The 7 Habits of Millionaires
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The 7 Habits of Millionaires
Changing your money habits can change your life! Today, we are going to look at the habits millionaires make. The more bad habits you kick and good habits you follow, the more successful you'll be with money.
Links:
Budgeting For Beginners: • Budgeting For Beginner...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
1. Continuously be learning
2. Being disciplined
3. Practice delayed gratification
4. Stay away from debt
5. Budget
6. Don't let food bust your budget
7. Be Generous
#2 and #3 are key, which leads to the others on the list.
very pleasant and informative life. Increasing your income should always be our priority objective to enable a good retirement. passive income plays a vital role in getting rich that's why I always make sure to invest in others to earn that have paid off a lot
Airbnb is a good investment but it requires capital, I'm in it too, it's good but crypto trading has been the main source of my income even though I barely trade. I earn a minimum profit of 4,500 dollars from my cryptocurrency trading investments
I work with an expert Larry Kent Burton, his consistency in making profits makes him exceptional compared to other traders. I appreciate his services
He's on Instagram***
@ Larry Kent Nick Trading **
I also work with him, it's very impressive, meeting this man was a blessing, I never thought I would make so much profit in such a short time, that's why I call him most of the time a wizard, his services are reliable
One of the best wealth building habits I've learned is ... don't go shopping for anything unless you have something specific I NEED, not just something I WANT.
Paid off my car today
Me too! 🎉🎉🎉
🍻
First of all, the person who edits the video needs a RAISE!! Such great cuts in there!!
I set a goal back in January to read 52 books this year. I finished book 52 at the end of July! I was telling my friends that it's no coincidence that setting that goal then bled into other areas of my life. Got a new job with a 39% paybump, made a plan to tackle baby step 2, and got elected to a position on a board of directors! Hopefully, I'll add millionaire to the list in a few years ;)
Fast food and alcohol. It wasn’t until I took a look at my monthly statement to realize how much I was spending
Don't forget to look at the scale either
My best money habit was learning to cook. I'm a Le Cordon Bleu-trained chef so I can make whatever I want at home and can count on one hand the number of times I eat out or get food delivered in a year. When I was broke, my food budget was $100/month and I was the master of $1 meals.
seriously. people really need to get over the mindset of eating out is cheaper than cooking at home. or quicker. neither of which is true. and restaurant prices are only getting worse.
@@kingsgold Yes, while the quality of served food is getting worse and worse. Yet here i am, eating out way to often. :(
Totally agree, my dad is a chef and taught me how to cook all kinds of different food! The only times I order food is when i'm too sick to be in the kitchen lol! It's a nice creative outlet and stress reliever for me as well.
@@kingsgold Or it is that much better, you can cook pretty tasty food at home for 1/4 of the price.
Exactly, I am not a great cook but cook pretty decent tasty meals. There are so many products on the market, even if you want to do low effort cooking like me, you just need to find or buy food you enjoy or can eat over and over and don't mind it. It's really not hard to come up with a hand full of recipes. TH-cam has many easy to cook meals, you can get really creative without it taking too much time. If you enjoy cooking, the sky is the limit. I rarely eat out. when I look at food, I calculate how many meals I can get out of a product.
Dentist here. I’m just happy we’re giving shout outs to dental hygiene
Hi everyone, I'm a business owner. I've been looking for some guidance on how to invest my money wisely and plan for my retirement.
@caseymuller3480 I'm also a professional. I'm interested in learning more about *Robin Brezik* . What do she do exactly?
@caseymuller3480 That sounds impressive. How do you know she is Authentic and qualified?
@caseymuller3480 Thank you for sharing your experience with me. I think I will give check her out and see what she can do.
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
Gold and copper remains the best investment to venture in, especially as a beginner, it’s not always affected by the downturn of the market
Finding financial advisors like
Patricia strain 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.
Can also look upto her on web
Patriciastain
Telegramms
I am a comfortable and high-net-worth retiree. We are quite frugal, but whenever traveling or eating out or the situation presents itself, I am a very generous with a tip.
I can afford it, it feels good, and it is the right thing to do. Do it.
Also avoid buying things on sale that you were never going to buy in the first place. Great video George, keep up the amazing work.
Who just buys things because they are on sale?
This one is so crucial!! Been saying this since I was old enough to know what a sale does 😂 I can’t bear to watch people throw away money for the sake of “saving”
if I don't have prostitute problem then I would be very rich now, addicting to hiring escort has made me shun interaction with real women.
I have a family of four, cook and eat 95% at home, no clue how you would ONLY spend $600. Meat and fruit (real food) is not that cheap
I was thinking the same thing with a family of 4 eating mostly at home with meat, fruit, and veggies.
Even for 2 it’s hard without driving to 4-5 stores in crowded city
Winn-Dixie used to have buy one get 1 free meats, miss those days. Now still have some deals, but it's junk food or sodas, both waste of $
The Ramsey people like to pretend inflation doesnt exist and it just an excuse to be poor.
Family of 6 here, monthly food budget is $1,500. Unless you live on junk food, you can’t survive on $400 per month.
And paying CASH for your vacations. People at my work brag about going on 2,3 vacations per year but they also brag about charging all the trips . I take 0 vacations or do staycations because I know I can’t afford it. I’d rather save up for an emergency first. These are the same people that can’t afford the repair bill when a major appliance goes down.
The best line of the video, "I know its easier to uber eats your wontons, but if you want-tons of money, skip it" 😀 🤣😂
I was eating my money away😢 Fast food, coffee and entertainment 😢😢😢
Hi George! I've been enjoying all your videos and it's been great to see this channel rise to success.
My only constructive criticism is that sometimes the edits are distracting. I understand the entertainment aspect, but you are already engaging because of your personality.
Thanks again for all you do!
Less is more
Agreed, I think they are trying to appeal to a younger audience
Agree
Did he really say "clurb!?" IN DA CLURB!
Where are people finding $400/month groceries? We buy nothing extraordinary at the store and spend minimum $800/month (2 person household)
This is spot-on. My husband and I spend about $800 monthly on food.
You eat to much I guess.
That is definitely high. My wife and I are under $400 together
@@morbotheturtle3796 Same here the wife and I are also under $400mo
That's crazy high. Do you live in an expensive area or something? I feel like I would have to work hard at spending that much on groceries.
Thank you for the happy, serene, and humorous video! I truly am a millionaire, with a 7 figure net worth. Growing up, I studied the habits of millionaires in an effort to comprehend what influences their choice of financial strategies. I don't know who needs to hear this saving for a better investment is a great step to financial freedom you're saving a day off work
Yes it's been helpful to my general income, I make about an extra 3k from my investment portfolio
Wow that's awesome I'm really excited about this how do I get started
There's a lot of investing options real estate, stocks, crypto, ETFs but my best advice get a professional lead you into profitable one and make good financial decisions
Ok how do I get a professional to guide me through the process can you recommend one ?
I recommend Rachel Blanc, she's a good one I've been working with her for a good time
I would love to know how many people are in a house that buys a month of food for 600.00. We have a household of 5 and cook 90 percent of our meals. Our grocery budget is 1000.00
Stock and shop method
Habits- budgeting every month with my wife, not watching or subscribing to TV, and tithing
Nice work George. A bit of advice, steer clear of Will Smith. Bad look for anybody that associates with that loon.
Calm down. He made one mistake in a 50 year career of no mistakes. Take the log out of your eye
@@mrs.shanieekennedy2728 One mistake? Assuming you are talking about the slap. Research what he wrote about Larry Elder and revisit the Barbara Walters interview. The guy is INSANE!
My worst money habit is the occasional impulse buy. For example, I have wanted a pair of bell bottom pants for a while, and I saw an ad on FB today for a pair that look so lovely. I checked my clothing budget and found I had more than enough to get them. So although I didn’t need them, per se, and impulse bought them, I still exercised the good habit of checking my budget first.
My best money habit is probably carefully tracking my finances. Every week, and never less often than every two weeks, I record all my spending in my budget and verify that it’s all going according to plan. I also budget every month. I probably do more than I need to, but all in all, I’m happy with what I do. I’m in Baby Step 3B right now, and looking forward to having a nice fat downpayment in a couple of summers.
Sounds like you are doing awesome! (And actually, your bell bottoms weren't that impulsive: You've wanted them "for awhile", you "checked your budget" - nothing wrong with that if they fit in the budget!)
I love your TH-cam videos George! My worst habit is spending too much money on food! I am constantly working on improving that.
Plan for the week ahead breakfast, lunch and dinner plus snacks by cost. Your groceries and home products have to fit into the budget. Also never shop when hungry.
Shop around car insurance, phone service, and internet provider. I saved $148/month changing all 3.
Good reminder...thanks!
My parents gave me a fixed amount for pocket money/allowance when I was young. I can't ask for anything. If I want anything non-essential, I got to save up. That makes me save up for anything I want in cash, and never love food because back then, if I want a new toy, I'd starve myself so I can get it faster, for better or worse.
George, I think your numbers on groceries are no longer accurate. We used to be able to do a family of two on $350 a month a couple of years ago. Now with a family of 3 with inflation, it's been around $700 a month. We are very intentional and it is still hard to go less than this. Your survey was BEFORE the crazy inflation so I suggest you reassess this. Thanks for all you do!
That seems high to me-we have 5 kids, 4 are boys who play sports age 13 and younger. My husband and I lift weights and need high protein, we eat organic, no packaged or processed food and spend 1,400mo in Cali. This is separate from restaurant category. Every place and family is different of course, but I didn’t think his numbers were off. Check out freezer to family (not affiliated) if you want dinner tips. There’s a one time fee that has saved us a lot-in just the first month.
Debt is a thief..... That should have copyright protection!!!!!! This one is good too, "The borrower is a slave to the lender " Prov. 22:7
I watch the Graham stephan and Caleb hammer channel a lot too...I learned that Graham does not budget anymore....That he makes so much that it "doesnt make sense to" and all he does is "not spend"...That ks his budget...But I dont believe it...I am sure he tracks where his money is going...which is, you guessed it, part of budgeting...
@georgekamel, are the averages for groceries and eating out based on a per person average or a certain household size? Im curious.
I would say eating out is my worst habit but I’m a millionaire 😂
Less than 300 on eating out per month that’s like going out 1 time per week which then makes that grocery budget seem low even for a house of 2
We reduced our eating out from about $200-$250 to $50 for 2 adults. Once a month.
Also have a $1M plus net worth.
My best money habit is never indulging excuses (no matter how valid they may seem). If I didn’t get to where I want to go, that’s on me.
As Arnold said - you can have results or excuses. Not both.
I'm not Michael Jackson. I am not going to change a part of my anatomy to make anyone happy.
The gap in my teeth is not a deformity. It's just wide enough to fit your girl's clit.
Please don't cancel me 😂 your girl is into it.
The wonton pun killed me 😂
I have changed by mind about this guy. No longer view him as a cringe factory
Typical millionaire next door watching your video.Great video.
The eating out thing is very true. I'm a millionaire who owns a half a million dollar car outright, and last night the wife and I used a coupon to split a meal that cost us a whopping $8 at Ruby Tuesday. She got the garden bar, I got the burger and fries. And because I'm so cheap, we took it to go so I wouldn't have to pay a tip. Pretty much the way I've been living the last two decades. Vroom vroom though.
Very nice. If I ever go out for a burger, I never order with cheese. I bring my own
Interesting. I guess it's all about priorities...I only want a decent car that is (as close as possible to ) 100% reliable; uninterested in the maker's name or fancy technology. But if I go out to eat, it's an "experience" with a friend; I usually want to savor it with excellent conversation and not rush. I don't mind paying a tip. You are clearly the opposite!
@@cashflow68 Hilarious...you save, what...$1? Nothing wrong with it, just strikes me as a funny way to save a little money. Do you, like, carry it in your pocket? Do you decide what you will order before you leave home or carry it "just in case"? And what about other condiments, like tomato slices or lettuce? Do you do that with them as well?
@@dking1362 yep. I can't enjoy a meal if I feel like I'm eating $50, I don't care who it's with. Something's gotta give to justify the McLaren, lol.
@@XennialGuy LOL! (And I rarely spend $50 on a dinner out, either....maybe $25). Enjoy the car! It would probably fill you with disbelief to know I have to use Google Images to find out what a McLaren looks like!
Not all readers are leaders, but all leaders are readers. ❤
Millionaires definitely save money on food because most don't have kids in the house
Not true. Surveys and studies show that 90% of millionairs have kids in the house on avg 2
I usually love the creative edits, but there were too many or they were too long or something today for my personal taste....distracting from the message in some cases. The content itself about good habits was excellent. As an English teacher, I LOVE "Leaders are READERS!" I also really appreciated the inclusion of the Bible verse on generosity; not "hit people over the head" preaching, but briefly speaking truth as the basis for "why." Thanks!
8. Watching George Kamel on TH-cam every MWF at 9am Eastern.
Talk about a developed good habit....
I think the grocery one is a little outdated. I spend about 200$ a month just by myself.
Still sounds a bit high. Should probably be closer to $150
Same
I am a high earning 44 year old millionaire with 5 kids at home. We spend A LOT on food. Roughly $3k month! We have 4 sons (17,14,10, and 9), and they eat a lot. We also raise our own beef, sheep, chicken, goat, fruits, and veggies (while in season). I couldn’t imagine trying to survive with a family of 7 on my early career at a retail store. I have a lot of respect for the struggle. I was there. My 1st job was a cashier, making $0.75 above minimum wage here in CA- so $5/hr!
Do you have a mortgage? A car loan?
You have many kids so I am not surprised.
My husband and I have 2 kids and we are spending $1,200 a month (not including pediatric formula, which costs us between $200 to $250).
@@IrisP989 Hi Iris. I have a mortgage. That’s all. We have 6 cars, a tractor, ATVs, trailers, etc. and they’re all paid off. All of our investment properties are paid off too. My hesitation is that I want to buy my neighbors 3400 sq ft home on 5 acres, which according to Zillow is worth about $900k. I have enough to pay cash for that, but not to bug that and pay off our ranch at the same time. Also, I leave about $400-$500k in my C-Corp each year. I suppose I could take it out and pay my home off, but I didn’t want to pay all the taxes, so I’m just leaving it there. My interest rate is 3.99% and the payment is $3400 a month. That’s only 2% of my monthly income, so I’m not really worried about it.
Raising boys is a fun task!!!
How many years do you have left on that mortgage?
We have two mortgages (one house is a rental). One at 2.99% and the other at 3%. My husband doesn’t see the need to rush to pay them off if we can invest instead and the rental can be sold anytime (over $450K equity). The total of the loans is high but we managed to purchase these homes on a one 6 figure income in a high cost of living in CA and their market value nowadays in total is close to $2M.
Both of our kids are boys so it’s fun and can be challenging at times too haha.
@@IrisP989 our home is also in CA, east of Sacramento towards Lake Tahoe. We have 16 acres and a 4200 square feet, and I work mostly out of my Roseville, CA office. The out buildings at our home are barns, shops, etc. We bought it in 2019 but left it empty for 18 months until we moved in during COVID. We still have about 25 years left if I keep paying traditionally. I haven’t chose to pay it off because the upkeep has been a lot. We spent $120k on fences in 2021 to keep the animals in and the predictors at bay, and maybe spent as much on barns and landscaping. I still want to remove an older pole barn and build a 60x40 steel shop. My wife wants to remove part of the roof of our home and build out 2 more rooms and another deck. I have cash flowed all of our projects, so I haven’t been throwing extra on the mortgage yet.
I understand your husbands perspective. That’s actually very common. I talk about those sorts of decisions almost every day as a Financial Planner. There is absolutely a level of peace that comes from having a paid off home. That peace has value, and it’s difficult to quantify what that’s worth vs. the potential of investment gains. I believe that women often value the peace more and men value the investment gains more. Just this week I had a meeting where a client couple of mine is receiving a $671k check from the PGE Fire Victims trust due to their home burning down in a wild fire up near Chico (Paradise, CA). The husband wants to invest it all. The wife wants to pay off their $171k mortgage. As their advisor, I suggested a compromise, and I think it’s something they can both support. We decided to invest it, but let their new investment expedite the payoff of their home. If it gets an 8% per year gain, that would pay their home off in just about 3.5 years, and the wife’s budget would no longer have a mortgage payment as we would be paying their loan from their investment account. If it grows like the husband wants it to, it may still have $671k in 3.5 years, or could have even more. I thought this was a good middle ground, and they both felt good about it. Haha. Another marital conflict averted!!! Maybe a strategy like that would work well in your situation??
fantastic video and i am proud to say i follow all these habits i have zero credit card debt try to spend less as possible on food everyday
buy only what i need and when i do i pay cash that i saved up for nobody understands me nor my way of living and i am totally fine with that
I think there should be a caveat on the food segment, acknowledge inflation as a factor these days. Otherwise, great info
Love the Arrested Development clip... "RISKY! RISKY!"
love the speedy edits of the channel. keep it up RS crew
Good content, I think there are too many cuts to little funny skits. Would like to see more focus on the actual content. I might be getting old tho🤷🏾♂️🥲
Totally agree. Great content but tedious format. It will appeal to a lot of people though
“Finger lickin broke” 🐓 🤣
Great info !
🐪 🚂 😊
Dude, the grocery store one is so stacked in the millionaire favor. Millionaire are likely older with no kids at home. I’m on a monthly budget, shopping at Aldi’s, and still paying $800+ a month on food for a family of 5
Dude.....this is about habits to become a millionaire when you're older, not being a millionaire right now. I have six kids with a single income as a teacher and our grocery spending is more than yours, but still investing little by little, so when my wife and I are old, we will be millionaires (only if the economy continues to grow, it is still a risk).
I'm barely a millionaire and I shop at Aldi. About $160/month for a household of 1, so we're on the same level per person... though I'm guessing everyone in your household doesn't have the nutritional needs of a slightly active mid-30s male.
It's probably worth noting that those grocery numbers are almost certainly a bit stale, prior to recent inflation making everything significantly more expensive. And yeah, it's probably closer to a 2 person household on average.
@@adambarlow81 so irresponsible having that many kids on your income.
@@ordinaryhuman5645 you must not be that active because I’m an ex D1 athlete that spends 10 hours a week working out and I spend at minimum $120-$150/week on high quality groceries just for myself. I am also a millionaire
Made it to millionaire by 45 with 2 kids at home. Start early, get/stay out of debt and invest. Compounding interest add up in the investors favor :) We shop local and at Aldi and I agree, things are expensive! That's why it's so important to budget every single month. EveryDollar has been a blessing!
Dave Ramsey is not your friend.He is your boss.!!!!😂
Pleasantly surprised by this video. Better presentation and overall quality than many other on this topic.
In 20 years I went from fresh out of grad school and $80k of debt (i.e. negative net worth) to a total of $2+ million assets.
My habits: I commute 2+ hours a day in my 12 year-old Ford Focus, cook at home whenever I can.
Delayed gratification is my favorite game. My car is the only vehicle that I have ever bought new, and I did it with cash. I even recommend to my son to delay marriage until after 30, so he can be on a solid financial footing. The world is full of shiny things to get you off track.
The wife and I will soon take the keys to our sixth property, a small two-bedroom that is just under a quarter million $. No financing, as we paid for it in full.
I plan to work to 70 and hopefully have a nest egg of $10M or so. Then I hope to not need to delay any more.
I need to go shopping at Aldi’s for groceries… thanks for the help 😊
My parents spend probably 3k a month on eating out 😂
This is so good the video edits are the best 😂
I remember a rich neighbor that used to give money to the community so the community helped her and supported her. It is a win-win to be generous with the community but you have to do it right.
This is good basic advice, if you are above a certain threshold of income.
However, a key thing to remember when doing your budget is having a bit of extra income to live.
The hardest step is earning more than $34K a year.
Most financial gurus skip this step entirely, and they don't give any advice on how to do it.
If rent is more than 50% of your income, you need more income. That means more hours of work, which means less hours to read. However, observing the surroundings at your job can all teach skills. The problem with knowledge is: you don't know, what you don't know.
I mean you can only work 12 to 16 hours a day for so long before something Catastrophic happens.
Constant overtime is stressful and fatal to human health
Luv the clips you cut to in your video..ther hilarious.... great finical tips too
I assume by 'Millionaire' you mean a person who owns assets worth $US1Million.
George Kameltoe is right
I do budget every day, not just every month 😂. I don't buy anything if I cannot afford it right now.
Ps. No, I don't like eating out, I like better what I can cook.
Hey George! You're all set up to be a great father :-) I can tell by your "Won Ton" dad joke :-) Thanks for the informative and fun video!
I love this channel. George is a funny dude who happens to know stuff about finance
Just wanted to add for habit #7 that another benefit of generosity is that donations also mean tax deductions.
Ahh yes. Let’s donate 100 dollars to save $24.00
Big brain energy
@@Mac-pluto You're missing the point though. If the video says be generous: if you're going to be generous anyway, might as well get some extra benefit from it.
So to use your example, if I was going to give my $100 anyway, I'm still getting $24 back. Big brain energy SMH
@@Z52-g1i I won't lie, I have been known to give more money away at the end of the year to avoid sending it to the government. Yes, I would rather give $100 to save sending them $24! Also, we're sometimes closer to the next bracket and you better bet I'll give it away rather than sending it to them. We plan our giving each year but at the end if it's close, we're writing checks :)
My wife and I are doing well and comfortable, not millions yet but net worth of about 550k at 33/32 years old with 3 kids. With that said, I’d like to see what the average household size is for those $400 month grocery budget and does the grocery budget include hygiene needs such as tooth brush, shampoo, soap, etc. If it is just food, we aren’t too far off but family of 5 isn’t easy to skim by at $400 month, that’s approximately $95 a week .. in perspective, that’s about $19 per person per month, lol. My wife makes homemade meals like soups and spaghetti that are large batches and allows us leftovers but yeah … I’m questioning this $400 a month on food unless it’s breakfast lunch and dinner of Roman noodles.
If I get nothing else from this video, except stay away from the corn cob challenge:
I am winning.
I believe the food budget thing is very subjective. If you can show me a family with three kids only spending $103 a week on food healthfully, then tell me where to sign up! Great information otherwise!🤙🏿
Food delivery apps are the HARDEST challenge for me. I do max out all my retirement accounts right now, but don't own a home. :(
Fully agree with not paying for comfort and avoiding debt like the plague. My son Zephyr will get a kick out of his name getting mentioned. 😂
I wish I could move out from my mother's basement but I don't make enough money!
I can tell ya I have the money to pay for everyday stuff. I do use credit cards to pay for my everyday stuff. I don't have debt cause I pay off my credit card everytime cause I use them with paying for It living on less then what I make. And I make 5 percent back on all my purchases instead of making nothing on my everyday commen purchases.
I call bs on the groceries. I use coupons, buy in bulk, and visit several different stores chasing the sale. There is no way a family of 4 can only spend $600 a month. Unless you are eating like crap, and in that case you are trading health for wealth. Just some basic math, fruit is about $2 a pound (averaging different types). You are supposed to have 4 fruits a day, but let’s say you only do one. For a family of 4, that is about $3 a day which comes to $90 a month; $360, if you do the 4 fruits for the 4 people every day.
Wrong
I love that your subscribers are increasing steadily. Reach these young folks.❤
Edison bought the patent of the light bulb from the widow of a competitor, he just made the light bulb 💡 a reality.
GREAT video. Loved the intro especially… George is always subtly hilarious
First time watching and suscribed! Loved your style.
need some good book ideas
What if what feels good is saving money and not having credit cards or debt? I'm I considered a kid 😮
This $412 a month on groceries is it just for 2 because I can’t see this with a family of 4.
George, how do I get through medical school without loans? I am listening, intently.
Finger lickin’ broke 🤣
😂😂😂😂
Excellent video two minutes in liked subbed and shared
I got all of them right but the last one 😢
It's Pun haven over here 😂😂 love it!
I really like George but these Edits are becoming too much...
“don’t pay for convenience” is terrible advice
I would rather pay someone to cook all my meals and clean my home so that I can focus on other things like producing results for my job that pays 400K/year or figuring out the best ways to invest 70% of my take home.
He caveats his statement with those that are low to middle class. Making 40k year does not leave room for a convenience fee.
Good stuff btw
$10 thousand would be enough to make me feel comfortable l.
I would say this study includes millionaires who built their wealth over a completely different economic time than what we are dealing with today. It'll be interesting to see a study like this in 40 years on how people from today and onward built their wealth over the NEXT 40 years. It'll probably be a little bit different due to economic environments, etc.
Nah I think it’ll be very much the same
@@TartarianTopG okay so the people who built their wealth with e-commerce & social media, etc doesn’t play a part for you at all?? 40 years ago most people worked 9-5’s so the process for building wealth was different. The next 40 years we have internet, e commerce, crypto, trading, wayyy more options for making money. It will absolutely be different.
Not to be a buzzkill but you hear about millionaires going broke all the time
Good content, George. Something to work on: If someone disagrees with you , the response you
comeback with is either flippant or snarky.You've said in the past that people who disagree with you are haters.
You may want to rethink that position.
but didn't Nikola Tesla invent the light bulb?
Can we just appreciate the creative genius that this video is?
Whoever wrote the script did amazing!
I live in Marin county and it shows both types of Millionaires, listen to this guy. My happiest millionaire clients drive the modest cars and budget wisely debt free.
Thank you for your generosity!
I definitely guessed it was Cory 😂
Very happy to see the Speed reference 😂
OK, the corn cob guy got me!! 😂
Budgeting !!
I prefer an older car vs. a new car. The newer cars are getting too techy.
The main thing I find that older model vehicles have over the newer models is history. Let’s use the previous generation Toyota Tundra as an example. It was relatively unchanged since it was released in 2007. Common trouble spots were well known, and parts availability was fairly good to boot. You could buy a 2021 Tundra brand new, and it had 14 years of history behind it to back it up. Compare that to the 2022 Tundra. Sure, Toyota has history behind it based on their reputation…but at the end of the day, it’s still an entirely brand new design. There aren’t years of identical trucks on the road with well documented issues, everything is now new, and everyone is learning as they go. Sure, they might be very good….but no one really knows for sure how reliable and problematic (ie costly) they will truly be until they are at least a few years old, and there are numerous examples with 100k+ miles to look back on.
Geo, you are being way logical...