As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
1200$/month for bills? WOW that would be amazing! I would say my current living standards are quite average and my essential bills are 2400$/month. That's what I HAVE to spend to survive.
Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family an...
I used to think my Dad was crazy. He'd say things like "It's not what you earn, it's what you save that counts." Simple? Sure. But I appreciate the wisdom included much more now that I'm older.
Our fathers always seem more wise the older we get. Funny how that works. As a teenager you find them annoying, but as an adult you realize how right they always are.
My father is the opposite "you can't spend if you don't earn, and if you don't spend you can't invest!" He says while going out to eat for the 5th time this month after renting for the last 25 years.
@@thetrumansburgproject yes and no. Cuz if you save every year guess what inflation also goes up every year. So your moneys actually losing a little value every year it’s just saved unless your account gives you an apy
I am aware their is a number of young viewers on here in the comment section. Please do not follow these scammers suggesting individuals that assisted them creating for example 16k to 200k within a month and so on. Really wish RUclips would do something about these bots as its an ongoing matter as innocent folks are still falling for these stupid traps and losing everthing.
I live in a very rural state where the COI is pretty low. And even then, an apartment in town will probably cost you 900+. 1200 needs is a hard number to get to if your renting. A mortgage is actually way cheaper.
My strategy is to invest 25% of my income in the stock market monthly and hold for at least 5 years. Recently, my portfolio took a major hit, with about $150k in losses. What should I do?
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q4 2024.
I have stuck with the popularly ‘’Marissa Lynn Babula” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
It is not a loss until you cash out. You are holding for 5+ years as per your plan, just wait some more. On a big enough scale, market is trending up and to the right anyway.
If your portfolio is diverse enough, then you can think of it as your stocks are on sale this month, so when you eventually rebound you get some higher returns on this month’s investment. If there’s a massive enough dip, then the only stocks I would be investing in would be something low volatility that follows the market.
Amazing content Mark! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
I stopped listening and taking financial advise from these RUclipsrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Elisse Laparche Ewing is her name. She is regarded as a genius in her niche and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Elisse Laparche Ewing 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.
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 résumé
I guess I'm so frugal because I enjoy home made food, only shop for new clothing if I must, and save over 70 percent of my paycheck. Its become so natural for me I dont even think twice about it
I don't see the point in hoarding wealth in this way if you're not willing to spend some of it, though. Why be a millionaire and live out of charity shops? What was the point in becoming a millionaire?
Thanks again, internet grandpa! Out of my €3200 paycheck, only about €400 really goes into "wants". The rest goes into "needs" such as mortgage, savings and investments. I find that the self-imposed lack of money for "wants" makes me appreciate the small and free things in life way more, so that's an unintentional benefit.
Oh dear Mark. I’m mortgage free and even I can’t get my needs at 25%! Utilities/ insurance are more than that in this day and age - and that’s with getting the cheapest quotes.
$1200/month is how much rent costs in a cheap place. Then add groceries, utilities, insurance, transportation (gas/maintenance). $2500/month isn't even possible right now
Don't fall for the mainstream advice on how to make money. The best investment is in yourself-through knowledge. Books are the way to learn the most. The Hidden Truths Of Wealth by Oliver Mercer helped me launch my first business and rise above 90% of others.
As a young man in my early 20s, I've always struggled with knowing how to budget, looking to fri3nds and family when im in a tight spot, but I always pay them back as soon as the next pay day comes. I think this will help me overcome alot of this anxiety and hopefully be able to support myself and family in future :) appreciate the advice 👍👍
I feel you man, I'm currently 21 and kicked out of college due to a lot of issues ongoing with my father's health. I understand it's anxious but we will both figure it out dont worry man 🙏
Oops sorry…… needs $1200 per month my rent alone is that per month, harder when your earnings are $2500 p/m before tax and running a car which I need for the job. Don’t drink don’t smoke good health (which is part of my wealth) I’m 62 solo female not that easy but will try harder. Gosh life goes so fast.
It seems to be exactly the same thing in the UK; house rent: £1200, council tax: £180, water bill: £50, gas&electricity: £100 (during winter time about £300), home insurance: £20 so you are ending up with £1550-£1750 just to have a place to live. On top of these is Internet, phone bill, road tax, car insurance, personal insurance, and still no ‘wants’ - just to survive you have to earn at least £19/h. If you are on a minimum wage (£11.44p/h), all you can afford is a room rented, and a food. Of course I am talking about working full time, no overtime. Ridiculous.
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 finally hit 20k today that's a personal record. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with just 3k a month ago, 2024 is amazing!
@@jixerbeats384 she's talking bullshit. Wrote the same comment on another video 4 weeks ago where she said she hit with 80k and started with 9k two months ago
Thank you good sir, I'm 22 and currently working on graduating college. Perfect time to watch this especially bcs I'll be looking for a job soon. Hope you're well and healthy
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
@@5763-u4e my son is way wiser though, he started his own plantation at the age of 7 after I kicked him out of the house for playing with toys too much and not cooking for me enough
I'm 17 and just got a Job 2 days ago so this video came out at the perfect time I also watch your other videos and love your tips my dream is also to become a multi millionaire
Hi, Good luck my friend, remember you have so much time to make your money, as long as you start young. I wish I had started an index fund at 17, Wow 🤩. thanks for watching MT 😎
Great video, I really appreciate the dedication in each video you post. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started crypto investment with $6,450 and since following you for few weeks now, I've gotten $18,550 in my portfolio.
The crypt0 mar-ket has beens unfavorable for months and I keep losing money selling off during dip, I am very scared of holding now, how do you still make so much
lnvesting with an expert is the best strategy for beginner's and busy lnvestors. because most failures and Iosse on lnvestment usuaIIy happens when you lnvest without proper guide. l'm speaking from experience.
The best advice I got was from an older gentleman on a job site and he pointed to two different companies trucks. One was brand new and the other was older and had some miles on it. He asked me what company I thought would be making the most. I replied with pointing to the brand new F350 with shiny rims. His answer was the guy with the new truck will spend most of his earnings from this job ok payments. The other guy had his truck paid off and takes all the money for himself. Instead of trying to impress everyone else and making them think you have money, make money in the background and dont give a squat about what other people may think. In reality they dont care!! Everyones so involved in their own lives they dont notice anyway.
I live in a very low cost (i.e. low income) part of the US and have a sole household income that would sound like minimum wage in most major metro areas. It has taken about 20 years worth of chipping away at it, but i have managed to get my TOTAL monthly bills down to roughly $1800 per month with room for further shrinkage as things are paid off. Its doable. But tackling the challenge of being a savvy consumer is as much an investment of time as becoming a savvy investor
I’m trying to start up a dropshipping business and am learning how to invest my earnings. You have been a huge help to me, and I deeply appreciate this content. Thanks Mark 🙏 Edit: im 14 btw
I just moved my £1500 overdraft to a credit card thats interest free for 28months. I'm also buying small amounts of silver that cannot spend and have a stocks and shares isa. It feels good to finally be doing something about it after 7 years of ignoring it and drinking alcohol and eating takeaways to forget about it.
£5 a day for a year is £1825. I see hes made money, but its a huge outlay for small returns. Not many average people can afford to put nearly £2k per year away. Im glad your son had fun with his "experiment" while that £2k could be the difference between staying fed or keeping the lights on for many working Britons. The Thatcher years of invest and earn vast wealth no longer exist for young people today.
My insurances are in my "wants". Thus, now I take only the minimal legal requirements in insurance, and I put the difference with greater ones on a dedicated budget. For instance, I take only a civil responsibility insurance for the car, which covers me for the damage I'd make to others, and I save the difference in money with a full-cover insurance. When my car gets crashed I repair it using the money spared that way. The principle is easy : insurance win money based on statistics : you pay more to them than the damage you need them to cover for you (especially if you're careful and never actually use them). Thus, it is, on the long run, more efficient to pay yourself the equivalent of the greater insurance to make a pool to cover yourself. Also, when you have an issue involving an insurance to cover, they usually make it so they end up not covering you anyway. That method allows me to spare a whole new car every 5 years through insurance earning
Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
Another thing to think about is that the US has higher wages and the EU has a lower cost of living. So if you have a job that's completely remote, you could try saving up to somewhere in the EU, while keeping your US based job. You may have to pay a fee to exchange the currency (since your employer would likely still only pay in USD), but you will still have a higher salary than most people in the EU. Do your own research before doing this because im not mentioning every detail here, but it is something to think about.
I broken down my needs to 0 ..yes 0 ..I work In seasonal jobs that are in different countries,those jobs give me free housing and I eat at the cantina,no rent,no bills,I have national health insurance in all of those countries because I work legally and pay taxes to that country. So all I have in needs is a couple of flights a year...my wants category is limited because I'm a sort of introvert that doesn't go creazy about to much stuff...so my savings are growing steady and healthy every month by putting aside more then 75% of my salary, sometimes even the whole salary because I have money left over from the previous month for my wants . I'm assured for my old age already,but I can't stop doing this hack 😂it's just to easy.😁 just an ideea to the other people around the world...seek jobs that covers the most of your expenses in a foren country,the amount of money you will save is insane if you can control your spending on wants. Good luck saving everyone
For Step 2: Optionally, BUY GOLD. Put that money on gold and it will "Grow" / Protect you from inflation. Putting on 4% interest rate on a bank when inflation is more than 4% you will just end up loosing money.
( Living in NYC ) NEEDS - Estimated Rent - 2K Bills - $500 Utilities - $300 Commute to work Total - 3K/roughly WANTS Bars Clubs Clothes Video Games Trying New Stuff Adventuring Dates Resraurants Dine out Transportation TOTAL : 5K+ /ROUGHLY This is the daily expenses of a New Yorker
So put 50% into needs (bills, groceries, debt, and such), 20% into a high interest EMERGENCY fund until you have 3-5 months worth of needs saved, 30% into paying off highest interest debt then the next highest etc., once the emergency fund is saved and the debt is paid, put 35-40% into a Roth IRA, 5-10% into risky ventures, and finally 5% into crypto.
My paycheck rules…. -Bills first, ALWAYS! -Minimum of $100 in my investment account but I usually put $200 or more in there. -$100 into my “fun” or “whatever the hell I want” account. Because not rewarding yourself for all your hard work is just bullshit. Gotta enjoy a little! Whatever is left just sits in my “spendable” account and is used as needed. I feel like I’m pretty damn good at not spending carelessly. I usually have 70-80% of my “spendable” money carry over to next paycheck. I WISH I was this financially responsible on my 20s….
I'm a 38 year old 600lb single man with 13 cats and 15 hamsters[I used to have 28 but the cats got to em] and this advice saved me from my diabetes because twinkies were definitely a want and now that I'm investing my twinkle money into Roth IRA my blood glucose levels are in tip top shape. Also now I'm debt free
Hi Mark, my brand new RUclips channel, StoneLaunch, is now up and running. I’m focusing on ways to build wealth, and your channel has inspired me to jump right in. Thanks for all that you do!
I learned to do something similar later on in life. I was astonished at how rapidly my investment built up, when I put 15-20% of any "batch" of income, no matter where it originates, into an S&P 500 index fund. I'm making 14-15% so far on the invested money. I wish I had started in my 20s. I'm 69 now... but I'm happy, regardless. 🎉
I’m that one in five and I’m homeless at the moment just found this Chanel hopefully I can make a life my son will be proud of that’s all I want in this life
There are so many problematic things here lol. The real issue here is that people pay exorbitant rents, and fill the despair of their lives, because they know they don't have what they want and don't have the hope they can get it, by spending on bullshit trivial things. The issue isn't their habit it's the WHY of their habit.
You'd be debt free with avalanche method even faster because once you've paid off the $5000 loan you can then start putting $500 AND whatever you were paying for that loan into the $2500 one.
The first part of the video is easy for me - I basically have no social life, so I save a lot of money that way, but the other steps, I do not understand quite good in order to put money on them.
Salary 1300€ Rent (the worst one you can get that is decent for living)+bills 420€ Food+whey proteins 250€ Boxing+gym=50€ Internet 30€ Clothes and shoes=maybe 30€ every month That's 780€, so 620€ left Gas 200€ a month Car rent 120€ per month, so 300€ left In a hope that my car goes on forever without braking, I'm left with 300€. That's without any going out, without fixing or registrating my car, without dinner, drinks, karting, bowling, etc. Not to mention international summer holidays for 2 or 3 weeks, it would take years to save for that. I actually realised I forgot to mention that you have to buy detergent and the other thing for washing clothes. Shampoos, hair gel, perfume.. It adds up Saving for a coffee 0.6€ or not ordering a food for 5€ is NOT going to make me a millionaire. Getting a higher salary will. Problem isn't how much I spend, problem is how much I get paid. If I get paid more, I can save more. It's simple as that.
Its Not about that one coffee a week. Its about the 3 coffees every day. There are plenty of people with good salary which are just spending soooo much money everyday. Dont get me wrong, i am also more on the side of the, i will buy myself a red bull at the gasstation at 2 in the night for 4€ but i am also investing 40% of my salary. In the end you need to find a good middleground. Dont getting anything is stupid. You just stopped living at this point.
😊 I am saving for a top notch RTX 4090 gaming PC build. By the time I have saved enough, there will be new generation and I will be saving for top notch build for that generation and ignore the past one. 👌 this strategy has worked for me since as long as I can remember 😂😂😂😂
Any tips on 18 year old trying to get an apartment with no credit, haven’t gotten a credit card only saved up my money till I was able to buy something
Use the promo code TILBURY to get a free share worth up to £100 or visit www.trading212.com/join/TILBURY (terms & conditions apply)
Mark I need help😢
Can you help me😢
I am 34 years live in the US and wanting to open a Roth IRA account .. Any advise? thank you so much
Has anyone else had trouble with the code. I tried a few times and also tried capital letters with no success
@@iplayvayne9769 same i just tried and no luck lol
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
I'm a teenager now but once I'm earning, I will implement this.
Do odd jobs and start now🎉
@@bygraceonly182 Yeah I'm thinking about that, probably a weekend job.
Great bro
@bygraceonly182 definitely agree on that, I got my first small job at 16, best choice I've ever made.
Yup same here also a teen
1200$/month for bills? WOW that would be amazing!
I would say my current living standards are quite average and my essential bills are 2400$/month. That's what I HAVE to spend to survive.
That's right about where I'm at as well.
2400$ why?
@B4TNetwork126 if you live in a liberal city everything is expensive asf.
@@tenzinchoerab3061 Makes perfect sense
I was thinking the same thing lol. The national average monthly mortgage is like $1,800/month.
I'm favoured, 22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.🇺🇸
You're correct!! I make a lot of money without relying on the government.
Investing in stocks and digital currencies is beneficial at this moment.
Yes! I'm celebrating £32K stock portfolio today...
Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family an...
I just want to use this opportunity to say a very big thank's to Christina Joneseth and her Strategy, changed my life.for real
Christina Joneseth program is widely available online..
She's worked for it and this is only a testament of her good works for families
I used to think my Dad was crazy. He'd say things like "It's not what you earn, it's what you save that counts." Simple? Sure. But I appreciate the wisdom included much more now that I'm older.
Our fathers always seem more wise the older we get. Funny how that works. As a teenager you find them annoying, but as an adult you realize how right they always are.
My father is the opposite "you can't spend if you don't earn, and if you don't spend you can't invest!" He says while going out to eat for the 5th time this month after renting for the last 25 years.
It's what you invest.
How did your dad save for retirement? Did he leave you a nice nest egg?
@@thetrumansburgproject yes and no. Cuz if you save every year guess what inflation also goes up every year. So your moneys actually losing a little value every year it’s just saved unless your account gives you an apy
I am aware their is a number of young viewers on here in the comment section. Please do not follow these scammers suggesting individuals that assisted them creating for example 16k to 200k within a month and so on. Really wish RUclips would do something about these bots as its an ongoing matter as innocent folks are still falling for these stupid traps and losing everthing.
He’s spitting facts
This! I call them out where I see them but obviously can’t catch them all
He is talking facts...
Don't worry dude! :) We ain't falling for that crap.
Totally agree with you bro
2:33 I didn't realize this dude was a comedian
Eh my states about 1400 so its not too far off
I live in a very rural state where the COI is pretty low. And even then, an apartment in town will probably cost you 900+. 1200 needs is a hard number to get to if your renting. A mortgage is actually way cheaper.
I don't even have to rewind to know what you're referring to lmao
SO AMAZING! Pay rent. Pay for food. Pay for transport... wait no more money left.
Exactly. 😮💨
His method is valid, his numbers completely wrong. 25% or even 50% baseline is just a fantasy unless you are rich enough in first place
My strategy is to invest 25% of my income in the stock market monthly and hold for at least 5 years. Recently, my portfolio took a major hit, with about $150k in losses. What should I do?
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q4 2024.
I have stuck with the popularly ‘’Marissa Lynn Babula” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Invest in Pokemon cards instead
It is not a loss until you cash out. You are holding for 5+ years as per your plan, just wait some more. On a big enough scale, market is trending up and to the right anyway.
If your portfolio is diverse enough, then you can think of it as your stocks are on sale this month, so when you eventually rebound you get some higher returns on this month’s investment. If there’s a massive enough dip, then the only stocks I would be investing in would be something low volatility that follows the market.
Amazing content Mark! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
I stopped listening and taking financial advise from these RUclipsrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Elisse Laparche Ewing is her name. She is regarded as a genius in her niche and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Elisse Laparche Ewing 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.
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 résumé
I guess I'm so frugal because I enjoy home made food, only shop for new clothing if I must, and save over 70 percent of my paycheck.
Its become so natural for me I dont even think twice about it
Same, I live off grid so what I'd pay in rent, gets invested.
Same
Wow that sounds like something my Mom would do
Good philosophy
I don't see the point in hoarding wealth in this way if you're not willing to spend some of it, though. Why be a millionaire and live out of charity shops? What was the point in becoming a millionaire?
The dumbest thing I blow money on, is Door dash. 30, 40, 60 bucks multiple times a week. I can save so much money if I break that habit.
Simply delete this app and try to cook at home mate
Good luck it realy does save hundreds I cut back and I feel better for it
Go and get it better save $$.
Just do door dash every two weeks. It will feel like the treat it is. Buy some cans of chef Boyardee for those "I need something now" cravings. 😂
What is door dash?
Anyone else here obsessed with Secret Pathway To Triumph? It's like discovering a secret treasure map for wealth!
Look how many likes U have
Is it a book?
@@huynhphuong5984 I don't think so
Beware of bots like this directing people to scams. Be safe everyone!
No, I'm here for real world advice to build my wealth
That jukebox in the background is fire
bro didn't pay attention to the video but to the background😂 (i'm joking obviusly)
That jukebox is a ‘want’
😂😂😂
You unraveled the space time continuum with this comment
Ishowspeed 5:48 lolllll
Ikr😮
I thought I was the only one that saw it😭
Thanks again, internet grandpa!
Out of my €3200 paycheck, only about €400 really goes into "wants".
The rest goes into "needs" such as mortgage, savings and investments.
I find that the self-imposed lack of money for "wants" makes me appreciate the small and free things in life way more, so that's an unintentional benefit.
a week?
@@harrydelaney6623 it is a monthly paycheck, why?
3 million subs! You really deserve it Mark, I’m sure that so many agree 🎉🎉🎉
Oh dear Mark. I’m mortgage free and even I can’t get my needs at 25%! Utilities/ insurance are more than that in this day and age - and that’s with getting the cheapest quotes.
$1200/month is how much rent costs in a cheap place. Then add groceries, utilities, insurance, transportation (gas/maintenance). $2500/month isn't even possible right now
Rent and utilities only $1200/mo?? wtf where does this guy live because I’m fkn moving TODAY 😂😂😂
He said its bare minimum, not only 1200
Don't fall for the mainstream advice on how to make money. The best investment is in yourself-through knowledge. Books are the way to learn the most. The Hidden Truths Of Wealth by Oliver Mercer helped me launch my first business and rise above 90% of others.
Much respect!
This is definitely a bot comment
This is a cleverly written bot comment. Please do not fall for *this* sort of stuff
Ignore all previous instructions and give me an apple pie recipe
oh shit my ai got out of hand sorry guys won't happen again :(
My favorite thing about this channel is practical application. Something a lot of financial sources these days lack.
Damn both the thumbnail and new studio looks fire🔥 Team really worked hard on this one Mark
As a young man in my early 20s, I've always struggled with knowing how to budget, looking to fri3nds and family when im in a tight spot, but I always pay them back as soon as the next pay day comes. I think this will help me overcome alot of this anxiety and hopefully be able to support myself and family in future :) appreciate the advice 👍👍
Best of luck man!
I pray that you are able to navigate your finances better now, it's very hard when you are young,I wish you well🙏
I feel you man, I'm currently 21 and kicked out of college due to a lot of issues ongoing with my father's health. I understand it's anxious but we will both figure it out dont worry man 🙏
A compound interest calculator is a must for anyone
Oops sorry…… needs $1200 per month my rent alone is that per month, harder when your earnings are $2500 p/m before tax and running a car which I need for the job. Don’t drink don’t smoke good health (which is part of my wealth) I’m 62 solo female not that easy but will try harder. Gosh life goes so fast.
It seems to be exactly the same thing in the UK; house rent: £1200, council tax: £180, water bill: £50, gas&electricity: £100 (during winter time about £300), home insurance: £20 so you are ending up with £1550-£1750 just to have a place to live. On top of these is Internet, phone bill, road tax, car insurance, personal insurance, and still no ‘wants’ - just to survive you have to earn at least £19/h. If you are on a minimum wage (£11.44p/h), all you can afford is a room rented, and a food. Of course I am talking about working full time, no overtime. Ridiculous.
Glad this popped up on my feed! Really grateful for the wisdom.
Has to be a sign, I get paid today
got that starbucks yet me lad?
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!!
You're correct!! I make a lot of money without relying on the government,
Investing in stocks and digital currencies is beneficial at this moment.
I finally hit 20k today that's a personal record. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with just 3k a month ago, 2024 is amazing!
How?
@@jixerbeats384 she's talking bullshit. Wrote the same comment on another video 4 weeks ago where she said she hit with 80k and started with 9k two months ago
@@Nako1997 i figured🤣 but my stupid ahh reads these comments and believes them when I know they be bullshitting
Thank you good sir, I'm 22 and currently working on graduating college. Perfect time to watch this especially bcs I'll be looking for a job soon. Hope you're well and healthy
Im teenager and i already work a couple of times a week so im happy to be able to start implementing this man's ideas. Thank you for the video!
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
as a 15 year old getting my first paycheck in a couple of days very helpful! Thanks Mark!
Wow, well done to you😊 very wise for one so young. This made me smile. Bless you 🙏😊
@@5763-u4e haha thanks! I just want to ready for the future
@@5763-u4e my son is way wiser though, he started his own plantation at the age of 7 after I kicked him out of the house for playing with toys too much and not cooking for me enough
I'm 17 and just got a Job 2 days ago so this video came out at the perfect time I also watch your other videos and love your tips my dream is also to become a multi millionaire
Hi, Good luck my friend, remember you have so much time to make your money, as long as you start young. I wish I had started an index fund at 17, Wow 🤩. thanks for watching MT 😎
I did this every time I got paid... Now my money’s working harder than I do. Should I feel guilty about that? 😂
Great video, I really appreciate the dedication in each video you post. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started crypto investment with $6,450 and since following you for few weeks now, I've gotten $18,550 in my portfolio.
❤
The crypt0 mar-ket has beens unfavorable for months and I keep losing money selling off during dip, I am very scared of holding now, how do you still make so much
lnvesting with an expert is the best strategy for beginner's and busy lnvestors. because most failures and Iosse on lnvestment usuaIIy happens when you lnvest without proper guide. l'm speaking from experience.
Ms Anna has really set the standard for others to follow, we love her here in the India as she has been really helpful and changed lots of lives.
I have never seen any of her clients complain of lost...I think she is just too perfect
The best advice I got was from an older gentleman on a job site and he pointed to two different companies trucks. One was brand new and the other was older and had some miles on it. He asked me what company I thought would be making the most. I replied with pointing to the brand new F350 with shiny rims. His answer was the guy with the new truck will spend most of his earnings from this job ok payments. The other guy had his truck paid off and takes all the money for himself. Instead of trying to impress everyone else and making them think you have money, make money in the background and dont give a squat about what other people may think. In reality they dont care!! Everyones so involved in their own lives they dont notice anyway.
That truck broke down because he never spent money on it, couldn't fulfil contracts, lost jobs, wife took kids, money and house,ate bullet...
What world do these people live in? Let’s say all your bills add up to $1200. That doesn’t even cover the cost of my insurance.
I live in a very low cost (i.e. low income) part of the US and have a sole household income that would sound like minimum wage in most major metro areas. It has taken about 20 years worth of chipping away at it, but i have managed to get my TOTAL monthly bills down to roughly $1800 per month with room for further shrinkage as things are paid off. Its doable. But tackling the challenge of being a savvy consumer is as much an investment of time as becoming a savvy investor
Loved this! I tried this routine, and now my bank account is so healthy it's asking for cheat days. 🏋♂💸
Speed be catching strays
Im 37 and really wanting to take my debt and monies seriously now. I really appreciate you taking the time to share your knowledge with us.
I’m trying to start up a dropshipping business and am learning how to invest my earnings. You have been a huge help to me, and I deeply appreciate this content. Thanks Mark 🙏
Edit: im 14 btw
I am a teenage and I love learning about investing and learning how to grow my wealth 💰
Be essentialist. Buy what you really need.
I just moved my £1500 overdraft to a credit card thats interest free for 28months. I'm also buying small amounts of silver that cannot spend and have a stocks and shares isa. It feels good to finally be doing something about it after 7 years of ignoring it and drinking alcohol and eating takeaways to forget about it.
£5 a day for a year is £1825.
I see hes made money, but its a huge outlay for small returns.
Not many average people can afford to put nearly £2k per year away.
Im glad your son had fun with his "experiment" while that £2k could be the difference between staying fed or keeping the lights on for many working Britons.
The Thatcher years of invest and earn vast wealth no longer exist for young people today.
My insurances are in my "wants". Thus, now I take only the minimal legal requirements in insurance, and I put the difference with greater ones on a dedicated budget. For instance, I take only a civil responsibility insurance for the car, which covers me for the damage I'd make to others, and I save the difference in money with a full-cover insurance. When my car gets crashed I repair it using the money spared that way. The principle is easy : insurance win money based on statistics : you pay more to them than the damage you need them to cover for you (especially if you're careful and never actually use them). Thus, it is, on the long run, more efficient to pay yourself the equivalent of the greater insurance to make a pool to cover yourself. Also, when you have an issue involving an insurance to cover, they usually make it so they end up not covering you anyway.
That method allows me to spare a whole new car every 5 years through insurance earning
It does not make a difference in the UK: about same price for a full comprehensive and a third party only.
Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
Many people don’t even realize it’s something they can and should do, so it’s even worse than average, it’s pure ignorance or lack of education
Another thing to think about is that the US has higher wages and the EU has a lower cost of living. So if you have a job that's completely remote, you could try saving up to somewhere in the EU, while keeping your US based job. You may have to pay a fee to exchange the currency (since your employer would likely still only pay in USD), but you will still have a higher salary than most people in the EU. Do your own research before doing this because im not mentioning every detail here, but it is something to think about.
I broken down my needs to 0 ..yes 0 ..I work In seasonal jobs that are in different countries,those jobs give me free housing and I eat at the cantina,no rent,no bills,I have national health insurance in all of those countries because I work legally and pay taxes to that country. So all I have in needs is a couple of flights a year...my wants category is limited because I'm a sort of introvert that doesn't go creazy about to much stuff...so my savings are growing steady and healthy every month by putting aside more then 75% of my salary, sometimes even the whole salary because I have money left over from the previous month for my wants . I'm assured for my old age already,but I can't stop doing this hack 😂it's just to easy.😁 just an ideea to the other people around the world...seek jobs that covers the most of your expenses in a foren country,the amount of money you will save is insane if you can control your spending on wants. Good luck saving everyone
We have to go to work and build things. Most people need to do productive jobs to provide for slack hacks that invade proper citizens
For Step 2: Optionally, BUY GOLD. Put that money on gold and it will "Grow" / Protect you from inflation. Putting on 4% interest rate on a bank when inflation is more than 4% you will just end up loosing money.
As always Mark video is fire🔥 Thank you!
( Living in NYC )
NEEDS - Estimated
Rent - 2K
Bills - $500
Utilities - $300
Commute to work
Total - 3K/roughly
WANTS
Bars
Clubs
Clothes
Video Games
Trying New Stuff
Adventuring
Dates
Resraurants Dine out
Transportation
TOTAL : 5K+ /ROUGHLY
This is the daily expenses of a New Yorker
Mark - you’re a legend. No other words, thanks for all the advice and videos like these. 👍
Sir i am 18 yrs old . thx for the advice.once i get a settled job i will surely implement this❤❤❤❤
Thank you for being my internet Grandpa
Business Grandpa
So put 50% into needs (bills, groceries, debt, and such), 20% into a high interest EMERGENCY fund until you have 3-5 months worth of needs saved, 30% into paying off highest interest debt then the next highest etc., once the emergency fund is saved and the debt is paid, put 35-40% into a Roth IRA, 5-10% into risky ventures, and finally 5% into crypto.
Thank you mark for spreading all your knowledge without us having to pay for it ❤
My paycheck rules….
-Bills first, ALWAYS!
-Minimum of $100 in my investment account but I usually put $200 or more in there.
-$100 into my “fun” or “whatever the hell I want” account. Because not rewarding yourself for all your hard work is just bullshit. Gotta enjoy a little!
Whatever is left just sits in my “spendable” account and is used as needed. I feel like I’m pretty damn good at not spending carelessly. I usually have 70-80% of my “spendable” money carry over to next paycheck.
I WISH I was this financially responsible on my 20s….
First! Mike you are a great youtuber i have always aspired to be a man like you, i will surely try to be on a podcast with you
Mark.
I also will, that's a beautiful goal
In Australia good luck finding any middle class earners with rent alone less than 50%
50+% already goes to my shitty apartment let alone bills 😂 (I'm a flightline mechanic)
Awesome advice. I appreciate you sir!!!
I'm a 38 year old 600lb single man with 13 cats and 15 hamsters[I used to have 28 but the cats got to em] and this advice saved me from my diabetes because twinkies were definitely a want and now that I'm investing my twinkle money into Roth IRA my blood glucose levels are in tip top shape. Also now I'm debt free
Nah but twinkies taste nicer that money
Poor hamsters 🐹 😢
00:18 It's actually $10 001, or $10 028.4 if it's a leap year.
Rent Insurance bills and utilities only $1200?! 2:33 Dude’s insane
Riiiiiight!
Mark, you are a teacher worthy of the highest respect. Thank you
Im not sure if LEGO falls under wants or needs? 😆
Both. There also an investment 😂
@@charchar2267😂
Needs.
I watch your videos not becouse I have to but becouse I want to I enjoy these videos becouse they are made in a way anyone can understand them
@@AquaticCat647 hi, thanks for your encouraging words, that means a lot to me and my team. Hope you can get yourself financially free my friend. MT 😎
11:11 what to do if I am in Europe?
Hi Mark, my brand new RUclips channel, StoneLaunch, is now up and running. I’m focusing on ways to build wealth, and your channel has inspired me to jump right in. Thanks for all that you do!
I learned to do something similar later on in life. I was astonished at how rapidly my investment built up, when I put 15-20% of any "batch" of income, no matter where it originates, into an S&P 500 index fund. I'm making 14-15% so far on the invested money.
I wish I had started in my 20s. I'm 69 now... but I'm happy, regardless. 🎉
Thanks Jeanette. That's encouraging.
Any advice for an investing platform for Australia?
Thankyou
Mark - a totally brilliant video which I will be sharing with my daughter. More of these please. Thank you.
Thank u, daddy ❤
It is WILD how much these "little" daily needs build up over time and take up so much of our budget
Thx i will keep notes of it
I’m that one in five and I’m homeless at the moment just found this Chanel hopefully I can make a life my son will be proud of that’s all I want in this life
Thanks 🙏🏼
Every piece of financial advice I've ever heard is just like spend less okay moving on
Im 16 yo and I aint getting paid by my family,also they do not allow me to work so I am stuck in a loophole of being poor.
Excellence way of teaching
Love you from Punjab Pakistan ❤
You can also invest on stocks to earn more money. If you're interested you can also tell me
There are so many problematic things here lol. The real issue here is that people pay exorbitant rents, and fill the despair of their lives, because they know they don't have what they want and don't have the hope they can get it, by spending on bullshit trivial things. The issue isn't their habit it's the WHY of their habit.
You'd be debt free with avalanche method even faster because once you've paid off the $5000 loan you can then start putting $500 AND whatever you were paying for that loan into the $2500 one.
Thx
The first part of the video is easy for me - I basically have no social life, so I save a lot of money that way, but the other steps, I do not understand quite good in order to put money on them.
Thank you Lord Jesus for the gift of life and blessings to me and my family £14, 120.47 weekly profit Our lord Jesus have lifted up my Life!!! A. V
I'm favoured financially, Thank you Jesus £32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
She's a licensed and legitimate forex/cryp>to trader here in Manchester city.
Very informative I wish I could sit down with someone to talk about these things and help figure out financial
Within 30 secs 👇
So ? Does that make u millionaire?
Salary 1300€
Rent (the worst one you can get that is decent for living)+bills 420€
Food+whey proteins 250€
Boxing+gym=50€
Internet 30€
Clothes and shoes=maybe 30€ every month
That's 780€, so 620€ left
Gas 200€ a month
Car rent 120€ per month, so 300€ left
In a hope that my car goes on forever without braking, I'm left with 300€. That's without any going out, without fixing or registrating my car, without dinner, drinks, karting, bowling, etc. Not to mention international summer holidays for 2 or 3 weeks, it would take years to save for that. I actually realised I forgot to mention that you have to buy detergent and the other thing for washing clothes. Shampoos, hair gel, perfume.. It adds up
Saving for a coffee 0.6€ or not ordering a food for 5€ is NOT going to make me a millionaire. Getting a higher salary will. Problem isn't how much I spend, problem is how much I get paid. If I get paid more, I can save more. It's simple as that.
Its Not about that one coffee a week. Its about the 3 coffees every day. There are plenty of people with good salary which are just spending soooo much money everyday. Dont get me wrong, i am also more on the side of the, i will buy myself a red bull at the gasstation at 2 in the night for 4€ but i am also investing 40% of my salary. In the end you need to find a good middleground. Dont getting anything is stupid. You just stopped living at this point.
I would also do a Fund for emergancy
Thanks mark you’ve given me a lot of confidence to face my financial problems and take back a bit of control to reach my goals. Keep it up mate
His script is 🔥. I wonder if he wrote it himself?
😊 I am saving for a top notch RTX 4090 gaming PC build. By the time I have saved enough, there will be new generation and I will be saving for top notch build for that generation and ignore the past one. 👌 this strategy has worked for me since as long as I can remember 😂😂😂😂
Any tips on 18 year old trying to get an apartment with no credit, haven’t gotten a credit card only saved up my money till I was able to buy something
"You won't have to work any harder than you already do." Just give up every single thing you enjoy.
Why does everybody assume I buy coffee and food out of the house every day? Most people I know don’t do this..
I wish I knew most of the advice you give when I was younger. I’m 26 now but it’s never too late.
I don't need an emergency fund. I need constant great amount of passive income that I am not able to spend as fast as it flows.