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It's been said by a lot of people before Gary Vee or Dave were even born? Will Rogers said this nearly 100 years ago and I doubt he was the first; it's a simple concept that would have been said many a time by many a people ...
Stopping drinking is the best advice on here. I stopped 6 months ago and I’ve been more productive then I ever have been. 3 businesses so far, life’s looking good👀
I stopped drinking basically after I turned 22. I just never really liked it and I had family members with drug abuse problems so I guess I naturally avoided it and anything else. It's definitely contributed to the success I've had as I feel like the people around me who do drink or smoke are rapidly dropping in intelligence, that or I feel like I'm surpassing them while they are stagnanting.
I will disagee with the house one. I think it depends where you live. The house I bought in 2020 has gone up 47% in value since I purchased it. That is more than a 200% return on my down payment over 3 years. It also costs less to pay my mortgage than to rent an apartment. When I move, it will become a rental property.
After buying the house one doesn't recognise how much he/she paid for expense,tax,bill, maintenance for that house,even the car that is vital for transit.
If you are Millennial or Gen Z don't buy these 7 things: 1. Food 2. Clothes 3. Medicine 4. Tooth paste 5. Cotton buds 6. Soap 7. Deodorant Buying any one of these items EVEN ONCE may mean you will never financially recover or ever be able to afford a deposit for a house.
Brother, I am 16 to 17 this year, and I literally need to buy my food and all that things, my mom works everyday and when she arrives at home, she is so stressed and tired to buy these things, so I need to buy them, plz tell me how I minimize these expenses, because here in Spain, the food is easily x2 expensive compared to 5 years ago and my income is low as fuck because Spain is all tourism and they dont want young boys.
U are right, food is a luxury, buying groceries will lead you to bankrupcy these day. One has to be very careful.The prices doubled here in Europe since 2022. I d be better off starving than paying them enemourmous sums for food. Yesterday I was lucky, i got a slice of bread for 5 euros, thats super cheap.
There's a reason why one of the most valuable asset a person can acquire is knowledge. Thank you Mark for all the information you are giving us younger generation.
@@lullemans72 Time matter but knowledge is important too. there is a reason why young of former entrepreneurs manage to become successful entrepreneurs themselves at a higher rate than the young person coming from a non-entrepreneurial background. Because the knowledge transfer from their parent gives them a leg up in the game. Now nothing can replace ambition. A guy in the ghetto (50 Cents) with a big ambition can almost get anywhere. I believe ambition is the real stuff that matter. You can mentor a lot of people carry other rappers on your back like LLyod banks but if the dude is lazy and lack of ambitions even if he is talented he will not go very far. Ambition times talent = success. 00/10 ambition times 10/10 talent = 0 success . 10/10 ambition times no talents = 6 to 7/ 10 success. 10/10 ambition times 10/10 talents = the sky is the limit success 20/10 success ( elon musk )
It blows my mind Mark that you need to tell people this. I see people spending $25k/$20k GBP a year on property taxes and buying a new car every three years that is half their salary, no money down, 10% loan for 96 months. Complete buffoonery. It’s actually sad how the “system” takes advantage of the financially incompetent.
@@SpeedbirdHeavy I pay $2k USD which is $1.5K GBP. Being in a capitalist country, I don’t know anything about a one size fits all approach “stamp” approach. The tax rate is based on the value of your home. In this case, I live in a small condominium. I don’t know if England has those. It’s kind of like an apartment you own…
@Golden Manuever ah right, so you're in the US. That makes sense now. The UK does have those, it's just a different name. It's also a capitalist country! Just a different way of taxation - you're taxed in one hit, when you buy. And this is also based on the value of the property.
In Hungary we have a 4% “buying fee” what is a one time payment after a house. After 2$ million it is reduced to 2%. The maximum amount of tax you can pay is 500.000$ , no matter the price of the “house” USA is maaad 😅
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
Their ...services are very genius and experienced in the market for over a decade and counting, they changed my life from a poor plumber to a better and middle class family man with 2kids.
Most people are retiring this year and has nothing to show for. But I assure you it's never late to get your financial life together again.. All thanks to Charlotte Grace Miller for I and my family
Status is not equal to wealth. Those who look like they have money (fancy cars, designer clothes & accessories, etc) are actually not wealthy. Some of the wealthiest people I know dress like they look poor and they don’t care.
Agreed. That's because wealthy people know what to do with money and don't waste their time impressing others by spending it on ridiculous things. Also if you look poor or are more modest, it's a testament to people's true nature as you'll see how they treat you.
@@AudieHolland i'd like to be very rich simply to defy the social and material system and test people's character. Second hand, modest everything, nothing flashy whatsoever. Even if I had millions. In fact I'd rather live this way so I could give more to charity and those that need money to improve things as material things are worthless really in the long run. I like things like movies and video games but that's entertainment I will use and would certainly never spend money on something ridiculously expensive or throw it out. In the long run of this experience of life, health and people are the most important things so the money would go to that. But I'd really like to test people's character, would they treat me well seeing my modest life not knowing I had lots of money? That would be very interesting.
Advantage of buying a house - in my country - is that profits are 100% tax free. On the other hand we pay up to 42% tax of stock profits. So, I think it depends on a lot of personal factors.
Great advice - especially about not drinking alcohol! I've never drank the stuff. Made a decision early in life not to follow the crowd. I've saved thousands of pounds over the years. It doesn't stop me having a good time and I'm so much fitter and healthier as a result....and financially independent at 54.
If you find yourself devoid of ambition, it is only then that you shall mindlessly conform to the masses. It is imperative that you possess a clear vision for your own self, and if you are wise, you shall refrain from acting in opposition to your own interests. Self-respect, self-awareness, and a resolute drive for success-such qualities are inherent to certain individuals. One word : ambition.
Moderate drinking also does not stop you from having a good time. This is a good advice if you know you can't handle yourself. If you have a glass of red wine with lunch or dinner, it does not cause any of that shown in the video. It might make a better meal.
@@virtualmjrsorin5872 He does rather miss the point that it’s the social aspect of drinking and letting others spend your money by obliging you to join in or be deemed a party pooper, that’s the issue, not alcohol per se.
I'm retired and if I didn't own my house, I'd have to pay $800 a week to rent it. That's a big advantage at a time of life when your earning options are hugely reduced.
Hi, I agree owning your own home is fantastic! When you choose to buy it is what’s in question and how much money you lock up. If you deposited $100k on a house and that’s all the money you have 10 years latter you will own part of a house. If you invest that $100k in your own business you have the chance For that to be $1mil $2mil in 10 years. Then you can buy three of four houses ! That’s the lesson . Thanks for watching MT 😎
His point isn't about not buying a house. For most people it's the better option. What he is saying if you want to be rich, like worth $10 million by 40 rich, then you need to take risks and buying a house will lock up a lot of money that you need to be risking in a business venture to get there
@@Sc9cvsd I think Mark already explained his own point perfectly well thanks (see his response). My own point was to illustrate the benefits of owning a house later in life, which people of Mark's son's age might not be thinking about.
Made the same mistake. Bought in 2015 and had it paid off by 2021. If I rented and put the delta into the S&P500 I could buy this same house 4 times over in cash today. At least I have a house but it was the worst idea to pay it off so aggressively 😢 I have time on my side 43 now
i pretty much agree with all of this. when i was younger my dad told me to buy a house; which i did, but only as an investment property. i then leveraged this property to buy another after a couple of years. it has allowed me to live a decent life, 20 years later.
If you have a stable home environment with highly supportive parents this works. If not, you need a roof over your head, which can drain your income. It’s all far easier at home with no bills and easier still with parents who support your entrepreneurial spirit.
@@brynleytalbot778 this is true. This is weakness of western society. Kick their kids out when they are 18. Immigrant family consolidate resources to help next generation
@@derekhayter4879 yea you are correct. It means that you need to be even more motivated to get into the ladder. It’s very hard now and parents need to start thinking about how they will get their kids onto the ladder. My kid is 10 and I have already started putting money away for when he is older
Love the four week rule 😂 You’re absolutely right. In my experience I’ve learnt that if a woman likes you, she likes you. You don’t to spend loads or anything at all! I’m not a millionaire, though… 🤔
I also prefer renting because, at least in the Netherlands, renters are VERY well protected, and realistically if I wanted to leave, I could just pack up and go instead of dealing with selling
Millionaires are made in crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 2months, and it would really help if you could make a video covering these strategies.
The strategies are quite rigorous for the regular. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, before the pandemic got real serious, I used to handle all my investment and I was pretty good at it, fast forward to post-pandemic and my-portfolio is steady in the red with profit rate down to the lowest, that's when I touched-base with a coach I saw featured on businessweek, who restructured my portfolio and over the last couple years, I've made over $850k from initially $210K
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
Well i won't say i have........His name is "Jackson Sten Marsh" can't divulge much. Most likely, the internet should have his basic info, you can research if you like
Thank you for this tip. it was easy to find your coach. Did my due diligence on him before engaging his services. He seems proficient considering him résumé.
Not quite "rich" yet but getting to first mil - 2 huge influences for me.. 1) the book "How To Get Rich" buy Felix Dennis is truly superb advice and actually very thoughtful. 2) "Superfreakonomics 2 - think like a freak" has a lifechanging chapter called "Teach the garden to weed itself"
The house scenario depends on where you live, im in an area where prices keep rising, value of last house went up 90k in 6 years, current is up 40k in 2 years
Of the 9 houses I’ve owned in the past 38 years, the selling prices add up to $354,000 more than the purchase prices. After subtracting for guesstimated repairs and closing costs, then adding-back estimated tax savings, I suppose I’m SLIGHTLY ahead. The best I did was $289k purchase in 1993 with a sale of $850k 12 years later. The worst was the purchase of a house and a VRBO ski cabin in 2006 for $1,560,000 and $1,250,000, then selling them in 08 for $1,050,000 and $850,000. According to Zillow, those two houses are just now priced at what I paid for them 17 years ago……just before the last big crash. The economy is overdue for a crash. If you’re young and would need to borrow money to buy a house, I’d suggest holding off. OTOH, I have done very well with warehouses that I’ve rented to others for 20 years or more, and not so well on ANY get-rich-quick investment from clapping hats, an oil well, promoting rock concerts, stock options, aa vending business, etc.
Hi. WOW what a break down, the ski cabins were definitely a big hit in your pocket that’s for sure. But overall balancing out your investments seems to always be what works. Thanks for the comment. MT 😎
I bought my house during the real estate bubble of the 1980s. Fifteen years later it was still worth less than I paid for it. I have a friend who bought his house in CT for a little over a million dollars in 2005. He sold it 14 years later for $835k.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It can be. Depends on the market. I know one person that netted $500k on their personal property strictly by buying in Tampa before COVID. MY sister made $100k on a house she bought and sold in three years in Denver.
I went from a net worth of $20k at 26 to a multimillionaire now at 34 because of real estate. Real estate is the best investment even at these prices in my opinion
Honestly I think it’s the best investment I’ve ever made. I live in the netherlands and bought my home 3 years ago for €225k. I had to make a deposit of €47k, leaving me with a mortagage of 189k (had to pay taxes etc) at 1.38%. Currently the mortage is only €173k and it’s worth about €320k. So it’s made me nearly €100k in only 3 years! Just by living in my house and paying a really low mortgage payment every month.
That what I tell my friends everytime, don't go for a girl and spend time, energy, money that is not going to be your future wife. And they tell me they can't help it without a girl in thier life. I think that was the best advice you gave, being single= being 100% focused on your goal, so you would reach it faster, and your relationship will be more and more stable. Also I find it cute that you like every comment 🤣🤣😍😍 pin me please 🤳🤳
Not buying a house will be only beneficial if you save and invest religiously over decades just as you would paying a mortgage….I know very few people who could sustain that….including myself. So it’s also about being realistic about yourself.
Bought a property a long time ago. Sold it a few years later for way more. Took the money and bought a ferrari. With the car I got to meet so many new and interesting people that I could expand my business so much that i wouldn’t need to worry about anything anymore.
I paid off my home during the GFC in 2009. It was simpler brick rambler with very low upkeep costs and I paid $1,000 a year in property taxes. You can't believe the peace of mind that gives. Then, you can't believe how much money you have to save / invest every month without a mortgage payment. The paid off house gives you something to fall back on if you lose that job or want to reinvent yourself for another line of work. It is freedom. The other points, I agree with.
Agree 100% but…….Made the same mistake as you. Bought in 2015 and had it aggressively paid off by mid 2021. If I rented and put the delta into the S&P500 I could buy this same house 4 times over in cash today. At least I have a house but it was the worst idea to pay it off so aggressively 😢 One do need at least one house to live in unfortunately.
@@fvlok Paying off my home in 2009 at the near lows of the stock market was an even worse financial decision when comparing what I could have made investing. Of course, at the time, it seemed that the world was ending and looking back in hindsight it is easy to think, "What if". I am still doing it with my new home - aggressively paying it off, even while the SP500 and tech has been roaring these last four years. It is in my DNA to be debt free I suppose.
About drinking, I do agree: do NOT to drink till you are drunk. It is a terrible idea and bring nothing positive. However I do drink a glass of red win almost every day. This is perfect during a dinner, don't make your drunk and have no real drawback.
I AM PRESIDENT TRUMP STOP DRINKING STOP DOING DRUGS AND NONSENSE YOU DON'T NEED ITMAY GOD HAVE MERCY FOR MY ENEMIES BECAUSE I WONT WHEN DO YOU PLAY THE TRUMP CARD   TREASON!!! YOU DO KNOW I HAVE THE NUKE CODES AND THE FOOTBALL HAPPY NEW YEAR !!!!! THE BEST IS YET TO COME!!!!! WHEN DO YOU PLAY THE TRUMP CARD!!!! Until the world sees the TRUTH! “I was right about a lot of things and I’ll tell you this, I’ll be right about the election.” - 45 IT WAS NOT EVEN CLOSE!!!!! AUDIT ALL THE STATES!!!!! DEEP STATE CAN KISS MY ASS!!!! I HAVE NOT conceded the election! This is very important for what comes next. You see, if AZ decertifies their results the ENTIRE election is now in question. Congress cannot certify election until ALL states have certified. Just like a state cannot certify unless 100% of their counties certify, the same is true of a national election with the states themselves. As Trump hasn't conceded, he now has a right to contest the entire election and that will mean the remaining 49 states will have to conduct a full forensic audit as a result. Why do you think so many states are visiting AZ for the audit right now, including states that supposedly already went Trump and didn't have contested election issues? They know what is coming. Do you all remember prior to the 2018 election Trump signed an EO13848 making national elections a matter of national security? >>>Now put two and two together. If even ONE state shows fraud it calls into question the results >>>of the entire election. Being a matter of national security now puts it under the purview of >>>who as forensic audits are done state to state? If you answered the military you are on the right track. I AM COMEING THE BEST IS YET TO COME!!!!That means they're playing along with Trump and im in control they've already given Trump back his power they've already reinstated him they reinstated them recently
I disagree with the house thing. Yes, you can start a business instead. But businesses bring either profit or loss. You rarely loose on not paying a rent.
We are suffering in the Turkey due to high inflation. If I couldn't buy it today, it would be expensive later. So everyone thinks buy today even you have debt for it. In the worst stution, you will sell it. It will be more expensive than yesterday. So many people are buying house, land, car, phone etc. I do not. It became like I couldnt afford an average car or an average phone. I became poor. They became rich. What should I do?
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Good points, but i disagree about not buying a house to live in. They always seem to increase in value over the long run and so if you don't buy one asap you'll effectively be chasing a moving target.
A very insightful video. Incredible eye-opening information, until I realized that I already was not buying any of the things listed and I still did not get rich, and I am broke asf.
The house thing is not the same for everyone. I am US Army military veteran with a VA rating. It cost me almost nothing to buy a house, which then starts building equity and, in fact, doubled in value in the 10 years I have owned it at a low interest rate. It has actually allowed me to save a lot of money since from when I have had it, it has always been cheaper than renting.
I agree if it doesn’t cost much, much better to own your own property imo. I’m wondering whether Mark was thinking of house prices here in the U.K.- land is more a premium here than in the US so house prices can be very high and then you’re saddled with a huge mortgage and no spare cash to invest in anything else.
Stopped watching after 2:30. Of course, the rich who own large real estate properties, wouldn't want the middle class to buy a house for living. 'Cause they are renting it from them. And they would want to pay that rent till the end of their lives, because this way they keep both the house & rent. Pay mortgage to the bank till the end of your life, and your family at least will have a house.
No I agree with buying a property to rent out, or even as your own when you are older… just not in your younger years if you are looking to be rich. MT
Thank you Mr. Tilbury for sharing your knowledge with us through your RUclips channel, you have inspired me to go on my own financial journey to become a Multi-millionare!
Some advises do really not apply to specific places. Baught a house in 2014 in Paris suburbs to live in, sold it in 2022. Prices did x2 in 8 years, so I could pay back the whole mortgage + getting a lot of benefits. And for my car, the inflation is so high that for the frist time in my life I could sell it 3 years later the same price I did buy it.
My house payment is much less than any rental property in my area. And with the rise of interest rates and inflation, my property value has more than doubled in the 20 years I have owned it.
Any $150 - $180 android phone is good enough for everything. You dont need an Apple a phone is just a thing with apps and icons you tick. I had apple, Android and Microsoft they all worked fine and you can migrate photos / contacts.
Acquiring stocks has been a problem for me as I never know what to do next, I have a portfolio of 200k and I just watch it decline, any suggestions Mark?
I work in real estate and also run a business. I advise my friends and family not to buy a personal residence until they are at least 7 years into their career. This allows for mobility to seek better opportunities.
Consider what is cheaper. Renting or paying a mortgage. So don't entirely agree with the 1st suggestion as you can also get in boarders and tenants to reduce mortgage payments.
Exactly... Also, people prefer to have their own house as a safety net, in case you lose ur job, get disabled or other things lower ur capability to earn... That way u don't have to worry about rent, also an asset u can use in emergency... How u finance the house is also important...
buying house is the best way for most people to become a millionaire. It's the easiest and safest (though not guaranteed) way to use leverage. However it doesn't mean you have to buy the biggest house you can get. Sounds like Curtis was looking at too much house, should be getting on the property ladder, maybe with just a flat/apartment though and start building equity instead of renting and in a few years move up to a bigger house.
Hi, actually he’s living at home and building his wealth. For some buying a house is a good move to become better than average, to get rich there are much better moves to make. Thanks for watching MT 😎
Not to mention guys, this channel wont help you get rich at all, but it will definitely help him, the views, the sponsors.. its just a “side hustle” as he calls them for him
No alkohol, no designer clothes, no car payment, no mortgage still broke😂 I definitely do something wrong! Jokes aside, I wanted to be recognized and get rich by something that I’m really talented at. This false motivation came from a childhood trauma. I thought if I make it, I will get that attention that I was so desired for. Now I realized that gaining wealth has nothing to do how people will perceive me or value me as a person. Hopefully this will be a new chapter for me. 🙏🏻
dont buy a house - really bad advice considering how rents are escalating. for the average person real estate ownership is the best step for future housing security.
Mr. Tilbury, you won't even probably see my comment. But I just I want to ask you that, if we won't buy things that gonna make us happy, what's the point of being rich? I appreciate your advices about money, but I think that is pretty much extreme.
Hi, I have never said not to buy things you need, but just to shop to make yourself happy will not last more than a moment. If you consume more than you produce then you will always be poor, it’s a balance. Thanks and I did personally see plus respond to your comment. MT 😎
@@marktilbury Thank you for your time :) I totally agree that we should produce more than we consume. But I like to produce more part than spending less.
I signed an agreement to buy a gated community apartment with 0% interest EMI. It's an ongoing project the area is surrounded by Software companies and malls, and with the Metro train service to be commenced in a couple of years, the place will boom. I went for it with these in mind. In my humble opinion, property is not a bad option if you need a regular monthly income apart from other aggressive investments.
A friend of mine did this. He got a massive inheritance paid earlier from his mother, she didn’t want him to wait. He blew the lot before he was 35. He is 51 now, renting a house and driving for Amazon.
My brother's best mate got £800k at 18 in the early 2000s from inheritance. Blew the lot within no time at all. Even just buying a house and not investing, etc would have given him a couple of million by now.
@@chrissambrook84. That’s a shocking amount to waste. There is no talking to some people - they think they know everything. My mate ended up in a shared house during Covid, no money and no job. He had to sell the flat he had bought and made nothing because he started all these renovations and never finished a thing, he was lucky to get it sold as it was worse than when he started. I just give up advising people these days, there is usually no one listening. 🙄
Brilliant quote "when I was young building my wealth, I wasn't looking for anything long-term (e.g. partner/wife) because I knew I wasn't the Man I wanted to be yet"
No offence intended but the views shared here regarding not giving gifts to a loved one (and not having a loved one in the first place) is just so foreign to me that I've had an awaken. You RUclips mega rich influencer people are to be applauded - but you're a different breed and not one I want to associate with. I've liked the video as a thank you.
Would be interesting to see a whole video based on the last point you briefly touched upon. Treating your brain and body in the best possible way for success. Healthy habits of a millionaire or even a daily routine of a millionaire. Sleep, Diet, exercise etc.
on point 5 whilst you're 100% right you also forget to mention not buying highly inefficent cars with poor reliability and low profile tyres that burst all the time. Sensible used cars are key.
When you bought your own house and pay mortgage very fast, you can use it as a collateral, when you take new morgage and bought house for renting. Also in Finland, we have a law that if you sell the house where you are living at least two years, it is taxless.
I bought my house cheap, then it tripled in valve. It costs about what I was paying in rent, but with twice the space, and better amenities. No regrets here.
@@brynleytalbot778 To add to my previous comment, my 3/2 monthly payment is cheaper than I could rent a 1br apartment for. I have no regrets. Realized value comes at the point of sale, which it's like any other asset. Since it would cost me triple to rent there is a savings in living expense. I think people in finance often forget about lifestyle. What is the point of making money if you become a slave to it? Wealth should bring freedom. Maybe I just hate the feeling of renting, and feeling like a guest at someone else's property, with no since of ownership.
I don't see how, when monthly rent payments and mortgage payments are basically the same now (my monthly payment actually went down after buying a house). Surely it's better to put money in an investment (the house) every month than literally throwing it away (renting).
What was really weird was when I sold my used vehicle for almost the entirety of when I bought it on clearance. It was a 2016 Toyota scion. Paid $16,000 on it brand new drove it from then till 2021 and sold it for $14,000. It was used to get a brand new GMC Acadia which was still cheaper than a used and order GMC Acadia. Covid was a wack time for cars
Yeah the second hand car market is insane. Cars that are not devaluing after 4-5 years just because a certain " chip " or certain metals were harder to find to make newer cars. Car repayments are at a all time high aswell people in the US paying $1k monthly over 90months is just insane
Mark, you've hit the nail on the head with this one! As someone who's been on both sides of the wealth spectrum, I can't stress enough how much I resonate with your points. I remember my early days, hustling and grinding, and the temptation to splurge on the latest tech or a flashy car was always there. But like you, I realised that the path to true wealth isn't about looking rich, it's about being rich. Your point about buying a house really struck a chord with me. I've always believed in reinvesting into my businesses rather than tying up my capital in a property. It's a controversial view, but it's served me well. And the bit about staying single while building your empire? Spot on! Relationships can be a distraction when you're trying to focus on your goals. Your video is a wake-up call for anyone who's serious about building wealth. It's not about the flashy lifestyle, it's about making smart decisions and investing in the right places. Keep up the great work, Mark! Your insights are always on point. P.S. Your son Curtis sounds like a smart lad. He's definitely got his head screwed on right!
Interesting about property, but way wrong old chap. You ignore, price escalation, freedom to change your living space (rental needs permission), it's a tax free asset (in contrast to later business capital gains tax), rents will increase with inflation indefinitely until death, mortgages are controlled by BoE base rates. Owning property means living free-of-charge in retirement with mortgage paid-off (free-of-charge but for council tax which everyone pays anyway). The business may FAIL, if so you have nothing to show for it by mid-life, but a failed business (as a Ltd Co) along side personal property in your name means creditors can't touch your property for collection of debt, property remains your essential life long asset. Buying your own home is a no-brainer!
Fantastic as always Mark. I'm 48 and have sometimes felt that life has passed me by. But staying single and not drinking alcohol is something that I definitely agree with. They're both things that society pushes on you in order to 'fit in'.
And then you look at the ‘fit in’ crowd and realise they’re losers and liabilities but somehow they rise in corporate hierarchies on it. It explains why companies rarely perform to their best.
Mark you are a legend! Please assure me as i have made every single mistake that you Addressed, is it too late for me? Just turned 25 and feel like I’m too late with everything on the financial side
I disagree with your point regarding not buying a house. Here's the thing: Most people won't get rich and are terrible in leading a business. So, it's a better strategy to buy a house when you are young, pay off the loan and have practical financial freedom the time you are 45. You gathered plenty of experience, the house, your kids, your family is secured. You still have 20 more years to work. You are in pole-position to get a career or start a business.
I am so glad that I watched your video! You are really right with piece of advice #2, #6 and #7!👍 It is the best advice I have heard from a person so far! Thank you so much!
Not buying a house ?? You would have been left very very low on the wealth ladder in Australia. In simple terms … banks won’t lend you a $1m to buy shares but they will lend you a $1m to buy a house.
Buying a house does not lock up the money. It is equity. Paying off a mortgage instead of paying rent give you increasing equity. The price of property going up increases your equity. You can then use this equity to borrow money for business.
Hi, none of what you say is wrong, in fact for most it’s the best advice, but if you want to get truly rich then it does tie up to much money early on in building your empire. Thanks for watching. MT 😎
@@marktilbury what is the difference between buying a property to rent out to strangers and buying a property to rent out to yourselves? ...yes, some aspects of tax deduction. But you don't pay income tax on the rent earned from yourselves
Hi, us weirdos all think that, but what we have is ours and we can have a better life every year instead of spiralling further into debt. Thanks for watching. MT 😎
I bought a cheap condiminium at the countryside. I pay 50%-60% less a month than I would living in the city so in that regard I can save more money each month, and in 5-6 years owning the appartment I would only go plus compared to renting an appartment in the closest bigger town/city. Pretty good investment.
How much did you save and work for before you made your first investment? This year end I will hopefully have around 40k. Which is a loy for me and half will go into investments such as blue chip stocks and crypto. How long did you save for? Thanks. ❤
I cant see how buying a house (not on the top of market) is a bad idea, if I would have done it I would have a lot more money unless you can live for free at your parents as a child! Rent is higher than a mortgage payment and when you make a down payment on your house you can actually use your house for leveraging if needed. over here rent is 20% higher.
I heavily agree on the clothes part. I only buy tailored clothes with quality material and since I am 27 and actively stay in shape, I know they will last me for ages if not the rest of my life. A tailored combo of pants and shirts will beat the Surpreme logo garbage any day.
I bought a house cause renting in CA is out of control. It's not a flashy house, but it's better than renting. Especially when your Military. It's way easier to purchase and even cars. So I bought a house and a car. I'm not all about the tech stuff and I don't understand most trading stuff. My achilles heel is eating out. I don't drink, so I'm good there.
These videos are great. Would be good to add extra details on what to do with the spare cash. I know investing is probably a good idea but people need to reward themselves occasionally as well.
There is this budgeting plan 50-30-20, 50% (max) for needs, 20 for saving & investments (save until you have an emergency fund, then invest), and 30 (or any spare cash) for "wants". Just remember to include vacations, Christmas gifts and other stuff like that in "wants" for that year. If you're behind on the retirement, it might be good to switch 30 and 20. And you can adjust it all for your situation.
I disagree with your not buying a house discussion. During the recession of 2007-2011 I bought 4 houses in Indianapolis and they have each quadrupled in value. Each lien I pay off frees a stream of income. Best thing I ever did!
Hi, you did exactly what I said, buy houses as investments when you have enough and the price is good. Buying a home for your self only will tie up all your money when you are young. There’s a big difference between the two statements. Thanks for watching. MT 😎
@@marktilbury What if you are in need to rent something anyway, and when you calculate it, it will cost you the same/not 10% more than renting? (Buying on mortage). Simple logic says it is better then to pay off mortage and be left with house, than pay landlord and be left with nothing? If you want to move on, you can always sell it and get something back from it?
@@patrykros3383 hi, unless you stay in a house for 6-7 years it will generally cost you more than renting because you have so many other payments to make, people only ever look at mortgage to rent but tying up a Big deposit deprives you of cash to invest. Unfortunately it’s swings and roundabouts, more than one house is an investment just one to live in is a home long term. This is also aimed at up the 30 years old after that you really want to buy a house out right for you long term security. Everyone has their own view. MT 😎
Get up to 15 free stocks valued up to $2,000 each from moomoo when you sign up & fund your account: j.moomoo.com/00xsGK
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Moomoo not available to UK residents? 😊
@@jeward88 Feel free to get a free stock from the Lightyear app if you are in the UK (i've dropped a link in the description too)
He did already
As far As I can see, moomoo is available only for Asian cities (Hong Kong, Taiwan, Singapore)+ US
I guess no moomoo for us in Europe://
Anything for Europe?
“We buy things we don't need with money we don't have to impress people we don't like.” - Dave Ramsey
I heard Dave Ramsey say this way before Gary Vaynerchuck appeared on the social media scene.
Gary Vaynerchuk didn’t say this. He usually uses quotes of people way smarter than himself.
Lol no, that's from Trainspotting
That's from Fight club, 1999
It's been said by a lot of people before Gary Vee or Dave were even born? Will Rogers said this nearly 100 years ago and I doubt he was the first; it's a simple concept that would have been said many a time by many a people ...
Anyone else here obsessed with Secret Pathway To Triumph? It's like discovering a secret treasure map for wealth!
😍😍😍
i stopped buying clothes. i got arrested.
💀
Move to Germany
So your monthly expenses were reduced to $0.😅
Haha. Jail is the best place in Monopoly. 😂
@@TheFirstRealChewySo is the income
Stopping drinking is the best advice on here. I stopped 6 months ago and I’ve been more productive then I ever have been. 3 businesses so far, life’s looking good👀
Hi. That’s really fantastic my friend, good luck on your journey. MT 😎
I stopped drinking basically after I turned 22. I just never really liked it and I had family members with drug abuse problems so I guess I naturally avoided it and anything else.
It's definitely contributed to the success I've had as I feel like the people around me who do drink or smoke are rapidly dropping in intelligence, that or I feel like I'm surpassing them while they are stagnanting.
oh fuck off jackmcdonald3531, you don't have 3 businesses.
My names Jared Ivey
I will disagee with the house one. I think it depends where you live. The house I bought in 2020 has gone up 47% in value since I purchased it. That is more than a 200% return on my down payment over 3 years. It also costs less to pay my mortgage than to rent an apartment. When I move, it will become a rental property.
After buying the house one doesn't recognise how much he/she paid for expense,tax,bill, maintenance for that house,even the car that is vital for transit.
It could go down too.. then up... Then down .. Then
@@karanmadan1048 if you can rent cheap... It's better than any ownership.
@@Kitiwake status hurts.
@@Kitiwake thats how investment works. No investment is guaranteed to bring you profit.
If you are Millennial or Gen Z don't buy these 7 things:
1. Food
2. Clothes
3. Medicine
4. Tooth paste
5. Cotton buds
6. Soap
7. Deodorant
Buying any one of these items EVEN ONCE may mean you will never financially recover or ever be able to afford a deposit for a house.
Brother, I am 16 to 17 this year, and I literally need to buy my food and all that things, my mom works everyday and when she arrives at home, she is so stressed and tired to buy these things, so I need to buy them, plz tell me how I minimize these expenses, because here in Spain, the food is easily x2 expensive compared to 5 years ago and my income is low as fuck because Spain is all tourism and they dont want young boys.
What
Boo hoo, go home.
U are right, food is a luxury, buying groceries will lead you to bankrupcy these day. One has to be very careful.The prices doubled here in Europe since 2022. I d be better off starving than paying them enemourmous sums for food. Yesterday I was lucky, i got a slice of bread for 5 euros, thats super cheap.
Spoken like a true victim
There's a reason why one of the most valuable asset a person can acquire is knowledge. Thank you Mark for all the information you are giving us younger generation.
the most valuable asset is actually time
@@lullemans72 Arguable without proper knowledge to invest and use time properly, time will not be as valuable as the knowledge itself.
@@lullemans72 Time matter but knowledge is important too. there is a reason why young of former entrepreneurs manage to become successful entrepreneurs themselves at a higher rate than the young person coming from a non-entrepreneurial background. Because the knowledge transfer from their parent gives them a leg up in the game. Now nothing can replace ambition. A guy in the ghetto (50 Cents) with a big ambition can almost get anywhere. I believe ambition is the real stuff that matter. You can mentor a lot of people carry other rappers on your back like LLyod banks but if the dude is lazy and lack of ambitions even if he is talented he will not go very far. Ambition times talent = success.
00/10 ambition times 10/10 talent = 0 success .
10/10 ambition times no talents = 6 to 7/ 10 success.
10/10 ambition times 10/10 talents = the sky is the limit success 20/10 success ( elon musk )
@@droiddevx03 True but the knowledge to spend time properly is also valuable
True
It blows my mind Mark that you need to tell people this. I see people spending $25k/$20k GBP a year on property taxes and buying a new car every three years that is half their salary, no money down, 10% loan for 96 months. Complete buffoonery. It’s actually sad how the “system” takes advantage of the financially incompetent.
What property taxes would you be paying annually? The UK only has stamp duty, a one-off cost for residential property.
@@SpeedbirdHeavy I pay $2k USD which is $1.5K GBP. Being in a capitalist country, I don’t know anything about a one size fits all approach “stamp” approach. The tax rate is based on the value of your home. In this case, I live in a small condominium. I don’t know if England has those. It’s kind of like an apartment you own…
@Golden Manuever ah right, so you're in the US. That makes sense now. The UK does have those, it's just a different name. It's also a capitalist country! Just a different way of taxation - you're taxed in one hit, when you buy. And this is also based on the value of the property.
@Paul Smith no, that's not dependent on owning a property. Renters pay it too.
In Hungary we have a 4% “buying fee” what is a one time payment after a house. After 2$ million it is reduced to 2%.
The maximum amount of tax you can pay is 500.000$ , no matter the price of the “house”
USA is maaad 😅
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
Their
...services are very genius and experienced in the market for over a decade and counting, they changed my life from a poor plumber to a better and middle class family man with 2kids.
I'm new at this, please how can I reach her?
Most people are retiring this year and has nothing to show for. But I assure you it's never late to get your financial life together again.. All thanks to Charlotte Grace Miller for I and my family
She's always active on Whats~App...
Still driving my parents 2012 car so could save 5 grand to start my small business. Best decision I ever made!
Hi, great job my friend. MT 😎
Status is not equal to wealth. Those who look like they have money (fancy cars, designer clothes & accessories, etc) are actually not wealthy. Some of the wealthiest people I know dress like they look poor and they don’t care.
Agreed. There's a way of saying, like "people who can afford to look poor."
Agreed. That's because wealthy people know what to do with money and don't waste their time impressing others by spending it on ridiculous things. Also if you look poor or are more modest, it's a testament to people's true nature as you'll see how they treat you.
@@greenkitty82 Now that you mentioned it, you'll be bothered much less for strangers asking for money.
@@AudieHolland i'd like to be very rich simply to defy the social and material system and test people's character. Second hand, modest everything, nothing flashy whatsoever. Even if I had millions. In fact I'd rather live this way so I could give more to charity and those that need money to improve things as material things are worthless really in the long run. I like things like movies and video games but that's entertainment I will use and would certainly never spend money on something ridiculously expensive or throw it out. In the long run of this experience of life, health and people are the most important things so the money would go to that. But I'd really like to test people's character, would they treat me well seeing my modest life not knowing I had lots of money? That would be very interesting.
Advantage of buying a house - in my country - is that profits are 100% tax free. On the other hand we pay up to 42% tax of stock profits. So, I think it depends on a lot of personal factors.
kommer du fra Danmark ?
Great advice - especially about not drinking alcohol! I've never drank the stuff. Made a decision early in life not to follow the crowd. I've saved thousands of pounds over the years. It doesn't stop me having a good time and I'm so much fitter and healthier as a result....and financially independent at 54.
If you find yourself devoid of ambition, it is only then that you shall mindlessly conform to the masses. It is imperative that you possess a clear vision for your own self, and if you are wise, you shall refrain from acting in opposition to your own interests. Self-respect, self-awareness, and a resolute drive for success-such qualities are inherent to certain individuals.
One word : ambition.
Moderate drinking also does not stop you from having a good time. This is a good advice if you know you can't handle yourself. If you have a glass of red wine with lunch or dinner, it does not cause any of that shown in the video. It might make a better meal.
Big up 👊
Please advise me I'm a 19yo I wanna become a self made millionaire what are the steps I should follow
@@virtualmjrsorin5872 He does rather miss the point that it’s the social aspect of drinking and letting others spend your money by obliging you to join in or be deemed a party pooper, that’s the issue, not alcohol per se.
Would much rather actually be rich than just look rich. Great video, Mark!
I'm retired and if I didn't own my house, I'd have to pay $800 a week to rent it. That's a big advantage at a time of life when your earning options are hugely reduced.
Hi, I agree owning your own home is fantastic! When you choose to buy it is what’s in question and how much money you lock up. If you deposited $100k on a house and that’s all the money you have 10 years latter you will own part of a house. If you invest that $100k in your own business you have the chance For that to be $1mil $2mil in 10 years. Then you can buy three of four houses ! That’s the lesson . Thanks for watching MT 😎
His point isn't about not buying a house. For most people it's the better option. What he is saying if you want to be rich, like worth $10 million by 40 rich, then you need to take risks and buying a house will lock up a lot of money that you need to be risking in a business venture to get there
@@Sc9cvsd I think Mark already explained his own point perfectly well thanks (see his response). My own point was to illustrate the benefits of owning a house later in life, which people of Mark's son's age might not be thinking about.
Made the same mistake. Bought in 2015 and had it paid off by 2021. If I rented and put the delta into the S&P500 I could buy this same house 4 times over in cash today. At least I have a house but it was the worst idea to pay it off so aggressively 😢 I have time on my side 43 now
i pretty much agree with all of this. when i was younger my dad told me to buy a house; which i did, but only as an investment property. i then leveraged this property to buy another after a couple of years. it has allowed me to live a decent life, 20 years later.
If you have a stable home environment with highly supportive parents this works. If not, you need a roof over your head, which can drain your income. It’s all far easier at home with no bills and easier still with parents who support your entrepreneurial spirit.
@@brynleytalbot778 this is true. This is weakness of western society. Kick their kids out when they are 18. Immigrant family consolidate resources to help next generation
Smart people don't buy a house, they buy a post/zip code. Then buying a house is a wise investment.
Just saying though... The housing market from 2000 and 2023 is... Quite different.
@@derekhayter4879 yea you are correct. It means that you need to be even more motivated to get into the ladder. It’s very hard now and parents need to start thinking about how they will get their kids onto the ladder. My kid is 10 and I have already started putting money away for when he is older
Love the four week rule 😂 You’re absolutely right. In my experience I’ve learnt that if a woman likes you, she likes you. You don’t to spend loads or anything at all!
I’m not a millionaire, though… 🤔
Mark Tilbury for the WIN!
I like the way these videos are made. Especially the little icons at the bottom showing progress.
Hi, my team are always looking to how we can keep improving, thanks for your support. MT 😎
I also prefer renting because, at least in the Netherlands, renters are VERY well protected, and realistically if I wanted to leave, I could just pack up and go instead of dealing with selling
A fair point, though heavily dependant on where you live! Unfortunately, not every country has its s#!t together like the Netherlands!
Yeag but also in the netherlands you can get a mortage that is lower then your rent. And you can also sell any time you want
@@RomeTWguy true but his point was that he wouldn’t have to deal with selling, not that he couldn’t sell
@@responsiblewealth7509 you can sell quicker here then you can break the lease on a rental tbh. Also you can take the equity with you
Millionaires are made in crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 2months, and it would really help if you could make a video covering these strategies.
The strategies are quite rigorous for the regular. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, before the pandemic got real serious, I used to handle all my investment and I was pretty good at it, fast forward to post-pandemic and my-portfolio is steady in the red with profit rate down to the lowest, that's when I touched-base with a coach I saw featured on businessweek, who restructured my portfolio and over the last couple years, I've made over $850k from initially $210K
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
Well i won't say i have........His name is "Jackson Sten Marsh" can't divulge much. Most likely, the internet should have his basic info, you can research if you like
Thank you for this tip. it was easy to find your coach. Did my due diligence on him before engaging his services. He seems proficient considering him résumé.
Not quite "rich" yet but getting to first mil - 2 huge influences for me..
1) the book "How To Get Rich" buy Felix Dennis is truly superb advice and actually very thoughtful.
2) "Superfreakonomics 2 - think like a freak" has a lifechanging chapter called "Teach the garden to weed itself"
Thanks for this, I’ll check it out
Love Felix Dennis book. Just finished it 2 weeks ago. An amazing read.
The house scenario depends on where you live, im in an area where prices keep rising, value of last house went up 90k in 6 years, current is up 40k in 2 years
So is inflation?
@@thomaslorinczi7477 its well above inflation
Of the 9 houses I’ve owned in the past 38 years, the selling prices add up to $354,000 more than the purchase prices.
After subtracting for guesstimated repairs and closing costs, then adding-back estimated tax savings, I suppose I’m
SLIGHTLY ahead.
The best I did was $289k purchase in 1993 with a sale of $850k 12 years later. The worst was the purchase of a house
and a VRBO ski cabin in 2006 for $1,560,000 and $1,250,000, then selling them in 08 for $1,050,000 and $850,000.
According to Zillow, those two houses are just now priced at what I paid for them 17 years ago……just before the last
big crash.
The economy is overdue for a crash. If you’re young and would need to borrow money to buy a house, I’d suggest holding
off.
OTOH, I have done very well with warehouses that I’ve rented to others for 20 years or more, and not so well on ANY
get-rich-quick investment from clapping hats, an oil well, promoting rock concerts, stock options, aa vending business, etc.
Hi. WOW what a break down, the ski cabins were definitely a big hit in your pocket that’s for sure. But overall balancing out your investments seems to always be what works. Thanks for the comment. MT 😎
I bought my house during the real estate bubble of the 1980s. Fifteen years later it was still worth less than I paid for it. I have a friend who bought his house in CT for a little over a million dollars in 2005. He sold it 14 years later for $835k.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
2:26 even with real estate prices through the roof, some people think owning a home is a great investment.
It can be. Depends on the market. I know one person that netted $500k on their personal property strictly by buying in Tampa before COVID. MY sister made $100k on a house she bought and sold in three years in Denver.
I went from a net worth of $20k at 26 to a multimillionaire now at 34 because of real estate. Real estate is the best investment even at these prices in my opinion
Honestly I think it’s the best investment I’ve ever made. I live in the netherlands and bought my home 3 years ago for €225k. I had to make a deposit of €47k, leaving me with a mortagage of 189k (had to pay taxes etc) at 1.38%. Currently the mortage is only €173k and it’s worth about €320k. So it’s made me nearly €100k in only 3 years! Just by living in my house and paying a really low mortgage payment every month.
That what I tell my friends everytime, don't go for a girl and spend time, energy, money that is not going to be your future wife. And they tell me they can't help it without a girl in thier life.
I think that was the best advice you gave, being single= being 100% focused on your goal, so you would reach it faster, and your relationship will be more and more stable.
Also I find it cute that you like every comment 🤣🤣😍😍
pin me please 🤳🤳
🙏🙏
Do you have any episodes with your son? I’d like to hear about his story, as having you as a mentor clearly benefited him a lot!
Hi, check out Strike it Big on RUclips. Thanks MT 😎
@@marktilbury Great, thanks!
You can't be rich, you can just be a bit better financially...
Not buying a house will be only beneficial if you save and invest religiously over decades just as you would paying a mortgage….I know very few people who could sustain that….including myself.
So it’s also about being realistic about yourself.
Bought a property a long time ago. Sold it a few years later for way more. Took the money and bought a ferrari. With the car I got to meet so many new and interesting people that I could expand my business so much that i wouldn’t need to worry about anything anymore.
I paid off my home during the GFC in 2009. It was simpler brick rambler with very low upkeep costs and I paid $1,000 a year in property taxes. You can't believe the peace of mind that gives. Then, you can't believe how much money you have to save / invest every month without a mortgage payment.
The paid off house gives you something to fall back on if you lose that job or want to reinvent yourself for another line of work. It is freedom. The other points, I agree with.
Agree 100% but…….Made the same mistake as you. Bought in 2015 and had it aggressively paid off by mid 2021. If I rented and put the delta into the S&P500 I could buy this same house 4 times over in cash today. At least I have a house but it was the worst idea to pay it off so aggressively 😢 One do need at least one house to live in unfortunately.
@@fvlok Paying off my home in 2009 at the near lows of the stock market was an even worse financial decision when comparing what I could have made investing. Of course, at the time, it seemed that the world was ending and looking back in hindsight it is easy to think, "What if". I am still doing it with my new home - aggressively paying it off, even while the SP500 and tech has been roaring these last four years. It is in my DNA to be debt free I suppose.
Same mate. Allergic to debt. Hold no debt. Trying to save 45% of nett income, started a bit late at 41 but got some time
About drinking, I do agree: do NOT to drink till you are drunk. It is a terrible idea and bring nothing positive. However I do drink a glass of red win almost every day. This is perfect during a dinner, don't make your drunk and have no real drawback.
I AM PRESIDENT TRUMP STOP DRINKING STOP DOING DRUGS AND NONSENSE YOU DON'T NEED ITMAY GOD HAVE MERCY FOR MY ENEMIES BECAUSE I WONT WHEN DO YOU PLAY THE TRUMP CARD 
 TREASON!!! YOU DO KNOW I HAVE THE NUKE CODES AND THE FOOTBALL HAPPY NEW YEAR !!!!! THE BEST IS YET TO COME!!!!!
WHEN DO YOU PLAY THE TRUMP CARD!!!!
Until the world sees the TRUTH!
“I was right about a lot of things and I’ll tell you this, I’ll be right about the election.” - 45
IT WAS NOT EVEN CLOSE!!!!! AUDIT ALL THE STATES!!!!! DEEP STATE CAN KISS MY ASS!!!!
I HAVE NOT conceded the election!
This is very important for what comes next.
You see, if AZ decertifies their results the ENTIRE election is now in question. Congress cannot certify election until ALL states have certified. Just like a state cannot certify unless 100% of their counties certify, the same is true of a national election with the states
themselves.
As Trump hasn't conceded, he now has a right to contest the entire election and that will mean the remaining 49 states will have to conduct a full forensic audit as a result.
Why do you think so many states are visiting AZ for the audit right now, including states that supposedly already went Trump and didn't have contested election issues? They know what is coming.
Do you all remember prior to the 2018 election Trump signed an EO13848 making national elections a matter of national security?
>>>Now put two and two together. If even ONE state shows fraud it calls into question the results
>>>of the entire election. Being a matter of national security now puts it under the purview of
>>>who as forensic audits are done state to state?
If you answered the military you are on the right track.
I AM COMEING THE BEST IS YET TO COME!!!!That means they're playing along with Trump and im in control they've already given Trump back his power they've already reinstated him they reinstated them recently
Thank you so much, you are saving and teaching thousands of people from making poor financial decisions
I disagree with the house thing. Yes, you can start a business instead. But businesses bring either profit or loss. You rarely loose on not paying a rent.
I love when people tell me I don’t need to buy a house because I’m waaaaay too lazy for home ownership
The biggest thing destroying the wealth of people in my age group (20s-30s) is the car! People buy wayyyy too much car than what they can afford
We are suffering in the Turkey due to high inflation. If I couldn't buy it today, it would be expensive later. So everyone thinks buy today even you have debt for it. In the worst stution, you will sell it. It will be more expensive than yesterday. So many people are buying house, land, car, phone etc. I do not. It became like I couldnt afford an average car or an average phone. I became poor. They became rich. What should I do?
Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.
Good points, but i disagree about not buying a house to live in. They always seem to increase in value over the long run and so if you don't buy one asap you'll effectively be chasing a moving target.
i divorced, sold my house...now i am getting rich
Smart move, congrats on that.
Nice
Best decision ever don't get married 😂
@@jetvdna5449 I hope you'll set that example yourself, then the rest might follow you...
Yeaaa!!!!
I've got the "not buying anything" part down.. now just need to become rich.
Don't be impressed by labels on clothes. Don't associate with people who who are impressed by labels on clothes.
A very insightful video. Incredible eye-opening information, until I realized that I already was not buying any of the things listed and I still did not get rich, and I am broke asf.
The house thing is not the same for everyone. I am US Army military veteran with a VA rating. It cost me almost nothing to buy a house, which then starts building equity and, in fact, doubled in value in the 10 years I have owned it at a low interest rate. It has actually allowed me to save a lot of money since from when I have had it, it has always been cheaper than renting.
Great point!
I agree if it doesn’t cost much, much better to own your own property imo.
I’m wondering whether Mark was thinking of house prices here in the U.K.- land is more a premium here than in the US so house prices can be very high and then you’re saddled with a huge mortgage and no spare cash to invest in anything else.
Stopped watching after 2:30. Of course, the rich who own large real estate properties, wouldn't want the middle class to buy a house for living. 'Cause they are renting it from them. And they would want to pay that rent till the end of their lives, because this way they keep both the house & rent. Pay mortgage to the bank till the end of your life, and your family at least will have a house.
No I agree with buying a property to rent out, or even as your own when you are older… just not in your younger years if you are looking to be rich. MT
Thank you Mr. Tilbury for sharing your knowledge with us through your RUclips channel, you have inspired me to go on my own financial journey to become a Multi-millionare!
Hi, good luck my friend. MT 😎
Some advises do really not apply to specific places. Baught a house in 2014 in Paris suburbs to live in, sold it in 2022. Prices did x2 in 8 years, so I could pay back the whole mortgage + getting a lot of benefits. And for my car, the inflation is so high that for the frist time in my life I could sell it 3 years later the same price I did buy it.
Doesnt inflation mean money is worth less?
Number 7, that's one wisdom why Allah told us to stay away from intoxicants
Thanks Uncle Mark for the valuable video ♥
My house payment is much less than any rental property in my area. And with the rise of interest rates and inflation, my property value has more than doubled in the 20 years I have owned it.
Any $150 - $180 android phone is good enough for everything. You dont need an Apple a phone is just a thing with apps and icons you tick. I had apple, Android and Microsoft they all worked fine and you can migrate photos / contacts.
ok, ok...
Acquiring stocks has been a problem for me as I never know what to do next, I have a portfolio of 200k and I just watch it decline, any suggestions Mark?
Most people use an expert on these matter, you can’t just be freestyling your way up with a portfolio that big
I work in real estate and also run a business. I advise my friends and family not to buy a personal residence until they are at least 7 years into their career. This allows for mobility to seek better opportunities.
Consider what is cheaper. Renting or paying a mortgage. So don't entirely agree with the 1st suggestion as you can also get in boarders and tenants to reduce mortgage payments.
Exactly... Also, people prefer to have their own house as a safety net, in case you lose ur job, get disabled or other things lower ur capability to earn... That way u don't have to worry about rent, also an asset u can use in emergency... How u finance the house is also important...
Even as tech guy I'm using my ASUS Zenfone 5 for almost half a decade now.
buying house is the best way for most people to become a millionaire. It's the easiest and safest (though not guaranteed) way to use leverage. However it doesn't mean you have to buy the biggest house you can get. Sounds like Curtis was looking at too much house, should be getting on the property ladder, maybe with just a flat/apartment though and start building equity instead of renting and in a few years move up to a bigger house.
Hi, actually he’s living at home and building his wealth. For some buying a house is a good move to become better than average, to get rich there are much better moves to make. Thanks for watching MT 😎
Not to mention guys, this channel wont help you get rich at all, but it will definitely help him, the views, the sponsors.. its just a “side hustle” as he calls them for him
Thanks for all this information it’s very valuable for us all, I am 14 years old and it’s very good that I am being taught these things at this age
Hell yeah man. I'm 25 and wish I learned this stuff sooner. Hope you have a prosperous future ✌
@@UndeadPigeonFilms thanks man, I hope you have a prosperous future as well📈
No alkohol, no designer clothes, no car payment, no mortgage still broke😂 I definitely do something wrong! Jokes aside, I wanted to be recognized and get rich by something that I’m really talented at. This false motivation came from a childhood trauma. I thought if I make it, I will get that attention that I was so desired for. Now I realized that gaining wealth has nothing to do how people will perceive me or value me as a person. Hopefully this will be a new chapter for me. 🙏🏻
dont buy a house - really bad advice considering how rents are escalating. for the average person real estate ownership is the best step for future housing security.
What people don't realise is, the rich are never going to give you advice you can follow lol
Mr. Tilbury, you won't even probably see my comment. But I just I want to ask you that, if we won't buy things that gonna make us happy, what's the point of being rich? I appreciate your advices about money, but I think that is pretty much extreme.
Hi, I have never said not to buy things you need, but just to shop to make yourself happy will not last more than a moment. If you consume more than you produce then you will always be poor, it’s a balance. Thanks and I did personally see plus respond to your comment. MT 😎
@@marktilbury Thank you for your time :) I totally agree that we should produce more than we consume. But I like to produce more part than spending less.
I signed an agreement to buy a gated community apartment with 0% interest EMI. It's an ongoing project the area is surrounded by Software companies and malls, and with the Metro train service to be commenced in a couple of years, the place will boom. I went for it with these in mind. In my humble opinion, property is not a bad option if you need a regular monthly income apart from other aggressive investments.
A friend of mine did this. He got a massive inheritance paid earlier from his mother, she didn’t want him to wait. He blew the lot before he was 35. He is 51 now, renting a house and driving for Amazon.
My brother's best mate got £800k at 18 in the early 2000s from inheritance. Blew the lot within no time at all. Even just buying a house and not investing, etc would have given him a couple of million by now.
@@chrissambrook84. That’s a shocking amount to waste. There is no talking to some people - they think they know everything. My mate ended up in a shared house during Covid, no money and no job. He had to sell the flat he had bought and made nothing because he started all these renovations and never finished a thing, he was lucky to get it sold as it was worse than when he started. I just give up advising people these days, there is usually no one listening. 🙄
@@jimh4072 This comment thread is just tragic :(
Brilliant quote "when I was young building my wealth, I wasn't looking for anything long-term (e.g. partner/wife) because I knew I wasn't the Man I wanted to be yet"
Should I start a clothing brand or focus more on becoming a content creator in 2023
Hi, I think both would go hand in hand. MT 😎
No offence intended but the views shared here regarding not giving gifts to a loved one (and not having a loved one in the first place) is just so foreign to me that I've had an awaken. You RUclips mega rich influencer people are to be applauded - but you're a different breed and not one I want to associate with. I've liked the video as a thank you.
Would be interesting to see a whole video based on the last point you briefly touched upon. Treating your brain and body in the best possible way for success. Healthy habits of a millionaire or even a daily routine of a millionaire. Sleep, Diet, exercise etc.
on point 5 whilst you're 100% right you also forget to mention not buying highly inefficent cars with poor reliability and low profile tyres that burst all the time. Sensible used cars are key.
When you bought your own house and pay mortgage very fast, you can use it as a collateral, when you take new morgage and bought house for renting. Also in Finland, we have a law that if you sell the house where you are living at least two years, it is taxless.
I bought my house cheap, then it tripled in valve. It costs about what I was paying in rent, but with twice the space, and better amenities. No regrets here.
One should focus on the reality that there is no realised appreciation in value in a home you occupy so it’s a myth that you’re any wealthier.
@@brynleytalbot778 To add to my previous comment, my 3/2 monthly payment is cheaper than I could rent a 1br apartment for. I have no regrets. Realized value comes at the point of sale, which it's like any other asset. Since it would cost me triple to rent there is a savings in living expense.
I think people in finance often forget about lifestyle. What is the point of making money if you become a slave to it? Wealth should bring freedom. Maybe I just hate the feeling of renting, and feeling like a guest at someone else's property, with no since of ownership.
Finally someone older is saying what i have been saying about buying a personal house, it not really a good investment over all
I don't see how, when monthly rent payments and mortgage payments are basically the same now (my monthly payment actually went down after buying a house). Surely it's better to put money in an investment (the house) every month than literally throwing it away (renting).
Lead a minimalist lifestyle. Be grateful for what you have and always give in Charity to help those less fortunate than yourselves.
Alhamdulillah
Love it
What was really weird was when I sold my used vehicle for almost the entirety of when I bought it on clearance. It was a 2016 Toyota scion. Paid $16,000 on it brand new drove it from then till 2021 and sold it for $14,000. It was used to get a brand new GMC Acadia which was still cheaper than a used and order GMC Acadia. Covid was a wack time for cars
Yeah the second hand car market is insane. Cars that are not devaluing after 4-5 years just because a certain " chip " or certain metals were harder to find to make newer cars. Car repayments are at a all time high aswell people in the US paying $1k monthly over 90months is just insane
Holy 💩 I can't mingle with the ladies if I wanna be rich?! This guy is a monster. I love it!
Mark, you've hit the nail on the head with this one! As someone who's been on both sides of the wealth spectrum, I can't stress enough how much I resonate with your points.
I remember my early days, hustling and grinding, and the temptation to splurge on the latest tech or a flashy car was always there. But like you, I realised that the path to true wealth isn't about looking rich, it's about being rich.
Your point about buying a house really struck a chord with me. I've always believed in reinvesting into my businesses rather than tying up my capital in a property. It's a controversial view, but it's served me well.
And the bit about staying single while building your empire? Spot on! Relationships can be a distraction when you're trying to focus on your goals.
Your video is a wake-up call for anyone who's serious about building wealth. It's not about the flashy lifestyle, it's about making smart decisions and investing in the right places. Keep up the great work, Mark! Your insights are always on point.
P.S. Your son Curtis sounds like a smart lad. He's definitely got his head screwed on right!
Shut up
Interesting about property, but way wrong old chap. You ignore, price escalation, freedom to change your living space (rental needs permission), it's a tax free asset (in contrast to later business capital gains tax), rents will increase with inflation indefinitely until death, mortgages are controlled by BoE base rates. Owning property means living free-of-charge in retirement with mortgage paid-off (free-of-charge but for council tax which everyone pays anyway). The business may FAIL, if so you have nothing to show for it by mid-life, but a failed business (as a Ltd Co) along side personal property in your name means creditors can't touch your property for collection of debt, property remains your essential life long asset. Buying your own home is a no-brainer!
Fantastic as always Mark.
I'm 48 and have sometimes felt that life has passed me by. But staying single and not drinking alcohol is something that I definitely agree with.
They're both things that society pushes on you in order to 'fit in'.
I’m 44 and single with no kids. I’m feeling that FOMO. How have you defeated that feeling?
lmao fuck society
And then you look at the ‘fit in’ crowd and realise they’re losers and liabilities but somehow they rise in corporate hierarchies on it. It explains why companies rarely perform to their best.
Mark you are a legend!
Please assure me as i have made every single mistake that you Addressed, is it too late for me? Just turned 25 and feel like I’m too late with everything on the financial side
Hi, your never to late , aa long as you start taking action towards a better future. Good luck my friend. MT 😎
You made my day with this! I will thank you!
You only at the start, I wish I was 25 again, but with more sense than I had then. 😂
I disagree with your point regarding not buying a house.
Here's the thing: Most people won't get rich and are terrible in leading a business.
So, it's a better strategy to buy a house when you are young, pay off the loan and have practical financial freedom the time you are 45.
You gathered plenty of experience, the house, your kids, your family is secured. You still have 20 more years to work.
You are in pole-position to get a career or start a business.
Mark, you truly are an inspiration to young people like me. Thank you for giving us the knowledge guiding us to financial freedom and independence.
Buying a house and paying it off isn’t a bad idea in the USA, at least you dont end up a homeless…forget about becoming a millionaire 😅
I am so glad that I watched your video! You are really right with piece of advice #2, #6 and #7!👍
It is the best advice I have heard from a person so far! Thank you so much!
Not buying a house ?? You would have been left very very low on the wealth ladder in Australia.
In simple terms … banks won’t lend you a $1m to buy shares but they will lend you a $1m to buy a house.
I were going to buy iphone after online work but after watching This video I don't think i will 😅
Good one 😂do not buy if your current phone does everything.
Buying a house does not lock up the money. It is equity. Paying off a mortgage instead of paying rent give you increasing equity. The price of property going up increases your equity.
You can then use this equity to borrow money for business.
Hi, none of what you say is wrong, in fact for most it’s the best advice, but if you want to get truly rich then it does tie up to much money early on in building your empire. Thanks for watching. MT 😎
@@marktilbury what is the difference between buying a property to rent out to strangers and buying a property to rent out to yourselves?
...yes, some aspects of tax deduction. But you don't pay income tax on the rent earned from yourselves
Just Me who thinks Mark makes some of the best content on RUclips ❤🔥
The problem is sometimes I just don’t understand a single word you say. What is an index fund, or interest rate, or down payment
I always thought I was weird for wanting to live a modest life so that I could have more money left over
Hi, us weirdos all think that, but what we have is ours and we can have a better life every year instead of spiralling further into debt. Thanks for watching. MT 😎
Unwise financial decision? Owning a phone that no longer receives security updates.
Your money, data, and reputation can be left in tatters !
5:30 this move is quietly something in between badass and kinda sad. Rest is just nice. Also recognized the boba in the background. Love it haha
I bought a cheap condiminium at the countryside. I pay 50%-60% less a month than I would living in the city so in that regard I can save more money each month, and in 5-6 years owning the appartment I would only go plus compared to renting an appartment in the closest bigger town/city. Pretty good investment.
I've only recently found you Mark. Love to listen to your comments. It grounds me yet gives me such enthusiasm. Cheers mate.
Money is like confidence. It's hard to keep and easy to lose.😂
How much did you save and work for before you made your first investment? This year end I will hopefully have around 40k. Which is a loy for me and half will go into investments such as blue chip stocks and crypto. How long did you save for? Thanks. ❤
Hi, I was 18 years old and only had a few hundred pounds in my bank. The sooner you start the better. Good luck my friend. MT 😎
I cant see how buying a house (not on the top of market) is a bad idea, if I would have done it I would have a lot more money unless you can live for free at your parents as a child! Rent is higher than a mortgage payment and when you make a down payment on your house you can actually use your house for leveraging if needed. over here rent is 20% higher.
I heavily agree on the clothes part. I only buy tailored clothes with quality material and since I am 27 and actively stay in shape, I know they will last me for ages if not the rest of my life.
A tailored combo of pants and shirts will beat the Surpreme logo garbage any day.
I bought a house cause renting in CA is out of control. It's not a flashy house, but it's better than renting. Especially when your Military. It's way easier to purchase and even cars. So I bought a house and a car. I'm not all about the tech stuff and I don't understand most trading stuff. My achilles heel is eating out. I don't drink, so I'm good there.
These videos are great. Would be good to add extra details on what to do with the spare cash. I know investing is probably a good idea but people need to reward themselves occasionally as well.
There is this budgeting plan 50-30-20, 50% (max) for needs, 20 for saving & investments (save until you have an emergency fund, then invest), and 30 (or any spare cash) for "wants". Just remember to include vacations, Christmas gifts and other stuff like that in "wants" for that year. If you're behind on the retirement, it might be good to switch 30 and 20. And you can adjust it all for your situation.
I disagree with your not buying a house discussion. During the recession of 2007-2011 I bought 4 houses in Indianapolis and they have each quadrupled in value. Each lien I pay off frees a stream of income. Best thing I ever did!
Hi, you did exactly what I said, buy houses as investments when you have enough and the price is good. Buying a home for your self only will tie up all your money when you are young. There’s a big difference between the two statements. Thanks for watching. MT 😎
@@marktilbury What if you are in need to rent something anyway, and when you calculate it, it will cost you the same/not 10% more than renting? (Buying on mortage). Simple logic says it is better then to pay off mortage and be left with house, than pay landlord and be left with nothing? If you want to move on, you can always sell it and get something back from it?
@@patrykros3383 hi, unless you stay in a house for 6-7 years it will generally cost you more than renting because you have so many other payments to make, people only ever look at mortgage to rent but tying up a Big deposit deprives you of cash to invest. Unfortunately it’s swings and roundabouts, more than one house is an investment just one to live in is a home long term. This is also aimed at up the 30 years old after that you really want to buy a house out right for you long term security. Everyone has their own view. MT 😎
Hey mark do you think buying a duplex at 18 is to young
Hi, if you can do it with out effecting your emergency fund then good luck my friend. MT 😎