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How I Save 80% of My Income | Financial Independence
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- Опубликовано: 16 янв 2022
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Steve Antonioni is not a financial advisor and nothing in this video should be construed as investment advice.
I used to save every penny and in turn wasnt living a fullfilled life. I turned down concerts with friends, bars and never bought anything for myself. I always said "but when i retire at 50 itll all be worth it!" Until one of my friends said, "what if you get hit by a bus at 49?" Yup, that hit me. Now I save much less but im enjoying every second of my life
Smart. I just turned 50 and used to say the same thing and now I can't retire even though I saved my entire life for it. It's a deception and one of the biggest lies there is in society. If I could do it all again I would never put a penny in a 401k.
Tomorrow isn’t promised to anyone
A lot of you are just living to retire in order to be “financially independent”… that ain’t it
Well its not for anyone, it is just inspration
Great comment. For me it was COVID and 2020 in general, seeing all these people dying. Funny thing: I now live my life and my net worth has skyrocketed.
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see
They said opportunity comes but once and I regret being nonchalant when I first heard about Bitcoin. I saved the cash and now the dollar is almost worthless. I Have $300k lying around to invest with little or no knowledge on how to navigate this.
well the crypto market is expected to do way better than any other equity sectors this 2024 especially with the SEC crypto ETF approval but it’s a volatile market nevertheless and if you’re new to it, it’s best to reach out to an experienced adviser for proper guidance.
Yes, my asset manager advised I spread further into mutual funds and crypto Etf and boy am I glad I did. The whole idea is: Don’t get too greedy and also to exit at the right time, so generally I do find having an adviser very helpful, because what Avg. Joe really has time to watch and comprehensively analyse the market.
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 just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
I have been investing in stocks for over 10 years now and I have made a lot of money. My portfolio has grown exponentially and I can't thank stocks and *ROCHELLE DUNGCA-SCHREIBER* enough for such an amazing way to make money!
Talking about success, I know I am blessed if not I wouldn't have met someone who is as spectacular as *ROCHELLE DUNGCA-SCHREIBER*
Oh- Yes!! I'm a living testimony of her good work . Her dexterity in trades is second to none .. *ROCHELLE DUNGCA-SCHREIBER* will forever remain an elite in the game, in my books ✍
God bless you
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
@@ThomasChai05 That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
"Camille Alicia Garcia" maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Moral of the story - You need a high income to save this much and still live. That comes by building skills, being educated and creating value for others.
and living in a first world country or being from a wealthy family in a poor country
Facts.
@@juchuva o primeiro salário dele já é completamente fora da realidade brasileira, ent foi um vídeo em que infelizmente, não vou conseguir por em prática ahsuashaus
@@kaylanseilaoq4601 I feel you, I am also from South America, and saving $600 a month would be very very good, like having a high paying job, and this guy did it with a slightly bigger than the minimum wage in his country, crazy
The lesson here is to increase your income to 3 times average, while keeping expenditure at average levels.
👍👍
Let’s not forget that the biggest payouts in the markets don’t come from great performances but rather it’s great promotions. Stay invested, diversification for streams of incomes is very important
It’s the start of a new year and the non - investing public should really pay attention to the markets cause there’s no better time to invest than this period, I’m speaking from experience. I just dropped some cash in crypto too
Leaving it in investments rather than my bank accounts is one decision I’ll never regret, over the years I’ve accumulated tons of wealth from proper investments in Bitcoin, non-fungible tokens (NFTs) and stocks. Currently I plan on maximizing my gains and growing my portfolio even bigger
Be it a crash or rise the financial markets will always have lucrative means for folks to earn decent payouts. I’m just being inquisitive? how are you yielding gains
I’ll take investments in stocks any day they’re very remunerative only problem I’m having is I really don’t know how to go about it, I do get lost and overwhelmed by the markets. any solid pointers would be helpful, I’d appreciate if I got a reply
In general knowledge without experience, in the markets indeed can become very inundating, since the pandemic till today I don’t rely on full time jobs for money cause my expert Vivian Klaine Morgan actually pay off and I’m passively earning incomes. system has kept my portfolio elevated and healthy.
I realized that the secret to making a million is making better investment. I always tell myself you don't need that new Car or that vacation just yet and that mindset helps me make more money invest:ng. For example last year I invested 70k in blue chip stocks and crypt0 s (with the help of my advisor of course) and made about 380k, but guess what? I put it back and traded with her again and now I'm rounding up close to a million. Delayed gratification always pays off
@Stacy White I found her on a CNBC market interview, so I looked her up and we begun our awesome partnership
@Stacy White .You can connect with her on what'saap
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Financial planning and budgeting is 80% behaviour and 20% knowledge, it all depends on our attitude toward money. Like the video say it's important we have a budgeting plan or pattern, I have been using 50/30/20 for a few years now and it's helped me save a lot.
Funny thing about money it doesn’t stay, how do you budget using these pattern you mentioned?
@@aryanmalhotra4520 its a 50% expenses, 30% investing and 20% savings. I try to spend less which has created more room for investing.
My budgeting is bad, I manage to save just 5% and no investing because I don’t earn much.
@@ethelbertjohn3845 you have certainly done well for yourself, if I may ask what are you invested in? I manage to safe just 10% due to my families expenses.
Saving is just a tool it doesn’t get you wealthy, you need to invest savings into cash generating businesses or portfolio in my case that would work towards further wealth creation. Currently I have a well diversified one which includes dividend stocks, ETFs and other growing stocks.
There was a maintenance man at my old factory job that worked there for 30 years putting most of his income into retirement plans as the company matched every dollar contributed. This man Greg had a heart attack at 54 years old 1 year before he was set to retire. And was never able to retire after working his whole life!!
That’s so freaking sad 😢
Your savings rate only went up when your income went up. You deserve kudos for not letting lifestyle creep set in, but this is still an important point.
The key is to always and relentlessly focus on increasing your income, I got tied up for 4 years making £22k, £24,k £24.5,k £25k (all gross income) roughly £19k after taxes and saving 80% £15k ish a year. It was by about year 2-3 I realised it was never going to work, after commuting expenses I was spending only around £1-2k on myself each year (was living with my parents). It was no life.
I have since taught myself programming and have almost tripled my income just two years on. Now I can save much more than before and still have a life outside of work. Focus on improving your earnings potential not saving £5 a week by getting reduced food etc.
That’s great Nomad! Can I ask what kind of programming you specialize in? I’ve considered the same thing myself. I am a computer nut, but sadly I’m stuck in warehouse work. I’m trying to escape that.
That's essentially it, you'll never be rich by saving £1 here and £5 there. The goal should be too make your income so high that spending £5 on a drink no longer makes a dent on your goals.
Of course, all those £5 drinks do add up over time, and too many will put a dent in most plans except for those earning a few grand a day, not few grand a month.
You are correct. If your money starts earning more than you it is very demotivating. Best way to conquer this as an extreme saver is to keep earning more
I agree with this. You can only save so much. Focus on increasing revenue instead of cutting costs (too much). I work as a data analyst as well, might make a video about this one in the future.
Key to what?
Pro financial tip. Don't buy into the idea that you have to spend 30% of income on rent. Don't just search for apartments to rent online. There are many other options available for you and if you wait patiently you can always catch highly cheap, affordable rent. If you're willing, finding a roommate can be a good, long-term strategy; I currently pay less than half the price of the average monthly rent in my area
This video is so well executed. The storytelling and visuals in this video are fantastic. It's no wonder this channel has done so well.
I think a healthy mental excercise is to think of all the things we do in life that we enjoy that we would not stop doing if we won the lottery or were financially independent. For me that is spending time with family, reading, watching sports, listening to music, going to the gym, going for walks outside etc. Its important to highlight those activities on the Journey because you can strive for financial independence and simultaneously enjoy life now. Cheers on your success.
This!
yes! this is beautiful.. it's making music for me. spending time with loved ones, writing, painting and create some art. thank you for sharing 😊
Your story never gets old to me.
We have two kids, which makes things more tight, but we're slowly, very slowly, finally rolling that ball. Thanks for the inspo
One way or another we will get there!
Hey, with a family like that, you're already rich :)
@@steveantonioni you're ABSOLUTELY right. There are my precious treasure, and I tell them that constantly.
Nevertheless, I don't want to be eating dog food when I retire, so 😅
I just had my first kid almost 0.5 years ago. I understand now how much extra time kids take but I know it's doable. Keep it up no matter what stage you are :)
It’s amazing what free things are just as fun with kids. We find that out every time we choose to do something, a lot of joy comes from just going to the park or beach and exploring. Our kids show us that at it doesn’t take money to make memories or make you happy, it can happen in the everyday!
My plan right out of high school is to live very minimalistic. Only sector I’ll spend extra money on is health for a gym membership, PT equipment and good food. Gonna cut out all distractions and focus on my trading and passive income side hustles
How old are you man? I’ve been getting started the very thing you are doing (I dropped out and started working when I was like 15 or 16 so I have some money saved up. Only problem for me is I’m the only 18y/o in my family that’s this focused.
@@steadycreeping8508 good for you, I just turned 18 so I’ll graduate in the spring/summer. I don’t have much money though, I have about $1000 in my trading account and I still haven’t gotten the ball rolling yet with ecommerce and affiliate marketing. But people like you an I have a good head start with this mind set at our age
ruclips.net/video/tmeCWULSTHc/видео.html Study this like your life depends on it, you won't regret it.
Good plan
@@methoscapital570 thanks
I'm from Sudbury, live in Toronto, and really, really, really want to quit my high-paying corporate job and make the leap. Thanks for the inspiration. Also, I love that even amongst all the FI content on RUclips, yours is more cerebral, thoughtful, calmer, slower paced, more mindful. You speak intentionally and slowly, with clarity and honesty. I really like that. Can't wait to see more man.
I’m from the slums of Calcutta I really want to live a neurotic hipster lifestyle like yours.
How does one get a high paying corporate job? I need a career change
My two cents is I blew all my income in my teens and twenties, living beyond my means, didn't save a penny but had a really great time. I'm paying the price now, as reality has set in, and while my peers are buying houses and nice cars, I'm stuck renting with no assets to my name, living paycheck to paycheck. I've dedicated the next 5 years to living frugally and minimally while I sort my finances out. I'm now living well within my means, investing heavily and working on building some passive sources of income. Because of this, my life feels incredibly boring and dull compared to the lifestyle I used to live, but I'm hoping that my hardcore investing and all the time I'm putting into building other sources of income will seriously pay off over the next ten years and catch me up to my peers.
Me and my wife save 80% of our income but its because we have rental properties. We have very well paying careers but we only live on 40k a year as a family of 5. We even live amongst people who make way less than us. Our Lifestyle:
We live in a modest 1100sqft home
We drive cheap Japanese vehicles
Workout but now gym membership
We cook 95% of our meals
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Kathleen Chandler.
You trade with Kathleen Chandler too? Wow that woman has been a blessing to me and my family.
What impresses me most about Kathleen Chandler is how well she explains basic concept of winning before actually letting you use her trade signals. This goes a long way to ensure winning trades.
she's mostly on Telegrams, using the user name
fxchandler 💯 ..that's it
Great video. You can't take it with you when you're gone so no point in depriving yourself of things that make you happy!
I agree! But there needs to be a fine line between spending frivolously as in YOLO but think of your future self as well! My channel is all about financial freedom as well!
"Build the life you want and then save for it"
If you think things make you happy, you're already on the wrong path
You will be forever unhappy if things make you happy.
Live like nobody else, so that you can live like nobody else.
Everyone needs to find the right balance between spending and saving. Financial independence is not about money, it's about having the freedom to choose.
Financial independence is exactly about money, is in the name "Financial"
We make $42,000 a year, bringing home $2,200 monthly after health insurance, taxes, and 19% in retirement. We are working very hard at paying off our house in the next five years and only keep our bank savings at $20,000 (we do have $100,000 in stocks too). We are a single income family of 8, but have a lot of peace and happiness. We don’t necessarily have to do less, we just do it differently. We camp a lot in beautiful National Parks as vacations, hike lots, and cook everything at home. All which are healthier anyways.
A family of 8 on 42k?? Insane and impressive!!
I think, in last 3 days 100K in stocks became 80K in stocks
This doesn’t add up. At all
@@michaelmeathammer5688 I’m suspecting tax credits for the kiddos are included.
@@almondjoy112 of course. The breeder refund
Well done, awesome message and video! Overspend on the things you enjoy, but cut costs on things which aren’t really worth it. Knowing what makes you happy is crucial here. I recently bought also a second hand racing bike which was quite expensive, and I postponed it for a long time, but every time I sit on my bike I enjoy it. So, you could say I bought a lot of ‘’mini-happiness” moments. If you look at it that way then it is really worth it.
Impressive, I realized that the secret to making a million is saving for a better investment.. I always tell myself you don’t need that new BMW or that new Patek Philippe just yet and that mindset helps me make more money investing in the real market. For example last year I invested 100 grand in blue chip stocks (with the help of my advisor Rita Wildrin Mora of course) and made 450k, but guess what? I put it back and traded with her again and now I’m rounding up close to a million. Hoping to get to 2 In 6 months
Wow, great work. I hear it’s best to buy when stocks are on a decline, if that’s true how do financial advisors know the right stock to pick?
fibonacci sequence
Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. can you link me with your FA
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth. i like this
23 year old (second year) vet student in italy here trying to become one day like you and learning about financial independence. I hope I finish soon my degree and get a job that starts letting me have some decent income to be where you are one day. These things never get taught in school or in general and are so important.
It's a new year and I think it's the perfect time to set out the year's goals and my main goal this year is to gain FI. I need best ways to achieve my financial goal, I have 50k dollars sitting right in my bank account generating no income for me, I need good investment ideas, Please can someone share a long term investment ideas?
@Harvey Karl you're right, I think an investment advisor will be of so much help, how do I connect with Anna? I would really love to work with her.
@Harvey Karl I need proper coaching as well, I'm set out to start investing but really don't wanna make mistakes. Can you connect me with Anna Kristine?
@Harvey Karl will do that immediately, thanks a million!! God bless you
@Ariana Smith No one becomes a millionaire by working for others and depending on them, good investments yields millions of dollars and consistency yields more.
@Dennis Schulz Anna Kristine renders help to investment firms but her services to average individuals is actually very kind of her, her pays from the income of your investment goes to her charity foundation.
Just want to say something to people that want to save a lot. I personally used to save above 90% and at one point was burnt out. Like most things in life, i'd advise to make a financial plan which is easy to follow and don't spend too much or save too much - just follow a middle ground - that's it, congratulations you've unlocked a financially stable life.
Also try to better yourself and increase your income duh, this is more important than saving up like a scrooge.
This guy earns $10 and spends only $2, and keeps $8. Clearly someone isn’t paying taxes.
I’m a big fan of FIRE myself but that’s too much. Esp if you’re young you need to enjoy life. Later when your old you’re going to make more money… I have reached financial independence before 40 and also enjoyed the journey towards it. We need to value our time as mich if not more than money.
he does enjoy his life ….everyone has different thresholds ….do you
Saving 50% of income enables retirement in 17 years, while a 30% increase to 80% slashes the timeline to just 5 years, showcasing the non-linear nature of financial independence. Well done.
Building wealth involves developing good habits like
regularly putting money away in intervals for solid
investments. 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), crypto, and gold. I'm also
working on an investment plan that includes NFTs with
my advisor,Kelvin Maorgan. It's been a year and half
of steady growth.
How do I really invest in crypto and make huge profits , i'm actually confused here, can someone please help me out
@@terfastarik9698 As a newbie I'll advise you trade under the guidance of an expert so as to reduce chance of lose till you get a working strategy for yourself
@@terfastarik9698 crypto investment can be profitable and lucrative when it is approached as a business, but achieving a level of success is extremely difficult and can take a long time. It's a good idea to check the pros and cons of this form of investment prior to getting started with forex. As you can see, the crypto market is open and operates 24 hours a day and almost seven days a week.
@@ulysseslargay1933 how do I find a pro to guide me through
@@terfastarik9698 in crypto finding a pro isn't a problem
Reading about people grabbing multi-figures monthly as income in investments even in this crazy days in the market,any pointers on how to make substantial progress in earnings?would be appreciated
You have to have an idea on what you wanna invest in carefully before going in
You make it seem unreal to make up to that as a passive income annually,when it’s clearly possible
Access him through the tele gram page
Albertmathe is the name
This man right here,I tradr with him he’s inventive and the P.O.T are no jokes, I won’t look awestricken u made mention of him
Good work saving 80%. I feel like a slacker saving 64% in comparison. It was emotionally challenging selling my car and all of my furniture in Spring/Summer 2021, but I finally got over that point in my life and now own only a mattress and a computer desk. I remember though, on my 19th birthday, I said to my coworkers at the time, "I'm 19 years old. Finally time I can legally open an investment account in my own name." I went to the bank and opened a RRSP and TFSA just 2 days later, and while some years it does go down, over the long term it averages about a 7% increase year over year. My thought: If I do this for just 2 more years, I will have a 7-figure sum at retirement without ever saving another penny again, and can enjoy the rest of my life.
Yup if you can make more let's say 70k net after taxes a year and your cost of living with all expenses be on average $1,500 month then you can certainly be saving and investing 75%+. Definitely always need to strive to lower the big costs and make more to get there. Would be interested to see some one pull this off on $2,000 net a month.
*After a successful investment you have nothing to worry about, whether the rise and fall of economy or anything won't affect you, make your future brighter, by making good investment! Wondering if viewer's here are familiar with Mary trading strategy?*
All good investors are conversant with expert Mary. She's in the field just got to keep her instructions and you excel
Expert Mrs Mary has an intellectual strategy that cuts down losses, I have the best investing with the aid of Mary, she is very friendly and so easy to get along with in terms of signal and investing tips
An extraordinary is the right word for expert Mrs Mary, she's very experiences as a trader
and so unique
Expert Mrs Mary is the best. I've made a lot in forex trading through her helped.her success stories is written all over the globe
Forex trading is hard in the measure of commitment, dedication, patience and persistence. More you work with dedication for the long term, less hard become the forex trading.
Congrats, Steve! 180K revenue is amazing! IMO, your content is really high quality (unlike A LOT of stuff posted on YT) so you deserve all the success.
how can you get 180k dollars when you only have 71k subscribers
I have a friend and his wife who did this throughout their lives. While me and the wife splurged on everything we wanted. However we both have good pensions and a paid off mortgage and cabin. Our friends were millionaires by the time we were 30. They unfortunately both passed away last year at 62 years old. And their dead beat son inherited their property and their savings and with the way he is I imagine it will all be gone in a few years
Sad our friends never enjoyed their hard earned money the way they could have
They never went on extravagant holidays. They never treated themselves to nights out or to the toys my buddy wanted for years. He always talked about wanting a new fishing boat. But we always just used mine which I didn't care as long as I was fishing. I just wish they would have spent it before they passed
I'm totally with you here, saving 80% seems a bit crazy as you're not enjoying the now. Do a bit of both
That is so sad 😞 yeah sometimes love just passes you by
Idk in my opition they must did enjoy saving as it also can be somewhat of a pleasure to get that 5% deal
I want to save money but enjoy some of it too, a medium balance
@A H idk, i would not think about that. That i havent spend enough money before i died.
Especially if they loved their son. He might a spender, but it always feels good you did all you could for someone.
My Dad’s best friend saved as much as he could so that he could retire at 62. At 62, he was a millionaire and thought he was set to enjoy the rest of his life. He was diagnosed with terminal lung cancer the year he turned 62 and died before he turned 63. Never smoked a day in his life. He saved all his money for retirement, and didn’t really enjoy today. What I take from his passing is this…”Enjoy today. Live for today because you aren’t guaranteed a tomorrow.” It’s ok to save for the future but enjoy the time you have now. I wish I had learned that lesson a little sooner. I put off doing a lot of stuff because I thought I had time to spare. Now there is stuff that I’ll miss out on because I didn’t do it while I was young and had better health.
Saving is only one part of equation - having money to make money is the next part towards financial independence. Saving money and keeping in the bank will depreciate money against rate of inflation - if MMSA offers 1%, and target rate of inflation is 2-3%, money looses 1-2% of its value annually, and you should do something about it. Already mentioned in comments - parking money in all instruments that build wealth in diversified way is most prudent way I know. Buying a beater house, renovating and renting out is great, buying stocks for long-term hold is great, retirement accounts, going in as partner in local business. Buying a place to live for cash also great way to maximize your work income to free up more money to invest more. In eastern Europe, parents beat saving and minimizing expenses into children, but it wasn't until I came to US I started learning how to build wealth. Its a long and scrupulous process requiring discipline and calculated risk taking, but its fun and rewarding and more natural way of living. Over time, more assets you accumulate, the more options you have to move things around and have means to act upon some lucky opportunities that come across.
Simple solution: Live below your means, Invest a good percentage of your money in something as lucrative as foreign exchange but of course be well informed about where you want to put your money. Made my first million this way earlier this year (through the help of a pro though). This admin has got nothing on me
Amazing approach. You mentioned something about an expert. Tried my hands on that, wasnt so successful Who's he? Sounds quite amazing...
@@archiemcdougald5466A she actually "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more
@@emersonstagnitta65 Wow I know this little lady,, Once attended a seminar she was also in attendance here in Texas,, Great speaker,,
@@trishawallor This right here is the second time I am coming across this name in a week. Came across her podcast and it was lit
MY portfolio has good companies, however was red all through last year. My first year of investing and have been down 35% in the March/April sell off, and now down 17% in the last sell off. I work hard for my money, so investing is making me a nervous sad reck. I don't know if I should sell everything and just sit and wait.
Building a good investment portfolio is more complex so I would recommend you seek professional support. This way you can get strategies designed to address your unique long-term goals and financial dreams.
Alexia Lewis. She is famous and a registered broker I will recommend her trading service for you. her strategies is amazing and is working perfectly well for me at the moment.
You can reach out to her directly regarding your interest in bitcoin investment 👇
⚾️⚾️🚀
†𝟭𝟱𝟬𝟰𝟱𝟯𝟰𝟱𝟴𝟱𝟯
Frugality is an attractive quality to the majority of the population. Being frugal is about putting your dollars towards the things you care about and not overspending on the things that don't matter.
And this why Steve conquered financial freedom and RUclips success, by being honest, and humble with life and with the RUclips world. That’s why so many people resonated with the channel, because many need to learn those top qualities.
$180,000 at under 100k subs, that’s wild. That intro, well done. Glad the water thing was a joke or at least somewhat of a joke. Always impressed with people who find the need to save when they are young. You found a good balance and it’s paying off. Great video!
This is pure dedication, discipline, and excellence. I aspire to be this determined.
Pure stupidity to stay a float only. He should invest 80% if this is the case
so basically have an awesome youtube channel that you can monetize for 180,000. simple enough.
The thing I find disappointing is that there are hardly anyone releasing content for the FIRE community that are stuck in a low-income job cycle. Retraining into a better employment skillset only helps if there are jobs in the area for that type of work. I know that from personal experience as I spent what little income I could save by getting certified as a CompTIA and Cisco certified network engineer - still I'm stuck at making $24k/year in a call center (top end of the very low-income as per HUD and state limits). On a good note (?) though, since I started FIRE, I have more in assets now than I ever had in my life; I just have to severely sacrifice things to do it, ie: food and health budget. Will I ever achieve FIRE? Doubtful, but its worth a shot.
In your situation I would rather focus on increasing income, with low income and high saving rate you risk to neglect your basic needs.
Move
@@MuzixMaker Easier said than done, sadly - it is what it is. Looking on the bright-side, if I hadn't moved to my current location, gotten stuck in a low-income cycle and if I hadn't moved to a "higher-paid" job (still low-income though, just a better hourly wage) that screwed up my paycheck which led to an eviction and homelessness for a couple of years - I wouldn't have gotten this WAH job nor would I have started investing.
I subscribed just because of the risk you took, congratulations man. I’m gonna do my best to save 10K by the end of this year.
There's no mystery why this channel did so well for you. Amazing videography and editing skills, and great connection with the audience. Glad that the algorithm recommended you to me! :)
Great storytelling, cinematography, editing, and valuable content. Your channel will go very far. I wish I could invest in your upcoming growth and success!
the most underrated finance youtube
I am in the same both as you but I am at 50% savings rate from total income. Without counting stock options purchase plan and rrsp plans. I find this level is enough for me to stay happy. Good work
I've been subscribed to you since you had less than 480 subscribers and it was called Cash College. I'm proud of you!
I’m not crying you’re crying
Your videos are always so captivating! I would love a lesson on storytelling and color grading from you.
I'd love to make something like this if there's enough interest!
I think the biggest takeaway from this video is it’s not about how much money you make or how much you’re saving, it’s what you do with it and finding fulfillment in the little things
I thought you were going to say something like I earn $1m a year, and live off 200k, but this was some actual real dude living off 20%
So inspiring Steve, I always get caught up in the over-saving to the point of trading that happiness ‘for the future’. Thank you for the reminder that even as we seek financial freedom, we don’t need to flog ourselves as we head there
Yes! I’be become such a penny pincher that I don’t want to spend much when something will afford me such happiness
I’m making what you did when you first started. I’m living at home but looking to move out. Needless to say I’m stocking my brain up with these kinds of videos and information
Of course happiness is first. But if possible I STRONGLY suggest staying at home as long as you can if possible since its almost always better financially.
@@shaunslays2151 Yeah I agree. I think it’ll be better for my well-being and growth if I can move out. But I won’t be saving as much as I am now. So it’s a constant back and forth right now.
In my country it's like this:
Salary $200
Rent $350
Food $250
Water and electricity $50
99% of us had to quit college because of the way the system is built here.
So to get financial success we become criminals; drugs, weapons you name it.
On top of that we have multinationals here from China, USA, Canada and the IMF taking the gold, wood, oil, fish etc. In combination with a corrupt government. Moving out of the country is only possible for the top 10% of the population.... just like the movie: In Time with Justin Timberlake. Anger and hate is brewing and evolving into wars. For years I've wanted to make a video on how to escape the 3rd world poverty trap on slave wages, but in order to make that video, I have to break the law.
What country?
I knew a guy just like this. He rode his old bicycle to work each day and rented a small studio. He would freeze leftover food from client lunches and eat it at a later date. I used to see him eating frozen sushi saved from a few weeks ago. He lived like this for a few years and was always miserable. He finally had a mental breakdown and quit working all together. I felt bad for him. He had a six figure income but was super cheap. He would have been better off finding a balance. I still try to enjoy life and typically only splurge on my kids. You cannot take the money with you and it is not worth it if you go through life miserable everyday.
Lately, I’ve been less dependent on my 9,5 job to cater to my needs as my investments in the financial market cover my lifestyle.
@@Halllaand I've been putting the money I saved over time in stocks and fx with the help of a seasoned trade analyst, Levi Clemans. I know learning the ins and outs of the financial market is draining, that's why I got an expert. Here, to get across.
Leviclemans(a)Gmai
Lcom...Is he taking commissions for trades? Yes, I’m I still making money in the process? Hell yes!
As I go deeper into the market with Levi’s help, the more my portfolio focused more on income and the preservation of capital. That a higher allocation in less risky securities, that will give me returns. Thanks to him, these securities provide income that I have used to live on without having to touch my savings.
@@Christensen554 You did well. Seen remarks of his works. Haven't had any luck with investing too as this is my first shot and won't mind him helping me for a fee. I'm awaiting his response. Bless you.
Is he taking new investors. I'd be glad if he can help me
Great video. I'm at 60% savings. Salary increased but kept my life style, which I fully enjoy. Next step, create passive income.
This was a really well done video, nice work Steve!
Yes! Goals! I will never jeopardize my happiness, wellness nor peace of mind, again. What's important to me? Inner fulfillment. 💕✨
Very inspirational 🙌🏼
Yeah because you believe everything you hear or see lol
Wow, man, that's an amazing and inspirational journey. I def share most of the values you mentioned: cooking at home, not going out, spending on what truly matters. As a fellow Torontonian and an aspiring creator I can say saving money and reaching success on RUclips is so so hard, so very glad you made it work! Any tips on how to get noticed on YT?
This song never gets old. No matter how much I listen, I never get bored
I needed to hear this today. I lived in Toronto and know that rent price tag. Then I moved to the Georgian Bay Area and somehow expensed are just as crazy. My landlord just sold the house and my new apartment is hundreds of dollars more per month. Seeing your similar-ish journey is very comforting. It’s been stressful, but I know it always works out. Thanks for the reminder.
What I'm getting lately is that I should quit my job as a young engineer and become a content creator. The amount you make creating content is so much more than being employed lol
Nothing like a good ol Canadian "about" ☺
First time watching your videos. Love the story and your chill & sincere vibe man.
I am 40, still en route to financial independence but investing most of what I have with good results. I very much admire and respect stories like yours. Disciplined but well balanced ambition; our world needs a lot of that.
Best of luck Steve!
Bro, it's scary how much our stories overlap... I also moved to Toronto in 2021 for similar reasons, had 3 previous jobs and am currently earning the same you did before quitting and starting RUclips full time. This is a goal I'm relentlessly pursuing and I'm pushing hard to get there. Thanks for giving me the extra push to raise the ceiling and make it happen!
Good Luck man. Im from Argentina and I Love canada. Now I live im Barcelona and Save 70% of my salary and put it on in vanguand. Im have 40 Years and we share the same dream
I am married to the most amazing girl we have kids but still love in a basic house and cars that are paid for. We save about 45% even with kids
Another awesome video! ❤️❤️ Am investing my time and money in crypto now, this new price is a clear sign for new investors to come in ✅✅...
,
Crypto is the future
got 80% of my total portfolio in Crypto and it has be great returns
That won't bother you if you trade with a professional like Expert Robert Johnson trading analysis they are top notch in the crypto trading market.
I heard his strategies are really good.
@@Gabriel_Dubois Yeah my first investment with Mr Robert earned me profit of over $25,530 US dollars ever since then he has been delivering
Saving is a choice its not for everyone, Some people save for security, others use their money for car, for house for vacation it's your choice. You only save for investment to save time, a lot of people saying that they don't live fully by saving every penny lol being happy is by being content for what you have not for what you don't have. You have to make a plan, Write it on the paper where you spend your money that you be happy for. Like me i don't work hard that much but everytime i work i save it as many as i can. By just appreciating that you open your eyes in the morning is already richness we already rich ladies and gentlemen, the other things that you wanna get is just a bonus, Money food stuff etc etc etc.
The editing is great in this video.....Figures..yet another good Canadian channel. Happy to have found you and all your commenters.
tHanks for the video !
Looks like clever people watch this channel......... I suppose if I sit over in the corner watching quietly. I won't be spotted.
The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy
you are definitely right , waiting on the government is a big waste
Investments are the stepping Stones to success especially if you been guided by a professional
Investing is good but investing in the right thing is the actual key to success . who is your pro ?
That was exactly what I did, I trade with a professional stock expert "VIVIAN KLAINE MORGAN " who i met in one of the seminars..
There are so many investment out there but if profits must be considered then not all investments are good to go into.
Steve, thx for sharing your journey of financial freedom with us! It truly is inspiring!! In terms of savings, I see many people get caught up in saving on the little things. Your saving rate will significantly increase if you cut on your biggest 2 expenses...1. move to a cheaper area/downsize 2. Get a cheaper car/use public transport. If people would do this, they'd be on a great way to financial independence.👍
I’m at 70% savings rate without much effort or tracking (relatively high income earner around $140k, partner is in and out of work so we don’t rely on a second income stream). I don’t want to spend my time now tracking and making efficiencies for a small improvement in early retirement age and am happy at this level.
Great story! Your voice makes the video easy to watch. Love it
It’s a great video. However, it is not that easy to save when you are my age and have 3 children, two of them in university and 1 of them in Elementary school. I am 54 and as a single mom, I don’t think I can save 80% of my salary. Especially when I don’t believe in Student loans for my children.
Yeah divorce is a real finance killer
Should of picked a better husband. Tough break
@@DavidRamseyIII yes I would have… if I had the ability to see in the future
Hi Steve, how do you save 80 percent of your income when taxes in your tax bracket is 50 percent?
his girlfriend picks up the slack?
Tax brackets are marginal. My average tax rate is 30%ish before deductions.
I just want to be stressed-free or worry-free. I hated worrying about money. Freedom is happiness. Owning less is more, in my opinion.
Good for you Steve. Glad to hear you found your happy balance with more room to grow in many areas of your life!
Looking forward to a better saving this year. I seek to maintain my expenditure while I finish building my home so I can cut on the rent and grow most of my food. Then increase my income at least by 50%. So help me God. #Discipline
Wishing you the best Ananda!
Oh. I love your message.
It’s all about living within your means and using it as a tool to help you be your best self of what you truly value.
All this should and shouldn’t can be very noisy sometimes and direct you to become something you’re not, but at least it helps you learn who you are. :)
I was going to comment "well I save 100% of my income, and live on dead rats i find under my van", but the vidro already beat me to the satire 😂
Here before the 1 million subs.
Hi Steve, can you do a breakdown video on your 180k earnings? Like how much of it comes from Google adsense vs sponsorships vs investments? Thanks!
Great video, yet again! Loved it.
Quick question though; if your savings rate was 70% at $70'000, and 75-80% at $180'000, didn't your expenses almost double?
i think that makes perfect sense to him still enjoying the present while reaching for his goals 🙏🏾
Your voice is magical. Keep up the good work bro. Take love from Bangladesh.
I save 80% of my low pay salary. I am a frugal. I feel good at having the power of cash.
very inspiring story Steve. What a way to live a happy life
Ever since you collabed with Matti, I've been thankful to see your journey on youtube and its not only been awesome to see, but also inspiring to me thats possible to go ft youtube and also very informative with proper financial education! Appreciate all you do for the community!!
Why don’t you own anything? Who owns your investments? Are they in a trust or something? Why?
I didn't become financially independent until my late 40s....after the financial choas caused by covid i was a wreck but Thank God for making me see through with my financial investment plans that helped me in acquiring my 2nd house now and aside from that i still see monthly income ...truly investments are key to financial freedom, no matter your age you just need to take that important step.
No liabilities 🔥
Your videos are amazing in content and visually
Thanks Ricardo!
Well done my friend! I love your philosophy about minimalism and life.