It is a pity that they don't tell more about how he went from earning ~$50K per year to save a million in only 5. Maths doesn't add up. Even if he saves 100% and he pays no bills, he can only get to ~$250K. Does restoring mopped give you a 1000% on return of investment?
Million in 5 years so $200,000 salary MINIMUM! Brilliant...now all i need to do is get a job that pays 6 figures Thanks a lot You're an ABSOLUTE LEG-END👍😏
1) what job allowed him to save so much? 2) he was living with parents: no expenses on house, property taxes, food, water, gas, electricity. Most people don't have that option. 3) What investments did he make and is that the average, or is this an exception story, and thus useless to others? Basically you didn't answer your own title
@@peacewalker3344 living with parents is always a good way to propel your financial position in your early 20s-30s until you get married (if you choose to). The western "moving out at 18" mindset was viable 10 to 20 years ago when expenses arent as inflated. The fact is that more family (in the west) are moving back to their parents home due to inability to pay for expenses and debts.
@@melonusk6120 Moving back to your parents can also have the benefit of spending more time with the people you love. Assuming you have a good relationship with your family.
@@peacewalker3344 as an asian without rich parents, point number 2 is a no-go. Living with my parents would not be subsidized housing, I'd like contribute more than I receive. Only the subpar relationship allows me to temporarily skirt this responsibility.
This was highly unspecific, especially given that he saved 1 million dollars in five years working a 50k per year job. The only specifics mentioned are that he worked second jobs & did odd jobs flipping repaired broken scooters & cat sitting his neighbors cats. That doesn't really seem like an equation that adds up to a million dollars on fove years.
It's due to understanding time and not thinking as an employee would. What he's saying is that he drastically reduced his expenses and then gave himself massive opportunities to earn more income. It was some of those opportunities that made huge payoffs, but plans aren't cookie cutter. You can't just take someone else's plan and make it work for you, but the idea is more about consistency with taking action.
the entire content of his message: "work multiple jobs, live as frugally as possible, invest" nothing new, not an available option to many people, and when it is available, it can easily backfire - both in regards to your health as well as your finances (not lucking out with your investment).
The ideal job nowadays to earn a lot in a short time is doing an online project. Crypto is just starting to boom in fact. Devs and content creators will have it good for the coming years. Lots of ways to work from anywhere in the world on the Internet if you're smart about it and serious in your time investment.
This is exactly why people stay broke. Obviously there are so many people in this world that are in situations that they don’t have opportunities. Most people probably. But let’s not act like there aren’t plenty of well educated people in this world that make a lot of money. Most people in these situations spend their money horribly and act like they never had a chance to retire early. Also, you don’t have to luck out if you invest in index funds. It’s literally the safest avenue that’s guaranteed to bring substantial gains
Plus not a chance of raising a family in that time. But I get it, the point is not to obsess over it, but to not forget it also. Achieving it in 5 years is possible, but not ideal
To save up a 1 million in 5 years, he would have had to put aside 200k per year without accounting for the interest during those 5 years. With the interest, which has to be way below 200k in total (too lazy to do the exact numbers), he still had to put aside 160k each year. Since he said his saving rate was 80%, that is an AFTER-TAX income of 200k/y!!! Please explain how the f to do that starting from living with your parents.
@@Interopader this 💯 I'm about to move in with 5 people, while I'm building my company. So much cheaper, I wanted my money to go towards the company, not a landlord. I have my own room, that's all i need.
I hate videos like this that use platitudes like "work agressively🤠" and not go into the nitty gritty. I would have to imagine he got some lucky stock trades or something along those lines in order to make 200k a year 5 years in a row.
That describes as iv found now just about 80%of all RUclips "self help" channels, it's all platitudes and bullshit with no specifics. Trying to find help with discovering at 30 I have asbergers, and every fucking channel that talks about how to cope, adjust or what asbergers is, is just filled with said platitudes and broad vague answers. These videos are all just ways to seem smart and make ad money. Even worse for wealth growth. Also... Who gets a 50k a year job out of the box? That's amazing! I'm lucky to make 30k a year full time working at my job! What's this bullshit about working multiple 50k a year full time jobs? That's psychotic.
@@samplastik13 If he is a high dividend investor, high inflation and bear markets doesn't matter, not only that but also if he has an emergency account he would be ok.
The gig economy isn't fit to get people wealthy; it's to add more income and allows for options. So for example, you can earn more to pay for skills or opportunities that will then generate income faster. Then you rise and repeat, if you are successful, you will not be working gigs because you built a business or something else that is consistently generating a lot of money.
The question posed at the end: How do build the life you love today while still investing in this uncertain future for yourself and the world? The answer is you find a problem worth fighting for that you are passionate about and you come up with a small way to solve some small portion of that problem in your corner of the world. For mine it's reducing auto dependency which earlier he stated that while he was trying to keep expenses low, he bought a 'crappy car.' I want a world where you don't have to buy a car at all, then you can save even more faster.
@@DylanBegazo but you don't need a car for any of those things. In Switzerland they have transit accessible mountain towns where you can take a train to the slopes or hiking or rock climbing. You only need one in North America but we set it up that way. Look at Zermatt, Switzerland. It's car free and you must arrive by train.
Great video!! Now I have more knowledge about finance. I spent 20 years in the military and unfortunately did not save in a TSP. I am fortunate enough to be retired at age 42 with a profit from my investments and pension. I wouldn't have been able to live my current lifestyle without couple of investment. After taxes I am left with about 25,000 bucks a month, I am debt free and just now starting to invest in real estate. I don't plan on working for someone else ever again. I just live a modest life and now invest heavily in the market with the help of an IA. I do get a 2-3% raise every year for inflation and this income is for the rest of my life. I am blessed and now I live a great stress free life while investing while I am retired.
Congratulations on your early retirement. Right now, I could really use some investment advice or tips on investing. Last year I hesitated until the year ended without making any move. This year I decided to try something because I'm very open to ideas on how I can invest. When I see your comment I believe that you have an experience in it that could be of great help to me. Hope you don't mind sharing?
@@jamesjack2074 It's not a problem at all! I would advise you to determine your investment horizon, but I recommend a long-term plan if you are looking to make a lot of profit on your investment. I created a long term investment plan with Olivia Diane Margaret who helped me invest and manage my investment which helped me a lot.
@@peterjames7001 I appreciate your advice. It's hard to find someone that's reliable. When I see what you've achieved by investing, I could really use your investment advisor., if you don't mind sharing her information.
Having a good financial planner is like having a mentor . I was losing my money trying to invest on my own but it was different from Olivia Diane Margaret . She has played a great role in improving my finances. Long before now, I relied solely on my work and salary. Right now, I have a way of making much money and without stress so I quit working for others . Honestly , investing isn’t a choice anymore but a must for anyone who wish to gain access to a good and an independent life.
So no explanation on how he did it? Caring for the neighbours cat does not allow you to save 1 millions in 5 years… to save 1 millions in 5 years you need to make 400 000$ a year after taxes with your job and investment… plus enough money to cover your expenses… so a little bit of explanation on how he was able to be so successful at investing or how he was able to increase is income so fast might of been a little but useful… now after watching another video from the same guy he starts explaining he want from selling a wordpress template website for 500$ to using the same template and selling another website for 50000$ 60 days later… thats the most unrealistic claim I have ever heard. People that make website shop around… they don’t just give a 50000$ contract to someone with barely any web design experience… this entire story sound completely fake. Which is probably why you did not got into any details.
Plot twist: this guy realised that the easiest way to make 1 million dollars is to convince people you have done it and then they will gladly give YOU a million dollars to tell them the "secret"
This guy with 37 years, looks like 57... *_TLDR:_*_ Read 10 books about financials and write one with your history, luckily you can earn money from your book and save bucks for your retirement!_
It went well for him but it wont work for everyone. Nothing is absolute. You need to make adjustments and this interview doesnt bring into light that reality. It is good to find your own financial way of living your life. Nothing wrong with that. Also he had the possibility to backup to parents home : this is very advantageous.
I will teach my kids not to leave the house so soon. Before you fly away just like that, first build a financial cushion upon whicch you can build someth else. Then go. And experience. I will ingrain that habit to my children.
exactly. with something as limiless as life conditions, nobody has the abosolute plan/trick/mentality to do any of that or any other success story in any other topic
Here me out - I don't want to retire. I enjoy building new things and kind of enjoy working. And while I'd love hiatuses, I don't think I'll ever save up towards retirement. I think stuff like my college (right now), a house, a car, a vacation or my children's education is something I'd like to save for. I like the idea of financial freedom but not of being retired.
You're misunderstanding the idea of retirement. It doesn't mean that you can't continue to earn income, but it does mean that you have earned enough to pay for your living expenses and more for the rest of your life. Also you don't just save money alone, you must invest your money as well. If you don't have the luxury of time, it just means that you have to do things a lot more quickly.
They lose value for a while but if you hold them then they increase in value to above the pre-crash value. Stocks are a long game and you generally buy without intention of selling for 5-20 years. Stock crashes are temporary and stocks return to their pre-crash value after a bit of time. Buy companies like Apple who just go up 10% or more each year and always have. They also have almost no risk since these companies aren't dying anytime soon. You can try stock casino and gamble on quick-flip stocks but you'd probably just lose your money. Stocks aren't gambling if you don't buy those that can lose.
BS BS BS BS BS BS BS BS BS BS BS BS BS BS BS BS ! ! He had a salary of 50K but socked way $200K per year after taxes. Let's say the 200K is 80% of disposable income and income tax is 40% He would need an income of 400K
This doesn't add up... For him to save a mil in 5 years he'd have to save about 200k per year. How many menial jobs does it take to make that much money per year? Not to mention his living expenses. My guess is that he invested in crypto and go lucky, and I'm guessing that, now, with the market crashing, his million has probably been cut down into half or less.
I always prioritised now and here above then and somewhere else. Almost everybody I know is always so focused on later and retirement and what they gonna do next. Well what if there's no next for you, what if you die young? And you're only young once, I always wanted to do the cool stuff when I was young, still doing it with 43 though. I'm a fitness and kitesurf-instructor and I often teach older people who want to learn kitesurfing, once they have time and money, but their bodies are old and brittle, because their only focus was on the future, the money, etc. Never on now, here and fun & health. I might not ever retire, but I won't regret my life, because I already did everything I wanted to do anyway.
Who ever said that you can't do both? You can definitely live your life to the fullest and plan for the future. You aren't considering other factors that made it so that many people failed to do that. It's way too much to dive into within comments but I just wanted to point this out. Yes, you may have to make tradeoffs at times but if you are taking action then you should be hitting your goals.
you gotta love the broke people who dont do any research. Over a long time period the stock market has never lost money the key is holding for the long term period
Sorry this just doesn't add up. So you save 50percent of 52000 dollars a year for 5 years. That's 125000 dollars. Then you make 875000 USD by building websites for lawyers pet sitting fixing mopeds and what?
Everyone is criticizing this video... Yet here he is, he did it. Instead of being humble and trying to seek more information, most of you are just bashing the video. That's why you are poor
I went all into crypto March 2020. I was homeless and broken. Nothing left. Now I feel guilty. Trailer trash from Indiana.. Should anyone make 10 thousand percent on an investment? Morals and ethics. Do they matter? 800 dollars to 1.4 million. Is that right? My future is secure after decades of a nightmare.. Remember that guy that walked in front of a tank in tiananmen all those years ago? 1600% on MBL this week. 14 month trade. But, still. Is it right? I used to help everyone.. I still do, just not to the extent.. Constantly being told fuk those people. They are lesser humans. Good luck everyone...
Investment income, real estate income, and income through his several legitimate businesses. He goes into way more detail in his book, which you should probably read.
If you retire at 35 you're gonna need a lot more than $1 million. Assuming you only live to 65, that's just $33k a year; hardly enough to live comfortably anywhere in the US.
Your ears probably blocked out all the parts where they were talking about investing and explaining how the money would last. And they you come to the comments making yourself look so dumb
How would this work if one has kids? So many of us have already started a family so this wouldn’t work for many people who Support MULTIPLE people in a family.. not everyone has parents to fall back on financially either, just saying. Must be nice to have the opportunities you’ve been given by others too! Takes a village dude… or your parents 😑
Invest in yourself. Learn as many specialized skills, trades, and professions as possible and start legitimate businesses. Also, invest in income producing real estate.
It's the interest from having that one million not liquid that he will live off. Depending on how much he spends will determine if that one million increases or not.
CAP. Saving 1 million at the expense of his own health from the looks of it and the enjoyment of his prime years... that 1 million allowed him to retire at 30 but won't last 10 years. He's basically going to live frugal his whole life.... in addition to not even having a partner...
and when/if he gets hit by a bus tomorrow, after spending the last 7yrs with very LITTLE enjoyment. wouldn't you have rather had great life experiences, share it with people you love etc and take memories to the grave? Not be remembered for how much cash you had, or how distant you were from family and friends
Load of BS his parents house and land is worth more than $2.65 not everyone has such opportunity's, to land 50K job, or go to college, even if they are young and strong, I have always lived on a shoestring budget, cook at home, don't drink or smoke or drugs but on minimum wage. hard physical work is not a guarantee you get rich, but can often guarantee you may end up wearing yourself out, with broken back or at least arthritis. Saving is BS with such pathetic interest rates most banks pay today, is the best way to see your money become more worthless over the years with inflation and investing you can loose everything if you don't understand the share market that stuff was not taught at most public schools in the past. he was lucky had the right support, opportunities.
Go watch a vid on index funds. The reason why you're broke is you dont know anything about investing so how about you go watch a few vids its not complicated at all
Stop making people think they can retire early because they have to accumulate so much money, and make them think everyone can do that because guess what, you're wrong. The amount of money on any country is always the same so if you get rich, other people have to have less money, you selfish. All you do is producing speculation.
Duude that's a limiting belief that stops you from making money. The more value you give to people the more money you can earn. Simple as that. This guy is just trying to make money with marketing himself as an expert. He is probably not a millionaire just trying to be by scamming people. But anyways, you can make millions without being unethical. And most people won't make a million in 5 years. But in 10 years is totally possible if you invest your money and then you can live off the passive income that this money generates.
@@roberteischen4170 ikr people who think like that are sooo dumb. just look at the world 100 years ago we are miles richer as a whole how is that possible? who did we steal all this wealth from? wealth can be created it dosent need to be stolen
Yeah right! Not with the current economy. With negative interest, savings and investments arent growing, they're depreciating. This is not relevant for the current times!
This is the same Grant Sabatier who posted an article on CNBC on Decemeber 12th 2017 advising people NOT to invest in Bitcoin. Now it makes sense as to why he is a millionaire. Nice fudding tactics, Grant!
Just goes to show you how financially dumb they are and dependent of parents. If the parents raised them this way then he shoud be able to stay with them until taught some REAL INDEPENDENT financial responsibility.
It’s supposed to be inspiring, but it’s 7 minutes about nothing. Leaves many important questions unanswered. One can only assume that investing in a stock market and a LOT of luck helped him to accumulate 1 mil. And nowadays USD 1M is not enough to retire, especially in the USA, especially in these market conditions. Low quality material 🙁
Depending on where you live in America, 1 million dollars is more than enough to retire comfortably on. I would still work for myself or get a part-time job that has benefits because a health emergency can easily wipe out all of your savings. Or just move to a very low cost of living country to retire in.
I keep telling people that they're crazy for paying $100 each month for a phone plan when wifi is literally at home and every stop. I was paying $20/m on the cheapest plan then lost my phone and realized that I don't even need to pay that. Also, can't complain about not getting paid enough when you buy restaurant food one or more times each week. This is my first time hearing about FIRE but I've been practicing some aspects of it for a while. Instead of retiring in 5 years I'm just working fewer days each week. Money goes into stocks like Apple. Google is a good buy now since they're going to be splitting stocks this year. Reliable stocks are both savings and generate tons of extra money for no cost.
Most dont reslize this BS raises the bar for what other can afford. Its the parent's that have them the financial stability and not REAL INDEPENDENT support. This is why most things are out of reach for many. Others are going to charge what others are willing to pay. Thats what screws up the economy for common people. I say to the parents kick your siblings out at 18 or live with them forever.
You sound like a horrible parent, and I guarantee your kids are going to end up resenting you. I wouldn't be surprised if your kids don't show up at your funeral.
25x your yearly income means you expect to earn 4% per year? Or do you plan growth in there? Because I'm staking Cardano with an APY of 4.5%, but I don't have 25 years saved up. I had nothing even working 40h a week i couldn't save up properly on my first job. But then I did nothing for a while, and when one of my parents died I had 25k which I used to get into crypto and not have to work short term while I make it snowball hopefully. I'm anti social I can't bear having a regular job. I would rather be creative with online projects. After learning to invest it was a wake up call for my monthly expenses though now I still don't totally deprive myself, but I also know that it's the small things that truly add up, you can still indulge and save, it's about being smart on the amounts you spend and going underboard with a mindset of profuse scarcity rather than overboard as a general rule. If you can stay below the line and be happy like that, saving will not be a monthly check anymore, but rather a side effect of having the right mentality with money. Then all you have to do is calculate your goals indeed, what would be enough to yield enough to live yearly and monthly, and investing enough to get that return. I believe it's also important to invest in ethical projects and not play the pump and dump game that ends up hurting someone in the same market. On top of that, if you can keep a source of income on the side, then you can make your profits snowball instead of starting to rely on them from the day of investment. The longer the better.
What do you think of the FIRE strategy?
It is a pity that they don't tell more about how he went from earning ~$50K per year to save a million in only 5. Maths doesn't add up. Even if he saves 100% and he pays no bills, he can only get to ~$250K. Does restoring mopped give you a 1000% on return of investment?
a massive failure made by a desperate man who is pretending he has got a strategy when he actually does not have any strategy
Are you serious?
8 minutes of stuff everyone already knows
😩Spend less than you earn
😩Save lots of money
😩Don't waste your money
Brilliant!😏
Million in 5 years
so $200,000 salary MINIMUM!
Brilliant...now all i need to do is get a job that pays 6 figures
Thanks a lot
You're an
ABSOLUTE LEG-END👍😏
I'm all about that FIRE life... One of the reasons I'm a minimalist.
1) what job allowed him to save so much? 2) he was living with parents: no expenses on house, property taxes, food, water, gas, electricity. Most people don't have that option. 3) What investments did he make and is that the average, or is this an exception story, and thus useless to others?
Basically you didn't answer your own title
as an asian, point number 2 is moot for me
@@peacewalker3344 living with parents is always a good way to propel your financial position in your early 20s-30s until you get married (if you choose to). The western "moving out at 18" mindset was viable 10 to 20 years ago when expenses arent as inflated. The fact is that more family (in the west) are moving back to their parents home due to inability to pay for expenses and debts.
@@melonusk6120 Moving back to your parents can also have the benefit of spending more time with the people you love. Assuming you have a good relationship with your family.
He is lucky I give 90% of my check & I live with parents. Lucky.
@@peacewalker3344 as an asian without rich parents, point number 2 is a no-go. Living with my parents would not be subsidized housing, I'd like contribute more than I receive. Only the subpar relationship allows me to temporarily skirt this responsibility.
This was highly unspecific, especially given that he saved 1 million dollars in five years working a 50k per year job. The only specifics mentioned are that he worked second jobs & did odd jobs flipping repaired broken scooters & cat sitting his neighbors cats. That doesn't really seem like an equation that adds up to a million dollars on fove years.
It's due to understanding time and not thinking as an employee would. What he's saying is that he drastically reduced his expenses and then gave himself massive opportunities to earn more income. It was some of those opportunities that made huge payoffs, but plans aren't cookie cutter. You can't just take someone else's plan and make it work for you, but the idea is more about consistency with taking action.
the entire content of his message: "work multiple jobs, live as frugally as possible, invest"
nothing new, not an available option to many people, and when it is available, it can easily backfire - both in regards to your health as well as your finances (not lucking out with your investment).
The ideal job nowadays to earn a lot in a short time is doing an online project. Crypto is just starting to boom in fact. Devs and content creators will have it good for the coming years. Lots of ways to work from anywhere in the world on the Internet if you're smart about it and serious in your time investment.
This is exactly why people stay broke. Obviously there are so many people in this world that are in situations that they don’t have opportunities. Most people probably. But let’s not act like there aren’t plenty of well educated people in this world that make a lot of money. Most people in these situations spend their money horribly and act like they never had a chance to retire early. Also, you don’t have to luck out if you invest in index funds. It’s literally the safest avenue that’s guaranteed to bring substantial gains
Plus not a chance of raising a family in that time. But I get it, the point is not to obsess over it, but to not forget it also. Achieving it in 5 years is possible, but not ideal
What's the point of your comment?
To save up a 1 million in 5 years, he would have had to put aside 200k per year without accounting for the interest during those 5 years. With the interest, which has to be way below 200k in total (too lazy to do the exact numbers), he still had to put aside 160k each year. Since he said his saving rate was 80%, that is an AFTER-TAX income of 200k/y!!! Please explain how the f to do that starting from living with your parents.
Dude what interest. You do know we live in a 0% economy right now, lmao?
@@IndicatedGoodLife yh if your an idiot keeping with your whole net worth in the bank
Exactly. It's a weird story that doesn't add up.
YUP
@@IndicatedGoodLife not anymore bro
How can I predict my future living expenses when rent in my country has gone up 30% every year for the last 3 years?
Live with roommates. Split the cost. The market is a bubble, prices will go down.
@@Interopader this 💯 I'm about to move in with 5 people, while I'm building my company. So much cheaper, I wanted my money to go towards the company, not a landlord. I have my own room, that's all i need.
@@wovasteengova Exactly. You make money while forcing the market to reduce prices.
I mean, who says you are forced to live in one county?
By owning part of the real estate and food production market. The increases in expenses will also be increases in portfolio growth.
I hate videos like this that use platitudes like "work agressively🤠" and not go into the nitty gritty. I would have to imagine he got some lucky stock trades or something along those lines in order to make 200k a year 5 years in a row.
And as soon as they have money: " time is more valuable"
5:03
I wonder how he deals with high inflation and bad financial market 🤔
That describes as iv found now just about 80%of all RUclips "self help" channels, it's all platitudes and bullshit with no specifics. Trying to find help with discovering at 30 I have asbergers, and every fucking channel that talks about how to cope, adjust or what asbergers is, is just filled with said platitudes and broad vague answers. These videos are all just ways to seem smart and make ad money. Even worse for wealth growth.
Also... Who gets a 50k a year job out of the box? That's amazing! I'm lucky to make 30k a year full time working at my job! What's this bullshit about working multiple 50k a year full time jobs? That's psychotic.
@@samplastik13 If he is a high dividend investor, high inflation and bear markets doesn't matter, not only that but also if he has an emergency account he would be ok.
Doesn’t really say how he saved $200,000.00 a year at all. That’s over $5,000 a week every week, after taxes.Normal working people can’t do that.
@@mikaelcotia5210 uh no. Try again.
This is the 1st time I've heard the gig economy used to get wealthy & not just to barely make ends meet.
The gig economy isn't fit to get people wealthy; it's to add more income and allows for options. So for example, you can earn more to pay for skills or opportunities that will then generate income faster. Then you rise and repeat, if you are successful, you will not be working gigs because you built a business or something else that is consistently generating a lot of money.
The question posed at the end: How do build the life you love today while still investing in this uncertain future for yourself and the world? The answer is you find a problem worth fighting for that you are passionate about and you come up with a small way to solve some small portion of that problem in your corner of the world. For mine it's reducing auto dependency which earlier he stated that while he was trying to keep expenses low, he bought a 'crappy car.' I want a world where you don't have to buy a car at all, then you can save even more faster.
But what if you like cars so you can travel through nature because you like camping and snow boarding and hiking and rock climbing? Need a car.
@@DylanBegazo but you don't need a car for any of those things. In Switzerland they have transit accessible mountain towns where you can take a train to the slopes or hiking or rock climbing. You only need one in North America but we set it up that way. Look at Zermatt, Switzerland. It's car free and you must arrive by train.
He saved 1 million in 4 years? He made 250,000 a year from being broke?
May be 100,000 in yr1
200,000 in yr 2
300,000 in yr 3
400,000 in yr 4
He must of put it in dividend portfolio from vanguard or something.
he saved less than that, if you save 100.000 in the first year, you invest in the stock market, in 4 years that 100K will be way more
@@glauberamos yeah it will be 150,000 in vanguard on a good run after 4 years. He would still be 400k short
NO LIFE😂
Great video!! Now I have more knowledge about finance. I spent 20 years in the military and unfortunately did not save in a TSP. I am fortunate enough to be retired at age 42 with a profit from my investments and pension. I wouldn't have been able to live my current lifestyle without couple of investment. After taxes I am left with about 25,000 bucks a month, I am debt free and just now starting to invest in real estate. I don't plan on working for someone else ever again. I just live a modest life and now invest heavily in the market with the help of an IA. I do get a 2-3% raise every year for inflation and this income is for the rest of my life. I am blessed and now I live a great stress free life while investing while I am retired.
Congratulations on your early retirement. Right now, I could really use some investment advice or tips on investing. Last year I hesitated until the year ended without making any move. This year I decided to try something because I'm very open to ideas on how I can invest. When I see your comment I believe that you have an experience in it that could be of great help to me. Hope you don't mind sharing?
@@jamesjack2074 It's not a problem at all! I would advise you to determine your investment horizon, but I recommend a long-term plan if you are looking to make a lot of profit on your investment. I created a long term investment plan with Olivia Diane Margaret who helped me invest and manage my investment which helped me a lot.
@@peterjames7001 I appreciate your advice. It's hard to find someone that's reliable. When I see what you've achieved by investing, I could really use your investment advisor., if you don't mind sharing her information.
@@jamesjack2074 Okay, I work with *OLIVIA DIANE MARGARET.* You can browse about her for more info. She is U.S based.
Having a good financial planner is like having a mentor . I was losing my money trying to invest on my own but it was different from Olivia Diane Margaret . She has played a great role in improving my finances. Long before now, I relied solely on my work and salary. Right now, I have a way of making much money and without stress so I quit working for others . Honestly , investing isn’t a choice anymore but a must for anyone who wish to gain access to a good and an independent life.
Bro your 30+ you've got time trust me you did the right thing
I think there's more to his story, but I like the FIRE strategy
This is truly inspiring
So no explanation on how he did it? Caring for the neighbours cat does not allow you to save 1 millions in 5 years… to save 1 millions in 5 years you need to make 400 000$ a year after taxes with your job and investment… plus enough money to cover your expenses… so a little bit of explanation on how he was able to be so successful at investing or how he was able to increase is income so fast might of been a little but useful… now after watching another video from the same guy he starts explaining he want from selling a wordpress template website for 500$ to using the same template and selling another website for 50000$ 60 days later… thats the most unrealistic claim I have ever heard. People that make website shop around… they don’t just give a 50000$ contract to someone with barely any web design experience… this entire story sound completely fake. Which is probably why you did not got into any details.
Plot twist: this guy realised that the easiest way to make 1 million dollars is to convince people you have done it and then they will gladly give YOU a million dollars to tell them the "secret"
yeah this video is bullshit, guy makes 50,000 a year and claims he made 1 million in 5. The maths doesn't add up
Curious to know where he’s investing his money to get the 50k a year off of 1 milli
This video is great
*This is as bogus as a three dollar bill. Uploader should be ashamed.*
Thank s for sharing brother
Dude raised average $15,800 per month for 5 years & 3 months. Very very very interesting.
This guy with 37 years, looks like 57...
*_TLDR:_*_ Read 10 books about financials and write one with your history, luckily you can earn money from your book and save bucks for your retirement!_
You're so right.. i bet more than half the "experts" and advice givers in all subjects on RUclips do exactly what you just said 👌
It went well for him but it wont work for everyone. Nothing is absolute. You need to make adjustments and this interview doesnt bring into light that reality. It is good to find your own financial way of living your life. Nothing wrong with that. Also he had the possibility to backup to parents home : this is very advantageous.
I will teach my kids not to leave the house so soon. Before you fly away just like that, first build a financial cushion upon whicch you can build someth else. Then go. And experience. I will ingrain that habit to my children.
exactly. with something as limiless as life conditions, nobody has the abosolute plan/trick/mentality to do any of that or any other success story in any other topic
sounds great if you have parents or friends willing to put you up for free.
As comedian Steve Martin explained the strategy, "First, get a million dollars." This video is pure CLICKBAIT
Good Luck to you.
Good luck to all of us. We'll need it.
Here me out - I don't want to retire.
I enjoy building new things and kind of enjoy working. And while I'd love hiatuses, I don't think I'll ever save up towards retirement. I think stuff like my college (right now), a house, a car, a vacation or my children's education is something I'd like to save for.
I like the idea of financial freedom but not of being retired.
You're misunderstanding the idea of retirement. It doesn't mean that you can't continue to earn income, but it does mean that you have earned enough to pay for your living expenses and more for the rest of your life. Also you don't just save money alone, you must invest your money as well. If you don't have the luxury of time, it just means that you have to do things a lot more quickly.
This guy will love these inflation rates
So if I made 200K per year I would keep working and be really well off...
Cool video - enjoyed hearing Grant's story.
I don't know anything about investing but what happens if the market crashes? Don't your savings lose value?
They lose value for a while but if you hold them then they increase in value to above the pre-crash value. Stocks are a long game and you generally buy without intention of selling for 5-20 years. Stock crashes are temporary and stocks return to their pre-crash value after a bit of time. Buy companies like Apple who just go up 10% or more each year and always have. They also have almost no risk since these companies aren't dying anytime soon. You can try stock casino and gamble on quick-flip stocks but you'd probably just lose your money. Stocks aren't gambling if you don't buy those that can lose.
@@Yui714 Thanks for the explanation. I should look into this a bit more
Videos like this are the reason RUclips removed the dislike button-
me at 31 still broke o_O
BS BS BS BS BS BS BS BS BS BS BS BS BS BS BS
BS ! ! He had a salary of 50K but socked way $200K per year after taxes. Let's say the 200K is 80% of disposable income and income tax is 40% He would need an income of 400K
Yes Believe in the power of choice
Good content
This doesn't add up... For him to save a mil in 5 years he'd have to save about 200k per year. How many menial jobs does it take to make that much money per year? Not to mention his living expenses. My guess is that he invested in crypto and go lucky, and I'm guessing that, now, with the market crashing, his million has probably been cut down into half or less.
😆😆😆
7:11 hits home
He must have invested in stocks or similar. If he'd saved 100% of his earnings he wouldn't have saved $1m.
Yes. Read his book. He go's into more detail.
video mentions nothing of any debt he had. it's easy to save if you live with your parents for a bit and have no debt.
Hoe much debt would u have 30 50 100k? He saved a mil in 5 years what that debt wouldnt change anything
@@ibrahibrak4210 who you callin' a hoe?!
I always prioritised now and here above then and somewhere else. Almost everybody I know is always so focused on later and retirement and what they gonna do next. Well what if there's no next for you, what if you die young?
And you're only young once, I always wanted to do the cool stuff when I was young, still doing it with 43 though. I'm a fitness and kitesurf-instructor and I often teach older people who want to learn kitesurfing, once they have time and money, but their bodies are old and brittle, because their only focus was on the future, the money, etc. Never on now, here and fun & health. I might not ever retire, but I won't regret my life, because I already did everything I wanted to do anyway.
Who ever said that you can't do both? You can definitely live your life to the fullest and plan for the future. You aren't considering other factors that made it so that many people failed to do that. It's way too much to dive into within comments but I just wanted to point this out. Yes, you may have to make tradeoffs at times but if you are taking action then you should be hitting your goals.
I gotta love watching this as the stock market crashes, lol.
you gotta love the broke people who dont do any research. Over a long time period the stock market has never lost money the key is holding for the long term period
@@ibrahibrak4210 sure genius, go ahead
@@v-22 10% of the rich own 90% of stocks.
The other 90% own 10% of stocks, you just proved why the poor get poorer and rich get richer. Stay fearfull
This video is a joke, right?
Sorry this just doesn't add up. So you save 50percent of 52000 dollars a year for 5 years. That's 125000 dollars. Then you make 875000 USD by building websites for lawyers pet sitting fixing mopeds and what?
I don’t want to do capitalism anymore. What are my options?
selfsubsistence poverty,
@@moneyobsessed does it have to be poverty? Can’t I just live in the woods?
move to europe
van life
@@1MinuteFlipDoc I’m thinking van life
does this mean he still live in his “crappy” house？
Everyone is criticizing this video... Yet here he is, he did it.
Instead of being humble and trying to seek more information, most of you are just bashing the video. That's why you are poor
INFLATION
Louder!!
@@seitanbeatsyourmeat666 😅😅
Im unsure if the details check out here
1. No women. So therefore, 2. No kids. Early retirement far easier in that scenario.
Tell that to Millennials who's swore off having kids because they're too expensive.
good for him
I went all into crypto March 2020. I was homeless and broken. Nothing left. Now I feel guilty. Trailer trash from Indiana.. Should anyone make 10 thousand percent on an investment? Morals and ethics. Do they matter? 800 dollars to 1.4 million. Is that right? My future is secure after decades of a nightmare.. Remember that guy that walked in front of a tank in tiananmen all those years ago? 1600% on MBL this week. 14 month trade. But, still. Is it right? I used to help everyone.. I still do, just not to the extent.. Constantly being told fuk those people. They are lesser humans. Good luck everyone...
damn i cant imagine how wild the ride must've been for you
Congrats man, I hope you invest into longer term investments that produce cash flow so you can keep your wealth
this video is somewhat missguiding, it doesn't give us the math how he actually saved 1 million, @freethink wtf?
literally gives no information on how he saved a million dollars.
His 52,000 over 5 years at 100% savings is $250,000, where's the other 750k from
Investment income, real estate income, and income through his several legitimate businesses. He goes into way more detail in his book, which you should probably read.
I never did a day's work in my life. It was all fun.
Thomas A. Edison
If you retire at 35 you're gonna need a lot more than $1 million. Assuming you only live to 65, that's just $33k a year; hardly enough to live comfortably anywhere in the US.
Your ears probably blocked out all the parts where they were talking about investing and explaining how the money would last. And they you come to the comments making yourself look so dumb
How would this work if one has kids? So many of us have already started a family so this wouldn’t work for many people who Support MULTIPLE people in a family.. not everyone has parents to fall back on financially either, just saying. Must be nice to have the opportunities you’ve been given by others too! Takes a village dude… or your parents 😑
I'm guessing you'll just need more time than he did, since kinds are basically extra expenses.
The biggest faces of FIRE apparently achieved retirement while taking care of 2 kids
This sounds like big BS
Step 1: Find 50k Income job.
He did good! :-) Wonder if he might recommend best investments he has found?
Invest in yourself. Learn as many specialized skills, trades, and professions as possible and start legitimate businesses. Also, invest in income producing real estate.
So he retired at 30 and will only have $1 mil for the next 40-60 years?
It's the interest from having that one million not liquid that he will live off. Depending on how much he spends will determine if that one million increases or not.
The information is so vague I guess we have to buy his book.
Correct! Buy his book. It goes into way more detail.
CAP. Saving 1 million at the expense of his own health from the looks of it and the enjoyment of his prime years... that 1 million allowed him to retire at 30 but won't last 10 years. He's basically going to live frugal his whole life.... in addition to not even having a partner...
The interest you get from $1m is more than enough to live off. Just keep it above that $1m.
and when/if he gets hit by a bus tomorrow, after spending the last 7yrs with very LITTLE enjoyment. wouldn't you have rather had great life experiences, share it with people you love etc and take memories to the grave? Not be remembered for how much cash you had, or how distant you were from family and friends
@@MrM1CHA3L exactly!
@@roberteischen4170 yet he doesn't live life...madness
But what DID he do
Did you not watch the video? Or if you want more details, maybe read his book 📖
Middle Class, College educated, Cis, hetro white guy with two parents cracks the code.
* shocked face *
Load of BS his parents house and land is worth more than $2.65 not everyone has such opportunity's, to land 50K job, or go to college, even if they are young and strong, I have always lived on a shoestring budget, cook at home, don't drink or smoke or drugs but on minimum wage. hard physical work is not a guarantee you get rich, but can often guarantee you may end up wearing yourself out, with broken back or at least arthritis.
Saving is BS with such pathetic interest rates most banks pay today, is the best way to see your money become more worthless over the years with inflation
and investing you can loose everything if you don't understand the share market that stuff was not taught at most public schools in the past. he was lucky had the right support, opportunities.
Go watch a vid on index funds. The reason why you're broke is you dont know anything about investing so how about you go watch a few vids its not complicated at all
Stop making people think they can retire early because they have to accumulate so much money, and make them think everyone can do that because guess what, you're wrong. The amount of money on any country is always the same so if you get rich, other people have to have less money, you selfish. All you do is producing speculation.
Duude that's a limiting belief that stops you from making money. The more value you give to people the more money you can earn. Simple as that. This guy is just trying to make money with marketing himself as an expert. He is probably not a millionaire just trying to be by scamming people. But anyways, you can make millions without being unethical. And most people won't make a million in 5 years. But in 10 years is totally possible if you invest your money and then you can live off the passive income that this money generates.
"Don't give me hope... let me wallow in self pity. Oh woo is me, the world is so cruel and unfair."
@@roberteischen4170 ikr people who think like that are sooo dumb. just look at the world 100 years ago we are miles richer as a whole how is that possible? who did we steal all this wealth from? wealth can be created it dosent need to be stolen
Yeah right! Not with the current economy. With negative interest, savings and investments arent growing, they're depreciating. This is not relevant for the current times!
BS
This is the same Grant Sabatier who posted an article on CNBC on Decemeber 12th 2017 advising people NOT to invest in Bitcoin. Now it makes sense as to why he is a millionaire. Nice fudding tactics, Grant!
I agree, Bitcoin is a scam. I've met more people who have lost everything in crypto than with anything else.
@AK-47ISTHEWAY i never said bitcoin was a scam.
Just goes to show you how financially dumb they are and dependent of parents. If the parents raised them this way then he shoud be able to stay with them until taught some REAL INDEPENDENT financial responsibility.
It’s supposed to be inspiring, but it’s 7 minutes about nothing. Leaves many important questions unanswered. One can only assume that investing in a stock market and a LOT of luck helped him to accumulate 1 mil. And nowadays USD 1M is not enough to retire, especially in the USA, especially in these market conditions.
Low quality material 🙁
Depending on where you live in America, 1 million dollars is more than enough to retire comfortably on. I would still work for myself or get a part-time job that has benefits because a health emergency can easily wipe out all of your savings. Or just move to a very low cost of living country to retire in.
I keep telling people that they're crazy for paying $100 each month for a phone plan when wifi is literally at home and every stop. I was paying $20/m on the cheapest plan then lost my phone and realized that I don't even need to pay that. Also, can't complain about not getting paid enough when you buy restaurant food one or more times each week.
This is my first time hearing about FIRE but I've been practicing some aspects of it for a while. Instead of retiring in 5 years I'm just working fewer days each week. Money goes into stocks like Apple. Google is a good buy now since they're going to be splitting stocks this year. Reliable stocks are both savings and generate tons of extra money for no cost.
Go watch graham stephans vid on index funds its extremely informative. Also stock splits dont change anything
fInAnCiAl iNdEpEnDeNcE 🤡🤡🤡
So, it's an ad for a book written by a guy I don't respect? FFS.
Not going to make it to 65.
Most dont reslize this BS raises the bar for what other can afford. Its the parent's that have them the financial stability and not REAL INDEPENDENT support. This is why most things are out of reach for many. Others are going to charge what others are willing to pay. Thats what screws up the economy for common people. I say to the parents kick your siblings out at 18 or live with them forever.
You sound like a horrible parent, and I guarantee your kids are going to end up resenting you. I wouldn't be surprised if your kids don't show up at your funeral.
25x your yearly income means you expect to earn 4% per year? Or do you plan growth in there? Because I'm staking Cardano with an APY of 4.5%, but I don't have 25 years saved up. I had nothing even working 40h a week i couldn't save up properly on my first job. But then I did nothing for a while, and when one of my parents died I had 25k which I used to get into crypto and not have to work short term while I make it snowball hopefully. I'm anti social I can't bear having a regular job. I would rather be creative with online projects. After learning to invest it was a wake up call for my monthly expenses though now I still don't totally deprive myself, but I also know that it's the small things that truly add up, you can still indulge and save, it's about being smart on the amounts you spend and going underboard with a mindset of profuse scarcity rather than overboard as a general rule. If you can stay below the line and be happy like that, saving will not be a monthly check anymore, but rather a side effect of having the right mentality with money. Then all you have to do is calculate your goals indeed, what would be enough to yield enough to live yearly and monthly, and investing enough to get that return. I believe it's also important to invest in ethical projects and not play the pump and dump game that ends up hurting someone in the same market. On top of that, if you can keep a source of income on the side, then you can make your profits snowball instead of starting to rely on them from the day of investment. The longer the better.
1 mil is not enough to retire, especially for a 30 yrs old.