How to Win With Money in Your 40s (Financial Planning 101)
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- Опубликовано: 28 авг 2024
- How to Win With Money in Your 40s (Financial Planning 101)
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Just turned 40, I totally feel what they are saying about feeling like I'm not broke. Within a year or so of having no mortgage, having a solid 6 month emergency fund, no car payments. Excited to see what I can build in the next 10 years
That sounds exciting! I hope good things come to you.
@@franzvanjulio5523 thank you
Exercise... exercise... exercise....when you hit 40, you can't eat the same garbage food anymore
Literally reading this in a Burger King drive thru. You are right, though.
The new set and lighting isn’t as good as the old but the information given is still great and on point
I turned 40 last June!!!!!!!!!!!!!!!!!!!! thank you very much!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I have been fairly good with money since my twenties and it was late thirties before I felt I had any wealth. It’s a long race…
Late 40’s for first million seems right as you say, but only for your audience; the substantial majority of Americans never achieve a net worth of $1M
What’s really weird is im 38 and feel like I just started, and I find myself using the calculations for people who start when they are 40….totally forgetting that I started at 26. I guess that makes me feel good in a way but at the same time immersed in the process to the point where I do r feel like it’s hard to do
I do the exact same thing. You’re not alone!
Great video 👍🏽
Dang… gotta start sometime
We are late to investing. Should have done so much more in our 20's and 30's. However, I feel like its not too late to start.
Think of the years you have prior to retirement as the number of years you could have in retirement. So estimate the time you have left in this world and divide it by 2. If you can invest as much money each month as you would need in retirement, then you are in a very good position. Keep increasing your investment to account for inflation.
If you have more working years ahead of retirement years, you are in an extremely good position.
Even if you can't save as much as you need per month on retirement, you may be able to work a little longer to give yourself an advantage, or start thinking about how you can make more money (side hustle), and cut expenses now and in retirement. The less expenses we have in retirement, the less money we need.
When I’m looking at the money multiplier for compounding growth, should I use a different age if I want to retire at 55?
Oh man I am 39 and I am so behind 😩😩😩😩😩
100%! made some early mistakes, jumped on the get responsible bandwagon late, tried to make modest improvements and then life happened and had to split what little I did manage to invest 50%. Now, I have new costs but I’m more driven and focused. I’m currently saving almost 25% net income (not enough to catch up).
Me too! I have some saved since I started years ago with lower paying jobs....making little over 30k a year. Finally landed a good paying job before the pandemic hit.....been watching this show and turbocharging my saving as much as possible. You are not alone.....sooner is better than later.
@@thedreadpirate98823 🤞🤞🤞🤞 I am trying to stay positive but it's gonna be hard .
Good luck
@@justinphillabaum4245 🤞🤞🤞🤞 I hope so will take some time hopefully we get there
I just turned 40 😢
Haha, I love that koozie
IRS is the worst creditor ever. Don't mess with the IRS.
New set looks washed out.
Is everyone else's 401K losing money like mine?
Absolutely, but that's expected. It'll rebound huge like it has every time in history 👍
@@BlakeBake I hope so
FJB!! A little off topic but if this market was more stable maybe I could finally pull the trigger on a P320 AXG PRO!
You're only losing money if you sell low. You're actually making money when the market is down because you can buy more shares which will be worth more in the future. If the market is up, you win. If the market is down, you still win. You only lose when you sell low.
Yep. Buy more.