Once You Save $1000, Do THESE 5 Things NOW
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0:00 Intro
0:14 Do this 1st With Your $1000
1:14 Do this 2nd With Your $1000
3:01 Do this 3rd With Your $1000
5:13 Do this 4th With Your $1000
6:49 Do this 5th With Your $1000
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Some legal stuff or whateva
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.
Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.
6:02 "There is no one who knows your potential better than you do." Love that!
1k is not nearly enough for an emergency fund these days. I have always heard to have 1-3 months saved up, but I strongly recommend 6+ months worth saved up. Especially after covid had hit. Most unexpected events these days will wipe out 1k.
For a lot of people $1,000 is a lot of money. I dont even have 900.
Be careful. You need more than 1k in savings. Recently my emergency fund was wiped. A house repair turned out to cost over 10k. If i didnt have more than 1k emergency fund...i would be 11k in debt
One thing I've learned along the way is the power of diversification. Once you've got that emergency fund locked in, consider spreading your savings across different investment vehicles. Whether it's stocks, bonds, real estate, or even starting a side hustle, diversifying your portfolio can help safeguard your finances against market fluctuations and accelerate your wealth-building journey. Great video!
Great motivational video. You definitely mastered content creation.
However, it was not the advice I was looking for “after getting $1000”. More like these are tips you should be doing (or at least start to) to get that $$$
"Invest in your network."
And that's why I'm totally screwed.
I still believe "borrowing" napkins from fast food places is a smart habit 🤓
Thanks for the video.
haha love it! what did you think of the video?
Don’t forget the sauce from Taco Bell, lol.
Great video production as always VIncent! I'm seeking out number 3 currently. Do you have a course or offer mentorship on growing/improving a TH-cam Channel?
Your subscribers are getting larger, all the time! Congrats! Your content is very well done!
Time and time again, I'm so captivated by your videos Vincent! This one is my new favorite! Job well done!
Other than my managed account, I have my own "play" account. I've recently started buying a few high yield REITs including those with grocery store based strip malls and high end retail.
Building my network is something I really need to focus on. Thanks for the reminder!
So true! You can only do so much by yourself you need connections to make things happen
How do you feel about CDs? Also, for the financially challenged.. do you consider Barron's and other money market subscriptions to be helpful?
Interested in the CD question!
it really depends on what your goal is with the CD. Do you mind sharing more details about it?
@VincentChan Sure.. its a 13 Month term with an APY of 3.75%. My goal was just to put the money in an interest bearing account for lack of a better idea of what to do with it.
@@middlesys9180 instead of doing a CD with an APY of 3.75 you should just sign up for a High-Yield Savings account. I have one through SoFi and Credit Karma and they both offer somewhere from 4% to 4.5% APY that is paid out monthly.
CDs are great investments if you’re worried about jumping into stocks. I love laddering for CDs since the longer you have them the higher interest you get. Laddering is when you open up multiple CDs with different maturities so instead of doing $1000 for about 3% in one year you can put 200 and 3% in one year, 200 at 4% in two years etc. you can even spread it over months but the idea is you gain more every year and still see a tangible return so after the first year that now $206 can be reinvested at the top of the ladder and you’ll still be on track to see a return in one year that would now be the second CD at $216
That selfie tip is really good
haha thanks! I find it super useful
You can do this with others in your life. Mechanic, plumber, electrician, dr. Why would this be important. Relationships get you more than being a stranger.
My son grocery shops and tries to get good deals. He is always nice to the cashiers. Yesterday, the cash asked, You really like to shop the deals?” He said, “Yes, it’s the only way to shop.” She smiled and said, “That free paper over there has a $10 off coupon.” He walked 5ft, picked it up and got $10 off. Relationships save money. My mechanic frequently gave me 15-20% off for cash payments. He knew I couldn’t always do it but frequently it was a big help.
Great video 📹 👍
Save 1000 for emergency...
Thank you for sharing your knowledge! I’m not sure if you already created a video but I was wondering if you could explain investment for beginners. There are many videos here but I trust and love how you explain things.
FIRE ! Tell me more
I liked the video. It really shows your integrity, discipline, and diligence. Wow. You developed these when you were so young. 😊
GREAT video: Excellent advice. Great on-point (non-frivolous) visuals from movies. You nailed it.
thanks so much! What did you like the most about the video btw? :)
@@VincentChan I liked the analogy with building a house with a strong foundation really made your points. The 2 things that made the biggest impact in my career: the value of networking and the power of putting money in the general market (investing) vs individual stocks (gambling). BTW, I still run into people who don't know about or understand the value of ROTH IRAs.
Great Video
thanks so much! What did you like the most about the video btw? :)
You going on bing for information really show your dedication to your craft! 🤣
I really appreciated the practical tips and advice you shared. It's always great to have actionable steps to take when it comes to managing money.
thanks so much! What did you think of the video btw :)
I’m the new comment over the pathetic one under me brother u don’t speak nonsense u are helping a lot of people thank u
Agreed, not everyone lucky enough born with some "opportunities". For me personally, my language. that will be a main challenge to really get notice when networking. also just in general I am not a talker. what i have in my mind, come out different and weird from my mouth. 🤣🤣
All this stuff was money, all this money was time
Yes many youtubers have this hype feeling they are going to do their values making money but facing the wall of incapacity of having the capital to start and also not getting the social network help, connectivity with people (network of people support) to suceed
How will AI effect 3-5?
8:21 for stock tickers.
What's the name of that of that investment that you said ?
which one?
Great tips!
What does RIRA stand for?
i break it down in the last section :)
@@VincentChan I looked at the final section and the one before multiple times before asking my original comment 😣 I must have missed it somehow
Same, I watched the last section multiple times and didn't see where he explains RIRA, just see that he advocates for a Roth
Rira is Roth IRA
Is it true that you don't have to pay taxes over the money made by investing into the stock market? I am from Europe and I think that in here we have to... anybody who knows better? tnx for the great vid!!
If you live in the UK, you can get a Stocks & Shares ISA. With it, you can invest £20,000/year tax free
Oh my gosh 1000$ wooo lets go spend it all on a crashing market.
Why do you have data analysis as a high income skill? Do data analysts make that much?
you need to be able to analyze data in anything you do :)
5.5 ways video says to plug yourself without making it seem that way. Good job dude. You did it in the last 10 seconds of this video.
You did not just ripped a real dollar bill!! 🤯
this is one thing that i have to hear.
thanks so much! What did you like the most about the video btw? :)
If I invest $1,000, and I get 10% per year, that's $100 per year, and in 10 years, that's $1,000 (ONLY!)??
Nope - its $2594. You are forgetting about compound interest
@@bronstanton9398 Are you sure?
@@bronstanton9398 What's the mathematical equation of "compound interest?" How did you arrive at the answer? I want to see an equation.
You sold us a Newsletter, a youtube video and ....
I just got my first job and is this useful to me? I don’t have an emergency savings.
It’s 9 month later, do you have that emergency fund yet? 😊
@@kenyonbissett3512 Partially! I only don't have all of it yet because I had to use part of it to a deposit since I got into university (: But I'd have two-thirds of it by now if it wasn't for that emergency deposit. Though at first since I had to say a lot of "no's" to outings (I'd still go, just wouldn't pay for necessary things like drinks. I don't drink lol) and hold back on buying things that I felt like I could just buy it later.
You spread your videos out like a madman. Lots of noise to signal.
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
It is possible to produce superior performance provided you do something different from the majority. However, most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.
Having monitored my portfolio performance which has made a jaw dropping $470k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.......
Interesting. I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?!!!!!!
Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently..........
Hello Do you trade on your own?
Help pls
La culture du vide..il a brassé du vent pendant 10 minutes pour donner des "conseils" que tout le monde connait..
Just empty words
Depends on who you are and your goals.
Yes you did just say empty words
if you can’t take anything from this then you have the wrong mindset bro
Did this MF actually just rip up $100? 😢
Invest in crypto 😅
Is rira. Roth ira