I started investing late last year. Whenever I read books and articles that have graphs telling me Suzy started at 18 with $x and Tommy started at 25 with $x I skip it. I'm far older and don't make much and don't care, so I skip those parts. The point for me is improving my finances and not beating myself up.
Yeah, there really needs to be more out there for people starting mid-game in their 30s or 40s. Too many books focus on 20s or being completely screwed in your 50s.
I skip those types of examples too--they make my stomach sink. Even if someone is in their 60s or older when they finally get a clue, they could still see 30 years of benefit. I started investing a year ago and am amazed at my results. I wish I'd focused on it sooner but if the results hold I'll soon be in great shape.
Rose, you are a GEM!! Doesn't matter that this video wasn't "info-based" like your other videos. This is an important topic. #2 Comparisonitis #3 Resourcefulness and #4 Multiple little streams combine to create a raging river were especially impactful points to me. Thank you.
Keep up these types of videos. Investing/personal finances can take up so much emotional energy. Therefore learning these underlying beliefs was really helpful for my own thought processes.
I bought a lavalier mic for 10$ on amazon. I record the audio separately on my phone (voice memos) and put it as a second layer over the footage when I edit my videos. Sound is great!
Rose just needs to get a little mic that attaches to her shirt, then it will be fine. There will still be some slight echo from the reflective surfaces in her room, but it will be much less than now.
I have been following you in the past weeks. I am happy to see you are trying to be honest with everyone and with yourself. Sometimes, many of us need to know that we are not the only ones thinking or feeling the same way. Keep it up, girl!
Rose 🌹 just read your email on #George Floyd and I was just saying I’m not understanding why some You-tubers are avoiding the elephant in the room, and BOOM 💥 you did... made me realize who I’m really following- I was really impressed. #Rose is still a 🌹
@@itsrosehan Perhaps if BLM came to your place of business and looted it destroying your livelihood and community (mostly a minority community I may add) targeting and tearing down your way of life (business) that you have built over the past forty years you would have a different perspective on the BLM looters.? Then to ask people to support BLM protestors (who are being paid to loot) literally there are paid protestors in my community. Sadly you know enough about this to believe you are correct when clearly you lack perspective and all the information. BLM supports the destruction of my livelihood despite the fact that I had no stake in the death of Mr. Floyd or have ever acted in a racist manner. Nothing like jumping on the bandwagon to monetize on a crisis. I support all lives, races, religions, and people. I would never take an extreme example and use it to stereotype and target other races or peoples so that I could justify looting innocent minority businesses, belongings, homes, cars, etc. Then publically call upon my youtube followers to financially donate to that cause. Rose, I have followed your channel for a long time. It was hard to click on your video today.
@@joaquingonsalves11 The question is what do you think should be done about police brutality and I see nothing about that in your comment. You may experience some interruptions to your livelihood every now and then from social unrest, but for many blacks and minorities, they experience inequities from the time they are born and throughout their entire life. So you can understand if they are more frustrated and ticked off than you think they should. Fortunately, we have a system of law and order that has worked for centuries. These social riots have had little impact on the investing world. Stock markets have continued to grow in spite of them. You should thank Rose for steering in the right direction with her channel. Speaking of monetizing her channel, I wonder why there are no ads in her videos.
Joaquin Gonsalves if that’s your mindset then you deserve to have your business ruined 😂 these people are just screaming to be heard for once. plus, majority of these “looters” are just random people of the public taking advantage of the riots. don’t blame the protestors lmao next time bring facts or block her if you don’t want to support her anymore
Do you know anybody that is not horrified by what happened to Floyd? No because that is something that easily everybody can agree is unacceptable. Nobody except for a minute minority believe that black lives don’t matter. However the reason I am now unsubscribed from Roses channel is she calls for donations to BLM. If she has actually been to their website then she is knowingly supporting an extremist group that believes the police should be defunded. BLM hides behind the name pulling in money from naive liberals with the goal of disrupting and tearing down our society. I can’t get behind that.
Rose 🤩 Thank for these tips, I really needed to hear the odd-numbered ones 😆 Definitely gotta check out Burning Man for myself! Curious to know more about your Grand Canyon experience as well!
Great content as always. Btw the bible says a lot of things we may not like but God knows best. Nothing wrong with having a lot of money but we should not fall in love with it or make it a God in our lives.
15:06 - "People who started investing when they were 12 wish they started when they were 2." I'm sure those 2 year old investors also regret not having the motor functions or internet connection to have opened a Vanguard account from the womb too.. Good stuff Rose, I enjoy the positivity you always bring in your videos!
I laughed ...and then realized grandpa started Vanguard and Franklin Templeton accounts for each of my kids when I was pregnant with them! I credit my husband's dad for getting my kids now in their 30s started. 💕
1. There is something wrong with me. 2. I should be further along by now. 3. It takes money to make money. 4. It has to be all or nothing. 5. It's bad to be rich. 6. I'm late to the game.
MountainMonkey2 yes, I’m a millennial and I’ve worked very hard to get to where I am. They need to shut up and educate themselves. Bernie won’t save them, he’ll destroy them.
My kids started investing at 0 months 1 day through 529 account, they will thank mom and dad later, 3 year old has 8k and 11 month old has 2k already, dayyyyum lol wish my parents did that
cashmonyz Just remember to actually teach your kids. My parents never formally taught me anything about money or finance despite them giving me a great college investment account when I was 5. For me, it was just watching what they did. Most kids will absorb not just what their parents say, but what they do. Do both and teach them how to be grateful as well.
I come from a family who has enough wealth that I went to college without a debt, a culinary art study, All my expences were provided by my dad who works as a tax officer. I focused on keeping my GPA high and never try to work a side job on my holidays. After I graduated, my dad died, and I found it very hard to get a job. And I feel ashamed, and very hard to stay debt free. But then I put my shame away and get to action 😀 And yes its true, it gets better
Kalitsa Nurhabibi hard times always teach us great lessons to make us better person. I’ve just recently also having financial crisis that have made me a new person.
Thank you sooo much for your content Rose! I am 22 and just graduated and I feel so scared about paying my student loans and everything :( you have inspired me to open a Roth IRA and start investing! I really don’t wanna live like every other American and live in debt. I hope I can get a fat 6 figure net worth like you someday!!
Making money is all about being resourceful and open minded in addition to taking rapid action. You know what they say, action takers are price makers.
Yes I totally agree! Even if you have bills and other things to pay off I started to save thousands of dollars by just putting away $30 each week into my savings account and it definitely helped me save
Nicole Minabe Years ago I had only 200 in my checking account and only 1,000 in my savings. I made up my mind to have more. I did only two things. Spend 5% to give to others whether a charity or otherwise, and save at least 10% net pay. Now I have half a million in investments, and several thousand in both checking and savings. This was my easiest budgeting method that actually worked.
@@taoist32 WOW! That is so amazing!!!! That is such a huge accomplishment and the fact that you completely changed your life around! You should make videos about that :)
Nicole Minabe Haha. Thank you. No need to make videos. Anyone can do it and discipline is easy when you only have to do two simple activities that take less than five minutes to do. Of course, learning and experiencing how to invest takes more time. I think the key is to figure out the lifestyle you want. No one should be afraid to make the choice to save, give, and invest.
I listened to this video while I was doing the dishes, just like listening to a podcast. This one was so good, Rose! I really needed to hear this. Especially about the idea that "I'm not far enough along on my money journey".
"...I'm all about the tactics and head knowledge and strategies which I talk alot about on my channel but if you don't have the mindset to back it up, you're not going to take action on what you know and when it comes to personal finance and investing, ACTION is everything. Information is easy to come by, but ACTION is all that matters. Only ACTION is going to grow your bank account. Only action is going to pay down your debt and get your money working for you." Learning, reading, listening, watching, mean nothing until you take ACTION. I have had a whole lot a time/opportunity to learn from my mistakes and I am STILL learning from not taking action.
Matthew 19:24 And again I say to you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.” . Jesus was speaking of men who let wealth corrupt their morals. Christ wasn't against the rich and even the poor were held to the same moral standard (as God favors no man). Socialist/Progressive Christianity promotes the idea Christ was a Socialist but he wasn't. If Christ were to have a political label he would have been a Libertarian as he allowed people to make their choices, the choices they made would be judged on by God.
Probably the most crippling of these beliefs are "I should be further along by now" or "I'm late to the game". It's easy to give up with that mentality, thinking that one will never catch up. Time will pass, no matter what you do, so its better to start late than never!
OMG I needed to see your smiling face, to hear your general positive perspective outlook and to once again learn something new financially from you in this crazy time! Thank you!
Loved your points! However I wanted to add that I’m a Christian and attend church regularly. The Bible teaches us Love of money is root of all Evil not money itself. I was blessed that my dad understood this concept as well and he reiterated that teaching. He’s an entrepreneur who grew up poor on Al farm with no plumbing and picked cotton. He changed his life with knowledge and education. Our pastor also teaches Money is not evil and if God has blessed us with money, we should give and be generous with others. Sorry to get so lengthy 😂
Ashley H That is nice pastor is teaching about it. Most wouldn't touch the subject because they think or believe money is evil. But in reality they're pretty bad of managing money, the reason they can't talk about it.
Ashley H Love of money is not evil, it is greed that is evil. It’s ok to love money. Greed is an extension of insecurity within one’s self. The feeling of never enough leads to greed. Abundance flows when you feel everything you want is already yours.
ALSO, if you are religious, what people forget is holding your ministry accountable for where they spend your tithes. I remember my parents giving money to missionaries and them being conned from time to time.
@@JESSICA90484 That was a tough one for me as well, we are called to be good stewards of our money and that doesn't mean to just give to every preacher on tv who is asking for it....we must do our due diligence to be sure it is going to where they are saying it is going to. Great comment.
I'm a 33 year old living in NYC and only started investing more seriously a year ago. It's never too late to secure your financial future. It's only because I didn't have the guidance or willingness to learn about personal finance earlier in my 20s.
I only started looking into my finances with the extra time I've gotten since the shelter in place started and definitely relate to all of your points. Hope more people are able to see this so it can make a positive impact on even a few people
THANK YOU FOR ALL YOUR GREAT ADVICE!!! Where is book list you mentioned? I have paid off bills, but somehow do not learn my lessons and allow my credit cards spending, to creep back up! Maybe one of your suggested books might help; if I ever find list!!! I am very interested in investing, with my disposable income instead of fattening my credit cards bills!
I've binge watched most of your videos for the past few days. Your passion to help others is really inspiring. Keep up the awesome work Rose! Love your shows!
The way I see it is what can I do to put my future self in a better position than the current me. It really helped me change my habits across the board. Now I save money like a squirrel saves nuts 😂 Getting ready to do some investing in RE soon! 🎊 Love these videos keep up the great work! ✌🏽
WHAT A GENTLEMAN! KEEP UP THE GOOD WORK SIR! THANK YOU FOR BEING A GREAT PROVIDER TO YOUR WIFE, AS WELL AS SHOWING IN A PRACTICAL FASHION YOU REALLY DO "LOVE" HER!!!
I will be a millionaire net worth by my 2024 projections, age will be 38. If I include my wife net worth we will probably be there in 2 years but we separate our finances except for our joint account and we have a annual finance meeting to see where we both are and our financial goals for short term and long term
Thanks again i been telling my self to just take one step at a time and not get all worried or im a hurry I've been paying off debts raising my credit score and been able to save $ now I'm in the learning procress on how to invest in the stock market .just takes patients and determination
Dis·ci·pline ~ The practice of training people to obey rules or a code of behavior. Or The Marine Corps Version Dis·ci·pline ~ The instant willful obedience to all lawful orders, respect for authority and (here comes the most important part) 'Self Reliance' Focusing on your mindset really is essential. Great video. Thank you Rose 🌹
I loved this!! I was a believer in many of the myths you discussed. Maybe not a believer but they definitely lingered in my subconscious!! Thanks for putting them in to proper perspective!! BTW - absolutely love your channel!!!
Wow. Really hit home for me rose. Past 5 years off my life I've not gotten anywhere. Pride and shame put me in a bad place. I live at my parents right now even though I'm 26. But I'm working really hard picking up side work and I'm getting my life on track. I dont look like much but I'm in control of my life which makes me very happy.
My sister moved out a few years ago, but then moved right back in with my mom and me a year later... Shame and “keeping up with the Joneses” can tear you apart mentally (if you let it), but you save a bunch of money on rent by living with your parents :] Keep growing financially!
A good video would be showing different investing options with little money. I want to start investing, not only saving, but I can't afford 4k a month or so. Would be great if you could explain how to invest only 50-100$ a month and actually getting something by doing so. Explaining where & how (internationally, not only for US). Love your videos👍💰
Hello Rose. Another nice video. I really like hearing how you were able to get out of debt and get more involved with making money. Very inspiring! It's something I'm going to do more of next year when I'm retired and living overseas. However, I think people who are not financial experts and want, think or dream of retiring one day will get a major wake-up call when they find out (and its usually later on in life) how much they'll actually need if they want to retire. I know everybody has a plan, they all know what they're doing, they walk around with the attitude like a know-it-all, but the reality is you'll never know how much you're going to need until you reach your retirement age. For most it's going to be a hard punch in the gut! I was in my late teens in the early 80's. That's when the 401K's started. What started out as a tax loophole for big company's became a way of company's to eliminate there pensions and make their own employees responsible for there own retirement. Great idea--right! Put the employee in the position to play the market! Here's the problem: How many employees at ABC Tech are stock brokers? How many employees at XYZ Bio have the time to invest when deciding stock which option to choose from? What I'm getting at is the regular 9-5 worker is totally clueless when it comes to investing. They're exhausted after a hard day's work. They want to relax, recoop and get ready for the next day. I know. I've been there. I also attended those meeting HR demands that you attend (back in the day), which will explain the company that'll handle your retirement 401K. Rose, ask any one of your viewers: What's in your 401K plan (do you see names like Boeing, Amazon, Microsoft, Best Buy)? If the investment firm is Nationwide, Charles Schwab, or T. Rowe Price, where are those hard-earned dollars going? I bet you'll get a lot of IDK?!?! I know, I was one of them. Didn't have a clue. If you're not well educated on investing you're screwed. Trust me. Enough of that. I guess I want people to know: 1) If you really want to retire at 60 I hope you were investing about 30% of your paycheck from age 20 and haven't stopped & 2) Save as much as you can! The retirement boat leave the docks at age 20-25 and if your not on it you gotta lot of catching up to do. Some may never catch up at all.
Hey Rose! To speak to your #6: Yeah, I'm 52 years old now, and I'm just starting to get serious about investing. I wanted to be a 'wunderkind' of investing when I graduated college at 22, but everyone told me, "You need your money more now then you'll need it then (retirement age)" or "Your money will do more for you now than it will then." Damn, I believed them (!).....and I totally regret it but I love what you said about how we should get centered and leverage whatever we have at the age we are now to build wealth. It's really never too late....
Hi Rose, I've been checking out several of your vids, good stuff!!! Thank you 😊 I'm trying to get my awesome son and his lovely fiancé more into investing. She's understandably being hesitant. I'm going to tell her (both of them) about you, your channel and firstly THIS video. She's already on top of several of the things you warned about but getting some positive reinforcement is still a win and there's always room for improvement! After a few of your vids they might be ready for those books you recommended!!!! 🧐 Thanks A LOT !!!!! 😁
Woohoo! That's so awesome. Being able to get ahold of your finances is a great start. It's not about how much money you make, its about how much money you save :)
Hi Rose I'm very new to your channel thank you so much for your amazing advise I really take it in as of a fortnight ago I've saved enough and began investing. Started with buying some Precious metal always wanted to do it but kept holding myself back so very proud I've taken the step taking some form of investing action. I've also got a passive income from ad rev for my work on webcomics its not much every little bit counts. Once I've rebuilt $ for my investment pile I'll be looking into more investment opportunities I'm becoming interested in REITS. This is my progress so far. keep up the amazing content
The main mindset is to know you deserve money and excess income. With that knowing firmly established -- like right now -- you will spend less money than you earn, save and invest what is left over, and slowly grow your financial wealth. At the same time, you have to look at what else you deserve in life and achieve the mindset to attain it: your health, your creativity, your living atmosphere, your work or career, your social and spiritual life, every facet of life and living with which you are intimately connected. Money is only one of those things. The book, The 7 Habits of Highly Effective People and others like it would be helpful in this larger regard.
#1 "There's something wrong with me" having shame about mistakes, thinking/feeling you're unworthy of wealth #2 Comparing yourself to others #3 "It takes money to make money" #4 Taking an all or nothing approach to money #5 "It's bad to be rich" #6 "It's too late to invest"
Jejeje, 😅 I just told my mom #3 because I paid 400$ for an investing course and she said that was too much. I told her, I was investing in myself and that it takes money to make money. 😅
Makes no sense why would anyone in their right mind spend so much money on an investing course. A $100 for books and free content online is all one needs to make consistent 20% + annual returns as a long term investor.
Dang, I really needed this right now! Thank you! I struggle with combating ALL of these negative beliefs, so now I gotta check out the books you recommend on personal finance! :)
Thanks Rose! I am also one of those who are starting to get their finances in order late in life. I’ve been teaching my mom what I learned and she always says, “I wish I knew that growing up and raising you kids.” Your platform and social media these days is so important for folks like me who were never taught real life skills of managing money and investing for the future. I am so grateful for your content and you do an amazing job of explaining in laymen terms for newbies like me!
1) There’s Something Wrong With Me - 1:52 2) I Should Be Further Along By Now - 5:55 3) It Takes Money To Make Money - 7:40 4) It Has To Be All or Nothing - 9:42 5) It’s Bad To Be Rich - 12:30 6) I’m Late To The Game - 14:46
Hi Rose , Great video ....I think you nailed it on the head ....habits , habits , habits !!!! ...phycology has a major role in our individual lives , determining our actions !!! ...past , present and future ....learn from the past , be present in the now and just do it !!!! ....you go girl !!!! ❤️🙏
Well said Rose - money is not the only value creator as you illustrate by monetising your hard work with owning bricks and mortar. Neither do we always ask for the value we create - it costs nothing to ask and will also open your perspective on how the company rewards entrepreneurial and hard employees!
Not to be too harsh when I know you are trying to help but this kind of "feel good" stuff isn't useful. Lots of people got caught up in this "If you change your attitude you'll get rich" nonsense and this feels a little too much like that. I've seen your other videos so I KNOW you know more than this. Look I was $30,000 in debt and I was reading lots of books that said stuff like this and it got me nowhere. Then I read Total Money Makeover and it told WHAT TO DO. Not some self-help mental attitude mumbo-jumbo but a call to action, to do something AGGRESSIVE and DO IT NOW. I much prefer your videos that are about what to do and how to do it as opposed to what not to do and how not to feel.
Ecclesiastes 11:2 "Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land." Grace and Truth. God wants you to be rich financially, spiritually physically and emotionally. Fun fact The bible clearly tells people how to be rich!
Great video. I agree with you, it doesn't necessarily take money to make money. However it certainly helps to grow your wealth. It's like a snowball effect. An annualized 6% return on $100 is only $6 but on a $1 million portfolio it's $60,000. It takes small steps but if you keep at it, it's amazing how quickly you can grow your net worth.
Problem with money is that it takes too much time to make money sometimes. My wife is not attracted to super amount of money when she came from a poor family. Our parents' diamond ring was $10,000 30 years ago. It is now $300. So, my wife and I agreed to sell off the diamond ring. Woman likes diamond ring because they falsely believe it is an investment where that ring will worth $30,000 30 years later. It is now $300.
I'm IN my financial mistake. I don't have debt (paid off), have a 12 month emergency fund and have a savings rate of 50%. But I am way underpaid at my job. I know that. But I'm just unable to have a conversation about it or even look for another better paying job.
My wife and I concluded it is cheaper to retire on minimum wage than to work full-time as an engineer in a company like Broadcom, for example. It's not bad to be rich, but unfortunately, many in a Christian church look down on the poor and do not associate with them. I am somewhat jaded about church, but we want to go back to church. Since we are earning minimum wage, it is very hard to fit in any church. Not many know that being rich means that you basically buy stuff you don't need where you end up being a lot poorer. Since I am not working, I do take care of my family as a father. We do not have a nanny. A nanny is around $30,000 per year. I know many rich members spent that much for a nanny. $30,000 is almost half of an engineer's income working at Broadcom. When you work at Broadcom, you need to buy a secondary car for your housewife. My point is that when you pursue being rich, you will spend money on stuff when you can do it yourself. I am an engineer. When stuff breaks in my home, I always do my best to fix it. If I work at Broadcom, I do not think I will have the time to repair every appliance in my home. I have to hire someone to fix everything in my home when stuff breaks.Yes, the Bible made it clear that love of money is root of all evil. Being rich itself is NOT a sin because Joseph of Arimathea who buried Jesus at the tomb was rich and risked his own life doing this because he could also die on the cross himself for burying our God. I know it is counterintuitive. Many believe making money gives you the financial freedom to do what you want. What our family experienced is that being poor helped us spend more time with family who matters most.
people think when I made a lot of money, I became heartless because I do not support illegal immigrants. On the contrary, when I travel, I constantly buy things from the local people, donate money to charity and even bought my in-laws an apartment to get them OUT of the warzone (ukraine). My action will not burden the US taxpayer because of welfare and I made other people's lives better (including the country). One penny at a time.
Doesn't take money to make money? Oh come on. In your story to 'prove' this, you neglected to mention that the only way you could get a job with that company is because you spent hundreds of thousands on a college education! You think any poor-ass uneducated person can just waltz in to a real estate internship and get equity like that? You are really down-playing how hard it is to truly start from an underprivileged position. Yes, of course resourcefulness is an important part of the equation... but also... I don't care how resourceful you are, if you're truly starting with nothing, no money, no education, no familial safety net, good fricken luck! There's a reason why there are so many poor people in this world - and it's not for lack of resourcefulness! Go somewhere like rural India and you will see millions of highly resourceful people who have very few or no paths towards higher financial security for no reason other than that they are perpetually caught in a cycle of living day-to-day. That's 'grinding poverty'. Give some of these people a chunk of cash and some financial literacy, and I guarantee you most of them will find a way to turn that into a middle-class income. Look, I get that you have had a lot of success (AND LUCK), but you need to acknowledge more the role luck and privilege plays in the acquisition of wealth. Otherwise, all your discussion on 'limiting beliefs' and how 'easy' it is to achieve financial success is actually OPPRESSIVE and makes people who are actually victims of oppression feel like they are actually to blame for their own situation. Which is probably generally partly true, but also probably more true that their situation is a result of the society and environment they were born into - i.e. have no control over. Great channel though! Just wanted to give you some feedback. Sorry if this comes off as dickish :P lol
She's not going to say from 12... then you said "wish they started investing at... 2" So many pause worthy moments but that one made me LAUGH OUT LOUD. Way to bring the message home.
Yes i want to enjoy expensive clothes having money helps get you laid girls r attracted to it you really want to live it up when your young and hot i understand I'll need money when I'm old plus that's not guaranteed people die from accidents random act's of violence I'm young now
This is exactly why I setup auto transfers to savings, retirement Investments, student loan payments, and auto pay for my credit card. Now I don't have to rely on motivation or have emotions affect my finances.
Hi Rose. I'm a new subscriber since last month. I'm one of the people who started investing late. How late? 63 this year. I opened up a Roth IRA and a Brokerage account with Fidelity after seeing your video. Now I'm trying to budget my investing and savings to fit in my desire to retire (for the second time) in 5 years. Maybe you have a video on investing strategies for seniors? Btw...no guilt about investing late. I put two kids through college, one is a doctor now.
The parable of the rich man and the eye of the needle in the bible is one of the most misinterpreted sayings, along with money is the root of all evil, actual translation, the LOVE of money is the root of many evils, notice money in of itself isn't evil, it's putting money before everything else that makes it evil
So true! I just commented too on that as well. The love of Money is root of all Evil not Money itself. My father would reiterate that as well growing up and he also taught us to be generous.
Always I gain something from your videos. Still want you to make a small options course. As first it will sell and I would help promote it . Make it affiliate option for people driving traffic to your course. Consider making small videos or modules and in small steps you would have a good course worth 200 to 500 dollars with a group to meet each week maybe video chat for even 30 minutes. I would love it if you did something like that. So maybe dont make any videos just have group meetings trainings each week or 2 weeks. Sincerely, Evan
How applicable is this video for someone who is in later stages of life! Because by now, it's pretty likely to be able to relate to all 6 points! I've been practicing the 'drip' effect for years to pay down debt. Paying anything over your minimum payment, even $10, is money you will no longer pay interest on and bring the interest & principal down to a lower balance. I've started my investment strategy the same way. Am I going to actually miss $10 a week? And a couple years later, I have a few actively growing portfolios. Thank you for your passion & insight. I know people are listening and gaining confidence to finally take steps the always wished they could.
My negative opinion of rich people that now has slowly changed is that most of them are criminals. That's how they get rich. Of course that is not entirely true. Not all of them are criminals. Just 80% of them...that I called businessmen.
Excellent video Sister. Very misunderstood Scripture. Solomon among others in The Holy Bible were very rich. The key is not letting your money have you.
Rose, you shouldn't say coronavirus 6:08. I believe it causes RUclips to de-monetize your video as every other channel I know avoids saying the words even when they're talking about it (except news media)
Excellent advice! These are all beliefs that hold us back financially. Money is not evil. It's the love of money that is evil. Money can be used for wonderful things in this world. Also, we shouldn't dwell on our past financial mistakes. We should focus on the future. We can learn from our mistakes and get better.
Thank you Rose for this very entertaining and informative video. I've been feeling bad lately about investing because I never thought of it until now later in my life, but you've made me feel confident to move ahead and do so. I can't change my past so why dwell on it? I will now head toward a brighter future.
So basically change your habits because it DOES take money to make money unless your job skills pay you millions a year . For example. It takes MONEY to buy a stock that will either make you more money or not . I will agree with ,it doesn’t take a lot of money to turn it into more money . You can buy a 2 dollar stock that could turn into a 2400 dollar stock , just ask people that held amazon through the years
Number 5 is what I still struggle to shrug off my mindset to this very day and I do realize it’s very limiting.. maybe I got it from my culture or environment as I grew up.. But God damn it, it is OKAY to be rich!! Thank you for the encouragement! 🙏🏻
As someone who's starting out investing in my mid 40's, this was very encouraging and reassuring. Subscribed!
I started investing late last year. Whenever I read books and articles that have graphs telling me Suzy started at 18 with $x and Tommy started at 25 with $x I skip it. I'm far older and don't make much and don't care, so I skip those parts. The point for me is improving my finances and not beating myself up.
Yeah, there really needs to be more out there for people starting mid-game in their 30s or 40s. Too many books focus on 20s or being completely screwed in your 50s.
I too am starting late, and it's amazing to think that (had I known) with a few changes back then, my life would have been so much different now.
or 50's or 60's & beyond! LOL!!!
@@briangroves4124 me too! So depressing!
I skip those types of examples too--they make my stomach sink. Even if someone is in their 60s or older when they finally get a clue, they could still see 30 years of benefit. I started investing a year ago and am amazed at my results. I wish I'd focused on it sooner but if the results hold I'll soon be in great shape.
Rose, you are a GEM!! Doesn't matter that this video wasn't "info-based" like your other videos. This is an important topic. #2 Comparisonitis #3 Resourcefulness and #4 Multiple little streams combine to create a raging river were especially impactful points to me. Thank you.
Keep up these types of videos. Investing/personal finances can take up so much emotional energy. Therefore learning these underlying beliefs was really helpful for my own thought processes.
I started investing and started to question every penny i spend if i can make it cheaper 🤣
This is awesome! I'm financially independent, but I share your vids to many of my friends. SO GOOD
You should get a better mic because your content deserves it, keep up the good work.
Working on improving the audio 😅 Thank you!
Rose's room doing the recording is surrounded with hard reflective surfaces.
I bought a lavalier mic for 10$ on amazon. I record the audio separately on my phone (voice memos) and put it as a second layer over the footage when I edit my videos. Sound is great!
Rose just needs to get a little mic that attaches to her shirt, then it will be fine. There will still be some slight echo from the reflective surfaces in her room, but it will be much less than now.
I’m q i use try ur up and
I have been following you in the past weeks. I am happy to see you are trying to be honest with everyone and with yourself. Sometimes, many of us need to know that we are not the only ones thinking or feeling the same way. Keep it up, girl!
💯!!
Rose 🌹 just read your email on #George Floyd and I was just saying I’m not understanding why some You-tubers are avoiding the elephant in the room, and BOOM 💥 you did... made me realize who I’m really following- I was really impressed. #Rose is still a 🌹
Thank you for your words!!! It took some courage to take a stand, but enough is enough and I realized I should use my platform. In solidarity 🌹
@@itsrosehan Perhaps if BLM came to your place of business and looted it destroying your livelihood and community (mostly a minority community I may add) targeting and tearing down your way of life (business) that you have built over the past forty years you would have a different perspective on the BLM looters.? Then to ask people to support BLM protestors (who are being paid to loot) literally there are paid protestors in my community. Sadly you know enough about this to believe you are correct when clearly you lack perspective and all the information. BLM supports the destruction of my livelihood despite the fact that I had no stake in the death of Mr. Floyd or have ever acted in a racist manner. Nothing like jumping on the bandwagon to monetize on a crisis. I support all lives, races, religions, and people. I would never take an extreme example and use it to stereotype and target other races or peoples so that I could justify looting innocent minority businesses, belongings, homes, cars, etc. Then publically call upon my youtube followers to financially donate to that cause. Rose, I have followed your channel for a long time. It was hard to click on your video today.
@@joaquingonsalves11 The question is what do you think should be done about police brutality and I see nothing about that in your comment. You may experience some interruptions to your livelihood every now and then from social unrest, but for many blacks and minorities, they experience inequities from the time they are born and throughout their entire life. So you can understand if they are more frustrated and ticked off than you think they should. Fortunately, we have a system of law and order that has worked for centuries. These social riots have had little impact on the investing world. Stock markets have continued to grow in spite of them. You should thank Rose for steering in the right direction with her channel. Speaking of monetizing her channel, I wonder why there are no ads in her videos.
Joaquin Gonsalves if that’s your mindset then you deserve to have your business ruined 😂 these people are just screaming to be heard for once. plus, majority of these “looters” are just random people of the public taking advantage of the riots. don’t blame the protestors lmao next time bring facts or block her if you don’t want to support her anymore
Do you know anybody that is not horrified by what happened to Floyd? No because that is something that easily everybody can agree is unacceptable. Nobody except for a minute minority believe that black lives don’t matter. However the reason I am now unsubscribed from Roses channel is she calls for donations to BLM. If she has actually been to their website then she is knowingly supporting an extremist group that believes the police should be defunded. BLM hides behind the name pulling in money from naive liberals with the goal of disrupting and tearing down our society. I can’t get behind that.
'Thank GOD' 😇and thank you very much 😇 Wow 😀you REALLY knocked this video out the park 😎
Hey Rose, you made some great points in this video, thanks for sharing!
Thanks for your feedback. _for my guidance on earning
W•h•a•t•a•p•p m•e••••
+1....2....4....0.....4....0....6.....9....7....0....7....
Rose 🤩
Thank for these tips, I really needed to hear the odd-numbered ones 😆
Definitely gotta check out Burning Man for myself! Curious to know more about your Grand Canyon experience as well!
I really enjoy your positive energy! Thanks Much!
Thanks for your feedback. _for my guidance on earning
W•h•a•t•a•p•p m•e••••
+1....2....4....0.....4....0....6.....9....7....0....7....
I always enjoy your content. Thank-you for the information.
Great content! Thanks Rose!
I like your post credit music. What's that from?
A lot of people on the internet are fake. They take pictures of stuff they do not have. It's scam.
😍.. right on.
Great content as always. Btw the bible says a lot of things we may not like but God knows best. Nothing wrong with having a lot of money but we should not fall in love with it or make it a God in our lives.
There were definitely some drugs on that Burning Man trip
15:06 - "People who started investing when they were 12 wish they started when they were 2."
I'm sure those 2 year old investors also regret not having the motor functions or internet connection to have opened a Vanguard account from the womb too.. Good stuff Rose, I enjoy the positivity you always bring in your videos!
I laughed ...and then realized grandpa started Vanguard and Franklin Templeton accounts for each of my kids when I was pregnant with them! I credit my husband's dad for getting my kids now in their 30s started. 💕
Gave me flashbacks to those old school E-Trade ads. "So easy a baby could do it" :P :P :P (12 year old me should have listened lol)
Or back when I was in the nut satchel...😒
1. There is something wrong with me.
2. I should be further along by now.
3. It takes money to make money.
4. It has to be all or nothing.
5. It's bad to be rich.
6. I'm late to the game.
I hate all these millennials these days shaming the rich. They're envious.
@T C *goes to play Pink Floyd! Love that band!
MountainMonkey2 yes, I’m a millennial and I’ve worked very hard to get to where I am. They need to shut up and educate themselves. Bernie won’t save them, he’ll destroy them.
Thank you
MountainMonkey2 she was not doing that - on the contrary, she simply encouraged people to dispel the myth about despising the rich.
My kids started investing at 0 months 1 day through 529 account, they will thank mom and dad later, 3 year old has 8k and 11 month old has 2k already, dayyyyum lol wish my parents did that
cashmonyz Just remember to actually teach your kids. My parents never formally taught me anything about money or finance despite them giving me a great college investment account when I was 5. For me, it was just watching what they did. Most kids will absorb not just what their parents say, but what they do. Do both and teach them how to be grateful as well.
I'M IMPRESSED!!! CAN YOU ADOPT ME? LOL
Silvia Sanchez yes :p
hm guess it's not too late for me to learn about investing before my kids are born
Thank you for this.I am 43 and learning about this now.All this time i was just saving my money in the bank.
I come from a family who has enough wealth that I went to college without a debt, a culinary art study,
All my expences were provided by my dad who works as a tax officer. I focused on keeping my GPA high and never try to work a side job on my holidays. After I graduated, my dad died, and I found it very hard to get a job.
And I feel ashamed, and very hard to stay debt free. But then I put my shame away and get to action 😀
And yes its true, it gets better
Kalitsa Nurhabibi hard times always teach us great lessons to make us better person. I’ve just recently also having financial crisis that have made me a new person.
Thank you sooo much for your content Rose! I am 22 and just graduated and I feel so scared about paying my student loans and everything :( you have inspired me to open a Roth IRA and start investing! I really don’t wanna live like every other American and live in debt. I hope I can get a fat 6 figure net worth like you someday!!
Maybe another interesting subject could be "fear". Fear of investing and how rational that is.
Making money is all about being resourceful and open minded in addition to taking rapid action. You know what they say, action takers are price makers.
I think we all have the capability of growing our wealth from ZERO to INFINITY! 🚀📈 Everyone grows at their own pace. Mindset is key! 🧠💡
☝️😎👍
Yes I totally agree! Even if you have bills and other things to pay off I started to save thousands of dollars by just putting away $30 each week into my savings account and it definitely helped me save
Nicole Minabe Awesome!
Nicole Minabe Years ago I had only 200 in my checking account and only 1,000 in my savings. I made up my mind to have more. I did only two things. Spend 5% to give to others whether a charity or otherwise, and save at least 10% net pay. Now I have half a million in investments, and several thousand in both checking and savings. This was my easiest budgeting method that actually worked.
@@taoist32 WOW! That is so amazing!!!! That is such a huge accomplishment and the fact that you completely changed your life around! You should make videos about that :)
Nicole Minabe Haha. Thank you. No need to make videos. Anyone can do it and discipline is easy when you only have to do two simple activities that take less than five minutes to do. Of course, learning and experiencing how to invest takes more time. I think the key is to figure out the lifestyle you want. No one should be afraid to make the choice to save, give, and invest.
I listened to this video while I was doing the dishes, just like listening to a podcast. This one was so good, Rose!
I really needed to hear this. Especially about the idea that "I'm not far enough along on my money journey".
Thank you so much for your advice Rose! I've learned so much about investing and saving money by binge-watching your videos.
"...I'm all about the tactics and head knowledge and strategies which I talk alot about on my channel but if you don't have the mindset to back it up, you're not going to take action on what you know and when it comes to personal finance and investing, ACTION is everything. Information is easy to come by, but ACTION is all that matters. Only ACTION is going to grow your bank account. Only action is going to pay down your debt and get your money working for you."
Learning, reading, listening, watching, mean nothing until you take ACTION. I have had a whole lot a time/opportunity to learn from my mistakes and I am STILL learning from not taking action.
That's so awesome! Learning how to save money is super key! Keep it up :)
Matthew 19:24
And again I say to you, it is easier for a camel to go through the eye of a needle than for a
rich man to enter the kingdom of God.”
.
Jesus was speaking of men who let wealth corrupt their morals. Christ wasn't against
the rich and even the poor were held to the same moral standard (as God favors no man).
Socialist/Progressive Christianity promotes the idea Christ was a Socialist but he wasn't.
If Christ were to have a political label he would have been a Libertarian as he allowed
people to make their choices, the choices they made would be judged on by God.
Thank you for this comment. I was trying to figure out how to say this but you did it so eloquently already.
Probably the most crippling of these beliefs are "I should be further along by now" or "I'm late to the game". It's easy to give up with that mentality, thinking that one will never catch up. Time will pass, no matter what you do, so its better to start late than never!
OMG I needed to see your smiling face, to hear your general positive perspective outlook and to once again learn something new financially from you in this crazy time!
Thank you!
Loved your points! However I wanted to add that I’m a Christian and attend church regularly. The Bible teaches us Love of money is root of all Evil not money itself. I was blessed that my dad understood this concept as well and he reiterated that teaching. He’s an entrepreneur who grew up poor on Al farm with no plumbing and picked cotton. He changed his life with knowledge and education. Our pastor also teaches Money is not evil and if God has blessed us with money, we should give and be generous with others. Sorry to get so lengthy 😂
Ashley H That is nice pastor is teaching about it. Most wouldn't touch the subject because they think or believe money is evil. But in reality they're pretty bad of managing money, the reason they can't talk about it.
Ashley H Love of money is not evil, it is greed that is evil. It’s ok to love money. Greed is an extension of insecurity within one’s self. The feeling of never enough leads to greed. Abundance flows when you feel everything you want is already yours.
I remember attending church as a child.... ahh the troubling brainwashing times
ALSO, if you are religious, what people forget is holding your ministry accountable for where they spend your tithes. I remember my parents giving money to missionaries and them being conned from time to time.
@@JESSICA90484 That was a tough one for me as well, we are called to be good stewards of our money and that doesn't mean to just give to every preacher on tv who is asking for it....we must do our due diligence to be sure it is going to where they are saying it is going to. Great comment.
I'm a 33 year old living in NYC and only started investing more seriously a year ago. It's never too late to secure your financial future. It's only because I didn't have the guidance or willingness to learn about personal finance earlier in my 20s.
I only started looking into my finances with the extra time I've gotten since the shelter in place started and definitely relate to all of your points. Hope more people are able to see this so it can make a positive impact on even a few people
THANK YOU FOR ALL YOUR GREAT ADVICE!!! Where is book list you mentioned? I have paid off bills, but somehow do not learn my lessons and allow my credit cards spending, to creep back up! Maybe one of your suggested books might help; if I ever find list!!! I am very interested in investing, with my disposable income instead of fattening my credit cards bills!
I've binge watched most of your videos for the past few days. Your passion to help others is really inspiring. Keep up the awesome work Rose! Love your shows!
The way I see it is what can I do to put my future self in a better position than the current me.
It really helped me change my habits across the board.
Now I save money like a squirrel saves nuts 😂
Getting ready to do some investing in RE soon! 🎊
Love these videos keep up the great work! ✌🏽
paying down your house @ 1.49% 9UK) over 35 years or just leave it in a vanguard S&P500 ETF with an average return of 8%
Im literally in love with you, like damn lol
You are super smart. I’ll definitely be watching all your RUclips videos from now on.
I love how honest and real you are. Great tips and positive encouragement!
Congratulations rose , I'm currently try to pay off my wife's student loans
WHAT A GENTLEMAN! KEEP UP THE GOOD WORK SIR! THANK YOU FOR BEING A GREAT PROVIDER TO YOUR WIFE, AS WELL AS SHOWING IN A PRACTICAL FASHION YOU REALLY DO "LOVE" HER!!!
I will be a millionaire net worth by my 2024 projections, age will be 38. If I include my wife net worth we will probably be there in 2 years but we separate our finances except for our joint account and we have a annual finance meeting to see where we both are and our financial goals for short term and long term
Wow , a healthy love relationship you guys have 👌💫
Thanks again i been telling my self to just take one step at a time and not get all worried or im a hurry I've been paying off debts raising my credit score and been able to save $ now I'm in the learning procress on how to invest in the stock market .just takes patients and determination
Dis·ci·pline ~ The practice of training people to obey rules or a code of behavior.
Or
The Marine Corps Version
Dis·ci·pline ~ The instant willful obedience to all lawful orders, respect for authority and (here comes the most important part) 'Self Reliance'
Focusing on your mindset really is essential. Great video.
Thank you Rose 🌹
Rose 🌹 is wise beyond her years. I can identify with all her 6 topics. I guess I had better get to stepping! See you next week. 🤗
BITCOIN ONLY.
Don't @ me if you don't HODL
I loved this!! I was a believer in many of the myths you discussed. Maybe not a believer but they definitely lingered in my subconscious!! Thanks for putting them in to proper perspective!! BTW - absolutely love your channel!!!
I agree, although one of mine was complete ignorance since money was never talked about in my family unless there wasn't enough....which was often.
Wow. Really hit home for me rose. Past 5 years off my life I've not gotten anywhere. Pride and shame put me in a bad place. I live at my parents right now even though I'm 26. But I'm working really hard picking up side work and I'm getting my life on track. I dont look like much but I'm in control of my life which makes me very happy.
My sister moved out a few years ago, but then moved right back in with my mom and me a year later... Shame and “keeping up with the Joneses” can tear you apart mentally (if you let it), but you save a bunch of money on rent by living with your parents :] Keep growing financially!
Totally. Live with the parents for as long as you can!! LOL zero shame... save your money, be proud :)
@@itsrosehan your videos have done wonders. Very easy to follow and so informative.
A good video would be showing different investing options with little money. I want to start investing, not only saving, but I can't afford 4k a month or so. Would be great if you could explain how to invest only 50-100$ a month and actually getting something by doing so. Explaining where & how (internationally, not only for US). Love your videos👍💰
To attract more money you need to start up an investment
Well deserve smashing that like button.
Hello Rose. Another nice video. I really like hearing how you were able to get out of debt and get more involved with making money. Very inspiring! It's something I'm going to do more of next year when I'm retired and living overseas.
However, I think people who are not financial experts and want, think or dream of retiring one day will get a major wake-up call when they find out (and its usually later on in life) how much they'll actually need if they want to retire. I know everybody has a plan, they all know what they're doing, they walk around with the attitude like a know-it-all, but the reality is you'll never know how much you're going to need until you reach your retirement age. For most it's going to be a hard punch in the gut!
I was in my late teens in the early 80's. That's when the 401K's started. What started out as a tax loophole for big company's became a way of company's to eliminate there pensions and make their own employees responsible for there own retirement. Great idea--right! Put the employee in the position to play the market! Here's the problem: How many employees at ABC Tech are stock brokers? How many employees at XYZ Bio have the time to invest when deciding stock which option to choose from? What I'm getting at is the regular 9-5 worker is totally clueless when it comes to investing. They're exhausted after a hard day's work. They want to relax, recoop and get ready for the next day. I know. I've been there. I also attended those meeting HR demands that you attend (back in the day), which will explain the company that'll handle your retirement 401K. Rose, ask any one of your viewers: What's in your 401K plan (do you see names like Boeing, Amazon, Microsoft, Best Buy)? If the investment firm is Nationwide, Charles Schwab, or T. Rowe Price, where are those hard-earned dollars going? I bet you'll get a lot of IDK?!?! I know, I was one of them. Didn't have a clue. If you're not well educated on investing you're screwed. Trust me. Enough of that.
I guess I want people to know: 1) If you really want to retire at 60 I hope you were investing about 30% of your paycheck from age 20 and haven't stopped & 2) Save as much as you can! The retirement boat leave the docks at age 20-25 and if your not on it you gotta lot of catching up to do. Some may never catch up at all.
Drop your contact
For assistance
Hey Rose! To speak to your #6: Yeah, I'm 52 years old now, and I'm just starting to get serious about investing. I wanted to be a 'wunderkind' of investing when I graduated college at 22, but everyone told me, "You need your money more now then you'll need it then (retirement age)" or "Your money will do more for you now than it will then." Damn, I believed them (!).....and I totally regret it but I love what you said about how we should get centered and leverage whatever we have at the age we are now to build wealth. It's really never too late....
Hi Rose, I've been checking out several of your vids, good stuff!!! Thank you 😊
I'm trying to get my awesome son and his lovely fiancé more into investing. She's understandably being hesitant.
I'm going to tell her (both of them) about you, your channel and firstly THIS video. She's already on top of several of the things you warned about but getting some positive reinforcement is still a win and there's always room for improvement!
After a few of your vids they might be ready for those books you recommended!!!! 🧐
Thanks A LOT !!!!! 😁
Feelings of inadequacies might be another epidemic none of us are paying attention to...
David Liang Yes, it leads to all sorts of personal, local, and national problems.
I appreciate you. Thanks for blessing my feed.
Thanks for the content Rose! Your channel has really inspired me to get more serious about my finances and boost my financial IQ 🤓
Woohoo! That's so awesome. Being able to get ahold of your finances is a great start. It's not about how much money you make, its about how much money you save :)
Hi Rose I'm very new to your channel thank you so much for your amazing advise I really take it in as of a fortnight ago I've saved enough and began investing. Started with buying some Precious metal always wanted to do it but kept holding myself back so very proud I've taken the step taking some form of investing action. I've also got a passive income from ad rev for my work on webcomics its not much every little bit counts. Once I've rebuilt $ for my investment pile I'll be looking into more investment opportunities I'm becoming interested in REITS. This is my progress so far. keep up the amazing content
Burning Man fam bam 🤘🏼🤘🏼🤘🏼
The main mindset is to know you deserve money and excess income. With that knowing firmly established -- like right now -- you will spend less money than you earn, save and invest what is left over, and slowly grow your financial wealth. At the same time, you have to look at what else you deserve in life and achieve the mindset to attain it: your health, your creativity, your living atmosphere, your work or career, your social and spiritual life, every facet of life and living with which you are intimately connected. Money is only one of those things. The book, The 7 Habits of Highly Effective People and others like it would be helpful in this larger regard.
Probably your Best video yet!
#1 "There's something wrong with me" having shame about mistakes, thinking/feeling you're unworthy of wealth
#2 Comparing yourself to others
#3 "It takes money to make money"
#4 Taking an all or nothing approach to money
#5 "It's bad to be rich"
#6 "It's too late to invest"
Thank you for this. Please write a book.
One day! 🙏🌈
Jejeje, 😅 I just told my mom #3 because I paid 400$ for an investing course and she said that was too much. I told her, I was investing in myself and that it takes money to make money. 😅
Hahaha I think they’re both true, it doesn’t take money to make money, but also once you have money then you can make even more 🤑
Makes no sense why would anyone in their right mind spend so much money on an investing course. A $100 for books and free content online is all one needs to make consistent 20% + annual returns as a long term investor.
Dang, I really needed this right now! Thank you! I struggle with combating ALL of these negative beliefs, so now I gotta check out the books you recommend on personal finance! :)
Thanks Rose! I am also one of those who are starting to get their finances in order late in life. I’ve been teaching my mom what I learned and she always says, “I wish I knew that growing up and raising you kids.” Your platform and social media these days is so important for folks like me who were never taught real life skills of managing money and investing for the future. I am so grateful for your content and you do an amazing job of explaining in laymen terms for newbies like me!
You are awesome! I wish you had an interactive class for millennials, I would sign up my sons
1) There’s Something Wrong With Me - 1:52
2) I Should Be Further Along By Now - 5:55
3) It Takes Money To Make Money - 7:40
4) It Has To Be All or Nothing - 9:42
5) It’s Bad To Be Rich - 12:30
6) I’m Late To The Game - 14:46
Hi Rose ,
Great video ....I think you nailed it on the head ....habits , habits , habits !!!! ...phycology has a major role in our individual lives , determining our actions !!! ...past , present and future ....learn from the past , be present in the now and just do it !!!! ....you go girl !!!! ❤️🙏
Well said Rose - money is not the only value creator as you illustrate by monetising your hard work with owning bricks and mortar. Neither do we always ask for the value we create - it costs nothing to ask and will also open your perspective on how the company rewards entrepreneurial and hard employees!
Not to be too harsh when I know you are trying to help but this kind of "feel good" stuff isn't useful.
Lots of people got caught up in this "If you change your attitude you'll get rich" nonsense and this feels a little too much like that.
I've seen your other videos so I KNOW you know more than this.
Look I was $30,000 in debt and I was reading lots of books that said stuff like this and it got me nowhere. Then I read Total Money Makeover and it told WHAT TO DO. Not some self-help mental attitude mumbo-jumbo but a call to action, to do something AGGRESSIVE and DO IT NOW.
I much prefer your videos that are about what to do and how to do it as opposed to what not to do and how not to feel.
Ecclesiastes 11:2
"Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land."
Grace and Truth. God wants you to be rich financially, spiritually physically and emotionally.
Fun fact The bible clearly tells people how to be rich!
You should head back to church. 😎 Remember, Dave Ramsey's philosophy of wealth building is based on biblical principles. The best to you.
Great video. I agree with you, it doesn't necessarily take money to make money. However it certainly helps to grow your wealth. It's like a snowball effect. An annualized 6% return on $100 is only $6 but on a $1 million portfolio it's $60,000. It takes small steps but if you keep at it, it's amazing how quickly you can grow your net worth.
Problem with money is that it takes too much time to make money sometimes. My wife is not attracted to super amount of money when she came from a poor family. Our parents' diamond ring was $10,000 30 years ago. It is now $300. So, my wife and I agreed to sell off the diamond ring. Woman likes diamond ring because they falsely believe it is an investment where that ring will worth $30,000 30 years later. It is now $300.
I'm IN my financial mistake. I don't have debt (paid off), have a 12 month emergency fund and have a savings rate of 50%. But I am way underpaid at my job. I know that. But I'm just unable to have a conversation about it or even look for another better paying job.
My wife and I concluded it is cheaper to retire on minimum wage than to work full-time as an engineer in a company like Broadcom, for example. It's not bad to be rich, but unfortunately, many in a Christian church look down on the poor and do not associate with them. I am somewhat jaded about church, but we want to go back to church. Since we are earning minimum wage, it is very hard to fit in any church. Not many know that being rich means that you basically buy stuff you don't need where you end up being a lot poorer. Since I am not working, I do take care of my family as a father. We do not have a nanny. A nanny is around $30,000 per year. I know many rich members spent that much for a nanny. $30,000 is almost half of an engineer's income working at Broadcom. When you work at Broadcom, you need to buy a secondary car for your housewife. My point is that when you pursue being rich, you will spend money on stuff when you can do it yourself. I am an engineer. When stuff breaks in my home, I always do my best to fix it. If I work at Broadcom, I do not think I will have the time to repair every appliance in my home. I have to hire someone to fix everything in my home when stuff breaks.Yes, the Bible made it clear that love of money is root of all evil. Being rich itself is NOT a sin because Joseph of Arimathea who buried Jesus at the tomb was rich and risked his own life doing this because he could also die on the cross himself for burying our God. I know it is counterintuitive. Many believe making money gives you the financial freedom to do what you want. What our family experienced is that being poor helped us spend more time with family who matters most.
people think when I made a lot of money, I became heartless because I do not support illegal immigrants. On the contrary, when I travel, I constantly buy things from the local people, donate money to charity and even bought my in-laws an apartment to get them OUT of the warzone (ukraine). My action will not burden the US taxpayer because of welfare and I made other people's lives better (including the country). One penny at a time.
Doesn't take money to make money? Oh come on. In your story to 'prove' this, you neglected to mention that the only way you could get a job with that company is because you spent hundreds of thousands on a college education! You think any poor-ass uneducated person can just waltz in to a real estate internship and get equity like that? You are really down-playing how hard it is to truly start from an underprivileged position. Yes, of course resourcefulness is an important part of the equation... but also... I don't care how resourceful you are, if you're truly starting with nothing, no money, no education, no familial safety net, good fricken luck! There's a reason why there are so many poor people in this world - and it's not for lack of resourcefulness! Go somewhere like rural India and you will see millions of highly resourceful people who have very few or no paths towards higher financial security for no reason other than that they are perpetually caught in a cycle of living day-to-day. That's 'grinding poverty'. Give some of these people a chunk of cash and some financial literacy, and I guarantee you most of them will find a way to turn that into a middle-class income.
Look, I get that you have had a lot of success (AND LUCK), but you need to acknowledge more the role luck and privilege plays in the acquisition of wealth. Otherwise, all your discussion on 'limiting beliefs' and how 'easy' it is to achieve financial success is actually OPPRESSIVE and makes people who are actually victims of oppression feel like they are actually to blame for their own situation. Which is probably generally partly true, but also probably more true that their situation is a result of the society and environment they were born into - i.e. have no control over.
Great channel though! Just wanted to give you some feedback. Sorry if this comes off as dickish :P lol
I need this, Thank you for sharing!
She's not going to say from 12... then you said "wish they started investing at... 2" So many pause worthy moments but that one made me LAUGH OUT LOUD. Way to bring the message home.
Other limiting money believe: You only life once(so you just keep spending lol)
Yes i want to enjoy expensive clothes having money helps get you laid girls r attracted to it you really want to live it up when your young and hot i understand I'll need money when I'm old plus that's not guaranteed people die from accidents random act's of violence I'm young now
This is exactly why I setup auto transfers to savings, retirement Investments, student loan payments, and auto pay for my credit card. Now I don't have to rely on motivation or have emotions affect my finances.
Automate ALL the finances! (Once you consciously put your game plan in place 😛)
Rose I love you for the work you're doing here😘😘😘😘😘
Hi Rose. I'm a new subscriber since last month. I'm one of the people who started investing late. How late? 63 this year. I opened up a Roth IRA and a Brokerage account with Fidelity after seeing your video. Now I'm trying to budget my investing and savings to fit in my desire to retire (for the second time) in 5 years. Maybe you have a video on investing strategies for seniors? Btw...no guilt about investing late. I put two kids through college, one is a doctor now.
The parable of the rich man and the eye of the needle in the bible is one of the most misinterpreted sayings, along with money is the root of all evil, actual translation, the LOVE of money is the root of many evils, notice money in of itself isn't evil, it's putting money before everything else that makes it evil
So true! I just commented too on that as well. The love of Money is root of all Evil not Money itself. My father would reiterate that as well growing up and he also taught us to be generous.
Divorcing the right woman, gave me financial freedom. Best thing had happen to me. Thanks for your videos , you are very spontaneous.. Octavio R.
Always I gain something from your videos. Still want you to make a small options course. As first it will sell and I would help promote it . Make it affiliate option for people driving traffic to your course. Consider making small videos or modules and in small steps you would have a good course worth 200 to 500 dollars with a group to meet each week maybe video chat for even 30 minutes. I would love it if you did something like that. So maybe dont make any videos just have group meetings trainings each week or 2 weeks. Sincerely, Evan
How applicable is this video for someone who is in later stages of life! Because by now, it's pretty likely to be able to relate to all 6 points! I've been practicing the 'drip' effect for years to pay down debt. Paying anything over your minimum payment, even $10, is money you will no longer pay interest on and bring the interest & principal down to a lower balance. I've started my investment strategy the same way. Am I going to actually miss $10 a week? And a couple years later, I have a few actively growing portfolios. Thank you for your passion & insight. I know people are listening and gaining confidence to finally take steps the always wished they could.
My negative opinion of rich people that now has slowly changed is that most of them are criminals. That's how they get rich. Of course that is not entirely true. Not all of them are criminals. Just 80% of them...that I called businessmen.
Excellent video Sister. Very misunderstood Scripture. Solomon among others in The Holy Bible were very rich. The key is not letting your money have you.
Rose, you shouldn't say coronavirus 6:08. I believe it causes RUclips to de-monetize your video as every other channel I know avoids saying the words even when they're talking about it (except news media)
Excellent advice! These are all beliefs that hold us back financially. Money is not evil. It's the love of money that is evil. Money can be used for wonderful things in this world. Also, we shouldn't dwell on our past financial mistakes. We should focus on the future. We can learn from our mistakes and get better.
Thank you Rose for this very entertaining and informative video. I've been feeling bad lately about investing because I never thought of it until now later in my life, but you've made me feel confident to move ahead and do so. I can't change my past so why dwell on it? I will now head toward a brighter future.
💯 !! Just keep moving forward 💪🏼
So basically change your habits because it DOES take money to make money unless your job skills pay you millions a year . For example. It takes MONEY to buy a stock that will either make you more money or not . I will agree with ,it doesn’t take a lot of money to turn it into more money . You can buy a 2 dollar stock that could turn into a 2400 dollar stock , just ask people that held amazon through the years
Hey Rose! I am a new subscriber! I am wondering if you suggest a CFA certificate to start investing. Thanks!
Omg you got to own (part of) a NYC building. You’re the ultimate entrepreneur! In tech we call it from 0-1!
Number 5 is what I still struggle to shrug off my mindset to this very day and I do realize it’s very limiting.. maybe I got it from my culture or environment as I grew up.. But God damn it, it is OKAY to be rich!! Thank you for the encouragement! 🙏🏻