Health yes! I'm 41 and realized that I had to make some changes to keep myself healthy. I definitely saw my health starting to take a left turn. Great quote i saw the other day. "Take time for your wellness or you will have to make time for your illness "
How to retire by 40. Step One: Get a high income skill that pays according to your skills not per hour. Step Two: Cut your expenses and live below your means. Step Three: Save and invest most of your money. Shoot for saving 20-50% of your income if possible. But if you can only do 10% then do that. Step Four: Grow your knowledge so that you can do better in personal finance and investing.Step five:Get a Financial advisor(obviously) Step six: Let time work for you. Start as early as possible, every year makes a huge difference. "The best time to start investing is yesterday, the second best is today."
Unfortunately we haven't been able to save as much as possible due to some challenges and unforseen circumstances . At 40 years old we started putting the pedal down. 30% going into maxing out 401k 6% match and 2 Roth IRAs. Thanks guys.
I agree. I felt like I was finally on solid financial ground in my early 40s. I didn't let off the pedal though. I went in a little harder and put my raises in salary toward max 401k and getting to 6 to 9 months emergency fund. I'm about to hit 50 and this decade is all about paying off the house!
I know I'm late to this video, but just wanted to say that you guys are awesome. Love these videos. Thank you for making this knowledge free for everyone.
I bought a home for $377k when I was 28, learned how to tile, renovate counters, paint… I lived in the house for 2 years and sold it for $700k. That’s how my journey started. I’m 48 now and I’m completely debt free and own a millionaire dollar house! You can do it! I didn’t graduate from a fancy college, didn’t come from money. Learn basic contractor work and buy a fixer, live in the house while you upgrade the cabinets, bathrooms, etc. Again, you can do it.
Within the first 2 min….. I can ascertain that this is a great video. Thank you for sharing this wisdom. I’m curious and have a question for you gentlemen, what is the source of your wisdom and your info?
I want to get my kids some finance books for Christmas because I love to teach them about investing, interest, debt, etc, but I can't explain it in a way they understand. Our daughter is 7 years old and twin boys are 4 year olds. What do you recommend? LOVE your channel! We've been meeting with our financial planner since we first got married and it was the best decision we ever made!
Play monopoly with them, you will see what kind of financial behavior they have while paying. Teaches them to invest in property, earn passive income and paying taxes. There are so many versions even 5below sometimes sales them.
Got a question for you tax experts. If i took my roth IRA and bought a rental as a Real estate investment trust. Would all proceeds be tax free after im 59.5.
Great stuff as always. New FIRE acronym for Brian: Financial Independence "Relax" Early! What about a new angle for a mini-series? Call it "The Family Guy" and address specific tips for that muddy middle age with kids. Suggestions on how to use those cute little tax deductions best
Good advice. Too many people overlook health. If you are in poor health, you wont get as much enjoyment from life or your wealth! I'm with you on FI but not RE.
You guys have a fake spammer copying your channel name and icon photo trying to hit people up with bitcoin. I reported them as spam and blocked them. FYI.
I just bought my dream house this year. It's big, it's expensive, and it's on a lake. The problem is that while it's my dream house, it's not my wife's dream house. She literally wants a mansion. In spite of the fact that this home is 5 bed/5bath, 4200 square feet, in the best school district, with a large yard and on a lake, she still talks about more.
Why does she want a mansion? To show off her status? I encourage everyone to take a serious look at themselves to find out what makes them tick and what makes them happy. I hardly doubt luxury items bring long term happiness for most people.
@@KRscience I agree, now tell her that......ROFL In all honesty, we both grew up poor and we are doing very well now with a seven figure net worth. I bought my dream house this year and she got her dream car. We waited until we were very well off. She just has bigger dreams than me.
My parents bought a mansion. It did not make them happy. They divorced and became broke. Had they lived life a little more humble, I believe things would have gone differently. Everyone is different but I don’t believe having more than you need will ever make you more happy.
This channel had grown 25% since i subscribed keep it up
I really feel they can condense it to half the duration at most times
Health yes! I'm 41 and realized that I had to make some changes to keep myself healthy. I definitely saw my health starting to take a left turn.
Great quote i saw the other day. "Take time for your wellness or you will have to make time for your illness "
How to retire by 40. Step One: Get a high income skill that pays according to your skills not per hour. Step Two: Cut your expenses and live below your means. Step Three: Save and invest most of your money. Shoot for saving 20-50% of your income if possible. But if you can only do 10% then do that. Step Four: Grow your knowledge so that you can do better in personal finance and investing.Step five:Get a Financial advisor(obviously) Step six: Let time work for you. Start as early as possible, every year makes a huge difference. "The best time to start investing is yesterday, the second best is today."
impressive. I myself am pretty much focused on building my dividend portfolio.. it's pretty slow but i'm in for the ride!!
I took a trade this morning and I literally said "this is not trading like a spoiled brat lol
hi i'm new to this please any advice for a retiree who would like to make huge ROI from a business?
Hiring a financial advisor is a waste of money. I get free advice on RUclips.
@Gangsta Guy you get basic knowledge on youtube
Doing this in my 60s. I am going to be very well off at 100.
Yes, the financial breathing room in your 40s. In my 20s I was just in survival mode.
39 and shooting to hit a mill net worth by 45. Goals and a plan.
Stick with it , it happens before you know it
@@kckuc310 thanks 💪🏾
im in a similar boat. Almost 39, but I was just hoping to hit a million at 59, then hoping to retire from regular 9-5.
Woohoo!! Congratulation young man! Keep up the good work
how much is your NW tied up in house? How much in retirement? when you hit 45
Unfortunately we haven't been able to save as much as possible due to some challenges and unforseen circumstances . At 40 years old we started putting the pedal down. 30% going into maxing out 401k 6% match and 2 Roth IRAs.
Thanks guys.
I agree. I felt like I was finally on solid financial ground in my early 40s. I didn't let off the pedal though. I went in a little harder and put my raises in salary toward max 401k and getting to 6 to 9 months emergency fund. I'm about to hit 50 and this decade is all about paying off the house!
Man you guys are so close to 100K subscribers. So close!
Best thing he said was Stealth Wealth.
I know I'm late to this video, but just wanted to say that you guys are awesome. Love these videos. Thank you for making this knowledge free for everyone.
Thank you for giving me some hope.
A dilbert cartoon said the same advice you gave.
"If you keep looking ahead you can never be happy where are."
I’m 51, scraping by on social security disability and have $0 in savings. I would love to be a millionaire and live comfortably for a change.
That money guy channel is fake trying to copy this real money guy original channel... Don't believe bitcoin spam. I reported them as spam and blocked.
I bought a home for $377k when I was 28, learned how to tile, renovate counters, paint… I lived in the house for 2 years and sold it for $700k. That’s how my journey started. I’m 48 now and I’m completely debt free and own a millionaire dollar house! You can do it! I didn’t graduate from a fancy college, didn’t come from money. Learn basic contractor work and buy a fixer, live in the house while you upgrade the cabinets, bathrooms, etc. Again, you can do it.
I plan on staying in the workforce until 70 years old to give myself a solid 30 years....haven't saved enough, but was on a lot lower income
Amazing video, you are my go to channel for finance
Within the first 2 min….. I can ascertain that this is a great video. Thank you for sharing this wisdom. I’m curious and have a question for you gentlemen, what is the source of your wisdom and your info?
I want to get my kids some finance books for Christmas because I love to teach them about investing, interest, debt, etc, but I can't explain it in a way they understand. Our daughter is 7 years old and twin boys are 4 year olds. What do you recommend? LOVE your channel! We've been meeting with our financial planner since we first got married and it was the best decision we ever made!
Play monopoly with them, you will see what kind of financial behavior they have while paying. Teaches them to invest in property, earn passive income and paying taxes. There are so many versions even 5below sometimes sales them.
Stealth wealth 🔥
Got a question for you tax experts. If i took my roth IRA and bought a rental as a Real estate investment trust. Would all proceeds be tax free after im 59.5.
Great stuff as always. New FIRE acronym for Brian: Financial Independence "Relax" Early! What about a new angle for a mini-series? Call it "The Family Guy" and address specific tips for that muddy middle age with kids. Suggestions on how to use those cute little tax deductions best
Good advice. Too many people overlook health. If you are in poor health, you wont get as much enjoyment from life or your wealth! I'm with you on FI but not RE.
You guys have a fake spammer copying your channel name and icon photo trying to hit people up with bitcoin. I reported them as spam and blocked them. FYI.
We are doing the same thing 🙄 - have the content team seeing if there is more action to take 👍
Army of dollar 💵 =Financial security 👍🏿👊🏿
I turn 40 next week and have about 52000 in a 403b how much do I need to save to get to a million dollars by 67?
Start listening at 16:10 to get an idea. You would be slightly less than the $780/month because you are not starting at zero.
I just bought my dream house this year. It's big, it's expensive, and it's on a lake.
The problem is that while it's my dream house, it's not my wife's dream house. She literally wants a mansion. In spite of the fact that this home is 5 bed/5bath, 4200 square feet, in the best school district, with a large yard and on a lake, she still talks about more.
Why does she want a mansion? To show off her status? I encourage everyone to take a serious look at themselves to find out what makes them tick and what makes them happy. I hardly doubt luxury items bring long term happiness for most people.
@@KRscience I agree, now tell her that......ROFL
In all honesty, we both grew up poor and we are doing very well now with a seven figure net worth. I bought my dream house this year and she got her dream car. We waited until we were very well off. She just has bigger dreams than me.
My parents bought a mansion. It did not make them happy. They divorced and became broke.
Had they lived life a little more humble, I believe things would have gone differently. Everyone is different but I don’t believe having more than you need will ever make you more happy.
@@HalfEatenMedia
So are you suggesting buying a mansion leads to divorce???
That is ridiculous and false.
This videos are great but soooo long!
That’s what she said
Buy term insurance in your 20s and not 40s
Lik