Great episode. The part about not buying a souvenir magnet because it won't make you money in the future was weird though. Understood, he was just expressing that now he consciously thinks of all his purchases, which is great of course. Just be careful about living 100% in the future. Life is a journey...not to be too cheesy ;-) Play more good music instead of financial/FIRE shows when you're spending time with your wife ;-)
Such a great episode. I related to so many of his mistakes! Coming from another country and having no clue about credit I too lived with credit cards as if someone else was going to pay them off while in college on a scholarship with no way of earning money! I cashed out my 401k, well not cashed it out I simply spent the check when they sent it without rolling over. It has been the last 10 years that I have been going hard on my savings. I did max 401k for the last 20 and funded the Roth a few years, way less than I could. Current me would love to kick pass me in the butt:( But a few real estate hacks live and flip without knowing that was what I was doing and I was able to buy my current home. I did buy a ski place and held it too long but converted it to a rental for 3 years and sold at a loss but was able to get some cash from taxes since it was an investment vs. personal use. COVID introduced me to RUclips outside of the other silly videos and I went down the financial rabbit hole. My CFP I have had for 6 years tells me I am investing in both pre and post tax almost 55% of my income and after 18 months when my mortgage is paid off that will jump to 75%. I have a 3 year emergency fund which I know is overkill but growing up in poverty colors all of my money decisions and I like having a huge cash cushion. It is in a high yield savings earning 3% a year. Anyway this was so inspiring I am constantly learning and plan on retiring in 9.5 years and moving to a lower cost/better living country, Portugal. Keep up the great work!
I had discovered your channel the other day and so grateful for you guys to motivate people including myself especially this guy… so inspiring.. Thank you so much❤️
Need to be careful with QYLD and other cover call etfs and make sure you understand what happens in a downturn. Also understand how the dividend is taxed, it is taxed as income not qualified dividends.
I was thinking the same. Sadly, QYLD is at an all-time low as of December 2022. 11.5% dividend yield is just too good to be sustainable (unfortunately). The essence of the story is that Saul is still on a learning journey, but most importantly, he's changed his behavior from spending to planning and investing. Well done, Saul!
You all do such a wonderful job sharing information. His story is very familiar in this country. For XYLD, QYLD, and RYLD...I also hold these ETFs, however i hold them inside my Roth IRA with 100% dividend reinvestment unitl retirement (about 6 years).
Nice show. I'm wondering if you covered zero percent cap gains. I did not here it discussed but maybe I missed it. I am thinking about converting those traditional 401k dollars and paying no tax into a Roth IRA. I didn't hear this discussed.
I wonder how his ETFs are doing now. Are his investments diversified enough to weather a stock market crash/dip? I'd like to see an episode on FI without the stock market.
Hi Scott. I work for UPS and get a 5% discount on the company stock. My question is... If I sell the stock after 6 months, can I put that money I've made into an index fund without paying taxes? If so, how would I do that? Thanks.
A powerful Mexican. What a gentleman. Enhorabuena desde España. All the best from Spain. 🌍🌎🌏🌍🌎🌏🇲🇽🇲🇽🇲🇽🇲🇽🇲🇽🇲🇽🇲🇽🇲🇽🇲🇽
Great episode. The part about not buying a souvenir magnet because it won't make you money in the future was weird though. Understood, he was just expressing that now he consciously thinks of all his purchases, which is great of course. Just be careful about living 100% in the future. Life is a journey...not to be too cheesy ;-) Play more good music instead of financial/FIRE shows when you're spending time with your wife ;-)
I found out I have an uncle called Sam. Hilarious 😂. Very nice story btw!
Excellent interview! Thank you BPM!❤
This guy is the most honest and incredible story!… God bless him & family! ❤🙏 watching from NY
What an awesome story. Thank you for sharing.
Such a great episode. I related to so many of his mistakes! Coming from another country and having no clue about credit I too lived with credit cards as if someone else was going to pay them off while in college on a scholarship with no way of earning money! I cashed out my 401k, well not cashed it out I simply spent the check when they sent it without rolling over. It has been the last 10 years that I have been going hard on my savings. I did max 401k for the last 20 and funded the Roth a few years, way less than I could. Current me would love to kick pass me in the butt:( But a few real estate hacks live and flip without knowing that was what I was doing and I was able to buy my current home. I did buy a ski place and held it too long but converted it to a rental for 3 years and sold at a loss but was able to get some cash from taxes since it was an investment vs. personal use. COVID introduced me to RUclips outside of the other silly videos and I went down the financial rabbit hole. My CFP I have had for 6 years tells me I am investing in both pre and post tax almost 55% of my income and after 18 months when my mortgage is paid off that will jump to 75%. I have a 3 year emergency fund which I know is overkill but growing up in poverty colors all of my money decisions and I like having a huge cash cushion. It is in a high yield savings earning 3% a year. Anyway this was so inspiring I am constantly learning and plan on retiring in 9.5 years and moving to a lower cost/better living country, Portugal. Keep up the great work!
Where did you find a 3% High Yield Savings Account?
That's great a quote! It's not how much money you make but how you manage it!
I had discovered your channel the other day and so grateful for you guys to motivate people including myself especially this guy… so inspiring.. Thank you so much❤️
Love the podcast, writing ✍️ notes.
I didn't realize what l really had. I revised my goals and better moves
Thank you
Wow ! what an incredible story , It’s so helpful for many people . I really admired what he’ve done to turn things around , love it !
Excellent episode. Volume was super low though had to crank my volume to 100% to hear you and guest.
This is such an inspiring story. Thank you!
Great story. Very good information to learn. Thanks.
Need to be careful with QYLD and other cover call etfs and make sure you understand what happens in a downturn. Also understand how the dividend is taxed, it is taxed as income not qualified dividends.
I was thinking the same. Sadly, QYLD is at an all-time low as of December 2022. 11.5% dividend yield is just too good to be sustainable (unfortunately). The essence of the story is that Saul is still on a learning journey, but most importantly, he's changed his behavior from spending to planning and investing. Well done, Saul!
You all do such a wonderful job sharing information. His story is very familiar in this country. For XYLD, QYLD, and RYLD...I also hold these ETFs, however i hold them inside my Roth IRA with 100% dividend reinvestment unitl retirement (about 6 years).
This great and honest history. Keep on Greeting from Norway
Great story thanks!
Such a good episode!
I enjoyed this episode. Thanks.
What ETF gives 7% dividend?
Wow - awesome episode
Nice show. I'm wondering if you covered zero percent cap gains. I did not here it discussed but maybe I missed it. I am thinking about converting those traditional 401k dollars and paying no tax into a Roth IRA. I didn't hear this discussed.
Where can I put the money I have in my business saving account that can be liquidated whenever I need it?
Muy bueno. Gracias!!
Ya lo creo. Un ejemplo.
Ya lo creo. Un ejemplo.
I wonder how his ETFs are doing now. Are his investments diversified enough to weather a stock market crash/dip?
I'd like to see an episode on FI without the stock market.
Hi Scott. I work for UPS and get a 5% discount on the company stock. My question is... If I sell the stock after 6 months, can I put that money I've made into an index fund without paying taxes? If so, how would I do that? Thanks.
The only way to not pay taxes today is if it's in a 401k or IRA.
What is a ESPP?
Employee Stock Purchase Plan. Purchase your company stock at a discount, often through regular payroll deductions.
What an awesome story. Thank you for sharing.