Remember that becoming a millionaire is a marathon, not a sprint. It requires consistency, discipline, and patience over many years. By following these steps and staying committed to your financial goals, you can achieve financial independence and build wealth over time, even on a low salary.
Market fluctuations are inevitable, but avoid making impulsive decisions based on short-term movements. Stick to your investment plan and remain focused on your long-term goals. i saw a recommendation here on about ''Susan Kay Mack'', she is an excellent lead, rookies should be more focused on mentorship and leadership!
Instead of cashing out dividends and capital gains, reinvest them to buy more shares or units of your investments. This accelerates the compounding process and boosts your returns over time.
Consistency is key to building wealth. Set up automatic contributions to your investment accounts, even if it's just a small amount each month. Dollar-cost averaging can help smooth out market fluctuations.
Start Early: The power of compounding works best when you have time on your side. Start investing as early as possible, even if you can only contribute small amounts.
Thanks for sharing this thread, I have learnt a lot, I will definitely look up the expert that you made mention of, I'm looking to work with her thanks!
Consider diversifying across various sectors (like technology, healthcare, finance) and types of stocks (large-cap, mid-cap, small-cap) to spread risk. ETFs/Index Funds can provide broad market exposure and lower risk compared to individual stocks.
Remember that investing always carries some level of risk, and there are no guaranteed returns, you should always seek with a certified professional such as Susan Kay Mack and the likes.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. The time is still right to invest in stocks, precious metals, such as gold and silver, as well as virtual money.
Big moving stochastics are not the secret to high returns. It involves controlling risk in relation to reward. Putting on the proper size and spinning your edge as many times as required to achieve your objective. That is valid for both day trading and long-term investments.
@@georgerobinson2933 Even with the best strategy and resources, some investors would still outperform others. As an investor, you should be aware of this by now. In my case, I had to ask a market analyst for advice in order to grow my account to almost a million dollars, withdraw my profits just before the correction, and start buying again.
@@cliftondippolito The coach I work with, Alice Elaine Hayhurst, is actually rather well-known. She has a significant web presence, so you can just look for her there.
@@HangTagg We are appreciative of this Pointer. Finding your handler was simple; she appears to be knowledgeable and adaptable. I scheduled a call with her.
Almost every youtube post is about how to invest this or how to invest that. Do people actually make real money from this or is this some sort of ponzi scheme?
Yeah, people actually make much from the market, although they usually have more expertise than average, or they use experts i.e hedge funds or fin.advisers. There's a goldmine in the market and that's why almost every rich person buys into it one way or another.
True. I've been using an FA since covid and I'm stunned that most people don't use this but prefer "gambling". I'm not yet netting a million but considering how I started out, I make more than enough
You should start by looking out for those from known firms and good track records. You should also make sure the person is licensed. Personally, I use Kelly Matwick. She's good and you could also look her up.
As a newbie about to invest, you must have these four things in mind 1. Have a long term mindset. 2. Be willing to take risk. 3. Be careful on money usage, if you're not spending to earn back, then stop spending. 4. Never claim to know - Ask questions and it's best you work with a financial advise like Alex Gomez..
How can one start,most times people don't know where to start when it comes to crypto. But it would be great if you can provide proper guidance on steps to follow please
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
retired few years ago at age 55. $1M in the bank. more period spent with my wife. I used to miss 3-5 outings to the gym each week because of work. Much less anxiety. more leisure time. 5,000 miles of cycling in my first year of retirement. I joined my golf team that my work travels used to interrupt. Thanks to having no debt and years of devoted investment with my FA Emily Lois Parker, we have actually seen our net worth INCREASE almost every year in retirement. able to assist my wife more. Much more time spent outside. The wonderful life!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation, how do you go about this are you a pro investor?
The adviser I'm in touch with is ‘Emily Lois Parker’ she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Hi. I’m in the UK and have been investing for years. I have reached a point where my £450k portfolio seems to have been stagnant despite the market gains. I could benefit from financial advice to improve my portfolio and maximize returns.
Everyone needs a Margin of Safety in their portfolios. While I can't offer personalized advice, consulting a fiduciary advisor is crucial for sound portfolio restructuring.
De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I have been investing for 11 years, 5 with a financial advisor, I've achieved a 10x return compared to DIY efforts, totaling nearly $2m ROI. My best yet.
We really need more videos on after retirement investing. This really gives peace of mind because we mostly hear how to invest today but I have always been curious about after retirement. I would suppose this video can apply to anyone with an inheritance, and even lottery winners.
Our government is putting so many families in difficult situations, I pray for our country. low income people are suffering to survive! I appreciate Ms Florence Thomas, Imagine investing $1000 and receiving $5200 in 3 days.
This man was far more interested in saving than investing. He wasn't even interested in saving and investing in parallel. It's simply a perspective that he "gave up" tens of millions. He stated very clearly his deep nervousness at having money at risk in the stock market. If he had pursued investing with his savings mindset and aversion to stock market risk he might not have a single penny today. I don't think that he "made it" either. A million just buys him some more safety, some more status quo. Ramsey should not be encouraging the guy to give any of the money away until this man has set up stable income generation from that million. The caller had to yank Dave back to the really important issue. I knew Dave would be more interested in giving the caller "Atta boys". Smh.
When it comes to the world of investing,most people don't know where to start.fortunately,great investors of the past and present can provide us with guidance
Same here, I made $12,400 profits on investing since I started trading with Mr Kevlin Morrison his trading strategies are too notch am winning consistently trading with Mr Kevlin Morrison. He really the best broker I've made a lot of profit investing with him.
After watching so many RUclips tutorial videos about trading I was still making losses untill Mr Kevlin Morrison started managing my investment now, I make $6,800 weekly. God bless Mr Kevlin Morrison . His been a blessing to my family.
Why erode the principal? Invest in something like VOO that averages about 10% per year. That’s 100k per year for him without even touching the main chunk of money.
If you held on to a s&p500 index fund in Jan. 2008, you would have to wait 5 years just to break even after the market crashed ! How's that for great investment Dave? Who's to say a crash won't happen in 2025? No one can predict the future. I am 51 so I remember the times when the market crashed and bad things happened. It will happen again, just don't know when or the extent or the duration of it, no one does.
A million dollars is a lot, but it can disappear fast if you make the wrong choices. I’d probably start by diversifying-maybe some in stocks, some in real estate, and keep a portion in cash or bonds just to be safe.
I like the idea of diversifying. The stock market can be volatile, and real estate could offer some stability. But with interest rates where they are, bonds don’t seem too appealing right now. Maybe it’s better to focus on dividend-paying stocks for a steady income
That’s smart. I’d also consider putting a chunk into something with growth potential, like tech or clean energy. Those sectors seem to have a lot of room to grow, even if they’re a bit risky.
I’m with you on the growth sectors, Rachel, but I’d want to balance that risk with something safer. Maybe investing in rental properties? Real estate tends to hold its value, and it could provide a steady income stream, especially if the market turns south.
And the fact that he is t worried about leaving his kids who he admits are successful which likely means they’re responsible is downright disgusting. What not help them and his grandkids be able to retire early instead of being a useless cog, in the ZOG system that hates them, and wants them dead even longer?
It’s sad for him to have this mindset especially since he says he’s children are successful which likely means they’re very responsible. He comes off like a real POS in my opinion.
@@SeanBaker yeah, he doesn’t THINK they need it now, but he doesn’t know what the future holds. How can he know the world he is leaving them behind, or how bout his grandchildren, and even great grandchildren who will be his legacy, and carry on the family name. He can’t, none of us can. I can tell you this, it doesn’t look bright.
@@honkhonk1555 It sounds like you are a freeloader. The point was his kids are successful and he is not worried about leaving them money. They don't need it. Why is he a POS? There are a lot of rich people who do not plan to leave their money to their children.
This guy would be a perfect candidate for dividend focused investing. Just take your cash flow and forget about the principal, leave it in a trust when he dies.
spia comes to mind. 20 year certain to pass that on to a beneficiary and guaranteed income. the market has dropped 20 % since this advice. Guy is conservative and wants guaranteed income without risk.
The problem with millionaires its all I I I there is no others in the picture.. what you should do is make good money and share some of it now to others
…the first step to acquire wealth is figuring-out your goals with heIp of a financiaI pIanner, and foIIowing through with lnteIIigent ideas; you will acquire wealth in no time and also enjoy the decision of managing your money.
So, its been a while. Did he go with a local joe, pay loads of commissions, and had his account churned in and out of stocks? Bonds? The latest fad? A suggestion. Why not a simple ballanced 60 % stocks 40 % bonds index no load fund and 30 day cds? Take i million and divide it up 200,000 in cds. I prefer credit unions for the 30 day cds. Currently get 6 % and if i need cash in 30 days its there. 800,000 i would prefer vanguard life strategy no load index funds. You can have automatic monthly withdraws which would be mostly tax free due to being return of principal. The twice a year dividends and capitol gains have it reinvested. This way fund is not depleted. Use 4 % rule. For example , 255,000 × 4% ÷ 12 = 850 a month. 798,000 * 4% ÷ 12 = 2660 a month. Very conservative investment . No commisions, low management fees, mostly tax free withraws, extra income for utilities property taxes or travel fund. Enjoy your retirement.
I agree Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate . thanks to Tomas calez antonio
Same answer for everyone. Dave doesn’t listen. This gentlemen obviously has a low tolerance for risk and would be very unhappy with a 20 or 30% loss in his portfolio. If that happened and he or his spouse (or both) required long term care, his money could get wiped out. At 80 his priority is wealth preservation. 6month to 2 yr treasury bills/ bonds make more sense. It would give him $4500/ month income and no risk. Putting 5 to 10% in gold ETFs would give him additional peace of mind.
Its always better the invest anyway so you can keep the principal as much as possible instead of slowly chipping away at your savings. Yes, theres a very good chance $1,000,000 is enough to spend before he passes away, if he spends $40k/yr thats 25 years putting him at 105 but still better to hold onto to the principal than be chipping away at your retirement savings.
Given the political, international environment presently (as of 8/01/24), I wonder what ramsey’s advice would be NOW. Agreed about being in the market, but at these stratospheric levels, I’m doubtful that advice would be so applicable.
Unfortunately i think this guy has a much bigger problem than where to invest his money. Sounds like he has a hoarding problem. The guy is 80 with a million dollars and he still wants to invest it?! How long does he think hes got left? Also on top of that he still has a side gig to take care of his monthly expenses. How has it nit crossed his mind to fully retire and to invest the million on himself?
I have approximately $100k in my savings account and I think investing it to gain more would be a wise decision. Please can someone share any long term investment idea?
@Harvey Karl Second tip ^ beware of people who recommend you specific advisors, and promise you amazing returns. If it sounds to good to be true, it is.
@@mambofuego5101 if you only care about yourself, then maybe. But if you care about not being a burden to society, leaving a legacy to your family, or helping those around you,…then I’m sure that million will be very useful.
Yeah Dave talks to much. Just answer the question 😂 to be fair though Dave isn’t a financial advisor. Dave is here to help people with beginner basics to build wealth.
He should do nothing. His has 20 years left if he is lucky. That's $50k year for him to live on. He probably has 10 years left. $100k a year for 10 year with no bills. That's a lot of money.
Shame he didnt invest early he probably have easily a few million right now. Time is the most important part about investing...start early and ride the ups and downs...its about the long game.
This is what happens when you take all your money out of the market after experiencing a little volatility. He has a million but he should have quite a bit more after the recent years run up.
@@02DodgeViper No he didn't. He's never invested any money and was asking how to determine how to draw money out of them. Would have been helpful to answer his actual question, especially how it applies to RMDs.
@@todd2456 If he got to a million dollars he should be able to figure out that the stock market generates returns. Dave said he would have 70-80k a year in returns. He can use/spend that money annually as income. That’s the secret.
The market has been shaky these past few months and it's really not advisable to go into investments without a professional FA, understanding the technicalities of the market can be quite difficult, in order to avoid critical loss or mistakes it's better to have a skilled FA, thanks to maryann I worry less about the difficulties and just let her handle it.
We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
With "hard work and good common sense" he was able to save 1 million dollars. Now he has "no idea how to produce income this cash" at age 80 with no real debt but minimal living expenses. Guess "hard work and good common sense" will only take you so far in life.
Why do all these folks think they have or will have 1 million. $. That stats show only a super super small fraction of people will end up with that. Most people who make millions live above their means and they don’t end up with a million at retirement because they are morons. 💯 I hope everyone watching this lands a cool mill. 😂😂😂😂😂
Dave is steering you in the wrong direction ! If we go into a bear market that last more than 2 years, that listener will lose money, not gain and have to patiently wait for a turn around. If you bought the S&P500 Index on January 2008 right before the big crash, you would have to wait until Jan. 2013 ( that's 5 years !!!!! ) for your fund to be back up to that level again. That means no income for 5 years ! That is reality ! Best bet is to put money into long term CD or 1 yr CD paying 4.5% APR now. Next, a good indexed annuity can cut your risk to almost 0 , have no negative years and pay you a yearly income until you die (theres many different types so doing homework is crucial). Next is investing less than 5% in crypto (mostly in Bitcoin ) and gold as an alternative asset. Next is AB stock currently paying a yearly 8% dividend and has been consistent even thru the 2008 stock market crash. Mutual funds don't offer negative downside risk, I don't care what Ramsey says.
Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3kwqrhf
Not trying to be a troll-just letting you know the thumbnail image has a zero missing…it says 1,00,000 instead of 1,000,000.
Nevermind. I guess it already got fixed.
Remember that becoming a millionaire is a marathon, not a sprint. It requires consistency, discipline, and patience over many years. By following these steps and staying committed to your financial goals, you can achieve financial independence and build wealth over time, even on a low salary.
Market fluctuations are inevitable, but avoid making impulsive decisions based on short-term movements. Stick to your investment plan and remain focused on your long-term goals. i saw a recommendation here on about ''Susan Kay Mack'', she is an excellent lead, rookies should be more focused on mentorship and leadership!
Instead of cashing out dividends and capital gains, reinvest them to buy more shares or units of your investments. This accelerates the compounding process and boosts your returns over time.
Consistency is key to building wealth. Set up automatic contributions to your investment accounts, even if it's just a small amount each month. Dollar-cost averaging can help smooth out market fluctuations.
Start Early: The power of compounding works best when you have time on your side. Start investing as early as possible, even if you can only contribute small amounts.
Thanks for sharing this thread, I have learnt a lot, I will definitely look up the expert that you made mention of, I'm looking to work with her thanks!
Consider diversifying across various sectors (like technology, healthcare, finance) and types of stocks (large-cap, mid-cap, small-cap) to spread risk.
ETFs/Index Funds can provide broad market exposure and lower risk compared to individual stocks.
Exactly why i Adjust my portfolio periodically to maintain desired asset allocation.
I am super uncertain about so many decisions right now
Remember that investing always carries some level of risk, and there are no guaranteed returns, you should always seek with a certified professional such as Susan Kay Mack and the likes.
susan kay mack
Interesting i looked up the lady you mentioned, she seems to know her stuff!
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
How can I make good profit as a beginner starting with $60,000 ~it4
As a beginner, it's essential for you to have a guardian to keep you accountable. I'm guided by Amanda Katherine Nakitare
Don't rush in rather seek expertise like Amanda Katherine. Growing a port-folio is complex
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
Melissa Elise Robinson is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. The time is still right to invest in stocks, precious metals, such as gold and silver, as well as virtual money.
Big moving stochastics are not the secret to high returns. It involves controlling risk in relation to reward. Putting on the proper size and spinning your edge as many times as required to achieve your objective. That is valid for both day trading and long-term investments.
@@georgerobinson2933 Even with the best strategy and resources, some investors would still outperform others. As an investor, you should be aware of this by now. In my case, I had to ask a market analyst for advice in order to grow my account to almost a million dollars, withdraw my profits just before the correction, and start buying again.
@@anyadni that's impressive! I could really use the expertise of this advisors, my portfolio has been down bad....who’s the person guiding you
@@cliftondippolito The coach I work with, Alice Elaine Hayhurst, is actually rather well-known. She has a significant web presence, so you can just look for her there.
@@HangTagg We are appreciative of this Pointer. Finding your handler was simple; she appears to be knowledgeable and adaptable. I scheduled a call with her.
Almost every youtube post is about how to invest this or how to invest that. Do people actually make real money from this or is this some sort of ponzi scheme?
Yeah, people actually make much from the market, although they usually have more expertise than average, or they use experts i.e hedge funds or fin.advisers. There's a goldmine in the market and that's why almost every rich person buys into it one way or another.
True. I've been using an FA since covid and I'm stunned that most people don't use this but prefer "gambling". I'm not yet netting a million but considering how I started out, I make more than enough
been considering this for a while … where and how can I get a good one please...
You should start by looking out for those from known firms and good track records. You should also make sure the person is licensed. Personally, I use Kelly Matwick. She's good and you could also look her up.
it's a legal ponzi scheme
As a newbie about to invest, you must have these four things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with a financial advise like Alex Gomez..
How can one start,most times people don't know where to start when it comes to crypto.
But it would be great if you can provide proper guidance on steps to follow please
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
Please how can I get in touch with this Alex Gomez ? I really need to give him a try
This is he’s telegrams user name
@AlexRcoin THAT IS THE USER NAME
THAT IS HIS USER NAME
There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
retired few years ago at age 55. $1M in the bank. more period spent with my wife. I used to miss 3-5 outings to the gym each week because of work. Much less anxiety. more leisure time. 5,000 miles of cycling in my first year of retirement. I joined my golf team that my work travels used to interrupt. Thanks to having no debt and years of devoted investment with my FA Emily Lois Parker, we have actually seen our net worth INCREASE almost every year in retirement. able to assist my wife more. Much more time spent outside. The wonderful life!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation, how do you go about this are you a pro investor?
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversify my portfolio
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
The adviser I'm in touch with is ‘Emily Lois Parker’ she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
Hi. I’m in the UK and have been investing for years. I have reached a point where my £450k portfolio seems to have been stagnant despite the market gains. I could benefit from financial advice to improve my portfolio and maximize returns.
Everyone needs a Margin of Safety in their portfolios. While I can't offer personalized advice, consulting a fiduciary advisor is crucial for sound portfolio restructuring.
De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I have been investing for 11 years, 5 with a financial advisor, I've achieved a 10x return compared to DIY efforts, totaling nearly $2m ROI. My best yet.
Your advisor must be really good. How I can get in touch? I have to start investing preperly again as I feel inflation is eating into my nest egg.
@@Lamarche1959 Dianne Sarah Olson is the licensed advisor i use, do your own research on her to see if she's the right fit for you.
@Lamarche I make use of an advisor 'Dianne Sarah Olson'. Do your due diligence on her to see if she's the right fir for you.
This man could have been incredibly rich if he didn't have so much faith in the Government and the US dollar. But he's definitely a great saver.
We really need more videos on after retirement investing. This really gives peace of mind because we mostly hear how to invest today but I have always been curious about after retirement. I would suppose this video can apply to anyone with an inheritance, and even lottery winners.
Good call for young investors. Numbers up front, what he wants and educated us on past mistakes. More callers need to be like this
Our government is putting so many families in difficult situations, I pray for our country. low income people are suffering to survive! I appreciate Ms Florence Thomas, Imagine investing $1000 and receiving $5200 in 3 days.
I'm surprised you know her. I've been making a lot of profits investing with her for a few months now.
You invest with Mrs Florence Thomas too? Wow that woman has been a blessing to me and my family.
This is not the first time I have heard about Ms. Florence Thomas, and her exploits in the business world, but I have no idea how to contact her.
I'm new at this, please how can I reach her?
she often interacts on TELEGRAM, using the user name below
Man, this guy probably gave up tens of millions of dollars of growth over his lifetime
And still he made it
@@gert-jank8992 Made what? He gave up millions
@@gert-jank8992 at 80? Probably only got a few years to enjoy it
This man was far more interested in saving than investing. He wasn't even interested in saving and investing in parallel. It's simply a perspective that he "gave up" tens of millions. He stated very clearly his deep nervousness at having money at risk in the stock market. If he had pursued investing with his savings mindset and aversion to stock market risk he might not have a single penny today.
I don't think that he "made it" either. A million just buys him some more safety, some more status quo. Ramsey should not be encouraging the guy to give any of the money away until this man has set up stable income generation from that million. The caller had to yank Dave back to the really important issue. I knew Dave would be more interested in giving the caller "Atta boys". Smh.
@@gert-jank8992 not realy lol
When it comes to the world of investing,most people don't know where to start.fortunately,great investors of the past and present can provide us with guidance
I'm so happy 🙂 my life is totally changed. I've been earning $10,250 returns from my $4,000 Investment every 13 days
Same here, I made $12,400 profits on investing since I started trading with Mr Kevlin Morrison his trading strategies are too notch am winning consistently trading with Mr Kevlin Morrison. He really the best broker I've made a lot of profit investing with him.
I heard a lot of investing with Mr Kevlin Morrison and how good he is, please how safe are the profit?
@@marcelosoares6342 I trade with him, The profit are secured and over a 100% return on investment directly sent to your wallet.
After watching so many RUclips tutorial videos about trading I was still making losses untill Mr Kevlin Morrison started managing my investment now, I make $6,800 weekly. God bless Mr Kevlin Morrison . His been a blessing to my family.
Most banks have a team of advisers you can pick from.
Ask your bank manager next time you’re in if you can have the best financial advisor available.
All that to say , put it in the stock market. It’s not perfect but it can work out
4:58 The real sensible answer
Investing is more about not freaking out than anything out
Yep 100%...I use to be bad at that wife is better and I've learned it's about the long game...most look at it short term.
It takes a strong will to stomach the swings in the market.@@markg999
He could spend $75,ooo a year and it would last to he’s 93. Or $50,ooo would last till he’s 100. 🤔 Health problems are around the corner.
Why erode the principal? Invest in something like VOO that averages about 10% per year. That’s 100k per year for him without even touching the main chunk of money.
Big lesson here: dont get scared. Never sell
NEVER
If you held on to a s&p500 index fund in Jan. 2008, you would have to wait 5 years just to break even after the market crashed ! How's that for great investment Dave? Who's to say a crash won't happen in 2025? No one can predict the future. I am 51 so I remember the times when the market crashed and bad things happened. It will happen again, just don't know when or the extent or the duration of it, no one does.
Hey Dave there’s a typo on your thumbnail
A million dollars is a lot, but it can disappear fast if you make the wrong choices. I’d probably start by diversifying-maybe some in stocks, some in real estate, and keep a portion in cash or bonds just to be safe.
I like the idea of diversifying. The stock market can be volatile, and real estate could offer some stability. But with interest rates where they are, bonds don’t seem too appealing right now. Maybe it’s better to focus on dividend-paying stocks for a steady income
That’s smart. I’d also consider putting a chunk into something with growth potential, like tech or clean energy. Those sectors seem to have a lot of room to grow, even if they’re a bit risky.
I’m with you on the growth sectors, Rachel, but I’d want to balance that risk with something safer. Maybe investing in rental properties? Real estate tends to hold its value, and it could provide a steady income stream, especially if the market turns south.
We save all this money then die and give it to charity. Lol! I’m enjoying my money now! Save and invest sure but enjoy it as well.
And the fact that he is t worried about leaving his kids who he admits are successful which likely means they’re responsible is downright disgusting. What not help them and his grandkids be able to retire early instead of being a useless cog, in the ZOG system that hates them, and wants them dead even longer?
Caller said, "I'm not leaving any to the kids." Don't mention it again. 😂
It’s sad for him to have this mindset especially since he says he’s children are successful which likely means they’re very responsible. He comes off like a real POS in my opinion.
@@honkhonk1555 That's a reason why he doesn't want to leave them any money. They don't need it.
@@SeanBaker yeah, he doesn’t THINK they need it now, but he doesn’t know what the future holds. How can he know the world he is leaving them behind, or how bout his grandchildren, and even great grandchildren who will be his legacy, and carry on the family name. He can’t, none of us can. I can tell you this, it doesn’t look bright.
@@honkhonk1555 It sounds like you are a freeloader. The point was his kids are successful and he is not worried about leaving them money. They don't need it. Why is he a POS? There are a lot of rich people who do not plan to leave their money to their children.
Thank you for the insight.
Mutual funds are awful. Do index funds.
This guy would be a perfect candidate for dividend focused investing. Just take your cash flow and forget about the principal, leave it in a trust when he dies.
Dividends are an illusion
@@stefancoban59 irrelevant not a illusion but that's in the wealth building phase not retirement
spia comes to mind. 20 year certain to pass that on to a beneficiary and guaranteed income. the market has dropped 20 % since this advice. Guy is conservative and wants guaranteed income without risk.
If you could make the conversation harder to listen to, that would be great.
At 80, you don't need anything in the market.
Spend it Barry ,you're 80 . Money is for spending.
Great insight’s
The problem with millionaires its all I I I there is no others in the picture.. what you should do is make good money and share some of it now to others
By putting it all on red
Buy rental properties an put under management
“My inheritance is zilch”
Ah that’s my plan also
Is that something you hope to happen or need to discuss with a family member?
He needs to spend it and enjoy.
Nah, he needs more money
Bruh. Diversify across a list of 4-5 dividend paying stocks. OR buy some investment property
He doesn't need the aggravation of investment property at his age
There's a typo in the thumbnail
There is a thumbnail in the typo.
Very impressive savings
Just think how much this man would have saved if he had a good advisor all these years.
“HOW SHE RESTORED MY FINANCES” steps below...
…the first step to acquire wealth is figuring-out your goals with heIp of a financiaI pIanner, and foIIowing through with lnteIIigent ideas; you will acquire wealth in no time and also enjoy the decision of managing your money.
I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI advisor. Living the dream, hoping to retire next year.
KATHRYN DENISE ISERNHAGEN
Get to her with her name..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. Thanks!
Garrick Union
Needs a 40/60 bond equity ratio at his age
So, its been a while. Did he go with a local joe, pay loads of commissions, and had his account churned in and out of stocks? Bonds? The latest fad? A suggestion. Why not a simple ballanced 60 % stocks 40 % bonds index no load fund and 30 day cds? Take i million and divide it up 200,000 in cds. I prefer credit unions for the 30 day cds. Currently get 6 % and if i need cash in 30 days its there. 800,000 i would
prefer vanguard life strategy no load index funds. You can have automatic monthly withdraws which would be mostly tax free due to being return of principal. The twice a year dividends and capitol gains have it reinvested. This way fund is not depleted. Use 4 % rule. For example , 255,000 × 4% ÷ 12 = 850 a month. 798,000 * 4% ÷ 12 = 2660 a month. Very conservative investment . No commisions, low management fees, mostly tax free withraws, extra income for utilities property taxes or travel fund. Enjoy your retirement.
Wow so what do i do with the money? Work with someone in my network so we can get some of that off you lol 😂
Exactly and he has it down in the description. This was a great way to advertise his products.
I agree Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate . thanks to
Tomas calez antonio
Thumbnail missing a 0 there, for anyone that can change that.
Same answer for everyone. Dave doesn’t listen. This gentlemen obviously has a low tolerance for risk and would be very unhappy with a 20 or 30% loss in his portfolio. If that happened and he or his spouse (or both) required long term care, his money could get wiped out. At 80 his priority is wealth preservation. 6month to 2 yr treasury bills/ bonds make more sense. It would give him $4500/ month income and no risk. Putting 5 to 10% in gold ETFs would give him additional peace of mind.
Typo?
Nice
AT 80, I wouldn't worry about investing.
That’s what was thinking…
Its always better the invest anyway so you can keep the principal as much as possible instead of slowly chipping away at your savings. Yes, theres a very good chance $1,000,000 is enough to spend before he passes away, if he spends $40k/yr thats 25 years putting him at 105 but still better to hold onto to the principal than be chipping away at your retirement savings.
@@kelvinpang438 Like I said. He's 80. He can live the rest of his like, not worry about investing. And have plenty of money.
Be a nice funeral....
Why invest it? He has the rest of his life to enjoy it!!!! Let him live and enjoy his life
Hey team, typo in the thumbnail.
Given the political, international environment presently (as of 8/01/24), I wonder what ramsey’s advice would be NOW. Agreed about being in the market, but at these stratospheric levels, I’m doubtful that advice would be so applicable.
Buy vti, voo
@what'sapp👉±❶❽❶❽❾❹❷❼❷❾❷ ok, where do I wire the 1m
May want to check your graphic
Unfortunately i think this guy has a much bigger problem than where to invest his money. Sounds like he has a hoarding problem. The guy is 80 with a million dollars and he still wants to invest it?! How long does he think hes got left? Also on top of that he still has a side gig to take care of his monthly expenses. How has it nit crossed his mind to fully retire and to invest the million on himself?
I have approximately $100k in my savings account and I think investing it to gain more would be a wise decision. Please can someone share any long term investment idea?
VTSAX and chill
schd
I’m in the same boat.
@Harvey Karl Second tip ^ beware of people who recommend you specific advisors, and promise you amazing returns. If it sounds to good to be true, it is.
@@pneron2032 I don't think anyone is promising me amazing returns, it's just an advise and it's free .
Becoming a “millionaire” at 80 years of age is as useful as an ice bucket in the freezing tundra.
Sounds like life worked out just fine for him. Becoming a millionaire was never his goal, but his choices allowed it to happen anyways. Good on him.
Rich Africa Might as well not become a “millionaire”. It’s just useless at 80.
@@mambofuego5101 if you only care about yourself, then maybe. But if you care about not being a burden to society, leaving a legacy to your family, or helping those around you,…then I’m sure that million will be very useful.
And your net worth is Mambo?
Alina Tamashevich Straw-man. That has nothing to do with it…..Either way, you wouldn’t believe me….but you would be jealous AF.
ramsey is really a blessing
Not during the 2008 financial meltdown which he denied was happening!
And it all came back@@gmv0553
give it to me. I pinky promise to pay you back $500 in interest per month.
Yeah Dave talks to much. Just answer the question 😂 to be fair though Dave isn’t a financial advisor. Dave is here to help people with beginner basics to build wealth.
Why does Dave have his fingernail painted black
I'm not a millionaire
He should do nothing. His has 20 years left if he is lucky. That's $50k year for him to live on. He probably has 10 years left. $100k a year for 10 year with no bills. That's a lot of money.
Anyone notice - the thumbnail says 'How do I invest 1,00,000' lol someone forgot a 0
Shame he didnt invest early he probably have easily a few million right now. Time is the most important part about investing...start early and ride the ups and downs...its about the long game.
He is not hurting
@@alinatamashevich3354 No he isnt...he will be fine.
@@markg999 I concur
This is what happens when you take all your money out of the market after experiencing a little volatility. He has a million but he should have quite a bit more after the recent years run up.
Well, he could have done worse. But he doesn't have the stomach for volatility. Maybe he needs non-equity centred, more stable portfolio.
@@pneron2032 bonds are not equities...but you need some stocks for a little growth
@@rays242 What? I said NON-EQUITY.
80 years old and you have a million dollars you can’t take it with you
Murazik Land
I'm financially advantaged, thank you Jesus, $32,000 weekly profit, no matter how bad the economy is.
Thanks to Mrs.Iyana
She is a licensed broker here in the United States
How ..? I am a beginner in crypto investing, can you guide me on how you made your profits?
YES!!! That's exactly her name (Mrs Iyana), so many people have highly recommended her and I've only just started with her from Belgium
I'm surprised this name is mentioned here, I came across a testimonial from one of his clients on CNBC news last week.
Poor guy never got his answer.
Yeah he did. Mutual funds, just not specific ones.
@@02DodgeViper No he didn't. He's never invested any money and was asking how to determine how to draw money out of them. Would have been helpful to answer his actual question, especially how it applies to RMDs.
@@todd2456 If he got to a million dollars he should be able to figure out that the stock market generates returns. Dave said he would have 70-80k a year in returns. He can use/spend that money annually as income. That’s the secret.
@@Dutch1982 He was asking for specifics. He never got his answer. Watch it again.
The market has been shaky these past few months and it's really not advisable to go into investments without a professional FA, understanding the technicalities of the market can be quite difficult, in order to avoid critical loss or mistakes it's better to have a skilled FA, thanks to maryann I worry less about the difficulties and just let her handle it.
Buy real estate
Lots of work for 80 years old
The first few minutes are wasted - not really relevant to the title of how I’d invest a million dollars. In fact the whole thing was a waste of time.
How much is 1,00,000? Lol jk 😂
We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Smart, If i wanted to do the same with my retirement funds too, how do i get started trading?
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Fellow Greenville man here
$1000000
Throw it all in dodgecoin
They fixed the thumbnail $1,00,000
Looks like Dave recently got his right ring finger smashed. Shows that he's not too well-off to do some work with his hands now and then.
Maybe got his finger caught in the Cadillac door?
@@ponolovefarms3926 He does not understand that Rolls doors have auto close feature.
@@alinatamashevich3354 I just read on Reddit it was a lobster tail cracking accident
@@ponolovefarms3926 That is sad. Poor guy. First world problems.
Put it all into Tesla. Then you’ll have $10M soon
There is absolutely nothing wrong with investing a million dollars, in fact, it is essential to invest when you can.
@@innakimberlyroger5317 The financial market like stocks and crypto has made investing more profitable for so many people
Investing = lnterest
With "hard work and good common sense" he was able to save 1 million dollars.
Now he has "no idea how to produce income this cash" at age 80 with no real debt but minimal living expenses.
Guess "hard work and good common sense" will only take you so far in life.
Average male death age is 76. He's 4 yrs OVER that. NOW he's FINALLY a millionaire and his life is basically over. No thanks
@@FalaqX LOL!
Why do all these folks think they have or will have 1 million. $. That stats show only a super super small fraction of people will end up with that. Most people who make millions live above their means and they don’t end up with a million at retirement because they are morons. 💯
I hope everyone watching this lands a cool mill. 😂😂😂😂😂
Lol financial advisor are leaches
Dave is steering you in the wrong direction ! If we go into a bear market that last more than 2 years, that listener will lose money, not gain and have to patiently wait for a turn around.
If you bought the S&P500 Index on January 2008 right before the big crash, you would have to wait until Jan. 2013 ( that's 5 years !!!!! ) for your fund to be back up to that level again. That means no income for 5 years ! That is reality !
Best bet is to put money into long term CD or 1 yr CD paying 4.5% APR now. Next, a good indexed annuity can cut your risk to almost 0 , have no negative years and pay you a yearly income until you die (theres many different types so doing homework is crucial). Next is investing less than 5% in crypto (mostly in Bitcoin ) and gold as an alternative asset. Next is AB stock currently paying a yearly 8% dividend and has been consistent even thru the 2008 stock market crash.
Mutual funds don't offer negative downside risk, I don't care what Ramsey says.