Why Americans Don’t Want to Be Millionaires
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- เผยแพร่เมื่อ 1 ต.ค. 2024
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Would you rather sacrifice your lifestyle to become a millionaire ASAP or enjoy a comfortable life now? In this episode, learn why setting yourself up for success financially can lead to both.
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Hit 100k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024
Wow that's huge, how do you make that
much monthly.
that's nice you makes you that much!! please is there a way to reach her services, I work 2 jobs and trying to pay off my debts for a while now!! Please help me.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. michelle sule is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Sincerely speaking. I will continue to trade and stick to michelle daily signals and guides as long as it works well for me 8,000 weekly...
.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser michelle sule , for her expertise and exposure to different areas of the market.
The right choice of an investment has always been a big problem for me I know picking a wrong investment will leave a big scar in the future
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
Our net worth is not who we are. But there is something to say about a person who has shown discipline, focus and the drive to get to where they want to be. To do things that are not easy and to put yourself through challenges that others are avoiding out of comfort and convenience is infact a demonstration of character. The dollar amount does not matter. But the journey is very telling.
I retired a year ago, now age 66. I have zero debt, paid-off house. $100K in cash & liquid investments. My wants / needs are quite modest. I am greatly blessed.
and social security that would be equivalent of probably $750,000 portfolio spitting out dividends.
do you have any other pension / retirement plans?
So counting all that, including your home, you are well over $1,000,000 equivalent.
@@mjs28s Just perking along, savoring life!
Being happy and having few worries is of the utmost importance as you age.
Stress and worry (besides poor diet) can lead to poor health as we age.
People don’t need as much as they think in retirement. The issue with most: they unfortunately spend too much on junk and continue to have debt.
May you live for many more years, remain safe and healthy.
@@XYtotheZ Thanks!
compound interest : Get some ,Kids ! DO it Early
I think I'd be a lot more comfortable if I were a millionaire.
There has to be a middle ground
"I don't want to be a millionaire." - said no American, ever!
I enjoy watching people say this while complaining and struggling to live
The number is 10 million.
Then you want $12 M, after that you want $20 M , then one day, you visit California Bay Area looking at Los Altos hill, pebble beach you are staring at those $30M house and you will want one of them. It’s an endless circle, loop
@bulldogfightingforfreedom Not for me and my number is $20 million to retire. Based on my current income I extrapolated my income at 67 to be $800,000 (about $150,000 in 2024 dollars) and I need 25x that to retire. If I hit $20 million (or if I'm overshooting my yearly targets), I stop caring. I stop saving. I wear Gucci loafers and visit Florence every year. I wouldn't stop working but my life would get a lot easier.
Great advice. A life not lived is squandered and you won't be happy. You can build wealth and be happy at the same time!
You know what though, you don't need wealth to be happy.
Build the life that you want!
Net worth vs Self worth
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
You can actually be comfortable after meeting millionaire status.
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
My best recollection is I was sitting at around $400 at 40. Life is not linear of course. But that simple comparison suggests you are doing just fine. (I am mid-60's now, and am one of those people that "Americans don't want to be" apparently.) Can't offer specific suggestions, but just know you have several things working in your favor: 1.) time...time to recover from a downturn (or 2), or build on gains. 2.) My experience: investment portfolio began to grow in chunks beginning around $500. Best wishes.
Usually, you don't even know when you had reached $1 million (I know that seems odd ) but someday you will be looking at the newspaper see the 52 week S&P high in realize at that time you were at 1 million. 😊
Becoming a dollar millionaire is the goal of many in a small country like Croatia too, that has completely integrated into the Western world through NATO, the EU, the Euro and Schengen. Croatia is an open market and capitalist society, the result is dollar millionaires are increasing in number every year. Capitalism has won!
$2.5M is the goal.
My goal as well. ❤
@@thehousingvlog7034 4% withdrawal rate would be $100K 😀
Out of range for most of us
@@patrickgoss4729 Not for young people who know about investing.
Pink is your color. Nice outfit.
Rachel is beautiful.
Very, and natural beauty - inside and out.
? She's got those ant size eyes
Rachel, we are on baby step 5 and I am overwhelmed by all the different 529s for every state. Which one do you use? Would it be best for someone from, say, Washington state? How do we even go about opening one for our kids?
You can live comfortably while saving. You need to find a balance. It is hard not to spend when you see everybody on social media enjoying their money. Try not to pa6 too much attention to it and do what makes you happy.
You know who doesn't want to be a millionaire? Billionaires.
$5 million is the retirement goal.
Wait, so you're saying that chasing after a million could make us miserable? Mind blown! 🤯
So true!
Dave’s 15% saving rule is fine, 20-25% to get rich in a decade or two
Great video Rachel
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
NICOLE ANASTASIA PLUMLEE' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this amazing tip. I just looked the name up and wrote her.
Great video!
first
I want to watch this video but the wrinkled/crooked shirt is sooooo distracting.
OMG, I was just about the comment about that. The asymmetry with the stretched collar and the sleeves being off center were triggering to me.