Is Passive Income The Answer?
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- เผยแพร่เมื่อ 15 พ.ค. 2024
- Passive income is about who owns the resources.
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Performed by Gary Stevenson
@garyseconomics
Videos mentioned (Maybe Gary can put these in the description, or use the 'i' function so they auto-pop up:
*What is wealth* | th-cam.com/video/rZHdXOWMChE/w-d-xo.html
*Rent, interest and profits are all the same thing* | th-cam.com/video/UBXhLrQoUKg/w-d-xo.html
Doing gods work
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Alina.
She's a licensed broker here in the states
I'm an aspiring trader who would rather learn from other traders' experience than investing in the market myself, in anticipation of the next bull run. What are your thoughts on copy trading as well? Do individuals actually earn a living? Just trying to get some reassurance. I want to have a healthy portfolio worth at least $850,000. Reliable inputs please.
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 358k so far and pretty sure I'm ready for whatever comes.
Talking about , FA, do u consider anyone worthy of recommendations? I have about 100k to taste the water now that large cap stocks are at a discount... Thanks>
Kristin Amy Rose, is the licensed advisor I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thanks, I found it. I booked a call with her on her website, her résumé seems pretty tight.
I just hit $100,000 net worth this last quarter from saving and i plan to invest in the stock market to see it grow in the next 3 years. What is the best way to navigate the stock market as a newbie?
The three things that I think are absolutely necessary for a healthy portfolio are exposure to market-leading tech, cash flow-generating assets like dividend stocks, and ETFs for greater diversification.
Remember that investing in the market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
“Lauren Marie Ehlers” is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
I thought about investing in the real estate market, I heard that people make millions , but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $460,000 but it's hard to bite the bullet and do it. Money is hard to come by
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 40, I am thrilled to share that my passive income exceeded $100k in a single year for the first time. This success reinforces the importance of the advicmonth e mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
interesting ! can u share more details?
She's known as Julia Hope Marble''. One of the finest portfolio managers in the field.
She's widely recognized; you should take a look at her work.
I'm a 52yrs Director in a Tech company and I consider myself a high income earner at $350,000 per annum, I have a retirement account account but i still want to explore opportunities for short term gains before i start working less in few years.
In my opinion, IRA is a valuable strategy for retirement planning, providing growth and tax advantages. While the market is promising, expert guidance is essential for portfolio management.
I learnt this when I got disabled from an accident, I had to reach out to a financial planner who devised a plan for me to live off dividends from my investments. Other than Disability Cheque, I earn enough from home and live comfortably with her help.
It appears that your investment advisor is highly skilled. Could you please let me know if you are still in contact with this advisor and, if so, how?
Finding financial advisors like ‘vivian jean wilhelm’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
interesting! just copied and pasted her full name on my browser, found her site at once, and skimmed through her credentials, very much appreciate it.
I don’t think anything would compare to earning returns while you sleep, its at the peak of wealth creation I believe, We should be grateful to markets like stocks and the foreign exchange, one cannot forget real estate.
Facts but I do prefer real estate to the other market, you’re going to need a lot of skill and consistency if you want to get profitable on stocks, much too complicated even though very rewarding. Whatever you do as long as you’re lucrative keep on.
In reality every one has a unique means of operation , I agree with you, on the other hand you don’t always have to do it yourself, I’ve surpassed a million in proceeds on my stock portfolio, I still don’t get how it all works, My CFA guides me on how to go about it, it’s saves me time and makes up for unseen errors giving me positive ends in return.
Now that’s smart work over hard work. I like your style ma’am.
Pls say a little more on your adviser ma’am
I’d only say do your DD on Kevin Mikan, he’s exceptional.
Thanks for the insights. I'm 23 and just started investing. l'd like to learn about compounding interest in investing. I've heard it's an essential concept to understand for long-term financial success.
Compounding interest is indeed a fascinating and powerful concept when it comes to investing. In simple terms, it means earning interest on both your original investment and the accumulated interest over time. The longer you leave your money invested, the more it can grow exponentially.
Exactly,. Compounding allows you to earn "interest on interest," which significantly accelerates your investment growth. It's like a snowball effect, where your returns build on top of each other over time.
What an insightful thread. Compounding interest can be a game-changer in building wealth over time. I encourage you to talk with a financial advisor and explore how you can leverage compounding in your investment strategies. You are doing great at 23!
I leveraged on the expertise of my F.A to grow my IRA to 2 million dollars utilizing compounding. It's a magical way to build wealth over time. But this requires patience and time too because many times you'll be tempted to withdraw your profits.
I leveraged on my advisor's expertise to grow my IRA to $2m utilizing compounding. It's a magical way to build wealth over time. But this requires patience and time too because many times you'll be tempted to withdraw your profits.
i’ve been in NVDA for four years, anytime it drops 15% my coach advised I buy more. Buy when others panic to sell. I’m cashing up some blue chip stock at a cheaper price.
There’s much uncertainty now, my question is what stocks can be the next wave in terms of growth for the next decade?
True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.
in as much as my knowledge of the business is limited, it seems that this is the ideal time to enter the market based on my understanding of supply and demand in the economy. The consistent price variations, which shouldn't be an issue, are the only thing stopping me. But I really need a counselor; could you please assist me?
I work with Jennifer Lea Jenson, a licensed fiduciary. Simply look up the name. The information you need to work with a letter to schedule an appointment would be included.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
In trading, possessing technical analysis skills is not sufficient on its own; discipline and emotional maturity play crucial roles in achieving success. Embracing the mindset of "time in the market vs. timing the market" proves valuable, especially during market fluctuations. I attribute my growing daily earnings to Walter James's valuable insights and daily trade signals, coupled with my commitment to continuous learning, managed to grow a nest egg of around 127k to a decent 532k. Kudos to the journey ahead!
He's mostly on Telegrams, using the user name
@Gainwithwalter7
Nice to see this here, Walter'James Henry"s understanding of market indicators is impressive. he knows exactly when to enter and exit trades for maximum profit. his signals are top notch
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes It's always good to have a financial plan
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Walter James Henry insights. It's akin to finding a diamond in a coal mine.
There was an old name for what is happening now … “indentured servitude”. You had to work until your “debt” was paid off. There’s a very troubling trend in the US where increasingly elderly people are having to work mainly because of their high health care costs but also because they rent and don’t own a home. This model needs to be resisted at all costs, very bad for any society.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Boomers stole the assets and put their children into debt peony
Haha, one of these few comments, scammers as usual
If you don't find a means of multiplying your income you will wake up one day to realize you didn't plan well.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
You just mentioned Expert Ramora Harris Indeed, wow that woman has been an incredible mentor to me, imparting a deep understanding of the economy that I wish college had provided.
My little investment of $6,000 which was part of my salary brought me up this height applying Ramora's analysis for beginners.
I agree with you! Investing puts money to work. The only reason to save money is to invest it.
Indeed investment has liberated a lot of families out of poverty, I recommend it to every bread winner out there.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Gary, you should work with an animator to turn these lessons into easy to digest infographics.
This message needs to reach people who wouldn't typically find themselves watching an economics TH-cam channel.
great idea
Much like the great Robert Reich.
Very good idea, like Zach Progrobs
Bad idea
A skinhead that sounds like a road man will reach the sorts of people that most need the help 🙌
@@Liberty_Freedom_Brotherhood Good point.
Yes i worked this out some years ago.
The big difference now to the old feudal system, is that this system is more widespread, more stratified. When hundreds of thousands of people are motivated to make passive incomes, the competition for unearned wealth is greater too. Who provides this passive wealth?
In this stratified system, wealth gets extracted from the level just below itself.
Poverty stress has now been created, innequality is at its greatest, and those at the top of the stratosphere rake in from the levels beneath them because they started with the most wealth in money to invest and assets to borrow on.
This stratified economic system in the Uk, is compressing the life out of individuals and communities,affecting health and life quality negatively.I am hoping that we can find a better way going forward.❤
We may have greater inequality today but everybody is much wealthier than they were in 1970s, 1980s etc. People have no idea how much better their material life is today than back then.
Nonsense if you have a company selling a product or service to the rich, you extract money from them!
@@stumac869I agree with this but it is tantamount to bring enslaved with slightly better conditions. I'd like to see a citizens dividend from something like a sovereign wealth fund
@@stumac869 Greater inequality? Yea right. When most peasants lived under hedges and the ennobled lived in castles there was less inequality. Are you alright?
@@stumac869isn’t that just material life inflation, technology is improving so everyday life will also improve. It’s all about the disparity to the top, do you think that is getting smaller.
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations. I really appreciate your videos
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
I'd really like to get into crypto Investing. I have about $145k set aside, but I don't know anything about this market. Would you please provide the best approach to make money as well as a trustworthy resource for advice? Your help would
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helps us a lot to pay up our bills.
Still regret that I sold my bitcoin early last year, even after my colleague insisted we shouldn't.
Please Is Bitcoin still a safe buy to outperform the market this year? I still kept my money in the money market and with over $120k maturing soon,
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Deborah Davis. A widely known crypto consultant
we're going to look back one day and say 'Gary Stephenson predicted all of this, if only we listened'. Keep going my man, you're class.
Thanks for the video. I finally established a way to increase my net income per month. My 2024 goal is to pay off the house by Sept 2024 (8 years total into a 30 year @ 4%). I have no debt other than mortgage. My 401k, HSA, IRA and emergency funds get maxed out. The mortgage is my last piece of debt left. I don't have any school loan or CC debt. I've made a lot of sacrifices over the years.
Congratulations on taking the steps necessary to get yourself out of the financial bind you were in.
That's truly remarkable. I hope you don't mind pointing me towards their direction.
She's Sophia Elaine. One of the finest portfolio managers in the field.
she's mostly on Telegrams, using the verified user name.
@PhiaElaine 💯:That's her Handle!
Bought your book it was excellent! Now my 15 year old son is reading it. Shared your channel with all the family. Thank you
I LOVED the book too. Suggested it as a book for a bookclub I belong to.
You know socialism makes everybody poor don’t you 🤦♂️
Also buy your son 'Economics in One Lesson' by Henry Hazlitt.
And everything ever published by Michael Hudson
@@merfymac And Henry George
“Tell your friends, tell your mum.” is definitely the best TH-cam sign off out there - might borrow that at some point.
My mum is dead.
This chap is so down to Earth and believes in fairness, top man. I wish we had more like him. The very best of British
He’s not down to earth. He is an academically clever person who has no grounding in the real world. Being a “trader,” getting paid ridiculous amounts because he guessed the market right for a few years is not a proper career. His working life in CitiBank was very short and he burnt out. Now millionaire trader, Gary, writes books and has a TH-cam channel spouting his brand of socialism.
@@philipjamesparsons so you dislike him?
It’s interesting that Gary still does well in the markets today trading on systems and platforms built by the “rich” that he despises…..
It's not fair to steal money by the use of force and give it to someone else.
The same type of guys benefiting from the system, it always ironic imo, internet do the contrary they sell a dream while getting rich, the rich try to kick the ladder same phenomenon happens within the migrant community, the older,stabilized,rich migrants voting against more migrants 😂
Ok I'm no economist or political scientist, but this is the best articulation of what I've been unable to say about reasons for supporting economic "socialism" in a modern commercial world.
Redistribution of wealth, to me, is good for the economy. It's bad for the super rich, but not the economy: WE are the economy.
Taxing the rich gets called a "redistribution of wealth", but it's a recirculation of useful money that's sitting doing nothing. If we release that money back into the economy, a great deal of it would end up where it started, with the rich. But it would do a lot of work before it got back there.
Money is the lifeblood of an economy and the system is sclerotic: the heart of our economy is clogged and the body, British industries, gets weaker everyday. Anyone with a job can feel it in their workplace.
We need a defibrillation.
I feel like this in the states.
But "greed is good"...
@@uniteddreamer It really isn't though
@@chioma3100 for sure, but this is the morality of capitalism
@@uniteddreamer I'm blind. Didn't notice the quotes. There are so many who wholeheartedly subscribe to this.
I see the enemy of good policy within my own family; voting against their own interest. Infuriating.
I say now, What middle class.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you... prevent inflation
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. I make a good amount of money per week even though I barely trade myself.
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some
You trade also?, I
No I don't trade on my own anymore, I always required help and assistance
From my personal financial advisor
You should include some graphs which illustrate how much of the wealth/capital is owned by different percentiles of society.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@noah-greeneMind if I ask you to recommend this particular coach you using their service?
*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
You're the boss. Greetings from Poland where housing prices skyrocketed so high that I, a software engineer, cannot afford even 2 room flat
Really why is this ?
Indeed, it's ridiculous. I am also in a relatively well-paid profession. The irony is that when I started working around ~6 years ago, I could afford quite the same flat (as % of my income) as today, and I got promoted 4 times since... So basically, my standard of living as a senior manager today is the same as it was 6 years back as a senior analyst. Think then about all people who i) are not in high-paying jobs (so its not about rent growing from 20 to 35% of income, but maybe from 35% to 60%), ii) and/ or did not have the same luck to get promoted at least few times (so their purchasing power does no stay annoying flat despite promotions, but actually shrunk by 50% or more in few years)...
My wife is from Poland and I am shocked at the prices of property in Poland
Well said, Gary. I've just finished your book The Trading Game. You're right - man's got words! Keep going, your explanations are very helpful.
Another excellent video, and another lesson I am teaching my daughter. Passive income is like the magic of compound interest. They are useful for surviving recessions and building real wealth. Not the "red Italian car driving" wealth, but the real stuff that everyday people used to afford. Keep doing what you are doing with bite sized info, as once the genie is out, more will understand why the wealthy will just get wealthier with the current political structures in the UK
Whilst agreeing with your message of increasing equality, I am not sure that simply taxing the rich will succeed until those to whom the wealth is given understand how to manage it. It will just end up with those who are financially literate and are willing to make hard decisions to keep it. Thank you for your videos.
This is an underrated point. I agree. If the people don't own the means of production we'll be back in the same boat soon.
It’s trowing dirty into your eyes because he is rich so we can afford to lose a few quids while continue to benefit from the system without criticism
I see you point but they wont be given any wealth, neither will they ever have so much wealth they would have big problems managing. For most fair redistribution of wealth would mean be able to buy a house and pay it down, go to restaurant every week for a date and do not have to worry daily about money. Not more. Who would feel it more is the government who effectively needs to get a big chunk of that money back again and use them wisely to ensure education is affordable and quality, healthcare is available to everyone etc. The regular people wont have soo much money they would have troubles managing it ( apart from the individuals overmotivated by fraudsters like Grant Cardone whose financial education is coming out of anecdotes rather than reality ). Most people will simply have a quality life where they dont struggle financially, but not much more. And thats okay, thats actually what we all need.
That is a very privileged point of view. However isnt the most economic literate thing to do is letting nornal people be able to have a decent life, buying houses, buying stuff around the house and raising kids. Because thats not the future we are headed for.
The problem with Thatcherism is that you eventually run out of assets to sell to overseas investors so that they can rip off British consumers.
The other problem with Thatcherism is that it never accounted for lazy entitled millennials who think manual Labour is a Spanish gardener
@omumbeejumbee the national debt is owed to whoever they borrow money from.
The national debt is literally the amount of money in circulation, it's not something anyone intends to pay off anyone.
@@stevecarter8810 it’s literally not that. It’s debt.
when the overseas colonial system collapsed, the ruling classes turned to exploiting their subjects at home
Thanks Gary. I'm just learning about money and economics at 50. Just on the bottom rung of the housing ladder, after years saving a deposit. Barely able to pay a mortgage and keep us clothed and food on the table.... Two degrees and many courses and certificates and apprenticeships under my belt, and exhausted everyday from my gardening job of the past , many, years.
I'm doing my best to share what I'm learning with my teen son, and your vids are helping.
Invest in Bitcoin
I teach revenue law - when it comes to passive income on my course, we refer to it as unearned income - 'money you make in your sleep'. Says it all!
'Here, have some money for... Having money.'
Unless you were given it the initial investment was earned I presume. And by investing it you are taking a risk that you could lose it and the reward for that is the increase in price/passive income.
As always, well said Gary. Thank you for all you do and your effort to open our eyes about the financial realities of our world. And how we can change it together.
Sent to me friends, sent to me mom. Thanks Gary keep it up for all of us
You cannot personal finance your way out of a rapidly "rent everything, own nothing" economy. The millions who use food banks every week, what personal budgeting and bootstraps is getting them out of the extreme wealth inequality that locks people out of wealth building at all?
lefties love globalism. then wonder why wages and work conditions are so low and prices for food and housing are so high. dafties.
One of your best videos Gary. It really hammers home to the aspiring middle class where their position is in society and where it may be in the near future depending on policies
I really wish this was taught in schools, alongside basic algebra. If every school mandated each pupil to have an investment account like a JISA and invest whatever their family could afford each month (£10-50 per month), then by the time young people leave schools they would have a bit of money saved for uni / house deposit and understand how passive income and compounding works.
It also baffles me that the UK does not have a sovereign fund like Norway, Singapore despite politicians wanting to emulate those economies.
Finally I think people should be encouraged to think about things they purchase in terms of assets (generates money) and liabilities (loses money).
The more awareness of how finance and money works the better. So thanks Gary for teaching us about this.
then when they were 18 young people with rich parents would buy each buy 2 houses, and rent one out to those with poor parents.
Absolutely, I'm getting on a bit and have just really started looking at investing and realising it's something I should have done years ago. Even a few grand compounding in a 4-5% savings account for a few decades could make a huge difference. Saying that, it's a lot easier now that we have apps and access to the markets.
They really should teach this in schools.
Ffs talk about grinding the poor further into poverty, you’re just perpetuating the problem yi fannys 😳🤦♀️
@@christinavuyk2026 How is educating schoolchildren on finance perpetuating the problem?
@@billB101 The value of investments can go up or down. Most high risk investments i.e. startups go to zero. So the little that poor people have can be lost if they get overconfident or if they aren't careful.
If wealth is not shared more equitably then social unrest becomes a serious possibility.
large format hunger games! Perhaps we need to bring back slums and allow the lazy and feckless a place to live rather than allways trying to support them at the normal standard of living
This will happen. We don't need more division but it's being accentuated by wealth inequality and I would say there is already unrest. The Brits don't like rising up but look at the French farmers, they do it well
Don't worry, the vast surveillance network and automation of law enforcement + a CBDC used in the same way it is used in China will ensure the wealthy are kept safe.
There probably hasn't been social un rest already because people are less strongly believing in an afterlife..... It's scary to fight back when you don't know what happens after death
@@penderyn8794 well that could work both ways, since the whole idea of an afterlife is designed to control your decisions now
As usual, I’m very much in agreement with Gary. I was taught to try to build passive income over the course of my working life as a way to be able to actually have a retirement at some point. (Passive income paying for Energy and water bills for example). So far I have been able to create a small portfolio (there is more to do), but I can 100% see that this is only going to get harder for younger people who will spend more of their income on housing costs. This is why Gary’s message is so important. Everyone should have a chance to create their own financial security. We should not have to work until we die!
And not work for a small group of people who are mega rich, as Gary says it’s the return of feudalism!
Unfortunately open borders have put pay for many young to own homes now my friend…
@@simonstones1918 yeah that’s not Gary’s message fella, we ain’t here blaming immigrants, perhaps you ought to look at yourself a bit more
@@simonstones1918 What open borders? I have lived in the UK for 35 years, yet when I go on holiday for 2 weeks and come back here, I am asked multiple questions at the border (airport) about where I have been and why, am usually asked when I first came to the UK (even though they obviously have this data on their computer), have to provide my fingerprint on a scanner, etc. When I had my wallet stolen on holiday abroad once, which had my UK biometric residence permit in it (BRP), I was then stuck abroad for nearly 2 months and had to apply for a temporary UK entry visa costing several hundred euros to come back home to the UK, despite having lived here all my adult life.
If a family member just wants to visit me in the UK they have to go through a lengthy visa process with the British Embassy, including providing proof of employment and home ownership in their home country, provide certified bank statements, etc and pay visa fees. Even then, there is no guarantee their visa request will be accepted.
People like you (UK citizens) who can just decide to hop on a cheap flight to Spain tomorrow morning, no visa or anything else required, really have no idea how lucky you are and that you have a freedom to travel and move around the world easily that billions of people do not have, especially if they happen to have been born in a developing country.
This is why we need more intelligent people and less thick people
When I found out about investing and the whole FIRE movement i saw a solution to the problem, but also that the solution to the problem was largely the cause of the problem. I understand why you need to incentive people to invest capital but I still find it insane that I get taxed more on my labour than I do on my capital. Especially when it's capital that doesn't actually produce anything.
Money dont make money but great knowledge does
I think FIRE is kind of a silly life hack, not a serious force for social change. FIRE works well for those tho achieve it, but it doesn't bring us towards a more just economy. They're just gaming the current system. We should all get a share of the surplus we are able to produce as a society (e.g. own a share of the wealth), not merely try to speedrun working life and retire as soon as possible. FIRE is too individualistic and too focused on retirement, basically. I think it's more healthy for an economy to have healthy and happy workforce with a good work life balance. Having an economy where healthy middle aged people retire while the young work even harder to compensate is a bit lopsided, I think. Sure, the total volume of work can go down, but early retirement will still cause a potentially risky generational split, and it's not obviosu to me that retirement is objectively better for the individual than working life, either, so working to push the retirement age downwards isn't inherently good. It's good to work in many ways.
Thank you Gary. I have told my 20 year old son about you, I hope he listens to you. 🤞
Me too 😁 and he does
Cool. But don't let that be at the cost of understanding the principles of economics in the textbooks. Everything Gary says is in the context of a much broader set of economic models. Your kids getting only one very narrow view (as much as you may agree with that view) is not going to be good for them. Always consider the universal knowledge we have on something before deciding where you stand. Your kids should be trained to have that balance and critical mind too.
@@mjpm2409 I agree, he is studying economics at uni so I think Gary’s real world counterbalance will be good for him.
@@mjpm2409 don't under estimate the kids
Another great book is titled: Reclaiming the State by Mitchell and Fazi.
William Mitchell is one of the world's leading heterodox macro economists. It's in story form and covers how our monatery system works. It covers lots of events that have shaped our morden economies globally. No mathematical skill is required, so win, win. It is also written from a socialist perspective of what can be achieved to produce growth for the public good. The book will give a full economic perspective. 🙂
One of your best videos.
Gary
Book was brilliant passing around trying and educate all my family and friends
Keep exposing the truth
Thank you so much .
This is so motivational makes me want to work hard to become an elite asset owner.
I've never thought about it as "Passive Income" but UBI is essentially that.
Actually I had a thought when I was reading Grace Blakeley Vulture Capitalism and she mentioned FTSE tracker passive funds run by the likes of BlackRock who always vote with management in the AGM and I thought "This is UBI but for capitalists!"
Interesting
of course, its passive income from collectively owned state assets, which would only work if there was a gigantic redistribution of wealth (ownership of assets) from the very richest of the 1% to the general public and society (distributed via the state)
Yeah I mean I appreciate Gary has to say he's not a communist or people will demonise him, but this video was pretty much Marx's communist manifesto. If this video resonated with you, I'd recommend giving it a read.
I rent a room in my house, that's also a form of passive income.The nice thing is income is generated from an asset I already own tax free.
I am working to do exactly what you are listening for your goals sir!
Here to study. Love the vision you’re talking about and this content in general!
An economics video I actually understood? Need to binge this channel. Cheers from Portugal.
When my son was 9 months old, CTFs were being phased out, so we opened a JISA account. We started investing £25 a month initially into a low-cost global index fund. As our salary grows, we increase that contribution. 13 years later, the power of compounding took over, and the JISA can pay for three years' worth of university education.
A lesson to my children:
Spend less than you earn. Invest shrewdly. Avoid toxic people and activities. Aim to keep learning throughout your life and practice deferred gratification.
Earn. Spend within your means. Save and invest. Time in the market is far more important than timing the market.
This might have been true four years ago, but not anymore. You can't imagine how much wealth inequality increased during covid, we are all serfs now
Buffet himself couldn’t have said it better. Avoid any get rich quick scheme. Avoid financial advisors as they are disgraceful parasites. Use tax efficient vehicles like an ISA and dollar cost average into a whole market index with low fees, like SPY. The rest is just down to time and patience.
@@sandworm9528you’ve been watching this doomer channel for too long. Get financially literate and invest your money
@@kellywalker4494 only issue with this is we don't have the resources that the likes of buffet has for teams of lawyers to jump through tax loopholes, or lobbying to make sure we get bailed out by gov when the economy inevitably shits itself. The game is rigged so the game has to change
Ironic considering this grifter thinks he can day trade and make a fortune 😂
Keep up the tempo Gary.. put yourself about even more my lad! ....🌻
Gary, please carry on what you're doing, go on national tv again, it will come to light in the end!
Your clarity is so refreshing 🙌🥰
Rentier economy.... Isn't really a sensible structure on which to base a society yet thst is very much what we have become, rather than rewarding industrious and creative behaviours, essentially we reward those who currently have stuff for having stuff.
Thats basically how all societies have been structured since the dawn of civilisation. Rewarding those who have stuff for having stuff is feature, not a bug.
@@MandNsvideos665 basically is doing a lot of heavy lifting in that statement. Although let's give that position credulity just because something has been done doesn't necessarily make it sensible or optimal. Societies have been built on slavery historically, one may have considered that a feature rather than a bug until it was altered. Put the proposition a different way, why should structuring a society around rewarding people who have stuff for having stuff more highly than rewarding the industry or creativeness of citizens remain preferential?
@@philipnorthfield because that's how power works. Slavery wasn't abolished because the wealthy and powerful became "nice" all of sudden. It was abolished because it was less economical for other wealthy people. A slave has to be housed, fed, clothed and looked after medically, which is all overhead for the masters. All while being illiterate and doing basic farm work.
Do you not think its an odd coincidence that slavery was abolished during the same time as the industrial revolution and public education? Capitalists understood that a more flexible and independent workforce was more profitable than a more costly, rigid and more vulnerable direct ownership of people.
@@MandNsvideos665 That isn't an answer to why paying people for having stuff more highly than paying the industry and creativeness of others is a sensible idea or an optimal solution.
Slavery was abolished primarily because merchants weren't happy with the monopolistic nature of the British market held by the Caribbean colonies and concerns about uprisings, but that isn't the point it was how society had been organised and it was made illegal it changed for the better. Other analogies may be democratic change, civil rights, universal healthcare or gender discrimination because it is doesn't mean it has to be.
The interest of the powerful to reward industry and innovation more than just wealth is what drove the industrial revolution arguably to the betterment of all, it certainly has been the case that innovation and production or industry were better rewarded than merely ownership for a significant amount of the twentieth century why should returning to a more feudalistic system be beneficial for society as a whole?
The robber barons of the industrial era have been replaced, in the era of financial capital, by the large investment banksters. Wall Street institutions. The question that arises is how a progressive state should deal with this destructive influence. It is clear that speculative behaviour in international financhel trading of the derivatives markets have damaged the prospects of workers. It is more obvious to us now, when the system comes unstuck through the complexity of these transactions and risk, real economies across the globe suffer. The consequences have been devastating in terms of lost employment, income and wealth of the majority. While it is also clear that they have made a small number of people fabulously wealthy. 2008 was a global consequence of these financial flows of wealth shuffling speculative transactions which have nothing to do the facilitation of trade in real goods and services. Engineered speculative bubbles burst. Why should everyday people put up with this behaviour.
Yanis Varoufakis has titled our current world situation as Techno Feudalism. I believe his analysis is spot on.
Listening to your book. You are such a great story-teller. You do all the voices too! Fantastico!
Interesting way to think about it. A lot of the buy-to-let landlords don't really own anything yet and they are carrying the risk on behalf of the debt owners.
Yep, and relying on tenants to pay the debts they can't afford to manage in the hopes that it'll purchase some equity for them. A winning strategy these past 40 years, but maybe not so much lately.
But he also says in previous videos that the people taking on the debt are being rewarded the most, due to the value of money (which is debt) decreasing in value.
You have to manage LTV, obviously a lot of landlords did not plan for headroom required with inflation and took a heavy hit in FCF. Landlords need risk management and a business case too. There is no such thing as "passive" income - work creates value and that generates wealth. Work = Value.
A lot of buy to let landlords ( in the UK ) are in trouble right now with the increase of interest rates, it's being passed on to their tenants who can't fund the increase. I know people who are trying to offload their buy to let properties with not much success.
@@billB101yeah I got into BTL in 2015 and back out again in 2016 seeing how vulnerable I was to clowning by the tax regime. The changes clearly put selective pressure in favour of hmos and corporate landlords, and against those who simply wanted to move house and let their former home.
The changes were ostensibly to increase housing supply, but with broken affordability checks in place they have not enabled first time buyers, just allowed well established landlords to pick up a few bargains from bit players whose numbers no longer added up.
I think the rent to rent business model is a prime example of the poor working for the rich via asset management. The rent to rent business (usually one or two individuals) will pay the btl landlord a years rent up front so they can rent out each room individually for a profit and cashflow. The landlord then pays more interest back to the bank or uses the 1 years rent for another deposit on another property. Either way the banks get richer and the renters are faced with extortionate rents.
Wealth isn't being "sucked away" from governments, it's being eagerly handed over.
I've just finished reading your book. Very interesting and provides background to your TH-cam message. Thanks for sharing 🐸
Write a book and flog it at every available opportunity; then build a back catalogue of ad enabled videos.
Boom, passive income baby!
How the rich get richer 😂 1£ pound for every book plus the upfront money and 8£ or more cpm because it is a financial channel.
You can do it too broke boy😂
Thanks Gary. Hope you give a talk in the US sometime. I think people should consider how wealth compounds over time as well. So far I buy Dividend Growth stocks and Real Estate Investment Trust with some of every pay check. I'm essentially creating my own pension for when I retire to live off the passive income.
Also I am freakin LOVING the wall ducks. Superb! Shadwell chic! 🦆🦆🦆🐥
You doing good work Gary. Thanks. Keep it up.
Good thinker. Needs to link up with others to get anywhere.... IF the big time passive income owner will let him. 🤔 Great book by the way. 👍
Wealth comes down to ownership of assets and passive income which comes from the ownership. Reducing inequality in the ownership of such assets (be those private or public owned assets) will allow more people to have much more passive income. This will in result give the public more purchasing power above the fundamental living costs, to either buy goods, services or assets which may increase the wealth flows. Ideas like this will solve many of the countless crises we are seeing affecting the general populations of societies, but not the rich super elites.
Wealth is produced by work. Having land lie fallow doesn't produce a single potatoe. You want potatoes? Plant them. This requires work. You can't have wealth from assets merely existing, someone has to do the work. Anything else is either a lie or a result of inequality. In the latter case, it is a zero-sum game. It literally cannot apply to everyone, otherwise it wouldn't be zero-sum.
I agree, The common people should own the stuff.
If only there was a word for the people collectively owning a fair share of the land and the means of production... Hmm.
There is and it's the most corrupt and inequitable type of society.
We need to share share share this channel! Gary is absolutely right !
Everyone share his channel before it is too late. This is so serious.
I’m here because I saw you on lads bible, and it’s good to hear from someone relatable. About to buy your book and binge through your videos.
I walk up a tree lined street where the houses are 800k - 1.2m. 90% of the cars are at least 5 year old Golfs ,fiestas,corolla's. When I get to the new apartments that are 300k-400k, every car is less than 3 years old and prestige marques like BMW, Merc,Tesla. My father pointed this out to me 30 years ago. Wealthy people do not buy depreciating assets. Poor people with notions buy depreciating assets. I got a 15k "car loan" at 6% in 2014 that I put in american index funds. Loan paid off and 38k in isa. Ill have over 100k in 2034 because I didn't buy that car in 2014. Thank you pop.
This is more than likely because sitting inside that 1.2m home is 74 year old Doris and Dave that bought that home in 1981 for 30K, they can barely keep up with the council tax and bills to keep the house running now but refuse to give up their home to downsize. In the apartments the young couple making 100k a year can only afford those flats as mortgage rates have exploded and so has housing cost relative to income.
I agree, most young people today live their lives on a Hamster Wheel. They’re a Salesman’s wet dream, up to their necks in Credit on compound interest & a huge mortgage also!!
I work on new build housing estates & every house has two newish cars sitting on the drive & two young Gen Y or Z indoors, struggling to pays their debts every month.
We baby boomers didn’t have a pot to piss in & worked hard to build ‘wealth’ & you learn at a young age, the lesson of working hard to stay poor.
Doctors also suck at it😂
The economy in the UK has shifted from an industrial one to a financialised economy. People want to earn unearned income through ownership of assets as this has greater returns than traditional labour. Unfortunately we have to take on greater amounts of debt than the previous generation in order to participate in the asset class. Mortgages unlikely to go down as this is less money for the banks to earn on interest payments. Passive income from wealth is sustained by extracting money from the real economy.
We've moved from manufacturing to consuming
Yup.
At the end of the day someone, somewhere has to actually "do" something that is of value.
They miss that bit out.
Regards
Knowledge is power
Hey Gary, haven't watched the video yet, but finished your book. Just wanted to say thanks, it was an awesome and somewhat addictive read. Gave me lots to think about regarding my life choices. Inequality here in Brazil is insane and interest rates have been kept (really) high for ages, I'd love to get your perspective on our future and what we can do to change it.
Cheers, mate!
Hey Gary i really like your content
I remembered your story when I met you as a traveller i was already fascinated ...so glad that you now made it accessible to anyone.
Your analysis is fast becoming the highlight of my Sundays.
I'm sorry to hear that. Sad that it would be a highlight for you. Especially considering Gary's message is hardly groundbreaking nor intelligent.
Actually, I think the country might be better off if Rishi Sunak _didn’t_ get out of bed.
An unelected billionaire seemingly looking after the interests of the common people. Yeah... right.
There's a podcast where the person interviewed says something along the lines of "in a functioning system of government with all the checks and balances Rishi Sunak would've been a junior minister at best. The fact that he's prime minister speaks volumes on how broken our government is".
@@billB101 I don't mind that he is a billionaire, it's just he's not a decent billionaire. He's only serving himself and his wealthy Infosys family.
(Also don't mind that he is not elected as we are not a presidential democracy.)
@@billB101 unelected 👍 Billionaire he is not, his wife is rich, not him. Why do people make up stories. Churchill didn't even like the common people, the great unwashed. They aren't capable of coherent ideas.
@@florian-andreicsolsim652 Speaks volumes on how few viable candidates there are because people don't want to do the job? that's not the system, it's the public. The public are to blame for a Broken Britain, the government isn't your parent, people need to take responsibility for their own bad life decisions.
really like ur vibe! refreshingly down to earth
Gary, you are an absolute legend. Thank you so much for having the heart to help people and seeing the world the way you see it. I love your story and coming from a poor working class family myself, I'm very proud of you. Keep on killing it mate.
Considering the ability to manage your own time is ( to me ) the most valuable commodity out there then yeah, generating a passive income would be great to be honest.
It's a very nice feeling to get up each day, knowingly that how I spend my day is entirely up to me.
Let's not forget that such luxuries usually take a lot of hard work to get yourself in this fortunate position.
@@jjefferyworboys8138I think you missedthe point, in that most people in such a position didn’t get there through “hard work”, but pure circumstance. Inheritance for example. The many people who work their whole lives, often in multiple low wage jobs to make ends meet because their circumstance was less favourable works a whole lot harder. Gary is an exception as he has often explained, and no one can expect to have the same sequence of events happen to them as in Gary’s life.
Except the math doesn't add up. Let's say you are the fridge guy and I am the baker. We both get a small amount of passive income, so we work 10% less. Now everybody has less fridges and less bread. Everybody is effectively poorer, no matter what the number on their bank account says. So where did the passive income money come from?
@@bramvanduijn8086
But you have better fridges that last, say, 50 years, instead of the modern crap that lasts 2-3 years. So you need less production, less waste, less landfill. You have better bread instead of the mass-produced stuff we have now. You buy fewer, but better, things.
That, too, is happiness.
When I got my first house, I was low income (school cook) so I had some friends as lodgers who helped pay the mortgage and bills. A sort of passive income whilst I was trying to establish my catering company.
Now my sons are here we don’t have lodgers bc we don’t have space. I would again though, I like the company. I’m good at looking after people- But there’s no money in it!
Not a lot of money in traditional ‘women’s’ jobs really bc we are so undervalued.
I know a lot about housing maintenance, keeping a home, caring and providing secure, safe and clean environment for others to thrive.
Housing is a big interest of mine, I’d love to put my knowledge and experience to better use, make an income from it but ppl don’t value or listen to those who can’t afford the ear of the most wealthy and powerful.
Now, affordability checks will deny you qualifying for the mortgage
@@stevecarter8810 yeah I had to have a guarantor mortgage bc of my income. They wouldn’t consider the lodgers contributions at all. And this was 15 years ago so really, now I wouldn’t be able to buy that house even if the asking price were still £78,000! Which it wunt be bc even in that city Victorian terrace area the prices are well over £100,000 now.
See if you can set up a housing co-op with the co-operative owning the houses and the members renting from the co-op. If you set it up with a horizontal organisational structure, then it can't become parasitic without destroying itsself. We need alternatives to both human and corporate landlords.
A breadth of fresh air. Love your work sir, keep on being you
Hi Gary, Thanks for the video and advice, I really like how you deliver your message. Will definitely be watching more of your content. Cheers Pal
Another clear explanation of our current dire situation! So many young professionals these days are little more than wage slaves, saddled with debt and renting from rich institutions and people.
the best slave would be one that believes they are free.
What else would you have them do? You gotta live and pay for stuff somehow
Because they lack ambition
‘Young Professionals’, that’s a main problem with younger generations. Now, around 50% of kids leaving Skool go to University, why??!!........I & any Tradesman I work with, left Skool & did our Apprenticeship - we got paid from day one of working. No Student Loans, no University Fees....etc etc. We were in the money from day 1.
And, we got on the property ladder very young, we bought cheap houses in our late Teens & turned them into huge assets. We could, we had the skill & energy. But mostly, we helped each other, my mates were Joiners, Brickies, Sparks etc etc.
We had a £500-£1million Homes, with no mortgage, before the Uni pricks had their first job!!
I’m not a Professional, I’m a Plumber. Every home in the UK has a Plumbing & Heating system, who’s the smart ones, the educated poor or the wealthy dumb Plumbers??
@@TheDickPuller how big is your pension though? Who do you rely on when you get very sick or need surgery or have to go to court?
Loved reading your book on Audible, an eye opener and actually made me laugh quite a bit in parts.
'Reading your book on Audible'. Can you actually read?
@@Humanity101-zp4sq well listen lol
@@Humanity101-zp4sq Can you?! Its right there in black and white they said they "Loved READING your book"
@@casparash5370 Do you even know what 'Audible' is? Not sure your reading skills are up to scratch either.... What a joker!
Good afternoon Gary, thanks for the education 🙏
Thankyou Gary. Always give me hope for my families future. Xx
I own a few properties and I do receive a decent extra income from them. But even if all my friends eventually get a property to rent out and make an extra shilling, what happens to the tenants? These people can't afford deposits to buy a house and end up paying rent more than a mortgage would be and end up in a never ending loop. So while im benefiting from it, its at the expense of someone elses future. To my tenants, im the rich.
I'm glad you see the problem and that you are benefiting at a cost to someone else. But I don't harbour any Ill feeling towards people who've taken advantage of what's on offer to improve their lot. I just don't think it should be permitted. We need to close down the majority of btl and Airbnb to improve things for society
@@gwynsea8162 I agree 100% but until house prices become affordable, nothing will change much. Two people on twenty five grand a year are not going to get enough for a deposit, ever. Depending on where you live, you can double that. Is there any government going to actually put concrete plans in place over the next twenty years to build enough affordable housing?
If they dont, demand is always going to outstrip supply.
@@zerog4261 part of the reason houses are unaffordable is because they are being bought for btl / Airbnb. If it was not possible to own rental properties it would just be competition between people who were able to buy to live in and that would drive prices down due to affordability requirements.
@@gwynsea8162 its definitely part of the problem, though not the entirety of it.
You can stop both tomorrow and it may help down the line but house prices are where they are. They are used as tools as investments, a safe bet and everyone who owns a house is in on the game. I think there has to be a switch in mindset to what a house is, for the whole of society. Its place to live. And lets face it, housing is only one aspect. The laws favour the rich and the poor dream of becoming rich and forgetting the poor.
Maybe Thatcher was right, there is no such thing as society. Just a bunch of humans out for themselves
If you expect to be rich just by working then you are wrong.
I feel strongly that it is the answer.
People are very reluctant to invest for many reasons, e.g. not knowing the track record, not knowing it is safer than cash in the long term.
Overall they are very emotional. Some believe they are massively intelligent and loose money trying to beat the market.
Would be great if a few viewers opened an ISA because of this video
Can you talk about the leasehold scam? I have been paying 5k£ for a no sound insulated flat which lost 5% of its value in the last 2 years and the property management company does not disclose why they chose insurance company A, all they say is they got opinion from experts. The system is designed to keep us poor. Mortgage payment went up from 900 to 1550. Scam
Politics Joe has a decent video on this with a Labour MP who has been trying to break it since new labour.
@@declanquigg6343NewStatesman has one too, with the same MP
The biggest scam in the UK leasehold. Our building insurance doubled basically year on year, £300 odd quid for a 1 bed flat. (No cladding).
Now in a 3 bed semi and my building insurance is circa £100.
Hoping the gov do something about the disgusting leasehold scam soon for you and many others.b
Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $8,000 and got my payout of m $270,500 every months,God bless Chloe Linda Henderson 🇺🇸🇺🇸🇺🇸..
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Chloe Linda Henderson.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
Brilliant. 100% Support. Legend
Thanks for sharing your wisdom and clarity, Gary - it's so good to have a humble, knowledgeable and grounded voice in this kind of space, a man of the people who's escaped the rat race (to whatever extent any of us really can). Much gratitude 🙏 Peace and love to you and yours ✌️💖
The primary difference between passive income and a wellfare state is who's collecting the taxes and decides how the money is spent.
When the tax payer bailed out the Banks in 2008, every Brit could have been issued with shares in those banks, and then when the Banks returned to profit a passive income would have been provided to every Brit. Universal Basic Income is the answer, of the unconditional and conditional kind.
It's worth thinking about democracy from a money based point of view rather than a ballot based point of view, money as votes. Conditional Basic Income means you have money to spend altruistically, say provided in the form of a 'Congressional Crowd Fund', and every quarter everybody gets an equal cut of the tax revenue to spend in the Crowd Fund. This creates a flat economic society which is by definition democratic, ie everyone has the same vote, votes aren't ballots, they're money.
Plotting wealth against population demonstrates a parabolic economic society whose curve indicates different states of equality. Unconditional Basic Income balances inequality by making this curve flat at the bottom, recognising The Economy is The Congress, democratic freedom is the ability to express your demands through those things you want to buy. This is how you achieve equality with diversity.
Ballot based democracy leads to strong leadership, where as money based democracy leads to representative decision making, they are both important in modern economic societies.
Conditional Basic Income or Flat Economic Democracy or Voting with Money, is an idea you most probably haven't heard about, I've not heard anyone talk about it, it doesn't seem to interest anyone? Can you explain that?
The Government (taxpayer) only bailed out 2 UK Banks, Lloyds and RBS (Nat West), the rest didn't need government funds.
The Government/ taxpayer became a stakeholder in those banks.
@@jjefferyworboys8138 And when the banks came back into profit again, what happened to all the money,.. it didn't come back to the tax payer did it? Why can the public receive a 'passive income' as dividends from the bank? That's what you do to shareholders isn't it?
My country banks that got bailed only became profitable from the hole they were in when rates increased 😂
As usual, very well explained and informative - thanks. 😁👍
love a gary vid. life would be so much better if people stopped arguing and fighting and just got well informed on all perspectives.
Start teaching your kids early on about debt and equity. Many kids today don't understand what bonds / gilts are. Bonds / gilts are one of the best forms of passive income vs the headache and risk or renting out property.
But it isn’t going to be solved by teaching kids stuff. We can’t all become investment gurus simply because most jobs just don’t paid enough to amass capital to buy significant assets. You might say ‘get a better job’ but someone is going to have to be doing those less well paid jobs, and if even more people acquire capital to enable them to buy assets, the price of those assets simply goes up further. So you have to save even more capital (as with house prices). So the only solution is to tax those with very high net worth. That will mean their passive income is restricted which will limit their buying power so asset prices don’t continue to spiral upwards.
The long term gilt index is down 42% over the past 5 years and currently pays a yield of 3.9%, far below the yield on most BTL and far below interest on cash or money market funds, currently around 5.2%
Yes, you can buy newly issued gilts directly and get 5% or so, but that offers the prospect of capital loss unless held to maturity and no growth in income or capital. Whereas shares provide the potential of both capital growth and income growth as dividends are increased, likewise property provides the potential of capital growth as house prices increase and income growth as rents increase. Of course this is potential reward for potential risk (risk of a house price crash or stock market crash, plus risk of voids, problem tenants, property damage etc with BTL, but the longer the investment period the lower the risk).
My bank is giving me 3% but interest here is taxed at 28% 😂
Aspiring (under the current system) to live off the backs of others. Sweet. Now to go whiten my teeth, lease a new Mini, and holiday in Dubai...
Every video, words of wisdom come from Gary.
The only way to make change is to build a Business empire with a fair pay structure that involves a percentage of ownership of the business to the workers in an equal way to all employees. Also a big empire has leverage over politicians policies. It’s how you use that leverage what’s matters. Once you’re in that empire bubble I don’t think owners want to give up that power, greed, lifestyle it provides for their family. So this group attacks anyone that trying to balance out wealth which should be the role of elected governments in a democracy. Which is why politicians makes so much money because they’re in that bubble of power, greed, corruption, with nothing holding them to account these days.!!!
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.
I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.
I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.
I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.
I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.
I definitely will like to know more
Good man Gary. Thanks for that.
As someone who also grew up on a council estate and found inspiration by looking out at canary wharf which drove me to doing an internship at Citi at 16. love the pattern of thought you have & agree its the asymmetry of financial info that's leading quality of life in the UK to where it's heading - inspiring to see someone so real and aware on all fronts
Passive income from the stock market and the property market keeps me and my children going. I am helping the kids - and whoever else wants to listen to me - with opening a portfolio of index funds that will eventually become their nest egg.
Love your message Gary and I absolutely believe that personal finance and wealth building should be taught in school! 🔥❤️
People treating homes as an investment instrument will never not leave a bad taste. Understandable though, and I wish you and your family the best.
@@GetGwapThisYear No speculation involved - I simply received some capital gains after selling my house and my summer house! I now live in a relatively small flat.
Guess what happens if everybody does earn enough passive income to live off of. Who will produce the goods you need to buy to live?
@@bramvanduijn8086 guess how you avoid that?
Pay suitable wages for the value workers create. Radical, I know.
@@bramvanduijn8086 guess how you put a stop to the pursuit of passive income? Demand a suitable wage for value created. Radical, I know.