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
trust me, just escape your comfort zone and youre halfway to becoming successful. read the book called escape the comfort cage , it helped me in many ways
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.
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.
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.
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!
@@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.
@@adventurelife1123 When you get there you'd "rather this" & "rather that" some more. That's the whole point. That feeling will never go away unless you decide to work on what is actually making you feel so empty inside.
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!
@@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 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'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.
@@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.
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.
@@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.
@@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!
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.
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.
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
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
Former financial advisor some of my clients were doctors living on pay cheque to pay cheque others were cashiers at a supermarket with a portfolio over one mill, biggest thing I saw was expenses and lifestyle choices.
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.
"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.
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.
"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".
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $19k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
Early in my career, I wanted to grow my savings but was overwhelmed by the sheer number of investment options. Herman took the time to understand my risk tolerance, financial goals, and timeline. He didn’t push products but instead created a diversified portfolio tailored to me, helping me invest in index funds, bonds, and a few specific stocks for long-term growth.
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!!!
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.
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
I did enroll in a handful of trading classes, but they didn't help much. I've been advised to seek the advice of a competent financial counselor; how did you go about doing so?
My CFA ’’ Sharon Ann Meny ", a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
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 😅
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
I started working with Linda Aretha Reeves back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record. She was my hope during the 'bear summer' last year.
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.
@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..
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.
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
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 wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $190k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?
Avert too-good-to-be-true con tricks. Consult a fiduciary counselor; these professionals are among the best in the business and offer individualized guidance to clients based on their risk tolerance. There are undesirable ones, but some with a solid track record can be excellent.
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
@@hasede-lg9hj 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.
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.
Annette Marie Holt is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
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.
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.
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!
This dude is talking directly to me I think, I've been dragging my heels on buying a pressure washer and starting a small business. I SHOULD take this as my sign.
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
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
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!!
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.
@@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.
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!
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.
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%.
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 🙏
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.
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.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
" It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid , instead of trying to be very intelligent."
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
*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
Some tips I picked up along the way: 1. Pay off credit cards, student loan, general debt 2. Start an emergency fund 3. Max out 401k / pension 4. IRA / Roth IRA 5. Invest in yourself and your education 6. Invest in index funds
I'm not from the US, what does "Max out your 401k" mean? I know you said "/pension" but I still don't understand what "max out your pension" implies, sorry, lol.
Hi, I'm a fresh college graduate and I've actually Been wondering how I should go about this. What do you guys suggest I do, pay off debt fully first before I save / invest and get rid of the debt ASAP or else balance out between the both (debt and savings) JUST to be clear, I will be having a emergency fund but I won't be saving like a lot in it just the bare minimum to get by during testing times. It'll be great if I can get some advice on this. Thanks!
@morrighan8787 In Australia, your employer pays 10% into your superannuation account, but you can also make extra, personal contributions to it. The government caps how much you can contribute per year. I wonder if that's what this guy is talking about?
@@NeedMoreCoffeeOG sorry, yeah I'm in the US. You can set a percentage of how much your employer excludes from your pay to go in your 401K (I do 10%), but the most money that can go in there in a year is $22,500. The 401k is like a pension in the UK. So I'm saying try and hit that limit by doing the highest percentage whilst still being comfortable. In other countries there may be limits too?
@@akashgss4976 I would say depends on the interest rate, if the interest rate is high (6%) then pay off your debts first, otherwise try and pay off and save simultaneously. There is a really good book that explains all of this for US residents - Ramit Sethi's I Will Teach You To Be Rich. Good one on the emergency fund, super important!
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
@@divlweb Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
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”.
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.
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.
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.
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.
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.
@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
Yes, I am investing. I did the same saving on the side you talked about. I figured I had enough knowledge to be comfortable with trying to flip cars. I bought my first car a few months ago and I've been working on it in my free time. Either way I'll make a small profit when I'll sell it. I'll buy another car after that and do the same thing. It's pretty fun. I should maybe also add the fact that I'm a college student and I'm not an expert in fixing cars. Neither do I have much money. I just enjoy working on and learning about cars. I've already learned a lot! Just like you said, you have to keep improving. A lot of the tools I needed were bought from the money I saved and the best thing about it is that the tools themselves are kind of an investment, since next time I won't have to buy them again, so I'll make more profit. The money doesn't work for me yet, but that's because it's small amounts. Maybe when I'll buy a future classic I could say I let the money work for me, since a car like that usually gains value. Either way, starting some kind of business would ultimately be the way to go. I've been thinking about free safety training for drivers (the kind where you learn how to control suddenly skidding cars, brake without ABS and test out the tire limits). The money would come from advertisements. I'll just have to run some numbers and check whether it's feasable, but I think there is a chance because of the many benefits. My message to eneryone is that if you are passionate about something, you can do it even if it sounds like a big risk. You will adapt quickly and you won't even feel stressed about it because it's your passion and it's the thing that makes you happy in the end. When you start to pursue your passion, you will realize that all the distractions (TV, video games, social media, food...) suddenly lose relevance in your life. You won't longer need them.
@@777jrg I can't give you any field specific advice, but I guess you could start with buying and selling video games. I know there is a market for vintage video games and consoles. Maybe also start a youtube channel where you talk about them for more publicity?
@@MttSls Idk how old you are but I assume not older than 30. I know a person who started college at 37 in the field of economics. They worked as a nurse for 10 years before that. It's never too late to find something that you like.
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.
Cars break down and rent goes up every year so savings gets used for that. I have sacrificed dating,fun,having friends,having children and buying anything outside of food(not fast food) and clothing the past 20 years. I need different advice.
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.
I recently was introduced to your RUclips channel. I am in the process (Beginning Stage) of rebuilding my financial life. This is due to some choices I made in helping family members financially over an 8 year period of time which led to wiping out my complete savings and checking. Currently I am living paycheck to pay check and the struggle is to be honest 'Heavy'... I honestly do not remember it being this rough before having a nice 'easter egg' of savings and checking. On average, I have an estimated $23.16 left over after paying my bills and taking care of my home. I am in a relationship but there is no help coming in from my spouse and she works full time. This is soon to be a major change in my life and a few other changes as well. I appreciate your video and the content was amazing. Thank you!
Please don't stop adding this kind of value to people's lives. The content may seem so simple and it may seem like it should be common sense, but we live in an age where people are born and raised without this common sense. Everyone needs this, so thank you for helping people get the information they need to be better in life.
I am currently reading "Reachest man in Babilon" and your video came just at the right moment. I changed 9-5 job for a Free lance services. I know that I am on my way to financial freedom 🍀 Thank you for the video, and please keep explaining things for those who are starting from the scratch. ❤
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
she's a known advisor. I actually did look her up curiously and went through her credentials on her webbsite... Top-notch! I wrote her an email, hopefully she's accepting new intakes.
Keep up the good work. I started saving 10%, and now I'm up to 25%. Did not get there over night, slow and steady progress. The Richest Man In Babylon, is the best finance book ever.
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?
@@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!
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.
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
@@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.
Most people “failing at the basics” isn’t why they’re in poverty, poverty isn’t a personal failure. The top 1% keep the working majority in the bottom 10% by hoarding over 90-95% of the profits that those workers Labor help make and giving their workers the scraps (aka exploitation). Billionaires sustain a power structure in which the vast majority of working class people will continue to work despite being exploited through coercive power. They do this by hoarding and gaining monopolies over all the resources those workers rely on to survive: water, gas, electricity, food, housing. They “inflate” the prices of all of these things but not workers wages to basically put workers in the position of having to work or starve (COERSION). Well Over 50% of “inflation” since the pandemic began accounted for corporate profits, so it’s not inflation, it’s price gauging for profit. They misinform and manipulate the public through media and propaganda: billionaires own 86% of the media in the Uk (it’s a similar if not worse setup in the US), this manipulation and misinformation serves to make the public less aware of how they’re being exploited & to instil goals like consumerism/materialism/individualism/classism/nationalism/ableism/believing society is meritocracy etc to ensure workers will continue to work hard despite being exploited and will be blaming work ethic, individual choices, immigrants and disabled people for theirs or others lack of wealth and not the billionaires who are exploiting the working majority. I’d highly recommend watch the video “the problem with hyper-individualism” on RUclips to see concretely how poverty is not a personal failure and cancelling Netflix subscriptions or not buying lattes isn’t the reason why people aren’t better of financially. Sure if you can save 10% for yourself it’s sound financial advice but sad this channel is doing the “don’t buy lattes” classism. I guess its a self help channel and unfortunately the massive pitfall of self help is that you can’t individual solution or self improve yourself out of systemic problems. The fixation on becoming an exceptional individual being the sole source of happiness or a route to success which will bring happiness is a lonely cold road. As someone who spent years stuck in the self help sphere: Community and collective care will bring you far more happiness than self improvement.
I’ve always struggled with money and always think “I’ll save and figure out how to invest later when I actually make enough money” I’m realizing now like u said, something is better than nothing. So I just put away 10 percent of what I have made this summer in a separate place and im forgetting abt it for now. Will come back to it later when I know what to do with it. Thank you
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 🤙
Many people struggle right now to meet their basic needs. (Food and a home) "Just set aside 10% of your income" is way too simplistic advice. Of course being aware what are fun trinkets and determining if it is really worth is, is good advice. As wel as investing a part of your income. But please acknowledge that demanding higher wages is also a very good way to stop being broke. Many times the only way.
Exactly what I was just thinking. We don't have enough to pay for bills let alone the fun trinket extras like that. So how in the world are we going to save the 10%???
You’re going to take this the wrong way, but it’s coming from someone who grew up broke and retired at 30… you’re not worth that much because you don’t have the skills… money flows to value. You earn money and it goes to buy shit you value, proving my point. Do yourself a favor and buy and read the book “millionaire fastlane” by MJ Demarco I would have dreamed someone gave me that book to read when I was younger… the ball is in your court, if you ignore this advice you’re going to have a long and hard life.
@@stachowi That’s just simply not true. Look up “Congress vs SPY 2023” and that proves it because they provide little to no value outside of making themselves rich. Usually the most skilled people are broke, Only specific fields can even make you rich. And hard work will never get you rich either, Only smart investments will. Period. The rich aren’t skilled workers risking life and limb working machinery or anything. No that would be the hard workers lime myself, However once I realized I’d rather die than be a CEOs financial cuck I started my own business and do pretty well for myself now. They raised retirement age to 70, life expectancy is 76 now. So mid life is about 35 and they expect us to work till we die. Only the lucky and privileged kids who got to focus on their lives and skills rather than say, Getting bullied and traumatized, Those are the ones you speak so highly of but it’s ignorant because not everyone faces the same challenges. Most people would have offed themselves 5 times over in my shoes. I did off myself twice but survived and came out on top, The joys of corporatist America, The divided states. 🇺🇸
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires..
Cypto is a whole different ball park. I would only invest funds in it that you are willing to lose or don't need. In terms of day trding cypto I don't keep an eye on anything at the moment except XRP. Wouldn't be the right guy for day trding cypto
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.
@@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.
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.
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.
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 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
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!
trust me, just escape your comfort zone and youre halfway to becoming successful. read the book called escape the comfort cage , it helped me in many ways
thank you for the recommendation gonna go read it
Do you know the Author name?
@@josuesuperstar no, sorry
Doesn't matter if I'm in my comfort zone or not life is miserable
@@MalconMarlin dont think like that bro
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.
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!
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! 🎯💫
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
It doesn’t matter how much money you make you will always want more and that is a fact
💯💯💯
If you have a Lamborghini you're going to envy the guy with the helicopter
I d rather have a lambo and envy the guy with the helicopter than envy everyone..
Well yea bud if you making money it’s probably because you want to make money. I think you missed his point 😅
@@adventurelife1123 When you get there you'd "rather this" & "rather that" some more. That's the whole point. That feeling will never go away unless you decide to work on what is actually making you feel so empty inside.
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
"perfect is the enemy of good"
this shit hit.
Man this cure a little bit of my depression. I needed this.
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'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.
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!
The fact that nobody talks about forbidden book on Xorlest called 21 Laws Of The Game is so insane
Ok bot trying to promote a scam website 😂
Bot activities💀I almost feel bad for all you 2.3k idiots who liked this
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.
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.
Dont be a consumer. You will get wealthy.
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 ✊️
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
your videos are really helping me think through a tough period im having, thank you man
dont forget how you got kicked of chronic
Former financial advisor some of my clients were doctors living on pay cheque to pay cheque others were cashiers at a supermarket with a portfolio over one mill, biggest thing I saw was expenses and lifestyle choices.
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.
"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
Ima watch this back twice. I hate upload errors and honestly, it’s one of your best.
Thanks Blake! You're a real G
Finding the 'Zyphura Money' ebook should be your top priority, even if it's the last thing you do in life
Investing has been rather rewarding to me and I've learned that getting a good return is very much attainable if you know your way around it.
How are you doing it? Not everyone is as lucky as you know.
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $19k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finances. It’s all gambling.
Hermanw jonas that’s his gmail okay
Early in my career, I wanted to grow my savings but was overwhelmed by the sheer number of investment options. Herman took the time to understand my risk tolerance, financial goals, and timeline. He didn’t push products but instead created a diversified portfolio tailored to me, helping me invest in index funds, bonds, and a few specific stocks for long-term growth.
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 think we all here needed this talking to. Thank you brother.
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.
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
I did enroll in a handful of trading classes, but they didn't help much. I've been advised to seek the advice of a competent financial counselor; how did you go about doing so?
My CFA ’’ Sharon Ann Meny ", a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
@@PASCALDAB Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
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 😅
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
I started working with Linda Aretha Reeves back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record. She was my hope during the 'bear summer' last year.
thanks for sharing, i did a quick web search and was able to find her, i wrote her a mail and i hope she responds soon
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.
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..
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.
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
Obviously these investment requires much cash and concentration to start?
Not really so, it depends on the how much you want to start with and with the advice or guidance of a good expert you will surely be successful
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 wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $190k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?
Avert too-good-to-be-true con tricks. Consult a fiduciary counselor; these professionals are among the best in the business and offer individualized guidance to clients based on their risk tolerance. There are undesirable ones, but some with a solid track record can be excellent.
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
@@hasede-lg9hj 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.
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.
Annette Marie Holt is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
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
failed scammer chain
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
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.
That 10% saved my financial situation
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!
This dude is talking directly to me I think, I've been dragging my heels on buying a pressure washer and starting a small business. I SHOULD take this as my sign.
Did you do it?
@@procelswhat do you think brother. He said I should, not I’m going to. Take that as a sign
@@TMoneyLive23 so I can’t ask if he committed to his idea? What’s wrong with that?
I think everyone has thought of buying a pressure washer at one point in their life 😂
For the record, 100 bucks for a wash is a total rip-off
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
“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 ?
At least he didn't say Valve :)
0:40 stopped watching video to go buy a book.
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.
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'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!!
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.
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!
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., .
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%.
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.
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.
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😂
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
" It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid , instead of trying to be very intelligent."
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Trading under the guidance of an expert is the best strategy for beginners.
*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~>
@hazardblue567Haven't you heard about MICHAEL T ABAGNALE??
Some tips I picked up along the way:
1. Pay off credit cards, student loan, general debt
2. Start an emergency fund
3. Max out 401k / pension
4. IRA / Roth IRA
5. Invest in yourself and your education
6. Invest in index funds
I'm not from the US, what does "Max out your 401k" mean? I know you said "/pension" but I still don't understand what "max out your pension" implies, sorry, lol.
Hi, I'm a fresh college graduate and I've actually Been wondering how I should go about this. What do you guys suggest I do, pay off debt fully first before I save / invest and get rid of the debt ASAP or else balance out between the both (debt and savings)
JUST to be clear, I will be having a emergency fund but I won't be saving like a lot in it just the bare minimum to get by during testing times. It'll be great if I can get some advice on this. Thanks!
@morrighan8787 In Australia, your employer pays 10% into your superannuation account, but you can also make extra, personal contributions to it. The government caps how much you can contribute per year. I wonder if that's what this guy is talking about?
@@NeedMoreCoffeeOG sorry, yeah I'm in the US. You can set a percentage of how much your employer excludes from your pay to go in your 401K (I do 10%), but the most money that can go in there in a year is $22,500. The 401k is like a pension in the UK. So I'm saying try and hit that limit by doing the highest percentage whilst still being comfortable. In other countries there may be limits too?
@@akashgss4976 I would say depends on the interest rate, if the interest rate is high (6%) then pay off your debts first, otherwise try and pay off and save simultaneously. There is a really good book that explains all of this for US residents - Ramit Sethi's I Will Teach You To Be Rich. Good one on the emergency fund, super important!
He is like Mark Zuckerbergs human brother
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more.
@@divlweb Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I want to play the long term game with well diversified fund. Please how can i reach this CFP of yours?
@@divlweb I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..
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”.
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.
People spend 40 hours a week working for money and 0 hours a week learning about money. It’s one of the great tragedies of life.
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.
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.
@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
@Dunker762 Judith Ann peace is her name
Lookup with her name on the webpage.
@Dunker762 You are welcome .
Bab why u gotta grift 💔
A payday heist perhaps.
Placing $300 bids on spider man comic books that are signed by McFarlane and Stand Lee was my ticket out of poverty....
Excelsior!
Yes, I am investing. I did the same saving on the side you talked about. I figured I had enough knowledge to be comfortable with trying to flip cars. I bought my first car a few months ago and I've been working on it in my free time. Either way I'll make a small profit when I'll sell it. I'll buy another car after that and do the same thing. It's pretty fun.
I should maybe also add the fact that I'm a college student and I'm not an expert in fixing cars. Neither do I have much money. I just enjoy working on and learning about cars. I've already learned a lot! Just like you said, you have to keep improving. A lot of the tools I needed were bought from the money I saved and the best thing about it is that the tools themselves are kind of an investment, since next time I won't have to buy them again, so I'll make more profit.
The money doesn't work for me yet, but that's because it's small amounts. Maybe when I'll buy a future classic I could say I let the money work for me, since a car like that usually gains value. Either way, starting some kind of business would ultimately be the way to go. I've been thinking about free safety training for drivers (the kind where you learn how to control suddenly skidding cars, brake without ABS and test out the tire limits). The money would come from advertisements. I'll just have to run some numbers and check whether it's feasable, but I think there is a chance because of the many benefits.
My message to eneryone is that if you are passionate about something, you can do it even if it sounds like a big risk. You will adapt quickly and you won't even feel stressed about it because it's your passion and it's the thing that makes you happy in the end.
When you start to pursue your passion, you will realize that all the distractions (TV, video games, social media, food...) suddenly lose relevance in your life. You won't longer need them.
What if your passion are videogames?
Never had any passion in my life, what can I do?
@@777jrg I can't give you any field specific advice, but I guess you could start with buying and selling video games. I know there is a market for vintage video games and consoles. Maybe also start a youtube channel where you talk about them for more publicity?
@@MttSls Idk how old you are but I assume not older than 30. I know a person who started college at 37 in the field of economics. They worked as a nurse for 10 years before that. It's never too late to find something that you like.
I don’t think I’ve ever heard trinket that many times in such a short time frame
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.
Cars break down and rent goes up every year so savings gets used for that. I have sacrificed dating,fun,having friends,having children and buying anything outside of food(not fast food) and clothing the past 20 years. I need different advice.
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.
This was educational AND motivational, thank you so much for this content.
I recently was introduced to your RUclips channel. I am in the process (Beginning Stage) of rebuilding my financial life. This is due to some choices I made in helping family members financially over an 8 year period of time which led to wiping out my complete savings and checking. Currently I am living paycheck to pay check and the struggle is to be honest 'Heavy'... I honestly do not remember it being this rough before having a nice 'easter egg' of savings and checking. On average, I have an estimated $23.16 left over after paying my bills and taking care of my home. I am in a relationship but there is no help coming in from my spouse and she works full time. This is soon to be a major change in my life and a few other changes as well. I appreciate your video and the content was amazing. Thank you!
Sounds like my life rn 🥲
Please don't stop adding this kind of value to people's lives. The content may seem so simple and it may seem like it should be common sense, but we live in an age where people are born and raised without this common sense. Everyone needs this, so thank you for helping people get the information they need to be better in life.
I am currently reading "Reachest man in Babilon" and your video came just at the right moment. I changed 9-5 job for a Free lance services. I know that I am on my way to financial freedom 🍀 Thank you for the video, and please keep explaining things for those who are starting from the scratch. ❤
Thank you for recommending Alice Lee chen financials on one of your videos. I reached out to her and investing with her has been amazing.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
@@zawzawzaw9719Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
@@MandyMoore-ie7jwShe's Alice Lee chen financials
she's a known advisor. I actually did look her up curiously and went through her credentials on her webbsite... Top-notch! I wrote her an email, hopefully she's accepting new intakes.
@@JohnHopkins-q7rHow do I access her ? I really need this
2:35
“We are all in Chuck E’ Cheese.”
- Joey, 2023
But so true 😂
Thanks for giving us your time to give knowledge on life!
It's all starting to make sense
Keep up the good work. I started saving 10%, and now I'm up to 25%. Did not get there over night, slow and steady progress. The Richest Man In Babylon, is the best finance book ever.
Hard work and outputting value to others other than yourself. That's how you make income. Save it and you won't be broke!
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!
Early in life I realized I couldn’t be educated so I just went to work and did any kinda job I could get. The money I made I saved and invested.
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.
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
I really liked the simplicity of your video. Thanks
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
Most people “failing at the basics” isn’t why they’re in poverty, poverty isn’t a personal failure. The top 1% keep the working majority in the bottom 10% by hoarding over 90-95% of the profits that those workers Labor help make and giving their workers the scraps (aka exploitation). Billionaires sustain a power structure in which the vast majority of working class people will continue to work despite being exploited through coercive power. They do this by hoarding and gaining monopolies over all the resources those workers rely on to survive: water, gas, electricity, food, housing. They “inflate” the prices of all of these things but not workers wages to basically put workers in the position of having to work or starve (COERSION). Well Over 50% of “inflation” since the pandemic began accounted for corporate profits, so it’s not inflation, it’s price gauging for profit. They misinform and manipulate the public through media and propaganda: billionaires own 86% of the media in the Uk (it’s a similar if not worse setup in the US), this manipulation and misinformation serves to make the public less aware of how they’re being exploited & to instil goals like consumerism/materialism/individualism/classism/nationalism/ableism/believing society is meritocracy etc to ensure workers will continue to work hard despite being exploited and will be blaming work ethic, individual choices, immigrants and disabled people for theirs or others lack of wealth and not the billionaires who are exploiting the working majority. I’d highly recommend watch the video “the problem with hyper-individualism” on RUclips to see concretely how poverty is not a personal failure and cancelling Netflix subscriptions or not buying lattes isn’t the reason why people aren’t better of financially. Sure if you can save 10% for yourself it’s sound financial advice but sad this channel is doing the “don’t buy lattes” classism. I guess its a self help channel and unfortunately the massive pitfall of self help is that you can’t individual solution or self improve yourself out of systemic problems. The fixation on becoming an exceptional individual being the sole source of happiness or a route to success which will bring happiness is a lonely cold road. As someone who spent years stuck in the self help sphere: Community and collective care will bring you far more happiness than self improvement.
🗣️💯
Anyone else here obsessed with Secret Pathway To Triumph? It's like discovering a secret treasure map for wealth!
Be careful people, it's been showing up everywhere lately - probably a scam, dont fall for it
Anything secret is a scam
I’ve always struggled with money and always think “I’ll save and figure out how to invest later when I actually make enough money” I’m realizing now like u said, something is better than nothing. So I just put away 10 percent of what I have made this summer in a separate place and im forgetting abt it for now. Will come back to it later when I know what to do with it. Thank you
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?
"you gotta pay rent right? that's like...all of it"😂
Many people struggle right now to meet their basic needs. (Food and a home) "Just set aside 10% of your income" is way too simplistic advice. Of course being aware what are fun trinkets and determining if it is really worth is, is good advice. As wel as investing a part of your income.
But please acknowledge that demanding higher wages is also a very good way to stop being broke. Many times the only way.
Exactly what I was just thinking. We don't have enough to pay for bills let alone the fun trinket extras like that. So how in the world are we going to save the 10%???
@@jennifer7648 stop wasting ur money
You’re going to take this the wrong way, but it’s coming from someone who grew up broke and retired at 30… you’re not worth that much because you don’t have the skills… money flows to value.
You earn money and it goes to buy shit you value, proving my point.
Do yourself a favor and buy and read the book “millionaire fastlane” by MJ Demarco
I would have dreamed someone gave me that book to read when I was younger… the ball is in your court, if you ignore this advice you’re going to have a long and hard life.
@@stachowi That’s just simply not true. Look up “Congress vs SPY 2023” and that proves it because they provide little to no value outside of making themselves rich.
Usually the most skilled people are broke, Only specific fields can even make you rich. And hard work will never get you rich either, Only smart investments will. Period. The rich aren’t skilled workers risking life and limb working machinery or anything.
No that would be the hard workers lime myself, However once I realized I’d rather die than be a CEOs financial cuck I started my own business and do pretty well for myself now. They raised retirement age to 70, life expectancy is 76 now.
So mid life is about 35 and they expect us to work till we die. Only the lucky and privileged kids who got to focus on their lives and skills rather than say, Getting bullied and traumatized, Those are the ones you speak so highly of but it’s ignorant because not everyone faces the same challenges. Most people would have offed themselves 5 times over in my shoes.
I did off myself twice but survived and came out on top, The joys of corporatist America, The divided states. 🇺🇸
Smoking cigarettes is a crazy expense : $70 for 25 G here in Australia now. Imagine if you saved that and put it in a high yield savings account.
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires..
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
@@vickia.weaver7488 You are right. Been thinking of going into gold and cyptocurrency
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
I’m new to cypto trading, feels overwhelming but I won’t give up on learning this. Thanks for your clear explanation from the very beginning!
Cypto is a whole different ball park. I would only invest funds in it that you are willing to lose or don't need. In terms of day trding cypto I don't keep an eye on anything at the moment except XRP. Wouldn't be the right guy for day trding cypto
Loved your approach to understanding money.... thank you. Just what I needed to bring this information to my family.
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.
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.
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 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
Make sure you have what you need. It's the wants that'll get you into trouble.
Love you Man!!! This is my second vid. New sub. You are speaking realism and truth!!! Keep on, Keeping on!!!!
Just good, solid advice, delivered with a sense of humor. Can't ask for anything more.