This may come across as being a jerk, but I think you need to hear it. You obviously have a problem lending out so much money. You’re not a bank. You gotta stop. People are certainly taking advantage of you. Any financial difficulties you face are not helped by your poor choice in lending out so much. You have a generous heart and we all recognize that. We just care about your wellbeing.
Yeah what this guy says. Don't wanna be a ahole to. But you need to hear this. You just complaining you got taken away 500 dollars. Now you already lend allot of money again. Dude......stop lending money to people. Let them get there own life together. As said above your not a bank. And clearly peope take advantage of you. Stop making poor choices for yourself and start thinking more about your own life. We care about your wellbeign. But dont come complaining in videos if you do not wanna learn from own mistakes.
Hey man, I suggest talking to a financial advisor. There are many factors here that are not accounted for. Just don’t want you to waste time and money now, to find out there is a better way to invest. 4 to 6% is not a great return. Also, I would suggest diversifying to mitigate potential losses. Remember tax on the back end will be higher and inflation is guaranteed.
I’m glad you want to secure your financial security. Just a kind word of advice, like my mom always says; “you cannot fill someone else’s cup if yours is depleted.” Lending money is a personal choice, but if half of the time we don’t get it back, it hurts us in the long run. I don’t want people to get the idea that you’re a bank. It’s okay to be friendly but more important don’t let others take advantage of your kindness. ❤
I’m no financial expert but did realize some things they don’t tell you on those calculators. The amount shown when you retire gets taxed so cut the amount by almost a 1/3 on the safe side. You also get taxed on the gains you make throughout the years so cut that amount again. So it says you’re retiring with 500k it’s more like 375k after you pay all the taxes on it. A Roth 401k will tax you now instead of when you retire so that helps but I hate those calculators when they don’t include those factors
Honestly, the compound interest calculator is a 100% best case scenario. Let's say the interest changes in the next few years or 1.2m in 25 years time is significantly worth less then. Also factoring in if you get ill or cannot work to put that 20k annually into it. It's a bit of a pipedream. I would start investing in shares. It's a little more high risk but put the research in, look at upcoming businesses or some that are doing well. There are plenty out there that will easily bring back upwards of 10% annually.
Good job thinking about personal finances! the money guy show on RUclips is a great channel to follow! Are there any hospitals near you? There are many great jobs that work all shifts (like you are already used to) that you can build careers in with limited schooling. Things like housekeeping, supply chain, sterile processing & more are all places in a hospital that you can get experience and career growth
I don’t know if it’s the same in Canada as it is in the US, but you may be able to take a brief expedited training course to get certified as a sterile technician and enjoy hospital benefits. Its such a great field to work in!
Longlegs was really good in my opinion, great cinematography and interesting story. It wasn't scary in a "boo" type of way but was disturbing and had a couple really gross special effects scenes
Another great vid! I myself have been thinking about the finances a lot lately, as I plan to be selling my house soon. It feels good to have a plan in place, that's for sure!
Hi. Yes it has changed as I am not planning on going full time on RUclips anytime soon as I need to save money for retirement and even if I went full time on RUclips I still wouldn’t make enough money for that.
Look into ETF stock investing. If this is money you plan to retire on, you will not lose money. No one has ever lost money on a >20 year investment in the S&P 500, and historically it has always well-exceeded 5% returns over the long run. Yes, in the short term you may lose money. I bought a bunch of stock just before the 2020 crash and it immediately lost about a third of its value. But now, 4 years later it's worth more than double. Don't worry about the fluctuation, don't even look at the value of the account- it will increase. As long as money has value, the businesses running the economy will grow over time, guaranteed.
@@Simple5005you can also look into target retirement account mutual funds that change your investment selection to safer assets as your approach retirement age
This may come across as being a jerk, but I think you need to hear it. You obviously have a problem lending out so much money. You’re not a bank. You gotta stop. People are certainly taking advantage of you. Any financial difficulties you face are not helped by your poor choice in lending out so much. You have a generous heart and we all recognize that. We just care about your wellbeing.
Thank you for your concern.
Yeah what this guy says. Don't wanna be a ahole to. But you need to hear this. You just complaining you got taken away 500 dollars. Now you already lend allot of money again. Dude......stop lending money to people. Let them get there own life together. As said above your not a bank. And clearly peope take advantage of you. Stop making poor choices for yourself and start thinking more about your own life.
We care about your wellbeign. But dont come complaining in videos if you do not wanna learn from own mistakes.
@@mf3646 Thank you.
Hey man, I suggest talking to a financial advisor. There are many factors here that are not accounted for. Just don’t want you to waste time and money now, to find out there is a better way to invest. 4 to 6% is not a great return. Also, I would suggest diversifying to mitigate potential losses. Remember tax on the back end will be higher and inflation is guaranteed.
Hey, thank you.
I love that this video has basically 5k views in less than two weeks. Great video! Spending updates are 🐐
Thank you.
I’m glad you want to secure your financial security. Just a kind word of advice, like my mom always says; “you cannot fill someone else’s cup if yours is depleted.” Lending money is a personal choice, but if half of the time we don’t get it back, it hurts us in the long run. I don’t want people to get the idea that you’re a bank. It’s okay to be friendly but more important don’t let others take advantage of your kindness. ❤
Thank you for your help.
I’m no financial expert but did realize some things they don’t tell you on those calculators. The amount shown when you retire gets taxed so cut the amount by almost a 1/3 on the safe side. You also get taxed on the gains you make throughout the years so cut that amount again. So it says you’re retiring with 500k it’s more like 375k after you pay all the taxes on it. A Roth 401k will tax you now instead of when you retire so that helps but I hate those calculators when they don’t include those factors
thank you for this, you're right, I didn't calculate the tax.
Honestly, the compound interest calculator is a 100% best case scenario. Let's say the interest changes in the next few years or 1.2m in 25 years time is significantly worth less then. Also factoring in if you get ill or cannot work to put that 20k annually into it. It's a bit of a pipedream. I would start investing in shares. It's a little more high risk but put the research in, look at upcoming businesses or some that are doing well. There are plenty out there that will easily bring back upwards of 10% annually.
Hey, thank you very much. Maybe I should invest in higher yield options.
I think you think too much brother. Chillax. Stop lending money. Save what you can. Pay your bills. Relax.
Thanks for the advice.
Good job thinking about personal finances! the money guy show on RUclips is a great channel to follow! Are there any hospitals near you? There are many great jobs that work all shifts (like you are already used to) that you can build careers in with limited schooling. Things like housekeeping, supply chain, sterile processing & more are all places in a hospital that you can get experience and career growth
Hi, thank you. There is a hospital about a .5 hour drive from where I live. That’s a good idea.
I don’t know if it’s the same in Canada as it is in the US, but you may be able to take a brief expedited training course to get certified as a sterile technician and enjoy hospital benefits. Its such a great field to work in!
@@lizlopezsmiles Thank you. I might look into that.
Longlegs was really good in my opinion, great cinematography and interesting story. It wasn't scary in a "boo" type of way but was disturbing and had a couple really gross special effects scenes
That’s a great review, thanks.
Another great vid! I myself have been thinking about the finances a lot lately, as I plan to be selling my house soon. It feels good to have a plan in place, that's for sure!
Thank you. Yes it would be good to have a plan in place.
Wait, didn't you get ripped off of 500$? And now you lent even more?
yes, we will see if I got ripped off again .
@@Simple5005 i hope not, you have a lot of faith in people. hopefully they dont betray you because you seem like a pretty honest person :)
@@mariop7556 Wow, thank you. Actually she did pay up today, they both did. But I think you're right, I should stop lending out so much.
@@Simple5005 Wait, the woman who got your 500$ paid up today??
Has your opinion on quitting your job changed or you are still thinking about doing youtube full time ?
Hi. Yes it has changed as I am not planning on going full time on RUclips anytime soon as I need to save money for retirement and even if I went full time on RUclips I still wouldn’t make enough money for that.
I can’t believe your internet is almost 6x the cost of your electricity or your phone bill!
@@JustMe_ASMR Yeah it’s expensive. Fast but pricey.
Can you do a steak and asparagus video while reading about Marcus Aurelius
I will consider it. Thanks.
Get the money you lend out, paid back into a seperate savings account ? And dont go into it..just an idea ! ....i love your chanel 🤗 x
Thank you. That’s a good idea.
Dude you really like pasta that's all you eat
That's a good point.
Hey I'm walkin' here
Hey, Eric.
Do you not get a state pension?
He’s Canadian
We get Canada pension plan but it’s not much.
hi
hi there.
Can you shout out my girl kay d Adams
I’ll consider it, thanks.
Go into trades great pay and pension
Thanks.
First one for once x
Nice.
Look into ETF stock investing. If this is money you plan to retire on, you will not lose money. No one has ever lost money on a >20 year investment in the S&P 500, and historically it has always well-exceeded 5% returns over the long run. Yes, in the short term you may lose money. I bought a bunch of stock just before the 2020 crash and it immediately lost about a third of its value. But now, 4 years later it's worth more than double. Don't worry about the fluctuation, don't even look at the value of the account- it will increase. As long as money has value, the businesses running the economy will grow over time, guaranteed.
Thank you. That is good to know.
@@Simple5005you can also look into target retirement account mutual funds that change your investment selection to safer assets as your approach retirement age