How Minimalism Can Help You Build Wealth

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  • Опубликовано: 7 сен 2024

Комментарии • 120

  • @TaeKimFinancialTortoise
    @TaeKimFinancialTortoise  2 месяца назад +4

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  • @larryronhartfield55
    @larryronhartfield55 Месяц назад +167

    Frugality lets you maintain a balance where only your priorities come first , leading you to a secure financial future. I am avoiding debt , saving and investing around 40 percent of my income. I have a high paying engineering job, and I live upstate MN. since covid my expenses got extremely low. I have zero debt on a 7 figure portfolio, low rent and truck paid off. So i can just save. feel lucky and grateful i got a great financial planner

    • @soveinaaraceli
      @soveinaaraceli Месяц назад

      I realized that the secret to making a million is saving for a better investment.

    • @kalineats
      @kalineats Месяц назад

      please can i get your consultants info? or should i drop mine?

    • @larryronhartfield55
      @larryronhartfield55 Месяц назад

      @@kalineats Dianne Sarah Olson' is her name. In her area, people consider her to be a genius. Look her up; she's well regarded in her field.

    • @lidijatana7894
      @lidijatana7894 Месяц назад

      Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing.

    • @mitsen01
      @mitsen01 28 дней назад +4

      bot ahoi

  • @KamarleyThompson
    @KamarleyThompson Месяц назад +38

    Not wanting too much made my life easier and I realized you can have all the money in the world and still be unsatisfied.

  • @loud9090
    @loud9090 Месяц назад +163

    Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

    • @Jasongonzales-45678
      @Jasongonzales-45678 Месяц назад +1

      After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.

    • @loud9090
      @loud9090 Месяц назад

      Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

    • @Jasongonzales-45678
      @Jasongonzales-45678 Месяц назад +5

      I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.

    • @loud9090
      @loud9090 Месяц назад

      I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

  • @RichardTouchfaith
    @RichardTouchfaith Месяц назад +46

    Walking out of Costco or Target and not buying anything besides groceries since you realize you do not need more "stuff" is a nice experience.

    • @PersonalFinance101-m7e
      @PersonalFinance101-m7e Месяц назад +5

      Sure. Resisting the urge to splurge and sticking to just the essentials feels like a victory for both your wallet and your peace of mind.🙂

  • @bocbocigi.-hs5nd
    @bocbocigi.-hs5nd 24 дня назад +318

    The fact that nobody talks about the forbidden book 'Arab money secrets'

  • @JigglyBees
    @JigglyBees 23 дня назад +5

    I have ADHD and I used to be a constant hoarder or 'collector' as I phrased it. Minimalism made my life so much better. Don't get me wrong, I am not a perfect minimalist. The impulsivity that comes with ADHD and the dopamine spike from new buys is hard to resist and there are times I have failed at resisting. However, after downsizing around 50%-60% of my possessions over the last 2 years, it has really helped my mental health, finances and executive function. It has massively improved my ability to say no to things and I am finding it easier to resist wanting to buy any shiny thing that draws my attention. I even managed to go on my first holiday abroad a year back which is something I was never able to do before.

  • @TheWasup1994
    @TheWasup1994 Месяц назад +6

    My biggest realization recently is that the more stuff I buy, the more tax I pay to the government. So spending less money on items helps me save money on tax

  • @stpehenswenson5517
    @stpehenswenson5517 Месяц назад +10

    Great advice again. I’m myself a minimalist for about two years now. I was so surprised how much money I was blowing just on coffee everyday. I’m not rich at all but it’s nice now having a nice emergency fund and able to max out my Roth every year. Which I wasn’t able to do before.

  • @ryanwilliams989
    @ryanwilliams989 13 дней назад +5

    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!!

    • @TheresaAnderson-kf5xw
      @TheresaAnderson-kf5xw 13 дней назад +4

      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 .

    • @maryHenokNft
      @maryHenokNft 13 дней назад +4

      Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn

    • @hunter-bourke21
      @hunter-bourke21 13 дней назад +4

      In fact, I had no prior experience or understanding when I began investing in 2018, but by the end of 2019, I had made a profit of almost $750k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.

    • @maggysterling33254
      @maggysterling33254 13 дней назад +4

      @@hunter-bourke21bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

    • @hunter-bourke21
      @hunter-bourke21 13 дней назад +3

      *Gertrude Margaret Quinto* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

  • @MrAgility888
    @MrAgility888 Месяц назад +5

    I have a North Face jacket from 2011. It's definitely a little worn in some places but it still looks good and works well.

  • @jeffbox1torres
    @jeffbox1torres Месяц назад +22

    With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.

    • @brickPalmerm-ki5er
      @brickPalmerm-ki5er Месяц назад

      I'm celebrating a $60k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me just one of the things copy tradee can do.

    • @WaltRsDave-cs4zc
      @WaltRsDave-cs4zc Месяц назад

      Do you invest with a professional broker? I'd appreciate it if you show me how to go about it.

    • @jeffbox1torres
      @jeffbox1torres Месяц назад

      Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.

    • @jeffbox1torres
      @jeffbox1torres Месяц назад

      Use her name to quickly conduct an internet search.

    • @jeffbox1torres
      @jeffbox1torres Месяц назад

      SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME.

  • @jameswood9772
    @jameswood9772 Месяц назад +4

    Creating wealth entails establishing positive routines, 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, Financial management is a vital subject that many avoid, often leading to future regrets.

  • @stephen.macleod
    @stephen.macleod Месяц назад +6

    Tae, did you just throw your wife under the bus as an excuse to buy new North Face?! 😂 Love the channel.

  • @Willycheng590
    @Willycheng590 Месяц назад +5

    This time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm almost debt free. I truly cannot stress enough how helpful experts in this field are!

  • @Marelybbmarley
    @Marelybbmarley Месяц назад +1

    NEED A ROOM TOUR.
    Even if it's a short. 🎉❤
    Love the look and feel. The book shelves, the weight rack and the simplicity.

  • @ubaidullahtahir4814
    @ubaidullahtahir4814 Месяц назад +4

    Hello from Kashmir, India.

  • @Ozzie19136
    @Ozzie19136 Месяц назад +3

    Thank you for this. So much practical advice. Really enjoyed how you presented a quote and then explained how we can implement these principles in our lives today.

  • @Merewah97
    @Merewah97 Месяц назад +2

    My northface inner and fleeces still works well 25 years later

  • @soumyajeetchakrabarty6872
    @soumyajeetchakrabarty6872 Месяц назад +1

    (P2) I totally agree about quality over quantity , I have a couple of jackets which I purchased in my college days ( 1 Addidas & 1 puma) and they are still solid gold, I just had to repair the zip of 1 one of them. However when a couple of years back I purchased a stylish pair of shoes from an unknown brand that were cheap I had blisters on my feet, I dreaded to wear them and it soon succumbed to wear and tear.
    I gave this context because I wanted to share a valuable lesson that I learnt in my indulgence in materialism to my relationships, I rather have a couple of long quality meaningful relationships rather than a bunch of shallow toxic ones.

  • @dmcdndy
    @dmcdndy Месяц назад +1

    A tip I learned years ago is to pack only one pair of underwear and just use the flip technique. Just keep flipping them every day inside out and then flip them back to normal the next day and it saves room when you pack and you only have to wash 1-2 pairs.

    • @renewashington791
      @renewashington791 29 дней назад

      😂😂😂 EWWW!!! Or just try **Never Wearing Underwear**

  • @Merewah97
    @Merewah97 Месяц назад +1

    Success is getting your wants
    Happyness is wanting your gets

  • @Obsessed.WithMoney
    @Obsessed.WithMoney Месяц назад +3

    💯most people are going into debt to buy things to impress others and to pretend they're successful when they're not. Yeah bro you can finance a 60k depreciating car to get girls or you can buy a beater car with cash and then save up 40k for a downpayment for a house, which is an asset that appreciates in value. Living below your means is how you get ahead financially.

  • @schwaemmy
    @schwaemmy 28 дней назад

    The sunglasses case as an example of minimalism did make me chuckle a bit. While of course I respect it, it doesn’t seem like the quintessential minimalist item, haha. I’m glad the world is moving in the direction of minimalism! Better for the environment, anti-consumerism, and promoting real contentment and engagement in the world. Great video :)

  • @Mikael00898
    @Mikael00898 Месяц назад +5

    My life changed when I realized that no one was coming to save me. If you take your life seriously you will see a lot of improvement. I made the decision to start cryptocurrencies earlier last year at 38, just 1 year plus a few months since I started, I have grown my portfolio to over 100k, I know this isn't much but it wasn't easy to inspire myself. I really thank God for my journey so far and also connecting me with the right people.

    • @LeoSabastine
      @LeoSabastine Месяц назад

      What's the best way to kick things off? And how long until the lnvestment starts bringing in profits?

    • @Mikael00898
      @Mikael00898 Месяц назад

      It doesn't matter how long you wait, in this markêt opportunities must come. Invest for the long haul. It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor.

    • @LeoSabastine
      @LeoSabastine Месяц назад

      I hope you don't mind recommending your advisor since you mentioned something like that.

  • @barry4848
    @barry4848 Месяц назад +2

    appreciate your message.....I would not spend that much time or effort for a glass case....we all have our own methods and limits

    • @mangani0
      @mangani0 Месяц назад +1

      agreed, a minimalistic approach on spending time on something that's not as expensive.

    • @CurieBohr
      @CurieBohr Месяц назад +1

      Don’t believe this crap. He has MacBooks and iPads and iPhones and 5,00 books, etc all over this video. He’s a spender.

  • @VikDFW
    @VikDFW Месяц назад +1

    Buy the Champion sunglasses from Costco. I have 1 in each car. No case needed. UV Rated and made in same factories as higher priced brands. At $29 if it falls apart, throw them away.

  • @Mileko-fv5pb
    @Mileko-fv5pb Месяц назад

    Thx you for this video. After having my couch for seven years, it finally broke and I took over a month to try to find a replacement. This additional information was very helpful.

  • @Inspire_andrew
    @Inspire_andrew Месяц назад +2

    Such great advise, I am definitely on board.

  • @chiefenumclaw7960
    @chiefenumclaw7960 Месяц назад +2

    I love Mint Mobile!

  • @rossderer6154
    @rossderer6154 Месяц назад +3

    One of the most unsatisfying feelings is having a high networth but still not being able to aford owning a home.

    • @Great_PatBingsoo
      @Great_PatBingsoo 28 дней назад

      The two cannot both be true lmao. Either your net worth is not that high, or you’re being picky about your home.

    • @rossderer6154
      @rossderer6154 28 дней назад

      @@Great_PatBingsoo I live in santa barbara ca. The bottom of the market for a single family home 1.7m

    • @user-sv3kc6nw7c
      @user-sv3kc6nw7c 20 дней назад

      My goodness, and I thought my place is crazy to have a median house price of one mil Australian dollars.​@@rossderer6154

  • @platinumblast8610
    @platinumblast8610 Месяц назад +3

    Thank you mr Kim great channel

  • @themeatspot5020
    @themeatspot5020 19 дней назад

    Me and my family become homeless I was 15 over the next few year we lost all our belongings from leaving them at places and them being stolen.
    Now have a decent job and salary and roof over my head, but now I can't stop buying things. Buying something new and keeping it feels good.

  • @LashusJourney
    @LashusJourney Месяц назад +1

    Thanks for great content as always! I need to sign up for that phone service, $15 monthly.

  • @Geemeel1
    @Geemeel1 27 дней назад

    GREAT vid as usual , 🙏🏽thanks, However, my only worry is: do you want to spend so much time on researching a sunglass case...? If I had worked on my new book for that hour, in the long run it would serve me better, maybe? 🧐

  • @PatrickMcCarthy-m1k
    @PatrickMcCarthy-m1k Месяц назад +1

    If I'm not making car payments and monthly insurance, being better off? I can see it.

  • @user-sv3kc6nw7c
    @user-sv3kc6nw7c 20 дней назад

    Thanks mr kim, subscribed.

  • @andersontiban5356
    @andersontiban5356 Месяц назад +1

    Nice book shelf

  • @Steve_SEC
    @Steve_SEC Месяц назад

    What about dividend ETFs such as VIG, or does VTI provide sufficient dividends?

  • @peterl2767
    @peterl2767 Месяц назад +2

    Great info 👍 👌

  • @nealremy6635
    @nealremy6635 Месяц назад +37

    The market's volatility makes DIY dangerous. You do not need to identify the next NVDA to be successful in investing. Choose top-tier ETFs, dividend aristocrats, and a trusted advisor. I turned $180k into $200k in quarterly dividends, which is an exciting milestone

    • @AnthonyKilgore-u7r
      @AnthonyKilgore-u7r Месяц назад

      For the regular, the strategies are fairly demanding. In actuality, most professionals who have the necessary expertise to pull off such trades effectively carry them out.

    • @veronaconley1953
      @veronaconley1953 Месяц назад +1

      Since I haven't taken any concrete action, I have been thinking about getting one. Could you refer your advisor to someone else? I sincerely could use some of your assistance.

    • @nealremy6635
      @nealremy6635 Месяц назад

      *Layan Talia Chokr* is her name,You are most likely to find more info when you look her up on the internet.

    • @veronaconley1953
      @veronaconley1953 Месяц назад

      Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon

    • @slicks8078
      @slicks8078 Месяц назад +2

      I called her, and she tried to convince me to send her $10,000 and when I refused, she threatened to put a lein on my home. I hung up but then got a foreclosure notice. WHATEVER you do, do not look her up.

  • @romikim4548
    @romikim4548 Месяц назад

    Thank you for great insight on minimalism.

  • @liviunicolau1807
    @liviunicolau1807 Месяц назад

    Big thanks from Romania🇷🇴

  • @user-bf2ov3ws7o
    @user-bf2ov3ws7o Месяц назад

    Love this! Minimalism truly helps focus on what matters and build wealth mindfully. We sent you an email, take a look.

  • @walterblack6402
    @walterblack6402 Месяц назад +4

    I have learned a lot concerning crypto progress this time and would like to join in. I wish I can get good mentor ?❤

    • @PreshWeirdo
      @PreshWeirdo Месяц назад

      I thought am the only one desperate to invest in crypto this time.

    • @PreshWeirdo
      @PreshWeirdo Месяц назад

      I have made a lot of mistakes trying to do it on my own,I really need direction or help of a pro in the field.

  • @kirk0831
    @kirk0831 Месяц назад

    How many physical books do you own?

  • @Kinjo7
    @Kinjo7 Месяц назад

    Side note: I want a home library with a squat rack too

  • @user-zf9ps5tb4s
    @user-zf9ps5tb4s Месяц назад

    what camera do you use?

  • @RocketFuelEdu
    @RocketFuelEdu Месяц назад

    Great advice

  • @janeairvintage7416
    @janeairvintage7416 24 дня назад

    I still don't know what streaming is and don't care to know, have books to read

  • @cbrent65
    @cbrent65 Месяц назад

    Thought the sunglass case spill was gonna lead to a sponsor. Who shops for that lol

  • @spanishmeatloaf7901
    @spanishmeatloaf7901 20 дней назад +1

    Just don't go out to eat. You'll be sur
    prised.

  • @NisseMas
    @NisseMas 19 дней назад

    I am a minimalist because it's the only option for me, I don't have the money to buy things. These videos starts to piss me off.

  • @beaverclea
    @beaverclea Месяц назад

    Um, aren't you in Europe? Is this video pre-recorded?

  • @user-vk5kj4dy9t
    @user-vk5kj4dy9t Месяц назад

    north face jackets i have has a zipper problem. Arc'teryx is popular here but its expensive

  • @soumyajeetchakrabarty6872
    @soumyajeetchakrabarty6872 Месяц назад

    You are ❤❤❤

  • @_permanence
    @_permanence 16 дней назад

    “Fewer”, not “less”.

  • @gotinycampervan9683
    @gotinycampervan9683 Месяц назад

    Laundry day?

  •  18 дней назад

    "Enough" is important. Please make sure you allow enough time for words to come out of your mouth clearly and not talk too fast.

  • @nightfangs2910
    @nightfangs2910 Месяц назад +2

    This is a very difficult concept for most women, and a very easy concept for most men 🙋🙋

    • @mpjsac8951
      @mpjsac8951 Месяц назад +5

      Opposite in my case. My husband has a collection that occupies 2 rooms in the house. My own stuff fit comfortably in my closet. 😊

    • @sensitivelifestyle
      @sensitivelifestyle Месяц назад +4

      @mpjsac8951 - same here. i’m a minimalist and husband is maximalist

  • @JaneCurrie-z8f
    @JaneCurrie-z8f 26 дней назад

    Please tell retirees who have a next egg how to allocate funds. I’d like to have 3 funds only.

    • @peridotbeauty
      @peridotbeauty 26 дней назад

      Don’t you mean “nest egg”? lol

    • @JaneCurrie-z8f
      @JaneCurrie-z8f 26 дней назад +1

      Yes I did, thank you.

    • @peridotbeauty
      @peridotbeauty 23 дня назад

      @@JaneCurrie-z8f
      No worries. We’re all prone to human error!

  • @dbiswas
    @dbiswas Месяц назад

    Now you consider your wife in this thought process, every thing is out the door.

  • @voodoochild4236
    @voodoochild4236 Месяц назад

    Love your videos! Your name means poop in filipino💩

    • @renewashington791
      @renewashington791 29 дней назад

      😂😂😂

    • @peridotbeauty
      @peridotbeauty 26 дней назад +1

      No need to be mean. His name might mean different things in different languages, but what it means in his language is what matters the most.

  • @kaifarts9084
    @kaifarts9084 Месяц назад +1

    Cool.
    Sent you an email do check ❤