There's a huge reset of wealth right now, commercial real estate is down at least 30% same with the stock market, high tech with huge multiple variations are down more than 40%. So is this a good sign to buy stocks, or do I just hold cash? I own a house already
transfer of wealth usually occurs during market crash, the more stocks drop, the more I buy. bear it in mind that investments are subjected to risk, hence it is ideal to seek guidance from an advisor unless you a pro yourself
Well said, I learn from youtube but got in touch with a well qualified advisor ever since losing out on my investments due to 2020 pandemic crash. At once, I started all over and after subsequent investments to date, I'm only 25% short of my first $1m.
@@mette-lo truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a financial advisor... mind sharing info of this professional guiding you please?
I've shuffled through a few advisors in the past, but settled with ''Sophia Verdekal O'neal. You'd most likely find her basic info on the internet, she's well established with over two decades of experience.
your response suggests a person of benevolence, just inputted Sophia Verdekal O'neal on my browser and immediately came across her consulting page, top-notch qualifications... very much appreciate this
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
Making touch with financial advisors like *Janice Isaac Owen* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
I have a $726/mo car payment. I had the money to purchase my car with cash, but Mazda gave me a 0% interest loan, so I'd literally be losing money to decline and pay the cash up front rather than do what I did, which was place the money into a HYSA, connect the car payment to that account, and set the auto pay and forget about it. Now I'm gaining monthly interest on the free loan they gave me.
I run an social media account on other platform. Similar to Humphrey, I use 'nobody talks about' title a lot to make people click watch so we can increase our net worth and you lost your time.
Same! I purchased a Toyota Camry for 13k cash and then someone hit me and totaled it. I then purchased a 2005 Honda accord for 6k cash and it’s been a blessing.
You definetly need a Mercedes or a BMW. These cars offer a level of saftey you don't get with a civic. When you got the money you pay for extra protection. I've never ooked at those cars as a status symbol. Just bullet proof junkers.
You dont, I got a bmw last year and realize though it is nice it drives just as well but the feeling of overpaying for something is not good. A nice toyota is good enough.
Humphrey, your financial advice is great as usual. I'm in my mid eighties and because I figured out on my own to do what you are sweetly suggesting others do, I live comfortably in the same very expensive city you do. I occasionally amuse myself by walking into a store knowing that I can afford to buy everything in the entire place. That is real status and I take pleasure in the knowledge that nobody around me even knows it. What makes it easy for me not to buy expensive crap I don't need, is to ask myself how many shares of Apple or Nvidia I could buy instead knowing that when the buying opportunity comes along I'll have the money available. However, fifteen years ago I did buy myself a nice almost new BMW. It was a dealer demo with 7000 miles on it at a 25% discount. I got a great car, a great deal, a wonderful ride when I'd rather not walk or take the bus, and status thrown in as a bonus. It will probably outlast me.
Good for you! I had a coworker, who was in her 80s, always complained she had to work, but I was thinking in my head that she made a bad choice. She had a good job for a long time, but it was her who didn't save $. I don't want to work because I have to, but I'd love to work because I enjoy it when I get much older.
I am 33, I dint even own a drivers license yet 😂 I always use public transport. From your list the only thing what I buy is an expensive smartphone but I mostly tend to keep it until it no longer get software updates. I use the s21 ultra now. What is almost 4 years old now.
Depending on the product, paying for a higher quality item can cost you less in the long run because you don’t have to replace it. Tools and other gear often fall into this category. Buy once, cry once.
Great video. All these are true and unfortunately so many Americans are unprepared for the future, leading to serious financial consequences that no Coach purse can fix.
The way your crunching the numbers is the exact way my brain has worked my whole life... I have done this since I was a young teenager... If you think this way with money, you will always have!
A huge amount of people can't fathom the idea that none of the shiny cards at the dealer are appropriate for them. In an ideal world, the sellers would explain budgeting issues and let many of them know that they responsibly require a used car.
For cars, a Camry/Accord is a noticeable step up from a Civic/Corolla, but is the next level of luxury really worth tens of thousands additional payments? I doubt it. If youre an average joe nobody cares about your car, you're not impressing anyone.
As a punk rocker, I have dedicated over 10 years of effort into my patch vest and pants. This has saved me thousands on clothes. My outfit is memorable to people. I have over three miles of floss(stronger than regular thread) see into the vest alone. I have maybe in total paid at most $400 dollars to maintain this, for a decade. I was homeless for much of this time and those patches saved my life. If I wasn't known as "that punk rocker guy" I probably wouldn't have ever had the social capital to escape objective poverty. Also the thought of buying a first class ticket is very laughable. I fought gang bangers and rats under I-5, buy the economy seat.
it's a matter of perspective. for like... 99% of people, first class doesnt make sense other than a really really special occasion like honeymoon, or a major anniversary. (think 10th or 25th). But, if you are someone that makes say... $50k a day, a first class ticket for 2k would seem rather affordable to you since you would make up that money by the time you landed.
You have to look at some of this stuff in a large picture though. I drive a Tesla Model 3 (I have for 5 years now). I save on average $120 from the cost of gas compared to the energy cost. I charge almost exclusively at home. A new Toyota Camry costs an average of $530 a month. My car payment is $600, so it's actually cheaper to own a Tesla Model 3 than a Camry, and yes I put the same down payment for both cars in the calculator. A lot of people would say Tesla's are luxury cars, but it's actually cheaper, and imo, way nicer.
I've driven s-boxes for years and I find used cars online all the time for 20k that I would love to drive. I cannot imagine spending 40, 50, 60k on a new car when they depreciate so fast. Just wild.
I remember seeing a guy in economy sitting between two HUGE overweight men. He was suffering, couldn't move an inch, and neither of the two men expressed any sympathy. Fully booked flight, so even though he wanted to change seats or upgrade to first, he couldn't. 😂 When I'm in Asia, I don't mind flying economy. In America, given how big everyone is, first class all the way.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera you're a miracle.
I think the 1/10th car rule is a little out dated in my opinion. I bring in roughly 125k a year so that would mean I could only "afford" a $12,500 car. I currently have a Tacoma I bought cash for 16k so I technically couldn't afford that. Say you want an average used suv with lower miles your looking at roughly 30k a year on the cheaper side of things. So for a household where both partners need a car and lets say they both have similar priced cars of 30k the house hold would need to make 600k a year just to "afford" the 2 30k cars. When if someone with a 250k household income could afford to buy both the cars after a year by just saving most of their wants category of their budget. I do agree with car payments and expenses should not exceed 10% of income I think thats more than fair.
It is when people veiw you as that type of person. That pressure is always there. You dress like a bum that pressure never exists. You get no attention. Some people thrive for attention. When they don't get any their suicidal.
Good vid Humphrey. I'm inclined to think that the only reason anyone SHOULD buy anything from the "status" category is to flip it for a profit later. Other than that, there's absolutely NO reason to own it (then again, maybe that's just you and me).
may I add, unnecessary credit cards with hefty annual fees. I had an AMX Platinum but decided to close the account after one year (several reasons including an awful lounge) and one of the sales points made to me to keep the card was "the prestige". A card is a tool, nothing more
Concerts and sporting events have out priced what the experience is worth. Sadly, people will still pay a ton of money to spend most of the time watching it on a screen.
If you're buying something to show off you're faking. It's only when you don't care what others think whey you buy fancy that you actually have the status you're craving.
I suppose for domestic flights, it doesn't make sense to travel first class. However taking ultra long flights like from Singapore to the US I would pay more if I can afford for the comfort level it gives.
FWIW the "international first class" pictured is actually Emirates' older business class on their 777s. International first class these days should get you something akin to a cubicle or even a closed roomlet. Source: I fly Emirates business regularly (someone else paying for it, of course). OTOH have never owned a car, and my phone is an Android, upgraded every 3~4 years.
My wife and I used to fly first class domestically, but once the cost delta per hour for the upgrade exceeded our hourly income we stopped that as it’s not worth that much to us. We did splurge on first class on an oversees flight a couple years back with the lay down seats, that was also not worth the expense in our opinion.
Excellent video but Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
If you have the money, spend it, and if you are using your credit cards to pay for goods and dont have the money to pay the credit card off, don't spend the money you don't have.
08:06 - It wasn’t exactly bottle service, but I had a friend who always ridiculed me whenever I wanted to save instead of buying the latest game to play with them or stay in, instead of go out. Needless to say I should of definitely took that as a red flag lol
I'm a large in stature person, and I don't fly very often so one thing I tend to splurge on is First Class if I can afford it and it makes sense. It's more comfortable for me and my broad shoulders aren't encroaching on the seat next to me.
that makes sense Matt. You must get alot of ladies with the broad shoulders. And it is considerate of you. But for most people first class doesnt make sense!
@@RubyRider5 You really think this stuff isn`t already all over the internet? No one talks about how a car is a waste of money? This is brand new info huh?
@@Mike-dd8bdI mean what’s your net worth and what kind of car do you drive 😂😂😂why are Americans poorer and poorer every year like clearly this isn’t beaten into your head hard enough because we get poorer and poorer every year because of our own decisions 😂😂😂common sense ain’t that common I guess
Well, what makes me an outlier I guess! I am 57 year-old English immigrant, with zero interest in tech or stocks, and yet I am 110% committed to Bitcoin. I would describe myself as an extreme conservative/libertarian. I have been involved in UK politics for some time, and the main thing that drove me to study Bitcoin and ultimately recognise its value to Humanity was the threat posed by an over-weening government, first in the UK and lately in the US also. I regard the CBDC as the final brick in the wall of the totalitarian prison the world's governments are building for us. And Bitcoin is the ultimate defence against a tyrannical government.r.....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Francine goes deeper than just looking at surface-level trends. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..
If you're going to use that table on buying a car. Use your after tax income. Not your before tax income. I could not pay what you showed per month with my before tax income and still save money. After tax, yes.
yeah, all those things I will never spend money on and couldn't care less... except although I will never buy a new phone each year I did upgrade to the iPhone 16 pro from a iPhone 12 Pro... 🙄
Why does everyone always talk about saving money and investing in for retirement. What about the now, so are you going to suffer to save money for when you get old? Enjoy life as it moves forward because you might not be able to use all that money that you save. Try to save when you can, but enjoy life.
I have to disagree with your views on luxury goods. I have a Lexus and a Rolex watch. After I got my watch, I was taken a lot more serious. I was able to close deals more easily and business owners took me a lot more serious. I am 33 years old and make roughly 250k a year and net worth 1.6M. And having nice things actually made me work harder in life.
yeah, it totally couldn't have been the experience and age in the field you gained grinding for those items. Like say you made 1000 extra deals, double the normal, and it took you 3 years. Now is it the watch or the fact that you've established yourself and have double the expected amount of experience?
@@chesspwn7457 yes. It’s the same thing as showing up to an interview with gym shorts vs a night dress shirt. Dress to impress is very true here. You would dress nicely on a first date right? You want to make a good impression.
@@Warrior_Resisting_Colonialism how so? I have a higher net worth at my age than the average American household. You can still save money and buy the things you want. Tomorrow isn’t promised, and you should spend on the things you enjoy. Spend 25%-35% on wants and needs save the rest. Not that hard.
I find it interesting that you talked nearly exclusively about iPhone/Apple but conveniently ignored the fact that iPhones are worse than Andriods in every metric and more expensive. The only reason to buy an iPhone is status...
I asked my coworker that looks like a comfy pair of shoes what is it? Birkenstock, $150. Never spent that much on shoes. I know inflation went up but dang are shoes >$80 now lol😅
The same could be said for cheaper shoes tou domt need to spend $150 or more on sandals or mules just because tbeyre birks and they supposedly last thats just rarionalizing a status purchase. To each their own not judging but its not an investment at all @BeautyToTheMax99
Spending money on quality is perfectly okay. My mom has worn garbage thrift store shoes her whole life and now has foot pain in her 60s. I'll gladly pay $160 for a nice pair of brook's if it means I won't have knee and joint pain from running 25 miles a week and living an otherwise active lifestyle.
I haven't fallen prey to these, mostly because it's just not the kind of person I am. But I can share what I do instead. Designer goods: get something that has purpose instead. Do you do MMA? Get some comfortable rash guards that you can just wear on the daily. Maybe ones that have a cool pattern on them. I like the Spiderman ones most. Cars: I LOVE LOVE LOVE public transit. Sometimes I'll log what a car payment would be, calculate how much I spend on travel on my bike, on the bus, or calling a taxi/rideshare, and put away what's left. Otherwise, I'll just carpool with friends and pay a part of the fuel cost. Keeping Up with the Jones's: Outside of experiences, I really like doing something creative. Why buy cocktails when you can learn to make them yourselves? Or rather than going to a restaurant, getting together at someone's place and trying to make it. First Class: I just think about what I would want to put that money towards, and immediately, it's not worth it. Though in international flights, I always sit at the front of the cabin or in emergency because I'm a tall person that needs the leg room. Latest Tech: Well, I'm a linux guy. I like messing with things to the fullest, and on most of these fancier gadgets, it seems like I can't do that, so that's a turnoff for me.
you can get status in other ways rather than material things like doing things for the community, organizing humanitarian events, helping your local church or homeless shelter, running for your neighborhood board or your house of reps.
I do drive a luxury car, but I can afford it. You can buy a 2-year-old luxury car with about 30K miles for about $30K. I drive the car for about 10 years, and it does have some residual value, so I depreciate about $2500 a year. Total cost shows as 4.11% of my income, one of the larger items in my budget.
My Honda Accord has lost ZERO value over 10 years! And I know I've also saved a ton on maintenance / repairs! My salary allows me to purchase much more, but I really don't see any reason to bother
I just meant that we didn't have to go out and "hunt" and live in a cave. I think that was the meaning behind my phrasing. But yes, I understand cost of living can be challenging.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Grace Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Just came to guys one second in. My guess is "Cars" All you finance channels will die so live it up while you can. All this rehashed 'content' is doing one thing for me: increasing my list of blocked channels. K.... figureing if I'm right... aaaand it's Carsl!!!! Thanks for lettimg me know to filter your channel.
What Humphrey is failing to understand here is that the new iPhone can show me a couple extra wrinkles on my face that my current phone cannot. Keep spending kings.
There's a huge reset of wealth right now, commercial real estate is down at least 30% same with the stock market, high tech with huge multiple variations are down more than 40%. So is this a good sign to buy stocks, or do I just hold cash? I own a house already
transfer of wealth usually occurs during market crash, the more stocks drop, the more I buy. bear it in mind that investments are subjected to risk, hence it is ideal to seek guidance from an advisor unless you a pro yourself
Well said, I learn from youtube but got in touch with a well qualified advisor ever since losing out on my investments due to 2020 pandemic crash. At once, I started all over and after subsequent investments to date, I'm only 25% short of my first $1m.
@@mette-lo truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a financial advisor... mind sharing info of this professional guiding you please?
I've shuffled through a few advisors in the past, but settled with ''Sophia Verdekal O'neal. You'd most likely find her basic info on the internet, she's well established with over two decades of experience.
your response suggests a person of benevolence, just inputted Sophia Verdekal O'neal on my browser and immediately came across her consulting page, top-notch qualifications... very much appreciate this
I'm glad you made this video, it reminds me of my transformation from a nobody to good home, $89k biweekly and a good daughter full of love..
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
Hello, I'm a Doctor from Scotland, how do you make such amount? I'm a born
Christian but sometimes I feel so down of myself because of low finance but I still believe in God.
Making touch with financial advisors like *Janice Isaac Owen* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Waking up every 14th of each month to *210,000 dollars* it's a blessing to I and my family... Big gratitude to *Janice Isaac*
I make around 100k / year, in a city with average cost of living, and having an $800 car payment sounds insane to me.
Having any car payment is insane
@@d_all_in true lol
I have a $726/mo car payment. I had the money to purchase my car with cash, but Mazda gave me a 0% interest loan, so I'd literally be losing money to decline and pay the cash up front rather than do what I did, which was place the money into a HYSA, connect the car payment to that account, and set the auto pay and forget about it. Now I'm gaining monthly interest on the free loan they gave me.
@@satsujin22 sounds great until you crash your car and have to pay out the full value of an upside-down 72 month loan.
@@satsujin22 i think you forgot to factor in depreciation into that calculation, champ. Which is roughly ~35% in the first 3 years from new.
Actually,everyone is talking about.....lol
I knew as soon as I saw the title it was clickbait, but what did I do? Click on it! Because I’m an addict… I need help. Help me.
Well NOW im talking about it! lol
Exactly what I was thinking. 😂
I run an social media account on other platform. Similar to Humphrey, I use 'nobody talks about' title a lot to make people click watch so we can increase our net worth and you lost your time.
I KNOW NOTHING ABOUT TRADING/ INVESTING AND I'M KEEN ON GETTING STARTED . WHAT ARE SOME STRATEGIES TO GET STARTED WITH .?
Mr Avi Lev.
As a beginner, it's essential for you to have a mentor to keep you accountable.
I'm guided by Widely known crypto consultant
This is correct, Mr Avi Lev strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started.
Mr Avi Lev is considered a key Crypto Strategist with one of the best copy Trading portfolio and also very active in the cryptocurrency space.
Isn't that the same Mr Avi Lev that my neighbours are talking about, he has to be a perfect expert for people to talk about him so well
I drive a Honda Civic. It runs great. I don't need a BMW or Mercedes. It's just a form of transportation.
Responsible!
Same! I purchased a Toyota Camry for 13k cash and then someone hit me and totaled it. I then purchased a 2005 Honda accord for 6k cash and it’s been a blessing.
You definetly need a Mercedes or a BMW. These cars offer a level of saftey you don't get with a civic. When you got the money you pay for extra protection. I've never ooked at those cars as a status symbol. Just bullet proof junkers.
You dont, I got a bmw last year and realize though it is nice it drives just as well but the feeling of overpaying for something is not good. A nice toyota is good enough.
@@killersentra are you working for BMW ?
Humphrey, your financial advice is great as usual. I'm in my mid eighties and because I figured out on my own to do what you are sweetly suggesting others do, I live comfortably in the same very expensive city you do. I occasionally amuse myself by walking into a store knowing that I can afford to buy everything in the entire place. That is real status and I take pleasure in the knowledge that nobody around me even knows it. What makes it easy for me not to buy expensive crap I don't need, is to ask myself how many shares of Apple or Nvidia I could buy instead knowing that when the buying opportunity comes along I'll have the money available. However, fifteen years ago I did buy myself a nice almost new BMW. It was a dealer demo with 7000 miles on it at a 25% discount. I got a great car, a great deal, a wonderful ride when I'd rather not walk or take the bus, and status thrown in as a bonus. It will probably outlast me.
Good for you! I had a coworker, who was in her 80s, always complained she had to work, but I was thinking in my head that she made a bad choice. She had a good job for a long time, but it was her who didn't save $. I don't want to work because I have to, but I'd love to work because I enjoy it when I get much older.
I am 33, I dint even own a drivers license yet 😂 I always use public transport. From your list the only thing what I buy is an expensive smartphone but I mostly tend to keep it until it no longer get software updates. I use the s21 ultra now. What is almost 4 years old now.
you must not live in the us then...because taking public transportation in the us = putting your life at great risk from getting robbed/r*ped/killed
Exit row seats. Poor man's first class.
Sucks you gotta pay just to not have the middle seat these days.
@@AngultraI think they’re talking about the whole emergency exit row. Even the middle seat there is a good deal for legroom
Depending on the product, paying for a higher quality item can cost you less in the long run because you don’t have to replace it. Tools and other gear often fall into this category. Buy once, cry once.
Watching from my paid off iPhone 8 via my $15 Mint Mobile plan.
Absolutely, based channel! Keep it coming! Sound advice! I've been living this way and this is why my wife and I have something!!!
Great video. All these are true and unfortunately so many Americans are unprepared for the future, leading to serious financial consequences that no Coach purse can fix.
The way your crunching the numbers is the exact way my brain has worked my whole life... I have done this since I was a young teenager... If you think this way with money, you will always have!
A huge amount of people can't fathom the idea that none of the shiny cards at the dealer are appropriate for them. In an ideal world, the sellers would explain budgeting issues and let many of them know that they responsibly require a used car.
For cars, a Camry/Accord is a noticeable step up from a Civic/Corolla, but is the next level of luxury really worth tens of thousands additional payments? I doubt it. If youre an average joe nobody cares about your car, you're not impressing anyone.
Agree Accord is a much nicer ride than the Civic. More spacious but still good on gas!
I got a 2016 Accord
As a punk rocker, I have dedicated over 10 years of effort into my patch vest and pants. This has saved me thousands on clothes. My outfit is memorable to people. I have over three miles of floss(stronger than regular thread) see into the vest alone. I have maybe in total paid at most $400 dollars to maintain this, for a decade. I was homeless for much of this time and those patches saved my life. If I wasn't known as "that punk rocker guy" I probably wouldn't have ever had the social capital to escape objective poverty.
Also the thought of buying a first class ticket is very laughable. I fought gang bangers and rats under I-5, buy the economy seat.
Congratulations on being... Poor I guess.🎉🎉
it's a matter of perspective. for like... 99% of people, first class doesnt make sense other than a really really special occasion like honeymoon, or a major anniversary. (think 10th or 25th). But, if you are someone that makes say... $50k a day, a first class ticket for 2k would seem rather affordable to you since you would make up that money by the time you landed.
If you were a real punk rocker, you would pee on your clothes and wear them. If not, you're just a poser.
People sit in first class so that they don't have to smell people like you
What a diversity in perspective!
You have to look at some of this stuff in a large picture though. I drive a Tesla Model 3 (I have for 5 years now). I save on average $120 from the cost of gas compared to the energy cost. I charge almost exclusively at home. A new Toyota Camry costs an average of $530 a month. My car payment is $600, so it's actually cheaper to own a Tesla Model 3 than a Camry, and yes I put the same down payment for both cars in the calculator. A lot of people would say Tesla's are luxury cars, but it's actually cheaper, and imo, way nicer.
Not cheaper than a 10 year old Camry though is it
How timely! It's nice to hear a reinforcement of what I'm already doing just when it's almost that time of the year!!
I've driven s-boxes for years and I find used cars online all the time for 20k that I would love to drive. I cannot imagine spending 40, 50, 60k on a new car when they depreciate so fast. Just wild.
I couldn't imagine 20k.
I always fly first class because I'm fat AF and don't fit in a coach seat. But I maybe fly once every 2-3 years, so it's not a big line item for me.
I remember seeing a guy in economy sitting between two HUGE overweight men. He was suffering, couldn't move an inch, and neither of the two men expressed any sympathy. Fully booked flight, so even though he wanted to change seats or upgrade to first, he couldn't. 😂 When I'm in Asia, I don't mind flying economy. In America, given how big everyone is, first class all the way.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera you're a miracle.
I think the 1/10th car rule is a little out dated in my opinion. I bring in roughly 125k a year so that would mean I could only "afford" a $12,500 car. I currently have a Tacoma I bought cash for 16k so I technically couldn't afford that. Say you want an average used suv with lower miles your looking at roughly 30k a year on the cheaper side of things. So for a household where both partners need a car and lets say they both have similar priced cars of 30k the house hold would need to make 600k a year just to "afford" the 2 30k cars. When if someone with a 250k household income could afford to buy both the cars after a year by just saving most of their wants category of their budget. I do agree with car payments and expenses should not exceed 10% of income I think thats more than fair.
Buying name brand to some people is a status thing.
Its totally status
It is when people veiw you as that type of person. That pressure is always there. You dress like a bum that pressure never exists. You get no attention. Some people thrive for attention. When they don't get any their suicidal.
Good vid Humphrey.
I'm inclined to think that the only reason anyone SHOULD buy anything from the "status" category is to flip it for a profit later.
Other than that, there's absolutely NO reason to own it (then again, maybe that's just you and me).
I fly first or business. But I generally look for deals to upgrade after I buy my ticket. Last one was $90 extra for a 5+ hour flight.
The best thing you can do at a club is NOT attract the attention of the people there
Japan is all about that “look at my designer stuff”, what are you talking about??
G-wagon literally only survived BECAUSE of Japan!
Dude what are you smoking? Because I want some of that stuff 😂
if gas is not included, 10% is way too much!
Helpful concise video covering important points to streamline finances. Keep them coming.
may I add, unnecessary credit cards with hefty annual fees. I had an AMX Platinum but decided to close the account after one year (several reasons including an awful lounge) and one of the sales points made to me to keep the card was "the prestige". A card is a tool, nothing more
Concerts and sporting events have out priced what the experience is worth. Sadly, people will still pay a ton of money to spend most of the time watching it on a screen.
If you're buying something to show off you're faking. It's only when you don't care what others think whey you buy fancy that you actually have the status you're craving.
I suppose for domestic flights, it doesn't make sense to travel first class. However taking ultra long flights like from Singapore to the US I would pay more if I can afford for the comfort level it gives.
That Car Affordability chart might need to be updated. There's no way I would feel comfortable with a car payment corresponding to my salary.
We need another portfolio reveal video. Excited to know what has changed in your portfolio since your last video.
FWIW the "international first class" pictured is actually Emirates' older business class on their 777s. International first class these days should get you something akin to a cubicle or even a closed roomlet. Source: I fly Emirates business regularly (someone else paying for it, of course). OTOH have never owned a car, and my phone is an Android, upgraded every 3~4 years.
I like this young man. He has common sense.
The first ad after this video was for the Google Pixel 9 pro which is the upgrade to my current Google pixel 4a 🤣
The pixel 4a works just fine 😊
My wife and I used to fly first class domestically, but once the cost delta per hour for the upgrade exceeded our hourly income we stopped that as it’s not worth that much to us. We did splurge on first class on an oversees flight a couple years back with the lay down seats, that was also not worth the expense in our opinion.
Fly first class, or your kids will!
Are your series 7/66 licenses still active? Do you do work as a financial advisor still? Would you recommend getting those licenses?
Damn I never felt the need to splurge in this category. I waste most of my money on unnecessary conveniences / services I don’t end up using
Unnecessary conveniences = more energy and mental space to do productive things so don’t feel like it’s a waste
According to 9:43, if the airline has reserved seating can one not buy 3 reserved seats all next to each other? It's still less than 1st class.
I’m 58 and haven’t had a car for the past 36 years.
Excellent video but Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
You're correct!! I make a lot of money without relying on the government,
Investing in stocks and digital currencies is beneficial at this moment.
Job will pay your bills, business make you rich but investment build and wealth long term, the future is coming.
Life is easier when the cash keeps popping in, thanks to jeffery kathryn services. Glad she's getting the recognition she deserves
@@user-yf6mn6kx8uWow! Kind of in shock you mentioned expert, Jeffrey Kathryn What a coincidence!!
Thank you Lord Jesus for bringing expert Kathryn into my life and my family, $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!
If you have the money, spend it, and if you are using your credit cards to pay for goods and dont have the money to pay the credit card off, don't spend the money you don't have.
08:06 - It wasn’t exactly bottle service, but I had a friend who always ridiculed me whenever I wanted to save instead of buying the latest game to play with them or stay in, instead of go out. Needless to say I should of definitely took that as a red flag lol
"bottle service" is a repulsive notion, what type of empty vessel of a human being would be impressed by this?
If the flight is longer than 8 hours I splurge for first class. I can handle 8 hours of cramped discomfort.
I'm a large in stature person, and I don't fly very often so one thing I tend to splurge on is First Class if I can afford it and it makes sense. It's more comfortable for me and my broad shoulders aren't encroaching on the seat next to me.
that makes sense Matt. You must get alot of ladies with the broad shoulders. And it is considerate of you. But for most people first class doesnt make sense!
I agree on the latest smartphone i usually get my used 😅 and save crap ton of money
lets go!
Even though I know it's a dumb purchase and it's purely for flexing, I still want a fucking Lambo.
Get a scale model toy car, you'll scratch the itch. I bought a motorcycle I have put less than 300 miles in 6 months since I'm always working.
Go for it; life is too short
@@yingkouzenAgreed
I mean its good info. But I just don`t understand the need for clickbait title though.
You must be who he’s talking about
@@RubyRider5 You really think this stuff isn`t already all over the internet? No one talks about how a car is a waste of money? This is brand new info huh?
@@Mike-dd8bdlet him be...he lives under a rock
@@Mike-dd8bdI mean what’s your net worth and what kind of car do you drive 😂😂😂why are Americans poorer and poorer every year like clearly this isn’t beaten into your head hard enough because we get poorer and poorer every year because of our own decisions 😂😂😂common sense ain’t that common I guess
Well, what makes me an outlier I guess! I am 57 year-old English immigrant, with zero interest in tech or stocks, and yet I am 110% committed to Bitcoin. I would describe myself as an extreme conservative/libertarian. I have been involved in UK politics for some time, and the main thing that drove me to study Bitcoin and ultimately recognise its value to Humanity was the threat posed by an over-weening government, first in the UK and lately in the US also. I regard the CBDC as the final brick in the wall of the totalitarian prison the world's governments are building for us. And Bitcoin is the ultimate defence against a tyrannical government.r.....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Francine duguay program is widely available online..
The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
I appreciate the professionalism and dedication of the team behind Francine's trade signal service.
Francine goes deeper than just looking at surface-level trends. she explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..
The clarity and precision in Francine market predictions are astounding. I'm so grateful to have found her reviews here on RUclips as well.
Rich or poor, problems never go way 😢
If you're going to use that table on buying a car. Use your after tax income. Not your before tax income. I could not pay what you showed per month with my before tax income and still save money. After tax, yes.
How timely. I was just watching a video about Grand Seiko.
yeah, all those things I will never spend money on and couldn't care less... except although I will never buy a new phone each year I did upgrade to the iPhone 16 pro from a iPhone 12 Pro... 🙄
Why does everyone always talk about saving money and investing in for retirement. What about the now, so are you going to suffer to save money for when you get old? Enjoy life as it moves forward because you might not be able to use all that money that you save. Try to save when you can, but enjoy life.
Side quest purchase is an awesome phrase!
Maybe I should go all in on LVMH stock. Seems like the world is getting dumber and dumber, so I might as well profit off of idiots.
Modern society keeps the people alive that would have received a Darwin award.
Alot of people want to show off with stuff they cant afford
Two words; Intentional spending. You are welcome
The Millenial stats probably match your demographic better, but GenZ is getting older. I would love to see a few more stats about us :)
That new MacBook Pro is my MONEYMAKER.
Buying the same items but different brands for way cheeper. Or custom or vintage
Is whats cool
Exactly!
When you are really tall, getting first class is needed, even if you are poor. Trust me lol
Name brand American cheese. Kraft is bankrupting Americans.
I have to disagree with your views on luxury goods. I have a Lexus and a Rolex watch. After I got my watch, I was taken a lot more serious. I was able to close deals more easily and business owners took me a lot more serious. I am 33 years old and make roughly 250k a year and net worth 1.6M. And having nice things actually made me work harder in life.
You're only fooling yourself.
yeah, it totally couldn't have been the experience and age in the field you gained grinding for those items. Like say you made 1000 extra deals, double the normal, and it took you 3 years. Now is it the watch or the fact that you've established yourself and have double the expected amount of experience?
@@chesspwn7457 yes. It’s the same thing as showing up to an interview with gym shorts vs a night dress shirt. Dress to impress is very true here. You would dress nicely on a first date right? You want to make a good impression.
I know what you mean. After my penis enlargement treatment, I was able to negotiate $100 off a new sofa.
@@Warrior_Resisting_Colonialism how so? I have a higher net worth at my age than the average American household. You can still save money and buy the things you want. Tomorrow isn’t promised, and you should spend on the things you enjoy. Spend 25%-35% on wants and needs save the rest. Not that hard.
I find it interesting that you talked nearly exclusively about iPhone/Apple but conveniently ignored the fact that iPhones are worse than Andriods in every metric and more expensive. The only reason to buy an iPhone is status...
I, somehow, don't associate identity consumption personalities with the absorption of practical wisdom. 😅I do hope this helps someone.
I asked my coworker that looks like a comfy pair of shoes what is it? Birkenstock, $150. Never spent that much on shoes. I know inflation went up but dang are shoes >$80 now lol😅
My Crocs are ugly, but very comfy. Bought them back in 2012 for $40 and been wearing them 9 months in a year.
Birks last years, it’s not a bad shoe investment at all
You can still get $40-$50 nice shoes
The same could be said for cheaper shoes tou domt need to spend $150 or more on sandals or mules just because tbeyre birks and they supposedly last thats just rarionalizing a status purchase. To each their own not judging but its not an investment at all @BeautyToTheMax99
Spending money on quality is perfectly okay. My mom has worn garbage thrift store shoes her whole life and now has foot pain in her 60s. I'll gladly pay $160 for a nice pair of brook's if it means I won't have knee and joint pain from running 25 miles a week and living an otherwise active lifestyle.
I haven't fallen prey to these, mostly because it's just not the kind of person I am. But I can share what I do instead.
Designer goods: get something that has purpose instead. Do you do MMA? Get some comfortable rash guards that you can just wear on the daily. Maybe ones that have a cool pattern on them. I like the Spiderman ones most.
Cars: I LOVE LOVE LOVE public transit. Sometimes I'll log what a car payment would be, calculate how much I spend on travel on my bike, on the bus, or calling a taxi/rideshare, and put away what's left. Otherwise, I'll just carpool with friends and pay a part of the fuel cost.
Keeping Up with the Jones's: Outside of experiences, I really like doing something creative. Why buy cocktails when you can learn to make them yourselves? Or rather than going to a restaurant, getting together at someone's place and trying to make it.
First Class: I just think about what I would want to put that money towards, and immediately, it's not worth it. Though in international flights, I always sit at the front of the cabin or in emergency because I'm a tall person that needs the leg room.
Latest Tech: Well, I'm a linux guy. I like messing with things to the fullest, and on most of these fancier gadgets, it seems like I can't do that, so that's a turnoff for me.
We need a fancy high tech shirt or hat that shows your Real Time Net Worth Numbers.
Let the truth come out.
Lol seriously!
So how is it a “waste of money” if status is on the hierarchy of needs?
you can get status in other ways rather than material things like doing things for the community, organizing humanitarian events, helping your local church or homeless shelter, running for your neighborhood board or your house of reps.
Never fly frontier!!!
I knew what the answer was before he even said it… Kinda says people are talking about it.
then there will be only dollar sign in your life and nothing else~
Thank you for your vids Mr. H
Very welcome
I still have my xs, trying to break out of 50k instead
I feel like you've already made this exact type of video before.
not on status before!
By “nobody” do you mean “everybody”?
I do drive a luxury car, but I can afford it. You can buy a 2-year-old luxury car with about 30K miles for about $30K. I drive the car for about 10 years, and it does have some residual value, so I depreciate about $2500 a year. Total cost shows as 4.11% of my income, one of the larger items in my budget.
My Honda Accord has lost ZERO value over 10 years! And I know I've also saved a ton on maintenance / repairs!
My salary allows me to purchase much more, but I really don't see any reason to bother
Nice i am implementing this
Great video
You been to a concert lately? lol
If you are adult, food, closing and especially shelter is not default. All these takes about 60% income for a family, for some people even more
I just meant that we didn't have to go out and "hunt" and live in a cave. I think that was the meaning behind my phrasing. But yes, I understand cost of living can be challenging.
@@humphreythank you for the video!
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Brooke Grace Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
That's funny! "Money Pit" is my wife's nickname!!!😂😂😂
Déjà vu......😂
:D
Broke people trying to look rich ...
Just came to guys one second in. My guess is "Cars" All you finance channels will die so live it up while you can. All this rehashed 'content' is doing one thing for me: increasing my list of blocked channels. K.... figureing if I'm right... aaaand it's Carsl!!!! Thanks for lettimg me know to filter your channel.
Pretty sure if you are a subscriber.. no one does this. Pointless common sense video
The thing that breaks me is bags. People spend hundreds of thousands for something you can literally get for free at a grocery store!
I get looking good but a grocery bag purse is a bit too much. There's an option for every budget
What Humphrey is failing to understand here is that the new iPhone can show me a couple extra wrinkles on my face that my current phone cannot. Keep spending kings.
Naw brah my biggest expense is being a fatass
Omg I’m early!
yes yes you are
eyyyy
ahaha