Hey everyone, three points I want to clarify: 1) by "rich," I am referring to the excessive disposable income flaunted in the trading advertisements (i.e. fast cars, private jets, etc.). I do believe long term (with the help of compounding) you can make a lot of money investing, hence my specification of "investments won't make you rich, probably...at least not in the short-term." 2) Regarding the wealth survey, I should have highlighted that these people got to where they are by saving AND investing. The point I was trying to highlight was that they didn't get there by investing ALONE (i.e. like the example, where you invest 10K once and never again) but rather used disciplined savings to fuel their investment returns. 3) I believe investments are VITAL and that over time they can earn you a lot of money when combined with a strong savings program. Sorry if the video came off as anti-investment; I promise you that it is not. Sorry for any confusion, one of the problems with making an unscripted video!
The Plain Bagel I made over 7 figures in 4 years getting in before the Canadian MJ legalization, still in my 30’s. Mostly with Canopy Growth Corp, but others in the Canadian sector. Timing and knowledge about what your investing in was key. I’m sold completely out and invested in guaranteed investments for the time being, waiting for the incoming economic downturn. I do agree that being disciplined and savings are very important BUT those savings need to be placed in the appropriate sectors during growth periods to maximize your time. I’m in my mid 30’s. The secret to good investing is finding undervalued sectors or individual stocks.
@@Luis-bk9jn Technically some people distinguish between saving as in keeping money in an account and investing as holding securities (i.e. money is either SPENT, SAVED or INVESTED). Making this video though I was using the terms interchangeably.
i agree with you. people who i know didn't like stock market, they said is rigged, is evil, is gambling they even claim i will lose all my money one day. i told them this isn't winning lottery this is investment in (1 to 10 years) this isn't turn you into millionaire. and yet my friend still claim that i gamble with my money and they refused to learn. but the irony is they go to casino and gamble their money which they claimed it's for fun, it's like donation (if i lose i pretented to be a donation to the casino after all i only lose couple hundred dollar how bad can it be?) people have "get rich quick" mind is really are something.
The reality is if you're not a rich person when you start investing you're barely going to have unrealized gains above inflation by the end your life. I mean that with no malice.
"If they had a strategy that earned above market returns, they'd sell it to a hedge fund, not you through a RUclips ad." Very true, many people need to hear this.
Just the other day, there was an ad of Investor Business Daily on Facebook offering its premium tools for $34 a month, and there was a comment: "if your tools are that good, why aren't you using them to make money instead of selling a monthly subscription?" I was laughing so hard because it is true lol
@onee If they weren't already rich then selling it would be the most surefire way to get a lot of cash to start off with. THEN they could start their own fund
@@onee well it's not that if you sell the strategy to a hedge fund, you no longer will have that strategy. The hedge fund that buys the strategy will never share that strategy to anyone for obvious reasons. And teh only two people who know the strategy will be you and the hedge fund and you can still make money using that strategy. You will get 100 millions or even half a billion for giving a strategy that brings 'guaranteed' 30 % return. So you will actually be better off selling it to one hedge fund and using that money to continue investing with that strategy.
@@anirudhpokharel1489 There's one problem. No one will buy it without a proof, and when you manage the proof, it's already late as markets have moved on. If you have perfect strategy, you use it, and technically only other way to profit would be to sell it to suckers who buy anything. For the record I'm not defending those scammers, which is what most if not all of those marketeers are, just pointing out theoretical parspective to it.
Graham Stephan there's a vast difference between investing and active trading he is mixing to two when they are different . The trading strategies is calling studying all weekend long for a year or two that's the strategy .
You know. I’ve never commented on a RUclips video before, but today that changes. Thanks for doing what you do. I’m completely new to the world of investment and I can already tell as a visual learner your channel is going to be my saving grace. You make this fun and easy. All while being up front, honest, offering data backed evidence, and your own level headed logic in a field that is so often shrouded in deceit or mystery. I wish you continued success!
Mitch Gilbert honesty is one of the hallmarks of a great salesman but identifying needs and communication of an idea and the being able to articulate why it benefits them is essentially what sales people do. Requires active listening skills even to what’s not said. You could have the most honest person but that doesn’t automatically that person make sales
@TailsEngineUnited I never claimed a salesman should tell you every detail. But they should be transparent to the degree that is not cheating them. The same way you wouldn’t tell a girl you’re dating all the unnecessary details of your life. That’s not being honest that is just over sharing unnecessary details. However there is a boundary that you should keep in that you don’t mislead or be dishonest with your customer and is not to be conflated with having to tell your customer unnecessary details. When you frame anything in sales or in life you put your best foot forward obviously but to be a salesman with integrity you still are honest. If you feel that your industry has to cheat or mislead people to get sales perhaps it’s a dying business and/or illegitimate business model. Not everything is profitable in business. You would not accept a doctor telling you they push pills just to juice their customers of revenue instead of actually caring and fixing the root cause of their Heath problems would you, morally speaking. You’d tell them they should either change their business model or stop cheating people and killing and stealing their life with pills. If you don’t value integrity then this conversation is a lost cause.
I don't usually comment on videos but this is really true. Especially in this world full of ads and instant gratification mentality. “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” -Paul Samuelson
“Spend $500 on my course and learn how to play in a zero/negative-sum game and become a millionaire like me. Oh, how did I make my money? Selling courses” -Every financial youtuber ever
I appreciate the ACTUAL good faith you put in people. Protecting us against the "get rich quick schemes" Very much appreciated. Thank you for keeping me level headed.
It is the mark of an educated mind to be able to entertain a thought without accepting it -Aristotle Just putting this up here in hopes that you will never be discouraged in posting these kinds of videos :) You are truly a genuine good person, I hope your videos like this will inspire a lot more people to have the same character and pureness like you or even greater :D Clearly you already have inspired me :)
I feel your frustration. I’m new to this game and since watching videos like yours I’ve noticed a significant spike in “those” ads. It’s really easy to see how these aggressive tactics can manipulate people. Almost enough to explain the Lamborghini in the background... Your knowledge is helping those you reach. Don’t be disheartened.
Same here, every ad is about getting rich quick, one ad i seen yesterday was just some guy driving fast to everyplace he needed to go in his obviously rented Lamborghini
But you still should be rich enough to have that capital or income per month. So the claim for poor people that investing won't make rich probably is way more logical and understandable than a claim given by the RUclipsr who has many more subscribers for what reason.
@@JustATotalNerd Bruh u realise the avarage person in th US is networth is around 400k meaning after all that ur still the same as somone who worked at an insurance company
It's a long game. I started investing when I was 24 and currently have about half a million. Plenty of years until I retire. During that period, I've heard so many people tell me life is short, spend it, you might not live, what if you die, etc etc. Patience is the key (and patience saves you taxes too)
Nice dose of reality in a world of overselling. Always remember: if you invest $2 and suffer a 50% decline (=$1), you're portfolio must return 100% just to break even! Investing is like building muscle; slow and steady growth. Beware of the steroid shortcuts and all associated side effects.
I could sell my house, my car, my tv, my wife and invest it all.....and then get a regular full time job paying $11/hr and start leaving in a $700 / mnthly rent room and also live frugally so i can also invest some of my paycheck. Wait 10 yrs and i'm rich!!!!!!
Lots of these gurus take advantage of the lack of knowledge and despair that reigns the vast majority of their followers. They know how to coax and win over them to stack up fast throughout marketing techniques, good results and vivid speeches that turn these people to make emotion-driven decisions. Yet, they will never show you the relative frequency of losers with respect to winners. They frame down the few ones whose success is merely decent and subsequently magnify it. That´s a shame. As you mentioned in the video, the game is not about getting rich quick or being a millionaire, but about setting up strategies to attain our financial goals. Thank you for being so real, Richard! Peace out.
Hence my suggestion, to make a video on why those day traders who use technical analysis mostly under perform compared to the index (S&P 500). I'm tired of the Tim Sykes and the likes coercing people into buying their programs. Buy SPY shares (*not official investment advice*) and sit on your ass.
@@HowMoneyWorks most do, but not everyone, its just because they are overtrading, and also overanalysing what they are buying, and also buys shitty companies. SPY is gonna correct, and probably in for more downwards movement, better getting out of spy, dont wanna sit thru a correction, of course, it will get up again, but it could take YEARS, better of selling when you are in the green and buying in lower when its done correcting. Just buying SPY shares is not that good of an advice either, maybe for the average person who dont care, and just want to put there money somewhere.
TL,DR: Investing ALONE won't make you rich. It is the regular SAVING habit to increase your capital for INVESTING. Good insight, Richard! Some people want to get rich by investing alone but don't want to be fiscally sound in their personal finances which in turn can end up any rich man broke.
I'm just getting started in investiments, i intend to do kind of what warren buffet did, like, Buy and hold for 15+ years.... do you think it's a good strategy for begginer?
@@rinseco Warren Buffett gives a lot of advice for beginning investors. Google quotes by him, it's really helpful. Also I think he would say buy and hold SPY forever. That's actually his instructions for his estate for after he passes-- to not actively manage his money, just put it in SPY.
I've never seen anyone say their investing strategy is putting aside 10 000, never saving anything again and then becoming rich off of that 10 000 in a few years. I'm sure foolish people like that exist but most people that get into investing know it takes time and consistent saving
Your right man. What are you 30 years old? If you buy a $3000 car and get rid of that 300$ per month car payment, you could invest that $300 at 9.8% and have 1 million dollars when you retire. That's starting from 0$. If your 25 you'll have 1.6 million. This youtuber is wrong.
Stephen Cardone the point is you’re not getting 9.8% and if you did that’s before any of those monthly fees and the capital gains tax when you finally sell
You already have my respect, don't worry your IKEA furniture doesn't throw me off, it shows that you are not trying to act rich to get attention. And with that mentality you it makes me more confident that what you say is genuine and reliable information. Thank you for yourself :)
Yeah, I actually found this channel because I was looking for accurate academic investment and financial information and avoided those guys with fancy things and empty promises like the plague
I dont particularly care about being rich, I just want to live a decent life without having to work a third of my time away for it (to make someone else rich)
Really.. my financial goal is to be able to generate just enough passive income that covers my most basic bills so that I won't have to worry much about housing, car, and food.
Finally someone said it. I just want enough for food, bills, cheap car and small home. Not these mansions with like 20 bedrooms and 15 bathrooms and a sports car with a rocket booster 😂
4:10 But man, a million from nothing is amazing even though it takes like 5 decades. Now imagine if you combine some income with that savings and how quick you can get that to a million.
@@FractalNoize Is all retirement funding in US entirely optional, or why is everyone so worried of their old age income there? Living in Finland there's a slice of every paycheck you get going into retirement fund, whether you want it or not. So when I retire, assuming I keep my house and job, I should be able to live at least decently without any optional savings from my part. Sure I do save money, but not for old age. I don't think I will be able to enjoy much of riches at 70... Not at least if I don't change drastically my lifestyle in next 20 years.
@@jhutt8002 don't know much about the US but in Italy there's a mandatory retirement fund too, the problem is that it won't be enough if you want to do exciting stuff, travel and other. The key is understanding how much you are willing to sacrifice for your retirement, you don't want to live like a cockroach the majority of your life or youth just to have money when you are 70 but you don't also want to spend your last days in a miserable way
@@LucaPizzoplus I must say I've never thought of that. My view of perfect retirement would be to just stay at home doing all those fun hobbies I never have time now: Play and compose music, hunt, write a book, play games, fix cars, watch all those movies on my list and listen records I've meant to... etc... I don't need money for retirement. Just enough to pay food, house, and few bits and parts now and then to maintenance my stuff.
I think he just worded the title very poorly in an attempt to get views. He knows investing works but what he's trying to say is that investing won't give you the MTV Cribs lifestyle unless you make a lot of money and put it to work.
But that’s not at all what he said, it’s true you can definitely get lucky and do so well that you retire at 30, but that’s most likely not gonna happen and that’s what he said, if you do it right you’ll still make some money like the example he gave you invest $1,000 and make a 100% return... that’s great but $1,000 profit doesn’t make you rich, it works and it’s something everyone should learn about and try
Start early, invest in index funds through a tax-exempt account (Roth IRA or 401k if you're in the US). When you're retirement age you'll be glad you did.
I got into investing in stocks in 2018 at the age of 18. I started with only a few hundred dollars and everything stated in this video has been nearly 100% accurate with my own experience. I became naive with the tech stock rally and thought they could never have a bad week. Then I sold when the market tumbled in Nov. 2018 and cashed out at a loss because I needed the money. I spent 2 years staying away from the market and decided to give it another shot. Now with some lessons to learn from and a slightly better understanding of finance through this channel and through my university courses. You have no idea how badly I needed to watch a video like this and I didn’t even know I needed it.
You’re doing a great service to people who watch this video. You’ll probably save hundreds of people from being scammed by those scammy “I will teach you to be rich” programs and people from being burned and losing money in the stock market just because the mass media keep telling us that we can become rich from investing so we jump head first into stock investing when in fact investing is just to maintain (from inflation) or probably increase just slightly one’s wealth. Love this kind of videos and keep up the great work! 👍🏻🙌🏻
I agree, it is amazing. But it will never make you rich, which is exactly the point of this video. Then, of course, it depends a lot on what you define as "being rich". If you take his example: you invest 10k today. You say that with 7%, every 10 years you double your investment, which is correct (slightly less if you do the math). So given these numbers, after 10 years you earn 10k extra. It is amazing because it is "free" money, but I think we all agree that 10k more in your bank account after 10 year has nothing to do with the idea of "getting rich". Plus you need to consider inflation, which is usually 2%, meaning 10k more would be actually worth 8.33k in 10 years (remember that inflation compounds too). Then if you want to be millionaire out of your 10k investment, you will need 95 years (considering inflation). Good luck with that! Finally: we are assuming you constantly get 7% every year for 95 years, which is impossible. Several years you are going to lose money because that is how the market works, so it is likely to require more than 95 years in reality. In addition to that, inflation is very likely to be much higher than 2%. The average annual inflation rate in US over the last 20 years was 3.22%. Bottom line: you are more likely to die much before you make 1 million. I love this video because it forces you to think, be a bit realistic and realize how many lies and scams are written and told around. All these "get rich quick" schemes work only to the seller, who gets money from books, online courses, youtube videos and other marketing tools. If somebody has a magic recipe to get rich quick, I bet he will spent all his time to use it for himself, rather than using up his time to make videos, prepare courses, writing books, etc. I agree with every point of this video, which is summarized by the title: "Investing won't make you rich (probably)". The word "probably" makes sense because you have a very little chance to be extremely lucky and make some real money out of an investment, but it is like winning a lottery. The reality is that you won't. You want to be rich? Do as he said: save! The more you save, the more you can built wealth. Then you slowly invest part of your saving (expecting normal market-like returns) and you slowly built wealth. That's recipe. You are not going to be rich tomorrow, but if you focus more on saving (meaning increasing your incomes and decreasing your expenses), than you are very likely to make one million in one or more decades. Great video by the way.
The “rule of 72” - Divide the interest rate into 72 and the answer will tell you how quickly your money will double. IE: 10% interest rate into 72, your money will double every 7.2 years.
@@ChimpRevolution I agree. My point is that 50, 40 or even 30 years is not a "get rich quick" recipe, but it is what honestly takes to built wealth and what we should focus on. Part of the real recipe, as you write, is to costantly invest money, ideally every month. But first you need to save every month :)
@@Block_BB yeah of course I understand it's not a get rich quick. I currently have a emergency fund setup and about 1000 dollars in my brokerage account however every month I add $100 to it plus if I'm under budget I invest what I saved
The moment you said 'investments won't make you rich' I got an add from a man holding $10,000 telling me he could make me rich investing. Who could possibly say who is right or not 😅
Happy Friday everyone! Interested to see if anyone has ever tried one of the mentioned trading programs; what was your experience if you have? Also curious if people agree or disagree with any of my points.
I agree, i am saving 10% of my total income after taxes no matter what happens or what wishes i might have. I am happy with anything that is higher than 4% profit anyday. Investing is just like a savings Account for me, 3% is meh - 4% good and 5% i am happy. And investing wont replace ur work, if you are a average Joe inregards to ur capital. My believes, but hey I am young and might naive - but this way i am happy and stay sane.
Bless you for telling the real hard truths. Honesty is the best thing you can give people. People ought to be instantly suspicious of any get-rich-quick scheme salesman.
Hi, I really like your videos. I keep hearing about , this strategy where you invest let's say 300 $ every month in index funds and you never sell. I have read this strategy in a some books. What you think about it ?. I hope my explanation is good enough. Keep up with the good work
@@BoutiquedasLampadas Excellent. If you follow this strategy (putting away as much as you can), you'll be more than satisfied in 30 years' time. Don't forget to re-invest your dividends.. that's where the majority of long term growth in your Portfolio will come from.
I'm glad an instagrammer brought me to this vid. It's well-made and I enjoyed it. I pretty much treat my portfolio like an aggressive savings account with daily deposits. The act of putting money in for me is more important than the returns I'm getting. I'd rather gain 1% than spend my money on dumb items
Feel like he’s talking to me, “the little guy”....and doing a good job of it. He’s helping me get a good foundation in the basics of the financial markets and the inner workings . This episode certainly laid the correct “expectation mindset” to us 401k participants.... i.e. we’re not day traders! But that doesn’t stop us from learning as much as we can.
Excellent and straight forward video. Thank you for making it. You helped push my current investing ideas back to reality. I'm 53 (2021), and wish I had invested when I was younger. Unfortunately for me, it's a bit too late. I'm not broke. Just wish I had more to do any and everything beyond the basics. Younger viewers, invest safely, but do it NOW, and don't expect $$$$$ in just a couple of years. Be patient.
Very surprised that your channel has only 30k subscribers. What you say is true for majority of investors and people always think that they can out perform the market. Keep up your good work and continue educating people!
Great video. I think it’s about time someone talked about this. I view investing as a way to make my money growing for the future but realistically I know I won’t get rich off of it. One more thing I view saving money and investing as intertwined. I can’t invest if I do t save my money.
Excellent video. True gem. Congratulations for opening up these thoughts. They might prevent some people from going through financial hardships or "expectation hangovers".
I gave you a thumbs up because I appreciate the information. People need to realize that ther is no "secret" to getting wealthy. I will also say that just because you "may lose", doesn't mean you shouldn't invest.
I love how he is talking about those RUclips ads that promise you will get rich with their simple strategy, and in the middle of the video I GOT ONE OF THOSE ADS 🤣
Monthly fees, capital gains tax, inflation, making stupid decisions and going backwards, people only focus on the financial gains that are not as quick as you’d hope but never on what it’s going to cost them in the long run
I really understand your point, tried before to follow someone with his unique way of investing and lost some money, you said that if someone can sell his strategy to a hedge fund he would do that and not trying to sell it to everyone else with a youtube add, that is obviously correct and I didn't think about it until now. thanks - just subscribed to your channel.
For the most part, investments supplement your income and then can replace your income in the future. Won't be rich but won't have to work later. Hence, retirement. You need cash flow, start a business and scale it then invest
I went to school for finance and have experience with multiple investment types and its refreshing to see someone give authentic advice with regards to investing. I try to caution people that investing is not a get rich quick scheme, its technically a savings strategy. Its good to see real financial advice for one.
I understand that many people come at this with the wrong mentality and that they need to be warned.. BUT, investing consistently and learning to become excited to invest $500 because it'll amplify over the next decennia, is something that people should learn and is very real.
Great explanation. A lot of us have heard these pints before but it is always good to have a reminder to not allow your expectations and dreaming of hitting it big to get in the way of making smart decisions. You also said it very well. Thank you
They’ve already started investing slowly and don’t want to admit that they will only be getting 3/4% and spend a lot of it on fees and will never be rich
I am really happy watching your videos although they have a sad ending because of the reality of such investments is mostly sad. Thank you for being there for the viewers like me who love to experience the reality no matter what it is. 💐🙏🏻👍🏻
Very well done, you make a number of good points. I am more than tired of "Click below to get my top 3 stocks." When you do that, they ask for your email, and then they and their cohorts bombard you with all kinds of get rich schemes, etc. I spent a solid hour today "unsubscribing" from various and sundry emails related to investing. Think I'll keep watching your videos. BTW, I'm a brand new subscriber after watching only two of your videos. You're very honest and open, good qualities to have and to share. Keep up the good work. John (in Texas)
I think that the most Important thing to do is to make sure that a good percentage of your income goes into your investments every month or year in a SIP manner
Ok, 10000 will take you 51 years to reach a million. But you missed one single point here. People keep adding more money into the 10k every month.. thousands per year.. and this way they will reach their goal way faster!
I made a comment exactly on that. 10k only yeah 51 years but 10k every every year in 50 years that's 500,000 alone in invested income added to compounding interest at 9% with 3% appreciation annually you will have a 6 figure dividend in 50 years. With nearly 2 million paid out in dividends alone by that time. And that's only adding 10k per year if you were to get into a position to add 15 or 20k annually then goodness.and that's with no other assets like owning a home or buying any rentals to add to your net worth.
This is my second time watching this. It autoplayed today, after I got pretty excited/emotional looking at stocks over the past couple days. I think I should watch this every couple of months or so to keep me sober.
Really love hearing you call out the shitty ads promising financial freedom / trading strategies that make a lot of money and then get multiple ads saying the same exact thing. Spot on!
Also, I would LOVE you to talk about how we should "rate" analysts. Too many people get by getting on programs saying "Dow 100k!!!" or "$500 barrel oil!" only to never see those things come to fruition. The penalty for being wrong as a financial investor is you lose money. The penalty for being wrong as an economist is a nobel prize.
Any point on inflation? Saving is great, in fact, it's the starting point but our savings sitting somewhere are worth less and less, year after year...
"borrowing" assets at age 20, and living off spare cash flow till age 50+ with 3x more debt than equity, and hoping rental prices don't plummet if there is an economic emigration. All it takes it one big californian earthquake, and suddenly your cashflow goes negative, along with foreclosures. Mortgages are a massive cash pit all the way down to bankruptcy, if the economy doesn't go your way. Big risk, big reward - when it works, that is. If anyone can learn anything from 2020, it ain't a prime time to invest or borrow. Can't go wrong with good old fashioned hard work though.
@@NoOne-jy6mc this is the worst possible way to think. instead of investing your money is literally being depreciated just look at vgt or qqq etfs and see how much money your missing out on
@@cantu7614 but why tie up 100k savings for a year to generate 7k (providing the world doesn't suddenly go bust), when you can work for a year to make 100k. Scenario 1 you end up with 107k available to spend. Scenario 2 you end up with 200k available to spend. Same thing applies over 10 years. You get very little reward for tieing up your money just so you can't spend it. What good is generating money if you can't spend it until 10, 20, 30 years later. Nobody can even spend that much in one go anyway, and near the end of their lifetime in their 50's or later is generally when they can make a decision to cash out some of their investments. And why would they even do it then anyway, because obviously they have learned to live their whole life without spending most of the money they earn, so why change habits and start splurging in their 50's for no reason. You basically end up with both people working the same amount of time in their life, yet one who invests all of their hard earned money without spending most of it, versus someone who spends most of their hard earned money and reaps the benefits of that money all along the way, with the other one only splurging large amounts after their 50's and probably won't do that anyway when they get there. Look at any rich person. They are usually over 50, if they used real-estate or long term investments. And they like to talk in 'net worth' terms because they don't even want to cash out to spend. Younger rich people either worked really hard for a long time, or sold their business at a prime time in the economy. The whole point is: without spending it, money is just a number sitting on a computer server somewhere in the world. Depreciation = spending = value. Investing = inflating a virtual number = no value until cashed out and then spent. Another issue is the condition of the world right now. I would say there's only about 3 or 4 more good years of business left. After that, it all goes bust. War, earthquakes, food/water shortages, meteors/asteroids, diseases, you name it. 2020 has only been the tip of the iceberg. Rather spend the money now, then wait 4 years until everything is 10x the price and isn't even available anymore.
I rarely comment on videos, but the things you said were so true and honest. These are things every new investor MUST know before he does anything. Best of luck with the goals you set for the future.
Consistency with going long term is the key. By early 2020, I had only $10k but it became 150k now exactly in a year. Even though I could have spent my incomes for buying stuff like who’s in my age, I saved it and put it in the stock market every two weeks instead. If you keep doing that, your portfolio will grow exponentially.
So true about saving, My Dad always said " its not what you make , its what you save" . He got married at age 17 with $36 bucks in his pocket. When he died his worth was 5.3 m
I've made a 177% return on my investment in the past month and a half, (and I only started investing 6 months ago) yes you can get rich in the stock market and it's not even that hard if you're dedicated to learning about companies.
@@ArcticZombie Tech companies, I've started buying and selling options that have been growing fast. I did a few Intel options a month ago and some Micron options. Other ones I want to do are: Microchip, AVGO, TSMC, ASML, etc (I do one month options on fast growing tech that has consistently went up for at least 6 months).
@@callidusvulpes5556 You had fallen into the same trap as everyone else. You invest everything when they are on a rise, especially steep one and sell it short when market adjusts itself.
Congratulations on the great return. only been investing for 3 months have done two bad trades and two good ones, the bad trades did not lose me money but the return for each was a couple of dollars. I am very happy with the two good trades i made, the profits went into ETF's and i enjoy the rest of my portfolio. but what makes me most happy was get of the hamster wheel of consumption. It is incredible how much shit you end up buying that you do not need. And seeing that money going into something that will grow just feels good.
@@erikrungemadsen2081 Yeah, I’ve set limits for myself, so that when I surpass them I promise that I will purchase some of the more luxury items I want (computer, new car, etc). I’m a bit of a minimalist, so my problem isn’t buying useless shit it’s just not buying stuff that I really want.
Hey everyone, three points I want to clarify:
1) by "rich," I am referring to the excessive disposable income flaunted in the trading advertisements (i.e. fast cars, private jets, etc.). I do believe long term (with the help of compounding) you can make a lot of money investing, hence my specification of "investments won't make you rich, probably...at least not in the short-term."
2) Regarding the wealth survey, I should have highlighted that these people got to where they are by saving AND investing. The point I was trying to highlight was that they didn't get there by investing ALONE (i.e. like the example, where you invest 10K once and never again) but rather used disciplined savings to fuel their investment returns.
3) I believe investments are VITAL and that over time they can earn you a lot of money when combined with a strong savings program. Sorry if the video came off as anti-investment; I promise you that it is not.
Sorry for any confusion, one of the problems with making an unscripted video!
The Plain Bagel I made over 7 figures in 4 years getting in before the Canadian MJ legalization, still in my 30’s. Mostly with Canopy Growth Corp, but others in the Canadian sector. Timing and knowledge about what your investing in was key. I’m sold completely out and invested in guaranteed investments for the time being, waiting for the incoming economic downturn.
I do agree that being disciplined and savings are very important BUT those savings need to be placed in the appropriate sectors during growth periods to maximize your time. I’m in my mid 30’s.
The secret to good investing is finding undervalued sectors or individual stocks.
Doesn’t saving count as an investment tho? I still agree with you tho
@@Luis-bk9jn Technically some people distinguish between saving as in keeping money in an account and investing as holding securities (i.e. money is either SPENT, SAVED or INVESTED). Making this video though I was using the terms interchangeably.
i agree with you. people who i know didn't like stock market, they said is rigged, is evil, is gambling they even claim i will lose all my money one day. i told them this isn't winning lottery this is investment in (1 to 10 years) this isn't turn you into millionaire. and yet my friend still claim that i gamble with my money and they refused to learn. but the irony is they go to casino and gamble their money which they claimed it's for fun, it's like donation (if i lose i pretented to be a donation to the casino after all i only lose couple hundred dollar how bad can it be?) people have "get rich quick" mind is really are something.
The reality is if you're not a rich person when you start investing you're barely going to have unrealized gains above inflation by the end your life. I mean that with no malice.
"If they had a strategy that earned above market returns, they'd sell it to a hedge fund, not you through a RUclips ad." Very true, many people need to hear this.
Just the other day, there was an ad of Investor Business Daily on Facebook offering its premium tools for $34 a month, and there was a comment: "if your tools are that good, why aren't you using them to make money instead of selling a monthly subscription?"
I was laughing so hard because it is true lol
No they won't sell it to a hedge fund. Only a moron would. They would start their own hedge fund instead.
@onee If they weren't already rich then selling it would be the most surefire way to get a lot of cash to start off with. THEN they could start their own fund
@@onee well it's not that if you sell the strategy to a hedge fund, you no longer will have that strategy. The hedge fund that buys the strategy will never share that strategy to anyone for obvious reasons. And teh only two people who know the strategy will be you and the hedge fund and you can still make money using that strategy. You will get 100 millions or even half a billion for giving a strategy that brings 'guaranteed' 30 % return. So you will actually be better off selling it to one hedge fund and using that money to continue investing with that strategy.
@@anirudhpokharel1489 There's one problem. No one will buy it without a proof, and when you manage the proof, it's already late as markets have moved on.
If you have perfect strategy, you use it, and technically only other way to profit would be to sell it to suckers who buy anything.
For the record I'm not defending those scammers, which is what most if not all of those marketeers are, just pointing out theoretical parspective to it.
There's only one way to get rich quick: Selling get rick quick schemes.
Also: dealing drugs.
@@Marks_Piano I don't know. In my very limited experience selling drugs, it was a lot more work than they made it sound like in DARE.
If everyone that watched this video gave a mere $5 dollars, I'd be a millionaire.
Yea i love rick quick. Smart guy always scheming
@@mariokarter13 where do I sign up?
Seriously good video, very well said!
you both are true heroes.
david h Hero's? Wow, you have a low bar.
Hey Graham! I'm not sure if you remember me from your channel! Can't believe I saw you here.
Wasnt expecting to find you 🤔
Graham Stephan there's a vast difference between investing and active trading he is mixing to two when they are different . The trading strategies is calling studying all weekend long for a year or two that's the strategy .
0:12
"2018 was a crazy year"
_Me in 2020:_
*LOL*
Ikt lol
Ikt lol
@@thejournalist8091 copy cat
@The Journalist copy cat
네
You know. I’ve never commented on a RUclips video before, but today that changes. Thanks for doing what you do. I’m completely new to the world of investment and I can already tell as a visual learner your channel is going to be my saving grace. You make this fun and easy. All while being up front, honest, offering data backed evidence, and your own level headed logic in a field that is so often shrouded in deceit or mystery. I wish you continued success!
You are a not salesman, you're just too honest.
This says a lot about your character.
Thank you, just subscribed.
Time To Reflect I just subscribed too
Honesty, ironically, makes the Greatest salesman.
@@mitchgilbert6894 True, but only if what you are trying to sell is actually worthwhile.
Mitch Gilbert honesty is one of the hallmarks of a great salesman but identifying needs and communication of an idea and the being able to articulate why it benefits them is essentially what sales people do. Requires active listening skills even to what’s not said. You could have the most honest person but that doesn’t automatically that person make sales
@TailsEngineUnited I never claimed a salesman should tell you every detail. But they should be transparent to the degree that is not cheating them. The same way you wouldn’t tell a girl you’re dating all the unnecessary details of your life. That’s not being honest that is just over sharing unnecessary details.
However there is a boundary that you should keep in that you don’t mislead or be dishonest with your customer and is not to be conflated with having to tell your customer unnecessary details. When you frame anything in sales or in life you put your best foot forward obviously but to be a salesman with integrity you still are honest.
If you feel that your industry has to cheat or mislead people to get sales perhaps it’s a dying business and/or illegitimate business model. Not everything is profitable in business. You would not accept a doctor telling you they push pills just to juice their customers of revenue instead of actually caring and fixing the root cause of their Heath problems would you, morally speaking. You’d tell them they should either change their business model or stop cheating people and killing and stealing their life with pills.
If you don’t value integrity then this conversation is a lost cause.
Finally, someone spoke the truth. Thank you. People need more of this and less of how to be a millionaire before 30 with $100.
sickens me how many brokerage companies try to pull this b.s
I don't usually comment on videos but this is really true. Especially in this world full of ads and instant gratification mentality.
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”
-Paul Samuelson
Michael Shadrene Caballes Or penny stocks
@@BIGC1o Lol😂😂😂😂
Paul Samuelson? The same Economist who thought USSR would surpass USA?
well said OP
“2018 was a crazy year”
😂😂 just wait 2 years
🤣🤣🤣🤣🤣
2020 says "hi" 🤣
That was literally prophesy!
Plain Bagel: "Investing won't make you rich. Probably."
Me: "Excuse you?"
Plain Bagel: "At least, not in the short term."
Me: "Ahhhh! Carry on."
GME
@@Nature22 to the moon
@@rashidkhan-xm4rl hell yeah lol
@@rashidkhan-xm4rl too late
How rich are you from investing, anime avatar?
“Spend $500 on my course and learn how to play in a zero/negative-sum game and become a millionaire like me. Oh, how did I make my money? Selling courses” -Every financial youtuber ever
10000000% agree
Every one is scammer on RUclips in the matter of courses specially Tai Lopez & Grant Cardone
some 19 year old is about to hit a million subs by showing his cars and house saying he did it all by e commerce lol
This is a rare channel. Most others will sell you dreams, but not this guy, he's telling the truth.
Meanwhile I’m bitcoin rich
Shit it aint gonna make you rich but it will make you a free man/woman if you start early.
Fitrian Hidayat
I want to like but it’s at 69
And now I’m depressed :D
@@burkles4456 don’t be, dreams will keep you learning, working.
i WILL be a millionaire someday, even if It costs me billions to get there
why ?
😹😹🤘
LMFAO..good one
"I got holes in my shoes
I got holes in my teeth
I got holes in my socks
I can't get no sleep
I'm trying to make a million"
-- Bon Scott, AC/DC
Your awesome
I appreciate the ACTUAL good faith you put in people. Protecting us against the "get rich quick schemes" Very much appreciated. Thank you for keeping me level headed.
It is the mark of an educated mind to be able to entertain a thought without accepting it -Aristotle
Just putting this up here in hopes that you will never be discouraged in posting these kinds of videos :) You are truly a genuine good person, I hope your videos like this will inspire a lot more people to have the same character and pureness like you or even greater :D
Clearly you already have inspired me :)
I feel your frustration. I’m new to this game and since watching videos like yours I’ve noticed a significant spike in “those” ads. It’s really easy to see how these aggressive tactics can manipulate people. Almost enough to explain the Lamborghini in the background... Your knowledge is helping those you reach. Don’t be disheartened.
Same here, every ad is about getting rich quick, one ad i seen yesterday was just some guy driving fast to everyplace he needed to go in his obviously rented Lamborghini
He used that lambo in every shot as if he wanted to get his money’s worth from the rental price 🤣
here's how to become a millionaire through investing: start with 2 million
Awesum Bear or invest $800 a month for 30 years
@@lumberjackbjh a good day trader
But you still should be rich enough to have that capital or income per month. So the claim for poor people that investing won't make rich probably is way more logical and understandable than a claim given by the RUclipsr who has many more subscribers for what reason.
ahahhaahhahh Nice one ,Bear
Haha ok warren
then 51 yrs later, the $1M you dreamt of when you were 15 would probably be only worth $500K.
Probably less
Inflation
that's why you always calculate the average inflation when you are planning for financial freedom or just good survival income during that age.
Still a hell of a lot better than the 0 plus hundreds of thousands of debt a lot of other people will have
@@JustATotalNerd Bruh u realise the avarage person in th US is networth is around 400k meaning after all that ur still the same as somone who worked at an insurance company
The Plain Bagel: "2018 was a crazy year"
2020: aM I a JoKE To yUo
😂😂😂
It's a long game. I started investing when I was 24 and currently have about half a million. Plenty of years until I retire. During that period, I've heard so many people tell me life is short, spend it, you might not live, what if you die, etc etc. Patience is the key (and patience saves you taxes too)
wow thats impressive, if you don’t mind, how much money did you start with and how old were you? I just want to have a similar amount
@Vivek Ghosh You asking me?
@Vivek Ghosh 20...
Puerto Rico can save you taxes too lmao
How much did you start with?
Nice dose of reality in a world of overselling. Always remember: if you invest $2 and suffer a 50% decline (=$1), you're portfolio must return 100% just to break even! Investing is like building muscle; slow and steady growth. Beware of the steroid shortcuts and all associated side effects.
I could sell my house, my car, my tv, my wife and invest it all.....and then get a regular full time job paying $11/hr and start leaving in a $700 / mnthly rent room and also live frugally so i can also invest some of my paycheck. Wait 10 yrs and i'm rich!!!!!!
love the analogy
@@thingshappen9199 DO IT
Jay Hay123 or you could look at that as an opportunity to dollar cost down
If you dip 50%, why keep holding to $0 ?? Learn to cut your losses.
Lots of these gurus take advantage of the lack of knowledge and despair that reigns the vast majority of their followers. They know how to coax and win over them to stack up fast throughout marketing techniques, good results and vivid speeches that turn these people to make emotion-driven decisions.
Yet, they will never show you the relative frequency of losers with respect to winners. They frame down the few ones whose success is merely decent and subsequently magnify it. That´s a shame. As you mentioned in the video, the game is not about getting rich quick or being a millionaire, but about setting up strategies to attain our financial goals. Thank you for being so real, Richard! Peace out.
Hence my suggestion, to make a video on why those day traders who use technical analysis mostly under perform compared to the index (S&P 500). I'm tired of the Tim Sykes and the likes coercing people into buying their programs. Buy SPY shares (*not official investment advice*) and sit on your ass.
@@HowMoneyWorks most do, but not everyone, its just because they are overtrading, and also overanalysing what they are buying, and also buys shitty companies.
SPY is gonna correct, and probably in for more downwards movement, better getting out of spy, dont wanna sit thru a correction, of course, it will get up again, but it could take YEARS, better of selling when you are in the green and buying in lower when its done correcting.
Just buying SPY shares is not that good of an advice either, maybe for the average person who dont care, and just want to put there money somewhere.
@@wanashthegash There are plenty of multimillionaires who do nothing more than invest steadily in index funds. Market timing doesn't work.
That was so sincere and well said. You are such a pure and wholesome person. I hope you a lot of people are grateful for what you do.
Thank you for this, really hammered the idea of there are no shortcuts without side effects. Love the well needed dose of honesty.
"admit you're a terrible investor". My favourite thing I've heard about investing recently. Great video and impartiality
TL,DR: Investing ALONE won't make you rich. It is the regular SAVING habit to increase your capital for INVESTING.
Good insight, Richard! Some people want to get rich by investing alone but don't want to be fiscally sound in their personal finances which in turn can end up any rich man broke.
Actually, your IKEA furniture is what inspires me to invest!
Don't trust people with expensive toys. Don't trust people that are better looking than you. Most importantly, don't trust the living.
I can't stop laughing, there was 5 ads all about the type of ads he said to avoid and not listen too 😂
Important vid. Great to keep it realistic for beginners!
I'm just getting started in investiments, i intend to do kind of what warren buffet did, like, Buy and hold for 15+ years.... do you think it's a good strategy for begginer?
Not just for beginners... Equity fund managers could learn from this video.
@@rinseco Warren Buffett gives a lot of advice for beginning investors. Google quotes by him, it's really helpful. Also I think he would say buy and hold SPY forever. That's actually his instructions for his estate for after he passes-- to not actively manage his money, just put it in SPY.
Very honest. I’m a subscriber here. 👍👍
@@rinseco Your arsolutrey right. Warren Buffett is a good example for all
9.8% can make you a millionaire it just takes decades.
And a higher initial investment. It takes money to make money. A 9.8% return will only make the rich richer. The poor, less poor.
I've never seen anyone say their investing strategy is putting aside 10 000, never saving anything again and then becoming rich off of that 10 000 in a few years. I'm sure foolish people like that exist but most people that get into investing know it takes time and consistent saving
millionaires in decades then mean nothing cuz inflation and lose of money worth
Your right man. What are you 30 years old? If you buy a $3000 car and get rid of that 300$ per month car payment, you could invest that $300 at 9.8% and have 1 million dollars when you retire. That's starting from 0$. If your 25 you'll have 1.6 million. This youtuber is wrong.
Stephen Cardone the point is you’re not getting 9.8% and if you did that’s before any of those monthly fees and the capital gains tax when you finally sell
You already have my respect, don't worry your IKEA furniture doesn't throw me off, it shows that you are not trying to act rich to get attention. And with that mentality you it makes me more confident that what you say is genuine and reliable information. Thank you for yourself :)
Yeah, I actually found this channel because I was looking for accurate academic investment and financial information and avoided those guys with fancy things and empty promises like the plague
Have you seen how expensive IKEA furniture is despite how fragile it is?
1111111111111111111121111122222222222222222222222222
22
2
"2018 was a crazy year"
Me: Laughs in 2020
Ok. This is one of those videos everyone getting into investing must watch. I am very thankful for watching this.
I dont particularly care about being rich, I just want to live a decent life without having to work a third of my time away for it (to make someone else rich)
Same here.
Really.. my financial goal is to be able to generate just enough passive income that covers my most basic bills so that I won't have to worry much about housing, car, and food.
THATS THE GOAL BOY
Finally someone said it. I just want enough for food, bills, cheap car and small home. Not these mansions with like 20 bedrooms and 15 bathrooms and a sports car with a rocket booster 😂
That's what riches mean
4:10 But man, a million from nothing is amazing even though it takes like 5 decades. Now imagine if you combine some income with that savings and how quick you can get that to a million.
thats is called proper financial planning for the old age.
I can barely invest where I live
@@FractalNoize Is all retirement funding in US entirely optional, or why is everyone so worried of their old age income there?
Living in Finland there's a slice of every paycheck you get going into retirement fund, whether you want it or not. So when I retire, assuming I keep my house and job, I should be able to live at least decently without any optional savings from my part.
Sure I do save money, but not for old age. I don't think I will be able to enjoy much of riches at 70... Not at least if I don't change drastically my lifestyle in next 20 years.
@@jhutt8002 don't know much about the US but in Italy there's a mandatory retirement fund too, the problem is that it won't be enough if you want to do exciting stuff, travel and other. The key is understanding how much you are willing to sacrifice for your retirement, you don't want to live like a cockroach the majority of your life or youth just to have money when you are 70 but you don't also want to spend your last days in a miserable way
@@LucaPizzoplus I must say I've never thought of that.
My view of perfect retirement would be to just stay at home doing all those fun hobbies I never have time now: Play and compose music, hunt, write a book, play games, fix cars, watch all those movies on my list and listen records I've meant to... etc...
I don't need money for retirement. Just enough to pay food, house, and few bits and parts now and then to maintenance my stuff.
Look dude … I've been investing for 30+ years. It works. It takes time but it works. But to get things started, you must live beneath your means.
Gig em
I think he just worded the title very poorly in an attempt to get views. He knows investing works but what he's trying to say is that investing won't give you the MTV Cribs lifestyle unless you make a lot of money and put it to work.
Yeah that’s what he said
You need capital...
But that’s not at all what he said, it’s true you can definitely get lucky and do so well that you retire at 30, but that’s most likely not gonna happen and that’s what he said, if you do it right you’ll still make some money like the example he gave you invest $1,000 and make a 100% return... that’s great but $1,000 profit doesn’t make you rich, it works and it’s something everyone should learn about and try
“I turned $12,415 into 7 figures.”
Now ask me where I am putting the decimal point!
Your intro saying "2018 was a crazy year, with things like bitcoin, the weed stock rally, tech stock rally" can be used again here in 2021!!
Thk man im 17 and I've been learning about stocks through your video's i really like your content 👍
Start early, invest in index funds through a tax-exempt account (Roth IRA or 401k if you're in the US). When you're retirement age you'll be glad you did.
This man speaks the hard truth! Keep up the good work!
Your honesty is priceless. Everyone should watch this video. Loved it!
Damn im never gonna be rich, i guess its time to finally sell drugs
Ezm ......lol.....
I m in , ..lol
Try trading bitcoins !!
@Vivek Ghosh are they good buyers??
Buy Cannabis Stock lolol
I got into investing in stocks in 2018 at the age of 18. I started with only a few hundred dollars and everything stated in this video has been nearly 100% accurate with my own experience. I became naive with the tech stock rally and thought they could never have a bad week. Then I sold when the market tumbled in Nov. 2018 and cashed out at a loss because I needed the money. I spent 2 years staying away from the market and decided to give it another shot. Now with some lessons to learn from and a slightly better understanding of finance through this channel and through my university courses. You have no idea how badly I needed to watch a video like this and I didn’t even know I needed it.
You’re doing a great service to people who watch this video. You’ll probably save hundreds of people from being scammed by those scammy “I will teach you to be rich” programs and people from being burned and losing money in the stock market just because the mass media keep telling us that we can become rich from investing so we jump head first into stock investing when in fact investing is just to maintain (from inflation) or probably increase just slightly one’s wealth. Love this kind of videos and keep up the great work! 👍🏻🙌🏻
Compound interest is amazing! If you invested your money at 7% per year, you would double your initial investment every 10 years.
I agree, it is amazing. But it will never make you rich, which is exactly the point of this video. Then, of course, it depends a lot on what you define as "being rich". If you take his example: you invest 10k today. You say that with 7%, every 10 years you double your investment, which is correct (slightly less if you do the math). So given these numbers, after 10 years you earn 10k extra. It is amazing because it is "free" money, but I think we all agree that 10k more in your bank account after 10 year has nothing to do with the idea of "getting rich". Plus you need to consider inflation, which is usually 2%, meaning 10k more would be actually worth 8.33k in 10 years (remember that inflation compounds too). Then if you want to be millionaire out of your 10k investment, you will need 95 years (considering inflation). Good luck with that! Finally: we are assuming you constantly get 7% every year for 95 years, which is impossible. Several years you are going to lose money because that is how the market works, so it is likely to require more than 95 years in reality. In addition to that, inflation is very likely to be much higher than 2%. The average annual inflation rate in US over the last 20 years was 3.22%. Bottom line: you are more likely to die much before you make 1 million.
I love this video because it forces you to think, be a bit realistic and realize how many lies and scams are written and told around. All these "get rich quick" schemes work only to the seller, who gets money from books, online courses, youtube videos and other marketing tools. If somebody has a magic recipe to get rich quick, I bet he will spent all his time to use it for himself, rather than using up his time to make videos, prepare courses, writing books, etc. I agree with every point of this video, which is summarized by the title: "Investing won't make you rich (probably)". The word "probably" makes sense because you have a very little chance to be extremely lucky and make some real money out of an investment, but it is like winning a lottery. The reality is that you won't. You want to be rich? Do as he said: save! The more you save, the more you can built wealth. Then you slowly invest part of your saving (expecting normal market-like returns) and you slowly built wealth. That's recipe. You are not going to be rich tomorrow, but if you focus more on saving (meaning increasing your incomes and decreasing your expenses), than you are very likely to make one million in one or more decades.
Great video by the way.
The “rule of 72” - Divide the interest rate into 72 and the answer will tell you how quickly your money will double. IE: 10% interest rate into 72, your money will double every 7.2 years.
@@Block_BB well that more of assumes you never put anymore money in it takes like 40-50 years but you can make over a million just takes long
@@ChimpRevolution I agree. My point is that 50, 40 or even 30 years is not a "get rich quick" recipe, but it is what honestly takes to built wealth and what we should focus on. Part of the real recipe, as you write, is to costantly invest money, ideally every month. But first you need to save every month :)
@@Block_BB yeah of course I understand it's not a get rich quick. I currently have a emergency fund setup and about 1000 dollars in my brokerage account however every month I add $100 to it plus if I'm under budget I invest what I saved
the video everyone should watch. you had my attention, now you have my respect, sir.
The moment you said 'investments won't make you rich' I got an add from a man holding $10,000 telling me he could make me rich investing.
Who could possibly say who is right or not 😅
One of the best and honest videos on investing I’ve seen in awhile. Thank you sir.
Happy Friday everyone! Interested to see if anyone has ever tried one of the mentioned trading programs; what was your experience if you have? Also curious if people agree or disagree with any of my points.
I agree, i am saving 10% of my total income after taxes no matter what happens or what wishes i might have.
I am happy with anything that is higher than 4% profit anyday.
Investing is just like a savings Account for me, 3% is meh - 4% good and 5% i am happy.
And investing wont replace ur work, if you are a average Joe inregards to ur capital.
My believes, but hey I am young and might naive - but this way i am happy and stay sane.
Bless you for telling the real hard truths. Honesty is the best thing you can give people. People ought to be instantly suspicious of any get-rich-quick scheme salesman.
Hi, I really like your videos.
I keep hearing about , this strategy where you invest let's say 300 $ every month in index funds and you never sell. I have read this strategy in a some books. What you think about it ?. I hope my explanation is good enough. Keep up with the good work
@@BoutiquedasLampadas Excellent. If you follow this strategy (putting away as much as you can), you'll be more than satisfied in 30 years' time. Don't forget to re-invest your dividends.. that's where the majority of long term growth in your Portfolio will come from.
You sound like Martin shkrelli. RUclips channel on investment.
I'm glad an instagrammer brought me to this vid. It's well-made and I enjoyed it. I pretty much treat my portfolio like an aggressive savings account with daily deposits. The act of putting money in for me is more important than the returns I'm getting. I'd rather gain 1% than spend my money on dumb items
Feel like he’s talking to me, “the little guy”....and doing a good job of it. He’s helping me get a good foundation in the basics of the financial markets and the inner workings . This episode certainly laid the correct “expectation mindset” to us 401k participants.... i.e. we’re not day traders! But that doesn’t stop us from learning as much as we can.
Excellent and straight forward video. Thank you for making it. You helped push my current investing ideas back to reality. I'm 53 (2021), and wish I had invested when I was younger. Unfortunately for me, it's a bit too late. I'm not broke. Just wish I had more to do any and everything beyond the basics.
Younger viewers, invest safely, but do it NOW, and don't expect $$$$$ in just a couple of years. Be patient.
I love how you approach things with statistics and facts/informations
Not just baseless assumptions and the need to grab attentions
I can say this is one of the best video on investing
Very surprised that your channel has only 30k subscribers. What you say is true for majority of investors and people always think that they can out perform the market. Keep up your good work and continue educating people!
Great video. I think it’s about time someone talked about this. I view investing as a way to make my money growing for the future but realistically I know I won’t get rich off of it. One more thing I view saving money and investing as intertwined. I can’t invest if I do t save my money.
Well that bitcoin example slapped him in the face😂
Excellent video. True gem. Congratulations for opening up these thoughts. They might prevent some people from going through financial hardships or "expectation hangovers".
I gave you a thumbs up because I appreciate the information. People need to realize that ther is no "secret" to getting wealthy. I will also say that just because you "may lose", doesn't mean you shouldn't invest.
Investing won't guarantee you'll be rich right now, but not investing will most assuredly guarantee you'll be poor in the end.
Make a video on how day traders usually do worse than the S&P500 does passively (fees & overconfidence)
I love how he is talking about those RUclips ads that promise you will get rich with their simple strategy, and in the middle of the video I GOT ONE OF THOSE ADS 🤣
Very good of you to educate the masses so they don't get scammed as easily, thank you sir you're doing an amazing job!
people save & dont invest because their simply not educated enough.
It's ironic how you use "their" instead of "they're". So you said some people weren't educated enough?
SGA Hobbyists lol
@@davidmella1174 toxic bro
David Mella not everyones main language is english
@@davidmella1174 lmao
Investing is for Long term and passive income . Hard to get rich by investing 😂
@Olivia P realized gains. Yes, welcome to a higher bracket. Give us more money.
Monthly fees, capital gains tax, inflation, making stupid decisions and going backwards, people only focus on the financial gains that are not as quick as you’d hope but never on what it’s going to cost them in the long run
This Bitcoin comment did not age well
Lol
exactly what I thought lmao
And gme made some broke people some coins lol
It aged fine, it's still a good example of anchoring bias whether it ended up happening or not.
Man, you are the best. If you look up investing on youtube a bunch of ads come up. Thank you.
I really understand your point, tried before to follow someone with his unique way of investing and lost some money, you said that if someone can sell his strategy to a hedge fund he would do that and not trying to sell it to everyone else with a youtube add, that is obviously correct and I didn't think about it until now.
thanks - just subscribed to your channel.
Bitcoin bag holder comment didn’t age well😂
Yet.
@@IrelandVonVicious checking in 2 months later when 1 btc is in the 50-60K range
@@yashbhatt6720 It was same price when I made the comment.
Checking in 3 months later when 1 btc is 36,500
China is messing with bitcoin saying they'll remove it from circulation and regulate it to make it a non currency, to be obsolete.
Investment doesn't make you rich, unless you're a tesla investor
For the most part, investments supplement your income and then can replace your income in the future. Won't be rich but won't have to work later. Hence, retirement.
You need cash flow, start a business and scale it then invest
I appreciate your honesty, May The Most High bless you.
I went to school for finance and have experience with multiple investment types and its refreshing to see someone give authentic advice with regards to investing. I try to caution people that investing is not a get rich quick scheme, its technically a savings strategy. Its good to see real financial advice for one.
Loved it! This is the exact same argument that I have with my friends that are uneducated in finance
Bitcoin "Anchoring" ... That aged well.
... So you're telling me there's a chance
Ha ha that's what I heard !! : )
I understand that many people come at this with the wrong mentality and that they need to be warned.. BUT, investing consistently and learning to become excited to invest $500 because it'll amplify over the next decennia, is something that people should learn and is very real.
Great explanation. A lot of us have heard these pints before but it is always good to have a reminder to not allow your expectations and dreaming of hitting it big to get in the way of making smart decisions. You also said it very well.
Thank you
Great video. More people need to see this video. Sharing to everyone I know that invests.
why someone would dislike this video is just beyond me!
Some people don't like to hear about the truth, they want to live in their fantasy.
Agree.
They’ve already started investing slowly and don’t want to admit that they will only be getting 3/4% and spend a lot of it on fees and will never be rich
I am really happy watching your videos although they have a sad ending because of the reality of such investments is mostly sad. Thank you for being there for the viewers like me who love to experience the reality no matter what it is. 💐🙏🏻👍🏻
Very well done, you make a number of good points. I am more than tired of "Click below to get my top 3 stocks." When you do that, they ask for your email, and then they and their cohorts bombard you with all kinds of get rich schemes, etc. I spent a solid hour today "unsubscribing" from various and sundry emails related to investing. Think I'll keep watching your videos. BTW, I'm a brand new subscriber after watching only two of your videos. You're very honest and open, good qualities to have and to share. Keep up the good work.
John (in Texas)
I like honest people and I hate those scam trading ads. You're now on my shortlist of people I like.
I think that the most Important thing to do is to make sure that a good percentage of your income goes into your investments every month or year in a SIP manner
Ok, 10000 will take you 51 years to reach a million. But you missed one single point here. People keep adding more money into the 10k every month.. thousands per year.. and this way they will reach their goal way faster!
I made a comment exactly on that. 10k only yeah 51 years but 10k every every year in 50 years that's 500,000 alone in invested income added to compounding interest at 9% with 3% appreciation annually you will have a 6 figure dividend in 50 years. With nearly 2 million paid out in dividends alone by that time. And that's only adding 10k per year if you were to get into a position to add 15 or 20k annually then goodness.and that's with no other assets like owning a home or buying any rentals to add to your net worth.
This is my second time watching this. It autoplayed today, after I got pretty excited/emotional looking at stocks over the past couple days. I think I should watch this every couple of months or so to keep me sober.
Really love hearing you call out the shitty ads promising financial freedom / trading strategies that make a lot of money and then get multiple ads saying the same exact thing. Spot on!
Also, I would LOVE you to talk about how we should "rate" analysts. Too many people get by getting on programs saying "Dow 100k!!!" or "$500 barrel oil!" only to never see those things come to fruition.
The penalty for being wrong as a financial investor is you lose money. The penalty for being wrong as an economist is a nobel prize.
Any point on inflation? Saving is great, in fact, it's the starting point but our savings sitting somewhere are worth less and less, year after year...
unless u minimise it with term deposits, or short term bond savings while keeping track on Inflation and Reserve Repo Rates.
You’re good man! More young people need to have financial education:)
It's buying assets that generate cash flow that makes you rich!
"borrowing" assets at age 20, and living off spare cash flow till age 50+ with 3x more debt than equity, and hoping rental prices don't plummet if there is an economic emigration. All it takes it one big californian earthquake, and suddenly your cashflow goes negative, along with foreclosures. Mortgages are a massive cash pit all the way down to bankruptcy, if the economy doesn't go your way. Big risk, big reward - when it works, that is. If anyone can learn anything from 2020, it ain't a prime time to invest or borrow. Can't go wrong with good old fashioned hard work though.
@@NoOne-jy6mc Or you could get fired and fast tracked to the bottom. Assets feed you when that happens.
@@NoOne-jy6mc this is the worst possible way to think. instead of investing your money is literally being depreciated just look at vgt or qqq etfs and see how much money your missing out on
@@cantu7614 but why tie up 100k savings for a year to generate 7k (providing the world doesn't suddenly go bust), when you can work for a year to make 100k. Scenario 1 you end up with 107k available to spend. Scenario 2 you end up with 200k available to spend. Same thing applies over 10 years. You get very little reward for tieing up your money just so you can't spend it. What good is generating money if you can't spend it until 10, 20, 30 years later. Nobody can even spend that much in one go anyway, and near the end of their lifetime in their 50's or later is generally when they can make a decision to cash out some of their investments. And why would they even do it then anyway, because obviously they have learned to live their whole life without spending most of the money they earn, so why change habits and start splurging in their 50's for no reason. You basically end up with both people working the same amount of time in their life, yet one who invests all of their hard earned money without spending most of it, versus someone who spends most of their hard earned money and reaps the benefits of that money all along the way, with the other one only splurging large amounts after their 50's and probably won't do that anyway when they get there. Look at any rich person. They are usually over 50, if they used real-estate or long term investments. And they like to talk in 'net worth' terms because they don't even want to cash out to spend. Younger rich people either worked really hard for a long time, or sold their business at a prime time in the economy. The whole point is: without spending it, money is just a number sitting on a computer server somewhere in the world. Depreciation = spending = value. Investing = inflating a virtual number = no value until cashed out and then spent. Another issue is the condition of the world right now. I would say there's only about 3 or 4 more good years of business left. After that, it all goes bust. War, earthquakes, food/water shortages, meteors/asteroids, diseases, you name it. 2020 has only been the tip of the iceberg. Rather spend the money now, then wait 4 years until everything is 10x the price and isn't even available anymore.
@@CodeineRadick entrepreneurs can't get fired
I rarely comment on videos, but the things you said were so true and honest. These are things every new investor MUST know before he does anything. Best of luck with the goals you set for the future.
Well said!! I was also getting frustrated with all this quick money advertising!!
Consistency with going long term is the key. By early 2020, I had only $10k but it became 150k now exactly in a year. Even though I could have spent my incomes for buying stuff like who’s in my age, I saved it and put it in the stock market every two weeks instead. If you keep doing that, your portfolio will grow exponentially.
What stocks did you invest in?
So true about saving, My Dad always said " its not what you make , its what you save" . He got married at age 17 with $36 bucks in his pocket. When he died his worth was 5.3 m
Mario B. Did he marry a millionaire?
You can’t take it with you, he should have spent it
So he never got to spend that money
I've made a 177% return on my investment in the past month and a half, (and I only started investing 6 months ago) yes you can get rich in the stock market and it's not even that hard if you're dedicated to learning about companies.
@@ArcticZombie Tech companies, I've started buying and selling options that have been growing fast. I did a few Intel options a month ago and some Micron options. Other ones I want to do are: Microchip, AVGO, TSMC, ASML, etc (I do one month options on fast growing tech that has consistently went up for at least 6 months).
@@callidusvulpes5556 You had fallen into the same trap as everyone else. You invest everything when they are on a rise, especially steep one and sell it short when market adjusts itself.
Congratulations on the great return. only been investing for 3 months have done two bad trades and two good ones, the bad trades did not lose me money but the return for each was a couple of dollars. I am very happy with the two good trades i made, the profits went into ETF's and i enjoy the rest of my portfolio. but what makes me most happy was get of the hamster wheel of consumption. It is incredible how much shit you end up buying that you do not need. And seeing that money going into something that will grow just feels good.
@@erikrungemadsen2081 Yeah, I’ve set limits for myself, so that when I surpass them I promise that I will purchase some of the more luxury items I want (computer, new car, etc). I’m a bit of a minimalist, so my problem isn’t buying useless shit it’s just not buying stuff that I really want.
This honesty is quite refreshing. Watching this, I will be lowering my expectations.
If you don't save, you will have nothing to invest with.