Money Money Money Money
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- Опубликовано: 24 ноя 2017
- Let's talk about money. At the rate of my savings, people might mistaken me to really love money and put it above all else. In a way, it may appear that way until you understand the full picture. You see, it is more about equating this initial amount of money before you are retired as money that buys you your life back. If it is so important, why wouldn't anyone hoard it as I do?
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Buying back your life...modern day slave...absolutely...well said!!
=D
I think it is good that you are living the life you want. So many of us worry too much about other's approval. I love all your videos.
Thank you!
BeatTheBush you inspire us
It would be great to meet you at Fin Conn.
Centsible Living With Money Mom since the “Jones’s” DON’T pay my bills, i gave up on what others may think!
I need to hang out with you!!!
Already knew this. Not sure why people think you love money. You're just here to help us manage our money more effectively. Hope you enjoyed Thanksgiving! 😊😊😊
Awww man, you watched all my videos and now you know all of this already. =/ Lol... that's it. There is NO MORE money advice from now on, lol.
BeatTheBush lmao 😅😅😅
Money aka freedom units 😀
Slave units for some people. 😀
thecollegepicker lol true
thecollegepicker Yes.
In a way. each $5000 can be considered 1 of 100 units you need to buy your freedom. Roughly. Depending on your burn rate.
BeatTheBush is 500.000$ enough?
You’re a genius! This totally motivated me to go even harder for my freedom. The borrower is the a slave to the lender. 😃👍🏾👏🏾🙏🏾
=D Yes!!!
A major root cause of people's confusion about putting away money is how *completely* ignorant people are as to how much money you need to have on-hand for when you're physically incapable of earning money on your own. You can find a host of articles about how few Americans have enough money on hand in case of an emergency, how little we save, and how bad of shape the majority of us are in for retirement. Existing's expensive, thriving even more so.
Yeah, it costs a lot to retire indeed.
I'm a slave. I listen to you and Dave Ramsey, hoping to see the light at the end of the tunnel.
Marilyn Wilson they're both great resources
=D You just inch towards that goal. I do know that once you have that goal set, you can start making choices to get you there. =D
That should be your next video. How setting goals for yourself pushes you to make them happen
Keep on keepin' on, Marilyn. It's tough while you're in it, but you'll get there, and it is worth it!
It’s crazy how we both think alike. Much like you, I recently quit my 6 figure job. Every video that you publish and talk about things you do in your life I’ve been doing and everyone looks at me like I’m crazy and calls me cheap. They just don’t get it.
Cheap for a purpose. And the purpose is golden. The path to freedom is the road less taken but once you reach there, people will want to be you.
Some people don't understand the beauty of freedom :)
i was always frugal, always avoided debt and saved. i was forced into retirement early because of illness. i have enough to live on for the rest of my days. my home is paid for. i sent my children to medical and law school and bought them each a home. why wait until i die for them to enjoy my savings. IF i could go back to work, i would. i loved my job.
Jobelle Collie good for you, that is awesome!
I would rather be labeled cheap than wasteful or foolish, and I bet a lot of the folks calling you cheap could be labeled one or the other, or both!
I agree about working a 9-5 is like modern day slavery. Especially if you don't like your job or the work environment. Keep teaching us the way out. I love this video!
Even if you like it, I argue that it is still slavery but only the employee somehow convinced themselves that they are enjoying it.
Think twice before you buy that nicer, larger dream house that requires a mortgage that you may not pay off by retirement, if ever. The love of money is the root of all youtube.
Exactly. Stay where you are or move to a smaller place even.
Dream homes seem to turn into nightmare homes for many. They don't realize how many more expenses come on top of a larger mortgage (utilities, upkeep, insurance, taxes). No thanks!
Good comment. I had family try to encourage m I not getting bigger coop cause they wanted room to stay in when they co,e. I got the smaller less, less maintenance less mortgage. Now mortgage al,oat paid off And Maintenance is very low. Most faimily with big houses are spending most their time try to figure out how to Keep that big house. Which creates all kinds of pro relation problem and they resort to manipulation of would be financial supporters via i.e. Guilt Hmmm. I live within my means. And live in about I can afford in my old age if need be. Yeah !!!
StefanUrkel the of all RUclips lolll
By far your best video yet.
I love your whimsical personality. The diamond is fun!
Yes...if you don’t want to HAVE to go to work sick, in horrid weather, when the family needs, be under appreciated at times, you MUST plan for it or possibly become even homeless! I feel this is definitely NOT greedy but a great plan of action, just ensure you keep health insurance as well !
MONEY TALKS, BULLSHIT WALKS.
Lol.
I'm a 13 year old kid making around $60 a month I work around 4 hours a day getting 1cent per min, I'm not saving up for anything I just know that in the future I will need it since life now runs on money. Whenever someone says i'm obsessed with money, I just laugh in my mind since I know at some point they are going to need money and not have it, and they will most likely come to me for help.
I love the daylight in this video. I vote for more videos with this lighting :)
BTB, I loved at the end where you ran out of steam. So cute.
I'm retired. It's too late for me. But, oh man if I ever could have been taught this in high school ( even been able to grasp the concept) what a different life I would have. That said, life is still good. Being retired is such a treat. I'm glad that you'll be able to do it at a significantly younger age.
Thanks for explaining all your thoughts about money. You're helping many towards finacial freedom. Cheers.
I mean if I knew all this from the beginning, I think I would be able to do what I am doing now earlier. I wasted some time spending frivolously.
BeatTheBush do you think is worth buying a annual membership from BJ’s or Costco’s to get good deals???
I believe that the financial slavery you referred to is often called "rat-race"
Rat race makes it sound like perpetual motion of running but doesn't really make it seem like enslavement though they are similar.
i really enjoy your videos! thanks for making them
You're welcome! =D
I self-published a couple of textbooks. They're the gift that keeps on giving!
LOL That ending tho . . . you almost made it. I was rooting for you! : )
Hi, nice clip. What would you recommend to accelerate your wealth?
Thanks for sharing. I fully agree. I've been accused of the same things: Loving money too much and being too cheap. Once a friend wanted to know how I was able to stop working and travel for such an extended period of time, saying that she could never afford to do the same. I told her that the entire trip cost the same price as the coat she purchased last Xmas. True story :)
H aha hah... when you do that you really show why you did what you did. Wow... expensive coat!
Henry David Thoreau posed the question in Walden, how much would you have to work if all you were trying to do was provide the basic necessities for yourself and not chase a bunch of non essential material items.
Depends where you live and also your standard of living. Mandatory healthcare costs and a place to live can easily double your needs. But outside of those expenses, being comfortably frugal, you'll likely get away with 5-8k a year.
You are 100% correct
Please reply to me:
Do you use the metric system in your engineering stuff?
Cheers
Hey BTB, this was a great video. Liked and favorited. Will you do a video how you decided what ratio to put towards tax deferred retirement accounts and accounts you can tap into now to live off of? It has to be different than the traditional route if you are trying to "retire" earlier than age 65
saving money is "buying your life back from your employer". that's a great way of putting it!
Forced slavery doesn't work well so we have what we have today. The effect is the same, servitude in a broad sense.
Love ya! I know you mean the best with your financial independence lessons!
This is an incredibly important video. Thank you
I think so but it's only as important as the number of people i can reach.
Best title to any of your videos
Hopefully, I talked about money enough to justify the title, lol.
Yes to enjoying Life without being a Slave 2 the System 😁...💎....👍 Great Vid!!!!❤
It's hard but seems like there is more than a few in this comments section who got out of it too.
I like your channel. Straight to the point and interesting topics. Keep the good work and stop talking about the haters that say you love money. Who cares if you love money you helping the world with this financial advice. This videos take a lot of time and little pay. Thank you.
Thanks for the encouragement! Being so intensely focused on all aspects of money sort of makes me a money monger, lol. But that's why this channel exists. ha ha.
The "switch over" you talk about (9:17) is something that I think about a great deal. It definitely is something you have to plan for and can't just wander into without some serious reorientation of your life goals.
Correct. The switch over is huge. And it can be a lot sooner than you think if you make the effort to make it happen.
Love your channel bro! Learning a lot with your vids so I can save up $ and make my quality of life better.
Thanks! =D Hope it does!
Great point about the large mortgage. You don't own your house, the bank does.
Being "over extended" financially with excessive debt is not worth the stress.
Talk about it. I live in an expensive area and it's a huge burden.
Yes I am in LOVE with money!
That's right! This is how you are able to do things that you were always curious about and everything else in between. I don't know how do you deal with negative people on YT that say you're cheap, etc. but the truth is that your channel is about money. So obviously you're going to talk about money, money, and money.
Buying your life back. That a great mindset I am going to have.
Thank you for all of these retirement/financial videos! Can you please do a video on choosing between investing more in retirement or buying a house (I currently rent)?
I went straight from college to starting my own film business, but last year had to take a part time job. It's tough finding the right balance of taking risk vs. doing a phased approach where you earn money from a job and save for early retirement
Where did you get that diamond? I want one. I like money too and I live frugally, I love your videos and mindset!!!
Oh and about the real diamonds, you are so right. I sold three of my diamond rings in hopes to get down payment money for my house. Paid from $4500 to $9000 for each ring. I got only $800 to $900 for each ring. Even the biggest. Most of the money was from the gold! Horrible investment.
You describe it perfectly. Buying your freedom. I feel the same way.
=D =D =D
The diamond is mesmerizing!!
'diamond' lol. It's a fun piece of glass. =D =D
This was the best video of yours I have ever seen all kidding aside. You literally just blew my mind with the 250k being enough to retire on if you have 10k a year in other passive. I never thought about this concept...
=D It's huge because saving another 250k takes A LONG TIME. We don't have all this time.
Hey BeatTheBush, my hero... what do you think about tiny house living?
Very good video
Lol your ending reminds of Porky the Pig " tha tha tha that's all folks" but great video and some good thoughts.
=D Lol.
everytime i think about money freedom it remind me of a scene of "spartacus" in wich ganicus gain his freedom. the problem is : in our time it's not a matter of one battle we need time to get results if we are on a small wage and the first enemy is me 😣 i need to stop spending money thanks for the video :)
Or at least spend it more wisely so that you get the same quality of life and yet spend much less.
Interesting that I always thought that way also.
=D It takes a while to realize but even more so to do something about it.
Hey BTB, I have a video suggestion. So I was buying a small gift on amazon, and it was listed as $13 with prime, $8 shipping otherwise. A quick check online showed the same stuff at walmart marketplace from the same seller for $10 and free shipping. This has happened more than once with me and I would love to hear your thoughts on it.
Saumya it's very common that's what a lot of amazon is it's called retail arbitrage they buy from retailers and sell on amazon for more. Most do not look into pricing like you did.
Amazon does not sell everything for the cheapest. Compare prices and do not just automatically default to them.
Fungwai Poon it is reselling but it's a more specific type of reselling. As opposed to reselling thrift or garage sale items.
This is gold dude. I've been known to be the frugal one of my friends but I'm a good saver because of it. I still enjoy life and travel but I know my frugality and budgeting will pay off. I don't want to work as a corporate slave until 70 like so many do these days. I'm 30 now and hopefully can escape that grind in my 40's and have the freedom to do my own things while generating passive income to cover my expenses. Cheers.
=D Spend like everyone else and you will work til 70 like everyone else. Hence, by definition, if your spending habits isn't turning heads, then you're not doing it right. =D
Awesome advise!
=D
Money is the vehicle that gives you the opportunity to pursue what you want.
Exactly. And it's hard to obtain it.
I notice that many (not all) individuals who are poor have such a negative relationship with money that they see money as the cause of their problems. When people adopt a negative mentality about money, they stop managing their money and unknowingly allow money to take over their lives because they are not managing it. It's a vicious cycle and it's very unfortunate for those who for one reason or another, end up adopting such a mentality.
I like the fake diamond. I have one that I put in the window and it throws rainbows around the room when the sun hits it :)
When did you begin planning your early retirement? Or did you begin hardcore saving/budgeting right when you started working?
I'd say only a 3-4 years before I actually did it. I always saved a lot and only when it looked almost reachable that I really tried to go for the finish line.
So funny how you ended this video.😂!
The end was the best part
=D
Wait. Where is PeaThree?? I am worried, considering that BlueGuy is clearly asserting rights to at least a portion of the steak. Could it be that BlueGuy was hungry and ...*ATE*... PeaThree? Like so many of us, he could have realized the futility in going on to eat the other two peas to assuage his hunger and so moved over to the higher calorie, infinitely tastier steak. But poor PeaThree!!! OK, and poor Cow... (Oh dear, what's an empath to eat?) BTB, is PeaThree safe? Please tell me that the pea eating scenario is just a figment of my imagination!! But tell the truth. I can handle the truth.
He fell behind T-rex I think. Those peas just roll everywhere. Actually, the pea might just be behind Icebat.
My three favorite food groups! Money, money, and money!!
Lol... you can eat money? Buy food with it first then eat it, lol.
I enjoy your videos. I have a question: Did you save up enough for the 4% safe withdrawal rate, or did you partially/mostly get there and now supplement the passive income with your other endeavors?
I am not retired just yet. But then even if I were, I would still keep on doing what I am doing. So I sort of jump the gun here since I see it being sustainable.
Exactly how I would have put it. It comes down to self-determination. You either value it or you don't. If it's something you value, then being an employee will never feel right.
Your self-determination sounds like what one person wants to do with their life. If that is to climb the corporate ladder then so be it. But I think some of us want to do more and get more out of life. Make more meaning from it.
Yes.
I like your concept. I am halfway to my freedom!!!
Nice! That is pretty well on your way. Even knowing that means you are on your way much more than other who just thinks it'll magically happen.
Maybe if I watch this video I can afford a lamp that doesn’t look like an IKEA seconds sale item. 😋😋😋
Great mind opening video
=D
Robert Kiyosaki calls it the fast track. Play The cashflow game on your iPad, it’s awesome!
I have played that game. It does concentrate a lot more on real estate it seems.
Retiring in Thailand, Malaysia, Indonesia and Vietnam is much cheaper. Do you have any thoughts on that.
That is indeed a possibility. But then I have no experience in this. More advanced healthcare seems not feasible there.
Vietnam is the only place i’ve not lived, visited or stationed. i’ve enjoyed all the wonders of each Nation, but i’ll take the USA over any other place. if i’m ever lucky to marry and my spouse had to live in some far off place, i’d go. i’d support his choice and help him with the finer points of unpacking, finding a home when you don’t speak the language and the money looks like monopoly game cash. but for now, i have a lovely home, a great service dog and my children are married and have their own lives. i’d like to visit Belize again and also Belgium. my two favorite places.
The ending was funny. Blah blah...thanks for watching. Very informative none the less.
=D I don't think anyone listens to the end anyway.
do you have a good solution for health care costs after retiring early? affordable care act?
have fun if your a United States veteran you get life time medical benefits ( check with the Veterans Administration)
You just buy it outright with your budgeted passive/semi passive income, savings, dividends, etc
the solution is to have more money when you retire. Or have a sweet early ritirement package, from a corporation, that includes medical (they do still exist. although rare).
It really depends on your income bracket. Basically you are on your own and have to just buy it yourself without employer subsidy. Another things that locks your into the system. Think of paying your own way as a right of passage.
have fun cheapest and most effective way to solve aca is to allow anyone to buy health insurance across state lines. just like car insurance.
Just saw your equipment list.. see you have HD-650 - great headphones.. have you heard of MassDrop? They are a discounted group buy site, sometimes selling rebadged equivalents. They are selling HD-65x for $199 + tax. It uses the same driver and casing/moulding as HD-650 but is a different color with shorter cables and packaging. Resale value of the Sennheiser branded is likely going to be better, but if no plans to resale, you save a significant chunk of change for the same sound quality. BTW, do you shoot your videos using the 5D Mark III?
Ahhh that sounds cool. But I bought those things at significant discount too. I forgot how much though. Most my vids are shot with the 5D3.
I agree. You need to have some money to start with. You need to have something to get started. This upfront cost will allow you to make investments and returns can be reinvested and money will grow.
one of the reasons is because most people are conditioned to think money equals evil which is obviously not the case.
Sometimes people can be slaves to it. If you spend all your time earning it but then spend it right after. Causing you to be a slave because you are not saving anything.
I want to do the same thing. Just become self-sustainable. Now I'm making 1k EUR a month on hand give or take, but eventually, I want to make money with the things that are more important to me. I realized that I actually like money when I wanted to give a coworker a complicated answer, cause I'm a little bit obsessed with it. Knowing that money printing makes everything increasingly unaffordable for most people - Housing is the holy grail for it since it is the most expensive item which one has to have.
But BeatTheBush you have to accept some people absolutely LOVE THEIR JOBS. Basically what you said here is "You might love your job, but really you shouldn't". You might not like your job but what I'm saying is that other people can!
Yes I love money.
Money provides life choices. I work WITH a huge multinational basically to satisfy my normal minded family, friends and it provides great healthcare solutions. My real livelihood comes from ai project based consultancy. Now that BTB has bought his freedom and escaped from the daily corporate grind, what is he doing for healthcare? cobra? Obamacare?
You should fly to Atlanta, GA and do the Porsche Experience
Is it free? Probably costs a lot or requires you to buy a new Porsche?
Money has infinite utility. There is no amount of money that you can have that makes you not want more. It's just a matter of how long a person can defer their gratification as to how rich they become.
Ahhh but then it's important to realize when there is enough and you can scale back your effort to obtain more. And rather use more of your time that you see fit.
Don't forget to include health insurance in your figures. If you retire early, $20K to live on is unrealistic when you consider the cost of health care in the U.S. - especially when you get older. A lot of working people get healthcare benefits through their work. Now if you live in a place where health care is basically free, then that's a different story.
I agree. Those must be considered for actual retirement. I'm not actually retired yet though.
Code blue: peas are out of the pod!
I love your videos! I have a question.....I have 2 homes that are worth $210k each and paid off. The car I drive is 13 years old, but l love it. I quit my full time time to enjoy my 40s. I work only 2 days a week earning $600-1k a month. I have no savings.....any pointers on how to save some money so late in life?
How to save money? Make more so that you can save it. Are you renting out the second one?
BeatTheBush yes, I rent out the second home......which covers taxes, utilities, and repairs.
Nice!
It’s about whether you have good mgmt or not and the environment you’re in. It’s always the people who make a job tough, not the job itself. If the place is organized that takes care of a ton of problems. A mgr has to be fair, be a good example and have strong job and acceptable people skills. If they push some too far it backfires. It especially backfires when everyone knows they’re being pushed harder because others can’t do the job and then offer nothing else. It kills people and that’s one type who wants to get out of there and does. Job protection’s unfortunate side is unemployable people in your midst.
I saw your little pea pods at Disneyland yesterday.
They wanted to be taken home. =D
BeatTheBush I thought of you when I saw them :)
=D
So you traded in the third pea for the diamond? Oh heavens this is the new bush huh? Btw when are you going to write a book? I think it would be an interesting read.
Richard Benson - that's amazing!
roxcyn I'm sorry but I'm confused. He makes a lot of really good and thought out videos and I'm sure if he wrote a book it would be an interesting read. I was also teasing him a little as I don't see the third pea but he has a new fake diamond.
Richard Benson - Sorry I confused you. I was responding "that's amazing" to the book idea. I would love to buy and read it!😄
He's gotta be there I'm sure of it. I guess I'll work on that book soon, lol. Gah.. I prefer making videos though.
What's your thoughts on Amazon FBA?
I think its a tool you can use to sell your wares.
I am surprised there are no negative comment (just glanced at a bunch did not read all) because this is a very touchy topic to those who defend the system. Many people insist we DO NOT have wage slavery in this country because we can choose your master and what plantation you want to work at. In my eyes there is no other way to describe it when people simply submit timidly to a boss because they HAVE TO. We have a right to quit a job unlike slaves in the past, but if we do the consequences are dire. Tho only way around that is stashing a large reserve of capital to like you say buy our freedom.
Does anybody else have issues talking about this topic with others? Most often one is considered lazy if they want to leave the system of wage slavery.
You have so many shades of white going on it is super distracting! But you are helping me save. 💕💕💕
Health care expense is a big worry that can upset my retirement.
It really can and somehow it's so much more expensive and inflated in the US compared to other countries. At least the treatment options is the best in the world too.
The Richest Man In Babylon : Chapter X - The Luckiest Man in Babylon
This is where I first heard about buying back my freedom. - I completely agree with you, I know, I'm a slave and I need to buy back my freedom. - I work on it. :)
That one guy who got freed from being a slave in that fictional story, its interesting. But it the slaves there who lives side by side with non-slaves is a true parallel to our lives today.
We don't think that you exagerate about money, we all speak about money and how to save it especially if you depend only on yourself. By the way I do love your videos, they are very useful and precise. Could you please make a video of how you can have an online part time job. Thank you
Thank you! Online part time job? There are a lot out there but not really sure if you want to find a 'job' or rather something that makes you money on your own terms.
Thank you for your quick answer, actually I am searching for something that doesn't take all my time like a part time job in writing translating or data entry...... just to make extra money like for college student (I mainly hesitate because I don't know which website is trustworthy..... Thank you again
My family doesn't have a mortgage but their health insurance is more than the average mortgage in my area so they're basically a 'slave' to work no matter what.
Wow... that's the sad state of health care in the US. Its so overly inflated now that its dragging down possibilities to retire.
move to Canada isn't an option?
Why did I think of Lucky Dube's song by the same title, Fracis? 😄
His song needs one more money.
Should I do physics in high school if my ultimate goal is to go not business - am not the best at math and not the best at physics - is it worth the extra hard work and catching up only to keep my doors open
I feel all of those classes in high school should be common knowledge and so yes, you should still do it.
very interesting channel I love all of your videos very helpful to save money and live a financial secure life! thank you=)
You're welcome! =D
I've been watching your videos and I started with this one. Something in this video triggered what I needed to hear to help me understand and have the patience as well as the confidence to move forward to saving 500k-1mill. I'm writing this now after have watched many of your other videos and other financial youtubers because this video wraps the big reason why you want to be financially free, and it the reasoning behind it makes so much sense after studying money for so many years, and now I understand it much much more clearer. Thank you @BeatTheBush
Money is a tool and sometimes, the way you treat it to get to financial independence can lead people to think you love money all too much. Glad my vids helped you at such a level. It doesn't happen often. =D
nice video can you believe no questions.
Lol. =D
Money doesn't buy happiness, but it sure does provide options and security. Nothing in the world wrong with wanting more of both! Can't wait to break the mortgage chains. On track to do so over 10 years ahead of schedule. Debt surely is a form of slavery, though perhaps it's unfair to refer to it that way as people often go into it willingly.
My friend at work did it for 2 weeks, no call no show, came back and was like fire me if you want, he is still there, this happened 3 years ago.
Wow... what guts. Props.