yeah. Do get yourself a CFP. An ACTUAL, QUALIFIED CFP in real life, and not all these scam threads mentioning names that is trying to take your money.
You want an attorney and a certified financial planner. Usually the best systems are set up with business entities and trust accounts so you become bulletproof to litigation, especially if people realize you have money.
Trusts are increasingly under scrutiny. Especially in Europe. It makes you an instant target. A tax exempt regular company structure blends in better.
I have 3 nephews whose father tragically passed leaving all three large sums of money. One bought a house and continued working and is leading a happy life. One blew through his money, buying cars, doing drugs and is now in prison. Not jail, PRISON. The third was diabetic, bought a house, quit his job, started doing meth and died in his sleep leaving behind a wife and 2 children.
Witnessing a birth of new ideas and perspectives is exhilarating. I've made better decision that is growing my finance (over $20k every week) keep the videos coming
Investing and trading now will be the wisest thing to do especially with the current economic fluctuation and inflations.
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are your strategies?
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Gillian Sara sheeran is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Same here all thanks to Gillian Sara sheeran, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.
I'm a bit perplexed seeing Gillian Sara Sheeran been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super
Great video. Im a huge Blcktken300 fan and love your videos on it.
You will miss a lot of good opportunities to make money online if you don’t have money.
You will miss like seriously but when you have a little token you can gain huge profits also.
Consistency and patience matters a lot when it comes to online trading and mining of coins.
If the rich tell the poor what it takes to become rich he rather choose to remain poor because it takes a lot of hard work and dedication.
If not Astrid Iwertz I would have lost all my savings in the hands of this fake account managers out there.
How can I get to her?
Unnecessary “okay” button >>>>>>
1:01 😂Baniyas from India have been doing this for ages - they don't let their children know that they have money. It is like it's inside my DNA 😅
Yeah that chomu darpok lulli baniya
Jo mare k kafan k b bech de
😂
03:31 It's always advisable to invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Marisa 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.
1.) Buy house in Japan.
2.) Eat healthy get fitter.
3.) Live happily ever after.
4.) Thank God and trade crypto.
I don't get this video it's simple for me.
Why Japan?
This keeps popping up in my feed … I’m all 👂🏾 now . I know it’s destined for me to be a multimillionaire
Thank you
I got rich buying and holding Nvidia stock. Borrowed and yolod everything i had into it and more. Not a smart move other than picking the right stock at the right time almost. Now i have diversifies some. I havent quit my part time job as i would get to bored....8 hours a day goofing off...i think wealth is overrated as i never really have been tempted to spend much. Spending stresses me out. Then again i like the idea of having "made it", and I feel pressured to become a lawyer or anything like that and i can work part time, and work because i want to which makes a difference. (Dont trust any spam financial adviser name dropping in the comment section/spam btw.)
What is your idea of “rich” and how much did you invest?
@@adventsociety5382 I don't know about rich, but richer than I was. 3 million from about a 120k investment.
@@adventsociety5382 I bought Nvidia when it was at 4 dollars, with about 100k.
can y’all stop abbreviating number as “nr.”? it’s so ugly. just use “no.”
Or #
“Nr” it’s a European abbreviation form for Number, equivalent to British “No”.
@@dealightful5745brexit?
0:57 really.....this channel has almost 5m subs, all these ppl thinking they gonna be billionaires lol.
I agree with all of them except not moving, it wouldn’t be wise to stay in a low income neighborhood with high crime if you run into money. For safety reasons move, especially if you win the Lottery and you’re in a state the requires you to be on the news (ex. Florida)
It said to get comfortable, not move into a wealthy neighborhood. You could move into a comfortable middle-class one.
Shirlest has such a unique perspective on Hidden Money Manifestation. I’ve been able to manifest opportunities I never thought possible.
there’s a show in South Africa dedicated to people making poor financial decisions. I think it was called “I blew it”. It’s like watching the same thing over and over. They all do the same mistakes 😂
😂 @ the title.
My aunt had a comfortable home and job, she decided to sell the house to start a business, but as she's never had such a large sum of money before she blew it all on the business (which she had no idea how to run). She was also always used to being in debt, so more money meant acquiring more debt (not clearing it). Now she's lost her home, car AND business. If you don't know how to manage your money having more of it won't solve your problems but exacerbate them, because the poor mentality still remains along with their spending habits, just on a larger scale. You have to respect money if you want to keep it, or you'll end up worse than before, I've heard the same story so many times.