Cost of Living Crisis: Why Paycheck to Paycheck Is the New Normal
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Cost of Living Crisis: Why Paycheck to Paycheck Is the New Normal
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DISCLOSURE: I am not a financial advisor. I am sharing my personal opinion on all topics discussed in my videos. Please seek professional advice when needed.
JJ Buckner
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You have some fantastic content on your channel. At 53 years old, my partner and I achieved a net worth of $1 million back in 2017. Fast forward five years, and it has grown to $2.4 million. Despite our combined annual salary of just over $100,000, we have adopted a frugal lifestyle. We continue to drive older cars, prepare meals at home, and make use of leftovers. Additionally, we have two children currently in college. Fortunately, we had saved for their college expenses, and they are contributing by working part-time. As a result, they will graduate without any student debt.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable trades can only be carried out by real-time experts.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That's impressive ! I could really use the expertise of these advisors.
Sharon Ann Meny, is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
You know its bad when people with no kids and single are struggling
I don't have kids and single. Not struggling at all. By the grace of God.
I save 15%
@JasperVilla-s1d i save 60
I don’t have any kids and I’m barely making it just barely
we get hit the hardest on taxes to subsidize everyones bad decisions and by everyone im including government in that
Only reason some of us are doing okay is: no debt, no kids, and single
Nailed it im all of the above and barely making it
And living in the family house so I can save the money I'd otherwise be spending on rent. You have to band together or have a really high income to make it.
@@duketogo2616 yeah no joke.
I lived in a tiny camper and worked my ass off for years especially after my business failed and EOY this year hopefully I'll finally have a better situation. FINALLY
Same. 44 and all of the above.
@duketogo2616 my family made a family compound on 2.5 acres. We all have our own little house on a circular drive.
The wage gap in America is growing wider and wider, meaning no matter how hard you work a job, it's not enough to keep up even before inflation. more and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.
If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
Annette Christine Conte is the licensed advisor I use. Just google the name and you'd find basic info. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
I make $30/hour and it feels no different from when I made $15/hour back in 2017 since the cost of everything has increased. However, part of it is that I have a lot of debt that I am continuing to tackle in 2025. If I didnt have this debt, I would be in a better place to save and invest for my future.
Good luck. You’ll need 60per hour in the future.
Everyone is in debt. I’m in debt too. I’m also trying to get rid of it but… it’s really hard in these times.
$15 in 2017 is the equivalent to $19.49 today. You're effectively earning 54% more.
This is the main reason people are struggling, people have poor spending choices, Im raising a kid with my wife on a single income, bought a boat a couple cars, etc in St Louis sooo
True and we all have debt the inflation is sucking ppl dry 😫💀
As a costco employee i have to say its 50% EBT cards and 40% credit cards and the rest cash thats why our busiest weeks are the first two weeks of a month
Good to know! I hate crowds lol
Glad you said this, every time I’ve tried to go it’s slammed. I’ll try the last week of the month.
They accept EBT at Costco now? Damn. They want every dollar. How is someone on EBT affording to pay for a membership?
@@jbar_85 the member ship is 70$. Like- is just 6 hours of work like- is cheap AF
@jbar_85 prob paid by the government. I know they will pay for memberships now for people. I couldn't even get foodstamps when I lost my job and apartment. Lmao love paying into systems that I can't use.
My sister was making 13.50 in 2019 and makes 21.00 now. She is now more poor than she was in 2019
I believe it...
I'm making 24 and some change but the only way I've been able to make it is the fact that I've never read tried to upgrade my lifestyle since high school aside from getting a vehicle and I seldom leave the house since I work from home. If I did move out I'd just be living check to check barely scraping by and getting nowhere so no reason to even try to live on my own. when I can just save the difference and stay put.
I make 26.35 and paycheck to paycheck.
Where do you guys live?
@@Madn3ssMan Vegas
I'm planning to retire at 59 in another country outside the US that is free, safe and very cheap with a high quality of life and good healthcare. I could fully just rely on only my SS if I wanted to when that times arrives but l'll also have at least one pension, a 403 (b) and a very prolific Investment account with my Stephanie Stiefel my FA. Retiring comfortably in the US these days is almost impossible
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes
What about you??
Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
My sister lives in Aussie. They have good healthcare better than America. I am also moving there after I retire.
Please let’s stop gentrifying countries
Let’s do a no spend 2025 everyone. Just spend on basic necessities, you don’t need a candy bar
What fun!
Yes!
I'm with you on that. I'm doing no spending 2025 to pay off my farmhouse by the end of the year.
Good luck with that. You basically just highlighted a major part of the problem. Most people complaining about COL don't live within their means. I know people who make less than me walking around with the latest "this and that." I have no pity for them when they come asking to borrow money.
@@slylockfox85 Very true Slylockfox85... A lot of people just let life float by on auto pilot... They reach out to the world for solutions... We need to remember to reach within... ❤
I (M43) tipped the car wash attendant $20 last week and he treated me like a god for those next 5 mins. Everyone needs a boost. That was my feel-good splurge for the week, and I spent it on a hard worker.
Reminds me of a Donovan song about the lost continent.
I'll be glad to have a car again to take to the wash. I used to love detailing my own car. It got repossessed last year.
I grew up in a 5-person household with a single income with my dad making about 15 an hour, and we were pretty well off. Now, I have a family of 5, and my husband makes about 35 an hour, and we had to move over an hour away from where we grew up because we couldn't afford to rent ANYWHERE. We pay about 1,600 rent, not counting utilities.
It's crazy.
Bro yall remember when the small bag of chips use to be 4 for $1? They slowly turn to 2 for $1. NOW they are 1 for $1!! wtf!!! Cookout treys use to be 5.99!! Now it’s $8.99!!!!
Insane times we are living in. That Costco hotdog hasn't failed us yet tho lol. Still $1.50
@@jjbuckner only because it's a loss leader, though
Q
YES! I used to get those 4 for $1 at Walmart!!!
I just went to Trader Joe's and ALDI to try and save $, and rounded it out with Dollar Tree. Ummm. I am between $100 to $200 for basic simple food. And I'm like...wtf...I am frivolous.
But now, reassessing....I KNOW I was frugal.
Q
I remember. $1 would get 2 bags of chips, cookies, and a quarter water easy back in the 90s
The prices stop me from eating a lot of junk food these days tho. I scoff everytime I pass 2 for $10 bags of Doritos or 2 for $8 Oreos at Target... bad enough the price is up but to charge more for smaller packages is double the insult
@@jjbucknerLol. Yup! I’m always at Costco for lunch.
It's crazy to think that my family of four was actually better off when I was making $15 an hour compared to my current job, which I got after earning my degree. Back then, we received $950 in SNAP benefits, free health insurance with no deductible, and other assistance. It's no surprise that many single parents or families like ours don't seek better-paying or more fulfilling jobs. The government incentives actually discourage us from pursuing higher-paying careers because the support disappears as soon as we earn more.
More dependant you are on them now, more they will take later.
This 💯💯💯
@@chaywinston8115how so? Can you explain this?
What degree did you get?
@@ramona8136degrees are played out and overrated
I just went to subway sandwich and a drink was 12 bucks, I miss the 5 dollar footlong
insane
good times
It's $13-14 for a foot long & meal deal.
Technically it was a $5 dollar 10-inch
$5.. $5 foot loooong 🎶
When I visit grocery stores in my area, I don't really see people shopping with grocery carts full of food. Before the pandemic, I would see people pulling two carts, full of food. Not anymore.
Spend money on essentials no more dumb purchases for stuff that we don’t really need.
Already doing that and still in debt and poverty and homeless. Try again.
@EmilyGloeggler7984 Please stop filling your brain with these doom and gloom videos. Clearly they aren't helping you.
I'm sorry you're in a crap situation, but you're also lashing out at everyone that is trying to help. That's not the way to get better.
Please have a better day today.
I was doing that for 4 years. I couldn't save more than $200/mo. Lmao
Ended up moving back in with my parents and I can actually save money now.
I can't imagine how depressed I'd be if I couldn't fall back on them for a roof over my head. I'd probably crash out, refuse to pay debts or taxes and leave with a stack of cash to a third world country lol
@@GeeMannn Good for you. Hopefully you're saving as much as you can now and are paying of debst. Start investing too as soon as you can, either in stocks (index funds), and possibly in the future in real estate.
I don’t shop at Costco every week. Now it’s once a month. And I don’t buy it for convenience, I only buy if I really need it.
I was working next to a hardware store.. Had a craving for chocolate.
I walked thru checkout isle in hardware.
Hersey bar not the big size was almost $3.
Said nope, I don't want it that bad.
The stuff makes my teeth hurt now days. Just ain't the same.
I just lost my health insurance. So because I will have to now pay $275 a month for health insurance and my monthly budget is already tight I won’t be able to buy groceries.
I’m 61 single, debt free but I live 75 miles round trip from the closest town. I’m already working hard and rely on my 3 rentals and seasonal antique shop and cashier 2 days a week at Winco. I’m going to have to raise my tenants rent and possibly use a food bank🤦🏻♀🤦🏻♀
I don’t see it getting any better!!
I’m in Canada and things are going up here and everyone complains. But every time I drive by a casino, a fancy restaurant, or an expensive store like Sephora, it’s packed!!
I think people are just used to quick gratification and too much social media enticing them to spend. They often do it to themselves
And yes I agree. The more we feed the millionaires and billionaires out there, the more we fuel the fire
Recipe for disaster...
It's doom spending as well. People have it in their heads that it does no good to fight the system so they just give in. Don't do it! Change your behaviors and do everything you can to fight back!
@@madscientist3665You have much to learn, kid.
@EmilyGloeggler7984 at 33, I have no bad debt, own my home, actively contribute to my 401k at a rate of 15%, and I'm planning to build my forever home in 3 years. I think I've learned enough.
Its coping. People spend too much time on social media seeing everything they don't have, then turn around and get in debt to make themselves feel better...
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 20% 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 20% 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. Individuals can seek counsel from a certified financial advisor to optimise financial outcomes, who can provide specialised advice and methods to decrease expenses and maximise income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
What I don’t understand is why some well-off individuals blame the federal government as if it’s solely responsible for the high cost of living. Inflation isn’t driven only by how much money the government is printing. Simply limiting the money supply doesn’t automatically lower prices; in fact, it can have the opposite effect because we live in a profit-driven economy.
Take housing, for example-could rent become cheaper? Sure, but landlords need to turn a profit. The insurance companies they work with need to make a profit. Maintenance crews need to make a profit. And beyond that, these entities must generate profits for their investors. The system demands that companies consistently outdo their previous earnings. If a business profits $1 billion this year, there’s a fiduciary expectation to make $1.3 billion next year, then $1.6 billion the year after that.
How do they achieve those increases? There are only a few options: they can grow their customer base (but that eventually maxes out), cut costs (which often means layoffs), or raise prices. Guess which option is the easiest and most common?
All of this to say, the rising cost of living and inflation can’t just be pinned on the government. There’s a broader, profit-driven system at work here.
The government pushed the car down the hill, now you're watching it roll and saying "well I don't see the government driving it." Who was it that made sure our currency is now backed by nothing
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.,
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 l'm lucky to have seen someone like Jihan Wu.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
I'm favoured, 90K every week! I can now give to the locals in my communities and also support God's work and the church. God bless America,, thank you Jihan Wu😊🎉
Waking up every tenth of each month to £210,000 it’s a blessing to I and my family… Big gratitude to this same Jihan Wu🙌
Please how can I get in touch with this coach Jihan Wu ? I really need to give him a try
Even people with no kids are struggling so yeah it is that bad. A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. But how can one take advantage of compound interest and potentially grow my monthly income over time?
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by experts.
There are a lot of ways to achieve your goals especially in stocks but such strategies can only be carried out by market experts. Who has studied the markets for years not a random TH-camr.
Could you recommend some good advisers? don’t get me wrong, I already have one i speak with but he seems not to know much.
Lauren Christine Campbell is the CFA I work with and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.
I’m not rich. But we have zero dollars credit card balance. If we can’t afford it. We don’t buy it.
I'm single, but I have custody of my two boys. I make $41 per hour, amd get a ton of overtime each week. My only debt is my student loans, under $15k remaining now. I STILL cannot afford a house here in Oregon.
Stop sending money to different countries.
If the US ended all foreign aid, you probably wouldn't even notice it. At any rate, the gov't wouldn't give you any of that money.
@ozzierabbit587 🤷🏾♂️
Well a lot of that money is debt.
I make about $22/hr takehome, and the only reason why I'm okay is because I worked hard to get my car paid off 3 years early, am single, no kids or pets, and prioritize saving/investing over lifestyle inflation. Even then, my landlord is trying to raise my rent $230/month, which would still manage to screw me over.
For the lucky ones who already have a house and are debt free, it's probably not that bad. For those of us who don't have a house, we are priced out of the market. Salaries dont keep up with inflation, and even engineers are paid horribly and are being replaced with foreign workers. The cheapest on-sale pork is more expensive today than ground beef was just a few years ago. Food prices are out of control.
My mom has stage 4 cervical cancer. When she first got diagnosed she was state two and her insurance dropped her after 15+ years. It took her 5 months to find new insurance. After a two year battle and 200k of debt she’s calling it quits. Insurance did cover over 600k in medical bills but it’s not close to enough.
This just pisses me off. I hate to hear this.
That’s how Luigi’s are created.
Please look up dr John Campbell’s video titled worm meds.
My mom has Stage 3 breast cancer, Lupus, Diabetes, Colitis and also dealing with a Cellulitus infection in her leg for over 1 year now that she can't get rid of due to her immune system being down. They won't do surgery on her breast cancer until the cellulitis infection is gone...Worried the surgery won't happen. Also, I have seen a lot of videos of people claiming Ivermectin and Fenbendazole cured them of cancer. If no other options...trying to obtain these de wormer drugs and trying them out might be worth trying if the other option is death.
@@teehhcsee6833 you will be in my prayers tonight.
i made $7.25 in 2013 and i feel more broke now making $17 than i did making $7 .
So true that inflation is caused by government printing too much money, thank you for saying it.
You're right. We need interest rates above 15 percent to stop inflation. What a good point you make.
No it’s not. The corporations raised prices because they could not because they had too. Also those big corporations own the government so they actually printed the money and then they sucked it all up by raising prices.
The government doesn't print anything......they sell Treasury bills....
And spend........that is the problem, everybody thinks the government is the help we can't live without, but really the government is the problem.
All of the problem.
A corporate entity owns and prints our currency. The Federal reserve is a privately owned bank.
Who ever thought that was a good idea was making money from it
@@claybob Wrong. Too many dollars chasing the same goods & services.
That is part of it.
If minimum wage was $100.00 per hour those working for minimum wage would still be the struggling poor.
As a professional shopper, people need to learn how to shop where to shop buy things on sales stock up. Don't spend $7 on deli meat I bought pork shoulder 95 cents a pound 10 lb piece of meat cooked it came up with 18 portions of pulled pork for 18 dinners. Your freezer is your best friend
Exactly! People don't know how to shop.
@@chegadornalso don't want to cook. Or learn to cook.
It’s a two way street. Things might be getting expensive but people continue to consume and pay into lavish things, name brand items etc. people’s expectations on what they need to survive is skewed. There needs to be a cultural shift in America - cheaper anything won’t fix it.
Ridiculous take, the non name brand items have had their price raised too, I’m not denying that there is a culture of overspending but the root problem still exists and has been growing for both name brand and non name brand items. Nowadays you will find more people willing to switch to no name brands to save money then not but it still does not help because all prices are rising fast and continuing too
I think you are out of touch a tad bit. Many people are struggling to survive even getting the cheapest products needed to do so. Everything has gotten more expensive
@@Bankaimgwe've had record Christmas spending record Amazon spending record BRAND NEW car purchases record Uber eats door dash ect ect she's spot on
My dad has two Bentleys and he’s asking me for money…
I love my father but…I don’t even have a car…he also has boats
He’s retired…and asking me for money…he has two Bentleys…two… and he’s asking me for money…
I make 12 bucks an hour lol
I don’t even eat out…I buy used Nike clothing on eBay lol…I just make smart choices instead of buying depreciating assets non stop that do absolutely nothing…a Bentley does absolutely nothing besides massage seats leather seats navigation the same things cars been had for centuries…
Sucks that we view depreciating assets as a status symbol but I mean we view cars as an assets even though they go down in value…never heard anyone say a Bentley made them rich but whatever
@Bankaimg like what? I keep hearing that but I see people blowing money on silly stuff all the time.
“No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.”
- Franklin D. Roosevelt
Minimum wage was intended to be livable
The real minimum wage is zero......not having a job because the business owner can't afford to pay someone what some jackass that doesn't run the business thinks he should, get a life you communist!
Intentions do not mean they actually benefit us in the long run. Federal minimum wage has significantly negative effects when raised.
Almost all states have higher than min wages already, which drives up cost of living in those states.
@@basilman121then they need to lower inflation so those who make minimum wage have a chance to actually survive
@@basilman121the “negative effects” happen whether minimum wage is increased or not.
@@Bankaimg inflation has been lowered to normal levels recently
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot Elizabeth Jacob! Imagine i invested $20,000 and received $80,500 after 14 days
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 Elizabeth Jacob.
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
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
12:35 I had the same thought the other day at Walmart after paying $470 for food for 2 people. Now that will last about 2.5 weeks, but how long before people are getting robbed in the parking lot for their food, just like people stealing Amazon packages from the front door. Doesn't matter what it is, people will still take it.
Speak ye NOT, 'lest it happen.
I live in a very high cost of living area and spend 100 a week for groceries for two people. Don't buy snacks or processed food.
I own nothing, I eat the bugs, and I live in a pod…. When does the happiness set in?? 😭
bugs?..
Bug protein is the new push from the overlords@@jjbuckner
Klaus schwab- WEF Founder
😂🤣🫡
@@jjbucknerEducate yourself, Buttercup and quit drinking the Ramsey/Poor people are screwed Koolaid.
The money that's being printed, it's going straight to the top.It's not in the middle class. The one percent needs to be deflated.
Only when the tide goes out do you discover who's been swimming naked- Warren Buffett
Hello from a fellow Missourian! This last week's ice and snow storms have kept us home (without electricity) and we haven't spent much money at all!
I just put fuel on the way to work in Australia, it was $95 for a full tank and I drive a 2020 Toyota Corolla
Daang. That is bad
Yikes. It's about 50-60 in San diego, ca
Luckily, in the US we get petrol in gallons. I just filled up for $2.75 USD/gallon and it was under $30. I have a subaru impreza.
Almost a $100? WOW!
That’s crazy 🤦🏾♂️
12 eggs weigh about 2 lbs. If the national average cost of eggs now is $4.50, then a dozen eggs are $2.25 a pound. That's more expensive than chicken. Eat chicken instead. Eggs are fancy food now.
$7 in my area for dozen eggs, jar of Miracle Whip $8. Were not happy to pay it. I REFUSE TO PAY THESE PRICES I DONT USE A CREDIT CARD.
Idk what yall are talking about, I just bought 5 dozen(60) eggs from Costco for 12.99
Knowing your prices and where to shop is necessary!
I just checked my vending machine at work...its $2.50 for a Snickers bar loll
I get one on occasion. But not often.
😂 I remember they were 45 cents at the time
Nasty work
Every single piece of candy, m&m, mars bars, lemon drops, gummy products it's all the candy are over $3.00 per candy item.
I was SHOCKED. Didn't get any, couldn't afford it.
Those things make BANK 😭😭😭
What is crazy, is a Large hot Chai at Starbucks is like $6 in usa + tax,,,, AND the gal who spent 30 seconds making your drink wants a Tip. Insane
I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
You're right, I and a few Neighbours in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 37% in the last quarter
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I've stuck with the popularly ‘’Zareen Grace Church” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
I work for a Fortune 500 company/ bank and I understand the cost of living is high but I also know that the ppl are living outside of there means. I assist with credit cards and members will literally max out there cards then turn around and ask for our company to help them pay it off. I also learned that a lot of ppl don’t even understand credit how it works and interest let alone read their credit card agreement. After watching your videos and dealing with this every day helped double down and learn. I’m 32 years old and my eyes have been opened to much and I’m on the road to becoming debt free! I no longer want to be a slave to the lender and idolize/leaning on credit cards smh but the US is in debt because they don’t see a problem with it smh which has been the US biggest downfall
@@szedrielxo967 I'm rooting for you!
People spend money they dont have when they are stressed and need an outlet. In better economic times people actually spend less on useless stuff. When you only have 2$ you get what brings you more joy which is candy
I don’t hate many things or even like the word hate but I tell you I HATE HATE I tell you INTEREST, I try not to pay interest on anything besides the small mtg loan for a rental I have that I’m trying to put everything towards to pay off ASAP, I hate hate interest, it’s like literally throwing money out your car window or burning your money in a trash can, I tell my young niece that, if your putting 20$ in gas on your CC and don’t pay at the end of the cycle your paying almost double for that gas, anyway try not to have a balance, INTEREST IS THE Absolute WORST THING EVER 😠😤🤬😡
You have much still to learn as evidenced by your comments. Not everyone is earning the money you do and not financially able to do as you do. Think on that, next time before you shoot your mouth off.
Your beautiful no disrespect ❤
I took control of my expenses by becoming vegan ( health reasons), eat at home , cut way back on eating out and gave up gym membership ( found public parks that have circuit training equipment and run for cardio. Results- savings 💰
I’ve been vegetarian for 15 years. I walked by the meat department at a store recently and could not believe the prices! Insane!
Smart move ❤
Gym membership is like $50 a month. Stuff like groceries and rent/home prices/insurance is what is recalling taking its toll.
Amazing! Good move to go vegan. I did it years ago but for ethical reasons-animal abuse and how corrupt agriculture and pharm industries are (over medicating the animals) so the antibiotics and hormones end up in us.
Veganism doesn’t work for me and I’m glad to do things that are better and work for my health and body. God bless.
The wage gap in America is growing wider and wider, meaning no matter how hard you work a job, it's not enough to keep up even before inflation. Fewer people can afford to save, much less invest, the high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
I completely agree; I am 60 years old, recently retired, and have approximately $1,350,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius! What I figured out years back what that with proper guidance, we can predict some of these situations and take advantage of them. Have you considered seeking the help of a financial advisor, the are vital towards retirement planning.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
My CF Annette Christine Conte, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Last video she was right on until she brought up government noticing our spending and thus not lowering prices. The government does not dictate prices, nor should they. We have a supply and demand economy and that’s why her original point makes sense. Until we slow demand they will keep prices as high as they can sell them for. But government has little to nothing to do with direct pricing and needs to focus on its own spending and money printing to slow inflation.
Yeah that want government regulation. I thought we hated that lol
No one knows how to budget and delay satisfaction.
Yess this is what I’m trying to work on
Why should we? Pay should go up, your type of people are the reason we get paid dog 💩 , with your cope bs budget strategy, no take me to a time when a single income could buy a house a car and still raise a fam of 4
Lots of people do. Basic expenses take up the entire budget
Honestly after feeding my child I buy eggs and ground beef for me and I survive then it’s intermitting fasting 😂cause I’m trying to loose weight
That doesn’t work for everyone. Try again, kid.
Right about to fast more for sure
So true how I been doing it Intermittent fasting , just making sure my kid is eating .
Lose, not loose. Loose means not tight.
lol drink a smoothies of milk ,banana and apple before your meal. It will make you beautiful.
Imagine this, you’re sipping coffee on a balcony overlooking a city skyline or lounging on a pristine beach, all while your investments are working their magic. With copytrading, you can finally pursue your passions, travel the world, and create unforgettable memories with your loved ones. It’s all thanks to the power of copytrading and the life you’ve always dreamed of!
Guess what? I’m celebrating a $500k stock portfolio today! It all started with a modest $70k, and I’ve been making smart investments that have paid off tremendously. Now, I have the time to enjoy my family and plan for the future. Copy trading has been a game-changer for me.
I’m curious, do you have a professional broker who helps you with your investments? If so, I’d love to learn more about how you work with them.
Can't share much here, I take guidance from ‘Matthew D Heck’ a renowned figure in his industry with over two decades of work experience. I'd suggest you research him further on the web.
Use his name to quickly conduct an internet search Matthew D Heck
HE’S ALSO MOSTLY ON TELEGRAMS APPS WITH HIS NAME.
Things are more expensive but people are also more entitled to a standard of living that they assume they deserve with an unequal amount of work put towards that standard of living.
All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.
In retirement, safeguarding your wealth against inflation is essential. Consider options like TIPS (Treasury Inflation-Protected Securities), commodities, or foreign currencies to hedge against a weakening dollar. Diversifying your portfolio with global real estate, international bonds, or high-quality foreign stocks can provide additional protection and growth opportunities in an inflationary environment.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions.
Consider a similar approach.
This sounds promising! Do you have any professionals or advisors you could recommend? I really need help with proper portfolio allocation.
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 Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
You have to start cutting back on things you don’t need like subscriptions or fast food
I stopped shopping for holidays years ago. Just spending just to spend is crazy.
We paid off our house early, no cc debt the only thing we owe is our car. No vacations, we rarely eat out. I retired in December. Most of our hobbies are free. Hiking, fishing. Groceries are what's hurting us.
What jobs did you both have?
Thank you for your awesome videos! 🎉 People are out here buying expensive bags with someone else's name on it, but not paying general bills to keep their lights on. From nails to hair, these things are costly. 😢
I spend $8 on a small container of honey today. And somehow spend 315 at Costco on groceries yesterday. Granted i got 4 packs of chicken which was $120 alone but it wasn’t a crazy haul or anything i was just enough for a week maybe 2 if i eat chicken for every meal 😅 i also skipped on 2 cartons of eggs and a jar of mayo bc that would been an extra $25 DOLLARS!!!!!!!!! That last girl was spitting facts 🤓 hahah
We realized the chicken breasts are large enough to be split into 4 meals, so cut in half twice. We also realized that our new portion size is the correct size of a meal. The 6 pack of breasts that is $50 now lasts like 2 months.
This poor guy, nothing has really changed. Its gotten worse, because i know people my whole life have to work 2-3 jobs their for life.
Never can take a vacation, barely making the bills, gone from family all the time, working til your physical crippled/ill, etc, etc,
No ECONOMIC STRATEGY has ever worked, trickle down effect, socialism, communism, etc. Think about it.
We will still be poor no matter the economic structure.
The Aldi near me went from one cashier waiting around for people to three cashiers always busy in the last 6 months.
Aldi is where it’s at 😂
Our aldis parking lots full all the time too, people have to switch to cheaper stores to get more.
Meanwhile our representatives r actually getting rich....hmmm? An their salaries r worth 6 ppl...no returns
And they tried to sneak in a wage increase right around the holidays.
Some of us are just not leaving the house and have reluctantly gotten used to it. I know there's a whole world out there...but I don't care to explore it anymore. I've eaten at fancy restaurants, I've done seasonal activities. I took loads of photos from every angle if I want to remember the fancy sandwhich I ate 3 years ago or the renaissance fair I went to pre-pandemic.
My food bill is second to my mortgage‼️
💯💯💯💯
I am "middle class" I am lucky because I am debt free, and I paid my house off in 15 years.... I buy the essentials. My fridge and washing machine broke last month....I was looking at spending 3K for basic, non fancy, replacements... I bought used for 1500k. Groceries, I buy essentials and make cookies, bread, chips etc... I refuse to buy them or anything I the middle isle. I eat oatmeal and toast for breakfast. My car is 12 years old and I take care of it, not buying a new one....
Three years ago my grocery bill averaged around $520 per month. Right now it’s around $830 or so. I’m not buying anything different either. Still get the same stuff most of the time.
It feels like they change the prices to higher ones every night.
Not killing each other over ham sandwiches 🤦🏽♀️🫤Jag talk😂😂
Gotta acknowledge the several factors causing inflation. In addition to too much money, we also have too little supply, plus consolidation at the corporate level has given companies outsized pricing power
Paycheck to Paycheck has always been normal for soooo many people! Paycheck to Paycheck is obviously better, then no Paycheck!❤
I have been disowned by my family! WTF lol! Either laugh or cry about it. That much I have managed to learn this far. Stay sharp Gents! Keep your head on a swivel.
That's not good.
It's sad but don't worry, if they really want to resolve the issue " let them make the 1st move" other than that there's a reason why this is going on. So take ADVANTAGE of it, move on ( no contact & no worries) & everything will come into place.
Rather you like it or not. Go relax, you got this.
Good luck.
It's harder to do than said, but, you absolutely need to take time for your self.
Good luck 🍀
@@vivianp5962 thanks so much. Never thought I would be so desperate to just have a normal conversation. I'm just numb. Best way to describe my feelings.
What also needs to be said is that life was tough last year it was tough four years ago. It was also tough 10 years ago and even 20 years ago. The only difference is it is catching up now to more and more people, and more and more people are speaking out about it. That’s the difference.
Eat once a day and always tell yourself you’re too broke to eat twice a day. Trust me it works you save a-lot and you’re actually healthy
Probably not healthy but slimming down for sure. 😂
It doesn’t when you’re not healthy, and I know. We did that.
Same, I use my credit cards for EVERYTHING for points but I can pay a majority of it off, I have a 3k emergency fund and 1k savings for anything to do with my car (tires & deductible) other than that, I'm check to check as well
Personally, I think it's time to get rid of credit cards. People in this culture not financially literate enough to have credit cards.
You have a point. I don't think they want us to be financially literate.
I rack them up, but don't pay !!! Lol
You don't get rid of something because people refuse to educate themselves about it.
It’s the same here in Taiwan. Minimum wage has been the same since 2012, no raise unless you work in the government or you’re a soldier. 😢😢😢
It's going to continue to be this way. Most people are unsure how to handle their own finances and politicians will always play dumb when it comes to printing more money. Do what works for you.
All I know is corporations are making record highs and working and poor are experiencing crap.so somebody isn't playing fair.
Funny. I budget, I follow the budget, and my bills are stable. I don't spend unnecessarily. I even budget Christmas for the year, (It's not like it is a surprise when it comes around). I don't want to sound callous, but I really believe people do not understand living within their means, making a budget and living on that budget. Important context. I don't have any debt except a mortgage, I have an emergency fund of 3 months, with good job security. I do have a child.
I’m guessing you don’t make minimum wage
What I find scary is that lately, I rarely smell anyone cooking, and I'm talking about people who are home. I understand things have changed, I really do, but even on Sundays and holidays, it's rare. 😟
I’m one of the fortunate ones. I don’t live paycheck to paycheck. But I also work 12 hour swing shifts in a dangerous and heavy industrial plant that working often 60-70 hours a week. And I’m one of the lucky ones…
Yep...I work hard as well....hardly any time for a social life
@@ColetteSpencer-k5oWe work hard too, and yet still in poverty and homeless now with over 600,000 in medical debts. Those trade jobs are overrated indeed.
SOCIETY HAS TO STOP WASTEFUL SPENDING ALSO☝
Its gonna be more like the Judge Dredd universe than the purge.
About the time I trim a couple hundred bucks off the monthly budget is about the time I get the notice saying this, that, and the other thing is going up in price.
Exactly! The bar is being constantly MOVED!
yep..
I make $30 dollars an hour. I'm a single mom to 1, and i pay for everything on my own. I sometimes sit back and think, "Am I doing something wrong?" How I'm leaving check by check 😂😂😂😂. It's a real ass struggle.
Same. No help from anywhere. It’s hard out here. I definitely live paycheck to paycheck. I’m trying to course correct my spending. I coupon and buy things on sale. 😊
I'm basically paycheck to paycheck at 70k/salary. Cost of living for me seems to have doubled. Even with my home paid off I can't afford to live.
How is that possible to be paycheck to paycheck without a mortgage? You have something abnormal going on
As a 65 year old woman, when working at Macy's in the Mall 1998~ the minimum wage was $9.00 hourly plus commission.
At thirty eight years old, I was a shoe sales person. Not much money then, but the cost of living was fair price.
Cash stuffing really helped me. Im a mom of 3, and with my first, i had bad spending habits. But 3 deep, i been on multiple financial journeys lol. I was even at a piont, not buying anything but essentials which helped me pay off my student loans and buy a house. Now, i save buy cooking alot (not fun but it saves money) and being mindful of the budget. But imma be honest, i dont get the best products (ie grass fed, organic shit), i buy whats a good price at walmart. I spend less than 100 bucks a week on groceries. One day i hope to buy better quality food though
Yet you are eating toxic shit which will come back on you. No wonder God forewarned of people who fail to learn and who are destroyed for lack of knowledge. You need to learn sense. Hopefully you will. What you put in your body, will affect you. I used to eat that bottom of the barrel cheap crap. What did it cause? Over 500,000 in medical debts and chronic health problems. Try again, kid. Don’t knock the real food which is organic and non-GMO stuff. It started to turn my health around, and I say that as a poor homeless person after buying cheap crap from Walmart and Dollar Tree nearly killed me.
When minimum wage was created it was absolutely meant to be a living wage. The president at the time was quoted saying so. It was meant for your average person to be able to sustain a healthy living. Not to be rich, but certainly not to be struggling to get by.
First guy. Good point, but really you have to work more than an hour because of taxes and the cost of "benefits" like health care.
It isn't one thing or the other. Cut waste, tax the rich more, and require employers to pay more.
The middle class is being hollowed out mostly by the rich and corporate greed.
No my dear, groceries are not going down, or housing or anything!
I heard someone say “ it’s going to hurt your bank a little before it will get better.” And yes, that was #45-47.
When people say the government just prints money, it makes me think they don't know what they are talking about. There are cycles of expansionary monetary policy and contractionary monetary policy. The people who say they want the government to stop printing money also say the fed must lower rates, which is what printing money is.
Wut? Printing money increases inflation, which means the "fed" typically increases interest rates. Or maybe I'm not understanding your point made here.
smh
The government printed the money and then businesses raised their prices and sucked it all up. A person that makes a billion dollars one year isn’t satisfied making a billion the next year. They want more. There isn’t enough for these few ultra wealthy to keep hoarding more each year unless they take it from the bottom.
I'm pretty confused about what this means "printing money"and need to do my research. I don't want to be one of those against Obama care And FOR the Affordable Healthcare Act.
I definitely need to do better on spending this year! I'm cooking way more at home so I'm proud of myself for that. Working on finding a new job to increase my income. I have some work to do but for me, it's not impossible. I'm gonna do it and be debt free!!!!
Let’s face it. The problem is us the people and I mean, Democrats and Republicans if the federal minimum wage hasn’t changed since Obama was an office then it’s our own fault we as a society I’ve done nothing to change it. Meanwhile, how many raises has Congress authorize themselves?
How many more benefits are we giving to illegals in this country or simply foreign aid?
We as a country as the problem we allow us to
That’s the end of it
“Oh look! A deli meat!” - Ben Stiller 😅
Seriously, though, working an hour for some lunch meat is not a good sign, at all! We’re screwed guys. Better learn how to water fast and save money. The Hunger Games is now officially a reality…You buy what’s on sale. And don’t buy junk food, ever again!
Stop buying cheap Walmart or Dollar Tree poisoned crap. It’s cheaper in the short term, more expensive in the long term, as I had to learn the hard way with almost 600,000 medical debts and disabled with chronic health problems and ending up homeless, poor, and unemployed.
Happy new year❤,I love the grounded reality of this channel!!!
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you..prevent inflation*
I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $10,000 and receiving $35,460 after 28 days of trading.
I will recommend. Michael Wayne . Investing Services. to you. He is good at what he does.
It's great to see you guys talking about Michael Wayne, This man changed the game for me. Good Man❤️
No doubts, this Michael Wayne must be an icon; how good is he and how safe is "profit making" with him.?
Educate yourself, kid. You have much to learn.
0:40 I’m surprised, i thought you were going to do another one of your spiels on investments and not working hard enough.
7.25$ PA.
Corporate price gouging is not the same as inflation. The bulk of inflation is in home prices. The shit we see in Publix is because of corporations! Thank you Reagan administration
Ronald Reagan left office in 1989.
@@oldhag2881 and Biden is leaving now..whats ur point??
You know what ur username tells me enough
If people keep paying the high prices - they are telling these companies that it is ok for them to charge that much. Stop buying those things for a time, if enough people do it, prices will come down.
Minimum wage should have always had a COLA, but we will never see anything like that in this country. We are not the best and haven't been in quite a while.