there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
I am 39, I only eat takeaway once a week, no coffee outside, no subscriptions, I currently save 60% of what I make and I do not make a lot, but if you spend less than you earn you have a bright future.
It's not how much you make it's how much you save. But that's only part of saying the next part is "and what you do with what you save." So, what are you doing with your 60% savings?
@@HelloWorld-hb7yt Honestly, it depends on what makes you happy. Not everyone derives happiness from the soul-less action of materialistic spending. If someone gets more enjoyment out of life with saving then spending, and knowing they have a secure future, then good for them.
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 3 years now, amassing nearly $745K in return on investments.
@@williamDonaldson432 this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Couldn't watch the full video but is only applicable if you put the money into something lucrative... Two years ago, I was in a similar dilemma and ultimately decided against buying a home since I was comfortable in my rented apartment... That turned out to be a great choice because now, I make close to 15 grand a month from investments I made with it then and I almost have enough to fully pay for house if I wanted to...
Mostly stocks but don't go in blindly, do a proper research on how to go about this process safely and the right ones... Alternatively, consider working with an expert, like I eventually did, to help avoid costly mistakes, especially in the early stages... Good luck...
Been considering going into this for sometime now. Heard its a nice way to make some extra funds,, Now do you get a competent expert and how expensive are they,,
@@Kortneylove-1 You should begin by seeking out individuals with strong records... Also make sure the person is registered... Personally, I use Marie, Kelly Matwick. She's not so popular but you might have heard of her. And they're usually way cheaper than you would expect in the US...
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
I am 28 and I do live at home (parents) but I work a good job (HVAC Technician) and have been investing for 6 years with only 500$ rent. I have no debt and do recommend living at home as long as you are being productive and not spending on anything unnecessary.👍
@@SirGriefALot I live on my own and still don't have one lol. It's rough dating in the modern USA either way. So many crazy women and it can be hard to tell the difference between them and a normal girl quickly enough to save yourself.
Speaking on cars, I bought my ideal truck when I was 25. Paying it off wasn’t Terrible but still sucked… ten years later I still have it but I drive my fiancé beat up Corolla everyday and I love it. You can’t beat a $30 full tank that lasts 2 weeks
That “and then what?” question and portion has my mind spinning. It’s so easy to get fixated on the goal we forget the larger context of what we were doing in the first place that required us to set the goal
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Exactly , a lot of people neglect the need for a FA , i've been in the Housing market for years , i didnt see need to diversify, but since i got portfolio manager , i make $100k every quarter for the pass 5 years by diversifying in different financial market
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from Vivian Jean Wilhelm to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I'm an amateur with a portfolio of 180k and I've got some real estate holdings too, but it's hard for me to build confidence. I want to invest another 70k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Are these good stock suggestions?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
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.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
LMAO this George guy saying @1:14:15 - "Why would I pay my babysitter $25 an hour? Ridiculous! All they're doing is monitoring my baby and keeping my baby safe - how is my child's safety and wellbeing worth $25/hour? They should be happy I pay them $17/hour! What, they expect to get paid for their job like everybody else? Their job is fake! I'm an important "Online Radio Host"! My job matters. Being a radio host might even be more important than doctors. Yep babysitters are fake and their job is fake and worth less than my office job. If I pay babysitters a $15/h wage, surely they can afford to rent a wet dark basement + eat rice and beans every day + have $10 left over after their living expenses at the end of the month so they can put $10 in the stock market and buy a house with cash in 400 years! Come to my show for more coherent advice." What an idiotic and evil way to treat normal working people. Thanks for having him on the show, you guys looked like nuclear scientists in some of those discussions, although you didn't rebute some of his takes enough
this was me until july of this year 28 making good money but just did not move out even though i could because of the comfort and low rent. it is funny im paying off my debt faster now that im out of the house and dont have that safty net and paying 5x the rent instead of just blowing it away on pointless stuff. so glad i moved out there was a level of meturity i got by moving out to my own(rented so not really mine) place having to set up all the accounts bills . . . i am able to take pride in my place and it has become an apartment home for me and i dont want to move back anymore lol
I have sold my home and planning to go back to India after staying here in US for 24 yrs to take care of my parents. Iam looking for help with investing my home sale proceeds for monthly income.
I don’t see a problem fully invested into stocks as long as you know what the heck you're doing, ideally it's best you consider advisory services to avoid terrible mistakes
Agreed, utilizing a financial specialist did the trick for me in barely 5 years. I worked hard everyday as a teacher for 32 years and my salary was over 100k/yr, enough to get me fully invested. I'm semi-retired today with about $1m, and only work 7.5 hours weekly.
I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .
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.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *Julianne Iwersen-Niemann* for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for saving me hours of back and forth investigation into the markets... I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
I charge my kids $500/mo to live in our house then I put that money in a Roth 401k with a target date ETF for their retirement at 59. Right now, if they put nothing else into their Roth they'll have almost $2 million when they turn 59.
I'm also in agreement with you all. His normal target audience must have a very short attention span that requires constant plugged in "entertainment." I had enough and unsubscribed.
One thing I never see the Ramsey people talk about is the opportunity cost of paying cash for real estate investments. More people have gotten wealthy off debt on properties, than by any other method. Paying off your primary, then trying to save up the entire price of a home when they are increasing 3-5% a year could take half your working life just to get one.
@TPG1977 no he doesn't. He only talks about the increased risk of leveraged assets, never about the benefits, or the opportunity costs of not using leverage. Then compares 30 year fixed rate notes to the insane stuff he was doing when he went bust.
@@tstanley01 he literally talks all the time about having tens of millions in leveraged debt on homes he had as a realtor and the banks calling those loans due and his family having to declare bankruptcy.
@@TPG1977 Yeah, leveraging with 90 day notes. That's very different than conventional 30 year mortgages or even 20-30 year amortized loans with a 5 or 10 year balloon payment. 90 day notes are exponentially riskier than a conventional 30 year fixed rate mortgage. They don't belong in the same conversation.
On the topic of new cars being less reliable it's pretty clear since around 2003 - 2007 cars are being designed to break after the warranty runs out, Doesn't matter what brand it is they're all guilty.
Buying a house freezes your monthly housing expenses for 20-30 years. If you rent, the rent increases over time. If you're not going to move every few years, its still best to own. Your rent includes double the property tax plus profit to the owner. Primary residence cuts your property taxes.
Now imagine you get a better job and can suddenly start making extra payments to pay off in 15 instead of 30 while still keeping a 30 year payment. It’s very hard to say what a good payment is, but you are right. Short term rental to save isn’t bad at all since mortgages and home fixes are expensive. But long term rental planning … idk. I hate to say it’s like burning money but it kind of feels like it.
No, your monthly housing expenses for owning are certainly not frozen at all - especially when the economy functions on inflation. Property taxes, maintenance costs, insurance, HOA, and utilities are guaranteed to go up. Let’s not forget that buyers with mortgages end up paying almost twice as much as the cost of the house over the lifetime of the loan.
Now that the fed have been decreasing the rates, all these "money experts" are out in droves trying to tell people not to buy houses. They don't want their stock prices to drop people pull from their investments to buy houses. Selfish as they are, giving bad advice for gains.
I’m not even five minutes into the conversation and I have something to tell people who want to buy a house! I am 37 years old I am lucky enough to own my own home in the south of France… It is a very nice home with an amazing backyard and I live on a 1 acre property… Considering the house that I have it actually wasn’t even that much money… But, it still was quite some money and A LOT of work!!!! Every day I go outside and look at my yard I am grateful for the amazing house I have… But, I had no idea how stressful it would be to build and own your dream home… I’m seriously questioning whether it was worth it or not.
Viewing a house as an investment is exactly why the housing market is so screwed up today. A house should be viewed the same way as a daily driver work truck. It's just some walls and a roof where you keep your stuff, cook your meals, raise your family, do your hobbies, projects, and work, and it's a swell place to lay your head at night.
Exactly. Nobody’s fault if the economy takes a dive and people being left with a giant mountain of debt on a house. Now’s the worse time to be buying property 😂
I like buying 10 year old toyotas they are cheap to register and insure. Reliability is unbelievable, and it's already gone through most to all its depreciation. In fact, once they reach peak depreciation, they tend to appreciate 😅 I don't know how it works, but it does ! Bought a 2005 Toyota corola with 150,000 miles for 2k and sold it for 3k after I put another 50k in miles lol
I've got a 2007 honda accord, still looks and runs great. It had low miles for its age when I bought it. Never buy a new car, unless you're happy to flush money down the toilet.
This is the summary of the rent vs buy decision I’ve been trying to figure out for years. The rental income vs mortgage payment calculation never made sense to me. But this is much more logical and makes far more sense. Thank you for simplifying this!
Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
I tried looking into new strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.
I've stuck with the popularly ‘’Jessica Lee Horst” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Jessica after inputting her full name on the web, she seems highly professional with over a decades of experience.
I think people can’t recognize the fact that Graham/The Money Guy team are more EFFICIENCY based and Ramsey is more emotion/motivation based, in the end its just about making sure people are sound financially for the future. Do what works best for you, I don’t get why it has to be a battle royal of ideology😂 Not to mention that 95% of the ideologies are the same to begin with
Government accounting is completely different from business accounting, because of the nature of govt income. Tax cuts are not intrinsically good, just like govt spending is not intrinsically good. Social Security is not a Ponzi scheme - it is an anti-poverty program that was in response to the severe poverty experienced by the elderly during the Great Depression. In the regard, it was an extreme success. However, you are absolutely right about it not being intended to pay out for 10+ years. It would be better is there were forced defined benefit pension plans for workers, and a separate anti-poverty program. The most important things Govt can do are maintain a certain amount of order (anti-crime), provide physical infrastructure (roads, waste management, utilities), and public education. Anything else is gravy - some people like gravy & some people don’t. Tariffs are like sales tax - it disproportionately affects the poor. If a mango costs $15, it becomes available only to the wealthy. To resolve those problems, you have to make exceptions & complicate the tax code. If a flat income tax with zero exceptions were implemented, that might be fair.
So just doing quick math here, if you want to buy a house for $300000 with a 15 year fixed rate and a mortgage payment no more than 1/4 of your income… you need to make $46/hr. Yikes
To put that into salary terms, it's around 100,000 per year. That's only the top 10-15% of earners in the country. Now let's also include the fact that 300k is pretty much the lowest it goes these days outside of a trailer house. So the top earners in the country can afford the cheapest houses in the country.
@jenn-y5n you can get a lot of house for the money if you buy in a poor/ghetto area. I bought my house 4 bed 2 bath for 50k because of the area. It took some convincing my wife but she is happy in the area as low mortgage, a rated school in the district that our kids go to and we doubled our income since we bought the house 5 years ago and have tons of equity in the house. Make the right choices instead of thinking about status because that's what most people do and put themselves into debt
If you are married then that salary can be halved between the couple. That being said, I’m a big Ramsey fan but when we refinanced in 2021 we still ended up choosing the 30 year over the 15 year. The 15 year term payment amount was too risky for us to take on. God forbid one of us loses our job and even with an emergency fund it would be a very stressful situation.
I am getting rid of the CC. $20,000 spent is not worth the $200 toward travel. You are welcome to continue to play the game, but I am leaving the table.
I've always been calling Crypto, NFT, and things similar to them multi-level marketing for a long time. They are all worthless things, and the only way to make money is to constantly bring people into the "game" to profit off of them, get them kicked out from bankruptcy, and repeat the process with new idiots. The people at the top control the supply of crypt, ready to do a massive sell off at any time. Profit. Wait till it hits a "floor", then repeat the process. If there's one thing the world doesn't have less of, its gamblers trying to shoot for the moon.
That comparison would make sense except that major world governments own bitcoin, not stock of Mary Kay. Bitcoin is a store for value, but it’s also a realm riddled with scammers. Don’t follow people. Follow principles. FYI I own very little crypto. I just pay attention to the world.
3 years ago, I started investing with $300k, but I've only made about 6% total, or 2% per year, which my friends say is very low. I also put $800k into a 401k with a financial advisor, and it's now worth about $1.2 million after 10 years. I think I need to revamp my portfolio. Any advice on what to do with my money would be greatly appreciated.
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if the advisor is providing any other value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
You should definitely fire your advisor! That's a bad financial advisor. Over 50 years of data reveal that those who work with fiduciary advisors typically earn more than those who go it alone. I've been fortunate to work with one for 6 years, resulting in a $3 million portfolio.
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Best moment was Graham conceding that tap to pay was less painful. There has to be a notion of psychology and personal habit in finances to help an individual get the best chance of reaching their goal. This is a prime example of what it means to disagree and still debate but not throw mud at each other. Thanks for the vid
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
I became a millionaire on a costco 50,000 pre tax salary by investing in stocks and flipping real estate. Bought my first house at 22 10 years ago, just sold my 2nd flip and about to buy a house in cash. My dividends are enough to live on now so im actually a millionaire and only 32 with zero debts.
I am setting my son up for exactly this. I set him up with his Roth IRA and hope to help him buy his first house soon. He’s 19. Any recommendations for him?
Dude seriously, my rent has gine up 50% in 4 years. I make 60k post tax and have 2 kids and have no debt but an barely making it. It's fucked @alexlopez5800
“America is broke” - people are purchasing condos/ townhomes built in the 80’s in my neighborhood for a higher price than $900K today with high interest rates or cash (no backyards even. Just patios by the front door)..
I am regretting not investing in digital assets ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the market. What coin should I look into as a newbie to safely grow my money?
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
I have a singular 2 unit. My tenants knew the landlord was the neighbor. I felt like i just didnt have to worry about my tenants messing anything up because I was the neighbor. I also didn't have to worry about neighbor complaints. Havent had a tenant in 4 years (my mom now lives in the other unit) and i have learned i just do not want to be a landlord/property manager. Still 100% am so happy i bought my house.
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve early retirement.
@@beautifulpeopleonearth I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
excellent share, curiously inputted Annette Louise Connors on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in the market. Just choose top-notch ETFs and partner with a CFA like I did. I turned my $90k inveestment to one that yields $50,000 in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I approach that chapter. I need to ensure I have enough savings to survive on. My retirement account isn't doing great. Now, I need that professional rescue. Please direct me on how to reach a sound adviser
KATHLEEN CHERYL CONSTANTZ is who I work with. Have worked with her for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
It appears Kathleen knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's tradin strategies but it didn't pan out well. Hopeful that Kathleen will attend to my message.
There's a condo in my building I wanted to buy as a single person. I did the math buying vs renting, and the break-even point never came. I'll be living abroad in retirement, so no need to buy a home here.
The corporations who own Grocery stores, and the corporations who own the fast food restaurants, are all making millions upon millions of dollars of profit. They can all afford to pay their workers more and not get hurt by it. Small businesses are a different story. But large corporations can absolutely afford to pay their workers living wages.
I sold cars for over thirty five years.Guys, and my takeaway is this . For most people, the two most expensive items that you will ever purchase are real estate.And an automobile. The trick when buying vehicles is to buy a used vehicle. Always let someone else. Take the depreciation, drive it for a few years or whatever time frame you desire and then sell it and get a different used vehicle. By taking pen to paper you will find out that that used vehicle cost you probably $400 a month at most ( or $5000 a year ) depreciated. Then you have a paid off vehicle STILL HAVING VALUE when you sell it. Another way to look at it is If you figure $400 a month in payments Can you go out and rent any vehicle?For thirteen dollars a day? Or 400 a month.answer is NO YOU CANNOT. Hope I open your eyes a little bit.
This is true, I hit the jackpot with my current car. Got a 10 year old Jap import where the previous owner was elderly and only drove it a couple of times a week. Had it for 15 years now with few problems, even if the engine blows up tomorrow and I have to get another car I've had a damn good run
I still live in a townhouse I paid $75k for back in '09 😅 I own millions in commercial real estate now. Most people would never guess. Especially my neighbors lol.
@@marcelrodriguez2067 Or you live in a shoebox, I get it, as I said it depends where you live. I used to live in the Bay Area and I moved to Texas because I could not afford a house in CA.
The dirty little secret about owning a home that none of these people will ever talk about. You never truly own your home because you pay taxes on it in perpetuity. Property taxes are basically a permanent lien on the home.
buddy im European i live at home and im from canada. Moving out at like 20 is such an American cultural thing. Its just me and my dad living together, im not going to abondon him and leave him alone. My mother passed away so we keep eachother company and i save money. still love my life who cares.
All I know is, I'm someone who goes against their trend. I moved out and bought my own place in my 20s, but I'm definitely not any happier. I don't feel any more responsible or grown up or whatever. I was a lot less stressed and anxious living with my parents and I'd never tell anyone they have to move out, it's not all it's cracked up to be
He's right though. I moved out a couple months after graduating high school and was able to buy my own place at 20 but the amount of people I know that are only a few years away from turning 30 that still live with their parents and their parents still pay most of their bills is absolutely ridiculous
Look up the stats most food prices have increased %50 the highest increase ever in less than 2 years gas prices up the U.S. government is printing more and more money with nothing to back it up.which in fact also caused inflation.wages are not keeping up with inflation for most people who make under $43 K a yrar with a family this is a problem.Not everyone makes 6 figures a year in the U.S.your talking about buying a home most people cant afford to rent an apartment firget buying a home really?
Im staying at home paying for half their mortgage as rent and utilities while saving 60% of my income. No debt, and I own all three of my vehicles. If anything, my parents would struggle living there if I wasn't there? Ooooo such a bad thing to live with your parents for any reason? 😅 These podcasts have just become "Do this 1 thing that worked for me and your set for life" just to blanket the maybe 30% of people that applies to. TH-cam autoplay really is reaching to go from painting videos I was watching, right into a finance/housing video based on my recent cookies. I recently google'd Houses for sale in my area... that's not sus at all that youtube is now feeding me these videos out of nowhere.
Yup. I think its fine to live at home, if you are actually paying for some of the bills, no matter how old you are. I actually quite disagree with the US-Western sentiment of "kicking a bird out of its nest", or go independent. I think its fine if the child is just free loading and they are already in their late 20's, but not if they are paying and earning their keep. Besides, its been proven that it takes a village to raise a child, and that children raised with whole families are always better than being raised alone (not to mention most parent's can't actually handle it). To be honest, I think that they are all doing so well for themselves, they are disconnected from the average American. Personal finances are personal, and there is no such thing as a one size fits all.
Most people don’t just buy a $5 coffee though. They buy the coffee and a snack, and then buy lunch out, then get takeout for dinner because they’re tired, then pay for 5 different subscription tv services, then go out on the weekend and spend who knows how much. On top of the occasional shopping for clothes, items for the home like decor, or even a vacation, that all adds up to waaaay more than $150 a month. So yeah, those things are kinda keeping you from buying a house but you enjoy your psl.
House purchase depends on your situation. Do you move every two years? Then don’t purchase a house, yet. Owning a house is a hedge against inflation. No mortgage and no rent is like a rise to income.
Depends. Buying a house, moving and buying a new one can be a fantastic strategy. You don't have to sell when you move, you can rent it out. Even at a break even or slight loss each month, the tax benefits and the fact that you are having someone else paying for one of your assets is pretty dope. Everyone focuses on cash flow in the real estate sphere, but if you pick up a few houses in your 20s and 30s it can really set u up. I love the tax breaks I get.
@@jayraitt9023 definitely a great way to grow wealth as long as you can cover the expenses of vacancies, unexpected repairs, etc there’s some risk associated with this strategy.
Your circumstances can keep changing as well, marriage, kids, kids leave to college, job change and the list goes on. The perfect solution for today probably won’t be the solution for tomorrow.
Omg I totally get where Graham is coming from…nothing makes me happier than accomplishing a task/goal/project! I get so happy to make my lists and check them off. Yay to productivity nerds 🤣
Investing in mutual funds offers a structured and diversified approach to building wealth, managed by professional fund managers. While there are costs and some limitations, the benefits of diversification, professional management, and ease of access make mutual funds a popular choice for achieving a variety of financial goals.
Exactly, I used to doubt the value of a financial advisor until my wife's company assigned her an investment adviser in 2020. Honestly, it’s been the best financial decision I’ve made. It helped tremendously; I went from barely making any profit to having a well-diversified portfolio that has grown significantly, with gains exceeding $850k.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
I hate the idea that people just need to move. I was born and raised in New York. So many people I grew up with have been priced out and it's ridiculous. We all are college educated and have good jobs and STILL can't afford it. Also, I'm not Graham and I've been playing the points game for years. Credit score above 800 and never had a late payment on any of my many credit cards. Plenty of people have financial discipline. Homeboy saying redemption of points is like Chuck-e-cheese is crazy. (And he comes off very demeaning. Something about his attitude I just don't like.) I have not paid for a flight in about a decade. Think of how much money I have saved over 10 years on vacations. And I travel a few times a year. It's the smartest thing someone with financial discipline can do. Finding ways to save money is always the goal.
It's a slippery slope. It's much easier to put 3000 in, spend, see 200 and say fuck. It's much harder to swipe swipe swipe and then your bill is bigger than expected and you have no fucking clue what happened
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Pelham04 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
I opened an online high-yield savings account with 5.12863% interest compounded daily, expecting to get $2,500 in interest on my initial $50,000 at the end of the month. Instead, I only received $420. When I inquired, I was told the interest is calculated daily, which was not clearly stated on the website. My partner advised me to divert into stocks through an advisor, and in just six months, I achieved over 80% capital growth, excluding dividends. Highly recommended!
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and i am interested in investing in stocks.
Celia Kathleen Martel is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She’s really good
Do not buy a home? I pay less for a mortgage than I would pay rent. I can't be kicked out by a landlord if he wants to sell the house, he can't raise my rates every year. I can do what I want to the house and I have complete privacy without the landlord visiting. Renting is mugs. And landlords are predators. Own your house.
Yea, I owned a home before Covid, my mortgage and taxes were $1700 a month. I sold just before Covid hit and am now stuck paying $2600 a month in rent and have had to move abruptly twice when the owners of the places I've rented decided to sell. Houses in the area are still overpriced by at least $100k, so we're between a rock and a hard place for the next 2 years until our son graduates high school. Would have been infinitely better off having bought a house vs. renting, but hindsight is always 20/20. My advice? Don't take advice from 20 something year old influencers on TH-cam, especially ones that start by blaming millennials for all our problems. These guys are probably all invested in commercial real estate schemes that buy up residential properties.
As of right now I pay 1800 a month to rent a 1300sqft condo in the Midwest. A mortgage on it would be 2200 on the low end based on property value. Thats not even including property taxes, maintenance and HOA
There are a lot of fees related to owning a home. Not just mortgage interest. Welcome Tax, transfer tax, property tax, school tax, insurance, utilities, repair and maintenance, condo fees (if condo)... Comparing rent vs mortgage is inaccurate.
I think multi-generational living is going to be to be doing a comeback despite what this guy says about “living at home”. Nuclear families are kind of a new thing and very American.
I bought my 2014 Honda civic in 2017 with 15k miles on it for 16,200 have put about 100k miles on it now and other the maintaining the car I have had zero issues, and I’m in the northeast. Buy smart and you will never have issues
I’m in my mid thirties, had terrible roommates (last one was so manipulative it caused me to have a breakdown) and I live at home. I’m salaried. I pay a good chunk to my parents, and I can pay off debt. Rent has skyrocketed in my area and country, I did the math yesterday and I would need another $800 a month to just break even to rent. I’m going to be here until I have enough for a down payment and I can pay down debt in that time. In today’s reality, this is common.
Why don’t they talk about the economy? Like how are you going to throw these huge numbers around or talk about investment properties and not take into consideration the economy? Insane advice!
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I hate doing sales. I just closed my business because I can’t do everything and make the sales. It never worked mathematically because anything product I had that I could sell repeatedly, that wasn’t one of a kind, did not sell well.
For sure , most properties tax is also tied to real estate trends as well, so it is definetly a a tax on unrealized gains and should be unconstitutional. Crazy that they can tax you on the value of your home.
No. It's an annual tax on the value of the asset. It's not a tax on the gain in value between purchase and the time of assessment. It's difficult to point out an equivalent because property taxes are so different, but car tabs come close.
@@jsteel_ True, your explanation is better. I was tunnel visioned on how unrealized gains taxes and property taxes make you pay taxes for something that did not give you any money.
Most young adults "DO NOT" Know how to manage their money. They work hard to make it then turn right around and blow it all on stupid stuff. Mostly entertainment crap.
The habit of buying shit is like filling a cup with water: it fills the available volumetric space. That's the problem, it's a slippery slope into overconsumption if behavior is ignored; and it's never been easier to impulse buy
You gotta run the numbers... Right now when the interest rate is high and the housing price sky rocketed since the pandemic it is a horrible time to buy a house. But if you had locked in the lowest interest rates in history before the price rocket then it's good. It's dependent on the numbers and research
Love all the advice but I personally disagree with the charging kids to live with you. We have four children ages 38 to 21. Our three oldest have moved out and were able to buy their own house right out of the gate. Our youngest is still at home , goes to college and will graduate in the spring with two majors and two minors she also works 3 separate part time jobs to pay for her college and has a decent savings. With that said she makes her own car payment but we pay for her phone and insurance. I realize not all kids are that ambitious but I think our kids were better off able to save so they had a solid ground under them when they did move out.
"It's not becase of inflation...not because of the economy. It's because they're not living on less than they make." Well WHY aren't they living on less than they make? Could it be somewhat due to the inflation and the economy?
Poor spending habits lol people need to take responsibility of the things they have control over, instead of putting the blame on things they can't control and say it's not their fault. At the bare minimum you can say poor spending habits is a major contributing factor.
Current economic conditions do make things harder. Conditions will make things easier or harder. You can't control it either way. Spending as much or more than you make it doable in the best and worst economy and a crappy decision in any.
@@miguelocampo9595 I don't disagree that progress can be made by tighter spending. I'm not even disagreeing that placing the blame on outside factors won't get you anywhere; however, it's important that when you are diagnosisng a disease, you have to figure out what are the symptoms vs what's the actual root cause of the disease. Every financial metric will tell you (1) the power of a dollar doesn't go as far today as it used to and (2) people on average aren't getting more dollars in salary to keep up with the increase price of everything around them.
Making accurate predictions for the housing market is quite a task due to the uncertainty surrounding the Federal Reserve's ability to effectively reduce inflation and borrowing costs. This delicate balance must be maintained to prevent a substantial decrease in demand from buyers, affecting everything from houses to automobiles.
I suggest getting expert advice. The most efficient way to build a solid portfolio is to work with someone who fully grasps the market's unpredictable but rewarding dynamics.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Love this. Always a entertaining, encouraging, and educational group. Would love to hear more on the studies showing higher spending on a credit vs. debit card. I find that extremely interesting and a pursuasive argument. Thanks as always!!
There can be no doubt that this year is worse than the last. I lost a lot of money last year as a result of making bad investing decisions that I would not have made if I hadn't been so worried about my portfolio. I continued to invest, but I wasn't sure if I should start saving for a house. I ultimately had to sell everything I owned since the house required more upkeep than I had anticipated. I'm not sure how long I can continue in this manner.
It is true. With the assistance of a financial planner, I was able to diversify my portfolio across many markets, resulting in a net profit of more than $1 million from high dividend yield bonds, ETFs, and equities. It is critical that you have an array of exposures, particularly with established lucrative firms.
Alright, so where can someone locate a reliable financial planner? It won't be a problem for me to find the professional who helped you. I'll be retiring in two years, and I might require assistance with handling my far more valuable assets. I'm not willing to take any risk
I totally agree. At least 20% down and make sure you can afford the mortgage if it sits empty. Also have a sizable emergency fund in case problem arise which they will.
Doesn't make any sense to me either, if you have that sort of capital might as well just put it into index funds where there is (arguably) less risk over the long term, don't have to worry about problem tenants, property taxes etc.
@@00mazoneHow the fk are you going to do 20% down on a house lmao? Like actually, given the overbidding, closing costs and costs for renovations, how are you going to have 20%? The cheapest homes near me are about €350k. That means atleast €70k down, which is almost 2 years of average net income. But average overbidding is 10%, which you have to do in all cash, so that adds €35k. Then you also need to do renovations in that house, so let's say you do everything yourself and just pay for the materials, €10k. Then you also have some closing costs at about €10k. Total cash needed for 20% down: €125.000.
I got a 2014 Kia Sedona for my fam with 50k miles for $15k. But even though I bought it cash, vehicle repairs are sooo expensive. I spend $1000-$2000 almost every time I go to shop. I have to budget $400/month for auto repairs. And I maintain them meticulously.
I’m down 10 pounds this year! It’s 5-6x per week gym (half cardio, half weights) + no alcohol, minimal sugar, and “the caveman diet” aka one ingredient foods. Biggest thing is cutting out coffee creamers / caloric sauces on foods. Easiest way to cut calories with minimal effort.
@@TheIcedCoffeeHouryou need to get in trt and bulk up man. You are cutting like you have build muscles & just need to cut now You are ridiculously small & weak looking
This was so fun! Thanks ICH and George! I feel like George's answers are so predictable if you are a Dave fan. I wonder if he has takes, even non personal finance related, that differs from that of Dave
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
I was adviced to diversify my portfolio among several assets such as stocks and bonds since they can protect my portfolio for retirement of about $170k. I need advice: Do I keep contributing to my portfolio in this unstable market or do I look into alternative sectors?
The strategies are quite rigorous for the regular-joe. As a matter of fact, they are mostly successfully carried out by experts who have had a great deal of skillsets and knowledge to pull such trades off.
That is very correct. Having the right financial expert is invaluable. My portfolio is well matched for every season of the market and recently it has hit 80% rise from early last year. I and my CFP are aiming for a 6 figure ballpark goal.
Judith Lynn Staufer is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
I am 39, I only eat takeaway once a week, no coffee outside, no subscriptions, I currently save 60% of what I make and I do not make a lot, but if you spend less than you earn you have a bright future.
live a little.. saving isn't everything in life.
It's not how much you make it's how much you save. But that's only part of saying the next part is "and what you do with what you save." So, what are you doing with your 60% savings?
@@HelloWorld-hb7yt Honestly, it depends on what makes you happy. Not everyone derives happiness from the soul-less action of materialistic spending. If someone gets more enjoyment out of life with saving then spending, and knowing they have a secure future, then good for them.
@@rebeltheharem7028 - agree... starbucks makes me very happy.
Hopefully that 60% savings is in a high yielding savings account at the minimum
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance
The government will have no choice but to print more notes and lower interest rates
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 3 years now, amassing nearly $745K in return on investments.
@@williamDonaldson432 this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Couldn't watch the full video but is only applicable if you put the money into something lucrative... Two years ago, I was in a similar dilemma and ultimately decided against buying a home since I was comfortable in my rented apartment... That turned out to be a great choice because now, I make close to 15 grand a month from investments I made with it then and I almost have enough to fully pay for house if I wanted to...
💯💯
nice. what investment did you make?
Mostly stocks but don't go in blindly, do a proper research on how to go about this process safely and the right ones... Alternatively, consider working with an expert, like I eventually did, to help avoid costly mistakes, especially in the early stages... Good luck...
Been considering going into this for sometime now. Heard its a nice way to make some extra funds,, Now do you get a competent expert and how expensive are they,,
@@Kortneylove-1 You should begin by seeking out individuals with strong records... Also make sure the person is registered... Personally, I use Marie, Kelly Matwick. She's not so popular but you might have heard of her. And they're usually way cheaper than you would expect in the US...
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
I am 28 and I do live at home (parents) but I work a good job (HVAC Technician) and have been investing for 6 years with only 500$ rent. I have no debt and do recommend living at home as long as you are being productive and not spending on anything unnecessary.👍
Do you have a girlfriend?
@@SirGriefALothe probably doesnt
@@mr2fas2 He might, but the biggest reason to move out for me was so I could invite a girl over to hang out and we wouldn't be in my mothers house.
@@dannygutierrez9929 you’re a child
@@SirGriefALot I live on my own and still don't have one lol. It's rough dating in the modern USA either way. So many crazy women and it can be hard to tell the difference between them and a normal girl quickly enough to save yourself.
Speaking on cars, I bought my ideal truck when I was 25. Paying it off wasn’t Terrible but still sucked… ten years later I still have it but I drive my fiancé beat up Corolla everyday and I love it. You can’t beat a $30 full tank that lasts 2 weeks
That “and then what?” question and portion has my mind spinning. It’s so easy to get fixated on the goal we forget the larger context of what we were doing in the first place that required us to set the goal
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Exactly , a lot of people neglect the need for a FA , i've been in the Housing market for years , i didnt see need to diversify, but since i got portfolio manager , i make $100k every quarter for the pass 5 years by diversifying in different financial market
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from Vivian Jean Wilhelm to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
I'm an amateur with a portfolio of 180k and I've got some real estate holdings too, but it's hard for me to build confidence. I want to invest another 70k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Are these good stock suggestions?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
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.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
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.
"Don't let your safety net turn into your hammock." Wow, that is a great statement. I have somehow never heard that before 🤓
LMAO this George guy saying @1:14:15 - "Why would I pay my babysitter $25 an hour? Ridiculous! All they're doing is monitoring my baby and keeping my baby safe - how is my child's safety and wellbeing worth $25/hour? They should be happy I pay them $17/hour! What, they expect to get paid for their job like everybody else? Their job is fake! I'm an important "Online Radio Host"! My job matters. Being a radio host might even be more important than doctors. Yep babysitters are fake and their job is fake and worth less than my office job. If I pay babysitters a $15/h wage, surely they can afford to rent a wet dark basement + eat rice and beans every day + have $10 left over after their living expenses at the end of the month so they can put $10 in the stock market and buy a house with cash in 400 years! Come to my show for more coherent advice."
What an idiotic and evil way to treat normal working people. Thanks for having him on the show, you guys looked like nuclear scientists in some of those discussions, although you didn't rebute some of his takes enough
this was me until july of this year 28 making good money but just did not move out even though i could because of the comfort and low rent. it is funny im paying off my debt faster now that im out of the house and dont have that safty net and paying 5x the rent instead of just blowing it away on pointless stuff. so glad i moved out there was a level of meturity i got by moving out to my own(rented so not really mine) place having to set up all the accounts bills . . . i am able to take pride in my place and it has become an apartment home for me and i dont want to move back anymore lol
I have sold my home and planning to go back to India after staying here in US for 24 yrs to take care of my parents. Iam looking for help with investing my home sale proceeds for monthly income.
I don’t see a problem fully invested into stocks as long as you know what the heck you're doing, ideally it's best you consider advisory services to avoid terrible mistakes
Agreed, utilizing a financial specialist did the trick for me in barely 5 years. I worked hard everyday as a teacher for 32 years and my salary was over 100k/yr, enough to get me fully invested. I'm semi-retired today with about $1m, and only work 7.5 hours weekly.
very encouraging for folks starting out like myself, who is the professional guiding you please? in dire need of proper asset allocation
Have you tried the Stanley method...shoving it up your but
I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .
i'd advise you redistribute assets in your portfolio with the help of a pro so you don't get burnt in the market
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 reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *Julianne Iwersen-Niemann* for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for saving me hours of back and forth investigation into the markets... I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
I charge my kids $500/mo to live in our house then I put that money in a Roth 401k with a target date ETF for their retirement at 59. Right now, if they put nothing else into their Roth they'll have almost $2 million when they turn 59.
Very nice!
How old were they when you started? Isn't this just a savings account really?
Nothings guaranteed. I had a Roth go to zero. It can happen
@@swlancaster1964savings with risk. Its all in stocks.
Cap
Wow an hour and 32 minutes of George without any stupid cuts to weird movies! My dream come true!!!
I agree! I don't watch his content because its too cringe for me, but I like listening to him whenever hes on iced coffee.
@@jettrooper101agree completely
I'm also in agreement with you all. His normal target audience must have a very short attention span that requires constant plugged in "entertainment." I had enough and unsubscribed.
I love George’s movie cuts and humor.
George is the one thing turning me off at Ramsey content. I’m sure he can’t help it, but he comes across arrogant.
One thing I never see the Ramsey people talk about is the opportunity cost of paying cash for real estate investments. More people have gotten wealthy off debt on properties, than by any other method. Paying off your primary, then trying to save up the entire price of a home when they are increasing 3-5% a year could take half your working life just to get one.
Dave does talk a lot about. Shares all the time how he went bankrupt leveraging debt.
And more have lost everything trying.
@TPG1977 no he doesn't. He only talks about the increased risk of leveraged assets, never about the benefits, or the opportunity costs of not using leverage. Then compares 30 year fixed rate notes to the insane stuff he was doing when he went bust.
@@tstanley01 he literally talks all the time about having tens of millions in leveraged debt on homes he had as a realtor and the banks calling those loans due and his family having to declare bankruptcy.
@@TPG1977 Yeah, leveraging with 90 day notes.
That's very different than conventional 30 year mortgages or even 20-30 year amortized loans with a 5 or 10 year balloon payment.
90 day notes are exponentially riskier than a conventional 30 year fixed rate mortgage. They don't belong in the same conversation.
On the topic of new cars being less reliable it's pretty clear since around 2003 - 2007 cars are being designed to break after the warranty runs out, Doesn't matter what brand it is they're all guilty.
My 2008 Toyota has had zero problems since I bought it new, still reliable af today.
@@BabyJesus66 Yeah that's what I mean after around that point, Toyota and Honda were probably the last to drop their quality.
I own a 2007 Honda Accord that I bought with low mileage like 5 years ago, still looks and runs great.
I do really like George. Really authentic guy and always has some good things to say.
Excellent Interview ❤
Honestly I love your crossover content with Ramsey! Always look forward to it!
Buying a house freezes your monthly housing expenses for 20-30 years. If you rent, the rent increases over time. If you're not going to move every few years, its still best to own. Your rent includes double the property tax plus profit to the owner. Primary residence cuts your property taxes.
Now imagine you get a better job and can suddenly start making extra payments to pay off in 15 instead of 30 while still keeping a 30 year payment. It’s very hard to say what a good payment is, but you are right. Short term rental to save isn’t bad at all since mortgages and home fixes are expensive. But long term rental planning … idk. I hate to say it’s like burning money but it kind of feels like it.
No, your monthly housing expenses for owning are certainly not frozen at all - especially when the economy functions on inflation. Property taxes, maintenance costs, insurance, HOA, and utilities are guaranteed to go up. Let’s not forget that buyers with mortgages end up paying almost twice as much as the cost of the house over the lifetime of the loan.
@@byronbaker3330 wait til you learn about property tax haha
Now that the fed have been decreasing the rates, all these "money experts" are out in droves trying to tell people not to buy houses. They don't want their stock prices to drop people pull from their investments to buy houses. Selfish as they are, giving bad advice for gains.
What do you mean by double the property tax? Property tax is tied to the property. The landlord works the taxes into the final rental price.
I’m not even five minutes into the conversation and I have something to tell people who want to buy a house! I am 37 years old I am lucky enough to own my own home in the south of France… It is a very nice home with an amazing backyard and I live on a 1 acre property… Considering the house that I have it actually wasn’t even that much money… But, it still was quite some money and A LOT of work!!!! Every day I go outside and look at my yard I am grateful for the amazing house I have… But, I had no idea how stressful it would be to build and own your dream home… I’m seriously questioning whether it was worth it or not.
I had an acreage in Canada. So much work and stress. Back to renting and loving the flexibility.
I love George @2:30!!! ❤❤❤
Viewing a house as an investment is exactly why the housing market is so screwed up today.
A house should be viewed the same way as a daily driver work truck. It's just some walls and a roof where you keep your stuff, cook your meals, raise your family, do your hobbies, projects, and work, and it's a swell place to lay your head at night.
Exactly. Nobody’s fault if the economy takes a dive and people being left with a giant mountain of debt on a house. Now’s the worse time to be buying property 😂
I like buying 10 year old toyotas they are cheap to register and insure. Reliability is unbelievable, and it's already gone through most to all its depreciation. In fact, once they reach peak depreciation, they tend to appreciate 😅 I don't know how it works, but it does ! Bought a 2005 Toyota corola with 150,000 miles for 2k and sold it for 3k after I put another 50k in miles lol
I've got a 2007 honda accord, still looks and runs great. It had low miles for its age when I bought it. Never buy a new car, unless you're happy to flush money down the toilet.
Wondering where you got a Corolla with 150k miles at only $2000. That’s outstanding!
I bought my 86 corolla for 1600 and instantly people started offering 10k and 15k but the car is now worth north of 25k and only going up
This is the summary of the rent vs buy decision I’ve been trying to figure out for years. The rental income vs mortgage payment calculation never made sense to me. But this is much more logical and makes far more sense. Thank you for simplifying this!
Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
I tried looking into new strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.
I've stuck with the popularly ‘’Jessica Lee Horst” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Jessica after inputting her full name on the web, she seems highly professional with over a decades of experience.
I love George. Even though the Ramsey strategy has its flaws the base knowledge is very powerful for any person
Name a flaw?
what are the flaws?
I think people can’t recognize the fact that Graham/The Money Guy team are more EFFICIENCY based and Ramsey is more emotion/motivation based, in the end its just about making sure people are sound financially for the future. Do what works best for you, I don’t get why it has to be a battle royal of ideology😂 Not to mention that 95% of the ideologies are the same to begin with
@@timmysfittness903paying cash for an investment property
Government accounting is completely different from business accounting, because of the nature of govt income. Tax cuts are not intrinsically good, just like govt spending is not intrinsically good.
Social Security is not a Ponzi scheme - it is an anti-poverty program that was in response to the severe poverty experienced by the elderly during the Great Depression. In the regard, it was an extreme success. However, you are absolutely right about it not being intended to pay out for 10+ years. It would be better is there were forced defined benefit pension plans for workers, and a separate anti-poverty program. The most important things Govt can do are maintain a certain amount of order (anti-crime), provide physical infrastructure (roads, waste management, utilities), and public education. Anything else is gravy - some people like gravy & some people don’t.
Tariffs are like sales tax - it disproportionately affects the poor. If a mango costs $15, it becomes available only to the wealthy. To resolve those problems, you have to make exceptions & complicate the tax code. If a flat income tax with zero exceptions were implemented, that might be fair.
So just doing quick math here, if you want to buy a house for $300000 with a 15 year fixed rate and a mortgage payment no more than 1/4 of your income… you need to make $46/hr. Yikes
Exactly, so soon as the intro hit I was like, "okay, but it's impossible to spend within your means."
Ya these principles were made for when houses weren’t up 200% in 3 years
To put that into salary terms, it's around 100,000 per year.
That's only the top 10-15% of earners in the country.
Now let's also include the fact that 300k is pretty much the lowest it goes these days outside of a trailer house.
So the top earners in the country can afford the cheapest houses in the country.
@jenn-y5n you can get a lot of house for the money if you buy in a poor/ghetto area. I bought my house 4 bed 2 bath for 50k because of the area. It took some convincing my wife but she is happy in the area as low mortgage, a rated school in the district that our kids go to and we doubled our income since we bought the house 5 years ago and have tons of equity in the house. Make the right choices instead of thinking about status because that's what most people do and put themselves into debt
If you are married then that salary can be halved between the couple. That being said, I’m a big Ramsey fan but when we refinanced in 2021 we still ended up choosing the 30 year over the 15 year. The 15 year term payment amount was too risky for us to take on. God forbid one of us loses our job and even with an emergency fund it would be a very stressful situation.
I am getting rid of the CC. $20,000 spent is not worth the $200 toward travel. You are welcome to continue to play the game, but I am leaving the table.
It only works if you pay it off monthly.
Get some discipline. Use it as you'd use your debit card. It's not that complicated. And TRUST, I've saved MUCH more than $200 on travel.
@@cm88__ny exactly! We have flown to Hawaii 2 times, Oregon, LA, Burbank, gotten free room all for paying bills I have to pay anyways. 😉
Next, get Ramit Sethi on! That would be an amazing episode
"Crypto is Mary Kay for guys" WOW! Never thought of it that way but you know what? He's SPOT ON!
I've always been calling Crypto, NFT, and things similar to them multi-level marketing for a long time. They are all worthless things, and the only way to make money is to constantly bring people into the "game" to profit off of them, get them kicked out from bankruptcy, and repeat the process with new idiots. The people at the top control the supply of crypt, ready to do a massive sell off at any time. Profit. Wait till it hits a "floor", then repeat the process.
If there's one thing the world doesn't have less of, its gamblers trying to shoot for the moon.
That comparison would make sense except that major world governments own bitcoin, not stock of Mary Kay. Bitcoin is a store for value, but it’s also a realm riddled with scammers. Don’t follow people. Follow principles. FYI I own very little crypto. I just pay attention to the world.
3 years ago, I started investing with $300k, but I've only made about 6% total, or 2% per year, which my friends say is very low. I also put $800k into a 401k with a financial advisor, and it's now worth about $1.2 million after 10 years. I think I need to revamp my portfolio. Any advice on what to do with my money would be greatly appreciated.
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if the advisor is providing any other value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
You should definitely fire your advisor! That's a bad financial advisor. Over 50 years of data reveal that those who work with fiduciary advisors typically earn more than those who go it alone. I've been fortunate to work with one for 6 years, resulting in a $3 million portfolio.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
You need to be smart abt it. you can always make more with a good advisor.
Best moment was Graham conceding that tap to pay was less painful. There has to be a notion of psychology and personal habit in finances to help an individual get the best chance of reaching their goal. This is a prime example of what it means to disagree and still debate but not throw mud at each other. Thanks for the vid
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I became a millionaire on a costco 50,000 pre tax salary by investing in stocks and flipping real estate. Bought my first house at 22 10 years ago, just sold my 2nd flip and about to buy a house in cash. My dividends are enough to live on now so im actually a millionaire and only 32 with zero debts.
I am setting my son up for exactly this. I set him up with his Roth IRA and hope to help him buy his first house soon. He’s 19. Any recommendations for him?
Those days are long gone for everyone now…
Dude seriously, my rent has gine up 50% in 4 years. I make 60k post tax and have 2 kids and have no debt but an barely making it. It's fucked
@alexlopez5800
@@Knowledge.to_Come dude you’re killing it. I make low 6 figures and I’m 30 and I’m no where near retirement (but I am on the way to it).
I make a million a year and I don't know if I can retire
“America is broke” - people are purchasing condos/ townhomes built in the 80’s in my neighborhood for a higher price than $900K today with high interest rates or cash (no backyards even. Just patios by the front door)..
I am regretting not investing in digital assets ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the market. What coin should I look into as a newbie to safely grow my money?
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
Love George and Ramsey Solutions!
I have a singular 2 unit. My tenants knew the landlord was the neighbor. I felt like i just didnt have to worry about my tenants messing anything up because I was the neighbor. I also didn't have to worry about neighbor complaints. Havent had a tenant in 4 years (my mom now lives in the other unit) and i have learned i just do not want to be a landlord/property manager. Still 100% am so happy i bought my house.
I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for" "Expert solutions require Expert providers" - my mantra
Agreed, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve early retirement.
@@beautifulpeopleonearth I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?
Annette Louise Connors is the licensed advisor I use. Just research the name. You’d find necessary details to work with and set up an appointment.
excellent share, curiously inputted Annette Louise Connors on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I am 27 and i just started my ROTH IRA and deposited the max for 2024! I feel stupid for how long it took to get my life straight. The problem here is, what is the best way to invest the money to grow for retirement?
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
You don't need to find the next NVDA to succeed in the market. Just choose top-notch ETFs and partner with a CFA like I did. I turned my $90k inveestment to one that yields $50,000 in annual dividends-a significant milestone for me today.
Impressive! I admit I'm scared about retirement as I approach that chapter. I need to ensure I have enough savings to survive on. My retirement account isn't doing great. Now, I need that professional rescue. Please direct me on how to reach a sound adviser
KATHLEEN CHERYL CONSTANTZ is who I work with. Have worked with her for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
It appears Kathleen knows her onions in this industry, from her intimidating profile which I went through, on her web home page. I started off last year tailoring a colleague's tradin strategies but it didn't pan out well. Hopeful that Kathleen will attend to my message.
Thanks for a great and civil conversation! Always interested to hear your opposing views but in such a positive manner. ❤❤❤
I love the intellectual sparing here.
There's a condo in my building I wanted to buy as a single person. I did the math buying vs renting, and the break-even point never came. I'll be living abroad in retirement, so no need to buy a home here.
Another great interview! Let’s get George to true GOAT status with 3 more conversations!
The corporations who own Grocery stores, and the corporations who own the fast food restaurants, are all making millions upon millions of dollars of profit. They can all afford to pay their workers more and not get hurt by it.
Small businesses are a different story. But large corporations can absolutely afford to pay their workers living wages.
I sold cars for over thirty five years.Guys, and my takeaway is this . For most people, the two most expensive items that you will ever purchase are real estate.And an automobile. The trick when buying vehicles is to buy a used vehicle. Always let someone else. Take the depreciation, drive it for a few years or whatever time frame you desire and then sell it and get a different used vehicle. By taking pen to paper you will find out that that used vehicle cost you probably $400 a month at most ( or $5000 a year ) depreciated. Then you have a paid off vehicle STILL HAVING VALUE when you sell it. Another way to look at it is If you figure $400 a month in payments Can you go out and rent any vehicle?For thirteen dollars a day? Or 400 a month.answer is NO YOU CANNOT. Hope I open your eyes a little bit.
This is true, I hit the jackpot with my current car. Got a 10 year old Jap import where the previous owner was elderly and only drove it a couple of times a week. Had it for 15 years now with few problems, even if the engine blows up tomorrow and I have to get another car I've had a damn good run
My house was 135000 in 2020. Had no working bathroom but I fixed it and now my mortgage is less than your rent. 800 a month.
Well done!!
What state? In my county in CA you can only purchase a mobile home for that price.
I still live in a townhouse I paid $75k for back in '09 😅 I own millions in commercial real estate now. Most people would never guess. Especially my neighbors lol.
@@IrisP989😮😢
@@TinCentswell done!
"Let's get a house, let's make the mortgage reasonable" Good luck with that.
I pay less than 1300$ a month for my mortgage, seems pretty reasonable to me, just saying....
@@darmoudepends on the property and where.
@@Joe-ti7qd Exactly!
@downscreen129103
made a very general comment, which as I pointed out does not hold up in every single scenario
@darmou i live in nyc and thats impossible unless you commute 3 hours or more a day to work.
@@marcelrodriguez2067 Or you live in a shoebox, I get it, as I said it depends where you live. I used to live in the Bay Area and I moved to Texas because I could not afford a house in CA.
The dirty little secret about owning a home that none of these people will ever talk about. You never truly own your home because you pay taxes on it in perpetuity. Property taxes are basically a permanent lien on the home.
The 'just move' idea works! I lived in NJ and couldn't afford a house. Moved to rural Virgina. Best move I ever made.
I know George pinched some nerves by not condoning living at home in your late 20’s. 😂
Only Americans born and raised would get offended.
Living with family is smart now.
buddy im European i live at home and im from canada. Moving out at like 20 is such an American cultural thing. Its just me and my dad living together, im not going to abondon him and leave him alone. My mother passed away so we keep eachother company and i save money. still love my life who cares.
All I know is, I'm someone who goes against their trend. I moved out and bought my own place in my 20s, but I'm definitely not any happier. I don't feel any more responsible or grown up or whatever. I was a lot less stressed and anxious living with my parents and I'd never tell anyone they have to move out, it's not all it's cracked up to be
He's right though. I moved out a couple months after graduating high school and was able to buy my own place at 20 but the amount of people I know that are only a few years away from turning 30 that still live with their parents and their parents still pay most of their bills is absolutely ridiculous
Look up the stats most food prices have increased %50 the highest increase ever in less than 2 years gas prices up the U.S. government is printing more and more money with nothing to back it up.which in fact also caused inflation.wages are not keeping up with inflation for most people who make under $43 K a yrar with a family this is a problem.Not everyone makes 6 figures a year in the U.S.your talking about buying a home most people cant afford to rent an apartment firget buying a home really?
This was an EXCELLENT episode, guys! Educative, entertaining, and refreshing. I loved it so much!!!! ❤😊
Im staying at home paying for half their mortgage as rent and utilities while saving 60% of my income. No debt, and I own all three of my vehicles. If anything, my parents would struggle living there if I wasn't there? Ooooo such a bad thing to live with your parents for any reason? 😅 These podcasts have just become "Do this 1 thing that worked for me and your set for life" just to blanket the maybe 30% of people that applies to. TH-cam autoplay really is reaching to go from painting videos I was watching, right into a finance/housing video based on my recent cookies. I recently google'd Houses for sale in my area... that's not sus at all that youtube is now feeding me these videos out of nowhere.
Yup. I think its fine to live at home, if you are actually paying for some of the bills, no matter how old you are.
I actually quite disagree with the US-Western sentiment of "kicking a bird out of its nest", or go independent. I think its fine if the child is just free loading and they are already in their late 20's, but not if they are paying and earning their keep.
Besides, its been proven that it takes a village to raise a child, and that children raised with whole families are always better than being raised alone (not to mention most parent's can't actually handle it).
To be honest, I think that they are all doing so well for themselves, they are disconnected from the average American.
Personal finances are personal, and there is no such thing as a one size fits all.
Most people don’t just buy a $5 coffee though. They buy the coffee and a snack, and then buy lunch out, then get takeout for dinner because they’re tired, then pay for 5 different subscription tv services, then go out on the weekend and spend who knows how much. On top of the occasional shopping for clothes, items for the home like decor, or even a vacation, that all adds up to waaaay more than $150 a month. So yeah, those things are kinda keeping you from buying a house but you enjoy your psl.
House purchase depends on your situation. Do you move every two years? Then don’t purchase a house, yet. Owning a house is a hedge against inflation. No mortgage and no rent is like a rise to income.
100%. Rent does make sense for some people.
Depends. Buying a house, moving and buying a new one can be a fantastic strategy. You don't have to sell when you move, you can rent it out. Even at a break even or slight loss each month, the tax benefits and the fact that you are having someone else paying for one of your assets is pretty dope. Everyone focuses on cash flow in the real estate sphere, but if you pick up a few houses in your 20s and 30s it can really set u up. I love the tax breaks I get.
@@jayraitt9023 definitely a great way to grow wealth as long as you can cover the expenses of vacancies, unexpected repairs, etc there’s some risk associated with this strategy.
Your circumstances can keep changing as well, marriage, kids, kids leave to college, job change and the list goes on. The perfect solution for today probably won’t be the solution for tomorrow.
Homes are the complete opposite of a hedge against inflation 😂 like what?
Omg I totally get where Graham is coming from…nothing makes me happier than accomplishing a task/goal/project! I get so happy to make my lists and check them off. Yay to productivity nerds 🤣
Investing in mutual funds offers a structured and diversified approach to building wealth, managed by professional fund managers. While there are costs and some limitations, the benefits of diversification, professional management, and ease of access make mutual funds a popular choice for achieving a variety of financial goals.
ADBE, VWINX and FSPGX are all still good buy, but what do I know I’m not a financial advisor lol
Exactly, I used to doubt the value of a financial advisor until my wife's company assigned her an investment adviser in 2020. Honestly, it’s been the best financial decision I’ve made. It helped tremendously; I went from barely making any profit to having a well-diversified portfolio that has grown significantly, with gains exceeding $850k.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya Lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Probably the best financial content I have seen in the past many years.
I hate the idea that people just need to move. I was born and raised in New York. So many people I grew up with have been priced out and it's ridiculous. We all are college educated and have good jobs and STILL can't afford it.
Also, I'm not Graham and I've been playing the points game for years. Credit score above 800 and never had a late payment on any of my many credit cards. Plenty of people have financial discipline. Homeboy saying redemption of points is like Chuck-e-cheese is crazy. (And he comes off very demeaning. Something about his attitude I just don't like.) I have not paid for a flight in about a decade. Think of how much money I have saved over 10 years on vacations. And I travel a few times a year. It's the smartest thing someone with financial discipline can do. Finding ways to save money is always the goal.
It's a slippery slope. It's much easier to put 3000 in, spend, see 200 and say fuck.
It's much harder to swipe swipe swipe and then your bill is bigger than expected and you have no fucking clue what happened
Glad to see George on again!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Pelham04 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Lourd-Bab Oh please I’d love that. Thanks!.
@@Pelham04 Clementina Abate Russo is her name.
Lookup with her name on the webpage.
Finally an honest and smart discussion of financial options, didn’t waste my time.
I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
I opened an online high-yield savings account with 5.12863% interest compounded daily, expecting to get $2,500 in interest on my initial $50,000 at the end of the month. Instead, I only received $420. When I inquired, I was told the interest is calculated daily, which was not clearly stated on the website. My partner advised me to divert into stocks through an advisor, and in just six months, I achieved over 80% capital growth, excluding dividends. Highly recommended!
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and i am interested in investing in stocks.
Celia Kathleen Martel is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She’s really good
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
George holds his own very well..i agree with him and Ramsey
Do not buy a home? I pay less for a mortgage than I would pay rent. I can't be kicked out by a landlord if he wants to sell the house, he can't raise my rates every year. I can do what I want to the house and I have complete privacy without the landlord visiting. Renting is mugs. And landlords are predators. Own your house.
Yea, I owned a home before Covid, my mortgage and taxes were $1700 a month. I sold just before Covid hit and am now stuck paying $2600 a month in rent and have had to move abruptly twice when the owners of the places I've rented decided to sell. Houses in the area are still overpriced by at least $100k, so we're between a rock and a hard place for the next 2 years until our son graduates high school. Would have been infinitely better off having bought a house vs. renting, but hindsight is always 20/20.
My advice? Don't take advice from 20 something year old influencers on TH-cam, especially ones that start by blaming millennials for all our problems. These guys are probably all invested in commercial real estate schemes that buy up residential properties.
Most of the time yes, there are a few situations where renting is the better option.
As of right now I pay 1800 a month to rent a 1300sqft condo in the Midwest. A mortgage on it would be 2200 on the low end based on property value. Thats not even including property taxes, maintenance and HOA
There are a lot of fees related to owning a home. Not just mortgage interest. Welcome Tax, transfer tax, property tax, school tax, insurance, utilities, repair and maintenance, condo fees (if condo)... Comparing rent vs mortgage is inaccurate.
Everybody says they pay less for mortgage then they do for rent. That’s not the point.
Great episode, guys!
I think multi-generational living is going to be to be doing a comeback despite what this guy says about “living at home”. Nuclear families are kind of a new thing and very American.
and it also saves money! what's the point of kicking our kids out if they'll be broke?
I love George 😂 this is great content guys thanks!
Grant impression was very underrated it was spot on 😂
The best advice George gave was Pay attention to your money that tip is worth millions over your lifetime.
$400,000 isn't "the most expensive home" it's below the median home price!
Yea he is a clowwwwnnn
400k is a super ghetto house in my area lol
@@abramsrobit’s a mansion in mine.
@@starspaceschool587 400k won't even get you a house in low cost of living states like texas, new mexico, arizona, nevada, etc
@@Hedgeflexlfz Your right it will get you two.
I bought my 2014 Honda civic in 2017 with 15k miles on it for 16,200 have put about 100k miles on it now and other the maintaining the car I have had zero issues, and I’m in the northeast. Buy smart and you will never have issues
I’m in my mid thirties, had terrible roommates (last one was so manipulative it caused me to have a breakdown) and I live at home. I’m salaried. I pay a good chunk to my parents, and I can pay off debt. Rent has skyrocketed in my area and country, I did the math yesterday and I would need another $800 a month to just break even to rent. I’m going to be here until I have enough for a down payment and I can pay down debt in that time. In today’s reality, this is common.
You can add EQ insurance for an HOA, it is up to a bunch of volunteers that do not work with great insurance professionals.
Why don’t they talk about the economy? Like how are you going to throw these huge numbers around or talk about investment properties and not take into consideration the economy? Insane advice!
Love the podcats with george or any of the ramsey talents or himself
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I think l'm blessed if not I have met someone who is as spectacular as expert mrs Janet..
Highly recommended🙌
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits
I hate doing sales. I just closed my business because I can’t do everything and make the sales. It never worked mathematically because anything product I had that I could sell repeatedly, that wasn’t one of a kind, did not sell well.
Isn't property tax basically an unrealized gains tax?
Yep, and property tax is a fking terrible idea too.
For sure , most properties tax is also tied to real estate trends as well, so it is definetly a a tax on unrealized gains and should be unconstitutional. Crazy that they can tax you on the value of your home.
No. It's an annual tax on the value of the asset. It's not a tax on the gain in value between purchase and the time of assessment. It's difficult to point out an equivalent because property taxes are so different, but car tabs come close.
@@jsteel_ True, your explanation is better. I was tunnel visioned on how unrealized gains taxes and property taxes make you pay taxes for something that did not give you any money.
Yes! Smart young generation! Must replace those old lost greedy persons ! Thank you guys for changing this world to the best !👍
Most young adults "DO NOT" Know how to manage their money. They work hard to make it then turn right around and blow it all on stupid stuff. Mostly entertainment crap.
@@jjboohoo9641 people who manage money in today’s time stil can’t afford things.
Yes, but I don't even see what's that bad about working 40 hours a week. If something like video games give you enjoyment then go right ahead and buy.
@@ItsMicobs In America there is not a single person who manages money. That's the issue.
And weed.
The habit of buying shit is like filling a cup with water: it fills the available volumetric space. That's the problem, it's a slippery slope into overconsumption if behavior is ignored; and it's never been easier to impulse buy
Graham totally on point with the saving for a house cash over 20 years. Makes no sense when you put 5% down which is now worth 100k more
You gotta run the numbers...
Right now when the interest rate is high and the housing price sky rocketed since the pandemic it is a horrible time to buy a house.
But if you had locked in the lowest interest rates in history before the price rocket then it's good.
It's dependent on the numbers and research
Agreed. The rent vs buy calculator is perfect for that.
You just have to come up with more creative ways to find your success in adverse conditions and in dire economic circumstances
Love all the advice but I personally disagree with the charging kids to live with you. We have four children ages 38 to 21. Our three oldest have moved out and were able to buy their own house right out of the gate. Our youngest is still at home , goes to college and will graduate in the spring with two majors and two minors she also works 3 separate part time jobs to pay for her college and has a decent savings. With that said she makes her own car payment but we pay for her phone and insurance. I realize not all kids are that ambitious but I think our kids were better off able to save so they had a solid ground under them when they did move out.
"It's not becase of inflation...not because of the economy. It's because they're not living on less than they make."
Well WHY aren't they living on less than they make? Could it be somewhat due to the inflation and the economy?
In some states and cities. I had to own up to my mistakes when I realized I held most of the blame.
Poor spending habits lol people need to take responsibility of the things they have control over, instead of putting the blame on things they can't control and say it's not their fault. At the bare minimum you can say poor spending habits is a major contributing factor.
Current economic conditions do make things harder. Conditions will make things easier or harder. You can't control it either way. Spending as much or more than you make it doable in the best and worst economy and a crappy decision in any.
@@miguelocampo9595 I don't disagree that progress can be made by tighter spending. I'm not even disagreeing that placing the blame on outside factors won't get you anywhere; however, it's important that when you are diagnosisng a disease, you have to figure out what are the symptoms vs what's the actual root cause of the disease. Every financial metric will tell you (1) the power of a dollar doesn't go as far today as it used to and (2) people on average aren't getting more dollars in salary to keep up with the increase price of everything around them.
If you were to watch Financial Audit w/ Caleb Hammer, you'd know that it absolutely is because of people's B.S. spending.
As a california resident, I've noticed the price hikes in fast food in more rural areas. But around me prices have been fairly stable since 2022
Making accurate predictions for the housing market is quite a task due to the uncertainty surrounding the Federal Reserve's ability to effectively reduce inflation and borrowing costs. This delicate balance must be maintained to prevent a substantial decrease in demand from buyers, affecting everything from houses to automobiles.
I suggest getting expert advice. The most efficient way to build a solid portfolio is to work with someone who fully grasps the market's unpredictable but rewarding dynamics.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
How can I contact your Asset-coach as my portfolio is dwindling?
Her name is Sophia Maurine Lanting can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Love this. Always a entertaining, encouraging, and educational group. Would love to hear more on the studies showing higher spending on a credit vs. debit card. I find that extremely interesting and a pursuasive argument. Thanks as always!!
There can be no doubt that this year is worse than the last. I lost a lot of money last year as a result of making bad investing decisions that I would not have made if I hadn't been so worried about my portfolio. I continued to invest, but I wasn't sure if I should start saving for a house. I ultimately had to sell everything I owned since the house required more upkeep than I had anticipated. I'm not sure how long I can continue in this manner.
Every one of us has made mistakes at some point. Consider financial planning
It is true. With the assistance of a financial planner, I was able to diversify my portfolio across many markets, resulting in a net profit of more than $1 million from high dividend yield bonds, ETFs, and equities. It is critical that you have an array of exposures, particularly with established lucrative firms.
Alright, so where can someone locate a reliable financial planner? It won't be a problem for me to find the professional who helped you. I'll be retiring in two years, and I might require assistance with handling my far more valuable assets. I'm not willing to take any risk
June Renae Matthysse. When you check her up online, you are likely to find more details.
She seems to be kind and well educated. I looked up her name online and discovered her website, thank you for sharing 👍
This one is a banger! I could do an entire reaction video. So much to say!
Paying cash for an investment property does not make sense to me. I also think he’s right that 3% in most cases is not wise either.
I totally agree. At least 20% down and make sure you can afford the mortgage if it sits empty. Also have a sizable emergency fund in case problem arise which they will.
Doesn't make any sense to me either, if you have that sort of capital might as well just put it into index funds where there is (arguably) less risk over the long term, don't have to worry about problem tenants, property taxes etc.
@@00mazoneHow the fk are you going to do 20% down on a house lmao?
Like actually, given the overbidding, closing costs and costs for renovations, how are you going to have 20%?
The cheapest homes near me are about €350k. That means atleast €70k down, which is almost 2 years of average net income. But average overbidding is 10%, which you have to do in all cash, so that adds €35k. Then you also need to do renovations in that house, so let's say you do everything yourself and just pay for the materials, €10k. Then you also have some closing costs at about €10k.
Total cash needed for 20% down: €125.000.
@@basmca1 I did it by saving up for 5 years. I put 25% down on a $390k house and had to do about 10k in repairs. If it was easy everyone would do it.
@@00mazone Not going to happen here in 5 years unless you are very high income relative to the house or get money gifted to you.
I got a 2014 Kia Sedona for my fam with 50k miles for $15k. But even though I bought it cash, vehicle repairs are sooo expensive. I spend $1000-$2000 almost every time I go to shop. I have to budget $400/month for auto repairs. And I maintain them meticulously.
I’ve noticed graham’s face getting a lot skinnier, I’m trying to lose face fat myself. Can you drop the workout routine?
I’m down 10 pounds this year! It’s 5-6x per week gym (half cardio, half weights) + no alcohol, minimal sugar, and “the caveman diet” aka one ingredient foods. Biggest thing is cutting out coffee creamers / caloric sauces on foods. Easiest way to cut calories with minimal effort.
@@TheIcedCoffeeHouryou need to get in trt and bulk up man.
You are cutting like you have build muscles & just need to cut now
You are ridiculously small & weak looking
@@TheIcedCoffeeHouryou are small man
Build some muscles before cutting
lol
This was so fun! Thanks ICH and George! I feel like George's answers are so predictable if you are a Dave fan. I wonder if he has takes, even non personal finance related, that differs from that of Dave
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Wow you give me hope
Please how's that possible, I'm curious
Please how do i go about it, am still a newbie on investment trading and how can I make profit?
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
I was adviced to diversify my portfolio among several assets such as stocks and bonds since they can protect my portfolio for retirement of about $170k. I need advice: Do I keep contributing to my portfolio in this unstable market or do I look into alternative sectors?
The strategies are quite rigorous for the regular-joe. As a matter of fact, they are mostly successfully carried out by experts who have had a great deal of skillsets and knowledge to pull such trades off.
That is very correct. Having the right financial expert is invaluable. My portfolio is well matched for every season of the market and recently it has hit 80% rise from early last year. I and my CFP are aiming for a 6 figure ballpark goal.
Could you kindly elaborate on the advisor's background and qualifications?
Judith Lynn Staufer is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
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.
Mary Kay for young men 😂😂😂😂