If you're under 18 you can still invest -- you'll just need to open an account with your parents. Look up what a 'custodial account' is. I believe in you. If you're outside of the US, you should read about the equivalents to index funds, IRAs, brokers, etc your country has.
fast forward 30 years, the richest person alive is asked the story of their success, and they say "well there was this youtuber giving financial advice over some call of duty gameplay..."
I took notes because I'm a Chad (refer to this as u wish): Why should u invest? - just putting money into savings n not investing is bad bc money decreases in value • this is caused by inflation - starting out in investing, good options: 1. *Index fund/ETF* : buys a little bit in a lotta different top companies • Even if one company fails, tons other to prop you up = dependable and won't lose cash • book recommendation: Millionaire Teacher • Good starting places: Voo or VTI (cheaper) 2. *Roth IRA* : retirement/investment acc (thanks for the spelling correction, kind commenter) • When you turn 60, you can take out cash without paying taxes • best to start as early as possible • Can still take out early, you would just need to pay taxes - misc: • as a younger person, it's the best time to start! Allows you to not need to grind for money as much later • don't buy things just to flex - avg millionaire spends less cash on a car than a lotta ppl w average income • *more important to build wealth and have it, than to look wealthy right now* • make little choices to save small amounts of money, put those amounts into market to make more (it snowballs) - E.g: learn to cook instead of buying cash Can money buy happiness? - with financial independence, you don't need to worry about basics (food, rent, etc) • reduces stress, easier to be happy Closing point: - *_s c h l a t t c o i n_* Edit: glad to be of help y'all
“You shouldn’t purchase things just to show them off” schlatt: furiously sweating while sitting next to enough keyboards to fill an entire office building
The funny thing is, debt doesn't mean you are in a deficit of money. You can earn 2 million dollars and still just pay the monthly minimum on your debts. It's weird
Ngl tho. A lot of younger people working part time don't feel like they should invest because it's too little but it's always a good idea to invest even if it is just a 50 cent coin 😂
@@exoticcats6119 just dont understand it and do what the pros say. i started investing only 200 a month (ramped up to 300 + one-off 600) in an etf last november and now im up 160 euros (roughly 7-8% gain in 7 months). granted, i got lucky, i dont expect it to continue going as well as it did so far. im no pro at all, i just asked around for a good etf and went for it. invest monthly and you'll be fine IN THE LONG RUN. short-term, anything can happen. after 5-10 years, you'll very likely be in the +, and after 20 years, you'll have made bank for sure. either that, or the top 500 companies in the world went bankrupt, in which case the world's probably coming to an end
Same here. My school cares way more about testing then making sure the kids can get financial stability, or that they know how to tackle a student loan.
yeah, my school cares about "SPEND MONEY ON TEXTBOOKS! WE NEED MONEY FOR A DOOR! GIVE US MONEY YAYAYYA!!! wait you wanna learn stocks and learn how to spend money and do taxes? (laughter) your crazy!"
Hey Schlatt! Some pretty solid advice in this video. I'm in my mid 20s and I wish I made a whole lot of different choices when I was younger, I was always spending the majority of my paychecks on Steam instead of investing it, be it in the market or in myself. Some financial advice from my own experience (not directly related to investing): 1) Keep some money set aside as an emergency fund 2) avoid spending money you don't have it (i.e putting a purchase on a credit card, and then thinking you'll pay it off when you get your next pay) 3) Setup a budget. They really help you keep your spending in check
I can just imagine schlatt doing like Talkshow radio on Sunday mornings talking about the economy and other financial stuff, he totally has the voice for it
As a student trying to save almost every single penny I can and make some cash on the side, this kind of video is so incredibly helpful! It's something I never would have considered or known about if you hadn't introduced the topic through these videos and that stream with Tommy. Super appreciated, keep it up :)
The fact that he is going weekly makes it a relief, the thing about podcasts is that it takes loads of time to make and prepare. Look at lunch club, last one was 2 months ago.
TheSammyShow i personally think that this could turn into a really good podcast, even if the episodes were short, like 10- 20 minutes long. I would love to have a ton of these just on Spotify to listen to.
Last year I finished a class about investing and financing in high school. A couple of months ago I put the money I've made off of my videos into investing, and it so far it keeps rolling. There is no way to get rich quick, but do some research and be patient. It's honestly not that much now, but $10 here and $5 there can go a long way!
Well, I put in about $200 to start, and played around with buying specific stocks. Up about $80 in a year with some setbacks and losses. I just wanted a feel for how things worked before I went all in. But as of recently, I have just putting it into index funds and it's working a lot better return-wise.
@@bloomfilms ight so im in your same boat but, i got butt fuck lucky and put some calls on 5g companies and i got a 127% increase. Some times you just have to be lucky
@@angelderp6689 I didn't wanna risk that much, but that's a solid return (time span?). I just wanted to be ready to lose whatever I put in, so I put in a little bit. But the index funds seem to be a slower, safer bet in the long run.
@@bloomfilms since it seems like both ways are slow, and one of them has the chance of backfiring hard, I guess index funds are the safest and most reliable way to go.
Not to “force” your content or anything, but this would be really cool as an audio only podcast! Or at least have that available as an option. Love your content, dude.
I agree! In this particular video you can hear the COD gameplay so it was a bit distracting to me. This would probably be the only podcast I'd care about listening to.
@@fhsjdjskkshi most of his audience are children and it is good to have some financial literacy growing up. I usually day trade but have some long term investments like TSLA but i also buy index funds and find a ETF that follows the S&P500 and have a roth ira that i put all my job money into. i sometimes trade otc for shits and giggles.
Please, please be cautious about starting custodial accounts. Many colleges will ask that you report the money from the investment, usually asking for all of it and reducing it from either FAFSA money or individual college scholarships, and sometimes even take that to charge you even more. Custodial accounts should mostly be considered by people who do not have to worry to much about scholarships either because of minority and/or low income scholarships not applying to anyone not under that umbrella. If you are in that umbrella, please be careful. I nearly made this same mistake and saw how it bit my friend in the ass, he lost a good chunk of possible money from his scholarship because the college expected the entirety of the money was invested to be used towards paying his tuition fees. This is a really good video, thank you so much schlatt, I really hope more people (especially young ones) get a better grasp of their lives through investments.
@@another_person_on_the_inte8571 you have money and that money you invested makes money, schools look at that and say, " tHaTs a FoRM oF InCOmE, tImE tO RedUcE tHe AmOUnt YoU gET, from fafsa, etc." So they just fuck you over because you spent money wisely instead of buying books that you will most likely never use after the class is done.
another_person_on _the_interweb college will ask you to report the money you get from investments because they see it as a source of income and therefore will take away the (necessary) privileges they give you become they think you have more money than you actually do.
Thank you so much for this Schlatt. I turned 13 about a month ago and I managed to convince my parents to give me a little bit more money if I put all of it into the stock market to save up for college. I was having trouble finding good videos to teach me a good, reliable, low- risk way to invest my money, and you uploaded this at the perfect time. This video taught me the basics of investing and really helped me. Thanks man I really appreciate it. | (• ◡•)|
That analogy of the difference between index funds and buying individual stocks was mindblowing for me. I am extremely grateful that they put the information in such a simple and easy way to understand. Ty.
The Middle-Class Millionaire: The Rise of the New Rich and How They Are Changing America by Lewis Schiff and Russ Alan Prince is a book that i was recommended in a finance class I took in last semester! It is about how through investing, many middle class households actually have over a million dollars net worth!
man. i have been watching your advice videos lately, and u gave me convidence that i can do something about my problems and stuff. i just really wanna thank you for your advices, they helped me out so much
hey schlatt! in the off chance that you'd read this, I have a few questions: are there are any websites you recommend to start off with? I was looking into the VOO and there seems to be an official website for it but I'm not too sure. also, if you had to choose, would you go with an index fund or a roth IRA?
Think of a roth IRA as a basket that holds your index funds or individual stocks (whatever you choose to buy). When you open a roth IRA and then put money into it, you then get to decide where to allocate that money (which funds/stocks to buy). So to answer your second question Schlatt actually recommended both. You can open a roth IRA and then put money into an index fund INSIDE of the roth IRA. And for your first question VOO is just an index fund and wouldn't have it's own website for investing in it. To open retirement accounts you have to go through a broker. Schlatt mentioned 3 in this video: Robinhood, Vanguard, and Fidelity. Robinhood is great for people trading stocks but they don't do retirement accounts. I personally use Vanguard and opened a roth IRA through them but there are other good ones for retirement accounts. From there, you can deposit money into the roth and then if you'd like you can buy shares of VOO. Hope this helped! Let me know if you need any clarification.
Obviously not schlatt but I hopefully can answer your questions. 1. To invest in VOO or any other stock/etf/index fund you need to sign up with a brokerage, such as Robinhood, Webull, etc… As they mentioned in the video this takes like 15 minutes at most assuming you know general information about your income. 2. A Roth IRA is a tax advantaged account, which does not have any impact on what you can invest in (for the most part). Tax advantaged means you get to avoid the extra 10-20% tax when you withdraw funds after the age of 59.5, but if you withdraw early you will pay a penalty tax. This means that you get more money, but cannot access it for a while, whereas a normal account can have money withdrawn at any time, but you will pay either capital gains tax or income tax on it. Hope this helps!
This has really opened my eyes. You've had a really big impact on me and you've turned me on to maturity. I want to thank you for helping my find myself, motivation in the things I love to do, and shaping me into a better person all together. Thank you.
Honestly Schlatt, juwt wanted to say as some 17 y/o schmuck this was actually some pretty eye opening advise. A couple months back before quarantine started I got a job and earned some extra cash that I had no clue what to do with. However, this video was really informative and helped me to understand the true importance of investing. Thanks for the advice!
As a college student wanting to invest in ETF's, I'm a little hesitant in starting right now as it will affect the amount of financial aid I receive. On the FAFSA brokerage accounts are considered student assets so they would need to be reported. Without the amount of financial aid I receive to help pay for school, I would be putting my family under immense financial stress. Are there any ways to jump over these obstacles? Any help or advice would be appreciated :)
It's probably fine for me since I get jack f***ing s*** from my FAFSA anyways... sucks to be a middle-class white male going to college and paying out of pocket the entire way.
I would say get a part-time job and save up for investing. If that income needs to be reported as well, then it's really not worth it to invest right now. There is no specific time frame for you to start investing, so do it when you're comfortable with the stability of your income.
Schlatt I just wanna say man you’re helping so many kids with this kind of advice. It’s one thing to hear this advice from people in their lives they’d expect to get advice from: parents, teachers, etc. But them hearing this advice from you... someone they associate entertainment with and look up too, they really listen. You probably just saved a lot of kids from financial struggles down the road.
Thank you so much for posting something like this, this is something a lot of people wish they knew and it really is a blessing to hear this at a young age myself.
Never thought I'd be learning about stocks and trades from a guy playing mw2 that I only know of because he played a 10 year old children's game and swore a lot but here we are
I’ve been trying to look into this for a couple weeks now after I got my first job and have some money if my own to spare. I’ve had no clue where to start and I honestly appreciate this and it means more than you know, thanks man ❤️
Thank you man for just existing. You have helped me immensely through high school and I’m finally 18 and this is what I’ve started thinking about. Love you Schlatt and keep on giving your wisdom.
its always been so backwards to me when people say "oh, money can't buy happiness". even though that may sound brash, it 100% can. statements like those minimize the struggle of poverty, or working paycheck to paycheck. anywho, great video schlatt. this is the shit that should be taught in our schools and you're really helping a lot of people.
I think that saying is true, but it depends on what you mean. Strictly speaking money can't buy happiness. You can have a lot of money and still be depressed, sad, angry, or otherwise. There's a reason this saying is often said. You don't magically become happy if you become rich or get a good paycheck.
@@user-mo8mg4ks9h this is a really good point. i don't mind to say a flashy lifestyle is healthy and what you should strive to have. you still need to hold onto the important things like family, things your passionate about, etc. but having financial security can improve your life a whole lot.
Finally, somebody put it into layman's terms for me so I can actually understand hehe. Thank you Schlatt and Fit, seriously. I'll be re-playing this video a couple 100 times and take notes hehe.
Hey Schlatt, your last video let me look into investing and I’m starting to learn how everything works with stocks and bonds. I started my first job four weeks ago, and I didn’t think about using the money on anything because I don’t need it right now. Thank you for these videos because they are really helping me out.
Masked Diamond As Schlatt said if you don’t know a lot just invest in the major index funds. VOO is a good one since you’re guaranteed to basically never lose money unless there is another stock market crash and even then you’ll gain it back though over a longer period of time.
This is literally so useful, you both explain this in a way I can fully understand, I feel advantaged as a 16 year old over all of the people around me for knowing this information, thank you.
Hold crap, first video from this channel I’ve watched. Within first 2 mins I’ve liked and subscribed because this content and advice is genuinely so good!
Main Notes I took from this video 1. Investing is not as complicated as it may seem, but must know some basics -money is better put into saving up or investing, money in bank = inflation = worth less -Use robinhood, vanguard, etc to open an account in less than 15 minutes -earlier investing = more experience + money will be worth more than later 2. ETFs/Mutual Funds vs Individual stocks --Mutual Fund = alternative for bank account, almost 10% interest rate, absolute easiest way to invest money, low risk -Individual Stocks = Way more riskier and harder way to invest, but yield greater rewards, needs time and experience to get better at choosing stocks 3.IRAs -Retirement account(s) for when someone recheas 60, invest up to $6,000 a year, when taking out money not only is it multiplied, but also tax free. Only use if you are sure you will not pull money out of it before age of 60 4. How to be rich/save money -Dont buy cloths/accessories/consumer goods to look good/rich, instead live (or try to) a minimalist lifestyle to save up more money to invest in stock market, ex: no supreme/gucci, expensive phones, etc. -Almost only invest money into something that will generate you more money, ex: microphone for a podcast/youtube, computor to learn scripting/programing, a book to learn about the stock market, etc. -Money does relive stress once you get in control, and no stress = happiness 5. MOST IMPORTANTLY -Invest in Schaltt coin BABY YOU KNOW IT WHATS POPPIN
Personal finance could’ve taught me some actual shit like “how to do my taxes? How to invest?”... nope. Just watch video after video of Dave Ramsey screaming at us that credit cards is the doing of the devil.
i just turned 18 and i’m so happy to be hearing this financial advice NOW rather than later and I will start investing, thanks for the heads up schlatt
As someone just exiting high school looking to finally explore what life is, having these small little conversations to listen to are such a nice resources to gain an idea for things that are beneficial
I’m thankful for this video. A lot of kids have part time jobs but waste their money away and I always see it and think they could be doing so much more with it. Investing is pretty cool.
17 and about to open up my first real bank account. Thank you so much for putting this out - I never would have even looked into investing if not for this.
I’ve been trying to convince my parents to let me invest in something instead of letting my money sit, but they keep saying to worry about it latter and that I’m fine for now. How do I convince them to at least let me put some of my money into the market so I can be better off in the future?
@@jruns9730 Maybe not the video. If I were a parent I wouldn't be inclined to take an investing advice video with CoD gameplay in the background seriously
Игры
"you shouldn't purchase things just to show them off"
the people in channel memberships: *sweats*
Schlatt on rajchelor with 50 happy meals...
Thomas McLenahan and the pope
Schlatt with a gun...
@@thomasmclenahan4536 he did it to get a discount tho
@@valentina1219 He cheated the system
If you're under 18 you can still invest -- you'll just need to open an account with your parents. Look up what a 'custodial account' is. I believe in you.
If you're outside of the US, you should read about the equivalents to index funds, IRAs, brokers, etc your country has.
I love you shlatt
I love you schlatt
I’m not from the US and have honestly never thought about investing but I’m still gonna watch this because I’m just happy to see a new video heh.
Why haven’t you been playing Minecraft. Are you “stalling”?
I love you papa
fast forward 30 years, the richest person alive is asked the story of their success, and they say "well there was this youtuber giving financial advice over some call of duty gameplay..."
That's the plan.
wow, the dude can already understand this stuff at 0 years old. no wonder theyre a millionare
Ayy Lmao that makes no sense...
Ayy Lmao do-do you have to be 30 to be the richest man in the world?
Ayy Lmao what?
I took notes because I'm a Chad (refer to this as u wish):
Why should u invest?
- just putting money into savings n not investing is bad bc money decreases in value
• this is caused by inflation
- starting out in investing, good options:
1. *Index fund/ETF* : buys a little bit in a lotta different top companies
• Even if one company fails, tons other to prop you up = dependable and won't lose cash
• book recommendation: Millionaire Teacher
• Good starting places: Voo or VTI (cheaper)
2. *Roth IRA* : retirement/investment acc (thanks for the spelling correction, kind commenter)
• When you turn 60, you can take out cash without paying taxes
• best to start as early as possible
• Can still take out early, you would just need to pay taxes
- misc:
• as a younger person, it's the best time to start! Allows you to not need to grind for money as much later
• don't buy things just to flex
- avg millionaire spends less cash on a car than a lotta ppl w average income
• *more important to build wealth and have it, than to look wealthy right now*
• make little choices to save small amounts of money, put those amounts into market to make more (it snowballs)
- E.g: learn to cook instead of buying cash
Can money buy happiness?
- with financial independence, you don't need to worry about basics (food, rent, etc)
• reduces stress, easier to be happy
Closing point:
- *_s c h l a t t c o i n_*
Edit: glad to be of help y'all
Thanks
Doing god's work my guy
Took mine on paper 😂
i'm a sucker for well-structured notes, this is just *mwah*
lol its Roth IRA not Wroth
" what's up boys my name is schlatt " gives me so much joy
He says how's it going boys not what's up boys I have been scammed by your comment
@@theofficialyoutubechannel855 what's a cringe????????????????? Is it a kind of bird?????????????????
So true, I love Schlatt’s content personality but this down to earth realism is amazing
@@theofficialyoutubechannel855 so long gay mario
@@miggz7847 nice I live birds they're epic just like my favourite video game fortnight batle royal
I never thought I would see the day where Jschlatt and FitMC talk about finances over Call of Duty gameplay, but yet, here we are.
I didn't now how much I needed it until now lmao
"I am $90,000 in debt."
How did you not see it coming?
We’ve come a long way
They should've done it on the oldest anarchy server in minecraft
“You shouldn’t purchase things just to show them off”
schlatt: furiously sweating while sitting next to enough keyboards to fill an entire office building
Didn’t he get given those keyboards by some company that sponsored him?
@@unaisqureshi5812 His manager Ryan P bought him them for advertising his managers YouTooz
I read this exactly when FitMC said this
i thought he had those as replacements for when he destroyed his current keyboard in a fit of rage
Hey that was an investment for his video so I see why he did it.
My childhood hero said “baggin’ ass”
thats a chad move from a person who plays minecraft
Doesn't matter to me. I just converted all my money to bitcoin and sent it to elon musk. Should be getting it back doubled any day now.
ok
i have the need the need for speed i don’t think you get it lmao
i spent all my money on dogecoin!
Annnnyyyyyy day now
I just converted my money to schlattcoin... Im expecting at least 10x More coming
FitMC: Don't go out to eat, learn how to cook for yourself it saves you so much money.
Schlatt: I bought $50 of McDonald's.
it was a business expense
Hi core hawk. I’m trying to invest some cash too. 😎
He bought $50 worth for the 30% off. It was a calculated purchase imo.
it's free money
It made for good a bit/good content. He was just investing it *wink wink*
Good afternoon Schlatt
hello my friend
i’ve been always wanting to start investing and now i think i will :)
Pixel!!
Good morning
@@theweeklyslap good morning schlatt
See you all in 10 years when we’ll all be millionaires.
DeplioS imma come back to this comment section in 10 years and see how I’ve done 😂
yessir investing is ez
@@chasestevenson5396 make it a promise lol. bury a time capsule reminding you to look for this comment in 10 years.
Deal
ill see how much i make from age 16
Fit: We went this whole time without mentioning SchlattCoin!
Game: D E F E A T
You got likes thought I’d tell you
YEEEAHH MORE FINANCE HELP YEEEAHHHH
YEAAAH COOOOOOORN
YEAAAH FINANCIAL ADVICE (for legal reasons this is not a statement calling this video financial advice)
YEAHHHHHH
FitMC before: Teacher by day, RUclipsr by night
FitMC now: RUclipsr by day, financial advice giver by night
@Alex • I actually think he said he did teach history. I'm not sure if that's the case but I think on his 1mil video he said so.
10:01 I love my Grandma's answer to this question.
"Money cant buy you happiness, but I'd rather be crying in a Ferrari than a Prius."
smart woman
I'd rather be rich and sad than poor and sad
thats good
My Grandma always said misery in comfort
“It’s more important to be wealthy rather than to look wealthy” that’s some solid knowledge and I’m definitely gonna share it with friends
“Build wealth” but same thing really, honestly such a good quote from Fit
Well would you look at that.
He’s actually giving financial advice.
Who knew the shrewd businessman would ever reveal a few of his financial tips
Jackson H He’s a kind entrepreneur
It doesn't suprise me that he knows about it
one of my favorite videos from you two. hands down.
VBR increased 27 % since I got it. Absolutely insane stock
Ooo a commentary RUclipsr
That "you could probably retire in your 30s" has really inspired me to take care of my financial situation in the future.
really love this side of schlatt :)
Me too
Nice Pic
That is quite an E P I C Slipknot pfp
Mr SlippyFist 🤘🤘
Schlatt is truly a different breed of RUclipsr 😂
i never expected a man with $90,000 in debt to teach me about finances
The funny thing is, debt doesn't mean you are in a deficit of money. You can earn 2 million dollars and still just pay the monthly minimum on your debts. It's weird
Is one of them really in debt?
Schlatt’s in a lot of debt, but he still has made more than enough to pay it off in full by now
he probably pays in monthly
Julian Rodriguez he went to college?
Everyone here talking finance, and I’m just standing here not knowing whether my 15 year old piggy bank has a 50p coin stuck at the bottom
Ngl tho. A lot of younger people working part time don't feel like they should invest because it's too little but it's always a good idea to invest even if it is just a 50 cent coin 😂
I feel like a smooth brain trying to understand finances and economics
@@exoticcats6119 same
@@exoticcats6119 just dont understand it and do what the pros say. i started investing only 200 a month (ramped up to 300 + one-off 600) in an etf last november and now im up 160 euros (roughly 7-8% gain in 7 months). granted, i got lucky, i dont expect it to continue going as well as it did so far. im no pro at all, i just asked around for a good etf and went for it. invest monthly and you'll be fine IN THE LONG RUN. short-term, anything can happen. after 5-10 years, you'll very likely be in the +, and after 20 years, you'll have made bank for sure. either that, or the top 500 companies in the world went bankrupt, in which case the world's probably coming to an end
When fit answered the question “does money buy happiness?” I teared up man, it’s really hard to enjoy things when you don’t have anything to enjoy.
I’m learning more from this than actual school
Same here. My school cares way more about testing then making sure the kids can get financial stability, or that they know how to tackle a student loan.
Parker same where I live has high taxes and most of it goes into school but stuff like this I would never learn in school
I’m learning more about personal finance here than my actual economics and personal finance class
Than*
yeah, my school cares about "SPEND MONEY ON TEXTBOOKS! WE NEED MONEY FOR A DOOR! GIVE US MONEY YAYAYYA!!! wait you wanna learn stocks and learn how to spend money and do taxes? (laughter) your crazy!"
I love how schlatt can be big funny man but when he wants to can be serious and you know a normal person.
That shows that he is an actual funny guy
LuigixD yeah that’s true
Schlatt is actually really smart I like seeing this side of him
"its more important to be wealthy than to look wealthy" is the best advice ive ever heard, thank you schlatt
“So, when did you decide to take your finances seriously, and where did you learn this?”
“JSchlatt video...”
someone: *asks anything about money or jobs*
shlatt: d e l i
no soda for schlatt
LMAO
poopy
S h l a t t
can someone tell me what his old job was?
“You shouldn’t purchase things just to show them off..”
Schlatt: so I bought this candle for 100 dollars on eBay...
The ad: E-toro
Investment companies mentioned in the video:
Everything but E-toro
Is E-toro good?
yea how is E-toro?
EliasMsv I have no idea, honestly I dont trust ads that always show up. Could be good but i dont know
@@nathwcx8299 extremely bad. they have overnight fees
@@gv6758 yep that's not good.
I'm convinced schlatt actually did go to Harvard and study business
He has the shirt
He did but he dropped out
No I'm pretty sure that was part of his character for the Rajchelor, since he previously stated he did graduate from there.
Honestly who knows
he studied cyber security I think
Hey Schlatt! Some pretty solid advice in this video. I'm in my mid 20s and I wish I made a whole lot of different choices when I was younger, I was always spending the majority of my paychecks on Steam instead of investing it, be it in the market or in myself.
Some financial advice from my own experience (not directly related to investing):
1) Keep some money set aside as an emergency fund
2) avoid spending money you don't have it (i.e putting a purchase on a credit card, and then thinking you'll pay it off when you get your next pay)
3) Setup a budget. They really help you keep your spending in check
God, I cannot imagine Fit being a teacher... “OK class, today we’re gonna have a little history lesson. On the OLDEST ANARCHY SERVER IN MINECRAFT!”
like it or not, fit was a teacher before being a youtube
probably was the history teacher
Probably shaped the way his videos are today
@@mlgsans6085 without a doubt
@@mlgsans6085 he was
I can just imagine schlatt doing like Talkshow radio on Sunday mornings talking about the economy and other financial stuff, he totally has the voice for it
As a student trying to save almost every single penny I can and make some cash on the side, this kind of video is so incredibly helpful! It's something I never would have considered or known about if you hadn't introduced the topic through these videos and that stream with Tommy. Super appreciated, keep it up :)
“Trying to save every single penny” also has channel member badge. No hate ofc
keyword is "almost". don't get it twisted, our pal here holds my 5$/month against my will
Ever heard of Dave Ramsey? Pretty good financial advisor. He has tons of knowledge to give off for free.
This would work as a good podcast
Bro tbh I don’t wanna see another stupid podcast I like the format he’s using right now
The fact that he is going weekly makes it a relief, the thing about podcasts is that it takes loads of time to make and prepare. Look at lunch club, last one was 2 months ago.
TheSammyShow i personally think that this could turn into a really good podcast, even if the episodes were short, like 10- 20 minutes long. I would love to have a ton of these just on Spotify to listen to.
I prefer the homegrown background gameplay
I learned more in this 11 minutes then I do at 6-7 hours of school
Last year I finished a class about investing and financing in high school. A couple of months ago I put the money I've made off of my videos into investing, and it so far it keeps rolling. There is no way to get rich quick, but do some research and be patient. It's honestly not that much now, but $10 here and $5 there can go a long way!
Well, I put in about $200 to start, and played around with buying specific stocks. Up about $80 in a year with some setbacks and losses. I just wanted a feel for how things worked before I went all in. But as of recently, I have just putting it into index funds and it's working a lot better return-wise.
@Jordy better sooner than later!
@@bloomfilms ight so im in your same boat but, i got butt fuck lucky and put some calls on 5g companies and i got a 127% increase. Some times you just have to be lucky
@@angelderp6689 I didn't wanna risk that much, but that's a solid return (time span?). I just wanted to be ready to lose whatever I put in, so I put in a little bit. But the index funds seem to be a slower, safer bet in the long run.
@@bloomfilms since it seems like both ways are slow, and one of them has the chance of backfiring hard, I guess index funds are the safest and most reliable way to go.
God I love this guy, he’s like that one cool uncle who would slide you some money at family gatherings and just wink at you and walk away
i read that wrong
i would love to have a cool uncle like that🥺
Toxic Stans: cAnCel JsClAtT HeS eViL
Schlatt: Alright boys lets talk about investing and how to be wealthy and earn money simply
B-but he said a no no word :cccc
Extendable Chair what word 😳😳😳
Extendable Chair i wanna know what word here said too genuinely curious but can’t find it anywhere
Extendable Chair if it’s a gamer word then it’s a no no
evan he said the f slur and the n word in a discord message I’m pretty sure
Not to “force” your content or anything, but this would be really cool as an audio only podcast! Or at least have that available as an option. Love your content, dude.
I agree! In this particular video you can hear the COD gameplay so it was a bit distracting to me. This would probably be the only podcast I'd care about listening to.
WRITE THAT DOWN! WRITE THAT DOWN!
Click on one of these videos. Close your eyes. Tidaa.
@@myaltaccountthatiwillbarel2288 damn.
yeah i said something like this a while ago, this would be awesome as a spotify series (mainly so that i don’t waste my phone battery)
All the comments are memes. Jeez. This actually really helped me and gave me some hope for my future really. Thanks Schlatt.
Me too man, I took this to heart
I already knew some of this stuff but its really good information especially considering his audience and yes
@@fhsjdjskkshi most of his audience are children and it is good to have some financial literacy growing up. I usually day trade but have some long term investments like TSLA but i also buy index funds and find a ETF that follows the S&P500 and have a roth ira that i put all my job money into. i sometimes trade otc for shits and giggles.
Its really nice of him to do this. Just passing on things he knows.
Please, please be cautious about starting custodial accounts. Many colleges will ask that you report the money from the investment, usually asking for all of it and reducing it from either FAFSA money or individual college scholarships, and sometimes even take that to charge you even more. Custodial accounts should mostly be considered by people who do not have to worry to much about scholarships either because of minority and/or low income scholarships not applying to anyone not under that umbrella. If you are in that umbrella, please be careful.
I nearly made this same mistake and saw how it bit my friend in the ass, he lost a good chunk of possible money from his scholarship because the college expected the entirety of the money was invested to be used towards paying his tuition fees.
This is a really good video, thank you so much schlatt, I really hope more people (especially young ones) get a better grasp of their lives through investments.
Can you please explain it in another way I kinda got lost, I'm looking to open a custodial acct
Wow that sounds like some bullshit. They can just... do that?
Man colleges really be sucking you dry
@@another_person_on_the_inte8571 you have money and that money you invested makes money, schools look at that and say, " tHaTs a FoRM oF InCOmE, tImE tO RedUcE tHe AmOUnt YoU gET, from fafsa, etc." So they just fuck you over because you spent money wisely instead of buying books that you will most likely never use after the class is done.
another_person_on _the_interweb college will ask you to report the money you get from investments because they see it as a source of income and therefore will take away the (necessary) privileges they give you become they think you have more money than you actually do.
Thank you so much for this Schlatt. I turned 13 about a month ago and I managed to convince my parents to give me a little bit more money if I put all of it into the stock market to save up for college. I was having trouble finding good videos to teach me a good, reliable, low- risk way to invest my money, and you uploaded this at the perfect time. This video taught me the basics of investing and really helped me. Thanks man I really appreciate it. | (• ◡•)|
My parents told me i should probably wait until i turn 18
same boat here!!
remember to keep your stocks for over a year as you qualify for long term capital gains
@@grim688. no dude, start early! the earlier the better!
Economic advice from the King of Capitalism himself. Finally.
Rhine more like stupid
@@Matt_and_stuff no
@@Matt_and_stuff mans is telling us how to get rich, respect
Fan base: Schlatt I’m unhappy in life. Schlatt: I N V E S T
Theweeklyslap is evolving, it is has now evolved into, *TheEveryOtherDaySlap!*
Last one was a week ago ?
He's going to try and do them every Sunday I think
I feel like in 15 years I'm gonna find this video again and comment that it changed my life and made me far less scared.
It’s weird to hear fit when it’s not followed by _“ the oldest anarchy server in history “_
In minecraft
K-V no
Easy, you run an exit scam for a cryptocurrency
That analogy of the difference between index funds and buying individual stocks was mindblowing for me. I am extremely grateful that they put the information in such a simple and easy way to understand. Ty.
“Well you see investing is pretty simple and I uh... have I told you abt how I play on Minecraft’s largest anarchy server?”
"It's more important to build wealth, rather than to look wealthy right now."
Love that
The Middle-Class Millionaire: The Rise of the New Rich and How They Are Changing America
by Lewis Schiff and Russ Alan Prince is a book that i was recommended in a finance class I took in last semester! It is about how through investing, many middle class households actually have over a million dollars net worth!
Maybe
@@ilovefuzzycats Maybe what?
I'm 18, been learning about investing the past few months and you guys definitely gave me the confidence to take it seriously, thanks
man. i have been watching your advice videos lately, and u gave me convidence that i can do something about my problems and stuff. i just really wanna thank you for your advices, they helped me out so much
hey schlatt! in the off chance that you'd read this, I have a few questions:
are there are any websites you recommend to start off with? I was looking into the VOO and there seems to be an official website for it but I'm not too sure.
also, if you had to choose, would you go with an index fund or a roth IRA?
Think of a roth IRA as a basket that holds your index funds or individual stocks (whatever you choose to buy). When you open a roth IRA and then put money into it, you then get to decide where to allocate that money (which funds/stocks to buy). So to answer your second question Schlatt actually recommended both. You can open a roth IRA and then put money into an index fund INSIDE of the roth IRA. And for your first question VOO is just an index fund and wouldn't have it's own website for investing in it. To open retirement accounts you have to go through a broker. Schlatt mentioned 3 in this video: Robinhood, Vanguard, and Fidelity. Robinhood is great for people trading stocks but they don't do retirement accounts. I personally use Vanguard and opened a roth IRA through them but there are other good ones for retirement accounts. From there, you can deposit money into the roth and then if you'd like you can buy shares of VOO. Hope this helped! Let me know if you need any clarification.
Obviously not schlatt but I hopefully can answer your questions. 1. To invest in VOO or any other stock/etf/index fund you need to sign up with a brokerage, such as Robinhood, Webull, etc… As they mentioned in the video this takes like 15 minutes at most assuming you know general information about your income. 2. A Roth IRA is a tax advantaged account, which does not have any impact on what you can invest in (for the most part). Tax advantaged means you get to avoid the extra 10-20% tax when you withdraw funds after the age of 59.5, but if you withdraw early you will pay a penalty tax. This means that you get more money, but cannot access it for a while, whereas a normal account can have money withdrawn at any time, but you will pay either capital gains tax or income tax on it. Hope this helps!
Fancy seeing you here tempest
does this work in canada by any chance or is it exclusively american
Wasn't expecting to see you
Never in my short, pathetic life have I been this early to a video and i'm so glad it's this one
felt
I agree
Your life isn’t pathetic brother
@@CLMarshal57
This has really opened my eyes. You've had a really big impact on me and you've turned me on to maturity. I want to thank you for helping my find myself, motivation in the things I love to do, and shaping me into a better person all together. Thank you.
I’ve actually been interested in this kind of stuff for a long time, it was great hearing yours and Fit’s knowledge on the subject.
This the only video series that I GENUINELY click on as soon as I see the notification
Honestly Schlatt, juwt wanted to say as some 17 y/o schmuck this was actually some pretty eye opening advise. A couple months back before quarantine started I got a job and earned some extra cash that I had no clue what to do with. However, this video was really informative and helped me to understand the true importance of investing. Thanks for the advice!
gl dude
As a college student wanting to invest in ETF's, I'm a little hesitant in starting right now as it will affect the amount of financial aid I receive. On the FAFSA brokerage accounts are considered student assets so they would need to be reported. Without the amount of financial aid I receive to help pay for school, I would be putting my family under immense financial stress. Are there any ways to jump over these obstacles? Any help or advice would be appreciated :)
This is a really good question. Would also be interested in the answer.
Was thinking about this too? Could anyone educate me on this
It's probably fine for me since I get jack f***ing s*** from my FAFSA anyways... sucks to be a middle-class white male going to college and paying out of pocket the entire way.
I would say get a part-time job and save up for investing. If that income needs to be reported as well, then it's really not worth it to invest right now. There is no specific time frame for you to start investing, so do it when you're comfortable with the stability of your income.
@@cjday573 fr
Thank you for doing these every Sunday!!!!!
Never thought FitMC and jschlatt would give me financial advice
Yet here we are
Can’t wait for CallMeCarson to teach me about Socrates and the legends of Philosophy
@@unaisqureshi5812 `Minx teaching us buddhism
Merc_789 hell ya
I’ve been looking forward to this all week :)
Schlatt I just wanna say man you’re helping so many kids with this kind of advice. It’s one thing to hear this advice from people in their lives they’d expect to get advice from: parents, teachers, etc. But them hearing this advice from you... someone they associate entertainment with and look up too, they really listen. You probably just saved a lot of kids from financial struggles down the road.
f a x
Thank you so much for posting something like this, this is something a lot of people wish they knew and it really is a blessing to hear this at a young age myself.
Never thought I'd be learning about stocks and trades from a guy playing mw2 that I only know of because he played a 10 year old children's game and swore a lot but here we are
I’ll come back when I’m thirty, retired and rich.
Maybe then I can afford a membership
I’ve been trying to look into this for a couple weeks now after I got my first job and have some money if my own to spare. I’ve had no clue where to start and I honestly appreciate this and it means more than you know, thanks man ❤️
Thank you man for just existing. You have helped me immensely through high school and I’m finally 18 and this is what I’ve started thinking about. Love you Schlatt and keep on giving your wisdom.
its always been so backwards to me when people say "oh, money can't buy happiness". even though that may sound brash, it 100% can. statements like those minimize the struggle of poverty, or working paycheck to paycheck. anywho, great video schlatt. this is the shit that should be taught in our schools and you're really helping a lot of people.
I'm most likely going to be happier in my own house than living with 17 roommates in a shitty part of Brooklyn.
It depends on the wording, like Schlatt said money reduces stress which can lead to happiness but spending money won't bring constant dopamine.
I think that saying is true, but it depends on what you mean. Strictly speaking money can't buy happiness. You can have a lot of money and still be depressed, sad, angry, or otherwise. There's a reason this saying is often said. You don't magically become happy if you become rich or get a good paycheck.
@@user-mo8mg4ks9h this is a really good point. i don't mind to say a flashy lifestyle is healthy and what you should strive to have. you still need to hold onto the important things like family, things your passionate about, etc. but having financial security can improve your life a whole lot.
money can't BUY happiness. But it certainly makes it easier to be happy
Finally, somebody put it into layman's terms for me so I can actually understand hehe. Thank you Schlatt and Fit, seriously. I'll be re-playing this video a couple 100 times and take notes hehe.
I'm lucky to have a dad who works in the financial sector and he has taught me the value of investing.
this video may have just changed my life for the better, u guys are the best
Title: "How do I invest?"
*Ad: Simon and Joe uses E-toro...*
One donut stand
Five hidden cameras
2 actors
100% happiness
Hey Schlatt, your last video let me look into investing and I’m starting to learn how everything works with stocks and bonds. I started my first job four weeks ago, and I didn’t think about using the money on anything because I don’t need it right now. Thank you for these videos because they are really helping me out.
Hey can you teach me some stuff on stocks and the market I just don’t know a thing
Masked Diamond As Schlatt said if you don’t know a lot just invest in the major index funds. VOO is a good one since you’re guaranteed to basically never lose money unless there is another stock market crash and even then you’ll gain it back though over a longer period of time.
Jerrell oh thank you
Jerrell is that only for the US?
This is literally so useful, you both explain this in a way I can fully understand, I feel advantaged as a 16 year old over all of the people around me for knowing this information, thank you.
People say it all the time, but this is legitimately more helpful than a lot of things they teach in school. So I want to say thank you for that.
Haven't even started watching and I'm already excited and happy for it. :)
I’m rlly surprised Schlatt managed to go the entire video without mentioning how he worked at a deli.
This video is what peeked my interest in investing a year ago, I would want to say thank you for that, both schlatt and Fit.
Hold crap, first video from this channel I’ve watched. Within first 2 mins I’ve liked and subscribed because this content and advice is genuinely so good!
Main Notes I took from this video
1. Investing is not as complicated as it may seem, but must know some basics
-money is better put into saving up or investing, money in bank = inflation = worth less
-Use robinhood, vanguard, etc to open an account in less than 15 minutes
-earlier investing = more experience + money will be worth more than later
2. ETFs/Mutual Funds vs Individual stocks
--Mutual Fund = alternative for bank account, almost 10% interest rate, absolute easiest way to invest money, low risk
-Individual Stocks = Way more riskier and harder way to invest, but yield greater rewards, needs time and experience to get better at choosing stocks
3.IRAs
-Retirement account(s) for when someone recheas 60, invest up to $6,000 a year, when taking out money not only is it multiplied, but also tax free. Only use if you are sure you will not pull money out of it before age of 60
4. How to be rich/save money
-Dont buy cloths/accessories/consumer goods to look good/rich, instead live (or try to) a minimalist lifestyle to save up more money to invest in stock market, ex: no supreme/gucci, expensive phones, etc.
-Almost only invest money into something that will generate you more money, ex: microphone for a podcast/youtube, computor to learn scripting/programing, a book to learn about the stock market, etc.
-Money does relive stress once you get in control, and no stress = happiness
5. MOST IMPORTANTLY
-Invest in Schaltt coin BABY YOU KNOW IT WHATS POPPIN
Personal finance could’ve taught me some actual shit like “how to do my taxes? How to invest?”... nope. Just watch video after video of Dave Ramsey screaming at us that credit cards is the doing of the devil.
I remember this
Credit cards are pretty bad though.
Most "personal finance management " videos are just scams though
@@yanislahtal6253 Definitely
@@Gorim33 honestly if it wasn't Schlatt and Fit talking, I wouldn't have watched this.
i just turned 18 and i’m so happy to be hearing this financial advice NOW rather than later and I will start investing, thanks for the heads up schlatt
As someone just exiting high school looking to finally explore what life is, having these small little conversations to listen to are such a nice resources to gain an idea for things that are beneficial
honestly I love this channel, it’s nice to see you actually be active on it
This caught me at a really good time, I’m just out of high school and starting to look into this sort of stuff. Thanks for doing this.
You just convinced me to get an index fund. This video did more to help than my business class ever did.
I’m thankful for this video. A lot of kids have part time jobs but waste their money away and I always see it and think they could be doing so much more with it. Investing is pretty cool.
This side of schlatt is a lot more personal I think which really makes me appreciate his content more
Cya in 10 years when I come back and blame you for my crippling debt when all of the onlyfans stocks I bought plummet.
🤣
17 and about to open up my first real bank account. Thank you so much for putting this out - I never would have even looked into investing if not for this.
Man I love u both as entertainers and people now, ur videos have probably helped hundreds or even thousands of people. Keep it up :)
I’ve been trying to convince my parents to let me invest in something instead of letting my money sit, but they keep saying to worry about it latter and that I’m fine for now. How do I convince them to at least let me put some of my money into the market so I can be better off in the future?
Convincing two parents to do allow something they don’t want to allow is tough, I guess just try to tell them that you’re losing money as time goes on
Just show them this video
@@jruns9730 Maybe not the video. If I were a parent I wouldn't be inclined to take an investing advice video with CoD gameplay in the background seriously
@@SocietyIsSoFucked Then just download the audio