I'd love to see you do something out and about Nate! Love your setting and backdrop of course, but something to mix it up for an episode! You pick the topic, I am happy to listen :)
I know your American, but please could you do a british investment into stocks video cause I’m from Northern Ireland and would like to get into trading. I have money in a trading account but haven’t invested yet 😁 although your videos are great and I now look at my life as a company with budgets.
Nate, let me be very honest here - every time I watch your videos, I feel like I should have been focused on my financial wellness in my 20's. I am now picking up the pieces in my 30's. I salute you, Sir! If anyone would like to support my channel with subscriptions, I would greatly appreciate it. At least, I have to stay positive, right? I post awesome videos about NYC three times a week. I will post a new video today at 7:30pm EST. Make sure to keep on the notification bell
1. Buy too much house (the bigger the more buck) 2. Tapping into your retirement funds (definitely will regret in 10 yrs time) 3. Foregoing further educational opportunities (not limited to university/college - books, videos...) 4. Skipping insurance (get it for your kids while healthy, life insurance may not be granted to people with chronic illnesses or other serious issues) 5. DIY Investing (Jumping into the stock market too fast) 6. Not refinancing your mortgage (depends on credit score, interest rate) 7. Not withholding enough taxes (from your paycheck) - consider having more withheld for more buck back at the end of the year 8. Too many subscriptions (cut cost where possible - lots of payments to subscriptions make no sense) Thanks for these videos Nate!
We bought too much house compared to our income, but not too much for our family size, but now, the rents went up, our income went up, but our mortgage payment is almost the same. We are in California too. It’s so worth it, and I would rather save money in other areas. I am super frugal, watch any of my videos and see for yourself.
I'm still going to try to buy a house or condo, but I don't have anything for a down payment or closing costs! Plus I'm single so I only have my own income.
HELOAN, HELOCs and cash-out refis should ONLY be used as leverage for investing in rental real estate. If you have sufficient equity in your primary residence and you’ve done your due diligence and the numbers work out on a great deal, a HELOC is preferable as you can pay it off when your ARV (After Rehab Value) on the new acquisition is enough to refinance the total debt. Service that debt from the rental revenue and enjoy the residual net cash flow. Then use it again on future acquisitions. This is what I’m doing.
The only way I was able to scale through all of this without stress was by working with a financial adviser. My adviser ROCHELLE DUNGCA-SCHREIBER has always had my back all through the process of property investment and investing in general. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
YungKeemThaDream the most stupid argument in the world.Warren buffet (richer than any bitcoin investor) ‘rule number 1:don’t lose money. Rule number 2:don’t forget rule number 1’ but sure, avoiding risk is stupid, right? Just take a huge gamble and you’ll be rich!! Put $1000 on the lottery because scared money don’t make money
books and podcasts provide so much value everyone should be doing, listen to a little less music or watch a little less TV and read a book or listen to a podcast
You are correct about home ownership. I spend about $1000 per year on landscaping, $9000 per year on property tax, $400/month on utility costs, and several thousand dollars in repairs and maintenance.
$1000 for landscaping. I refuse to pay $30/month to have people cut my grass. $9000 taxes is alot. Defintely a factor when buying a home. $400 for Utilities not too bad. I try to shut off all unnecessarily lights and catch rain water for garden. Maintenance. Im a diy for sure. Saved over $10 grand fixing my own stuff past 3 years.
Damn man. That was tough to read but I'm glad you're set on your own idea of success now. I'm in a similar situation as you used to be except I'm 22 and mentally struggling with the fact that my parents want me to get a 9-5 stable job and just do that for the rest of my life. It's difficult to have conversations with them when I tell them that my end goal is to be a minimalist who travels as he pleases while helping people around the world. Just trying to figure out a way to make $ without being depressed sitting at a desk in order to accomplish that
same here. i was right and mother was wrong. had i done what i wanted to do i would have more money and i would be happier. im still working on doing what i want.
@@nicebars traveling around and help people is not serios plan, even more if you want to do it on your parents money. Go make your own money first at a 9-5 job, save and go travel
I def regret not reading as much in the past. Books are amazing tools for success. Most of the content from your fav business/self-help/guru youtubers stem from books that they’ve read.
Can you imagine the fact that there are certain people in this world that read an entire book every day? Imagine the vast amount of knowledge they can access or pull bits and pieces from at any time. I agree that a lot books are vital to understanding the world we live in and how to navigate in it
#4 i learned that i wont beat the market. Don’t leverage your money don’t do options just buy some solid stock stick with it and you’ll see it slowly grow instead of trying to beat the market. I only lost $300 out of $1000 but it was a well learned lesson.
🙌 I totally agree on the education advice. Both my degrees were FREE, & it only took a bit more research & effort than other people were willing to do. You really don’t have to be a genius to get a good deal, you just have to be willing to put in the effort! 😌🙌 I’m also a big proponent of self education! Whatever you can do to improve yourself & your life, is a good thing in my book! Great video, as always Nate! 💯
@Syndaron Jade Greywood After a disastrous first year at a crazy expensive private college, I learned my lesson & chose public colleges after that. If you’re a state resident, they tend to be far less expensive. I also wouldn’t skip filling out the FASFA & Tap/Pell Forms-no matter what you think you’ll get. Also, I think it’s important not to overlook scholarships offered by your school. Especially those offered specifically for your major. They tend to be less competitive & easier to get. I also applied to several other outside scholarships as well. The key to those is research, diligence & patience. Hope that helps!
Excellent advice! You should always keep learning, no matter what your age. I'm trying to learn everything I can about finances because I'm determined to have financial freedom. What other financial books do you recommend?
Tapping into your retirements funds should be the last thing you do next to filing for bankruptcy. You probably will have a penalty and the money taxed at your income rate. Just let it compound and find other ways to make money.
Hey, Finance major here. Life insurance is definitely a good idea! However, be careful of what type of life insurance you buy. Term life insurance only pays out less than 5% of the time (which is a good thing, kinda). Other life insurance can be very expensive, but can also have saving options which gives you a cash value at the end so you don't lose money paying a term insurance. Another option would be investing in something else (which is more risky, but risk = reward). Say you invested in something that produce a 7% interest rate (lower average of S&P 500 index). That would be enough to be even with the insurance policy except you get all the assets in the end, as well as, increasing the worth of your portfolio more than, say, a guaranteed 3% interest rate with a life insurance cash fund (in term insurance you most likely would receive nothing when your contract is up, hence 'term' insurance). So a young family may need life insurance, but after you have saved enough in another account there should be no reason to throw your money into that hole. Side notes: 1: Buying life insurance depends on the individuals, situations, and market conditions to be able to succeed in avoiding having to pay for life insurance for long. Life insurance may be the best option for you. (Its like a forced safety net, good for most people). 2: My source is just from what I have learned. I am in college, I could be completely wrong... but I have a 3.83 GPA, have read multiple books on personal finance, invested in stocks, and consider myself decently educated. 3: This is just a recommendation. This is not for everyone. I just want people to think of their other options to maximize ROI and not to pay later down the road on investments you don't need.
The only subscription, I have is Amazon prime and I get the student discount at $59 a year so I figure it’s well worth it! yes the principal is true, even a dollar over time will add up and that’s why am canceling acorns
I regret not paying off my student loan faster...I deferred or made minimum payments when I should have been side hustling and going super frugal...all that interest!
I don't have any regrets because I cannot change anything about my past. I can only control the present and future and so that's what I do. It's never too late to get on track.
You're changing your demographic to higher earning individuals! Last year it was about making money mowing lawns, 2019 got you all about "don't buy too many houses" hahaha! Great content Nate!
Hi Nate, this is a great video. Love your work! Refinancing your mortgage may not be the best way to go. It depends where you are on the loan amortization schedule. After the halfway point, the majority of your payment goes toward Principal which is building equity into your home. When you refinance, your amortization schedule restarts and you then start to pay mostly interest again. I would prefer putting more equity into my house so that I can get to not having a mortgage payment sooner and put more equity into the home. The second option is that if I plan to sell it in the future, I can continue to put equity into the home and lower my debt to income ratio so I retain more money during the sale. What do you think? Thanks!
About tax withholding, you might want to pay less for the first half of the year, and then increase it for the second half, so you are still even at the tax time, but get to get that money earlier to either reduce your debt or grow.
Great tips Nate! Regret is something that we all fear I feel. Retirement and obtaining knowledge is extremely important. I think the people we associate with are up there are well 🙌
Can not say enough how important insurance is. My friends old housemate ended up in 70k of debt because he had 2 at fault car accidents in 6 months and had NO insurance (aside from ctp which is compulsory) and had to pay off 3 damaged cars.
HOLD UP! YOU need to figure out how much you owe the government? Here it’s done by the company. Most people here get tax returns. Because they generally withhold too much.
Texas is a beautiful state. I've driven through it before and it's amazing how different the cities are from one another. What area are you in if you don't mind me asking? And what is it like?
So many worthless higher degrees that just put you in a mountain in depth with only 50,000 salary coming out. Makes zero sense of me. Find a degree that has a good payout
$6/month for Amazon Prime? I want that deal...I'm paying $12.99/month. Also, a quick tip on that topic: if cancelling your Amazon Prime or Netflix subscription is too extreme, but you know that you wanna take a break for a bit, you can also just freeze your account for a few months. If you don't wanna quick cold turkey, but know you won't have time to use their services for a few months, that could be a good option (and it will obviously stop the subscription charges during the allotted time).
People should save money for an emergency fund, before saving for investments. Investors usually recommend having a 6-month or one-year fund of your spendings. In that case, you can put money in riskier investments and still have money for emergencies.
Shoving a big chunk of money in the stock market without any experience is risky! You are right, it's better to throw in small amounts first until you get the hang of it.
@@NickOloteo I currently work in the grocery industry so a lot of my stocks are in companies like coke, procter, etc. with the rest being etf and index. How about you?
Good on you, I did this too. For 4 years, paid of my mortgage super fast and now mortgage free at 32. In truth I should have invested that money for better returns but not many can say they're mortgage free at my age.
Would very much like to know how do you manage and keep track of all the money from different sources that are coming in or going? I used to use an app called wallet to track my income and expense patterns. However, after taking my first engineering job, the income sources become scattered and keeping track of them became a hassle. But on the other hand, if I don't track the money, I tend to overspend. How do you deal with that?
Thank you for sharing !! My today's take awake is about investing. I heard in an other of your video that it really worth when you play with bigger amounts but it's true that it's better to train with smaller amounts first. So I'm about to start investing just after I end to give back my debts. I feel motivated. I still can start to learn about investment right now. So I guess that my first investment will be in a book about investment 😎
On the tax part... you don't want to do your CD strategy you must have at least 90% of your previous amount taxes paid or 100% of the current years taxes paid by the end of the year or you can get hit with a penalty. Basically the government is saying they want to earn interest off your taxes and not let you.
Vhilicious Lyrics yea that’s the ideal situation but the issue is that most people aren’t taught to take out a loan that’s LESS than your average starting salary- people end up 200k in debt with a job that pays 50k a year.. it’s really sad ):
How about buying a car based on monthly payments (most people regret that before they finish payments). Also, I wouldn't even list life insurance... be very careful with whole life insurance, most agents are looking for a profit when they try to sell you that junk
what sort of numbers do you reccomend for people looking at buying a house when the average house price in my country and specifically the city i live in and most of our cities is somewhere between 700-800k and after tax income is usually less than 50k a year?
Buy a house is complicated, you obviously want to stay on budget. However, you do not want to buy a fixer upper and then pay 30,000 to 300,000 dollars to fix everything inside of it and go into more debt.
Use the extra time you have to 1. *Invest* *in* *your* *knowledge* 2. *Connect* *with* *others* *that* *are* *doing* *what* *you* *want* *to* *do* . 3. *MAKE* *IT* *HAPPEN* (keys to any successful business model). Cheers!
Insurance* - only Health and Life Insurance. For car insurance, electronic insurance, unless you are deliberately going to destroy it, you should not buy insurance. It's too expensive and if they're broken, just buy them again. You can't buy health and life though
Most people will regret buying their dream car in ten years, the feeling of buying that new car might last a year but will fade quickly. Ask a question before buying, do I really need this, will I still like it in two years? Stop to think about what you are about to do.
@Aptix I do. I'm 26 and I wish I saved up my money. Still by yourself decent clothes you feel good in, but no need to go overboard. If you're trying to impress anybody right now chances are you'll grow apart from them in the next 5-10 years anyway.
You may want to consider checking out some videos about "Minimalism". Basically you give up as many material goods as you can and only salvage what you truly need. So since I believe that type of lifestyle is important when it comes to both happiness and saving money, I would say yes you will regret spending money on clothing when you could have used that money on books, stocks, a Roth IRA and many other things that will aid you in the long run
Aptix I still have my ripped jeans from grade school rule of thumb invest why your young your not getting any younger that’s one of my financial mistakes 1 I wish I could go back in time at 17 and invest 2 spending more than I made a week working I would spend more than I made and I was always broke I’m glad I’m not like that at 26 I’m saving more than spending
tirthb I think if you want a nice car at 20 use public transport for 10 years, get a nice car at 30.Tbh all these people flexing nice cars or stacks of cash don’t realise their money could be improving their cash flow even more...
I see too many friends who are Mortgage poor because of those reasons. I always buy undersized low tax homes and usually pay them off in less than 5 years. I wouldn't be able to do that if I bought huge homes.
Hey Nate, I’m an executive speaker coach and would love to do a free thirty minute session with you to help improve the quality of your content. I just want to see you thrive and get to the next level. Really enjoy your videos!
Which videos would you like to see next? What questions do you have? Comment below!
I'd love to see you do something out and about Nate! Love your setting and backdrop of course, but something to mix it up for an episode! You pick the topic, I am happy to listen :)
How to invest from the Caribbean. A lot of the advice is difficult to follow if you don't have an American Bank account.
Kadeem's Art And Design co. Yes!
I know your American, but please could you do a british investment into stocks video cause I’m from Northern Ireland and would like to get into trading. I have money in a trading account but haven’t invested yet 😁 although your videos are great and I now look at my life as a company with budgets.
Nate, let me be very honest here - every time I watch your videos, I feel like I should have been focused on my financial wellness in my 20's. I am now picking up the pieces in my 30's. I salute you, Sir! If anyone would like to support my channel with subscriptions, I would greatly appreciate it. At least, I have to stay positive, right? I post awesome videos about NYC three times a week. I will post a new video today at 7:30pm EST. Make sure to keep on the notification bell
1. Buy too much house (the bigger the more buck)
2. Tapping into your retirement funds (definitely will regret in 10 yrs time)
3. Foregoing further educational opportunities (not limited to university/college - books, videos...)
4. Skipping insurance (get it for your kids while healthy, life insurance may not be granted to people with chronic illnesses or other serious issues)
5. DIY Investing (Jumping into the stock market too fast)
6. Not refinancing your mortgage (depends on credit score, interest rate)
7. Not withholding enough taxes (from your paycheck) - consider having more withheld for more buck back at the end of the year
8. Too many subscriptions (cut cost where possible - lots of payments to subscriptions make no sense)
Thanks for these videos Nate!
This is so great I wish Nate would take the time to include this into the description
And, Thank you for the summary of the video
nice
I'm only 12 but I thought I might learn this stuff sooner
Just be patien and learn a lot for this you won't regret in future you'll be far ahead the others
im 13 :)
Your so lucky your learning this at this age. Im 18 and learning this noe
Smart
I’m in first grade
Insider tip: Can't buy too much house when you can't afford a house in the first place. #California
We bought too much house compared to our income, but not too much for our family size, but now, the rents went up, our income went up, but our mortgage payment is almost the same. We are in California too. It’s so worth it, and I would rather save money in other areas. I am super frugal, watch any of my videos and see for yourself.
I'm still going to try to buy a house or condo, but I don't have anything for a down payment or closing costs! Plus I'm single so I only have my own income.
You have enlightened me
HELOAN, HELOCs and cash-out refis should ONLY be used as leverage for investing in rental real estate. If you have sufficient equity in your primary residence and you’ve done your due diligence and the numbers work out on a great deal, a HELOC is preferable as you can pay it off when your ARV (After Rehab Value) on the new acquisition is enough to refinance the total debt. Service that debt from the rental revenue and enjoy the residual net cash flow. Then use it again on future acquisitions. This is what I’m doing.
The only way I was able to scale through all of this without stress was by working with a financial adviser. My adviser ROCHELLE DUNGCA-SCHREIBER has always had my back all through the process of property investment and investing in general. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
Regretting not making Graham Stephan’s $0.20 iced coffee sooner in my life ...
Investing Engineered just started today lmao
it is unhealthy - check the sugar content.
I see your comments everywhere
@@cazpk6840 Mate I don't think your $3 Starbucks coffee is much better haha
So many people will regret just not starting, not letting that compound interest build up.
Agreed.. But it isn't just money that buys you happiness. I know truckloads of miserable rich people. Balance is the key!
I'm 28 and have already made innumerable financial mistakes. BUT! I have peace of mind. Live and learn. That's my motto! 😃
*that I didn’t invest in bitcoin back in 1813*
Ooof
There’s still other coins you can hit on 🤷🏾♂️
YungKeemThaDream risk risk risk
Wallop Wallop scared money don’t make money
YungKeemThaDream the most stupid argument in the world.Warren buffet (richer than any bitcoin investor) ‘rule number 1:don’t lose money. Rule number 2:don’t forget rule number 1’ but sure, avoiding risk is stupid, right? Just take a huge gamble and you’ll be rich!! Put $1000 on the lottery because scared money don’t make money
books and podcasts provide so much value everyone should be doing, listen to a little less music or watch a little less TV and read a book or listen to a podcast
Very true. Or listen to music and watch TV that has meaning and makes you think
Music has 10x more value than podcasts. 99% of them are a complete waste of time.
You are correct about home ownership. I spend about $1000 per year on landscaping, $9000 per year on property tax, $400/month on utility costs, and several thousand dollars in repairs and maintenance.
$1000 for landscaping. I refuse to pay $30/month to have people cut my grass.
$9000 taxes is alot. Defintely a factor when buying a home.
$400 for Utilities not too bad. I try to shut off all unnecessarily lights and catch rain water for garden.
Maintenance. Im a diy for sure. Saved over $10 grand fixing my own stuff past 3 years.
Watching all your videos as a 14 year old. I'm learning more here than I learn in school
I read Rich Dad Poor Dad my junior year of high school (in the back of my precal class 😂) and I'm glad I read it when I did!
It's a good one!
Smart move!
Two of my biggest regrets are not starting a Roth IRA and opening a credit card at 18. The few years makes a HUGE difference.
They sure do Zachary. Great point!
I remember I opened a card on my 18th birthday!
Biggest Regret: Not following my dream career at 21 and listening to my parents advice instead...had to wait 10years to do my own thing.
Damn man. That was tough to read but I'm glad you're set on your own idea of success now. I'm in a similar situation as you used to be except I'm 22 and mentally struggling with the fact that my parents want me to get a 9-5 stable job and just do that for the rest of my life. It's difficult to have conversations with them when I tell them that my end goal is to be a minimalist who travels as he pleases while helping people around the world. Just trying to figure out a way to make $ without being depressed sitting at a desk in order to accomplish that
same here. i was right and mother was wrong. had i done what i wanted to do i would have more money and i would be happier. im still working on doing what i want.
@@nicebars your parents are right :))
@@komplast Why?
@@nicebars traveling around and help people is not serios plan, even more if you want to do it on your parents money. Go make your own money first at a 9-5 job, save and go travel
I def regret not reading as much in the past. Books are amazing tools for success. Most of the content from your fav business/self-help/guru youtubers stem from books that they’ve read.
I read a book every week!
really a book does help alot
Can you imagine the fact that there are certain people in this world that read an entire book every day? Imagine the vast amount of knowledge they can access or pull bits and pieces from at any time. I agree that a lot books are vital to understanding the world we live in and how to navigate in it
Thanks for being such a great help. Cutting out a lot of "entertainment" out of my life has helped out my art a lot.
I absolutely love the soft lighting of all of your videos
Love the tips! I'm happy to say I'm watching this at age 20 instead of age 50!
Me at 15. Wow that motivates me
Polar Barb im 3
I'm still in my mothers womb, just preparing myself early on
Polar Finance 18
#4 i learned that i wont beat the market. Don’t leverage your money don’t do options just buy some solid stock stick with it and you’ll see it slowly grow instead of trying to beat the market. I only lost $300 out of $1000 but it was a well learned lesson.
Good to know this, so us won't commit these mistakes if ever. Thank you for the video.
Hopefully not!
🙌 I totally agree on the education advice. Both my degrees were FREE, & it only took a bit more research & effort than other people were willing to do. You really don’t have to be a genius to get a good deal, you just have to be willing to put in the effort! 😌🙌 I’m also a big proponent of self education! Whatever you can do to improve yourself & your life, is a good thing in my book! Great video, as always Nate! 💯
Free? Where did you get those!?
@Syndaron Jade Greywood
After a disastrous first year at a crazy expensive private college, I learned my lesson & chose public colleges after that. If you’re a state resident, they tend to be far less expensive. I also wouldn’t skip filling out the FASFA & Tap/Pell Forms-no matter what you think you’ll get. Also, I think it’s important not to overlook scholarships offered by your school. Especially those offered specifically for your major. They tend to be less competitive & easier to get. I also applied to several other outside scholarships as well. The key to those is research, diligence & patience. Hope that helps!
So excited when I see your bell go off Nate! Looking forward to this!
Excellent advice! You should always keep learning, no matter what your age. I'm trying to learn everything I can about finances because I'm determined to have financial freedom. What other financial books do you recommend?
Tapping into your retirements funds should be the last thing you do next to filing for bankruptcy. You probably will have a penalty and the money taxed at your income rate. Just let it compound and find other ways to make money.
I regret not getting a vasectomy
I laughed way to hard at this.
OOOOOOOOOHHHHHHHHHHHHH
Nom de Guerre it’s a joke you fucking smoothbrain
Man I needed that laugh!
Great advice. I made the mistake of buying too much house, not buying life insurance early and not saving enough in 401k and Roth IRA.
We're all on the same page in the FI community but I think we're probably the minority 👎
Hey, Finance major here. Life insurance is definitely a good idea! However, be careful of what type of life insurance you buy. Term life insurance only pays out less than 5% of the time (which is a good thing, kinda). Other life insurance can be very expensive, but can also have saving options which gives you a cash value at the end so you don't lose money paying a term insurance.
Another option would be investing in something else (which is more risky, but risk = reward). Say you invested in something that produce a 7% interest rate (lower average of S&P 500 index). That would be enough to be even with the insurance policy except you get all the assets in the end, as well as, increasing the worth of your portfolio more than, say, a guaranteed 3% interest rate with a life insurance cash fund (in term insurance you most likely would receive nothing when your contract is up, hence 'term' insurance). So a young family may need life insurance, but after you have saved enough in another account there should be no reason to throw your money into that hole.
Side notes:
1: Buying life insurance depends on the individuals, situations, and market conditions to be able to succeed in avoiding having to pay for life insurance for long. Life insurance may be the best option for you. (Its like a forced safety net, good for most people).
2: My source is just from what I have learned. I am in college, I could be completely wrong... but I have a 3.83 GPA, have read multiple books on personal finance, invested in stocks, and consider myself decently educated.
3: This is just a recommendation. This is not for everyone. I just want people to think of their other options to maximize ROI and not to pay later down the road on investments you don't need.
Love this channel. I usually listen at work while I'm working.
I didn’t actually hear what he said, I was to occupied with his mesmerizing hand movements and gestures!
The only subscription, I have is Amazon prime and I get the student discount at $59 a year so I figure it’s well worth it!
yes the principal is true, even a dollar over time will add up and that’s why am canceling acorns
EPIC STACK isn’t it $59 a year now?
But with amazon music, video, and prime library it’s a very multifunctional membership and hold a lot of value
Claire Panda yes you’re right it is up to $59 now but still plenty worth it value
And if you use their credit card, 5% back, once you spend $1200 a year you technically get it back.
When I see a new Nate video. I smash that like button regardless of what it’s about.
lol nice!
Learning from others mistakes✅
A necessity
Awesome tips Nate! The part about subscriptions you forget about, man those ADD up! Thanks for the reminder!
I regret not paying off my student loan faster...I deferred or made minimum payments when I should have been side hustling and going super frugal...all that interest!
same.
Man, I’ll be going to college next year and I’m scared
@@Melvin_499 I hope you are preparing now by saving money and picking major that will lead to a good career..and one you will enjoy..
I don't have any regrets because I cannot change anything about my past. I can only control the present and future and so that's what I do. It's never too late to get on track.
You're changing your demographic to higher earning individuals! Last year it was about making money mowing lawns, 2019 got you all about "don't buy too many houses" hahaha!
Great content Nate!
Poor people still buy houses!
@@RandomGirl380 hahaha, that's true! I don't think they buy too many, though 😏
"Too much house" means a house that is too big for your needs or more expensive than you can afford. 👍
Legends say his living room size closet is full of only long sleeves💀😂
I live in nj, like 10 mins to NYC, and the property taxes are stupid high
The best investment you can make is in yourself
Love your videos! You are wise beyond your years! Keep up the good work!
So nice to see short simple videos. great content.
The taxes issue you mentioned hit home
Whoa! You're wearing a different AND bright top. Love your videos, Nate. Keep it up!
Hi Nate, this is a great video. Love your work! Refinancing your mortgage may not be the best way to go. It depends where you are on the loan amortization schedule. After the halfway point, the majority of your payment goes toward Principal which is building equity into your home. When you refinance, your amortization schedule restarts and you then start to pay mostly interest again. I would prefer putting more equity into my house so that I can get to not having a mortgage payment sooner and put more equity into the home. The second option is that if I plan to sell it in the future, I can continue to put equity into the home and lower my debt to income ratio so I retain more money during the sale. What do you think? Thanks!
About tax withholding, you might want to pay less for the first half of the year, and then increase it for the second half, so you are still even at the tax time, but get to get that money earlier to either reduce your debt or grow.
Thanks Nate. Love all your videos. 🌻👍
I regret not going for what I really wanted from an education.
Live in Northern New Jersey... can confirm, we pay $11,760 in property taxes for a $300,000 home.
Can we get a updated video on the best Roth IRA accounts and best investments within them
I invest atleast 40% of my post tax income every month
Agreed
Yndiax into what?
@@goldenbootpapi dividend stocks
@@Yndiax and how much profit are you making on a yearly basis?
Nate is so Philly when he thinks “basketball player,” AI comes to mind before MJ 😂 🏀
Great tips Nate! Regret is something that we all fear I feel. Retirement and obtaining knowledge is extremely important. I think the people we associate with are up there are well 🙌
Well said my friend! :)
Hoping I can retire before age 40
lump sum investing has been shown to outperform dollar cost averaging about 71% of the time.
jason moniz details pls
Great video bro
Well said my friend! :)
Thanks Richard!
Can not say enough how important insurance is. My friends old housemate ended up in 70k of debt because he had 2 at fault car accidents in 6 months and had NO insurance (aside from ctp which is compulsory) and had to pay off 3 damaged cars.
thats because he spent the money he saved on insurance
Awesome tips! Thanks for suggestions...
Very good hope u make some more similar videos.
HOLD UP! YOU need to figure out how much you owe the government? Here it’s done by the company. Most people here get tax returns. Because they generally withhold too much.
It's when people have income going up and down a lot that it becomes complicated. The employer might not have withheld enough.
Relocated from NJ to Texas for better/cheaper living 2 months ago...best decision!!!
Saving a lot on income taxes!
Or move to a SEA country and live like a king
Brandon Cinq im about to do the same once i save some money and buy precious metals and bitcoin.
Texas is a beautiful state. I've driven through it before and it's amazing how different the cities are from one another. What area are you in if you don't mind me asking? And what is it like?
Community college is actual college lol... it's literally in the name.
What's the difference ? What are you referring to ?
I have a french background, I don't know what you're talking about, but I'd like to understand.
So many worthless higher degrees that just put you in a mountain in depth with only 50,000 salary coming out. Makes zero sense of me. Find a degree that has a good payout
$6/month for Amazon Prime? I want that deal...I'm paying $12.99/month. Also, a quick tip on that topic: if cancelling your Amazon Prime or Netflix subscription is too extreme, but you know that you wanna take a break for a bit, you can also just freeze your account for a few months. If you don't wanna quick cold turkey, but know you won't have time to use their services for a few months, that could be a good option (and it will obviously stop the subscription charges during the allotted time).
Hi im 13 months old and im already watching your videos
People should save money for an emergency fund, before saving for investments. Investors usually recommend having a 6-month or one-year fund of your spendings. In that case, you can put money in riskier investments and still have money for emergencies.
What are your views on Whole vs Term Life Insurance?
Shoving a big chunk of money in the stock market without any experience is risky! You are right, it's better to throw in small amounts first until you get the hang of it.
Everyone overestimates their ability to invest in the beginning
what kind of stocks are you buying?
@@NickOloteo I currently work in the grocery industry so a lot of my stocks are in companies like coke, procter, etc. with the rest being etf and index. How about you?
@@kirinnguyen2074 haven't invested just yet but I will invest in coke and only dividend stocks with decades of history
@@NickOloteo Awesome, can't go wrong with coke!
I have a 3 bdrm, renting out two of the 3 rooms. Gives me an extra 725 a mnth for two yrs now. 🤑🤑🤑
That's great!
Smart move!
Good on you, I did this too. For 4 years, paid of my mortgage super fast and now mortgage free at 32. In truth I should have invested that money for better returns but not many can say they're mortgage free at my age.
Detail Enthusiast how to you deal with those people using your downstairs living room, garage, fridge, etc?
Would very much like to know how do you manage and keep track of all the money from different sources that are coming in or going? I used to use an app called wallet to track my income and expense patterns. However, after taking my first engineering job, the income sources become scattered and keeping track of them became a hassle. But on the other hand, if I don't track the money, I tend to overspend. How do you deal with that?
Redowan Nafi i use google sheets and put down all the expenses and income in there for each day. It becomes a habit now
Thank you for sharing !! My today's take awake is about investing. I heard in an other of your video that it really worth when you play with bigger amounts but it's true that it's better to train with smaller amounts first. So I'm about to start investing just after I end to give back my debts. I feel motivated. I still can start to learn about investment right now. So I guess that my first investment will be in a book about investment 😎
Thank you Nate
Won't refinance set your interest rate clock from the beginning again?
YES it will
True on the College fact! Open a business instead, it's waaaay cheaper. Open a LLC and do what you love.
Great point as well! Wish I had known more a long time ago!
LLC's are typically cheap and easy to set up!
*Great tips Nate! Definitely important to save for the future but to also HAVE FUN in the present.*
Thanks sean!
Good stuff!
Woah had no idea property taxes in the US were so high
On the tax part... you don't want to do your CD strategy you must have at least 90% of your previous amount taxes paid or 100% of the current years taxes paid by the end of the year or you can get hit with a penalty. Basically the government is saying they want to earn interest off your taxes and not let you.
I'm 28 and my biggest financial regret is going to university.
But why??
@Adam Milne, why is that?
Vhilicious Lyrics most careers don’t require a degree and also it’ll keep you in debt
@@eatingparis ahh i see. But it is possible right to get out of the debt once you start to work after finishing your study
Vhilicious Lyrics yea that’s the ideal situation but the issue is that most people aren’t taught to take out a loan that’s LESS than your average starting salary- people end up 200k in debt with a job that pays 50k a year.. it’s really sad ):
#1-8. Paying for college
You keep on telling us not to buy cars but they are fighting back by placing car commercials over your videos 🤣
How about buying a car based on monthly payments (most people regret that before they finish payments).
Also, I wouldn't even list life insurance... be very careful with whole life insurance, most agents are looking for a profit when they try to sell you that junk
Too much avocado toast will be a regret of mine in the next 10 years
Like if you get the joke
Meanwhile I'm launching an avocado toast store
AllEgEd PAncAkE2 Starbucks is another problem people have. Say you get Starbucks like 3x a week. That’s about $800 a year 🤷🏻♂️😤
Disliked unsubscribes 😂
Very helpful
what sort of numbers do you reccomend for people looking at buying a house when the average house price in my country and specifically the city i live in and most of our cities is somewhere between 700-800k and after tax income is usually less than 50k a year?
oh yeah and rent is about 500 a week depending on the area
Buy a house is complicated, you obviously want to stay on budget. However, you do not want to buy a fixer upper and then pay 30,000 to 300,000 dollars to fix everything inside of it and go into more debt.
Allen Iverson didn't believe in practice lol
For his height, iverson was one of the greatest to ever step on the court
Thank you
How come you don't model? I think you would make for a good male model
I’m not sure about that!! But thanks I’ll take your comment as a compliment
Use the extra time you have to 1. *Invest* *in* *your* *knowledge* 2. *Connect* *with* *others* *that* *are* *doing* *what* *you* *want* *to* *do* . 3. *MAKE* *IT* *HAPPEN* (keys to any successful business model). Cheers!
mine is
$5 a month for Sodapoppin
$5 a month for MoonMoon
$5 a month for Discord all Emotes
Insurance* - only Health and Life Insurance. For car insurance, electronic insurance, unless you are deliberately going to destroy it, you should not buy insurance. It's too expensive and if they're broken, just buy them again. You can't buy health and life though
You need car insurance to drive in America
Most people will regret buying their dream car in ten years, the feeling of buying that new car might last a year but will fade quickly. Ask a question before buying, do I really need this, will I still like it in two years? Stop to think about what you are about to do.
Hi, I'm 17 years old. Do you think I will regret spending money on clothes?
@Aptix I do. I'm 26 and I wish I saved up my money. Still by yourself decent clothes you feel good in, but no need to go overboard. If you're trying to impress anybody right now chances are you'll grow apart from them in the next 5-10 years anyway.
You may want to consider checking out some videos about "Minimalism". Basically you give up as many material goods as you can and only salvage what you truly need. So since I believe that type of lifestyle is important when it comes to both happiness and saving money, I would say yes you will regret spending money on clothing when you could have used that money on books, stocks, a Roth IRA and many other things that will aid you in the long run
Aptix I still have my ripped jeans from grade school rule of thumb invest why your young your not getting any younger that’s one of my financial mistakes 1 I wish I could go back in time at 17 and invest 2 spending more than I made a week working I would spend more than I made and I was always broke I’m glad I’m not like that at 26 I’m saving more than spending
*You’ll regret not watching all of Nate’s videos!*
That's true my man!
oh snap
Why people hate wall street when they lose money when they happily lose on a Tesla or a BMW
tirthb I think if you want a nice car at 20 use public transport for 10 years, get a nice car at 30.Tbh all these people flexing nice cars or stacks of cash don’t realise their money could be improving their cash flow even more...
I would love to know what mic you use.
I see too many friends who are Mortgage poor because of those reasons. I always buy undersized low tax homes and usually pay them off in less than 5 years. I wouldn't be able to do that if I bought huge homes.
Michael Pollini how many do you have? Or do you sell before the next one?
i clicked on this video bc you had a YELLOW shirt on, then it starts and you in your normal black fit
Hey Nate,
I’m an executive speaker coach and would love to do a free thirty minute session with you to help improve the quality of your content. I just want to see you thrive and get to the next level. Really enjoy your videos!
7:35 Clear Iverson homer haha, I'm with that!