I just want to remind everyone here that you that not everyone gets the same amount of support from their family growing up and that it's okay that progress may seem like it takes longer than others. Swim at your own pace and try to check back every few months and see if you're making at least some forward progress, and if not, see how you can make progress in the next two months. Don't beat yourself up, we're climbing up a steep hill in this economy.
You are 100% right. I don’t see myself being able to save up as much as I have without help from my parents who worked so hard to get us out of poverty.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.
If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
Melissa Elise Robinson, just check her out. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in 2021 April due to the crash.
I quit drinking 4 years ago and my net worth exploded since. The actual money saved on alcohol was negligible. The difference came in lifestyle, choices, focus, long term thinking, etc which all made me become a better investor, earner, and saver. Cool to see this topic brought up in the context of personal finance by such a big voice in the space. Bravo, Humphrey!
Bravo! My weakness is lawn care and lawn care products, equipment, and the time put into it. fertilizers, grass seed, mulch, herbicides, sprayers, dethatching machines, etc. It all adds up. I need help.
I probably spend upwards of $10,000 in a year on alchohol. I am a bit of a functioning alchoholic so it would actually make a huge difference if I quit.
@@ThereisalwaysbetterI hope you are drinking expensive stuff to hit that amount. I drink moderately and probably spend less than 3k a year. My choices are usually $20-40 wines, $2-5 beer/ciders, or $50-100 scotch. The most expensive bottle of scotch I’ve gotten is around 200
@@dailyrant4068 I'm more of a cheap Vodka kinda guy like an average Russian during one of their many economic depressions where the elites fed of off pure encouraged depression.
on the other side, you negotiate said appropriate raise then you're the first they lay off bc they can replace you w someone w 5 yrs less exp and 10k/yr less
Oh Honey! Humphrey uploaded! 🎉 Seriously, thanks for your financial tips and insights. They’ve helped me with my own personal finance journey immensely over the years.
I love love love this channel! Been tracking my net worth like a hawk for the past few years and it makes me so happy to see where I am now. When I watch this channel, I realize that I am doing the very things that Humphrey advocates for!
I absolutely love the spreadsheet you provide! My fiancé and I started using it and have become much more cognizant of our spending. I’m saving 75% of all of my income now!
Thanks for keeping us informed. I feel for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Ms Rachael Campbell! Imagine I invested $5,500 and received $22,200 after some days.
Mrs Rachael Campbell was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Rachael Campbell.
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
Completely agree with alcohol Sunday was only day wife and I had together alone so we use to drink. Come Monday morning we feel like crap and waste it. Not only that but missed workouts have been sober for months now and don’t regret it
I like your content but the marshmallow test was inaccurate. The correlation was socioeconomic - kids from poorer households ate the marshmallow because they never knew when they’d get the next one, while kids from wealthier households have their needs met and could wait. This plays out against higher performance at school and career trajectory. This was not truly caused by character, but living in a low income household. Typical mix up of correlation vs causation.
How do you know the socio-economic situation each child was from wasn’t also a genetic predisposition for lack of impulse control of the parents as well?
The moment you said you worked in the video game industry, I creeped your LinkedIn profile. And funnily enough, I was working at that same company just a few months ago. Crazy.
As someone who isn’t scared of asking for raises this hits home hard 😂. I literally got hired like 3 months ago at a job with a higher pay than my old one and while I wasn’t offer the full pay and as they were offering, I didn’t feel that now that I’ve been here for 3 months and I’m good at my job I’m willing to ask if there is a possibility for a raise
I started to follow you February-March 2024! The first video I watched was the one how to make 100k in one year!Since then I minimize my expenses to 5% of my income. I rented my own apartment short term to make more money and stayed with my mom. I added 2 more source of income! Babysitting and furniture restoring! So far i saved 60k, paid some tax on it and I’m determined to reach the $100k by the end of the year! I used your break down method to make money per day! I was already making over 100k per year, have a rental mix used property paid off worth of $600k but you were a true inspiration for me! Thank you
I use the Numbers app on my phone to track my expenses through out the month. Total game changer for me to track every dollar that I spend and what I am spending it on. Also another game changer is I quit drinking!!
I've always been allergic to carrying a balance on my credit cards . I had to do it in collage to make ends meet and I vowed never again. I haven't carried a balance in almost 20 years.
During uncertain times, achieving your $3 million money goal with the S&P 500 might seem challenging. Simply saving may not be sufficient. Considering a licensed advisor to help grow your funds or waiting for a favorable economy could be options worth exploring, especially with your retirement deadline approaching in just five years.
Very correct, investing is plain-sailing using a well experienced advisor, and at first-hand experience, I've witnessed my investments compound over 280%, since Jan.2020 amid rona-outbreak, summing up nearly $1m as of today.
this is huge! been a fan of asking questions like Socrates, seeking information and handling certain duties to professionals, my $ 100k index has been shortened by 10% due to inflation over the years and I could really use a help at this point
I learn a lot from "DESIREE RUTH HOFFMAN, she's a big name in her field with more than 20 years of experience. You should look her up online for more info.
very much appreciated, just inputted DESIREE RUTH HOFFMAN on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I just gave my old job the ultimatum of "Give me a promotion or I will find someone else who will." They didn't seem to care so I did just that and almost comically fast in only a month from apply to first day. I went from an hourly job to a nice pay bump of a salary job. I will do this new job until I reach the point where it is almost effortless then repeat the process. Command a promotion or find someone else who will give it to you.
Here to echo that while delayed gratification is important, the marshmellow test has very different conclusions than was presented here. Teaching kids techniques to resist the marshmellow was more helpful in delayed gratification than any sort of "natural" ability.
Regarding tracking monthly costs... it might seem to go against your next trip of avoiding credit card debt but if you want some easy way to do that and a win from it get yourself a cash back credit card and make sure you can practice the discipline to not overspend on it. Then buy everything on it. They will pay you a few hundred dollars a month as long as you keep the balance is zero month to month and you could download your transactions to populate your spreadsheet to look at what you're spending
I'm more with Ramit Sethi in terms of logging my expenses. I don't think it's productive. I've paid debt off, bought a house and saved up more than $100k without really logging any expenses. However, if you're a person that has issues controlling your spending, this method will probably help you. Great video!
Im a recovering alcoholic and i got sober in 2022. Within several months i was in the gym regularly, i got pay raises at work and ive almost doubled my income since. My net worth has exploded. When i drank every day my mind was clouded. I could go to work but my life problem solving skills where trash. The only problem i wanted to solve was how to get more alcohol asap.
Alcohol is usually paired with less than healthy snacks. Higher alcohol consumption can lead to an EXPENSIVE and possibly deadly DUI. It costs $, adds junk calories, and decreases sleep quality. Moral or not, the "investment" in alcohol does not yield returns. Sure, it's possible to have an occasional beer or two with friends and gain the intangible quality time.
Your point about bonuses rings so true. At my current job, people send around reminders to turn off 401k withholding to avoid a portion of the bonus being taken for the 401k. It strikes me as extremely short sighted…what better way to make an extra contribution to the account?
I would have probably been a No.1 kid. Today, I'm a number 2 kid, and less impulsive as I used to be. Unfortunately, I have gotten into the habit of justifying many purchases more than I need to, doing a value benefit analysis of even small things like a cup of yogurt....
Thanks for continuing updates but I'd rather trade the stock market and crypto, as it's more profitable. I make an average of 84,500K per week even though I barely trade myself.
I used to have premature spending. I would blow my wad of money on everything. Now i can last forever with my basics. Im so hard with saving and investing. im busting at the seams with extra cash.
Seeing my investments grow more within the 2 weeks of each paycheck than what i contribute feels amazing. Last paycheck I contributed around $500 to my 401k and Roth IRA total and my money grew $1,300 excluding the $500.
Hi Humphrey thanks for your advice! Just to make sure, the 6% that we contribute toward our 401k counts toward the 10-15% we should be saving. Correct? Thank you so much!
I know theyre being used mostly as like an allegory or adage, but I don't really like the use of pseudo-scientific arguments in this video. First with the sparknotes of the debunked stanford marshmallow experiment and then quoting Newton's 1st law out of a physics context. It strikes me as an attempt to artifically generate some sort of ethos by saying things that sound scientific without actually understanding the science.
I have a question about 401k! I freelanced for 10 years and never really saved money. I'm 28 now and I finally got a full time job with all the benefits. My 401k is only at $8k. What can I do to catch up and make up for lost time?
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Imo the 4% rule is only applicable to early retirement where your projected life expectancy is too far away to risk dividing your portfolio evenly into that number or years. It would be overly conservative to expect a non depleting portfolio at retirement age.
Is it an issue to overuse the credit card? Almost 100% of my spending is through a credit card. My mortgage cars and motorcycle are all paid off. The only credit I use currently is credit card and I never carried a balance ever (I’m a credit card owner for the last 25 years)
The link for the spred sheet is not linked ( with a link) at the bottom. Is it because I'm watching on my phone ....at work ....when I should be working? LoL
It is a horrible habit of employees to only look at revenue when asking for a raise. If you want a raise, go to a meeting armed with one of the following a) how you will increase revenue b) how you will decrease expenses c) how you will free up someone else who can increase revenue or decrease expenses better than you. If you don’t get a raise after implementing these strategies, change jobs as you have discovered that this workplace does not value you
i constantly ask my boss for more money. doesn't change anything. sadly in my area there really aren't any good paying jobs, its a very low income part of canada. i've considered moving to a better place but abandoning my friends and family isn't really in the cards for me.
Well, the 50k base salary did not account for salary rises nor promotions. So the final amount would be much higher, in fact. It's a nuance, 1.4M today is a decent sum
I’m convinced that investing as little as 50k-150k in the right company before it goes big is more important than buying the dip, however picking the right company lies the difficult task. My question is, what are the best opportunities to accrue profits now, amid market crash?
for me, investors should start with S&P 500/ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth
The issue is people have the "I will do it myself mentality" but not equipped for a crash, hence get burnt. Ideally, advisors are reps for investing, and at first-hand encounter, my portfolio has yielded over 300% since covid-outbreak to date, summing up nearly $1m.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Aileen Gertrude Tippy" has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
To anyone struggling to delay the gratification, I can promise you that once you just do it and then you start to see your savings/investments snowball, then you'll flip and start struggling to reward yourself occasionally 😉
@@RayeHana I was using the notes app on my phone but I just switched to the monthly budgeting template for Google sheets and I'm loving it, I can not only track my spending but I can input my expected spend and whenever I put in an actual transaction it deducts it and shows how much I have left that I planned to spend on that particular item, it's a great tool as well
I’m all for everyone saving for retirement, but the money needed for $50k was too high because, for most people, you need to subtract out the money from social security before figuring the 4% withdraw rate. Ie if you’re getting $1250 per month ($15k) in ss then you need $35k. Remember that number is before taxes are taken out.
Hey Humphrey , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
How much to have in retirement can be tough. Today you think you would need 50k a year in today's dollars in 2024, then you save for 40 years, then you have a 20 year retirement. 50k per year today won't be anywhere near what 50k is a year in retirement from approximately 2064 through 2084.
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Emily L Romano, imagine investing $12,000 and received $305,500.
Mrs Emily L Romano was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Emily L Romano.
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional
I don’t drink at all quit 5 years ago, huge waste of money and honestly drunk people are annoying, instead of drinking in moderation how about not drinking at all, I love how alcohol is a drug and yet we treat it like it can be handled but if I said “try not to do drugs too often just in moderation” everyone would have a problem with that, don’t drink or do drugs. Period
I drink in moderation, not every day, and no more than one or two at a time. I don't binge drink and get sloppy. There's nothing wrong with occasional light to moderate alcohol use. If you get drunk every time you drink, then you have a serious problem and need to quit completely. Seems like you made a wise choice for yourself.
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.
Without even watching I can say we only have so much time and money we can't take. And all because a few dictate the rules for everyone. Don't forget that and think some but make moves and live love life🖕 them
I can't be the only one here thinking that asking for a raise is kinda nonsense. If you work for a large company like me, you'll find that your boss has very little control over your salary. And that your salary is capped based on role. The only way to get a new salary range is to get a promotion or new role. If you like your current role though, that's where things get kinda problematic. Regardless of whether you ask for a raise now or not, you'll eventually be making that same amount later anyways because of scheduled raises. Until it eventually caps. So basically they control things such that you never cap out. If you were to ask for a better salary range, that's when the nervous laughter starts
I'm new to BTC/Cryto investment and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
Without a doubt!MRS Telisha Grover is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. her strategies are meticulously crafted based on thorough research and years of practical experience.
The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial.
Does anyone actually end up getting a raise above 3% when they ask? I've asked a bunch and basically got told either take what they give me or go somewhere else if I think I can do better. We also don't get bonuses
The trick is to find out what your market value is. If you’re paid below market value most companies have a way to bump up your pay quickly to fill the gap. Remember if you’re paid over market value, you’re a candidate for replacement. Some of market value is subjective and market dependent so there’s a range. A reasonable goal is to be on the higher end. A clue that you’re paid under market value is when a new hire comes in earning more than you.
Bunch of bullshit to divide profit by employee count. Much of these employees are just doing normal operations work unrelated to sales. Could easily be replaced by a consulting firm for less and not crucial to making the company money or staying alive.
Did you really start out with "as someone who worked over 8 years in corporate blah blah blah"? Dude, having worked as an employed person for 8 years is not a flex, not is it a signal of expertise. Cut the inflated "corporate" lingo. This just means that youbwere an employee for 8 years. Just like most people when they start a job when 12 years old. Not many become self employed before they have managed 8+ yrar in a job.
So much happiness and joy $47k weekly returns has been life changing. AWESOME GOD I now have a house and can now afford anything for my family even with my Retirement..
Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Taylor
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
I just want to remind everyone here that you that not everyone gets the same amount of support from their family growing up and that it's okay that progress may seem like it takes longer than others. Swim at your own pace and try to check back every few months and see if you're making at least some forward progress, and if not, see how you can make progress in the next two months. Don't beat yourself up, we're climbing up a steep hill in this economy.
Great advice!
63 yrs old here up to $700 a month in dividends to supplement $1158 in ss....so not even close...still working...so screwed lol
But democrats keep telling us this economy is doing great
@@DavidDietrich-d2bdid you try to save money when you where young or did you just live for the day back then?
You are 100% right. I don’t see myself being able to save up as much as I have without help from my parents who worked so hard to get us out of poverty.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.
If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
Melissa Elise Robinson, just check her out. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in 2021 April due to the crash.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
I quit drinking 4 years ago and my net worth exploded since. The actual money saved on alcohol was negligible. The difference came in lifestyle, choices, focus, long term thinking, etc which all made me become a better investor, earner, and saver. Cool to see this topic brought up in the context of personal finance by such a big voice in the space. Bravo, Humphrey!
Bravo! My weakness is lawn care and lawn care products, equipment, and the time put into it. fertilizers, grass seed, mulch, herbicides, sprayers, dethatching machines, etc. It all adds up. I need help.
I probably spend upwards of $10,000 in a year on alchohol. I am a bit of a functioning alchoholic so it would actually make a huge difference if I quit.
You was an alcoholic?
@@ThereisalwaysbetterI hope you are drinking expensive stuff to hit that amount. I drink moderately and probably spend less than 3k a year. My choices are usually $20-40 wines, $2-5 beer/ciders, or $50-100 scotch. The most expensive bottle of scotch I’ve gotten is around 200
@@dailyrant4068 I'm more of a cheap Vodka kinda guy like an average Russian during one of their many economic depressions where the elites fed of off pure encouraged depression.
on the other side, you negotiate said appropriate raise then you're the first they lay off bc they can replace you w someone w 5 yrs less exp and 10k/yr less
Oh Honey! Humphrey uploaded! 🎉
Seriously, thanks for your financial tips and insights. They’ve helped me with my own personal finance journey immensely over the years.
I love love love this channel! Been tracking my net worth like a hawk for the past few years and it makes me so happy to see where I am now. When I watch this channel, I realize that I am doing the very things that Humphrey advocates for!
I absolutely love the spreadsheet you provide! My fiancé and I started using it and have become much more cognizant of our spending. I’m saving 75% of all of my income now!
Thanks for keeping us informed. I feel for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Ms Rachael Campbell! Imagine I invested $5,500 and received $22,200 after some days.
I'm surprised that you just mentioned Rachael Campbell here. I met her at a conference in 2018 and we have been working together ever since.
Mrs Rachael Campbell was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Rachael Campbell.
She must be really dedicated and well trusted for people to talk much good about
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
I Started with 5,000$ and Withdrew profits
89,000$
Completely agree with alcohol
Sunday was only day wife and I had together alone so we use to drink. Come Monday morning we feel like crap and waste it. Not only that but missed workouts have been sober for months now and don’t regret it
How much do you drink to the point that Monday feels like crap? Like 4 bottles of wine between the two of you?
*Thank you😊 for this video, do you offer account management or have any recommendations?*
If you’re using a good manager, it’s easier to earn from the market
That's true. a lot of people today have been
having lots of disappointments in trading in light of helpless direction and awful consultants
I've been trying to trade but I keep making losses and it's frustrating
Could you suggest a consultant for me?
VICTORIA WALTERS HAYWARD is exceptionally good, i believe you should give her a try
I like your content but the marshmallow test was inaccurate. The correlation was socioeconomic - kids from poorer households ate the marshmallow because they never knew when they’d get the next one, while kids from wealthier households have their needs met and could wait. This plays out against higher performance at school and career trajectory. This was not truly caused by character, but living in a low income household. Typical mix up of correlation vs causation.
Thank you! I was looking for this comment.
Very very very good point and this comment should be pinned
Thanks so much for this info, I always thought the story of that research felt fishy
How do you know the socio-economic situation each child was from wasn’t also a genetic predisposition for lack of impulse control of the parents as well?
@@pete5691bingo
Awareness is the key. Thank you!
You are so welcome!
The average 401k numbers are probably pulled up by those with very high savings. The median is probably significantly lower than that.
Yes - it's so misleading to use the mean for retirement savings. The only semi-accurate way to calculate is by using the median.
I first read that as, "Seven middle class Hobbits keeping you stuck in place." I hate it when the hobbits are keeping me down.
lol 😂
Okay Gollum 😂...
My precious…
The moment you said you worked in the video game industry, I creeped your LinkedIn profile. And funnily enough, I was working at that same company just a few months ago. Crazy.
Thanks Humphrey your videos have helped me a lot!
Glad to hear it!
As someone who isn’t scared of asking for raises this hits home hard 😂. I literally got hired like 3 months ago at a job with a higher pay than my old one and while I wasn’t offer the full pay and as they were offering, I didn’t feel that now that I’ve been here for 3 months and I’m good at my job I’m willing to ask if there is a possibility for a raise
Wow. I would like your confidence. Maybe get better at sentences though.
@@M_SCThanks for the remark! While I’m not that old (mid 20s) I did get this mindset from HS and my first job.
The GOAT Humphrey is back!!!!
I started to follow you February-March 2024! The first video I watched was the one how to make 100k in one year!Since then I minimize my expenses to 5% of my income. I rented my own apartment short term to make more money and stayed with my mom. I added 2 more source of income! Babysitting and furniture restoring! So far i saved 60k, paid some tax on it and I’m determined to reach the $100k by the end of the year! I used your break down method to make money per day! I was already making over 100k per year, have a rental mix used property paid off worth of $600k but you were a true inspiration for me! Thank you
I use the Numbers app on my phone to track my expenses through out the month. Total game changer for me to track every dollar that I spend and what I am spending it on. Also another game changer is I quit drinking!!
Hi humphrey, thanks for vdo! Have a great day
Thanks, you too!
I've always been allergic to carrying a balance on my credit cards . I had to do it in collage to make ends meet and I vowed never again. I haven't carried a balance in almost 20 years.
Hump is so right so much so that he has so much content for you to become a millionaire at your 65yrs. While he's going for his 4mill keep watching
Love your videos! Very educational. Thanks!
Glad you like them!
During uncertain times, achieving your $3 million money goal with the S&P 500 might seem challenging. Simply saving may not be sufficient. Considering a licensed advisor to help grow your funds or waiting for a favorable economy could be options worth exploring, especially with your retirement deadline approaching in just five years.
patience is key in this situation. Advisors can really come in handy, especially when it comes to smart financial moves.
Very correct, investing is plain-sailing using a well experienced advisor, and at first-hand experience, I've witnessed my investments compound over 280%, since Jan.2020 amid rona-outbreak, summing up nearly $1m as of today.
this is huge! been a fan of asking questions like Socrates, seeking information and handling certain duties to professionals, my $ 100k index has been shortened by 10% due to inflation over the years and I could really use a help at this point
I learn a lot from "DESIREE RUTH HOFFMAN, she's a big name in her field with more than 20 years of experience. You should look her up online for more info.
very much appreciated, just inputted DESIREE RUTH HOFFMAN on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I just gave my old job the ultimatum of "Give me a promotion or I will find someone else who will." They didn't seem to care so I did just that and almost comically fast in only a month from apply to first day. I went from an hourly job to a nice pay bump of a salary job. I will do this new job until I reach the point where it is almost effortless then repeat the process. Command a promotion or find someone else who will give it to you.
Here to echo that while delayed gratification is important, the marshmellow test has very different conclusions than was presented here. Teaching kids techniques to resist the marshmellow was more helpful in delayed gratification than any sort of "natural" ability.
Regarding tracking monthly costs... it might seem to go against your next trip of avoiding credit card debt but if you want some easy way to do that and a win from it get yourself a cash back credit card and make sure you can practice the discipline to not overspend on it. Then buy everything on it. They will pay you a few hundred dollars a month as long as you keep the balance is zero month to month and you could download your transactions to populate your spreadsheet to look at what you're spending
I'm more with Ramit Sethi in terms of logging my expenses. I don't think it's productive. I've paid debt off, bought a house and saved up more than $100k without really logging any expenses. However, if you're a person that has issues controlling your spending, this method will probably help you. Great video!
Im a recovering alcoholic and i got sober in 2022. Within several months i was in the gym regularly, i got pay raises at work and ive almost doubled my income since. My net worth has exploded. When i drank every day my mind was clouded. I could go to work but my life problem solving skills where trash. The only problem i wanted to solve was how to get more alcohol asap.
Smoking Cannabis shoulda been part of the Alcohol slides maybe aswell??
If you know that you're good at your job don't be afraid to quit. There are others who will pay you more.
Alcohol is usually paired with less than healthy snacks. Higher alcohol consumption can lead to an EXPENSIVE and possibly deadly DUI. It costs $, adds junk calories, and decreases sleep quality. Moral or not, the "investment" in alcohol does not yield returns. Sure, it's possible to have an occasional beer or two with friends and gain the intangible quality time.
My guy worked on game of war? Speaking of middle class traps 😂. Enjoyed every second of lighting my money with that game.
Your point about bonuses rings so true. At my current job, people send around reminders to turn off 401k withholding to avoid a portion of the bonus being taken for the 401k. It strikes me as extremely short sighted…what better way to make an extra contribution to the account?
I would have probably been a No.1 kid.
Today, I'm a number 2 kid, and less impulsive as I used to be.
Unfortunately, I have gotten into the habit of justifying many purchases more than I need to, doing a value benefit analysis of even small things like a cup of yogurt....
Thanks for continuing updates but I'd rather trade the stock market and crypto, as it's more profitable. I make an average of 84,500K per week even though I barely trade myself.
I'm really Blessed and Grateful , Thank God .. 92K weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Well Thanks to Mrs Helen Alan.
She's a licensed broker , Investor/ Trader here in the states 🇺🇸
YES!!! That's exactly her name (Helen Alan ) so many people have recommended highly about her and am just starting with her 😊 from Sydney Australia 🇦🇺
I used to have premature spending. I would blow my wad of money on everything. Now i can last forever with my basics. Im so hard with saving and investing. im busting at the seams with extra cash.
😂
Bro irks my soul but knows his stuff
This might sound really bad, but for me the key was being a smart introvert is an advantage that has really helped me built my wealth fairly fast.
My mom says “every time you leave the house, you’re spending money.”
Listen to yourself, do I deserve the good thing in life? If you do, pursue it, no excuse life style.
Dude I feel guilty. I am drinking a bottle of beer when I started watching this video. LMFAO
Hello from Manila!
Seeing my investments grow more within the 2 weeks of each paycheck than what i contribute feels amazing. Last paycheck I contributed around $500 to my 401k and Roth IRA total and my money grew $1,300 excluding the $500.
Habit Number 6 is the most important habit for a majority of people to address!
Hi Humphrey thanks for your advice! Just to make sure, the 6% that we contribute toward our 401k counts toward the 10-15% we should be saving. Correct? Thank you so much!
I know theyre being used mostly as like an allegory or adage, but I don't really like the use of pseudo-scientific arguments in this video. First with the sparknotes of the debunked stanford marshmallow experiment and then quoting Newton's 1st law out of a physics context. It strikes me as an attempt to artifically generate some sort of ethos by saying things that sound scientific without actually understanding the science.
Good point
I always wondered whether the children in that marshmallow experiment just had different ways to estimate discounted cashflows
I have a question about 401k! I freelanced for 10 years and never really saved money. I'm 28 now and I finally got a full time job with all the benefits. My 401k is only at $8k. What can I do to catch up and make up for lost time?
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
"I think I find tracking expenses fun." Me too why are we like this lol
Imo the 4% rule is only applicable to early retirement where your projected life expectancy is too far away to risk dividing your portfolio evenly into that number or years. It would be overly conservative to expect a non depleting portfolio at retirement age.
Great video
Is it an issue to overuse the credit card? Almost 100% of my spending is through a credit card. My mortgage cars and motorcycle are all paid off. The only credit I use currently is credit card and I never carried a balance ever (I’m a credit card owner for the last 25 years)
You are a credit card person who is killing it. As long as you don't carry a balance it's all good
The link for the spred sheet is not linked ( with a link) at the bottom. Is it because I'm watching on my phone ....at work ....when I should be working? LoL
I just want to say, shout out to Game of War for teaching me an expensive lesson on game addiction. Seven years of sobriety, baby 🎉
Hello! What finance tracker app do you recommend if you had to use one?
It is a horrible habit of employees to only look at revenue when asking for a raise. If you want a raise, go to a meeting armed with one of the following a) how you will increase revenue b) how you will decrease expenses c) how you will free up someone else who can increase revenue or decrease expenses better than you. If you don’t get a raise after implementing these strategies, change jobs as you have discovered that this workplace does not value you
What is the most well balanced investment portfolio, Index funds and individual stocks? How much QQQ, S&P, Dividend, individual stocks?
i constantly ask my boss for more money. doesn't change anything. sadly in my area there really aren't any good paying jobs, its a very low income part of canada. i've considered moving to a better place but abandoning my friends and family isn't really in the cards for me.
@Humphrey_9 you are clearly a scammer. you don't even try to hide it. do people actually fall for that?
I don’t believe $1.398M in 40 years will be a comfortable retirement.
Ha ha ha so funny
Well, the 50k base salary did not account for salary rises nor promotions. So the final amount would be much higher, in fact.
It's a nuance, 1.4M today is a decent sum
the system is not designed for people to be able to retire its to maximize human use until 60 and they die of some illness
I’m convinced that investing as little as 50k-150k in the right company before it goes big is more important than buying the dip, however picking the right company lies the difficult task. My question is, what are the best opportunities to accrue profits now, amid market crash?
for me, investors should start with S&P 500/ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth
The issue is people have the "I will do it myself mentality" but not equipped for a crash, hence get burnt. Ideally, advisors are reps for investing, and at first-hand encounter, my portfolio has yielded over 300% since covid-outbreak to date, summing up nearly $1m.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Aileen Gertrude Tippy" has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I never understood the designer bag thing. It’s a BAG! You can literally get one for free at a grocery store!
Time to get locked in 🔒🔒🔒
Yessss
To anyone struggling to delay the gratification, I can promise you that once you just do it and then you start to see your savings/investments snowball, then you'll flip and start struggling to reward yourself occasionally 😉
Just wondering, what app do you use to track your daily expenses? There's so many options it's overwhelming lol
“Spending Tracker”
Rockey Money is a good app for tracking
@@RayeHana I was using the notes app on my phone but I just switched to the monthly budgeting template for Google sheets and I'm loving it, I can not only track my spending but I can input my expected spend and whenever I put in an actual transaction it deducts it and shows how much I have left that I planned to spend on that particular item, it's a great tool as well
I’m all for everyone saving for retirement, but the money needed for $50k was too high because, for most people, you need to subtract out the money from social security before figuring the 4% withdraw rate. Ie if you’re getting $1250 per month ($15k) in ss then you need $35k. Remember that number is before taxes are taken out.
You know the birkin..😊
Hey Humphrey , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
I think it's kind of funny that you and Real Clear Tax came with this video idea at the same time
How much to have in retirement can be tough. Today you think you would need 50k a year in today's dollars in 2024, then you save for 40 years, then you have a 20 year retirement. 50k per year today won't be anywhere near what 50k is a year in retirement from approximately 2064 through 2084.
The marshmellow test is wrong. It measures not individual character but social behaviour.
3:39 kids were right, if you will wait 15 mins government tax may take half of the marshmallows and inflation may take the other half.
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you Mrs Emily L Romano, imagine investing $12,000 and received $305,500.
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment
Mrs Emily L Romano was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Emily L Romano.
She must be really dedicated and well trusted for people to talk much good about
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional
I Started with $5,000 and Withdrew profits $89,000
I don’t drink at all quit 5 years ago, huge waste of money and honestly drunk people are annoying, instead of drinking in moderation how about not drinking at all, I love how alcohol is a drug and yet we treat it like it can be handled but if I said “try not to do drugs too often just in moderation” everyone would have a problem with that, don’t drink or do drugs. Period
I drink in moderation, not every day, and no more than one or two at a time. I don't binge drink and get sloppy. There's nothing wrong with occasional light to moderate alcohol use. If you get drunk every time you drink, then you have a serious problem and need to quit completely. Seems like you made a wise choice for yourself.
i'd advise you redistribute assets in your portfolio with the help of a pro so you don't get burnt in the market
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure and that's fine by me.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
Her name is. Jessica Lee Horst . Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Marshmallow test results exclude information, that children that ended up successful were from more successful families
Without even watching I can say we only have so much time and money we can't take. And all because a few dictate the rules for everyone. Don't forget that and think some but make moves and live love life🖕 them
@Humphrey.4 ok go ahead is freedom of speech but do what you feel is necessary
Abusing alcohol seems a little too specific...how about just vices in general? Or substance abuse?
I can't be the only one here thinking that asking for a raise is kinda nonsense. If you work for a large company like me, you'll find that your boss has very little control over your salary. And that your salary is capped based on role. The only way to get a new salary range is to get a promotion or new role. If you like your current role though, that's where things get kinda problematic. Regardless of whether you ask for a raise now or not, you'll eventually be making that same amount later anyways because of scheduled raises. Until it eventually caps. So basically they control things such that you never cap out. If you were to ask for a better salary range, that's when the nervous laughter starts
I'm new to BTC/Cryto investment and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
Without a doubt!MRS Telisha Grover is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. her strategies are meticulously crafted based on thorough research and years of practical experience.
MrsTelisha Grover, has really helped my life and entire family during last year. may the good lord inspire you more .
The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial.
Please how can i reach her? i think i should try this woman. i have heard so much good news about her.
Thank you very much. I am really fascinated with investing and I'm lucky to have seen your comment. I'll look up and leave a message
Why don’t you factor in inflation 40 years later. Please explain how 50k will be “comfortable”
Does anyone actually end up getting a raise above 3% when they ask? I've asked a bunch and basically got told either take what they give me or go somewhere else if I think I can do better. We also don't get bonuses
The trick is to find out what your market value is. If you’re paid below market value most companies have a way to bump up your pay quickly to fill the gap.
Remember if you’re paid over market value, you’re a candidate for replacement. Some of market value is subjective and market dependent so there’s a range. A reasonable goal is to be on the higher end.
A clue that you’re paid under market value is when a new hire comes in earning more than you.
3-5% annual pay increase? I wish. More like 2%.
Who was it that first said "If you can't be a rat don't join the race"
If you're making only $50K in San Francisco, you're poor AF! You ain't saving anything into retirement.
May I suggest seven simple baby steps to build wealth and avoid the seven middle-class traps? 😁
First*
*is this still a thing?
Yep!
Yeah if you’re a 5 y/o
@@wados3579I am in fact 5 y/o
What Key board is that?
I don't want to be snarky but the example of someone who exercised deferred gratification only to die at age 56...
People became cheap ... they are so poor that they dance for any amount.
Discord link is invalid
Number 6 was kinda a weird but ok
Bunch of bullshit to divide profit by employee count. Much of these employees are just doing normal operations work unrelated to sales. Could easily be replaced by a consulting firm for less and not crucial to making the company money or staying alive.
Did you really start out with "as someone who worked over 8 years in corporate blah blah blah"?
Dude, having worked as an employed person for 8 years is not a flex, not is it a signal of expertise. Cut the inflated "corporate" lingo. This just means that youbwere an employee for 8 years. Just like most people when they start a job when 12 years old. Not many become self employed before they have managed 8+ yrar in a job.
Subscirbed.
So much happiness and joy $47k weekly returns has been life changing. AWESOME GOD I now have a house and can now afford anything for my family even with my Retirement..
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how??
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
Great to see you guys talking about Angela Grace Boots, This woman changed the game for me.
I will leave her contact down below
+1689
Drop the diet Coke!
Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Taylor
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading.
I'm new at this, please how can I reach her?.....
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
A lot of people think they're under paid. Hahah
A lot of people are under paid and undervalued. Especially the truly creative people.
Not all of those people are wrong, though.
@@07Flash11MRC Most people who feel are underpaid absolutely are!
Fourth ❤