The Shocking Reasons Why People Stay In Debt (Don't Do This)
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- Опубликовано: 11 сен 2024
- The Shocking Reasons Why People Stay In Debt (Don't Do This)
Debt is a huge part of modern life, impacting people from all walks of life, no matter how much money they make, their education level, or their social status. We often think people end up in debt because of unavoidable financial mistakes or tough economic times. However, the reasons people stay stuck in debt are much more complicated and, honestly, pretty surprising. Let’s take a look at the real reasons behind chronic debt-spoiler alert, it’s not good.
Great video, The first $100,000 invested was amazing. But when you hit $300,000 it’s like smashing the glass ceiling! I cried.
I completely agree with you! My first 100k took a long time and wasn't that special to be honest with you. Once I hit 300K that is the game changer in my opinion. At this point my money is basically making me a pretty good yearly salary. When I go to sleep at night I know my money is making decent money with the help of my FA
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
"Nicole Anastasia Plumlee" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Hey, have you guys heard about using financial advisors like Monica Mary Strigle in combination with tax breaks to limit our tax liability and boost our investments in the stock market for 2024?
That sounds interesting. I've been thinking about how to make the most of my investments while being tax-efficient.
It's a smart approach. A good financial advisor can help you navigate the complexities of the stock market and, when combined with strategic tax planning, it can really optimize your overall financial strategy.
I've heard that there are various tax incentives for investing, like tax-advantaged accounts and capital gains strategies. Does Loren Lena Walker specialize in this kind of financial planning?
Absolutely. A skilled financial advisor like Monica Mary Strigle can analyze your financial situation, identify tax-efficient investment strategies, and help you make the most of available tax breaks.
It's not just about reducing tax liability but also ensuring that your investments align with your long-term financial goals. A good advisor can provide a comprehensive strategy.
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Deborah Lynn Dilling is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
It took until my mid thirties to figure this out. Tired of having no money at the end of the month, I started strictly budgeting. No quick fix, 20 years later I’m debt free and have a substantial retirement savings and house is paid for. Wealth is invisible….no one would ever know…quite modest material goods
Congratulations! You're one of the few to figure it out. 👍👍
Wow.. Im 35 now and I thought it is too late to save for retirement. Thanks for this motivation!!
@@ThinkingJames Awesome!...you have plenty of time. Start now, with small wins and enjoy your life along the way. I've become a spreadsheet guru...keeps me grounded and eyes on the prize.
@@ThinkingJamesnever too late. You can't retire until you have the funds anyway
Kudos for changing your mindset. What people don't realize is you can't start your journey to financial freedom unless they're willing to make a sacrifice to change their mindset. It starts there and if they're not willing to make sacrifices they can't even begin that journey. Just like you said begin now before it's too late. I woke up in my mid thirties also and it feels good to have no worries when it comes to having your financials in order.
"Tomorrow isn't guaranteed, enjoy life now".
It may not be guaranteed but it certainly is expensive if you haven't planned for it.
Growing up I remember that my uncle always looked rich… he had a big house, nice cars, all the latest gadgets, a nice in ground pool etc… but we never saw him during holidays with his family since he was always putting in OT at work to pay for all of it…
He died a couple of years ago at 78… he was still working full time.
It's also much more guaranteed than not btw
@@emaldon7 Absolutely
workers are reporting financial stress amid higher prices due to inflation and more expensive debt due to rising rates. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
I believe the average life expectancy in the US is around 77.5 years, but many individuals live into their 80s. Therefore, $1 million needs to cover all those years as well as any unexpected expenses. While $1 million is a solid beginning, I recommend seeking financial advice just to be safe.
I’m quite lucky exposed to personal finance at early age, started job 19, purchased first home 28. Going forward, got laid-off at 36 just after covid-outbreak, and at once hired an advisor with grit to help stay afloat. As of today, my portfolio has yielded over 300%, summing up $836k. Stay motivated friends
@@CurtisM-r4j How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Jennifer Lea Jenson is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Yes you do
Debt can be thought of as a form of slavery, in that someone else has a claim to the fruits of your labor before you do.
I don't really need much advice from these videos anymore but i buckled down 10 years ago and thank God for videos like this! I would be ruined if i didn't change.
38 yrs old btw with a new worth of about half a million. It was one dollar at a time. And up until about 4 years ago the most i made was only about 20$ an hour. And i can tell you without saving and investing I would be in a very bad place now.
You get to a certain point where these videos are repetitive. It keeps me eye on the ball
Like for real, i was betrayed by my father and his new wife with a multimillion dollar family business. He stole my house, renigged on our agreement, and attempted to make homeless and broke when i refused to continue making him money. I had to buy another house and start all over. I'm sooooo thankful people like the producer of this video got me to start saving and investing. It barely created a hiccup in my life losing my home and several million dollars.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Mrs Ann Marie strunk
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Mrs Ann Marie strunk has been an amazing experience
@@DiegoAntonio-cu4oiHello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mrs Ann Marie strunk 😊🎉I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mrs Ann Marie strunk 😊🎉
Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
Neither a borrower, nor a lender be, Do not forget, stay out of debt! Think twice and take this good advice from me. Guard that old solvency! ~ gilligans island
I've always loved that too! William Shakespeare was definitely a wise dude.
Great video and many are not going to want to hear it only to regret later. While it's true there are challenges outside of one's control, more often than not, people will use those external factors as an excuse to avoid working on what they do control.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Veronica Hoy too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
Dope video. Everyone should take heed to this information. 99.9% of people can show you how to spend money but they don't know anything about saving it and investing in themselves for the future.
Zero car payment = zero regrets
Big car payment for a short time, no regrets.
When I got married, I took on more than $70K in student loan debt that my wife had, and I must admit it made me bitter. Before the federal pause in 2020 we were paying the minimum balance and it was barely making a dent in the principal. If we had extra money at the end of the month, I remember thinking “this will go a lot further at the grocery store than it will towards paying off her loans.” And that’s why until I got my head on straight, I didn’t try to get us out of debt.
People get themselves in situations where it looks like the mountain is too steep to climb. It’s not necessarily that they’re choosing to treat themselves, but the perception of what their money can accomplish is skewed because when the debt is that big, it looks like you’re throwing your cash into a bottomless pit.
We’re debt free now, thank God. 🙏🏻
3:09 To be fair to the guy sitting round after a long day at work at least he's still not spending any money besides electricity which allows him to pay off debt quicker.
A great way to look at debt!
Everytime I got a way to make money to pay off my student loans criminals have stolen my business or computer or however they could crash me down. I kept trying they kept thieving my merchandise and intellectual property. I kept working at it.
Dope video
And not only that but they also stole my ID my identity et cetera. They get away with it
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
Sure, the investment-advisor that guides me is..
Mrs Kathy lien
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
Though I started with as low as $5,000 actually because it was my tirst time and it Was successful, She's is a great personality in the state
what a useless blah blah blah