Investing has been rather rewarding to me and I've learned that getting a good return is very much attainable if you know your way around it. Do not let anyone tell you it’s impossible to have a good retirement.
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $16k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
To the best of my knowledge, Mungers quote is from the early 90s. Meaning that the 100k he referred to, in todays value, probably is around 350k. Something to think about.
The 100k number is completely arbitrary. The concept of compounding works exactly the same whether it is 100, 1000, 100k or a million. If you can only afford to put a tenner away each month, it's still going to take you 7 years (@ 8%) to get to a grand and then will reduce down accordingly in the same way as if you are putting 1k away each month will take you the same amount of time to get to 100k. We see it so much on finance RUclips cos munger said it, while it is an important lesson about compounding the figure is completely irrelevant and is scalable in proportion to the amount people can afford to save.
Take that 100k and borrow high dividends etfs on margin and hold them forever. You can generate close to 5k+ a month in dividends and more if you let it compound.
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Finding financial advisors like Sonya Lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Laila artine kassardjian is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Nice video! Please please please make a video of all your failed side hustles as you mentioned. It's important for people to understand that failure is just part of the journey
In an age where instant gratification often reigns, this sort of practical advice is what we need more of, especially for young adults like myself. It's about time we make saving cool again!
So true! The first $100k is the hardest because you don’t have compound interest working hard for you yet. It took me 4.5 years to hit a $100k networth. It took me 2 years to hit the next $100k.
@@mvcards20 yea a good portion of my portfolio is in the S&P 500. It’s diversified into all of the US publicly traded companies and some international index funds as well.
@@mvcards20 vanguard etfs is one option for passive income. im getting a nice dividend from VGS for this quarter, reinvesting to compound and buy more, have others as well to diversify..
I was aggressive but on a 60k salary and investing in new legal market. Still only available to half USA this stock will 10x in next 5 years. DraftKings. A compounded 1,000 a month for 5 years you can be multimillionaire. It still only in 20 states will be in 50 next 5 years. Look it up and good luck
As if people here are saying 31 isn’t young…wow we really do life in an ageist society. 🤦🏼♀️🙄 Trust me guys, your 30s will be here before you know it and things won’t even feel any different. Then let’s see if you think 31 isn’t young…
Living below your means and watching your spending very closely is very important particularly in the current environment. Thanks for your wisdom as always Nischa 🙂
That's very interesting actually. The fact that you tried many other businesses on the side that didn't create positive results but still stuck to it and kept trying. That would make for a great video!
I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 270k from the S&P and invested with a Full service broker ... Until around 3 years ago we were 100% in the s&p after over 30 years.I'm retiring at the end of this month at 59, while my wife will retire next year at 54. We currently have 3.7 million in out tax deferred savings..
Main lessons: 1. Importance of the First $100,000 2. Increase Earning Potential 3. Investment and Assets 4. Persistent Exploration 5. Creative Living Below Your Means 6. Analyzing Expenses 7. Compounding and Investing 8. Set Clear Goals 9. Continuous Learning and Adaptation 10. Individualized Strategies
I am so guilty of not tracking my spending more strictly. As long as I’m net positive at the end of the month I would keep on with my routine. But I finally took the time to track and categorize what I spend my money on and the numbers seemed so staggeringly high. Just totaling up the Amazon purchases alone was the reality check I needed 😅 thanks for the continuous drip of knowledge and inspiration. Keeping the idea of saving and smart investing top of mind is a great way to help me be mindful of what I put my money towards.
I have to say that the first $100k is the toughest, it'll surprise you how easy it gets from there, i'm speaking from experience my wife and i managed to save it, we could have spent it on a lot of things i mean we could have gone on vacations but we didn't and funny enough didn't really start seriously investing until I was 30 back in 1998. Today, I'm 53 and have a decent $1.2M nest egg. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
You've missed out on living. Go on vacation! You will never get those years of your life back. Each to their own but I don't regret a penny of the fairly substantial amounts we've spent on family holidays, the good times and memories last a lifetime.
Great video! And thank you for being honest about the advantages you’ve had on your financial journey 😊 many other creators fail to mention this, and make it seem like it’s easy to save this amount of money. So thank you for acknowledging the different points of departure we all have.
I would love to see the 'failed businesses' videos. That would make me feel so much better about my attempts . . . Once again, thank you so much. The way I saved my first 100,000 was by automatically contributing to my 403K account every month and it just took off from there. Making it automatic was key for me, especially when young and undisciplined. Thank you, Nisha.
I bought an older year box truck (I'm a welder) so I have access to unlimited steel I have formed metal working skill over the years and I have converted this thing comfortable enough to live in rent free all the extra money is either going towards saving or investing it's possible
Nice to see other ppl in this chat talking about building wealth. 100k is something I’ve set my sights on cause when I broke it down over x amount of years it is soooo attainable. I’m going to screen shot my balance when I get there and use as motivation.
I’m on the cusp of getting my 1st home, I’m looking to get it and rent it and live with my parents for a few years as you did.. using tax defo my accounts to increase my deposits and also putting aside for small things I like to have(investing in watches) .. thank you for this video really boosts moral when you confirm that my thinking is correct ❤
So glad to have found you, Nischa. You talk so much common sense. You wanted to know so here goes: I got out of the rental scene at a very young age (23, I'm now 59) and bought a supreme handy-man special home for only 29K in 1987. This forced me to learn plumbing, electrical work, sheet rock, flooring, and everything else because my house needed everything. I got my first decent job (25K back then) a year later and contributed 15% of my salary to a company 401K and an equal amount into a Roth IRA. When I transferred jobs to another state 5 years later my realtor advised me that the bank approved me for a 130K house so I bought a 69K house and paid off the mortgage in about 7 years. The mortgage payments now went to my Roth IRA and the stock market. I never had cable TV, my phone plan is only $14 a month, I never had a car payment, and I rarely had to hire anyone to do anything because of all the repair skills I gained along the way. I also learned how to tune and rebuild pianos along the way a had a successful side business for 10 years of that time. I love your videos. I hope to keep learning.
This is amazing! Thank you! I love that you still have your "day job" and doing YT on the side. This way your advise feels a lot more applicable (to me at least). I'm someone who wants to continue doing my day job while still looking for an additional source of income.
Hi Nischa, Please can you do a video/s on your journey of buying your first property and everything one should know. I'm in the exact same position now so would find this really helpful. ❤❤
just turned 20 this june, currently have over 50k saved in the bank and other investments which make my net worth add up to around 80k still at home so my expenses are extremely low, my total monthly expenses are less than 7% of my monthly income.
As soon as I had 100k I bought a house. It was something I always wanted to do. Now it will be easier to buy my next house. I'm not doing it to get rich quicker but to live my preferred lifestyle. To me this is just as rewarding.
you could have invested it and made another 100k within a couple of years and then bought a house. but now you are stuck paying the principle and interest on a mortgage. you could have taken some of the dividends from your investments to offset your interest on the mortgage in an offset account or in extra repayments, or let it continue to compound by reinvesting the dividends. either way, buying the house first made it harder for you to get the next 100k into investments that will earn passive income. i dont think you have comprehended the power of compounding at 100k. sure its not enough to live off, but you can get to 1 million this way within 30 years easily just reinvesting the dividends. At that point you will be able to live comfortably just off the dividends and no longer need to work. Or continue to reinvest it and set your bloodline up.
@@spelonberrycare to explain how you have such a low interest rate? When the average is 4.79% for a 5 year Mortage in Alberta. You stated you have room mates. Are they contributing to paying off your mortgage? What are your monthly repayments in order to pay off this in 5 years?
@spelonberry cool story. nice to see young tryhard youtubers being so humble. not the only one decorating their house. you really think its a flex. oh wait my quarterly vanguard etf dividends just came in, im just going to make my free mortgage payments with it excuse me.
Thank you Nischa! ‘A job should be there to learn or to earn, ideally both,’ is a great quote and I wish someone told that earlier in life. When saving $100,000 you mean through a saving account or through a index funds or both?
I've managed to save £4k and that's going to be my emergency fund. Next plan is to start a side huslte... I already have my first client. Thank you Nischa
It took me 7 years to make my first $100,000. I think the first 2 of those years was me trying to figure out how to save more efficiently. Now I am on track to making each $100k every 3 years.
Great video Nischa! I've just started this goal, as I live with my parents, my idea is to save around 20k into an index fund before moving. I'm basing it on a 10% average of over 10 years, with a yearly deposit of 2.5 to 3K thereafter, the initial deposit will be difficult but once this is achieved, the yearly deposits are possible whilst still living a good lifestyle. Time also plays a big factor for the compounding to do the hard work!
I agree living below my means helped me to achieve my financial goals. Also, I improved my understanding what are my “needs and wants.” Lastly, paying myself first before I paid my monthly obligations. Thank you for your presentation today.
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
You are spot on with your advice, as someone that built wealth from nothing I can tell you’re teaching based of raw experience and not just regurgitating random information like many other teachers.
I'd love to see a follow up to this video, of what to do after you've saved the first £100k, best options for compounding, portfolio diversifications etc
Also, thank you Nischa for sharing that you lived with your parents! Most people don’t aknowledge help they get, I think it’s amazing you have shared this. Love your videos!
Don’t pick a job just for the money. Do something you’re good at, and you can easily do extra even if you don’t love it, as long as you maintain focus on your goals.
Not making upto a million before retirement is an unfulfilled retirement. I’m 54 and my wife is 50 . We are both retired with over $3million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on the FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early. Even till now, we earn weekly.
It’s comments like this that make young people terrified of retirement. Grand statements and generalising because that just happens to be working for you really don’t help.
Thank you so much for the transparency Nischa! I love your journey and relate to it especially working in middle office for a large investment bank right out of college! It was only once I left to a different company that I felt the significant pay increase as well 💕 keep sharing!
Hey Nicha I spent my early 20's working for famous chefs in Canada and it was an invaluable experience though I was broke the entire time. From age 24 to now 29 I have been an entrepreneur and investor. Ebay, FB Marketplace and a Canadian platform Kijiji. I run a goods store from my bedroom. A good month is around $6000 Cad and an okay month is $3500 I am investing in the S&P 500 in USD and CAD, TFSA, RRSP and High Yeild Savings account. Rn I will have about 1.5- 2 Million by age 55 and I turn 30 next year I feel like like I woke up just on time.
Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you katrina susan
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
1. can ask for an salary raise next year and cant really get an 2nd job 2. hmm, can save nearly 40%-50% of my salary (dont earn a lot tho) 3. placing the money into a place, where it compounds is the hardest (and wont lose money thru stock going down
as someone that hit that mark recently, i can say one other way is to look at what you waste money on, even the little stuff matters, like lets say you do the euromils for £2.50 and do the 2 a week, thats just 20 quid a month so seems like nothing, however over your working life (45 years) if you put that in a high yeild account of 5% (investing may return more etc etc) you`d save 11k of your own money and it would be worth 40k. fwiw if you looked at 8% return with investing over the same time period its 100k value, you can apply this to anything thats a fiver a week like your coffee, going for one less pint etc etc, the little tweaks can have large results given time,
I've had the most success investing in properties, but haven't had as much luck with the stock market. With my first $100,000, I'm still trying to determine the best approach for a second job. I own two rental properties, but the income they generate is still significantly less than what I earn from my primary job. I would need five properties similar to them to match my current salary, or I'd need a second job to supplement my income. I have a passion for luxury bags and shoes; they genuinely bring me joy. I'm willing to cut back on other expenses. My home is very minimalist, and I don't travel frequently.
This is fantastic advice. I've saved £150k from my full time job. I earn £83k (was on £50k last year) and aim to save/invest around £3k a month and I am still able to go on holidays, go to theatre shows, eat out etc. When you max out the ISAs where do you put your money? I get a bit stuck on that
How old are you if you don’t mind me asking? And do you pay rent/mortgage. Just curious as I’m on similar money (slightly less) and thought I was saving well but sheesh £150k is different gravy
@@C63Bez I'm 42 so prob older than you. I do have a mortgage and currently pay £690, will be going up in November so I'll be starting overpayments asap. You are doing great, just be persistent and consistent 😊
Hey Nischa, I have an interesting somewhat topical question- did you ever take a career break/time off from investment banking? Whether to travel, pursue a new avenue, or simply take a well deserved break? I feel more and more people are considering this, often to consider their next move.
Hi Nischa, I just found your channel and want to say Thank you for creating great content and sharing it with all us non bankers. You have a great gift for clear and on point communications.
I've managed my first 100k in 2 years (in my country's currency, but the value is the same). Although it was quick, it was still extremely hard. And I can say that yes, it's easier now. I'm not just talking about ability to multiply, but the fact you know exactly what to do next time. My way was similar - increasing main income, projects on the side, living below and compounding. I had success with everything, because I'm very cautious. I'm not going to do something that I'm not resonably sure that would work. It needs much more effort and time every day though.
i feel like barely any of your videos apply to me earning below 25k a year but they are great videos to get better understanding and generally entertaining to me
Here is my issue if you can call it that. We are 100% debt free, have an income of 250K a year. (wife still works) I was raised dirt poor like so many other Americans. I'm uncomfortable being comfortable. I always had to give something up to get something but no longer have to do that anymore. I find it difficult to buy things or enjoy this new freedom the past year and half. I'm 59 and wife is 62 and have a great retirement saved, awesome Investment portfolio and Pension coming in. How do i get past being frugal still and start to change the way we think after living and earning and building wealth for 5 decades+. Hard to think that we could go on a $15-20k vacation and not even notice it gone but my brain says don't do it you may need it someday. What can i do to help change that mind set?
Hi Nischa! What am doing to get to my $5k- 100k saving goal is my daughter got us a 100 envelopes saving Challenge bk in Oct.2023 and today is the 100 day Jan. 30, 2024. Didn't make the goal in 100 days, but am half way their. And it certainly makes you push and think of other ways to make income.
My partner and I did this by us saving my salary and living on hers. The only thing I spent on was fuel for my car and my pension contribution. If you can do that you have double the savings strength together.
Told my sister today about this great RUclips channel on finance I have been following for quite a while... turns out she's been following you already, too 😅 Thanks again Nischa for another great video and greetings from Berlin!
Great video! Just a couple of question regarding the alternative income experiments that you conducted: 1) How did you know when it was time to give up and move on? Sometimes persistance might be the key. Did you use a time cap or cap the experiment at a certain cost or some other method? 2) And how did you know that the cap you had set was enough to give the experiment a feasible chance? Perhaps you used arbritary limits but personally i find it hard to feel certain about when it is time to move on to the next experiment.
Although I'm on minimum wage, I have started investing, but my tax rate is 30% on interest. This makes any momentum feel slower :( I just hope it will pick up. I am throwing as much spare cash as I can into it while still leaving wiggle room for living expenses and very occasional treats
This is so valuable. Thank you thank you for putting content like this out. Your “knowledge is power” becomes “sharing knowledge is power” thank you for your transparency!!
Amazing content as always! Happy to see that you’re promoting a platform, made by Bulgarians, I’m Bulgarian too. ☺️ I’ve considered investing in stocks for the last year, as a next step of my investing strategy and this time I feel like committing to it trough your promotion link. ☺️
I'd love to see a video on failed businesses and going back to zero. I'm at that point in my life and it'd be great to see your journey for inspiration purposes.
Another Great video Nischa! Thanks for the motivation. You should be proud of you are doing. Can I ask what software you use to edit your videos? I would love to start a RUclips channel and one of my stumbling blocks is what software would be good in your experience as your videos are beautifully edited!
Hi i had to comeback to this video to ask a question. Ive been informed that investment banks are making loads of jobs redundant and they are reducing number of colleagues (in specific HSBC). Could you please make a video on this topic? - could you talk about all major investment banks too. Thank you!!!
👉🏽My free “Save your first $100k”tracker: nischa.me/personal-finance-tracker
🔥🔥✨
The email with the tracker download doesn't seem to be coming. I've tried 3 times now and still no email. Any ideas?
@@Homeboy321 it took sometime to work for me. I tried a second email address and it went to spam, see if it's the same for you
Sorry, my brain is slow… is this 100k into savings or into investing?
Been binging your videos. Love hearing what you have to say.
Thanks!
@@Homeboy321try again mine working at second try
Investing has been rather rewarding to me and I've learned that getting a good return is very much attainable if you know your way around it. Do not let anyone tell you it’s impossible to have a good retirement.
Not everyone is as lucky as you are you know. Hi how are you able to do it?
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $16k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finances. It’s all gambling.
Is he taking new clients? I'll be 56 soon I hope it's not too late. This whole stuff is just too complicated for me. I don't mind using some help.
Hermanw jonas that’s his gmail okay
Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
To the best of my knowledge, Mungers quote is from the early 90s. Meaning that the 100k he referred to, in todays value, probably is around 350k. Something to think about.
Thanks for that 😂
Actually the number would be more like around $220,000 -$230,000 but your point is well taken.
Most important is to start saving, and make it a habit.
The 100k number is completely arbitrary. The concept of compounding works exactly the same whether it is 100, 1000, 100k or a million. If you can only afford to put a tenner away each month, it's still going to take you 7 years (@ 8%) to get to a grand and then will reduce down accordingly in the same way as if you are putting 1k away each month will take you the same amount of time to get to 100k.
We see it so much on finance RUclips cos munger said it, while it is an important lesson about compounding the figure is completely irrelevant and is scalable in proportion to the amount people can afford to save.
Take that 100k and borrow high dividends etfs on margin and hold them forever. You can generate close to 5k+ a month in dividends and more if you let it compound.
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
Finding financial advisors like Sonya Lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
@@yeslahykcim I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you
Laila artine kassardjian is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Nice video! Please please please make a video of all your failed side hustles as you mentioned. It's important for people to understand that failure is just part of the journey
Yes, failure isn’t the opposite of success… it is part of it.
I will do!
@@nischathanks!
@@nischa thank you!
Thank you!
In an age where instant gratification often reigns, this sort of practical advice is what we need more of, especially for young adults like myself. It's about time we make saving cool again!
young adult bot 🤔
So true! The first $100k is the hardest because you don’t have compound interest working hard for you yet. It took me 4.5 years to hit a $100k networth. It took me 2 years to hit the next $100k.
preach! more people need to understand this and start ASAP
S&P 500?
@@mvcards20 yea a good portion of my portfolio is in the S&P 500. It’s diversified into all of the US publicly traded companies and some international index funds as well.
@@mvcards20 vanguard etfs is one option for passive income. im getting a nice dividend from VGS for this quarter, reinvesting to compound and buy more, have others as well to diversify..
I was aggressive but on a 60k salary and investing in new legal market. Still only available to half USA this stock will 10x in next 5 years. DraftKings. A compounded 1,000 a month for 5 years you can be multimillionaire. It still only in 20 states will be in 50 next 5 years. Look it up and good luck
A job should be there to learn or to earn, ideally both. Love that. Going to have to remember that one.
Anyone else here obsessed with Secret Pathway To Triumph? It's like discovering a secret treasure map for wealth!
This is a bot comment I’ve seen on multiple finance videos
Dude you are like legit empowering us young people about financial issues. I am a 31 year old guy learning a lot from your content.
You are not young.
You are definitely not young 😭
As if people here are saying 31 isn’t young…wow we really do life in an ageist society. 🤦🏼♀️🙄
Trust me guys, your 30s will be here before you know it and things won’t even feel any different. Then let’s see if you think 31 isn’t young…
31 is young!
Living below your means and watching your spending very closely is very important particularly in the current environment. Thanks for your wisdom as always Nischa 🙂
That's very interesting actually. The fact that you tried many other businesses on the side that didn't create positive results but still stuck to it and kept trying. That would make for a great video!
I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 270k from the S&P and invested with a Full service broker ... Until around 3 years ago we were 100% in the s&p after over 30 years.I'm retiring at the end of this month at 59, while my wife will retire next year at 54. We currently have 3.7 million in out tax deferred savings..
Main lessons:
1. Importance of the First $100,000
2. Increase Earning Potential
3. Investment and Assets
4. Persistent Exploration
5. Creative Living Below Your Means
6. Analyzing Expenses
7. Compounding and Investing
8. Set Clear Goals
9. Continuous Learning and Adaptation
10. Individualized Strategies
I appreciate the listings @dotpenji.
wow , thanks for listing
Thanks for this!
thanks for the insights
I am so guilty of not tracking my spending more strictly. As long as I’m net positive at the end of the month I would keep on with my routine. But I finally took the time to track and categorize what I spend my money on and the numbers seemed so staggeringly high. Just totaling up the Amazon purchases alone was the reality check I needed 😅 thanks for the continuous drip of knowledge and inspiration. Keeping the idea of saving and smart investing top of mind is a great way to help me be mindful of what I put my money towards.
I have to say that the first $100k is the toughest, it'll surprise you how easy it gets from there, i'm speaking from experience my wife and i managed to save it, we could have spent it on a lot of things i mean we could have gone on vacations but we didn't and funny enough didn't really start seriously investing until I was 30 back in 1998. Today, I'm 53 and have a decent $1.2M nest egg. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
@@harrisahmed3066 she surely goes by the name Lisa Rosa Cavanagh. do an online search to find her.
Congrats and amazing!! Question what is the percentage of that 1.2M Pre vs Post Tax?
Go on that vacation
You've missed out on living. Go on vacation! You will never get those years of your life back. Each to their own but I don't regret a penny of the fairly substantial amounts we've spent on family holidays, the good times and memories last a lifetime.
@@shellyperera2010 especially with your aging family :'(
Great video! And thank you for being honest about the advantages you’ve had on your financial journey 😊 many other creators fail to mention this, and make it seem like it’s easy to save this amount of money. So thank you for acknowledging the different points of departure we all have.
I would love to see the 'failed businesses' videos. That would make me feel so much better about my attempts . . . Once again, thank you so much. The way I saved my first 100,000 was by automatically contributing to my 403K account every month and it just took off from there. Making it automatic was key for me, especially when young and undisciplined. Thank you, Nisha.
I bought an older year box truck (I'm a welder) so I have access to unlimited steel I have formed metal working skill over the years and I have converted this thing comfortable enough to live in rent free all the extra money is either going towards saving or investing it's possible
Nice to see other ppl in this chat talking about building wealth. 100k is something I’ve set my sights on cause when I broke it down over x amount of years it is soooo attainable. I’m going to screen shot my balance when I get there and use as motivation.
I’m at $84,000 now.
Good job, you can do this!!
As a NHS doctor I wish you good health ... May you keep delivering such inspiring lectures.
I’m on the cusp of getting my 1st home, I’m looking to get it and rent it and live with my parents for a few years as you did.. using tax defo my accounts to increase my deposits and also putting aside for small things I like to have(investing in watches) .. thank you for this video really boosts moral when you confirm that my thinking is correct ❤
So glad to have found you, Nischa. You talk so much common sense. You wanted to know so here goes: I got out of the rental scene at a very young age (23, I'm now 59) and bought a supreme handy-man special home for only 29K in 1987. This forced me to learn plumbing, electrical work, sheet rock, flooring, and everything else because my house needed everything. I got my first decent job (25K back then) a year later and contributed 15% of my salary to a company 401K and an equal amount into a Roth IRA. When I transferred jobs to another state 5 years later my realtor advised me that the bank approved me for a 130K house so I bought a 69K house and paid off the mortgage in about 7 years. The mortgage payments now went to my Roth IRA and the stock market. I never had cable TV, my phone plan is only $14 a month, I never had a car payment, and I rarely had to hire anyone to do anything because of all the repair skills I gained along the way. I also learned how to tune and rebuild pianos along the way a had a successful side business for 10 years of that time. I love your videos. I hope to keep learning.
This is amazing! Thank you! I love that you still have your "day job" and doing YT on the side. This way your advise feels a lot more applicable (to me at least). I'm someone who wants to continue doing my day job while still looking for an additional source of income.
Hi Nischa,
Please can you do a video/s on your journey of buying your first property and everything one should know. I'm in the exact same position now so would find this really helpful. ❤❤
I’ve got a few property ones coming up :)
PLEASE make the failures video. So helpful to see how others have tried, experienced challenges and overcome.
just turned 20 this june, currently have over 50k saved in the bank and other investments which make my net worth add up to around 80k still at home so my expenses are extremely low, my total monthly expenses are less than 7% of my monthly income.
As soon as I had 100k I bought a house. It was something I always wanted to do. Now it will be easier to buy my next house. I'm not doing it to get rich quicker but to live my preferred lifestyle. To me this is just as rewarding.
you could have invested it and made another 100k within a couple of years and then bought a house. but now you are stuck paying the principle and interest on a mortgage. you could have taken some of the dividends from your investments to offset your interest on the mortgage in an offset account or in extra repayments, or let it continue to compound by reinvesting the dividends. either way, buying the house first made it harder for you to get the next 100k into investments that will earn passive income. i dont think you have comprehended the power of compounding at 100k. sure its not enough to live off, but you can get to 1 million this way within 30 years easily just reinvesting the dividends. At that point you will be able to live comfortably just off the dividends and no longer need to work. Or continue to reinvest it and set your bloodline up.
@@pseudocode1 Yes, I am stuck paying the "principle [sic]" and interest (
@@spelonberrycare to explain how you have such a low interest rate? When the average is 4.79% for a 5 year Mortage in Alberta.
You stated you have room mates. Are they contributing to paying off your mortgage?
What are your monthly repayments in order to pay off this in 5 years?
@@pseudocode1 Sorry, I'm too busy decorating my house that I bought in 2021 when interest rates were 2% to explain
@spelonberry cool story. nice to see young tryhard youtubers being so humble. not the only one decorating their house. you really think its a flex. oh wait my quarterly vanguard etf dividends just came in, im just going to make my free mortgage payments with it excuse me.
Thank you Nischa! ‘A job should be there to learn or to earn, ideally both,’ is a great quote and I wish someone told that earlier in life. When saving $100,000 you mean through a saving account or through a index funds or both?
Both! It can be retirement and non-retirement accounts
I’ve rented out two of my bedrooms and converted my living room into a bedroom for myself in my early 20s. 😂
I've managed to save £4k and that's going to be my emergency fund. Next plan is to start a side huslte... I already have my first client. Thank you Nischa
Can I ask what side hustle is please?
Side hustle is a job you start on the side with your regular job with the hope that one day it can replace and surpass your main job
It took me 7 years to make my first $100,000. I think the first 2 of those years was me trying to figure out how to save more efficiently. Now I am on track to making each $100k every 3 years.
Great video Nischa! I've just started this goal, as I live with my parents, my idea is to save around 20k into an index fund before moving. I'm basing it on a 10% average of over 10 years, with a yearly deposit of 2.5 to 3K thereafter, the initial deposit will be difficult but once this is achieved, the yearly deposits are possible whilst still living a good lifestyle. Time also plays a big factor for the compounding to do the hard work!
10% over 10 years is quite ambitious. 7-8% more achievable. Better to err on the conservative side imo.
I agree living below my means helped me to achieve my financial goals. Also, I improved my understanding what are my “needs and wants.” Lastly, paying myself first before I paid my monthly obligations. Thank you for your presentation today.
Definitely would love a video talking about those things that didn’t work as side hustles and why.
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
how do I get in touch with this consultant that assist??>>>>
Thanks for these recommendations.....,,,
Thank you! I'd love to see a video on failed businesses you've started, please! Very curious as I research side hustles quite a bit.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
You are spot on with your advice, as someone that built wealth from nothing I can tell you’re teaching based of raw experience and not just regurgitating random information like many other teachers.
Love your content! It keeps me driven and motivated. It also helps me stay on the right track for my goals.
I'd love to see a follow up to this video, of what to do after you've saved the first £100k, best options for compounding, portfolio diversifications etc
Love the structure to this... noticeably different
And love you used the word Mindful too 😅
Also, thank you Nischa for sharing that you lived with your parents! Most people don’t aknowledge help they get, I think it’s amazing you have shared this. Love your videos!
Great video as always. Also really enjoying the advice and extra info from the emails.
Glad you’re enjoying the emails. Thank you!
Don’t pick a job just for the money. Do something you’re good at, and you can easily do extra even if you don’t love it, as long as you maintain focus on your goals.
One word: Inheritance
Not making upto a million before retirement is an unfulfilled retirement. I’m 54 and my wife is 50 . We are both retired with over $3million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on the FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early. Even till now, we earn weekly.
It’s comments like this that make young people terrified of retirement. Grand statements and generalising because that just happens to be working for you really don’t help.
Do u plan starting living at 80?
Sometimes if you’re focusing on a business, buying an office work space and just using it for living too may be the best short term option
is that legal?
Brilliant Nischa. Great tips and loving your Vlogs 👌🏻
I'm just saying that your channel is one of the few ways that i have Notification turned on:) Thank you for your high-quality contact very informative
Thank you so much for the transparency Nischa! I love your journey and relate to it especially working in middle office for a large investment bank right out of college! It was only once I left to a different company that I felt the significant pay increase as well 💕 keep sharing!
3:46 “Creatively live below your means!”
Hey Nicha I spent my early 20's working for famous chefs in Canada and it was an invaluable experience though I was broke the entire time. From age 24 to now 29 I have been an entrepreneur and investor. Ebay, FB Marketplace and a Canadian platform Kijiji. I run a goods store from my bedroom. A good month is around $6000 Cad and an okay month is $3500 I am investing in the S&P 500 in USD and CAD, TFSA, RRSP and High Yeild Savings account. Rn I will have about 1.5- 2 Million by age 55 and I turn 30 next year I feel like like I woke up just on time.
Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you katrina susan
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
I'm new at this, please how can I reach her?.....
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
KATRINASUSAN...That's it
Thinking about your biggest costs and understanding how to get the same thing for less is SOOO key
This is amazing. “How to build wealth”
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
1. can ask for an salary raise next year and cant really get an 2nd job
2. hmm, can save nearly 40%-50% of my salary (dont earn a lot tho)
3. placing the money into a place, where it compounds is the hardest (and wont lose money thru stock going down
I'm learning this to educate myself & my child. Thanks for this video.
as someone that hit that mark recently, i can say one other way is to look at what you waste money on, even the little stuff matters, like lets say you do the euromils for £2.50 and do the 2 a week, thats just 20 quid a month so seems like nothing, however over your working life (45 years) if you put that in a high yeild account of 5% (investing may return more etc etc) you`d save 11k of your own money and it would be worth 40k. fwiw if you looked at 8% return with investing over the same time period its 100k value, you can apply this to anything thats a fiver a week like your coffee, going for one less pint etc etc, the little tweaks can have large results given time,
I've had the most success investing in properties, but haven't had as much luck with the stock market. With my first $100,000, I'm still trying to determine the best approach for a second job. I own two rental properties, but the income they generate is still significantly less than what I earn from my primary job. I would need five properties similar to them to match my current salary, or I'd need a second job to supplement my income. I have a passion for luxury bags and shoes; they genuinely bring me joy. I'm willing to cut back on other expenses. My home is very minimalist, and I don't travel frequently.
same. I travel and buy luxury bags twice a year and i would not change anything about it. I work and save like crazy to travel and buy bags.
omg, im loving it!!! "If you fail, then fail fast and fail forward." So much dense wisdom!
This is fantastic advice. I've saved £150k from my full time job. I earn £83k (was on £50k last year) and aim to save/invest around £3k a month and I am still able to go on holidays, go to theatre shows, eat out etc. When you max out the ISAs where do you put your money? I get a bit stuck on that
How old are you if you don’t mind me asking? And do you pay rent/mortgage. Just curious as I’m on similar money (slightly less) and thought I was saving well but sheesh £150k is different gravy
@@C63Bez I'm 42 so prob older than you. I do have a mortgage and currently pay £690, will be going up in November so I'll be starting overpayments asap. You are doing great, just be persistent and consistent 😊
At that level of salary, if you don’t mind tying up the money, pensions are the no 1 option.
@@davidhumphries3614 agreed definitely. 🙄
Perhaps high interest savings accounts. I put mine in Tandem. They offer up to 5% interest a year. If not, maybe dividend stocks
I find these vids so valuable Nischa. You’re a natural in front of the camera and are a font of knowledge. Thank you for sharing your wisdoms. 👌🏽
Great video's Nisha. I love your openness about sharing your personal journey and finances.
Hey Nischa, I have an interesting somewhat topical question- did you ever take a career break/time off from investment banking? Whether to travel, pursue a new avenue, or simply take a well deserved break? I feel more and more people are considering this, often to consider their next move.
Just got to know this channel and i already love it. Thanks for the great advice.
Hi Nischa, I just found your channel and want to say Thank you for creating great content and sharing it with all us non bankers. You have a great gift for clear and on point communications.
Failing forward... that's a great concept, I like that line of thinking.
I've managed my first 100k in 2 years (in my country's currency, but the value is the same). Although it was quick, it was still extremely hard. And I can say that yes, it's easier now. I'm not just talking about ability to multiply, but the fact you know exactly what to do next time. My way was similar - increasing main income, projects on the side, living below and compounding. I had success with everything, because I'm very cautious. I'm not going to do something that I'm not resonably sure that would work. It needs much more effort and time every day though.
Making your first $100,000 is easier than saving your first $100,000. One of the many challenges I've faced on this journey. Great Video!
Absolutely love your content. ❤❤❤
Your starting point was inches away from the finish line.
Hi what are your thoughts on offshore investing? Currently looking into this as i find its more favourable in interest rates.
i feel like barely any of your videos apply to me earning below 25k a year but they are great videos to get better understanding and generally entertaining to me
I’m glad that worked out for you and I know people that it’s worked out for, but that doesn’t mean it’s gonna work out for everybody.
Here is my issue if you can call it that. We are 100% debt free, have an income of 250K a year. (wife still works) I was raised dirt poor like so many other Americans. I'm uncomfortable being comfortable. I always had to give something up to get something but no longer have to do that anymore. I find it difficult to buy things or enjoy this new freedom the past year and half. I'm 59 and wife is 62 and have a great retirement saved, awesome Investment portfolio and Pension coming in. How do i get past being frugal still and start to change the way we think after living and earning and building wealth for 5 decades+. Hard to think that we could go on a $15-20k vacation and not even notice it gone but my brain says don't do it you may need it someday. What can i do to help change that mind set?
Hi Nischa! What am doing to get to my $5k- 100k saving goal is my daughter got us a 100 envelopes saving Challenge bk in Oct.2023 and today is the 100 day Jan. 30, 2024. Didn't make the goal in 100 days, but am half way their. And it certainly makes you push and think of other ways to make income.
You’re content is so helpful, thank you !
The first ten thousand is the hardest once you hit that everything goes into cruise control and the journey gets easier 😁
My partner and I did this by us saving my salary and living on hers. The only thing I spent on was fuel for my car and my pension contribution. If you can do that you have double the savings strength together.
I’m on €74400 ! It’s been years
creating wealth is a skill and some people are better at it than others
Told my sister today about this great RUclips channel on finance I have been following for quite a while... turns out she's been following you already, too 😅 Thanks again Nischa for another great video and greetings from Berlin!
I am at an age now, I am very relaxed about money. I made enough and saved enough in my earlier years. I was not like you at all I should have been.
Great video!
Just a couple of question regarding the alternative income experiments that you conducted:
1) How did you know when it was time to give up and move on? Sometimes persistance might be the key. Did you use a time cap or cap the experiment at a certain cost or some other method?
2) And how did you know that the cap you had set was enough to give the experiment a feasible chance?
Perhaps you used arbritary limits but personally i find it hard to feel certain about when it is time to move on to the next experiment.
Although I'm on minimum wage, I have started investing, but my tax rate is 30% on interest. This makes any momentum feel slower :( I just hope it will pick up. I am throwing as much spare cash as I can into it while still leaving wiggle room for living expenses and very occasional treats
Brilliant video Nisha!
New fan. Adore your videos, Nischa. Just binged about seven of them in one go.
This is so valuable. Thank you thank you for putting content like this out. Your “knowledge is power” becomes “sharing knowledge is power” thank you for your transparency!!
i lost everything during the pandemic, and I can't seem to catch a break, any advice on how to start over at 50 yrs old ? thanks 😥
Amazing content as always! Happy to see that you’re promoting a platform, made by Bulgarians, I’m Bulgarian too. ☺️ I’ve considered investing in stocks for the last year, as a next step of my investing strategy and this time I feel like committing to it trough your promotion link. ☺️
I'd love to see a video on failed businesses and going back to zero. I'm at that point in my life and it'd be great to see your journey for inspiration purposes.
I agree that money is a great tool for the life you want. Great video! It's interesting to see the different paths to take to get positive outcomes.
Another Great video Nischa! Thanks for the motivation. You should be proud of you are doing. Can I ask what software you use to edit your videos? I would love to start a RUclips channel and one of my stumbling blocks is what software would be good in your experience as your videos are beautifully edited!
My editor uses DaVinci or FCP :)
Wow thanks for sharing Nischa! You are the best!
Maybe I missed this, but does money that you've already invested count towards that first $100,000?
Hi i had to comeback to this video to ask a question. Ive been informed that investment banks are making loads of jobs redundant and they are reducing number of colleagues (in specific HSBC). Could you please make a video on this topic? - could you talk about all major investment banks too. Thank you!!!
Thank you for setting, such a nice video and keeping us updated