Sorry if I look a bit shiny in this episode! It's our first time filming from my studio and I haven't quite figured out the lighting and tech setup yet. We will get it looking better. - Damo
Anyone in the comments mentioning the name of a person who helped them with their finances is trying to scam you. Please report their comments since RUclips does nothing about it.
Nah dude, you're wrong! I started investing with Stephen and I've seen 20% monthly returns. I'm increasing my contributions 10x this week. I'll be back next month to let you know how much I'm up!!!
@@mkuc6951 What great a fortune to stumble upon such royalty. This man helped me turn a large fortune into a small fortune! All he needs is your money and identity.
@@mkuc6951 is the real deal. I sent him all of my personal information and a truckload of pre-paid gift cards and he helped me turn a large fortune into a small one.
Keep going mate I started at 41... was in 7K debt and living in my overdraft. I'm now debt free have a 15K emergency fund. 20K saving pot and just surpassed ~£150K. Diversification and a clear understanding of your financial goals are key... I am almost 43 now!
I lost a lot chasing individual stocks and I feel pretty silly for not understanding how investing works. I have a double major in economics but I’ve been trying to make sense of the market. Well done on profits!
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I’m invested in ETFs, equity index funds, and individual stocks and use a CFA. On average, she takes 10% of earnings, but using *Lina Dineikiene's* system makes it much more hands-off. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work :-)
Richard and Ben saved me from the cesspool of junior mining investing towards index fund investing which eventually led me here. Great collaboration guys!
The first stock I ever looked at was a junior gold mining stock 😂 Got it from an article on the Motley Fool saying a possible 1,000% return. Was trading for 0.25 cents a share 3 years ago down to 0.10 cents today. Glad I learned how to invest thereafter.
Educated "finfluencers" will naturally follow an essay structure: Introduction, opening of main topic often with the main question (So is X good or bad?), development and presenting arguments for both sides, and a conclusion. It is VERY clear. Patrick Boyle, Plain Bagel, Ben Felix, New Money (a bit more pop / trendy but still)... it is an academic / professional presentation structure, and it tells you this person spends a lot of time researching and drafting, then fact checking and formatting to present something well thought-out and not emotional or "just thinking out loud". Run away from anyone who talk like he's "teaching" you... e.i "Look, this is how you do things, do this and that, trust me, that's how to do it". Those people would get fired from any respectable organization. Also, ANYONE who says "follow this method and you'll have great success". Anyone who promises results is out to get your money or wanting to be seen as a "leader" to grow their "brand".
I love the plain bagel cause he give great advice expecially for canadians. so much USA focused stuff when our tax/rules are different for some things you need the local rules
In Canada, an investigation by CBC marketplace found most recommendations by the big 5 bank's advisors are bad. I was duped by those advisors to invest in high fee mutual funds and GIC (Canadian version of CD) for my retirement fund as a 22 yo. Thanks to the meme stonks and WSB horror stories getting me interested in investing, I got educated in good practices and now hold majority index ETF. It's great that channels like Plain Bagel has so much high quality educational content.
Excellent episode. Shout out to the team for putting this together because the quality is really, really good, was very easy to listen to. Keep up the good work.
I am 32 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in business school and then invest in rental properties afterwards, or should I go for real estate investing first?
Very sorry for your loss. As she had just said, consult a financial expert (and in the case of rentals would be worth contacting some landlords to get an idea what's involved in running rentals. Many people think of rentals as "passive I come" and underestimate the work involved (even with a management agency), not to mention if a tenant stops paying or major repairs occur. A lot to think about!)
I agree, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I max out my 401k and have few properties. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve early retirement.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Sure you can! Melissa Elise Robinson is the advisor I work with. Just search the name. You’d find necessary details to work with to set up an appointment.
Okay I had to comment this. I really enjoy your videos generally because of how diverse your guests are. I go into each video with an open mind. One thing that stood out to me in this video though is how much better Damien received Richards’s views, compared to Steve’s (previous video). I’ve never heard of Richard or Steve before but their message seemed to me to be quite similar (don’t rely on ETF’s, stock pick if you can do the research). I think it’s important to note that as your channel grows and you get more diverse guests, with views that don’t necessarily align with your own, there should be consistency in how the individuals are treated and received.
HI Anna, honestly thank you so much for this, I think that is really fair feedback Your comment aside I have asked myself questions since the Steve interview as to why I reacted the way i did. I feel like I came across a bit prickly and I think maybe for some reason i was in a bad mood. We film 4 episodes in a day some times and it can be quite a draining process, this is no excuse but i feel it is important context. I also am new to interviewing people and it is definitely a skill I need to develop. Next time I sit down with someone I don't agree with I will think of your feedback Thank you again Damo
Back when the world was new, I read Financial Planning for Dummies, which gave me enough information to make an informed decisions about investing (for me, the simpler, the better)!
only one way to build wealth. spend less than you earn. more to save and longer you save, richer you can get. Invest in S&P 500 ETF through out your life. you will be ahead of 99%
I like his channel, been a follower for a while. Only criticism is that he is too pro US, big regional bias. Like most Canadians and US, “world” is US and stock picking.
I would say in regard to individual stocks vs index funds is definitely money and how much. I invest £500 per month, that is no way enough to be putting it into individual stocks.
Contrary to many comments i dont think this was one of the better ones. The guy maybe big and relevant in Canada or US but his points were not significant for UK and certainly not more relevant to your own points in many of your great contents.
Passive income have 100k in sp500 then that will give you 10k a year to then put that to invest in low and high risk investments win win ? Not hard to understand this concept . Buy tech stocks low risk and still benefit with wherever AI goes as these big companies like Microsoft will be ones in the know and will do well with AI .
Seems completely aligned with the investment principles he is discussing on the show. Reviewing and analyzing the underlying company value to make decisions.
@@marcus.H Clumsy rhetoric, and I'm not even anti-crypto. Him steering individuals away from a highly speculative investment whose true value and use case can't even be accurately gauged is precisely what someone as financially versed as himself should do. Wealth attainment (and most importantly, preservation) comes from taking logical and calculated approaches to risk and 'missing the boat' on a few unpredictable outliers doesn't make your advice bad
@@camzy01 yeah. Ya see, the charts would suggest otherwise Is 3% a lot? Would you lose sleep over 3%? Most people can handle a 3% allocation. How many percent did he suggest allocating? 0 When it tenexed, that 3 became 30%. to have no high return allocation is only fine if you plan on being well off when you're 80
@@marcus.H The charts also show a very volatile journey upwards, one in which there have been numerous substantial (50%+) dips in value, and depending on which point in history somebody would've invested in and their level of exposure, could result in considerable amounts of money lost. Lets not pretend like most people would be able to sit tight through such rough market conditions. This is without considering the literal 'wild west' crypto has been for much of its history, ranging from exchange hacks/collapses, government restrictions/threats of 'banning' (arguably 'ineffective', until somebody wishes to realise their gains in fiat currency that's actually utilisable), and the general nature of self-responsibility for ensuring your crypto is stored safely given the lack of regulation/protection. It's common sense as to why someone like Richard would advise to exercise extreme caution, in the same way how the average person shouldn't be advised to trade options/CFDs. Regulated stocks, commodities etc. whose intrinisic values can actually be assessed still present plenty opportunity to become wealthy well before retirement. Again, advising people against getting caught up into bitcoin's mania is not bad advice
Sorry if I look a bit shiny in this episode! It's our first time filming from my studio and I haven't quite figured out the lighting and tech setup yet. We will get it looking better. - Damo
Was just going to say, Damo's head is shinier than mine, and I'm bald 😅
Amazing content though, as always ❤❤
Actually not shiny enough... Please be more shiny in future
Shine bright like a diamond!
Anyone in the comments mentioning the name of a person who helped them with their finances is trying to scam you. Please report their comments since RUclips does nothing about it.
Sometimes they've only had their account for a few days, and use a selfie from 2002 as their profile picture.
Nah dude, you're wrong! I started investing with Stephen and I've seen 20% monthly returns. I'm increasing my contributions 10x this week. I'll be back next month to let you know how much I'm up!!!
@@Wesley-rn7oc Stephen you say? Well now...
@@Wesley-rn7oconly 20%. I heard it's 200% per day 😂
I currently inherited 200 Billion dollars and am looking to invest it in a scam. Any foreign bots have recommendations?
I am a Nigerian prince and I am in very much need of your help sir. This is not a scam.
@@mkuc6951 What great a fortune to stumble upon such royalty. This man helped me turn a large fortune into a small fortune! All he needs is your money and identity.
@@mkuc6951 is the real deal. I sent him all of my personal information and a truckload of pre-paid gift cards and he helped me turn a large fortune into a small one.
Watching in my 40s... And only just starting I feel so behind!
Gotta start somewhere
Keep going mate I started at 41... was in 7K debt and living in my overdraft. I'm now debt free have a 15K emergency fund. 20K saving pot and just surpassed ~£150K. Diversification and a clear understanding of your financial goals are key... I am almost 43 now!
The only comparison that matters is the one to yesterday's self. Today you're starting which means you're already better than you were yesterday:)
I lost a lot chasing individual stocks and I feel pretty silly for not understanding how investing works. I have a double major in economics but I’ve been trying to make sense of the market. Well done on profits!
Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I’m invested in ETFs, equity index funds, and individual stocks and use a CFA. On average, she takes 10% of earnings, but using *Lina Dineikiene's* system makes it much more hands-off. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work :-)
Richard is the ultimate “ triumph of the nerd “ superstar
These guys together in a Q&A situation is the one thing I unknowingly needed. Excellent viewing as per usual
Richard and Ben saved me from the cesspool of junior mining investing towards index fund investing which eventually led me here.
Great collaboration guys!
The first stock I ever looked at was a junior gold mining stock 😂 Got it from an article on the Motley Fool saying a possible 1,000% return. Was trading for 0.25 cents a share 3 years ago down to 0.10 cents today. Glad I learned how to invest thereafter.
Richard is a legend 👏👏👏
Well done guys , this podcast is gold
PS: for the next one. You need to interview Ben Felix
Educated "finfluencers" will naturally follow an essay structure: Introduction, opening of main topic often with the main question (So is X good or bad?), development and presenting arguments for both sides, and a conclusion. It is VERY clear. Patrick Boyle, Plain Bagel, Ben Felix, New Money (a bit more pop / trendy but still)... it is an academic / professional presentation structure, and it tells you this person spends a lot of time researching and drafting, then fact checking and formatting to present something well thought-out and not emotional or "just thinking out loud". Run away from anyone who talk like he's "teaching" you... e.i "Look, this is how you do things, do this and that, trust me, that's how to do it". Those people would get fired from any respectable organization. Also, ANYONE who says "follow this method and you'll have great success". Anyone who promises results is out to get your money or wanting to be seen as a "leader" to grow their "brand".
The collab I didnt realise I've been hoping for
I love the plain bagel cause he give great advice expecially for canadians. so much USA focused stuff when our tax/rules are different for some things you need the local rules
I second the Ben Felix suggestion.
Nice to see the three of you get together. Haven't watched it yet, but you've already earned a like.
In Canada, an investigation by CBC marketplace found most recommendations by the big 5 bank's advisors are bad. I was duped by those advisors to invest in high fee mutual funds and GIC (Canadian version of CD) for my retirement fund as a 22 yo. Thanks to the meme stonks and WSB horror stories getting me interested in investing, I got educated in good practices and now hold majority index ETF. It's great that channels like Plain Bagel has so much high quality educational content.
Yes!!! The finance crossover I’ve been waiting for!!!
Great first virtual session. Looking forward to the next one!
Thanks, apart from Damo's dodgy wifi giving us issues at one point, our first virtual episode went pretty smoothly!
@@MrDown2AT he chose the plain bagel when selecting his current broadband supplier😂
HUGE COLAB
Excellent episode. Shout out to the team for putting this together because the quality is really, really good, was very easy to listen to. Keep up the good work.
Glad you enjoyed it!
Great show. Many definitions for the word “success”. Financial success is one aspect.
This is a more ambitious colab than the MCU! Well done guys
🤣
Collab? They sat there and talked.
I am 32 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in business school and then invest in rental properties afterwards, or should I go for real estate investing first?
i would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for"
Very sorry for your loss. As she had just said, consult a financial expert (and in the case of rentals would be worth contacting some landlords to get an idea what's involved in running rentals. Many people think of rentals as "passive I come" and underestimate the work involved (even with a management agency), not to mention if a tenant stops paying or major repairs occur. A lot to think about!)
I agree, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I max out my 401k and have few properties. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve early retirement.
I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Sure you can! Melissa Elise Robinson is the advisor I work with. Just search the name. You’d find necessary details to work with to set up an appointment.
What a great podcast and amazing guest!!!!
Great questions and you all had great conversations!!!
What a crossover - you simply love to see it!
A Collab between two of the best voices in finance YT. We’re eating good today!
Great choice of guess, he is knowledgeable and speaks sense 🎉
Excellent podcast. Missed it while on holiday!
Okay I had to comment this. I really enjoy your videos generally because of how diverse your guests are. I go into each video with an open mind.
One thing that stood out to me in this video though is how much better Damien received Richards’s views, compared to Steve’s (previous video). I’ve never heard of Richard or Steve before but their message seemed to me to be quite similar (don’t rely on ETF’s, stock pick if you can do the research).
I think it’s important to note that as your channel grows and you get more diverse guests, with views that don’t necessarily align with your own, there should be consistency in how the individuals are treated and received.
HI Anna, honestly thank you so much for this, I think that is really fair feedback
Your comment aside I have asked myself questions since the Steve interview as to why I reacted the way i did. I feel like I came across a bit prickly and I think maybe for some reason i was in a bad mood. We film 4 episodes in a day some times and it can be quite a draining process, this is no excuse but i feel it is important context. I also am new to interviewing people and it is definitely a skill I need to develop. Next time I sit down with someone I don't agree with I will think of your feedback
Thank you again
Damo
Back when the world was new, I read Financial Planning for Dummies, which gave me enough information to make an informed decisions about investing (for me, the simpler, the better)!
Smashed it guys 👊👍
Finally 😃 been waiting for this one
No way I love this guy
Richard is the 🐐
Better in person interviews, love the content
Great job guys 👌
muchas gracias😃
omg amazing guest!
No way! Big colab 💪
Loving it! ❤❤❤
😃
What a collab! Absolutely love it!
Great podcast. Please consider interviewing Andrew Craig about the reason why the UK is so poor.
I met Damian today in Tesco in Stockport, nice friendly chap.
Hello mate! Lovely meeting you. Damo
only one way to build wealth. spend less than you earn. more to save and longer you save, richer you can get. Invest in S&P 500 ETF through out your life. you will be ahead of 99%
I like his channel, been a follower for a while. Only criticism is that he is too pro US, big regional bias. Like most Canadians and US, “world” is US and stock picking.
Not this Canadian. 😀 Only 30% each Can and US, rest is spread out over international, bonds, other… Cheers
Reality has a USA bias
Damien’s gonna need to drop his skin care routine after this one
😂
Three great dudes
Mega guest
💯
I would say in regard to individual stocks vs index funds is definitely money and how much.
I invest £500 per month, that is no way enough to be putting it into individual stocks.
Please get Andrew Murray on!
As minimum you should link the channel of the person you have as guest to descption of the episode.
Lol today i learned Plain Bagel has the hubris to pick individual stocks. Kid thinks he's the next Warren Buffet
Impressive
2 of my favourite channels 😅
Please please don’t down play bank investing in mutual funds and GICs. My bank stocks need to keep making money and raising their dividends 😊
Aight, get that dividends don't matter guy on here...
But for real Ben Felix when.
Did you know if you invest $100 daily over 60 years consistently in the stock market achieving a 15% CAGR you’d be worth over a billion dollars?
He clearly didn’t teach Trudeau a damn thing.😒😊
Where are the wealth building tips? Or am I just slow 😭?
I seem to be the odd one out here. Ive never heard of this guest before!
Me neither
This guy is also a RUclipsr. Search 'the Plain Bagel'. He's a legend
Welcome to the Bagel Club!
What a cross over! Surely Everything Money is on the cards?
Mates. Doctors are extremely well paid they average 2 days Nhs and 3 days private and prioritise private work over Nhs work .
Consultants you mean!?
@@RobinHood-us7sg no GP’s as well just look at any duty roster in a surgery on their website
This is absolute nonsense. Has someone been reading too much daily mail?
@@__Rum-Ham__ try working at a hospital or surgery and you will see. Why the queues and waits are long .
@@musheopeaus4125 you have no idea what you’re talking about
Most unexpected crossover
Why would i take financial advice from someone who rarely leaves their own house?
TLDR: bet it all on dogecoin
Richard dated my sister
One airpod each? How low has the budget got?
☠️☠️☠️☠️
They are fake AirPods as well
@@MakingMoneyPodcastthis is a true example of frugality. Practicing what you preach and leading by example. Well done gentleman
It is sexy, i get turned on knowing more than 50% of my paycheck goes towards freedom down the line.
Contrary to many comments i dont think this was one of the better ones. The guy maybe big and relevant in Canada or US but his points were not significant for UK and certainly not more relevant to your own points in many of your great contents.
Everyone loves AI? broad stroke you painting there
Passive income have 100k in sp500 then that will give you 10k a year to then put that to invest in low and high risk investments win win ? Not hard to understand this concept . Buy tech stocks low risk and still benefit with wherever AI goes as these big companies like Microsoft will be ones in the know and will do well with AI .
Listening to him cluelessly endorsing stock picking was cringe
Soooo boring
Just for the record - The guest today has been saying for years that people shouldn't buy bitcoin. Talk about missing the boat 🚢⛵
Seems completely aligned with the investment principles he is discussing on the show. Reviewing and analyzing the underlying company value to make decisions.
@@dafruk1 yep. It's been very bad advice
@@marcus.H Clumsy rhetoric, and I'm not even anti-crypto. Him steering individuals away from a highly speculative investment whose true value and use case can't even be accurately gauged is precisely what someone as financially versed as himself should do. Wealth attainment (and most importantly, preservation) comes from taking logical and calculated approaches to risk and 'missing the boat' on a few unpredictable outliers doesn't make your advice bad
@@camzy01 yeah. Ya see, the charts would suggest otherwise
Is 3% a lot? Would you lose sleep over 3%?
Most people can handle a 3% allocation. How many percent did he suggest allocating? 0
When it tenexed, that 3 became 30%. to have no high return allocation is only fine if you plan on being well off when you're 80
@@marcus.H The charts also show a very volatile journey upwards, one in which there have been numerous substantial (50%+) dips in value, and depending on which point in history somebody would've invested in and their level of exposure, could result in considerable amounts of money lost. Lets not pretend like most people would be able to sit tight through such rough market conditions.
This is without considering the literal 'wild west' crypto has been for much of its history, ranging from exchange hacks/collapses, government restrictions/threats of 'banning' (arguably 'ineffective', until somebody wishes to realise their gains in fiat currency that's actually utilisable), and the general nature of self-responsibility for ensuring your crypto is stored safely given the lack of regulation/protection. It's common sense as to why someone like Richard would advise to exercise extreme caution, in the same way how the average person shouldn't be advised to trade options/CFDs.
Regulated stocks, commodities etc. whose intrinisic values can actually be assessed still present plenty opportunity to become wealthy well before retirement. Again, advising people against getting caught up into bitcoin's mania is not bad advice
Well what do we have here? 🥯👑