I love how BTC advocates want to calculate the ROI on bitcoin assuming that everyone has a time machine and can go back and buy BTC for $240. The rise from $240 to $68,000 is NOT going to happen again.
Hey Scooby, I have been watching your videos since 2006 when I was just in 10th grade. I am 34 now with a good career, a degree, two kids, and a kind wife. I grew up in a pretty dysfunctional home and I just want to say thank you for all the videos over the years. You and a small handful of male and female TH-camrs have helped me on countless levels in countless ways over the years. I think about you and a couple others every father's/mother's day. I know that is pathetic but I don't care. I never comment but always watch. I owe you my physical, mental, and financial health. I should scratch you a check to be honest. I don't know what to say but, THANK YOU.
I’ve been watching your videos for probably 10 years now? Your advice is always welcomed. You have influenced my life in a positive way concerning my health. Always great to see you doing so well! Just want to say God bless!
Couldn't agree more, consistently living below your means is key. Without doing so you'll have no money to invest. Seriously looking at the ROI of paying for a college degree should really be looked at, too.
Thank you very much for this kind of videos, I discovered you some hours ago in internet, Im 16 year old and i dont have any masculine figure on my life that is supposted to teach me this kind of stuff, Im very grateful for this kind of content!
You are great. I did an engineering degree because of you then a masters. Did what you say and got some real estate for passive income and invest rest in index funds. Also improved my diet and gym. You are great role model for younger generation. Many thanks
I stumbled upon one of your 18 year old TH-cam home workout videos … then I realized I watched it 15 years ago too ! You were a pioneer of fitness content on the internet. Thank you , Scoob , now at almost 40 I keep fit and appreciate all the advice you gave to our younger self’s .
Scooby I am a long time subscriber of yours (since 2012) and thanks to your advice I bought my first apartment two months ago. It felt really bad to put all my savings like that because I could have spent the money on some nice cars or whatnot but hopefully after 5 years the flat should worth way more than what I paid for.
I know you've made lots of videos like this, but this is the best one. Super condensed, straightforward, and facts-driven advice on how to approach investing if you're young and have 20-30 years ahead of you for retirement. The worst thing you can do is wait. Start saving today, and once you're able to, start investing. Time value of money - a dollar today is always worth more than a dollar tomorrow.
I found your channel about 10 years ago when I was in my late 20's and I used your videos to start working out and building muscle and lost 125 lbs. I have kept it off since and I'm now pushing 40 and stopped watching your videos years ago unfortunately. You popped into my head suddenly and I just felt the need to say thank you. I don't really comment on TH-cam, but I'm healthy and happy today because of your videos 10+ years ago. So, thank you very much.
Great advice thank you so much! I'd also like to add pretty much what you've been doing most of your life staying active and eating healthy because in a way Health really is wealth!
I'm finding more often than not that genuine hard work, done properly and smartly, will pay off in spades especially when living within your means. These goofy "sit and get lucky" schemes always make me chuckle when I'm personally comfortable not being "rich", whatever that means these days. This info was really cool Scoobs!
😄 "You are going to lose your shirt" I really like the intro Scooby... along a similar line of thought, I've learned to not give unsolicited advice... even if good advice the intended audience has to be receptive
This is solid advice! Im going for index funds/dividend focused etfs with a touch of individual dividend stocks with good outlook and gold bars. Should be ok in the long run.
Hey Scooby. Thanks for this video. I have a decent amount saved in retirement for my age, and I just started my own house cleaning business. Starting a business is very intimidating and stressful and I sometimes wonder if it's a good idea. Your video helped give me a boost in confidence that I really needed. Thank you.
Awesome video. People often focus on how an investment will go up, not how volatile it is, which can offset any gains it may make in a bull run and such!
More common sense excellent advise from Scooby. I was fortunate to have a friend like you when I was young. I sure hope that some of your viewers are smart enough to learn from your video lessons.
Great advice. That’s what I do and plan to retire soon in my 50s. I’m frugal, just need to reign in my wife sometimes lol. Following the Scooby plan all the way!
@@scooby1961 I do have a question about the video. I am 27 years old. I graduated from University two years ago and I'm still somewhat new to the workforce. I make a good amount of money, but I'm not sure what to do with it. I have an investment account that is in my name, but I do not have access to it, my father and grandfather have been running it before I was born. I gain access to this money when I'm 30, but in the meantime, I would like to set up a Roth IRA for my current income, would that make sense to do?
i feel like the real estate route is a little trickier than it's made out to be. people from california, texas, new york, etc will all have great things to say about real estate because those states happen to have some of the worst housing shortages in the country. but if you're in the midwest, for example, then the returns are soooo much slower because those home values don't climb as quickly, and the high property taxes eat away at your potential returns.
@@scooby1961 cant remember exactly, you mentioned Gold as an investment, but the smile was like I could say/tell you so much more but I wont. I have Gold stories but I'll take them to the grave, I will say I had to replace the suspension on my car after the drive cross country.
The analysis of the two investment options and one speculative option is good to see. An important aspect is also the risk factor for each investment, and that should scare off one of the options. Even if they all got the same 5 year return, a low risk way to get there is a better option than high risk to get there.
Great video Scooby! Long term fan here. I personally enjoy picking stocks, but I don't do it based on hype or what is "hot". I look primarily at companies that can consistently produce a high ROIC through different market environments, that also have a high credit rating (Home Depot, Microsoft etc...) then look to buy those companies at cheaper prices than what I think they are worth. I do believe a method like this can beat the market long term, though it does recquire one to make assumptions about where the business is headed.
If picking stocks is a hobby, its awesome! Many "investing clubs" assign members to do research on a business sector or company and do a report. It makes investing a lot more personal.
Thanks for your video, really solid advice. Me and a friend put £300 in Bitcoin and Etherium in 2015 (we were going to in 2008..), and withdrew £3000 (roughly) in 2018/19, and obviously were a bit gutted we didn't wait until it spiked, or years earlier. Still happy though, as was happy to lose the small amount we put in if it hadn't worked out. I think your advice on starting a business is the route i'd like to pursue. Thank you for your help :)
Great advice as always! But you missed the best investment tip, work for a government agency that regulates corporations then use that information to buy and sell stock before the public knows what will happen, just don't get caught, or if you do then make sure you donated money to the party in power.
It takes a serious look at one's life and get numbers down on paper so you can get a good grip on what is happening with your money. If you look closely enough, there is so much you can cut out that is not necessary and just a waste. The last few years before retirement, I was putting about 54% of my gross pay (not net pay) into savings and investment. If you are careful in every area and pay attention you can save so much. My father always said, "It all adds up." You can be quite comfortable and don't even have to live an ascetic lifestyle that is miserable to get there. I just came back from a 2 week scuba trip to Bonaire. The resort provided breakfast (and I ate like a man on death row) and we went to a grocery store for food for the days. Now each night, the group went out to dinner-outside of the first night where I went to a pizza place with them (spent $15.50 on a pizza) I never went out to eat for the next 13 nights. My total food bill was just under $72 for two weeks. Shoot, I tipped the dive boat crew more than that. From what I heard, most people spent that much or more every 3 or 4 nights. My staying in did not diminish the quality of my trip in the least. I think of a line from a Somerset Maugham book where a character says, " I am fortunate in that I am immune to the discomforts that harass normal folk" ( or something to that effect). Some people feel they have to eat out or spend a lot on clothes or fancy cars (flash over substance)- all these things that don't interest me. I don't jack the thermostat up and down when the seasons change and have very reasonable gas/electric bills. I am at a point where I no longer have to worry about the cost of groceries like I did in my 20s but I still cut coupons, get things on sale, use digital coupons, etc. I recently laughed about a grocery purchase where I bought 15 things and all but 2 were on sale or I had digital coupons. I never try to pay full price for anything. As a result, I went to the Maldives this year for a scuba trip on a boat for a week, spent almost two months in Key West, and made two trips to Bonaire. It can be done folks, but you have to seriously want to do it and be willing to do what it takes. If you made it to the end here, apologies for the long screed. Cheers
This advice can spare a lot of financial suffering. How can someone absorb the culture of a completely new place so they can really get into the groove and network properly? Is developing that grit to not be afraid a completely natural process or are there things think when going into it? I didnt have enough time to learn a lot of things. Thanks for knowledge wise boomer
Sounds like you may have moved from another country. Yes, its hard to get into the groove. My advice is strive hard to learn what it means to be an American but stay proud in your roots.
Funny you post this now. I had a recent discussion with someone from the US who didn't understand why it would be bad to buy everything on lease. As for myself, being a single guy it's impossible to buy a house/apartment right now in my country. The prices are insane. Investing in real estate is great, but it often takes money to make more money unfortunately. I manage to save about 25% of my income each month, which I'm pretty proud of having to pay for everything alone.
Wow Scooby it’s great to see you again! Where did the time go? I remember 10 years ago I started watching you as a shy closeted teenager who wanted a visible six pack 😂😂 Fast forward to now and I’m back again looking for advice from you except on my finances! I got the six pack lol. My question was do you think my portfolio looks okay? 100k portfolio VTI-70k BTC-5k ETH-5k Gold-10k Cash-10k
Art and collectibles have done much better than most other investments including stocks and real estate. If you have expertise so that you are 100% sure what you are getting is authentic, its an amazing investment.
I’m 32 years old and finally at a point where I am starting my own investments as well. I wish I had started 5-10 years earlier but I feel like some of the markets weren’t that profitable at that time. I started a Roth IRA and have some high yield dividend stocks 9% or higher starting off. I’m also using t bills as a short term investment ladder in replacement of a cd or high yield savings acc. And the last one I will also start and recommend to anyone else would be to invest some money into i bonds. They’re made to counter inflation and save money over 20-30 years as well,
1:02 "Most Americans live beyond their means". Reminded me of a funny Reddit situation. A guy asks on a financial subreddit "My clothes dryer broke, my finantial situation is such and such, is it a good idea for me to spend X dollars on a new dryer?". I ask "Why do you need a dryer". "To dry clothes". "Yeah, but why do you need a dryer to dry clothes?". "Because having clothes on a rack in my house is below the living standard of most Americans" is the answer I got. Well then, dear average American, remain poor if some fictional living standard is so sacred to you.
Good advice. Sound investing practices should be "boring". The only reliable way to get a return is to take on market and other priced risks (rather than idiosyncratic risk of individual stocks etc). Crypto doesn't have an expected source of return. It's totally conceivable that crypto will see more mainstream adoption, but also have future negative returns.
Scooby, where is our black friday video? 😄 We've been waiting all year, refreshing youtube all the time! I always look forward to Black Friday, not to buy garbage but to watch you vid lol :P
Re EMP: The very same can be said for banks and brokerage since everything is done digitally with those as well. The main protection against that is physical assets: gold, silver, rice, beans, bullets, toilet paper, etc..
@@scooby1961 Hypotheticaly if that happen and electronic were gone, saveing would not matter anymore :) what would matter is survival skillset, we would become hunters and gatherers again :D
Great advice. I appreciate that you say crypto isn’t worthless. A lot of folks 60+ just write it off cause they can’t wrap their heads around it. Think it’s wise for everyone to learn about proper, security, storage and management of crypto assets. Hold a small amount long. Diversify like you said.
I would like to add that "Retiring" kills ya. I've seen dozens of healthy working people getting depressed after retiring and dying within a couple of years. Working when you're older gives you purpose, it's not a burden, it's a life choice.
A lower-maintenance (not maintenance-free) way of real estate investing is to buy a newly constructed condo and make sure the rent you charge covers the mortgage and HOA fees.
Right, buying a new place means no maintenance BUT you still have to screen tenants and then repaint/clean when they move out. As far as what to charge, you can only charge what the place is worth. With mortgages now at 6%, its unlikely you could break even with a rental property now.
Finance and fitness have so many parallels in terms of scams. I am sure you see the scam a mile away, it's the same thing in both domains, get rich quick , get abs quick, or make 100x your money or make 23inch biceps. Or the best it's when it's both fast and big gainz, make better abs than arnold in 3 days, make 2 million in 2 months.
Thanks Uncle Scooby - towards the end you summarise investing in a dollar cost averaging - is their a uk equivelent? or if i'm missing something perhaps there is some text on this topic somewhere
Hi Tim! In the UK you have pension plans but I dont think you can do this. You could set it up on your own though. Just set up an account at a brokerage house (Vanguard, eTrade) then set up a recurring £XXX purchase that happens at the first of every month. I like the Vanguard index funds because they have very low admin fees, VOO and VTI are the ones I like.
Hi Scooby, I am thinking of investing in real estate in Perth, as it is cheap Australian real estate. Moreover, I can get a beachside house which can also earn a lot more than standard rent as an AirBnB over 3 months during summer. You mentioned that you need to manage real estate yourself to make it a worthy investment, and since I am from Melbourne (not Perth), would that make this strategy unwise if distance is a factor for property management? Thanks
You are asking the right questions! Just because you are in Melbourne (which I love) and want to invest in Perth does not mean you cant manage it. When I said that you have to do it all yourself or everyone gets rich except you, I was referring to yearly leases. When it comes to airBnB, its a little different ballgame. Because the monthly income is so much higher with airBnB, you can afford to hire services and still make money. I would try and find someone who has purchased a place in Perth and see what their income and expenses are in the real world.
Scooby, have you heard of a teacher buying a beachfront property to rent out all summer while they travel then moving back in as school starts? Given, this would be more work, but if the teacher was semi-retired (pension,savings, etc) and purchased it outright, it would seem a sensible way. Obviously not my situation as of now, but I’d like to teacher when I am ‘retired’ (I’ll probably keep working because I like doing something, like your channel).
What happens if you invest in everything. I have a house, have crypto, save every month in a savings account, have a pension, and also have a woodworking workshop at my house where I sell things on etsy and ebay. I dont have any debts or have a car - I use public transport, and my sales are collected by couriers
People were ready to buy bitcoin at 70k , But are not ready to buy the same bitcoins at 16k. Funny world we live in. I think putting 5-10% of your overall portfolio in bitcoin is a good way to diversify and still get a good risk - reward ratio. There is no such thing as a free lunch when it comes to investing, you are still risking money betting on bitcoin, but now is a LOT LOT Better time to be putting some money into it and holding for the long term.
a couple down years doesnt scare me. I believe AI, automation, and robotics will help the world economy grow exponentially. With that said, I will stick to ETFs with a Vanguard total stock market index fund being my main investment ETF. I'll look into tech and AI based ETFs for a bit of risky investments. If I am feeling really risky I could just invest in leveraged ETFs, but that is RISKY with a high chance of failure. As far as real estate I would consider buying a house or apartment, pay it off in 5 years, rent it out, and repeat. Do that for 3-4 houses, then maybe leverage a few. It's just a thought. Real estate scares me more than index funds. Best of luck to everyone.
scooby , just a thought of a video idea, that might be up your ally, if you could do a video of bike computers, and what you recommend, and what you think of them ?
Hey scoob, have you ever had any point in your youth where you were not able to get much sleep at night? If so, did you feel any detrimental effects to your health or mindset from sleep loss?
Yes, I had all kinds of anxieties that led to sleep problems. I finally outgrew them. Your question is a very typical mind death-spiril, and one I had. Your alarm is set at 7am for work, you know that sleep is really important for your health so you are stressed about getting back to sleep. Because you are stressed about getting back to sleep, you are wide awake. Breaking that loop is the key.
Scooby, which investment index do you buy? Do you stick with the S&P 500, expand it to the U.S. Total Market with VTI, or do you have a global portfolio with international stocks through VT or a combination of VTI/VXUS?
I love how BTC advocates want to calculate the ROI on bitcoin assuming that everyone has a time machine and can go back and buy BTC for $240. The rise from $240 to $68,000 is NOT going to happen again.
Just wait Scooby 1-3more years
We need some regulation
This scam will never end.... in 5 years it will happen same thing.
@@zsel81 if it keeps on gowing
It’s called diminishing returns and many legitimate crypto analysts are aware of this
Hey Scooby, I have been watching your videos since 2006 when I was just in 10th grade. I am 34 now with a good career, a degree, two kids, and a kind wife. I grew up in a pretty dysfunctional home and I just want to say thank you for all the videos over the years. You and a small handful of male and female TH-camrs have helped me on countless levels in countless ways over the years. I think about you and a couple others every father's/mother's day. I know that is pathetic but I don't care. I never comment but always watch. I owe you my physical, mental, and financial health. I should scratch you a check to be honest. I don't know what to say but, THANK YOU.
Damn
People like you and Scooby make my day alot easier thanks
You and I are literally cut from the same cloth. Started in 10th grade, 34, married, 4 kids similar unstable upbringing.
Being a homosexual is a crime to God. And he won’t let you into heaven when you die if you continue this lifestyle and die in it
Wow, that's fantastic. All the best to you.
I loved your investing and financial independence series, and missed these kind of videos. Awesome!
Glad you like them!
@@scooby1961 I also missed them. Like I miss your website..
I’ve been watching your videos for probably 10 years now? Your advice is always welcomed.
You have influenced my life in a positive way concerning my health. Always great to see you doing so well! Just want to say God bless!
Thanks!
Are you rich yet?
I don't mind losing my shirt if I had a physique like ol' scoobs
LOL!
Couldn't agree more, consistently living below your means is key. Without doing so you'll have no money to invest. Seriously looking at the ROI of paying for a college degree should really be looked at, too.
yep, you get this!
@@Abcq755 and you were making money during the time others were in school.
Thank you very much for this kind of videos, I discovered you some hours ago in internet, Im 16 year old and i dont have any masculine figure on my life that is supposted to teach me this kind of stuff, Im very grateful for this kind of content!
I will gladly be your favorite uncle :)
You are great. I did an engineering degree because of you then a masters. Did what you say and got some real estate for passive income and invest rest in index funds. Also improved my diet and gym. You are great role model for younger generation. Many thanks
Way to go!!! Congrats on the masters AND the real estate!!!
I stumbled upon one of your 18 year old TH-cam home workout videos … then I realized I watched it 15 years ago too ! You were a pioneer of fitness content on the internet. Thank you , Scoob , now at almost 40 I keep fit and appreciate all the advice you gave to our younger self’s .
Wow, thank you!
Scooby I am a long time subscriber of yours (since 2012) and thanks to your advice I bought my first apartment two months ago. It felt really bad to put all my savings like that because I could have spent the money on some nice cars or whatnot but hopefully after 5 years the flat should worth way more than what I paid for.
congratulations!!!!! You rock! Its funny, there are a some usernames that I have remembered thru the years and yours is one of them.
I know you've made lots of videos like this, but this is the best one. Super condensed, straightforward, and facts-driven advice on how to approach investing if you're young and have 20-30 years ahead of you for retirement. The worst thing you can do is wait. Start saving today, and once you're able to, start investing. Time value of money - a dollar today is always worth more than a dollar tomorrow.
Thanks! That is awesome to hear. I always try to keep things short and concise but I guess this time I did a better job :)
I found your channel about 10 years ago when I was in my late 20's and I used your videos to start working out and building muscle and lost 125 lbs. I have kept it off since and I'm now pushing 40 and stopped watching your videos years ago unfortunately. You popped into my head suddenly and I just felt the need to say thank you. I don't really comment on TH-cam, but I'm healthy and happy today because of your videos 10+ years ago. So, thank you very much.
Thanks for making my day ... and congratulations on losing that 125lbs AND keeping it off!
Always appreciate any advice you give. Great video Uncle Scooby!
Thanks!
Great advice thank you so much! I'd also like to add pretty much what you've been doing most of your life staying active and eating healthy because in a way Health really is wealth!
Sage advice. Thank you Scooby, the ambiance of your home is so calming.
Thanks!
I'm finding more often than not that genuine hard work, done properly and smartly, will pay off in spades especially when living within your means. These goofy "sit and get lucky" schemes always make me chuckle when I'm personally comfortable not being "rich", whatever that means these days.
This info was really cool Scoobs!
Thanks!
Great advice, same advice I got, I give and is rarely adhered too :) Love your content
Thanks!
Another great spot on sound advice from scooby keep on branching out to different topics great work 👍
😄 "You are going to lose your shirt"
I really like the intro Scooby... along a similar line of thought, I've learned to not give unsolicited advice... even if good advice the intended audience has to be receptive
Yes, you get this.
This is solid advice! Im going for index funds/dividend focused etfs with a touch of individual dividend stocks with good outlook and gold bars. Should be ok in the long run.
Always listen to Scoobs regarding finance. I did that two years ago and am in the best financial shape of my life.
Hey Scooby. Thanks for this video. I have a decent amount saved in retirement for my age, and I just started my own house cleaning business. Starting a business is very intimidating and stressful and I sometimes wonder if it's a good idea. Your video helped give me a boost in confidence that I really needed. Thank you.
You can do it! Congrats on starting your own business!!!!!
@@scooby1961 Thank you
Your life advice videos are the best. More please 😁
Thank you! Will do!
Thanks Scooby, lots of love from Belgium!
Awesome video. People often focus on how an investment will go up, not how volatile it is, which can offset any gains it may make in a bull run and such!
Scooby is actually very smart financially. Great to see him at the top of his game
Hi Scooby
Thanks for still posting videos !!
More common sense excellent advise from Scooby. I was fortunate to have a friend like you when I was young. I sure hope that some of your viewers are smart enough to learn from your video lessons.
Thanks!
Hey there wanted to say thanks for your videos for both fitness and none fitness ones you have put me in a journey I believe enjoy a lot.
As simple as it is the slides and the excel. It sends a hard hitting image. I can't believe am back to scooby for everything.
Thanks!
Thank you Scooby. Very well said. Everyone is following these social media people and they are getting an unrealistic idea of wealth creation.
People got rich selling their "systems" for generating wealth with crypto.
Love your finance videos investing changed my life ❤️
So glad!
@scooby. hadn't seen videos from you for a wihle. Glad to see you are still out there generating great content! Stay well
Welcome back!
Great advice. That’s what I do and plan to retire soon in my 50s. I’m frugal, just need to reign in my wife sometimes lol. Following the Scooby plan all the way!
You can do it!
Always a wise man, my most respected bodybuilder.
Cheers from Chile!
P.s: subbed since 2010.
Hi longtimer!
I like these Scooby:) , thank you.
More to come next week!
@@scooby1961 I do have a question about the video.
I am 27 years old.
I graduated from University two years ago and I'm still somewhat new to the workforce.
I make a good amount of money, but I'm not sure what to do with it.
I have an investment account that is in my name, but I do not have access to it, my father and grandfather have been running it before I was born.
I gain access to this money when I'm 30, but in the meantime, I would like to set up a Roth IRA for my current income, would that make sense to do?
i feel like the real estate route is a little trickier than it's made out to be. people from california, texas, new york, etc will all have great things to say about real estate because those states happen to have some of the worst housing shortages in the country. but if you're in the midwest, for example, then the returns are soooo much slower because those home values don't climb as quickly, and the high property taxes eat away at your potential returns.
Gold .... that smile you made ;)
what time did I do it??
@@scooby1961 cant remember exactly, you mentioned Gold as an investment, but the smile was like I could say/tell you so much more but I wont. I have Gold stories but I'll take them to the grave, I will say I had to replace the suspension on my car after the drive cross country.
This guy just never goes wrong.
Thanks!
Scooby, handsdown my favourite boomer. ❤️ More financial advice videos pls.
LOL! :)
@@scooby1961 thank you uncle Scooby!
The analysis of the two investment options and one speculative option is good to see. An important aspect is also the risk factor for each investment, and that should scare off one of the options. Even if they all got the same 5 year return, a low risk way to get there is a better option than high risk to get there.
Correct! BTC has the same 5 year return but its been a scary ride
"You are going to lose your shirt."
Um....Scooby......?
LOL!!! Best comment of the day :)
Great video Scooby! Long term fan here. I personally enjoy picking stocks, but I don't do it based on hype or what is "hot". I look primarily at companies that can consistently produce a high ROIC through different market environments, that also have a high credit rating (Home Depot, Microsoft etc...) then look to buy those companies at cheaper prices than what I think they are worth. I do believe a method like this can beat the market long term, though it does recquire one to make assumptions about where the business is headed.
If picking stocks is a hobby, its awesome! Many "investing clubs" assign members to do research on a business sector or company and do a report. It makes investing a lot more personal.
great content as always scooby, tnx for making your channel full of valuable stuff
Thanks for your video, really solid advice.
Me and a friend put £300 in Bitcoin and Etherium in 2015 (we were going to in 2008..), and withdrew £3000 (roughly) in 2018/19, and obviously were a bit gutted we didn't wait until it spiked, or years earlier. Still happy though, as was happy to lose the small amount we put in if it hadn't worked out. I think your advice on starting a business is the route i'd like to pursue. Thank you for your help :)
Great advice as always! But you missed the best investment tip, work for a government agency that regulates corporations then use that information to buy and sell stock before the public knows what will happen, just don't get caught, or if you do then make sure you donated money to the party in power.
It takes a serious look at one's life and get numbers down on paper so you can get a good grip on what is happening with your money. If you look closely enough, there is so much you can cut out that is not necessary and just a waste. The last few years before retirement, I was putting about 54% of my gross pay (not net pay) into savings and investment. If you are careful in every area and pay attention you can save so much. My father always said, "It all adds up." You can be quite comfortable and don't even have to live an ascetic lifestyle that is miserable to get there. I just came back from a 2 week scuba trip to Bonaire. The resort provided breakfast (and I ate like a man on death row) and we went to a grocery store for food for the days. Now each night, the group went out to dinner-outside of the first night where I went to a pizza place with them (spent $15.50 on a pizza) I never went out to eat for the next 13 nights. My total food bill was just under $72 for two weeks. Shoot, I tipped the dive boat crew more than that. From what I heard, most people spent that much or more every 3 or 4 nights. My staying in did not diminish the quality of my trip in the least. I think of a line from a Somerset Maugham book where a character says, " I am fortunate in that I am immune to the discomforts that harass normal folk" ( or something to that effect). Some people feel they have to eat out or spend a lot on clothes or fancy cars (flash over substance)- all these things that don't interest me. I don't jack the thermostat up and down when the seasons change and have very reasonable gas/electric bills. I am at a point where I no longer have to worry about the cost of groceries like I did in my 20s but I still cut coupons, get things on sale, use digital coupons, etc. I recently laughed about a grocery purchase where I bought 15 things and all but 2 were on sale or I had digital coupons. I never try to pay full price for anything. As a result, I went to the Maldives this year for a scuba trip on a boat for a week, spent almost two months in Key West, and made two trips to Bonaire. It can be done folks, but you have to seriously want to do it and be willing to do what it takes. If you made it to the end here, apologies for the long screed. Cheers
54% of pay into savings! What an unpatriotic American! LOL!
@@scooby1961 Don't know but I do know, a very happy retiree!!
This advice can spare a lot of financial suffering. How can someone absorb the culture of a completely new place so they can really get into the groove and network properly? Is developing that grit to not be afraid a completely natural process or are there things think when going into it? I didnt have enough time to learn a lot of things. Thanks for knowledge wise boomer
Sounds like you may have moved from another country. Yes, its hard to get into the groove. My advice is strive hard to learn what it means to be an American but stay proud in your roots.
Funny you post this now. I had a recent discussion with someone from the US who didn't understand why it would be bad to buy everything on lease.
As for myself, being a single guy it's impossible to buy a house/apartment right now in my country. The prices are insane. Investing in real estate is great, but it often takes money to make more money unfortunately. I manage to save about 25% of my income each month, which I'm pretty proud of having to pay for everything alone.
Scooby thought he was smarter than everyone else.
LOL! lost my shirt!
Wow Scooby it’s great to see you again! Where did the time go? I remember 10 years ago I started watching you as a shy closeted teenager who wanted a visible six pack 😂😂 Fast forward to now and I’m back again looking for advice from you except on my finances! I got the six pack lol. My question was do you think my portfolio looks okay?
100k portfolio
VTI-70k
BTC-5k
ETH-5k
Gold-10k
Cash-10k
A shirtless man telling me I'm gonna lose my shirt? This is advice I can trust.
thank you for the bottom signal scoobs. i love you deeply
more coming on why its a big bottom
00:24 "You are gonna lose your shirt" hahahaha, Scooby you are so Hilarious
Gold holds good also, and silver but I like Art, collections
Art and collectibles have done much better than most other investments including stocks and real estate. If you have expertise so that you are 100% sure what you are getting is authentic, its an amazing investment.
@@scooby1961 Yes stick to what you know, study what you love, collect what you love, sell what you love
The greatest thing about these options is that you can choose to put an arbitrary amount of money and effort into each of them.
Glad you're still kickin and Dooing it, Scooby
I’m 32 years old and finally at a point where I am starting my own investments as well. I wish I had started 5-10 years earlier but I feel like some of the markets weren’t that profitable at that time.
I started a Roth IRA and have some high yield dividend stocks 9% or higher starting off.
I’m also using t bills as a short term investment ladder in replacement of a cd or high yield savings acc.
And the last one I will also start and recommend to anyone else would be to invest some money into i bonds. They’re made to counter inflation and save money over 20-30 years as well,
You got this!!!!
Great advice from uncle Scooby !
Thank you kindly
Thank you! Good video
Would you say now is a bad time to invest in stocks and it would be better to wait a little?
DCA!!!!! Do NOT try and time your stock purchase! Put the same dollar amount in every month.
@@scooby1961 ty
"Trading coaches hate him" 😁
LOL!!!
Dude, you are awesome!
Scooby giving financial advice? That's very good, but giving me advice on how to not lose my shirt? Errrrmmmm...
:)
It recently found out I sleep better shirtless! I'm turning into Scooby!!
My plan is succeeding. Soon the whole world will be shirtless and I will be just normal!
tho i would recommend VT instead of the S&P or VTI cause it has international exposure. mixing VTI and VXUS is also an option.
I do this. 2/3 vti 1/3 vxus of my total stocks
Great advice ! Investing is like body building , small gains over 30 years turns your bank account into a buff Scooby.
LOL! Thanks!
I learned the hard way where was this video in my younger years!? Wouldn’t of mattered as my younger self wouldn’t of listened 😂
1:02 "Most Americans live beyond their means". Reminded me of a funny Reddit situation. A guy asks on a financial subreddit "My clothes dryer broke, my finantial situation is such and such, is it a good idea for me to spend X dollars on a new dryer?". I ask "Why do you need a dryer". "To dry clothes". "Yeah, but why do you need a dryer to dry clothes?".
"Because having clothes on a rack in my house is below the living standard of most Americans" is the answer I got.
Well then, dear average American, remain poor if some fictional living standard is so sacred to you.
LOL!!! So true. I "need" it because everyone else has it.
Good advice. Sound investing practices should be "boring". The only reliable way to get a return is to take on market and other priced risks (rather than idiosyncratic risk of individual stocks etc).
Crypto doesn't have an expected source of return. It's totally conceivable that crypto will see more mainstream adoption, but also have future negative returns.
"You are going to lose your shirt" - is that why you never wear a shirt? lol
LOL!!! Best comment of the day :)
Thanks for being you man!!!
From one boomer to another sound advice Scoobs.
:)
Rule #1 should be "Don't listen to the guy who's shirtless!" .... just playing Scoob
LOL
Thanks Scoob. Do you think investing in a 401k with a 4% employer match is a good idea? Thanks!
HELL YES! Its free money!
@@scooby1961 thanks for the reply!
who haven't seen scooby in years he looks the same -- aging well
Thanks! Thats one advantage of being ancient. Ancient + 10 = Ancient :)
Scooby, where is our black friday video? 😄 We've been waiting all year, refreshing youtube all the time! I always look forward to Black Friday, not to buy garbage but to watch you vid lol :P
LOL! Didnt do it, sorry :(
Re EMP: The very same can be said for banks and brokerage since everything is done digitally with those as well. The main protection against that is physical assets: gold, silver, rice, beans, bullets, toilet paper, etc..
Right, thats why I said for the end-of-the-world folk, gold is the investment
@@scooby1961 Hypotheticaly if that happen and electronic were gone, saveing would not matter anymore :) what would matter is survival skillset, we would become hunters and gatherers again :D
I like this vid. Good insight and some great tips.
Glad it was helpful!
Great advice. I appreciate that you say crypto isn’t worthless. A lot of folks 60+ just write it off cause they can’t wrap their heads around it. Think it’s wise for everyone to learn about proper, security, storage and management of crypto assets. Hold a small amount long. Diversify like you said.
I will be covering the reasons why older folk, even ones who are very knowledgeable about crypto are avoiding it.
I would like to add that "Retiring" kills ya. I've seen dozens of healthy working people getting depressed after retiring and dying within a couple of years. Working when you're older gives you purpose, it's not a burden, it's a life choice.
THAT, is sad. People need to cultivate their passions all their life so that when they retire, they can do them full time.
Maybe the conventional retirement. But FIRE is something else. Wageslaveing will not give you purpose in life.
They didn't pick up hobbies to fill that void. Keeping active is key!
If you can’t put ketchup on it, you don’t really own it.
LOL!
Cheers dude, noted and followed 👍
Thanks!
A lower-maintenance (not maintenance-free) way of real estate investing is to buy a newly constructed condo and make sure the rent you charge covers the mortgage and HOA fees.
Right, buying a new place means no maintenance BUT you still have to screen tenants and then repaint/clean when they move out. As far as what to charge, you can only charge what the place is worth. With mortgages now at 6%, its unlikely you could break even with a rental property now.
@@scooby1961Absolutely right! Forgot to mention I bought my condo in 2019 at half the current rate 💵
We need more vids like this
Great vid
more coming
Scooby is god
LOL! born again xtians would have something to say about that :)
Scooby lost his shirt
:(
Finance and fitness have so many parallels in terms of scams. I am sure you see the scam a mile away, it's the same thing in both domains, get rich quick , get abs quick, or make 100x your money or make 23inch biceps. Or the best it's when it's both fast and big gainz, make better abs than arnold in 3 days, make 2 million in 2 months.
Thanks Uncle Scooby - towards the end you summarise investing in a dollar cost averaging - is their a uk equivelent? or if i'm missing something perhaps there is some text on this topic somewhere
Hi Tim! In the UK you have pension plans but I dont think you can do this. You could set it up on your own though. Just set up an account at a brokerage house (Vanguard, eTrade) then set up a recurring £XXX purchase that happens at the first of every month. I like the Vanguard index funds because they have very low admin fees, VOO and VTI are the ones I like.
Thanks for your advice
You are welcome!
Hi Scooby, I am thinking of investing in real estate in Perth, as it is cheap Australian real estate. Moreover, I can get a beachside house which can also earn a lot more than standard rent as an AirBnB over 3 months during summer. You mentioned that you need to manage real estate yourself to make it a worthy investment, and since I am from Melbourne (not Perth), would that make this strategy unwise if distance is a factor for property management? Thanks
You are asking the right questions! Just because you are in Melbourne (which I love) and want to invest in Perth does not mean you cant manage it. When I said that you have to do it all yourself or everyone gets rich except you, I was referring to yearly leases. When it comes to airBnB, its a little different ballgame. Because the monthly income is so much higher with airBnB, you can afford to hire services and still make money. I would try and find someone who has purchased a place in Perth and see what their income and expenses are in the real world.
Scooby, have you heard of a teacher buying a beachfront property to rent out all summer while they travel then moving back in as school starts? Given, this would be more work, but if the teacher was semi-retired (pension,savings, etc) and purchased it outright, it would seem a sensible way. Obviously not my situation as of now, but I’d like to teacher when I am ‘retired’ (I’ll probably keep working because I like doing something, like your channel).
@@scooby1961 thanks for the advice, this gives me hope that I’m making the right decisions 🙂
I love how you're still going strong in that bare chest + hat look.
And still l doing the Peter Zane
What happens if you invest in everything. I have a house, have crypto, save every month in a savings account, have a pension, and also have a woodworking workshop at my house where I sell things on etsy and ebay. I dont have any debts or have a car - I use public transport, and my sales are collected by couriers
YOU are what happens! A true role model.
People were ready to buy bitcoin at 70k , But are not ready to buy the same bitcoins at 16k. Funny world we live in. I think putting 5-10% of your overall portfolio in bitcoin is a good way to diversify and still get a good risk - reward ratio. There is no such thing as a free lunch when it comes to investing, you are still risking money betting on bitcoin, but now is a LOT LOT Better time to be putting some money into it and holding for the long term.
Funny and true
Great video buddy!
Thanks!
I want to invest in real estate but I'm not handy at all. Don't know if I can repair every little thing that comes up in the property if I buy it.
Then DCA in the stock market is a much better option for you.
a couple down years doesnt scare me. I believe AI, automation, and robotics will help the world economy grow exponentially. With that said, I will stick to ETFs with a Vanguard total stock market index fund being my main investment ETF. I'll look into tech and AI based ETFs for a bit of risky investments. If I am feeling really risky I could just invest in leveraged ETFs, but that is RISKY with a high chance of failure.
As far as real estate I would consider buying a house or apartment, pay it off in 5 years, rent it out, and repeat. Do that for 3-4 houses, then maybe leverage a few. It's just a thought. Real estate scares me more than index funds. Best of luck to everyone.
Agree on the Vanguard EFTs, I personally like VTI and VOO.
I invest £100 a month in global index stocks and shares. It’s far safer and my portfolio has only gone up
DCA!
scooby , just a thought of a video idea, that might be up your ally, if you could do a video of bike computers, and what you recommend, and what you think of them ?
Hey scoob, have you ever had any point in your youth where you were not able to get much sleep at night? If so, did you feel any detrimental effects to your health or mindset from sleep loss?
Yes, I had all kinds of anxieties that led to sleep problems. I finally outgrew them. Your question is a very typical mind death-spiril, and one I had. Your alarm is set at 7am for work, you know that sleep is really important for your health so you are stressed about getting back to sleep. Because you are stressed about getting back to sleep, you are wide awake. Breaking that loop is the key.
Scooby, which investment index do you buy? Do you stick with the S&P 500, expand it to the U.S. Total Market with VTI, or do you have a global portfolio with international stocks through VT or a combination of VTI/VXUS?