Retired, receiving about 87k in dividends. I have been in the market about 30 years. Am I worried? Of course. Am I selling? Absolutely not. I have purchased stock a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding a little at a time. I am not going to panic. my investment strategy actually calm me down. It is difficult not to make emotional decisions in times like these. Eye on the prize, stay the course!
Nice one, i am so tired of working a 9 to 5, not that i dont fit my bills, i just dont know how long this would last. so much work. what strategy and pattern did you apply in order to start making consistent profit from your investment?
At first I thought this would be one of those scam comments about Mr or Mrs whoever that helped you learn to invest lol. Pleasantly surprised though. God bless you man.
I saw Tai Lopez in the beginning part of the video..he is actually very sharp and I have sent the 67 steps to a lot of kids I mentor and its a great program. Its never 1 thing with money its a combination of things you do. I went from making $2K/month to making $20K-$50K/month and none of it had to do with saving or managing my money. I had an income problem in the past. I do own commercial buildings now but back then it was about increasing income first
Disregarding any debt because that's situational.. My rule is a question, How Old Are You?? That's how much money you should have saved up(5 digits) more or less. Obviously highschool and college ages are situational too. But if you're at least 30+ years old than this rule should apply to you the most. Ex: 35 years old = 35k in savings 57 years old = 57k in savings Hopefully its a lot more as you age but its the general concept that matters...
I just turned 20 this year and currently at my second year of Psychology. Knowing that in a little while I'll have to go independent scares me. Thanks for laying all this out.
I'm doing 20/5/75 currently. Took me a while to get there though, learning to pay myself first was key. When you realize that money can buy you freedom, it's a lot easier to eliminate your other desires.
That’s amazing. In no time you’ll reach FI. My goal was to become 0/10/90, where investment income can pay for all the >needs< and wage income goes towards >wants< and >investments
Omgg, those proportions blow my mind! Do you have a really high income whereby 5% on personal spending/wants is still a lot? Would you mind sharing numerically how much your personal spending/wants category is? Mine is $200 and I struggle with this so much! Thanks!
@@leahmcdermott4189 Yeah no problem! I actually have quite a few fortunate things going for me. I make ~80k a year as an engineer, in a very low cost of living city (Toledo, OH). I also own my home outright, so my housing now is just utilities and property taxes. I'm also way too frugal for my own good, I don't really do vacations (I'm saving for the best unlimited vacation) and I still drive the 08 Civic I bought new. Actually for me the wants category is just eating out, I couldn't do without good food lol
I considered ways to get my savings to work for me and make me more profit, although it’s with the help of a financial expert, I’m steady making good ROI.
Of course, there is. Having experienced hands guiding you is also a part of the rule that most newbies overlook and end up losing money. Got expert hands to oversee my trades now I've gone on to earn 3x more than I was doing before.
@Reyansh Bhatt like I stated, I've been putting aside money in the market with the assistance of an executive-trade analyst, Levi Clemans, who is under a licensed broker. He has been the backbone of my trades.. Here,
I’m also trying to earn, doesn’t matter if I have to pay a token, as long as he can help me trade and I can make income from it while I’m fully focused on building a career for myself I’m ok. Left a message thanks
It’s safe to say that Levi Clemans is indeed legitimate after a succession of payouts. I have no doubts investing more, he even turned down my gift token and asked me to give it to charity saying, “God has blessed with everything I need, be His servant and help the less fortunate” .
Successful people don't become victorious overnight. What most people see as a glance wealth, a great career purpose is the results of hard work and hustle over time. I pray that anyone reading this will be successful in life..
I know it may seem silly or obvious, but when you highlighted that personal finance is PERSONAL, that resonated. I think many people get caught up looking for that one easy thing, method, investment, or piece of advice especially on RUclips and then get down on themselves or give up all together when it doesn't pan out. As you said, you have to shift out of that instant gratification mindset we are currently in and think long term. These videos are amazing! Keep the videos coming Vincent. 👍🙏
Couldn’t agree more I’m in no quick bag is definitely have room to improve on my wants but I think overall I have a set plan to techo g my own financial goals
My goal is to have enough streams of income to leave my 9-5 and spend more time with my family, and set them up in the event that I die. Those income streams will still provide.
Life insurance might be worth considering if you fear leaving nothing should you die. Hopefully you won't need it for a good few years,but for a few ( insert your currency here) it can be considered " wasted money" until the worse happens and your next of kin benefit from your financial thoughts.
Here are my 10 extra tips to INCREASE your daily manifestations that I’ve learned over the years..👇🏾 1. Practice gratitude every morning. When you wake up, list everything that you are grateful for and feel that gratitude in your core. Feel free to write things down in a journal so it is easy for you to remember. 2. Replace your negative thoughts with positive ones. Every time you feel a negative thought coming on, make a positive spin on it right away. 3. Take ownership for things that happen in your life. It's easy to blame others however you will feel much better when you realize that most issues stem from us. 4. ALWAYS believe that good things are about to happen. By being open to new possibilities you are inviting abundance into your life. 5. Remember that like attracts like so you get back whatever you put out, whether it is good or bad. So do good AND received good. 6. Meditate for five minutes a day. During this time focus on how you want your life to be; but place your focus on how you feel AND feel that feeling as if you have already accomplished those goals. 7. Step outside of your comfort zone. Stop playing it safe and make that decision to finally go for your dreams. 8. Focus on activities that make you feel truly happy. When you are truly happy you have the best vibrational frequency to manifest your desires. 9. Avoid the naysayers and surround yourself with people who only lift you higher. Downers will be downers, don't let them drag you into their misery. 10. Don't be afraid to dream and know that you are always supported by the universe. Hope this helps! - Your Friendly Neighborhood Coach ❤️
I've watched a couple of your videos, and you are great at speaking to the viewer in a way that does not use too much technical mumbo jumbo jargon, but is not condescending either. Like you're just having a conversation with a friend. What a great channel for everyday people!
Phenomenal presentation…you’ve mastered editing and story telling and know how to link your viewers to the next video. I got here because I was watching another video then you go and suggest another video. Hey V it’s after 1 AM and I have work in the morning so I will have to catch up on all your great videos later on. Until then, thank you for sharing and I subscribed and gave this video a thumbs up!
I want to work until 70 because idling around would bore me to death. I still love videos like this because I want to save money for my future health conditions when I grow old.
@@VincentChan I'm a lawyer working for the judiciary branch so the pay is really good. My work is also my advocacy so I find it very fulfilling. I grew up in a farm with adults what have what you call 'financial freedom.' Because the climate is good, the adults would go visit the fields every morning then the work is done. Except during the planting and harvesting times, the days are very idle. We also have farm helpers so we're not doing the physical work. I don't want to live an idle life like that. But then again, different strokes for different folks. My brother who's 28 wants to retire now and he could by simply inheriting the farm.
That’s really fortunate to have the choice. And respect for choosing work. I just wanted to add, that people who retire early can go travelling around the world or go into expensive hobbies as much as they want. It doesn’t have to be sitting at home doing nothing. My mom would always tell my little brother, “Boring people get bored.” 😉
Start imperfectly rather than think about how to start perfectly…🤯. Facts! I wasted so many years doing the later and tricking myself into calling it planning when really it was just fear and doubt.
I think if you take only one thing from this video, than it should be to CONCIOUSLY manage your income/spending. The moment you actively and (this is key) _regularly_ look at your finances, you have taken the biggest step.
I used to feel the same. But now I save and invest the maximum I can and treat myself once in a while with unnecessary things and live a little. I found a balance and I’m sure you can too!
50% invest - 25% save 20% pay credit card 5% for me I live with my parents to save on rent as much as possible, do not own a car, and payed off my phone.
Already in my mid 20s and the pandemic made me realize how much how we are enslave with money as much as I want to leave my job but I have to be prepared for it too. I have a lot to reconsider if I want to be financially free. It will take some planning and some research but I can see it being doable. I dont want to become like my father who gets to enjoy at his 60s. If I want to retire early, then I have to be serious with my finances
Notice: Social security running out of money doesn't mean the benefit of Social Security will stop entirely. Social Security always has been a system wherein people paying the tax today pay for people withdrawing from social security today. When they say Social security is "running out" they're referring to a pool of money an old president decided to put to the side, and said this is a bonus to social security. I forget where the money came from and which president, but it's this pool of money that was designed to run out, that is running out. IIRC when it runs out, your social security benefits will decrease by somewhere in the ball park of 20-30%. Which is quite a lot. but that's also assuming they do nothing to substitute this lost money.
I’ve found that the most effective way for me to increase my net worth is to try to set a hard line for my monthly investment goals, then work from there. It works for me because I’m not very inclined to spend in excess and by developing frugal habits, I can carry those habits into retirement.
I honestly love having a budget. I find it not only fun to track but also see where I am overspending and save more money. I feel like in order to truly save money, you need to define a true goal for the money you are saving, that way you can stay focused and better track your progress. Great work Vincent and keep it up!
Recommended vid for me and decided to get learning before its too late! Im starting with a fortunate 30% needs bracket, since I want this to work, Im going with a 30/35/35, still enjoy myself as I do but help myself by being smarter. I will eventually increase that invest bracket and reduce the wants bracket as i go. Great video man, subbed!
Great Vid Vincent✨. I appreciate your content because you actually make personal finance look easy and I mean it as a good thing because like you said some “gurus” make it look difficult because they want to scam and look smart. The thing that may be challenging is saving and investing at first because on the short term might look difficult but as it compound, I believe we can agree that is for the better. Is just finding the way that work for each one of us that of course is going to be different.
The easiest way for me to manage my money is to see saving as a game. Once finding Bargains and saving money becomes fun it is self-reinforcing! And even better is if you can make the game so fun that your friends start joining in!
🤔 someone can help me figure this. I work at amazon and make 15.5 with 40 hours. I do 10% 401k and get around 390 a check after taxes. (Anyone know is coding is a good career or any out their with some pointers of how to start?)
Love this and love any way to systematically approach finances while keeping things simple. It’s one of the few areas of our life that we can model mathematically and predict how things will turn out in the long run. If we just commit to a certain strategy and stay with it, success is practically guaranteed!
YES that's exactly why i love finances and also things like fitness and other areas of life.. there is a science.. if you follow the formula it doesn't matter age, race, religion, background, orientation, family history, etc.. you will get the result. Let's keep building that dream!! Here's to a great year
💵 Increase your cashflow in 5 minutes every week, for free → vincentchan.co/cashflow 📈 Prepare for the investing day in just 1 minute, for free → dailymarketbriefs.com/ 🎬 Grow Your Educational RUclips Channel & Build an Income-Generating Machine → vincentchan.co/cba-training/
I would argue going to the gym is a want because you don’t NEED to work out in a gym, you can work out wherever and personally I see it as a waste of money. Great video though :)
@Piga yeah but planet fitness is literally $10 a month so $2.50 a week to have the luxury of a gym with good equipment, and available in snow rain cold ect...
I guess that just comes down to personal discretion. You could say the same thing with food "yeah I just eat noodle cups. Meat, fruits, and vegetables are not necessary because I can survive on noodles." Or you could rent out at a backpackers for like $50 a week but you don't feel safe there so instead you choose to rent out a share home with some mates for $150 each. Both of these are things you could "technically" label as wants, but in reality they're needs. If someone isn't going to be able to get a good quality workout at home for whatever reason (motivation, equipment, safety, so on) than going to the gym, or the pool, or whatever is a need. The want is when they choose to get a PT, or buy an expensive Gi, or use a GoPro to film their bike rides.
@@jacobday3826 I agree with you to a degree within all of your paragraphs except for the last one because the truth is, a gym is a want. Somebody built that business (gym) to make money, we don't NEED gyms. All sports can be played outside. You have inside/outside to workout no matter where you live and your own body weight. I mean there are poor people in the world right.
So I have curology, which is acne / face wash that’s $60 every 2 months, is that considered a need or want? I have bad acne and since I used it it’s actually helped a lot! I would count this as a need. Thoughts?
I think it’s a need, it is beneficial for your your skin, your health and your general wellbeing. So you are better in your skin, in your health in general and ready to conquer the world!
I personally follow the 70.20.10 rule. 10% to donation and investments, 20% to debt and savings. If I can’t hit those numbers, I adjust to 10/5 respectfully.
Can we get a “guideline automation” in-depth video? I feel like most of the video was about the outdated 50/30/20 rule. I would have preferred to see more of what works vs what only kinda works.
I really tried to do my best with online jobs u suggested in you last videos, but, i realised that does not if i go and take real job or online job, the facts stays the same, i am a piece of sh*t that is not capable of doing anything.😞
The call to action to click your end screen was too good. I see why this channel is succeeding! Well, plus the content is just amazing. Great video and channel Vincent, you've got a new subscriber!
Thought the same thing! How one video already makes me want to watch another, and then he takes the lead to direct me to the next one with a seamless transition. Well done!
Great info as always 👍 We are using this and a few other steps and teaching our 11 year old daughter as part of our documentary. We are now at 49% going to financial goals, index funds, short term rentals, and max funded indexed Universal Life policies. All going to a trust fund.
I'm a HR Psych masters student. My phone's not the fastest, could get away with calling, streaming and classes. I want a device for school, can't afford enough for a good laptop, so thinking of getting an iPad 9/tablet or should I try to go with just my phone for as long as possible?
1. that flame was no where near your hand, A+ for acting on that bit. 2. I'd like my $3.50 thank you. 3. In Australia we have the Barefoot Investor with his 'serviette strategy' (so easy it fits on a serviette) which has been around for ages and is basically the buckets. 4. The table said you have nothing to ask forgiveness for. 5. It's surprising how many people don't understand Personal Finance is highly personal, even though it has it in the name. Nice call out. 6. FIRE all the way, retiring asap even if I have to geoarbitrage. 7. Same. I found after implementing the finance breakdown and slowly going through and slowly reviewing everything like insurances/loans/bills, it now mostly looks after itself so no longer splitting funds like buckets, it's a good way to learn to budget and track funds when beginning the Financial Independence journey as well as reviewing your own values and not what society says you should do. 8. Boots with the fur.
How long do you take to decide how much to deposit in your spending account using guideline automation? I have relatively fixed spending per month but sometimes I have a purchase come up like a new laptop etc. how do you determine to provide funds for those types of expenses?
Do a car/electricity count as a want? We can live without driving but some of us would be walking 6 hours per day. And we could live without lights or refrigeration, it would just suck
🙏 The way how I manage my savings is paying all my needs first, and whatever that’s left over gets transfer into my savings, and my wants are 10% only. There is really no perfect percentage in splitting ??-??-??. Growing up from a Christian House-Hold, a rule of thumb for me that always works is 10% of savings at a minimum such as tithing.
First thing after my weekly paycheck is to fully seperate needful expenses. With the balance I decide how much to move to a long term savings account and an emergency fund and what is left is purely for spending. I tend to put aside more for savings when I know that more money left in my spending account will eventually get spent just because it’s there. You aren’t as careful on your spending when you have more there just you would to drive less aggressively when your fuel light is on.
This is how you're financially secure in the USA, hope the FED keeps supplementing the stock market and forcing people into high valued assets with TINA. Otherwise the market is trash, simple.
It's worse when your financial problem isn't that you can't save or see from another perspective. It's that someone else controls your finances and you cannot escape it, keeping u trapped in a prison of someone else's design. That or go homeless and lose your job..
Me, personally, being a teenager. Saving more money than I'm spending is a great idea for me. Got a 20 and a 1 right now might as well save 15, spend 5, and spend the one off. ✔ If I stay on the right track then who knows how much money I'll have in the future! -Guys, imma go under the table and make 10 more dollars.. Wish me more ;) -Woah dudes! I made a dollar.. In an hour. Just goes to show how much trying can pay off, just go out there and ask people what work they might have for you, and they most likely will end up giving you just the money and not the work.. And when they do have work, you end up getting more money 💰 So... ( + $1 )
Love the Mr Magic Lamp! Great Mascot. Thank you sharing your knowledge, I feel empowered to take better control of my life and finances and it doesn't need to be so complicated.
I have only 2 buckets. Survival purchase bucket and financial goal bucket. With my job filling me 14 hours a day, I barely have time to spend nor to go anywhere. Weekends are my learning days, Japanese classes and more studies on work so I can do better. My saving rate are at 80% of income. Seriously, when a life is so occupied, I not that inclined to spend money, It dosent lift the stress of work.
How can I make this work I make roughly around 1200 a check I get paid by weekly I'm supporting myself my gf and my 3 month old I pay 1550 a month for rent including 100 phone bill 200 car bill not to mention daily expenses such as gas and food .
Icl I was very surprised to see you only have 281k followers, was expecting Atleast a few mil for the quality and content of ur vids. But fuck these broke Bois then I guess loool, keep it up broskiiii 💪💪💪
Let's say i get paid every month $700.00, here in my country we divide that into fortnights, what financial plan can i apply? because i make to little money to divided 3 ways. hoping for some help guys, just started a new job.
Without realization, I was doing about 40 40 20. I say this as almost half of my paycheck goes to bills. I never classified food as needs, unfortunately, because I love eating and trying new foods it’s a hobby-more than half of my “spending” money goes to food. Lastly, 20% of my check goes into my 401k. I have been very fortunate to move up in a great company, by working hard, and living with family rent free. I really wish I was saving more in liquidity, as you know 401k isn’t readily available. I think I can shift to 40 30 30 and be fine or even through time 40 20 40.
Starbucks & skincare is a need for me. 😳 covid had proven it…I was so broke from taking a year off but still gota meet my “need.” Retirement scare me cuz I have a spending problem 😩
A lot of people cannot do a thing about it. Their income is about $800.00 a month, have to get a second job to cover a semi amt of the rest of their bills, and do not even have a penny to save. Others make 2,000- 3,000 a month, of course they can save.
Will start applying this rule once I start into work life (currently in uni); I think I'll be really good at living more frugally and saving once I'm in my own space, even though rent will definitely be more than 50%. It really helps to profoundly ask yourself "Do I really need this?" ahead of purchases, but I think down the line it will become quite a struggle for me not to burn a lot of my savings on travel because I'm torn between wanting to save and have a decent safety cushion and knowing I'll probably never get to retire anyway and/or climate change will see to life changing very drastically 45 years down the line when it'd theoretically be time for me. But at least I'm exiting the mindset of compulsively needing to buy material things, which is already worth something.
What if your weekly rent is 90% of your income and your left with 10% with a family to take care of. Your video easy to understand and yet still is a dream. Welcome to NZ
It's very obvious these "influencers" center their videos around their sponsors. They are clearly salespeople who use their audience to pitch their shit to, regardless if their audience has a need for it.
Funny thing about this is my mom been telling me for the last 2 years only eat fast food once a week not everyday 😭 I seriously need help on how to save money . I practice burn it as fast as I can as soon as I get it .
Retired, receiving about 87k in dividends. I have been in the market about 30 years. Am I worried? Of course. Am I selling? Absolutely not. I have purchased stock a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding a little at a time. I am not going to panic. my investment strategy actually calm me down. It is difficult not to make emotional decisions in times like these. Eye on the prize, stay the course!
Nice one, i am so tired of working a 9 to 5, not that i dont fit my bills, i just dont know how long this would last. so much work. what strategy and pattern did you apply in order to start making consistent profit from your investment?
My coach is Lisa Jill Grenell. look her up
@@hermandavid2171 Lmao this scam account actually copied OPs name to start their scam conversation
@@methodmadge9535 yeah, there is a lot of these retarded scam threads on mostly finance youtube videos
At first I thought this would be one of those scam comments about Mr or Mrs whoever that helped you learn to invest lol. Pleasantly surprised though. God bless you man.
50/30/20? I'm basically living in an 80/15/5 setup. Bills are steep here
oh man, do you live in a very high cost of living city
@@VincentChan You can not find even a studio apartment for under $1500 here.
@@RedLeader327 do you live in Toronto? Cuz that’s what post-COVID rent is looking like right now here in Toronto.
Great video! But would love to have CC/subtitles too
I saw Tai Lopez in the beginning part of the video..he is actually very sharp and I have sent the 67 steps to a lot of kids I mentor and its a great program. Its never 1 thing with money its a combination of things you do. I went from making $2K/month to making $20K-$50K/month and none of it had to do with saving or managing my money. I had an income problem in the past. I do own commercial buildings now but back then it was about increasing income first
Disregarding any debt because that's situational.. My rule is a question, How Old Are You?? That's how much money you should have saved up(5 digits) more or less. Obviously highschool and college ages are situational too. But if you're at least 30+ years old than this rule should apply to you the most.
Ex: 35 years old = 35k in savings
57 years old = 57k in savings
Hopefully its a lot more as you age but its the general concept that matters...
8:51 "What's the point if you save $200 a day?"
I wish I could save that amount of money lmao
I subbed so fast when I saw those action figures. I do the exact same thing too😂
My financial goal is $ 100,000 every month.
"Personal finance is personal" - Might be the best quote I've heard all year.
Have an amazing day!
thanks nick!
Lk
the easiest rule to manage your money:
watch Vincent at least once a week
hahhaha love it joshua!!
I just turned 20 this year and currently at my second year of Psychology. Knowing that in a little while I'll have to go independent scares me. Thanks for laying all this out.
I’m in a similar boat, 19, just starting my 2nd year and worked enough through the previous year to move out but holding off cause it’s terrifying.
I'm doing 20/5/75 currently. Took me a while to get there though, learning to pay myself first was key. When you realize that money can buy you freedom, it's a lot easier to eliminate your other desires.
exactly! I'm so glad you found a ratio that works for you :)
What does it mean to pay yourself first v
That’s amazing. In no time you’ll reach FI. My goal was to become 0/10/90, where investment income can pay for all the >needs< and wage income goes towards >wants< and >investments
Omgg, those proportions blow my mind! Do you have a really high income whereby 5% on personal spending/wants is still a lot? Would you mind sharing numerically how much your personal spending/wants category is? Mine is $200 and I struggle with this so much! Thanks!
@@leahmcdermott4189 Yeah no problem! I actually have quite a few fortunate things going for me. I make ~80k a year as an engineer, in a very low cost of living city (Toledo, OH). I also own my home outright, so my housing now is just utilities and property taxes. I'm also way too frugal for my own good, I don't really do vacations (I'm saving for the best unlimited vacation) and I still drive the 08 Civic I bought new. Actually for me the wants category is just eating out, I couldn't do without good food lol
I considered ways to get my savings to work for me and make me more profit, although it’s with the help of a financial expert, I’m steady making good ROI.
Of course, there is. Having experienced hands guiding you is also a part of the rule that most newbies overlook and end up losing money. Got expert hands to oversee my trades now I've gone on to earn 3x more than I was doing before.
@Reyansh Bhatt like I stated, I've been putting aside money in the market with the assistance of an executive-trade analyst, Levi Clemans, who is under a licensed broker. He has been the backbone of my trades.. Here,
@Reyansh Bhatt Leviclemans(a)Gmai
Lcom...Is he taking commissions for trades? Yes, I’m I still making money in the process? Hell yes!
I’m also trying to earn, doesn’t matter if I have to pay a token, as long as he can help me trade and I can make income from it while I’m fully focused on building a career for myself I’m ok. Left a message thanks
It’s safe to say that Levi Clemans is indeed legitimate after a succession of payouts. I have no doubts investing more, he even turned down my gift token and asked me to give it to charity saying, “God has blessed with everything I need, be His servant and help the less fortunate” .
Its actually really weird how you dont get more views, this content is incredible!
aww thanks os much stellar, that means a lot
Successful people don't become victorious overnight. What most people see as a glance wealth, a great career purpose is the results of hard work and hustle over time. I pray that anyone reading this will be successful in life..
*5 things to quit right now:*
*1. Overthinking*
*2. Trying to make everyone happy*
*3. Living in the past*
*4. Worrying*
*5. Doubting yourself*
I know it may seem silly or obvious, but when you highlighted that personal finance is PERSONAL, that resonated. I think many people get caught up looking for that one easy thing, method, investment, or piece of advice especially on RUclips and then get down on themselves or give up all together when it doesn't pan out.
As you said, you have to shift out of that instant gratification mindset we are currently in and think long term.
These videos are amazing! Keep the videos coming Vincent. 👍🙏
Am really surprised you guys are familiar with Mr Jefferson Clark One hell of a coincidence. I made huge pro;fits last month investing with him...
I had a bad experience investing on my own until I met Jefferson. I got to change a couple of things and my kid now goes to a great school
Really don't know why my comment got so many spam replies? Super annoying.
thanks so much taylor! It's super helpful to keep reminding ourselves that personal finance is personal every so often :)
Couldn’t agree more I’m in no quick bag is definitely have room to improve on my wants but I think overall I have a set plan to techo g my own financial goals
My goal is to have enough streams of income to leave my 9-5 and spend more time with my family, and set them up in the event that I die. Those income streams will still provide.
you got this!! i believe you in john
Excellent goal 👍🏻!!
Life insurance might be worth considering if you fear leaving nothing should you die.
Hopefully you won't need it for a good few years,but for a few ( insert your currency here) it can be considered " wasted money" until the worse happens and your next of kin benefit from your financial thoughts.
*You can't always wait for the perfect time. Sometimes you have to dare to do it because life is too short to wonder what could have been...*
Very well said, I agree with you 👍🏻!!
☺️
Here are my 10 extra tips to INCREASE your daily manifestations that I’ve learned over the years..👇🏾
1. Practice gratitude every morning. When you wake up, list everything that you are grateful for and feel that gratitude in your core. Feel free to write things down in a journal so it is easy for you to remember.
2. Replace your negative thoughts with positive ones. Every time you feel a negative thought coming on, make a positive spin on it right away.
3. Take ownership for things that happen in your life. It's easy to blame others however you will feel much better when you realize that most issues stem from us.
4. ALWAYS believe that good things are about to happen. By being open to new possibilities you are inviting abundance into your life.
5. Remember that like attracts like so you get back whatever you put out, whether it is good or bad. So do good AND received good.
6. Meditate for five minutes a day. During this time focus on how you want your life to be; but place your focus on how you feel AND feel that feeling as if you have already accomplished those goals.
7. Step outside of your comfort zone. Stop playing it safe and make that decision to finally go for your dreams.
8. Focus on activities that make you feel truly happy. When you are truly happy you have the best vibrational frequency to manifest your desires.
9. Avoid the naysayers and surround yourself with people who only lift you higher. Downers will be downers, don't let them drag you into their misery.
10. Don't be afraid to dream and know that you are always supported by the universe.
Hope this helps!
- Your Friendly Neighborhood Coach ❤️
Wow beautifully said
I've watched a couple of your videos, and you are great at speaking to the viewer in a way that does not use too much technical mumbo jumbo jargon, but is not condescending either. Like you're just having a conversation with a friend. What a great channel for everyday people!
Phenomenal presentation…you’ve mastered editing and story telling and know how to link your viewers to the next video. I got here because I was watching another video then you go and suggest another video. Hey V it’s after 1 AM and I have work in the morning so I will have to catch up on all your great videos later on. Until then, thank you for sharing and I subscribed and gave this video a thumbs up!
I want to work until 70 because idling around would bore me to death. I still love videos like this because I want to save money for my future health conditions when I grow old.
woah very impressive! what work for you do right now?
@@VincentChan I'm a lawyer working for the judiciary branch so the pay is really good. My work is also my advocacy so I find it very fulfilling.
I grew up in a farm with adults what have what you call 'financial freedom.' Because the climate is good, the adults would go visit the fields every morning then the work is done. Except during the planting and harvesting times, the days are very idle. We also have farm helpers so we're not doing the physical work. I don't want to live an idle life like that. But then again, different strokes for different folks. My brother who's 28 wants to retire now and he could by simply inheriting the farm.
That’s really fortunate to have the choice. And respect for choosing work. I just wanted to add, that people who retire early can go travelling around the world or go into expensive hobbies as much as they want. It doesn’t have to be sitting at home doing nothing.
My mom would always tell my little brother, “Boring people get bored.” 😉
Start imperfectly rather than think about how to start perfectly…🤯. Facts! I wasted so many years doing the later and tricking myself into calling it planning when really it was just fear and doubt.
yes!!! analysis paralysis too
Technically you're bound to fail without a plan!! Keep up the good work
I think if you take only one thing from this video, than it should be to CONCIOUSLY manage your income/spending. The moment you actively and (this is key) _regularly_ look at your finances, you have taken the biggest step.
I feel guilty Everytime I spend money on unnecessary things
Same I need to loosen up a little 😪
I used to feel the same. But now I save and invest the maximum I can and treat myself once in a while with unnecessary things and live a little. I found a balance and I’m sure you can too!
50% invest -
25% save
20% pay credit card
5% for me
I live with my parents to save on rent as much as possible, do not own a car, and payed off my phone.
that's a great strategy :)
I hate you, respectfully
Already in my mid 20s and the pandemic made me realize how much how we are enslave with money as much as I want to leave my job but I have to be prepared for it too. I have a lot to reconsider if I want to be financially free. It will take some planning and some research but I can see it being doable. I dont want to become like my father who gets to enjoy at his 60s. If I want to retire early, then I have to be serious with my finances
me ^^^
Notice: Social security running out of money doesn't mean the benefit of Social Security will stop entirely. Social Security always has been a system wherein people paying the tax today pay for people withdrawing from social security today. When they say Social security is "running out" they're referring to a pool of money an old president decided to put to the side, and said this is a bonus to social security. I forget where the money came from and which president, but it's this pool of money that was designed to run out, that is running out. IIRC when it runs out, your social security benefits will decrease by somewhere in the ball park of 20-30%. Which is quite a lot. but that's also assuming they do nothing to substitute this lost money.
In the US I guess? Some of us are watching from Europe though.
I wonder if it was Frank Roosevelt
I’ve found that the most effective way for me to increase my net worth is to try to set a hard line for my monthly investment goals, then work from there. It works for me because I’m not very inclined to spend in excess and by developing frugal habits, I can carry those habits into retirement.
Good job 👍🏻!!
I like how he's always talking about Cheese Burger
hahahahha
I honestly love having a budget. I find it not only fun to track but also see where I am overspending and save more money. I feel like in order to truly save money, you need to define a true goal for the money you are saving, that way you can stay focused and better track your progress. Great work Vincent and keep it up!
agree!
thanks so much jacob!! you make some great points :)
@@VincentChan thanks Vincent!
Recommended vid for me and decided to get learning before its too late! Im starting with a fortunate 30% needs bracket, since I want this to work, Im going with a 30/35/35, still enjoy myself as I do but help myself by being smarter. I will eventually increase that invest bracket and reduce the wants bracket as i go. Great video man, subbed!
Great Vid Vincent✨. I appreciate your content because you actually make personal finance look easy and I mean it as a good thing because like you said some “gurus” make it look difficult because they want to scam and look smart. The thing that may be challenging is saving and investing at first because on the short term might look difficult but as it compound, I believe we can agree that is for the better. Is just finding the way that work for each one of us that of course is going to be different.
You Make it too complicated , just follow the Ramsey baby steps
Love your videos, Vincent! Thank you for taking time to share your knowledge. It helps with my money anxiety.
thank you so much parker, appreciate your comment
The easiest way for me to manage my money is to see saving as a game. Once finding Bargains and saving money becomes fun it is self-reinforcing! And even better is if you can make the game so fun that your friends start joining in!
thta's really smart, thanks for sharing charlotte
🤔 someone can help me figure this. I work at amazon and make 15.5 with 40 hours. I do 10% 401k and get around 390 a check after taxes. (Anyone know is coding is a good career or any out their with some pointers of how to start?)
Or the Bahamas... U miss the Bahamas prices be to the moon ... But I'm on my way to FIRE
I think what we could rename the buckets to:
1) fixed expenses
2) variable expenses
3) financial goals
Well, I am asian, so I do the 20/0/80 rule. Cause my 'want' is financial freedom. I derive happiness from that.
That burning money irks me!
ahhhh it was faaaake
Love this and love any way to systematically approach finances while keeping things simple. It’s one of the few areas of our life that we can model mathematically and predict how things will turn out in the long run. If we just commit to a certain strategy and stay with it, success is practically guaranteed!
thanks for sharing that joey! appreciate you
YES that's exactly why i love finances and also things like fitness and other areas of life.. there is a science.. if you follow the formula it doesn't matter age, race, religion, background, orientation, family history, etc.. you will get the result. Let's keep building that dream!! Here's to a great year
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I would argue going to the gym is a want because you don’t NEED to work out in a gym, you can work out wherever and personally I see it as a waste of money.
Great video though :)
@Piga yeah but planet fitness is literally $10 a month so $2.50 a week to have the luxury of a gym with good equipment, and available in snow rain cold ect...
I guess that just comes down to personal discretion. You could say the same thing with food "yeah I just eat noodle cups. Meat, fruits, and vegetables are not necessary because I can survive on noodles."
Or you could rent out at a backpackers for like $50 a week but you don't feel safe there so instead you choose to rent out a share home with some mates for $150 each.
Both of these are things you could "technically" label as wants, but in reality they're needs. If someone isn't going to be able to get a good quality workout at home for whatever reason (motivation, equipment, safety, so on) than going to the gym, or the pool, or whatever is a need. The want is when they choose to get a PT, or buy an expensive Gi, or use a GoPro to film their bike rides.
@@jacobday3826 I agree with you to a degree within all of your paragraphs except for the last one because the truth is, a gym is a want. Somebody built that business (gym) to make money, we don't NEED gyms. All sports can be played outside. You have inside/outside to workout no matter where you live and your own body weight. I mean there are poor people in the world right.
So I have curology, which is acne / face wash that’s $60 every 2 months, is that considered a need or want? I have bad acne and since I used it it’s actually helped a lot! I would count this as a need. Thoughts?
I think it’s a need, it is beneficial for your your skin, your health and your general wellbeing. So you are better in your skin, in your health in general and ready to conquer the world!
Thank you for the money management tips , this will help me a lot ! I’m mostly investing my income back in to my video Production business!
easiest rule to manage your money, burn it
LOL
I personally follow the 70.20.10 rule. 10% to donation and investments, 20% to debt and savings. If I can’t hit those numbers, I adjust to 10/5 respectfully.
Did you mean to write respectively? Good going by the way.
The best time to plant a tree was 40 years ago. The second best time is right now.
YES
Wait what? This why I'm bad at money. I've gotta leave no to find out about this jack and jill thing.
Ok I'm back. Jack and jill is actually about beat and taxes. Not beheadings.
Can we get a “guideline automation” in-depth video? I feel like most of the video was about the outdated 50/30/20 rule. I would have preferred to see more of what works vs what only kinda works.
great suggestion! maybe in the future :)
I really tried to do my best with online jobs u suggested in you last videos, but, i realised that does not if i go and take real job or online job, the facts stays the same, i am a piece of sh*t that is not capable of doing anything.😞
nooo dont think that way eles! you have to keep pushing through, i believe in you!
is it wierd that i would rather use money on trips and stuff in my 20's-30's and then do actual work when im 40-70
It's your life.
These videos keep getting better and better 💕 Educational and entertaining 💯 Thanks Vincent 💕
aww thanks so much ness
@@VincentChan You're welcome 💕
A dollar adds up everybody. Everything you put in savings counts.
The call to action to click your end screen was too good. I see why this channel is succeeding! Well, plus the content is just amazing. Great video and channel Vincent, you've got a new subscriber!
welcome to the family johnny :)
Thought the same thing! How one video already makes me want to watch another, and then he takes the lead to direct me to the next one with a seamless transition. Well done!
Since this January, I started investing by putting away $50,000 on a $70,000 freelance income while living in New York City
Great info as always 👍 We are using this and a few other steps and teaching our 11 year old daughter as part of our documentary. We are now at 49% going to financial goals, index funds, short term rentals, and max funded indexed Universal Life policies. All going to a trust fund.
I'm a HR Psych masters student. My phone's not the fastest, could get away with calling, streaming and classes. I want a device for school, can't afford enough for a good laptop, so thinking of getting an iPad 9/tablet or should I try to go with just my phone for as long as possible?
Buy a 2nd hand laptop then.
9:23 he outed himself, my man uses light theme youtube. love the vid tho
I thought the same xD Dark theme ftw
hahahha my computer changes to light theme in the day time and dark theme in the night time :P
1. that flame was no where near your hand, A+ for acting on that bit.
2. I'd like my $3.50 thank you.
3. In Australia we have the Barefoot Investor with his 'serviette strategy' (so easy it fits on a serviette) which has been around for ages and is basically the buckets.
4. The table said you have nothing to ask forgiveness for.
5. It's surprising how many people don't understand Personal Finance is highly personal, even though it has it in the name. Nice call out.
6. FIRE all the way, retiring asap even if I have to geoarbitrage.
7. Same. I found after implementing the finance breakdown and slowly going through and slowly reviewing everything like insurances/loans/bills, it now mostly looks after itself so no longer splitting funds like buckets, it's a good way to learn to budget and track funds when beginning the Financial Independence journey as well as reviewing your own values and not what society says you should do.
8. Boots with the fur.
🤗 Let's be best friends on Instagram: instagram.com/hivincentc for exclusive content! Also, beware of scammers, this is my ONLY IG account.
@@rachellerivers6778 nope, that’s a scam account please be safe
What’s the app? I don’t use ig. Cmon don’t hold out on me bruh. I just subbed and liked the video 👍
It is good.
@@rachellerivers6778 yes! All others are scam imposters
How long do you take to decide how much to deposit in your spending account using guideline automation? I have relatively fixed spending per month but sometimes I have a purchase come up like a new laptop etc. how do you determine to provide funds for those types of expenses?
Do a car/electricity count as a want? We can live without driving but some of us would be walking 6 hours per day. And we could live without lights or refrigeration, it would just suck
🙏 The way how I manage my savings is paying all my needs first, and whatever that’s left over gets transfer into my savings, and my wants are 10% only. There is really no perfect percentage in splitting ??-??-??. Growing up from a Christian House-Hold, a rule of thumb for me that always works is 10% of savings at a minimum such as tithing.
First thing after my weekly paycheck is to fully seperate needful expenses. With the balance I decide how much to move to a long term savings account and an emergency fund and what is left is purely for spending. I tend to put aside more for savings when I know that more money left in my spending account will eventually get spent just because it’s there. You aren’t as careful on your spending when you have more there just you would to drive less aggressively when your fuel light is on.
I get overwhelmed and don't even track anything...luckily I don't have a life and spend practically nothing
This is how you're financially secure in the USA, hope the FED keeps supplementing the stock market and forcing people into high valued assets with TINA. Otherwise the market is trash, simple.
It's worse when your financial problem isn't that you can't save or see from another perspective. It's that someone else controls your finances and you cannot escape it, keeping u trapped in a prison of someone else's design. That or go homeless and lose your job..
00:30 😆 ok, I’ll suscribe.
Me, personally, being a teenager. Saving more money than I'm spending is a great idea for me.
Got a 20 and a 1 right now might as well save 15, spend 5, and spend the one off. ✔
If I stay on the right track then who knows how much money I'll have in the future!
-Guys, imma go under the table and make 10 more dollars.. Wish me more ;)
-Woah dudes! I made a dollar.. In an hour.
Just goes to show how much trying can pay off, just go out there and ask people what work they might have for you, and they most likely will end up giving you just the money and not the work.. And when they do have work, you end up getting more money 💰
So...
( + $1 )
Love the Mr Magic Lamp! Great Mascot. Thank you sharing your knowledge, I feel empowered to take better control of my life and finances and it doesn't need to be so complicated.
I have only 2 buckets. Survival purchase bucket and financial goal bucket.
With my job filling me 14 hours a day, I barely have time to spend nor to go anywhere.
Weekends are my learning days, Japanese classes and more studies on work so I can do better.
My saving rate are at 80% of income. Seriously, when a life is so occupied, I not that inclined to spend money, It dosent lift the stress of work.
How can I make this work I make roughly around 1200 a check I get paid by weekly I'm supporting myself my gf and my 3 month old I pay 1550 a month for rent including 100 phone bill 200 car bill not to mention daily expenses such as gas and food .
Icl I was very surprised to see you only have 281k followers, was expecting Atleast a few mil for the quality and content of ur vids. But fuck these broke Bois then I guess loool, keep it up broskiiii 💪💪💪
At 2:08 you say "Fifty, thirty, twenty" in the exact same way I imagine Caesar said "Veni, vidi, vici".
Let's say i get paid every month $700.00, here in my country we divide that into fortnights, what financial plan can i apply? because i make to little money to divided 3 ways. hoping for some help guys, just started a new job.
Needs: I need this PS5 haha
Without realization, I was doing about 40 40 20.
I say this as almost half of my paycheck goes to bills. I never classified food as needs, unfortunately, because I love eating and trying new foods it’s a hobby-more than half of my “spending” money goes to food. Lastly, 20% of my check goes into my 401k. I have been very fortunate to move up in a great company, by working hard, and living with family rent free. I really wish I was saving more in liquidity, as you know 401k isn’t readily available.
I think I can shift to 40 30 30 and be fine or even through time 40 20 40.
"I'll bet you tree fiddy" lmao love this guy. Immediately subscribed for the mixture of guidance and humor.
Starbucks & skincare is a need for me. 😳 covid had proven it…I was so broke from taking a year off but still gota meet my “need.” Retirement scare me cuz I have a spending problem 😩
A lot of people cannot do a thing about it. Their income is about $800.00 a month, have to get a second job to cover a semi amt of the rest of their bills, and do not even have a penny to save. Others make 2,000- 3,000 a month, of course they can save.
Will start applying this rule once I start into work life (currently in uni); I think I'll be really good at living more frugally and saving once I'm in my own space, even though rent will definitely be more than 50%. It really helps to profoundly ask yourself "Do I really need this?" ahead of purchases, but I think down the line it will become quite a struggle for me not to burn a lot of my savings on travel because I'm torn between wanting to save and have a decent safety cushion and knowing I'll probably never get to retire anyway and/or climate change will see to life changing very drastically 45 years down the line when it'd theoretically be time for me. But at least I'm exiting the mindset of compulsively needing to buy material things, which is already worth something.
you got this ellen!! I believe in you
Did you honestly work 60-80 hours per week?? I work 35 hours per week with great benefits, and never feel stressed.
Crazy how we all still pay taxes for SS and that shhh will be non-exsistent in couple years lol........ We want our money back...
What if your weekly rent is 90% of your income and your left with 10% with a family to take care of. Your video easy to understand and yet still is a dream. Welcome to NZ
Do 401k withholdings get counted as part of take home pay and counted toward 20% financial goals bucket
Simple is easy and automated is even easier, nice one Vincent! 👌
yesssirrrr, always love seeing ur omments sam :)
Me trying to figure out why I'm so poor.. his chart. $4-10k 😒
Age 32 class of 08
It's very obvious these "influencers" center their videos around their sponsors. They are clearly salespeople who use their audience to pitch their shit to, regardless if their audience has a need for it.
Love your editing style man! Great advice and great humor!
Why do we have to dm you on Instagram for you to tell us what app you use?? That just annoys me and makes me not want to watch any of your videos. 👎👎👎
Dont try to tell ppl what to do with the money, i wont think if all ppl would do like u says evveryone would getting rich..Pls stop this trash talk..
I'm doing -100/0/0, can you figure out what that means?
Buy physical gold and silver that's better than today's Fiat, digital, crypto currency world.
Funny thing about this is my mom been telling me for the last 2 years only eat fast food once a week not everyday 😭 I seriously need help on how to save money . I practice burn it as fast as I can as soon as I get it .
Vincent, drop that link in the comments of your grey robe during that ad 😂 looks hella cozy
Thank you Vincent, great concepts and easy to apply. Appreciate your content!