What's your budget breakdown? We're looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
She's 31 and appears to be in good health. She could get a very basic plan with a high deductible for $200-$300 a month. Instead that money is going towards her BMW. If she has a future medical emergency sadly her future health insurance policy is a go fund me page.
Please please change your mind about health insurance. Check ups are also about preventative care. If I were you two, I’d prioritize her health over the car payment. I know it’s expensive but your health is invaluable. Not to mention, if she’s cleaning the rooms, people carry germs and she’s inhaling chemicals often. It doesn’t have to be through the business. I had a decent ACA plan health/dental for $272/month. If you’re on track to turn an $81,000 profit, there’s gotta be room. Not shaming, just strong encouragement from someone young and healthy who got sick unexpectedly TWICE and was glad I had ACA healthcare.
Totally agreed about the necessity of preventative care. But the thing is, since 2019, there is no longer an individual mandate penalty. It makes sense for a young healthy person to go without insurance, just pay for health checkups out of pocket, and not enroll in obamacare until you finally develop health problems that bring high medical care costs. It's sad, but that's the way Obamacare works now.
Maybe she doesn't eat junk food, no alcohol, no smoking, only healthy meals, and regular exercise. Then she doesn't need health insurance. Health insurance is perfect for people who care less about their health so they can have something to fall on.
The absence of health insurance is truly alarming. It raises serious concerns about financial priorities-choosing a luxury item like a BMW over essential health coverage is a glaring misstep. This approach exemplifies the risk of placing all your financial eggs in one basket. A single serious illness can disrupt your life in an instant, threatening to unravel years of hard work and savings. Many people overlook the importance of sound financial planning, leaving themselves vulnerable. If you believe you can handle these complexities alone, I strongly recommend consulting with a financial expert who can provide valuable insights and help you create a robust strategy for a secure future.
Honestly, many people seem to overlook fundamental truths, forgetting the adage that health is wealth. When advised to seek a financial advisor, they often dismiss the idea, believing they can handle everything on their own. However, financial advisors are trained professionals who specialize in managing assets, properties, and life decisions. It’s crucial to recognize that entrepreneurship should not be pursued lightly; a solid understanding of financial management is essential. Many wealthy individuals and multimillionaires employ wealth managers precisely because they grasp the importance of having expert guidance in their lives. Understanding and navigating financial complexities can make all the difference in sustaining and growing one’s wealth.
It’s quite astounding that she’s earning a substantial income yet has chosen not to secure health insurance. Prioritizing weekly investments over essential coverage is a questionable decision. It’s crucial for her to understand the long-term implications of such choices; she needs to be enlightened about the importance of health insurance in safeguarding both her financial and personal well-being.
With my demanding job, I often lack the time for investment analysis or personal development. However, for the past seven years, a fiduciary has expertly managed my portfolio, adapting to economic conditions and assisting me in managing my bills and insurance. This professional guidance has enabled me to navigate financial complexities successfully and make informed decisions. They have even suggested additional business ideas for optimizing my portfolio in preparation for my retirement plans. I highly recommend that others consider a similar approach; these professionals are well-trained and experienced, providing invaluable support for managing your financial future.
Thank you! Absolutely, we’re in an era where making smart financial decisions is crucial. It’s not just about working for your money; it’s about positioning your money to work for you. You can find my advisor online; she is government registered. Just research the name Kate Elizabeth Cressotti, and you’ll find the necessary details to set up a correspondence and arrange an appointment. That’s all there is to it!
I understand Roxanna is young and doesn't think she needs health insurance but now that you can afford it it might be worthwhile for things like accidents (broken arm) or a sudden unexpected illness like pneumonia.
Or other sudden illnesses like cancer. I know someone who was just diagnosed. They were perfectly healthy before. Or something like a car accident. Never go without health insurance if you can.
@@curiousnomadic yep woman have a higher percentage of autoimmune risk cause of hormone fluctuations and other factors that only usually happen to woman
@@ProMakeupTV Not sure I believe that but I have experienced it. It depends upon the individual person. I know just as much men who are allergic to ridiculous stuff like peanuts or who spontaneously get nosebleeds even in adulthood.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
She's a catch! Good business! They didnt talk about how much lost from 2018-2022. Those years were obvisually the dark years, but they paid off the mortgage which is HUGE!
Hospitality-related industries brought in a decent amount from PPP funds. I’m sure these folks came out ahead since they were in an area with outdoorsy/socially-distant activities so their customer base didn’t completely disappear
Yike, she has no health insurance and yes she's young but one unexpected accident or illness will wipe them out. If necessary get a policy with a high deductible to keep the payments affordable.
I'm so happy I made productive decisions about my finances that changed my life forever. I'm a single mother living in Birmingham uk, bought my second house in August and hoping to retire next year at 41 if things keep going smoothly for me…,
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver
Great hustle! I have seen Indian families build a fortune doing this. They would scale by hiring other Indian families to run the motel once they buy another one and repeat the process. The fact that you can live at the place and do the work on your own is a huge plus. Congratulations on your success!
@@MbisonBalrog I used to work for a bank that would do those hotel loans, and my understanding is that due to India being a caste system, a lot of wealth stays within families which allows for the constant acquisition of new assets. For example, many people with the last name Patel buy hotels.
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Julianne Iwersen Niemann is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up.
I'll be honest, I gambled with not having health insurance after being laid off for 5 months now because I am trying to pay my bills to survive .. but finally bit the bullet this year and got on the exchange. I hate the cost of healthcare, when I'm trying to keep my house, car and put food on the table, but realize that one major health issue could bankrupt me for life. Our system is broken and nobody should have to choose to either have health insurance or to survive .. but the said reality is many people do.
Excellent video but Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Her choosing to not have health insurance is insane...one medical emergency and their money will be gone in a matter of months. People prioritizing making payments for a fancy car that depreciates in value over their health shows a lack of common sense and real priority. That kiddo depends on you being healthy not on some bank account being filled with money that can disappear fast.
Health Insurance is a must. Would rather drive a beater than to have my wife without health insurance. What if she gets cancer? Do you NOT know how expensive medical bills can add up?
Lady having no insurance, let alone choosing not to have it, is not a good move. For example, I used to think that I really didn’t need insurance because I really didn’t get sick or need it. But low and behold November 2023, I had to have surgery. Never had surgery before in my entire life!. That surgery ended up costing $35K. Moral of the story is that I had insurance that paid for it🤷🏽♀️.
You can get affordable surgery by searching for self-pay surgery centers. There's one in Oklahoma and the typical surgery is around $5-10k with no surprise charges. Health insurance is a racket.
I often contemplate how elite investors manage to become millionaires through investing. I have a significant amount of capital that needs to be put to work, but I'm unsure about the strategies or approaches that will enable me to achieve good profits.
Before investing, I would highly recommend you to read a few books before. Books like Common stock and uncommon profits and the intelligent investor. They will help you a lot.
True, A lot of folks downplay the role of professionals until being burnt by their own emotions. I remember a couple of summers back after my lengthy financial setback, I needed a good boost to help my business stay afloat hence I researched for licensed financial advisors and came across someone of due diligence who helped a lot to grow my reserve notwithstanding inflation to 165%
My CFA is Karen Marie Gendron, 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 aunt is an accountant at an hotel in california they are fully booked by immigrants and are payed above market prices. The government pays for any damages including soiled linens. They also have their own police officer on call for any trouble.
We own a motel of the same size, and your purchase price was crazy low. I'm not sure if it's cause its a family transaction, but you can't go wrong with that. We've managed to increase our income too, just like you. Nothing beats being able to stay home with the kids, and have free time for just about everything. We wouldn't change anything about our situation, and I'm sure you're the same. As far as insurance, research samaritan ministries, or medishare. We had samaritan, and it was super affordable, and pretty good too.
Take advice from a grumpy old lady from Florida. Buy yourselves IRA's. We did that and we never got into them ( couldn't ) and lawsuits can't get them only the I r s could get them and if you don't do tax tricks that's not a problem. We stayed out of ours ( forgot we had em! ) I am so glad we are over 59 and a half and we are still staying out of them for later! Bless.
Exactly! And that’s what I was thinking too. I ended up needing to have surgery last year, never in my life think I would get sick like that, but yep. That changed my life in an instant, you just never know.
I give them a lot of credit doing what they're doing. I wouldn't be involved with this type of venture, especially in a state like Wyoming. Not everyone can do what they're doing.
@@AfricanUSA-th9ov Its just common sense though, why charge your own son to buy a property when they can all make money together? His son can take over all the overhead of operating the motel, the wife can contribute as much as she can while her parents can contribute in the household. The money he paid his father should have instead paid the debts instead. He could have eliminate the debts in one full swoop. Could have got a cheaper suv to pay off in full as well. Get health insurance than for his wife. Like its not entitlement, its common sense. I would have simply told my father to liquidate the motel if he can't afford the debt.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I remember giving her my first saved up $20000 and she opened a brokerage account with it for me, it turned out to be the best thing that ever happened to me.
When you're making that kind of money and you're a mom, not having health insurance is a huge risk. I would understand if you were poor and needed to hop on Obamacare but this is unresponsible.
Wyoming is all fun and games until you get blown off the road by the wind or your house is buried in a 8 ft snowdrift and you have to dig out. Ask me how I know.
@@arlohatcher4812 Born and lived until I was 10. Happy to be gone. Cousins stayed, made a fortune when the oil boom hit though. Got literally blown off the road when I was 6 with my mom in a Chevy Vega (had an aluminum block motor - very light). I've had to crawl out second story windows to get out of the house. It's harsh. There's a reason only 500k people live there.
@@markw999 honestly it seems like the move would be to run this hotel as a seasonal business during peak tourist season, then go live somewhere else for the winter.
425k a year and 22 rooms at 125ish a night…they’re empty almost 2/3 of the time. No way you would contract to keep 4 rooms open every night if there was a demand! Even at 85$ a night, they’re empty for more than a third. She doesn’t have insurance, there is no regular salary, no staff…. They lie to themselves if they think they’re profitable!
Why would they need staff if the place is paid off and they only have to clean a fraction of the 22 rooms each night? Their main business expenses are maintenance and utilities.
*Your explanations are clear and straight forward It's always a honor to have you here as a mentor, I appreciate you for the time being spent to educate us financially. Regardless of how bad it gets the economy, I still makeover $28K every single week. I truly value Mary, and her helpful guides.*
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
You just mentioned Expert Mary, Indeed, wow that woman has been an incredible mentor to me, imparting a deep understanding of the economy that I wish college had provided.
I know Mary, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
Choosing not to have health insurance is nuts. If you get in a car accident, develop a congenital condition or anything unexpected you will be screwed. Its reckless and irresponsible
I've been an investor in Apple, gold, housing market as well because I strongly believe in them, I've always believed in the stock but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla especially now that we are experiencing a market correction
Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one
I think that hiring a manager and then buying another motel with investors and building that out might be a good idea for them given that they have paid off this one motel. Basically take the cash flow from this motel and invest it into another. Motels generally give 15-20% return which is better than their stock investment. Plus they have an edge here
It’s likely being in a remote location it’s either not available or cost prohibitive. A friend runs a BnB, he said it’s cheaper and more convenient to do his own laundry-though he hates it.
@@AfricanUSA-th9ov it’s a LOT of laundry. He is basically doing laundry all day every day. It’s tedious and annoying. But that is what he chose when he bought the BnB.
Motels typically have a 60% margin so i estimate they take home about 250k . I believe they work full time on this ? So essentially they are getting paid 125k each. Not bad.
$174,000 combined income for a family is really not much, especially the way they are spending their money on expensive and unnecessary vehicles and taking on more debt. There's a reason why most family owned motels died out in the first place and the only way people actually make sustainable money off of them these days is by owning multiple. Glad they are doing well enough now, but they are living an extremely risky life style and if their child does not take over, they will soon have to pay people to help them with running the motel. Even the Dad acknowledges that their family would have lost the motel if the he didn't buy it from Grandpa because Grandpa couldn't' handle the work load anymore. Also, seems like there are some unspoken feelings on the husbands part for how they came to own the motel, he didn't like working there as a kid and he made it sound like his wife forced him to do it because that's what she wanted to do. I'm curious to see where they'll be at in 10 years.
Thanks for continuing updates and for keeping us financially Educated! Regardless of how bad it gets on the economy, I'd rather trade the crypto market as it's more profitable than holding. I made a Hundred thousand dollars from trading last year even though I barely trade myself.
Trading without professional guide... Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Mrs Sonia Dixon was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Sonia Dixon.
Sonia Dixon's analyzes go beyond superficial trends. It delves into technical, fundamental and sentiment analysis, providing a holistic view of the market.
That’s why people shouldn’t push entrepreneurship unless it’s your passion. I make 300k as an employee and they probably work way harder and I have insurance
You also are beholden to whoever employs you and your income is entirely dependent upon them continuing to employ you. They can take you from $300k to $0 instantly. With entrepreneurship, you have more control over your own destiny.
Paid off hotel in 3 years Paid a 1/4 of there luxury car No personal mortgage Invest hundreds each week into investment accounts Probably used the va military loan benefit somehow cuz the hotel is also their primary residence? Bought a camper outright They’re doin fine folks
And on pace to 175k this year. Sounds great aside from the fact that they are risking it all not having health insurance. Talk about a poor choice to cut cost on when it can easily be afforded.
So, the Dad bought the hotel and realized it was a bad decision. So the son and his wife are using all their savings, Grandma, Dad and themselves to make it profitable. Got it.
I came to know Christ in jail in 2013 by reading a book, "Overcoming spiritual blindness" by James P. Gills MD. The veil was taken off my eyes. Heaven came through for me in my finances too, getting $35,500 monthly. I can support God's work and give back to my community. God is more than enough!
I Met Mrs Sandi Krakowski last year for the first time at a church program, where she greeted a friend of mine also a church member, and fortunately for me, we exchanged contact and got along. What God cannot do, doesn't exist" I truly believe this word 100 percent❤❤❤
So no staff and never closed equals working 7 days a week and long hours at that. Eventually thatll leave to burn out and the place will get sad. Need to hire helpers to learn the place and let you have a holiday, especially for the kids.
I instantly disliked this guy. No man should let his wife, who is a mother, go without health insurance. He didn’t let her speak and kept referring to “my son”. That’s a big no. Refinance this relationship, girl. It’s not working for you.
After paying staff, supplies, taxes, repairs, power, etc...it's not that much for a ball and chain job that requires you to work more hours than a regular job. No thanks.
$174k divided by 2 is 87k a year per person for a 12-16 hour a day, 6-7 day a week job. About $20-25 per hr depending on hours/days per week worked, with no health care benefits. Choosing an M5 over healthcare or using for investing shows you the financial intelligence level of these people. Also probably pulling every dime they can out of the biz, and not creating a reserve fund to major improvements that will be required over time, and general wear and tear on the rooms.
@@MrBandz718 obviously they need more than they currently make, if they can't/won't pay for health insurance. Driving an M5 means they likely treat themselves to lots of the good things in life, the likely can't afford to purchase. Probably ignore contributing to the retirement plan as well.
@@theboringchannel2027 I mean I get your logic maybe you're right. But to me it just seems like foolish narcissism. I would compare it to someone having a lot of money but opting out of having car insurance because they've never been in a car accident.
I fear they are leaving money on the table and need to raise the rates. I wonder if they are using InnRoads or similar software. If i was the manager my rates would be 5/1 to 6/15 $135.00 to $200.00. double occupancy 10.00 per extra person. 6/16 to 9/20 $200.00 to 250.00 10.00 per extra person. 9/21 to 11/01 135.00 to 200.00 10.00 per extra person. 11/01 to 4/30 85.00 to 100.00 10.00 per extra person. I get Cody is close by and I can't see their rates during peak season but if they are lower than this place then do flash sales throughout the day especially if rooms are not filling up through the software. If they are not renting even a 1/4 of the rooms in the winter i would shut it all down until May. Do a winterization of the rooms and what not but it comes down to what they make in the winter vs what operating costs are in the winter to decide that. Those 4 rooms for the railroad I hope they are charging a premium and have a rider in the contract that they can rent room if railroad workers do not show up especially in peak season.
Leave off on shaming her for not having health insurance, it's a calculated risk and one that many of us have taken! Roxanna and Chris, you guys are doing a great job building your dream and raising your son!!!
awesome story. as a suggestion, need better bed sheet viewing your story can work as an free advertisment for your motel so use it bank it. cool. much sucess.
average profit margin for a motel varies widely, but a general rule of thumb is that a healthy profit margin is around 10% so at least they're making $41,200 a year net.
![[#2024MAMA] BIGBANG (빅뱅) - 뱅뱅뱅 (BANG BANG BANG) + FANTASTIC BABY | Mnet 241123 방송](http://i.ytimg.com/vi/EQsYfiPR9uM/mqdefault.jpg)
What's your budget breakdown? We're looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: cnb.cx/32TYZ2K
Not having health insurance as a woman and a mother is absolutely insane.
probably has something to do with her biofield tuning activities.
She's 31 and appears to be in good health. She could get a very basic plan with a high deductible for $200-$300 a month. Instead that money is going towards her BMW. If she has a future medical emergency sadly her future health insurance policy is a go fund me page.
but they have a camper and a BMW 😂😂
@@jakem6076 wow, $300 a month for a barebones policy is wild. I don’t have insurance, had no idea it costs so much.
@@Slowly_succeeding It may be less.. Insurance company, location, age, health, and plan types, among other things, all play factors.
Please please change your mind about health insurance. Check ups are also about preventative care. If I were you two, I’d prioritize her health over the car payment. I know it’s expensive but your health is invaluable. Not to mention, if she’s cleaning the rooms, people carry germs and she’s inhaling chemicals often. It doesn’t have to be through the business. I had a decent ACA plan health/dental for $272/month. If you’re on track to turn an $81,000 profit, there’s gotta be room. Not shaming, just strong encouragement from someone young and healthy who got sick unexpectedly TWICE and was glad I had ACA healthcare.
Finally someone with a brain!
Healthcare in the U.S. is dystopian, hope it changes someday
Totally agreed about the necessity of preventative care. But the thing is, since 2019, there is no longer an individual mandate penalty. It makes sense for a young healthy person to go without insurance, just pay for health checkups out of pocket, and not enroll in obamacare until you finally develop health problems that bring high medical care costs. It's sad, but that's the way Obamacare works now.
No health insurance, but they bought a camper and BMW X5. Bro
Maybe she doesn't eat junk food, no alcohol, no smoking, only healthy meals, and regular exercise. Then she doesn't need health insurance. Health insurance is perfect for people who care less about their health so they can have something to fall on.
yep these comments all give me hope for humanity lol
@@realonebusinessschoolwhat about an accident?
@@anoukc6928 Careful people hardly have accidents
@@anoukc6928Or sometimes genetic.
This video was exceptionally informative. It’s shocking to me that a woman and mother could navigate life without health insurance.
The absence of health insurance is truly alarming. It raises serious concerns about financial priorities-choosing a luxury item like a BMW over essential health coverage is a glaring misstep. This approach exemplifies the risk of placing all your financial eggs in one basket.
A single serious illness can disrupt your life in an instant, threatening to unravel years of hard work and savings. Many people overlook the importance of sound financial planning, leaving themselves vulnerable. If you believe you can handle these complexities alone, I strongly recommend consulting with a financial expert who can provide valuable insights and help you create a robust strategy for a secure future.
Honestly, many people seem to overlook fundamental truths, forgetting the adage that health is wealth. When advised to seek a financial advisor, they often dismiss the idea, believing they can handle everything on their own. However, financial advisors are trained professionals who specialize in managing assets, properties, and life decisions.
It’s crucial to recognize that entrepreneurship should not be pursued lightly; a solid understanding of financial management is essential. Many wealthy individuals and multimillionaires employ wealth managers precisely because they grasp the importance of having expert guidance in their lives. Understanding and navigating financial complexities can make all the difference in sustaining and growing one’s wealth.
It’s quite astounding that she’s earning a substantial income yet has chosen not to secure health insurance. Prioritizing weekly investments over essential coverage is a questionable decision. It’s crucial for her to understand the long-term implications of such choices; she needs to be enlightened about the importance of health insurance in safeguarding both her financial and personal well-being.
With my demanding job, I often lack the time for investment analysis or personal development. However, for the past seven years, a fiduciary has expertly managed my portfolio, adapting to economic conditions and assisting me in managing my bills and insurance. This professional guidance has enabled me to navigate financial complexities successfully and make informed decisions. They have even suggested additional business ideas for optimizing my portfolio in preparation for my retirement plans. I highly recommend that others consider a similar approach; these professionals are well-trained and experienced, providing invaluable support for managing your financial future.
Thank you! Absolutely, we’re in an era where making smart financial decisions is crucial. It’s not just about working for your money; it’s about positioning your money to work for you. You can find my advisor online; she is government registered. Just research the name Kate Elizabeth Cressotti, and you’ll find the necessary details to set up a correspondence and arrange an appointment. That’s all there is to it!
Every family has that one person who will break the family financial struggle, I hope you become the one😊
Lucky for me to see this exactly at this moment, I have some money saved and set aside for investing but no idea how to do that
The amazing part of trading with a mentor is that I still go about my Job as usual
Drives an M class BMW but no health insurance for her? One health issue (does not even have to be major) and this could wipe them out...
She seems like a hippie chick who does not believe in it.
She is making a stupid decision
Seriously. One health issue away from ruining your business and life.
Right? Foolish
But also he 'invests' in cryptocurrency... so ... bad decisions are definitely being made
I understand Roxanna is young and doesn't think she needs health insurance but now that you can afford it it might be worthwhile for things like accidents (broken arm) or a sudden unexpected illness like pneumonia.
Or other sudden illnesses like cancer. I know someone who was just diagnosed. They were perfectly healthy before. Or something like a car accident. Never go without health insurance if you can.
and Autoimmunity especially for woman can creep in anytime
@@ProMakeupTV Do you mean like lupis? Not trying to scare anyone but it happens.
@@curiousnomadic yep woman have a higher percentage of autoimmune risk cause of hormone fluctuations and other factors that only usually happen to woman
@@ProMakeupTV Not sure I believe that but I have experienced it. It depends upon the individual person. I know just as much men who are allergic to ridiculous stuff like peanuts or who spontaneously get nosebleeds even in adulthood.
Me watching this video: hmm seems like a good idea
Chris: "My father bought this place from my grandparents"........
🙄🙄🙄 Back to the drawing board lol
No health insurance?😮 🤯I got in a car crash, spent a week in the hospital and the total was around $250,000
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
That's awesome!!! I know nothing about investment and I'm keen on getting started.
What are your strategies?
People dismiss the importance of advisors until they are burned by their own emotions.
I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
She's a catch! Good business! They didnt talk about how much lost from 2018-2022. Those years were obvisually the dark years, but they paid off the mortgage which is HUGE!
Hospitality-related industries brought in a decent amount from PPP funds. I’m sure these folks came out ahead since they were in an area with outdoorsy/socially-distant activities so their customer base didn’t completely disappear
Yike, she has no health insurance and yes she's young but one unexpected accident or illness will wipe them out. If necessary get a policy with a high deductible to keep the payments affordable.
omg I wrote the same thing.
So pay premiums and if something happens, pay a large deductible too, and likely coinsurance. That's better than just paying a medical bill?
@eldiesel4593 Is this your first time hearing about a HDHP bud?
I'm so happy I made productive decisions about my finances that changed my life forever. I'm a single mother living in Birmingham uk, bought my second house in August and hoping to retire next year at 41 if things keep going smoothly for me…,
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver
Please how can I get in touch with this coach Jihan Wu ? I really need to give him a try
Been free from debt for good 2 years thanks to Jihan Wu. It is very sad to see my friends in their 40s with car loans, mortgages and credit card debt
Thanks a lot....I have reached out to him.
The very first time we tried, we invested $14000 and after a week, we received $50,230. That really helped us a lot to pay up our bills.
Great hustle! I have seen Indian families build a fortune doing this. They would scale by hiring other Indian families to run the motel once they buy another one and repeat the process.
The fact that you can live at the place and do the work on your own is a huge plus. Congratulations on your success!
How these Indians even afford? How out bid other Americans ?
How come Indians not own every inn/motel in Europe also? Make even more money.
@@MbisonBalrogdifferent economy, policies, prejudices, etc
@@katies2067 but how have more money than Americans to outbid for assets? They come from poor country.
@@MbisonBalrog I used to work for a bank that would do those hotel loans, and my understanding is that due to India being a caste system, a lot of wealth stays within families which allows for the constant acquisition of new assets. For example, many people with the last name Patel buy hotels.
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
That's quite impressive! Can you share more information about your financial advisor?
Julianne Iwersen Niemann is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up.
I’ve just looked up her full name on my browser and found her webpage, very much appreciate this
I'll be honest, I gambled with not having health insurance after being laid off for 5 months now because I am trying to pay my bills to survive .. but finally bit the bullet this year and got on the exchange. I hate the cost of healthcare, when I'm trying to keep my house, car and put food on the table, but realize that one major health issue could bankrupt me for life. Our system is broken and nobody should have to choose to either have health insurance or to survive .. but the said reality is many people do.
You made a smart and secure choice! Nothing else matters except for your health in the end ❤
Excellent video but Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
You're correct!! I make a lot of money without relying on the government,
Investing in stocks and digital currencies is beneficial at this moment.
Life is easier when the cash keeps popping in, thanks to jeffery kathryn services. Glad she's getting the recognition she deserves
@@VullnetKola-el7pgWow! Kind of in shock you mentioned expert, Jeffrey Kathryn What a coincidence!!
Thank you Lord Jesus for bringing expert Kathryn into my life and my family, $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!
I'm 37 and have been looking for ways to be successful, please how??
Her choosing to not have health insurance is insane...one medical emergency and their money will be gone in a matter of months. People prioritizing making payments for a fancy car that depreciates in value over their health shows a lack of common sense and real priority. That kiddo depends on you being healthy not on some bank account being filled with money that can disappear fast.
Who cares, her choice.
Health Insurance is a must. Would rather drive a beater than to have my wife without health insurance. What if she gets cancer? Do you NOT know how expensive medical bills can add up?
Not having health insurance AND having a BMW is insane.
Would be interested in hearing why she doesn’t have health insurance ? A major medical bill would put a huge dent in their savings/investments
she has 200k in savings accounts i think she'll be fine
@@OhioPalmTreesyou ever hear of cancer or many other various illness? Take a guess at what that cost to treat?
@@OhioPalmTreesmedical costs can add up. If they want to retire comfortably with 2 million it’s still a risk. Best to play defense first.
No health insurance....that's a big no no
Thank you for sharing their story!
Prioritizing weekly investing over health insurance for your wife is bonkers. One hospital visit and those "gains" could be gone quick.
Yeah I was like did anybody hear him say that 200 to 300 weekly. Wtf.
Lady having no insurance, let alone choosing not to have it, is not a good move. For example, I used to think that I really didn’t need insurance because I really didn’t get sick or need it. But low and behold November 2023, I had to have surgery. Never had surgery before in my entire life!. That surgery ended up costing $35K. Moral of the story is that I had insurance that paid for it🤷🏽♀️.
You can get affordable surgery by searching for self-pay surgery centers. There's one in Oklahoma and the typical surgery is around $5-10k with no surprise charges. Health insurance is a racket.
A real life Rosebud Motel
OMG Ew, David!
@@DisposableSupervillainHenchman😂😂😂😂😂😂😂😂
Great video but CNBC can you stop with clickbait titles? They net 80-100k a year combined. Just the revenue number means nothing.
It's also the first year they are technically turning a profit on their business.
I often contemplate how elite investors manage to become millionaires through investing. I have a significant amount of capital that needs to be put to work, but I'm unsure about the strategies or approaches that will enable me to achieve good profits.
Before investing, I would highly recommend you to read a few books before. Books like Common stock and uncommon profits and the intelligent investor. They will help you a lot.
The market has gone berserk. irrespective of experience level, everyone needs a sort of coach at some point to thrive forward.
True, A lot of folks downplay the role of professionals until being burnt by their own emotions. I remember a couple of summers back after my lengthy financial setback, I needed a good boost to help my business stay afloat hence I researched for licensed financial advisors and came across someone of due diligence who helped a lot to grow my reserve notwithstanding inflation to 165%
How may I contact your licensed financial advisor as my portfolio is dwindling?
My CFA is Karen Marie Gendron, 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 aunt is an accountant at an hotel in california they are fully booked by immigrants and are payed above market prices. The government pays for any damages including soiled linens. They also have their own police officer on call for any trouble.
I love hard-working Americans that own and operate their own business. I would definitely spend my money at this motel if I am ever in the area!!
Not having any health insurance is not smart even if you're healthy.
Hello from Bucharest, Romania - a huge underrated city in Europe:)
We own a motel of the same size, and your purchase price was crazy low. I'm not sure if it's cause its a family transaction, but you can't go wrong with that. We've managed to increase our income too, just like you. Nothing beats being able to stay home with the kids, and have free time for just about everything. We wouldn't change anything about our situation, and I'm sure you're the same. As far as insurance, research samaritan ministries, or medishare. We had samaritan, and it was super affordable, and pretty good too.
Looks like a lot of work, nice to see that it's paying off! Best of luck to this lovely family
Take advice from a grumpy old lady from Florida. Buy yourselves IRA's. We did that and we never got into them ( couldn't ) and lawsuits can't get them only the I r s could get them and if you don't do tax tricks that's not a problem. We stayed out of ours ( forgot we had em! ) I am so glad we are over 59 and a half and we are still staying out of them for later! Bless.
$200k saved with no health insurance is a wild gamble. Kudos on the rest though
I think the only thing everyone got out of this video is that she doesn’t have health insurance. That’s insane!!!
Health insurance for her is so much more important than driving a BMW. All it takes is a serious illness and your lives will change in an instant.
Exactly! And that’s what I was thinking too. I ended up needing to have surgery last year, never in my life think I would get sick like that, but yep. That changed my life in an instant, you just never know.
I give them a lot of credit doing what they're doing. I wouldn't be involved with this type of venture, especially in a state like Wyoming. Not everyone can do what they're doing.
Buying the motel from his father is wild considering the father still works there. He couldn’t just make it a family business and all work together?
The father had a lot of health problems so it was too much for him.
I don’t think the dad owned the building he still has a mortgage
Not Your Family. You Should Do That In Your Family. Son Is Not Complaining. Entitlement Mentality 😂😅
@@AfricanUSA-th9ov Its just common sense though, why charge your own son to buy a property when they can all make money together? His son can take over all the overhead of operating the motel, the wife can contribute as much as she can while her parents can contribute in the household. The money he paid his father should have instead paid the debts instead. He could have eliminate the debts in one full swoop. Could have got a cheaper suv to pay off in full as well. Get health insurance than for his wife. Like its not entitlement, its common sense. I would have simply told my father to liquidate the motel if he can't afford the debt.
I like how in the US people buy property from their parents 😀
Hope they also charge them for staying overnight tho
Thought the same! They should charge for the food 😂
Always love stopping in Greybull or running when staying in Worland.
That baby is so Happy!
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Wow that's huge, how do you make that much monthly?
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I'm 37 and have been looking for ways to be successful, please how??
I earn from investing in the digital market with the guidance of (Ms. Evelyn Vera) Brokerage services. I'm happy to talk about it!!!
I remember giving her my first saved up $20000 and she opened a brokerage account with it for me, it turned out to be the best thing that ever happened to me.
When you're making that kind of money and you're a mom, not having health insurance is a huge risk. I would understand if you were poor and needed to hop on Obamacare but this is unresponsible.
Wyoming is all fun and games until you get blown off the road by the wind or your house is buried in a 8 ft snowdrift and you have to dig out. Ask me how I know.
How do you know?
@@arlohatcher4812 Born and lived until I was 10. Happy to be gone. Cousins stayed, made a fortune when the oil boom hit though. Got literally blown off the road when I was 6 with my mom in a Chevy Vega (had an aluminum block motor - very light). I've had to crawl out second story windows to get out of the house. It's harsh. There's a reason only 500k people live there.
@@markw999 honestly it seems like the move would be to run this hotel as a seasonal business during peak tourist season, then go live somewhere else for the winter.
Glad to see them doing well.
They found the ways of the Patel Motel business model
She is very much hard worker lady. There is not easy clean, wash everyday, lots of rooms.
425k a year and 22 rooms at 125ish a night…they’re empty almost 2/3 of the time. No way you would contract to keep 4 rooms open every night if there was a demand! Even at 85$ a night, they’re empty for more than a third.
She doesn’t have insurance, there is no regular salary, no staff…. They lie to themselves if they think they’re profitable!
Why would they need staff if the place is paid off and they only have to clean a fraction of the 22 rooms each night? Their main business expenses are maintenance and utilities.
Very informative but sounds like a tough industry
*Your explanations are clear and straight forward It's always a honor to have you here as a mentor, I appreciate you for the time being spent to educate us financially. Regardless of how bad it gets the economy, I still makeover $28K every single week. I truly value Mary, and her helpful guides.*
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
You just mentioned Expert Mary, Indeed, wow that woman has been an incredible mentor to me, imparting a deep understanding of the economy that I wish college had provided.
I know Mary, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
Interesting! But I'm new here. How can I get to this person's guidelines??
She mostly interacts on Telegrams, using the user-name,
No health insurance? WTF!? Also, talk about putting all your (financial) eggs in one basket.
Choosing not to have health insurance is nuts. If you get in a car accident, develop a congenital condition or anything unexpected you will be screwed. Its reckless and irresponsible
I guess, doesn't sound like a it would be a profitable business if there was a housekeeping staff or property manager
Greatest transfer of wealth is happening
Hospitality has always been a good business but this family makes it look more attractive to invest in
I've been an investor in Apple, gold, housing market as well because I strongly believe in them, I've always believed in the stock but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla especially now that we are experiencing a market correction
Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one
Gabriel alberto william is the licensed advisor I use. Just research the name. You’d find necessary details to work with.
I just checked him out on google, I have sent him an email and I hope he gets back to me soon
SCAM
I think that hiring a manager and then buying another motel with investors and building that out might be a good idea for them given that they have paid off this one motel. Basically take the cash flow from this motel and invest it into another. Motels generally give 15-20% return which is better than their stock investment. Plus they have an edge here
I wonder if they’ve ever priced having a commercial laundry for all the sheets and towels.
It’s likely being in a remote location it’s either not available or cost prohibitive. A friend runs a BnB, he said it’s cheaper and more convenient to do his own laundry-though he hates it.
Why? If They Can Do It On The Premises. They Are Very Smart 😅😂
@@lucaswiredin Oh, I get that. I just wonder if they’ve ever gotten a quote for the buy vs rent decision.
@@AfricanUSA-th9ov it’s a LOT of laundry. He is basically doing laundry all day every day. It’s tedious and annoying. But that is what he chose when he bought the BnB.
Motels typically have a 60% margin so i estimate they take home about 250k . I believe they work full time on this ? So essentially they are getting paid 125k each. Not bad.
$174,000 combined income for a family is really not much, especially the way they are spending their money on expensive and unnecessary vehicles and taking on more debt. There's a reason why most family owned motels died out in the first place and the only way people actually make sustainable money off of them these days is by owning multiple. Glad they are doing well enough now, but they are living an extremely risky life style and if their child does not take over, they will soon have to pay people to help them with running the motel. Even the Dad acknowledges that their family would have lost the motel if the he didn't buy it from Grandpa because Grandpa couldn't' handle the work load anymore. Also, seems like there are some unspoken feelings on the husbands part for how they came to own the motel, he didn't like working there as a kid and he made it sound like his wife forced him to do it because that's what she wanted to do. I'm curious to see where they'll be at in 10 years.
Thanks for continuing updates and for keeping us financially Educated! Regardless of how bad it gets on the economy, I'd rather trade the crypto market as it's more profitable than holding. I made a Hundred thousand dollars from trading last year even though I barely trade myself.
I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please.
Trading without professional guide... Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Mrs Sonia Dixon was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Sonia Dixon.
Sonia Dixon's analyzes go beyond superficial trends. It delves into technical, fundamental and sentiment analysis, providing a holistic view of the market.
I and my brother are favoured financially, Thank you Sonia Dixon. $32,000 weekly profit regardless of how bad it gets on the economy
That’s why people shouldn’t push entrepreneurship unless it’s your passion. I make 300k as an employee and they probably work way harder and I have insurance
Welll...but you will always be a worker and not a boss....there's a difference
You also are beholden to whoever employs you and your income is entirely dependent upon them continuing to employ you. They can take you from $300k to $0 instantly. With entrepreneurship, you have more control over your own destiny.
I wished we had motels in the uk instead of spending alot of money on hotels for a short stay
Lovee this!!!
Honestly I would sell! Get a job where you wife has health insurance! That’s insane! Really?.
Agree, consider they make $175k both combined and with huge investments
Or just pay for health insurance
@@Zher-o7r the insane thing would be selling a business that you enjoy running so that you can go work a W2 job you hate 🤦♂️
Paid off hotel in 3 years
Paid a 1/4 of there luxury car
No personal mortgage
Invest hundreds each week into investment accounts
Probably used the va military loan benefit somehow cuz the hotel is also their primary residence?
Bought a camper outright
They’re doin fine folks
And on pace to 175k this year. Sounds great aside from the fact that they are risking it all not having health insurance. Talk about a poor choice to cut cost on when it can easily be afforded.
81k…might as well go to work.
This is work.
81k in Wyoming is pretty decent... in San Francisco or NYC, not so much.
So, the Dad bought the hotel and realized it was a bad decision. So the son and his wife are using all their savings, Grandma, Dad and themselves to make it profitable. Got it.
I came to know Christ in jail in 2013 by reading a book, "Overcoming spiritual blindness" by James P. Gills MD. The veil was taken off my eyes. Heaven came through for me in my finances too, getting $35,500 monthly. I can support God's work and give back to my community. God is more than enough!
I'm 38 and have been looking for ways to be successful, please how??
Every one of my prayer requests is about to manifest in the Name of Jesus I receive and connect with this message in Jesus' Mighty Name Amen 🔥🙏
Sure, the investment-advisor that guides me is...
Sandi Krakowski
I Met Mrs Sandi Krakowski last year for the first time at a church program, where she greeted a friend of mine also a church member, and fortunately for me, we exchanged contact and got along. What God cannot do, doesn't exist" I truly believe this word 100 percent❤❤❤
Why do they sound so miserable? Her not having health insurance is nuts!
So no staff and never closed equals working 7 days a week and long hours at that. Eventually thatll leave to burn out and the place will get sad. Need to hire helpers to learn the place and let you have a holiday, especially for the kids.
The schematic didn’t show taxes, which were small business or anywhere between 30 and 45%.
I instantly disliked this guy. No man should let his wife, who is a mother, go without health insurance. He didn’t let her speak and kept referring to “my son”. That’s a big no. Refinance this relationship, girl. It’s not working for you.
After paying staff, supplies, taxes, repairs, power, etc...it's not that much for a ball and chain job that requires you to work more hours than a regular job. No thanks.
$174k divided by 2 is 87k a year per person
for a 12-16 hour a day, 6-7 day a week job.
About $20-25 per hr depending on hours/days per week worked,
with no health care benefits.
Choosing an M5 over healthcare or using for investing
shows you the financial intelligence level of these people.
Also probably pulling every dime they can out of the biz,
and not creating a reserve fund to major improvements that
will be required over time, and general wear and tear on the rooms.
How much money do you need if your place is paid off and you have savings? I agree that not having health insurance is a bad idea though.
@@MrBandz718 obviously they need more than they currently make, if they can't/won't pay for health insurance.
Driving an M5 means they likely treat themselves to lots of the good things in life, the likely can't afford to purchase.
Probably ignore contributing to the retirement plan as well.
@@theboringchannel2027 I mean I get your logic maybe you're right. But to me it just seems like foolish narcissism. I would compare it to someone having a lot of money but opting out of having car insurance because they've never been in a car accident.
If you can afford a Mercedes, you can afford health insurance!
Sell the business when you retire and move to Costa Rica. Open up a small motel there. 😊
I used to live right near this!
I fear they are leaving money on the table and need to raise the rates. I wonder if they are using InnRoads or similar software. If i was the manager my rates would be 5/1 to 6/15 $135.00 to $200.00. double occupancy 10.00 per extra person. 6/16 to 9/20 $200.00 to 250.00 10.00 per extra person. 9/21 to 11/01 135.00 to 200.00 10.00 per extra person. 11/01 to 4/30 85.00 to 100.00 10.00 per extra person. I get Cody is close by and I can't see their rates during peak season but if they are lower than this place then do flash sales throughout the day especially if rooms are not filling up through the software. If they are not renting even a 1/4 of the rooms in the winter i would shut it all down until May. Do a winterization of the rooms and what not but it comes down to what they make in the winter vs what operating costs are in the winter to decide that. Those 4 rooms for the railroad I hope they are charging a premium and have a rider in the contract that they can rent room if railroad workers do not show up especially in peak season.
Leave off on shaming her for not having health insurance, it's a calculated risk and one that many of us have taken! Roxanna and Chris, you guys are doing a great job building your dream and raising your son!!!
Whatever but she brought a camper cash...make it make sense grandpa
The amount of immoral things that likely go on in your motel.
Wha t,?,?
This motel is almost $150 a night? Probably over after taxes - why would anyone stay here at these rates
How we looking after taxes
awesome story. as a suggestion, need better bed sheet viewing your story can work as an free advertisment for your motel so use it bank it. cool. much sucess.
The business pays for all their personal things.. insurance cheaper as adult plus 1 kid... instead of family plan
amazing.
Great video.
Is it not small business 101 to give yourself a paycheck?
All of that money, SHE chose not to have health insurance. Wow, feels like a setup.
Mommy and daddy bought them a hotel? Must be nice.
Family built motel for Veteran dad with disabilities wo can no longer run it and he sold it to Chris.a veteran
wife should really try to have insurance. It can break your family if you don't have one.
I don't believe that monthly food budget, not adding up to me.
CAP SHE A MOTHER THE STATE WILL GIVE HER HEALTH INSURANCE
bro what 100$+/day ?? crazy
$ 412k revenue, what about costs?
Is that gross or profit?
3:01
gross
average profit margin for a motel varies widely, but a general rule of thumb is that a healthy profit margin is around 10%
so at least they're making $41,200 a year net.
@@cosmeticscameo8277it says they're taking home 170k
MEDICAL DEBT CAN BE NEGOTIATED. STOP FEAR MONGERING ABOUT IT IN THE COMMENTS, IDIOTS