My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Beautiful journey, one that folks really need to watch. I’m 50, retired a while at 45. I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accounts, in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly.
I accidentally stumbled on some amortization software in 1997. When I realized the real cost of debt, I was completely debt free by 2008, and fully funding all my retirement savings opportunities including Roth IRAs and 401Ks. Now we are living in a brand new luxury home with a new car (and one 3 yo car) all paid for in cash. We need 55-70k a year to live, and most of that is covered by my pension. All those investments are just compounding... and we couldn't be happier!
Just a quick note. My home was paid off at 55, I was able to pay cash for a new Toyota tundra. And I spend 6 months a year out of the country traveling. ALL Due to being debt free. Also since 55 I have been able to put monthly into the stock market. It's been amazing.
@@MarkFreeman-xi3rk You seem to be doing a bit good for yourself. Do you achieve this via a consultant? because I need a scheme to generate a high yield percentage ROI for me and advise on what that would be. In essence, good investments that'll help me achieve FIRE.
Oh yes I definitely use a licensed consultant Margaret Johnson Arndt She places a sizable portion of my capital in fixed securities that generate high income for me quarterly like treasury bills, corporate bonds, government securities, and debentures & REITs.
Thanks for sharing this! I looked up the lady you mentioned, and let me tell you, after going through her resume, it's clear that she's a total pro. I sent her a message and now I'm just waiting for her to reply.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
Not really. Approximately four years before to my dad's retirement, our family was introduced to a financial advisor. That was the catalyst for the transformation. I believe my retirement income would be on the right track because I've been using the same advisor.
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?
I'm hesitant to make recommendations like this online so I can't drop her contact here, but you could look her up yourself and contact her if you wish. Her name is *Sharon Louise Count.*
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
`This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within the short term but to execute such a strategy, you must be a skilled practitioner or be working with one.
@@JoeWilmoth-k2w I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.
@@BarbaraLouise-i3r How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@@MelindaMatsuda Victoria Carmen Santaella is the licensed advisor I use. Just search the name. You’ll find the necessary details to work with to set up an appointment.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Karen Leigh Owens is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Technically, He didn't retire. You left your old job for something better. Given the severity of the inflation and how worse it is predicted to get, retiring early might backfire. Real question will be; How to retire early and still maintain cash flow while doing minimal work, just as you did.
Practical approach; Spend only on necessities (save a whole lot), Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Can comfortably retire at this point.
@Kentucky Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.
If you call creating videos for which total work put in is 8 WHOLE hours versus thr rest of us doing 40 or more hours, then I would call that quite retired.
@@jdthompson5778 not really he makes a ton on RUclips ads and affiliate programs. Plus he spends so little and paid off his house. Most of the foolish masses would feel sick to their stomach to live a very frugal life so will work 90% of their wake hours till 65 years old and think they will have their health to enjoy it thrn
It's pretty much what "The Millionaire Fast Lane" by MJ DeMarco teaches. It's hard to build great wealth from conventional advice.I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor. It's been almost six years now, and I'm a couple thousands shy of a million.
I think that is the problem most beginners have, particularly when they hear how some people got lucky off investing, on social media. Platforms that enable easy trading too, like Robinhood, don't make the situation any easier.
This is a pretty decent return despite the turbulent market over these past few years. Is there any chance you could recommend who your financial advisor is? I bet I could use some help. Thank you.
I have worked with a couple of financial advisors over the past few years. First started out with a guy that worked for Bridgewaters. Same wall street rippers. I then switched to an independent advisor, *Sharon Louise Count,* and, I won't even deny it, she's been really extraordinary.
Good for him BUT can we please see less of RUclipsrs being featured? How do people who do not have the luck to have a successful RUclips channel can make it? We need more of these…! PLEASE
@@JoTheTechie it’s a combination of both luck and hard work. There are tons of stories out there of RUclipsrs who never make it even though they work hard. The luck comes in having content that the algorithm picks up.
@@everydayedgar5782 thanks ! You the goat! I know some people who started a channel nearly ten years ago and consistently post but do not make it through the algorithm compared to some who started three four years ago and already are millionaires. Hard work pays off but in the digital world, may the luck 🍀 be with you.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@helenoliver4838 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@danieljamal3709 *PRISCILLA DIANE AIVAZIAN* . look her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
You said it all. It's hard to predict the future, but one thing you can always rely upon is human GREED. Once stocks start rising again, people are going to think back and kick themselves and ask why they weren't willing to buy things at a 60-80% discount. Interesting I'm also a subscriber of *PRISCILLA DIANE AIVAZIAN* signals and if I were to rate her accuracy, I would say perfect 👌
The man did not retire early. He just changed career tracks. I'm glad we he's doing something he enjoys more. But let's not throw around the phrase for everyone that just gets a better job
@@donsterr retiring is when you no longer have to earn income to live. Zero. You could still work if you want to, but no need. If you need to earn additional income to live, you just swapped jobs. Not throwing shade, but there's a reason that a whole separate category called CoastFire exists
Nice video. But he technically didn't retire from work early. He just quite his corporate job to start his own business (youtube). Everyone can potentially do this if they have their own business that brings in good income. What will be amazing to see is an average Joe who worked a normal corporate job and truly retired early via FIRE.
that's impossible for someone to work in the corporate world and be able to retire completely as a young person. I'm an engineer just like Francis and paid off my house and have been maxing my retirement for 10 years in growth funds. I have also been saving roughly $1500 per month because my working income was never as high as Francis (not even close). Unlike Francis, my house only appreciated 15% since I bought it 15 years ago. Having no wife, no kids, and not living in excess, I still won't be able to retire until my early 50s and live off liquid savings until I'm 59.5 years old when I have access to my retirement accounts (401k and Roth). With no RUclips income.
@@WhatIsThis-zq4hk 1500 isn't a lot. But over a 12 year period it will be. Also, I meant to say early retirement (before 40s) is impossible for someone in my situation. Especially without RUclips income.
@@dachicagoan8185 I think someone in your situation can retire early. I was able to reach FIRE before my 40th birthday on an average income of $60K/year. It is possible if you have the right strategy and mindset. Most people won't be able to retirement early working a corporate job not because they can't, but because they don't believe they have what it takes. The first step to realizing your higher potential is to believe that you can. Once you know your why, the how will come naturally. Different people will have their own unique ways to get there. For me it was building wealth through investing. No matter the path, the concept is always the same. Take ownership. I believe you can do it. Good luck.👍
The dude's net worth is basically just his house at 1.8M$. And that was due to appreciation, not saving. He should have saved much more working as an engineer for 10 years.
Either he put all his money in his home and it's paid off or they're not including it in his networth. It doesn't seem plausible to me to save the way he says he saves and only have $200,000 liquid. In anycase his youtube channel essentially replaced his income. I rather do that than work a 9 to 5 for 10 more years.
He does not have kids either. I probably spent over 1 million raising my two children. Private school, food, clothes, tutoring,swimming lessons, martial arts, vacations, basketball, tennis, golf, biking, cell phones, iPads, etc... I am a little older than him with a net worth over double what he has. I feel as though I am living pay check to pay check. The Bay Area is an expensive place to live in. I will retire when I reach $6 million. My wife and I both switched to working part time this year. We each work three days a week and both have six figure salaries.
Lmao, this is one of the inside jokes on his channel. Everyone always says " why didn't you work just one more year ", so he has made several videos in which he casually addresses this question.
I'm a very concentrated investor but sometimes there is value in adding a small new position. It isn't for diversification. Focusing on something new provides a productive distraction from overthinking what you already own. It allows you and your portfolio to breathe a little bit..
Super excited about the next bull run, I’ve increased my buying again since stocks have been on sale, but I’d really love to know how to use this recession to my advantage, I'm aware a good lot are making a fortune right now and I’d love to do the same.
@@legilooks, I have 55k in a well-diversified portfolio in stock and digital assets which have grown by 3x in the past 7 months with compounding, venturing doesn’t necessarily boil down to funds but you also have to be informed, be patient, and back it up with good guidance.>
@@charlestancred6181, CINTRA V. BEDASSIE looks her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.>
I'm glad to hear that he is a little less frugal than he used to be. It's hard to watch when people figure out how to make a ton of money, and then they don't know how to enjoy it at all. It sometimes seems like a waste.
I don't think he is a hedonist, just by looking at him we can tell that. He probably gets pleasure out of being austere and thrifty, some people have this psychological trait. Asians have competitive tendencies also, another factor and the motor behind his actions. We can survive on very little, we can live on a lot and have a better life quality, the only thing that is finite is time, that is something no one can get, which is actually great. Everyone has his way of being, accepting that is the real challenge.
@Laina Brown-Money at Home, when you've become accustomed to saving all your life (and become rich because of it), it practically becomes a game to continue challenging yourself on finding ways to save more. It's not a waste at all. It gets to the point that you have enough to share it by giving it away to random ppl & charities. It's not a waste at all.
his definition of enjoyment may not be the same as yours or require spending much money based on what he said, the most expensive activity he does is travel, but when planned properly that doesn't have to be particularly expensive
Retired with a 7 figure portfolio and Receiving about $53k in dividends. I have been in the Stock market about 20 years. Am I worried? Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding more at a time. my investment strategy actually calms me down. Eye on the prize, stay the course!
Dividend investing is great, just be patient. I went from making enough passively to pay for my netflix and hulu to now making enough to cover half of my mortgage. Not commenting this to brag, just to give hope to anyone who is discouraged by tiny gains in the beginning.
Recently I got into the financial niche, and I’ve taken a deep dive into investing, particularly dividend growth investment as it interests me. hoping to get to your level someday.
Love ❤️ it when i see my fellow individuals excelling. I'm also on my way to the millionaire's club from investing in stocks. It's exciting watching your wealth grow. Good luck to us both.
@@LegolasD The stock market has plenty of opportunities to earn which I myself took advantage of.. I made my first million from going diverse, mainly ETFs(stocks, bonds etc), coins, and gold. I'm also working on an investment plan that includes NFTs with my advisor, Rosemary Carlson. It's been a year and half of steady growth...
One of my favorite RUclipsrs. Nice to see him make it in the Bay Area and still living here to this day. Shows that a lot is possible if you’re willing to be abnormal, consume less, invest more, and always find a way to get to your goals. It sounds impossible but he’s living proof. Many people make way more than he does but are nowhere near this. It’s a matter of how much you keep vs how much you make.
@@donsterr abormal meaning to quote Dave Ramsey. “Don’t be normal. Normal is broke.” Clarifying that typical behaviors of most people perpetually work against them and whatever financial goals they have. They lack the will, acumen, knowledge, or even desire to better their financial health.
@Death Of Time well since I follow him on RUclips his family is there. You can’t always pick where your family raises you and decides to stay in. The problems you speak of exist in many major cities across the US. But he actually lives in Fremont which is suburb over an hour drive from SF and half an hour or so to San Jose. If someone can afford to live somewhere where they’ve resided for a majority of their life, where much of their family and friends still reside in, it’s really a strange thing to have it be a marker of someone’s intelligence. Many people grow up and see their neighborhoods and cities change around them. But they stay because their roots are there and they can afford it regardless of how unaffordable it is to people in other cities or states.
@Death Of Time being the penny pincher he is, he really live anywhere in the world and be fine if it’s a question of dollars and cents. He doesn’t have a high burn rate. So wherever he chooses to live with his habits and wealth is dependent on what’s important to him in terms of proximity or amenities and or family/friends. The states you mentioned aren’t as comparable in terms of people density, economies, jobs, etc. Politics is a whole thing too which take the focus away from this video/story on how he’s found success. You squish a lot of people in major cities and problems will come. Boise Idaho has been in number of headlines for housing market with remote workers driving up prices. Though it may not have the crime and homelessness compared to major cities or states it does have the problem of quickly rising housing costs that price local people out. Is Boise a representation of its state? Hardly. Yet somehow the Bay Area is a representation of its states problems to people outside of California.
Ive been working for years without being able to save to invest largely because I have to take care of my mom who is too old to work and my brother who refuses to work. I envy those who work and not having to care for anyone. Youre in luck without being aware of it.
Have you heard of the infinite banking concept. It might be a way for you to start on a savings journey and then soon having a foundation off of which to invest.
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
No disrespect for his achievement but $1.2M is nothing but a modest home in much of California, $2M is great at his age but he's going to have to continue to grow it.
$1.2M is nothing ??LOL,if i have $1.2M million us dollars I would no longer work in Portugal where I live. I am 32 years old and with this money I would enjoy the rest of my life without problems like a king!!Here in europe in many countries you you can live like a king with $1.2M us dollars!Ok maybe in USA $1.2M is nothing because the quality of life in usa is far superior to the rest of europe not to mention the uk, france and germany!!But for example here in Portugal with $1.2M i can buy 6 good houses in Lisbon.
@@jkdfjufseytjreyj4003 Can't even read an entire sentence? As stated it's a modest home in much of California, I believe the one he owns is more than 1.2M and his net worth is 2M....excellent achievement at his age, I only reached that recently much older. But it's not 'wealthy', it's a decent retirement at 65 plus.
He does it for fun, obviously. If you retire and golf all the time and make a RUclips channel, you're still retired lol. How about the people who retire and work part time because they need something to do?
This is more like "semi-retired". Im the same way. 46 1.7m no debt and 17k month passive income. But I stilm work part time and have a business. Retired is "not working".
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
Sure, the inv-coach that guides me is CHRISTINE ANN PODGORNY, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her!!
Christine really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Being broke is easy- go on a spending spree, gambling, party and lay around depending on unemployment and so on. Being successful is hard because it takes a lot of dedication, determination and hard work!
Just because you have your house paid off doesn't mean you can't be kicked out. If you fail to pay property taxes, you house could eventually be auctioned off.
The title should be "How I became a full time youtuber at 37 and fully paid off my mortgage". These clickbaity titles are very misleading and sets a unrealistic message.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@BrandonIvan-c6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
Yeah it’s unfortunately taken me being SUPER broke to realize how little you actually need to live happily. I’m about to start a new lucrative career and I plan to continue to live like I’m broke except for going on trips maybe yearly and going out with friends every now and then. I want to pay off all debts and save more than I spend a month.
I lost my mother at 23. I lost my father at 24. I inherited $2.5 million in assets and retired early at age 24. I invested in real estate owning 27 rental units and my net worth at age 31 is $4.2 million
@@NinjaStealsBike your argument may not be wrong, but that's like saying, "ohh he may have lost his legs but atleast he has a wheelchair. Like what if, he didnt have a wheelchair"
@@mocheen4837 that’s amazing! I would like to know how did you achieve that? Do you mind telling me how you old were you when you stopped working for others? I was an orphan got adopted at 15 by a parent with master’s degree. I got my engineer degree and still pretty broke after working as an engineer. Colleges really don’t make us gain financial independence. Looking for other paths to achieve financial independence.
After studying the trajectory of great assets like real estate, dividend paying stocks of blue chip companies, gold, etc. my conclusion is that most great assets never come down to the price that you want them to so you can buy. Just buy the ones you can afford today.
@@instinctively_awesome8283Getting investment guides from Stephanie Priscilla Bonillo who guides through the market made me avoid a lot of rookie mistakes. I decided to seek guidance while I improve my trading skills and investment strategies. The experience has been a smooth ride and i am going slow for now
Being retired is very subjective. I live like Im retired and spend my salary like I’m retired while also saving enough for my actual retirement. I think people mistaken what retirement is. If you don’t enjoy your life now, nothing much will change after retirement. You can’t just wake up after retirement and enjoy spending money on things. I may not be frugal and save as much as this guy but I live without debt, so that’s how I define saving.
If I was in this position, I think I would probably leave my full time job 3-6 months from the date I knew I could retire. I'd take a 2-3 year sabbatical to travel the world, but I think I'd want to work again personally. People just want a fresh start and different way to look at the world after doing things 'one way' for so long. There are people who want or push the title 'VP' or 'partner' more than they want the ability to live like a 'VP' or 'partner' for the rest of their lives. I can't do that--I care way less about the titles and more about the experience and actually becoming a successful entrepeneur. I can't fathom working 60-70-80 hour work weeks with no breaks. There's a fine line. The ending of this video sums it up perfectly....people just want to be able to take a break whenever they want.
I was working an average of 60 hours per week. I just changed positions at work to part time and working from home. My wife and I both work 3 days a week. We both have six figure incomes and max our retirement accounts. We are able to spend more time with family and travel. We have full benefits and seven weeks of vacation.it is still rough living in the Bay Area, because everything is so expensive.
People who are successful and smart enough to retire early CANT retire early. That intuition, brains, diligence generally doesn’t go to waste and they just pursue something better. You’ll never see these people sitting at home.
I have a friend who has a wealth value of over $100M and still growing but still works very hard coz he enjoys it and he helps so many people to have jobs and earn for their families.so that is his meaning and purpose in life....duties and responsibilities to others not only to yourself you focus in your lifetime.
I used to watch his channel, and I often wondered how much his networth was, now I know. I tried following his budget, and seriously it was impossible, and I live in a very modest area; in the North. I am older than he is & even with the perks that seniors have; I could not live on his budget, and my family thinks I'm frugal. He really didn't retire, he just switched his employment status. Unlike him, I'm truly retired. Ms. B. Churchill
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
I work with Sonya Lee Mitchell who is a licensed fiduciary. Just look up the name. All the information you need to work with a letter to set up an appointment is included.
Iam retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts .
Traveling the world is one of the biggest motivators on my FIRE journey too. So cool getting to see the "Retire-Early" portion being optional, and the FI component really just freeing you up to focus on doing what you love. 🔥
Really cool to see Francis on here. Seems like he’s finally speaking out on his journey in other channels (Graham Stephan’s ice coffee hour and now Cnbc)
I’m a fan of Francis RUclips channel. He is great at budgeting and being frugal! He has done great by investing his money in the stock market and making sure to own his home.
Double up on jobs Marriage to someone similar Babies and buy a house in cash ASAP Mom is birthing nursing and parenting Dad is still getting earned income until unearned income exceeds living expenses of groceries and housing costs Then can choose between working parenting and hobbies
Much respect to Francis, I’m definitely going to subscribe to his channel. I’m not a FIRE movement fanatic but I understand the intent behind why the younger generations are doing it and I give kudos to the ones who achieve it. In the end of the day @6:44 he summed up how many people of the younger generation feel and he is correct.
what's the point of BTC, if they can create mechanisms to manipulate the price the same way as any other asset? The big hypocrisy here is BTC is cheered on as an alternative to fiat, yet the same people turn around cheer institutions coming onto the scene as well. The result is again, an unfairly priced and manipulated asset, seems like we're going right back to square 1.
well, i am frugal to a point that i buy expiring food, never took a cab for many years and would even eat food that has turned bad. eventually, it comes to a point for me to realize that money is nothing if you end up being dead the next day; you don't have the time to spend and enjoy it. The goal is not to make all the $ in the world, but rather to establish financial independence where your asset can generate passive income enough for you to live a high quality life, not to live like a beggar. So i learn to love myself and not to be so harsh on myself moving forward..
respect his hustle and willingness to just be gritty and get to a point where he's living life on his own terms. I remember when I learned about FIRE...it was kinda like a red pill vs blue pill moment. Some positives to learning about it and negatives but if I go back...I'd still choose the red pill.
Can you guys find someone who's actually retired early and not using content creation to subsidize their lives? This guy isn't retired if he earns $12,000 a month uploading videos and getting people to click his links. Every time you post a FIRE video, the subject simply traded their job for something that paid more.
Besides being a few years younger, Francis is basically me. He lives just a few miles north. I reached his stats about a decade earlier but no way I can fully retire. With a family to watch over, I can’t just take off like he does. I’ve always worked for myself, so there’s not the same urge to retire. If I wanted, I could chill for 3-6 months and live on my passive income, which is way more than his RUclips earnings.
If I did the math on what it cost me to send my kids to college and all the other costs associated with bringing up kids, there is almost no way anyone is thinking retirement with all the other costs around mortgage and living expenses. Are there a handful of exceptions featured on YT, sure, but the problem is when the Average Joe is sitting on his laptop thinking that a handful of people represent some huge population of ppl.
@@swisstrader I’m childless so take this as you will. My parents didn’t pay for my college and It has made me resilient and resourceful. I’m not saying you shouldn’t support your kids entirely…If I have kids, the most I’d give them is about 20gs and say that’s all I have find your way. Encourage them to get scholarships or go to cheaper universities. If the college isn’t a life changing top 10 in the world type of school, or they aren’t trying to be doctors etc, don’t break your back. That said, there’s funds you can start building from when they are born to until when they turn 18. Additionally, you have to look after you. The greatest gift you can give your kids is them not having to worry about you as you age out. They won’t have to come out of pocket for nurses etc. because you’ve sorted out that drama.
@@Clockwork_999 I have 2 crazy successful kids so I am truly blessed. I’m doubly blessed because over the years I was able to help my kids pay for college, teach them right from wrong and be wired to be ethical people, know how to be financially independent and enjoy their lives. Life is good!
Amazing story! It reminds me of our story and how we were able to become millionaires at 35 and retire at 38 on a low income and 3 young children! WELL DONE!
I have two children and live in the Bay Area. We both work part time now and are enjoying our free time with the family. Hoping to make it through 2022’s recession. We need to work for 8 more years before we can retire.
@@mocheen4837 That's fantastic news! Stick with your plan and endure this 2022 volatility... hopefully the market will rebound soon! Let us know if you have any questions about FIRE, Financial Freedom, or Early Retirement. It would be great to compare notes. Have a great day!
Nah lol I want to retire early and aiming that. I want financial freedom and not have to work for anybody no matter how good the job or or how much they pay me. That’s absolute freedom
oh lovely instant profit All the advice you give pertaining to being a self-made business woman/man, is so VALUABLE. Truly, ty for everything you're doing to help motivate and inspire the rest of us. You have a heart of gold girl and I appreciate you! Just subbed!
I am 42 and I have 1.23 millions net worth and I also live in California. However, I don't think it is a good idea to retire (in California) with only 1.2 millions. In order to live a comfortable and really worry-free retired life in California and if you are married, one needs at least 2.9 millions net worth for the both to be retiring in California. That is provided the house mortgage has been totally paid off, and the two of you can put at least 1.5 millions in REITs with stable 5% annual payouts (or, $75,000 usd) so that, before tax, you and your retired wife can both have roughly $6,250 disposable capital per month. Food, energy, fuel prices are all going up, if you are not married and have 1.2 millions net worth or liquid asset, you may still live your life normally. However, for married couples, 2.9 millions liquid asset plus net worth is the bare minimum. You gonna have to visit doctors more often as you age too. Therefore, I have 1.5 millions in REITs with 5% annual payout, and 1.4 millions in other investments and allocation for unexpected medical expenses, plus some allocated for annual trips too.
One thing that stands out is that he is single and doing this by himself. One thing about retiring early is that you miss out on lots of social interactions
I retired early as well. Cut down or even eliminate any reoccurring expenses. And build on reoccurring passive income. The only reoccurring expense I currently have cell phone + WiFi bill, insurance, but these are cost that helps me generate income over expenses. Even though my home is paid off, I still rent out the rooms for passive income with a net positive.
What would really be interesting is interviewing this dude again in the heart of a bear market to see how he manages the downturn. Since he didn't even discover FIRE until 2013, he hasn't really seen a complete cycle yet.
He had two million and his home, so 3.8ish. He can always move to a LCOL and he's still bringing in a lot in YT income so he isn't tapping into his savings or investments
When I was young, I negotiated with my parents to give me a monthly allowance. I used to spend it in a week or ten days. I borrowed from my younger sister without interest. She went to the very strict girl's only school as opposed to my affluent co-ed. She didn't have the need to spend money. I did repay her, or she didn't really care, if I did or not. That was very fortunate. No debt collector pursuing me. I realised our younger childhood relationship paid off. I always protected her and allowed her to tag me anywhere.
The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant
Actually you can get by in CA on a low income. There are food banks (am eligible for senior pantry) and it's easy to get social living benefits, (they take your annual income NOT assets for determination) like EBT, Medi-Cal (now Med-care,) Lifeline phones, Sec. 8 housing etc,. subsidized utilities. Entertainment can be free with good weather, outdoor activities, bike riding, kayaking, have a rubber raft so go boating, walking, many free festivals, lots of places to go and see free music (but I always buy food or something to drink) if not an outdoor concert and in L.A. can see semi-famous bands, watch movies from library or cheap streaming services, not sure in other states but here in L.A. every time Dodgers win, you get free pizza from CPK. Don't have a car but L.A. (despite popular stereotype) has many public transportation options, as a senior get my cities taxi-ride program, for every $1 I pay get $13 in taxi credit. I retired at 62 so only get $550 in S.S. check (always had low paid service type jobs, easiest jobs to get) but put 200K in an annuity and get $1k a month for LIFE, my condo is paid off, and can even travel, Amtrak USA pass on sale and cheap cruises 30 day South Africa to England starting at $999 (this was during Ebola when people were paranoid about it but always bargains to be had) but since can live on $1k a month am able to budget $6K a year on travel and do NOT feel deprived, but AM single and childless.
Lol He probably just actively use like 3 cards- the Pikachu and whatever other Pokémons that is the most chosen. I have like 10 but only use 3 since each card have different cash back or point rates for different categories of spending to maximize the return. The other cards, I just use it once a year to keep it alive so my credit score don’t get hit by closed card.
This video is mislabeled, he’s not retired he just quite a corporate job and went independent. Appreciate his story but don’t appreciate the mislabeling by CNBC.
Not necessarily. You have to be a determined individual who will find a way to become successful. It just so happens that this was Francis' way. Don't knock YTbers down just because they're featured.
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
I really need help, please. Can I ask who the financial advisor you work with is?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Beautiful journey, one that folks really need to watch. I’m 50, retired a while at 45. I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accounts, in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly.
I accidentally stumbled on some amortization software in 1997. When I realized the real cost of debt, I was completely debt free by 2008, and fully funding all my retirement savings opportunities including Roth IRAs and 401Ks. Now we are living in a brand new luxury home with a new car (and one 3 yo car) all paid for in cash. We need 55-70k a year to live, and most of that is covered by my pension. All those investments are just compounding... and we couldn't be happier!
Just a quick note. My home was paid off at 55, I was able to pay cash for a new Toyota tundra. And I spend 6 months a year out of the country traveling. ALL Due to being debt free. Also since 55 I have been able to put monthly into the stock market. It's been amazing.
@@MarkFreeman-xi3rk You seem to be doing a bit good for yourself. Do you achieve this via a consultant? because I need a scheme to generate a high yield percentage ROI for me and advise on what that would be. In essence, good investments that'll help me achieve FIRE.
Oh yes I definitely use a licensed consultant Margaret Johnson Arndt She places a sizable portion of my capital in fixed securities that generate high income for me quarterly like treasury bills, corporate bonds, government securities, and debentures & REITs.
Thanks for sharing this! I looked up the lady you mentioned, and let me tell you, after going through her resume, it's clear that she's a total pro. I sent her a message and now I'm just waiting for her to reply.
Most people don’t realise it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than 10k returns from his investment monthly and it was completely passive.
This is really amazing though. I'm curious as to how he did it. Was it real estate? Or he was a market enthusiast?
Not really. Approximately four years before to my dad's retirement, our family was introduced to a financial advisor. That was the catalyst for the transformation. I believe my retirement income would be on the right track because I've been using the same advisor.
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?
I'm hesitant to make recommendations like this online so I can't drop her contact here, but you could look her up yourself and contact her if you wish. Her name is *Sharon Louise Count.*
Becoming a millionaire through a Roth IRA or a 401(k) involves different strategies for maximizing profits. A Roth IRA offers tax-free withdrawals in retirement, which can be advantageous if you expect to be in a higher tax bracket later in life. On the other hand, a 401(k) provides tax-deferred growth and potential employer contributions, boosting your savings. The optimal choice depends on factors like your current and future tax situation, employer match, and investment options. Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
I wholeheartedly concur. At 60 years old and newly retired, my external retirement funds total around One million two hundred fifty thousand dollars.. With no debt and minimal retirement fund allocation relative to my portfolio's value over the last three years, I recognize the importance of a financial advisor. Neglecting them isn't an option; however, thorough research is vital to find a trustworthy fiduciary advisor.
@@Nernst96 This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
@@Nernst96 Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
My Financial adviser is ‘’'Natalie Lynn Fisk ’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
`This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within the short term but to execute such a strategy, you must be a skilled practitioner or be working with one.
@@JoeWilmoth-k2w I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.
@@BarbaraLouise-i3r How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@@MelindaMatsuda Victoria Carmen Santaella is the licensed advisor I use. Just search the name. You’ll find the necessary details to work with to set up an appointment.
@@BarbaraLouise-i3r Thank you for the lead. I searched for her, and I have sent her an email. I hope she gets back to me soon.
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Karen Leigh Owens is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Technically, He didn't retire. You left your old job for something better. Given the severity of the inflation and how worse it is predicted to get, retiring early might backfire. Real question will be; How to retire early and still maintain cash flow while doing minimal work, just as you did.
Practical approach; Spend only on necessities (save a whole lot), Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Can comfortably retire at this point.
@Kentucky Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.
@@thesportsguruu She's got a pretty decent bio and seems American. Does she work with foreigners?
@@biyuwang9952 I guess. I don't stay in the States myself. hahaha.
I sold 30,000 bitcoins I have been collecting since 2011 last year :)
this man didn't retire; he's a professional RUclipsr
exactly. not sure why they say he is retired. and 1 million in California is nothing.
retire means not having to work. you can live life on your own terms. I'm sure he enjoys yt as a hobby
This dude has some mental issues .
If you call creating videos for which total work put in is 8 WHOLE hours versus thr rest of us doing 40 or more hours, then I would call that quite retired.
@@jdthompson5778 not really he makes a ton on RUclips ads and affiliate programs. Plus he spends so little and paid off his house. Most of the foolish masses would feel sick to their stomach to live a very frugal life so will work 90% of their wake hours till 65 years old and think they will have their health to enjoy it thrn
It's pretty much what "The Millionaire Fast Lane" by MJ DeMarco teaches. It's hard to build great wealth from conventional advice.I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor. It's been almost six years now, and I'm a couple thousands shy of a million.
I think that is the problem most beginners have, particularly when they hear how some people got lucky off investing, on social media. Platforms that enable easy trading too, like Robinhood, don't make the situation any easier.
This is a pretty decent return despite the turbulent market over these past few years. Is there any chance you could recommend who your financial advisor is? I bet I could use some help. Thank you.
I have worked with a couple of financial advisors over the past few years. First started out with a guy that worked for Bridgewaters. Same wall street rippers. I then switched to an independent advisor, *Sharon Louise Count,* and, I won't even deny it, she's been really extraordinary.
Thank you very much for this, man. I'm gonna check her out right away.
Good for him BUT can we please see less of RUclipsrs being featured? How do people who do not have the luck to have a successful RUclips channel can make it? We need more of these…! PLEASE
Right. It's a little disheartening to think we all have to be social media entrepreneurs to retire early/gain financial independence
@@callous21 very much so. And it seems CNBC is pushing the agenda.
Having a successful RUclips Channel isn't luck. It's actually hardwork. Alot of it you won't see happening infront of the camera
@@JoTheTechie it’s a combination of both luck and hard work. There are tons of stories out there of RUclipsrs who never make it even though they work hard. The luck comes in having content that the algorithm picks up.
@@everydayedgar5782 thanks ! You the goat! I know some people who started a channel nearly ten years ago and consistently post but do not make it through the algorithm compared to some who started three four years ago and already are millionaires. Hard work pays off but in the digital world, may the luck 🍀 be with you.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@helenoliver4838 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@danieljamal3709 *PRISCILLA DIANE AIVAZIAN* . look her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
@@helenoliver4838 Thank you so much! Found her webpage and left a message. Hopefully, she responds.
You said it all. It's hard to predict the future, but one thing you can always rely upon is human GREED. Once stocks start rising again, people are going to think back and kick themselves and ask why they weren't willing to buy things at a 60-80% discount. Interesting I'm also a subscriber of *PRISCILLA DIANE AIVAZIAN* signals and if I were to rate her accuracy, I would say perfect 👌
The man did not retire early. He just changed career tracks. I'm glad we he's doing something he enjoys more. But let's not throw around the phrase for everyone that just gets a better job
yea CNBC is stretching with these videos now. its kinda cringe
That’s retiring..most the retirees I know, end up working a job anyways.
He retired from corporate America which is huge in that most depend on their jobs to live their life.
@@donsterr retiring is when you no longer have to earn income to live. Zero. You could still work if you want to, but no need. If you need to earn additional income to live, you just swapped jobs. Not throwing shade, but there's a reason that a whole separate category called CoastFire exists
@@Melorto6969man 1.2 million is more than enough to retire yall stop the bs i left my job with 250k years ago haha
Nice video. But he technically didn't retire from work early. He just quite his corporate job to start his own business (youtube). Everyone can potentially do this if they have their own business that brings in good income. What will be amazing to see is an average Joe who worked a normal corporate job and truly retired early via FIRE.
I mean $1.2 million is more than enough to retire outside of california
that's impossible for someone to work in the corporate world and be able to retire completely as a young person. I'm an engineer just like Francis and paid off my house and have been maxing my retirement for 10 years in growth funds. I have also been saving roughly $1500 per month because my working income was never as high as Francis (not even close). Unlike Francis, my house only appreciated 15% since I bought it 15 years ago. Having no wife, no kids, and not living in excess, I still won't be able to retire until my early 50s and live off liquid savings until I'm 59.5 years old when I have access to my retirement accounts (401k and Roth). With no RUclips income.
@@dachicagoan8185 1500 a month isn’t that much. Saying it’s impossible just because you’re not able to save a lot doesn’t make sense
@@WhatIsThis-zq4hk 1500 isn't a lot. But over a 12 year period it will be. Also, I meant to say early retirement (before 40s) is impossible for someone in my situation. Especially without RUclips income.
@@dachicagoan8185 I think someone in your situation can retire early. I was able to reach FIRE before my 40th birthday on an average income of $60K/year. It is possible if you have the right strategy and mindset. Most people won't be able to retirement early working a corporate job not because they can't, but because they don't believe they have what it takes.
The first step to realizing your higher potential is to believe that you can. Once you know your why, the how will come naturally. Different people will have their own unique ways to get there. For me it was building wealth through investing. No matter the path, the concept is always the same. Take ownership. I believe you can do it. Good luck.👍
The dude's net worth is basically just his house at 1.8M$. And that was due to appreciation, not saving. He should have saved much more working as an engineer for 10 years.
Either he put all his money in his home and it's paid off or they're not including it in his networth. It doesn't seem plausible to me to save the way he says he saves and only have $200,000 liquid.
In anycase his youtube channel essentially replaced his income. I rather do that than work a 9 to 5 for 10 more years.
He does not have kids either. I probably spent over 1 million raising my two children. Private school, food, clothes, tutoring,swimming lessons, martial arts, vacations, basketball, tennis, golf, biking, cell phones, iPads, etc... I am a little older than him with a net worth over double what he has. I feel as though I am living pay check to pay check. The Bay Area is an expensive place to live in. I will retire when I reach $6 million. My wife and I both switched to working part time this year. We each work three days a week and both have six figure salaries.
Lmao, this is one of the inside jokes on his channel. Everyone always says " why didn't you work just one more year ", so he has made several videos in which he casually addresses this question.
Networth does not include the value of primary residence
The Brother paid off his home, has a side hustle that he enjoys, and has not debt........ENOUGH SAID!!!!!!!!!!!!!
I'm a very concentrated investor but sometimes there is value in adding a small new position. It isn't for diversification. Focusing on something new provides a productive distraction from overthinking what you already own. It allows you and your portfolio to breathe a little bit..
Super excited about the next bull run, I’ve increased my buying again since stocks have been on sale, but I’d really love to know how to use this recession to my advantage, I'm aware a good lot are making a fortune right now and I’d love to do the same.
@@legilooks, I have 55k in a well-diversified portfolio in stock and digital assets which have grown by 3x in the past 7 months with compounding, venturing doesn’t necessarily boil down to funds but you also have to be informed, be patient, and back it up with good guidance.>
@@philipvincent3342 wow!!! how are you able to achieve all that given that the market has been a mess most of the year?
@@charlestancred6181, CINTRA V. BEDASSIE looks her up with her name on the internet, that’s the financial advisor I use. She’s verified and you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.>
@@philipvincent3342 Thank you. i found her webpage and left her a message already.
I'm glad to hear that he is a little less frugal than he used to be. It's hard to watch when people figure out how to make a ton of money, and then they don't know how to enjoy it at all. It sometimes seems like a waste.
I don't think he is a hedonist, just by looking at him we can tell that. He probably gets pleasure out of being austere and thrifty, some people have this psychological trait. Asians have competitive tendencies also, another factor and the motor behind his actions. We can survive on very little, we can live on a lot and have a better life quality, the only thing that is finite is time, that is something no one can get, which is actually great. Everyone has his way of being, accepting that is the real challenge.
There is more to life than spending money?may be? Ever thought of that?
@Laina Brown-Money at Home, when you've become accustomed to saving all your life (and become rich because of it), it practically becomes a game to continue challenging yourself on finding ways to save more. It's not a waste at all. It gets to the point that you have enough to share it by giving it away to random ppl & charities. It's not a waste at all.
his definition of enjoyment may not be the same as yours or require spending much money
based on what he said, the most expensive activity he does is travel, but when planned properly that doesn't have to be particularly expensive
And then they meet you...
“How’s it going everybody this is beatthebush”
Good to see the one and only OG, Francis being featured. 🥳
Retired with a 7 figure portfolio and Receiving about $53k in dividends. I have been in the Stock market about 20 years. Am I worried? Am I selling? Absolutely not. I have purchased growth stocks too a little at a time over the past few weeks. I am going to sit back and observe how this all plays out, adding more at a time. my investment strategy actually calms me down. Eye on the prize, stay the course!
Dividend investing is great, just be patient. I went from making enough passively to pay for my netflix and hulu to now making enough to cover half of my mortgage. Not commenting this to brag, just to give hope to anyone who is discouraged by tiny gains in the beginning.
Recently I got into the financial niche, and I’ve taken a deep dive into investing, particularly dividend growth investment as it interests me. hoping to get to your level someday.
Love ❤️ it when i see my fellow individuals excelling. I'm also on my way to the millionaire's club from investing in stocks. It's exciting watching your wealth grow. Good luck to us both.
Wow what stocks do you have? I have MSFT NVDA AAPL TSM QCOM but dividend % is so low
@@LegolasD The stock market has plenty of opportunities to earn which I myself took advantage of.. I made my first million from going diverse, mainly ETFs(stocks, bonds etc), coins, and gold. I'm also working on an investment plan that includes NFTs with my advisor, Rosemary Carlson. It's been a year and half of steady growth...
One of my favorite RUclipsrs. Nice to see him make it in the Bay Area and still living here to this day. Shows that a lot is possible if you’re willing to be abnormal, consume less, invest more, and always find a way to get to your goals. It sounds impossible but he’s living proof. Many people make way more than he does but are nowhere near this. It’s a matter of how much you keep vs how much you make.
“ abnormal “
@@donsterr abormal meaning to quote Dave Ramsey. “Don’t be normal. Normal is broke.” Clarifying that typical behaviors of most people perpetually work against them and whatever financial goals they have. They lack the will, acumen, knowledge, or even desire to better their financial health.
I found Francis after I purchased my Tesla Performance. He made a few videos about the car. I stayed for the finance videos.
@Death Of Time well since I follow him on RUclips his family is there. You can’t always pick where your family raises you and decides to stay in. The problems you speak of exist in many major cities across the US. But he actually lives in Fremont which is suburb over an hour drive from SF and half an hour or so to San Jose.
If someone can afford to live somewhere where they’ve resided for a majority of their life, where much of their family and friends still reside in, it’s really a strange thing to have it be a marker of someone’s intelligence.
Many people grow up and see their neighborhoods and cities change around them. But they stay because their roots are there and they can afford it regardless of how unaffordable it is to people in other cities or states.
@Death Of Time being the penny pincher he is, he really live anywhere in the world and be fine if it’s a question of dollars and cents. He doesn’t have a high burn rate. So wherever he chooses to live with his habits and wealth is dependent on what’s important to him in terms of proximity or amenities and or family/friends.
The states you mentioned aren’t as comparable in terms of people density, economies, jobs, etc. Politics is a whole thing too which take the focus away from this video/story on how he’s found success. You squish a lot of people in major cities and problems will come.
Boise Idaho has been in number of headlines for housing market with remote workers driving up prices. Though it may not have the crime and homelessness compared to major cities or states it does have the problem of quickly rising housing costs that price local people out. Is Boise a representation of its state? Hardly.
Yet somehow the Bay Area is a representation of its states problems to people outside of California.
Ive been working for years without being able to save to invest largely because I have to take care of my mom who is too old to work and my brother who refuses to work. I envy those who work and not having to care for anyone. Youre in luck without being aware of it.
Have you heard of the infinite banking concept. It might be a way for you to start on a savings journey and then soon having a foundation off of which to invest.
That was me up until this year.
You got this
Kick your brother out.
I understand your taking care of your mother, but your brother needs to stand on his own two feet.
@@lotto5742 just using the finite resources his brother is providing. Pathetic.
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
His trade execution quality and profiting is well structured with great financial features.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Good good content.
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
I've seen so many review about this man called Romero pieto who is he ?
Early retirement = optionality. It’s the freedom to do what you want, and try new ventures in a stable condition.
No disrespect for his achievement but $1.2M is nothing but a modest home in much of California, $2M is great at his age but he's going to have to continue to grow it.
Exactly
$1.2M is nothing ??LOL,if i have $1.2M million us dollars I would no longer work in Portugal where I live. I am 32 years old and with this money I would enjoy the rest of my life without problems like a king!!Here in europe in many countries you you can live like a king with $1.2M us dollars!Ok maybe in USA $1.2M is nothing because the quality of life in usa is far superior to the rest of europe not to mention the uk, france and germany!!But for example here in Portugal with $1.2M i can buy 6 good houses in Lisbon.
@@jkdfjufseytjreyj4003 Can't even read an entire sentence? As stated it's a modest home in much of California, I believe the one he owns is more than 1.2M and his net worth is 2M....excellent achievement at his age, I only reached that recently much older. But it's not 'wealthy', it's a decent retirement at 65 plus.
@@jkdfjufseytjreyj4003 His home alone is worth $1.8M. $1.2M is his liquid assets. Plus he earns RUclips income.
Am I the only one who doesn’t think this qualifies as “retired”?
He does it for fun, obviously. If you retire and golf all the time and make a RUclips channel, you're still retired lol. How about the people who retire and work part time because they need something to do?
The point of retirement is to do whatever you want without financial stress. I think he qualifies.
I’ve been watching BeatTheBush for years! Love how frugal he is and doesn’t let his wealth go to his head. So glad to see him featured on CNBC.
Is it as good as BeatTheMeat?
His channel is very informative and he is a nice humble person which is rare these days especially on the Internet
@@sko1beer 🤣
It was all good until he started with dogecoin
Respect ✊ Living frugally wasn’t always easy for everyone, but I guess sometimes you gotta sacrifice today for better tomorrow!
This is more like "semi-retired". Im the same way. 46 1.7m no debt and 17k month passive income. But I stilm work part time and have a business. Retired is "not working".
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I'll suggest you find a mentor or someone with experience to guide you especially in this recession.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
Sure, the inv-coach that guides me is CHRISTINE ANN PODGORNY, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her!!
Christine really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Being broke is hard. Being successful is hard. You just have to pick which one might get you closer to your goals. Perspective is everything.
Being broke is easy- go on a spending spree, gambling, party and lay around depending on unemployment and so on. Being successful is hard because it takes a lot of dedication, determination and hard work!
Just because you have your house paid off doesn't mean you can't be kicked out. If you fail to pay property taxes, you house could eventually be auctioned off.
The title should be "How I became a full time youtuber at 37 and fully paid off my mortgage". These clickbaity titles are very misleading and sets a unrealistic message.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@BrandonIvan-c6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Susan00197 Oh please I’d love that. Thanks!.
@@BrandonIvan-c6e Clementina Abate Russo is her name.
Lookup with her name on the webpage.
Came from humble beginnings and worked hard. Utmost respect from me.
I've been following Francis on RUclips for about a year now and I am happy to say that I will also be retiring soon.
Yeah it’s unfortunately taken me being SUPER broke to realize how little you actually need to live happily. I’m about to start a new lucrative career and I plan to continue to live like I’m broke except for going on trips maybe yearly and going out with friends every now and then. I want to pay off all debts and save more than I spend a month.
I lost my mother at 23. I lost my father at 24. I inherited $2.5 million in assets and retired early at age 24. I invested in real estate owning 27 rental units and my net worth at age 31 is $4.2 million
blssed
@@NinjaStealsBike man lost both of his parents at 24, how is he blessed?
Sorry to hear about your parents. Good to know that you are investing.
@@siddharth19941 because his family blessed him with the inherited, some people i know die and left them with a big debt, thats a burden
@@NinjaStealsBike your argument may not be wrong, but that's like saying, "ohh he may have lost his legs but atleast he has a wheelchair. Like what if, he didnt have a wheelchair"
Very cool to see someone who generates wealth all by himself and did not depend on some rich parents. That gives me hopes 🙏
I grew up on welfare as a child and became a multimillionaire. I started working in middle school.
@@mocheen4837 that’s amazing! I would like to know how did you achieve that? Do you mind telling me how you old were you when you stopped working for others? I was an orphan got adopted at 15 by a parent with master’s degree. I got my engineer degree and still pretty broke after working as an engineer. Colleges really don’t make us gain financial independence. Looking for other paths to achieve financial independence.
I have a rich dad. No poor dad here.
After studying the trajectory of great assets like real estate, dividend paying stocks of blue chip companies, gold, etc. my conclusion is that most great assets never come down to the price that you want them to so you can buy. Just buy the ones you can afford today.
I’m 28 and I’m just saving as much as I can. I’m patiently waiting to buy the real estate dip!
@@instinctively_awesome8283Getting investment guides from Stephanie Priscilla Bonillo who guides through the market made me avoid a lot of rookie mistakes. I decided to seek guidance while I improve my trading skills and investment strategies. The experience has been a smooth ride and i am going slow for now
@@chris-pj7rkHow do I reach her, you got any possible means of getting more info on her services?
@@viviangall1786Look up with her name on the web, you will find everything you need to know about her services.
Being retired is very subjective. I live like Im retired and spend my salary like I’m retired while also saving enough for my actual retirement. I think people mistaken what retirement is. If you don’t enjoy your life now, nothing much will change after retirement. You can’t just wake up after retirement and enjoy spending money on things. I may not be frugal and save as much as this guy but I live without debt, so that’s how I define saving.
I love this dude's channel. He saves money but he's not a jerk about it.
Having an older sister is a cheat code no one talks about. I know I’ve given my younger brother a huge head start.
Most humble big sister.
Jk jk
I am truly addicted to this show man.
If I was in this position, I think I would probably leave my full time job 3-6 months from the date I knew I could retire. I'd take a 2-3 year sabbatical to travel the world, but I think I'd want to work again personally. People just want a fresh start and different way to look at the world after doing things 'one way' for so long. There are people who want or push the title 'VP' or 'partner' more than they want the ability to live like a 'VP' or 'partner' for the rest of their lives. I can't do that--I care way less about the titles and more about the experience and actually becoming a successful entrepeneur. I can't fathom working 60-70-80 hour work weeks with no breaks. There's a fine line. The ending of this video sums it up perfectly....people just want to be able to take a break whenever they want.
Technically RUclipsrs are entrepreneurs. Did you not hear him mention RUclips has replaced his engineering salary.
I was working an average of 60 hours per week. I just changed positions at work to part time and working from home. My wife and I both work 3 days a week. We both have six figure incomes and max our retirement accounts. We are able to spend more time with family and travel. We have full benefits and seven weeks of vacation.it is still rough living in the Bay Area, because everything is so expensive.
Nice to see Francis and Fremont on this channel!
This is a classic example anyone with a determined mindset can achieve this! :)
People who are successful and smart enough to retire early CANT retire early. That intuition, brains, diligence generally doesn’t go to waste and they just pursue something better. You’ll never see these people sitting at home.
I have a friend who has a wealth value of over $100M and still growing but still works very hard coz he enjoys it and he helps so many people to have jobs and earn for their families.so that is his meaning and purpose in life....duties and responsibilities to others not only to yourself you focus in your lifetime.
is he single and want to marry and have kids
What does he do for work??
One of my favorite RUclipsrs!
I used to watch his channel, and I often wondered how much his networth was, now I know. I tried following his budget, and seriously it was impossible, and I live in a very modest area; in the North. I am older than he is & even with the perks that seniors have; I could not live on his budget, and my family thinks I'm frugal.
He really didn't retire, he just switched his employment status. Unlike him, I'm truly retired.
Ms. B. Churchill
I watch BTB all the time!!!
You go Francis!!!
Clicked so fast! Been watching him for years. Congrats Francis 🎉
I'm a content creator myself and this is so inspiring. Glad things are working out in your favor and you are enjoying every step of it.
Who isn't a content creator these days
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
Is there anything like proof recession stock? I am 58 years and would like help in managing my retirement portfolio which is currently $1.25M...down from a high of $1.67M….
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
mind if i ask you to recommend this particular coach ?
I work with Sonya Lee Mitchell who is a licensed fiduciary. Just look up the name. All the information you need to work with a letter to set up an appointment is included.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Retire with $1.2M in NorCal? Maybe just for a single person who is extremely frugal.
Many others have a family to support here in the Bay area.
FRANCIS!!! So exciting to see you on here!
Great example of how *being frugal* can really pay off later on in life! 🙌
payed off living a lonely life
@@jleau89 Exactly, nothing about his life is appealing to me. Life is about more than money.
@@alp.9672 thats why the saying goes everybody wanna rich but nobody wanna work to get there
@@jaystackz3425 You can't be wavy being frugal . I rather be a boss don like biggaveli
@@jleau89 Divorce rates are close to 50%. I would rather be rich and single than broke and divorced.
Iam retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent .
I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts .
He can also sell his home and live somewhere cheaper literally anywhere outside California lol
He would be stupid to sell his home, rent it out
I just started watching these and love em! Keep bringing em! Also the more transparency the better... we all have hardships so lets hear em!
Traveling the world is one of the biggest motivators on my FIRE journey too. So cool getting to see the "Retire-Early" portion being optional, and the FI component really just freeing you up to focus on doing what you love. 🔥
*LET'S GOOOOOO*
He seems so nice and normal. Good for him.
If you’re watching this, I pray everything works out for you! ~❤️Nat
Amen
Congratulations beatthebush from your subbie here on RUclips.
Really cool to see Francis on here. Seems like he’s finally speaking out on his journey in other channels (Graham Stephan’s ice coffee hour and now Cnbc)
I am happy to an asian , not busting out health working in tech , but leading a simple minimalistic and happy life , it motivates me .
@@zackcarl7861 what do you mean..to BE an Asian to SEE an Asian, leaving out a word is important as I said before, proof man, proof what you write.
I’m a fan of Francis RUclips channel. He is great at budgeting and being frugal! He has done great by investing his money in the stock market and making sure to own his home.
Double up on jobs
Marriage to someone similar
Babies and buy a house in cash ASAP
Mom is birthing nursing and parenting
Dad is still getting earned income until unearned income exceeds living expenses of groceries and housing costs
Then can choose between working parenting and hobbies
Much respect to Francis, I’m definitely going to subscribe to his channel. I’m not a FIRE movement fanatic but I understand the intent behind why the younger generations are doing it and I give kudos to the ones who achieve it. In the end of the day @6:44 he summed up how many people of the younger generation feel and he is correct.
This scares the big corporations and big government institutions as it means less wage "slaves" to keep burning out.
do you have a link to his channel?
Self employed people aren't "retired". They're simply running a small business.
Bitcoin is been endorsed by more and more billionaires, banks and institutional investors every month.
what's the point of BTC, if they can create mechanisms to manipulate the price the same way as any other asset? The big hypocrisy here is BTC is cheered on as an alternative to fiat, yet the same people turn around cheer institutions coming onto the scene as well. The result is again, an unfairly priced and manipulated asset, seems like we're going right back to square 1.
@Gregory Feigenberg I'd say invest in good
@@chris-pj7rk Found her webpage and left a message, hopefully she replies soon.
well, i am frugal to a point that i buy expiring food, never took a cab for many years and would even eat food that has turned bad. eventually, it comes to a point for me to realize that money is nothing if you end up being dead the next day; you don't have the time to spend and enjoy it. The goal is not to make all the $ in the world, but rather to establish financial independence where your asset can generate passive income enough for you to live a high quality life, not to live like a beggar. So i learn to love myself and not to be so harsh on myself moving forward..
respect his hustle and willingness to just be gritty and get to a point where he's living life on his own terms. I remember when I learned about FIRE...it was kinda like a red pill vs blue pill moment. Some positives to learning about it and negatives but if I go back...I'd still choose the red pill.
Congratulations Francis! You inspire me! 👍
Can you guys find someone who's actually retired early and not using content creation to subsidize their lives? This guy isn't retired if he earns $12,000 a month uploading videos and getting people to click his links. Every time you post a FIRE video, the subject simply traded their job for something that paid more.
People who retired early and don’t do anything exist but are rare to see. If they are not online posting how would anyone find them.
Besides being a few years younger, Francis is basically me. He lives just a few miles north.
I reached his stats about a decade earlier but no way I can fully retire. With a family to watch over, I can’t just take off like he does.
I’ve always worked for myself, so there’s not the same urge to retire. If I wanted, I could chill for 3-6 months and live on my passive income, which is way more than his RUclips earnings.
For some reason I never hear about guys with wife and children doing FIRE…?
Check out the RUclips channel called Our Rich Journey. They have two children, and retired at 39 and 41, and they had government jobs.
They exist, you just have to change up your algorithm and find these families.
If I did the math on what it cost me to send my kids to college and all the other costs associated with bringing up kids, there is almost no way anyone is thinking retirement with all the other costs around mortgage and living expenses. Are there a handful of exceptions featured on YT, sure, but the problem is when the Average Joe is sitting on his laptop thinking that a handful of people represent some huge population of ppl.
@@swisstrader I’m childless so take this as you will.
My parents didn’t pay for my college and It has made me resilient and resourceful. I’m not saying you shouldn’t support your kids entirely…If I have kids, the most I’d give them is about 20gs and say that’s all I have find your way. Encourage them to get scholarships or go to cheaper universities. If the college isn’t a life changing top 10 in the world type of school, or they aren’t trying to be doctors etc, don’t break your back. That said, there’s funds you can start building from when they are born to until when they turn 18.
Additionally, you have to look after you. The greatest gift you can give your kids is them not having to worry about you as you age out. They won’t have to come out of pocket for nurses etc. because you’ve sorted out that drama.
@@Clockwork_999 I have 2 crazy successful kids so I am truly blessed.
I’m doubly blessed because over the years I was able to help my kids pay for college, teach them right from wrong and be wired to be ethical people, know how to be financially independent and enjoy their lives.
Life is good!
BeatTheBush! Love the channel and this feature.
Amazing story! It reminds me of our story and how we were able to become millionaires at 35 and retire at 38 on a low income and 3 young children! WELL DONE!
Lottery? Options trading?
Lol, nice transition
@@callous21 It was a combination of paying off debt, saving up to 70% of our income, then investing in stock market and real estate.
I have two children and live in the Bay Area. We both work part time now and are enjoying our free time with the family. Hoping to make it through 2022’s recession. We need to work for 8 more years before we can retire.
@@mocheen4837 That's fantastic news! Stick with your plan and endure this 2022 volatility... hopefully the market will rebound soon! Let us know if you have any questions about FIRE, Financial Freedom, or Early Retirement. It would be great to compare notes. Have a great day!
Look how cool you were with your skater haircut. Been watching your channel for years. Congrats on getting this segment here
Cool to see RUclipsrs being featured. Been watching BeatTheBush for years
Same 💯💯
Actually , you can pay this channel to be featured.
Almost only RUclipsrs get featured
@@afr0flava because almost only them apply to be featured…
Interesting episode, good for him!!
Is he married or have a family? I don’t think people want to retire early. I think people want to have work life balance and a fulfilling career.!
Alone and sad
Keep thinking
Nah lol I want to retire early and aiming that. I want financial freedom and not have to work for anybody no matter how good the job or or how much they pay me.
That’s absolute freedom
A fulfilling career is what society brainwashed adults to do, so they can continue to slave for the CEO making the company rich.
He hasn't had fun or dates because he doesn't want to pay for anything
I wouldn't be here without BeatTheBush - mad respect for this to happen 🔥🔥🔥
I like that Charlie quote in the beginning 💯✊
oh lovely instant profit All the advice you give pertaining to being a self-made business woman/man, is so VALUABLE. Truly, ty for everything you're doing to help motivate and inspire the rest of us. You have a heart of gold girl and I appreciate you! Just subbed!
I am 42 and I have 1.23 millions net worth and I also live in California. However, I don't think it is a good idea to retire (in California) with only 1.2 millions. In order to live a comfortable and really worry-free retired life in California and if you are married, one needs at least 2.9 millions net worth for the both to be retiring in California. That is provided the house mortgage has been totally paid off, and the two of you can put at least 1.5 millions in REITs with stable 5% annual payouts (or, $75,000 usd) so that, before tax, you and your retired wife can both have roughly $6,250 disposable capital per month. Food, energy, fuel prices are all going up, if you are not married and have 1.2 millions net worth or liquid asset, you may still live your life normally. However, for married couples, 2.9 millions liquid asset plus net worth is the bare minimum. You gonna have to visit doctors more often as you age too. Therefore, I have 1.5 millions in REITs with 5% annual payout, and 1.4 millions in other investments and allocation for unexpected medical expenses, plus some allocated for annual trips too.
One thing that stands out is that he is single and doing this by himself. One thing about retiring early is that you miss out on lots of social interactions
@@P.90.603 If your only relationships are from people at work that sounds like a personal problem
I retired early as well. Cut down or even eliminate any reoccurring expenses. And build on reoccurring passive income. The only reoccurring expense I currently have cell phone + WiFi bill, insurance, but these are cost that helps me generate income over expenses. Even though my home is paid off, I still rent out the rooms for passive income with a net positive.
Well, if Francis has any sense, he’ll take the money and run (out of California). 💸
What would really be interesting is interviewing this dude again in the heart of a bear market to see how he manages the downturn. Since he didn't even discover FIRE until 2013, he hasn't really seen a complete cycle yet.
Mate, what can you do with 1.2m in California? That's like having $100 in New Delhi.
He had two million and his home, so 3.8ish. He can always move to a LCOL and he's still bringing in a lot in YT income so he isn't tapping into his savings or investments
When I was young, I negotiated with my parents to give me a monthly allowance. I used to spend it in a week or ten days. I borrowed from my younger sister without interest. She went to the very strict girl's only school as opposed to my affluent co-ed. She didn't have the need to spend money. I did repay her, or she didn't really care, if I did or not. That was very fortunate. No debt collector pursuing me. I realised our younger childhood relationship paid off. I always protected her and allowed her to tag me anywhere.
Retirement is wonderful if you have two essentials - much to live on and much to live for. Invest wisely and get good returns.
thank you, can you give a pointer the best investment now ? i am thinking of getting stocks or cryto
The key to making money in stocks is not to get scared out of them. An important key to investing is to remember that stocks are not lottery tickets. get a financial assistant
I currently work with TERESA JENSEN WHITE a financial expert i met in a seminar
I recently watched TERESA JENSEN WHITE on TV , such a great speaker . but have you made any profit whatsoever working with her ?
I have been able to make maximum profits off my trade with $40,000 and I have amassed about $190,000 in net profit In 4 weeks
$1.8 in Fremont is a 3bed 2 bath 1300-1500ish sq ft starter home😐
1 million in California is not enough to live on for very long
I was looking for this comment
He could relocate to a cheaper state. But Cali is expensive
Actually you can get by in CA on a low income. There are food banks (am eligible for senior pantry) and it's easy to get social living benefits, (they take your annual income NOT assets for determination) like EBT, Medi-Cal (now Med-care,) Lifeline phones, Sec. 8 housing etc,. subsidized utilities. Entertainment can be free with good weather, outdoor activities, bike riding, kayaking, have a rubber raft so go boating, walking, many free festivals, lots of places to go and see free music (but I always buy food or something to drink) if not an outdoor concert and in L.A. can see semi-famous bands, watch movies from library or cheap streaming services, not sure in other states but here in L.A. every time Dodgers win, you get free pizza from CPK. Don't have a car but L.A. (despite popular stereotype) has many public transportation options, as a senior get my cities taxi-ride program, for every $1 I pay get $13 in taxi credit. I retired at 62 so only get $550 in S.S. check (always had low paid service type jobs, easiest jobs to get) but put 200K in an annuity and get $1k a month for LIFE, my condo is paid off, and can even travel, Amtrak USA pass on sale and cheap cruises 30 day South Africa to England starting at $999 (this was during Ebola when people were paranoid about it but always bargains to be had) but since can live on $1k a month am able to budget $6K a year on travel and do NOT feel deprived, but AM single and childless.
He has 24 credit cards.. it’s almost like a whole deck of Pokémon cards 😂😂😂 I choose you this credit card 😁
Lol He probably just actively use like 3 cards- the Pikachu and whatever other Pokémons that is the most chosen. I have like 10 but only use 3 since each card have different cash back or point rates for different categories of spending to maximize the return. The other cards, I just use it once a year to keep it alive so my credit score don’t get hit by closed card.
To me retirement just means the freedom to do what I want and not have to worry about a check coming in
This video is mislabeled, he’s not retired he just quite a corporate job and went independent. Appreciate his story but don’t appreciate the mislabeling by CNBC.
So basically to achieve FIRE, it helps to be a RUclipsr.
Not necessarily. You have to be a determined individual who will find a way to become successful. It just so happens that this was Francis' way. Don't knock YTbers down just because they're featured.
差不多吧