Quick Correction: in the first tax TikTok, I mention needing to be incorporated to deduct expenses. This was a mistake - I meant to say you generally need to be self-employed, which doesn't require incorporating (you can deduct expenses as a sole proprietor). Apologies for the slip up.
@@27shaqibshaikh75 that's great, you are on the right path, but I think you should consider getting a share of one of these giant index funds like IVV, SPY, or QQQ, they are statistically much safer and better investment than any REIT, by risk-adjusted return.
That's only true if you're a low-information investor. Warren Buffett's method of investing, which uses individual stocks, is nothing like betting, and is wildly more successful than "just pick the index fund bro".
Yeah and just using business acounts for all of your expenses is awesome when the business goes bankrupt. Doesn't matter if it is an LLC those sweet protections are long gone buddy
I love that last "advice" 1. Be given $300/month from parents. 2. Invest it in something that pays 10% a month. OH!!!! so all I have to do is receive free money and invest it into something that provides unbelievable amounts of returns. OF COURSE!!!!!
its only like that cus Boomers control 90% of the wealth in America.... because they make the policy. Theyve been taking and taking from the system for years.
yo yo i wasn't paying attention to the return rate. at my end, high saving yield are doing 8%. now image making more than that but after 30days. crazzy!
I'm suddenly reminded of the Emporor's New Groove and this quote from Yzma (the main villain) Yzma : It is no concern of mine whether or not your family has... what was it again? Peasant : Umm... food? Yzma : Ha! You really should have thought of that before you became peasants!
Not only a dead giveaway that he has no clue what he's talking about, but also *_really annoying._* A) "I don't know how much she's worth." It is a _three second_ google search. B) The king of England is worth LESS than Bill Gates. *_By two orders of magnitude._*
He was kind of a shady character from the start. Rich Dad himself appears to be fiction, and there’s a bit where Kiyosaki straight-up says to make friends with high-ranking businesspeople and see if they can throw you some insider information. Kiyosaki claims it’s not insider trading because you’re not the insider, but Martha Stewart’s conviction says otherwise. She benefitted third-hand - an insider (who, granted, was also a friend of Stewart) told his broker to sell a bunch of shares. The broker called Stewart and suggested she sell. If that’s close enough to count as a felony, outright asking your golf buddy for insider tips definitely does.
@@Magic_beans_ Rich Dad, Poor Dad was just a good way to explain assets, liabilities, and equity to people without basic accounting knowledge. The only real downside to the book is that it is overly optimistic on real estate, doesn't properly explain the risk of debt, and is often used as stepping stone to sell people bad financial products.
In 1 of the Interview, he admits that. He literally said his advice was not any different from people who write book about finances before him, the difference was he was just better at Marketing. He told a Story where he had a Conversation with a Professional Novel Writers on how to write a better book and become the best seller. He told the writer to take a Marketing Class, and the Novel writer got offended by that because he told her Marketing skill is more important than writing skills when it comes to selling books.
Nah man, you just need 300usd total by that age and invest it into something that pays you 30usd back each month. Reinvest those 30usd and you will have tens of millions by the age of 30
I won't lie though when I was around that age I walked my elderly neighbor's dog and she gave me $200. I felt so bad that I tried to give it back. I really gave it to my friend who ended up not being a good friend. The woman was giving us $100 each time we walked her dog. I had no idea what the value of money was, so it's gone now.
As a CPA, I often come across the "spending to save taxes" idea, which is a bit stupid if the "spending" is discretionary. Spending 80% of a dollar to save 20% of it. Want to improve your bottom line? Don't spend if you don't have to.
I live in New Zealand, where they changed the law recently so capital gains applied only if you sold an investment property without holding for 2 years (instead of 10). The majority of new investors held through a massive bubble until the law changed, then sold after the market crashed, to avoid taxes. As one glib commentator pointed out, they lost money doing this, in real terms, after taxes (or lack of). But psychologically, many of them still consider that they "won" somehow
15 years ago I didn’t know anything about investing and wanted to start to learn. I went to a used bookstore and the only book on investing they had was Rich Dad Poor Dad. I read 1/3 of the book, then realized that the advice being given was purposely vague platitudes with virtually no executable advice. Then I went down a rabbit hole researching his background and let’s just say he’s always been a charlatan.
@@JRRob3wnIn _Rich Dad_ he straight-up advises making successful friends and asking them for insider information. For reference, Martha Stewart went to prison for using third-hand insider information. The ImClone insider and her used the same broker, and the broker said “Hey this guy’s selling, maybe you should too.”
I enjoyed RD, PD and Unfair Advantage. Huge for a high school kid back then. I read Millionaire Next Door and those books really shaped my finances. Haven’t listened to Robert since like 2015. I’m so done with him. I remember he was pissed and annoyed and insulted this RUclipsr when he was on his show. Called it stupid. Since then, haven’t listened to him. Insufferable.
It's great to see you reach almost 1 million subscribers, Richard. Been watching you for a long time, you've really helped me learn more about investing. I hope you have a great weekend :), Cheers.
At 6:38, you can catch a glimpse of her net change, which begins with a -36, so her stocks DID lose money over whatever period it was. Also, just by checking NVDA, which was up 245% means that AT BEST her portfolio occurred around June 18th ($135.58) with the start being around June 9th 2023 ($38.77) to get that type of return, so it was at least a year of difference.
The most important thing to understand about an influencer teaching you anything is that they can just lie. Tax guy can be telling you one thing while doing something else. "$4million portfolio" woman can have a negative net worth and her entire portfolio is just a faked up picture. They can just lie, and if they're ever caught out they can act like YOU are the stupid one because they're "just telling stories" or whatever. They can lie and lie and lie with no consequences, so they do.
If these influencers could really teach you how to “easily trade” and get rich quick, guess what they would do instead of RUclips. Making RUclips content is way harder than clicking buy/sell.
Indeed. Add in the profit incentive, and it's a no-brainer. It's not just finance either. It's everything. The internet is a great reflection of humanity. Just like MMO games are.
I like how the 4.7M lady points out the gains, but at the top it looks like she down about 36k. Like Richard points out, she avoids showing all the stocks with negative returns.
No one's talking about how he said "Just buy real estate at 15" lmaooooooo I can't believe those words even came out of his mouth. Great content once again from you Richard. Glad I don't use Tik Tok or follow really an "finfluencers" I make my own decisions and do my own research.
I did listen to a podcast of a 17-year-old girl that bought a rental house. She and her boyfriend got the down payment by flipping furniture on Facebook Marketplace. She still needed her parents to qualify for the mortgage, though.
The hero we wanted and needed. These videos is a wiff of fresh air in an otherwise thick moisty fog which is the finance space. I've been active in it for over 6 years now and the amount of bs i've witnessed over that period... In other words, your harsh reality content is very much appreciated and puts a smile on me face. Keep it up my favorite pastry👊
"If you get an allowance of $300 a month, buy a piece of real estate..." How much does he think real estate costs? If you could afford any revenue generating piece of real estate for $300 a month then we'd all own it.
@shubamrachappanavar2708 With most REIT's you can't just deposit a couple hundred dollars though, you usually have to go in with at least 5k. Or at least that's what I've seen.
You can always just buy a fraction of REIT stock. It's technically buying real estate. The reality is that they are volatile and usually underperform index funds.
Oh man, imagine you call your landlord to come out and fix your AC or take a look at the water heater and a fifteen year old in a Fortnite shirt shows up at your doorstep. I am *cackling*.
I love the girl in the second one about index funds going through all of her individual stocks but yet she moves her head and gives away that her overall portfolio is negative anyway lol.
I really appreciate you emphasising that it's important for kids to just be... kids. Like, life is shockingly long and shockingly bland as an adult, there's a reason why we all think back fondly to our childhoods. It's depressing to think teens these days feel pressured to hussle already, like you have 60+ years of your life to do that. No need to rush.
I love how social media is convinced "writing taxes off" applies to anything regardless of how tangential it is to your business, and they often act like its free money when the stuff they talk about would result in maybe 100$ back at the end of the year if they're lucky
Some of the people giving that "financial advice" admit that it's just fraud they make up for entertainment. Like one guy who went viral for his "life hack" to take a $10,000+ loan to start a business, buy yourself a really expensive watch with said business, and then declare bankruptcy and let the bank eat the loss (something that would get you sent to jail for fraud and embezzlement).
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions
Having an investment advisor is currently the best way to approach the stock market. Based on personal experience working with an investment advisor, I currently have $800k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.
Thanks for sharing this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
@@TheNaldiinlike the difference between a million and a billion, or the difference between assets and assets under management, or how to not be a fraud
I think Berkshire has 2 trillion in assets under management. The reason why buffet is great and why everyone went to him for a bailout is because he carries billions in cash. Cash is king, and Grant should follow his advice 😂
The phrase "everybody is an idiot except for me" is the motto of the day. I consider myself lucky for having low enough self esteem that I've always invested with caution and an approach of learning, balanced with distrust of any single person or group. If you care about your money, treat it with care!
I once interviewed top international poker players in a tournament for a magazine. One of the top guys gave up being a surgeon to play professional poker - he was a great thinker and had written books on playing strategies. I asked him for some ranked tips for the readers (magazine layout loves numbered points!) His number one priority (and same goes for most pro players during a game) is money management. That is: All your betting strategies must come from protecting what you already have.
Brilliant as always Richard. Your discussion with your fellow portfolio manager colleague put me onto the CFA course (currently studying for my Level 1 exam) so thanks!
@@CST1992 he had a solid reputation back in the day as a sales trainer; but now he just went all in into motivation/scam garbage and his legacy is total trash now
Bro if these are the people who are giving financial advice we're cooked. My favorite quote from Charlie munger - If we sell horse manure we don't pretend it's the cure for cancer.
The thing about precious metals is that while they are rare and finite, that isn't what makes their value _increase._ The increase in value depends on increasing demand relative to supply. If it isn't happening because of technology shifts, supply changes, or public/investor sentiment on the overall economy, then it's ultimately just tracking population growth. A lot of incredibly consistent (global) economic trends upon which people presume to rely indefinitely as bedrock will simultaneously fail when global population peaks and shifts into decline. In other words, unless you're bringing a wealth of expertise on all those various other influencing factors, then you're putting your faith in that remaining "reliable" growth factor that's already tiny, steadily decelerating, and will eventually reverse.
Most people don't buy PMs thinking that they will increase in value compared to other commodities, but rather to hold value in comparison to fiat currency which governments constantly devalue through inflation.
finally someone says it. People go "well fiat moneys worth is just based on other people thinking it has worth, so its worthless" and as an alternative invest in gold, whose worth is also just largely based on perception...
For real. Anyone who wants to buy gold or silver should ask themselves why gold and silver merchants are desperately spending so much money pumping to get you to buy their gold/silver if they really believe that the dollar's value is going to go to zero like all their fearmongering ads say.
THE LEGENDARY SERIES RETURNS Can't wait to hear some fresh advice from a famous crypto millionaire and creator of one and only bagel butt NFT collection
I had a client once who put all of his nest egg in gold and silver, just after he retired in, I think, 2012. He read some BS like what Robert K was saying in that video and believed he would propser as the world burned down. Instead his net worth was obliterated. It was so painful to see.
Robert Kiyosaki and Grant Cardone actually serve a really important societal function... Anytime you hear someone touting them or linking to one of their videos, you can feel extraordinarily confident that a) that person is a bottomless sucker who's susceptible to the most obvious grifters; and b) that person will never contribute anything interesting or valuable to any serious conversation anyone will ever participate in. As a time-saving mechanism, they're basically unmatched...
Platinum's value fluctuates more like an industrial metal due to its wider range of industrial uses, while gold behaves more like a traditional precious metal.
Two points : - This kind of videos are not only really funny, but also informative. While your "community" is probably not the same as the one of Grant Cardone, we still have our biases. - Talking about Grant Cardone ; where can I find that investimment that returns me 10% per month ? "Getting an allowance of 300$/month, buy a piece of real estate that pays you 30$/month"
@@austinduke8876 it happens a lot. I bought bitcoin in 2013. Paid cash for a house after selling it in 2017. I also bought into vanguard ETFs with the remainder after tax, it’s worth just shy of 300k today. I still dabble with bitcoin. I’ve never once taken a loss. It always comes back.
kyosaki was always a conman. i mean rich dad poor dad, its all about speculation in real estate and also having a high paying job. dude was military pilot, flying helicopters in vietnam and commercial after discharge if i remember correctly. thats the whole book basically, high paying job, saving as much as you can and speculate the real estate.
I agree he's a conman and Rich Dad Poor Dad was probably filled with lies and/or exaggerations but the reason so many people like the book was because there is some good advice. One of the basic ideas is that rich people and poor people handle money differently. His contention was that rich people invest in assets that will grow and pay them more money later while poor people spend their money on liabilities like expensive houses and cars. For two guys making the same x amount of money if you have one that is frugal and invests in real estate he will have more money than a guy buying a new car every few years, trying to impress friends with expensive clothes, etc. Eventually the guy that invested will be able to have all those things too.
Thanks Richard, love this series. (Also, if you aren't a dad, put that on your list sir. You'll do great and your kids would be a blessing to humanity.)
12:30 Robert Kiyosaki nowadays runs conferences where he pushes his products (books & board games) with panelists that try to push financial scams, from reputable financial author to large scale grifter.
Lollll that second one. Her head was hiding what looked like a big negative number. I know it could have been just the one-day return, but it also could be her all time return...
about robert kiosaki (however it is actually spelled), I read rich dad poor dad and can confidently say it is a freaking scam so the dude has absolute not changed
@shubamrachappanavar2708 it is not bad, it is PURE DUMPSTER FIRE TRASH. It teaches young people to think all poor people are somwhoe at fault, that they are morally lesser, it makes some stupid advice like join an MLM company to "improve your marketing skills" and all the actual good shit in the book can be summarized in like a few pages. I'd rather have no idea how investing works than have that wrong of an idea.
Great content Richard! How I wish it took an hour a week. I take hours to come up with a daily trade list and got stopped out two times yesterday. Diamond Steps- LOL p.s. the screening hours do not include the hours to study new concepts learned along the way as well as reviews of past trades.
The gold and silver thing amazes me. The sales narrative conflates backup currency value and growth investment potential as though those two conditions aren’t 100% antithetical…
Everyone sounds like a genius during a bull market, and as they say, empty cans makes the loudest noise, a lot of smart investors are quite low key and humble people
Nice shout out to Money & Macro. Another great channel in the space. Love these Tiktok reviews. Younger kids need to realise the early grind is all a fad to sell courses.
Quick Correction: in the first tax TikTok, I mention needing to be incorporated to deduct expenses. This was a mistake - I meant to say you generally need to be self-employed, which doesn't require incorporating (you can deduct expenses as a sole proprietor). Apologies for the slip up.
I'm so poor I always get money back lmao never needed tax evasion
@@ii8283 so you lend money to the government interest-free😢😢😢😢
🤷That's what I thought you meant.
It's ok I don't give a crap about finances either way
@@27shaqibshaikh75 that's great, you are on the right path, but I think you should consider getting a share of one of these giant index funds like IVV, SPY, or QQQ, they are statistically much safer and better investment than any REIT, by risk-adjusted return.
How to grow a portfolio from 500 dollars to 4.7 million dollars:
1. Put 500 dollars into an account
2. Put another 4.7 million into that account
Then withdraw the $500, or else you busted the cap.
How to become a millionaire.
1) Be a billionaire.
2) Listen to “not financial advice” on social media.
🤯
Then charge ppl money for your investing advice because you didn't actually make that much lol 😂
That's how Robert Kiyosaki did it.
He had TWO dads, one with 4.7 million and the other was poor.
“Just pick the best individual stocks bro” is the same as saying “just bet on the correct number on the roulette wheel”
If you’re homeless just buy a house, bro
If you are poor just buy more money
@@FilthyFloor If you are poor, just stop being poor!
"If I can just 10x 3 times"
That's only true if you're a low-information investor. Warren Buffett's method of investing, which uses individual stocks, is nothing like betting, and is wildly more successful than "just pick the index fund bro".
"Everything is tax deductible until you get audited" - The Money Guy
@@robby95036 it true
@@robby95036 that why paperwork talk
Yeah and just using business acounts for all of your expenses is awesome when the business goes bankrupt. Doesn't matter if it is an LLC those sweet protections are long gone buddy
Just like they say, everything is legal unless you get caught 😂
@@MOBMJ it's your only in trouble if you get caught 🤣😂
I love that last "advice"
1. Be given $300/month from parents.
2. Invest it in something that pays 10% a month.
OH!!!! so all I have to do is receive free money and invest it into something that provides unbelievable amounts of returns. OF COURSE!!!!!
Just 10%??? If you're not doubling your money every month, what are you even doing?
Pft, if you don't make 1000% a month, you are a failure.
Also being given that money with little immediate critical needs and/or expenses helped
its only like that cus Boomers control 90% of the wealth in America.... because they make the policy. Theyve been taking and taking from the system for years.
yo yo i wasn't paying attention to the return rate. at my end, high saving yield are doing 8%. now image making more than that but after 30days. crazzy!
11:25 Yeah, why does no one copy the queen of england's investment strategy of being born into the royal family? We're clearly all thinking too small
How to be rich:
- Be born in the line of succession of a rich monarchy
- Profit
🤯
Are you hungry? Do you need money to buy food? Have you tried being born into a wealthy family? It's very easy!
I'm suddenly reminded of the Emporor's New Groove and this quote from Yzma (the main villain)
Yzma : It is no concern of mine whether or not your family has... what was it again?
Peasant : Umm... food?
Yzma : Ha! You really should have thought of that before you became peasants!
Not only a dead giveaway that he has no clue what he's talking about, but also *_really annoying._*
A) "I don't know how much she's worth." It is a _three second_ google search.
B) The king of England is worth LESS than Bill Gates. *_By two orders of magnitude._*
Robert Kiyosaki has been using his fame from "Rich Dad, Poor Dad" to sell bad and unethical financial advice for decades.
He was kind of a shady character from the start. Rich Dad himself appears to be fiction, and there’s a bit where Kiyosaki straight-up says to make friends with high-ranking businesspeople and see if they can throw you some insider information.
Kiyosaki claims it’s not insider trading because you’re not the insider, but Martha Stewart’s conviction says otherwise. She benefitted third-hand - an insider (who, granted, was also a friend of Stewart) told his broker to sell a bunch of shares. The broker called Stewart and suggested she sell. If that’s close enough to count as a felony, outright asking your golf buddy for insider tips definitely does.
@@Magic_beans_ Rich Dad, Poor Dad was just a good way to explain assets, liabilities, and equity to people without basic accounting knowledge. The only real downside to the book is that it is overly optimistic on real estate, doesn't properly explain the risk of debt, and is often used as stepping stone to sell people bad financial products.
And people keep falling for it. It's one of the most popular personal finance books to this day.
In 1 of the Interview, he admits that. He literally said his advice was not any different from people who write book about finances before him, the difference was he was just better at Marketing.
He told a Story where he had a Conversation with a Professional Novel Writers on how to write a better book and become the best seller. He told the writer to take a Marketing Class, and the Novel writer got offended by that because he told her Marketing skill is more important than writing skills when it comes to selling books.
Yes, very creepy these days and hawking shady investment gimmicks. Worse then Ramsey U.
Cardone really just said "yeah, just get $300 allowance a month as a 14 year old, easy" and didn't even blink, what a ridiculous person.
Right? 300 bucks a month as a 15 yo???
Exactly my thought. Even with inflation _and_ summer jobs I wasn't making even half that.
Nah man, you just need 300usd total by that age and invest it into something that pays you 30usd back each month. Reinvest those 30usd and you will have tens of millions by the age of 30
I won't lie though when I was around that age I walked my elderly neighbor's dog and she gave me $200. I felt so bad that I tried to give it back. I really gave it to my friend who ended up not being a good friend. The woman was giving us $100 each time we walked her dog. I had no idea what the value of money was, so it's gone now.
@@herpyderp3384classic 10% returns each month 😂
As a CPA, I often come across the "spending to save taxes" idea, which is a bit stupid if the "spending" is discretionary. Spending 80% of a dollar to save 20% of it. Want to improve your bottom line? Don't spend if you don't have to.
I live in New Zealand, where they changed the law recently so capital gains applied only if you sold an investment property without holding for 2 years (instead of 10).
The majority of new investors held through a massive bubble until the law changed, then sold after the market crashed, to avoid taxes. As one glib commentator pointed out, they lost money doing this, in real terms, after taxes (or lack of). But psychologically, many of them still consider that they "won" somehow
Exactly lol
Yeah, tax avoidance won't really help you when you don't have money.
@@the_newt_nest Yes, it's way more useful as a stay wealthy behavior
@@FrankWinchester Smart boyz.
I suspect Kawasaki realized he could make more money selling fear than investment knowledge. He checked in his integrity and went all in on grift.
100%. He’s absolutely insufferable.
Kawasaki doesn't know anything anyway. Grifting is all he ever had.
15 years ago I didn’t know anything about investing and wanted to start to learn. I went to a used bookstore and the only book on investing they had was Rich Dad Poor Dad. I read 1/3 of the book, then realized that the advice being given was purposely vague platitudes with virtually no executable advice. Then I went down a rabbit hole researching his background and let’s just say he’s always been a charlatan.
@@JRRob3wnIn _Rich Dad_ he straight-up advises making successful friends and asking them for insider information.
For reference, Martha Stewart went to prison for using third-hand insider information. The ImClone insider and her used the same broker, and the broker said “Hey this guy’s selling, maybe you should too.”
I enjoyed RD, PD and Unfair Advantage. Huge for a high school kid back then. I read Millionaire Next Door and those books really shaped my finances.
Haven’t listened to Robert since like 2015. I’m so done with him.
I remember he was pissed and annoyed and insulted this RUclipsr when he was on his show. Called it stupid. Since then, haven’t listened to him. Insufferable.
The camera glance after "...to millions of dollars!" was worth the whole viewing.
It's great to see you reach almost 1 million subscribers, Richard. Been watching you for a long time, you've really helped me learn more about investing.
I hope you have a great weekend :), Cheers.
At 6:38, you can catch a glimpse of her net change, which begins with a -36, so her stocks DID lose money over whatever period it was. Also, just by checking NVDA, which was up 245% means that AT BEST her portfolio occurred around June 18th ($135.58) with the start being around June 9th 2023 ($38.77) to get that type of return, so it was at least a year of difference.
Thanks for this. I was hoping someone put in the legwork in the comments
"Follow my diamond process, and you too can turn $5 million into $4.7 million"!
The most important thing to understand about an influencer teaching you anything is that they can just lie. Tax guy can be telling you one thing while doing something else. "$4million portfolio" woman can have a negative net worth and her entire portfolio is just a faked up picture. They can just lie, and if they're ever caught out they can act like YOU are the stupid one because they're "just telling stories" or whatever. They can lie and lie and lie with no consequences, so they do.
If these influencers could really teach you how to “easily trade” and get rich quick, guess what they would do instead of RUclips. Making RUclips content is way harder than clicking buy/sell.
That’s why you should only trust people who prove themselves and are confirmed by others
it's the old saying, the best way to make money is to write a book telling people how to make money.
@@luisfilipe2023You need to have seen their ledgers in complete and in person. The only time I'd trust them is if I was their accountant.
Indeed. Add in the profit incentive, and it's a no-brainer. It's not just finance either. It's everything. The internet is a great reflection of humanity. Just like MMO games are.
I like how the 4.7M lady points out the gains, but at the top it looks like she down about 36k. Like Richard points out, she avoids showing all the stocks with negative returns.
I noticed that too as I am familiar with negative numbers on my investments lol.
Whatever it takes to sell people something I guess
I wonder if that's actually her account even? Is she a trust fund baby or did she just edit html elements
i think thats just daily p&l
Had she invested all her money in VOO, that would not be a loss:)
No one's talking about how he said "Just buy real estate at 15" lmaooooooo I can't believe those words even came out of his mouth. Great content once again from you Richard. Glad I don't use Tik Tok or follow really an "finfluencers" I make my own decisions and do my own research.
buy a doll house and rent it out to other children maybe?
I did listen to a podcast of a 17-year-old girl that bought a rental house. She and her boyfriend got the down payment by flipping furniture on Facebook Marketplace. She still needed her parents to qualify for the mortgage, though.
The hero we wanted and needed. These videos is a wiff of fresh air in an otherwise thick moisty fog which is the finance space. I've been active in it for over 6 years now and the amount of bs i've witnessed over that period... In other words, your harsh reality content is very much appreciated and puts a smile on me face. Keep it up my favorite pastry👊
The fourth wall break by Richard when she says 500$ to Millions, is PRICELESS.
Jim
"If you get an allowance of $300 a month, buy a piece of real estate..."
How much does he think real estate costs? If you could afford any revenue generating piece of real estate for $300 a month then we'd all own it.
Houses are going for $290k where I live. You can buy a piece of dirt say 2x2 feet for $300 and that's about it.
@shubamrachappanavar2708 With most REIT's you can't just deposit a couple hundred dollars though, you usually have to go in with at least 5k. Or at least that's what I've seen.
@Lonovavir I hope he has the money left over for the 2% property tax on that 2'x2' plot!
You can always just buy a fraction of REIT stock. It's technically buying real estate. The reality is that they are volatile and usually underperform index funds.
@@MJ-uk6lu same as real estate underperforms index funds
You can't shake a bullshit tree and expect facts to fall out. Great video.
Oh man, imagine you call your landlord to come out and fix your AC or take a look at the water heater and a fifteen year old in a Fortnite shirt shows up at your doorstep. I am *cackling*.
I love the girl in the second one about index funds going through all of her individual stocks but yet she moves her head and gives away that her overall portfolio is negative anyway lol.
I really appreciate you emphasising that it's important for kids to just be... kids. Like, life is shockingly long and shockingly bland as an adult, there's a reason why we all think back fondly to our childhoods. It's depressing to think teens these days feel pressured to hussle already, like you have 60+ years of your life to do that. No need to rush.
Plain Bagel is such an important person in this space that I'll always like his content regardless
I love how he removes all the BS from finance. And explains everything so well.
I love how social media is convinced "writing taxes off" applies to anything regardless of how tangential it is to your business, and they often act like its free money when the stuff they talk about would result in maybe 100$ back at the end of the year if they're lucky
Yeah If you can’t afford something because of tax, then you can’t afford it at all
Some of the people giving that "financial advice" admit that it's just fraud they make up for entertainment. Like one guy who went viral for his "life hack" to take a $10,000+ loan to start a business, buy yourself a really expensive watch with said business, and then declare bankruptcy and let the bank eat the loss (something that would get you sent to jail for fraud and embezzlement).
@@shadowninja6689 hIrE yOuRsElF aS tHe BaNkRuPtCy LaWyEr
And then write off your own fees for tax purposes, its life hacks all the way down.
All you have to do is always pick the best stock. Come on people!
How hard can it be? :D
This is actually my favorite youtube channel
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions
try contacting a financial experts. They can provide knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market.
Based on personal experience working with an investment advisor, I currently have $800k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.
Thanks for sharing this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
Grant forgot the fact that Goldman Sachs needed Buffett to save their arse in 2008.
Grant forgets a lot of things.
@@TheNaldiinlike the difference between a million and a billion, or the difference between assets and assets under management, or how to not be a fraud
@Iceman259 yeah, you know, the little things.
Does it count as forgetting, if he just too dumb to know it?
I think Berkshire has 2 trillion in assets under management. The reason why buffet is great and why everyone went to him for a bailout is because he carries billions in cash.
Cash is king, and Grant should follow his advice 😂
I’ve rewatched every episode a million times and I’m so excited for episode 7
"a lot more of life, especially for kids than just chasing dollars" ❤
You are a great RUclipsr Richard, but an amazing human being
The phrase "everybody is an idiot except for me" is the motto of the day. I consider myself lucky for having low enough self esteem that I've always invested with caution and an approach of learning, balanced with distrust of any single person or group. If you care about your money, treat it with care!
I have low self steem too! Let's hangout and doubt our capabilities!
You will never be broke and never be rich 😅
I once interviewed top international poker players in a tournament for a magazine. One of the top guys gave up being a surgeon to play professional poker - he was a great thinker and had written books on playing strategies. I asked him for some ranked tips for the readers (magazine layout loves numbered points!) His number one priority (and same goes for most pro players during a game) is money management. That is: All your betting strategies must come from protecting what you already have.
> "I grew my investment portfolio from $500 to millions of $4M" (8000x)
> best position returns less than 300% (
Brilliant as always Richard. Your discussion with your fellow portfolio manager colleague put me onto the CFA course (currently studying for my Level 1 exam) so thanks!
Brian Rose and Grant Cardone in the same Tiktok feels like someone needs to summon Coffeezilla from the Vatican for an exorcism.
💯
A piss-drinking former UK mayor candidate and a scientologist. The crossover no one asked.
HAHAHAHAHAHA
Does anyone even believe this Cardone guy? Everything he spouts seems to be BS.
@@CST1992 he had a solid reputation back in the day as a sales trainer; but now he just went all in into motivation/scam garbage and his legacy is total trash now
Bro if these are the people who are giving financial advice we're cooked. My favorite quote from Charlie munger - If we sell horse manure we don't pretend it's the cure for cancer.
It is the cure for cancer, in a way.
Actually its time for us to make money
Someone has to lose money so we can earn it
Cow manure is...in India
@@TheThreatenedSwan oh.
If that makes you feel better, they are not new in this game. There have always been sketchy characters in anything involving finance.
The thing about precious metals is that while they are rare and finite, that isn't what makes their value _increase._ The increase in value depends on increasing demand relative to supply. If it isn't happening because of technology shifts, supply changes, or public/investor sentiment on the overall economy, then it's ultimately just tracking population growth.
A lot of incredibly consistent (global) economic trends upon which people presume to rely indefinitely as bedrock will simultaneously fail when global population peaks and shifts into decline. In other words, unless you're bringing a wealth of expertise on all those various other influencing factors, then you're putting your faith in that remaining "reliable" growth factor that's already tiny, steadily decelerating, and will eventually reverse.
Most people don't buy PMs thinking that they will increase in value compared to other commodities, but rather to hold value in comparison to fiat currency which governments constantly devalue through inflation.
finally someone says it.
People go "well fiat moneys worth is just based on other people thinking it has worth, so its worthless" and as an alternative invest in gold, whose worth is also just largely based on perception...
Richard, I love your honest opinions without BS!
"FORGET MONEY! Money goes down in value. IT'S USELESS. You need to get SILVER!"
"Cool. What can I trade silver for?"
"MONEY!"
Well if you get transported back in time with all your silver you could buy like an ox or maybe a heard of sheep with it
The real answer is to buy salt and time travel to the past.
Tea, from China.
For real. Anyone who wants to buy gold or silver should ask themselves why gold and silver merchants are desperately spending so much money pumping to get you to buy their gold/silver if they really believe that the dollar's value is going to go to zero like all their fearmongering ads say.
@@shadowninja6689 those world gold council ads on bloomberg run a dozen of times per day
I know this is your easiest to produce content and your deep research videos contain some excellent info. But, Mr. Bagel, this stuff is hilarious.
THE LEGENDARY SERIES RETURNS
Can't wait to hear some fresh advice from a famous crypto millionaire and creator of one and only bagel butt NFT collection
I had a client once who put all of his nest egg in gold and silver, just after he retired in, I think, 2012. He read some BS like what Robert K was saying in that video and believed he would propser as the world burned down. Instead his net worth was obliterated. It was so painful to see.
Have you looked at a gold chart lately
If it was gold in 2012 then he's fine.
@@flyerton99 He already cashed it in after the price crashed compared to when he bought it. Locked in his losses.
@@carlgarrett5142 buy high sell low
The index fund lady is almost saying "if the stock goes up, it will never fall", with that mindset no wonder she hates index funds.
I missed your shady side eye so much, very happy to see this land in my recommended.
Robert Kiyosaki and Grant Cardone actually serve a really important societal function... Anytime you hear someone touting them or linking to one of their videos, you can feel extraordinarily confident that a) that person is a bottomless sucker who's susceptible to the most obvious grifters; and b) that person will never contribute anything interesting or valuable to any serious conversation anyone will ever participate in.
As a time-saving mechanism, they're basically unmatched...
Platinum's value fluctuates more like an industrial metal due to its wider range of industrial uses, while gold behaves more like a traditional precious metal.
Two points :
- This kind of videos are not only really funny, but also informative. While your "community" is probably not the same as the one of Grant Cardone, we still have our biases.
- Talking about Grant Cardone ; where can I find that investimment that returns me 10% per month ? "Getting an allowance of 300$/month, buy a piece of real estate that pays you 30$/month"
Let’s goooooo! Happy to see this format return.
It’s too bad we’ll probably never reach the peak of 2021 investing TikTok
Ah, 2021. What a glorious time of horrible advice.
I mean, it's for the greater good.
I am so disappointed, there was no crypto TikToks now, miss 2021
That shit was amazing. I remember some kids arbitraging crypto tokens and using the interest to buy a million dollar house at like 19.
@@austinduke8876 it happens a lot. I bought bitcoin in 2013. Paid cash for a house after selling it in 2017. I also bought into vanguard ETFs with the remainder after tax, it’s worth just shy of 300k today.
I still dabble with bitcoin. I’ve never once taken a loss. It always comes back.
Always love your no nonsense approach ;-)
Nice to see you again, your last video caused quite a stir. Cheers from AU, PB.
I love that RUclips continues to recommend get rich quick schemes under your videos
Love watching Richard rail on these Tiktok investor snake oil salesmen 😆
My favourite series on this channel!
I think you, Patrick Boyle, and Money & Macro are the best economic RUclipsrs.
I love how the word tarot is now pronounced "Tear-Ot" in the financial world.
Love the music snippet choice for the Robert Kiyosaki segment!! IYKYK.
Loved the David Graeber shout-out. I'm reading Debt right now!
Nothing will ever top the penny stock video you reacted to some time ago. I still randomly remember it in class 😂.
The editing is flawless. Every time the metal music came on I was 😂😂😂
kyosaki was always a conman. i mean rich dad poor dad, its all about speculation in real estate and also having a high paying job. dude was military pilot, flying helicopters in vietnam and commercial after discharge if i remember correctly. thats the whole book basically, high paying job, saving as much as you can and speculate the real estate.
I agree he's a conman and Rich Dad Poor Dad was probably filled with lies and/or exaggerations but the reason so many people like the book was because there is some good advice.
One of the basic ideas is that rich people and poor people handle money differently. His contention was that rich people invest in assets that will grow and pay them more money later while poor people spend their money on liabilities like expensive houses and cars.
For two guys making the same x amount of money if you have one that is frugal and invests in real estate he will have more money than a guy buying a new car every few years, trying to impress friends with expensive clothes, etc. Eventually the guy that invested will be able to have all those things too.
Those quick doses of heavy metal get me every time. Love it.
Loved the part about investing in assets that grow rather than investing in precious metals
Thank you Richard Bagel
Thanks Richard, love this series. (Also, if you aren't a dad, put that on your list sir. You'll do great and your kids would be a blessing to humanity.)
When the world needed him most he returned.
Goodness gracious me, it's so refreshing to hear good information about personal finance for once😂
What a great way to start the weekend with some new Plain Bagel. 👏
I love that you brought up David Graeber
Finance Tiktokers: INVEST EVERY CENT YOU HAVE AND GRIND HUSTLE 24/7 OR YOU'RE A FAILURE
Plain Bagel: be a kid and enjoy your life
I got a Grant Cordone ad right before the Grant Cordone bit. I was very confused for like five seconds.
Grant Cardone has gotten so Grant Cardone that he's become a parody of Grant Cardone.
The snakeoil salesman drips infinite amounts of snake oil, more and more as time goes by.
😂😢😅😊
Much needed video, since the clown market made a full come back this year. Can't wait to see what kind of degeneracy people are coming up with now.
MORE OF THESE PLS
Silver is an industrial metal. Currently there is a high demand for it with solar panels.
But it is not rare.
lolol the look at the "500 to millions" is why i follow you
My favorite show on RUclips
Would love a history of different forms of money\value video
12:30 Robert Kiyosaki nowadays runs conferences where he pushes his products (books & board games) with panelists that try to push financial scams, from reputable financial author to large scale grifter.
“Investing is easy just have money and then you’ll have money”
"When the shoeshine boy start giving stock tips, its time to get out of the market" - JFK Sr about the 1929 great depression
Lollll that second one. Her head was hiding what looked like a big negative number. I know it could have been just the one-day return, but it also could be her all time return...
about robert kiosaki (however it is actually spelled), I read rich dad poor dad and can confidently say it is a freaking scam so the dude has absolute not changed
It's 98% storytelling and bragging, 2% financial advice some of which is illegal.
@@Lonovavir untrue storytelling for the most part, I may add. Also what you said checks out.
@shubamrachappanavar2708 it is not bad, it is PURE DUMPSTER FIRE TRASH. It teaches young people to think all poor people are somwhoe at fault, that they are morally lesser, it makes some stupid advice like join an MLM company to "improve your marketing skills" and all the actual good shit in the book can be summarized in like a few pages. I'd rather have no idea how investing works than have that wrong of an idea.
Woooo fiscal responsibility. Richards save the world handling the boring stuff so you don’t have to. Please support your local Richard.
Woo
Woo
Mr. Bagel and have a happy weekend at debunking of "How TikTok Works?" at instrumental finance
Love these videos. Keep em coming 🎉🎉🎉
Simple wisdom is never listen to someone who's selling a course.
If they were really that good at investing they wouldn't be selling courses
In a world full of absolutely horse sh** we all need a Plain Bagel ❤
Great content Richard! How I wish it took an hour a week. I take hours to come up with a daily trade list and got stopped out two times yesterday. Diamond Steps- LOL p.s. the screening hours do not include the hours to study new concepts learned along the way as well as reviews of past trades.
The gold and silver thing amazes me. The sales narrative conflates backup currency value and growth investment potential as though those two conditions aren’t 100% antithetical…
Haha yes I love this content. This is how I found this channel
You have great content. Love your Channel
Everyone sounds like a genius during a bull market, and as they say, empty cans makes the loudest noise, a lot of smart investors are quite low key and humble people
I love how realistic you are especially when compared to the influencers featured in the video 😂
I mowed lawns when i was 10. I bought a paintball gun, not a property. No regrets
Nice shout out to Money & Macro. Another great channel in the space.
Love these Tiktok reviews. Younger kids need to realise the early grind is all a fad to sell courses.
You are really doing the gods' work
I'm so glad I subscribed to your channel. Edu-tainment!
Thanks Richard, great video even though we know how uncomfortable it makes you watching those TikTok videos.
Thank you for what you do man.