even ordinary common sense is no longer common sense; I've met countless people who just don't know what I'm talking about when I talk to them about compounding money. They also don't believe the math if you show them what they can do if they consistently invest. It's a difficult road ahead for those of us involved in trying to teach. Not because there isn't a need, but because people are not receptive, in general. The focus is too strongly on "get rich fast" "retire by 30" - and it's cool, I get it...but people are doing nutty things to get there...like day trading with 400% margin. Or Selling put options on Robinhood...or buying penny stocks. It's all about rolling the dice rn. It's more important than ever for people at at level of financial success to bring AT LEAST 2 people up with them and ask them to bring up 2 more - and so on. There's a bit of an echo chamber on RUclips. people like me who are ALREADY into finance watch videos from Andrei J, Graham S, Meet Kevin...etc because we're motivated and in this circle; we've gotta reach the people who aren't listening. I'm not sure how, but there are a SHIT TON MORE of them than us in this circle.
@@AmanBansil I just finished reading your post and your experience sounds exactly like mine. I have tried relentlessly to help others better manage their finances after I learned to do it for myself. People say they want financial security but they are not willing to make the sacrifices. They don't want to delay gratification. I try to help them develop a plan to eliminate date and establish a budget and some people they will see that it may take a few years to eliminate the debt and then they say that's too long so they don't try, they want a 3 month plan not a 3 year plan. I also tried showing people the numbers and they still don't believe me. I have purchased about 20 copies of the "Total money Makeover " by Dave Ramsey as gifts and people don't read it or they don't put the plan in action. Its frustrating trying to help people who don't want to help themselves.
marcus bailey ah Man U bought it for them. That’s really cool. I mean good karma for you, maybe they will read that one day. It’s frustrating for sure. There are also good endings. My wife for instance was a person who didn’t want to invest. Too scared. Held debt of about 10k constantly. After 10 years+ of me asking, she agreed. Within 1.5 yrs she has 70k invested. She has never seen that much in her own account. My Dad, never ever wanted to touch stocks. I kept asking for 1-2 years. He said “I am gonna retire soon, I don’t wanna worry about paying taxes on that money”. Finally, a month ago, he agreed after I tried to explain one last time. My solution was to get him in 70-80%bonds and rest stocks. I showed him WHY it works. WHY I buy the entire market. He set aside 50k to invest. He told me he got $5 interest in the last 2-3 years. I’ve only invested about 15k of it and I think I’ve already gotten him about $300 🤣 so, they can come around. Especially if they are important to you. Put in the time with them. My next target is my sister. Who says she wants to be a multimillionaire in 2-3 years but has almost no investments. So yea. Lol more work to do. This is exactly why I started my channel - to help people understand the power we have at our disposal. Good luck and don’t give up.
"Millions of Americans are going to have to retire on a lot less." And everyone of them will get some social security. If you only got $1,000 per month from social security then you are getting the equivalent of 4% of a $300,000 nut. Basically, right out of the gate, due to SSI you have a huge leg up and only need to have an investment account worth $700,000, assuming you retire at an age that you can take SSI. That would give most people, that start working in their late teens, 47 years to compound their investment dollars. You'd basically have to try to fail to not make it....or bang out kids when you have no money or education, thus are stuck in garbage jobs trying to feed kids, or being a single mom, or whatever other excuse people use and treat like a circumstance rather than a choice. $2,000 per year for 47 years at 8% compound annual return rate (less than that of the long-term returns of the stock market) would put you at $906,000. Clearly there is inflation, but you are also not going to only be able to invest $2000 per year for that whole 47 years. A tiny bit of discipline and the amount you invest would easily increase significantly.
not unless we keep making content and at least affect a few people - and ask them to affect a few themselves. The fact is, in America, ANYONE can be a millionaire if they start early enough. So, the delta is knowledge and trust in the process (in the math) that it will work. And not doing stuff that doesn't work...i.e. trying to beat the market consistency for 10-30 years.
lol ouch, I think I have a Carnival Cruise channel - it's kinda ok sometimes, but rn, it's just cruising along at the lowest levels it can...but but but, I'm not quitting...not even close. I keep making those videos in hopes that, some day, I, too, shall make magic happen.
Hi Andrei! Thanks for sharing this video! You're right, inflation is crazy and 1 million dollars later is going to be worth so much less. I love how you have great information and you incorporate magic into your videos! Keep it up! 😄
Unfortunately there's a lot of baby boomers that will retire broke and their kids will have to worry what to do with them. Going to be more and more common in the coming years
KUNGFLU FIGHTER Yeah, and the move away from pensions and to 401Ks isn’t going to help either. It’s going to be a mess unless our generation gets financially literate soon.
The thing is that i cant listen at what he says when starts some cards tricks. I always try to understand how does that. I'm from Spain, so listening in english and watching his magic...what can i Say...can be dificult. 😅
Reticul Rugos Try listening to him without watching the video. Then you will see that his advice is the real magic. His card tricks? They are just sleight of hand.
This is why i love your videos, you are not here to sell us a product (sponsorship is not counted as selling), you are here to educate and do so with charisma and some magic(which is totally real).
I think instead of trying to retire with a million I would rather try and retire with a passive income of 100k a year and a house that’s paid off I would feel better about that
100k in passive income would require a 2 million dollar investment at 4%. Unless you supplement with social security later in life. Doable, but definitely a long journey
$100k/yr is a crazy high amount of money if you have a paid off house and aren’t putting away any money for investments anymore, especially if that 100k is after tax.
Honestly it’s pretty easy. Just work on royalty income. Just a thought. I’m getting ready to hop off of a 9-5 job and only focusing on building business and intellectual property!
My parents do that...they get everything they need from their home (except for milk I suppose). They will NOT move lol...they've put in a lot of work cultivating the land. Sorry, did you say Sheer your own Sheep 0_o
I’m about to turn 29 and all of a sudden life and reality finally hit me. I’ve been learning everything I can lately, between print on demand, dropshipping, stocks, anything to grow externally outside of my job. It’s good to hear you were around this age when you started to make drastic changes.
I am SO glad you made this video pointing out how we keep hearing higher numbers for retirement, and that there are other motives behind that recommendation! I think your lifestyle drives how much you need for retirement, and of course that wild card of healthcare when you're older....
Phenomenal video and very motivating to work hard, save, and invest. Andrei’s been such a big inspiration for me and my financial journey! Thanks dude!
Ahh, this video gave me pause Andrei. It may be too general and, perhaps, biased. I've actually been planning a video around this subject; I may do a reaction vid...if that's cool. Retirement age and lifestyle are highly subjective. One of the key things that retirees miss is that they completely underestimate medical costs and their leisure monthly costs. To start, we have to talk about 'where do you want to retire' - now, I'm with you when you say "move to a cheaper area" (paraphrasing) and some may do that, but others may not because they've built a life somewhere and they don't want to leave that place. Then, we can talk about ongoing medical costs, which go up as your age increases (including unexpected injuries etc). We can, then, also talk about WHAT would you do during retirement. What happens is that people have SOOOO MUCH free time...that they need to DO SOMETHING to fill that time. Well, you can only volunteer or watch Netflix for so long...you will eventually seek out more things to do, you'll want to spend time with people you love, you'll want to buy something for the grand kids, you'll want to take an extra trip you've been meaning to take ...etc. As your desire to increase activity starts to surface (since you're not working), you will eventually cause a larger drain on your monthly expenses simply because you're trying to live a fuller life during your waking hours. Now, to your point, it is TOTALLY POSSIBLE to live 30k or 40k a year; but you've got to, then, ensure that you really nail your expenses - and, here, I get your point about "if you can't retire with 1M, you can't retire with 10M"...I just thing that it's not that simple, it's not just a matter of WILL; it's the simple matter of LIFE BEING LONG AF. And I know we think "Life is short" and it is in many regards - we've all looked back and have said "man, where did the last 5 years go"; however, at the same time, Life is also LONG; quite a lot longer than we think. Anyhow, I would much rather have people AIM a bit higher and then have a bit extra than aim low and run out because they didn't realize their expenses were going to go up due to medical expenses and desired leisure expenses, which will naturally come as more and more humans come into your life. Great video, I don't know how the heck you get such a great quality shot...I've got 3 lights and a Canon M50 and *sigh* I'm working on it...bye!
My Grandparents are from Poland; so I got the whole go to school, get a good job, advice too. Us Eastern Europeans sure know how to work our selves to death!
$1million invested in CASHFLOW real estate @ 10% = $8,333/mo. Doesn’t include appreciation, depreciation or equity pay down by tenants. If you can live off $8,333/mo... congrats you can retire off $1million invested in CASHFLOW producing real estate 🙌🏻
I’m so glad you took the risk! My dad and I look forward to your videos every week for the magic and the information the world need more people like you! Thanks for being awesome Andrei!
One thing you're not taking into account: if you or your spouse need assisted living or memory care. This sort of expense would drain your expenses significantly. Great video as always! Thank you for all you do!
Andrei I like how you explain everything with such simplicity. You words are transparent and very educational. Thank you and keep up your wonderful content.
Kho, great comment - I'm trying to make my videos better. Would you say that you took anything actionable from this video? Is that important? There is a lot of information and humor, but what did you take away and do you have any plans to change any of your execution? Thanks!
I want to retire so bad. On my way though. About to buy a rental property with 20% down that should cash flow from day one. Also grabbing stocks at a discount with cash from my side hustle. Good luck to everyone else trying to get there long before 65!
Geographical arbitrage places like Alabama came to my mind then you blew that out of the water when you mentioned Thailand, Philippines, clearly I have to start thinking bigger.
My father passed away 2 months ago, he was 85 years old. The guy had less than $200k to his name when he passed. He lived frugally in the last years of his life and collected Social Security. I wished he'd took care of himself better, and used his own money more, and possibly lived a longer healthier life. Because all his children, myself and my siblings, we are all financially independent. We could have helped him financially if he'd only asked.
Yugioh!! My son won first place at YCS Pasadena right before the Roni Rona hit. He played in the dragon league division 13 and under. He qualified for the semi finals in Florida but all that got cancelled 😑
What are your plans Andrei? You mentioned you would like to be retired at 35, are you looking at taking advantage of geographical arbitrage? If so, where? And what would would you be doing with your time? Hopefully, you continue RUclips!
ahhhh you asked the right question "what would you be doing with your time" - this question will get you into a rabbit hole of spending. But yea, everyone has their own number...I'm aiming at 5-10M - once you set a target, you will find ways to shoot towards it...so, my only input would be to not sell yourself short. Especially if you're young af.
@@alecgalbraith5604 yea I mean, when I retire....I'm not gonna sit around watching fukin Netflix all day. I mean...no. And it's ok to work a bit here n there. It's not the end of the world.
yea a lot of people NEED some financial education asap. All I see around me are people who are just too scared of investing, it's crazy. I'm tryina teach on RUclips, it's slow going. Will get there :D
I absolutely love your content. intelligent and concise with a splash of humor and magic. You have a recipe for success. I wish you the best of luck in your endeavors. keep it up.
Even though this is meant for Andrei - I got some lessons out of this comment too for my channel :) Although, I don't know any magic...hmm damnit, I gotta stop being so serious in my videos. Keep em short, full of content, and make em smile - I'm writing that down as a new goal
My favorite method is to have a dividend portfolio valued at $1 million while having your yield on cost be 4%. That's $40k a year that will hopefully continue to grow annually, and you'll never have to touch the principal.
I grew up in Thailand. 100% recommend to live there and cool thing is they give you a baby elephant for free for a year to take care of! Last part is false but still amazing place to live.
Being in a similar financial situation as Andrei, I don't see the word "retirement" as meaning anything to us. We've pretty much felt that way most of our lives due to our philosophies. I would simply define the goal as "financial freedom" instead. Hitting milestones like "millionaire" are simply a satisfaction and not a necessity. It may be astonishing to people how little you actually need to live a comfortable life.
It's crazy. I was down by $90 when I just started investing at the start of the pandemic. Now that ever since I've bought Tesla stock and other growth stocks, I've got out of the red and I'm in the green and up. And it's just getting started. Hopefully I can reach 100k. If I do, most likely I can see that million.
I live a very comfortable life on about $20k/year in SF, one of the most expensive places in the US to live, and I don't even have a roommate. If you're frugal, don't carry debt and are fortunate not to have the burden of medical bills, retiring on even HALF a million is possible in most of the US. The media trains us to think we need things we don't. When I was stationed in NC, I lived on even less: about $8k/year, which means I could retire on just $200k using the 4% rule. Frugality is a super power.
@@Oliver-bn7jt It really depends on what gives them happiness, because that is what its really all about. If pinching pennies doesn't make them unhappy, why not keep doing it? There is a type of satisfaction in utilizing your resources in the most efficient manner. I personally wouldn't want to penny punch for the rest of my life, but I'm not them.
yes, the issue is that it works for a certain situation; as one gets older, the expenses go up due to medical...also retired folk wanna do stuff...doing stuff costs money. And, not to mention having MORE TIME during retirement means even more trips...and, yea, you guessed it...expenses go up. If we're just setting goals, then we've gotta do better than 20-30k/yr...and we can...with aggressive investing while you're young.
The problem is that most watching this video aren’t going to retire for another 40 years, so by that time $1 mil won’t be worth even 500k in today’s dollars. Even with your lifestyle you’d be struggling to retire with that amount 40 years from now.
You can. It's just the matter of doing this monthly - just CONSISTENTLY INVEST into the entire stock market, never panic sell...just keep buying. Keep increasing your monthly amounts. Magic will happen with that kinda intensity.
Yes you can! There are preferred shares/junk bonds that pay 8-20% based on risk/market conditions. That’s 80k-200k easy if you put in the work to find companies. One example is Dlng-PA two months ago way to many people sold and div yield was more than 20% and now the share price almost tripled on top. There are many more out there!
I already know a lot of what you said in your video, BUT you are so entertaining I watched the entire video. Good work! You know how to explain, keep it simple and keep them glued to the screen :D.
I read a book years ago called "your money or your life", In it they stressed Financial independence or FI, but didn't stress the retirement thing. Personally i appreciated this because While there are many that see FI = RE are missing the point that we humans need something to do with our days. Retirement was a human invented concept and I think that the sooner we get over it as a society the better, working our whole live to do nothing won't bring us any happiness, I like the 4% rule though, right up there with the 80/20 rule in being somehow crazy accurate.
The production value of this video is amazing. Nice job and great information. Health care is the primary barrier to making things work. Great work on this video
no bro, yes u can...AGE 18: SAVES $100 a month...put it all into SP500...never sells... = 1M at retirement. Simple as that. ok, if you missed that age, no worries, I did too...there's a calculation for you. if interested, lmk your age and desired level (in dollars) and when (in years) you'd like to hit that and I can do some quick math. It's possible; once you say it, it may just come true.
Investing, should be more like watching your plant grow, I have watched mine grow for 5 months now 😊 with a return of $100k profit of my actual investment
I remember when I quit a job with no backup plan ... quite the learning experience! Key to affording retirement is to own a house with no mortgage...don’t let the banks take most of your money!
Hi Francisco, I'm 39 and 1.5M net worth...quick how-to? Ready? ok let's go: Immediately, open up a Vanguard account - input $2000 a month into that account each month (invest in SP500 INDEX FUND), keep doing it, regardless of the market. If the markets drop, try to invest more if you can. REINVEST all dividends, never sell. By 40, you'll hit 1M or more. MY STORY --> Now, I'm just gonna share how I fucked up and did this anyhow...I got STARTED at 26...I lost 300,000+ at 34 :( cuz I followed the wrong advice. But luckily, I had a house I could sell...I sold it...took 270k from that and 40k of some other money I had that survived the loss, I started investing HEAVILY starting 2015. I learned to negotiate at work...I got higher and higher salaries...I kept jumping Titles at work to get paid more. Last year, for instance, we did over 10k a month in investments. Year before that, over 7k a month of investments. I'm 39 now and I've hit 1.5M this year (it's going up and down cuz of Rona, but yes, we hit that mark)...I'm on target to be at 6-10M by 65...but but but...I'm all about accelerating so I've got a bunch things I'm trying to do to accelerate. (you can find my story on my channel along with advice) - I'm not a stock broker or anything; please do your own research, I base my strategy on what John Bogle advises (which is super wide 'buy everything/the entire fuking market' strategy...cuz 98% of the traders don't do better than SP500 over 10-30 year span and I'm tryina go through this for the long run)...good luck brotha.
We need a video of you showing us your Yu-Gi-Oh card collection and your Deck that you were using when you were competing! I would take that over 1 million dollars!
Seems like you should talk about the biggest expense that can’t be avoided if you plan to retire early and that’s health insurance. You can pay houses and everything else off in prep for early retirement but you can’t live with out insurance. Private family will be over $1000 a month.
3.3% yield on qualified dividends and move to a low cost of living country like Colombia. You can get a retirement visa there with only 753/mo in passive income so yes
The 4% Rule and yearly income multiplied by 25 to get to your Retirement number.... so simple and logical. Good message Andre! The world of finance and FAs love to over complicate personal finance and retirement, and charge criminal high fees in the process.
I was watching fox business news and the host spoke about an investor who took advantage of the current market and made over $475,000 within 3 months, so I’m aware it is a good time to invest, but as a beginner what strategies and patterns can I apply to my investment to make this much profit any tips or pointers would be appreciated guys.
@Eric Ryenard I came across this Lady Karina in an Article and they spoke very highly of her profession, I have been trying to figure out how to reach her, where can she be reached and how does she handle investments?
Thoroughly Enjoyed this video 💯. I almost gave up on forex because I hardly have any time to learn and trade but thankfully I’m currently subscribed to Lilly Baker’s copy trade service and I’m able to earn extra cash from her service despite my busy schedule
I totally agree with you .I’ve been subscribed to Lilly Baker copy trade service since early February, i would say its one of the best decisions I’ve made this year. She’s very professional and her skill set is magnificent. Much love from the UK🇬🇧
Love watching your videos. You're always very explicit about your income and about where you're at financially. Much appreciated. Keep doing good friend!
It depends on your goals. What kind of life you WANT to live. Extrapolate from your current situation, but plan for what you want to do... and it’s nice to build in a little buffer. As someone in debt, I agree.. cash is king.. use as little debt as possible.. it can make sense for home loans (I like the 15yr), but you need to be careful not to over extend.. if you’re paying your house note and still saving 50+% of your income... I’m sure it’s more than reasonable 😂
Who else watches these videos just for the insightful endings? I mean the rest of the video is great but the lessons at the end are the feel meat of the videos in my opinion. Great stuff. Def gonna be stealing this for personal use.
As a Canadian I think this is totally doable in Canada, but not in the US. Too much health care expenses and risk of uncovered medical bills/ prescriptions in the US. One medical expense can wipe out hundreds of thousands and potentially leave you unable to work too.
I could easily. Just buy a 3 bedroom tract home in a place like Anaheim California for around 750K to 800K and live off the rent which would be 36,000 to 42,000 a year.
This is very true, and while most don’t realize it, we all end up working part time in some form. 1 million is still a very large achievement and can certainly make retirement possible. Kuddos and stay awesome, Andrei!
I think you're right a million dollars is a lot of money. If you're looking at just standard expenses a million should cover it. What their point is bad things happen to good people which means the likelihood that something major will happen like cancer, a major heart attack, some catastrophic expense that will happen that cripples your finances is fairly likely. Not to mention I'm young inflation is going to continue to happen and who knows what else is going to happen in the financial world in the next 40 years which is probably my retirement date so yea a million dollars probably is around the minimum you want depending on your expenses.
FIRST!
Damn it
Hiii you are so funny
Damn you beat me
@@TheRussianConcussian LOL
What a great day
To become financially independent you don’t have to do anything extraordinary, you just have to NOT do a lot of what’s considered ordinary.
Sean Lei - Money & Minimalism everything is simple, and nothing is easy
even ordinary common sense is no longer common sense; I've met countless people who just don't know what I'm talking about when I talk to them about compounding money. They also don't believe the math if you show them what they can do if they consistently invest. It's a difficult road ahead for those of us involved in trying to teach. Not because there isn't a need, but because people are not receptive, in general. The focus is too strongly on "get rich fast" "retire by 30" - and it's cool, I get it...but people are doing nutty things to get there...like day trading with 400% margin. Or Selling put options on Robinhood...or buying penny stocks. It's all about rolling the dice rn. It's more important than ever for people at at level of financial success to bring AT LEAST 2 people up with them and ask them to bring up 2 more - and so on. There's a bit of an echo chamber on RUclips. people like me who are ALREADY into finance watch videos from Andrei J, Graham S, Meet Kevin...etc because we're motivated and in this circle; we've gotta reach the people who aren't listening. I'm not sure how, but there are a SHIT TON MORE of them than us in this circle.
If you can simply have time in the market... and not worry about timing.. the market you’ll be just fine!!
@@AmanBansil I just finished reading your post and your experience sounds exactly like mine. I have tried relentlessly to help others better manage their finances after I learned to do it for myself. People say they want financial security but they are not willing to make the sacrifices. They don't want to delay gratification. I try to help them develop a plan to eliminate date and establish a budget and some people they will see that it may take a few years to eliminate the debt and then they say that's too long so they don't try, they want a 3 month plan not a 3 year plan. I also tried showing people the numbers and they still don't believe me. I have purchased about 20 copies of the "Total money Makeover " by Dave Ramsey as gifts and people don't read it or they don't put the plan in action. Its frustrating trying to help people who don't want to help themselves.
marcus bailey ah Man U bought it for them. That’s really cool. I mean good karma for you, maybe they will read that one day. It’s frustrating for sure. There are also good endings. My wife for instance was a person who didn’t want to invest. Too scared. Held debt of about 10k constantly. After 10 years+ of me asking, she agreed. Within 1.5 yrs she has 70k invested. She has never seen that much in her own account. My Dad, never ever wanted to touch stocks. I kept asking for 1-2 years. He said “I am gonna retire soon, I don’t wanna worry about paying taxes on that money”. Finally, a month ago, he agreed after I tried to explain one last time. My solution was to get him in 70-80%bonds and rest stocks. I showed him WHY it works. WHY I buy the entire market. He set aside 50k to invest. He told me he got $5 interest in the last 2-3 years. I’ve only invested about 15k of it and I think I’ve already gotten him about $300 🤣 so, they can come around. Especially if they are important to you. Put in the time with them. My next target is my sister. Who says she wants to be a multimillionaire in 2-3 years but has almost no investments. So yea. Lol more work to do. This is exactly why I started my channel - to help people understand the power we have at our disposal. Good luck and don’t give up.
“Can you retire on a million dollars?”
Millions of Americans are going to have to retire on a lot less.
🌟 The Investor Center - Learn Investing absolutely, it’s crazy that the media says it’s not enough 😪
"Millions of Americans are going to have to retire on a lot less."
And everyone of them will get some social security.
If you only got $1,000 per month from social security then you are getting the equivalent of 4% of a $300,000 nut.
Basically, right out of the gate, due to SSI you have a huge leg up and only need to have an investment account worth $700,000, assuming you retire at an age that you can take SSI.
That would give most people, that start working in their late teens, 47 years to compound their investment dollars. You'd basically have to try to fail to not make it....or bang out kids when you have no money or education, thus are stuck in garbage jobs trying to feed kids, or being a single mom, or whatever other excuse people use and treat like a circumstance rather than a choice.
$2,000 per year for 47 years at 8% compound annual return rate (less than that of the long-term returns of the stock market) would put you at $906,000.
Clearly there is inflation, but you are also not going to only be able to invest $2000 per year for that whole 47 years. A tiny bit of discipline and the amount you invest would easily increase significantly.
not unless we keep making content and at least affect a few people - and ask them to affect a few themselves. The fact is, in America, ANYONE can be a millionaire if they start early enough. So, the delta is knowledge and trust in the process (in the math) that it will work. And not doing stuff that doesn't work...i.e. trying to beat the market consistency for 10-30 years.
if you live with self reliance - electric, water, growing food, yes. And have your debt paid off.
It’s all about time in ..the market and not... timing the market
The _FIRE community_ has entered the chat.
Hi, FATfire here...or...I should say wanna be FAT. FAT AF.
Aman Bansil thicc Fire
Fire community as in the one from
"The Last Air Bender", that one?
If you’re reading this, you’ll become a millionaire one day! 👍
Thank gawd I read this
Andrei Jikh I know right? 😂 Always love your joke haha
Woooo!! I read it too, time to retire a millionaire
YES! it worked!!! ok ok if you're reading this, you're going to get to 5M one day...let's go! :D
I hope so!!
Andrei's channel is like Tesla and my channel is like Hertz but with a cute dog lol !
Finance Turned Easy niiiiiice , I’ve got one of those!
lol ouch, I think I have a Carnival Cruise channel - it's kinda ok sometimes, but rn, it's just cruising along at the lowest levels it can...but but but, I'm not quitting...not even close. I keep making those videos in hopes that, some day, I, too, shall make magic happen.
Hi Andrei! Thanks for sharing this video! You're right, inflation is crazy and 1 million dollars later is going to be worth so much less. I love how you have great information and you incorporate magic into your videos! Keep it up! 😄
There's a profitable platform to invest less & earn more in crypto, Are you interested?
F.I.R.E. 🔥
Unfortunately there's a lot of baby boomers that will retire broke and their kids will have to worry what to do with them. Going to be more and more common in the coming years
Its my concern currently as my mother isnt quite retirement age but doesn't work. The nuclear family will be a lot bigger
Going to be even worse with people my age in their early 20s. Only 2 of my friends actually save money and the rest just live paycheck to paycheck
KUNGFLU FIGHTER Yeah, and the move away from pensions and to 401Ks isn’t going to help either. It’s going to be a mess unless our generation gets financially literate soon.
Yep I’m experiencing that right now.
Just here for the card tricks!
Adib Rahman 😯
The thing is that i cant listen at what he says when starts some cards tricks. I always try to understand how does that. I'm from Spain, so listening in english and watching his magic...what can i Say...can be dificult. 😅
Reticul Rugos Try listening to him without watching the video. Then you will see that his advice is the real magic. His card tricks? They are just sleight of hand.
same! and some advice!
This is why i love your videos, you are not here to sell us a product (sponsorship is not counted as selling), you are here to educate and do so with charisma and some magic(which is totally real).
"That man is richest whose pleasures are cheapest.”
--Henry David Thoreau
"The mass of men live lives of quiet desperation" - HDT
Andrei’s love of Yugi-oh is amazing. One might say LEGENDARY
I think instead of trying to retire with a million I would rather try and retire with a passive income of 100k a year and a house that’s paid off I would feel better about that
100k in passive income would require a 2 million dollar investment at 4%. Unless you supplement with social security later in life. Doable, but definitely a long journey
@@AndreiJikh 2.5 million right? 100k * 25!
That will be 80k
$100k/yr is a crazy high amount of money if you have a paid off house and aren’t putting away any money for investments anymore, especially if that 100k is after tax.
Honestly it’s pretty easy. Just work on royalty income. Just a thought. I’m getting ready to hop off of a 9-5 job and only focusing on building business and intellectual property!
As a back to the land homesteader willing to grow my own food and sheer my own sheep, yes I can!
My parents do that...they get everything they need from their home (except for milk I suppose). They will NOT move lol...they've put in a lot of work cultivating the land. Sorry, did you say Sheer your own Sheep 0_o
i believe this is the way to go
Ok but not everyone wants to live like that sir
@@AmanBansil haha, clearly I need to learn more about shearing
@@thatone_daniel it certainly is for me
Don't know about my 1 million dollars but I know that 1 million subscribers is just around the corner for you. Great video Andrei!
I’m about to turn 29 and all of a sudden life and reality finally hit me. I’ve been learning everything I can lately, between print on demand, dropshipping, stocks, anything to grow externally outside of my job. It’s good to hear you were around this age when you started to make drastic changes.
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I am SO glad you made this video pointing out how we keep hearing higher numbers for retirement, and that there are other motives behind that recommendation! I think your lifestyle drives how much you need for retirement, and of course that wild card of healthcare when you're older....
Champagne Cents thank you! Totally agree, it just depends but if you can’t do a million, you can’t do 5 😅
Literally my favourite YT channel right now
My dude,
You are making an immensely positive impact on my outlook. Thank you!
Phenomenal video and very motivating to work hard, save, and invest. Andrei’s been such a big inspiration for me and my financial journey! Thanks dude!
Can't wait til youre racking in millions my friend, you deserve it. Keep working hard bro.
all with time brotha - you can too. Just requires monthly investing into diversified index funds. boom
Sp happy to see your upload as I sit down to eat food after work. (12 am)
Im thankful!
one day, one day, I'll get this kind of a comment on my channel LOL one day XD .....
hes stuff is always on point! great to watch
Ahh, this video gave me pause Andrei. It may be too general and, perhaps, biased. I've actually been planning a video around this subject; I may do a reaction vid...if that's cool. Retirement age and lifestyle are highly subjective. One of the key things that retirees miss is that they completely underestimate medical costs and their leisure monthly costs. To start, we have to talk about 'where do you want to retire' - now, I'm with you when you say "move to a cheaper area" (paraphrasing) and some may do that, but others may not because they've built a life somewhere and they don't want to leave that place. Then, we can talk about ongoing medical costs, which go up as your age increases (including unexpected injuries etc). We can, then, also talk about WHAT would you do during retirement. What happens is that people have SOOOO MUCH free time...that they need to DO SOMETHING to fill that time. Well, you can only volunteer or watch Netflix for so long...you will eventually seek out more things to do, you'll want to spend time with people you love, you'll want to buy something for the grand kids, you'll want to take an extra trip you've been meaning to take ...etc. As your desire to increase activity starts to surface (since you're not working), you will eventually cause a larger drain on your monthly expenses simply because you're trying to live a fuller life during your waking hours. Now, to your point, it is TOTALLY POSSIBLE to live 30k or 40k a year; but you've got to, then, ensure that you really nail your expenses - and, here, I get your point about "if you can't retire with 1M, you can't retire with 10M"...I just thing that it's not that simple, it's not just a matter of WILL; it's the simple matter of LIFE BEING LONG AF. And I know we think "Life is short" and it is in many regards - we've all looked back and have said "man, where did the last 5 years go"; however, at the same time, Life is also LONG; quite a lot longer than we think. Anyhow, I would much rather have people AIM a bit higher and then have a bit extra than aim low and run out because they didn't realize their expenses were going to go up due to medical expenses and desired leisure expenses, which will naturally come as more and more humans come into your life. Great video, I don't know how the heck you get such a great quality shot...I've got 3 lights and a Canon M50 and *sigh* I'm working on it...bye!
My Grandparents are from Poland; so I got the whole go to school, get a good job, advice too. Us Eastern Europeans sure know how to work our selves to death!
$1million invested in CASHFLOW real estate @ 10% = $8,333/mo. Doesn’t include appreciation, depreciation or equity pay down by tenants. If you can live off $8,333/mo... congrats you can retire off $1million invested in CASHFLOW producing real estate 🙌🏻
I just had a debate with my dad about this. Thanks for more ammunition 😂
man of the land farming and lawncare hehe did he say you couldn’t?? Psh
A lot of people doubt it can be done, but I'm glad to see positive advices available!
I’m so glad you took the risk! My dad and I look forward to your videos every week for the magic and the information the world need more people like you! Thanks for being awesome Andrei!
same here every monday and friday im waiting to get that notification
One thing you're not taking into account: if you or your spouse need assisted living or memory care. This sort of expense would drain your expenses significantly. Great video as always! Thank you for all you do!
Andrei I like how you explain everything with such simplicity. You words are transparent and very educational. Thank you and keep up your wonderful content.
Kho, great comment - I'm trying to make my videos better. Would you say that you took anything actionable from this video? Is that important? There is a lot of information and humor, but what did you take away and do you have any plans to change any of your execution? Thanks!
I want to retire so bad. On my way though. About to buy a rental property with 20% down that should cash flow from day one. Also grabbing stocks at a discount with cash from my side hustle. Good luck to everyone else trying to get there long before 65!
Geographical arbitrage places like Alabama came to my mind then you blew that out of the water when you mentioned Thailand, Philippines, clearly I have to start thinking bigger.
My father passed away 2 months ago, he was 85 years old. The guy had less than $200k to his name when he passed. He lived frugally in the last years of his life and collected Social Security. I wished he'd took care of himself better, and used his own money more, and possibly lived a longer healthier life. Because all his children, myself and my siblings, we are all financially independent. We could have helped him financially if he'd only asked.
Yugioh!! My son won first place at YCS Pasadena right before the Roni Rona hit. He played in the dragon league division 13 and under. He qualified for the semi finals in Florida but all that got cancelled 😑
What are your plans Andrei? You mentioned you would like to be retired at 35, are you looking at taking advantage of geographical arbitrage? If so, where? And what would would you be doing with your time? Hopefully, you continue RUclips!
He’s already retired
Nick Oloteo - Financial Education I would say he’s more of an entrepreneur than a retiree.
I'm almost sure he's called himself retired at least to the part of having a 9-5 job and working for himself
ahhhh you asked the right question "what would you be doing with your time" - this question will get you into a rabbit hole of spending. But yea, everyone has their own number...I'm aiming at 5-10M - once you set a target, you will find ways to shoot towards it...so, my only input would be to not sell yourself short. Especially if you're young af.
@@alecgalbraith5604 yea I mean, when I retire....I'm not gonna sit around watching fukin Netflix all day. I mean...no. And it's ok to work a bit here n there. It's not the end of the world.
A lot of people NEED to see this video. Good job Andrei!
yea a lot of people NEED some financial education asap. All I see around me are people who are just too scared of investing, it's crazy. I'm tryina teach on RUclips, it's slow going. Will get there :D
2020: Can you retire on a million dollars?
2021: “I’ll take that loaf of bread... WHAT!? 1 MILLION DOLLARS?!?!”
Hahahaha! Money printer go brrrrr!
Ahhh... my Friday is now complete!
“Only buy something that you’d be perfectly happy to hold if the market shuts down for ten years.”
--Warren Buffett
I absolutely love your content. intelligent and concise with a splash of humor and magic. You have a recipe for success. I wish you the best of luck in your endeavors. keep it up.
Even though this is meant for Andrei - I got some lessons out of this comment too for my channel :) Although, I don't know any magic...hmm damnit, I gotta stop being so serious in my videos. Keep em short, full of content, and make em smile - I'm writing that down as a new goal
i agree! every video is fresh and great info
Assuming the 4% rule, $1 million should give you $40k per year in retirement and still give you growth.
Ever heard of the 0.5% reality?
My favorite method is to have a dividend portfolio valued at $1 million while having your yield on cost be 4%. That's $40k a year that will hopefully continue to grow annually, and you'll never have to touch the principal.
I grew up in Thailand. 100% recommend to live there and cool thing is they give you a baby elephant for free for a year to take care of! Last part is false but still amazing place to live.
😆
lol bro!
I want the baby elephant!
Love to share this same knowledge. Thanks for bringing light to this basic concept that isn’t spoken about in the regular media.
I love when notifications doesn’t even update until after you click on the video
That's so odd!
Being in a similar financial situation as Andrei, I don't see the word "retirement" as meaning anything to us. We've pretty much felt that way most of our lives due to our philosophies. I would simply define the goal as "financial freedom" instead. Hitting milestones like "millionaire" are simply a satisfaction and not a necessity. It may be astonishing to people how little you actually need to live a comfortable life.
It's crazy. I was down by $90 when I just started investing at the start of the pandemic. Now that ever since I've bought Tesla stock and other growth stocks, I've got out of the red and I'm in the green and up. And it's just getting started. Hopefully I can reach 100k. If I do, most likely I can see that million.
ANDREI’s videos are seriously top notch. Both in quality and also in content. Simply amazing.
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I love break downs like this. Not enough people plan for retirement. Want 120k a year then you need 3M want 40k your need 1M. Love thr video!
Another great video, thanks Andrei! :)
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I live a very comfortable life on about $20k/year in SF, one of the most expensive places in the US to live, and I don't even have a roommate. If you're frugal, don't carry debt and are fortunate not to have the burden of medical bills, retiring on even HALF a million is possible in most of the US. The media trains us to think we need things we don't. When I was stationed in NC, I lived on even less: about $8k/year, which means I could retire on just $200k using the 4% rule. Frugality is a super power.
Why would you want to pinch pennies for the rest of your life?
@@Oliver-bn7jt It really depends on what gives them happiness, because that is what its really all about. If pinching pennies doesn't make them unhappy, why not keep doing it? There is a type of satisfaction in utilizing your resources in the most efficient manner. I personally wouldn't want to penny punch for the rest of my life, but I'm not them.
yes, the issue is that it works for a certain situation; as one gets older, the expenses go up due to medical...also retired folk wanna do stuff...doing stuff costs money. And, not to mention having MORE TIME during retirement means even more trips...and, yea, you guessed it...expenses go up. If we're just setting goals, then we've gotta do better than 20-30k/yr...and we can...with aggressive investing while you're young.
@@Oliver-bn7jt you're touching on a topic which will blow up if you dig enough...people will find more things to do in retirement requiring $$$
The problem is that most watching this video aren’t going to retire for another 40 years, so by that time $1 mil won’t be worth even 500k in today’s dollars. Even with your lifestyle you’d be struggling to retire with that amount 40 years from now.
Hopefully. Half way there
You end up paying way too much in taxes when earning that amount of money via a job..
Seeing your success makes me feel all fuzzy inside. It gives me hope that I can as well.
You can. It's just the matter of doing this monthly - just CONSISTENTLY INVEST into the entire stock market, never panic sell...just keep buying. Keep increasing your monthly amounts. Magic will happen with that kinda intensity.
Yes you can! There are preferred shares/junk bonds that pay 8-20% based on risk/market conditions. That’s 80k-200k easy if you put in the work to find companies. One example is Dlng-PA two months ago way to many people sold and div yield was more than 20% and now the share price almost tripled on top. There are many more out there!
This man really is a ygo champion. Even more reason to follow u sir 🙏
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People are retiring everyday and living a regular live with no where close to a million dollars
Absolutely!
It depends what country you decide to retire in.
It's all about living below your means! I learn that more an more each day
I could certainly retire off dividend income from 1M!
That's what I thought until some of my blue chips started cutting dividends during the pandemic.
The man he returned with another gem 💎
You are so funny😂😂❣️❣️
I already know a lot of what you said in your video, BUT you are so entertaining I watched the entire video. Good work! You know how to explain, keep it simple and keep them glued to the screen :D.
Most people can do it....I’m not taking any chances tho 💸
haha going for more??
Andrei Jikh haha I’m going for way more....got mouths to feed 😭
@hadouken lol, plenty of ppl in the US retire on way, way less than $1 million
I read a book years ago called "your money or your life", In it they stressed Financial independence or FI, but didn't stress the retirement thing. Personally i appreciated this because While there are many that see FI = RE are missing the point that we humans need something to do with our days. Retirement was a human invented concept and I think that the sooner we get over it as a society the better, working our whole live to do nothing won't bring us any happiness, I like the 4% rule though, right up there with the 80/20 rule in being somehow crazy accurate.
I just need to collect my 7th dragon ball in order to retire , thanks
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA - best comment ever. Can I please have the 3rd wish? thx
Whats your onlyfans?
The production value of this video is amazing. Nice job and great information. Health care is the primary barrier to making things work. Great work on this video
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Yes you can if......
......You start with a billion dollars
Double Odd Josh r wallstreetbets?
@@AndreiJikh Don't knock it. $TSLA options have been very kind to me ;)
no bro, yes u can...AGE 18: SAVES $100 a month...put it all into SP500...never sells... = 1M at retirement. Simple as that. ok, if you missed that age, no worries, I did too...there's a calculation for you. if interested, lmk your age and desired level (in dollars) and when (in years) you'd like to hit that and I can do some quick math. It's possible; once you say it, it may just come true.
This is the way
Not a must you start out with that amount bro. You just need to start, take a step.
Becoming a millionaire is a learned skill, not a number. Great video Andrei
Investing, should be more like watching your plant grow, I have watched mine grow for 5 months now 😊 with a return of $100k profit of my actual investment
You must be kidding, how come you made such an amount investing
You're right, investing is more like having your money work for you and bring back the profit home, such a smart way of earning
Wow, I will love my money to work for me!
Show me your ways Garrett
Hey David, was it on the stock market?
It was through bitcoin friends, I invested with one of the best financial advisors and investors out there
I remember when I quit a job with no backup plan ... quite the learning experience! Key to affording retirement is to own a house with no mortgage...don’t let the banks take most of your money!
Can I? I wanna do it . I’m in my 20s and I want to do it before 40s
It's definitely possible! 40 year old millionaire is tough but you can do it
Hi Francisco, I'm 39 and 1.5M net worth...quick how-to? Ready? ok let's go: Immediately, open up a Vanguard account - input $2000 a month into that account each month (invest in SP500 INDEX FUND), keep doing it, regardless of the market. If the markets drop, try to invest more if you can. REINVEST all dividends, never sell. By 40, you'll hit 1M or more. MY STORY --> Now, I'm just gonna share how I fucked up and did this anyhow...I got STARTED at 26...I lost 300,000+ at 34 :( cuz I followed the wrong advice. But luckily, I had a house I could sell...I sold it...took 270k from that and 40k of some other money I had that survived the loss, I started investing HEAVILY starting 2015. I learned to negotiate at work...I got higher and higher salaries...I kept jumping Titles at work to get paid more. Last year, for instance, we did over 10k a month in investments. Year before that, over 7k a month of investments. I'm 39 now and I've hit 1.5M this year (it's going up and down cuz of Rona, but yes, we hit that mark)...I'm on target to be at 6-10M by 65...but but but...I'm all about accelerating so I've got a bunch things I'm trying to do to accelerate. (you can find my story on my channel along with advice) - I'm not a stock broker or anything; please do your own research, I base my strategy on what John Bogle advises (which is super wide 'buy everything/the entire fuking market' strategy...cuz 98% of the traders don't do better than SP500 over 10-30 year span and I'm tryina go through this for the long run)...good luck brotha.
It’s ain’t late to start
Is that a Audemars Piguet watch I spot?
Wait your telling me I can become a millionaire and a Yu-Gi-Oh world champion!
it's possible! But it's going to take everything
@@AndreiJikh u have to believe in the heart of the cards or markets but possible Haha
unbeknownstx so basically betting everything at once lol
@@kingarthur797 combo or ash? an hope for gg hahaha
lol right!
We need a video of you showing us your Yu-Gi-Oh card collection and your Deck that you were using when you were competing! I would take that over 1 million dollars!
I love the smell of Jerome Powell
Greg Talks Money - Stock Market & Options Trading smells like printer ink and paper fibers
Seems like you should talk about the biggest expense that can’t be avoided if you plan to retire early and that’s health insurance. You can pay houses and everything else off in prep for early retirement but you can’t live with out insurance. Private family will be over $1000 a month.
3.3% yield on qualified dividends and move to a low cost of living country like Colombia.
You can get a retirement visa there with only 753/mo in passive income so yes
I'd rather retire in safe and cheap countries like Uruguay and Peru.
The 4% Rule and yearly income multiplied by 25 to get to your Retirement number.... so simple and logical. Good message Andre! The world of finance and FAs love to over complicate personal finance and retirement, and charge criminal high fees in the process.
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Second!
I love the format of your videos, an introduction, then the intro of your channel, the content and then the conclusion
I was watching fox business news and the host spoke about an investor who took advantage of the current market and made over $475,000 within 3 months, so I’m aware it is a good time to invest, but as a beginner what strategies and patterns can I apply to my investment to make this much profit any tips or pointers would be appreciated guys.
@Eric Ryenard I came across this Lady Karina in an Article and they spoke very highly of her profession, I have been trying to figure out how to reach her, where can she be reached and how does she handle investments?
Market is super volatile if you can afford to lose that amount it's okay
always look up to andrei for inspiration when making my vlogs. thanks man!
Josh Teller 💪
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@@christiananathan3163 on a scale of 1 to 10, her service is a 10. Her strategies are incredible, she’s really impressive.
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very nice how do I reach her?
@@mehow910 You can reach her on telegram. Search for lillybakerofficial on telegram
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With the Reckless Greed Trap Card!
I love how you bring the real-ism 😂 with a touch of magic. I’m here for it!
Love watching your videos. You're always very explicit about your income and about where you're at financially. Much appreciated. Keep doing good friend!
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that inzektor playmat though!
Hope your face is doing better than mine 😂😂 that’s a million dollar face bro
It depends on your goals. What kind of life you WANT to live. Extrapolate from your current situation, but plan for what you want to do... and it’s nice to build in a little buffer. As someone in debt, I agree.. cash is king.. use as little debt as possible.. it can make sense for home loans (I like the 15yr), but you need to be careful not to over extend.. if you’re paying your house note and still saving 50+% of your income... I’m sure it’s more than reasonable 😂
Who else watches these videos just for the insightful endings? I mean the rest of the video is great but the lessons at the end are the feel meat of the videos in my opinion. Great stuff. Def gonna be stealing this for personal use.
You seem to be above everything a wonderful person to be around. All the best, cheers from Italy
Thanks Alessandro! Hope to visit Italy someday
As a Canadian I think this is totally doable in Canada, but not in the US. Too much health care expenses and risk of uncovered medical bills/ prescriptions in the US. One medical expense can wipe out hundreds of thousands and potentially leave you unable to work too.
I could easily. Just buy a 3 bedroom tract home in a place like Anaheim California for around 750K to 800K and live off the rent which would be 36,000 to 42,000 a year.
Golden Ticket here we come!!! 🎫
This is very true, and while most don’t realize it, we all end up working part time in some form. 1 million is still a very large achievement and can certainly make retirement possible. Kuddos and stay awesome, Andrei!
Such a great video, Andrei! Well done. Throwing your SS statement up - again - the transparency is impressive. 👊🏻👊🏻
I think you're right a million dollars is a lot of money. If you're looking at just standard expenses a million should cover it. What their point is bad things happen to good people which means the likelihood that something major will happen like cancer, a major heart attack, some catastrophic expense that will happen that cripples your finances is fairly likely. Not to mention I'm young inflation is going to continue to happen and who knows what else is going to happen in the financial world in the next 40 years which is probably my retirement date so yea a million dollars probably is around the minimum you want depending on your expenses.
Man what memories. I was at that nationals for yu-gi-oh
really? that sweet bro!
Thanks for the tips!
That side hair swirl, bruh got a swirly before making the vid! 🤣👍
lol!😀