4 Signs You Are Above Average SCARY Money Stats (Even If It Doesn’t Feel Like It)
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- Опубликовано: 16 июн 2024
- Do you feel like you are behind financially? Here are 4 signs you are above average (scary money stats that will shock you). This is the video where you can see how well you are doing financially. In the United States of America, there are a lot of people who look like they have money, they look like they have a life altogether and look rich. But the truth is many Americans don't have much money. If you watch this to the end you may learn that you are richer than you think. Here are four money stats that may scare and shock you, but at the same time, you may find out you have more money than the average American.
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Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.
rich people stay rich by pretending to be poor, poor people stay poor by pretending to be rich'
I like that. I live in a fantastic house and continue to invest in it by working in it, BUT my vehicles are modest and usually 8 years old when I buy them. I buy them for economy and reliability.
10 điểm
10 points
I am the wealthy guy that drives a 12 year old Camry and loves to look poor. It keeps the Gold Diggers away -:)
Agree w your choice of car. Love Camrys, and Toyota in general.
ABSOLUTELY ♥
@@enriquesanchez2001 real way to live. people think they need fancy, it is only transportation from A to B I drive a 13 year old car and have a 26 year old pickup. I do spend for my wife a little though she hauls the kiddo and grand kids around so i make sure they are good. I keep my cars until they just plain stop running or the wheels fall off. age 51 and need all the savings and investments i can so i dont have to work until death. fulltime at least. LOL
Me too! 👍
I drives a 20 years old Camry and wealthy, but lives fugally and happy
Forgot to mention TRUE wealth is your physical health
That is very good, but truth wealth is your walk with GOD.
The "poverty' in Jupiter Florida is apparent
Why Jupiter FL?
Speaking from experience , you need wealth to take care of your physical health…there was a time when I did nit have enough to see a doctor and when I could finally afford proper care, it took me two years to get my health back
Amen, brother! Stay as healthy as possible so you avoid the healthcare system nightmare as much as possible.
Retired at 61. Zero debt. Over 1M invested in stocks. I drive a 2000 minivan and a 2018 pickup. The secret is to live below your means and be happy with family and life and not stuff you buy.
This is it. Everyone has a threshold in their head, the amount which would help them retire. Truth is all you need is a decently sized emergency fund so that you don't have to worry about Healthcare, and 1 house so that you don't pay rent. Other than that, basic amenities is all you need.
Nobody cares
@user-nt4nb4cn1j Looks like it does bother you. You seem to care. Insecurity is a b**ch! Jealous much? 🤣🤣
Yeah well my grandmas grandma retired at 3.
Yeah but you also need most people to waste their money on consumer goods so that your stocks perform well
I know a guy:
1. who lives in jeans 7 days a week
2. Never owned cable TV
3. Always brought his lunch to work
4. Never bought a new car
5. Worked 2 jobs
6. Took a vacation once a year
7. Mowed his own lawn
8. Cleaned his own house
I’m that guy at 62 and very happy in my life.
I know a guy who had no money for education joined the military,
used that for the GI bill,
got his engineering degree.
Married his college sweetheart.
Worked on jet aircraft
Bought all kinds of new cars including Porsche.
Ate at good restaurants.
Went on nice vacations.
Mowed his lawn
had 2 cool kids
Retired at 51
Living well in the Pacific Northwest
With tons of savings
And I’m pretty damn happy
@@jimsteinway695 JUST EXCELLENT !! Student debt - car notes and heavy consumer debt CREATES economic slavery. Bravo to you for not embracing the madness
@@jimsteinway695tell us more about yourself ... "Cool kids" 😂😂😂😂 🙄☠️
@@jimsteinway695 Sounds like you got a book in you, Jim Steinway. I'll be looking for it on Amazon. Your name says, "There's a best selling author." You name is very marketable.
I know a girl who has never been to a hairdresser \ never had her nails done \ buy clothes on ebay \ mows and weeds her own yard \ sold the car and enjoys long walks and public transport \ brings lunch to work every day \ stopped contributing to work lotto \ pay bills the same day of receiving \ does not drink coffee \ deposits 98%of her wages into an online savings account and\or retirement investments \ crochet rather than scroll mindlessly on a phone \ never ever visits any social media \ donate bags and bags of clothes n boots if not worn in a year \ zero subscriptions as she has Plex media servers \ - that girl is now 60 and very happy
Lived *below* my means my entire working life. Saved money every month. Never ever used credit cards. Retired at age 60.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.
For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.
It depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an asset manager. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape. I have about ($1.25m) in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little in retirement accounts. To be completely honest, the information provided by managers can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Impressive can you share more info?
’Sonya Lee Mitchell’ is the manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I searched her full name online and found her webpage. I emailed to make an appointment to talk with her; hopefully, she gets back to me.
Buying a house and renting it out? No thanks. Landlord headaches. Trust me.
No if you have tolerating tenants & a DIY guy. My 2 family house in NY paying for my current mortgage
Totally depends on the tenants, I’ve had the same couple for at least 6-7 years, pay on time every month, keep the house looking great and fix most things that come up, they treat the house like they own it. But I’ve heard horror stories about bad tenant ,
I was below average before I watched this video, and now I'm above average. Thanks.
Love that comment!
@@randallhoover210 I just found out women don't think 100k/yr counts as "six figure income". We lose again!
@@kittydaddy2023😂😂😂
If 100k ain't 6 figure I don't know what is then lol
@@livelovelearn360 they probably only see 0s as figures..
I find a nice dependable car that I can pay cash for...then I drive it until the wheels fly off!!! Car payments will drain you.
It feels great my friend .. rolling in the 2013 Maxima with 0 car payment to a pretty good job isn't sad ❤
Yep. Even if you pay the maintenance on an older car to keep it up, there's no nagging monthly payment. I have two 180k mile cars, and they work fine. Point A- point B😊 most cars last 300k+ if you keep up regular maintenance. I'll still probably be driving them 15 yrs from now.
I plan to chauffeur each of my kids to their respective weddings in my used 2016 Honda Odyssey (which I’ve held the note since 2018). I doubt they will accept, but the offer still stands.
Same here.
Cars payments, gas, insurance, mechanical costs
I read the book "The Richest Man In Babylon" by George S. Clason in 1972. The book came out in the 1920s. It is still available today. It is the best financial management book I've ever read. I followed its advice and became financially independent when I turned 55. I am now 82 and still financially independent. I liked your video. Thanks.
Retired at 94. Enjoying wheelchair racing on weekends. Still have four natural teeth.
Lmao 🤣😂🤣
LOL. Love it. Hahahaha.
Smh😂
Mate you should retire earlier
I’ve been in the nursing profession for over 25 years. From day one I used dollar cost averaging to maximize my 401(k) and IRA. I always brewed my own coffee and packed my own lunch ultimately saving thousands upon thousands of dollars. Today I’m 52 years of age with $1.6 million in net worth Looking forward to early retirement.
Well done .🙏❤️👍👏
Cheers to your success. Thank you so much for sharing your story with others here on this channel. And thank you for watching. I’ll see you in the next video.
I drove my beat up 1981 Mustang for years while my co-workers bought new Trucks, cars, etc every 2-3 years. At 277K miles, I rebuild the engine and put in a new clutch and drove it about 9 more years. . I put the maximum into my retirement acct. at work each payday. I did not buy a new cellphone every 6 months. I lived in a modest house. Retired at 62 with just over $1 million net worth. All on a salary under $60K People need to live a frugal life, not be seduced by the glitter out there.
Cheers 🍻. I love hearing that. Would you count the equity you have in your home as net worth?
@@geod3589 that’s true wealth I’m so proud of you I had such bad Habits doing everything u just wrote tilll about 2019 before pandemic my eyes got open paid 55k in credit card debt off I have one car loan about 10k left and student loan of 47 then my mortgage . I know if I get focused again if I was able to pay off. The credit cards and cut them and l never use them again and stay focused I can pay off car keep it for years and then student loan then mortgage and investing i I currently invest 2 k a month I’m a registered nurse . Make about 120 k a year in miami Florida. Would u just lower contributing to what employer matches which was 1% but got email just a month ago it’s going up to 3 % and throw that 2 k off to car loan and student loan . I had to get a Malibu 2023 because my paid off car my son was hit by a drunk driver and he left the scene . Thanks in advance for your wisdom . Made so many mistakes in my 30’s now I’m cleaning up the mess . In my 40’s I wish I would of found this wisdom earlier in life 🤦♀️🙈🙏🙏🙏
I sold our house in a very large city, and moved to a smaller city. House was paid for, and when I sold it and moved to the lower cost of living city, I paid off the new house and pocketed a few hundred thousand. Best move ever.
Wow how fucking lucky you that you just... owned a house in a big city. How incredibly lucky.
I'm 28, how am I supposed to buy a house in a big city and then sell it for a profit later? When we can't even afford basic shit
@@TheScrubmuffin69 ask yourself why you can’t afford basic shit.
@@TheScrubmuffin69 I paid this house off over a period of over 25 years after saving for a downpayment that took over five years.
@@TheScrubmuffin69 You have to be a baby boomer and bought the house in the 70s for $50k.
Living like a college student until you’re 60 sounds like hell.
25 years ago a colleague chuckled i was living like a college kid. said I wasnt living... i retired a few years ago, early 50s, a multimillionaire... he's still working and he turns 70 this year... who's living?
It is but never being able to stop being a wage slave to people who don't have your best interest in mind and are dumber than you is worse.
Not necessarily like “a college student.“ Living responsibly, and within your means, but still having fun.
Most college students are getting deeply in debt. How is being debt free living like a college student? 🤔
Not living like a college student. Just living within your means. Way too many folks out there spending hundreds every month just on interest on crap they didn't really need. Also, if you're in your early 30s, just investing 5% will produce life changing numbers in 30 years.
The first few minutes remind me of the old saying: “New money screams, old money whispers”. It really is better to whisper…
Yes I get it and nothing against the principle of what you're saying but theres so many people in these comments preaching about their frugal lifestyle to the point where its mind numbingly condescending and preachy. If someone prefers to ride a bike every day and bring a bagged lunch then fine but heres the ultimate thing - its all relative. Someone that earns 200k per yr individually in florida for example can afford nice things, enjoy the finer things while still saving. It's a bit different than someone making 65k their whole life. And while someone can preach on and on about never taking vacations or enjoying anything awesome in the spirit of having exta money when theyre 70 then well...sounds like a crap life to me. Making more money solves everything.
That is the dumbest shit I’ve ever heard.
Thank you very much, Jerry !.....EGO, this little 3 letter word is the Reason most people are in Debt and live a Miserable life with a lot of Things they don't need !...Satisfy your Needs, have very Few Wants ; that is the Secret of Contentment...and Contentment is the Secret of LIFE !!.....Enjoy the Show , that others provide.....and be Happy for them and yourself . ....You always make me think, Jerry...THANK YOU.....Take care..
Nailed it! It's all about "wants & needs"
I'm 66, I have $220,000 in savings, I save $2,000 monthly (50% of my net pay) and I have no debt. I like no risk "investing", so high yield savings accounts are for me, and I'm getting more
than 5% right now. I'm "semi-retiring" in The Philippines 4/2024, where the cost of living (overall) is about 50% LESS than The U.S., and I can live VERY well there for $1,500 monthly, work
only 50 hrs. monthly, collect my Social Security and savings interest income, pay all of my expenses (including a premier private health plan) and still save $30,000 every year.
I plan on retiring in the phillipines as well!
@@shyonemami7388 I've postponed my move to P.I. until all of the problems in motion in America are resolved and/or better managed, as
I expect being in another country (in months to come) could present BIG problems accessing and managing your money ( among other
impediments). I'm also concerned about China, as I expect them to attack Taiwan this year, and that will cause big problems in P.I. too.
Sounds good but those savings accounts won't exceed inflation
Mom at 16. Graduated as an RN at 21. Bought first house at 23. I was raised poor and on a mission not to stay poor. I have always put in 21% of my paycheck toward my 403b, since age 24, maxing out my allowable contributions by October due to overtime. I have bought, lived in, and turned 2 homes in nice neighborhoods into rentals. I made double house payment for years. I just turned 50. Set to retire in 1-2 years, on my own income (single). I just bought a trailer to live on my kids’ property a week or two/month in San Diego. I work part time now. Grateful all this hard work is paying off so I can focus on what I love, traveling and being a hands-on grandma. I have always lived frugally in my daily life (make my own coffee, never order drinks in restaurants, rarely go out, buy used cars for cash, never had credit card debt, but always splurged for regular vacations, 3-5x/year.
I started working at age 14 as a dish washer.
I wanted to retire at age 15.
You need to wash a lots of dishes.😂
When I retired at 52, people kept asking me, "Why are you retiring so early?" and my answer was the same, "I would have retired at 18 if I could have afforded to."
@motokev2727 My first job was a dishwasher when I was 15 in 1985 (I was earning $3.75 an hour and thought I was rich!!). My hard work and investing made it possible to retire at 47. People who learn the value of hard work early in their life almost always do better in life. It's why we have a generation in their 30's that never learned that lesson and are struggling while living in mommy and daddy's basement.
😂😂😂
@daveb2280 I started washing dishes at 17.. now at 44 I own my small business, paying myself 100k/yr.. on a 5 yr plan to pay off my home and 401k + multiple 6 figures in savings... the key to all of this,is never being without a job.. I never even graduated high school, dropped out to work and raise my son who came unexpectedly when I was 17.. he's now working in my small business and building his life.. 🙏
My grandfather always said, "If you make $100 a day, and you spend $99, you just made a dollar." He retired at age 58 in 1946. My Dad retired at 45 in 1966. I retired at 45 in 1991, and my son retired at 56 in 2023. My grandson plans to retire when he is 45 in 2036.
Yeah but did he retire enjoying his life in his early years or just worked his ass off and always thought about money ? What is money if your entire life is over now , specially your youth , money is not worth anything if you are old and tired .
Retirement? That spells: Nothing left to do. I'll never retire.
If your focus is to retire, your actually striving AGAINST the ways of our Lord. Think about this carefully.
@@briom1425 If you are fortunate you live to get old and tired, But empty pockets are a choice at any age. I planned (save/invested) for retirement and I get to play the bonus round on my terms.
@@briom1425 True. Life is a journey, not a destination.
True wealth is living within your means & having time to do the things you enjoy when you want to.
TRUTH!!!
That's true. But not so much if you are on your own......
I’ll buy that.
solid sound advice - thank you. i subscribed!
Always helping with your knowledge Jerry
Great video! Thanks
The average millionaire has seven different streams of income. I can vouch for this. My 9-5 job is very average salary-wise. Good benefits, but the salary is nothing special. Over the years I have begun teaching online courses with three different schools, make royalty income from a home business that releases about one new product a year (all profitable), making great interest thanks to today's interest rates, and just started investing in dividend stocks. After renting my whole life I bought a condo in 2011, paid it off in 2019, and also own my car which was new in 2019 and has just 14k miles on it. Zero debt. Once expenses are covered I can save, save, save.
Sounds you're doing better than you deserve.. ?.. nice
The average millionaire got there from investing for 20+ years
You were misinformed
Thanks so much Jerry! I've been very hard on myself, I'm a late bloomer, however, I'm making good strides. I'm now out of pay check, to paycheck. I've built up, through savings, solid financial security. I have a ways to go and I'm starting my own business.🙏🎉🎉👍🙌
Being retired my income is basically SS, a couple of IRAs, about 5 months emergancy fund, and a stock market account. My saving grace is my house and car is paid for.
Very permanent info great info.thanks
People/ couples sometimes don’t realize that love and happiness jump out the back window when poverty and debt como knocking at the front door.
Thanks man.. subscribed & liked.
Good, positive message. But at 62, I've realized that not only is personal wealth important for retirement, personal HEALTH is even more crucial. Bucking the trend for most, I lost 80 pounds back during COVID. Finally started eating right. Kept working out at gym, doing exercises targeting strength for older age, especially hips, legs, back, shoulders, etc.. Now I can continue to work and earn good money doing a physical job that I enjoy. I'll do it for 4/5 more years before my nurse wife and I retire. Now I see some high school friends of mine, similar age, some of whom are already retired, either by choice or health circumstances. Many are starting to look weak, feeble, frail, hunched over while walking, etc... in their early 60s. A few unfortunately have passed away either from cancer, heart issues, bad choices, whatever -- and many of them were doing well financially in their lives. Now they'll never enjoy their Golden Years. Thus, good physical health for you and your loved ones (my wife is recovery from breast cancer, doing great in recovery) is probably more important than anything else. If you don't have that, you have nothing, no matter what material things you possess.
Great message.
I will have to agree with this statement. I'm only 38 years old and I'm really focusing on my health for today and the future. Money is a tool and like any tool you just need to know to use it effectively.
Great reminder! People tend not to realize the cost of health care post retirement. Your employer funded insurance goes away and if you don’t take time and initiative to care for yourself earlier than retirement, you may not have enough. Obviously bad things happen as you stated (happy your wife is fighting and winning) but most people can control their health to a larger extent by making wise life choices. One of your retirement assets IS your health and unlike a 401K, you can affect the dividends.
Great message Kenneth, need to keep an eye on health, that is ultimate currency 👍
Switched to high protein, low carb and feeling like 30ish
As a newbie to the world of financial literacy, I found this video VERY insightful. Thank you. 🙏
Retired at 45, not worried about cash because I spent the last 20 years preparing.
I JUST discovered you tonight, and I am so glad I did!! Your info is straight forward, real, " "nuts an bolts" facts we all can benefit from!! Thank you so much!!!
Retired at 53 before COVID with 3 grown kids. Bought a $96k house in Queens NY and our rental income pays the mortgage. No other debts, never had a new car. Drives a ‘12 Prius & Seinna now (did had my fling with 3 German cars in succession once). Sitting on a $3.5M portfolio & slowly withdrawing for normal expenses . Been living below my means & happy. Yet deeeep down, I wanted a Miata😁
People have no idea of how much peace of mind one has when you have NO DEBT!!!!!
Comment of the year 👆🏻🫶🏻👍🏻👍🏻🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻💯💯💯💯💯💯💯
Yes I do!
Yea until you get a $25,000 tax bill because you have no tax write offs. I keep a low mortgage to keep my write offs and to keep my equity up
True to that!
BINGO!
Nice video. I even enjoyed the comments below. Some were snarky but still fun. Others talked about how well they are doing. The bottom line is that most people who watch videos like this are doing pretty well. It makes you feel good to see that we are doing better than our peers... human nature.... People who are in the "financial hurt locker" don't watch videos like this because it makes them feel worse. Yep! I'm doing well and videos like this just validate it even though it really isn't necessary
Coming out of a divorce 23 years ago I had no home and about $750k in financial assets, but zero debt. Then a year later I lost my $200k/year a year job to a downsizing, but received a $250k payout and a pension. So, I went into business for myself, remarried, bought a house with the payout, and put every penny I could into a self-employed 401k. Paid cash for every purchase for 23 years. No cash, no purchase. Now approaching 80 and fully retired for 3 years net worth is north of $3 million. It's NEVER too late to start over!
Dad? Lol
Thank you for sharing this information
🙏 thank you for taking time out of your day, to make this video!
Thanks. It's refreshing to hear good news for a change and to have some validation that all the hard work really IS paying off. Much appreciated.
Income "average". No mortgage. No car payment. No credit card debt. I have savings. I have investments. I have apartment also.
How well is that..
Save up, buy a house, and you will be light years ahead. :D
Thank you for this excellent and informative video.
Never made more than $50K/yr. Retired with 1 mil cash. I was VERY conservative in my investments in the '90's, primarily annuities. Retired 13 yrs ago and have more now than when I retired because of continuing to live a frugal life style. Less is more. If I was able to do this anyone can do it. But I worked since I was 14 and always had a noticable work ethic so never had employment problems. Oh ya. I gave and continue to give not only to my church but to others who I see in need. (NEVER to anyone with an 'entitlement' mentality). I worked hard to have enough to help those who were less fortunate than myself. "God loves a cheerful giver."
…and god loves Tom Brady
@@ryanritchie7921i am not sure about rhat.. but i hope he does
You just described my life also! God is good!
@leefury7 did you give 10%+? Just curious on what others give!
@@zachhecksel2920 No. I got my degree in biblical theology which means I learned biblical principles in giving. 2 Cor 9. God loves a cheerful giver. In the OT, the temple tax and government tax combined to be a little less than 30%. True giving was whatever you could freely give beyond that.
If you're a Dave Ramsey fan you've heard some of this already but Jerry your demeanor and delivery are much less confrontational and hard nosed and therefore I think more people will listen. Even though I agree with Dave on most things and his solutions many people are turned off by zealots. Summary- great job / video!
the bank of dave?
Thanks for this Jerry!
Thank you for this video. I needed it.
I’m a retired respiratory therapist, and I’ve known a LOT of doctors who, while they make big money, also spend it all on cars, houses, and vacations. Many times they end up going bankrupt, because they have more bills than their income! There’s an old saying, “The more you earn, the more you spend.” This is true for many people, even those who make well over $200,000 a year.
The journey isn't an easy one ..but we just need to forge ahead.I didn't become financially independent until my late 40s....after the financial choas caused by covid i was a wreck but Thank God for making me see through with my financial investment plans that helped me in acquiring my 2nd house now and aside from that i still see monthly income ...truly investments are key to financial freedom, no matter your age you just need to take that important step.
Wow, interesting indeed! Currently I'm in need of investment ideas or tips. Earlier this year I hesitated and failed to take any action until now. However, I'm determined to try something new as I am very open to various investment ideas . I want to be retired in my forties or fifties. I really wish I can achieve what you have achieved and I believe it will happen
It's essential to comprehend the complexities of investing. Having a trustworthy support system, such as a financial adviser, who can advise you is crucial, especially when choosing assets.
Thanks for the advice but it's hard to get a trustworthy financial professional around here. See what you have accomplished I would like to know your specialist.
I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm.
You can do a search of him on net and reach out directly to him for more info
We own MB rental property for 13 years from 2004 to 2017 (2 BR/2BT @ SeaWatch). We now own ski condo in Snowshoe WV (Allegheny Springs). We will be visiting Myrtle again in about 2 weeks for my wife's birthday. I was stunned by how much more expensive property around there has shot up to the point that I don't see a way to make $s after the POA fees any longer (The POA fees have DOUBLED in the last 6 years on the unit we sold and back then we were only making a couple thousand a year after expenses on a unit with NO MORTGAGE at the time). I will be turning 61 this year. Still working some consulting gigs simply because they pay so well.
Beautifully put. Thanks for sharing
I read a book back in the 1990s called “The Millionaire Next Door”. It was about the same thing. Most flashy people are totally fake. I don’t have an ego or crave attention, and investing my money instead of spending it on myself has put me in a better place.
Yes, I read “the millionaire next door “ years ago. It was very very insightful !
I read that book too, loved it!
I read that book too many years ago. Changed the way I have lived.
I also read that book. Stealth wealth is the way to go.
I remember reading the book. One thing I took away from the book was when I went to a party holding a raffle, I had won a couple of gifts and what I picked was some nice toys for my grandkids.
Strict use of your metrics suggest I'm NOT doing well but I beg to differ. I have a 401K with $500K invested and doing well. I never touch it. Between Social Security and Pension I live on $75K per year. I am completely debt free. I have no dependents to pull me down. No car. Due to disabilities I can't drive. I own my home in a walkable community. Yes, I live in a luxury area in an expensive state. I easily pay all expenses with $2,000 left each month to save and or enjoy. You say invest in real estate. I'm autistic and don't want the hassle of dealing with renters and management companies. I'm retired, housing secure & debt free. I can save regularly and still enjoy care free retired life! I'm above average in my own way bud!
New subscriber. Good info.
OK, I subscribed, You have good videos keep it up.
Good one! I’m the millionaire that pulls up next to you in a 2013 F150! I saved 50% of my income for 10 years.
Yeah, I'm with you! I'm still driving a 2006 Toyota Tundra longbed pickup I bought in 2008 for $14,000 including tax/license. Still running strong with 280 thousand miles on the engine. I'm hoping to have it for several more years!
Wow, impressive.
I drive a 2016 F150. Most people can’t tell what year vehicle you’re driving, and even more don’t care. There’s no need to try to impress the guy next to you at the stoplight.
F 150 the most repo'd vehicle in the USA.
@@miket7184Sweet! my 2015 Honda Crv with 120,000 miles on it still gets me from point A to B, and in between.
You are absolutely right! Success doesn't have to be " rocket science"-- sometimes it just needs some common sense.
Subscribed. 💯 informative
Great video!
Great show . I am in the same pattern . Always trying to look for opportunities before retirement. Plan for the future. You will make it
You got it Jerry. You are showing how folks can build wealth, which is far different than being rich.
Good and informative video!
It's comforting to know there are positive indicators despite feeling uncertain. Thanks for shedding light on this!
About 10 years ago I stopped listening to the lies, the lies others were telling me that I “needed” something, and the the lies that I told myself, that I “deserved” something, I’m 54, debt free and enjoying life!
Congrats you're ahead of the so-called game.
Glad to hear something positive , I'm better off then I thought I was 🎉😊
This is valuable information. You have a new subscriber! Could you leave the charts on screen a little longer?
Another GREAT video, Jerry! Loved your opening with your reaction to the mansion. : )
Lol I’m so glad you enjoyed that! Truly appreciate you and your support
My aunt and uncle did not graduate high school. They both had to drop out to work on family farm 🚜. They were married at 16yrs old( in the 1950s) Had 2 kids by the time they were 18yrs old. They worked odd jobs and lived in a 2nd hand trailer and shared one car . They saved everything they had to buy a small roadside mom and pop hotel . Then bought another one and another one , well 5 hotels later and a restaurant and own farm equipment rental company. They sold all of it and They retired millionaires . And NO college degree or debt . They will always be my heros
Great story. Thnx for posting.
Been working for Goodwill for some 5 years they don't pay enough for the rent and bills feeling more handicapped than independent working for Goodwill
Subscribed, great video interesting topic.
So glad you enjoyed this helpful video. I’ll see you in the next one. Thanks for watching.
This is an excellent vid, love the channel and you have inspired me to start my own channel JT's Retirement Countdown. Keep the vids coming bro!!!!
Thanks for this video. Simple and definitely puts things into perspective… Just what I needed this morning. Thank you!
“ I once had the blues because I had no shoes, until on the street I met a man who had no feet.” Count yr blessings. We are ALL richer than we think, when we don’t measure wealth by money or possessions,
Love it!
Yup spot on. Count our blessings EVERY DAY
My nan would say this too me
Subbed
Wise thoughts Jerry. Thanks
This was great. Thanks!
My entire working life I made coffee at home and packed a lunch; small acts that had a big impact on my finances. People spend too much on frivolous things and being in debt seriously impacts quality of life.
I’m a millionaire, and drive a Toyota. Haha! It’s so true, but will eventually buy an exotic.
I was a Dave Ramsey follower for a while. Graham Stephan is also giving good advice, but my personal experience has been in buying and paying off real estate, which I rent out at a fair amount below market value.
I am earning well into the six figures now, thanks to my rentals.
I was able to retire young, and am excited to have a legacy to leave behind to my two sons.
how much rent will you realistically collect in 36 months? now it's working out because you made the right decisions in the past, but I'm afraid you couldn't fit them into today because the prices are too high and it probably wouldn't be worth it.
@@michalk2497 investment properties are still returning 5-7%. Best thing to do for that first property is to buy a duplex or triplex. Pay it off and move on to number 2, then number 3. By the time you own three free and clear they will fund your lifestyle.
Sounds just like me
I have rentals I rent below market value in my area as well, it helps me retain excellent renters and the cash flow isn't nescessarly from the monthly rent it's the back end savings that helps.@@michalk2497
THIS, is what I want/need to do! Where to start though..............?
Hey Jerry, Scott from the BBB in NC. Love your videos. Great stuff!!!! Lots of info I never knew about. Thanks for keeping us in the loop with whats going on. Hey if your looking for more ways to get more subs. I noticed one guy on youtube does a quick segment called "Subscriber Comments". The guy says ok time for some Subscriber Comments. Scott from NC says yada yada yayda......and you read about 4 or 5 of them that like your tips and techniques then you thank them for taking your advice. I think it could really help you get more subscribers. Let me know and I'll let you know who does it. Keep the videos coming!
Good stuff thank you
That’s why I drive an 11 year old BMW that I purchased second hand.
I never purchase a brand new car.
Thank you for your tips.
I drive a 2021 Toyota Hybrid. Getting 65-72 mpg city, 61 mph highway. Planning to drive it until the wheel fall off. Only paid $20,600 brand new with only 11 miles on it. 0% interest rate.
Buying an 11 year old BMW is never a wise financial decision, they are remarkably unreliable
@@jaekn-My car was only two years old when I purchased it and had less than 10k miles on it. I’ve had it for 9 years now and it is a wonderful car. Of course I have routine maintenance performed on it, but it has been perfectly reliable.
@@jaeknrecent bmw is plenty reliable. BMW being unreliable is old news.
This makes me feel much much better. Although i do feel behind where i want to be, we keep our expenses low and made a deliberate choice to drive paid off toyotas and live in a house thats "small" for our income. Its easy though to look at others making less than you, but somehow driving fancy cars and taking vacations every month. But we have a 6 month emergency fund, max out our roths, get our company matches and pay off our credit cards every month..... now that I'm typing this out - its making me realize how good we are doing. :)
Thanks for that uplifting video. God Bless.
Such solid information.
At 31 I was flat broke with a worthless car, no home and $10,000 credit card debt. Then I got serious. Bought and paid off my house by 49, bought a second property at 50, letting the tenants help me pay that one off. Also started salary sacrificing the maximum I could into Super at that time. Next year, I'm selling the house I live in, to move into the other one I bought, and retiring comfortably at 55. According to my calcs, I reckon I saved about 65% of my income over those 24 years. I'm just a high school educated, unskilled, laboratory technician.
You are more than what you think......................success is between the ears.............
Good for you. You should be very proud of yourself. I know what it’s like to give up things so you can save. The earlier the better. You were fortunate to heed that wake up call and do something about it. Congrats to you. Enjoy your retirement
Do you have kids, a spouse/partner? I found the kid bit took a lot of finances and achieving early retirement.
@@alexispacey2864 No, no partner, no kids. I know what you mean, but I've witnessed that it can still be done. My work colleague has a similar mindset to me. He immigrated to Australia at about 31 (so same age as my scenario) with no assets/money. Works in the same field, non-professional. But he's gone through the whole family thing, wife, 2 kids as well as supporting family back home. He's retiring comfortably at 60. So I guess the family added about 5 years to the equation LOL
Money allows you to look around at things you never had time to look at because you were always running full speed .what you do see is everybody in a panic all the time. You can just kick back and watch and say “I used to be like that”
Money just allows some things to be achieved faster, but it also attracts unwanted attention.
@@Echo30Mike Agreed. Best to stay out of the limelight - don't attract attention to yourself. Keep your head down and enjoy life....
Thanks again, I am way above average, but live like I have to struggle, my wife is right, we planned well, now it’s time to live the plan👍
I want to thank you for this video. I'm not saying ALL of it applied to me, but it got me to look at what I've got going on financially. I'm doing really good. I have you to get me to look. Thanks.
If you love what you have, you have everything you need.
Simple lesson here is to figure out what's really important in life for you. Strive for that, be happy with that and you will feel free! Too many people either try to outdo the neighbors or are just never satisfied with what they have, no matter what they have. That's a very sad place to be.
Husband & I cleared over $325k last year with our sober living homes alone. We’re both felons, recovering addicts, raised in extreme poverty.
We are closing on our first investment property next week- section 8 the upper unit, living in the bottom then buying our second property once our baby comes in June. We are house hacking all of our properties, and having our tenants cover the mortgage while being + after it’s paid. We own of 4 sober living homes, and own a successful peer coaching business.
What I’ve learned is the more diversified your income is, more sacrifices you make, and better/smarter decisions made with money make a difference. Hard work but well worth it.
Nice collation and summation, thank you
Glad you liked it!
Really great philosophical perspective on the magic question of how much is enough. I’m Canadian but the concepts you present resonate with us equally. Thanks for the Saturday morning pep talk!
I retired 21 years ago on a pension to stay home and spend more time with a husband who was suffering from Agent Orange poisoning from his service in Vietnam. He passed in 2020. I live very comfortable. I have no consumer debt except my mortgage. I am looking at paying off the mortgage in about four years. My net worth at the moment is about 400 k. I am almost 75 and fairly healthy.
Hi, saw your note. Sorry about your husband. Mine also has multiple dioxin induced conditions...100% disabled... age 70 and doing OK. He's a Marine. I wish you well. 🎉
Thank you for “your” service as you were on the same team as your husband. Nice to have a roof overhead that you own, so good on you.
I’m already a winner because I don’t compare myself with others!😉
Same here!.😊
👊
You are ahead 👏🏻
That's an oxymoron because you cannot fundamentally win without a competition that includes a comparison.
I compare myself to people in other countries to feel like a winner. It's working quite well 😊
Great knowledge.
Thank you very much.
great video
Sometimes, what we just need is this type of encouragement. Tired of watching most RUclipsrs pushing out negative energy and criticizing people while talking about finances. I’m not doing bad as I owe no debts, I’m even paying for my graduate studies out of pocket. Just that videos like this encourages us and keeps us going with hope. Thanks man, just subscribed
Who are most of these RUclipsrs with financial channels criticizing others?
Jerry, great job on RUclips!!
Your content and consistency have clearly worked, and your videos are resonating with a lot of people.
I am a fellow RUclipsr and Realtor up in Greenville SC.
Keep up the good work.
Great information. Just subscribed. Good message and common-sense thoughts. Myrtle Beach is our favorite vacation destination. I live close to Lake Keowee where many retirees move here from New York City to spend their golden years. They must have taken your advice.
Totally love it! When is enough!