I disagree with those that say your show is repetitive. At least, I disagree that that’s a bad thing. I go to church every week not because I learn new things, but because it helps me to always remember the most important things. I listen to the money guy for the same reason. It keeps me motivated and it keeps me out of the ditch I could make for myself otherwise. Behaviorally, this show is gold! And I continue to find it entertaining! Thank you!
Saving money is about repetition. Set it and forget it, automate savings and money will start working for you rather then you working for it :) This channel might repeat these concepts many times but that is OK people need it repeated many times to them before it starts to become habit.
Exactly... Napoleon once said that a military genius was the man who could do the ordinary when everyone around him was losing their mind. Its fundamentals that build wealth.
My wife volunteered to look at our finances from this past year and itomize them to get our realistic budget ready for this year... And I'm blown away! She rarely shows any interest in our finances, and I'm stoked to not be alone on it!
Hey I’m 17 and I just found this show. I will have $10000 saved up by the time I turn 18. Cheers to a brighter future and don’t forget to also live in the present 😮. I realize that I will only be a teenager once in my life so I might as well live it up while saving
Don’t forget to invest in yourself as well as the markets. I’ll recommend 3 books to set you up for success: Level 1: Rich Dad Poor Dad Level 2: The Four Hour Work Week 🤯(trust me on this one) Level 3: How To Win Friends and Influence People.
I love the money team. Thank you for giving me the courage to start investing. I make 120k a year and save 70% of my paycheck but I am sacred to invest.
I love these guys hey if being repetitive is the thing that’s going to get me to financial freedom well let it be these guys definitely know what their talking about I’m all in it! Keep up the great content!
I'm 23 years old and I decided to do a net Worth Statements this year since this channel and Dave Ramsay's channel inspire me to keep up with my money goals and accomplishments. I have a net worth of 115,000 I had no idea! I thought it was much lower but once I actually added in my vehicle, my 401k, all the cash i have from my side hussles it climbed really fast. You are an inspiration to young people and everybody needs to watch a few of your shows so they can get a grasp on their wealth and live like no one else
@DaltonL333 my main job is being a line supervisor at a sheet metal manufacturing plant. $20/hr minimum of 70 hrs a week. And at night I started my own business making wooden furniture where I brought in about 26k in the second year, last year, Of profit. What about you?
@@Mary_J1998 that’s a lot of hours, can’t believe you have time for a side hustle. I work in property management at apartments and have started to sell clothes on poshmark on the side.
Don’t forget too that who doesn’t love a sale?!? Whenever the market dips I’m just hoping that’s when my automated contribution hits as well. Gotta love stocks (or index funds) on sale! 🎉
Been keeping track of my net worth (account balances, and I pro-rate depreciation on my vehicle and other hard goods) on a weekly basis since 2019, it's amazing to have the higher resolution and see the market guiding my allocations up and down, it's been fun.
I am from India, new subscriber to your channel. First time commenter, Although I don't follow the Roth, IRA, etc but I completely get what you are trying to help understand. Thanks for making finance easy. Your videos are motivating. Please keep it comming and omg there's a ton of recordings you've done. God bless you both 👍
I wasn’t always one to workout but, now I ROW (very low impact)(Concept2 is the maker of the Rower! I start with Pull-ups (about 7) then Sit-ups! I do 200 sit-ups! Very proud of this! Then I Row for 350-Calories (about 35 minutes)! All in all, it’s been great!
Totally agree about the importance of written goals! I don't do resolutions, but I do use the new year to reset my short, medium, and long term measurable goals. I look at them at least weekly throughout the year and find that I exceed them each year. It really keeps me focused on my priorities. (I also do a big stretch category just for inspiration!)
Brokerage accounts have a distinct advantage of some of the taxable accounts in that they are much more liquid for those of us that aspire to retire early or for emergencies that go beyond a basic emergency fund. Some of one’s investments should go into that along with the tax free accounts.
Question, at 25 years old to 65 years old with 6,500 in every year comes without interest comes to 260,000. You are saying it could be 286,000 in that time frame so a gain of 26,000 with interest. Is 26,000 over 40 years a big return? Love the show thanks!
I think the sign IS on the same "horizontal axis" but the camera is not right in the middle, it's closer to Bo's side creating this illusion. Move the camera closer to Bryan so it is between them.
I've heard it many times that just putting however much is left over each month in savings is a bad idea but it works for me. I start with a budget and do my best to keep each category down. Most end up under the max, a few always go over. But I always end up saving more each month than I have planned on. Weird
I automate my 401k savings since that has to come out of my payroll, but I also decide on my R-IRA and Taxable brokerages investments just based off what I have at the end of the month. I have a yearly and monthly goal that I'm targeting, so it just gives me more flexibility because my Job has a terribly unreliable pay department.
I found The Money Guys Show in January of 2022 and learned a lot. Eventually I dipped back in 2021 and 2020 content and it was the exact same stuff they talked about in 2022. Consistent, sure, but nothing new or innovative except when it came to the stuff you pay for (Networth Tool, Know Your Number course, etc). I'll be watching carefully in 2023 to see if anything new comes along or will we just get the same "Follow the FOO" advice during the Q&A's.
As it mentions in The Next Millionaire Next Door, people who are Prodigious Accumulators of Wealth spend more time each week focusing on finances. As a person who has had to lose weight, or save money, or whatever my goal is... it's always helpful to have things to listen to or remind yourself of what you are working towards so you keep it front of mind and your priorities are in focus. The fact that it hasn't changed is a nod towards the fact that good financial habits are the same, no matter what year or decade you are in. These guys do an awesome job flavoring the videos with great stories and the funny personal side is a testament to their personalities and energy. I happily absorb each video, and reabsorb the same ones... over and over again. Thanks for helping me to "Stir the paint" and keep this stuff front of mind!
The S&P was pretty much "flat" for that mentioned 6 year period of time. If some one put in X amount of dollars at the beginning of that up/down trend, what amount would that have at the end of the six years? I've been trying to find a calculator for this.
Wow, I was richer than Bo on 12/31/09 (+$10k). I'm most likely a bit older (currently 39) and I didn't have a house yet, but still, interesting comparison. He also had a nicer car. I was rolling in a '99 Corolla, living in a studio apartment with my wife, and struggling to find full-time work. I simply had some extra money from my college savings that went into our first home's down payment a year later.
There is no worst case plan, things can always get worse. What if the market crashes and your employer goes out of business, then your house is destroyed in a natural disaster and the insurance company goes broke so you don't get a payout, then the IRS decides to aggressively audit you, then you're diagnosed with cancer and need expensive treatment... Obviously all this at once is unlikely, but it demonstrates the point that something else can always go wrong. So how do you decide what's a reasonable "bad case"?
@@brianmcg321 Wasn't talking about stocks... Lost my job along with it's desperately needed health insurance, resulting in bankruptcy and homelessness.
I guess when we were making fun of beans & rice, 12% returns, and endorsed local providers, we should have listened to the part about a robust emergency fund.
I disagree with those that say your show is repetitive. At least, I disagree that that’s a bad thing. I go to church every week not because I learn new things, but because it helps me to always remember the most important things. I listen to the money guy for the same reason. It keeps me motivated and it keeps me out of the ditch I could make for myself otherwise. Behaviorally, this show is gold! And I continue to find it entertaining! Thank you!
Saving money is about repetition. Set it and forget it, automate savings and money will start working for you rather then you working for it :) This channel might repeat these concepts many times but that is OK people need it repeated many times to them before it starts to become habit.
Right, I love seeing the money multiplier by age chart almost every episode. Helps keep me motivated.
Exactly... Napoleon once said that a military genius was the man who could do the ordinary when everyone around him was losing their mind. Its fundamentals that build wealth.
My main wish is that they had more guests.
There is only so much you can say about money, there is always going to be overlap but in a good way
My wife volunteered to look at our finances from this past year and itomize them to get our realistic budget ready for this year... And I'm blown away! She rarely shows any interest in our finances, and I'm stoked to not be alone on it!
Hey I’m 17 and I just found this show. I will have $10000 saved up by the time I turn 18. Cheers to a brighter future and don’t forget to also live in the present 😮. I realize that I will only be a teenager once in my life so I might as well live it up while saving
Don’t forget to invest in yourself as well as the markets. I’ll recommend 3 books to set you up for success:
Level 1: Rich Dad Poor Dad
Level 2: The Four Hour Work Week 🤯(trust me on this one)
Level 3: How To Win Friends and Influence People.
Nice to see Bo excited about this episode for a change!
But the real question is: "is Bo excited about this show?"
I love the money team. Thank you for giving me the courage to start investing. I make 120k a year and save 70% of my paycheck but I am sacred to invest.
I love these guys hey if being repetitive is the thing that’s going to get me to financial freedom well let it be these guys definitely know what their talking about I’m all in it! Keep up the great content!
I'm 23 years old and I decided to do a net Worth Statements this year since this channel and Dave Ramsay's channel inspire me to keep up with my money goals and accomplishments. I have a net worth of 115,000 I had no idea! I thought it was much lower but once I actually added in my vehicle, my 401k, all the cash i have from my side hussles it climbed really fast. You are an inspiration to young people and everybody needs to watch a few of your shows so they can get a grasp on their wealth and live like no one else
That's awesome! I'm the same age, trying to hit the 100k mark.
@DaltonL333 I expected to be around 60-75 but I guess I never really added everything up until I was -forced- to when filling out this form lol.
@@Mary_J1998 what type of work do you do for income? Or types of side hustles?
@DaltonL333 my main job is being a line supervisor at a sheet metal manufacturing plant. $20/hr minimum of 70 hrs a week. And at night I started my own business making wooden furniture where I brought in about 26k in the second year, last year, Of profit.
What about you?
@@Mary_J1998 that’s a lot of hours, can’t believe you have time for a side hustle. I work in property management at apartments and have started to sell clothes on poshmark on the side.
Don’t forget too that who doesn’t love a sale?!? Whenever the market dips I’m just hoping that’s when my automated contribution hits as well. Gotta love stocks (or index funds) on sale! 🎉
Been keeping track of my net worth (account balances, and I pro-rate depreciation on my vehicle and other hard goods) on a weekly basis since 2019, it's amazing to have the higher resolution and see the market guiding my allocations up and down, it's been fun.
REALLY appreciate seeing that 2009 net worth statement! Thank you for sharing!
Net worth = assets-debts
Everyone should have a balance sheet with these numbers on 1-2 pages.
It gets easy and is quite the motivator.
Trust me.
I am from India, new subscriber to your channel. First time commenter, Although I don't follow the Roth, IRA, etc but I completely get what you are trying to help understand. Thanks for making finance easy. Your videos are motivating. Please keep it comming and omg there's a ton of recordings you've done. God bless you both 👍
I wasn’t always one to workout but, now I ROW (very low impact)(Concept2 is the maker of the Rower!
I start with Pull-ups (about 7) then Sit-ups! I do 200 sit-ups! Very proud of this!
Then I Row for 350-Calories (about 35 minutes)!
All in all, it’s been great!
Thank y’all for sharing. The net worth statement is vey inspiring
Not repetition, reinforcement!
Bo is excited about this show
I’m finally here on time! Looking forward to the show!
I watch this show a lot. Very helpful
Great Video. Thank you for posting.
With SMART goals, the R should be Relevant. If it's Achieveable, it's Realistic....
The lottery actually is a small part of my retirement planning.
Lol
Very small.
Totally agree about the importance of written goals! I don't do resolutions, but I do use the new year to reset my short, medium, and long term measurable goals. I look at them at least weekly throughout the year and find that I exceed them each year. It really keeps me focused on my priorities. (I also do a big stretch category just for inspiration!)
For the Roth IRA, you can put in $200 in at the beginning, then save an even $525 for 12 months. I just can't stand that lack of even divisibility lol
😂
I should have done that! I like nice even numbers.
If you get paid bi-weekly, you'll get 26 checks in a year. $250 x 26. For those contributing from each check, this year is nice and clean too lol.
I hear you. It was nice when it was an even $500 per month to get to $6k.
Yes! I threw in the extra $500 the first week of January and kept my monthly contributions at $500.
Brokerage accounts have a distinct advantage of some of the taxable accounts in that they are much more liquid for those of us that aspire to retire early or for emergencies that go beyond a basic emergency fund. Some of one’s investments should go into that along with the tax free accounts.
Question, at 25 years old to 65 years old with 6,500 in every year comes without interest comes to 260,000. You are saying it could be 286,000 in that time frame so a gain of 26,000 with interest. Is 26,000 over 40 years a big return? Love the show thanks!
He was saying ONE contribution of 6500 no more could be equal to 280 by the time your 65. So 40 years your 6500 could turn into that
@@matttorres1491 gotcha thanks
@@hiking7521 no problem! Goodluck on your financial journey
Something I've learned is if I max out Roth, the next day we are down
I’m on that same schedule 😂
So you're the one.
Subtly, by talking about visualizing the “ideal patient”, they are indicating that physicians are some of their ideal clients. 😂
My investment account total has gone down, but some of the investments I made last year dollar cost averaging last year are up 17 percent!
This is a nitpick: Thoughts on taking the barcodes off the mic stands and leveling/aligning the sign on the same horizontal axis as the desk?
I think the sign IS on the same "horizontal axis" but the camera is not right in the middle, it's closer to Bo's side creating this illusion. Move the camera closer to Bryan so it is between them.
extremely common Bo Hanson W
Strange that there is a live chat when this isn’t recorded live.
Its the chat replay of when the episode was premiering
I've heard it many times that just putting however much is left over each month in savings is a bad idea but it works for me. I start with a budget and do my best to keep each category down. Most end up under the max, a few always go over.
But I always end up saving more each month than I have planned on.
Weird
I automate my 401k savings since that has to come out of my payroll, but I also decide on my R-IRA and Taxable brokerages investments just based off what I have at the end of the month.
I have a yearly and monthly goal that I'm targeting, so it just gives me more flexibility because my Job has a terribly unreliable pay department.
I found The Money Guys Show in January of 2022 and learned a lot. Eventually I dipped back in 2021 and 2020 content and it was the exact same stuff they talked about in 2022. Consistent, sure, but nothing new or innovative except when it came to the stuff you pay for (Networth Tool, Know Your Number course, etc). I'll be watching carefully in 2023 to see if anything new comes along or will we just get the same "Follow the FOO" advice during the Q&A's.
As it mentions in The Next Millionaire Next Door, people who are Prodigious Accumulators of Wealth spend more time each week focusing on finances. As a person who has had to lose weight, or save money, or whatever my goal is... it's always helpful to have things to listen to or remind yourself of what you are working towards so you keep it front of mind and your priorities are in focus.
The fact that it hasn't changed is a nod towards the fact that good financial habits are the same, no matter what year or decade you are in. These guys do an awesome job flavoring the videos with great stories and the funny personal side is a testament to their personalities and energy.
I happily absorb each video, and reabsorb the same ones... over and over again. Thanks for helping me to "Stir the paint" and keep this stuff front of mind!
What do you have on your show?
The S&P was pretty much "flat" for that mentioned 6 year period of time. If some one put in X amount of dollars at the beginning of that up/down trend, what amount would that have at the end of the six years? I've been trying to find a calculator for this.
Wow, I was richer than Bo on 12/31/09 (+$10k). I'm most likely a bit older (currently 39) and I didn't have a house yet, but still, interesting comparison. He also had a nicer car. I was rolling in a '99 Corolla, living in a studio apartment with my wife, and struggling to find full-time work. I simply had some extra money from my college savings that went into our first home's down payment a year later.
There is no worst case plan, things can always get worse. What if the market crashes and your employer goes out of business, then your house is destroyed in a natural disaster and the insurance company goes broke so you don't get a payout, then the IRS decides to aggressively audit you, then you're diagnosed with cancer and need expensive treatment...
Obviously all this at once is unlikely, but it demonstrates the point that something else can always go wrong. So how do you decide what's a reasonable "bad case"?
Am i the only one who couldnt read bo’s net worth statement?
🇺🇸
Still haven't recovered from 2008...
That's literally impossible unless you sold from the bottom and then never reinvested.
@@brianmcg321 Wasn't talking about stocks... Lost my job along with it's desperately needed health insurance, resulting in bankruptcy and homelessness.
I guess when we were making fun of beans & rice, 12% returns, and endorsed local providers, we should have listened to the part about a robust emergency fund.
How old is bo lol