1. Accelerating knowledge (invest time, effort and money) 2. Milestone memories 3. Golden triangle of health (sleep, nutrition and movement) 4. Tools that have a diminishing return 5. Safety & security (e.g. insurance) 6. Hiring professionals 7. Retirement savings
We didn’t have a wedding because, aside from being introverts, preps also cost a lot of time and energy - a lot of effort for just one day of your life. So instead, we took multiple vacations and made multiple lasting memories. And we still had a lot left to pay for the downpayment of a house.
also, no point inviting a sh*t load of people we barely know. Coworkers of friends, and friends of coworkers, high school friends of the wife and the devil's grandmother.
Sad story about this. Had a friend's sister who was on birth control. Her mom wouldn't take her to get a prescription refill because she was hyper religious and didn't agree with it. The girl then went to an online doctor who prescribed her with cheap stuff (somehow without parental consent). She collapsed at school due a blood clot in her lungs, fell into a coma, and eventually died... almost $2 million in hospital bills later. DONT SKIMP ON BIRTH CONTROL OR DOCTOR.
@@procyon.lotor4was she a smoker? It’s not a matter of cheap birth control. Blood clots are a known side effect of artificial birth control. Risk is increased by smoking. Natural Family Planning is free and has no negative health effects.
@JewelBlueIbanez no, but she used an online doctor so that's more what I'm getting at. Don't use sketchy doctors that prescribed sketchy meds. It was one from an Instagram ad.
I don’t skimp out on a good pair of shoes that I’ll wear everyday or hiking boots! I bought a $150 pair of sneakers 3 months ago that I wear all day everyday. I wear them for work because I have a very active job where I need to jump, run, climb etc and I wear them for my gym classes in the evenings. Owned them for 3 months and barely any wear and tear yet. The $10 shoes I used to buy would only last me a month! The new ones also support my feet so much better than cheap ones. The hiking boots I have, I bought them 4 years ago for $200 and they’ve saved me from sprained/twisted ankles so many times. Good shoes I reckon is a good investment for your health and well-being.
I always celebrate my birthdays in a big way. It doesn't mean I splurge money on useless things, I do adventurous stuff to remember the day more. My birthday was a few weeks ago and I went for shark diving; the previous year, I did the Sydney Harbour bridge climbing. These memories will stay with me for life!
Lasting memories also means going on vacations. It can be a meaningful weekend, long weekends that allow extra travelling time.. Even the occasional short workday that leaves room for an exceptional work-week activity.
I 100% agree with your 7 Nischa - thank you. I would like to add an 8th, more important than all of your 7 added together. Personal friendships, be it your partner, family and friends. One biggest regret of end of life people is letting old friendships evaporate over time. Life is just miserable spent alone. This is a real life investment. Keep the vids coming
Agree. Time is the most valuable commodity. The journey to achievements creates the memories and self esteem. Get the balance right and money will follow.
As an ICU nurse seeing unexpected deaths of seemingly "healthy" and average people, this is so true. Find the sweet spot. Don't focus entirely on saving for the future!
We had a gorgeous, big wedding and I would do it again. I cherish those memories seeing my grandma dance, laugh and pray amongst all of our loved ones in one room despite battling dementia. She's no longer here with us but I have that happy memory with me for the rest of my life. This is priceless.
Hi Nischa, love your content, it's so inspiring and helpful. Any sound advice for a person to start saving/investing money after losing most of their savings be it in investment or any other life situations? Thank you!
Absolutely agree on the importance of investing in milestone memories and personal growth! Prioritizing experiences and quality relationships over material possessions truly leads to a more fulfilling life. 🌟
- Accelerating Knowledge - Milestone memories - The Golden Triangle of Health - Tools with Diminishing returns - Safety and Security - Hiring Professionals - Retirement Savings
I don't scrimp on hotels when traveling. I used to be a Motel 6 kinda guy, but that extra 40-50 dollars makes up for it with the quality of sleep you are able to get
Other things I have learned not to skimp on: Toilet paper Coffee Any brown sauce other than HP Cheap trainers (running shoes/sneakers, etc) Arguably not as important as Nischa's advice to be sure, but trust me 😁
Never skimp on footwear. After cheaping out on a new pair of shoes for work, I learned that the dull (and sometimes sharp) discomfort in your feet by the end of the day is enough to spend more on something that will be comfortable and durable in the long run.
Your maturing is obvious in this video. You will continue to mature as time goes on. Some are better than others. IMO, you are a role model of a 'successful person', in many regards. You have a unique ability to motivate others. Nice to meet you!
Here are the key takeaways from the video "7 Things You Should NEVER Skimp On": 1. Accelerating knowledge - Invest in gaining knowledge and skills, whether through books, apps, classes or tutors. Paying for expertise can accelerate your growth. 2. Milestone memories - Spend money to celebrate and create lasting memories for major milestones like birthdays, weddings, graduations. These memories are invaluable. 3. Health trifecta - Don't skimp on sleep, nutrition and movement/exercise as they vastly improve all areas of life. 4. Upgrade tools - As you grow, invest in better tools to support your progress when basic tools are no longer sufficient. 5. Safety and security - Pay for insurance, safekeeping of valuables etc. The peace of mind is priceless. 6. Hire professionals - Hire experts in fields like law, taxes, training as their knowledge saves time and money long-term. 7. Retirement savings - Start investing for retirement early to leverage compound growth over time. Pay yourself first. The overarching message is to thoughtfully invest in personal growth, health, asset protection and compounding for the future - as the long-term benefits far outweigh any short-term savings.
Weddings are stupidly expensive, when you take into account of honeymoon and couples also wanting to purchase a house together around the same time, upscale weddings especially abroad are not worth it IMHO.
Belated Happy Birthday! Totally agree with everything you have said in today's video except may be milestone memories. I prefer to keep that small. I usually gain knowledge when I join classes. I can never buy a book and read it on my own as I lose the motivation to read after the first couple of days. Using a real estate agent when buying or selling property, using an accountant when taxes get complicated, gym membership, living somewhat close to work (paying high rent, high property price) so that commuting to work is not stressful, buying high quality items for everyday use such as clothes, shoes, furniture and appliances are some of the things that I have done. The only regret that I have is not saving for retirement seriously in my 20s and 30s.
Just wanna say I appreciate the insight as well as the wonderful graphics overlayed on top of the video to drive the points home visually. Appreciate what you do - keep it up😊
6:00 a raid 1 mirrored NAS for your important data. If one drive fails, no problem, swap in a new drive, the array rebuilds itself, no data loss. So many people go through life with a single hard drive point of failure and suffer the consequences when it fails
These suggestions all seem to be given with the presumption that the recipient of this advice has some extra, or discretionary, income. What would your recommendations be for someone who is living on less than $22,000 U.S. dollars per year, and can barely pay the expenses of minimal "survival mode" life? I mean, for someone who has to buy their shoes used at thrift stores, or has the electricity shut off from time to time, some of these recommendations seem quite extravagant.
I'm not sure if the method you gave for assessing your insurance needs wouldn't actually work against you. There's a cognitive bias described by Daniel Kahneman in his book "Thinking, Fast and Slow" that we tend to think that certain things are more likely to happen the easier it is to come up with examples of it happening. Also, he found out in his research that people often tend to overestimate marginal risks. More, we are willing to pay more to have as you said peace of mind, to be sure that we're 100% covered, even if the chances are really low. And insurance companies thrive on this. So I think it might be better to actually look up statistics and then based on that and your individual situation decide whether it's a good idea to get insured on something, rather than making a purely emotional decision. Didn't want to criticize on what you said, just wanted to add this insight, as it was bewildering for me to learn, how easy it is to fall for these fallacies, how many different cognitive biases there are, and the impact they have on our decisions.
As someone who lost their wife to breast cancer I can say that the only thing i cherish from our wedding is our time together on that day. All the friends and family were great, but not important in “the end”. And in the end, our small wedding of 100 people could have been just us on a beach with a couple of witnesses. As Dr. Seuss said “You never know that value of a moment until it becomes a memory”. So yes, spend the money on vacations and on quality time together!!
Wedding still a waste of money to me , you will have people the you love around you with or without it... have small ceremony and with the money you save put it in your honeymoon there is will go all out with my husband
Just enjoy every day, for tomorrow is not a guarantee , for sure plan for the future but don’t ever forget to take time an look around at the moment you are going through now. Happy belated birthday 💐🍾 till next time
Agree on all except for the wedding. You don't need to spend a ton of money to get everyone together. Overall it's a waste imo unless you're truly rich.
Usually agree with almost everything you say, but I disagree on the safety and security one. I don't think it's about just thinking how you would feel of the worst we're to happen (because if you follow that logic to the conclusion you would just spend like crazy on all kinds of insurance type products), it's about weighing the cost, probability and how you feel. Unless you are likely to have an emotional reaction to something then if you can comfortably afford to do so, generally it's best to self insure. Why let the insurer capture that margin?
When it comes to a wedding just rent a field or venue and have a party ,don't mention its for a wedding and celebrate and just go to a registery etc... so much cheaper
I purchased term life insurance, 20 years, but I do not have a family, so, many people ask me "Why did you buy it? Why do you care what happens after you die?" It's hard to explain why. I just do not want my death go to waste. My extended family would benefit. If I do not die and I live a long life, I'm the big winner!
Also another way to look at retirement savings is setting up a taxable account to hedge against job loss or soft lay offs. They happen SO often in the USA you need your fu money, your retirement accounts can double as your fu money giving you extra time to find the right job or find opportunities rather than having to get some job RIGHT NOW.
Would a new car be considered under safety and security? I kept an old Volvo rather than upgrading to a new car and had the car stall out on the freeway. I was terrified I was going to die all to save money I had on a new car. I cringe at financial experts saying a used 10+-year-old car that costs 8K in the US is a safe option. My old Volvo was worth 12K and it wasn't safe to drive. No old, unsafe cars for me.
Isn't it strange how people knowing absolutely everything about investing and money make the very same decisions that anyone else knowing absolutely nothing about investments and money would do? After a while on RUclips being successful enough they usually upgrade their microphone or camera. 🤔 Maybe it simply all comes down to luck. Be lucky!
Nobody works hard . Everybody works only ,some people don't understand their work so they mismanage their work & call it hard work or satisfy their mind by saying so.
Wedding is basically spending money for others happiness. It's a huge waste of money. I would rather spend that money on a honeymoon. However, totally agree with sending money on mental and physical health and wellbeing.
I am often baffled by how unobvious these things are to other people. I live in a cottage in Scotland with a career in London -- you wouldn't know to look at me if I were rich or poor. Live like Bilbo Baggins -- richest man in town with a nice home, but understated, doesn't look flashy or unattainable. And gets in plenty of adventure in retirement,
Some people are naturally good at something. For example at speaking some are natural speakers: have you seen that some babies are very fluent at speaking at 10 months, I saw that with baby girls and others mostly boys are not speaking by the age 3-4 years when they go at kinder garden. Some people are born with high visual capabilities while others struggle really hard. Some people are naturally good at orientation in space, like boys and others like most of women really struggle hard and have bad results. There are some natural tendencies and you notice them on people when they have less than 4 years.
I don't think the issue with retirement is about waiting that long but about how our governments steal a good portion of it, considering they keep bumping the age of retirement and you get penalized heavily for taking that money out early even 5 years before the date. And also that once you die (say by accident earlier in life) it's not like those funds are going to even pay for your funeral or pass it down to family.
Thanks for the wonderful advice! I never thought about paying to for example to promote a video or 2 on my channel to get views, I thought naturally some were going to go viral but it helped simply helping people find some of my vids and although just started 2-3 months ago posting vids, I'm already at 170 subscribers = ). SO yes, invest a little for some return!
I was very cynical about the wedding, but we also came to conclusion that it would be the only time ever that all our friends and family would be in the same place. That was the priority. BUT, we also saved a lot of money by getting a civil wedding and getting married in the community centre of my father in law's village and getting a decent price on catering from the local restaurant. I hired the tux. Focus on people and fun and not on very expensive one-off self indulgent whims...
I agree with you, we have a saying: we are toooooo poor to buy cheap things. That is why all my tools are expensive and last me decades. Every piece of tech in my house is long lasting, no subsription based stuff. Yes, I do have a YT Premium and a Tidal HIFI subscrition and it is enough. I never spend more than $200 on a phone and never felt the need to do it. But my Internet router is $600 and it does things easy to automate my house. Do I have piece of mind? Not really, I always look into more tech and knowledge but I never regret spending on something, when I do.
Every piece of tech you buy today for $500, you can buy tomorrow cheaper and better for only $200. They should not last for decades as they become obsolete in 2-3 years. I never buy expensive tech. I do not want to pay for R&D + branding. But I always buy stainless steel tools if there's such option.
@@JewelBlueIbanez I payed 88 bucks for lunch for 2 people today …..unless u get married in the backyard you are going to be paying a lot in the USA . 🙁🙁🙁🙁🙁
I invested in a girlfriend in 2021 😂, also sometimes between me and the ground 🤐, but not good for my back, so happily single again in 2024, no offence intended by this post 😉
@nischa - Were you in Antalya a few weeks ago? I think I may have seen you walk by with your friends and nearly slipped but you kept it together haha. It was near Hadrian's gate. I was going to ask if it was you infact, but felt it could go completely wrong haha!
actually its just revelation of time running out and then u suddenly see: u will die in next few years, and want to live peacefully without any burden/ that moment, and the next all changes and modifications u do. is u CHANGED/UPGRADED FOREVER
Shoes, skincare, quality clothes, special occasions(i.e Birthday), holidays, a good camera + lens (you'll see the difference), brokers & stock market analysts (no cowboys), pension providers, your children's education, bed and mattress, car tyres (no second hand jobs).
![FendiDa Rappa - Clock Dat ft. Shamar Marco [Official Music Video]](http://i.ytimg.com/vi/3NBU8KHdxYY/mqdefault.jpg)
Watch my FREE Masterclass 'Four-Step Routine to Financial Freedom' nischa.me/wealthmasterclass
It doesn't allowed to register, make it easy to register
Never skip the opportunity to spend quality time with your children - they grow up so fast and before you know it they are ready to fly the nest 😊
This
Very true
What's the point of having kids if they're just gonna fly away and forget you?
@@jollyjames30?? They’re saying ready to move out and live adult lives. That doesn’t mean forgetting you.
True 💯
1. Accelerating knowledge (invest time, effort and money)
2. Milestone memories
3. Golden triangle of health (sleep, nutrition and movement)
4. Tools that have a diminishing return
5. Safety & security (e.g. insurance)
6. Hiring professionals
7. Retirement savings
Cool user name
We didn’t have a wedding because, aside from being introverts, preps also cost a lot of time and energy - a lot of effort for just one day of your life. So instead, we took multiple vacations and made multiple lasting memories. And we still had a lot left to pay for the downpayment of a house.
That’s great
That is wise, and smart! 👌🏼
also, no point inviting a sh*t load of people we barely know. Coworkers of friends, and friends of coworkers, high school friends of the wife and the devil's grandmother.
I’m really scared or rather, incredibly uncomfortable outside and in weddings especially…don’t know how I’ll get married💀💀💀
exactly, a wedding isn't like a small birthday party. people I know have taken out huge loans just for the wedding. weddings are the biggest rip off
it's kinda crazy how nobody's talking about the forbidden ebook called Secret Pathway to Triumph
Agree. In terms of physical items I would add shoes and mattress - always worth paying for better quality.
I would add a good bicycle, will make you want to go out and will benefit your overall health, especially in the long run
Birth control.....do NOT skimp on birth control.
LMAO 😂😂
Sad story about this. Had a friend's sister who was on birth control. Her mom wouldn't take her to get a prescription refill because she was hyper religious and didn't agree with it. The girl then went to an online doctor who prescribed her with cheap stuff (somehow without parental consent). She collapsed at school due a blood clot in her lungs, fell into a coma, and eventually died... almost $2 million in hospital bills later. DONT SKIMP ON BIRTH CONTROL OR DOCTOR.
@@procyon.lotor4was she a smoker? It’s not a matter of cheap birth control. Blood clots are a known side effect of artificial birth control. Risk is increased by smoking. Natural Family Planning is free and has no negative health effects.
@JewelBlueIbanez no, but she used an online doctor so that's more what I'm getting at. Don't use sketchy doctors that prescribed sketchy meds. It was one from an Instagram ad.
Vote blue or republicans are going to ban birth control. 🗳️🗳️🗳️🗳️🗳️
A comfortable bed and a quality pair of shoes......because you're always in one or the other!
Me, hanging out barefoot at a beach;
Nope.
shoes are crap. Your feet need freedom
@@shto4782 Grow a pair!
I'm without shoes more and more... feels much healthier and freer. 😊
Ah yes, knowledge that is from the far distant past, before sofas evolved
I don’t skimp out on a good pair of shoes that I’ll wear everyday or hiking boots! I bought a $150 pair of sneakers 3 months ago that I wear all day everyday. I wear them for work because I have a very active job where I need to jump, run, climb etc and I wear them for my gym classes in the evenings. Owned them for 3 months and barely any wear and tear yet. The $10 shoes I used to buy would only last me a month! The new ones also support my feet so much better than cheap ones. The hiking boots I have, I bought them 4 years ago for $200 and they’ve saved me from sprained/twisted ankles so many times. Good shoes I reckon is a good investment for your health and well-being.
Yes, I bought blundstones and they have been wonderful
wait for stuff like that to go on sale.
then buy.
@@agfagaevart the sneakers and boots were on sale when I bought them
Live your life.....stop listening to podcasters and social media who act like they know the answers to life
We love glamorizing effortless success, but success is never effortless. This shit is inspiring!!!
genious sentence!
Your shit words are also inspiring. 😅
She’s about to get married.
😂
😂😂😂
Lucky guy.
I always celebrate my birthdays in a big way. It doesn't mean I splurge money on useless things, I do adventurous stuff to remember the day more. My birthday was a few weeks ago and I went for shark diving; the previous year, I did the Sydney Harbour bridge climbing. These memories will stay with me for life!
Lasting memories also means going on vacations. It can be a meaningful weekend, long weekends that allow extra travelling time.. Even the occasional short workday that leaves room for an exceptional work-week activity.
I love this!
I 100% agree with your 7 Nischa - thank you. I would like to add an 8th, more important than all of your 7 added together. Personal friendships, be it your partner, family and friends. One biggest regret of end of life people is letting old friendships evaporate over time. Life is just miserable spent alone. This is a real life investment. Keep the vids coming
Agree - keep great relationships until our hair is gray ❤
find balance between investing and enjoying life. you never know when will your last day.
Yes, that's true.
Agree. Time is the most valuable commodity. The journey to achievements creates the memories and self esteem. Get the balance right and money will follow.
As an ICU nurse seeing unexpected deaths of seemingly "healthy" and average people, this is so true. Find the sweet spot. Don't focus entirely on saving for the future!
Time wealthy is better than finaxlially wealthy
Far to many very wealthy people spend far to much of their life “ working “
We had a gorgeous, big wedding and I would do it again. I cherish those memories seeing my grandma dance, laugh and pray amongst all of our loved ones in one room despite battling dementia. She's no longer here with us but I have that happy memory with me for the rest of my life. This is priceless.
You’re creating so much value. I’m happy that i’ve discovered your channel.
Hi Nischa, love your content, it's so inspiring and helpful. Any sound advice for a person to start saving/investing money after losing most of their savings be it in investment or any other life situations? Thank you!
Audrey Lauren is my guide
Absolutely agree on the importance of investing in milestone memories and personal growth! Prioritizing experiences and quality relationships over material possessions truly leads to a more fulfilling life. 🌟
- Accelerating Knowledge
- Milestone memories
- The Golden Triangle of Health
- Tools with Diminishing returns
- Safety and Security
- Hiring Professionals
- Retirement Savings
I don't scrimp on hotels when traveling. I used to be a Motel 6 kinda guy, but that extra 40-50 dollars makes up for it with the quality of sleep you are able to get
Other things I have learned not to skimp on:
Toilet paper
Coffee
Any brown sauce other than HP
Cheap trainers (running shoes/sneakers, etc)
Arguably not as important as Nischa's advice to be sure, but trust me 😁
Agreed! Little things that brings you small daily doses of happiness should not be skimped on 😊
Never skimp on footwear. After cheaping out on a new pair of shoes for work, I learned that the dull (and sometimes sharp) discomfort in your feet by the end of the day is enough to spend more on something that will be comfortable and durable in the long run.
Your maturing is obvious in this video. You will continue to mature as time goes on. Some are better than others. IMO, you are a role model of a 'successful person', in many regards. You have a unique ability to motivate others. Nice to meet you!
Here are the key takeaways from the video "7 Things You Should NEVER Skimp On":
1. Accelerating knowledge - Invest in gaining knowledge and skills, whether through books, apps, classes or tutors. Paying for expertise can accelerate your growth.
2. Milestone memories - Spend money to celebrate and create lasting memories for major milestones like birthdays, weddings, graduations. These memories are invaluable.
3. Health trifecta - Don't skimp on sleep, nutrition and movement/exercise as they vastly improve all areas of life.
4. Upgrade tools - As you grow, invest in better tools to support your progress when basic tools are no longer sufficient.
5. Safety and security - Pay for insurance, safekeeping of valuables etc. The peace of mind is priceless.
6. Hire professionals - Hire experts in fields like law, taxes, training as their knowledge saves time and money long-term.
7. Retirement savings - Start investing for retirement early to leverage compound growth over time. Pay yourself first.
The overarching message is to thoughtfully invest in personal growth, health, asset protection and compounding for the future - as the long-term benefits far outweigh any short-term savings.
As usual, precise & to the point
1. Accelerating finances
2. Milestone memories
3.golden triangle health
4.tools diminishing returns
5.safety and security
6.hiring professionals
7.retirement savings
thanks - saved me8 minutes
Thank you
You guys are missing all the details though
It's knowledge not finances on #1 😂
Don't forget to give back to God who makes all things possible. 🙏
Another thing you should never skimp on: priceless financial advice from Nischa! Thanks for all the effort you put into your videos 😊
Nischa-- You are beautiful-- Greetings from Colorado, USA.
If weddings were IPO, study says 45 Americans will end up opening two to 3 IPO's in their lifetime. Might rethink this one on the list.
Weddings are an ABSOLUTE waste of money.
Said no woman ever
Expensive ones definitely are 100%
True! Better to spend that money with your wife and kids on a 2 week vacation. That is memorable
I don't think you can do a decent wedding in the UK for less than £25,000.
Weddings are stupidly expensive, when you take into account of honeymoon and couples also wanting to purchase a house together around the same time, upscale weddings especially abroad are not worth it IMHO.
You are very beautiful creation of this universe !
1.9M Subscribers
Belated Happy Birthday! Totally agree with everything you have said in today's video except may be milestone memories. I prefer to keep that small. I usually gain knowledge when I join classes. I can never buy a book and read it on my own as I lose the motivation to read after the first couple of days. Using a real estate agent when buying or selling property, using an accountant when taxes get complicated, gym membership, living somewhat close to work (paying high rent, high property price) so that commuting to work is not stressful, buying high quality items for everyday use such as clothes, shoes, furniture and appliances are some of the things that I have done. The only regret that I have is not saving for retirement seriously in my 20s and 30s.
Hi Nischa, love your content, I was wondering what dermatologist you know of that is trusted in London. Would be grateful for your help. Thank you :)
Just wanna say I appreciate the insight as well as the wonderful graphics overlayed on top of the video to drive the points home visually. Appreciate what you do - keep it up😊
6:00 a raid 1 mirrored NAS for your important data. If one drive fails, no problem, swap in a new drive, the array rebuilds itself, no data loss. So many people go through life with a single hard drive point of failure and suffer the consequences when it fails
Key tip: Pay yourself first! Invest in yourself, invest in your future, build for retirement now!
When intelligence, wisdom ... and beauty come together, it produces a remarkable result. Thank you for this presentation.
These suggestions all seem to be given with the presumption that the recipient of this advice has some extra, or discretionary, income. What would your recommendations be for someone who is living on less than $22,000 U.S. dollars per year, and can barely pay the expenses of minimal "survival mode" life? I mean, for someone who has to buy their shoes used at thrift stores, or has the electricity shut off from time to time, some of these recommendations seem quite extravagant.
I'm not sure if the method you gave for assessing your insurance needs wouldn't actually work against you.
There's a cognitive bias described by Daniel Kahneman in his book "Thinking, Fast and Slow" that we tend to think that certain things are more likely to happen the easier it is to come up with examples of it happening. Also, he found out in his research that people often tend to overestimate marginal risks. More, we are willing to pay more to have as you said peace of mind, to be sure that we're 100% covered, even if the chances are really low. And insurance companies thrive on this. So I think it might be better to actually look up statistics and then based on that and your individual situation decide whether it's a good idea to get insured on something, rather than making a purely emotional decision.
Didn't want to criticize on what you said, just wanted to add this insight, as it was bewildering for me to learn, how easy it is to fall for these fallacies, how many different cognitive biases there are, and the impact they have on our decisions.
As someone who lost their wife to breast cancer I can say that the only thing i cherish from our wedding is our time together on that day. All the friends and family were great, but not important in “the end”. And in the end, our small wedding of 100 people could have been just us on a beach with a couple of witnesses. As Dr. Seuss said “You never know that value of a moment until it becomes a memory”. So yes, spend the money on vacations and on quality time together!!
Wedding still a waste of money to me , you will have people the you love around you with or without it... have small ceremony and with the money you save put it in your honeymoon there is will go all out with my husband
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
― Albert Einstein
Always good content Nischa….however I would add that up to 70% of weddings not only cost a lot of money, but actually end up in divorce.
Just enjoy every day, for tomorrow is not a guarantee , for sure plan for the future but don’t ever forget to take time an look around at the moment you are going through now. Happy belated birthday 💐🍾 till next time
Agree on all except for the wedding. You don't need to spend a ton of money to get everyone together. Overall it's a waste imo unless you're truly rich.
Usually agree with almost everything you say, but I disagree on the safety and security one. I don't think it's about just thinking how you would feel of the worst we're to happen (because if you follow that logic to the conclusion you would just spend like crazy on all kinds of insurance type products), it's about weighing the cost, probability and how you feel. Unless you are likely to have an emotional reaction to something then if you can comfortably afford to do so, generally it's best to self insure. Why let the insurer capture that margin?
3:50 Buy once, cry once.
When it comes to a wedding just rent a field or venue and have a party ,don't mention its for a wedding and celebrate and just go to a registery etc... so much cheaper
My pension fund has returned an average of 3% a year (after fees and taxes on earned interest), which doesn't even beat inflation.
Don't skimp on a wife...most financial decisions and financial health driven by your spousal alignment.
Good videos.
I purchased term life insurance, 20 years, but I do not have a family, so, many people ask me "Why did you buy it? Why do you care what happens after you die?"
It's hard to explain why. I just do not want my death go to waste. My extended family would benefit.
If I do not die and I live a long life, I'm the big winner!
I can't believe why nobody is talking about this book called Secret Pathway To Triumph. Millionaires book, Trust me.
Also another way to look at retirement savings is setting up a taxable account to hedge against job loss or soft lay offs. They happen SO often in the USA you need your fu money, your retirement accounts can double as your fu money giving you extra time to find the right job or find opportunities rather than having to get some job RIGHT NOW.
1. Shoes
2. Underwear
3. Socks
4. Bed
5. Food
6. Tires
7. Dishwasher
Would a new car be considered under safety and security? I kept an old Volvo rather than upgrading to a new car and had the car stall out on the freeway. I was terrified I was going to die all to save money I had on a new car. I cringe at financial experts saying a used 10+-year-old car that costs 8K in the US is a safe option. My old Volvo was worth 12K and it wasn't safe to drive. No old, unsafe cars for me.
Isn't it strange how people knowing absolutely everything about investing and money make the very same decisions that anyone else knowing absolutely nothing about investments and money would do?
After a while on RUclips being successful enough they usually upgrade their microphone or camera. 🤔
Maybe it simply all comes down to luck. Be lucky!
Nobody works hard . Everybody works only ,some people don't understand their work so they mismanage their work & call it hard work or satisfy their mind by saying so.
Wedding is basically spending money for others happiness. It's a huge waste of money. I would rather spend that money on a honeymoon. However, totally agree with sending money on mental and physical health and wellbeing.
I am often baffled by how unobvious these things are to other people.
I live in a cottage in Scotland with a career in London -- you wouldn't know to look at me if I were rich or poor.
Live like Bilbo Baggins -- richest man in town with a nice home, but understated, doesn't look flashy or unattainable. And gets in plenty of adventure in retirement,
Thanks for mentioning the Spanish,,,proud of speaking it by nature :D
I am so happy that I subscribed to your Chanel. You teach so much more than I thought I knew about finances and investment planning.
Some people are naturally good at something. For example at speaking some are natural speakers: have you seen that some babies are very fluent at speaking at 10 months, I saw that with baby girls and others mostly boys are not speaking by the age 3-4 years when they go at kinder garden. Some people are born with high visual capabilities while others struggle really hard. Some people are naturally good at orientation in space, like boys and others like most of women really struggle hard and have bad results. There are some natural tendencies and you notice them on people when they have less than 4 years.
i thought the lighting was extra nice this video!
Find the book titled Secret Pathway to Triumph. You'll learn all the money attraction techniques there. Trust me on this.
Tools with diminishing returns: Now I have another reason to justify that new powertool from Home Depot. :)
I don't think the issue with retirement is about waiting that long but about how our governments steal a good portion of it, considering they keep bumping the age of retirement and you get penalized heavily for taking that money out early even 5 years before the date. And also that once you die (say by accident earlier in life) it's not like those funds are going to even pay for your funeral or pass it down to family.
I've heard people say "what luck" and they said NO HARD WORK
I Think plastic surgery, medicin and heslth should be up there for most people.
Am I am invited for your wedding?
Buy the most expensive new car that the luxury dealership will let you buy! You will appreciate the ladies!😊
Thanks for the wonderful advice! I never thought about paying to for example to promote a video or 2 on my channel to get views, I thought naturally some were going to go viral but it helped simply helping people find some of my vids and although just started 2-3 months ago posting vids, I'm already at 170 subscribers = ). SO yes, invest a little for some return!
There is a ton of free knowledge, paying have no sense in most cases ;)
On a more frivolous note, I’d add toilet paper and dustbin bags, for obvious reasons! 💩
I never celebrated my birthday and my wedding cost me 30 bucks.
Wedding is ipo for women ? But man Oh god worst ,loose more than half mans networth , alimony
I was very cynical about the wedding, but we also came to conclusion that it would be the only time ever that all our friends and family would be in the same place. That was the priority. BUT, we also saved a lot of money by getting a civil wedding and getting married in the community centre of my father in law's village and getting a decent price on catering from the local restaurant. I hired the tux. Focus on people and fun and not on very expensive one-off self indulgent whims...
Don't get caught in the Diderot effect as you previously stated :P
The way you used wedding as an example at " Milestone Memories" , made me rethink about how i looked at it before. Thanks
I agree with you, we have a saying: we are toooooo poor to buy cheap things. That is why all my tools are expensive and last me decades. Every piece of tech in my house is long lasting, no subsription based stuff. Yes, I do have a YT Premium and a Tidal HIFI subscrition and it is enough. I never spend more than $200 on a phone and never felt the need to do it. But my Internet router is $600 and it does things easy to automate my house. Do I have piece of mind? Not really, I always look into more tech and knowledge but I never regret spending on something, when I do.
Every piece of tech you buy today for $500, you can buy tomorrow cheaper and better for only $200. They should not last for decades as they become obsolete in 2-3 years.
I never buy expensive tech. I do not want to pay for R&D + branding. But I always buy stainless steel tools if there's such option.
Paying for learning things is for people who are disorganised or bad at research.
Investing in quality tools and paying yourself is solid advice.
Idk…weddings In USA have blown money that could have been used to buy a house . We can not afford housing here. Rather have a house than a memory .
Have both. You can have a wedding without it costing an arm and a leg. Pride, vanity, and trying to impress people are what make weddings expensive.
@@JewelBlueIbanez I payed 88 bucks for lunch for 2 people today …..unless u get married in the backyard you are going to be paying a lot in the USA . 🙁🙁🙁🙁🙁
Guilty pleasures < 3 Making memories is everything
Revux's team is top-notch. Expecting big developments soon!
Don’t skimp on anything that comes between you and the ground. A good bed, shoes, work chair/couch, quality tires for your car.
I invested in a girlfriend in 2021 😂, also sometimes between me and the ground 🤐, but not good for my back, so happily single again in 2024, no offence intended by this post 😉
💯 - also, shoes and a bed because when you’re not in one you’re in the other.
Thank you. Nice summary of good advice. I'm glad I've subscribed.
Early starting is the best way to make money and savings.
@nischa - Were you in Antalya a few weeks ago? I think I may have seen you walk by with your friends and nearly slipped but you kept it together haha. It was near Hadrian's gate. I was going to ask if it was you infact, but felt it could go completely wrong haha!
Simply but not easy, just like many things in life
Thank you for sharing your insightful wisdom!
Any recommendations on Tax Advisors in UK?
This is also free advice from the Internet!😜
Loved this episode. I learn so much from your videos
actually its just revelation of time running out and then u suddenly see: u will die in next few years, and want to live peacefully without any burden/
that moment, and the next all changes and modifications u do. is u CHANGED/UPGRADED FOREVER
Shoes, skincare, quality clothes, special occasions(i.e Birthday), holidays, a good camera + lens (you'll see the difference), brokers & stock market analysts (no cowboys), pension providers, your children's education, bed and mattress, car tyres (no second hand jobs).