I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
The first step to wealth creation, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m delighted I was able to hire a financial advisor named Natalie Lynn Fisk, earlier this year. Because while others were grumbling about the downturn in the financial markets due to the state of the economy, I was busy learning from her and eventually made over seven figures in the first quarter of the year.
That's great, your financial advisor must be really good, I have seen testimonies of people using the help of financial advisors in making them more financially stable. I just discovered her exceptional resume when I made a google search of her names online. I consider it a blessing that I discover this comment area!
The secret to being successful from an investing perspective is to have an indefatigable, undying and unquenchable thirst for information and knowledge. Invest with a certified financial coach and watch your financial status turn around for good. I've learnt so much having Natalie Lynn Fisk as my financial advisor, and i must say it's the best thing I’ve done.
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $900k over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor
*Camille Alicia Garcia* is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further.
I am 46 years old. I graduated college at age 23 in the year 2000. I always focused on reaching/contributing the annual 401k maximum....not a percentage of my income...my motivation was mainly to avoid taxes.....today I have $1.3 million in my 401k....even with the downturn of 2022.....it really is not that hard folks.....oh, my wife has even more than me in her 401k with the same strategy.....you owe it to yourself.....words from this "old" man.....
I would much rather invest in crypto, imagine all that money into bitcoin in 2009? You'd be a multi billionaire today, $378 billion as of today's price
@@lesliewilliams9072 For sure I would do the Roth. Roth 401k was not an option for me and I did not calculate future taxes until two years ago. My wife and I are going get KILLED by RMD in the future.
I would think no. Schwab (and anyone else) creates an index to try to represent an asset class, not to try to get high returns. Otherwise, the composition of the index might change every year. If you have a Schwab account, I suggest that you ask Schwab using their secure email channel. The rep that gets the email won't know, so you should ask that they ask the appropriate department. (Then let us know. 🙂)
Yes! The total amount of gains in Up days in the market is greater than the total amount of losses in Down days in the market. If you can get yourself into a situation in which you can ride out market downturns, staying in the market is like *owning* a casino.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@@alexanderdimitar7154 Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
@@gagnepaingilly Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
@@shirleneunglesbee1423 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "JILL MARIE CARROLL" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
I agree with a lot of whats said here, but i really struggle with the regular use of a 10% annual return used in calculations. Its just unrealistic when factoring in inflation, taxes, fees, and long term returns. Listen to Benjamin Felix, or just do some googling about rwcommended rates. A lot of banks and super annuation calcs. Recommend around 5% for example. If you're investing in diversified market indexes (as often suggested) you wont likely get a 10% return after all fees/tax/inflation etc. Its still worth doing, just 10% is unrealistic to assume.
Haha impeccable logic there mate. Not sure what knowing what your doing actually refers to here. Try reading some J L Collins for views on people "knowing what theyre doing". All im saying is i recommend people do some research before relying on numbers like those for their retirement future. An index might get 10%, yet proffessionals dont rely on 10%. That comes from a recent period of over exuberant returns from a freakishly good market over a relatively recent period. I just want to reiterate, i think investing is super worthwhile, but it would be great if people use this video as impeteus to do some more research of their own.
@@ChrisInvests and im honoured for your reply thanks. I think you do a great job generally, please keep it up. Sure you may have calculated to attempt to account for inflation, that doesn't make the figure correct. It would be great if you could cite your reference for that figure for example. I've never seen a banks retirement claculator or a superannuation fund for example recommend a 10% p. a. return. They use investment companies that rely on professionals who invest for a living so i think they are at least worth listening to. Like i say, love what your doing though.
@@metalmikenz I'm looking at an ETF with a 13+% average annual return over the last 35 years. Buffett has approximately double this 10% rate over 50 years. 10% seems like a lot for someone who doesn't understand how to manage their risk/reward
In the illustration that starts at 7:39, Chris forgot to mention three things: 1. The illustration assumes that you are increasing your contributions with inflation. (That is a perfectly reasonable assumption. If you can afford to invest $1000 per month now, and this year's rate of inflation is 3%, then you should be able to afford to invest $1030 per month next year, and so on, into the future. $1000 per month 25 years from now would be a lot less impactful that the inflation-adjusted amount.) 2. The Future Value of $1,167,054 is *NOT* in terms of the dollars of 30 years from now -- that value is the inflation-adjusted value. That is, the Future Value is shown in terms of *TODAY'S* dollars. 3. $1,167,000 could be reasonably expected to provide a starting income, that increases with inflation and which lasts for 30 years, of over $45,000 per year. Couple that income stream with an average Social Security Retirement Benefit (which increases with inflation) of over $20,000 per year in today's dollars, and one would have an income of over $65,000 per year (in today's dollars), which increases with inflation. It is a stream of unearned income that is enough to live on, will increase with inflation, and will last as long as you do. The technical term for someone in that situation is "financially independent."
Im 47, married, 4 kids. Buying a used 150k plus car sounds trite, but its a gamechanger for freedom. Buy a decent looking 10 yr old beater, polish it up, and drive it forever. It works
so many people want to get rich quick and that is how they stay poor. Just start putting $100 per month away in an index fund like the Vanguard 500 Index Fund, Fidelity 500 index fund or the S & P, and do that each month, every month from the time you are 18 until you are retirement age, say 62 and by the time you retire you will be a millionaire. just plug in the numbers yourself in an investment calculator and you will see for yourself.
Why would I want to wait 40-50 years for $1m when we have 20 year olds making that per month? That was the old way of living mate... this is the new economy
@@freedomring3022 I'm more into real estate right now, but yeah waiting 40 years for $1M when that will be worth around $300K by then is absolutely not the life I want to live🤣
I am 42 and have zero interest ring being g a millionaire they let money and power go to thwir heads to much no thanks just want saving again. That is all.
I'm looking for an online investment platform. I want to buy stocks for the longterm (not trading) and hopefully get enough to live off compound interest, but it's too complicated and I dont know what platform to trust.
How im doing it. Took a new job with a 150% increase. Got approved for 4 hours of OT a week. I take the OT money (10% of my normal income) and put it into the market automatically. Luckily employer has a 3% match, so im putting in my OT money, giving me 13% of my yearly income into the market while still increasing my usable funds. Once i get over 100k/yr ima start putting away 1k a week, into the SnP500. In the last 40 years (roughly) it's 76x. Straight gains.
@@shawnchristianson324 architecture. Was drafter. Right now project coordinator (which is the same thing but with more coordination). Next step up is project manager and most need to be an architect for this. Then principal architect with is a partner to the firm.
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs. Bonnie Antelo
She is really great at what she does with amazing skills, she changed my 0.1BTC to 2.1BTC within two weeks of trading, I am now fully confident that she is reliable.
I have traded with many individuals but I have never met anyone as good as Mrs. Bonnie Antelo, just by applying her strategies I now trade independently. she is the best i would advise any investment newbie to trade with her
Cutting that out will still have you investing for 30+ years to even get to $1m 😂 when we now have 20 year olds making that per month?? No thank you. There's always a limit to how much you can save but not on how much you can earn. If you can double your income you can keep your cars, coffee and weekly dinners while even saving more than before
Lol, well with average inflation money loses about half of its value in 25-35 years. So 1 million in todays dollars will equal about 500k today in 30 years, not great but not terrible. The average person it going to need about 2.5 million in 30 years to be somewhat comfortable.
Wrong. You have to go completely insane. You have to refuse invitations to save that $10 in gas for the round trip. You have to skip meals. It’s 100% worth it though.
Which is why the P/E ratio is so high now. The theory of mean reversion. High dividends, lower price; low dividends, higher price. The next decade in the stock market will not be great though only expected return is 1-5% (CAPE 10, reverse PE etc.), since the last decade was over 16%
Sadly very true. My relationships in my 20s and 30s kept me well in debt. And nothing to show for them other than the debt and depression. Stopped dating a little over 10 years ago and now I'm very financially secure.
I appreciate the knowledge you've provided, There’s this woman I got in touch with during the last economic recession which cost me my job. Ms. Norman Davis helped me manage my assets by introducing my to the best trading method, I earned a lot of $$$ working with Norman at the comfort of my home. I still keep in touch with the amazing lady
Switching your mindset can't make you wealthy. It's all dependent on your local economy. No matter how much you want to hustle and grind, if you're born into poverty in an impoverished nation then the odds are extremely stacked against you. Hell, they're stacked against you in a country like America too. You're way more likely to escape poverty in a country with a lower GINI coefficient AND a high GDP. In any case, capitalism doesn't meet the basic needs of the people and will always prioritize profits over people every single time.
I hope you are investing in a solid stonk! Even if it’s going down now you should be okay in the future. Automate it so you don’t have to see your “losses”. Then check up on it waaaaay later in the future.
@@AverageJoeDividends I started right at the post COVID highs. My portfolio is about 75% high growth S&P etf, the rest are growth stocks, heavy on tech and healthcare so yea I've been hammered.
Some steps I have taken is to drive my car long enough to pay off he loan and then save for the next car while still driving the first. My last two cars were purchased without a loan. While saving, the savings were invested. I buy stocks in a market crash and ride the recovery. Example during Covid, the price of crude oil crashed, a temporary condition. I invested in oil transportation stocks. Best performer was Western Midstream Partners. Purchased for under $6 per share. Due to the temporary condition the dividends were cut in half. Now the sector has recovered. The price with the recent market falling is down to just over $26 per share. More important is the return of the dividends. With the $2 annual dividend, the return on cost is over 1/3 of the cost or greater than 33% annual yield. Now buying the next car will be much easier. Just the dividends over 3 years returns my full invested amount, and the invested value is up 4 times the amount I invested. This is much better than paying interest on a car loan. There is no risk of a repossession for a car with no loan. Quarterly dividends in April was over $6,,000 on my investments. Invest wisely. Look for stocks that are down in price for a temporary reason. Buy low. If you bought the same stock I bought, remember you would be paying 4 times the price. Might want to do research for another stock on sale prices. Do your research. Don't forget to watch the market for events that may make prices fall and sell high. Example, I sold chipmaker stock in the tech bubble. The price went up on speculation, so I put it on a stop loss sale. It sold for over $60 per share. Today it is under $32 per share. Some people buy into bubbles as the price is going up. I sell those when the price stops rising and starts to fall. Buy undervalue stock and sell overvalue stock. Buying low can produce some great yield on cost.
Plant trees, do it regularly. You will be better off. You children more so. Your grandchildren will be extremely wealthy. $25 a month from birth to age 72 at 8% means you will be a multi-millionare. Very doable. Do the same for your children, means they will be double-digit millionaires.
Its easy for men, but as women we have so much upkeep. Lots of clothes, jewellry, and other expenses to keep up with our friends. We either need to find a rich bf or husband to maintain our lifestyle or get a high paying job, which is difficult in the patriarchy.
Your logic is incorrect, men also have an upkeep, so men don't buy clothes or have other expensive hobbies? Both genders have a different upkeeps so not sure what you on about
Women are getting college degrees at a much higher rate now than males. Your clothes and jewelry are personal choices. The gender pay gap was also debunked in a Harvard study. It said that the pay gap is entirely based upon job choice and not gender.
I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
The first step to wealth creation, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m delighted I was able to hire a financial advisor named Natalie Lynn Fisk, earlier this year. Because while others were grumbling about the downturn in the financial markets due to the state of the economy, I was busy learning from her and eventually made over seven figures in the first quarter of the year.
That's great, your financial advisor must be really good, I have seen testimonies of people using the help of financial advisors in making them more financially stable. I just discovered her exceptional resume when I made a google search of her names online. I consider it a blessing that I discover this comment area!
The secret to being successful from an investing perspective is to have an indefatigable, undying and unquenchable thirst for information and knowledge. Invest with a certified financial coach and watch your financial status turn around for good. I've learnt so much having Natalie Lynn Fisk as my financial advisor, and i must say it's the best thing I’ve done.
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $900k over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor
@@ThomasChai05 I’m intrigued by your experience. Could you possibly recommend a trustworthy coach you've consulted with?
*Camille Alicia Garcia* is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I am 46 years old. I graduated college at age 23 in the year 2000. I always focused on reaching/contributing the annual 401k maximum....not a percentage of my income...my motivation was mainly to avoid taxes.....today I have $1.3 million in my 401k....even with the downturn of 2022.....it really is not that hard folks.....oh, my wife has even more than me in her 401k with the same strategy.....you owe it to yourself.....words from this "old" man.....
I would much rather invest in crypto, imagine all that money into bitcoin in 2009? You'd be a multi billionaire today, $378 billion as of today's price
@@yendothegamer9880 lol, that's only if you guessed right
@@yendothegamer9880 hindsight... the 401k is more safer route
Do you also recommend investing in a Roth to mitigate tax risk?
@@lesliewilliams9072 For sure I would do the Roth. Roth 401k was not an option for me and I did not calculate future taxes until two years ago. My wife and I are going get KILLED by RMD in the future.
Nice Video, man
QUESTION: Do you know if SCHD replaces companies that are not performing well with better alternative companies like in the S&P500?
I would think so but I'm not sure. Thanks for watching.
I would think no. Schwab (and anyone else) creates an index to try to represent an asset class, not to try to get high returns. Otherwise, the composition of the index might change every year.
If you have a Schwab account, I suggest that you ask Schwab using their secure email channel. The rep that gets the email won't know, so you should ask that they ask the appropriate department. (Then let us know. 🙂)
Facts!! Time in the market and compounding interest I creates wealth.
Yes! The total amount of gains in Up days in the market is greater than the total amount of losses in Down days in the market. If you can get yourself into a situation in which you can ride out market downturns, staying in the market is like *owning* a casino.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@@alexanderdimitar7154 Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
@@gagnepaingilly Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
@@shirleneunglesbee1423 I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "JILL MARIE CARROLL" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
@@gagnepaingilly I just checked her out and I have sent her an email. I hope she gets back to me soon.
I agree with a lot of whats said here, but i really struggle with the regular use of a 10% annual return used in calculations. Its just unrealistic when factoring in inflation, taxes, fees, and long term returns. Listen to Benjamin Felix, or just do some googling about rwcommended rates. A lot of banks and super annuation calcs. Recommend around 5% for example. If you're investing in diversified market indexes (as often suggested) you wont likely get a 10% return after all fees/tax/inflation etc. Its still worth doing, just 10% is unrealistic to assume.
The calculations accounted for inflation
It's only unrealistic if you don't know what you're doing
Haha impeccable logic there mate. Not sure what knowing what your doing actually refers to here. Try reading some J L Collins for views on people "knowing what theyre doing". All im saying is i recommend people do some research before relying on numbers like those for their retirement future. An index might get 10%, yet proffessionals dont rely on 10%. That comes from a recent period of over exuberant returns from a freakishly good market over a relatively recent period. I just want to reiterate, i think investing is super worthwhile, but it would be great if people use this video as impeteus to do some more research of their own.
@@ChrisInvests and im honoured for your reply thanks. I think you do a great job generally, please keep it up. Sure you may have calculated to attempt to account for inflation, that doesn't make the figure correct. It would be great if you could cite your reference for that figure for example. I've never seen a banks retirement claculator or a superannuation fund for example recommend a 10% p. a. return. They use investment companies that rely on professionals who invest for a living so i think they are at least worth listening to. Like i say, love what your doing though.
@@metalmikenz I'm looking at an ETF with a 13+% average annual return over the last 35 years. Buffett has approximately double this 10% rate over 50 years. 10% seems like a lot for someone who doesn't understand how to manage their risk/reward
Love how the drawing are simple and easy it to understand in all your video thank you Chris !
Glad you like them! Thanks for watching 😀
In the illustration that starts at 7:39, Chris forgot to mention three things:
1. The illustration assumes that you are increasing your contributions with inflation. (That is a perfectly reasonable assumption. If you can afford to invest $1000 per month now, and this year's rate of inflation is 3%, then you should be able to afford to invest $1030 per month next year, and so on, into the future. $1000 per month 25 years from now would be a lot less impactful that the inflation-adjusted amount.)
2. The Future Value of $1,167,054 is *NOT* in terms of the dollars of 30 years from now -- that value is the inflation-adjusted value. That is, the Future Value is shown in terms of *TODAY'S* dollars.
3. $1,167,000 could be reasonably expected to provide a starting income, that increases with inflation and which lasts for 30 years, of over $45,000 per year. Couple that income stream with an average Social Security Retirement Benefit (which increases with inflation) of over $20,000 per year in today's dollars, and one would have an income of over $65,000 per year (in today's dollars), which increases with inflation. It is a stream of unearned income that is enough to live on, will increase with inflation, and will last as long as you do. The technical term for someone in that situation is "financially independent."
This comment was a waste of your time
Im 47, married, 4 kids. Buying a used 150k plus car sounds trite, but its a gamechanger for freedom. Buy a decent looking 10 yr old beater, polish it up, and drive it forever. It works
so many people want to get rich quick and that is how they stay poor. Just start putting $100 per month away in an index fund like the Vanguard 500 Index Fund, Fidelity 500 index fund or the S & P, and do that each month, every month from the time you are 18 until you are retirement age, say 62 and by the time you retire you will be a millionaire. just plug in the numbers yourself in an investment calculator and you will see for yourself.
Why would I want to wait 40-50 years for $1m when we have 20 year olds making that per month? That was the old way of living mate... this is the new economy
@@oslotismcboom6733 LMAO!! ok, go have at it
@@freedomring3022 I'm more into real estate right now, but yeah waiting 40 years for $1M when that will be worth around $300K by then is absolutely not the life I want to live🤣
I am 42 and have zero interest ring being g a millionaire they let money and power go to thwir heads to much no thanks just want saving again. That is all.
@@tracyabernathy4591 turn off CNN. Your world view is distorted.
I'm looking for an online investment platform. I want to buy stocks for the longterm (not trading) and hopefully get enough to live off compound interest, but it's too complicated and I dont know what platform to trust.
M1 finance is really good and they have premade investment pies u can use. It auto invests ur money it’s so simple. I recommend watching a video on it
How im doing it.
Took a new job with a 150% increase. Got approved for 4 hours of OT a week. I take the OT money (10% of my normal income) and put it into the market automatically.
Luckily employer has a 3% match, so im putting in my OT money, giving me 13% of my yearly income into the market while still increasing my usable funds.
Once i get over 100k/yr ima start putting away 1k a week, into the SnP500. In the last 40 years (roughly) it's 76x. Straight gains.
What job?
@@shawnchristianson324 architecture. Was drafter. Right now project coordinator (which is the same thing but with more coordination). Next step up is project manager and most need to be an architect for this. Then principal architect with is a partner to the firm.
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs. Bonnie Antelo
She is really great at what she does with amazing skills, she changed my 0.1BTC to 2.1BTC within two weeks of trading, I am now fully confident that she is reliable.
You can communicate with her by telegrm with the username below...
INVESTWITHANTELO💯
I have traded with many individuals but I have never met anyone as good as Mrs. Bonnie Antelo, just by applying her strategies I now trade independently. she is the best i would advise any investment newbie to trade with her
May you give examples of Which s&p 500 stocks to get on robinhood
SPY and VOO are two popular S&P 500 ETFs
Thank you
Berkshire stock buy steady for life 👍 thank me in 40 years
@@Ink30 thank you
Find a wife that's not addicted to spending money, and puts image above sanity..
Quit buying new cars, $5 drinks and $20 dinners.
Cutting that out will still have you investing for 30+ years to even get to $1m 😂 when we now have 20 year olds making that per month?? No thank you. There's always a limit to how much you can save but not on how much you can earn. If you can double your income you can keep your cars, coffee and weekly dinners while even saving more than before
good advice thanks
Great video .wise man
$1,000,000 in 30 years for my retirement will be just enough to buy a chocolate bar
😂
The alternative is having nothing... you don't have $1m now and probably won't ever have it with that mindset
Lol, well with average inflation money loses about half of its value in 25-35 years. So 1 million in todays dollars will equal about 500k today in 30 years, not great but not terrible. The average person it going to need about 2.5 million in 30 years to be somewhat comfortable.
I have £20,000 ($24735.10) saved in a tub in bedroom.
What should I do with it?
First of all. What is "rich"?
Different for everyone, my definition is 10 million + in the bank
Wrong. You have to go completely insane. You have to refuse invitations to save that $10 in gas for the round trip. You have to skip meals. It’s 100% worth it though.
😂
I think the SP 500 go flat for the next 20 years. The dividend rate is to low.
Interesting
Garbage take.
Source: trust me bro
Which is why the P/E ratio is so high now. The theory of mean reversion. High dividends, lower price; low dividends, higher price. The next decade in the stock market will not be great though only expected return is 1-5% (CAPE 10, reverse PE etc.), since the last decade was over 16%
I find if you don't get married you save a LOT of MONEY.
Step 1 Stay Single fellas.
Sadly very true. My relationships in my 20s and 30s kept me well in debt. And nothing to show for them other than the debt and depression. Stopped dating a little over 10 years ago and now I'm very financially secure.
Cannot agree more😅
Also, never have kids. Kids are stupidly expensive.
Oh.. you probably encountered only gold diggers. There are good ladies out there that are not like that. Wishing you to find a person like that.
I'm married for 28 years with 4 kids. My wife is a huge blessing to me, and a great part of my success. She's awesome
Is it better to invest my money in just S&P 500 or should I do 3 Fund Portfolio?
That's personal preference I guess
The rapid hand thing is really annoying.
Sorry you don't like the channel
Buy and hold low-cost Vanguard index funds. Your future self wishes to give you a big hug!
I appreciate the knowledge you've provided, There’s this woman I got in touch with during the last economic recession which cost me my job. Ms. Norman Davis helped me manage my assets by introducing my to the best trading method, I earned a lot of $$$ working with Norman at the comfort of my home. I still keep in touch with the amazing lady
Stay single.
Your pockets will jingle.
Switching your mindset can't make you wealthy. It's all dependent on your local economy. No matter how much you want to hustle and grind, if you're born into poverty in an impoverished nation then the odds are extremely stacked against you. Hell, they're stacked against you in a country like America too. You're way more likely to escape poverty in a country with a lower GINI coefficient AND a high GDP. In any case, capitalism doesn't meet the basic needs of the people and will always prioritize profits over people every single time.
4Head just get rich bruh xD
Well I started investing 3yrs ago and all I know is compound losses.
What are you investing in? Investing into a dropping stock market is what you want as a new investor.
I hope you are investing in a solid stonk! Even if it’s going down now you should be okay in the future. Automate it so you don’t have to see your “losses”. Then check up on it waaaaay later in the future.
Same here, for the last 5 years I’ve put money in, lost over 10k, I guess it’ll increase in the future
@@AverageJoeDividends I started right at the post COVID highs. My portfolio is about 75% high growth S&P etf, the rest are growth stocks, heavy on tech and healthcare so yea I've been hammered.
You haven't loss anything if you haven't sold yet. Keep investing, especially if you're 25 to 30 years away from retirement.
I have too comment no it is not if that was true there would be hardly no poor people.
Some steps I have taken is to drive my car long enough to pay off he loan and then save for the next car while still driving the first. My last two cars were purchased without a loan. While saving, the savings were invested. I buy stocks in a market crash and ride the recovery. Example during Covid, the price of crude oil crashed, a temporary condition. I invested in oil transportation stocks. Best performer was Western Midstream Partners. Purchased for under $6 per share. Due to the temporary condition the dividends were cut in half. Now the sector has recovered. The price with the recent market falling is down to just over $26 per share. More important is the return of the dividends. With the $2 annual dividend, the return on cost is over 1/3 of the cost or greater than 33% annual yield. Now buying the next car will be much easier. Just the dividends over 3 years returns my full invested amount, and the invested value is up 4 times the amount I invested. This is much better than paying interest on a car loan. There is no risk of a repossession for a car with no loan. Quarterly dividends in April was over $6,,000 on my investments. Invest wisely. Look for stocks that are down in price for a temporary reason. Buy low. If you bought the same stock I bought, remember you would be paying 4 times the price. Might want to do research for another stock on sale prices. Do your research.
Don't forget to watch the market for events that may make prices fall and sell high. Example, I sold chipmaker stock in the tech bubble. The price went up on speculation, so I put it on a stop loss sale. It sold for over $60 per share. Today it is under $32 per share. Some people buy into bubbles as the price is going up. I sell those when the price stops rising and starts to fall.
Buy undervalue stock and sell overvalue stock. Buying low can produce some great yield on cost.
This is natural if you're an introvert with mental issues.
Why you need one million after 30 years when you old and grumpy, you need while you young
You'll be less grumpy if you have some money & you won't be a burden to others.
L. Didnt work
@_youtuber_29 Brother in case you are not a bot , and just a simple scammer do something better in your miserable life
Plant trees, do it regularly. You will be better off. You children more so. Your grandchildren will be extremely wealthy.
$25 a month from birth to age 72 at 8% means you will be a multi-millionare. Very doable.
Do the same for your children, means they will be double-digit millionaires.
Its easy for men, but as women we have so much upkeep. Lots of clothes, jewellry, and other expenses to keep up with our friends. We either need to find a rich bf or husband to maintain our lifestyle or get a high paying job, which is difficult in the patriarchy.
Lmfao Pauline Becomes a Cum Bucket - Episode 1.
Your logic is incorrect, men also have an upkeep, so men don't buy clothes or have other expensive hobbies? Both genders have a different upkeeps so not sure what you on about
Good bait
Women are getting college degrees at a much higher rate now than males. Your clothes and jewelry are personal choices. The gender pay gap was also debunked in a Harvard study. It said that the pay gap is entirely based upon job choice and not gender.
How did the patriarchy even get into this? 😑