Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
One lesson I've learned from millionaires is to always put your money to work, no matter how small. Even investing $100 per month can compound to tremendous wealth over decades. The key is to keep going!
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $90k into $54,000 in annual dividends-a significant milestone for me today.
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $150K-worth stock portfolio from decline, but haven't figured which way to go.
Very difficult indeed, but when the going gets tough, the tough gets going. You have to learn and handle finances properly. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows. Don't go for penny stocks.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
That's awesome! Diversifying your 350K portfolio with the help of an investment coach has really paid off. Making over $730k in net profit from high dividend yield stocks, ETFs, and bonds is quite impressive. Your investment strategy seems to be working wonders for you!
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I do 40/20/40. 40 needs, 20 wants, 40 invested/cash savings. I am single, I live in a 1 bedroom in a Midwest suburb. My apartment is the perfect size, I cook at home and meal prep with rice or pasta, veggies plus a fish or chick (beef tacos occasionally), and once a month I might order pizza. With a small apartment my heating and cooling is low. I have a paid for car I try to keep in the best condition (15 years so far.) I put a lot into saving and investments because I am 46 and I want to pack in as much as I can now so it can compound and reach financial independents by 60 and at that point I can choose to stay at my current jobs (if I am still here) or I can try something new without the financial worry. I'm also a homebody so If I do spend it is on my hobbies; gaming, drawing, playing guitar. I can see this switching to 60/30/10 as I get closer to 60.
Newbies need to learn the ropes, know how much risk they can handle and diversify their portfolio. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your funds.
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.
My CFA ’Annette Christine Conte’ , 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'm new to BTC/Cryto investment and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
Mrs Telisha Grover is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
She's also my portfolio manager!! though i started with as low as $5,00 actually because it was my fourth time and it was successful, she's is a great personality in the state.
From $10K to $62K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
A big problem people have with budgeting their "needs" vs their "wants" is how they handle food. Eating out or buying prepared foods is a significant way to blow up your budget if you are lower income. I got in the habit of separating "groceries" from "entertainment" and putting any prepared foods including from the grocery store in the entertainment category and my habits changes very quickly.
Investment is the best money manager, and nothing beats the involvement of an expert in any trade or investment, selfishness and greed held many back and they ended up suffering huge losses, and the crypto market- Currencies are no exception.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
We are doing much of this! Have Rental Houses for our Fixed Income portion! Wife’s 401K is in the S&P500! (We have been doing ROTH for a number of years! Also been Maxing out Contributions roof a while now!
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
To keep things simple, my spouse and I simply follow the 4% rule. Save enough money so that, when you retire, 4% of your entire savings will cover your living expenses. For instance, if you have $1 million, you can take out $40k annually (with most investments paying dividends of roughly half that amount). It's a straightforward guideline, and we only calculate what we save for ourselves-we don't bother figuring out things like Social Security. If we require that, we view it as "extra" rather than absolutely necessary.
i’ve been retired for 7 plus years and my wife has been retired for 5 plus years. So far we haven't used any of our $2.2m retirment money. We are having no problems living on just our SS. Being debt free is what makes that happen.
51 years old. I have $295k in my Fidelity retirement account. I cranked my contributions up to 35%. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content.
Find financial advisors like Becky Lou Gordon who can assist you. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Stewart.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
Tightened my belt as far as I can where I spend about 75% on needs 10% on discretionary entertainment 15% on investment and savings. Family of 7 single income.
10% is too low, at least by Asian Americans standards. My parents saved 50%. My wife and I, with 3 kids, still save 30%. There are plenty of ways to save more. Before you get married, split a 3 or 4 bedroom apartment with 3 friends (you know, like during college). Marry someone frugal, then all the sudden you have 2x incomes and only about 1.2x the cost.
Investing 10% of your income will get you nowhere unless you have 40 years ahead of you. My ratio is 40% needs, 10% wants and 50% saving and investing. With a more aggressive investing strategy, I'll quickly increase my income and will slowly lower the ratio as I see fit.
Currently doing 60-15-25 as a 22 y/o making 50k… however I am about to start aggressively paying off my car loan to free up more money in the long term for saving/investing. Also just graduated college so hoping to secure a higher paying job with benefits soon.
So frustrating that every time I come to your comment section it is (for me at least) basically only the spam bots peddling scam investors. Love your work Humphrey!
Rules like 50/30/20 are a bit, too simple: iMo needs are needs. You can’t reduce them. Income is a multi-year project, so can’t be manipulated much assuming you work full time at the edge of your earning capabilities. So it’s basically savings vs discretionary spending. You set a savings goal, then try to keep your spending under control.
Another great video. Interesting to see how much inflation has changed the way we live our daily lives. Also, is it cold in San Francisco? Hoodie in July? 😂. Looking forward to the next video Humphrey.
I find it crazy to add credit card debt to "NEEDS". Credit card debt is most likely from over spending in the "WANTS"! only issue in the 50/30/20 is debt.... Instead of 60/30/10, you should go over the 50/50/0 rule. 50% TO NEEDS, 50% TO DEBT, 0% FUN...
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
Proper research, good analysis and luck is what you need to make profit in this constant market decline. It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research
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, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Would you mind doing a video talking about trad 401k vs Roth 401k and when to do which? Thanks. It's one of those things that nobody really discusses in great detail and I'd appreciate your take.
Check out the Money guy show they have discussed this. Generally if you are expecting to be in a higher tax bracket than you are now in retirement then Roth is more favorable as you are paying less taxes. Don’t take my advice as I am some guy on internet check money guy show out
The short answer is it’s a guess of whether your marginal tax bracket in retirement will be higher/lower than your marginal tax bracket today. If it’s the same, there’s no difference* *caveat that using Roth allows you to contribute more because the limit is applied to the post-tax amount and is the same as the trad pre-tax limit
@@TheElsMan thanks but I already know the short, basic answer, and honestly it is not really a helpful one since nobody knows what the tax rate will be in the future, near or far.
@@notNaB2024You should have a general idea of wether your salary will increase over the next 5-10 years. If you are young, a Roth is almost always better. Particularly if you are an effective saver
@@notNaB2024 🤷🏻♂️ yeah it’s true. And Humphrey doesn’t either. I just try to take advantage of the extra contribution ability of Roth and let my employer match (which is always traditional) balance it out a bit.
Using 8% rate of return, but not consider inflation doesn't work. Either you reduce the rate of return by inflation or you need to adjust the 4% target with inflation. So 10% saving will not get you to your FI number in your example.
A reason 50/30/20 is difficult to achieve is because a lot of people put their cars as a „need“. Put that in your wants category and you‘re much more likely to hit the buckets. You will of course have a lot less to spend in your wants, but as soon as you think of it like that you’ll be a lot more motivated to to downgrade your vehicle to something that makes sense for your budget. I’m not saying you shouldn’t drive a car, but realise, transportation is a need, a 2021 Lexus (or your equivalent) is a want.
It would be great to see how inflation is considered in the compound growth calculations. Sadly I can't see $30k p.a. being sufficient in 2057 when I retire, so the 4% p.a. draw down from the $1.3m wouldn't be sufficient. How do we address this critical assumption?
This. People underestimate the importance of physical fitness today. Myself included. At 43 I'm not in the best shape, but I'm in better shape than most 20somethings because I'm in the gym at least 4 hours a week.
Hey, small question. I stuff a bit of money away every month to the side so I can buy "medium" purchases like a new Phone, Holidays, Gifts, and so on.... Does that qualify as "Saving" or does that belong to the "Wants" category? It is spend at the end for stuff i WANT but in theory i SAVE it of a later date to buy things I want/need so I don't have to use credit or something like that. Thanks for the explenation and keep up your great work. Really enjoy your content and the way you describe this stuff, even tho it's a little different in Switzerland, it gives a good understanding about the whole stuff.
What about accounting for inflation when we retire? With a small inflation rate of 2% $10k of today's money would have the The spending power of around $15k 20 years from now. I've watched a lot of your videos and haven't seen any income adjustment for inflation. I'd love to hear your insight on how we can attempt to account for this as we get older.
I was thinking the same. I usually calculate my retirement income with the 4% rule and then divide by 2 due to inflation and that gives me a more realistic number I think. But I also have 35 years before retirement so I’m sure there is a better equation that takes years before retirement into account
I appreciate you highlighting the post-tax income or net income, rather than gross. Many finfluencers forget to mention that and in California, a 100k gross income could actually be 60-70k net income after taxes and insurance deductions!
Lets get one thing straight. Eating out. No matter where. Is and always has been a luxury. And we really should still stick to the 50/30/20 rule. Its not dead. San Francisco & ny have never been affordable. If it needs to change then 60/20/20 or 60/25/15.
Are pet food and supplies needs or wants? are gifts for loved ones needs or wants? Are snacks, sweets, or seltzers needs or wants? Are supplements (not prescribed medication) needs or wants? ugh
Better not to pay rent in retirement. Better to own a home. Not necessarily rent free but property taxes even at 12k a year is only 1k per month. House insurance even at an outrageous 5k per year would only be $600 per month. Watch the HOA fees too.
What you contribute to the 401k counts toward the 10%. Don’t include the match. If your employer matches 5%, then you should contribute 10%, employer contributes 5%, for a total of 15%. I only say this because 10% is too low. If you follow The Money Guy’s 25% rule and you make less than $100k, then you can include the match
Felt assuring to hear this with the way prices are now.. esp after getting our first mortgage. Love the way you break things down, man. Thanks for your content and insight!
What are the Roth IRA equivalent tax advantaged accounts in Asia? I'm from the Philippines, and I don't know where to find out similar accounts to that. Can you provide a list of such similar accounts for your Asian viewers please?
10% of after tax income towards savings is too small IMHO. Realistically, you need about 20-30% consistently if you want to live independently from social security etc. It's best to assume that SS won't exist or probably dramatically cut back.
I have a 401k with just over 100k. I have 40k in a Roth 401k and the rest is traditional and a match. How could I separate them bc my work puts them all in one account
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.
Welcome to this new video! Check out my newsletter, free to signup ➭ humpdays.substack.com
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Her name is. 'Lucinda Margaret Crist’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
One lesson I've learned from millionaires is to always put your money to work, no matter how small. Even investing $100 per month can compound to tremendous wealth over decades. The key is to keep going!
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in investing. Just choose top-notch ETFs and partner with a financial advisor like I did. I turned $90k into $54,000 in annual dividends-a significant milestone for me today.
How can I consult your advisor? Looking to get some help on retirement planning and portfolio management.
"Jessica Lee Horst" is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email and I hope I'm able to connect with her.
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $150K-worth stock portfolio from decline, but haven't figured which way to go.
Very difficult indeed, but when the going gets tough, the tough gets going. You have to learn and handle finances properly. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows. Don't go for penny stocks.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
I could really use the expertise of this advsors.
KATHLEEN CHERYL CONSTANTZ is a hot topic even among the finance elite in America. She's just a search away(on the net)
Watched Kathleen Constantz on Bloomberg finance summit 4 years ago and her presentation was impressive!
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
That's awesome! Diversifying your 350K portfolio with the help of an investment coach has really paid off. Making over $730k in net profit from high dividend yield stocks, ETFs, and bonds is quite impressive. Your investment strategy seems to be working wonders for you!
I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Email me. I can help you maximize growth
I do 40/20/40. 40 needs, 20 wants, 40 invested/cash savings. I am single, I live in a 1 bedroom in a Midwest suburb. My apartment is the perfect size, I cook at home and meal prep with rice or pasta, veggies plus a fish or chick (beef tacos occasionally), and once a month I might order pizza. With a small apartment my heating and cooling is low. I have a paid for car I try to keep in the best condition (15 years so far.) I put a lot into saving and investments because I am 46 and I want to pack in as much as I can now so it can compound and reach financial independents by 60 and at that point I can choose to stay at my current jobs (if I am still here) or I can try something new without the financial worry. I'm also a homebody so If I do spend it is on my hobbies; gaming, drawing, playing guitar. I can see this switching to 60/30/10 as I get closer to 60.
Clearly Kardden was a right choice. Hope to learn more from you this is pure knowledge
Scam don’t buy it guys
@@sumitmondal6021 stop scamming
Newbies need to learn the ropes, know how much risk they can handle and diversify their portfolio. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your funds.
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?
My CFA ’Annette Christine Conte’ , 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.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
I'm new to BTC/Cryto investment and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable.
Mrs Telisha Grover is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
MrsTelisha Grover, has really helped my life and entire family during last year. may the good lord inspire you more .
She's also my portfolio manager!! though i started with as low as $5,00 actually because it was my fourth time and it was successful, she's is a great personality in the state.
From $10K to $62K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
A big problem people have with budgeting their "needs" vs their "wants" is how they handle food. Eating out or buying prepared foods is a significant way to blow up your budget if you are lower income. I got in the habit of separating "groceries" from "entertainment" and putting any prepared foods including from the grocery store in the entertainment category and my habits changes very quickly.
All guys stacking Kardden Token before next bull are smart apes for sure
Investment is the best money manager, and nothing beats the involvement of an expert in any trade or investment, selfishness and greed held many back and they ended up suffering huge losses, and the crypto market- Currencies are no exception.
I agree because most people I know complain about losses due to poor market analysis and recent bear market situations
Which professional would you recommend? I'm new to the world of cryptocurrency and I really need an expert to guide me.
I work with Christopher Scott after meeting him in an interview on CNBC.
He's on Instagram***
CHRISTOPHER SCOTT TRADING
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
We are doing much of this!
Have Rental Houses for our Fixed Income portion!
Wife’s 401K is in the S&P500!
(We have been doing ROTH for a number of years!
Also been Maxing out Contributions roof a while now!
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement, I'm 55.
Those sound like great picks! consider financial advisory so you don’t keep switching it up, top 3 payers for the month were $OHI, $KMI, and $EDP... not bad for 350k
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 14.3%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an advisor.
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” 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.
The Kardden KRN will overtake doge and SHIB so easy
Spam
Scam guys don’t buy
To keep things simple, my spouse and I simply follow the 4% rule. Save enough money so that, when you retire, 4% of your entire savings will cover your living expenses. For instance, if you have $1 million, you can take out $40k annually (with most investments paying dividends of roughly half that amount).
It's a straightforward guideline, and we only calculate what we save for ourselves-we don't bother figuring out things like Social Security. If we require that, we view it as "extra" rather than absolutely necessary.
i’ve been retired for 7 plus years and my wife has been retired for 5 plus years. So far we haven't used any of our $2.2m retirment money. We are having no problems living on just our SS. Being debt free is what makes that happen.
51 years old. I have $295k in my Fidelity retirement account. I cranked my contributions up to 35%. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor! Thanks for the video. Great content.
That is amazing!The consultants' expertise would be greatly appreciated.
Find financial advisors like Becky Lou Gordon who can assist you. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Looked up her name and her website popped up immediately, interesting stuff so far, about to schedule a session with her.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Stewart.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Katherine Stewart too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
Tightened my belt as far as I can where I spend about 75% on needs 10% on discretionary entertainment 15% on investment and savings. Family of 7 single income.
I am retiring at 45. Managing your money the right way will help you reach your goals so fast.
10% is too low, at least by Asian Americans standards. My parents saved 50%. My wife and I, with 3 kids, still save 30%. There are plenty of ways to save more. Before you get married, split a 3 or 4 bedroom apartment with 3 friends (you know, like during college). Marry someone frugal, then all the sudden you have 2x incomes and only about 1.2x the cost.
@@xiphoid2011 does the 30% savings include investments?
Investing 10% of your income will get you nowhere unless you have 40 years ahead of you. My ratio is 40% needs, 10% wants and 50% saving and investing. With a more aggressive investing strategy, I'll quickly increase my income and will slowly lower the ratio as I see fit.
Currently doing 60-15-25 as a 22 y/o making 50k… however I am about to start aggressively paying off my car loan to free up more money in the long term for saving/investing. Also just graduated college so hoping to secure a higher paying job with benefits soon.
So frustrating that every time I come to your comment section it is (for me at least) basically only the spam bots peddling scam investors. Love your work Humphrey!
This was a really well laid out roadmap.
50 saving/investing, 30 needs, 20 wants
Love from Australia...!!! Keep it up mate...
Rules like 50/30/20 are a bit, too simple:
iMo needs are needs. You can’t reduce them.
Income is a multi-year project, so can’t be manipulated much assuming you work full time at the edge of your earning capabilities.
So it’s basically savings vs discretionary spending. You set a savings goal, then try to keep your spending under control.
I appreciate you mentioning countries other than the US
Kardden movement begins and everyone is like acting crazy. Let's bring it up!
Another great video. Interesting to see how much inflation has changed the way we live our daily lives. Also, is it cold in San Francisco? Hoodie in July? 😂.
Looking forward to the next video Humphrey.
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
Remember, you are not a tree - you can move.
Actually both you can move just have to be fine with uprooting
Sometimes for medical reasons you're stuck in a hcol area
I always thought it was 20% of gross. This is reassuring as I save around 15% gross or 30% of net.
I would be interesting to see what kind of yearly return we get if everyone starts to save 10-20% of thier salary.
Instead of spending it.
I find it crazy to add credit card debt to "NEEDS". Credit card debt is most likely from over spending in the "WANTS"! only issue in the 50/30/20 is debt.... Instead of 60/30/10, you should go over the 50/50/0 rule. 50% TO NEEDS, 50% TO DEBT, 0% FUN...
I got lucky and bought a cheap foreclosure before the run up on housing. Current mix is about 30/30/40
Great content, Hump. 👍🇺🇸
Kardden Token time! This thing is lifting up in ways nobody did before
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
Proper research, good analysis and luck is what you need to make profit in this constant market decline. It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research
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, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Would you mind doing a video talking about trad 401k vs Roth 401k and when to do which? Thanks. It's one of those things that nobody really discusses in great detail and I'd appreciate your take.
Check out the Money guy show they have discussed this. Generally if you are expecting to be in a higher tax bracket than you are now in retirement then Roth is more favorable as you are paying less taxes. Don’t take my advice as I am some guy on internet check money guy show out
The short answer is it’s a guess of whether your marginal tax bracket in retirement will be higher/lower than your marginal tax bracket today. If it’s the same, there’s no difference*
*caveat that using Roth allows you to contribute more because the limit is applied to the post-tax amount and is the same as the trad pre-tax limit
@@TheElsMan thanks but I already know the short, basic answer, and honestly it is not really a helpful one since nobody knows what the tax rate will be in the future, near or far.
@@notNaB2024You should have a general idea of wether your salary will increase over the next 5-10 years. If you are young, a Roth is almost always better. Particularly if you are an effective saver
@@notNaB2024 🤷🏻♂️ yeah it’s true. And Humphrey doesn’t either. I just try to take advantage of the extra contribution ability of Roth and let my employer match (which is always traditional) balance it out a bit.
Great information, thank you!
Using 8% rate of return, but not consider inflation doesn't work. Either you reduce the rate of return by inflation or you need to adjust the 4% target with inflation.
So 10% saving will not get you to your FI number in your example.
Thank you for putting the the tax advantage equivalents for other countries.
Do you still work a 9-5 job with the amount of work you put into your channel?
ive been making youtube videos fulltime since 2020
@@humphreywell done! Long time viewer. Yours and a few other channels have truly transformed my life over the years 🙇🏽♂️
@@humphreyis that including world of Warcraft, known to many as a part time job?
@humphrey I was shooting for first intelligent comment on your video. Thanks again for sharing with us hope you have a great week.
A reason 50/30/20 is difficult to achieve is because a lot of people put their cars as a „need“. Put that in your wants category and you‘re much more likely to hit the buckets. You will of course have a lot less to spend in your wants, but as soon as you think of it like that you’ll be a lot more motivated to to downgrade your vehicle to something that makes sense for your budget. I’m not saying you shouldn’t drive a car, but realise, transportation is a need, a 2021 Lexus (or your equivalent) is a want.
It would be great to see how inflation is considered in the compound growth calculations. Sadly I can't see $30k p.a. being sufficient in 2057 when I retire, so the 4% p.a. draw down from the $1.3m wouldn't be sufficient. How do we address this critical assumption?
Gym membership for me is a need as it is essential for your health.
This. People underestimate the importance of physical fitness today. Myself included. At 43 I'm not in the best shape, but I'm in better shape than most 20somethings because I'm in the gym at least 4 hours a week.
Hey, small question. I stuff a bit of money away every month to the side so I can buy "medium" purchases like a new Phone, Holidays, Gifts, and so on.... Does that qualify as "Saving" or does that belong to the "Wants" category?
It is spend at the end for stuff i WANT but in theory i SAVE it of a later date to buy things I want/need so I don't have to use credit or something like that.
Thanks for the explenation and keep up your great work. Really enjoy your content and the way you describe this stuff, even tho it's a little different in Switzerland, it gives a good understanding about the whole stuff.
The cost of places like McDonald's went up so much because they were forced to increase minimum wage.
For me it’s 55/20/25 needs/ wants/ savings. I’ve been looking into investing but I’m really not too sure on what to look for 😂
Imagine having money leftover for "wants" lmao i feel lucky to have a warm bed to sleep in and food in the fridge.... "wants" hahahahaha!
~35/10/55, LCOL and car free. However my salary is very low so I'd still be better off somewhere else most likely.
Kardden making ATH after ATH 🔥🔥
What about accounting for inflation when we retire? With a small inflation rate of 2% $10k of today's money would have the
The spending power of around $15k 20 years from now. I've watched a lot of your videos and haven't seen any income adjustment for inflation. I'd love to hear your insight on how we can attempt to account for this as we get older.
I was thinking the same. I usually calculate my retirement income with the 4% rule and then divide by 2 due to inflation and that gives me a more realistic number I think. But I also have 35 years before retirement so I’m sure there is a better equation that takes years before retirement into account
Kardden Token is next atleast 40x coin, upswing better than Kardden at primetime
This only applies to billionaires.
The rest of us struggle for daily needs. Thanks jb.
Thanks, please make another video about Kardden I prefer Kardden that is strong
Don't forget child care! Child care is a big expense that many don't factor into their expenses as a need.
You are brilliant- damn!
Dude you need to do something about all these scam bots in your comments, PLEASE
Kardden is the future and more than just another Floki, it has all of it
Omg so bullish on Kardden! ATH next month? 🔥
Nice hoodie! Where’s that from?
Lucky for those who had Kardden since yesterday, but more green days to come
Humphrey Gosling LOL I cant stop laughing :)
I’ll be the one to argue that your subscriptions sometimes can be a need 😅😅
I appreciate you highlighting the post-tax income or net income, rather than gross. Many finfluencers forget to mention that and in California, a 100k gross income could actually be 60-70k net income after taxes and insurance deductions!
I’m definitely following the 60/30/10, but the 30 and 10 are flipped
I use 70 20 10....10% is the most important though, the investing portion
Im 50 50 0...when I go, I go empty handed.
Lets get one thing straight. Eating out. No matter where. Is and always has been a luxury.
And we really should still stick to the 50/30/20 rule. Its not dead. San Francisco & ny have never been affordable. If it needs to change then 60/20/20 or 60/25/15.
After all the bad years Kardden is our savior
Its sad because here in Colombia a “proper” income its like 12k a year
What were the Pro Rata rule related resources mentioned in the video?
So if I’m saving 10% of my income, I’m on track for a comfy retirement, right? 🤔💰
Needs are like 7% of an income in my case.
Are pet food and supplies needs or wants? are gifts for loved ones needs or wants? Are snacks, sweets, or seltzers needs or wants? Are supplements (not prescribed medication) needs or wants? ugh
Better not to pay rent in retirement.
Better to own a home. Not necessarily rent free but property taxes even at 12k a year is only 1k per month.
House insurance even at an outrageous 5k per year would only be $600 per month.
Watch the HOA fees too.
I can't imagine spending 30% of my income on wants...
But to be fair I don't live in the US...
Sorry, 30 percent on wants is nuts. I spend like 7% and it feels extravagant.
Yeah, the average person who makes $4500… spending $1250 on wants is kinda wild, never going to retire with 10% being set aside lol
Dropping a second car for transit or an electric bike is simple way to save money and improve health.
Does the 10% rule include the ones where my employers take it out directly from my paycheck with their match or do I consider both as bonus?
I’d like to know this as well
What you contribute to the 401k counts toward the 10%. Don’t include the match.
If your employer matches 5%, then you should contribute 10%, employer contributes 5%, for a total of 15%.
I only say this because 10% is too low. If you follow The Money Guy’s 25% rule and you make less than $100k, then you can include the match
Im doing a 35(needs)/65 (investments)
I’m only able to do 65/20/15
Felt assuring to hear this with the way prices are now.. esp after getting our first mortgage. Love the way you break things down, man. Thanks for your content and insight!
Glad it was helpful!
What are the Roth IRA equivalent tax advantaged accounts in Asia? I'm from the Philippines, and I don't know where to find out similar accounts to that. Can you provide a list of such similar accounts for your Asian viewers please?
I respect your work mate so you say Kardden good one to use?
I’d make it 60/20/20. 10% is not enough to save.
10% of after tax income towards savings is too small IMHO. Realistically, you need about 20-30% consistently if you want to live independently from social security etc. It's best to assume that SS won't exist or probably dramatically cut back.
I believe we are overly anxious about future, which is not guaranteed, maybe 10% is even a lot considering humble outlook to future
Isn’t the income limit 146,000 for single filers for the roth ira this year?
Duuuude. I live in poland. Over 50% of income goes only into flat rental of 60m and that's divided by 2 person xD
Also living in poland I don't have many needs. Just pure work so in that case it is more like 80/5/15 -.-
I use 80/20 rule. 80% in money market at 5% and 20% in leveraged option plays.
Needs make up 70% for me, rent is very expensive
Does he still have his Christmas tree up in July?
Any suggestions for a basic post tax calculator for CA?
60/20/20💰💰💰💰
What about someone thats 22 no bills and lives at home making 1700 a month I buy groceries pay for gas thats it
I have a 401k with just over 100k. I have 40k in a Roth 401k and the rest is traditional and a match. How could I separate them bc my work puts them all in one account
80% equities 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk.