It’s absolutely tougher now! A lot of people overlook taxes, healthcare premiums, and even lifestyle creep. They assume $1 million is a magic number, but without a proper strategy, it can run out faster than you think
Totally agree. I saw my uncle go through this-he had over $1 million saved, but he made the mistake of not diversifying his portfolio properly. When the market dipped in 2008, he lost nearly half. It was heartbreaking to watch. Balancing risk and safe investments is crucial
After a devastating hurricane destroyed my beachside business in 2017, I vowed to never again put all my eggs in one basket. I've since diversified my investments and hired a financial advisor to manage my excess funds. Now, as a semi-retired sailor, I spend only 9 hours a week maintaining my yacht, and I'm thrilled to be just 5% shy of my $3.4 million retirement goal, thanks to savvy investments made since rebuilding my finances
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Joseph Nick Cahill, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
Thank you! Appreciate the comment ☺️✨ I think most rules of thumb can work, just depends which strategy fits your situation & goals! I was never able to make 50/30/20 work in Los Angeles so I just aimed to balance my current spend vs longer term goals!
Wha I really like about you is you give advice, then encourage starting where you are at. You also provide realistic timelines and examples of how to handle common challenges people face with this. Your niche is SOOOOO SATURATED but you are seriously one of a kind. Today it all clicked for me. I didn’t think it was attainable but you simply talking about making it a goal, trying it out for a year or how to accelerate your wealth. You’re actually beginner friendly. Seriously. Thank you.
I appreciate you sharing this!! 🙏🏽🙏🏽 I agree there’s a lot of finance content out there, and sometimes it just takes reps. More exposure and hearing different voices & different perspectives will eventually make things click. There were some finance concepts that took me 3 years to learn-they clicked right before I took my financial planning exam just in the nick of time😅. Keep at it, and break everything down into the smallest steps possible!!
I firmly believe getting into the 1% takes more than just habits. Good fortune is required as well. That being said, I think getting into the top 50% is attainable for "everyone" through habits and consistency. Yes, poor fortune will exclude *some* people, but that's life and you can't completely cover *all* scenarios all the time.
I agree with this! I mean unfortunately the 1% is a moving target. I think doing well financially (or succeeding in life in general) is a mix of hard work, luck, and privilege… I just haven’t worked out the percentages lol i think it varies by person. Appreciate the comment sharing your thoughts! ✨
Great question. As always it depends on your particular situation, so there isn't one way to go about it. When it’s possible, do both. For example, some people will build a small emergency fund while making sure they pay their minimum debt payments. I have a video that talks about this! - th-cam.com/video/OdWL3PyGO2Y/w-d-xo.html
Thank you for watching!! To answer your question: It depends! What's MOST important is that you have the debt under control (meaning you're not taking on more debt) and that you're living within your means. From an educational standpoint, moving debt & consolidating can be beneficial if it helps keep you organized AND if you'll save on interest. Look out for future videos on how to manage debt! ✨
Excellent video sis, I haven't applied any rules yet but im currently trying to pay my bills 3 to 4 months in advance, so it's like an emergency fund except it's already paid. Thank you for your videos
@@Grow-Glow-Inspirations that's another great strategy!! I use YNAB to manage my spending and they have a concept which is similar to this -- it's called "aging your money" if you're interested in learning more. Basically, the goal is to keep your money in your possession longer. Instead of money coming in Month 1 and going out Month 1.... it comes in Month 1 and you keep it til Month 2, 3, 4, etc, further into the future. Sounds like you got a good system 🙌
I am 36 years old with salary of 850k a year. Its not hard to save people! I am able to just live off 25% of my income and save the rest. Just need to live below your means.
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
Hi! Thanks for the question. I address this around 10:44! Compared to the 50/30/20 rule, 25/65/10 actually dedicates more $$ towards things I consider to be wealth building activities. But remember these are all rules of thumb! There are more in depth calculations you can do to figure out the savings rate you need to hit your financial goals. Feel free to do what works for you ✨✨
Inflation, medical costs, and unpredictable markets make it seem so much harder to plan than it was for previous generations.
It’s absolutely tougher now! A lot of people overlook taxes, healthcare premiums, and even lifestyle creep. They assume $1 million is a magic number, but without a proper strategy, it can run out faster than you think
Totally agree. I saw my uncle go through this-he had over $1 million saved, but he made the mistake of not diversifying his portfolio properly. When the market dipped in 2008, he lost nearly half. It was heartbreaking to watch. Balancing risk and safe investments is crucial
After a devastating hurricane destroyed my beachside business in 2017, I vowed to never again put all my eggs in one basket. I've since diversified my investments and hired a financial advisor to manage my excess funds. Now, as a semi-retired sailor, I spend only 9 hours a week maintaining my yacht, and I'm thrilled to be just 5% shy of my $3.4 million retirement goal, thanks to savvy investments made since rebuilding my finances
Thanks for sharing your experience! I've been managing my portfolio myself, but it's not working out. Do you have any recommendations for a good investment advisor? I could really use some help
My CFA, Joseph Nick Cahill, is a renowned figure in his field. I recommend researching his name online; you'll find all his credentials and everything you need to work with a reliable professional. With many years of experience, he is a valuable resource for anyone looking to navigate the financial market.
25% paying debt, building emergency funds, preparing future needs.
65% present needs and wants.
10% investment.
The TL;DR 😏👍🏽👍🏽
I love what you said about the difference with the 50/30/20! It is SO TRUE! Times have changed. This was such a great and straight to the point video.
Thank you! Appreciate the comment ☺️✨ I think most rules of thumb can work, just depends which strategy fits your situation & goals! I was never able to make 50/30/20 work in Los Angeles so I just aimed to balance my current spend vs longer term goals!
Wha I really like about you is you give advice, then encourage starting where you are at. You also provide realistic timelines and examples of how to handle common challenges people face with this.
Your niche is SOOOOO SATURATED but you are seriously one of a kind. Today it all clicked for me. I didn’t think it was attainable but you simply talking about making it a goal, trying it out for a year or how to accelerate your wealth.
You’re actually beginner friendly.
Seriously. Thank you.
I appreciate you sharing this!! 🙏🏽🙏🏽 I agree there’s a lot of finance content out there, and sometimes it just takes reps. More exposure and hearing different voices & different perspectives will eventually make things click. There were some finance concepts that took me 3 years to learn-they clicked right before I took my financial planning exam just in the nick of time😅. Keep at it, and break everything down into the smallest steps possible!!
Thank you for that bonus tip really helpful❤
Great content!!
Very educational 🎉🎉🎉🎉🎉🎉❤❤❤❤❤😊😊😊😊 Thank you
Appreciate the comment, hope this video helped you! 💪🏽
I firmly believe getting into the 1% takes more than just habits. Good fortune is required as well.
That being said, I think getting into the top 50% is attainable for "everyone" through habits and consistency. Yes, poor fortune will exclude *some* people, but that's life and you can't completely cover *all* scenarios all the time.
I agree with this! I mean unfortunately the 1% is a moving target. I think doing well financially (or succeeding in life in general) is a mix of hard work, luck, and privilege… I just haven’t worked out the percentages lol i think it varies by person. Appreciate the comment sharing your thoughts! ✨
Hi Lisa. Is it better to prioritize paying off debt or to save for emergency fund first?
Great question. As always it depends on your particular situation, so there isn't one way to go about it. When it’s possible, do both. For example, some people will build a small emergency fund while making sure they pay their minimum debt payments. I have a video that talks about this! - th-cam.com/video/OdWL3PyGO2Y/w-d-xo.html
Love your content ❤ What would you suggest I do for a cc debt of 20G? Use my 401, get a loan, or do a debt consolidation? Help!
Thank you for watching!! To answer your question: It depends! What's MOST important is that you have the debt under control (meaning you're not taking on more debt) and that you're living within your means. From an educational standpoint, moving debt & consolidating can be beneficial if it helps keep you organized AND if you'll save on interest. Look out for future videos on how to manage debt! ✨
Excellent video sis, I haven't applied any rules yet but im currently trying to pay my bills 3 to 4 months in advance, so it's like an emergency fund except it's already paid. Thank you for your videos
@@Grow-Glow-Inspirations that's another great strategy!! I use YNAB to manage my spending and they have a concept which is similar to this -- it's called "aging your money" if you're interested in learning more. Basically, the goal is to keep your money in your possession longer. Instead of money coming in Month 1 and going out Month 1.... it comes in Month 1 and you keep it til Month 2, 3, 4, etc, further into the future. Sounds like you got a good system 🙌
@@wealthforwomenofcolor wow, I've never heard of this. Thank you for sharing! Have a great weekend
I am 36 years old with salary of 850k a year. Its not hard to save people! I am able to just live off 25% of my income and save the rest. Just need to live below your means.
25 50 25
More power to you if you can prioritize investing that much of your income! 🔥
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
As a newbie, what do I need to do? How can I invest, on which platform? If you know, please share. I'm new to this, please how can I contact her?
Use her name to quickly conduct an internet search.
SHE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
Infurnaevely1 she’s verified
This is helpful, thanks ....gotta message her right away.
Why this and not just a 50/30/20? Why do you think it works better than the basic rule?
Hi! Thanks for the question. I address this around 10:44! Compared to the 50/30/20 rule, 25/65/10 actually dedicates more $$ towards things I consider to be wealth building activities. But remember these are all rules of thumb! There are more in depth calculations you can do to figure out the savings rate you need to hit your financial goals. Feel free to do what works for you ✨✨
Leave the victim mentality in the garbage. Otherwise good content.