I've Saved Over $50,000 By Age 25 - How Long Will It Take To Reach $100,000?

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  • เผยแพร่เมื่อ 23 ธ.ค. 2024

ความคิดเห็น • 261

  • @stephandden
    @stephandden  3 ปีที่แล้ว +91

    Do you think $50,000 is a lot of money?! We want to know! 🤑

    • @Sagieeee
      @Sagieeee 3 ปีที่แล้ว +36

      It definitely is a lot of money. I don’t know many people our age that has that much saved living in our city (Toronto)! A big congratulations to you! And the transparency is phenomenal! Road to $100K! 🎉🎉🎉

    • @SuperKamiNeko
      @SuperKamiNeko 3 ปีที่แล้ว +5

      I wish I had already started investing at 25. I definitely didn't have 50k CAD at that age.

    • @joshuahankins2613
      @joshuahankins2613 3 ปีที่แล้ว +8

      Not as crazy as you think when school mostly payed by parents and making 20k a year while in school.

    • @gta.girlMJ
      @gta.girlMJ 3 ปีที่แล้ว +3

      Yes it is a lot of money! Congrats Steph, you really did that 🥳 You still have to work hard and be diligent with your money to save any type of money. Thank you for sharing your journey xx (so encouraging!)

    • @Porcelynnn
      @Porcelynnn 3 ปีที่แล้ว +2

      It’s an amount some people may never see in their savings! Yes it’s a lot!!

  • @csantos1995
    @csantos1995 3 ปีที่แล้ว +71

    “I get to save money” now that’s a game changing mindset, love it !

  • @leahmcdermott4189
    @leahmcdermott4189 3 ปีที่แล้ว +174

    Anyone who claims saving $50,000 from 22-25 is not impressive is CAPPINGGG 🧢 hard 😂. You’ve done an absolutely incredible job and I’m sooo jelly! I recently turned 24 and let me tell you, I’m waay behind compared to you. I’d be laughing all the way to the bank if I had a $50K net worth, but one day! Keep on killing it! 💕

    • @stephandden
      @stephandden  3 ปีที่แล้ว +4

      Hahaha! Thanks so much, Leah! 💛✨

    • @guyaumest-pierre3662
      @guyaumest-pierre3662 3 ปีที่แล้ว +5

      Saved over 50k from 24-25 here :)

    • @leahmcdermott4189
      @leahmcdermott4189 3 ปีที่แล้ว

      @@guyaumest-pierre3662 Wow, amazing! How did you do it? 💕

    • @Los408
      @Los408 2 ปีที่แล้ว +1

      Saved 100k at 25

    • @leahmcdermott4189
      @leahmcdermott4189 2 ปีที่แล้ว

      @@Los408 Amazing? How did you do it? 💕

  • @msdwizzle55
    @msdwizzle55 3 ปีที่แล้ว +46

    I hit 50k last year before my 26th birthday. I’m hoping that I’ll hit 100k before my 27th birthday at the end of this year. The first 50k was definitely difficult. (Student loan debt, lower income, etc.) loved your video! The next 50k will come soon!

    • @stephandden
      @stephandden  3 ปีที่แล้ว +4

      Congratulations, Anne! That’s awesome 🎉🎉 & thank you!

    • @focusinvestor4787
      @focusinvestor4787 3 ปีที่แล้ว +1

      How will you make 50kk within a year?

    • @msdwizzle55
      @msdwizzle55 3 ปีที่แล้ว +1

      @@focusinvestor4787 by working

    • @Filo-cu5ym
      @Filo-cu5ym 3 ปีที่แล้ว

      @@msdwizzle55 50k in a year then you don’t pay a mortgage/rent/grosseries/go out and live at your parents. Cause living in Toronto making 116k I can’t save 50k a year.

    • @msdwizzle55
      @msdwizzle55 3 ปีที่แล้ว +3

      @@Filo-cu5ym I have my own place. I keep my expenses pretty low to be able to save that much in a year. And lucky that my investments did pretty well within the past year. Having no debt definitely helps unless I wouldn’t be able to save that much and not going out/traveling as much due to Covid.

  • @audreyguenette5101
    @audreyguenette5101 3 ปีที่แล้ว +30

    Wow 50k is a lot! Congratulations to you ! I'm 26 and i just hit 100k this month ! Keep going! You're almost there. Love your videos xox

    • @stephandden
      @stephandden  3 ปีที่แล้ว +2

      Woo that’s great, congratulations! 🎉 & thank you Audrey! 😊

    • @lilken6323
      @lilken6323 18 วันที่ผ่านมา

      Just curious if both of you guys are still here what are you guys at now 3 years later ? If you guys hit 100k yet , did it feel different and did your money grow faster after ?

  • @creatingbalancefinance
    @creatingbalancefinance 3 ปีที่แล้ว +34

    This is incredible! What an achievement by 25!! I certainly hadn’t saved that much at 25!

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Thank you! ✨

    • @focusinvestor4787
      @focusinvestor4787 3 ปีที่แล้ว +1

      I still didn't at 40 but what a crazy life I lived tho krkrkrkrkr

  • @nilommanna3782
    @nilommanna3782 3 ปีที่แล้ว +18

    I remember coming across your channel when you had just started saving- congratulations this is incredible!! 👏

  • @rochellerivera7997
    @rochellerivera7997 3 ปีที่แล้ว +24

    Wow! Never really thought about it in that way, changing that mindset from 'I want to save money' to 'I get to save money' does help in motivating yourself to save up. Some people are not lucky enough to graduate debt free, and for those that did, having the option to save money right away feels encouraging. With that said, I need to step up my 'savings' game 💪🏻😆
    Another incredible video and advance happy birthday Steph! We're actually the same age but you're honestly doing an amazing job! 😊

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Changing my mindset definitely helped me! And it’s a consistent reminder, too! Thanks so much Rochelle 😊✨

  • @charletfoster8917
    @charletfoster8917 3 ปีที่แล้ว +14

    You are Amazing 🤩 The next 50k is just around the corner🔥

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Thanks so much, Charlet! 💛

  • @sevant80
    @sevant80 3 ปีที่แล้ว +5

    Congratulation. Great achievement, you will get to 100k very soon !

  • @SaeedMohamed29
    @SaeedMohamed29 3 ปีที่แล้ว +5

    Big congrats to you Steph! I find this channel incredibly helpful, I'm always sharing your vids! Not only that, the vids are extremely relatable haha, I'm 25, from Toronto and have recently reached my $50k saved goal too! Just a few years out of university, paid off my debt and I'm on my way to my goal of $100k! love this channel, keep it up & best of luck

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you so much! And congratulations 🥳🥳

  • @Monarchy17
    @Monarchy17 2 หลายเดือนก่อน +2

    Just hit 50K at 25! I’m so happy! 🎉

    • @stephandden
      @stephandden  2 หลายเดือนก่อน +1

      That's amazing, congratulations! $100k is up next 🥳

  • @ornela2
    @ornela2 3 ปีที่แล้ว +2

    50k is def a number to be proud of! 👏🏾 I am always inspired by your videos

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much, Ornela! 😊✨

  • @kelseamcintosh515
    @kelseamcintosh515 3 ปีที่แล้ว +4

    Congratulations, this is amazing!! I also rent in Toronto, work a 9-5, and have been out of school for the same amount of time so this is definitely motivating me to keep saving as much as possible!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Kels! 😊✨

  • @dollybands9500
    @dollybands9500 3 ปีที่แล้ว +3

    Congratulations🥂 $50K at 25 is awesome!

  • @donnajones4522
    @donnajones4522 3 ปีที่แล้ว +5

    Congrats! I’ve been watching since you first started the channel and I was in high school learning about investing and tfsa 😅 I’m now 20 and I’m honestly so glad I found your channel! Thanks for being so open about your journey

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Wow, that’s so fun to hear! Thanks so much for following along 😊✨

  • @Wongoo
    @Wongoo 3 ปีที่แล้ว +2

    I think saving is a personal journey and it should be up to you to figure out the terms of your success. In my opinion I think it’s great you’ve reached your goal and hopefully we can see you reach your next one soon too.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Definitely! Thank you 😊

  • @mapete24
    @mapete24 3 ปีที่แล้ว +1

    That’s an incredible achievement. Thanks for making your channel very personal.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Marvin! And thanks for watching 😊

  • @Happygirldiary2222
    @Happygirldiary2222 3 ปีที่แล้ว +2

    Happy Birthday 🥳. You did really great ; saving 50k by 25 is not easy. When 25 I wasn’t even thinking long term!

  • @carolinea8371
    @carolinea8371 3 ปีที่แล้ว +1

    I just want to say that this is an incredible achievement in my opinion! Well done!!! I also love how clearly you’ve broken it down and how attainable it is for those of us who are working and fortunate enough to earn a decent salary/income - thank you for sharing! I’m also inspired by the fact that you have also been able to ‘enjoy’ your life as well and still buy things you want (not just need) which is important (at least to me lol) as well. I’m so excited for you, keep it up and all the best!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much, Caroline!! 😊

  • @thirteenwolfies
    @thirteenwolfies 3 ปีที่แล้ว +2

    I am so proud of you Steph! You are truly an inspiration for me! 💕

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you so much! 💛

  • @immigrant_pharmassist
    @immigrant_pharmassist 3 ปีที่แล้ว +1

    Congrats Steph! You are truly an inspiration. A gem. Happy saving and investing!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you so much! ✨

  • @adventurousbec
    @adventurousbec 3 ปีที่แล้ว +2

    Appreciated your honest storytelling approach!

  • @CarterSullivan
    @CarterSullivan 3 ปีที่แล้ว

    I had no idea you guys went to school in Ottawa, how cool!!! Loved the video as always Steph!!! Now that we've bought the house and our savings are looking abit sad this got me so fired up to hit some new milestones!!

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      We did! University of Ottawa 😊 Thanks so much, Carter!! & woo amazing - congratulations on the house!! 👏🏻

  • @OHJLM
    @OHJLM 3 ปีที่แล้ว +3

    Congratulations! I really enjoy watching your videos when you talk about savings. So far this year already I've saved more than I saved in all of 2020. Your YE 2020 saving video motivated me to cut a few major expenses and also go out and land a side project.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      That’s amazing! 🙌🏻🙌🏾 we love to hear it, congratulations!

  • @kylaagatep325
    @kylaagatep325 3 ปีที่แล้ว +2

    I just turned 21 and you guys are my inspiration with saving!! Hoping I stay on track hahahaha

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Happy belated birthday! 🥳🥳

  • @mceagle328
    @mceagle328 3 ปีที่แล้ว +4

    Thanks again for a great video Steph. You guys are so relevant for me as I'm a fellow Torontonian and youngish investor. lol. anyhow happy early bday!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you x2! 😊✨

  • @nhtathinfbntb2746
    @nhtathinfbntb2746 3 ปีที่แล้ว +4

    ive saved over 100k by 23 but with quite the sacrifices....and im not any happier than the next person, in fact im IV poor. everything is tied into investment vehicles. When all you've done is work and school every week for 5-6 years and knowing you don't want to spend any of it while making certain huge sacrifices, it becomes pretty depressing not gonna lie.

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      That makes sense - it's all about remembering why you're doing it and how it's benefiting future you. But maybe you need some balance, too! Think about what brings you happiness - and it can be not monetary, too 😊

  • @patrick_harder
    @patrick_harder 3 ปีที่แล้ว +8

    You're killing it for your age! Great motivator!

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Thank you! 😊✨

  • @shwethac5391
    @shwethac5391 3 ปีที่แล้ว +1

    Here because of your lovely Mom (she taught me!)

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Hi Shwetha! She speaks so highly of you - thanks so much for checking out the videos! 💛 x

    • @shwethac5391
      @shwethac5391 3 ปีที่แล้ว

      @@stephandden You guys have to have her as a guest on one of your videos! 💛 How to ace undergrad

  • @TheSuperHeroOfLove
    @TheSuperHeroOfLove 3 ปีที่แล้ว

    Steph so sorry that I only seeing this one! But Happy belated 25th Birthday! Hope you had a beautiful awesome day full of Love and Light!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much, Andray!! 😊😊

  • @djjdhfnfndnfjdkwj
    @djjdhfnfndnfjdkwj 4 หลายเดือนก่อน

    wow im 22 about to turn 23 next month and I had just made a plan to save 20k within 2 yrs but now u inspired me to aim higher. 50k is now my goal by 25! THANK YOU FOR YOUR INSPIRATION!!!

    • @stephandden
      @stephandden  4 หลายเดือนก่อน

      I love to hear this! You can do it! 🥳🥳

  • @chelseys370
    @chelseys370 3 ปีที่แล้ว

    That’s amazing, congrats! I appreciate the quality and information provided in your videos as well as the transparency!!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks, Chelsey! 😊

  • @Àmuh312
    @Àmuh312 ปีที่แล้ว

    Many blessings to you!!

  • @CSharp910
    @CSharp910 ปีที่แล้ว +1

    I joined the military 3 days after i graduated high school in 2016. Lived in the dorms for about 9 months and then it was time to get an apartment. I had a roommate for about 4 years so I saved tons of money. Went overseas at 22 and finally hit the $50k mark. I’m 25 now and stuck at $77k cause I’m making upgrades to my home and I travel. Goin back overseas in Jan so I’ll try to have $130k when I leave. Everyone has different situations so do what u can do !

    • @stephandden
      @stephandden  ปีที่แล้ว +1

      Thanks for sharing this! It sounds like you're doing great 😊

  • @Aswhisian
    @Aswhisian 3 ปีที่แล้ว +5

    Congrats guys! We are 27! Wife and I just hit over 375k this year! Saved my first 100k by 24 years old. You guys are doing awesome!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Amazing! 🥳🥳🥳 thanks so much!

  • @martinanatale7724
    @martinanatale7724 3 ปีที่แล้ว +1

    love this style of videos! You guys are always great :) well done Steph for reaching this target. Keep it up!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Martina! 😊

  • @stephanietyaneadeleye
    @stephanietyaneadeleye 3 ปีที่แล้ว

    You guys are amazing! Keep killing it and congrats Steph this is big!!! Do not let anyone tell you different. Thanks for inspiring me

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much, Stephanie!! 😊✨

  • @sher3808
    @sher3808 3 ปีที่แล้ว +2

    Hey Steph and Den, I don't know if you hear this enough but it's great that you're doing this channel. ❤ I hope more millennials/gen-z's get into it because financial literacy isn't often talked about enough among friends. Congrats on your trajectory and I have no doubt your success will just pile up one after another. Stay safe and happy.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much Sher - we appreciate this message so much! 😊✨

  • @aditid2772
    @aditid2772 3 ปีที่แล้ว

    Congratulations and belated Happy birthday Steph 💖

  • @marleighconnolly2777
    @marleighconnolly2777 3 ปีที่แล้ว +1

    Happy early birthday!! My birthday is next week! June babies are the best haha

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Happy early birthday to you too! 😊🥳

  • @javinx21
    @javinx21 3 ปีที่แล้ว +2

    Good for you. I’m 25, come from Mauritius, only 1 year old in Canada, still working minimun wage at walmart. Being a BIPOC does help to get jobs. Thank you for realizing how privileged you are. I am paying my loans and try to send some money to my parents when they need it. Any tips on how to get a descent Job in Canada is most welcomed.

    • @stephandden
      @stephandden  3 ปีที่แล้ว +2

      Thank you for watching! We have some videos on getting jobs on our channel that will hopefully be helpful - specifically the ‘All Things Careers’ playlist. We also have resume templates for free on our website stephandden.com, too! Good luck and I hope you get the job you’re after 😊

  • @AdonisGaming93
    @AdonisGaming93 2 ปีที่แล้ว +1

    I'm about to hit the 100k mark and it feels amazing. The only thing I would say is that 35k just sitting in a savings account seems a little high. I would add up your monthly rent, food, and utilities and put maybe 6x of that so 6months of food,rent, and utilities there and the rest invest it as well. Like for me if my rent was 1000 a month I would have at most like 10k in cashaccounts. So about 2k in checking, and 8k in Savings account. The rest all going to investments.

    • @stephandden
      @stephandden  2 ปีที่แล้ว +1

      Congrats on being close to $100k, that's amazing! 👏🏿👏🏻

  • @keshiacoriolan1045
    @keshiacoriolan1045 3 ปีที่แล้ว

    Wow this is incredible! Congratulations!

  • @ShesConnected
    @ShesConnected 3 ปีที่แล้ว

    WOW - love your channel!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you!!! 🙌🏿🙌🏻

  • @taylordawnn
    @taylordawnn 2 ปีที่แล้ว

    This is inspiring. I really want to start saving, its just been so hard with covid.. finding work and changing careers. Its just so stressful it feels impossible. But congratulations! 🥳🥳

    • @stephandden
      @stephandden  2 ปีที่แล้ว +1

      Thanks so much, Taylor! 💛

  • @wintertarzanjagrup2527
    @wintertarzanjagrup2527 2 ปีที่แล้ว +1

    People that live with parents are able to save . People that come from 2 parent houses . Privileged people . Other people are lucky to save anything . Here in Toronto there driving around in 100k cars like they are nothing . Anyways I'm happy you saved something good job

  • @randomizationme
    @randomizationme 3 ปีที่แล้ว +1

    Love this style of videos and excited for the couch. Please share the impulse purchases you made adulting too

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Cindy! Us too 👀

  • @XxLogo
    @XxLogo 3 ปีที่แล้ว +1

    First off Happy Birthday Steph! Your birthday is 10 days before mine! As far as your saving goes, having 50K by 25 is extremely impressive and not an easy feat! I just got my first job after university making $40K/year in NS (not that much, but only job I could find after Covid), and after all expenses I am not able to save a ton each month, but I try. I am turning 22 on June 13th and look forward to my future. I have my emergency fund, just a matter of saving. I do want to buy myself a nice watch first, and then pay the car loan off ASAP, but then its full force saving!
    Question for you, do you think you would be able to save this much money if you also had to pay for a vehicle for transportation purposes?
    Keep up the videos! I enjoy watching them. I am thinking of making 1 video per week for the next year starting on my birthday just to experiment, though having a hard time getting out of my comfort zone to do so lol

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Thanks Logan - and happy early birthday! 🥳🥳 that’s a great start and plan - emergency fund > debt > onto savings! Good question - I would have to cut back on something else to make that happen, but if I had to buy a car for transportation we’d either not live somewhere right downtown where we can walk right now, or I would have bought something as cheap as possible! & that’s a great idea - it’s all about getting started and just posting those first videos! We were definitely more awkward on camera at first - we look back on the first ones and laugh, but so glad we stuck with it. 😊

  • @jesseallen8534
    @jesseallen8534 ปีที่แล้ว +1

    I am nearly at the $50,000 mark however I distribution is slightly different with total of 2 1/2 in savings, couple hundred in my checking and 40 grand in investments. I am about to turn 23 in the Navy so I don’t have to worry about the day today expenses, unlike most people. I save 6 hundred dollars a month (which at the end of the year 6500 goes into Roth IRA) and invest roughly 1000 (500 in Roth TSP and 500 in brokerage) a month. My income is half that of yours.

  • @omshanti5182
    @omshanti5182 3 ปีที่แล้ว

    Good for you!

  • @briankelly1240
    @briankelly1240 ปีที่แล้ว

    That is a great amount. I paid for my university myself, and also saved up 50k probably by 27 I think (33 now). But that was saving up a huge percentage of income each month. About 40-50%.

    • @stephandden
      @stephandden  ปีที่แล้ว

      👏🏿👏🏻 amazing, that's great!

  • @freedomworks3976
    @freedomworks3976 2 ปีที่แล้ว

    Casual and chatty is good 👍

  • @wiiiz3
    @wiiiz3 ปีที่แล้ว

    925 per month on rent in downtown toronto? how is that possible? i pay $1000 just for a room in downtown toronto

    • @stephandden
      @stephandden  ปีที่แล้ว

      That's my portion! We pay $1850 total 😊

  • @cesarc2093
    @cesarc2093 3 ปีที่แล้ว

    Congrats! Just curious which camera do you guys use to film?

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Cesar! It’s linked in the description box 😊

  • @quangyung6751
    @quangyung6751 3 ปีที่แล้ว

    Hi, I cash out my 30000 tfsa mutual funds at rbc to reinvest at questrade. Should I reinvest lumpsum in some etf stocks or dollar cost average monlhly throughout the year?

  • @saulgoodman8791
    @saulgoodman8791 3 ปีที่แล้ว

    Happy birthday! :)

  • @patricia__alves_
    @patricia__alves_ 2 ปีที่แล้ว

    Sounds dumb but do you look at your investment account in terms of book cost or market value?

  • @mallikamalhotra478
    @mallikamalhotra478 3 ปีที่แล้ว

    How do you plan to invest it ?

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      We have several past videos breaking that down 😊

  • @SYDAirlineEnthusiast
    @SYDAirlineEnthusiast ปีที่แล้ว

    I had 94k saved when I was 24, though I was living with my parents, and they were funding my food while I was working on an upper five figure salary and paying for my own travels. Now, at 83K cause I am also paying for rent and flying more often.

  • @05Kate_Daniels
    @05Kate_Daniels 3 ปีที่แล้ว +6

    Congratulations! This is a big milestone and I'm sure it will feel even much better when you reach $100K. You seem to have a lot sitting in a savings account compared to your investing account and I was wondering why. Is it because you're somewhat new to investing or is it because you would like to have a bigger emergency fund? Or is it because you are aiming to buy a place very soon? I'm sorry if this is a personal question. I'm always curious to know about people's emergency funds. I can never tell if it's too big or too small...speaking for myself. You also mentioned keeping your costs low, which I fully support. But was curious with the real estate prices downtown, if the costs increase because of housing do you feel that's a good reason for "lifestyle inflation" because you are building an asset?

    • @stephandden
      @stephandden  3 ปีที่แล้ว +5

      Thanks, Kate! Good question - I’ve talked about it more in past videos, but it’s mostly because we do plan on buying real estate in the near future! If that changes I’ll keep everyone updated on the channel 😊 but I am now investing more than I’m saving each month!

    • @dwights1024
      @dwights1024 3 ปีที่แล้ว +3

      @@stephandden it would be good to consider throwing in a chunk of unused savings and drop them into mid-paying dividend stock, and earn a solid 5--10% dividend yearly. Plus those stocks would not have much capital appreciation anyways, so you can feel free to liquidate them anytime, while enjoying the high passive income yields. Look into Income funds like Canoe EIT, they pay 10% yearly, and have been paying consistently for 10+ years with rare misses. Just a thought about that rather than having it sit and losing value through inflation.

    • @BrainSurg101
      @BrainSurg101 3 ปีที่แล้ว

      @@dwights1024 but what is the risk of putting the money they are saving I. The EIT? Doesn’t that come with the possibility of drop in price of the stock?

    • @dwights1024
      @dwights1024 3 ปีที่แล้ว

      @@BrainSurg101 they're meant for dividend payments and consistent income. Let me ask you a question, what's the risk of leaving money only in savings? One word: Inflation

  • @natashaburke1500
    @natashaburke1500 3 ปีที่แล้ว

    My take away here is I pay 900 a month in Toronto for my apartment. You guys are so lucky!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      That's one piece!

    • @natashaburke1500
      @natashaburke1500 3 ปีที่แล้ว

      @@stephandden yaaaa I watched another video where you guys said 900 each. Then everything clicked haha.

  • @sabinepaley6379
    @sabinepaley6379 2 ปีที่แล้ว

    Do you guys go on vacations? How do your variable costs work? Do you just spend the 5k in your checking for travel or things like a new phone, Christmas etc?

  • @liladuran8733
    @liladuran8733 2 ปีที่แล้ว +1

    If youre spending $900/month on rent and saving $1000 that means your monthly income is at least $1900 + groceries, utilities, public transport pass or gas. Easily $2300. Just some context for someone out there wondering why they can't save $1000. Your rent might be higher or your pay might be lower.

    • @stephandden
      @stephandden  2 ปีที่แล้ว +1

      I share my income in this video - it was about $4,000 per month at the time 😊

  • @olgac5516
    @olgac5516 3 ปีที่แล้ว

    Wow that’s awesome! 🤩

  • @seraiahisrael3512
    @seraiahisrael3512 ปีที่แล้ว

    What investing platform you use?

    • @stephandden
      @stephandden  ปีที่แล้ว +1

      Wealthsimple Invest! 😊

  • @AndrewStefan
    @AndrewStefan 3 ปีที่แล้ว +1

    Great Job! Where does retirement fit into this? Is it included in your savings and investing or is it something completely different?

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Andrew! My investments are for the long-term / retirement 😊

  • @samgotjokes3381
    @samgotjokes3381 2 ปีที่แล้ว

    Hey what investing APP you use?

    • @stephandden
      @stephandden  2 ปีที่แล้ว +1

      I use Wealthsimple Invest! There's a link to it in our description box 😊

  • @almyra3575
    @almyra3575 3 ปีที่แล้ว +1

    Is it too personal to ask how/where your accounts are set up or what apps you use? Just because I bank with TD and I get charged with a monthly fee for not having a certain amount in my chequings account lol, I mean its not a lot but it definitely adds up over time. And would you recommend using a TSFA with your bank or using a platform like wealthsimple? Sorry lots of questions lol. Congrats on hitting $50k!! :)

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Hey Almyra!! Not at all, good question! I (Steph!) still use TD Bank for my checking account right now - but you're right, the downside is definitely needing a minimum balance to not get charged a fee. We have a super old video where Den talks about switching to Simplii Financial because there is no minimum balance - so that's an option! We also do recommend Wealthsimple b/c of the lower fees - I talk a bit about switching in a video from earlier this year called 'How I'll Save 60% Of My Income...'. We hope that helps! & thank you so much 😊

  • @carnellgriffinus6374
    @carnellgriffinus6374 2 ปีที่แล้ว

    What about your 401(k) that is a big line item for most people.

  • @mallikamalhotra478
    @mallikamalhotra478 3 ปีที่แล้ว

    Where should we invest in real estate during this crisis .. considering we are young love living downtown but still want appreciation.
    Thanks for all these videos they are great 🙂

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Hey Maillika 😊 In our case we'd be looking outside of the downtown core, considering the prices here aren't quite as affordable!

  • @nataliekayton1851
    @nataliekayton1851 3 ปีที่แล้ว

    I loveee this video

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Natalie! 😊

  • @cdrram9951
    @cdrram9951 3 ปีที่แล้ว

    luv ur show

  • @kunganepali1846
    @kunganepali1846 3 ปีที่แล้ว

    I have the same account numbers but switch investing with saving numbers at 20y. College is paid off due to fafsa and scholarships.

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Amazing! 🥳

    • @kunganepali1846
      @kunganepali1846 3 ปีที่แล้ว

      @@stephandden thank you! I hope to improve my income when I finally finish school in 23’. Making minimum wage isn’t ideal for heavy savings but I’m managing it super well.

  • @kevinfrederick378
    @kevinfrederick378 3 ปีที่แล้ว

    Inspiring 👍🏼

  • @EmilyIlett
    @EmilyIlett 3 ปีที่แล้ว +1

    This is sooo inspiring congrats!! I live in the U.K., am 23 years old and have saved around £23,000. I hope by the time I turn 25 I could have close to your amount saved up😍 but I’m not sure I’ll make it😂

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks Emily!! You’ve got it 🥳🥳

  • @luisroman1162
    @luisroman1162 3 ปีที่แล้ว

    When considering how much you have saved, do you also include assets/investments within your company sponsored retirement savings? (ie. 401k)

    • @stephandden
      @stephandden  3 ปีที่แล้ว +2

      I don’t have any retirement savings through my work 😊 but I would include it if I did, yes!

  • @marinaalexis4095
    @marinaalexis4095 3 ปีที่แล้ว

    I would love to know other ideas on additional streams of income? I have managed to save a lot from my 9-5. But I am not sure how I can create other streams of income.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Hey Marina 😊 It could be from social media, freelancing, part-time work, dividend investing, etc.!

  • @sidhants576
    @sidhants576 3 ปีที่แล้ว

    What kind of chequing account do you have?

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Currently just with TD Bank still!

    • @sidhants576
      @sidhants576 3 ปีที่แล้ว +1

      @@stephandden like a everyday chequing? I’m with td aswell but they charge me if I have a balance below 5000 in it

    • @shanepikelin
      @shanepikelin 3 ปีที่แล้ว

      Change to Simplii financial! Been with them all my life. Never charged a single fee for anything. Blows my mind people still would use a TD chequing with a minimum balance fee

  • @CloneSonic12
    @CloneSonic12 10 หลายเดือนก่อน +1

    I wanna spend it on a Hazbin hotel animation

  • @misscappuccino5920
    @misscappuccino5920 3 ปีที่แล้ว

    Even in my 30s I knw it’s always been in my mind about how to save money. I follow you listen to your advice. But please make a video about beginners plzz where do we start?

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Good question! We would recommend our 'How To Budget' playlist first 😊

  • @5602KK
    @5602KK 3 ปีที่แล้ว

    You went to school in Ottawa? Did you go to UOttawa or Carleton? I’m currently in my last year of my undergrad at CU

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      University of Ottawa 😊

  • @untitleds856
    @untitleds856 3 ปีที่แล้ว

    thank you

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks for watching! 😊

  • @alexdennison7552
    @alexdennison7552 3 ปีที่แล้ว

    cheers gal!

  • @ivicafrederic582
    @ivicafrederic582 3 ปีที่แล้ว

    Congrats

  • @JustBriannaYT
    @JustBriannaYT 2 ปีที่แล้ว

    I'm hoping I can do this even with loans. I'm doing it slowly but I need to be a little quicker. The rate I'm saving at isn't setting me up for the future soon enough; moving out mainly; but also the option to have kids, marriage etc. I'm getting so antsy because of age, we're the same age. Your videos are helpful, thanks so much. Just doing my best 😭.

    • @stephandden
      @stephandden  2 ปีที่แล้ว +1

      Totally get that feeling of 'running out of time'! You've got this - as long as you've set your goals and are actioning your plans to make them happen, you're on the right path! 😊

  • @protestingwithjimmy
    @protestingwithjimmy 3 ปีที่แล้ว

    I don't think you mentioned your 9-5 income in this vid (forgive me if I missed it!). Are you open to sharing that? and has it been the same between ages 22-25?

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Hey! Good point - I’ve mentioned in past videos several times but not in this one! I made $40k in my first job out of school, and I’m at around $70k now 😊

  • @sammythiongokibe1616
    @sammythiongokibe1616 3 ปีที่แล้ว

    Wow! What an incredible achievement!
    Keep it up Steph.
    2 questions;
    When acquiring real estate, will you be employing the "Smith Manoeuvre"? If yes, I'd love to know how well it'll work out cause I'm thinking of using the same.
    Also, I'm curious to know more about your investments, do you invest in Stocks, bonds, Crypto etc?

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      Thanks so much, Sammy! Good question - we don’t know a lot about it, but just looked into it a bit - very interesting! We’d have to do a deeper dive but can definitely talk about our thoughts more in the future! and you should check out our investment portfolio update videos! We share all about our investments there 😊

  • @MrGodschyld15
    @MrGodschyld15 3 ปีที่แล้ว +1

    Show us a pic of the couch! Yes it’s a lot money at that age!!

  • @cdeschamps3347
    @cdeschamps3347 3 ปีที่แล้ว

    This is a great accomplishment, congrats! Do you and Dan plan on getting married before buying property together? For legal reasons on top of everything else!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thank you 😊 not particularly, no - that personally wouldn’t stop us from buying a property first!

  • @CreateTech
    @CreateTech 3 ปีที่แล้ว

    Q&A soon!!

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      We do Q&A's on our IG pages sometimes! 😊

  • @AccentBwoy
    @AccentBwoy 3 ปีที่แล้ว

    I could of have 50k by now at age 27 but I decide to put it in the stock market

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      I have some in the market, too! Saved + invested 😊

  • @kiwi3427
    @kiwi3427 9 วันที่ผ่านมา

    whats crazy is, now, youre the oldest youve been, but the youngest youll ever be again.

    • @stephandden
      @stephandden  8 วันที่ผ่านมา

      It really is crazy!

  • @chucalissa9231
    @chucalissa9231 2 ปีที่แล้ว

    I don't see the answer from the title ✌️

  • @tylergerrard4939
    @tylergerrard4939 3 ปีที่แล้ว

    BUY BLACKBERRY BEFORE !pm today. After lunch we are headed over $21. 🚀🚀🚀

  • @alexcastro6320
    @alexcastro6320 ปีที่แล้ว +1

    I have saved 50k at 19 😂

    • @stephandden
      @stephandden  ปีที่แล้ว +1

      Congrats! That’s a huge milestone 👏🏿👏🏻

  • @rvaldes3598
    @rvaldes3598 ปีที่แล้ว

    Excellent! congratulations, it is a blessing to see young people being wise with there money. It would be interesting to see you guys invest in a home and not pay someone else's mortgage :) Than you will really enjoy the fruits of your labor, with interest :). God bless, very impressive!

  • @coryprovost2277
    @coryprovost2277 2 ปีที่แล้ว

    I'm such a fucking loser lmfao.

    • @stephandden
      @stephandden  2 ปีที่แล้ว

      Not at all! Everyone's on their own timeline 😊

    • @aleksk4151
      @aleksk4151 ปีที่แล้ว

      You are not a loser. God knows your worth . Strive for Christ and Christ will uplift you more than you can imagine

  • @TwiinStar1224
    @TwiinStar1224 3 ปีที่แล้ว +1

    Anybody who thinks $50k isn't a lot was raised with a silver spoon.

    • @stephandden
      @stephandden  3 ปีที่แล้ว

      Thanks so much for watching!! Good luck with the home buying process - we'll hopefully be doing the same 😊

  • @Leozzix
    @Leozzix 3 ปีที่แล้ว

    I’m 3 years late for start my $50k savings lol

    • @stephandden
      @stephandden  3 ปีที่แล้ว +1

      It’s never too late! ✨