when you live conspicuosly like a millionaire, you'll have all sorts of 'friends' and relatives (you never knew you had) and strangers, thinking that you should fund all their fun and lifestyles too (and then abandon you when it comes time to 'pay the piper' and your money and credit run out, then they'll be on to the next sucker!)
No ads, no selling something, just the straight-up truth. Thanks for that Andrei! It's all about time management. Unfortunately, "youth is wasted on the young" and often we are not able to appreciate this at the age in life when investing should start.
The fact that nobody cares about the book whispers of manifestation (AI written) on borlest speaks volumes about how people are avoiding getting thrown into a trance.
The video should be titled: How to become a elderly millionaire. From my understanding, compound interest is most beneficial when you invest in your early 20's.
it take about 50 years to get to 2mill and by the time 50 years passes inflation will have set in so heavy that 2mill will equate to around 300k. Might as well just spend your money on the things you like.
This is at the center of Asian mentality -- long term planning. My parents came to the US in the late 80s as dirt poor graduate school students, graduated in early 90s. Saved half of their paychecks (which admittedly is upper middle class being PhDs) and invested in the 401k and diversified portfolio, took early retirement mid 2010s. Less than 25 years worked, total net worth almost $4 mil. Power of compounding is very powerful, but the savings habit is just as important. The low savings rate in America is the main reason why most Americans can't afford to maintain the same life style during retirement.
I’d say it’s also lack of education and awareness on money. The average American isn’t set up to even have opportunities to invest. Especially those who are in low income and then struggling to find any work or support their parents at 14-18. Then you add in scams and MLM companies and it’s tough.
Are we going to glance over the fact that they never spent any money that they invested so basically it was scrimping and being frugal your whole entire entire life to give the money to people you don’t know
To all us entitled individuals. Andrei, this was a very (and very important) necessary video. Thank you for making us aware. Now no one cannot say they were never told when they're old and destitute.
I feel sad for the old folks who were so frugal and died with millions left behind. I would never want to be the one like that. Life is short work hard play harder.
@@Atrus999 actually I knew a few old people that lived that life .. major Penny pinchers ... But they had all the money they could ever want and need and they still had that mindset to save money to live that cheap life but they never struggled... And when they passed away they literally left all the money to their Church they had no family family members left to leave the money to. Definitely dad but it happens...
A divi millionaire!!!!🎉🎉🎉 Congrats Andrei. Watched your journey from the beginning and I appreciate what you do for the personal finance community! Genuinely entertaining and educational, every time. Inspirational.
I think people are missing the point here. You don’t have to live as frugal as the people he mentioned. He’s showing every day people that became multi millionaires. He said if you invest $600/month you’ll get there if you start early enough. Never did he mention not enjoying your life. Just living below your means.
@@AndreiJikh You mean if they lived on 90% , 75% or 50% their incomes like you most likely did at points "most Americans would be on track to a good retirement" Dude you can't be non aware of this issue because as YOU HAVE MADE MORE YOU COULD ALSO REACH HIGHER NUMBERS FASTER!!!!
Stay single, no family, kids or friends, eat rice and beans, wear the same t-shirt for 40 years, live like a hermit, and in 75 years give all you own. My Dream Life, how fulfilling it is to be a multi millionaire when you die 🙄
Answer is to spend less than what you make while you enjoy your life. Could be saving up for a rental property and increasing your income through that. Or having a side just a high paying job. It's not hard to be in the middle. Just don't be the extreme of saving everything and the extreme of being heavily In debt on debt
When I was younger I used to dismiss these videos as stupid. Who wants to wait 65 years to become rich? But the missing piece of the puzzle Andrei didn't mention is all the benefits you get along the way. Owning valuable things reduces your stress and anxiety, improves your credit rating, allows you to borrow against your assets, means you have something to leave your children, gives you the freedom to consider retiring early, changes your time preference from short term to long term and makes you more attractive. Don't underestimate the power of compounding. It's not about the destination.
Financial Freedom. The Freedom to do what you want when you want to do it. Help who you want when you want if you want. Fancy trinkets and gadgets and impressing people are not important to frugal people.
@devsimplified, your comment is what rich people call “poor mentality”. Rich people use their assets to generate what’s called passive income, while they appreciate in value, they also produce consistent income. They use their consistent income to fund their lives, while their assets appreciate in value over time. That’s how you get rich and get to spend money. Might want to educate yourself
Can't wait to become a millionaire at 70 years old, if I even live that long. I'm so down to live miserably for the next 50 years so that I can enjoy my last 10-15 years. Makes sense.
@@kylebanks13 not only that, but I don't see how people can't think of future generations having that money. Treat yourself occasionally, sure. Enjoy it but don't blow it. My one desire is to pass on inheritance that will make my kids lives easier, so they can relax and do better than I did, so they can continue to pass on the wealth and build it generationally and hopefully have enough one day to do something that will make a positive difference in the world.
The issue here is your mentality. You think saving is living in misery. That you absolutely need those few hundreds every month to enjoy life. I have a 2k foldable phone, just dropped 2k last month on a motorcycle, still manage to save at least 10k a year from a 40k job. I can buy anything I want without going in debt, and I'm happy with my life. I just make the right sacrifices, I'd rather live in a Tesla on a plot of land than pay over 40% of my paycheck on rent, so I always find a good deal, or get roommates, or even pay rent to live in my parents house if the option is available. And I have hundreds of thousands invested. I just absolutely refuse to waste money on rent, the same way you refuse to save.
This should be a lesson for 5th graders, and should be repeated throughout all their studies… start investing as soon as you get any money, stop looking at the shoes, the cars, etc… build wealth and help your future generations to continue building on top of it…
That was one of the best videos of yours, Andre! You are the best! Thank guy for not trying to sell us anything. It makes you more legitimate and honest!
As usual we need to understand, Andrei made his fortune because he found his passion and started a youtube channel. If you want the same million he just achieved, find your obsession and make a youtube channel talking about it.
Sure! They saved money by living below their means, probably counting every penny. In the end was it really worth it considering they lived like rats just to leave the furite for someone else? By definition, legacy is not to be enjoyed by the person who accumulated the wealth.
Whats the point of investing all this and only to reap to benefits when ur on ur death bed tho... seems like a selfless act for your grandkids and not yourself 😢
You are looking at life through a spenders mindset, Try imagine life through a savers mindset. Frugal people enjoy being frugal. Financial freedom brings more joy to a frugal persons life than buying random things to try impress people who don't matter to that person anyways. Frugal millionaires don't care about big houses, expensive cars, private jets ect. The choice to work if you want to work or raise your grandchildren, go to the beach on a Wednesday or do whatever you want when you want to do it. Financial Freedom.
Andrei, do you have any advice for people like myself that are getting a late start in life? I’m currently investing, but at 64 years of age, I don’t see myself becoming a millionaire. Thoughts and ideas? Thank you.
Assuming you are debt free you can still enjoy financial freedom with less than a million dollars in retirement, Going for walks, visiting friends, playing cards, getting a library card are all essentially free. Living a frugal retirement. If you need to keep working for a couple years get a job that you actually want to do even if it doesn't pay well. If you want to travel, get a larger house, fancy car, eat at fancy restaurants all the time, drink fancy wine to impress the neighbors sadly the time for your compound interest has ended and this lifestyle might not be in the cards for you. ( I wouldn't want it anyways. )
I know compound interest takes time many years as we see but it’s like a long term safety net one can build. Just maintain it and keep investing go automatic to auto transfer from a bank account and forget it.
The book unshakable by Tony Robbins has a good story like this about a guy who worked a regular job at Fed ex and just put a much money into etfs as possible over the years still got married still had kids and ended retiring a millionaire
Glad you making this. It’s been a while since your investing vids. So awesome seeing it grow and your insight. Now that you made it, glad you’re making a new how to.
I just feel sad that these people saved all this money but died never seeing it or enjoying it. I think this is why the "spend it while I got it" group is so big. I assume the best balanced answer is between the two.
Yeah such CR*P He knows better because he knows his numbers which he is slow to tell all us!!! But consider this having mindset people watch the video might bring in more dollars than having people who ask hard questions and don't watch.
Congrats on reaching $1M 🎊🎉💯😎✌️ Can you consider making a "Road to $1M Timeline" video? 👀 Things you did, why you chose those investment(s), wins/losses, and what you learned along the way? 📈
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
But, I don’t want to die a millionaire, I want to live a millionaire.
Millionaires don't become millionaires by living like....millionaires.
@@AndreiJikh dang bars
You will never be a millionaire with that mindset, so you might as well give up. Or change your way of thinking
when you live conspicuosly like a millionaire,
you'll have all sorts of 'friends' and relatives (you never knew you had)
and strangers, thinking that you should fund all their fun and lifestyles too
(and then abandon you when it comes time to 'pay the piper' and your money and credit run out, then they'll be on to the next sucker!)
😂
No ads, no selling something, just the straight-up truth. Thanks for that Andrei! It's all about time management. Unfortunately, "youth is wasted on the young" and often we are not able to appreciate this at the age in life when investing should start.
Congrats on hitting $1mil!! I just hit $100k in my my 401k a couple months ago.
Well done! You're starting to get some real momentum
i hit 100k a year ago. turning 42 this year
Congrats!
Congrats!! I hope you celebrated and got some pizza!
Ah yes the famous company pizza party because they can afford a raise@AndreiJikh
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
The fact that nobody cares about the book whispers of manifestation (AI written) on borlest speaks volumes about how people are avoiding getting thrown into a trance.
@@InsightMemes Average Doge W
The video should be titled: How to become a elderly millionaire. From my understanding, compound interest is most beneficial when you invest in your early 20's.
"All you have to do" = 65 Years 😂😂
it take about 50 years to get to 2mill and by the time 50 years passes inflation will have set in so heavy that 2mill will equate to around 300k. Might as well just spend your money on the things you like.
The sooner you start the better. Compound interest is your best financial friend.
ikr
That time is going to pass anyway
@@chozen_juanStocks stay ahead of inflation
This is at the center of Asian mentality -- long term planning. My parents came to the US in the late 80s as dirt poor graduate school students, graduated in early 90s. Saved half of their paychecks (which admittedly is upper middle class being PhDs) and invested in the 401k and diversified portfolio, took early retirement mid 2010s. Less than 25 years worked, total net worth almost $4 mil. Power of compounding is very powerful, but the savings habit is just as important. The low savings rate in America is the main reason why most Americans can't afford to maintain the same life style during retirement.
I’d say it’s also lack of education and awareness on money. The average American isn’t set up to even have opportunities to invest. Especially those who are in low income and then struggling to find any work or support their parents at 14-18. Then you add in scams and MLM companies and it’s tough.
Are we going to glance over the fact that they never spent any money that they invested so basically it was scrimping and being frugal your whole entire entire life to give the money to people you don’t know
Best RUclipsr only RUclipsr doesn’t sell anything and doesn’t push anything honest. Anyone could do it safely and regardless of how old you are.
To all us entitled individuals. Andrei, this was a very (and very important) necessary video. Thank you for making us aware. Now no one cannot say they were never told when they're old and destitute.
Well said!
I feel sad for the old folks who were so frugal and died with millions left behind. I would never want to be the one like that. Life is short work hard play harder.
They lived the life they wanted ... Only person who is sad is you .
@@Willis-de5hx You don't know that.
1000% agree
@@Atrus999 actually I knew a few old people that lived that life .. major Penny pinchers ... But they had all the money they could ever want and need and they still had that mindset to save money to live that cheap life but they never struggled... And when they passed away they literally left all the money to their Church they had no family family members left to leave the money to. Definitely dad but it happens...
@@Willis-de5hx I never said it never happened, what I said was you don't know that they lived the life they wanted.
Your magic tricks are definitely attention-getting. Love the video from start to end. Great information.
A divi millionaire!!!!🎉🎉🎉
Congrats Andrei. Watched your journey from the beginning and I appreciate what you do for the personal finance community! Genuinely entertaining and educational, every time.
Inspirational.
Thanks so much!!
answer: live rent free, steal food, and don't buy anything for the rest of your life 👍
Aladdin?
@@AndreiJikh essentially, yes ... and I'm sure our Jasmine will come along any day now
This is still feasible in modern day house hack & shop lift😂
Looking homeless at my favorite coffeeshop is not really my thing
I got the rent free part. I live in my trailer with a solar system and free water from the city😊
Given enough time, anyone can do this. But, some of us are way past the point where we have enough time left.
This is my issue. I've only been investing on my own for a couple years but I don't have 30-50 years. Unless by some miracle...
Exactly. What is the advice for his parents?
Then you either accept the reality that you will never become a millionaire. Or you take a lot more risks.
Do you have kids? Make sure they don't make the same mistake and start early
@@FIR2031 and don't forget that you can have them as beneficiary.
I think people are missing the point here. You don’t have to live as frugal as the people he mentioned. He’s showing every day people that became multi millionaires. He said if you invest $600/month you’ll get there if you start early enough. Never did he mention not enjoying your life. Just living below your means.
EXACTLY.
Yep! Not surprised. If this message resonated with people, most Americans would be on track to a good retirement. Unfortunately that's not the case
@@AndreiJikh You mean if they lived on 90% , 75% or 50% their incomes like you most likely did at points "most Americans would be on track to a good retirement" Dude you can't be non aware of this issue because as YOU HAVE MADE MORE YOU COULD ALSO REACH HIGHER NUMBERS FASTER!!!!
Congratulations!!! Have been following for a few years now. So excited for you!!
Thank you for this Andrei. I LOVE how you think of, care about and work to help the ‘common man.’ God Bless You!✨
My pleasure!!
Love your light hearted care free disposition. Thanks for sharing.
Stay single, no family, kids or friends, eat rice and beans, wear the same t-shirt for 40 years, live like a hermit, and in 75 years give all you own. My Dream Life, how fulfilling it is to be a multi millionaire when you die 🙄
Savers enjoy saving money. Financial Freedom is worth more than spending a million dollars.
@@curtfromcanada6988not when ur dead😂
Answer is to spend less than what you make while you enjoy your life. Could be saving up for a rental property and increasing your income through that. Or having a side just a high paying job.
It's not hard to be in the middle. Just don't be the extreme of saving everything and the extreme of being heavily In debt on debt
@@lolu5334 Thats so dumb, materialism wont mean anything when youre dead either
OK then stay poor
Congratulations on your $1 million! I'll catch up to you one day. 😂
When I was younger I used to dismiss these videos as stupid. Who wants to wait 65 years to become rich?
But the missing piece of the puzzle Andrei didn't mention is all the benefits you get along the way. Owning valuable things reduces your stress and anxiety, improves your credit rating, allows you to borrow against your assets, means you have something to leave your children, gives you the freedom to consider retiring early, changes your time preference from short term to long term and makes you more attractive.
Don't underestimate the power of compounding. It's not about the destination.
This video gives a lot of hope, Andrei!!
Thank you for showing the truth 🔥🙌🏻
I love these inspirational stories of regular people achieving such amazing things! 😊
I'll have enough money to enjoy life, right at the end of my life when I'm too old to enjoy life.. Wonderful.
Hey Andrei thank you for the video
My pleasure!
whats the point of getting rich when you cant even spend it...
Who said you can't? The examples choose not to but they could have
Financial Freedom. The Freedom to do what you want when you want to do it. Help who you want when you want if you want. Fancy trinkets and gadgets and impressing people are not important to frugal people.
@devsimplified, your comment is what rich people call “poor mentality”. Rich people use their assets to generate what’s called passive income, while they appreciate in value, they also produce consistent income. They use their consistent income to fund their lives, while their assets appreciate in value over time. That’s how you get rich and get to spend money. Might want to educate yourself
When people say they want a million dollars, what they really mean is "I want to spend a million dollars"
You can spend. Just wait until you have at least a acpuple of million
Another great episode!! Inspiring to those of us who save like crazy. Thank you!!
I flip burgers at McDonald's for $20 an hour. I'm on my way to financial freedom
That's all you need! 😸 - No joke.
Same. 58 years old. Just started this year. 40k net worth.
Start with 401k. Then Roth IRA. Eat scraps at work and invest every paycheck.👊
Your money is theirs lolololol😂. Funny guy Andre
@@alln5739
58?
What have you been doing all these yrs?
This video was one of my favorite from Andrei. So good.
Best youtuber! Well detailed and concise
this was a great episode Andrei! love the perspectives and the numbers
Can't wait to become a millionaire at 70 years old, if I even live that long. I'm so down to live miserably for the next 50 years so that I can enjoy my last 10-15 years. Makes sense.
Have fun working until you die because you didn't save any money for retirement.
@@kylebanks13 not only that, but I don't see how people can't think of future generations having that money. Treat yourself occasionally, sure. Enjoy it but don't blow it. My one desire is to pass on inheritance that will make my kids lives easier, so they can relax and do better than I did, so they can continue to pass on the wealth and build it generationally and hopefully have enough one day to do something that will make a positive difference in the world.
Its worse to be in your 60s with not a single cent.
@@bigcauc7530 this is called a Legacy Trust .
The issue here is your mentality.
You think saving is living in misery. That you absolutely need those few hundreds every month to enjoy life.
I have a 2k foldable phone, just dropped 2k last month on a motorcycle, still manage to save at least 10k a year from a 40k job. I can buy anything I want without going in debt, and I'm happy with my life. I just make the right sacrifices, I'd rather live in a Tesla on a plot of land than pay over 40% of my paycheck on rent, so I always find a good deal, or get roommates, or even pay rent to live in my parents house if the option is available. And I have hundreds of thousands invested. I just absolutely refuse to waste money on rent, the same way you refuse to save.
Andrei - you’re awesome! Congrats!
i stopped by for the MAGIC 🤩🤩 Andrei you always Bless your viewers with Gems💎💎and your magic tricks are BOSS! may GOD Bless YOU 🙏🏽
This should be a lesson for 5th graders, and should be repeated throughout all their studies… start investing as soon as you get any money, stop looking at the shoes, the cars, etc… build wealth and help your future generations to continue building on top of it…
Congrats on your million portfolio I’ve been following you when your portfolio was at 180k congrats man 👏
That was one of the best videos of yours, Andre!
You are the best! Thank guy for not trying to sell us anything. It makes you more legitimate and honest!
"Your money is theirs = the IRS"... theIRS.. mind blown
Yeah
Congrats on hitting the 1m mark on your Robinhood account! Iv been following for a while and I can imagine how much this means to you!
Thanks so much!!
Congrats Andrei! Watching since 2019
First! Liked Andrei. And I wish also a nice day everyone who is reading this ❤
As usual we need to understand, Andrei made his fortune because he found his passion and started a youtube channel. If you want the same million he just achieved, find your obsession and make a youtube channel talking about it.
Time, experiences and memories are priceless and way more precious than 1, 8 or 12 M after 70 years. You can build your wealth but still enjoy life...
Sure! They saved money by living below their means, probably counting every penny. In the end was it really worth it considering they lived like rats just to leave the furite for someone else? By definition, legacy is not to be enjoyed by the person who accumulated the wealth.
He's giving extreme examples. Save what's tolerable for you.
The magic is getting elite. Soon you'll need to create an entire channel full of magic 😊
Whats the point of investing all this and only to reap to benefits when ur on ur death bed tho... seems like a selfless act for your grandkids and not yourself 😢
Read my mind
Have fun working until you die because you didn't save any money for retirement. Or are we just ignoring that part?
You are looking at life through a spenders mindset, Try imagine life through a savers mindset. Frugal people enjoy being frugal. Financial freedom brings more joy to a frugal persons life than buying random things to try impress people who don't matter to that person anyways. Frugal millionaires don't care about big houses, expensive cars, private jets ect. The choice to work if you want to work or raise your grandchildren, go to the beach on a Wednesday or do whatever you want when you want to do it. Financial Freedom.
Stop being selfish and give your kids a future
Buy bitcoin for 15 years every month, the hardest asset ever
Every month for 15 years?
Long live BTC.
It wasn't really sold by anyone early on.. People were giving it away for basically free, like filling a text captcha, such a missed opportunity.
There is no point in living like a begger only for the sake of dying as a millionaire.Undeniably, saving makes more sense than taking on debt :)
You also have to have a stable career for all the time, which is less likely today with all the random layoffs due to economy downturns.
Great vid thanks for the advice !
The answer is to save, invest, and have wealthy parents who give you a small loan of a million dollhairs 😊
HANDS DOWN best explanation of compound interest I’ve ever heard 👏 and comically stated 😂
Congrats!!! ✊️😎
Great money gags!
I'd definitely make this video a compulsory lesson at school. So simple, so great, so true.
Andrei, do you have any advice for people like myself that are getting a late start in life? I’m currently investing, but at 64 years of age, I don’t see myself becoming a millionaire. Thoughts and ideas?
Thank you.
Assuming you are debt free you can still enjoy financial freedom with less than a million dollars in retirement, Going for walks, visiting friends, playing cards, getting a library card are all essentially free. Living a frugal retirement. If you need to keep working for a couple years get a job that you actually want to do even if it doesn't pay well. If you want to travel, get a larger house, fancy car, eat at fancy restaurants all the time, drink fancy wine to impress the neighbors sadly the time for your compound interest has ended and this lifestyle might not be in the cards for you. ( I wouldn't want it anyways. )
Great explanation. I started at 68 and who knows maybe I'll come close.
Nice content, Andrei, as always! You should definitely check out the meaning of your right-hand gesture at @14:35 among the Turks :)
DCAing baby!
Great content, as expected. Please, kee it up. Cheers
hi andre I like your videos my first comment
Hey, thanks!
One the best financial video out there! Thank you ❤
I know compound interest takes time many years as we see but it’s like a long term safety net one can build. Just maintain it and keep investing go automatic to auto transfer from a bank account and forget it.
What l need to know is “how to become a millionaire before age 45” NOT 65😳😳
Make your Money Work For you
whats the taxes on that after you sell????
How To Become A Millionaire, make videos about how to make money, selling people the dream.
Come for magic stay for the finance 😅, great video as always 🎉
0:27 I NEED to learn that!
0:18 Key phrase: Hidden Cost on Our Wealth
Nice video. I'll be showing to my kids.
The book unshakable by Tony Robbins has a good story like this about a guy who worked a regular job at Fed ex and just put a much money into etfs as possible over the years still got married still had kids and ended retiring a millionaire
We Got This Guys, Let's Start Taking Action Right Now !
Live life and save money!
It's kind of like walking and chewing gum at the same time. 🙂
4:00 Walked to school in the snow up the hill both ways sounds like a classic from @StevenHe. You two should collab. Would be a great show
Congrats andrei!
thank you andrei, i am from india
Gotta admit, some great value in this video 👏🏾
Glad you making this. It’s been a while since your investing vids. So awesome seeing it grow and your insight. Now that you made it, glad you’re making a new how to.
Appreciate it!
I just feel sad that these people saved all this money but died never seeing it or enjoying it. I think this is why the "spend it while I got it" group is so big. I assume the best balanced answer is between the two.
ALL YOU HAVE TO DO is say all you have to to do! Then anyone who disagrees is holding themselves back and doesn’t understand compound interest!😂😂😂
Yeah such CR*P He knows better because he knows his numbers which he is slow to tell all us!!! But consider this having mindset people watch the video might bring in more dollars than having people who ask hard questions and don't watch.
My coworker put 30% each week to his 401k, had a million at age of 52 and retired. Now I put 20% into my 401k and head towards the right direction
This was a really fun video thanks Andrei. Also epic thumbnail
Absolutely no point being the richest person in a cemetary!!!
The walk to school in the snow and the IRS joke 😂
What happened to the doge millionaire dude, any updates?
Brutally honest, like it 👍🏾.
What to invest into?
I know exactly where u got that title and thumbnail from :)) good one
Keep up with the magic tricks LOVE your videos 😊
Hahahahaha... good video Andrei... you had fun making this video clearly...
Congrats on reaching $1M 🎊🎉💯😎✌️
Can you consider making a "Road to $1M Timeline" video? 👀 Things you did, why you chose those investment(s), wins/losses, and what you learned along the way? 📈
Congrats 🎉
Awesome, I'll be rich 5mins before I die
I love you Andrei
Great video
You have 6:00 really worked Andre well done man 👞♂️
Is it safe to trust Robinhood with that much money?
One off best vidoes yet 👌
Congratulations!!! You are an inspiration.
Thank you so much!