I know stats can be hard to interpret since they don't tell the whole story. That said, I'm still struggling to reconcile the record debt levels, record credit card debt, rise in delinquent payments, and the record number of auto repossessions with the fact that we're seeing a record high national FICO score. How does this add up? Are they fluffing the scores to encourage more nonsensical borrowing? It wouldn't surprise me and why wouldn't they do it? Uncle Sam's already fed Pavlov's dog. One thing I know for sure: my business has seen a significant increase in homeowners unable to pay for completed work. What's even crazier is we only handle insurance-related jobs. These folks received money from the insurance carrier, and within a few weeks, they can't pay for the work done to restore their home. If that doesn't show how tight family budgets are, I don't know what does! And don't even get me started about insurance companies.... Just wow.
Nope I'm in the hole for 100.00 + robbing Peter to pay Paul....or in other words Createrative accounting.....I'm good at that....in fact I could put out a seminar.....😅😊
i totally agree that there is a certain amount of money is needed to be at level to hold your head or family above water. anything below that your drowning
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
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 Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
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.
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.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I do handyman work, my wife is the main earner in our family. My clients are mostly elderly women on a fixed income. I haven’t raised my hourly price in over 7 years and have kind of resigned myself to the fact that some of the work I do is charity because I know I won’t get paid. I have been paid in pie, homemade cookies, seamstress work, lunch and other barter type payment. These people are already on the razors edge, I worry for them.
When George Carlin said "They're coming for your retirement, they want it back!" this is not what I envisioned, but through the magic of inflation and other taxes and fees, that's exactly what it is.
Learn to cook, don’t eat out. Don’t smoke, don’t drink. People spend so much on unnecessary items. Do you need the newest iPhone? Do you need a new car? Many car repairs can be done yourself with the help of TH-cam. Don’t use credit cards if you have a shopping problem; pay it off every month. If you’re single and make more than 45k a year (roughly median), saving 1k should be simple if you’re not in CA or NY.
live together with extended families like the italians did when I was a child. when Pakistani move to Uk they all live together until they can afford to pay cash for homes or start businesses by playing cash @@wwjccsd
@@HHH-nv9xbyou know that trillion we have to fund the military that does basically nothing overall? Pretty sure if a 1/4 or even 1/3 is cut from that and funds everything else in the government: (transportation, education, healthcare) and orgs that do food/water banks, homeless shelters, and pretty much anything else that helps lesser income people, I think our quality of life will be improved by a bit. Course it needs constant funding in order to be good but I’m confident it can be done.
@@FlexedNooseI love how civilians always want beef with the US funding its soldiers and their families. So ungrateful! How about we talk about the illegal immigration funding and how we fund other countries?!
W-2 workers definitely get the weakest safety net. Wall Street, bankers, farmers and a few connected groups have a pretty generous safety net to keep the charade going.
Consumerism is such a stupid lifestyle >work hard for your money >waste it all on stupid shit >work hard for more money >waste it all on more stupid shit
@@gertrudewest4535 His $200 for 2 cheap tires is excessive. Get used tires. They're a bit more than half that. You could get a full set for your current car (if you converted to normal wall thickness rims) for around $200 out the door for all 4. At those rates, the add-ons like balancing and stuff starts to be a bigger % of the bill, but now you can afford that, too.
When my father graduated from university, his first job paid $40k, his first house cost $29k, and his total life expenses, including a car was ~$10k. He paid his house off in a year. Now decades later I make the same money as he did, cant afford a house, cant afford a car, work 60 hours a week. Miserable life.
The sooner people realize that ALL government, no matter the country and no matter the party, are working directly and indirectly against the people they govern the sooner we can move forward as a species.
Try some rice season some beans and top it with pico and that’ll have you feeling satiated or a meat, eggs and potato’s for breakfast cheap and filling with the protein
My pension was loosing 3% pa, so I cashed it in, but then had to pay tax because it was over the limit. My accountant said I was still better off the loosing the 3% (or possibly more p.a.) Couldn't trust anyone else to re-invest it so just kept it in the bank at no interest. 😒
@OMGAnotherday spend a good 10 hours studying Bitcoin. If it intrigues your interest, spend another 100 hours. Eventually, it clicks, and you'll see that it was the solution all along.
I think technological efficiencies have changed the world. Less work needs to be done and basic income maybe the solution. These efficiencies have benefited the rich while pushing prices for the bottom 50 percent making them poorer.
@@er98ah richer get richer, for they spend money to make more money, wish then leaves general less money on the flow pool, wish Leeds needing more currency causing debt or printing, wish causes inflation, wish causes a loss value to the already money in circulation, wish causes the poor to have less money, wish causes them to be in debt, and leading to even lesser money has they go into debt, wish then they work more and , the more they work both their labor and spending gives money to the rich, the poorer gets poorer and it repeats all over again. Am im wrong?
Agree 100% the 1 Million dollar question is, by who? The FED!!! Yup! the same people saying they are fighting inflation are causing it. The FED has pumped Trillions into the Stock and Debt markets since 2008 propping them up. The FED is currently working overtime pumping money into the debt markets keeping the 10YY falsely stable. This is all going to come crashing down. The move? I personally have a lot of my cash turned into G&S (and lead and food) as well as taking advantage of this situation and investing into dividend paying ETF's like JEPI and JEPQ. If the FED is going to pump the markets, may as well play along. Oh and to add, in Nov 2020 I saw this mess coming. I put my head down for 18 months, did nothing, worked 100 weeks grinding hard, my goal? 100% debt free. I am there! No mortgage no CC debt no car loans, everything I make, I invest and turn into G&S. I am sitting and waiting patiently for the RE market to crash again so I can cash out G&S and dive in hard.
Ever since 2008 they created these precary jobs, these zero hour jobs, week contracts, temp jobs of a few months. All fixer uppers for the job market. Obama jobs, I call them. Or here in Europe, I call them crisis jobs. I observed the economy ever since 2008 and the problems now are still due to decisions made the . And banks still make stupid decisions every day. Too busy green washing and giving just as many loans as ever.
Eliminate smoking, alcohol, weed, gambling. Cut the cable cord and watch free streaming only. Keep electric and gas usage to minimums. Make a budget and don't go over it. Good luck and God bless.
correct. we have no mortgage no loans. 3 new cars 200k in the bank an investments. i spend nothing year to year. no drinking no smoking. nothing. we drive a nissan leaf. most people with no money will always be broke even if you gave them 1m dollars. year later it would all be gone. u give me 1m dollars that would be 2m a year later.
You forgot to list the biggest addiction of all: food, specifically take out and eating out. Or just living "high on the hog" at the grocery store instead of hitting up the 5lb bag of rice, 5lb bag of potatoes, 5lb bag of beans. No doubt you are addicted or you would have listed it.
@@greeneking77 i live on 100 usd a month on food. i'm strict vegan and live on very basic food. always have done. let me put it this way how carefull i am. i've been on holiday last 5 weeks and spent 3usd on myself on luxeries. i live the most basic life you could ever imagine. that's why i have money. i never ever waste it.
@@blackworldtraveler3711 right? I live in a small suburb outside of San Diego. It is not uncommon for me to see folks driving 100k plus cars and the houses are like a million dollars now. So I really wonder what the hell a lot of these folks do for a living. What I really think is, like you said, most folks are living WAY outside of their means and are about to lose everyting and then some. When events like that happen, that is a buying opportunity for those who are patient and in the know. The only way to be in the know is a massive amount of effort both in knowledge and work to discover what the real truth is. For example housing IMHO is about to take a bath. The builders have over build. To know we can watch expert folks on TH-cam that cover housing, you see thousands of houses that are complete or almost complete and no one is in them (FL and TX this does not apply to all markets). In addition to that the home builders are offering 3 or 4% interest rates... when the going rate from a bank or lender is 8%. So that means they are trying to unload these. Once folks figure that out and that there really is not a housing shortages at all but an affordability issue... housing prices are going to crash. Put that along with unemployment going up at a much faster pace and folks will be losing their houses, folks that bought the top (say within the last 2 years) are going to be underwater on their mortgages and are going to walk away, just like they did during the GFC. This will increase the supply side and drive housing prices down even further. Now add the folks that are way over leveraged and way in debt ... that is just going to make things even worse. This is not just going to happen in the housing market, this is going to happen in all markets. The stock market and the bond market does not get a pass. Which means that Americans are actually worth half of what they think they are and things are about to get really nasty. Could I be wrong? Of course but how many people do you know that have read over a hundred books on this stuff and trades the markets all day long? I know way more thatn 99% of all the finaical advisors out there and to prove it.. today was the worst day in the stock market since 2022. I made a crap ton of money today. Not to boast but I need to put some credabity to my statement otherwaise people would just think I am a crack pot, perma bear, doom and gloomier. No I am not, I am happy to make money when the markets are going up too. In fact would rather that because that means things (economy, folks etc) are doing well but I make money 3 times faster when the markets are tanking. Regardless I think what comes next is a liquidity, collateral, and debt crisis all at the same time. So the Great Depression, the Dot Com Bubble, and the GFC all rolled into one... but to make it worse the debt level for everyone, civilians, government, buisnesses etc are at crazy all time highs. That will make it a Great Depression 2.0 on steroids and I don't think folks are even remotely prepared for an event (once in a 100 years) that I think we are about to get. Lets hope I am wrong. But I have 50k short on tripple inverse ETFs (for the NASDAQ and the Russell) that says I am not. If I had 100k that would be there not just 50k. So I am putting my money where my mouth is. Not just talking about things. I have been trying my best to warn as many folks as I can to get ready, not to alarm but to prepare. We are all most likely going to have to buckle up real tight and hang on for dear life.
I love the mid-century modern homes in your background. During the 2008 crash, I lost everything including my family via a divorce. I promised myself I’d be better prepared if and when it happens again. I’m good right now.
Well done, plenty of us that have been burned previously, so while the economy is doing well we're saving like crazy. The stress of heading towards homelessness is something I wouldn't wish on anyone.
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
My CFA ’ANGELA LYNN SCHILLING’ , 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.
My parents raised 6 kids back in the 50s thru the 70s and I heard them once say, " If we had credit cards when we had all those kids we would probably be in debtors prison" So much free fun back then. No fishing license needed to have fun all summer. I also fed and cleaned a barn full of horses with other teen girls and got to ride for my labor. It's harder on families now.
Me and my family are so broke now. We have taken in 2 relatives who are out of work but my wife may also lose her job soon. We are still a ways from being homeless but it's not unthinkable in the current economy.
Tell the able bodied people just get A job even if it's not what they want. Something is better than nothing. Plus if it's a burden on you. Tell them you're broke and helping with food and utilities will help you keep the house. Possibly pay small amount of rent.
I think way too many people are still living in a fantasy land where they think they are entitled to paying someone else to do everything for them. I hear people talking about being worried about losing their house yet they still getting doordash.
Even my precious pets are feeling the difference. Less treats, less grooming.. it's sad. Very sad. Kill shelters are euthanizing animals in record numbers. Puppies too. I know pets is off this topic but my heart breaks that this economy also is affecting innocent creatures too. 💔
I've skipped taking my cat to the vet for her vaccines and checkups. I pray she'll be fine. I had a cat live to 21 without shots and the vet for her last 16 years.
@@betsybarnicle8016 Animals do a pretty good job of healing themselves. -But just in case, you might research the non-profits in your area that provide $$ assistance for pet care. Some agencies raise funds to assist pet owners, but then when a person applies for help, the agency has a reason to deny the request. So, ...go figure. ???
@@betsybarnicle8016I don’t buy all that vaccination stuff for cats. My four cats were originally vaccinated when I adopted them, and have not been to Vet since. Ages 14, 11, 10, and 9. Only took to doctor for respiratory infection.
If you're a family of four making 31,000 per year it would have a huge impact on their financial lives. That's a 33% pay increase which in anybody's book is a massive pay raise.
Well lets raise it to 5k then. Regardless it is the ability to take on an emergency without having to put it on a credit card. If you use credit cards that way you are not fincailly stable and doing so is making you go backwards not forward. Which I think is the point. Better than all that how about having the ability to turn 1k into 10k? How many folks do you know are like that? That is the real trick.
Been living below my means my whole life . I live here in the Bay Area , found a great little place to rent that met most of my needs and just worked around the rest . It’s that simple get as close as you can to what you need and adapt. I have had tons of great experiences and have had all the cool kid toys , motorcycles , boats , cars and trucks . All while making sure to save every day . Pay cash for toys , never go in debt and stop trying to impress people .
I try to remind myself it isn't anyone else's fault that I am broke tired and angry all of the time. I was born Into poverty. Generational. My dad was an abusive drunk, dead, and my mother ran away when I was very young. I raised myself from age 14 on. Forever Poor.
Keeping up with the Jones’s has a price. Dont worry about what others are buying and the trips they are taking. Pay your bills, get the food you like to cook, and maintain what you have. Think of what your grandparents did.
Don’t fall for it people, they want you to get into the habit of seeing withdrawals from your pension fund just before they start withdrawing from the pension funds too! Go get a weekend job, make cuts at home, take a cheaper holiday, don’t go robbing your future self.
I just had this exact converstation with my wife yesterday. I love her dearly but damn if she doesn't fight me on robbing from our future self. Luckily I figure out a way (has taken years of sacrifice and dedication and yes some loss) to make really good money as a side hustle. And that is really important becasue this side hustle works no matter what is going on. My real goal now is to get the house paid off as fast as I can. I am close only 3 years left. I feel very blessed for that.
@@bpb5541 401k's are all about to go 50% negative anyway, with deflation and asset value crashes, you do understand that cash goes up 50% in value, correct?
BIG LOTS closing all over CA. It's cheaper than the dollar stores. I paid off all debt during pandemic and live below my means, trying to make my money last into my '90s.
They want to destroy the monetary system completely and install the bête system. Do you think the controllers will give the equivalent of what you had in savings? Do you?
Our country has abandoned the lower working classes. They reward the wealthy and well born. It is a shame. Governments should ensure that the disenfranchised, who work diligently throughout their working lives, have a nice retirement. Seems that the great reset plan has no room for them. Shame.
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
The rich don't care about a credit score. They are their own bank. Think about it. Almost ALL debt is bad debt. The only exception is if you take out debt, and that debt makes you money. This is dangerous as most are not able to do this with any degree of constancy. If you are one that can. You get to use the 2nd rule that makes the rich even richer... which is using other peoples money to make you money. The first rule of course is using other peoples time to make you money. Poor and Middle class do not think this way.. which is why they will continue to be poor and middle class. Its a shift in mindset. One that most don't ever do. You might be born into a rich family and it is already instilled in you or you have to learn it. How do you learn it go hang out with rich people not middle or poor class people. Rich people love to talk about how they are making more money.
I was laughed at and called stupid for doing things like avoiding debt, paying cash for everything, paying off 30yr mortgage in nine years,buying smaller home,used car,etc… Also nagging me about how wonderful “good debt” is. Don’t think I will be hearing from them anytime soon.
@@blackworldtraveler3711 well done !!! No take the money you have that is not going towards debt and figure out how to make money off of that money. Then you are free.
Yet everywhere i go places are packed, air travel has never been busier, roads are constantly crawling. The spending and consumption keeps going up up up. Everyone seems to have endless time and money to burn. I just can't figure it out.
Some of us are debt free,saved ,invested,and always lived within means avoiding debt. No big homes,new cars,and kids we can't afford. No garage full of junk,eating out,fast food everyday,etc...
@@blackworldtraveler3711yeah some, doesn’t explain the rest that are out there consuming more more and more, the roads with traffic crawling and airports where you can barely get around.
It’s a social thing in my neighborhood. Hang out with friends and neighbors now and then. No drive thru and has a large fireplace. I live within means and a saver/investor since 15. Always avoided debt. So instead of new cars,payments,credit card debt,too much home,spending money I don't have,etc. I prefer saving,investing,living within means,used car,zero debt,small home,and spending cash. Also a shareholder since mid 90s and earning great dividends so ironically Starbucks pay for my stuff. A $6 cafe mocha is no big deal.
I don't even drink coffee. I can drink whiskey and gin at home for $3 per drink. It is extremely expensive these days to do social drinking, even coffee LOL!!
How nice of them to allow these struggling people to start using up their retirement money, which is now worth half of what it was 4 years ago! Basically they are removing all the life boat's from the sinking ship!!
Yeah, on top of all those "cash out refi" commercials out the wazzoo. I couldn't think of a worse time to leverage your house than when you're already broke.
How can you say that people's retirement accounts are now worth half of what they were 4 years ago??? Have you seen the stock market recently? The S&P 500 closed at 3215 on 7/24/20. Today the S&P 500 is at 5356. I guess I agree that it's a dumb idea to allow penalty free withdrawals, but most retirement accounts should be worth more today than they were 4 years ago.
@@jeff.0-3 The value of the dollar is plummeting and inflation has eaten the gains and then some. Plus if the market finally corrects(and I bet it will happen in trumps first year if he gets re-elected) that paper value disappears.
Life has gotten so tough lately. My mum has been saving for years and now she’s confused about what to do with her $280k savings. The economy is so unstable, and she doesn’t know where to invest it to ensure it grows safely. Any ideas would be appreciated.
I totally get it, LarsBergstrom. My parents are in a similar boat. It seems like everything is so risky right now. We’ve been looking into diversifying into real estate and some conservative stocks, but even those feel uncertain. Has anyone else found a good strategy?
I’m in the same situation, and it’s really overwhelming. I’ve been trying to learn more about different investment options, but it's hard to know who to trust. Does anyone have any advice on making informed decisions in these times?
Don’t go to college if you can’t afford it. A bachelor degree should be free in this country since it’s about as valuable as a high school diploma. So it’s a rip off. Everyone needs a job and to create a system that places interest rate debt on you just so you can get a job is predatory. Especially on people and the families who come out high school poor. An education after high school is supposed to make it where you can get a good paying job but that’s not the case anymore.
Depends on your major and where you go to school. Accounting majors graduating from regional public universities start at 60-75k (frequently more with bonuses, etc.). The CPA firms can't find enough skilled accountants. Salaries are going up; however, the profession requires hard work, long-term planning, and consistent skill development (AI, etc...continuing ed. requirement). These jobs have a long-term future if you work hard and smart. Same thing in nursing. Go to a good regional College (or Community College) and learn a skill. BTW, many professional firms (e.g., CPA firms) offer internships to competent students. This practice enables students to graduate with experience and income. Entrance and advancement into any skill-based profession, however, require patience. Don't just look at the starting salary. Try to see where the profession you are considering (they are all rapidly changing) is going and where that fits your own skills and interests. Finally, I used the four-year College degree in accounting as an example (since I have been involved in accounting education for a long time). However, the same principles (good training, consistent skill development, hard work, etc) apply to all great professional fields (all health professions, law, engineers, electrician, plumbing, mechanical fields,...you name it.). A four-year degree is a requirement for some, not others. Ultimately, skill development and experience are the keys to advancing in the great profession. So, in many situations, a 4-year degree is not required. It all depends on the profession and, your interests.
THIS CONTENT NEEDS TO GO VIRAL ASAP. YOU ARE SPEAKING FACTS. The real struggles Average Americans are going through. The economic reports we see are not real.
Been saying this and people look at me like this…😳. All while saying the economy is the best it has ever been, yet they do not have $1000 in case of emergency. He is speaking facts
Been saving for 50 years, glad I am not in the same boat with these people and many of them thought they would be able to live on a social security check, mom told me many years ago that social security was started in 1935 by Franklin Roosevelt to supplement your income, it was NEVER intended to live off of but it is amazing how many people don.t know this.
@@gsst6389 I learned a long time ago that the only way to fix a money problem is to figure out a way to make more money, part time job, start a small business or sell items on online, do whatever it takes and best wishes to you!
Your 1st mistake is to have money in an IRA so that the government can be your business partner. I got out of this system within 5 years of my retirement 10 years ago because I did not want the IRS to have a 50% stake in my bank deposits. Own metals and keep 100% of your money under your control.
Well when u sell the metals that triggers a sale and any profit IRS is owed...I also own metals but have yet to sell. Maybe if one sells a small amount one can go under the radar
I have way more in metals than anyone has any rational right to have so maybe 40% but with that said silver is still well under $20 from its high which was decades and decades ago. Gold which I'm quite familiar with and is the metal that I own, a ton of it" has to at least be understood as a very very speculative investment. It is not safe and it does not always do what people think it will do which is to mark inflation. Gold today unlike 30 years ago when I got in is currently being completely controlled by hedge fund managers that buy the paper and they're all in cahoots together and they dump all at the same time. You may remember 2011 where gold was $2000 an ounce. It then quickly fell to $1000 an ounce that's a 50% correction and it took 10 years for the breach 2000 again so was that a good investment for the guy that bought it at 2000 and ounce. I don't think so. It's a 2400 but come back to this post in a month or two and I bet you will see gold trending at or below $2000 per ounce as hedge fund managers are poised to dump the paper gold onto the market in droves. For me it doesn't matter I don't need the money but I would not advise people to be buying gold at this lofty price point. They very well may see their investment drop from $2400 an ounce which incidentally is falling rapidly today to a 20% loss or correction. Gold has had massive corrections of well over 50%. You may remember in 1981 gold was priced at $850 per ounce. Now 20 years later in 2001 literally 20 years later gold was at $250 per ounce. So the guy that bought gold in 1981 was down a whopping 75%. Point is gold is not a safe investment it is as wildly speculative as bitcoin or any AI stock and people should not kid themselves.
I'm so happy we live below our means. I was approved for a much larger mortgage but so glad I didn't take it! Live simply and modestly, pay off your cc every month, and make sure put money away every month in an interest bearing account.
This is the way. It’s tough listening to people say they’re having a hard time and then watching them eat out all the time, drink beer and drive a car they can’t afford. If you’re spending all that you make then you’re living above your means. Don’t do it and things turn out alright more often than not.
You're totally right. Last week I got an automatic email from my cc company, yelling at me because of a purchase glitch (it worked fine when I tried it again). But THIS week I got a new email from them, proudly announcing that they'd raised my cc limit by a significant amount. They clearly want us to end up facing huge future bills, and the bigger the better.
Been broke so long I’m numb to the pain, grew up thinking this world was a nice place but I’m at that point in life now where I enjoy nothing besides the odd meal. It’s desperate times for so many out there.
The one thing when I was younger is being told and seeing my elders when they got to retire. Now that I have I’m beginning to wonder if anyone other then the richest people are going to make it
Some guy posted a TH-cam short on here showing a Walmart order he had from 2019.. it was a dozen or so household items and the total was around $140... well on Walmart you can hit a button to "Order Again" and reorder that entire shopping list... it was over $400 when he did that. That's wild.
@@jonathantaylor6926 Walmart said it is because many of the items were no longer sold, or had cheaper substitute items since that time. Make what you will of that.
If you take that $1000 out, it is counted as taxable income. The only thing the government is doing is waving the 10% penalty. There has always been emergency withdrawal of loans allowed against your 401K money. Obviously, its best to never touch 401K money until you retire.
The real trick is to be able to make so much money that you really don't mind paying taxes. I mean it sucks but with a crap ton of money and the ability to make more. Who really cares? This is what I am working on. That way when I do I can help others get to that point too.
@@bpb5541 Agreed,...that is like retirees complaining that RMDs will push them into a higher tax bracket. Ask the majority of people on the street if it is a negative that having so much money MAY have tax consequences.
@@Tonymanero1960 That’s why I only contributed to aftertax and Roth in my 401k though my career. I planned to retire 15 yrs early in 2020 so ACA and IRMAA income limits was also part of my due diligence along with RMDs. I’m good.
People are tapped the f out! I have a decent savings, but everybody seems to be listing their "toys" for sale on different marketplaces. So many cool sport cars, classics, arcade/pinball machines getting listed daily. I'm tempted to buy some of this stuff but this also shows me that people are selling this stuff because they're again..tapped the f out!
In my area the classic muscle car era cars are still listed for ridiculous prices , cars that look beyond saving are going for what nice drivers went for ten years ago😢
Some of us are responsible with money. Yes I CAN write a $1000 check and it wont bounce nor negatively affect us. Low mortgage payment and bought an bike instead of a car, we put saddle bags on it for grocery shopping.
*Especially the ones working for cash under the table and getting food stamps, welfare and other free (to them) handouts courtesy of working taxpayers*
@@breadnaut3087 highly doubt the people without a saving account have something like gold. A decent amount have stocks which is fine so long as they don't panic sell in a crash (most people panic sell lol).
My best friend has had to take out $15,000.00 from her small retirement fund, as she’s been without a job for almost a year, with nothing in sight. She is in the animation industry in LA. She was told that she can’t start getting unemployment until October, because the state of California currently has too many people on it, snd the state can’t afford for everyone who needs it to be on it at once. Craziest thing I’ve ever heard!
@@darrelldarrell1447 100% true, if you're just talking the robotic part of production. But if she can also create new characters and develop them correctly, that makes a big diff.
The state of California is lying to your friend. The truth is that California cannot afford to pay unemployed workers because they are going broke paying lifetime free ride pensions to retired workers. California has 82 different free ride pension funds currently. That's where your friends unemployment money is really going. So thank all of the retired workers and senior citizens who all want a lifetime free ride. Check out Californias unfunded pension fund liabilities for yourself
They want us to burn our retirement savings. During COVID they let Aussies withdraw up to $10k of their superannuation. Paying $3k straight up in tax left them with $7k to pay their bills. Many fell for this trap.
@@cyrusm3391 IMF, WEF, Central Banks, Wall Street, Rockefellers, Rothschilds and all their holdings, the govts they control. Get with the program. Its a rigged game and the House always wins
Inflation. Thinking about how much prices have increased just in my lifetime (60 years) makes me sick to my stomach. There's a miniature war game that I enjoy playing. It was discontinued in 2010, but a company is trying to bring it back. It's now 5 times more expensive ... in just 14 years. Insane.
I'm glad my mom made us learn "saving" at a young age. We had to save a percentage of our chore money every week. It was annoying as a kid but that habit has come in clutch as an adult.
Would not be surprised if a county worker relative lives in the house where the taxes decreased by over 80%. Not surprised by the corruption in our government, especially in California.
And if you are broke, there you are again. So really the trick is you.. the issue is with us not anyone else. But we sure do like to blame being broke as shit on anyone but ourselves. Which I find amusing.
The government could give two turds about 'helping' you. They are so short of tax revenues, they need the taxes you'll owe, now!!! Here's a tip......don't buy crap you don't need!!!
taxes i owe...? i always pay them. if i was one of the very rich i wouldn't be paying sweet fa. i wouldn't even have to pay capital gains - all the loopholes placed there deliberately for very well-to-do people. leona helmsley was right: only little people pay taxes.
@@Scriptorsilentum Oh, I remember this very clearly! This is when Ronald Reagan was shifting the tax burden from for the wealthiest top 1% to the middle & working classes. It's very true, from the 80s on, taxes are for the little people. Leona was so right! In 1980, Reagan shifted us out of Keynesian & Adam Smith economic models America had been using for decades to neoliberal economics. The highest income bracket was 74% & the corporate tax rate was around the same, 74%. Reagan cut them down to 28% and 25% respectively. The tax breaks were supposed to trickle down...instead the country went into a recession & Reagan ended up taxing social security income, interest on car loans, credit cards, tips and all sorts of other goodies the middles class was able to take advantage of. Yes, he wanted to make America great again, like it was from the 1880s to 1933 right before FDR turned the United States into a communist nation. Reagan liberated us from the tyranny of Alexander Hamilton's Manufacturing Plan, FDR's New Deal & Keynesian Economics. I remember what life was like before the 1980s. It was awful and brutal! I mean, there were like no homeless people. One parent could earn enough money that the other parent could stay at home & take care of the children, while being able to buy a home in a decent neighborhood, without even having a high school diploma. This parent was able to take the family on vacation every year & buy a brand-new car every two years while putting their kids through college. It was insane!!! I still get flashbacks. The newer generations just don't understand how good they have it now.
No debt and bare bones minimum it still can. Low cost of living is the trick. No mortgage, rent, cable, or expensive car payments. No college loan debt. Grow your own food as much as you can and DIY EVERYTHING.
@@googleuser868 you are living in a fantasy land sir. No mortgage? No rent? Most people are not in that position. Just food costs are around $300/month for one person where I live. Maybe people can go back to the agrarian lifestyle when everything collapses.
@@Ziegfried82 1/3rd of american hownowners have no insurance. ALL of them own their own house outright. 40% of americans own their house with no mortgage. That's 33.3 MILLION homes. Not a fantasy. Just reality. And $300 for food for one person? Only in cities where $100k is considered starting wage, or you're eating out every day.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
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 is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
Exactly. I marvel at how many new $50k plus SUVs are in our neighborhood. Most well above that price. I’ll keep my 14-year-old car running for as long as I can.
@@sycamore2789 AND government. If you haven't figured out by now that corporations, banks, and governments are all in cahoots, I really don't know what to tell you.
THOUSANDS OF Real Estate Agents ARE GOING BROKE! th-cam.com/video/wpRoleLvSws/w-d-xo.html
I know stats can be hard to interpret since they don't tell the whole story. That said, I'm still struggling to reconcile the record debt levels, record credit card debt, rise in delinquent payments, and the record number of auto repossessions with the fact that we're seeing a record high national FICO score. How does this add up? Are they fluffing the scores to encourage more nonsensical borrowing? It wouldn't surprise me and why wouldn't they do it? Uncle Sam's already fed Pavlov's dog.
One thing I know for sure: my business has seen a significant increase in homeowners unable to pay for completed work. What's even crazier is we only handle insurance-related jobs. These folks received money from the insurance carrier, and within a few weeks, they can't pay for the work done to restore their home. If that doesn't show how tight family budgets are, I don't know what does! And don't even get me started about insurance companies.... Just wow.
Nope I'm in the hole for 100.00 + robbing Peter to pay Paul....or in other words Createrative accounting.....I'm good at that....in fact I could put out a seminar.....😅😊
@conniepitts8392 since you robbed peter to pay paul, now that hes paid, maybe paul can lend me money I owe peter.
abt the study...the poorest of the poor spent more because their rent rose while the next level up could could actually afford a mortgage.
i totally agree that there is a certain amount of money is needed to be at level to hold your head or family above water. anything below that your drowning
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.
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 Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Saw this a long time ago and it stuck with me.
“A thousand dollars isn’t a lot of money to have but it’s a lot of money to owe”
Keep us down for forever
Sure is!!!
Real talk.
A thousand dollars is a lot when you have 0.
@@christineschutten248 trust me I know what you mean. Money is transparent yet necessary I hate it here.
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.
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.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Who is this person guiding you and how can i reach he/she?
Sharon Ann Meny is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I do handyman work, my wife is the main earner in our family. My clients are mostly elderly women on a fixed income. I haven’t raised my hourly price in over 7 years and have kind of resigned myself to the fact that some of the work I do is charity because I know I won’t get paid. I have been paid in pie, homemade cookies, seamstress work, lunch and other barter type payment. These people are already on the razors edge, I worry for them.
That's amazing, we need more people like you. Thank you.
That's very kind of you.
St Joseph worked similarly. You will be blessed
God bless you 🙏🏾
Seamstress work seems a good deal.
Have a few good pieces of clothing adjusted or made.
I’m so broke I can’t even pay attention
😂👌
😂😂
Great comment lmao
That's funny I'm not broke
W
When George Carlin said "They're coming for your retirement, they want it back!" this is not what I envisioned, but through the magic of inflation and other taxes and fees, that's exactly what it is.
Inflation is the one tax that everyone has to pay.
Money printing has consequences.
"And if you think there's a solution, you're part of the problem." ~ George Carlin
Who exactly is they?
They made it to where you can't save your way out of the rat race.
@@cyrusm3391 Wall Street.
For everybody in the chat who says $1000 is nothing, just pass your "nothing" onto me
That’s how money works. Easy to spend, but hard to earn.
@@pinschrunner - 🤣
Learn to cook, don’t eat out. Don’t smoke, don’t drink.
People spend so much on unnecessary items. Do you need the newest iPhone? Do you need a new car? Many car repairs can be done yourself with the help of TH-cam. Don’t use credit cards if you have a shopping problem; pay it off every month.
If you’re single and make more than 45k a year (roughly median), saving 1k should be simple if you’re not in CA or NY.
live together with extended families like the italians did when I was a child. when Pakistani move to Uk they all live together until they can afford to pay cash for homes or start businesses by playing cash @@wwjccsd
@@wwjccsd Thats correct. Btw where are poeple on streets on this video?
America puts its citizens last!! 😢
Got to find ways to squeeze more tax dollars to fund the government.
@@HHH-nv9xbyou know that trillion we have to fund the military that does basically nothing overall? Pretty sure if a 1/4 or even 1/3 is cut from that and funds everything else in the government: (transportation, education, healthcare) and orgs that do food/water banks, homeless shelters, and pretty much anything else that helps lesser income people, I think our quality of life will be improved by a bit. Course it needs constant funding in order to be good but I’m confident it can be done.
not with Trump
@@FlexedNooseI love how civilians always want beef with the US funding its soldiers and their families. So ungrateful! How about we talk about the illegal immigration funding and how we fund other countries?!
W-2 workers definitely get the weakest safety net. Wall Street, bankers, farmers and a few connected groups have a pretty generous safety net to keep the charade going.
They want a bunch of broke robots living paycheck to paycheck.
They already have that.
Consumerism is such a stupid lifestyle
>work hard for your money
>waste it all on stupid shit
>work hard for more money
>waste it all on more stupid shit
"Obedient Workers" - George Carlin
Our schools teach kids how to be test takers , not to learn anything to be able to think for themselves
@@cjhoward409Those in charge don’t want critical thinkers.
Nowadays, $1,000 is 2 cheap tires, an oil change, and 3 days of groceries 💀
But that’s exactly what some people need.
Huh? My last set of tires cost me $1000
Accurate, unless you get used tires, which are a better value. (Don't go to chain stores to get them.)
@@gertrudewest4535 His $200 for 2 cheap tires is excessive. Get used tires. They're a bit more than half that. You could get a full set for your current car (if you converted to normal wall thickness rims) for around $200 out the door for all 4. At those rates, the add-ons like balancing and stuff starts to be a bigger % of the bill, but now you can afford that, too.
@@gertrudewest4535 And P.S., thank you for adding to the supply of good quality used tires.
When my father graduated from university, his first job paid $40k, his first house cost $29k, and his total life expenses, including a car was ~$10k. He paid his house off in a year. Now decades later I make the same money as he did, cant afford a house, cant afford a car, work 60 hours a week. Miserable life.
29K for a house?! 🤯
That sounds amazing wow
@@Meerkat17 the houses on the street sell for $350k+ now, most are rentals for $1600 a month.
@@maladyofdeathI'll never be able to afford a house which should not cost 350k
The sooner people realize that ALL government, no matter the country and no matter the party, are working directly and indirectly against the people they govern the sooner we can move forward as a species.
News Flash: your vote doesn’t matter. Voting your way out of a corrupt government is an analogous to digging yourself out of a hole.
True, but they are working for some people-the uber wealthy.
Yeah, end the FED.
@@normangoldstuck8107 those people aren’t governed. Rules for me but not for the
@@outtahere321 the FED can not be ended. Despite the name there is nothing Federal about the fed. It literally has a private board of directors.
It sucks working everyday , pay bills, pay mortgage, and sit in the house hungry. A pack of noodles is dinner
Keep eating just noodles and you’ll be visiting the Dr. Health is wealth. Take care of to body first. Grow a garden first before buying noodles
I know how you feel. Senior citizens are robbing social security while the working people barely make rent or starve. They don't care about you or me
Try some rice season some beans and top it with pico and that’ll have you feeling satiated or a meat, eggs and potato’s for breakfast cheap and filling with the protein
I just had chicken. Pork chops and steak thawing for tomorrow. Yum yum
@@fishingangler4315 I had a steak last night l, it was delicious 🤤
Chances are if you don't have a 1000 dollars you more than likely don't have a retirement account to pull money from
Thank you for saying it.
It’s such a typical US government solution: cobbled together with all criteria to jump through.
Nope. But I have a $95,000 year pension with cola for life beats all 401ks
My pension was loosing 3% pa, so I cashed it in, but then had to pay tax because it was over the limit. My accountant said I was still better off the loosing the 3% (or possibly more p.a.) Couldn't trust anyone else to re-invest it so just kept it in the bank at no interest. 😒
@OMGAnotherday spend a good 10 hours studying Bitcoin. If it intrigues your interest, spend another 100 hours. Eventually, it clicks, and you'll see that it was the solution all along.
And if you do, you're probably in the worst position to lose $1,000 from your retirement account (because it's probably small).
I’m so broke , I go to KFC and lick other peoples fingers.
Ha ha ha.😂
lol 😂
The nation is so broke that I can go to KFC to get my fingers licked.
Not funny❗😳
Gross
Nailed it. The economy is being FALSELY held up!
I think technological efficiencies have changed the world. Less work needs to be done and basic income maybe the solution. These efficiencies have benefited the rich while pushing prices for the bottom 50 percent making them poorer.
@@er98ah richer get richer, for they spend money to make more money, wish then leaves general less money on the flow pool, wish Leeds needing more currency causing debt or printing, wish causes inflation, wish causes a loss value to the already money in circulation, wish causes the poor to have less money, wish causes them to be in debt, and leading to even lesser money has they go into debt, wish then they work more and , the more they work both their labor and spending gives money to the rich, the poorer gets poorer and it repeats all over again.
Am im wrong?
Agree 100% the 1 Million dollar question is, by who? The FED!!! Yup! the same people saying they are fighting inflation are causing it. The FED has pumped Trillions into the Stock and Debt markets since 2008 propping them up. The FED is currently working overtime pumping money into the debt markets keeping the 10YY falsely stable.
This is all going to come crashing down. The move? I personally have a lot of my cash turned into G&S (and lead and food) as well as taking advantage of this situation and investing into dividend paying ETF's like JEPI and JEPQ. If the FED is going to pump the markets, may as well play along.
Oh and to add, in Nov 2020 I saw this mess coming. I put my head down for 18 months, did nothing, worked 100 weeks grinding hard, my goal? 100% debt free. I am there! No mortgage no CC debt no car loans, everything I make, I invest and turn into G&S. I am sitting and waiting patiently for the RE market to crash again so I can cash out G&S and dive in hard.
Ever since 2008 they created these precary jobs, these zero hour jobs, week contracts, temp jobs of a few months. All fixer uppers for the job market. Obama jobs, I call them. Or here in Europe, I call them crisis jobs. I observed the economy ever since 2008 and the problems now are still due to decisions made the . And banks still make stupid decisions every day. Too busy green washing and giving just as many loans as ever.
Eliminate smoking, alcohol, weed, gambling. Cut the cable cord and watch free streaming only. Keep electric and gas usage to minimums. Make a budget and don't go over it. Good luck and God bless.
I'm actually doing this very thing and it helps a lot.
correct. we have no mortgage no loans. 3 new cars 200k in the bank an investments. i spend nothing year to year. no drinking no smoking. nothing. we drive a nissan leaf.
most people with no money will always be broke even if you gave them 1m dollars.
year later it would all be gone. u give me 1m dollars that would be 2m a year later.
You forgot to list the biggest addiction of all: food, specifically take out and eating out. Or just living "high on the hog" at the grocery store instead of hitting up the 5lb bag of rice, 5lb bag of potatoes, 5lb bag of beans. No doubt you are addicted or you would have listed it.
@@greeneking77 i live on 100 usd a month on food. i'm strict vegan and live on very basic food. always have done.
let me put it this way how carefull i am. i've been on holiday last 5 weeks and spent 3usd on myself on luxeries. i live the most basic life you could ever imagine.
that's why i have money. i never ever waste it.
@@isaachunt5799 Good job I salute you! I was referring to the original poster.
The economy is so good that both my neighbors had their cars repo’d
For real????
Oh, wow; how embarrassing!
Oh that means we are in a recession. Now if YOU lose your job we are in a depression. And that I think is right around the corner.
Or they could not afford them to begin with and not living within means.
@@blackworldtraveler3711 right? I live in a small suburb outside of San Diego. It is not uncommon for me to see folks driving 100k plus cars and the houses are like a million dollars now. So I really wonder what the hell a lot of these folks do for a living. What I really think is, like you said, most folks are living WAY outside of their means and are about to lose everyting and then some. When events like that happen, that is a buying opportunity for those who are patient and in the know. The only way to be in the know is a massive amount of effort both in knowledge and work to discover what the real truth is. For example housing IMHO is about to take a bath. The builders have over build. To know we can watch expert folks on TH-cam that cover housing, you see thousands of houses that are complete or almost complete and no one is in them (FL and TX this does not apply to all markets). In addition to that the home builders are offering 3 or 4% interest rates... when the going rate from a bank or lender is 8%. So that means they are trying to unload these. Once folks figure that out and that there really is not a housing shortages at all but an affordability issue... housing prices are going to crash. Put that along with unemployment going up at a much faster pace and folks will be losing their houses, folks that bought the top (say within the last 2 years) are going to be underwater on their mortgages and are going to walk away, just like they did during the GFC. This will increase the supply side and drive housing prices down even further. Now add the folks that are way over leveraged and way in debt ... that is just going to make things even worse. This is not just going to happen in the housing market, this is going to happen in all markets. The stock market and the bond market does not get a pass. Which means that Americans are actually worth half of what they think they are and things are about to get really nasty. Could I be wrong? Of course but how many people do you know that have read over a hundred books on this stuff and trades the markets all day long? I know way more thatn 99% of all the finaical advisors out there and to prove it.. today was the worst day in the stock market since 2022. I made a crap ton of money today. Not to boast but I need to put some credabity to my statement otherwaise people would just think I am a crack pot, perma bear, doom and gloomier. No I am not, I am happy to make money when the markets are going up too. In fact would rather that because that means things (economy, folks etc) are doing well but I make money 3 times faster when the markets are tanking. Regardless I think what comes next is a liquidity, collateral, and debt crisis all at the same time. So the Great Depression, the Dot Com Bubble, and the GFC all rolled into one... but to make it worse the debt level for everyone, civilians, government, buisnesses etc are at crazy all time highs. That will make it a Great Depression 2.0 on steroids and I don't think folks are even remotely prepared for an event (once in a 100 years) that I think we are about to get. Lets hope I am wrong. But I have 50k short on tripple inverse ETFs (for the NASDAQ and the Russell) that says I am not. If I had 100k that would be there not just 50k. So I am putting my money where my mouth is. Not just talking about things. I have been trying my best to warn as many folks as I can to get ready, not to alarm but to prepare. We are all most likely going to have to buckle up real tight and hang on for dear life.
I love the mid-century modern homes in your background. During the 2008 crash, I lost everything including my family via a divorce. I promised myself I’d be better prepared if and when it happens again. I’m good right now.
I hear you... recessions are engineered to break families apart. This is how the NWO operates.
Good for u🎉
MCM is the best
Well done, plenty of us that have been burned previously, so while the economy is doing well we're saving like crazy. The stress of heading towards homelessness is something I wouldn't wish on anyone.
Me 2!! Lost it all got 3x much back
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
Talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 100k to test the waters now that large cap stocks are at a discount... Thanks
My CFA ’ANGELA LYNN SCHILLING’ , 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.
Thanks for the recommendation. I'll email her and hope to get in touch soon.
Talked to one of our major contractors today in the Jacksonville FL area. Last year.. 380 bids for jobs. This year? 50. We are f*cked.
Where is that at?
@@michaelkeeton2979 Jacksonville FL area.
It's NOT like that in my area
Not in California but people here have way more equity in homes
@@michaelkeeton2979 Jacksonville Florida area.
people have been living paycheck to paycheck for decades
Bad choices and bad management. Most living for years over their means. Frugal living is hot right now.
Agreed,and the government has had at lest seven dacades too figure that out,I would bet close to 80,90,%,been living like that
@@elisabethgardner6321 Frugal has been ingrained in the minds of individuals who don’t lack common sense.
@@elisabethgardner6321True
My parents raised 6 kids back in the 50s thru the 70s and I heard them once say, " If we had credit cards when we had all those kids we would probably be in debtors prison" So much free fun back then. No fishing license needed to have fun all summer. I also fed and cleaned a barn full of horses with other teen girls and got to ride for my labor. It's harder on families now.
Families must be struggling, things were doubled in price at store, but now they are tripled..this is scary..
Don't forget shrinkflation from corporations with highest profits ever
Me and my family are so broke now. We have taken in 2 relatives who are out of work but my wife may also lose her job soon. We are still a ways from being homeless but it's not unthinkable in the current economy.
Why? You need money not more people to feed.Take in people with a job. Landscapers and housekeepers are always hiring.
Tell the able bodied people just get A job even if it's not what they want. Something is better than nothing. Plus if it's a burden on you. Tell them you're broke and helping with food and utilities will help you keep the house. Possibly pay small amount of rent.
What city are you in?
See what happens when you dont listen in class and dont do your homework
They better be hustling in the meantime or you are a sucka
I think way too many people are still living in a fantasy land where they think they are entitled to paying someone else to do everything for them. I hear people talking about being worried about losing their house yet they still getting doordash.
Everything is falling apart and nothing is being done.
by design, its up to us to get something done
Even my precious pets are feeling the difference. Less treats, less grooming.. it's sad. Very sad.
Kill shelters are euthanizing animals in record numbers. Puppies too.
I know pets is off this topic but my heart breaks that this economy also is affecting innocent creatures too. 💔
I've skipped taking my cat to the vet for her vaccines and checkups. I pray she'll be fine. I had a cat live to 21 without shots and the vet for her last 16 years.
@@betsybarnicle8016 Whew, that's an old ass cat. Mine made it to 17. The oldest i've ever seen was 23 though.
@@betsybarnicle8016 Animals do a pretty good job of healing themselves. -But just in case, you might research the non-profits in your area that provide $$ assistance for pet care. Some agencies raise funds to assist pet owners, but then when a person applies for help, the agency has a reason to deny the request. So, ...go figure. ???
I know. My heart breaks for the animals. I am feeding a bunch of outdoor cats plus my own family of cats. When people suffer the animals do too.
@@betsybarnicle8016I don’t buy all that vaccination stuff for cats. My four cats were originally vaccinated when I adopted them, and have not been to Vet since. Ages 14, 11, 10, and 9. Only took to doctor for respiratory infection.
What does $1000 do for anyone nowadays? Serious this won't help anyone. It's a joke
If you're a family of four making 31,000 per year it would have a huge impact on their financial lives. That's a 33% pay increase which in anybody's book is a massive pay raise.
Maybe a car payment and a week of groceries, but won't even touch the mortgage.
Well lets raise it to 5k then. Regardless it is the ability to take on an emergency without having to put it on a credit card. If you use credit cards that way you are not fincailly stable and doing so is making you go backwards not forward. Which I think is the point. Better than all that how about having the ability to turn 1k into 10k? How many folks do you know are like that? That is the real trick.
Exactly 👊🏽
I'll take it and pay off my mortgage quicker. ✌️😎
I’m soo far underwater, that if I fart it’ll take a month for the bubbles to reach the surface.
😥🤣
Thank you for talking about this.
Unfortunately the democratic party controlled news media won't.
Been living below my means my whole life . I live here in the Bay Area , found a great little place to rent that met most of my needs and just worked around the rest . It’s that simple get as close as you can to what you need and adapt. I have had tons of great experiences and have had all the cool kid toys , motorcycles , boats , cars and trucks . All while making sure to save every day . Pay cash for toys , never go in debt and stop trying to impress people .
It's worse than people not having $1000. They not only don't have the funds to fix the car, but their credit is maxed out on grocery bills.
More people are under financial stress. It's more important than ever to be kind to others in public.
I like to be kind to others in private also. It's a good habit.
Sadly, many people don't and won't understand why it's important.
@@alexlopez5800 good manners is everything!
I try to remind myself it isn't anyone else's fault that I am broke tired and angry all of the time. I was born Into poverty. Generational. My dad was an abusive drunk, dead, and my mother ran away when I was very young. I raised myself from age 14 on. Forever Poor.
Life is hard enough. There's no need to have to deal with a**holes. Just be kind.
Keeping up with the Jones’s has a price. Dont worry about what others are buying and the trips they are taking. Pay your bills, get the food you like to cook, and maintain what you have. Think of what your grandparents did.
60 years old, never had kids for this very reason, it’s only gonna get tougher!
Don’t fall for it people, they want you to get into the habit of seeing withdrawals from your pension fund just before they start withdrawing from the pension funds too! Go get a weekend job, make cuts at home, take a cheaper holiday, don’t go robbing your future self.
If you use the money to avoid going into debt, you are better off. No way the money grows faster in the 401k than the debt would otherwise
I just had this exact converstation with my wife yesterday. I love her dearly but damn if she doesn't fight me on robbing from our future self. Luckily I figure out a way (has taken years of sacrifice and dedication and yes some loss) to make really good money as a side hustle. And that is really important becasue this side hustle works no matter what is going on. My real goal now is to get the house paid off as fast as I can. I am close only 3 years left. I feel very blessed for that.
@@bpb5541bud, you are going to having timed negotiating not overspending. If things go under, it's going to be tough.
Money isnt worth shit anyway. As soon as the petro dollar falls(BRICS, now on gold standard) then its ALL over. You all better realize its over.
@@bpb5541 401k's are all about to go 50% negative anyway, with deflation and asset value crashes, you do understand that cash goes up 50% in value, correct?
Keep going Michael !!!!
I’m so broke I had to sell my car for gas money. :)
.....so you can fill up your tesla with gasoline, I hear you.
I feel so fortunate that we have no car loans, credit card or other loans and only buy things with cash
Same.
Wouldn't have it any other way.
😁 we’re talking cash here !!!!
5 months of car payments away from being there. Looking forward to it.
You are not fortunate. You have made the sacrifices to make that happen. You worked hard to get there. Congratulations, great job.
BIG LOTS closing all over CA. It's cheaper than the dollar stores. I paid off all debt during pandemic and live below my means, trying to make my money last into my '90s.
17% inflation will deplete your saving completely in 10 years.
You are not guaranteed to live til your 90's. Guess it's good to plan though. Just in case.
They want to destroy the monetary system completely and install the bête system. Do you think the controllers will give the equivalent of what you had in savings? Do you?
How old are you??
Because people would refuse to go there because everyone tries to flex and think its beneath them.
Our country has abandoned the lower working classes. They reward the wealthy and well born. It is a shame. Governments should ensure that the disenfranchised, who work diligently throughout their working lives, have a nice retirement. Seems that the great reset plan has no room for them. Shame.
It's called capitalism.
@@DonaldDolph-ob8yv capitalism on steroids
@@DonaldDolph-ob8yv Capitalism is when the government takes a third of your money to pay for welfare, apparently.
Save YOURSELF- Be a grown up adult and take accountability for your OWN CHOICES.
100%
Things are so bad I saw two Buzzards fighting over a fan belt Today!
That was my neighbor and me how dare you call us buzzards ?
Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
Do you mind sharing info on the advisor who assisted you?
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
The sheriff repossessed another condo in my complex two days ago.
That’s 5 this year.
Many fell into the trap of debt to build their credit score. Buy less, live frugal.
The rich don't care about a credit score. They are their own bank. Think about it. Almost ALL debt is bad debt. The only exception is if you take out debt, and that debt makes you money. This is dangerous as most are not able to do this with any degree of constancy. If you are one that can. You get to use the 2nd rule that makes the rich even richer... which is using other peoples money to make you money. The first rule of course is using other peoples time to make you money. Poor and Middle class do not think this way.. which is why they will continue to be poor and middle class. Its a shift in mindset. One that most don't ever do. You might be born into a rich family and it is already instilled in you or you have to learn it. How do you learn it go hang out with rich people not middle or poor class people. Rich people love to talk about how they are making more money.
I was laughed at and called stupid for doing things like avoiding debt, paying cash for everything, paying off 30yr mortgage in nine years,buying smaller home,used car,etc…
Also nagging me about how wonderful “good debt” is.
Don’t think I will be hearing from them anytime soon.
@@blackworldtraveler3711 well done !!! No take the money you have that is not going towards debt and figure out how to make money off of that money. Then you are free.
Yet everywhere i go places are packed, air travel has never been busier, roads are constantly crawling. The spending and consumption keeps going up up up. Everyone seems to have endless time and money to burn. I just can't figure it out.
Some of us are debt free,saved ,invested,and always lived within means avoiding debt.
No big homes,new cars,and kids we can't afford. No garage full of junk,eating out,fast food everyday,etc...
@@blackworldtraveler3711yeah some, doesn’t explain the rest that are out there consuming more more and more, the roads with traffic crawling and airports where you can barely get around.
70 percent of Americans are paycheck to paycheck coming from Orlando today. it's not good
Paycheck to next day a lot of them not even making it to the paycheck
People chose that paycheck to paycheck lifestyle.
You can't afford to live in Florida and expect to make a living. Florida is a multi millionaire retirement state
Why do people buy coffee at Starbucks or any coffee place at all when you can make coffee at home and buy creamer at Walmart
It’s a social thing in my neighborhood. Hang out with friends and neighbors now and then. No drive thru and has a large fireplace.
I live within means and a saver/investor since 15. Always avoided debt.
So instead of new cars,payments,credit card debt,too much home,spending money I don't have,etc. I prefer saving,investing,living within means,used car,zero debt,small home,and spending cash.
Also a shareholder since mid 90s and earning great dividends so ironically Starbucks pay for my stuff.
A $6 cafe mocha is no big deal.
I make coffee at home . If i have to go out ,I take a small thermos with me. Big money saver
I have way more Starbucks than the area I thought could afford and that doesn't include the Dunkin's and Tim Horton's. But they are all busy.
I don't even drink coffee. I can drink whiskey and gin at home for $3 per drink. It is extremely expensive these days to do social drinking, even coffee LOL!!
It's the one litle thing I *can* afford.
Mike, I was reminded this morning that 40% of Federal tax revenue goes just to pay INTEREST on the debt. Shocking.
How nice of them to allow these struggling people to start using up their retirement money, which is now worth half of what it was 4 years ago!
Basically they are removing all the life boat's from the sinking ship!!
Markets starting to turn
Yeah, on top of all those "cash out refi" commercials out the wazzoo. I couldn't think of a worse time to leverage your house than when you're already broke.
How can you say that people's retirement accounts are now worth half of what they were 4 years ago??? Have you seen the stock market recently? The S&P 500 closed at 3215 on 7/24/20. Today the S&P 500 is at 5356. I guess I agree that it's a dumb idea to allow penalty free withdrawals, but most retirement accounts should be worth more today than they were 4 years ago.
@@jeff.0-3You may have more in your 401 but it's worth way less than it would have been 4 years ago
@@jeff.0-3 The value of the dollar is plummeting and inflation has eaten the gains and then some. Plus if the market finally corrects(and I bet it will happen in trumps first year if he gets re-elected) that paper value disappears.
I try to keep a $1000 minimum in the bank for emergencies, along with credit cards paid off, and don't touch it.
Good idea.
its the bare minimum
I had 2000 at all times but that's down to 1500. Even that is getting hard to hold onto 😫
$1000 for emergencies dude that’s not enough that’s nothing …
I totally agree....@@lifewithbakari1413
Life has gotten so tough lately. My mum has been saving for years and now she’s confused about what to do with her $280k savings. The economy is so unstable, and she doesn’t know where to invest it to ensure it grows safely. Any ideas would be appreciated.
I totally get it, LarsBergstrom. My parents are in a similar boat. It seems like everything is so risky right now. We’ve been looking into diversifying into real estate and some conservative stocks, but even those feel uncertain. Has anyone else found a good strategy?
I’m in the same situation, and it’s really overwhelming. I’ve been trying to learn more about different investment options, but it's hard to know who to trust. Does anyone have any advice on making informed decisions in these times?
I was in a similar spot last year. After a lot of research, I came across Kristin Amy Rose and the rest is now a history!
@@Andrian-ch3on Thanks for this tip. Just looked her up
Put it in Solana. In 5 or 10 years, Solana will probably be up at least 5,000%, and you can get staking privileges the entire time
Who cares about credit acore when living like this. I need food, job, gas money.
Don’t go to college if you can’t afford it. A bachelor degree should be free in this country since it’s about as valuable as a high school diploma. So it’s a rip off. Everyone needs a job and to create a system that places interest rate debt on you just so you can get a job is predatory. Especially on people and the families who come out high school poor. An education after high school is supposed to make it where you can get a good paying job but that’s not the case anymore.
*My child went 2 years to Jr College and her first job after graduating paid 80k to start.*
Depends on your major and where you go to school. Accounting majors graduating from regional public universities start at 60-75k (frequently more with bonuses, etc.). The CPA firms can't find enough skilled accountants. Salaries are going up; however, the profession requires hard work, long-term planning, and consistent skill development (AI, etc...continuing ed. requirement). These jobs have a long-term future if you work hard and smart. Same thing in nursing. Go to a good regional College (or Community College) and learn a skill. BTW, many professional firms (e.g., CPA firms) offer internships to competent students. This practice enables students to graduate with experience and income. Entrance and advancement into any skill-based profession, however, require patience. Don't just look at the starting salary. Try to see where the profession you are considering (they are all rapidly changing) is going and where that fits your own skills and interests.
Finally, I used the four-year College degree in accounting as an example (since I have been involved in accounting education for a long time). However, the same principles (good training, consistent skill development, hard work, etc) apply to all great professional fields (all health professions, law, engineers, electrician, plumbing, mechanical fields,...you name it.). A four-year degree is a requirement for some, not others. Ultimately, skill development and experience are the keys to advancing in the great profession. So, in many situations, a 4-year degree is not required. It all depends on the profession and, your interests.
@@campervan7354 Congrats to your child!
THIS CONTENT NEEDS TO GO VIRAL ASAP.
YOU ARE SPEAKING FACTS.
The real struggles Average Americans are going through. The economic reports we see are not real.
If my job can just hold out for another 2 and 1/2 years I'll be set, I will be mortgage and debt-free
Wish I could have a mortgage.. 😒
Been saying this and people look at me like this…😳. All while saying the economy is the best it has ever been, yet they do not have $1000 in case of emergency. He is speaking facts
Been saving for 50 years, glad I am not in the same boat with these people and many of them thought they would be able to live on a social security check, mom told me many years ago that social security was started in 1935 by Franklin Roosevelt to supplement your income, it was NEVER intended to live off of but it is amazing how many people don.t know this.
@@edmardt 20 years later and my mom learning the hard way, now im gonna make some side gig to have actual income profits coming to the house hold.
@@gsst6389 I learned a long time ago that the only way to fix a money problem is to figure out a way to make more money, part time job, start a small business or sell items on online, do whatever it takes and best wishes to you!
1000 dollars is laughable, the IRS just wants more tax monies!!!!
Your 1st mistake is to have money in an IRA so that the government can be your business partner. I got out of this system within 5 years of my retirement 10 years ago because I did not want the IRS to have a 50% stake in my bank deposits. Own metals and keep 100% of your money under your control.
Keeping some money in PM makes some sense when fighting inflation.
Best accounts/brokers to build up PM? Or get a safe at home and a bank and buy physical?
Well when u sell the metals that triggers a sale and any profit IRS is owed...I also own metals but have yet to sell. Maybe if one sells a small amount one can go under the radar
I have way more in metals than anyone has any rational right to have so maybe 40% but with that said silver is still well under $20 from its high which was decades and decades ago. Gold which I'm quite familiar with and is the metal that I own, a ton of it" has to at least be understood as a very very speculative investment. It is not safe and it does not always do what people think it will do which is to mark inflation. Gold today unlike 30 years ago when I got in is currently being completely controlled by hedge fund managers that buy the paper and they're all in cahoots together and they dump all at the same time. You may remember 2011 where gold was $2000 an ounce. It then quickly fell to $1000 an ounce that's a 50% correction and it took 10 years for the breach 2000 again so was that a good investment for the guy that bought it at 2000 and ounce. I don't think so. It's a 2400 but come back to this post in a month or two and I bet you will see gold trending at or below $2000 per ounce as hedge fund managers are poised to dump the paper gold onto the market in droves. For me it doesn't matter I don't need the money but I would not advise people to be buying gold at this lofty price point. They very well may see their investment drop from $2400 an ounce which incidentally is falling rapidly today to a 20% loss or correction. Gold has had massive corrections of well over 50%. You may remember in 1981 gold was priced at $850 per ounce. Now 20 years later in 2001 literally 20 years later gold was at $250 per ounce. So the guy that bought gold in 1981 was down a whopping 75%. Point is gold is not a safe investment it is as wildly speculative as bitcoin or any AI stock and people should not kid themselves.
Metal in hand not paper.
I'm so happy we live below our means. I was approved for a much larger mortgage but so glad I didn't take it! Live simply and modestly, pay off your cc every month, and make sure put money away every month in an interest bearing account.
This is the way. It’s tough listening to people say they’re having a hard time and then watching them eat out all the time, drink beer and drive a car they can’t afford. If you’re spending all that you make then you’re living above your means. Don’t do it and things turn out alright more often than not.
You're totally right. Last week I got an automatic email from my cc company, yelling at me because of a purchase glitch (it worked fine when I tried it again). But THIS week I got a new email from them, proudly announcing that they'd raised my cc limit by a significant amount. They clearly want us to end up facing huge future bills, and the bigger the better.
Exactly.
Been broke so long I’m numb to the pain, grew up thinking this world was a nice place but I’m at that point in life now where I enjoy nothing besides the odd meal. It’s desperate times for so many out there.
Letting me take out $1000 for an emergency.... What about the 35 TRILLION EMERGENCY!
Right now. Over half of our income taxes go to paying the interest payments on that $35 trillion dollars. LOL
I would add my two cents but I can't afford to
Put it on the CC
And if I had a nickel for every time someone said that. 😂
The one thing when I was younger is being told and seeing my elders when they got to retire. Now that I have I’m beginning to wonder if anyone other then the richest people are going to make it
WOW!!! Did you see that old Bronco? SWEET!!
Nice patina too!
It was a 1971 Bronco I use to have one with a 289 in it
@@jjboohoo9641straight six?
1960s classic in the first ten minutes also... an old street race type car in light green
glad I'm not the only one who noticed that.
Beautiful machine.
Most of them are taking $1,000 out so they can pay for food.
That's what happens when you don't live above your means.
Everything just got too expensive and the wage increases are a joke compared to the rising infaltion!
that is because we ( 98%) voted always the same two parties with the same results year after year. it is our fault...
Some guy posted a TH-cam short on here showing a Walmart order he had from 2019.. it was a dozen or so household items and the total was around $140... well on Walmart you can hit a button to "Order Again" and reorder that entire shopping list... it was over $400 when he did that. That's wild.
And that was caused by the last TWO adminstrations !!! Trump does not get a pass.
@@jonathantaylor6926 Walmart said it is because many of the items were no longer sold, or had cheaper substitute items since that time. Make what you will of that.
Bidenflation.
If you take that $1000 out, it is counted as taxable income. The only thing the government is doing is waving the 10% penalty. There has always been emergency withdrawal of loans allowed against your 401K money. Obviously, its best to never touch 401K money until you retire.
The real trick is to be able to make so much money that you really don't mind paying taxes. I mean it sucks but with a crap ton of money and the ability to make more. Who really cares? This is what I am working on. That way when I do I can help others get to that point too.
@@bpb5541 Agreed,...that is like retirees complaining that RMDs will push them into a higher tax bracket. Ask the majority of people on the street if it is a negative that having so much money MAY have tax consequences.
@@Tonymanero1960 Thank you !!
@@Tonymanero1960
That’s why I only contributed to aftertax and Roth in my 401k though my career.
I planned to retire 15 yrs early in 2020 so ACA and IRMAA income limits was also part of my due diligence along with RMDs.
I’m good.
Ha. In 10 years our 401ks will be worth a .401k.
Great show tonite. You are so on the money about what a mess we have created in this country. Love to listen to you.
People are tapped the f out! I have a decent savings, but everybody seems to be listing their "toys" for sale on different marketplaces. So many cool sport cars, classics, arcade/pinball machines getting listed daily. I'm tempted to buy some of this stuff but this also shows me that people are selling this stuff because they're again..tapped the f out!
Living above their means.
Toys that aren’t necessities…..
In my area the classic muscle car era cars are still listed for ridiculous prices , cars that look beyond saving are going for what nice drivers went for ten years ago😢
Yup and I've been buying that shit lol
Some of us are responsible with money. Yes I CAN write a $1000 check and it wont bounce nor negatively affect us. Low mortgage payment and bought an bike instead of a car, we put saddle bags on it for grocery shopping.
A bike is a lot cheaper. Cars cost to much to insure and repair
@@gregorylyon1004 Yep, why we wont own 1
I think most families in America are living waaaaay beyond their means.
There are a lot LOT of ppl that does not even have a saving account.
Why would anyone use a savings account? Thats a good way to lose money. Interest doesnt keep up with inflation.
@@breadnaut3087 what would you recommend?
*Especially the ones working for cash under the table and getting food stamps, welfare and other free (to them) handouts courtesy of working taxpayers*
These immigrants coming in pull everything out on payday and stuff it under the mattress.
@@breadnaut3087 highly doubt the people without a saving account have something like gold. A decent amount have stocks which is fine so long as they don't panic sell in a crash (most people panic sell lol).
When your broke or in debt you feel vulnerable, when your vulnerable you are compliant, just how the Governments wants you to feel.
I'm afraid to check my bank account. When I'm broke.
Found your channel from jack and I think you do a excellent job bro. Good TH-cam' channels put the mainstream media to shame. !
❤🙏
2 accts 50k each in 2019...
Today: 1 acct 50.00
In other words the economy devastated me
Same.
borrow from your home....you will end up on the streets in a tent .
My best friend has had to take out $15,000.00 from her small retirement fund, as she’s been without a job for almost a year, with nothing in sight. She is in the animation industry in LA. She was told that she can’t start getting unemployment until October, because the state of California currently has too many people on it, snd the state can’t afford for everyone who needs it to be on it at once. Craziest thing I’ve ever heard!
That's horrible. Hope something pops up her way.
Tell her to find another job. Animation can be done by AI now.
@@darrelldarrell1447 100% true, if you're just talking the robotic part of production. But if she can also create new characters and develop them correctly, that makes a big diff.
She can get a fast food job for $20 a hour.
The state of California is lying to your friend. The truth is that California cannot afford to pay unemployed workers because they are going broke paying lifetime free ride pensions to retired workers. California has 82 different free ride pension funds currently. That's where your friends unemployment money is really going. So thank all of the retired workers and senior citizens who all want a lifetime free ride. Check out Californias unfunded pension fund liabilities for yourself
They want us to burn our retirement savings. During COVID they let Aussies withdraw up to $10k of their superannuation. Paying $3k straight up in tax left them with $7k to pay their bills. Many fell for this trap.
Everyone keeps saying "They"
, who the hell is exactly "they"??
The wealthy politicians that write all the rules to benefit all the wealthy people.
@@cyrusm3391 IMF, WEF, Central Banks, Wall Street, Rockefellers, Rothschilds and all their holdings, the govts they control. Get with the program. Its a rigged game and the House always wins
@@cyrusm3391 you know who. Can't say it without getting censored
@@DennisMartinezCalifornia my reply already got deleted. People have to do their own research and I suggest Rumble, not this platform to do it.
The rent is too damn high!
I'm lovin these "so broke" one-liners down here in the cheap seats.
In my county alone, there are currently 800 foreclosures ☹️ Not comforting to know when you're looking forward to be a homeowner soon....
The proof is all around us lol.
Things are tough we’re all scratching our nuts flat broke ! ☹️
I put up a comment supporting this topic and it was Auto-Deleted!!! The tube thinks it’s controversial to have REAL talk about the economy. 🤯
Inflation. Thinking about how much prices have increased just in my lifetime (60 years) makes me sick to my stomach. There's a miniature war game that I enjoy playing. It was discontinued in 2010, but a company is trying to bring it back. It's now 5 times more expensive ... in just 14 years. Insane.
I'm glad my mom made us learn "saving" at a young age. We had to save a percentage of our chore money every week. It was annoying as a kid but that habit has come in clutch as an adult.
Would not be surprised if a county worker relative lives in the house where the taxes decreased by over 80%. Not surprised by the corruption in our government, especially in California.
Wherever you go, there you are.
And if you are broke, there you are again. So really the trick is you.. the issue is with us not anyone else. But we sure do like to blame being broke as shit on anyone but ourselves. Which I find amusing.
The government could give two turds about 'helping' you. They are so short of tax revenues, they need the taxes you'll owe, now!!! Here's a tip......don't buy crap you don't need!!!
They don't need taxes at all. They spend mostly printed money. The idea of taxes is to keep you chained.
The government is owned by the billionaire class. Notice how they now get away with paying a 3.4 effective tax rate.
taxes i owe...? i always pay them. if i was one of the very rich i wouldn't be paying sweet fa. i wouldn't even have to pay capital gains - all the loopholes placed there deliberately for very well-to-do people.
leona helmsley was right: only little people pay taxes.
@@theincantrix1144
You don't really need debt at all but people continue to keep up with Joneses being slave to their jobs voluntarily.
@@Scriptorsilentum Oh, I remember this very clearly! This is when Ronald Reagan was shifting the tax burden from for the wealthiest top 1% to the middle & working classes. It's very true, from the 80s on, taxes are for the little people. Leona was so right! In 1980, Reagan shifted us out of Keynesian & Adam Smith economic models America had been using for decades to neoliberal economics. The highest income bracket was 74% & the corporate tax rate was around the same, 74%. Reagan cut them down to 28% and 25% respectively. The tax breaks were supposed to trickle down...instead the country went into a recession & Reagan ended up taxing social security income, interest on car loans, credit cards, tips and all sorts of other goodies the middles class was able to take advantage of.
Yes, he wanted to make America great again, like it was from the 1880s to 1933 right before FDR turned the United States into a communist nation. Reagan liberated us from the tyranny of Alexander Hamilton's Manufacturing Plan, FDR's New Deal & Keynesian Economics. I remember what life was like before the 1980s. It was awful and brutal! I mean, there were like no homeless people. One parent could earn enough money that the other parent could stay at home & take care of the children, while being able to buy a home in a decent neighborhood, without even having a high school diploma. This parent was able to take the family on vacation every year & buy a brand-new car every two years while putting their kids through college. It was insane!!! I still get flashbacks. The newer generations just don't understand how good they have it now.
Things in the northeast are on fire. My neighbor recently sold her condo in three days for cash without using a realtor.
1000 dollars can't even pay for a month of expenses today....
No debt and bare bones minimum it still can. Low cost of living is the trick. No mortgage, rent, cable, or expensive car payments. No college loan debt.
Grow your own food as much as you can and DIY EVERYTHING.
@@googleuser868if you have no debt and everything you have is paid for,1000 dollars a month is hard to make last a month...
You right on, my electric bill came in a few days ago and it’s over $500 by itself.
@@googleuser868 you are living in a fantasy land sir. No mortgage? No rent? Most people are not in that position. Just food costs are around $300/month for one person where I live. Maybe people can go back to the agrarian lifestyle when everything collapses.
@@Ziegfried82 1/3rd of american hownowners have no insurance. ALL of them own their own house outright. 40% of americans own their house with no mortgage. That's 33.3 MILLION homes.
Not a fantasy. Just reality. And $300 for food for one person? Only in cities where $100k is considered starting wage, or you're eating out every day.
That's because BlackRock and Vanguard are buying up all the houses and overpaying for those houses with everybody's 401K money.
Thank you sir from Georgia
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety.
Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
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 is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Jennafer Beaver Turner is the licensed advisor I use.
Just research the name. You'd find necessary details to work with to set up an appointment
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
There have always been people that are short of cash. Maybe people shouldn't buy $50,000 SUVs that they don't really need.
moreso since 2022... its proven as bad as the 1960s economically, rent to paywages ratio
I haven't had a car payment in 11 years... Not looking forward to my car dying
Our corporations shouldn’t be so greedy.
Exactly. I marvel at how many new $50k plus SUVs are in our neighborhood. Most well above that price. I’ll keep my 14-year-old car running for as long as I can.
@@sycamore2789 AND government. If you haven't figured out by now that corporations, banks, and governments are all in cahoots, I really don't know what to tell you.
I live in the middle of nowhere and one neighborhood just bought a 2025 pick up for 65k, and the other bought a 115k Brinkley rv. Economy must be bad.
Another good video, Michael. I appreciate your being apolitical.