Hello Aluxers,! How do you think you’ll face this challenge? Mind Mastery: www.alux.com/meditation Get a free audiobook thanks to Audible: www.alux.com/freebook Disclaimer: signing up for Audible will result in financial compensation towards Alux Inc at no additional cost to you, the consumer. 15 BASIC MONEY SKILLS Everyone Should Know: y2u.be/Ke7vrPoVseI
It is an interesting path to great wealth....watching TH-cam videos. Kind of sad though that "we at Alux" apparently are so poor that have to make videos and try to sell "courses" to people least able to spot a scam. Wonder why "we at Alux" aren't billionaires or millionaires or even well off enough to retire early.
I believe the biggest reason why the vast majority of our generation suffer financially and emotionally is because so many people live in the past (depressed), so many people live in the future (anxious) and only a small fraction of us is at true peace, living Now and in the moment. What do you think Alux?
There are a few solutions: - Move from big cities to small towns where expenses are a lot lower - All through your life, take good, very good care of your health. Which will mean almost zero medical expenses in old age (Don't say this is impossible, I have see people in 70's 80's hale and hearty) - Cut down on modern unnecessary gizmos, luxury brands etc Live a simple, meaninigful life - Passive income, smart investing etc - Last, don't (aspire to) live into very old age...being a burden on society, family and friends... Exit the game at the top.
Living in small towns is now a very real possibility for a lot of people now, I always thought that the big city life is very glassy and artificial, you can not find peace, I mean it does have it's upsides and you could have a lot more fun if you are young and adventurous but when you want stability in life smaller towns are always the best option. You get a significantly better quality of life. I would say the best thing to do is if you can, move to a town that is nearby a city. That way you will have the best of both worlds.
@@brownerjerry174 In small towns, you only get a better quality of life if you're from that town. People in small towns are quite clannish & stick to their own. If you choose to go the hillbilly hell route (these places are all over the US & probably the world), for goodness sake have reasonable access (like within 30 minutes away) to the larger towns who are more open to outsiders.
@@seanb6478 okay, i think i might have used the wrong word, i grew up in a town of about 50k and always thought it was a small town, everybody around called it a small town too, and that is what i meant by the use of that word. i can see if you thought of a sleepy 1k-2k population close-knit community by the word 'small town'. i should have used the word town, or small city maybe. My town is pretty open to newcomers, Even more if you are a Conservative.
In 1964 we were told we would have to work to 75 until we could retire. Retirement is not the goal. Life is too short to work at a job you hate. Find your passion and choose life. The rest will take care of itself.
Short story: my friend's dad had no high school diploma. He got a job at a car manufacturer though. He retired as a manager, who bought a $700,000 home. His son has a college degree and makes $20,000 yearly salary.
@@chrisdelia.7212 This is a scam. There are hundreds of comments across TH-cam with gurus that give signal and help double or triple money in couple weeks. Investing is not a get rich quick scheme.
That what everyone is doing right bow. House market is overpriced and so is it the stock market. Ruining it for everyone who was doing it before all the amateurs
@@OS1540 exactly using your parent’s money (if you haven’t get a job yet) to invest in a stock marketing funds dollar by dollar & work in a portfolio to ensure secure & stable investment
@@aquaticasmr184 I’m from a different country where parents do some had scholarships but overall the parents helped paid you for the struggles you can get by and enjoy yourself whenever you can possibly for leisure & food, I’ll make sure to make investment so vast, it’s more than enough to hand them back the sacrifice for them & entrust the money when I’m planning to go back to study 2nd degree related to my 1st degree when I’m abroad....
One of many plans is to build a self sufficient, off grid home for my retirement. That way I own the land and the home, have minimal costs for utilities, and can continue working into my old age with growing my own food as the hobby. One way to retire is to save and invest, but another way that people don't think about is lowering your cost of living as well.
At least in the States, no one man can own his own land. Imminent Domain clause has it to where at any point or circumstance, Uncle Sam can and will detain, slightly compensate, or slaughter you will no remorse. Best of luck trying to stop the skull drag grind🙏
I bought a duplex to live in one unit and rent out the other. The rent goes a long way to help pay the mortgage, leaving me with more for investments. It will be paid off by retirement age. It will be a nice supplement to my retirement getting rent every month. It helps to be a jack of all trades, doing all the repairs myself. Last year I put a new roof on myself. I did have to buy a lot of pizza for my friends to help 😄, but I saved a ton of money!
@@elizabeths.3634 Well that depends on how it works out for the renter. The renter get a place to live which they are force to pay for because they have no other options.
Planning for retirement is the key, unless you have very wealthy parents (or grandparents) who will fund it for you. But that is rare. I have met such people. Often, they are aimless and tend to become addicted to drugs. Because I was born poor in Detroit, I realized that the only way I would retire is to plan for it. 1. Never replace a car until it is at least 12 years old. Take care of it and change the oil every 4 months. It is worth the money and effort if you can do it yourself. 2. Always save money prior to retirement. We no longer save money because we don't have to. 3, Plan on leaving the expensive Democrat run areas as soon as you retire and your house is paid off, which it must be prior to retirement. 4. Avoid fancy stuff. It is not necessary. Buy for quality but unless you use an item at least every 6 weeks, chances are it is unnecessary. 5. Join a health club and exercise regularly. Eat as close to vegetarian as possible. 6. Avoid "sin" drugs like alcohol, drugs and tobacco. They are poisonous. 7. You can probably live quite well on half of what you spend now. This is important for your ability to save money. 8. All the "fancy investing" you do is useless unless you save money to invest. You actually have to save it first. 9. "What you put your money in" and where is less important than just SAVING it to invest. 10. If possible, and you can afford it, purchase rental Real Estate. Some professionals like doctors and dentists try to create fancy risky professional investments that are dangerous because they can lead to Government audits. Rental Real Estate is much less dangerous professionally. Sanjosemike (no longer in CA)
Im lucky that i was born in Denmark but im even more happy with i found out what job i wanted(Masonry) and the demand for it is high and few people go after that kind of work in Denmark. Also that i found a mentor doing the kind of work i want to so all i need to do is get my school stuff done but lovey video Alux!
The general public needs to get away from the living from hand to mouth. For the typical person nowadays, everything that isn't bill money is disposable income. And we get can't seem to dispose of it fast enough. I spent way too many years in this trap. I grew up really poor and got used to spending money before some emergency came by to take it away before I could enjoyed what I earned. There are a lot of people out there who, like it or not, agree 100% with me on this. The bright side is that once you allow yourself to develop a the proper mindset, it's absolutely shocking how little you can get by on. For example, many people complain that they never even go out to eat anymore. What they don't tell you is that they don't consider fast food eating out, so they don't realize their daily habit is literally eating out at least once a day. The number of people out there that spend at least one day's pay a week on "convenience eating" is jaw dropping. You're not saving money by eating lunch from Chipotle every day. The first and best way to see immediate savings is to learn how to pack a lunch. At work, I can typically make my lunch for the week for less than $20. What's really crazy about that is that I work 12 hour days so I get 2 meal breaks at work. And I normally work 6 days a week. I can make 12 good meals for under $20. Most people going out to lunch can't make $20 last 2 meals. This is insane. If you're in a low wage job where you're taking home less than $500 a week, going to eat with your buddies at work more than once a week or two is too wasteful. I know far too many people who spend around 20% percent of their income eating out! I guarantee most of you guys who are more or less "starting out" know at least one person like this. Get smart about your food. This is the fastest area to free up money. Even a "foodie" can feed themselves well at home for round $75 a week, or even less. That beats the hell out of grocery shopping and spending $100 a week on food. People simply have to learn to prioritize again. In the age of instant gratification, we've forgotten the difference between a necessity and a staple. Nobody needs their daily $7 coffee from Starschmucks. And nobody benefits from a fast food lunch every day. Respect your physical and financial health. Pack a lunch instead of a debit card.
#Alux First you're right, I don't see myself ever going to retire. But as you said in your bonus, I don't think I'll ever want to retire. The day and age when everyone is either a farmer or a factory worker is gone. We're living in the day and age where if one want to remain big most likely one will have to become either a business owner or a white-collar worker. As you said at the end we are the generation who not only should make money doing something we like, but pretty much have to, because if one doesn't like doing something then one is going to be bad at doing it when one gets old. And if one are not going to be business owners or white-collar workers then maybe one should avoid living in expensive cities.
I'm 51 and retired 3 years ago. The key is that we have to teach our children as early as possible to prepare for early retirement. It's not as difficult as you might think
@@10RBREEZY I have residual income from several sources and own a few businesses. My children will also make sure I'm okay if my money ever ran out. But the amount I saved will probably never run out lol
@@10RBREEZY oh and I live in the Philippines as well so we dont have a parasitic government that taxes us to death. That part is important--going to a place your money will go further, if possible
Listen people, it's total crap. The chances of not enjoying a good retirement is not because we can't or don't have the same,similar opportunities as our parents. It's simple math, we (and myself but thank God I realized early on what I was not doing) lack planning. Most were busy partying and wasting the majority of our income year, after year decade after decade. Learn to save, learn to save for the future. Plain and simple. Most people spend more time learning how to maneuver through stupid facebook and have no idea how to maneuver or manager their finances. It's all about priorities.
Retirement is for people who hate work. Take breaks in between don't rest forever. We can rest forever in the grave. If your health gets bad just work part time or something it will probably improve your health. You will be up and about instead of sitting with your feet in the grave on a couch.
Here’s the solution to this problem. Read the following books: 1) Rich dad, Poor Dad - Robert Kiyosaki 2) The Millionaire Fast lane - MJ deMarco 3) The Side Hustle Bible - James Altucher Bonus: If you can find it- laissez-faire’ s Big book of free - laissez-faire Contributors
As an millennial baby I think I won't be able to own a house. But my parents have owned since their young age. Who knows what's going to happen next...... With 💖 from India
Luckily I am from Armenia and I have Canadian citizenship this means that unlike other armenians I have the opportunity to make a lot of money and buy a big house in Armenia for 200 thousand dollars the most which I plan to do. I will spend my 20s in usa and Canada and when it's time to settle down I'll move back home. I recommend everyone who is from foreign country to do this unless you don't want to live there
I thank God for my calculative move. I managed to shake legs for past 15 years & l pray for another 15 years. I took great pains to look in2 my health needs. Marriage? OUT. Love is painful & men are egoist & many are REAL Narsissist. Financial independence is crucial planning from the day l received my 1st pay check. Jesus is Lord. He guided me & protected me all these 70 years. What more to ask, but to be faithful to Him & true to His word.
This was a very good analysis. Concise, clear, filled with many nuggets of wisdom. As my parents told me 50 years ago: "Educate yourself, get a good job, exercise, eat good foods, buy a home, save and invest, or you'll be eating cat food when you're old." I feel sorry for the elders who have health or financial problems. mark o. Seattle, age 68, semi-retired, graduated from high school in 1971
Some cat foods are better than what folk in pored countries eat! They say it is a dog’s life but when I see the adverts for pilchards in spicy sauce!!!!!!
We must bear the consequences of the global pandemic. High levels of debt, dissatisfied societies, widening inequalities, reconstruction of health systems and political reforms needed. This takes time and zeal. Ps: That’s also a reason why our generations can’t retire that early.
That's why I made sure we became debt free, so that we could budget what I can for the retirement accounts and build any assets. In the end, there will be more in the long run than when I started out.
I'd talk to a tax advisor. You don't have to work to get the stimulus check, but you'll probably need to file $0 income to get it as a tax return. Either way, if you miss out then it's your fault for not even trying.
When you consider retirement steps to make and calculate first mortgage payed off before 65 years old credit cards debt payed off and no loans or car payment and no second or third mortgage and then you can retire debt free
Looks like your sort of people physically explode if you don't blurt out "how you're a single mother, and how difficult your life is", every 30 seconds or so. The society isn't responsible for your inability to take right decisions in life. (I am extremely sorry if you are a widow or something)
I was shamed for being a 47 year old man living in NYC and not having my own house! Not apartment…. House! Mind you the person who said this to me didn’t know anyone who had their own house (in NY) either 🤷🏿 Go figure
Hay Alux.com business: I am 63 earth years, Retired at 57 years of age. paid home off in 2007. Yep! I came at the right time into the world. Education drop out of 8th grade. Grew up on farm. Got a good paying job at 20 year of age. stay single watch how I use my money. Enjoy travel. If I can do it any one can. I never had a hand written plan just a idea in my head. Thanks for video.
I’m 21, since the pandemic I haven’t been able to make any money, but since I’ve been currently working on my podcast with a friend of mine and working on my art that’s in the works for an anime/manga book which had been idea since I was like 11 or 12. Hopefully I can find some work and get myself back in school.🙏🏽❤️
Learn to love activities that pay. I never had an interest in math, accounting and finance until I started reading in the area and then compelled to teach it.
If "work"is a four letter word, then change your occupation. And retirement is for those who hate what they do for a living. (barring health issues, injuries, disabilities etc...)
10:27 So what's the role of tecnology and automation?! A modern and intelligent person should work less compared to decades ago. Work is just a mean, NOT the goal.
We do work less, for what people had decades ago. If you are satisfied with a small house, a tv and basically nothing else but your clothes you don't really need that high of a salary.
I pray whoever reads and sees this becomes successful....God loves you, always remember that....i lost all due to pandemic..my channel is all i have...
I've been self employed and debt free a long time. I shop at thrift stores and drive paid for cars. My rule is if you don't have a savings extras are not an option. Ppl must group together as many people do from other countries and cut the fat. Many ppl are waistful. Groups are best for financial accountability. A Lux should start a biannual investment team. Perhaps have levels based on a critica.
I decided to give my relatives their inheritances seven years ago. That way they don't have to circle my house like buzzards on the wing (or is that vultures?). Without the added pressure, I've found my retirement years less stressful and much more enjoyable.
@@esakkiraj128 lol give me reason 🤣expensive schools + healtcare, stupid riots, a lot of junk food, no culture at all, goverment dosen't care about you when you're broke and finally TRUMP🤣🤣LOL idk
If I am healthy and in love with my job, why should I retire? I may not want to! Then again, life changes a lot, so I don't know what I will do or want 20 years into the future.
Why Alux has not mentioned about Annuity ? . I see it as a far better option than relying upon any government pension fund. Specifically a book mentioned by Alux in one of its videos, named, Money master the game explains in detail about Annuity.
@@GrnXnham actually they are, I know this channel is all about making it big, and f the 9 to 5, no victim mentality, motivation and all that, but maybe after 6 months or so when you mature a bit and come out of this bubble you'll see that yeah system is set up for buttf*king you throughout your entire career, unless you are in a country with fair wage systems and laws you'll be paid a wage way below what you deserve, that's just one example there are thousands of others. Have you ever seen a wealth inequality graph, there are websites that have those for all countries just look up. There is also an excellent documentary series by DW on wealth inequality in Germany, you should look that up too. I am a data scientist working in economics research so I know how odds are entirely stacked against an average person. I could have thrown a whole bunch of economic jargon and numbers but they wouldn't make much sense to a normal guy, so I highly suggest checking out that documentary.
I'll advice everyone to invest in stuffs like penny stocks and cryptos. It can generate short term profits for you. This ain't stopping anytime soon, just the beginning of the great recession
How does this whole bitcoin thing work, I'm interested in it and I'm willing and ready to invest heavily in it but I'm gonna need an assistant from any trusted and productive professional
I am bless that I stayed in the military for a long time before I did retired. And I am again bless that I am subcontractor which give me passive income. Prayer to our God Almighty will help each one of us to go through hard ship in life. Like Jesus Christ said lay your burden to me for my yolk is easy.
Forget that, build wealth through brute force, taking full advantage of the tax incentives to do so...in fact go far beyond full advantage and leave them a weeping, sticky mess on the floor each and every tax season.
Baby boomers don't know how lucky they were. They grew up in what was considered the most prosperous and financially stable time in American history. Back then ONE job could buy a house and support a family. Almost any job back then could get you success. Yes EVEN a minimum wage or part time jobs could support you. You could buy LAND with those kind of jobs. Almost any job offered healthcare, retirement plans, benefits, and livable wages. Jobs didn't require degrees or years of experience. Even collages and rental homes were much infinitely more affordable. Now just look at the economy now.
Hello Aluxers,! How do you think you’ll face this challenge?
Mind Mastery: www.alux.com/meditation
Get a free audiobook thanks to Audible: www.alux.com/freebook
Disclaimer: signing up for Audible will result in financial compensation towards Alux Inc at no additional cost to you, the consumer.
15 BASIC MONEY SKILLS Everyone Should Know: y2u.be/Ke7vrPoVseI
@@prakashgatiyala9869 Which Place Do You Live or Trust?
Forget life giving lemons, it looks like it won't give you bs and force you to grow lemons.
@James Parker lol fine, I guess you can't succeed without hoping to.
@James Parker 🤣 well I will wait for that day, let's see how successful you get.
@James Parker I am just a 16 year old, and your way texting makes me thing you have figured out life.
If you're a future billionaire (like this channel frames you as), you probably don't need to worry about this.
Yup.. I don't
Hire tax to pay pensioners should worry all of us who are future investors
@@devinodlum3492 Higher
It is an interesting path to great wealth....watching TH-cam videos. Kind of sad though that "we at Alux" apparently are so poor that have to make videos and try to sell "courses" to people least able to spot a scam. Wonder why "we at Alux" aren't billionaires or millionaires or even well off enough to retire early.
@@MrWaterbugdesign Yeah, they know the truth is having a cash generating asset like videos people watch!!!
Here’s how you’re gonna retire - *live on less than you make* - plain and simple
@Atty. Johnny Sins Personal Finance i see you Johnny Sins! 😜🤣
That's what I did when I was working full-time and this is what I have done since I quit working 2 years ago living on just Social Security
I believe the biggest reason why the vast majority of our generation suffer financially and emotionally is because so many people live in the past (depressed), so many people live in the future (anxious) and only a small fraction of us is at true peace, living Now and in the moment. What do you think Alux?
Agree
Facts 📠
Very relevant thought.
That’s a good point
Your wrong Baby boomers ruined it for our generation lol
Soo a channel about luxury is telling my generation is doomed to slavery! Now that's inspiring
🤣🤣🤣
Its the truth
Watch till the end of the video. Need to have a business.
This could inspire to change this for you for better
I’m 44 and have nothing for retirement but that’s on me. I got 20 years to make a change but need to start now.
I hope that you at least had a crazy fun life to look back at..
If you start ASAP you can still do it. I would try saving 20% of your income and investing it.
Ya first u gotta give up whiskey, cigar and Dark thoughts. 😅
There are a few solutions:
- Move from big cities to small towns where expenses are a lot lower
- All through your life, take good, very good care of your health. Which will mean almost zero medical expenses in old age (Don't say this is impossible, I have see people in 70's 80's hale and hearty)
- Cut down on modern unnecessary gizmos, luxury brands etc Live a simple, meaninigful life
- Passive income, smart investing etc
- Last, don't (aspire to) live into very old age...being a burden on society, family and friends... Exit the game at the top.
Living in small towns is now a very real possibility for a lot of people now, I always thought that the big city life is very glassy and artificial, you can not find peace, I mean it does have it's upsides and you could have a lot more fun if you are young and adventurous but when you want stability in life smaller towns are always the best option. You get a significantly better quality of life.
I would say the best thing to do is if you can, move to a town that is nearby a city. That way you will have the best of both worlds.
@Smelly Revolutionary Thank you
This is wonderful advice but you can't determine when you die
@@brownerjerry174 In small towns, you only get a better quality of life if you're from that town. People in small towns are quite clannish & stick to their own. If you choose to go the hillbilly hell route (these places are all over the US & probably the world), for goodness sake have reasonable access (like within 30 minutes away) to the larger towns who are more open to outsiders.
@@seanb6478 okay, i think i might have used the wrong word, i grew up in a town of about 50k and always thought it was a small town, everybody around called it a small town too, and that is what i meant by the use of that word. i can see if you thought of a sleepy 1k-2k population close-knit community by the word 'small town'. i should have used the word town, or small city maybe. My town is pretty open to newcomers, Even more if you are a Conservative.
In 1964 we were told we would have to work to 75 until we could retire.
Retirement is not the goal.
Life is too short to work at a job you hate. Find your passion and choose life.
The rest will take care of itself.
Short story: my friend's dad had no high school diploma. He got a job at a car manufacturer though. He retired as a manager, who bought a $700,000 home. His son has a college degree and makes $20,000 yearly salary.
I dropped out of high school and im a car salesperon money is okay or great depends on the person or the location.
My grandfather left us nearly $2,000,000
@@kav2000 my dad died left me nothing hardly knew em
You don't need college to be successful, you need brain, diligence and insatiable ambition.
@@pete531 this is true i dorp out HS and im car salesman money is good
Hopefully i can use this to switch into better sales
'15 best tax savers in businesses ' would be a good topic for next video
I see many business opportunities in these 15 reasons! Thanks Alux!!!
That's why you have to set up your own retirement fund through real estate and stocks 😎
@@chrisdelia.7212 This is a scam. There are hundreds of comments across TH-cam with gurus that give signal and help double or triple money in couple weeks. Investing is not a get rich quick scheme.
That what everyone is doing right bow. House market is overpriced and so is it the stock market. Ruining it for everyone who was doing it before all the amateurs
I’ll make sure my parents will retire by given back all the financial support they gave that helped through college I swear it 🙅♂️
Same. If I have to create multiple streams of income to do it I will
@@OS1540 exactly using your parent’s money (if you haven’t get a job yet) to invest in a stock marketing funds dollar by dollar & work in a portfolio to ensure secure & stable investment
You're a lucky person you have a family and they paid for school holy fuck
@@aquaticasmr184 I’m from a different country where parents do some had scholarships but overall the parents helped paid you for the struggles you can get by and enjoy yourself whenever you can possibly for leisure & food, I’ll make sure to make investment so vast, it’s more than enough to hand them back the sacrifice for them & entrust the money when I’m planning to go back to study 2nd degree related to my 1st degree when I’m abroad....
They’d prefer you follow their lead with your kids
One of many plans is to build a self sufficient, off grid home for my retirement. That way I own the land and the home, have minimal costs for utilities, and can continue working into my old age with growing my own food as the hobby.
One way to retire is to save and invest, but another way that people don't think about is lowering your cost of living as well.
I am a minimalist too
Pete me too. I want to buy my tiny place In full so I'll never be in debt and I won't have to work as much
If it's truly off the grid, you wouldn't be the owner of the land, you'll be a squatter.
@@Excalibur2 You can own the land and be off grid.
At least in the States, no one man can own his own land. Imminent Domain clause has it to where at any point or circumstance, Uncle Sam can and will detain, slightly compensate, or slaughter you will no remorse. Best of luck trying to stop the skull drag grind🙏
I bought a duplex to live in one unit and rent out the other. The rent goes a long way to help pay the mortgage, leaving me with more for investments. It will be paid off by retirement age. It will be a nice supplement to my retirement getting rent every month. It helps to be a jack of all trades, doing all the repairs myself. Last year I put a new roof on myself. I did have to buy a lot of pizza for my friends to help 😄, but I saved a ton of money!
Awesome 1119jblack; anyone can retire; must put in the time and effort, and plan ahead. Great work.
Are you Graham Stefan? Just kidding. Seriously, that is awesome.
Please clone yourself.....how can I get that brain of yours in my kid?🤔
@@elizabeths.3634 Well that depends on how it works out for the renter. The renter get a place to live which they are force to pay for because they have no other options.
"When you want to succeed as bad as you want to breathe, then you'll be successful" -Eric Thomas
Facts
Planning for retirement is the key, unless you have very wealthy parents (or grandparents) who will fund it for you. But that is rare. I have met such people. Often, they are aimless and tend to become addicted to drugs.
Because I was born poor in Detroit, I realized that the only way I would retire is to plan for it.
1. Never replace a car until it is at least 12 years old. Take care of it and change the oil every 4 months. It is worth the money and effort if you can do it yourself.
2. Always save money prior to retirement. We no longer save money because we don't have to.
3, Plan on leaving the expensive Democrat run areas as soon as you retire and your house is paid off, which it must be prior to retirement.
4. Avoid fancy stuff. It is not necessary. Buy for quality but unless you use an item at least every 6 weeks, chances are it is unnecessary.
5. Join a health club and exercise regularly. Eat as close to vegetarian as possible.
6. Avoid "sin" drugs like alcohol, drugs and tobacco. They are poisonous.
7. You can probably live quite well on half of what you spend now. This is important for your ability to save money.
8. All the "fancy investing" you do is useless unless you save money to invest. You actually have to save it first.
9. "What you put your money in" and where is less important than just SAVING it to invest.
10. If possible, and you can afford it, purchase rental Real Estate. Some professionals like doctors and dentists try to create fancy risky professional investments that are dangerous because they can lead to Government audits. Rental Real Estate is much less dangerous professionally.
Sanjosemike (no longer in CA)
Im lucky that i was born in Denmark but im even more happy with i found out what job i wanted(Masonry) and the demand for it is high and few people go after that kind of work in Denmark. Also that i found a mentor doing the kind of work i want to so all i need to do is get my school stuff done but lovey video Alux!
Star a business - leverage it with social media - invest in the stock market - invest in real estate. Live.
Exactly. Nailed it. Do it as soon as possible.
@@jayaugustine5480 In process :)
The general public needs to get away from the living from hand to mouth. For the typical person nowadays, everything that isn't bill money is disposable income. And we get can't seem to dispose of it fast enough. I spent way too many years in this trap. I grew up really poor and got used to spending money before some emergency came by to take it away before I could enjoyed what I earned. There are a lot of people out there who, like it or not, agree 100% with me on this.
The bright side is that once you allow yourself to develop a the proper mindset, it's absolutely shocking how little you can get by on. For example, many people complain that they never even go out to eat anymore. What they don't tell you is that they don't consider fast food eating out, so they don't realize their daily habit is literally eating out at least once a day. The number of people out there that spend at least one day's pay a week on "convenience eating" is jaw dropping. You're not saving money by eating lunch from Chipotle every day.
The first and best way to see immediate savings is to learn how to pack a lunch. At work, I can typically make my lunch for the week for less than $20. What's really crazy about that is that I work 12 hour days so I get 2 meal breaks at work. And I normally work 6 days a week. I can make 12 good meals for under $20. Most people going out to lunch can't make $20 last 2 meals. This is insane. If you're in a low wage job where you're taking home less than $500 a week, going to eat with your buddies at work more than once a week or two is too wasteful.
I know far too many people who spend around 20% percent of their income eating out! I guarantee most of you guys who are more or less "starting out" know at least one person like this. Get smart about your food. This is the fastest area to free up money. Even a "foodie" can feed themselves well at home for round $75 a week, or even less. That beats the hell out of grocery shopping and spending $100 a week on food.
People simply have to learn to prioritize again. In the age of instant gratification, we've forgotten the difference between a necessity and a staple. Nobody needs their daily $7 coffee from Starschmucks. And nobody benefits from a fast food lunch every day. Respect your physical and financial health. Pack a lunch instead of a debit card.
#Alux First you're right, I don't see myself ever going to retire. But as you said in your bonus, I don't think I'll ever want to retire. The day and age when everyone is either a farmer or a factory worker is gone. We're living in the day and age where if one want to remain big most likely one will have to become either a business owner or a white-collar worker. As you said at the end we are the generation who not only should make money doing something we like, but pretty much have to, because if one doesn't like doing something then one is going to be bad at doing it when one gets old. And if one are not going to be business owners or white-collar workers then maybe one should avoid living in expensive cities.
Don't look too far, TH-cam is filled with young content creators making a living while doing what they love
I’m looking to do the same. It may not be a massive payout but I have always been a saver above everything.
I'm 51 and retired 3 years ago. The key is that we have to teach our children as early as possible to prepare for early retirement. It's not as difficult as you might think
I understand you're retired at 51 but what if you lived till 90. With inflation going on. How would you support yourself for the next 40 years?
@@10RBREEZY I have residual income from several sources and own a few businesses. My children will also make sure I'm okay if my money ever ran out. But the amount I saved will probably never run out lol
@@10RBREEZY oh and I live in the Philippines as well so we dont have a parasitic government that taxes us to death. That part is important--going to a place your money will go further, if possible
@@mogatdula Thank you for teaching me wisdom.
@@10RBREEZY my pleasure! Good luck!
I love the way that you guys don't pretend that everyone is living in the states!
I agree with the last tip. Personally I don't look at my work as work it's literally my passion. I don think I'll ever retire
Your lucky.
I’m going to retire.
I wish you guys would post the podcast version of the video on the same day 😔
Listen people, it's total crap. The chances of not enjoying a good retirement is not because we can't or don't have the same,similar opportunities as our parents. It's simple math, we (and myself but thank God I realized early on what I was not doing) lack planning. Most were busy partying and wasting the majority of our income year, after year decade after decade. Learn to save, learn to save for the future. Plain and simple. Most people spend more time learning how to maneuver through stupid facebook and have no idea how to maneuver or manager their finances. It's all about priorities.
So in short, having a side hustle aka a business is the name of the game to overcome all these qualities.
Retirement is for people who hate work. Take breaks in between don't rest forever. We can rest forever in the grave. If your health gets bad just work part time or something it will probably improve your health. You will be up and about instead of sitting with your feet in the grave on a couch.
Here’s the solution to this problem. Read the following books:
1) Rich dad, Poor Dad - Robert Kiyosaki
2) The Millionaire Fast lane - MJ deMarco
3) The Side Hustle Bible - James Altucher
Bonus: If you can find it-
laissez-faire’ s Big book of free - laissez-faire Contributors
In future, a retired guy would be the richest man in the city.
A video on 15things to do to retire in this generation ??🌟🌟
Make sure you get the house that you want, the car that you want, and the motorcycle or boat that you want before you have kids
As an millennial baby I think I won't be able to own a house. But my parents have owned since their young age. Who knows what's going to happen next...... With 💖 from India
I pray that everyone that reads this will become successful
Unfortunately our system relies on most people not being successful! Who will serve us our cocktail's?
Thanks for this content... It's really a wake up call...
I appreciate the heads up 👍👍
Thank you for the books referred to. The current affairs are effectively addressed.
Some young people have retired early. Only to find themselves going back to work due to spending all their money.
Thank you! Greetings from 🇲🇽 Mex!
God bless our generation! Lol
Luckily I am from Armenia and I have Canadian citizenship this means that unlike other armenians I have the opportunity to make a lot of money and buy a big house in Armenia for 200 thousand dollars the most which I plan to do. I will spend my 20s in usa and Canada and when it's time to settle down I'll move back home. I recommend everyone who is from foreign country to do this unless you don't want to live there
I thank God for my calculative move. I managed to shake legs for past 15 years & l pray for another 15 years. I took great pains to look in2 my health needs. Marriage? OUT. Love is painful & men are egoist & many are REAL Narsissist. Financial independence is crucial planning from the day l received my 1st pay check. Jesus is Lord. He guided me & protected me all these 70 years. What more to ask, but to be faithful to Him & true to His word.
Um excuse me....NO I want to retire, I'm ready to now at 28.
24 and working on it.
This was a very good analysis. Concise, clear, filled with many nuggets of wisdom. As my parents told me 50 years ago: "Educate yourself, get a good job, exercise, eat good foods, buy a home, save and invest, or you'll be eating cat food when you're old." I feel sorry for the elders who have health or financial problems. mark o. Seattle, age 68, semi-retired, graduated from high school in 1971
Some cat foods are better than what folk in pored countries eat! They say it is a dog’s life but when I see the adverts for pilchards in spicy sauce!!!!!!
very good qualify and relatable content for millennials - stagnant wages, higher cost of living, higher expectations and standards from life
We must bear the consequences of the global pandemic. High levels of debt, dissatisfied societies, widening inequalities, reconstruction of health systems and political reforms needed. This takes time and zeal.
Ps: That’s also a reason why our generations can’t retire that early.
We'll do it..all in for a bright future
DONT LET DREAM DRESM SMALL ESCAPE FORM ODD MESSAGES
That's why I made sure we became debt free, so that we could budget what I can for the retirement accounts and build any assets. In the end, there will be more in the long run than when I started out.
Very informative and we will do what we love
excellent video
I love this song on the background 💞
Covid took my job opportunity after closing the airports. Now I don't get a tax return or a "stimmy". Truly Glorious.
I'd talk to a tax advisor. You don't have to work to get the stimulus check, but you'll probably need to file $0 income to get it as a tax return. Either way, if you miss out then it's your fault for not even trying.
When you consider retirement steps to make and calculate first mortgage payed off before 65 years old credit cards debt payed off and no loans or car payment and no second or third mortgage and then you can retire debt free
I have a plan, I’m going to turn my on/off switch to off
16. Single mothers
Looks like your sort of people physically explode if you don't blurt out "how you're a single mother, and how difficult your life is", every 30 seconds or so. The society isn't responsible for your inability to take right decisions in life.
(I am extremely sorry if you are a widow or something)
Yeah...stay away from them.
Medical care is getting more expensive with each passing year as one is getting older.
I was shamed for being a 47 year old man living in NYC and not having my own house! Not apartment…. House!
Mind you the person who said this to me didn’t know anyone who had their own house (in NY) either 🤷🏿
Go figure
Hi Alux can you please make a video on Bob Proctor? Thank you.
Hay Alux.com business: I am 63 earth years, Retired at 57 years of age. paid home off in 2007.
Yep! I came at the right time into the world. Education drop out of 8th grade. Grew up on farm.
Got a good paying job at 20 year of age. stay single watch how I use my money. Enjoy travel.
If I can do it any one can. I never had a hand written plan just a idea in my head. Thanks for video.
Difference between fist and feast fist meaning Five finger combining to
I’m 21, since the pandemic I haven’t been able to make any money, but since I’ve been currently working on my podcast with a friend of mine and working on my art that’s in the works for an anime/manga book which had been idea since I was like 11 or 12. Hopefully I can find some work and get myself back in school.🙏🏽❤️
Learn to love activities that pay. I never had an interest in math, accounting and finance until I started reading in the area and then compelled to teach it.
The lady's voice is this video is really sweet.
We been living life inside a Young
If "work"is a four letter word, then change your occupation. And retirement is for those who hate what they do for a living. (barring health issues, injuries, disabilities etc...)
Video Ideas: How to make the world better, how to be happy, getting the most out of life, getting more done, afterlife, wealth tips, live longer.
10:27 So what's the role of tecnology and automation?! A modern and intelligent person should work less compared to decades ago. Work is just a mean, NOT the goal.
True, we can work online and earn thousands, 40yrs ago making money online was unimaginable. That's one advantage over boomers
We do work less, for what people had decades ago. If you are satisfied with a small house, a tv and basically nothing else but your clothes you don't really need that high of a salary.
Just get an high teck printer in the basement and make rolls of fake Yuan to pass around for groceries shopping in EU
But alux, I dream and hustle, we millenials dream every day to retire at our 40s or 50s!
YES
If I can follow my passion in my future and make it my job, then I will not retire for the rest of my life
I pray whoever reads and sees this becomes successful....God loves you, always remember that....i lost all due to pandemic..my channel is all i have...
Wealthy Guy
Guy Ritchie
Chanel is also a good perfume
Wish you the best my friend
I subbed wish you all the best my friend
@@mayurrane1125 shut up
I've been self employed and debt free a long time. I shop at thrift stores and drive paid for cars. My rule is if you don't have a savings extras are not an option. Ppl must group together as many people do from other countries and cut the fat. Many ppl are waistful. Groups are best for financial accountability. A Lux should start a biannual investment team. Perhaps have levels based on a critica.
I decided to give my relatives their inheritances seven years ago. That way they don't have to circle my house like buzzards on the wing (or is that vultures?).
Without the added pressure, I've found my retirement years less stressful and much more enjoyable.
I'm not sure if i should feel motivated or depressed?
Retirement will become a Unicorn
Great work
Love that lady(female announcer). “Life is F-up as it is….” GOT THAT RIGHT!
Do you think only Millennials and Zs watch this?
I'm so glad that I'm not living in USA🙏🙌
Why?
Actually, you should be regretting
@@esakkiraj128 lol give me reason 🤣expensive schools + healtcare, stupid riots, a lot of junk food, no culture at all, goverment dosen't care about you when you're broke and finally TRUMP🤣🤣LOL idk
@@esakkiraj128 sure🤣🤣🤣🤣 happy riots btw, and don't foreget to pay ur medicine
@@filipmoric245 Less government is a good thing. The government is the greatest cause of evil around the world.
If I am healthy and in love with my job, why should I retire? I may not want to! Then again, life changes a lot, so I don't know what I will do or want 20 years into the future.
No matter how much you love your job your body is still going to age and degrade.
We never retire. Even when jobless, there are things to do.
every gen - z - er MUST watch this video. this information is very much needed to be spread out. thank you alux. this was truly needed.
Even before watching this full video. Nobody wants to retire if they aren't getting older and if they can prolong their youth.
Why Alux has not mentioned about Annuity ? . I see it as a far better option than relying upon any government pension fund. Specifically a book mentioned by Alux in one of its videos, named, Money master the game explains in detail about Annuity.
I am waiting for next video.
People need to figure out how to make money without a job because they will be discarded by employers.
The rich people already built the system to keep their employees poor until they die.
Loser mentality. No one is keeping you down. Work hard. Save early. Be smart with your money. You can be successful.
@@GrnXnham actually they are, I know this channel is all about making it big, and f the 9 to 5, no victim mentality, motivation and all that, but maybe after 6 months or so when you mature a bit and come out of this bubble you'll see that yeah system is set up for buttf*king you throughout your entire career, unless you are in a country with fair wage systems and laws you'll be paid a wage way below what you deserve, that's just one example there are thousands of others. Have you ever seen a wealth inequality graph, there are websites that have those for all countries just look up. There is also an excellent documentary series by DW on wealth inequality in Germany, you should look that up too. I am a data scientist working in economics research so I know how odds are entirely stacked against an average person. I could have thrown a whole bunch of economic jargon and numbers but they wouldn't make much sense to a normal guy, so I highly suggest checking out that documentary.
I'll advice everyone to invest in stuffs like penny stocks and cryptos. It can generate short term profits for you. This ain't stopping anytime soon, just the beginning of the great recession
Bitcoin trading is much different from just saving your coins in your wallet. It involves trading bitcoin under forex
Lost 7600$ on a live trade what should I do?
You stop trading if you keep losing
But with the help of a professional and reliable broker you make alot of profits
How does this whole bitcoin thing work, I'm interested in it and I'm willing and ready to invest heavily in it but I'm gonna need an assistant from any trusted and productive professional
I think bigger families and the family business is the way to go.
A big part of gem X got fucked out of a good retirement as well
We do in person and Zoom
My goal is to retire when I am 40
I am bless that I stayed in the military for a long time before I did retired. And I am again bless that I am subcontractor which give me passive income. Prayer to our God Almighty will help each one of us to go through hard ship in life. Like Jesus Christ said lay your burden to me for my yolk is easy.
I've had no plan of retiring as long as i am loving what i am doing
seriously, I DON'T WANT TO RETIRE ,
Nursing care has been destroyed.
Forget that, build wealth through brute force, taking full advantage of the tax incentives to do so...in fact go far beyond full advantage and leave them a weeping, sticky mess on the floor each and every tax season.
Raisining retirement age yooooooh real.
Baby boomers don't know how lucky they were. They grew up in what was considered the most prosperous and financially stable time in American history. Back then ONE job could buy a house and support a family. Almost any job back then could get you success. Yes EVEN a minimum wage or part time jobs could support you. You could buy LAND with those kind of jobs. Almost any job offered healthcare, retirement plans, benefits, and livable wages. Jobs didn't require degrees or years of experience. Even collages and rental homes were much infinitely more affordable. Now just look at the economy now.
In the recent years life expectancy has been going down due to process junk food