I'd get a 30 year mortgage and pay extra on the principal, enough to pay off in 15 years. If something bad happens, you are only obligated to the lower 30 year monthly payment.
I want to know how this is calculated. Is it a survey? Is it bank reporting? I have accounts with less than $1000 but the total is well over. How is this calculated?
I assume that many of the 60% without $1000, do so by choice. Sacrifice $20/wk and you will have the $1000 in a year. But some refuse to sacrifice anything. Possibly because they don’t think they need an emergency amount.
They either think they don't need it for emergency or they rather pay on credit cards until an emergency pops up so they can put it on the credit card 😅 it then turns into a cycle
A lot of people buy expensive houses and cars, then they buy expensive furnitures to fill the house all in loans. Sad but true. I’m glad I do not chase approval from others. I live my life the way I want it so I only buy the necessities but we do eat well without breaking the bank. Gotta stay healthy if you want to experience life that you have built over the years. The bottom line of it all is be content and be at peace.
$1000 over 6 months is even less than $41 per week. Calculation: 365 days divided by 2 equals 182.5 days, which is approximately 6 months. 182.5 days divided by 7 days equals approximately 26 weeks. $1000 divided by 26 weeks equals $38.46 that needs to be saved each week to reach $1000.
That exact experiment occurred in real life...in March of 2020 for one year spending was dramatically curtailed, the stock market soared.... Reason - the Stock Market is not the Economy just at the Share Price of a stock, is not the Company. Also Wall Street does not care which party is in power, they will make money no matter what happens.
The FED started raising rates too late. But it is dangerous to raise them this quickly without waiting for prior increases to take effect. At this pace there will be overshoot. My garden of stocks is doing really well. High-quality high dividends stocks and very carefully chosen other stocks from very profitable companies. Investing if you have the cash is awesome in a down time. I'll keep practicing the High Frequency Tradin style and I'm still green so I'll be just fine. There are a lot of very undervalued stocks out there. Take advantage while we can 😎
I'm looking out for a better investment strategy, I have a lump sum that inflation is eating up. I intend to invest long term and just leave the funds ‘locked away’ for at least 5 years forgetting about it.
@@lutherscott1943 My funds are pretty much diversified. I copy trades from a US regulated br0ker/ advisor Mary Freed Lorenz and it's been a huge relief. Good earnings and little to no engagement at all on my part. Her stock picks are top notch. My aggressive port folio returned approximately 29% in Q4.
My dividends are look solid too but I'm down 10% on growth stocks. The fact that we have not hit bottom yet scares even more. How does it work with your advisor? Do you hand over your funds to manage?
@@georgeleonard7599 No! You don't give out funds here that's the ideal for this system. My account only mirrors her trades in real time. you have control over your funds and Can as well opt out anytime.
Brian...if you can hold out until your 25th or 30th anniversary, go with the large earrings instead of an "updated" engagement ring...or, redo a wedding band...
I love listening to these gentlemen for strategy and options. I do hate all the humble brag on this show. “I’m a 40 year old stay at home mom. My husband and I have a combined net worth of a trillion dollars…” Come on, you want to know if you’re a financial mutant….?
Totally random but...Bo has a December Starbucks colored cup of coffee. Was this prerecorded back in December but just uploaded recently? Where I live that cup has been long gone lol
Bask Bank is the highest rate I can find at like 4.25% per year, but it’s calculated monthly, so it’ll end up being more than 4.25%! I also used Current for a while, but I didn’t like the new terms and conditions a couple months ago, so now I’m just mostly in Bask and a local credit union!
It doesn’t have to start with $1,000 It can start with $50, $20, $10, even $5. But start, and be consistent when you get paid. If you struggle not to spend money, take $20-$30 and go to a coin shop or pawn shop and buy and Oz of silver. If that’s not your speed, but gift cards and put them in a box. Put cash in an envelope and have a trusted family member hang on to it. Point being, so something to separate yourself from the urge to spend money if you have to. But start, even if you have to start small. In a year or 2 you’ll be amazed how much it adds up over time….
How to build $1000 in savings. 1. Most people don't have much more than a cell phone but cheap providers usually have less quality service. If they didn't the other providers would have closed by now. 2. While there are some people with something expensive they shouldn't have bought, a lot of people actually have a bunch of cheap garbage that isn't really worth anything. 3. This is the real issue. People feel so hard done by, they eat their potential saving by going out all the time or if they go out infrequently, they splurge. Literally eating their profits. Nobody is saying to eat a can of cold beans nightly, but learn to cook. Doordash 3 times a day is killing you.
Even just driving to pick up restaurant food yourself instead of paying someone to deliver it saves quite a bit of money. But yeah learn to cook, it's healthier and often tastes better once you get the basics down and find recipes that you like.
John Hancock worst brokerage firm out there they are horrible. Still trying to get a small portion of funds that was transferred there after leaving a company it’s been more than two years. They make it nearly impossible to do the paperwork so they charge fees that are ridiculous for nothing.
How does a pension affect your 25% rule? Like if it replaces 30%-40% of your income when you retire. I am just curious since I know there are some jobs that it is still a possibility
They say to make it part of the 25%, and whatever you will need in retirement, take into account the pension. I.E. If you need 100K in retirement, and your pension gives you 50K annually, you need 50K from investments.
Yeah I've just been keeping my emergency fund in my checking account, might have to change that now that savings accounts are actually paying above 1%...
Not really, it's a 60/40 mix of stocks and bonds. When most people talk about income investing they're thinking of stocks that pay dividends rather than bonds. While they both pay you money every month, dividend paying stocks also offer inflation protection because you own shares of a real asset, whereas bonds do not.
@@dforrest4503 In this case inflation doesn't matter, you're borrowing money then investing that money (just in a savings account) so you're not effected by inflation because it's reducing the value of the loan at the same rate as it reduces the value of the money in your account.
@ 47:10 doesn't the 7-10 year horizon for buying a house change based on interest rate? You will pay a lot more in interest at 6% than 2% in those first few years. Just a few years ago I remember people were saying make sure you want to stay in that house for 3-5 years. Similarly, if you have a 15 year mortgage you are going to pay much less in interest those first few years compared to even a 30 year mortgage at the same interest rate. For this discussion the 7-10 years feels a bit conservative to me..
Most Americans are uneducated, especially in terms of finance. Schools do not teach any type of personal finance. Credit cards are thrown at all and any. It's NORMAL that we live in debt constantly. The thought of being in control of finances and NOT living in debt is probably mind boggling for the VAST majority of Americans. How Americans think about money is totallyyyy different than anywhere else. We don't need $1000 in cash when we have credit cards and bankruptcy and insurance.
Like I am all for financial education in school cause it may reach at least some, but let's be honest. The people who are most likely to be bad at finances, are pretty bad at math cause they just don't care. Personal finance, specifically saving, is simple addition and subtraction. Its the same thing about weight loss. It's all what comes in and what goes out. Some people are uneducated in it, but from my experience in trying to help friends and family, they don't care or make excuses.
@@mattcanterbury I don't get how people can not care about something that's rapidly destroying their life, especially when they seem to spend every waking moment whining about how they're broke while also wasting all their money...
I’m really not sure why anyone is surprised. Look at average incomes and then look at rents, home prices, food costs, energy costs, vehicle prices, etc. It’s simply not possible for most people to save money. Let alone save 25% a month lol.
And yet so many of these poor people have thousand dollar cell phones, drive fancy cars that they lease or bought new with a massive loan, and eat out constantly instead of cooking for themselves which is WAY cheaper...
I'm not sure I'm on-board with how you guys are using this stat. I have 4 months of cash saving, but I also have 2 bank accounts with different institutions with less than $1000 dollars in each(used to pay certain bills, or transfer money to family). Both those institutions would report me in that stat, despite me having ~15x that in my cash reserves. I'm pretty sure that's the norm, and where the bulk of this 60% comes from.
Metal shift success for me now is..I'm only focusing on paying the minimum +$1.00 on every credit card. I am stashing cash..keeping cash in case of a power outage resulting in atms, gas pumps not working..saving money at gas stations that offer cash discounts..I can always pay extra in a credit card when I have extra money. Be careful that paying the minimum at least covers the ever increasing interest rates.
How do you define whether a person has $1,000 or more in savings? Joe Blow might have nothing in his savings account but plenty in checking for bills and wealth in brokerage accounts. Not everybody likes savings accounts.
I don't have 1000 dollars in my bank account because I'm transferring money into my brokerage account every month. There must be a lot of people like me in the 60 percent.
@@justthebrttrk No. I don't want to take six months' worth of savings out of my brokerage account. I know it could be risky but I'd rather keep my money working for me.
How do they know how much money each individual has? Could it be that people have multiple bank accounts and keep less than 1,000 in each because it’s a sinking fund?
Brian, I hope you aren't drinking a diet drink with an artificial sweetener. those are all very bad for you. coffee, and tea, are much better for you, even with real sugar. even real soda with real sugar is better. artificial sweeteners are not worth it.
I too don’t have $1000 in savings, but that’s because my money is invested. Anyone else in a similar boat? My take is I don’t need cash savings since I can use my credit card as a buffer while I withdraw from my multi-million dollar investment account.
and the people without $1,000 for an emergency are the ones spending 3 months of income on a ring probably.....only in America are you obligated to spend 10 times as much as someone making $25k , on a symbol of love , if you make $250k ...lol
You're not obligated to do anything. Don't marry someone who expects you to spend 3 months of your income on a ring. If she rejects your proposal because the ring wasn't big enough, count your blessings and move on. You could also look at lab grown diamonds, the quality has massively improved in the last few years. I got my now wife a 4 carat lab grown diamond for her engagement ring, under $200 at an antique store and it looks indistinguishable from a natural one except under a microscope. (She knows it's lab grown, she just wanted something to show off to friends and family)
Getting life insurance for children is so insane. It's like these parents are expecting their children to die and hoping to get a pay out out of it. It's so bizarre. That child is NOT making any income (unless of course you have slaved them out to be content creators or something). Why would they need insurance? It's horrible to say, but if a child dies, you have less expenses. It makes no sense to get insurance for a child.
Who is “mocking them for being poor”? You realize we are holding the ladder up and out- we both come from poor. I encourage you to hang around and turn that frown upside down 👍
Only if I could get a dollar everytime Bo gets excited 😆
You'd have $1000 by the end if this show, lol
"I'm excited!!" - "No youre not" lmao you guys crack me up
Can we get a pocket Bo? It would say things like, "I'm excided about this one!" and "Max your contributions!"
Love the idea
Opening Bo: "I am so excited about today's show because...".
I really look forward to their show. One of my faves on YT.
Another perspective on life insurance for kids is the grieving period, where you may not be emotionally able to work for a little while.
I'd get a 30 year mortgage and pay extra on the principal, enough to pay off in 15 years. If something bad happens, you are only obligated to the lower 30 year monthly payment.
I want to know how this is calculated. Is it a survey? Is it bank reporting? I have accounts with less than $1000 but the total is well over. How is this calculated?
According to the bank rate website, it's a self-reported poll.
I assume that many of the 60% without $1000, do so by choice. Sacrifice $20/wk and you will have the $1000 in a year. But some refuse to sacrifice anything. Possibly because they don’t think they need an emergency amount.
They either think they don't need it for emergency or they rather pay on credit cards until an emergency pops up so they can put it on the credit card 😅 it then turns into a cycle
New York Life still have Class A, B and C shares o the Mutual Funds that they sold on their IRA’s.
Some of them charge a 0.8% to 0.9% expense ratios
A lot of people buy expensive houses and cars, then they buy expensive furnitures to fill the house all in loans. Sad but true. I’m glad I do not chase approval from others. I live my life the way I want it so I only buy the necessities but we do eat well without breaking the bank. Gotta stay healthy if you want to experience life that you have built over the years. The bottom line of it all is be content and be at peace.
Expressing our level of commitment with how nice an engagement ring ring is will be seen as a primitive belief in 50 years, like a dowry is now.
Quote of the day: “Nothin sucks until it sucks” - Bo Hansen 😂 31:04
Does she remind anyone else of Brett Cooper? The coloring and the voice. I can’t unsee it 🫣
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
A very insightful show!Thank you guys!!
Top 43% gang lets go!
$1000 over 6 months is even less than $41 per week. Calculation: 365 days divided by 2 equals 182.5 days, which is approximately 6 months. 182.5 days divided by 7 days equals approximately 26 weeks. $1000 divided by 26 weeks equals $38.46 that needs to be saved each week to reach $1000.
Wonder how much the stock market would crash if the average over-consumer completely cut back and focused on saving.
I think it depends on how quickly that change took place. In the long term, it would be good for the economy, but a sudden shift could cause a crash.
That exact experiment occurred in real life...in March of 2020 for one year spending was dramatically curtailed, the stock market soared.... Reason - the Stock Market is not the Economy just at the Share Price of a stock, is not the Company. Also Wall Street does not care which party is in power, they will make money no matter what happens.
The FED started raising rates too late. But it is dangerous to raise them this quickly without waiting for prior increases to take effect. At this pace there will be overshoot. My garden of stocks is doing really well. High-quality high dividends stocks and very carefully chosen other stocks from very profitable companies. Investing if you have the cash is awesome in a down time. I'll keep practicing the High Frequency Tradin style and I'm still green so I'll be just fine. There are a lot of very undervalued stocks out there. Take advantage while we can 😎
I'm looking out for a better investment strategy, I have a lump sum that inflation is eating up. I intend to invest long term and just leave the funds ‘locked away’ for at least 5 years forgetting about it.
@@lutherscott1943 My funds are pretty much diversified. I copy trades from a US regulated br0ker/ advisor Mary Freed Lorenz and it's been a huge relief. Good earnings and little to no engagement at all on my part. Her stock picks are top notch. My aggressive port folio returned approximately 29% in Q4.
My dividends are look solid too but I'm down 10% on growth stocks. The fact that we have not hit bottom yet scares even more. How does it work with your advisor? Do you hand over your funds to manage?
@@georgeleonard7599 No! You don't give out funds here that's the ideal for this system. My account only mirrors her trades in real time. you have control over your funds and Can as well opt out anytime.
The number of drinks y'all have is growing faster than my index fund 😂
I love their character and relationship
Brian...if you can hold out until your 25th or 30th anniversary, go with the large earrings instead of an "updated" engagement ring...or, redo a wedding band...
Fun one today.
Avoid load funds , all it is to make wall street types more money!
I love listening to these gentlemen for strategy and options. I do hate all the humble brag on this show. “I’m a 40 year old stay at home mom. My husband and I have a combined net worth of a trillion dollars…” Come on, you want to know if you’re a financial mutant….?
What a joke 😂😂😂😂 most people can’t get $1000 together and this lady is worried about 2.5 million. Troll.
If they earn 500k a year then they are potentially not.
Stating their portfolio value without their income is pretty useless.
@@bishamuesmus301 no. It would be their own fault for lifestyle creep.
@@bishamuesmus301 I’ll indulge you. Who the hell makes $500k a year and needs verification from these guys that they’re doing okay financially?
@@buckbiro Sadly, quite a lot of people. And if their portfolio is $2.5M with a decade of $500k income, they're probably not financial mutants.
Tell em Bo. Im excited too!!!
If Boe is not excited then I must be dreaming
I boot strapped a business to come up with extra money when we were a single income family. It made all the difference. Tough … but good.
I'm 29yo now, I've been working and saving since I was 15yo. This stat is just wild to me.
3:46 I do this bout south bank bonuses
If you’re under 1000 you need to pull the Dave Ramsey card and be a active till you have a few thousand
Omg that's so sad 😢
I really hope people aren't paying $200 a month for a gym membership. 11:40
I'm one of those people lol 😂
Totally random but...Bo has a December Starbucks colored cup of coffee. Was this prerecorded back in December but just uploaded recently? Where I live that cup has been long gone lol
I’m not worried.
The government will bail me out.
Bask Bank is the highest rate I can find at like 4.25% per year, but it’s calculated monthly, so it’ll end up being more than 4.25%! I also used Current for a while, but I didn’t like the new terms and conditions a couple months ago, so now I’m just mostly in Bask and a local credit union!
Minnwest Bank..Mn .SD..many others. Check with Nerdwallet
Hold up. We can do a studio tour? My wife and I are touring Nashville in April. How do visit you guys and get the tour?
Wonder what % can't come up with $10,000? Guessing it's going to be around 90%
Only 15% of Americans have 10k saved or more. Just looked it up. You were close. I would have guessed the same
It doesn’t have to start with $1,000
It can start with $50, $20, $10, even $5. But start, and be consistent when you get paid.
If you struggle not to spend money, take $20-$30 and go to a coin shop or pawn shop and buy and Oz of silver. If that’s not your speed, but gift cards and put them in a box. Put cash in an envelope and have a trusted family member hang on to it. Point being, so something to separate yourself from the urge to spend money if you have to. But start, even if you have to start small. In a year or 2 you’ll be amazed how much it adds up over time….
Or just stop being a white girl from wayzata and learn some freaking discipline...
I tell my friends who get coffee all the time, in their 20s, if you get coffee 3 times a week for 7 dollars they’re spending a thousand a year
I enjoyed the 4 hours of sleep Brian.
How to build $1000 in savings.
1. Most people don't have much more than a cell phone but cheap providers usually have less quality service. If they didn't the other providers would have closed by now.
2. While there are some people with something expensive they shouldn't have bought, a lot of people actually have a bunch of cheap garbage that isn't really worth anything.
3. This is the real issue. People feel so hard done by, they eat their potential saving by going out all the time or if they go out infrequently, they splurge. Literally eating their profits. Nobody is saying to eat a can of cold beans nightly, but learn to cook. Doordash 3 times a day is killing you.
Even just driving to pick up restaurant food yourself instead of paying someone to deliver it saves quite a bit of money. But yeah learn to cook, it's healthier and often tastes better once you get the basics down and find recipes that you like.
The bunch of crap is a huge problem.
Can someone explain to me how Bankrate knows this?
They called 1000 people asking them if they have 1000 $ in saving to used for emergency at that moment or not.
John Hancock worst brokerage firm out there they are horrible. Still trying to get a small portion of funds that was transferred there after leaving a company it’s been more than two years. They make it nearly impossible to do the paperwork so they charge fees that are ridiculous for nothing.
Mine set!! I always when buying things. Think of how long did I have to spend at work(life) to pay for it. One hour, a day, a week?
Money, money, yeah...yeah
What about pre-paying a mortgage you have on an investment property? Could that be included in your 25% as investing?
No reason to prepay when you can write off the interest.
@@ewindeed1210 With the higher standard deductions, itemizing doesn't apply to most people
@@arh1234 OP specifically said investment property, most people with those have enough deductions it's worth itemizing.
Came for the financial advice, stayed for Rebie
How does a pension affect your 25% rule? Like if it replaces 30%-40% of your income when you retire. I am just curious since I know there are some jobs that it is still a possibility
They say to make it part of the 25%, and whatever you will need in retirement, take into account the pension. I.E. If you need 100K in retirement, and your pension gives you 50K annually, you need 50K from investments.
What if the company folds and takes the pension with them?
Nobody weights the “high” risk of having a mortgage, get that thing payed off! No matter what the interest rate is!
At least he didn't say carpet muncher again!
But you did.
Bets on Bo not being excited?
Too late!
What are some good places for high interest savings accounts
I use ally online savings, 3.4%. I think the capital one online savings is around the same. There are better ones for sure though.
Saving dint most people have a checking account
Yeah I've just been keeping my emergency fund in my checking account, might have to change that now that savings accounts are actually paying above 1%...
21:03 Does this "debt" include debt that has been collateralized?
Is the vanguard 60/40 life strategy a growth and income fund?
Not really, it's a 60/40 mix of stocks and bonds. When most people talk about income investing they're thinking of stocks that pay dividends rather than bonds. While they both pay you money every month, dividend paying stocks also offer inflation protection because you own shares of a real asset, whereas bonds do not.
If you can borrow at 2% and get 4% in a savings account with zero risk do that all day every day.
Except that inflation is a lot higher than that.
@@dforrest4503 In this case inflation doesn't matter, you're borrowing money then investing that money (just in a savings account) so you're not effected by inflation because it's reducing the value of the loan at the same rate as it reduces the value of the money in your account.
@ 47:10 doesn't the 7-10 year horizon for buying a house change based on interest rate? You will pay a lot more in interest at 6% than 2% in those first few years. Just a few years ago I remember people were saying make sure you want to stay in that house for 3-5 years. Similarly, if you have a 15 year mortgage you are going to pay much less in interest those first few years compared to even a 30 year mortgage at the same interest rate. For this discussion the 7-10 years feels a bit conservative to me..
Most Americans are uneducated, especially in terms of finance. Schools do not teach any type of personal finance. Credit cards are thrown at all and any. It's NORMAL that we live in debt constantly. The thought of being in control of finances and NOT living in debt is probably mind boggling for the VAST majority of Americans. How Americans think about money is totallyyyy different than anywhere else. We don't need $1000 in cash when we have credit cards and bankruptcy and insurance.
Like I am all for financial education in school cause it may reach at least some, but let's be honest. The people who are most likely to be bad at finances, are pretty bad at math cause they just don't care. Personal finance, specifically saving, is simple addition and subtraction. Its the same thing about weight loss. It's all what comes in and what goes out. Some people are uneducated in it, but from my experience in trying to help friends and family, they don't care or make excuses.
@@mattcanterbury I don't get how people can not care about something that's rapidly destroying their life, especially when they seem to spend every waking moment whining about how they're broke while also wasting all their money...
The rich and govt want everyone in debt to be slaves until we age. 😢
I’m really not sure why anyone is surprised. Look at average incomes and then look at rents, home prices, food costs, energy costs, vehicle prices, etc. It’s simply not possible for most people to save money. Let alone save 25% a month lol.
And yet so many of these poor people have thousand dollar cell phones, drive fancy cars that they lease or bought new with a massive loan, and eat out constantly instead of cooking for themselves which is WAY cheaper...
@@elmateo77bro u can't comprehend
I mean, is that 50% inclusive of 20% children/student population?
It’s most likely adult population. Student probably included.
Adults age 18+
Hopefully an adult child will keep an eye out on parents so I contend there can be an insurable need to insure children.
I'm not sure I'm on-board with how you guys are using this stat. I have 4 months of cash saving, but I also have 2 bank accounts with different institutions with less than $1000 dollars in each(used to pay certain bills, or transfer money to family). Both those institutions would report me in that stat, despite me having ~15x that in my cash reserves. I'm pretty sure that's the norm, and where the bulk of this 60% comes from.
The stat isn’t from those institutions, bank rate is self reported
Metal shift success for me now is..I'm only focusing on paying the minimum +$1.00 on every credit card. I am stashing cash..keeping cash in case of a power outage resulting in atms, gas pumps not working..saving money at gas stations that offer cash discounts..I can always pay extra in a credit card when I have extra money. Be careful that paying the minimum at least covers the ever increasing interest rates.
You're sitting on cash when you have credit card debt that's probably at 20%+ interest rates? Ok...
How do you define whether a person has $1,000 or more in savings? Joe Blow might have nothing in his savings account but plenty in checking for bills and wealth in brokerage accounts. Not everybody likes savings accounts.
I don't have 1000 dollars in my bank account because I'm transferring money into my brokerage account every month. There must be a lot of people like me in the 60 percent.
@@justthebrttrk No. I don't want to take six months' worth of savings out of my brokerage account. I know it could be risky but I'd rather keep my money working for me.
If you’re putting $1,000 away each month, wouldn’t you necessarily have access to an extra $1,000 each month?
@@justthebrttrk That would be a very bad month.
@@travislchristensenyour emergency fund isn’t supposed to make you rich, it’s insurance for your investments
How do they know how much money each individual has? Could it be that people have multiple bank accounts and keep less than 1,000 in each because it’s a sinking fund?
People with sinking funds would have no issues coming up with 1k in am emergency. This survey is probably self-report, I'm not sure.
@@AllTheArtsy one of my sinking funds has 800 dollars because it’s for clothing and I have a lot right now so I don’t need anymore.
It was a self report survey from bankrate.
Brian, I hope you aren't drinking a diet drink with an artificial sweetener. those are all very bad for you. coffee, and tea, are much better for you, even with real sugar. even real soda with real sugar is better. artificial sweeteners are not worth it.
I too don’t have $1000 in savings, but that’s because my money is invested. Anyone else in a similar boat? My take is I don’t need cash savings since I can use my credit card as a buffer while I withdraw from my multi-million dollar investment account.
and the people without $1,000 for an emergency are the ones spending 3 months of income on a ring probably.....only in America are you obligated to spend 10 times as much as someone making $25k , on a symbol of love , if you make $250k ...lol
You're not obligated to do anything. Don't marry someone who expects you to spend 3 months of your income on a ring. If she rejects your proposal because the ring wasn't big enough, count your blessings and move on.
You could also look at lab grown diamonds, the quality has massively improved in the last few years. I got my now wife a 4 carat lab grown diamond for her engagement ring, under $200 at an antique store and it looks indistinguishable from a natural one except under a microscope. (She knows it's lab grown, she just wanted something to show off to friends and family)
It could be that person is spending $2000 a month for child care. I have met plenty of wealthy people shocked by the price of childcare
Getting life insurance for children is so insane. It's like these parents are expecting their children to die and hoping to get a pay out out of it. It's so bizarre. That child is NOT making any income (unless of course you have slaved them out to be content creators or something). Why would they need insurance? It's horrible to say, but if a child dies, you have less expenses. It makes no sense to get insurance for a child.
Some people get a small insurance policy (ex $10k) to help pay for funeral costs.
Maybe if their child dies $500k in cash will help them feel better...
You've never paid for a funeral have you?
@@peeonthe3rdrail414 if you cant pay for a funeral but you expect to be able to raise a child.... you've messed up
@@AllTheArtsy It's almost as if having children isn't always planned.
Maybe go meet some poor people and you will understand them better rather than mocking them for being poor.
Who is “mocking them for being poor”? You realize we are holding the ladder up and out- we both come from poor. I encourage you to hang around and turn that frown upside down 👍
Bo’s math is incorrect. There aren’t 4 weeks in a month.
There are in February.