Bruh Im 15, kids my age are trying to get a perfect 800 on the SAT reading. and here i am trying to get a perfect 800 credit score. Thanks to this guy. what am i doing with my life
Kuuryo I highly doubt it, interest rate have to stay low otherwise the feds will owe to much on that massive debt they have now days. Look around Europe and their negative interest rates.
Just buy meat, make jerky out of it and vacuum seal it with O2 absorbers and stick it in the fridge (to prevent botulism). Meat's gone up around 35% in just a few months, so by 2021, it'll probably be 3,000 dollars for a slice of steak.
i am 46, and only started about a year ago or two to really care about my savings . I had been doing "normal" things that most of us people do, buying too much car, spending small amounts (but many times) on very silly things and so on . So now I have a bit over a year worth of salary saved in cash, and i feel so much better than when i had virtually zero in my bank accounts . But it hurts me very much to think that had i started 20 years ago, i would have been in a much different position right now . But hey, better late than never !
I had to start over at 48, and in 12 years managed to get $450k in savings, paid off all bills (including kids' college) and my house is owed less than 8k. It can be done! good luck!
@@e-spy damn , that’s a lot of saving power in 12 years . I am trying to grow my side jobs to increase the income flow but I would not be able to save as much as you did . If I do a great job I might save 15k (euro) to 20k a year . But that’s enough for me . You did an amazing job .
@@albertobenelli Thanks, but keep in mind the market was doing really well the last 10 years. Most made at least 15%, but I did pay attention and got around 45% on average. I saved 25% of my salary for investments, another 25% into savings. The rest went to pay down debt, so I bought nothing. My car is 18 years old, for example, but runs great. I knew I had to get it together if I ever wanted to retire. The sacrifice was worth it, though I now have a reputation for being too frugal, lol.
@@e-spy I think you did an amazing job and pesce of mind has no value . I have to say my savings are now growing at an exponential rate so i might be surprised by how much I might save in the next 10-15 years . After a very strict beginning now I decided to let go every now and than to spend some extra money on a nice night out with friends or with my daughter . If a month I save a bit less than average, I save more the following month . It must not become an obsession either . Thank you for sharing your experience . I wish you a good day .
Lol I'm 25 but the same situation. Saving about 2/3 of my monthly income ($3,200) and investing consistently, but there's really no shame in it. You're doing the right thing by living at home as long as you aren't too much of a burden on your parents. Times are different, there's really no reason to move out in your early 20's if it means you'll be burdened by rent or even mortgage payments. In my opinion (depending on how much you're earning) buying property isn't always the best move if it means most of your paycheque will be going directly to home equity and interest. It could easily inhibit your ability to build multiple streams of income if you make that leap too early.
The retirement fund that my husband and I have built up is doing quite nicely. The majority of the money, which averaged roughly $2 million, was made by taking advantage of the opportunity to purchase luxury stocks at a significant discount during the Great Recession. 2009 saw my stockbroker fired, all of my mutual funds liquidated, and I purchase individual dividend stocks. You can succeed if you are patient, don't panic, and do your homework.
Also, Stay in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised more than a million since 2021. Just bought my 3rd property for rental. Credit to Brianna Mckee Harris.. my Investment-Adviser. Most likely, the internet should have her basic info, you can research if you like
@@AmFaucher255 I just googled her and I'm really impressed with her credntials; My portfolio has been down bad, I reached out to her since I need all the assistance I can get.
@@AmFaucher255 Very true I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
Given that only 41% of people enroll in college, and the average also includes all the people who didn't go to college, so it sounds like you're doing pretty well (if you went to college)
You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.,,,,
I followed Graham's advice and my credit score went from around 350 up to 720 within a couple months. Now it's 745. 800 here I come! Oh and I was just approved for a home loan!
awesome video We all aspire to financial security and a better quality of life. With the correct investment, modest lifestyle, and planning, accomplishing this is not difficult. I'm pleased I was taught to work hard for financial independence at a young age.
My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. Yet, investing can be challenging and dangerous if done alone. For this reason, I suggest getting professional assistance (financial advisors). The problem is effectively applying it, not merely watching videos and reading investing books.
@@Brittany-reeds Sincerely, I'm genuinely moved by what you said. I have a sizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
@@Victoriataylor5668 As an OAP with extensive experience, I firmly think that having the appropriate information is essential to the success of any investment. Regardless of what others may say, do whatever you set your mind to. Warren Buffer frequently advises, "Be fearful when others are greedy, and greedy when others are fearful." The secret to succeeding even while others fail is undoubtedly this. Working with financial advisor ALICE ELAINE HAYHURST, I earned $100,000. So far, working with her has been a promising experience.
That’s great saving and all but don’t be scared of debt when it can make you money.. 21yo here.i have 2 properties I owe $340k total on that are worth roughly 400
That’s not really how it works. Just because you have a Stem degree doesn’t mean it’s easier to get a job or that you’ll make a lot of money. Some of these career fields have too many people compared to the amount of jobs
@@VeggieBob7 just graduated as an electrical engineer in the worst pandemic and still got a job within the first month of looking. Thank God 🙏. STEM FTW
I was 17 working ToGo orders at a Texas Roadhouse during the summer of the pandemic and the tips were really good, I also hardly spent money since everything was still restricted and I lived at home. I focused on my schoolwork as well, fast forward at 19 I currently have 18k in savings and will have no student loans since my merit scholarships cover tuition (in school for nursing). I’m paying rent with a roommate right now, but hopefully next year I can find my own place to share with my partner! My goal right now is to start saving into a Roth IRA account, and build credit!
If u are a refuring to a partner as a woman, DON'T. Every experience I have EVER seen in the last 20 years puts them in the cost side. Women are not built how the were 30 years ago.
a little update and clarification: I am the woman in my relationship and my partner is my boyfriend, who is in school for mechanical engineering. I decided to pursue two degrees since my merit scholarships cover all of my tuition and I thought 'why not.' I have a little over 19k saved now, some in investments as well, and a credit score in the 'very good' category. We are planning to wait to live together since it is very expensive in my city and we are on the younger side, but we are overall still going very strong
@@asamr4782 If this is true good on you. You clearly understand how debt works and unlike most women (I am sure if you think about it you will agree) you two will do good in life. I am sorry for the current state of the economy, I have a daughter who is 20 and I feel bad for all the uphill battles young people will face because our government has been stupid for the last 25 years
I wish you would get involved in designing High School financial literacy courses. I am old enough to be your Mom and I am a teacher but enjoy watching your videos and I truly think that teenagers would respond to your energy and knowledge.
Hey I’m a president of a non profit started by teens if you’re interested in getting students at your school into finance the stock market or even real estate I would recommend starting a branch the club is expanding all over the world this year. It’s called CASH Club Corp if you look us up you can find a lot of information. - Brian
Dave Ramsey allready does, and it’s taught in more than half the high schools in the country now. That’s why Dave Ramsey’s net worth is over 300 million
I'm 48. March 2020 I had 0 saved. Today, I have over $20k invested, thanks to Graham and others. I had a bunch of collectible crap I sold off (amazing how many eyes were on Craigslist during covid) and put a $1000 a month of money I was really just pissing away. I'm laser focused now. I think I can do $2k a month from here on out for a while (maybe the next 5 years). Sorry honey, no traveling for a bit. Covid makes saving a lot easier. Thanks Graham for your no BS videos that provide so much great information and get to the point.
Hey man, I suggest you invest in Aston Martin, I predict over 1000% increase in the next 5 years. Analysts have yet to catch on to their recovery potential but its an area I have followed very closely for years. Do your own research though.
A year ago I was 20, had no savings, no investments and was constantly stressed about bills and over drafting my checking account. In the last six months I've got two high-interest savings accounts along with an emergency fund saved up, making money on my investments and am building my credit score. Thanks Graham.
Teresa Jensen White is one of the best mentor/trader I have ever worked with in the past few years, she knows how best to deal with whatever market situation.
No she's not!... TH-cam is a public place; i can't drop her information here but You can just put her name on google and you will be directed to her website and drop her your message.
@@johny9567 because instead of community college they go private due to bad grades not getting a scholarship or some such and want to live on their own. meaning rent. in cities like nyc a year of rent will put you down that rabbit hole even with a job. its a slave trade there. solve the rent problem you solve the student loan problem. meaning you need to destroy the rental and property value market. or raise min wage according to rental and property value market. imagine getting 5-10% raises? lmao. min wage if they want to be fair in a ratio should be tied to the rent + property value market averaging it out. kids getting creative living in their cars to avoid rent because rent is too damn high aka property values are too damn high and needs to crash to 3x income.
Bester Mitarbeiter Mhmm exactly. I live in Sweden and Im 16 so when I go to university it will cost exactly $0 lol. 32% in taxes is actually worth it hiho!
@@noahhuss8260 fools already did. And those that now say well you cannot complain anymore. as double standards they suck. I go where my job goes if no job no way will live in those cities. Meaning this if there are no jobs that pay the required rent being 1/3 income or 3x prop value the companies and Bus can all just go f themselves. It used to be as an owner of slaves you'd need to pay for their shelter food medicine. Now it's far far gone from that even. Owners find it cheaper to pay min wage than owning slaves. Like wow.
Guess I’m going places I’m 19 have 15k invested and 5k in my bank act and I’m stressing balls worried what I want to do with my life just working till I get a idea haha
Get a job dog, get ahead of the curve. You could easily have enough for a 20% down payment on a house by 18 if you spend minimally and work the legal limit (or a full-time side hustle)
My family and I are first generation immigrants. My parents never taught us about investing, little about savings. It was about survival for us for a long time. I wish I knew about all of this a decade ago so that I could have planned and started. But your channel is opening up a lot of opportunities and new goals for me Graham. Thank you!
Im 20 with 50k saved. 0 debt. I live a debt free lifestyle (a part of the FIRE community), started working multiple jobs since 13. Now im 1 year away from graduating with my undergrad in comp sci debt free thanks to hella scholarships. I was raised a by 2 dave ramsey fanatics, so we follow the baby steps religiously. I always had an emergency fund set aside for myself. I started investing at 16 between mutual funds and roth ira. I plan to get into my 401k next year upon getting a fulltime job once i graduate and really plug ahead on investing more. Saving up for a duplex/multi family home to start that passive income, and have 5 side hustles/income streams at the moment. Live below your means, save 50% or more your income, keep expenses low, live frugal, say no to debt, and INVEST AS EARLY AS POSSIBLE. Its channels like these that motivate you to reach your financial goals.
@@goaliedude32 Yeah especially the scholarships part. I applied to probably 50 or so scholarships. Didn't get a single one. The only scholarship I had was offered by my school that was basically canceled out by the rise in tuition. I also go to an instate engineering school while already being a year ahead in my program (to save money lol). Rippp
Currently 24, saving 80% of my salary. I know this would be nearly impossible if I weren’t living with my parents though. Still, even if I were living on my own, I would still be saving 60% so feeling pretty good about myself.
2020 has been eye opening for me. I’m 22 and this year I’ve created a budget to live as frugal as possible. I also am looking into passive income options and started investing. The idea of being more financially stable than my peers makes me happy 😃
Starting in my twenties, I put away $50 a week as an emergency fund. So when an unexpected expense (ex. dental) came up, I would pay with a reward credit card, then I would dip into my emergency fund to pay the balance in full to avoid paying interest. 😀 Doing this avoided some stress in my life!
Glad I was thinking like this when I was in my 20's. House paid off two years ago and have almost 8x my annual saved at 40 with zero debt. I do hear from many though that I have not done well for myself since I don't work a white collar 9-5 job.
I opened my first credit card in January 2019 when I was 20. By just buying a few things every month and paying it off in full, my credit score is above 750 just as potential landlords are screening for good credit score. I feel extremely lucky to have made the decisions I did and even luckier that I was free from intense financial pressure during this time. Good credit is easier for some than others, but everyone should try to get better!
Same. Got my first card at 19, and my credit score has been in the upper 700s for the past 8 years. It's weird that I can't sympathize what it feels like to have bad credit.
Amazing to know you mentioned and recommended Mr cristian , I thought I'm the only one trading with him.The best decision I ever made in my life was investing in financial market with a professional broker Expert Mr cristian AP. Trust me guys he will explain for you to undrestand the market strategies befor trading in it.
I have $7,850 saved , I be beating myself up because I don’t have more than that contantly feeling behind..until I read these comments,I believe in y’all success and I’m immigrating with all this. So if you can do it, I can do it too..I just drop a message for him hope he reply me. THANKS 🙏🏻
I mean congrats on saving, but let's be realistic here: someone in their 20's with 30k debt and a STEM college degree making 70k+ a year fresh out of college is in a comparably better situation than someone the same age with no debt, no degree, and only making minimum wage. It's okay to invest in yourself.
Thanks awesome! Don't be afraid to invest in yourself, I have spent $12k in education so far but I am able to use that education to make more than $40k a year (with only a high school diploma well working on my college).
Yeah, all the videos that say live within your means don't take into account the money you get when you are older. Permanent income hypothesis, consumption smoothing are not talked about at all. Why live in misery young and be rich and old?
Here Here! I blew most of my opportunities in my 20's dealing with severe depression but started to turn things around at 28. Hauled butt working 2 good paying jobs, paid off $10K CC debt in 5 months. Now at 30 I own a condo that's a 5 minute drive to the office and doing amazing things at work and management has noticed. You're videos Graham are an inspiration and very helpful!
I came to the U.S when I was 18 without knowing nothing about credit scores, went to higschool, to college and did not learn anything about credit scores. After 15 months of watching your videos I able to increase my credit score and secure a 2.5% mortgage loan after learning from your videos. Thanks Graham.
Great Video Mav! Maybe make a video on potential investments in this current market that would fetch substantial profit, been coming across articles on bloomberg, business insider etc about folks raking in $200K averagely in 6weeks using some sophisticated strategy and I'd love to know how.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@Dan Brooks My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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
@@kenanporubsky2122 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.
Graham you are my favorite TH-camr and I have been watching you for 2 years. I’m a ten year old my dad is also a realtor but he is based in The Santa Clara County. I always ask him and my mom about all the stuff you talk about like tax write offs, boosting credit scores, saving money and etc. I love your TH-cam channel and think you are one of the best business youtubers. I want to help my dad flip houses and pass out flyers. I already made 470 dollars on the stock market from all of my birthday money and I saved all of it. If you reply that would be so amazing because I really want to here your opinion on my story. I am ten years old and I love your TH-cam channel and think that you are a very intelligent person.
While it would have been better to realize 8 years ago, you are a solid 15-20 years ahead of most and time is still on your side that you can invest a decent amount in good growth funds and it'll grow like crazy before retirement. If younare making under about 55-60k (singlel you should definitely invest roth. Max that $6k per year, and more into 401k if you can, you will be set when you are 55-60 even if you never become a high earner
Nice. I really started saving/investing at 30 (now 37), so you're a few years ahead of me. Things that really helped me were mint for tracking my spending and wealthfront for introducing me to investing in a hands-off way that kept it from feeling overwhelming.
There’s a show called the “money guy show”, they’ve been covering this for a few years now. They even mention you a couple of times, (they see you as a great mentor). But their numbers by age are higher and always mention the power of compound interest, so $1 spent as a 20 year old is $80 wasted when you turn 60. You should check them out.
As a 18 years old, I'm glad to have found your channel long ago. The day I was 18, I got a credit card to build up my credit score. I invest money as you said. I mean, in my last year of high school, my "finance" teacher should have put your video in front of the class instead of him. I'm grateful. Thank you Graham!
My only complain is that I didn’t find you sooner. Crazy how within just a few videos my mind set has changed in the way I view things. I would always blame school and parents for not teaching us the things we really needed to learn. However as an adult is our responsibility to go out and learn it. Thank you for all the advice you have shared with us.
I've begun tracking my net worth over the past few months and I believe that you need to start tracking the stuff that you want to improve on. I'm already up!
Same! I used to look at what's in my bank account, but then my student loan wasn't included and whatever creditcard payment that was incoming wasn't either. It really helps :)
most people??? come on do door dash if you have free times. dont be lazy, if you are single then live in the room cheaper than a apartment, learn to cook. lot of way to save money. infact im saving from 100% from my 2 job (door dash and restaurant) my tips are literally cover my expends. house paid off. just work your ass off for 10 years then you are good to go.
@@danielwells774 No, your reality is made by hard work. Graham isn't well off cause he is lucky. It's cause he researches, and puts in the work. Both in terms of making and saving money. If you want to live a victimized life by thinking that it's impossible to make a decent living or save a lot of money, then you won't do very well. Do research, put in the work and you will get results. The reason most people can't afford to save is because they spend too much and they don't try to get a career, they just work a minimum wage job their whole life, because learning something is hard.
@@danielwells774 Most people bury themselves in credit card debt. The good ol' "Too many people are buying things they can't afford, with money that they don't have... to impress people that they don't like!" According to the US government: The mean credit card debt of U.S. households is approximately $5,700, according to most recent data from the Survey of Consumer Finances by the U.S. Federal Reserve The average interest rate is ~20%, so if they weren't paying 1k+ in interest every month they'd be easily saving 12k a year without changing their lifestyle.
When I was 20, I decided to join the military and in hindsight it was one the best choices I've ever made in my life. No student loans to worry about and they paid for my education. Almost 20 years later and I'm doing well off after medically retiring. I do understand that the military is not for everyone. I gave it a shot and it worked out for me long term.
Couldn’t agree more! One of the best decisions I have made. Been in 10 years and staying until 20, maybe more. Even if someone joins for one enlistment, the military can help out tremendously!
Hey Graham, I have no idea if you will ever see this but Im starting a club at school that will get me and my peers into investing, finance, real estate. Sometime during this year I would love to have you on for a few minutes to be a guest speaker at one of our virtual meetings!
@@joeybuttler1615 Hey joey, the school was not the one who initiated this I go together some friends and they got their friends interested. If you search up CASH Club Corp you should be able to find out how to start a club at your own school maybe you have some friends that are interested too. Since finance is something that schools don't really teach at schools I am sure that many students would be interested.
Not to mention that he was burned by the collapse of I think it was the housing market that drove him to bankruptcy, so he treats credit almost like a recovering addict. Combine this with his target audience, and it's not a surprise he gives the advice he does.
@@sergiov766 I'm an infant with a football shaped head and my time machine glitched out, and now I'm over 1 quintillion dollars in debt for having gone to Harvard for 47 billion years.
Graham is in the retirement savings bracket of a 300 year old person. Great job Graham! Average 20-29 year old -$27,000 Graham at 29 $4,000,000 Average 30-39 year old $40,000 Graham at 39 $50,000,000
The average stock in my portfolio has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this market;'?
It’s precisely at times like these that investors need to be on guard against the next certainty''. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor.
I agree, having a financial - advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020'', I was really having investing nightmare prior touching base with advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
When ‘Sonya Lee Mitchell’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss,'' I promise she'll take one with you.
Money doesn't buy happiness, money can buy experiences but it's up to you to live in the moment. As much as I love saving money, it should be a fun task rather than a chore - having tangible goals helps a ton (like I want to buy a car, house, etc) rather than "I want a million bucks"
@@Trey50Daniel I definitely agree with this to an extent, like man if I had enough money I would eliminate other peoples' unhappiness every single day because I love helping others.
Hi I’m 23, and I have zero debt, the first time since I was 17. I paid off between 20k -25k over the course of 5 years. I’m finally up, not a lot but I never want to drop back to where I was😰
Yep, absolutely doable. But takes knowledge, perseverance, sacrifice and luck. Also, having time on your side (meaning having more time the better) is a huge plus.
@@carlkpsplucky5554 I have recently got to 10k in my divided portfolio 🥳 I bought 1050 of btc almost turned it into 4K, but btc has dropped substantially. I also bought 1050 of ETH, it’s now worth about half.
Just turned 19. No debt, getting a credit card, opening some investment stuff soon, have a job where ill be making 30k a year. Live it with my mom. I give her 200$ a month. I think im doing pretty good.
20% is typically the rule for investing me personally I'm thinking a 2/3rds split into S&P and a Roth IRA but idk it is really just up to you on what you think is going to help I am turning 19 in a few months so yeah
@@javierjp8549 It's true, as well as ALL the financial books. However you can Stil adjust it... I'm making anywhere between 1k to 1.5k euros, nothing saved 😅 that's why I'm watching this vids. Wanna put away some stuff
The problem is that too many people ASSUME that they're gonna make it to 60. It's great to save and invest but just as important is living life to the fullest of your abilities/means. While I save a good amount each year, I always take out at least $2.5k to travel the world each year. Because I understand all too well that nobody is promised their golden years. Even the most healthy among us. Where I work alone, I know of 4 people who literally died in their cubicles. Balance is everything in this thing we call life.
I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away
Taking a loan to invest in stock isn't a bad idea, but what you should consider the most is on which stock would you like and what professional would you like to handle such investment for you
One good thing about working with an expert is the certainty of making gains on all imput, I believe the reason people go into trading is to make profit on the amount invested.
This the more reason I would rather leverage on the services of a professional trader like Prof Gerald, invest and earn massively with him to achieve the best. With his help I was able to make $21,304 under two weeks of trade
Don't worry about it, my dad graduated engineering at 29 (I will graduate shortly before I turn 27), by the time he was 40 he had a very uninvolved position in his company (semi retired tbh), retired by 50 and living VERY comfortably. The maths tells you starting late is terrible and you will suffer financially, but life doesn't follow formulas.
I’m nearly sixteen and so glad that you’re making these videos! Even though I’m young I think it’s absolutely essential to figure all this out now so I’m prepared for my life. Thank you so much!
i was gonna be so disappointed if he had said have 20k saved by 20 but he actually went in and looked at the average, like yes i was the one with -27k at 20😭 thanks for including me or people like me, makes me realize these goals are still very much doable
Hello Graham, I want to thank you for the high quality content that you consistently put out. I’m 22 years old and have a credit score of 790, a net worth of $42,000, and consistently putting money into my 401K as well as my index funds account(with Vanguard of course). You have definitely been a factor that has contributed to getting my financial life straightened out. I will keep giving likes to your videos!
@@IreFang 20 years? He will only have $272,000 if he only puts in $1400 a year...that's 5% of 28k/yr maybe he makes a lot more than this...but there is some missing info obviously. I got him at $1M at age 59.
I skipped college and got straight to work. Now at 25 I dont regret that decision at all. The debt free life is the real deal. FIRE by 40 Is the goal. Best.
Love you ,Graham. You really pump me up to be a money maker, but 1. I live in a country that doesn't allow me to invest in the stock market unless i go throw licensed brokers that take commission. 2. I'm not allow to have a Roth IRA account. 3. Credit cards are very limited in use and don't give the perks or good credit score. 4. I'm Not allowed to deposit a hundred dollars in WeBull due to not being permitted. 5. If I want to buy a house, Mortgage is only offered with a ten year loan (30 years doesn't exist here). 6. Interest rates on the 10 year loans are above 10%. 7. Average wage rate for a Good Job for a person who has been working for 20 years is less than the average US minimum wage. 8. Part timers are given criminally low wage. 9. I don't even own a PC, I use my brother's laptop that he got 8 years ago (from scholarship) . . But with all that I really think your advice is great. Even if it's useless for me for now. I'm hopeful that One day when the time comes I'll know exactly what to do. Thanks in advance for that time. Cheers to your twenty cent coffee.
@youngbuck0911 worked and invested in stocks during high school, bought first rental property last year as I was doing first year in engineering. Now I dropped out of school and living with mom again working 2 jobs investing 80% of income to build stock portfolio and buy next property next summer if everything goes to plan. I want to create a TH-cam channel about finance but terrible and shy on camera, will do it eventually though, it's my main short term goal
This is exactly why I’m trying to do! I’m 16 so I’m behind, but I’ve been actively trading options and making a consistent few hundred bucks a week, and started an LLC with a friend for web design, I want to buy my first property as soon after I turn 18 as possible. Did you have any issues getting a loan though? I have some worry because of lack of credit and I don’t want to have to pester my parents to cosign
@@ethanwilliamson782 I had to get a second mortgage from a private lender to make it work. But I'm renovating the house next summer to refinance and eliminate the second mortgage and lower interest rate
Never been that type... I was always the type to save money that I earned to buy things that I'm going to need to impress myself on how far I made it. 😆
I’m not sure how old you are, but in all likelihood Social Security will be around to help out, and most people are able to cut their spending back in retirement. Graham is young and this video is targeted to a younger audience, I think, but lots of people retire with less than he recommends. Most people really don’t need a million just to retire.
I recently had a coworker complain about wanting to retire soon. She was hard working, but seemed very tired. She died suddenly of a heart attack months later at 62. That’s why I am saving 50% of my income to retire at 55. Building airplanes is hard stressful work!
"You are ahead if you have more than -$27,000"
Me with 3 dollars: *nice*
*reaches for loose coins in the couch 😎
Join the club fam 😂 I thought becoming TikTok famous would change my situation... NOPE!
Lol
Jason Cline Show you can turn social media fame into money, it’s up to you to figure that out.
Nice
If you can avoid student loans, then you’ll be wealthier than most Americans
Honestly!!!
So should I avoid college?
i made 20k this week from stocks so im ahead by a lot and only 23
@@kylelarimore7522 possibly
Daniel M Or get a degree in an in-demand, high paying field
By age 20, open a Roth IRA and deposit your negative 27,000 into it.
😂😂
Yeah that way it’ll be tax free by age 59 and a half
Lmao, aaahhh that was good
😭😂💔
negative 27000? more like negative 100,000
who else is on the anxiety train and obsessively investing in their 20's?
@Graham Stephan ^^^^^^^^^^^ Scammer bois
ha ha . I am 71 and began investing at 34. Make your investing fun. Consider it a hobby. An experiment.
MEEE!! except I'm 15 LOL
24 and I’m feeling it
I've just begun investing at 19. Want to start good habits early!
Me: 30k in debt and barely making rent
Parents: where are my grandchildren?!
BOOMER MOMENT
skyZ bruh fr doe on a stack 😂 👌🏻
Ask them for a loan of $30,000 with a -%6 APR.
Do they have grandchildren money?
Boomer logic don't equate to modern times
the fact that the $500 in my savings account means that I’m already ahead of most people my age is a little concerning tbh
You should be concerned wit just the $500 lol
Guess who gets to pay for their retierment...
You are ahead of 40% of americans.
Look up what percentage of adults can afford a surprise expense of $500.. that will blow your mind 🤯
lmao you have nothing to loose one way to look
Bruh Im 15, kids my age are trying to get a perfect 800 on the SAT reading. and here i am trying to get a perfect 800 credit score. Thanks to this guy. what am i doing with my life
Props to educating yourself on videos like these at 15 years old
mike ganer also 15 no one in my school was trying for perfect scores. In fact most students don’t even care about school
You’re light years ahead young one
@@ryc3658 We are all young.
Fellow 15 year old Graham viewer and finance nerd here 👍
When you invest, you're buying a day you don't have to work
I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this
@@johnchris7085 Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late
I'm new to this Bitcoin trading, how do I get started with a professional expert
Any specific guide??
@Gary Threadgill Thank you Gary I will write her immediately
“high interest savings account”
I too remember 2019
:P
@Brother Augustine - Right? 1% "HYS" - hah!
Kuuryo I highly doubt it, interest rate have to stay low otherwise the feds will owe to much on that massive debt they have now days. Look around Europe and their negative interest rates.
I had a savings account with a 20% rate... 40 years ago, lol
Just buy meat, make jerky out of it and vacuum seal it with O2 absorbers and stick it in the fridge (to prevent botulism). Meat's gone up around 35% in just a few months, so by 2021, it'll probably be 3,000 dollars for a slice of steak.
As a 16 year old I am glad that I am learning this stuff now
Wish i did at 16! I started at 19
me too
20 here
we can do it Boysss!
10 here 😃
@@thepersonbehindelonmusksuc1634 keep watching these types of videos, trust me
I’m 19, making around $25k while in college, and am on track to meet my savings goal of $10k by the end of the year!
What job you have
@@xLiLtEmPeR I work as a shift supervisor at Starbucks
@@valerieswart4900 You're making 25k working at Starbucks?
@@valerieswart4900 nice what does a supervisor do
A Cat I’m guessing working full time as a manager
i am 46, and only started about a year ago or two to really care about my savings . I had been doing "normal" things that most of us people do, buying too much car, spending small amounts (but many times) on very silly things and so on . So now I have a bit over a year worth of salary saved in cash, and i feel so much better than when i had virtually zero in my bank accounts . But it hurts me very much to think that had i started 20 years ago, i would have been in a much different position right now . But hey, better late than never !
Yep better now than never
I had to start over at 48, and in 12 years managed to get $450k in savings, paid off all bills (including kids' college) and my house is owed less than 8k. It can be done! good luck!
@@e-spy damn , that’s a lot of saving power in 12 years . I am trying to grow my side jobs to increase the income flow but I would not be able to save as much as you did . If I do a great job I might save 15k (euro) to 20k a year . But that’s enough for me . You did an amazing job .
@@albertobenelli Thanks, but keep in mind the market was doing really well the last 10 years. Most made at least 15%, but I did pay attention and got around 45% on average. I saved 25% of my salary for investments, another 25% into savings. The rest went to pay down debt, so I bought nothing. My car is 18 years old, for example, but runs great. I knew I had to get it together if I ever wanted to retire. The sacrifice was worth it, though I now have a reputation for being too frugal, lol.
@@e-spy I think you did an amazing job and pesce of mind has no value . I have to say my savings are now growing at an exponential rate so i might be surprised by how much I might save in the next 10-15 years . After a very strict beginning now I decided to let go every now and than to spend some extra money on a nice night out with friends or with my daughter . If a month I save a bit less than average, I save more the following month . It must not become an obsession either . Thank you for sharing your experience . I wish you a good day .
Realized I don't have 1x my annual salary saved up so I just quit my job and now I'm an overachiever.
This is the way
Ah okay I failed so far - quickbooks says my networth is a big number - but there’s a minus in front
Two of my favorite TH-camrs in one place
Just turn off your computer and turn it back on again to see is the minus sign goes away
Omg, Meet Kevin and Graham Stephan!
Negative balance. Positive influence. Neutral on Sunday brunch locations.
Isiah Careful with your words. The IRA is a terrorist organisation in Ireland which fought the British for independence and freedom.
I save at least 50% of the money I earn every month. It is very easy when you are over thirty years old and you still live with your parents.
Are you happy tho?
F in the chat but also what a chad
Same here but I am moving out next month. So I am going to be broke :(
Lol I'm 25 but the same situation. Saving about 2/3 of my monthly income ($3,200) and investing consistently, but there's really no shame in it. You're doing the right thing by living at home as long as you aren't too much of a burden on your parents. Times are different, there's really no reason to move out in your early 20's if it means you'll be burdened by rent or even mortgage payments. In my opinion (depending on how much you're earning) buying property isn't always the best move if it means most of your paycheque will be going directly to home equity and interest. It could easily inhibit your ability to build multiple streams of income if you make that leap too early.
Ah so you’re the rich kid a school who’s parents will pay form them
The retirement fund that my husband and I have built up is doing quite nicely. The majority of the money, which averaged roughly $2 million, was made by taking advantage of the opportunity to purchase luxury stocks at a significant discount during the Great Recession. 2009 saw my stockbroker fired, all of my mutual funds liquidated, and I purchase individual dividend stocks. You can succeed if you are patient, don't panic, and do your homework.
Also, Stay in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised more than a million since 2021. Just bought my 3rd property for rental. Credit to Brianna Mckee Harris.. my Investment-Adviser. Most likely, the internet should have her basic info, you can research if you like
@@AmFaucher255 I just googled her and I'm really impressed with her credntials; My portfolio has been down bad, I reached out to her since I need all the assistance I can get.
@@AmFaucher255 Very true I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
@@AmFaucher255 congrats on the 3rd property!!
@@waltermartinelli8384bots, bots everywhere
Graham should do a poll to see how his audience compares to the average!!
That sounds fun!!:) Totally agree
Yes
What percentage at what age..2%?
Agreed
TH-cam just got rid of polls on videos 😔
Pshh. I'm only 8 months old. Been saving 130% of my salary for 20 years. Will retire when I'm 7
You talk like your 8 months old
@@pavlo5085 you're
@@pavlo5085 lmao thats ironic paul
@@yorha.a2 That man had a family, you didn't have to destroy him like that. Lol
Damn
Gram : the average is -27,000
My exact debt: 27,000 👀.
Well 50% of people are worse off than you so you got that goin
Well the -$27,000 is net worth not debt, so if you own literally anything you have a higher net worth than that.
Given that only 41% of people enroll in college, and the average also includes all the people who didn't go to college, so it sounds like you're doing pretty well (if you went to college)
You're just an average guy.
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.,,,,
You are right. Been thinking of going into gold and cyptocurrency
It's obvious everyone is doing this online Investment.
@@tracyholian2944 I totally agree with you it has been an eye-opening experience for a lot of people.
Investment is the key to achieving success with the current pandemic slowing down so many businesses aww
Talking about been successful. I know I am blessed if not I wouldn't have met someone is as spectacular as Stacy Griffin.
Graham: Go and get a credit card
Dave Ramsey: *heavy breathing*
HAHAHA YES!!! I was thinking the exact same thing
omg exact thought lol
I did a project him in school
😂
John Asante LOL
I followed Graham's advice and my credit score went from around 350 up to 720 within a couple months. Now it's 745. 800 here I come! Oh and I was just approved for a home loan!
Hope you have at least 20% to put down!
Congrats 👏
Whats Graham`s advise to improve credit score?. My credit is less than yours The Woof Pack.
🥳🥳🎉🎉
Brian Haifley you don’t need 20% anymore. Some lenders ask for 3.5% now.
I’m 20 didn’t realize I was crushing it😂thx💁🏼♀️
Same😂this made me feel good!!!
Same😂
🥳🥳🥳
Yes I have 7 dollars take that average 20 year olds
Dillon Reynolds same
awesome video We all aspire to financial security and a better quality of life. With the correct investment, modest lifestyle, and planning, accomplishing this is not difficult. I'm pleased I was taught to work hard for financial independence at a young age.
My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. Yet, investing can be challenging and dangerous if done alone. For this reason, I suggest getting professional assistance (financial advisors). The problem is effectively applying it, not merely watching videos and reading investing books.
@@Brittany-reeds Sincerely, I'm genuinely moved by what you said. I have a sizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
@@Victoriataylor5668 As an OAP with extensive experience, I firmly think that having the appropriate information is essential to the success of any investment. Regardless of what others may say, do whatever you set your mind to. Warren Buffer frequently advises, "Be fearful when others are greedy, and greedy when others are fearful." The secret to succeeding even while others fail is undoubtedly this. Working with financial advisor ALICE ELAINE HAYHURST, I earned $100,000. So far, working with her has been a promising experience.
@@Brittany-reeds Please, how do I connect with your financial planner?
@@Victoriataylor5668 quickly do a web check where you can connect with her, and do your research with her full names mentioned..
21 years old with $30k saved up and $0 in debt! Finishing college next year and scholarships will cover my entire tuition cost.
good fucking job dude. I'm 18 and have around 3K saved up and have no debt from college since my parents help me out with that.
That’s great saving and all but don’t be scared of debt when it can make you money.. 21yo here.i have 2 properties I owe $340k total on that are worth roughly 400
thanks to mama and papa
Good for you, not everybody has the right environment to be able to manage that.
Excellent!
I’m way ahead in the positive and I’m only 16 years old. I started my TH-cam channel at around 13 and it’s now making me money.
I just watched a video on your channel that has 4.3 million views! That's insane brotha!
Just seen your channel wow man great going keep grinding you’ll be made before you’re 20!
Do you have any tips?
That’s epic. How much have you made so far?
tinydough I’m commenting to see when this gets answered
If they taught this in high school, we’d have a lot more STEM majors.
What is to teach BASIC MATH taught in grade 4.
Why, there aren't enough now? They already want to do away with liberal arts majors because most people are going into STEM.
It doesn't really work like that.
That’s not really how it works. Just because you have a Stem degree doesn’t mean it’s easier to get a job or that you’ll make a lot of money. Some of these career fields have too many people compared to the amount of jobs
@@VeggieBob7 just graduated as an electrical engineer in the worst pandemic and still got a job within the first month of looking. Thank God 🙏.
STEM FTW
I was 17 working ToGo orders at a Texas Roadhouse during the summer of the pandemic and the tips were really good, I also hardly spent money since everything was still restricted and I lived at home. I focused on my schoolwork as well, fast forward at 19 I currently have 18k in savings and will have no student loans since my merit scholarships cover tuition (in school for nursing). I’m paying rent with a roommate right now, but hopefully next year I can find my own place to share with my partner! My goal right now is to start saving into a Roth IRA account, and build credit!
If u are a refuring to a partner as a woman, DON'T. Every experience I have EVER seen in the last 20 years puts them in the cost side. Women are not built how the were 30 years ago.
Please don’t live with a “partner” depending on the outcome, you could lose half of what you worked so hard to earn 😕
Women are expensive and they generally do not know the value of savings. They are here just to have fun so make sure she’s the right one.
a little update and clarification: I am the woman in my relationship and my partner is my boyfriend, who is in school for mechanical engineering. I decided to pursue two degrees since my merit scholarships cover all of my tuition and I thought 'why not.' I have a little over 19k saved now, some in investments as well, and a credit score in the 'very good' category. We are planning to wait to live together since it is very expensive in my city and we are on the younger side, but we are overall still going very strong
@@asamr4782 If this is true good on you. You clearly understand how debt works and unlike most women (I am sure if you think about it you will agree) you two will do good in life. I am sorry for the current state of the economy, I have a daughter who is 20 and I feel bad for all the uphill battles young people will face because our government has been stupid for the last 25 years
I wish you would get involved in designing High School financial literacy courses. I am old enough to be your Mom and I am a teacher but enjoy watching your videos and I truly think that teenagers would respond to your energy and knowledge.
Hey I’m a president of a non profit started by teens if you’re interested in getting students at your school into finance the stock market or even real estate I would recommend starting a branch the club is expanding all over the world this year. It’s called CASH Club Corp if you look us up you can find a lot of information.
- Brian
@charlie chaplin shut up Charlie
@charlie chaplin I'll tell you what. Show us your portfolio and net worth and then you can criticize. If it doesn't compare to his, have a seat.
Dave Ramsey allready does, and it’s taught in more than half the high schools in the country now. That’s why Dave Ramsey’s net worth is over 300 million
I'm 48. March 2020 I had 0 saved. Today, I have over $20k invested, thanks to Graham and others. I had a bunch of collectible crap I sold off (amazing how many eyes were on Craigslist during covid) and put a $1000 a month of money I was really just pissing away. I'm laser focused now. I think I can do $2k a month from here on out for a while (maybe the next 5 years). Sorry honey, no traveling for a bit. Covid makes saving a lot easier. Thanks Graham for your no BS videos that provide so much great information and get to the point.
I love seeing a comeback story like yours!
awesome man!!
Hey man, I suggest you invest in Aston Martin, I predict over 1000% increase in the next 5 years. Analysts have yet to catch on to their recovery potential but its an area I have followed very closely for years. Do your own research though.
A year ago I was 20, had no savings, no investments and was constantly stressed about bills and over drafting my checking account. In the last six months I've got two high-interest savings accounts along with an emergency fund saved up, making money on my investments and am building my credit score. Thanks Graham.
According to my Adviser; *Investing for Retirement is better than Saving for Retirement.*
What I think you need is a Financial Adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit
*Teresa Jensen White,* That's whom i work with
I'm surprised you know her too. I've been making a lot of profits learning and investing with her for a few months now.
Teresa Jensen White is one of the best mentor/trader I have ever worked with in the past few years, she knows how best to deal with whatever market situation.
No she's not!... TH-cam is a public place; i can't drop her information here but You can just put her name on google and you will be directed to her website and drop her your message.
"-$27,000 in debt at 20" Im sorry is this some sort of American joke that im too european to understand?
Most younge adults that go to college after high school (18) or a little older say 20. Are in debt because of college
@@johny9567 because instead of community college they go private due to bad grades not getting a scholarship or some such and want to live on their own.
meaning rent. in cities like nyc a year of rent will put you down that rabbit hole even with a job. its a slave trade there.
solve the rent problem you solve the student loan problem.
meaning you need to destroy the rental and property value market.
or raise min wage according to rental and property value market.
imagine getting 5-10% raises?
lmao.
min wage if they want to be fair in a ratio should be tied to the rent + property value market averaging it out.
kids getting creative living in their cars to avoid rent because rent is too damn high aka property values are too damn high and needs to crash to 3x income.
Bester Mitarbeiter
Mhmm exactly. I live in Sweden and Im 16 so when I go to university it will cost exactly $0 lol. 32% in taxes is actually worth it hiho!
@@Koushi82 Or just move out of NYC
@@noahhuss8260 fools already did.
And those that now say well you cannot complain anymore. as double standards they suck.
I go where my job goes if no job no way will live in those cities.
Meaning this if there are no jobs that pay the required rent being 1/3 income or 3x prop value the companies and Bus can all just go f themselves.
It used to be as an owner of slaves you'd need to pay for their shelter food medicine. Now it's far far gone from that even.
Owners find it cheaper to pay min wage than owning slaves. Like wow.
I really love it when youtubers take the time to write the summary in the description box. The effort is really appreciated!
Probably his editor
I just lost my job because of the pandemic, so I started a TH-cam cooking channel. Wish me luck!!!
Nice editing job! Keep going and good luck!
Nice, I just subscribed!
I just subscribed! Hope youll succeed 😊
Subscribed but keep going don’t stop.
I subscribed , we all need to help eachother out
This is cute, but most of us are here at age 30+ because we were absolute morons with our money in our 20s 🤣
Lol yup I’m 31 and burly gettin out of debt and less that $2,000 in saving
Yeppppp lol 34 here
I have a lot saved but little invested. Am an idiot.
Guess I’m going places I’m 19 have 15k invested and 5k in my bank act and I’m stressing balls worried what I want to do with my life just working till I get a idea haha
15
My relationship with money has changed since I found this channel. Thanks for your videos Graham
so happy to hear!
So you're telling me I'm richer than most 20-year-olds and I'm 14 and don't even have 1k. I feel very special.
Save like crazy while you’re young kiddo, and if you plan on going to college, apply to scholarships like it’s your job. Good luck
Get a job dog, get ahead of the curve. You could easily have enough for a 20% down payment on a house by 18 if you spend minimally and work the legal limit (or a full-time side hustle)
Anyone here know if weeble is actually any good?
Hey, Alice! Can you play Croquet?
*(If you're Good- You can Keep your Head)*
As a 14 year old with more money than most 30 year olds, I know how you feel!
My family and I are first generation immigrants. My parents never taught us about investing, little about savings. It was about survival for us for a long time. I wish I knew about all of this a decade ago so that I could have planned and started. But your channel is opening up a lot of opportunities and new goals for me Graham. Thank you!
Same, bro
yesterday was the best time to start, but today is the second-best time :)
I’m 17 and when I finish my apprenticeship when I’m 20 I’ll have 0 student debt and a good income, I never realised im ahead of the curve
NICE!!
@@GrahamStephan I love ur vids, u don’t know how many people u help with their lives with ur vids, good luck with your Career in the future ahead
Watching a few of these videos leads to a dedication to smart decision making... watching too many of these videos leads to crippling anxiety
Im 20 with 50k saved. 0 debt. I live a debt free lifestyle (a part of the FIRE community), started working multiple jobs since 13. Now im 1 year away from graduating with my undergrad in comp sci debt free thanks to hella scholarships.
I was raised a by 2 dave ramsey fanatics, so we follow the baby steps religiously. I always had an emergency fund set aside for myself. I started investing at 16 between mutual funds and roth ira. I plan to get into my 401k next year upon getting a fulltime job once i graduate and really plug ahead on investing more. Saving up for a duplex/multi family home to start that passive income, and have 5 side hustles/income streams at the moment.
Live below your means, save 50% or more your income, keep expenses low, live frugal, say no to debt, and INVEST AS EARLY AS POSSIBLE.
Its channels like these that motivate you to reach your financial goals.
Hows your eating lifestyle? Breakfast lunch dinner snacks etc. Just curious
Those are not reasonable for most people. You're in the
@@goaliedude32 Yeah especially the scholarships part. I applied to probably 50 or so scholarships. Didn't get a single one. The only scholarship I had was offered by my school that was basically canceled out by the rise in tuition. I also go to an instate engineering school while already being a year ahead in my program (to save money lol). Rippp
Do you have time for leisure time? Do you enjoy your life and what’s one of the side hustles ?
Lmao sounds like a really enjoyable life you live
I'm 19, have $7k in my Roth, and $1.2k in Robinhood. No debt, college is completely paid for and working an internship!! Credit score of 760 ;)
Bruh I'm 17, teach me your ways 😂
Congrats
That’s amazing! Congrats!
Nice work!
Big Jamal 😂😂mann but he did say college completely paid for so I’m assuming handouts ?
12:00 I think every 20 year old needs to hear that! It's so insanely eye-opening. Thank you for making financial topics intersting Graham
Currently 24, saving 80% of my salary. I know this would be nearly impossible if I weren’t living with my parents though. Still, even if I were living on my own, I would still be saving 60% so feeling pretty good about myself.
Definetly! Wow
👏👏👏
do you pay rent? wowzers
@@kieran7585 why would she pay rent to parents 😂
@@davewhite9464 plenty of people do
I'm saving 40% of my income and I'm 38 year old single parent. Thanks to Graham I have kicked my savings into gear.
Nice work!
Keep inspiring Robert!
That’s amazing
I need to save $100,000 so I can spend it all in 56 minutes like Jake Paul did. 😉
Thank you for your tips and motivation Graham btw!!
Tesla call options
Love your videos Paul
@@laurabilze3105 woo thank you Laura!!!
Lol how did he do that in less than an hour? Not the wisest spender lol
*laughs in Creole* 🤣
2020 has been eye opening for me. I’m 22 and this year I’ve created a budget to live as frugal as possible. I also am looking into passive income options and started investing. The idea of being more financially stable than my peers makes me happy 😃
Strange that having more than others makes you 'happy.' Why not simply enjoy becoming self-actualized and prepared for your own sake?
@@J5L5M6 This is why you are broke
how is this going for you
Are you triggered? @@J5L5M6
You will be wealthy by the time you are 50. Unless you marry the wrong person, of course.
Starting in my twenties, I put away $50 a week as an emergency fund. So when an unexpected expense (ex. dental) came up, I would pay with a reward credit card, then I would dip into my emergency fund to pay the balance in full to avoid paying interest. 😀 Doing this avoided some stress in my life!
Glad I was thinking like this when I was in my 20's. House paid off two years ago and have almost 8x my annual saved at 40 with zero debt. I do hear from many though that I have not done well for myself since I don't work a white collar 9-5 job.
You've done incredibly well
Haha those are the same people living in crippling debt. 😂 Cheers man good job👌🔥
Thank God I have a Brother just like you xD
The average Plummer makes more in a lifetime than the average doctor or so I’ve heard
What do you do?
I opened my first credit card in January 2019 when I was 20. By just buying a few things every month and paying it off in full, my credit score is above 750 just as potential landlords are screening for good credit score. I feel extremely lucky to have made the decisions I did and even luckier that I was free from intense financial pressure during this time. Good credit is easier for some than others, but everyone should try to get better!
Man I’m the same way but I opened mine in 2018 when I was 18 so now that I’m twenty I have 5 credit cards and a score of 760
Same. Got my first card at 19, and my credit score has been in the upper 700s for the past 8 years. It's weird that I can't sympathize what it feels like to have bad credit.
Had a credit card since I was 17. 28 now with 825 score. Realtors get those wide eyes when they check mine.
You are right! your explanation is easy to follow up. thanks
Amazing to know you mentioned and recommended Mr cristian , I thought I'm the only one trading with him.The best decision I ever made in my life was investing in financial market with a professional broker Expert Mr cristian AP. Trust me guys he will explain for you to undrestand the market strategies befor trading in it.
Wow I'm just shock to know they're people who still lose like me, I thought I'm the only one losing in trading market.
Trading with an expert is the best strategy for newbies and busy investors who have little or no time t0 monitor trade??
I’m surprised you know him too! I’ve been making a lot of profits investing with him for few months now.
I have $7,850 saved , I be beating myself up because I don’t have more than that contantly feeling behind..until I read these comments,I believe in y’all success and I’m immigrating with all this. So if you can do it, I can do it too..I just drop a message for him hope he reply me. THANKS 🙏🏻
20 years old never been in debt and saved 5,000 toward my first house, only on minimum wage aswell so feel great after watching this!!
Shanna Harvey nice
I mean congrats on saving, but let's be realistic here: someone in their 20's with 30k debt and a STEM college degree making 70k+ a year fresh out of college is in a comparably better situation than someone the same age with no debt, no degree, and only making minimum wage. It's okay to invest in yourself.
Check out local grant programs too! In NC you can get up to 10k towards closing cost/down payment if you’re making less than about 45k, just a tip :)
Thanks awesome! Don't be afraid to invest in yourself, I have spent $12k in education so far but I am able to use that education to make more than $40k a year (with only a high school diploma well working on my college).
I'm 17 never been in debt and saved about 22k toward my first porsche
Many people become successful later on in life like CEOs for eg. Stay the course, don't lose faith and good things will come your way!
agreed!
@@GrahamStephan Hey Graham can you tell me your opinion on money market accounts?
john tan he likes them
Yeah, all the videos that say live within your means don't take into account the money you get when you are older. Permanent income hypothesis, consumption smoothing are not talked about at all. Why live in misery young and be rich and old?
Here Here! I blew most of my opportunities in my 20's dealing with severe depression but started to turn things around at 28. Hauled butt working 2 good paying jobs, paid off $10K CC debt in 5 months. Now at 30 I own a condo that's a 5 minute drive to the office and doing amazing things at work and management has noticed. You're videos Graham are an inspiration and very helpful!
I came to the U.S when I was 18 without knowing nothing about credit scores, went to higschool, to college and did not learn anything about credit scores. After 15 months of watching your videos I able to increase my credit score and secure a 2.5% mortgage loan after learning from your videos. Thanks Graham.
Great Video Mav! Maybe make a video on potential investments in this current market that would fetch substantial profit, been coming across articles on bloomberg, business insider etc about folks raking in $200K averagely in 6weeks using some sophisticated strategy and I'd love to know how.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
@Dan Brooks My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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
@@kenanporubsky2122 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.
Graham you are my favorite TH-camr and I have been watching you for 2 years. I’m a ten year old my dad is also a realtor but he is based in The Santa Clara County. I always ask him and my mom about all the stuff you talk about like tax write offs, boosting credit scores, saving money and etc. I love your TH-cam channel and think you are one of the best business youtubers. I want to help my dad flip houses and pass out flyers. I already made 470 dollars on the stock market from all of my birthday money and I saved all of it. If you reply that would be so amazing because I really want to here your opinion on my story. I am ten years old and I love your TH-cam channel and think that you are a very intelligent person.
Ima keep reposting till graham replies
For anyone who lives in the UK we have the same version of a Roth IRA which is called an ISA and you can save up to £20,000 per year tax free!
I hate that at 28 I’m just now starting to understand the importance of saving. I only have $4000 in my savings 💀
That's better than nothing!!! 70 percent of americans have less than $1000 saved... So you are on the right track regardless of how old you are
While it would have been better to realize 8 years ago, you are a solid 15-20 years ahead of most and time is still on your side that you can invest a decent amount in good growth funds and it'll grow like crazy before retirement. If younare making under about 55-60k (singlel you should definitely invest roth. Max that $6k per year, and more into 401k if you can, you will be set when you are 55-60 even if you never become a high earner
I know what you mean exactly!!!
Nice. I really started saving/investing at 30 (now 37), so you're a few years ahead of me. Things that really helped me were mint for tracking my spending and wealthfront for introducing me to investing in a hands-off way that kept it from feeling overwhelming.
Don't worry you are starting sooner than a lot of other people
There’s a show called the “money guy show”, they’ve been covering this for a few years now. They even mention you a couple of times, (they see you as a great mentor). But their numbers by age are higher and always mention the power of compound interest, so $1 spent as a 20 year old is $80 wasted when you turn 60. You should check them out.
So few channels give so much actionable information. Graham puts it in so consistently! 👏👏
YOU GOT IT!
As a 18 years old, I'm glad to have found your channel long ago. The day I was 18, I got a credit card to build up my credit score. I invest money as you said. I mean, in my last year of high school, my "finance" teacher should have put your video in front of the class instead of him. I'm grateful. Thank you Graham!
My only complain is that I didn’t find you sooner. Crazy how within just a few videos my mind set has changed in the way I view things. I would always blame school and parents for not teaching us the things we really needed to learn. However as an adult is our responsibility to go out and learn it. Thank you for all the advice you have shared with us.
Just turned 20 and have been stressing so hard recently just hearing that I’m in an actually decent place puts me a bit more at ease
I've begun tracking my net worth over the past few months and I believe that you need to start tracking the stuff that you want to improve on. I'm already up!
100% , every since I started tracking net worth, it's become so much easier to track your financial health.
Same! I used to look at what's in my bank account, but then my student loan wasn't included and whatever creditcard payment that was incoming wasn't either. It really helps :)
Graham: “save 5-7x your income by now.”
Lots of people: can’t afford a $500 emergency.
Yeah he's not very in tune with reality.
most people??? come on do door dash if you have free times. dont be lazy, if you are single then live in the room cheaper than a apartment, learn to cook. lot of way to save money. infact im saving from 100% from my 2 job (door dash and restaurant) my tips are literally cover my expends. house paid off. just work your ass off for 10 years then you are good to go.
@@danielwells774 No, your reality is made by hard work. Graham isn't well off cause he is lucky. It's cause he researches, and puts in the work. Both in terms of making and saving money.
If you want to live a victimized life by thinking that it's impossible to make a decent living or save a lot of money, then you won't do very well.
Do research, put in the work and you will get results.
The reason most people can't afford to save is because they spend too much and they don't try to get a career, they just work a minimum wage job their whole life, because learning something is hard.
@@danielwells774 Most people bury themselves in credit card debt. The good ol' "Too many people are buying things they can't afford, with money that they don't have... to impress people that they don't like!"
According to the US government: The mean credit card debt of U.S. households is approximately $5,700, according to most recent data from the Survey of Consumer Finances by the U.S. Federal Reserve
The average interest rate is ~20%, so if they weren't paying 1k+ in interest every month they'd be easily saving 12k a year without changing their lifestyle.
Guess those people should start with trying to hit the advice for 20 y olds
When I was 20, I decided to join the military and in hindsight it was one the best choices I've ever made in my life. No student loans to worry about and they paid for my education. Almost 20 years later and I'm doing well off after medically retiring. I do understand that the military is not for everyone. I gave it a shot and it worked out for me long term.
Couldn’t agree more! One of the best decisions I have made. Been in 10 years and staying until 20, maybe more. Even if someone joins for one enlistment, the military can help out tremendously!
As a military wife, I feel like the housing allowance is one of the most amazing benefits they offer. Currently in MA and cost of living is WILD.
Pay your house off = less stress = a healthier life
Solid video, Graham.
Hey Graham, I have no idea if you will ever see this but Im starting a club at school that will get me and my peers into investing, finance, real estate. Sometime during this year I would love to have you on for a few minutes to be a guest speaker at one of our virtual meetings!
You should shoot him a email once you get it started.
chris o_o I will thanks for liking so he’ll see it hopefully he does
this sounds like a wonderful idea and opportunity for younger people interested in economics to get involved
That’s really cool dude I wish our school would do something like that.
@@joeybuttler1615 Hey joey, the school was not the one who initiated this I go together some friends and they got their friends interested. If you search up CASH Club Corp you should be able to find out how to start a club at your own school maybe you have some friends that are interested too. Since finance is something that schools don't really teach at schools I am sure that many students would be interested.
Graham: Go get a credit card!
Dave Ramsey: Sell the car, get a second job, get rid of the card and live off of rice and beans!
Graham’s advice is WAY better if you are a responsible person!
@@JasonClineShow Mr. Ramsey's clients be like "I'm just 10 years old and 1,000,000$ in debt!!!"
Not to mention that he was burned by the collapse of I think it was the housing market that drove him to bankruptcy, so he treats credit almost like a recovering addict. Combine this with his target audience, and it's not a surprise he gives the advice he does.
@@sergiov766
I'm an infant with a football shaped head and my time machine glitched out, and now I'm over 1 quintillion dollars in debt for having gone to Harvard for 47 billion years.
@@manictiger 🤣
Graham is in the retirement savings bracket of a 300 year old person. Great job Graham!
Average 20-29 year old -$27,000
Graham at 29 $4,000,000
Average 30-39 year old $40,000
Graham at 39 $50,000,000
Exactly!🙌🏽
Yup
charlie chaplin how?
The average stock in my portfolio has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this market;'?
It’s precisely at times like these that investors need to be on guard against the next certainty''. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor.
I agree, having a financial - advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020'', I was really having investing nightmare prior touching base with advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
That's impressive!, I could really use the expertise of this advisors' , my portfolio has been down bad....who’s the person guiding you.
When ‘Sonya Lee Mitchell’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss,'' I promise she'll take one with you.
She appears to be well-educated and well-read''. I ran a Google search for her name and came across her website; thank you for sharing.
Money doesn't buy happiness, money can buy experiences but it's up to you to live in the moment. As much as I love saving money, it should be a fun task rather than a chore - having tangible goals helps a ton (like I want to buy a car, house, etc) rather than "I want a million bucks"
Sounds right to me.
Money may not be able to strictly buy happiness, but it can eliminate any problems that cause unhappiness, in turn increasing your overall happiness.
@@Trey50Daniel I definitely agree with this to an extent, like man if I had enough money I would eliminate other peoples' unhappiness every single day because I love helping others.
just ask dan bilzerian for some money
@@rienokimchee6687 He's my cousin and I love him but I've never taken a dime from him, I'm self-made and want to keep it that way lmao
Step 1: Put all of your money in Hertz
Step 2: Profit
STONKS
Nah bruh tesla 2,000C 7/17.
tf
Definitely not the best idea. But definitely better than gambling haha
You tripping bruh
I’m at 50k at age 20 $0 debt. payed off car and I always aim to Max my Roth IRA
Im 21 im at £60k going to become established and double up the money and expand.
Justin S what did u do to put u in this position?
@@homemadeuniverse9336 everyone in the comments apparently is 20-22 and has at least 30k in their 401k... LOL and graduated college on a full ride.
Hi I’m 23, and I have zero debt, the first time since I was 17. I paid off between 20k -25k over the course of 5 years. I’m finally up, not a lot but I never want to drop back to where I was😰
@@eternallylit good job! :D no debt is half the work
I’m 20 and this channel has helped me so much! I now have a 401k, roth IRA, brokerage acc w fidelity, and am saving for my first house. Thanks Graham!
"It's absolutely doable to do"
It’s as easy as smashing the like button. 👍
Lies.
Hello, this is the redundancy department of redundancy
Could be achievable to achive lol
Yep, absolutely doable. But takes knowledge, perseverance, sacrifice and luck. Also, having time on your side (meaning having more time the better) is a huge plus.
I’m 19 years old and have 3k in savings and 2.4k in my dividend portfolio. I’d say I’m not doing too bad.
doing great, wish I started earlier
Update?
@@carlkpsplucky5554 I have recently got to 10k in my divided portfolio 🥳 I bought 1050 of btc almost turned it into 4K, but btc has dropped substantially. I also bought 1050 of ETH, it’s now worth about half.
@@carlkpsplucky5554 what about u?
It’s CRAZY seeing what the “average” numbers are!... I’d love to see how they would compare to the average of Graham’s subs
agreed!! I'd be curious!
Actually, I think the numbers Graham is listing are "recommended" not actual averages.
@@OmniscientlyMe I feel it's safe to say the actual averages are much much lower 🙃
Do a poll @graham! I think that could be really cool!
A lot of coin
Just turned 19. No debt, getting a credit card, opening some investment stuff soon, have a job where ill be making 30k a year. Live it with my mom. I give her 200$ a month. I think im doing pretty good.
20% is typically the rule for investing me personally I'm thinking a 2/3rds split into S&P and a Roth IRA but idk it is really just up to you on what you think is going to help I am turning 19 in a few months so yeah
I really wish TH-cam was a thing back when I was 20 in 2002
I know right!? It didn't start becoming a thing until recently.
Did the BMW turn into an anchor?
This is a very "only for americans" video.
Still watched it :D
A shame most of his videos are "only for American"
@@javierjp8549 It's true, as well as ALL the financial books. However you can Stil adjust it... I'm making anywhere between 1k to 1.5k euros, nothing saved 😅 that's why I'm watching this vids. Wanna put away some stuff
What’s the UK equivalent of a roths IRA?
@@asdfghjk1031 I would say an ISA (lifetime)
Cause our economy needs financial advice lol not ya'll
The problem is that too many people ASSUME that they're gonna make it to 60. It's great to save and invest but just as important is living life to the fullest of your abilities/means. While I save a good amount each year, I always take out at least $2.5k to travel the world each year. Because I understand all too well that nobody is promised their golden years. Even the most healthy among us. Where I work alone, I know of 4 people who literally died in their cubicles. Balance is everything in this thing we call life.
What do u do with that 2.5 k? You’re forgetting paying for flights too lol…
I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away
Really feel bad for the like button once graham came on to the scene. Poor guy never stood a chance 😅
RIP
Graham Stephan correct me if I’m wrong but I think fidelity lets u take a loan to invest in stocks. Do u recommend this?
Taking a loan to invest in stock isn't a bad idea, but what you should consider the most is on which stock would you like and what professional would you like to handle such investment for you
One good thing about working with an expert is the certainty of making gains on all imput, I believe the reason people go into trading is to make profit on the amount invested.
This the more reason I would rather leverage on the services of a professional trader like Prof Gerald, invest and earn massively with him to achieve the best. With his help I was able to make $21,304 under two weeks of trade
Me at 28 about to apply to medical school, looking forward to having $0 income and $200,000 in student loans 😂😂😂
Yeah but you'll be doing quite the service for those around you!
Be sure to graduate and you’ll pay that off in a couple years !
It sucks man. Please try to find a scholarship or go to a cheap med school. It's all the same in the end.
RIP my dude
Don't worry about it, my dad graduated engineering at 29 (I will graduate shortly before I turn 27), by the time he was 40 he had a very uninvolved position in his company (semi retired tbh), retired by 50 and living VERY comfortably. The maths tells you starting late is terrible and you will suffer financially, but life doesn't follow formulas.
I’m nearly sixteen and so glad that you’re making these videos! Even though I’m young I think it’s absolutely essential to figure all this out now so I’m prepared for my life. Thank you so much!
Happy birthday lol
i was gonna be so disappointed if he had said have 20k saved by 20 but he actually went in and looked at the average, like yes i was the one with -27k at 20😭 thanks for including me or people like me, makes me realize these goals are still very much doable
Hello Graham, I want to thank you for the high quality content that you consistently put out. I’m 22 years old and have a credit score of 790, a net worth of $42,000, and consistently putting money into my 401K as well as my index funds account(with Vanguard of course). You have definitely been a factor that has contributed to getting my financial life straightened out. I will keep giving likes to your videos!
Congratulations man, doing great for yourself at that age.
Great work man, you'll be a millionaire in 20 years.
Congrats man! That’s cool! Best of luck in your endeavors
You are only your way to being a millionaire before turning 60.
@@IreFang 20 years? He will only have $272,000 if he only puts in $1400 a year...that's 5% of 28k/yr maybe he makes a lot more than this...but there is some missing info obviously. I got him at $1M at age 59.
FRUGALITY!!!! THAT'S THE KEY AT EVERY AGE🔥🔥😍
agreed!
I skipped college and got straight to work. Now at 25 I dont regret that decision at all. The debt free life is the real deal. FIRE by 40 Is the goal. Best.
Then keep fuking going man!💪🏼💪🏼 my goal is Also FIRE before 40, i’m 15 and i invest already
Got straight to work doing what?
@@theGrouch89 my 1st job out of high-school and living on my own (w/ roommates)was at a bowling alley making $8.50/hr. Now I work in sales.
@@nocigar7730 you have a lot saved?
Fire by 40 here too 😡🤟🏻
7:12 "what really matters the most is how much money you spend" It's not about the size of your paycheck but how to work it
Love you ,Graham. You really pump me up to be a money maker, but
1. I live in a country that doesn't allow me to invest in the stock market unless i go throw licensed brokers that take commission.
2. I'm not allow to have a Roth IRA account.
3. Credit cards are very limited in use and don't give the perks or good credit score.
4. I'm Not allowed to deposit a hundred dollars in WeBull due to not being permitted.
5. If I want to buy a house, Mortgage is only offered with a ten year loan (30 years doesn't exist here).
6. Interest rates on the 10 year loans are above 10%.
7. Average wage rate for a Good Job for a person who has been working for 20 years is less than the average US minimum wage.
8. Part timers are given criminally low wage.
9. I don't even own a PC, I use my brother's laptop that he got 8 years ago (from scholarship)
.
.
But with all that I really think your advice is great. Even if it's useless for me for now. I'm hopeful that One day when the time comes I'll know exactly what to do. Thanks in advance for that time. Cheers to your twenty cent coffee.
I love when he makes fun of the trolls “but graham, you told me”
It’s exactly how I imagine trolls commenting now. 😂
Honestly my goal is just to beat Graham's, Jeremy's, and Kevin's net worth by their age. Currently 70k @ 20, they've helped me so much
@youngbuck0911 worked and invested in stocks during high school, bought first rental property last year as I was doing first year in engineering. Now I dropped out of school and living with mom again working 2 jobs investing 80% of income to build stock portfolio and buy next property next summer if everything goes to plan. I want to create a TH-cam channel about finance but terrible and shy on camera, will do it eventually though, it's my main short term goal
This is exactly why I’m trying to do! I’m 16 so I’m behind, but I’ve been actively trading options and making a consistent few hundred bucks a week, and started an LLC with a friend for web design, I want to buy my first property as soon after I turn 18 as possible. Did you have any issues getting a loan though? I have some worry because of lack of credit and I don’t want to have to pester my parents to cosign
Hi
@@ethanwilliamson782 I had to get a second mortgage from a private lender to make it work. But I'm renovating the house next summer to refinance and eliminate the second mortgage and lower interest rate
Mateus Pires ok cool
I'm so lucky my dad is a financial planner. This stuff was ingrained in my brother and I.
"Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like."
-Will Rogers
Never been that type... I was always the type to save money that I earned to buy things that I'm going to need to impress myself on how far I made it. 😆
Well, I learned from this video that I won't be able to retire.
Great.
Same here maybe until I’m 80.
I’m not sure how old you are, but in all likelihood Social Security will be around to help out, and most people are able to cut their spending back in retirement. Graham is young and this video is targeted to a younger audience, I think, but lots of people retire with less than he recommends. Most people really don’t need a million just to retire.
the thought of retiring at 65 makes me tired. time to switch into a job i actually like so retirement isn't the only thing i look forward to
Have you thought about real estate? 😂
I recently had a coworker complain about wanting to retire soon. She was hard working, but seemed very tired. She died suddenly of a heart attack months later at 62. That’s why I am saving 50% of my income to retire at 55. Building airplanes is hard stressful work!
It's great to have a series of targets to shoot for. One of my favorite quotes is "if you aim at nothing you will hit it every time."