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40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $900k, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
Kudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?
My financial literacy started early. I owned my first shares of stock in elementary school and my mother was the custodian. She was part of an investment club and she explained the basics to me. Her philosophy was simple...buy quality at a good price and hold onto it.
Yep, first gen Chinese American here, Check all of these boxes and well beyond. My parents and I came from Shanghai, a family of scientists, engineer and business owners. Financial literacy runs in the family. My parents were saving 50% even when our family of 3 lived on my father's graduate student stipend of $900/month. They became multimillionaires and retired after only working 25 years. My wife and I, with 3 kids, almost caught up with their wealth now in our 40s. Just waiting for my kids to get into universities, and we will retire once they finish undergrad.
If you’re paying for their colleges here in America, you can have them take CLEP and DSST exams (at any age) to help them get through college faster and cheaper!
I have a regular job, a side income with another employer, a home business that generates royalties, and interest/dividend income. When your side gigs pay your bills you can stash 20%, 30%, 40% of your "real job" in a tax-advantaged retirement account.
I use savings & services as passive income. I had a lot of cash to throw at it so it is substantial and not volatile. I say pay taxes now. Cash is king.
Watching this video, Why Net Worth Skyrockets and How to Invest $1,000.00. Have been more than informative - quite motivational. Thank you for explaining with clarity and encouragement. ❤
I’m thankful that I put $100/week in my stock portfolio. I’m hoping to grow it enough to pay all my bills and my working income is for any of my vacation plans.
With the inflation in the world im having a fomo of not investing enough and fear that i have no money for retirement.....i live in Singapore our dividend stocks are not taxed as income. (Its also not considered as income for home loans either 🙃🙃)
I’m a god of devaluation, I buy it and it goes down! Why I can't make earnings is beyond me. It can be annoying how volatile the market is. How can I ride this fresh wave of all-time highs without getting burned again with $450k set aside to get fully invested this year?
I think the whole thing about holding stocks for long term will always apply. So I think you should get a quality broker who is able to analyze and pick stocks that will do well in the long term, else you will be in a long bear ride.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Most of the videos like this I have to adjust them to my circumstances. I just moved to the country and it’s really hard to find videos more related to my situations. This just make me feel like I’m 20 years behind 😂
I live in London, UK. I use all the tax savings accts and have maxed out my pensions. I save/invest around £35k a year and total savings of £190k. My husband on the other hand is the complete opposite, spends more than he earns and has huge credit card debts. It's been an issue for us. 😤
Hi Alice, got a little question. A canadian wins 10 million$ at the lottery and invest it. He doesn't want to pay taxes on his earnings so he decides to apply to not be a canadian resident and travel full time. Only keep his passport and turn his RBC account to (non-resident) one. If he keeps his money in the non-resident RBC account will he be subject to taxes on the interest earnings? If he leaves canada and take his earnings oversees, is lotto winnings going to be subject to departure tax. Thank you for your time!
I am not doing better than I think since I make less than minimum wage after taxes and am living out of my car. Can't find find a job to replace for hourly income and can't afford to learn new skills. Guess I'm fucked 🤷♂🤷♂
Having a reliable stream of income--at least, enough that would make a material difference--from dividend income would require hundreds of thousands of dollars in capital. I don't disagree with it, but, it's not realistic for most people especially if they're under 50.
If I stop working today , my wife and I can live with the same lifestyle for at least 20+ yrs. If I decide to sell my buss, I'll get another 4-5 yrs. But we still work , so think 3times before you quit your job ! 🤫 I'm 34, wife is 30 btw !
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40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $900k, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.
Kudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
My financial literacy started early. I owned my first shares of stock in elementary school and my mother was the custodian. She was part of an investment club and she explained the basics to me. Her philosophy was simple...buy quality at a good price and hold onto it.
Thumbs up for wearing the Costco sweatshirt. 👍 Just retired at 56 years old after 37 years working for Costco.
I’m at Costco now, great company :)
We love Costco! :) Thanks for watching
Yep, first gen Chinese American here, Check all of these boxes and well beyond. My parents and I came from Shanghai, a family of scientists, engineer and business owners. Financial literacy runs in the family. My parents were saving 50% even when our family of 3 lived on my father's graduate student stipend of $900/month. They became multimillionaires and retired after only working 25 years. My wife and I, with 3 kids, almost caught up with their wealth now in our 40s. Just waiting for my kids to get into universities, and we will retire once they finish undergrad.
@@xiphoid2011 haha, sounds very similar to my upbringing as well. Thanks for sharing :)
If you’re paying for their colleges here in America, you can have them take CLEP and DSST exams (at any age) to help them get through college faster and cheaper!
I am 32 and I checked every point you listed 🎉. Great video!
Glad to hear, thanks for the comment!
I have a regular job, a side income with another employer, a home business that generates royalties, and interest/dividend income. When your side gigs pay your bills you can stash 20%, 30%, 40% of your "real job" in a tax-advantaged retirement account.
that's awesome!
I use savings & services as passive income. I had a lot of cash to throw at it so it is substantial and not volatile. I say pay taxes now. Cash is king.
Good content, thank you!
SM comparison can be toxic. Thank you for this positive message.
yes for sure
Watching this video, Why Net Worth Skyrockets and How to Invest $1,000.00. Have been more than informative - quite motivational. Thank you for explaining with clarity and encouragement. ❤
@@karamos6228 thanks for watching!
Thank you for the valuable information
I’m thankful that I put $100/week in my stock portfolio. I’m hoping to grow it enough to pay all my bills and my working income is for any of my vacation plans.
@@vincentong3745 that’s awesome!
I like your set!
With the inflation in the world im having a fomo of not investing enough and fear that i have no money for retirement.....i live in Singapore our dividend stocks are not taxed as income. (Its also not considered as income for home loans either 🙃🙃)
Thanks for the comment! Would love to visit Singapore one day!
I think there’s a lot of people that are stretching the truth about their finances
I’m a god of devaluation, I buy it and it goes down! Why I can't make earnings is beyond me. It can be annoying how volatile the market is. How can I ride this fresh wave of all-time highs without getting burned again with $450k set aside to get fully invested this year?
I think the whole thing about holding stocks for long term will always apply. So I think you should get a quality broker who is able to analyze and pick stocks that will do well in the long term, else you will be in a long bear ride.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
This sound interesting. I’m not really one to use pro analysts, but I guess it would not hurt to try one. My portfolio is in the red waters right now
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Simple, risk tolerance, asset allocation, DCA. All basic stuff.
Most of the videos like this I have to adjust them to my circumstances. I just moved to the country and it’s really hard to find videos more related to my situations. This just make me feel like I’m 20 years behind 😂
I live in London, UK. I use all the tax savings accts and have maxed out my pensions. I save/invest around £35k a year and total savings of £190k. My husband on the other hand is the complete opposite, spends more than he earns and has huge credit card debts. It's been an issue for us. 😤
Haha aw that happens. Best of luck to you!
What video's up top?
Median Credit card debt please instead of Average
If I have dividend income but it's always reinvested, does that count as income or not?
@@CarlWong5 yup it counts!
Are you from Wisconsin? They way you said bag sounded like a Sconnie
Canada
Hi Alice, got a little question. A canadian wins 10 million$ at the lottery and invest it. He doesn't want to pay taxes on his earnings so he decides to apply to not be a canadian resident and travel full time. Only keep his passport and turn his RBC account to (non-resident) one. If he keeps his money in the non-resident RBC account will he be subject to taxes on the interest earnings? If he leaves canada and take his earnings oversees, is lotto winnings going to be subject to departure tax. Thank you for your time!
Email me at hello@alicecee.com if you need a professional response to this
I am not doing better than I think since I make less than minimum wage after taxes and am living out of my car. Can't find find a job to replace for hourly income and can't afford to learn new skills. Guess I'm fucked 🤷♂🤷♂
Having a reliable stream of income--at least, enough that would make a material difference--from dividend income would require hundreds of thousands of dollars in capital.
I don't disagree with it, but, it's not realistic for most people especially if they're under 50.
Thanks for commenting!
If I quit today I won’t need to work for at least 3 years without changing my lifestyle 😊
Please don't quit, 3 yrs go by very quick :)
@@QuangWynn2711 I’m not, I’m just saying
If I stop working today , my wife and I can live with the same lifestyle for at least 20+ yrs. If I decide to sell my buss, I'll get another 4-5 yrs. But we still work , so think 3times before you quit your job ! 🤫
I'm 34, wife is 30 btw !
That's awesome!
Get popularity everyday million followers post viral reels viral all social media ❤ you start podcast sister your content great 🎉
64.000 dollars in average per year 😂😂😂 how you get to that number, you don't included McDonald's etc. employers ?
I'm guessing all the billionaires are pumping up the average figure
@droketheroper I agree with you. There is a big difference between mean and median income.
Completely agree. I would “Guess” the average per year would be like 37,000$ annually for most.
I remember seeing a stat that like 75% of people made less than 52k a year
@@Bamapride1985 In 2022, the median income in the US was approx $37,500