Why Living Like You Are Poor is Important
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- Опубликовано: 7 сен 2024
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#stocks #stockmarket #poor #wealth #financialfreedom
DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Lived poor all my life, not by choice at first, but because I was poor. I had 2 kids at 19, wife took care of kids and I worked odd jobs to pay out bills. I’m 64 now retired about 16 years now and I still live like I’m poor. I could afford nice things, but I am content.
I'm convinced that investing $50k-100k in the right company before it goes big is more important than saving for retirement. However, picking the right company is so hard. I have around $200k in a HYSA and want to invest. What are the best opportunities now?
I believe investors should start with S&P 500/ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
This is all new to me, How do I find a suitable fiduciary advisor, can you recommend any?
I've stuck with the popularly ‘’Melissa Elise Robinson” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for putting this out, it has rekindled the fire to my goal... was able to spot Melissa after inputting her full name on the web, she seems highly professional with over a decades of experience.
My dad looked like the brokest person in his neighborhood. But he he could cover any emergency and was debt-free. I’ve adopted that mindset. I drive a car that’s over 20 years old and live in an apartment that is well within my budget. I don’t get my nails done, wear fancy hair and I buy my clothes on sale. I’m not trying to impress anybody and I’m content with what I have. I used to want a lot, but now I value my peace of mind. Dad had it right.
I had some people laughing at me because I don't own a Apple phone but I do own Apple stock.
I still drive my 1992 Honda civic. With this current car market, I'm so glad I made the decision to keep it. Still got my iPhone 10. Finances are looking goooooooooooooooooood.
I replaced my last iPhone ONLY because my old one a 6S was on its last legs
Living below your mean not flaunting wealth no drugs and alcohol and tobacco delaying gratification are the keys to financial freedom and happiness
For me living poor= I dress like a normal person, I buy all my clothes on sale unless it's a suit. But I don't buy suits all that often. The last suit I bought was about 500 and it will last me at least 10 to 20 years. I try to buy most things on sale whenever possible.
I kept my first LG cellphone until the operating system stopped working. 😂
That’s when I upgrade my phone 😁
He is speaking on the ones who’s spending and don’t save for the future. He’s also showing what we can have by investing
I love how you are keeping it honest and real. Keeping up with the latest trend and the Jones's isn't reality.
Most important thing: thins or freedom your choice 😊
In God everything is possible ❤
When you live below your means, you can have so many options. You have way more cash to invest and save for purchases. You can get to your financial and other life goals way faster.
10:33 yup, I feel you on that one. Material things DO NOT BRING HAPPINESS.
Great point Richard, I don’t care how you look, I just want to hear the word. Also a man once said “if you’re broke and you’re clowning a millionaire then the joke is on you”. So true
Living like you are poor is expensive. Eat a bag of 57 cen Ramen noodles for over a year and see what happen. You will be laid up in q hospital unable to create or maintain an income.
😂😂😂😂😂
he's right you know
I am in that same predicament and I choose freedom over things. One day I will have freedom and things 🚀 People have to know that to be on the rocket ship, you have to set goals, work towards those goals and have financial discipline 🚀🚀🚀🚀🚀🚀🚀🚀🚀 Do the things that other people are not willing to do. That is why Richard has nice things and a handful of haters.
We're going to be fine guys..Great Rotation..Take advantage 💪
Great words Richard. Very wise.
Hello Richard 👋🏼 I’m rocking with you, greetings from El Dorado, Arkansas
Hello Mr. Fain, thanks for all you do!
RICHARD FAIN IZ AH SUNKIN SOUL...
LISTENING TO THIS NINJA WILL SURELY SEND YOU TO THE SHELTER.
Looking like the average joe also helps you fly under the radar. Sometimes it's better to stay humble because there are certain times you don't want to be too flashy.
Because you see when it comes to a nice vacation, nice road trip or flying certain airlines and dining out. I like to flash a little bit. Because of some of the stuff I do, I try to rent things for that time, I don't want to own it cuz I don't want the upkeep, that's what takes money from my wealth building!?
Sir Richard, I've had my Samsung Galaxy S7 Edge for 8 years, only replaced the battery once earlier this year!!!
When I was in my early 20s in the early 2000s, I started making good money....around 6 figures. I remember my younger male cousins clowning me because I was driving a 20K VW. Ten years later I became a millionaire. I don't have to tell you what they're doing now.
Some of the poorest people I know are the ones who need the most expensive cars and clothes while barely able to pay their bills. Nope. I'd rather be average and have money in my investments and be debt free.
My retirement will be LIT!
He says live like your poor, has 3 exotic cars….
I worked hard to raised 2 sons in graduate school now and build my funds. I enjoy my funds but do buy expensive items cars, etc. But I like to buy items for my hobbies. I have funds not just to know I have it or to look at it.
Wealth whispers because it's quiet! 💸
❤
I get what you are saying, but nobody wants to look poor. There are many ways to keep yourself up and save every penny. Yes, we do not need GUCCI and a new car to do it. So, people don't go outside looking like a rag. Please don't
very wise words, Richard, you are a good example to your kids and us viewers..
Wow this sister is hitting the nail on the head those people are called gold diggers and its sad for folks to use others for financial gain
I bet he is in Denver at the meeting with Jensen Huang and Zuckerberg 😊
Of course, at my age , I know this . But this is a very good reminder for myself. Thank you Richard for the article. I appreciate it.
This is very true You have to live like you poor especially nowadays because you don't want to be a target. But I must say I wear the same three shirts for what seems like the past two and a half three years and they have holes in them and I don't care but when I go out I don't wear my holy shirts but in the house I have three shirts that I wear around the house and that's the save money
Doesn’t Richard show off his expensive house and cars all of the time?
Ikr
@@medrich1 Yes because he already built up enough wealth to do so. But when you’re in the building stage you should look poor so you are able to build wealth.
Material things is what sells on social media platforms, talking about finance is what sells on social media platforms. But, "Where Are The Customers' Yachts?".(By Fred Schwed Jr.)
Naynay- I think you are missing the point. Earlier this week Richard was talking about having to sell his cars and his house if Nvidia did not do well. The article was talking about not showing off and not keeping up with the Jones’s. I think Richard should pay more attention to the articles he reads to his followers.
Buying stuff ain’t bad as long as your assets are paying for it
Richard., I would like to thank you for the information because we know all go through this at one point in life but some of us get stuck in ruck and find it hard to get out. Right now at this time I’m trying to stop digging that rabbit hole but it’s hard. So, that is why I listen to you because it helps motivate and keeps me grounded especially when it’s so many others around me who’s always got their hand out. It’s feels good to be a part of a winning team❤😊
Do as I say not as I do. Haha
😂
I am pretty DISCIPLINE in investing and managing my money on a weekly basis 😊
I always look up your videos when it comes to financial lessons. You are such a blessing to this community. People are financially struggling to put food on the table, yet no change is made. I appreciate Sharon Fogg alots, you’ve helped my family with your advice! Imagine investing $2,500 and receiving $9,300 in 4days 🇺🇸
My brother and I also joined her strategy and we made massive gains at the moment while under training. I am forever grateful to Ms Sharon Administration.
Spot on! Ms Fogg is all about simple techniques that are highly profitable.
Having someone like Ms Fogg. mentorship, who's not only a great innovator but will also put the best effort into getting the work done so well beautifully, She is the best ever.
Wow! Nice meeting people who also work with Sharon Fogg, she's the only one I trust, she got me proflts of 11,OOO with a little start up of 2,5OO and ever since she's been good.
I think Sharon's Fogg strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known.
I was in the matrix for a long time, until late 30’s I woke up plus Richard confirmed what I suspected… now thanks to Richard I have understand how the market works and I am investing, thank you Richard.
Now I'm not gonna lie I do enjoy a nice vacation yearly, however, I do invest and have an emergency fund and no credit cards. Finding a balance is what works best for "Me".
Exactly who want to start international traveling at 70 something. Its hard enough tackling hils of Portugal in your 30's. Take a vacation even if you need to finance that puppy😂. Every entity finances something. ..That highway you on Financed!...plane you flew on Fimanced if Corp.America has to do it...What make you think you any different
I’m a broke truck driver 👍
Good Day 🌄 👋
We don’t see Warren Buffet and all these Billionaires flaunting material things even though they have all the money in the world to buy them. It’s the poorest of us people do these things to impress others to make it seem as they’re rich when they’re not. My wife asked me the other day when am I going to upgrade our two 2014 Nissan cars and I said when the wheels and engine fall off. We owe no money on them, they run and take us from point A to point B, I maintained them myself and fix what need to be fixed during any mechanical issues. I just actually replaced the whole AC unit myself and saved $2000. We’re still rocking our iPhone 11 Pro Max’s and have no desire to upgrade them. We’re going to stick with them until they break and stop working. 😂
I don't want to give the impression that I'm doing well because it brings too much attention. I stopped purchasing junk years ago instead I invest more in the market.
You dont need 7 figures to be comfortable. Its a lifestyle problem!
Making $200k a year and still living check to check. Living above their means. Gotta have the biggest house, financing cars etc. Get a comfortable modest home, BUY your car and live. You can make $50k a year and still be saving $3k a month, When you get into stock investment, you can live simple and comfortable. Not lavish! I appreciate Maya Bryan the woman that guide me.
30:14 yeah… I’m real country. I used to get $1000(by saving), and think my stuff don’t stank. I get a vehicle, thinking that’s “success”…
I get joy in knowing i could buy things cash and not flinch but the greatest joy is not buying just stuff😁
It's not sad to use people... it's sad for people to allow themselves to be used.. first time shame on you.. second time shame on me 😞
Apples, samsungs... should produce pathetic things without real innovation every year in order to pump their stocks and pay to stock holders)
113.06
Ok comment section here we go again bruh fain driving Lamborghini and Audi don’t look po to me he’s contradicting his self once again y’all going for the banana in the tailpipe once again 😂😂😂😂😂
You got it. He so contradicts himself but he is very entertaining.
I'm turning my notifications off for this channel Bro. Everyday you talking about "Breaking News". You have more "Breaking News" than all of the news channels combined. When you really truly do have some real Breaking News, nobody is going to believe you because you say that 50,000 times a month. And there is a tease factor. Because when I see that "Breaking News" I get happy for only a second until I find out it is you. For a second I think it is other channels who actually do have some real Breaking News. Then I see oh that's just Richard. He likes to say "Breaking News" every day.
Dizam 😂facts rich you speaking truth sir skeee$$$
👍🏿
Big Rich lays pipe
Confused how is a Lambo and 2 other luxury cars looking poor. People if you got money dont be ashame to show it.
The key is to be able to afford those luxury items and not go into debt trying to look rich to make it seem to others you’re doing good when really you’re struggling.
@@naynaybreenay1396 Exactly, what some fail to understand is Richard delayed gratification until his WEALTH pays for his high ticket items. People can start making use of their funds after the growth stage. Living like you are poor, It is a mindset!
@@user-xv3gd6qr6m Yes totally agree, a lot people think that materialistic possessions makes them feel wealthy, which is the rat race mindset, and freedom is far out of their reach.
Probably just had poor taste in cars 😂
bruhh, I am poor tf are you talking about 😁