Saving isn't enough, do this instead.
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- เผยแพร่เมื่อ 27 พ.ย. 2023
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Spent so much time learning this over the last few months. Understanding the Money Printing process thats gone on over the last few decades has opened my eyes massively.
Melting ice cube
Opt out save in bitcoin
As a recruiter, I lose a lot of candidates to counter-offers, and it makes me wonder why more people don't utilize this. Just interview for other roles (even if you're satisfied with your current employer) until you're made an offer that's more than your current salary. Use that to leverage a risk-free payrise. The VAST majority of employers will agree to at least match your offer, as it's very expensive to replace you/train your replacement/productivity loss etc.
Most companies spend money on new employees but they never wanna do this for current employees. This is the reason why it is easier to get a 15% raise while changing the company as a 5% raise staying in your company.
1.) Get a skill
2.) Negotiate a Raise/ See about a promotion (u dont ask u dont get...)
3.) Research dif careers/perhaps land a dif job (dont just be stuck at ur current job if u want more monies)
4.) Monetize your passions (if u have a hobby consider turning into a side hustle....sell stuff/courses/etc)
just some key points
The real inflation rate is about 5% per year.
You can't save enough to keep pace with inflation, no matter how good a saver you are.
Earning money is the only way to survive - that's why so many retirees have to return to work because real inflation is destroying their savings.
High-income skills:
1. Programming
2. UI & UX Design
3. Data Science, AI, Machine learning
4. Digital Marketing
5. Sales, negotiation, persuasion
6. Copywriting, Content creation
There is a limit to how much you can save, but there isn't a limit to how much you can earn. I love that. Great video, Oliur!
Im working a full 40+ hr job then going to school Monday - Thursday. This hustle culture will burn you out and have you yelling at yourself as a bum in the street. Give yourself grace and work smarter. Saving is enough when you invest that extra money into growing your skillset. Become a Plumber on the side, not a social media influencer
Most people cannot increase their salaries. They can add more income sources, but if they are willing to take the burden, then sure.
Limit your spending. The first rule of finance is to invest with the money that comes before your spending.
Your savings and investment funds shouldn’t be the result of income - expenditure.
Instead, it should be income - investment money - savings = expenditure.
Just get a smaller house. Forget the dreams of a fancy car. And live a simple life if you don’t wish to take the burden. Increasing your income sources isn’t easy either. It’s doable.
bruh more streams of income = more stress for me, im already freaking tired working 10-6 full time job, I THINK IM GOOD
i love your videos man, please keep releasing videos for ever!
17:14 As an Australian this is true, however, the wage difference especially after the conversion from pounds to AUD is a massive difference. lots of them do tend to move back to Aus (had some friends in IT) but when I hear stories of the big differences in pay and work culture .. It makes sense.
I feel comfort of his sound quality
Really clear great overview, I think it would be really valuable if you could potentially outline or go a bit deeper into "networking". I've realised this is something I haven't put much time and effort into and would love a 101. I've got regular practices and developed mindsets on design and would love the same "routine" but for networking!
I think its still important to budget and understand where your money is going. I’ve seen so many cases of high income earners still be in debt because they didn’t understand how to manage their money even with their higher income
I really think opting in to minimalism helps. It really helps crystalize what we value and what we want from life. Starting with a "why" is the only thing that helps me stay the course (my why is my wife and kid, they're worth any little sacrifice I can make)
I am an accountant and I wouldn't call accounting a boring job. You actually need to be really good at problem solving, logical thinking and stress management during month end closing periods, also being precise is key. The stress can give you a really nice adrenalin rush to be honest.
Creatives need to spend more time learning accounting principles and not brushing over them.
@@ThisDesignLifeyou know any resources that i can use?
Your stuffs great Oli, love your work brother.
Lmao ‘typical Asian stuff’ - felt that to my core!
Fantastic video as always. I’ve always been on this opinion and I’m glad it’s starting to take hold. I’ve managed to travel very well in my 20s and buy my own place just from doing two jobs. It’s provided income when I was made redundant one my main one too - such an underrated mindset. Thank you! X
Hi do you have a promo code for the video course?
Your videos literally pop up at the time I need them! Love this, I am currently at a career shift. I made lyric videos n promo vids for artists all over the world but im bored and the money is mediocre so I am going Full time video editor for TH-cam and hopefully big clients
Any update on how its going for you so far?
❤❤High quality content as usual! Thank you so much!
Do you have another link to Javascript?
At 60 Years old you’d have around $730,000 by simply putting that money in a 4.25% savings account. So that $360,000 number he gave makes no sense. Obviously you’d be saving money in a SAVINGS ACCOUNT.
The figure of $730,000 that you have arrived at does not take inflation into account. Assuming you are currently 60 years old, 40 years from now, the value of $730,000 will not be equivalent to its current value as you understand it. That is how that number was derived, which makes perfect sense. Hell, it might even be way less than $360,00 if we are talking 30+ years.
Great video! The link is for free Python guide (not Javascript), still a great language to learn though!
Fantastic video lad.
Personally saving has worked wonders for me helping me pay off my house I don't really care for expensive branded items or seeing the world I would just rather be comfortable and content rather than waste more time trying to earn more while getting taxed more the less you need the less you want
loved your content brother 😊
Where do you stand when it comes to saving for a property?
Top video as always - I expanded on this in my channel
building your body is good advice.
Why does it have to be one or the other? Why shouldn’t you save more AND earn more?
You can only save so much
earning alot of money a year is not a problem... its keep doing it years for years
It gets even crazier when instead of saving the $5k each month you invest it. Investing $5000 into S&P500 monthly for 30 years, with the 7% return in your example, will result in $5.5M at the end of the period. That $126 000 will actually be > $396 000. Shows the combination of increasing income and investing early is the key.
Cool video!
I think it should be made clear that all this is with the assumption you have an emergency savings built up, little to no debt, and fairly stable budget habits. These should take priority over the risk of pursuing a new career path that could net a higher earning.
Love your content, how can I reach out to discuss a potential partnership?
You can’t save yourself to wealth
Gotta earn it
Bro, noob question. Is it smart to buy an 18k gold worth $600-$1000 per year for the next 10 years keeping it then sell it or should I do retail business? I am in the Philippines right now.
Oliur, I want to earn more. Do you think freelance landing page design is something worth pursuing? (Im a UI designer trying to get to $5-10K/mo)
pls make a video for teenagers about this
Hello friend. Greetings from the USA. Good content. 🇺🇸
damn right
It’s very true that earnings have a lot of impact on savings. I changed my employer and now I earn around 50% more than before, for a very similar job. As a result I am saving 4 times more money each month.
True, but if you strive to earn more money but dont learn to budget and save, then you're just chasing your tail. I'd suggest doing both i.e. earn more, budget, save & invest. They all work hand in hand. I know people who are paid mega bucks but are broke because they're not wise with their money. Just my 2p's worth 😀
Come here in Dubai! :)
Can you also start this at 45?
Better late than never
The best time to begin was yesterday. The second best time is now. Good luck 👍
$1500 to rent a bedroom, job sucks, people bad aura, life is tough.
Move abroad.
i live in dubai, come here and teach me your ways lol
No way make more money to save more
If you want to earn more - you have to work longer, harder == not enjoying your life at all
First
I studied accounting too haha it is really boring
Only fans hahaha.
Subscribed Gang
Love from Africa
Hey Oliur, I've been enjoying your content for some time now, and I appreciate your efforts. Much love ❤️. I like your thumbnails, but I've got some ideas and the design skills to make them pop a lot more, compelling more prospective viewers to click and boost views.
To build trust i'll like to offer you a FREE trial of a thumbnail Design.Allow me to provide you with this free trial, enabling us to gauge the potential of our collaboration moving forward.
Look forward to collaborating with you.
Open to chat?
Really appreciate all your information that your share with us 🤍💚🩶