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I've learnt two things from billionaires: to diversify your investments and to constantly put your money to work. This year, I hope to make money investing roughly $88k of my savings in equities.
That is accurate. In my opinion, diversifying one's investments is the best course of action because it can lessen the effects of a market collapse. Examples of diverse asset classes are bonds, real estate, and foreign equities.
That makes sense. I've been investing in stocks for two years, and I currently have a six-figure diversified portfolio thanks to my use of a financial market specialist. However, I want to broaden my horizons this year.
This year, I'm determined to see a financial counsellor, especially since the markets are all at record highs. I don't want to have unrealistic expectations and lose everything.
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
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 .
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Most of my $2m portfolio is in (20% Index funds, 20% CD's 30% Bonds/T-bills and other assets) but I want to explore different strategies for better growth with the current market, just here for ideas
This is the exact thought process of persons handling their portfolio themselves. I will advice you engage guidance to help you make smarter portfolio decisions.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds. Currently, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock crash, Thanks to my CFA.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I’m working on my finances too, aiming to grow $350k into $1M in 3 years with changes to my Roth IRA and 401k. But beyond money, it’s about finding real support and taking the right steps to rebuild after divorce, losing your home, and trying to be the parent your kids need. Stay focused-we can get there together.
@@geodude7116 The first one can't be emphasized enough.. Gotta pay attention to what you're eating is eating.. organic and pasture raised as much as you can.. wild caught seafood (norweign farmed salmon is good though.. they have the highest farming standards in the world for fish
After about 1 year of improving my personal finances, largely with the help of this channel, I can confirm that saving 10-20% of my monthly income has made me much more relaxed. I recently had to undergo expensive dental operation. A year ago this would have ruined my finances, but today it's just "Damn, there goes most of my savings... but it will not ruin me, and anyway this is what I was saving for: unseen expenses."
I've only made roughly 8% total, or 2% annually, from investing 50% of my $150k salary over the past four years. i want to build a good investment portfolio and have been looking at videos and doing research to be more educated. Where should i invest this for stable cashflow?
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10%. Remember to engage guidance so as to aid proper allocations.
@@Eugene-m2v You have a very valid point, There are tons of benefits to having a guidance but here’s one example: My CFA based a small part of my portfolio on Nancy Pelosi’s portfolio, which is completely legal. That portion has gone up 71% in just sixteen months-take that info as you will.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Sure i don't mind. I've stuck with ‘’Jennifer Leigh Hickman ” for years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
My CFA Sharon Ann Meny , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I’m looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you thing I should be buying?
I just turned 49 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $500k
Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like Judith Lynn Staufer I've worked with her for some years and highly recommend her. Check if she meets your criteria.
With a good investment plan that ensures steady income without any doubts I and my hubby are prepared for a well organized retirement. I started investing a year ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.
You say it like it's easy forgetting that not everyone is as lucky as you are. I've invested for months now without any progress. How are you able to do it?
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $21k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
Do not forget that when it comes to investing, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors or “experts” do not influence.
I’d be retiring or working less in 5 years, curious to know how best people split their pay, how much of it goes into savings, spendings, and investments. I earn around $250k per year but nothing significant to show for it yet.
money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider advisory services for better planning
I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted a professional. As of today, I'm just about 10% short of $1m after 100s of thousands invested.
bravo!! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your FA can be of help?
glad to have stumbled upon this, curiously inputted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
If you're not doing it already, I recommend maxing out your 401k contributions (or Roth 401k if eligible/available) while and for as long as you're still working. Then max out your IRA contribution (Roth if eligible - but maybe not based on income; PS - if you're not eligible for Roth IRA, your spouse might be). If you can't come up with enough to max these out, you might consider cutting back on discretionary spending.
Increasing tax rates are the reason I rolled over my 300k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account. I'm now seeking best possible areas or strategy to keep my retirement contributions on track to my $5m goal.
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner.
That's right, My advisr helped me rebalance my $2m portfolio without triggering capital gains taxes by using tax-advantaged accounts and reallocating dividends and new contributions.within my tax bracket. Thanks to her guidance
I've experimented with a few over the past years, but I've stuck with ‘’SHARON CRUMP CLINE” for about five years now, and her performance has been consistently impressive.
Wife and I are 33 with about $800k in investments, excluding home equity and rainy day funds. I've always strived to stay on top of my finances, hoping that being disciplined in my 20s would allow me/us to have more breathing room in our 40s+ but it gets hectic, should we get a partner?
My wife and i (mid 30s) just did our net worth calculation and were astonished to find out that combined we're net worth millionaires, with ~450k in retirement/investments. Years of driving 20+ year old cars with multiple shades of paint (or as i called it, "custom" paint jobs) and knocking out $170k in student loans literally paid off. To people going through the struggle, take it step by (non trademark) baby step. You'll get through it. Its worth it.
I’m 42 with $997k in my 401k. I started working full time right out of high school. I'm still with the same company. I've been in their 401k plan since I was 18. I contribute 10% and get a 4.75% company match. My f/a who isn’t very traditional taught me that compound interest is you best friend. The sooner you start, the better off you are. I didn’t feel the need to mention the roi on brokerage account used under guidance of Monica but surely get a partner.
Monica Mary Strigle is the licensed advsr I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm seeking reliable guide on stock. Does Monica Mary Strigle offer personalized recommendations? I'm overwhelmed by unsolicited talk from others and want to follow a proven expert.
*I didn't become financially independent until I was in my late 40's, and I'm still in my 40's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.*
I'm so happy I made productive decisions about my finances that changed my life forever. I'm 51 living in Melbourne Australia, bought my new mansion in August and hoping to do more if things keep going smoothly for me..
Congratulations dear. You're really doing well for yourself, I'm 49 and my financial life is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that's really a big flex
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
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
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience. If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Having an emergnecy fund is great, but it's worth looking to see if you can also obtain some insurance for your income that would pay out if you were to fall sick. Having an emergency fund allows you to defers the point at which you would have to claim on this insurance, which makes it much more affordable. If you have children, both parents should have life insurance in case the other dies and one of you can't work as much due to childcare responsibilities.
This is a wonderful tutorial. I am 60 and started investing in a 401(k) in 1989. I have saved (and earned interest on that savings) to the point when I can retire today without worry. Had I not taken the steps prescribed in this video, I’d be much less prepared for life after career.
I am really bad with money management , been following your channel for quite a while. I plan to implement these principles once i am done paying by credit card debt. 👍🏼
Hey! Can I reframe this for you please? You are managing your money well by paying off your credit card debt. Lots of people are just racking up more! You’re also looking into future positive money management techniques - that’s all great stuff! Sending some good vibes your way 💫
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Really do recommend and suggest people try adding that 20% personal investment into their respective budgets, if they can, as a 'fun fund' if you will. As someone who's been (and to be honest continues to be) a chronic saver and probably unhealthily disciplined with finances over the last few years, having that percentage (albeit an allocation smaller than 20%) saved per month to spend without feeling guilty does make a difference. Really helps knowing everything else is taken care of but I can still treat myself and cover the 'wants', and that it's not just the needs or essentials and that's it.
Agreed. This idea of paying yourself first really works. If you invest in your future as soon as you know you can cover your basic living costs, you can take advantage of the effect of time and compounding. It also stops you wasting your money on buying 'stuff' just so you have stuff.
Must admit that "buying stuff" for the sake of having it was something I used to do a few years ago. Granted I didn't know that it was "for the sake of having it" at the time, but later on you realise it.
All my 20 percent goes toward my investments. I don’t need much to have a good time. However I do wait at the end of the year to spend at least 2 months of checks on a nice vacation. Sometimes I go on a resort in the Caribbean or just buy a new tech like the latest iPhone or watch. I’m in my 30s and I am on the right track. I want to retire early and comfortably.
This lesson in compound interest at 2:08 is excellent and what young investors need to see to encourage them to start saving early, thanks for putting this in a nice format like this!
Love the 15/65/20 system! It’s a simple yet effective way to balance savings, essential expenses, and personal enjoyment. Building an emergency fund and investing early with compound interest is key to long-term wealth. Great advice for anyone looking to manage their money like the 1%!
Here I thought the rule was 1. Do whatever it takes to get out of debt and secure an emergency fund 2. Lock down basic living expenses (property tax, grocery, gas, electricity, water, trash). 3. At least 65% of gross income toward investing. If you can't do that then the area you live is too expensive time to move. 4. Allocate a small amount of sugar money for blowing on going out or buying toys. 5. When you have a lot of money saved up, feel free to spend a few grand on a nice trip.
That doesn’t sound possible? Is this in the UK? After my tax, NI, pension deduction and student loan deduction I’m left with £3,000 a year if I invested 65% of my gross income…
Hi Nischa, This was interesting. I remember watching a previous video of yours about the intentional spending. You even provided an Excel template for it. In that video you talked about allocating your monthly budget according to a 50-30-20 distribution. In this video, you talk about 15-65-20 or if I reorder it the same way as before - 65-20-15. Can you share what changed between the old video and this one? WHy the change in distribution?
Bc it's all a clickbate. To promote whatever they're selling, and to get views for sponsors. It's just a way to make money, not a way to help YOU make money
@@arturakhmerov1359 Exactly. Lots of valuable information on youtube but by no means get confused most of it is for the content creator to make money so it's just the same stuff repeated over and over.
Is the old allocation for people that are paying off debts like credit cards and personal loans and student loans-consumer debt. And this new allocation is for people who have none of that kind of debt? Just a thought.
Thank you for your video mate…. Since working with Shellane Maxwell, She transformed my investment strategy, my stock portfolio has increased by over 40%, turning a $20,000 investment into $178,000 in less than a year. Her insights on market trends and stock selection have been invaluable. If you’re looking to boost your investments, she’s the one to trust!
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by experts with experience…
I retired at 56 by saving 35-40% in IRA & 401K between 21-55. Time Value of Money & Opportunity Cost are powerful concepts. Freedom at 56 in the U.S.A. means A LOT.
Been doing this for about 2 years now. The system is good, feels comfortable. The UK has become very expensive over the past years though , anything from rent, food, energy to parking, cafes, pubs. I know my friends working in hospitality that back in 2008 could go out, now they can’t anymore.
Question: under which category or % do you put Retirement annuaty, Investments , tax free savings accouts? Its not really a necessity, its not really emergency funds and its not really treating yourself?
It's amazing how history keeps repeating itself, and the urgency to prepare is definitely real, Investing can be the best decision of your financial life. I started my journey in 2021, and it has been the best choice I have made for my finances.
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
I spend around... - 12% for my subscriptions, devices, insurance, transportation and electricity. - 36% Rent. - 27% Grocery. - 13% Saving. - 10% Clothes. I'm not sure if I'm doing well TBH cause I can't spend any cent on travel or vacation or any other thing that might give me a little bit of joy. But I think that's okay for now cause I pay for two.
Don't spend money on clothes, put it in your savings and cancel the subscriptions and don't upgrade your devices. They are not essential. If you want a vacation, put that money in a separate account.
@@anaalves3658 I need to save 10% of my income on clothing so I can invest in good-quality pieces that will last, like a jacket that could serve me for at least 10 years. To dress well, it’s important to have at least two of each essential item-like two pairs of pants and two pairs of shoes. Being well-dressed helps you fit into society better and can even improve financial opportunities by making it easier to build connections. Since I moved to Europe only two years ago from a country with limited resources, I still lack many basic items.
*I'm favoured only God knows how much I praise Him,* $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Ms. Evelyn Vera, you're a miracle.
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.
I’ve always enjoyed your videos. I wonder if you might be able to do a video for people that don’t have a home loan, have investments and have a good job and probably wasting too much money buying other stuff. Thanks again for all of your fantastic advice.
It took me until my early 40s to really stabilize and get to a place of financial stability. Earlier in my life I was just focused on making ends meet. Being able to save money was not really feasible until later in life. I did buy a home at 27 with a rental unit. The home investment (it was a dump) took most of my spare money for a decade. But it’s a tangible assset. Now at 54 I’m in a spot where I could live frugally and retire right now. But that whole thing was a process to get to. I’ll be retiring at 56.
Hi nischa you just fired my brains up my name is Mike and that first explanation made me regret exactly what I have been doing may Allah reward you generously It made me feel like it's too late but I will start the discipline You are a rare Gift to humanity thanks
Excellent advice. But how does this apply to (single) people who work at minimum wage with a kid or two or even three? In other words, who would be doing these minimum-wage jobs if everyone built a business? Or why can't the minimum wage be three or four times more per hour so millions more people would have more disposable income to save and invest? Take a look at “The Working Poor | The Price of the American Dream”documentary on here
Love this! 💸 The '15/65/20 system' sounds like the perfect blueprint for financial freedom-saving smart, spending wisely, and still having fun! 🥳💰 Who's ready to level up their money game? Must watch
Do you think it's a good time to consider selling some stocks, or is it better to hold onto them for the long term? I’m considering rebalancing my $2M portfolios, So I'm curious about the best strategies to invest this year.
THIS IS SO IMPORTANT TO START FROM DAY ONE BIT GUYS IT IS A LOT ABOUT HOW MUCH YOU MAKE, YOU CANT SAVE NOTHING, FOCUS ON MAKING AS MUCH MONEY AS POSSIBLE FIRST AS WELL AS DOING THIS
I also unfortunately didn’t really start until 40. I’m very fortunate however in that I’m in a position to aggressively save and invest now for the next 25 years to have a reasonable retirement. Another trick is to pay yourself first. This really helps keep the lifestyle inflation in check!
My biggest spending category is food. We don't eat out or buy meat except mince, followed by transport. I am the most frugal person I know. I do everything(yes, literally everything) myself, and we own our home. The government ruined the economy over covid with inflation and they are trying to fix it with immigration. Now I'm paying for it and I didn't ask for either.
Ever since Covid, I’m finding that $20K, $30K, $50K, aren’t what they used to be. A car can eat up $50K if you aren’t selective. $100K as a long term goal is admirable, but it isn’t going to get you far in retirement.
I asked chatgpt about Einstein's 8th wonder quote: "It’s often attributed to Einstein, but there’s no verified record of him saying, “Compound interest is the eighth wonder of the world.” The saying likely comes from a misattribution or popular financial lore, as many people credit him with statements about the power of compound interest to highlight its impact on wealth building over time."
I like the idea of this strategy and that it suits any income. But where do costs associated with children fall? Clothes, schooling etc obviously in the 65% but what about their leisure costs? Do they come out of my (our) 20%? Or is there a different ratio strategy? Maybe I (we) should allocate them some money (from my (our) 65%) and apply the same rule to help them manage money early?
What prompted you to buy the black caviar and lambskin bags? Also, do you think they are different enough? I ask this question because I have the caviar bag, but always want to buy the black lambskin bag. I try to explain that because I also have the black lambskin square mini bag. Recently I was going to buy this one a *gtdupe* because it is very cheap.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 50k weekly and this has improved my financial life. Great piece!
The rise in tax rates is why I decided to roll over my 401k to a Roth IRA. I don’t want to be 59 and paying taxes on withdrawals from my retirement account.
I've experimented with a few over the past years, but I've stuck with ‘’SHARON CRUMP CLINE” for about five years now, and her performance has been consistently impressive.
Can you make a series about money management that acknowledges that the wealthiest 1% should not be glorified in any way? Like why are we trying to emulate criminals?
I really liked the video! I've personally gotten myself in a position where if I was intentional, I could re-pay my student finance loan entirely and free up the additional 8-9% of my monthly income that is automatically deducted. Do you have any resources I could look at to see if I'd be better off investment-wise compared to just pushing that same amount into my investments?
Nice vid! Can I ask if you'll ever make a video about the UK stock market and how to get returns from it? The FTSE-100 hasn't performed all that well over the past 20 years. Also, is it possible to invest in the American markets using a British brokerage acct?
Yes, very possible and very simple. You can buy ETFs that track US market indexes, it works in exactly the same way as buying a stock. I hold VUSA (which tracks the S&P500) and VNRT (which tracks the FTSE North America index). There are various other ones but they all track the same index and deliver the same returns, so just go for whichever one charges the lowest ongoing fees.
The key thing to remember is not to start taking your finances seriously when you reach 50. Saving a small amount starting at an early age is a good habit to get into. Also try to avoid copying others around you and how they appear to be spending their money. That is a recipe for disaster for certain.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
Well you got a point truly but right now i feel e commence among other sectors are expected to really see growth but who know i might be wrong, These days the market is filled with surprises.
Honestly, I realized after five years that attempting to predict market outcomes through chart analysis was futile due to the unpredictable nature. My lack of a mentor led to six years of struggle. I transitioned to following the market's direction and adopting a straightforward, disciplined approach.
Interesting, Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
Well I don't comfortably throw recommendations around on the internet, but I've been working with Nancy Magaret Delony. God ! she's brilliant! I'm sure there are others who are good.
Hi Nischa. Great work thanks. Raymond from Uganda. Which category would you put things like contribution to friends' wedding meetings, donations or even tithe?
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Enjoyed the video. Wish you well. Is there a risk that social security payments and eligibility will have to change in future given the USA’s national debt problem? I would be looking to be totally self funded in the long term, if possible.
Terrific Video! and after watching I can honestly say that although my 20% & 15% goes to operating my side hustle eCommerce, investments & eSavings I do feel satisfied in the way I am utilizing money. For myself (and myself only, not for everyone), being single, kids out of the house, extremely low rent in Colorado & paid off vehicles are the governing factors when it came to experiencing financial freedom. Life is easy on the way into this world and should be equally easy on the way out! Thank you Nischa, look forward to seeing more from you in the future!
So, I went through our household budget last night and I have a couple of questions around classification of some out goings. Which bucket does the gardener, and the cleaner come out of, the 65%? Or because it's enabling us to have more "us" time does it come out of the 20%? We are also putting a small amount by into college savings for the kids, where does that come out of, again the 65%? Or is that classed as savings, so the 15%?
2:33 am I not getting something or are you ignoring inflation? 6% is impressive, for a 100% safe bank account - as you wouldnt place your safety cushion in risky stocks, would you? For within 20 years, the market would certainly crash at least once - but 6% is barely over, and sometimes under inflation rate; This means you would have a bigger number on your account (30k), which could buy less which could buy less than the 10k you started with. Or did you mean InflationRate+6% annual return, which seems completely impossible in safe portfolios?
Surely like for like for Janet and Mike would be 10k for 20 years versus 20k for 10 years. Lumps sum versus drip feed not the same. Very interesting details though. Or maybe difference between lump sum and regular investment.
Still waiting for the video about forex/futures traders in the UK, what’s best approach when it comes to taxes, what type of company and so on, especially when you trade other people’s money (prop firms), basically being a contractor.
Nischa......I am writing a book that should come out late this year or early in 2025 that will be a detailed guide to building wealth. This is my area of expertise. It will also provide a great deal of financial literacy to the reader. I think your suggestions are all very solid and would certainly benefit any of your viewers. Also, your income from YT alone should help with your own net worth quite a bit. Keep up the great work.
So do you consider the 15% to be take home pay? I ask because a lot of people fuel their retirement with with automatic deductions from their paychecks.
My essential costs aren’t that high - they are 40% (rent bills and groceries). I invest 19% of my salary and then I have about 6% student loan debt payment. So then I have 35% fun costs. Is that too high? I always feel like it’s not enough so 20% seems very low. I don’t even drink alcohol! But eating out and doing fun things costs so much
have you got somewhere someone can ask you specific questions based on your own circumstances (not public) and get advice, videos are great btw i just wish i knew how to tailor them to my own very specific salary/debt
👉🏽 My free masterclass (limited spots left!): nischa.me/masterclass10
interesting
FYI the link in your description for this masterclass isn’t working (submit button not working). This link in the comments allows you to “submit” but doesn’t go past the loading wheel.
Also didn't work for me, the countdown just led to a frozen screen.
Accent is 😍
This compares Apples with Oranges. If Mike invests 20k at age 40 he will get ~ 35k. Would still show the power of compound interest. 😉
Please how ?
Am a born Christian and sometimes I feel so down 😭 of myself because of low finance but I still believe God😞
It's Maria Angelina Alexander doing she's changed my life. A BROKER- like her is what you need.
$356K monthly is something you should feel differently about....
Lovely! I enjoyed it like I enjoy a $100k monthly around the turn!!!
I've learnt two things from billionaires: to diversify your investments and to constantly put your money to work. This year, I hope to make money investing roughly $88k of my savings in equities.
That is accurate. In my opinion, diversifying one's investments is the best course of action because it can lessen the effects of a market collapse. Examples of diverse asset classes are bonds, real estate, and foreign equities.
That makes sense. I've been investing in stocks for two years, and I currently have a six-figure diversified portfolio thanks to my use of a financial market specialist. However, I want to broaden my horizons this year.
This year, I'm determined to see a financial counsellor, especially since the markets are all at record highs. I don't want to have unrealistic expectations and lose everything.
Using Sharon Ann Meny as my FA has been the best decision I ever made
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
thanks for the tips, I read the book on how to attract money and learned amazing techniques there
But where do people find this information from books? It’s unreal that I haven’t known this until now
Where can i find that book
@ i bought on vexolist i think its limited sale
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 .
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
impressive gains! how can I get your advlsor please, if you dont mind me asking? I could really use a help as of now
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Most of my $2m portfolio is in (20% Index funds, 20% CD's 30% Bonds/T-bills and other assets) but I want to explore different strategies for better growth with the current market, just here for ideas
This is the exact thought process of persons handling their portfolio themselves. I will advice you engage guidance to help you make smarter portfolio decisions.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds. Currently, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock crash, Thanks to my CFA.
Please, how can I reach this expert? I need someone to help me manage my portfolio
“Sonya Lee Mitchell” is based in the U.S. but works with clients everywhere. You can find more info about her online.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
3 things that helped me and literally changed my life
1. I stopped watching porn
2. I read books on Borlest (for money)
3. Stop drinking
I’m working on my finances too, aiming to grow $350k into $1M in 3 years with changes to my Roth IRA and 401k. But beyond money, it’s about finding real support and taking the right steps to rebuild after divorce, losing your home, and trying to be the parent your kids need. Stay focused-we can get there together.
were you already exercising regularly? That's usually an ingredient for these types of transformations.
Congratulations bro 🙏🏽
3 things that most significantly changed my life are eating quality clean food, exercising, and almost no social media.
@@geodude7116 The first one can't be emphasized enough.. Gotta pay attention to what you're eating is eating.. organic and pasture raised as much as you can.. wild caught seafood (norweign farmed salmon is good though.. they have the highest farming standards in the world for fish
After about 1 year of improving my personal finances, largely with the help of this channel, I can confirm that saving 10-20% of my monthly income has made me much more relaxed. I recently had to undergo expensive dental operation. A year ago this would have ruined my finances, but today it's just "Damn, there goes most of my savings... but it will not ruin me, and anyway this is what I was saving for: unseen expenses."
I've only made roughly 8% total, or 2% annually, from investing 50% of my $150k salary over the past four years. i want to build a good investment portfolio and have been looking at videos and doing research to be more educated. Where should i invest this for stable cashflow?
Invest in real estate, ETFs and high-yield savings account.
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10%. Remember to engage guidance so as to aid proper allocations.
@@Eugene-m2v You have a very valid point, There are tons of benefits to having a guidance but here’s one example: My CFA based a small part of my portfolio on Nancy Pelosi’s portfolio, which is completely legal. That portion has gone up 71% in just sixteen months-take that info as you will.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Sure i don't mind. I've stuck with ‘’Jennifer Leigh Hickman ” for years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement
My CFA Sharon Ann Meny , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Every family has that one person who will break the family financial struggle, I hope you become the one
I’m looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you thing I should be buying?
I just turned 49 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $500k
Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like Judith Lynn Staufer I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
With a good investment plan that ensures steady income without any doubts I and my hubby are prepared for a well organized retirement. I started investing a year ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.
You say it like it's easy forgetting that not everyone is as lucky as you are. I've invested for months now without any progress. How are you able to do it?
Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $21k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.
Do not forget that when it comes to investing, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors or “experts” do not influence.
I'm green in the investing space. I work most of the week and barely have time to myself. I'd like to use mentorship. How can I get to him?
Hermanw jonas that’s his gmail okay
I’d be retiring or working less in 5 years, curious to know how best people split their pay, how much of it goes into savings, spendings, and investments. I earn around $250k per year but nothing significant to show for it yet.
money advice is subjective, what works for you may not work for me. I would suggest getting rid of any unnecessary purchases, especially things that cost you monthly, or better still consider advisory services for better planning
I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted a professional. As of today, I'm just about 10% short of $1m after 100s of thousands invested.
bravo!! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your FA can be of help?
glad to have stumbled upon this, curiously inputted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
If you're not doing it already, I recommend maxing out your 401k contributions (or Roth 401k if eligible/available) while and for as long as you're still working. Then max out your IRA contribution (Roth if eligible - but maybe not based on income; PS - if you're not eligible for Roth IRA, your spouse might be).
If you can't come up with enough to max these out, you might consider cutting back on discretionary spending.
Increasing tax rates are the reason I rolled over my 300k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account. I'm now seeking best possible areas or strategy to keep my retirement contributions on track to my $5m goal.
Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.
Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner.
That's right, My advisr helped me rebalance my $2m portfolio without triggering capital gains taxes by using tax-advantaged accounts and reallocating dividends and new contributions.within my tax bracket. Thanks to her guidance
Can you share details of your advis0r?
I've experimented with a few over the past years, but I've stuck with ‘’SHARON CRUMP CLINE” for about five years now, and her performance has been consistently impressive.
Wife and I are 33 with about $800k in investments, excluding home equity and rainy day funds. I've always strived to stay on top of my finances, hoping that being disciplined in my 20s would allow me/us to have more breathing room in our 40s+ but it gets hectic, should we get a partner?
My wife and i (mid 30s) just did our net worth calculation and were astonished to find out that combined we're net worth millionaires, with ~450k in retirement/investments. Years of driving 20+ year old cars with multiple shades of paint (or as i called it, "custom" paint jobs) and knocking out $170k in student loans literally paid off. To people going through the struggle, take it step by (non trademark) baby step. You'll get through it. Its worth it.
I’m 42 with $997k in my 401k. I started working full time right out of high school. I'm still with the same company. I've been in their 401k plan since I was 18. I contribute 10% and get a 4.75% company match. My f/a who isn’t very traditional taught me that compound interest is you best friend. The sooner you start, the better off you are. I didn’t feel the need to mention the roi on brokerage account used under guidance of Monica but surely get a partner.
Who is this person you work with ? Monica ? Can I get a phone number?
Monica Mary Strigle is the licensed advsr I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I'm seeking reliable guide on stock. Does Monica Mary Strigle offer personalized recommendations? I'm overwhelmed by unsolicited talk from others and want to follow a proven expert.
*I didn't become financially independent until I was in my late 40's, and I'm still in my 40's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.*
I'm so happy I made productive decisions about my finances that changed my life forever. I'm 51 living in Melbourne Australia, bought my new mansion in August and hoping to do more if things keep going smoothly for me..
Congratulations dear. You're really doing well for yourself, I'm 49 and my financial life is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that's really a big flex
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
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
How can i reach this Tracy Britt Cool Consulting, if you don't mind me asking? I've known her by her reputation at Berkshire Hathaway
Her name is Tracy Britt Cool Consulting.
Great fondation advice to building wealth and a secure life! I did this for 33 years with boring low cost mutual funds and now I'm retired and secure.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience. If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Svetlana Sarkisian Chowdhury is her name, i have been working with her for years. you can search the name
If you're just starting, I wouldn't even look for individual stocks. Find a decent Vanguard index fund, and just put it in there.
Having an emergnecy fund is great, but it's worth looking to see if you can also obtain some insurance for your income that would pay out if you were to fall sick. Having an emergency fund allows you to defers the point at which you would have to claim on this insurance, which makes it much more affordable. If you have children, both parents should have life insurance in case the other dies and one of you can't work as much due to childcare responsibilities.
Yes, especially the father.
This is a wonderful tutorial. I am 60 and started investing in a 401(k) in 1989. I have saved (and earned interest on that savings) to the point when I can retire today without worry. Had I not taken the steps prescribed in this video, I’d be much less prepared for life after career.
I am really bad with money management , been following your channel for quite a while. I plan to implement these principles once i am done paying by credit card debt. 👍🏼
I feel you. Don't give up!
Hey! Can I reframe this for you please?
You are managing your money well by paying off your credit card debt. Lots of people are just racking up more!
You’re also looking into future positive money management techniques - that’s all great stuff! Sending some good vibes your way 💫
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
As a newbie, what do I need to do? How can I invest, on which platform? If you know, please share. I'm new to this, please how can I contact her?
Use her name to quickly conduct an internet search.
I want to be part of this success... I need to contact Evelyn immediately. Thanks for the info
Really do recommend and suggest people try adding that 20% personal investment into their respective budgets, if they can, as a 'fun fund' if you will. As someone who's been (and to be honest continues to be) a chronic saver and probably unhealthily disciplined with finances over the last few years, having that percentage (albeit an allocation smaller than 20%) saved per month to spend without feeling guilty does make a difference. Really helps knowing everything else is taken care of but I can still treat myself and cover the 'wants', and that it's not just the needs or essentials and that's it.
Agreed. This idea of paying yourself first really works. If you invest in your future as soon as you know you can cover your basic living costs, you can take advantage of the effect of time and compounding. It also stops you wasting your money on buying 'stuff' just so you have stuff.
Must admit that "buying stuff" for the sake of having it was something I used to do a few years ago. Granted I didn't know that it was "for the sake of having it" at the time, but later on you realise it.
All my 20 percent goes toward my investments. I don’t need much to have a good time. However I do wait at the end of the year to spend at least 2 months of checks on a nice vacation. Sometimes I go on a resort in the Caribbean or just buy a new tech like the latest iPhone or watch. I’m in my 30s and I am on the right track. I want to retire early and comfortably.
This lesson in compound interest at 2:08 is excellent and what young investors need to see to encourage them to start saving early, thanks for putting this in a nice format like this!
Love the 15/65/20 system! It’s a simple yet effective way to balance savings, essential expenses, and personal enjoyment. Building an emergency fund and investing early with compound interest is key to long-term wealth. Great advice for anyone looking to manage their money like the 1%!
Here I thought the rule was
1. Do whatever it takes to get out of debt and secure an emergency fund
2. Lock down basic living expenses (property tax, grocery, gas, electricity, water, trash).
3. At least 65% of gross income toward investing. If you can't do that then the area you live is too expensive time to move.
4. Allocate a small amount of sugar money for blowing on going out or buying toys.
5. When you have a lot of money saved up, feel free to spend a few grand on a nice trip.
That doesn’t sound possible? Is this in the UK? After my tax, NI, pension deduction and student loan deduction I’m left with £3,000 a year if I invested 65% of my gross income…
Before I watched this video I thought the 65% is for investing 😊
15 for basic survival
20 for spending on enjoyment
65% investing? Okay 😂
@@BigPhil2024 👏👏
Hi Nischa,
This was interesting.
I remember watching a previous video of yours about the intentional spending. You even provided an Excel template for it. In that video you talked about allocating your monthly budget according to a 50-30-20 distribution.
In this video, you talk about 15-65-20 or if I reorder it the same way as before - 65-20-15.
Can you share what changed between the old video and this one? WHy the change in distribution?
YEAH! @Nischa hmm hmmm waiting!
Love how serious her viewers are.
Bc it's all a clickbate. To promote whatever they're selling, and to get views for sponsors. It's just a way to make money, not a way to help YOU make money
@@arturakhmerov1359 Exactly. Lots of valuable information on youtube but by no means get confused most of it is for the content creator to make money so it's just the same stuff repeated over and over.
Is the old allocation for people that are paying off debts like credit cards and personal loans and student loans-consumer debt. And this new allocation is for people who have none of that kind of debt? Just a thought.
I have seen so many financial influencers but I genuinely find your videos helpful and calming too and plus you are so pretty!!
Thank you for your video mate…. Since working with Shellane Maxwell, She transformed my investment strategy, my stock portfolio has increased by over 40%, turning a $20,000 investment into $178,000 in less than a year. Her insights on market trends and stock selection have been invaluable. If you’re looking to boost your investments, she’s the one to trust!
She mostly interacts on Telegrams, using her name
@shellanemaxwell
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by experts with experience…
Wow I’m surprise to come across her here, After following her advice, my stock portfolio increased by 40% in just one year!
Thanks to her tax strategies, I saved over $50,000 last year
I retired at 56 by saving 35-40% in IRA & 401K between 21-55.
Time Value of Money & Opportunity Cost are powerful concepts.
Freedom at 56 in the U.S.A. means A LOT.
Been doing this for about 2 years now. The system is good, feels comfortable. The UK has become very expensive over the past years though , anything from rent, food, energy to parking, cafes, pubs. I know my friends working in hospitality that back in 2008 could go out, now they can’t anymore.
Question: under which category or % do you put Retirement annuaty, Investments , tax free savings accouts? Its not really a necessity, its not really emergency funds and its not really treating yourself?
It's amazing how history keeps repeating itself, and the urgency to prepare is definitely real, Investing can be the best decision of your financial life. I started my journey in 2021, and it has been the best choice I have made for my finances.
What's the best way to begin, and how long until it starts yielding profits?
I’ve been saving for a long time instead of investing, and right now I only have about $516k. I'm not sure how to make it grow, considering all the inflation, into something substantial that I might use for retirement. I’m just here for ideas
I spend around...
- 12% for my subscriptions, devices, insurance, transportation and electricity.
- 36% Rent.
- 27% Grocery.
- 13% Saving.
- 10% Clothes.
I'm not sure if I'm doing well TBH cause I can't spend any cent on travel or vacation or any other thing that might give me a little bit of joy. But I think that's okay for now cause I pay for two.
You’re not doing well until you have a significant % going to retirement and savings.
Don't spend money on clothes, put it in your savings and cancel the subscriptions and don't upgrade your devices. They are not essential. If you want a vacation, put that money in a separate account.
@@anaalves3658 I need to save 10% of my income on clothing so I can invest in good-quality pieces that will last, like a jacket that could serve me for at least 10 years. To dress well, it’s important to have at least two of each essential item-like two pairs of pants and two pairs of shoes. Being well-dressed helps you fit into society better and can even improve financial opportunities by making it easier to build connections.
Since I moved to Europe only two years ago from a country with limited resources, I still lack many basic items.
I am impressed with your update on these stocks, now my question is which is best to buy at this time. I have some liquid assets to diversify.
*I'm favoured only God knows how much I praise Him,* $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?.. I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Ms. Evelyn Vera, you're a miracle.
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in
US and Canada she is really amazing woman with good skills and experience.
I’ve always enjoyed your videos. I wonder if you might be able to do a video for people that don’t have a home loan, have investments and have a good job and probably wasting too much money buying other stuff. Thanks again for all of your fantastic advice.
It took me until my early 40s to really stabilize and get to a place of financial stability. Earlier in my life I was just focused on making ends meet. Being able to save money was not really feasible until later in life. I did buy a home at 27 with a rental unit. The home investment (it was a dump) took most of my spare money for a decade. But it’s a tangible assset. Now at 54 I’m in a spot where I could live frugally and retire right now. But that whole thing was a process to get to. I’ll be retiring at 56.
Hi nischa you just fired my brains up my name is Mike and that first explanation made me regret exactly what I have been doing may Allah reward you generously
It made me feel like it's too late but I will start the discipline
You are a rare Gift to humanity thanks
A key take away here is to TAKE ACTION! great video Nischa 👏🏽
Excellent advice. But how does this apply to (single) people who work at minimum wage with a kid or two or even three? In other words, who would be doing these minimum-wage jobs if everyone built a business? Or why can't the minimum wage be three or four times more per hour so millions more people would have more disposable income to save and invest?
Take a look at “The Working Poor | The Price of the American Dream”documentary on here
Love this! 💸 The '15/65/20 system' sounds like the perfect blueprint for financial freedom-saving smart, spending wisely, and still having fun! 🥳💰 Who's ready to level up their money game? Must watch
Do you think it's a good time to consider selling some stocks, or is it better to hold onto them for the long term? I’m considering rebalancing my $2M portfolios, So I'm curious about the best strategies to invest this year.
THIS IS SO IMPORTANT TO START FROM DAY ONE BIT GUYS IT IS A LOT ABOUT HOW MUCH YOU MAKE, YOU CANT SAVE NOTHING, FOCUS ON MAKING AS MUCH MONEY AS POSSIBLE FIRST AS WELL AS DOING THIS
I also unfortunately didn’t really start until 40. I’m very fortunate however in that I’m in a position to aggressively save and invest now for the next 25 years to have a reasonable retirement. Another trick is to pay yourself first. This really helps keep the lifestyle inflation in check!
ya. check out aubrey de grey to get more life
" It's not about how much you make, it's about how you manage what you make." Truer words have never been said
My biggest spending category is food. We don't eat out or buy meat except mince, followed by transport. I am the most frugal person I know. I do everything(yes, literally everything) myself, and we own our home. The government ruined the economy over covid with inflation and they are trying to fix it with immigration. Now I'm paying for it and I didn't ask for either.
Ever since Covid, I’m finding that $20K, $30K, $50K, aren’t what they used to be. A car can eat up $50K if you aren’t selective. $100K as a long term goal is admirable, but it isn’t going to get you far in retirement.
Yet another no nonsense video 😍
This video was super helpful and I love all the visuals. Thank you! I’m definitely going to implement this into my budgeting style.
I asked chatgpt about Einstein's 8th wonder quote: "It’s often attributed to Einstein, but there’s no verified record of him saying, “Compound interest is the eighth wonder of the world.” The saying likely comes from a misattribution or popular financial lore, as many people credit him with statements about the power of compound interest to highlight its impact on wealth building over time."
I like the idea of this strategy and that it suits any income. But where do costs associated with children fall? Clothes, schooling etc obviously in the 65% but what about their leisure costs? Do they come out of my (our) 20%? Or is there a different ratio strategy? Maybe I (we) should allocate them some money (from my (our) 65%) and apply the same rule to help them manage money early?
Hi Nischa, Thanks so much for your videos so far. They are really helpful. What editing software do you use ? Any suggestions for 45+ old people ? 🙂.
What do you think about the 7 Dave Ramsey baby steps？ Thanks.
What prompted you to buy the black caviar and lambskin bags? Also, do you think they are different enough? I ask this question because I have the caviar bag, but always want to buy the black lambskin bag. I try to explain that because I also have the black lambskin square mini bag. Recently I was going to buy this one a *gtdupe* because it is very cheap.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 50k weekly and this has improved my financial life. Great piece!
Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
She's Olivia Sullivan financials
How do I access her ? I really need this
+133
+ 133
The rise in tax rates is why I decided to roll over my 401k to a Roth IRA. I don’t want to be 59 and paying taxes on withdrawals from my retirement account.
I'm doing the same for the past several years.
I've experimented with a few over the past years, but I've stuck with ‘’SHARON CRUMP CLINE” for about five years now, and her performance has been consistently impressive.
Can you make a series about money management that acknowledges that the wealthiest 1% should not be glorified in any way? Like why are we trying to emulate criminals?
I really liked the video! I've personally gotten myself in a position where if I was intentional, I could re-pay my student finance loan entirely and free up the additional 8-9% of my monthly income that is automatically deducted. Do you have any resources I could look at to see if I'd be better off investment-wise compared to just pushing that same amount into my investments?
I pay myself first now, and let the fear of not being able to pay the rest of my bills, motivate me to make more money. Scary, but worth it over time.
Nice vid! Can I ask if you'll ever make a video about the UK stock market and how to get returns from it? The FTSE-100 hasn't performed all that well over the past 20 years.
Also, is it possible to invest in the American markets using a British brokerage acct?
Yes, very possible and very simple. You can buy ETFs that track US market indexes, it works in exactly the same way as buying a stock. I hold VUSA (which tracks the S&P500) and VNRT (which tracks the FTSE North America index). There are various other ones but they all track the same index and deliver the same returns, so just go for whichever one charges the lowest ongoing fees.
Chapters
00:00:00 - Key Money Management
00:01:08 - Emergency Fund Importance
00:02:06 - Power of Compound Interest
00:03:20 - Workplace Retirement Plans
00:04:03 - Tax-Advantaged Accounts
00:04:48 - Investing in Passive Funds
00:06:46 - Managing Fundamental Expenses
00:08:27 - Guilt-Free Spending
00:10:03 - Conclusion & Recap
The key thing to remember is not to start taking your finances seriously when you reach 50. Saving a small amount starting at an early age is a good habit to get into. Also try to avoid copying others around you and how they appear to be spending their money. That is a recipe for disaster for certain.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?
Well you got a point truly but right now i feel e commence among other sectors are expected to really see growth but who know i might be wrong, These days the market is filled with surprises.
Honestly, I realized after five years that attempting to predict market outcomes through chart analysis was futile due to the unpredictable nature. My lack of a mentor led to six years of struggle. I transitioned to following the market's direction and adopting a straightforward, disciplined approach.
Interesting, Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
Well I don't comfortably throw recommendations around on the internet, but I've been working with Nancy Magaret Delony. God ! she's brilliant! I'm sure there are others who are good.
thanks for putting this out, it has truly rekindled the fire to my goal..
Had a question about a game, and 4ra's support was right there, super quick! 🕒🙌
Her videos are full of valuable information, but honestly I could watch them even if I was deaf, just because she’s so gorgeous 😅
Hi Nischa. Great work thanks. Raymond from Uganda. Which category would you put things like contribution to friends' wedding meetings, donations or even tithe?
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Enjoyed the video. Wish you well. Is there a risk that social security payments and eligibility will have to change in future given the USA’s national debt problem? I would be looking to be totally self funded in the long term, if possible.
Terrific Video! and after watching I can honestly say that although my 20% & 15% goes to operating my side hustle eCommerce, investments & eSavings I do feel satisfied in the way I am utilizing money. For myself (and myself only, not for everyone), being single, kids out of the house, extremely low rent in Colorado & paid off vehicles are the governing factors when it came to experiencing financial freedom. Life is easy on the way into this world and should be equally easy on the way out! Thank you Nischa, look forward to seeing more from you in the future!
I have been trying to teach my children this but they refuse to listen. What can I do? 😢😢😢
I love the opening statement Nischa! Great video, I always learn something every time! 🙏💯
Nischa please videos for retirees. KeepSmiling 😊🌺
So, I went through our household budget last night and I have a couple of questions around classification of some out goings. Which bucket does the gardener, and the cleaner come out of, the 65%? Or because it's enabling us to have more "us" time does it come out of the 20%? We are also putting a small amount by into college savings for the kids, where does that come out of, again the 65%? Or is that classed as savings, so the 15%?
Can I move it around and make it the 20/65/15 rule? This works out better for me
Imagine if Janet not only invested $10 at the start of her investment journey but also contributed 15-20% of her income each paycheck.
I keep coming back to 4ra for the crisp and clear graphics, feels like a video game 🎮👾
So are you recommending investing your solution fund?
I've tended to lean more on 50/30/20... ie 50% committed spending, 30% disposable, 20% saved
I’m in love 😻 that accent and beautiful skin color 🔥
2:33 am I not getting something or are you ignoring inflation?
6% is impressive, for a 100% safe bank account -
as you wouldnt place your safety cushion in risky stocks, would you? For within 20 years, the market would certainly crash at least once -
but 6% is barely over, and sometimes under inflation rate;
This means you would have a bigger number on your account (30k), which could buy less which could buy less than the 10k you started with.
Or did you mean InflationRate+6% annual return, which seems completely impossible in safe portfolios?
Surely like for like for Janet and Mike would be 10k for 20 years versus 20k for 10 years. Lumps sum versus drip feed not the same. Very interesting details though. Or maybe difference between lump sum and regular investment.
under which category will you put savings for children that they get when they turn 18?
Should this reflect your gross or net income?
I’m a simple man. When I see that Nischa uploads a new video… I CLICK!
It's a good thing that you give such good information in your videos. (I would still listen to you if you were talking about chalk).
Good one Nischa .
Keep up your good work
Still waiting for the video about forex/futures traders in the UK, what’s best approach when it comes to taxes, what type of company and so on, especially when you trade other people’s money (prop firms), basically being a contractor.
Nischa......I am writing a book that should come out late this year or early in 2025 that will be a detailed guide to building wealth. This is my area of expertise. It will also provide a great deal of financial literacy to the reader. I think your suggestions are all very solid and would certainly benefit any of your viewers. Also, your income from YT alone should help with your own net worth quite a bit. Keep up the great work.
So do you consider the 15% to be take home pay? I ask because a lot of people fuel their retirement with with automatic deductions from their paychecks.
Brilliant content - you are a natural presenter. Well done.
My essential costs aren’t that high - they are 40% (rent bills and groceries). I invest 19% of my salary and then I have about 6% student loan debt payment. So then I have 35% fun costs. Is that too high? I always feel like it’s not enough so 20% seems very low. I don’t even drink alcohol! But eating out and doing fun things costs so much
have you got somewhere someone can ask you specific questions based on your own circumstances (not public) and get advice, videos are great btw i just wish i knew how to tailor them to my own very specific salary/debt
Really useful great presenting style too.
Thanks for the information! Be blessed and stay healthy! One Love ❤️