The only way to stop being broke
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- Опубликовано: 14 май 2024
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For those of you who were here a few hours ago, THANK YOU for pointing out the upload error. If you could hit like, drop a comment and watch the whole thing for the algorithm that would be a HUGE help because this rocky start ain't gonna bode well. Love you all.
Hey there I love your videos and would you ever think about putting them on Spotify as much as I like looking at your bald white head I’d like to listen to your videos without my phone being open
Lol I was right in the middle of watching it!! But great to watch again!
Read Profit First My Mike Micowitz or something
:D ur welcome
also I have an english teacher that has an economic class where we read the richest man in babylon, thanks mr.borgelt!
TLDR;
1. Save minimum 10% of your income
2. Increase your income to save more
3. Invest the saving to have more income
cool cool and u practice it?? or just let's do some comments today?
u investing in what??
10% income from regular person income? which is near 0?
@@user-ob9zo9cr4c two things.
first, if your income is close to zero, this video is useless. For that, you have to go watch a video about how to get a job or set up an income.
Second, what you invest in depends completely on where you live and how much you make. But i'll share my example. I'm a 25 year old living in a developing country. I don't make a lot of money yet. As soon as I started earning, I set up a life insurance policy (provided by our government) and every six months, I pay about a month's salary as premium.
In about 15 years, i'll get all that money back with interest, It'll be almost 75% more than what I spent in total. It means that, even when i'm out of work or making less, my money is *still* growing for me. All I have to do is make sure I pay my premiums.
As middle class people in our specific country, this is what we did. You have to find something that works for your country and social class. Find someone who can advise you. RUclips grifters will never tell all this boring stuff, they'll just trick you into buying courses or crypto.
Thank you, had a feeling it was gonna be something dumb like this. Even seen someone say it’s a reupload. So clearly just click bait for views.
Legend you are! 🎯💫
The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
You are absolutely right ,firstly I believe money in the bank is not money because it is bond to inflation and losses values overtime, You have to be well disciplined to achieve success and save before you spend Lastly success does not happen overnight it takes time, dedication and self discipline
money is a liability, not an asset. You have to exchange it for assets that represent real VALUE. Real estate - properties for rent. Stocks (dividends). Bonds (interest), funds, REITs (interest), intellectual property, The aid of an institutional or basic financial advisor's cannot be over expressed. I started saving and investing in 1989 at the age of 20... I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
I'm bombarded with the don't sit on it during the inflation, I wanted to jump in 8/22 and did nothing. So far this year I think I need to get my feet wet but I stopped listening and taking financial advise from RUclipsrs, because at the end of the day, I end up with a bunch of confusing stories. Have you always had guidance?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Paying $55 for a delivered pizza was a wake up call to me. A $4 Tony's or Red Baron would've done the trick but I was not sober and able to drive. Next day I stocked up on frozen pizzas and began to evaluate everything I was wasting money on.
Wow. Thanks
😂
My wake up call came when I kept a 1 month count on how much money I was spending on lottery, Red Bull, beer, and snacks at Chevron.
I was embarrassed and then got mad about it.
And add your own toppings 😂
Your comment may be why this video showed up as a YT recommendation. My car broke down during the week we had sub-zero temperatures where I live. I'm allergic to pretty much everything on the planet, so I wound up spending $60 on gluten-free pizza deliveries (and got glutened anyway). Billionaires are building bunkers and stockpiling necessities; the rest of us should prepare for worst-case scenarios, too.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
One of my goals is to employ the service of one this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Linda Aretha Reeves is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
I just checked her out and I have sent her an email. I hope she gets back to me soon
Solid advice.
I grew up in a poor household and was neglected during my childhood. After being kicked out and living on my own, I've quickly learned the importance of a dollar. Landed a full-time job at 17, and invested the remainder of my first paycheque after clearing monthly expenses. I've done that every paycheque since.
Paid my own way through part-time school while working full-time and renting a small apartment.
Lived frugally, never buying anything I didn't need, but instead spent cash on experiences and whatever it took to meet the right people.
25 years later my family and I are financially independent, and travel the world on a whim. My investments pay all my expenses. But I continue to contribute all excess cash to my investments, and otherwise spend little (15 year old car and cracked 5-year old smartphone because it still works!).
Wealth is there for the taking-- it requires direction, discipline and TIME. Of course living in a relatively wealthy country, in terms of both GDP and opportunity, certainly helps!
what innvestments did u make?
everybody got a sad story
@@memos106ersified ETFs, mutual funds and some select stocks in a dividend portfolio. DCA'ing in weekly, pretty much-- regardless of the market conditions.
Fortunate enough to have kept my job through past three recessions, during which I bought more into the market. Biggest regret was not buying real estate to take advantage of the casino it's turned into today, and not buying Apple at >$2
Regardless, key is to be frugal and not keep up with Jones', honestly.
Think about this: When you say "My investments pay all my expenses".. who is really paying your expenses? Your investments don't create any products or offer services that have any value. They are nothing but a virtual variable in a virtual system. They don't do anything good for anyone.
There is a finite amount of currency in circulation. If you gain money without offering a product or service in return, someone has lost that money. It doesn't just appear out of thin air. So if someone loses money without you giving anything in return.. you just stole from someone. And in this financial system that means money was ultimately generated on the backs of disadvantaged nations, crime or environmental damage. We may look at investments as a harmless thing because it looks so clean. But if you look at what it really means then you figure out "investments" are the same as human trafficing, narcotics, deforesting the amazonas or any other dirty business where people get rich by taking/harming others. Playing the financial system for any gains is nothing to be proud of, but to be ashamed.
@@earlgrey2130you are so wrong on this one, however I don’t have time at the moment to explain to you a zero sum game mindset vs a growth mindset. Maybe in the future, good luck
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
Kenna Muriel Hesseling 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.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
The rich Invest in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment...
I thought about investing in the financial market, I heard that people make millions if they know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.
The best course of action if you lack market knowledge is to ask a consultant or invest-ing co-ach for guidance or assistance. Speaking with a con-sultant helped me stay afloat in the market and grow my port-folio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
This is why I've entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
Please will you be kind enough to share the details of the person that helped you?
'Vivian Carol Gioia' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
I started with a $500 investment in some concrete tools and learned how to finish concrete. 10 years later I don’t do concrete anymore but we do about $5m a year. The most important thing I learned is to just start doing something. You figure out what works and what doesn’t along the way.
How did you become successful?
@@jimmyhuynh127 Wealthy people are afraid of leaves also. Start your own business doing things for rich people that they would rather pay people than do it themselves.
@@Veganisbadhunter-wx5ntLike what exactly?
@@amazonjunglez1188 literally anything home renovation or upkeep wise is a great start. I own a house painting company. marketing towards the wealthier in town. build a brand. home owners bat an eye at paying a premium when they know the job will get done the right way
Nice work! It's all about taking action and just start doing. Then you start going through a bunch of ideas. Many fail, but you can hit on one that can change your life financially. It's just about doing!
So broke I had to get this video notification twice
lmao
😅😅😅😅
I pray you become richer then you ever been z
😂😂😂😂😂
@@nursenatalie2.081 I want to hear more about your nurse stories should I subscribed to your channel
“This is why you’re in debt”
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
For more lnfo
Financial -Planner Rebecca Mart-Watson (in fuII)
l’m amazed to partake on this, lt has rekindled the fire to my goals.
deserve aII attention, good to be here
@@yung1448”you will gain financial growth over the years”
You? Don’t make me laugh.
Your *financial advisor* will financially grow over the years, because he will pocket all the gains made with your money.
_you_ on the other hand will die broke.
"perfect is the enemy of good"
this shit hit.
Not spending $250k on a soda can steered by a madkatz controller to see the Titanic is also a good way to save money
A mistake most only make once.
"soda can steered by a madkatz controller" LOL you just made my day, this some moistcritikal poetry right here
Too soon. 😂
Too soon 🤣
Hahaha😂
4:20 pay yourself first! 6:30 increase your ability to earn through education. 7:20 video editing. 8:15 monitor what you’re consuming - is it distracting me or helping me help others? 9:00 copywriting. 9:28 what’s occupying your mind. 10:20 audible sub. 12:05 save your money. 12:50 inflation 14:33 start learning to invest. 14:44 diversify. Land. Gold. Index funds. 16:00 solve a problem
Hero of the comment section 👏
I learned to save and invest first then live on the rest, save more if possible. Did that for 30+ years and now wealthy, not poor and old.
Appreciate you!
Thanks for taking the time fam ✊️
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too, 🙏🙏🙏
You're right, you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment
That's why I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
Just what I needed after a long day! This video is a reminder that setbacks are just setups for comebacks. We're stronger than we think. Keep pushing forward, everyone!
"Perfection is the enemy of progress." Just get out there and start guys, take action. You don't need to, and never will, know everything before you start doing something.
“Don’t let perfect be the enemy of good”.*
That’s so often what happens to me. Client’s repeatedly hire me because of my excellent work, but striving for perfection limits my progress. I suffer from the “paralysis of analysis”. I micro manage so much in my mind, that I’m exhausted before I start the project. It’s near impossible for me to expand because of my quest for perfection.
I agree with your statement, friend 👍
"Better" is the enemy of good. I learned that from an anesthesiologist. Think about it. If your patient is doing good, don't risk a complication by trying to make them "better".
i don't even know what to start with
Another thing to consider is to know the difference between desires and needs.
Buy as least desires as possible.
Thanks for the video!
I believe you should still buy your desires, but just be smart about it and think long-term about that purchase. How does it affect you after the honeymoon stage?
I think we all here needed this talking to. Thank you brother.
I'm not in any financial issue situation, yet i'm getting so much value from you that it's nuts. Thank you so much for sharing your better ideas with us!!
Isn't it crazy that people like you are providing such critical information for free? We are so fortunate
It's not free. You are paying with your time, which is worth more than money.
Like above, there's probably good books out there that you could read about this topic too, but it's definitely not free. You are the product.
He receives money from our views.
@@Alphastorm7not arguing ur comment other than letting u know Richest man in babylon is on yt
Nah it’s free
Oversimplifying? Simplicity is the mother of mastery.
Sometimes we need to learn things that we already know, but in the simple and direct way. Great video.
Indeed and not over simplify it in a condescending way.
Sometimes, obvious things need pointing out
Man this cure a little bit of my depression. I needed this.
My wife and I came across your videos few months back and it changed our lives for good. We resolved a bad debt of $156k in just 5 months. Our emergency funds is currently being built by savings. We have also started saving for retirement. Please we'll appreciate a video on the best retirement investment with let's say over a 1million bucks. THANK YOU!
You guys should consider financial planning, cos' whether you work to earn income or invest to earn, it still boils down to income vs expenses. So yeah, you should look into licensed investment brokers for a strategy that suits your timing in this time of wealth transfer.
This is why having the right plan is invaluable, my $710k portfolio is well-matched for every season of the market and recently hit 100% rise fromm early last year. I and my CFP are working on a more figures ballpark goal this 2024
@josephbush Could you be kind enough with details of your advsor please?
She's known as 'Heather Lee Larioni'. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Just reached out to her since I need all the assistance I can get. I just scheduled a caII. Thanks a lot
This video hit hard. I work my butt off literally helping save lives in an ER as my main job. And look at my checking account with negative balance. Management has made it harder to pick up extra hours... I have so many bills at the end of the month that I'm essentially saving for each month. Those small little endeavors for new clothes or a night out with my girlfriend are all I have to look forward too. But... I do have a lot of free time. Enough time to start a small business or pressure wash around my neighborhood. Maybe hedge trimming. I love outdoor physical work.
go for it! you are enough!
Nurse then? Pays pretty well
@@scottbarnett3566 depends on where you are my dear. My sister does billing for a law firm and makes more per hr than a full time RN in many southern states. No wiping ass, no getting assaulted lol.
@@kiaharper7172 well it does pay pretty well - southern states or not. Bare in mind the cost of living is often lower too. Anything ADN or above with 2+ years experience makes higher than the nat ave. You are absolutely right though - the getting assaulted is not a great deal of fun!
Cut your expenses, sell your car payment, live frugal, don't be flashy and stop going out to eat. Bring your lunch, don't buy. These are only some of the things that helped me.
You have explained it very well. Thank you.
Paying yourself first is actually a simple concept yet only few people grasps it's potential because they get overwhelmed with the distance and uncertainties between the place they wish to go and where they currently are. They refuse to even try.
"if you don't find a way to make money while you sleep you will have to work hard until you old".
When you invest, you're buying a day you don't have to work
@@alicemark5918Assets that can make you rich
Bitcoin
Stocks
Real estate
You're right, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor
I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this
Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late
Having 10% deposit automatically into savings has been a blessing. You forget how much is in there until you really need it.
That is an incredibly privledged, exceedingly rare situation to be in. You are part of the top 10% of society if you can put away 10%. For most that means total financial collapse.
@@domenik8339 I'm poor as dirt and I've been putting away 10 percent.
I having a savings account and checking account under the same bank so I put everything in savings first. Then I can only pull from savings 6 times a month so it keeps me very cautious.
@@domenik8339 Wrong, though many put that 10% into charitable giving if they are Christians/LDS
@@SilverHawk214 Which comes with all support of the church, valued far more than that 10%. So privledged you don't even know.
I like before even watching the video....because this guy is changing my life.....I take a daily dose of your content...because man I don't know who you are or what you do but just know that on the other side of the planet your videos are helping transform lives. I Love You man!!!
I really appreciate your videos and all of the content you made over all these years. Im thankful that i get to watch your content. Keep going. Youre doing amazing.
I needed this message -it encourages me that I can learn an avenue for me BABY STEPS! You are a GREAT communicator - rock on with Instagram and the next and the next. Thankyou 👍
your videos are really helping me think through a tough period im having, thank you man
dont forget how you got kicked of chronic
I'm reading a book on how to manage your money like a Grown-up and realise that I need to be more meticulous about spending money, track my habits and find ways to trick myself into being more financially responsible. It is really about a mindset cycle.
What’s the name of the book?
Probably a Dave Ramsey book
*_"Finding ways to trick myself"?_* 🙄
@@victorgonzalez4791 It's probably "how to manage your money like a fíng grown up" by sam becksinger. Read it a while ago- biggest takeaway was to start investing early (investing not trading) and that you shouldn't use active funds- rather passive funds as you won't make as much due to fees.
Listen man.... you are better off spending your money on sex, drugs, and rock-n-roll.
Thanks for the upload. Always a joy to watch your content, seems to come just at the right time.
Straight forward, valuable information. I appreciate it😊
Ima watch this back twice. I hate upload errors and honestly, it’s one of your best.
Thanks Blake! You're a real G
Dont think you are over simplifying things at all....in fact, this allows alot of us to gain unique perspective to our own situation. Love your content, thank you for the inspiration!
Thank you this was the best advice ever online so far! Bless you
You now have a new subscriber. Thank you for the down to earth, interesting to listen to and very inspirational info.
Really appreciated this video brother. You’re right… all things I’ve heard a million times and am not doing… but I have to start. The timing of this was divine for me. Thank you! All the best 🤙
How did it go? Did you end up getting rich by other peoples labor?
Thank you for the info. You did a really great job breaking these principles down into manageable parts rather than reading these books through. These are timeless. I'd like to invest in REITs and a startup. Thanks again
So much truth, thank you for putting your wisdom out into the world! I really appreciated it!
I have listened to a few of these videos but this one really resonated with me..
I need a simple method to start at the beginning baby steps.
Some of these people on RUclips jump 10 steps forward and then I'm totally lost because you can't run before you can walk ! Thank you
I've heard pay yourself first as financial advice for ages but the way you explained it was the first time it really clicked for me. it seemed like a simple enough concept but for some reason I never really was able to integrate it in a meaningful way. I appreciate your explanation and i think it will improve the way i think about incoming cash. thank you!
I grew up, poor my whole life and understood nothing about accumulating or retaining wealth. It wasn’t until I started saving 10% of everything I made when I realized how powerful that is. After a couple years of doing that at one day, found myself talking to one of my richest clients about business and such. Anyways, when I told him out, save 10% of what I make the only thing he said to me was “ save 30%” that was some of the best advice I had ever gotten in my life and now I’m at the point where I save anywhere from 40 to 60% now if I want to go on a trip and spend $5000 it doesn’t even dent my pocket. When I do spend a piece of it, I pay myself back 10 to 20% the quantity every time I get paid, including my 30%.
Love you Man!!! This is my second vid. New sub. You are speaking realism and truth!!! Keep on, Keeping on!!!!
Fantastic video and information. The entire time I was thinking….. this guy is brilliant and the way in which you share information seems genuine. Thank you my friend!
“Are you excited about the new Bethesda game that will never come out?”
Jeez, you didn’t have to burn me this hard man 😢
haha tes vi or starfield ?
Hey, I've been watching your videos for a while, and they're always inspirational, but this video I definitely needed to hear. I've been on this financial Journey for years, and needed a reminder of ground zero. Your advice is always genuine.
Thank you for providing us with such a wonderful and detailed ideas. This video popped up on my feed at very good time, you helped me to get my mind right. I hope you have a great day.
Awesome Job! Thank you for your CANDOR, and humor! Keep it coming!
Dude I appreciate this one. I had been doing this and it got all screwed up during a custody case for my daughter. Needed this dude
I am still watching your video.
But really thanks so much for your helpful content. You have helped me to shift my mindset. I have lost 4KGs in 3 weeks and starting hitting the Gym.
Thanks so much. Please keep it up.
Thanks thanks thanks 🙏
You’re getting out of the rut.
Very nice, but you don't need the gym, man. Learn about fasting and go for a walk ,do some basic exercises at home, and you're set. But if u really need the gym for your mental health or something, then that's fine.
Yours is the most important channel on RUclips for me at the moment. Incredibly high quality advice.
I just found you today!
I've subscribed and excited by your message.
Sincerely enjoy your YT presentation and your delivery is very understandable--seems other financial based pods have not started out basic enough for me, at least! I have felt like I was sitting in a 6th grade class but I had not yet been to 1st grade. Seems it was assumed I was starting out with more basic info than I actually had.
Your 'step 1' is, for me, an encouraging guide and 'do-able' place to put my foot on a roadmap that seems hopeful to create a plan and a journey that could possibly 'NOT LEAVE ME BEHIND AND I DON'T JUST FEEL OVER-WHELMED, DEFEATED, STUPID, A FAILURE WHO IS LESS THAN THE REST OF THE PACT, UNABLE TO KEEP UP WITH THE CONTENT DELIVERY, DRINKING FROM A FIRE HOSE INSTEAD OF A GLASS!'
I'm ADD (not hyper, rather inattentive). Staying focused finding ways to effectively/efficiently/quickly return to to the big picture, the map, the process, and the destination, visually- keep regularly refreshing my commitment to each step toword a consistent destination is my challenge due to the 'slipped gear' in my brain lending to ease of getting distracted and off focus; all of which is the achilles heel I must control. What helps this snag is a manageble system with simplicity and clarity getting started and regular weekly coaching!
Hoping your podcast can assist😊
The best of success to you as you grow. Your
presentation and transparency is your fertilizer for growing your channel, HEY, YOU ARE A NATURAL! ay
Thank you again this will help me and my parents ❤️ love your videos keep it up
You have no idea how much this has helped me. I’ve heard about paying yourself first and I’ve been making extra money selling vintage stuff on eBay we have lying around and on Etsy I’ve been selling my art. I invested in a cricut machine to make stickers and also a button maker. I felt immense guilt because it hasn’t taken off how I want, I get sales but it’s not consistent, but you’re so right investing doesn’t have to be like the stock market and it’s something I really enjoy doing. It makes me so happy to see the kind messages and reviews people have left me! I’ve also been doing commissions and applying to freelance work too. The earnings I make I’ve been dumping into a high yield savings account and not touching it either, but it takes time as you said and I guess this is how I diversify because it’s not enough to have a regular job anymore and I see the greater potential to work for myself at this point.
It also made me feel better too what you said about what you consume, I play video games to unwind, but when I’m at work or drawing I’m consuming content like this or podcasts to better myself and skills. Thank you so much for this video man 🙏
You've really got a lot of hustle! I'd recommend a diversified index fund from a company like Vanguard or Fidelity to put your money in so that the money you have at the bank isn't losing money to inflation. If that makes you uncomfortable then at the very least I would move the money to a money market account (not a money market fund, that's a different thing). The money market account gets a much much higher interest rate (5% currently) while still be FDIC insured and some of them let you write checks. Don't throw money away to inflation!
Thank you for this. I really needed this!
Commenting to help engagement, this video really helped me out to really look inside and determine what I want out of myself and my financial future.
Thank you Sunny!!
10’percent is 500 dollars I do not have that.
I want a balanced portfolio with growth investments, safe investments, and also focus on dividends to gain up to $20K monthly, my concern is picking the right stocks that can survive a recession. How do i go about this ?
In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. Depending on the worth of your portfolio, you should consider financial advisory.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my advisr are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
massive gains! mind sharing details of your adviser pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help fuel my money goal
She goes by Amber Dawn Brummit I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you for sharing, I must say, Amber appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Great video, good luck with the pod!
Good video. I've always had the opposite problem, I have struggled to find well paying work I like despite a lot of skills and qualifications, but I'm frugal so I'm great at not spending a lot of money whilst still having a decent quality of life ie cooking from scratch, growing my own food, sewing, crochet, charity shopping, bargain hunting, checking receipts and not buying the latest products or many branded products. This year one of my goals is to become better at earning money and becoming more financially literate in general.
Wow such an interesting video! Thank you! I'm broke because I don't work but I'll be starting to work very soon hopefully. I've always been the kind of person that didn't think about financially freedom. Crazy as it may sound, I was raised to not think as a " free" man. At the age of 14 tho I started to save up money and it compounded over the time and I'm happy for that. Lately thanks to you and others youtubers that talk about finance I'm discovering new sides of me and the urge of be independent is high. Another issue of mine is that I consume too much self development content and use my time to learn foreign languages. Languages are a double end sword. They let you open new opportunities but if you don't use them on a daily basis they can be useless as an exchange value you were mentioning in the video.
I was only able to save money because I live at home. And even then it wasn’t very much. Saved up for 4 years and had a nice sum as a result, but, I ended up even more depressed Then I already was. I decided to take a break for a few months and even got to visit some of my friends who lived in another state. Even while dedicating a significant portion of my income to saving, it’s very easy to lose it if a mental or physical crisis happens. Its really disappointing.
Underrated comment. A restrictive life style requires mental stability and health. Hope your doing okay now ❤
Exactly dude money doesn’t buy happiness if you’ve got no one to share that happiness with or a hobby that helps you decompress - unless you’re a narcissist or sociopath and simply don’t care about other people.
Love this! Thank you for this video! ❤
You simplified this for me. Much thanks! 👏 👏 👏
I dont make alot of money, but i still own a house in a pricey area, a decent car and i can go on atleast one vacation and several long trips per year. The key is to always save a little bit of your income, spend less on shit that you dont need, and to bring your leftovers to work the next day 😅
I'm starting simple and this video was encouraging thank you. I'm starting from scratch after leaving an abusive workplace. I didn't get another opportunity until 3 months later and have pennies left until the first check hits. I had savings, etc but now that I'm in a kinder workplace that understands my disabilities I can begin to rebuild and have mental energy to focus on a creative side hustle I wanted to start.
Good luck, I’m happy you got a new job. People with disabilities are treated horribly in the workplace and school. I’m dyslexic.
Thanks for this video brotha🙏🏼🙏🏼🙏🏼
I needed this video thank you 🙏🏽
Realistic , relevant, practical! Thank you
Always solid advice. Gotta get to bed but going to give it a watch in the morning. Got to get my finances in order so my wife and I have been researching methods of budgeting using cash instead of just money in the bank
This a powerful trick to fool yourself. Use only cash to spend. First you pay your mortgage or rent, phone bill etc. and then you have a few envelopes for each month where you put cash for necessities you need to spend on. First envelope should be groceries, second can be gas or hobbies etc. When you have spent your cash, it’s over. You can’t spend more. This was a piece of advice from a financial coach. Wanted to pass it along, wish it serves you well. Cash is way harder to spend than to save.
Genuinely love your content, always informative and entertaining
Absolutely correct! Great video! ❤
I very much relate to the chucky cheese analogy. I am very guilty of acting like a fool for 30 years, buying trinkets and treats, treating my money just like some dumb kid that won big at that spinny lights game at the arcade. Blablabla bad habits from my parents blablabla. Being a fellow Canadian, watching the housing market here in the GTA has given me this hopeless “might as well just order ubereats again since saving for a house is impossible" attitude which I know isn’t helping anything. I really need to find a way to bring in more money.
UberEats has also created a lot of difficulty for a lot of people, I think. Getting takeout is now so incredibly low effort and low resistance.
Seems like there is more temptation to degenerate than ever, fast food, drugs etc... However the choice is always yours. Same goes for so many modern things. Are you gonna use your phone for good or endlessly scroll social media?
That's why I love J Peterson. Gotta aim at something, if you don't know what that is, pick something!
What helped for me is, when tempting to order something, look up the recipe. Calculate the cost of making it yourself + time spent (and cooking skill improved). If you think it's worth it, by all means, do it. But 99% of the time, you're better of making it yourself (duh). Anyways, I don't order in or take away, just because it hurts me spending all that money, just on a bit of food. Guess it's the kind of mindset you'll need in order to save it.
Another thing is, calculate the money you save by making it yourself, compounded over say... 20 years. If you only save 100$ a month by cooking more yourself, that'll be $51041,- compounded by 7% interest over 20 years. That's enough motivation for me :)
I cook in batches and aim to always have meals ready to go in the freezer.
Saving money needs the same mental hygiene as losing weight, you need the same discipline and fortitude to not give in to immediate temptation.
It's not easy, especially if you've got an executive function disorder, but it can be done.
Delete the app and cook for yourself, you'll save so much money and it's better for your body. Also, the book he mentioned is really good, I've read it. The Richest Man in Babylon by George Samuel Clason.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
If you plan on holding for the long-term. Buy now.
Yessss Catherine is awsome! I invested with her and she made me a billionaire and I now have infinite girlfriends
Started learning about investing and trading 3 years ago, I'm already beating the market doing it part time.
@@Ash7thst Hey Ash! I'm interested in learning about trading as well, but don't even know where to start. Any tips on that? Content or people you would recommend learning from? Thank you so much in advance!
Well said video. Thank you so much for posting.
I barely watch videos fully & I watched the whole thing , sir thank you !
Excellent video! Folks who have this issue/think about money this way, consider getting yourself a “treat” drawer! I HAD to do this. Essentially, when I have a little extra money that I can splurge on something with, I will buy myself a couple of treats online. For me, It’s usually clothes. Then, when they come in the mail, I will go stash them somewhere. When weeks go by and I’m feeling that retail therapy urge, I will instead go to my treat drawer and I am instantly satiated and no money from my paycheck was spent. I do this about 4 times a year and usually budget to spend around $200 max on my “treats”.
So simple but priceless ! Thank you
THIS WAS SOO GOOD! Thank you for this!
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom.
Based on personal experience working with an investment advisor, I currently have $1m in a well diversified portfolio, that has experienced exponential growth. It is not about having money to invest in stocks,but also you need to be knowledgeable, persistent, and have strong hands to back it up.
Yes, it feels overwhelming when you are making good profit $73,900 weekly.
@@TroySanders-kd1nx Doreen Morris as the licensed fiduciary i use. She is always active on TLG. @doreenmorriss 💯that’s it =reach 4 advice and set up an appointment..
@@MaiChiPham-fz4tr Yes Doreen Morris helps everyone in general. Investing with Doreen now instead of parking money in the bank would make thousands of dollars weekly.
@@NicholasMorris-wp7hi Thanks for the advice! I'm new to financial planning and wasn't sure where to start.
The overall relaxed manner in which you present this information as well as the funny analogies etc makes it way easier to absorb than when listening to someone else presenting virtually the same information in overly complicated finance terms, very well structured and helpful, thank you very much for taking the time to share this
Agree the way he presented it make it much more understandable
I thought this was gonna be some boring advice. This actually opened my mind up you made some incredible points
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last 4months of 2023….
Wow that's huge, how do you make that much monthly?
I don't comfortably throw recommendations around on the internet,but I've been working with 'Amelia Jason'. God, she's brilliant! I'm sure there are others who are good.
she's mostly on Telegrams, using the user name.
@AmeliaJason11..’
When sending her a message do ensure she’s VERIFIED” cause a lot of imposter out there., .
Real ones know this is a reupload
Facts
it blocked the video mid way watching it 💀
Let's goooooo
The first one was getting stuck in the middle for me for some reason.
@@jacobw.2829damnnnn they really trying to bring you down 😂😂😂
I really liked the simplicity of your video. Thanks
Followed on IG, good luck with the podcast!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Dunker762 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@Lourd-Bab Oh please I’d love that. Thanks!
@@Dunker762 Judith Ann peace is her name
Lookup with her name on the webpage.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
Investing in many sources of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
Sure, investing is essential for maintaining your financial stability, but making any kind of legitimate investment without the correct advice of a professional can result in a significant loss as well.
@@michaelsalinas5572It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
@@LanceMclendonwanted to trade, but | got discouraged with the market price fluctuations~>
@@marktaylor8839Please who is the professional guiding you? I have lost so much as a beginner Investing into stock and crypto without a proper guidance.
I love your mindset! Great wisdom
Your honest approach and your way of explaining things got me to subscribe. I like that your not promising to make people wealthy and speaking out of content. Thank you friend!✊
Hard work and outputting value to others other than yourself. That's how you make income. Save it and you won't be broke!
Great video. For me I have a 3 fund portfolio consisting of 33% S&P, 33% Total stock, and 33% international. I feel a need to focus on complete growth so I went 100% stocks, but does the SP500 and TSM overlap too much to make sense holding both? However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait but watching my portfolio of $450k dwindle away is such an eye -sore.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
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.
@@hunter-bourke21 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
*Camille Alicia Garcia* , maintains an online presence that can be easily found through a simple search of her name on the internet.
@@hunter-bourke21 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Very good video. Valuable information.
I appreciate it. Thank you 🙏
Another great video! And just at "the right time" for me. I've realized and have started to really crack down on how much I spend on useless crap (mainly on amazon) as well as eating out or even just going to pick up the food vs having it delivered. I've also started to put 5% aside from each paycheck- I want to get to 10% soon, but I have a 6-month old son, so I just want to make sure I can be stable with what I put aside first before I pull the trigger on a full 10% lol.
This hits hard as 6 months ago, I was unemployed and could not get a job to save my life in my field at least, well, somebody gave me a chance but I had to learn completely new skills in a matter of days, 5 months later, I'm learning code from scratch at the same company, I'm earning more than I ever did before but more importantly, I'm making myself more marketable in a field that pays really well
Any tips on learning code?
@@AC313_first do research about coding and what programming languages there are, you choose which one suits you the most. After you find a course, it can even be a RUclips course, doesn't matter. Finally, you have to practice practice practice. Slowly get better, learn the concepts, find some people who also code and learn together. Build projects.
Code. ,as in ? Morse code
Ouch. Is this finally the wake up call i needed!? 🥺🙏🏾😀
Love this, thanks so much!