Poor people habits 1. Not curating your Inner circle 2. Buying more than you can actually afford 3. Working hard. Not working smart 4. Not earning what you are worth 5. Pay all your taxes 6. Relying on one stream of income 7. Using credit score as an indicator of wealth instead of networth 8. Spending before you save
"earning what you are worth" is the hardest one for people I think. It took me way too long to quit a job that simply wasn't interested in promoting me or giving me raises because I didn't want to leave my coworkers. Then I left and doubled my salary to do less work at another company, and every minute of every day I wonder to myself "why didn't I do that sooner?" Great video
I just read The Asian Diet by Jason Bussell...has great merit for a balanced life. It is not a weight loss book. I hope to follow the book when my debts are further reduced.For now I literally live on beans that I soak/both brown and white rice, greens supplements powder, D3 K2 vitamins, self-rising flour to make homemade tortillas....a food shelf 3 times in a year$30 month..After 2 years I added whatever is cheap fruit that season, cucumbers (daily), spinach..$45 mo. I eat about 3 cups of food a day. Instead of a candy bar, I buy a bag of milk chocolate baking chips for $2.20 I have paid off $27,000 in 3 years...Still more to go on my 0% balance transfer
Expecting to succeed and have everything at 22? High ambitions for a young age! Wish I'd have figured out half these things when I was as young. Well done you!
I'm a 25 french engineer with a above average salary and i cant afford a house Our generation doesn't have the choice but to look up and grind to get a decent life and freedom
Rose is the entire reason I was brave enough to learn about financial freedom and implement investment strategies. I came from a very low class family (albeit a loving one!) However, I swore that my kids wouldn't live like that. I started late and they are teenagers now but I am working hard to teach them about savings and investing in their future so they don't have to grow up a prisoner of their paychecks. THANK YOU ROSE, for not gate keeping all the juicy info! ❤
Paying yourself is very important but let's not kid ourselves. Bills must always come first. There is no need to pay extra late fee for things like rent, car, utilities because you decided to treat yourself first. It should be Mandatory Expenses > Pay Your Self > Savings
The inherent problem with these videos is the point is supposed to be "you too can be rich" but it's logically impossible for everyone to be rich. Rich is a relative term.
Not really. One person owns more wealth than 60% of people so that one person could literally improve the lives of majority if we banned that from existence. It's not hard to see the rich are the issue
@@foreveryoung999 no it's capitalism actually and it's late stage. One person owning majority of the world's money is sickening and not something to view as proper.
I have a wealthy aunt and uncle in Southern Ca who are getting a museum being named after them. How did they become Billionaires? They worked smart. They rented stuff out which exponentially duplicated their time. Company/income grew and diversified their real estate portfolio. They never complained and WORKED AS A TEAM. I am proud of them.
I am convinced that the taboo around speaking about money was created by the uppers to keep the lowers poor and in the working class. Financial visability is key, ive started talking about money to all my friends and family, some feel uncomfortable but thats ok they dont have to share their income or anything, Its still nice to be transparent about mine.
I was thinking the same way but noticed the envy in people surrounding me. Friends for 15 years started looking at my expenses and salary... keep that in mind.
I think talking about money is like talking about your health. You don't have to share your weight or hdl ldl but you can discuss how you take good care of it in general. How's your diet working or what's not working, listen to others tips etc
The reason I don't is because of jealousy. You can only talk about money with people who have exceeded a certain threshold. Otherwise they will just think you're bragging and they won't bring anything to the table in terms of sharing their own strategies because they don't have any.
Yeah I always thought it was super weird how people felt uncomfortable discussing their finances. I mean I guess if some people feel ashamed that they earn a low income?
i was taught to spend, spend, spend until nothing left except a huge steaming pile of debt, then my mom went broke and had to get a second mortgage on our house just to have lower interest on her credit card debt. After I saw her struggles I have always done my best to save as much as I can and NOT max out my credit cards. I actually dont have one anymore. If I will be paying someone 18-30% interest I would much rather be earning that some way. Love the brag file as well. Thanks for this video Rose.
i had no idea how to make money as i had always worked in operations , we just get orders done. At the age of 43 i don't see money in my bank as every months pay day was also paying debt day . I quit the job at 43 bcoz i was unhappy , went into a small business and at 50 years of age I'm financial free . My investment dividends pay 2 times more then my job as operations manager . Thank you Universe for steering my path
1. Being around rich people - Unfortunately, no unless watching TH-camr’s counts. 👎 2. Credit cards - The only reason I use credit cards is to get cash back rewards. I always pay them off, not every month, more like every week. I have no significant debt. 👍 3. Work hard - Not really, my working hours went down last year while my income went up. 👍 4. Being quiet at work - I am the quite type so yeah, fail on this one.👎 5. Taxes - Yeah, I ended up with a significant tax bill this year.👎 6. Single income stream - I have three, my job, dividends, and bank interest 👍 7. Credit score - yes, I have a fantastic credit score. I track net worth about once a year and yes, it is definitely going in the right direction.👍 8. Spending before you save - Nope, I save 5 percent automatically in a high interest savings account, then 10 percent to investing. At the end of every month, I invest what wasn’t spent. No joke, investing ends up being my top expense category most months. 👍 Great video, thanks.
@@itsrosehan You did not mention YOU sold stuff (maybe courses sound familiar?) .... And you kept your channel instead of starting over which again allows you to sell us to watch.....
@@itsrosehan Thank you so much for a personal response and glad to know watching TH-camrs counts. I have learned quite a bit watching you and other financial TH-camrs.
For some reason we think it's taboo to talk about money and sex. Never ask what's happening in someone's bedroom, but there's nothing wrong with talking about sex in general. The same with money. Never ask "how much", but it's OK to ask someone what percentage of their income they save towards retirement. People freak out when you ask these questions. They say it's private. And that's the reason why they are still poor.
Sex with the same person for the remainder of your life would be too mundane and boring. A good spouse should let their partner have sex with others, variety is the spice of life
@@mbank3832 then just don't get married, why expose your spouse to a risk of STDs? Many of those you can get even when using barrier contraception and a handful of them cause cancer (lung, cervix) and infertility.
Hi Rose! I'm glad to stumble on your video. Would love to see partitions in the actual video so I can move around freely on my own time. To fellow viewers, to save time, here is the list :) 1. Not Curating Your Inner Circle 2. Buying More than you can afford 3. Loyalty Tax 4. Not Earning what you are worth 5. Pay all your taxes 6. Relying on One Income Stream 7. Credit Score 8. Spending Before you save
We're have reached a point in time that more and harder work will negatively affect you. Isn't it just sick that people have to take on two or more jobs to just get by?
She doesn’t attribute so much of her success with being “lucky” enough to network with a super wealthy professor/real estate investor early on. I’ve learned that success isn’t about working hard or even being particularly good at your job. It’s being able to use connections to keep moving up. And that is absolutely not accessible to everyone and kind of sucks.
@@GangstarComputerGod Every three or so years one needs a different challenge, not necessarily out of your cz but a step left or right or even up or down. This keeps you learning and you don't become furniture. It also allows for different views and approaches, dynamics. Getting out of your cz (comfort zone) was hip 'n happening for a while but I witnessed good engineers fall into the managers trap. They burnt out or quit their job.
@GangstarComputerGod You don't need connections to be wealthy though. You can easily start a business online or start making money off a skill that you are proficient at. Use social media to build and grow an audience. You can stay home all day and start making thousands so no, success is absolutely not based on connections at all.
The day before I left Hong Kong for Switzerland, I got a call from a friend of mine. She's a senior managing director at a bank and she told me she’d been fired and couldn’t make it to my farewell party. That moment really opened my eyes. No matter how high you climb on the corporate ladder or how loyal you are to your company, you’re still just a cog in the machine. It drove home the point that if you stick with a middle-class mentality and don't prepare ahead, you could find yourself in a tough spot real fast. Made a similar video on this topic. Welcome to check out❤❤
Some of these feel unrealistic to obtain but like you said it's never too late to start. Feeling inspired cause living paycheck to paycheck is chipping at me and my job gave me a laughable "raise" (like .24cents) .....I deserve more! Thanks for the tips.
Yeah, I used to feel that way too and found if you just start, no matter how small, it grows faster than you think, especially if you don't look. It makes a HUGE difference.
I like when Rose talks. It's like she's the sister who keeps you in check. I like when she raises her voice in a "What the hell are you doing!?!?!! Stop that! Change that!" (you've done that in your other videos) Thanks for this video!
Can I just say THANK YOU! Being a first generation student and the oldest sister in my family, Ive always had the pressure of paving the way for my younger siblings and it hasn't been easy. I've been watching all of your videos and I'm so thankful for all the information you've shared. I feel confident of being the generation in my family to break bad habits and create generational wealth 🤞 Im on my last chapter on Rich Dad Poor Dad book and plan on starting The Intelligent Investor next because I have a 401k that I'm still trying to figure out what to do with. But thanks again for the inspiration! 🙂
The thing is, most of us are lower class. So here's a list of lower class habits that keep you poor: - having poor parents - not getting good education - doing the important work that doesn't pay well - being unemployed because of poor health - living in an increasingly expensive and uninhabitable world Just try to get rid of these habits and then congratulations, you're middle class and now qualify for this video!!
@@primadonna82 I think so, too, but my Korean friend seems to be in the “works like dogs 🐕’ camp. Now ask me what the Chinese visiting scholar told me on a Saturday night at the computer 💻 lab!
@@primadonna82 “You work VERY hard for an American!” She pointed out that I was the only non-Asian in our library’s computer lab that evening. Now ask me about the Korean graduate student at the library’s coffee shop!
They should be teaching this stuff in high school. So many young people come out of college with no clue how to manage money, no matter how much or little they make...
Years of health class and PE didn’t stop the rise of obesity. Sexual education hasn’t slowed teen pregnancy or reduced STDs. Science classes galore and we still have anti-vaxxers and people refusing to wear masks during a pandemic. We’ve spent centuries leading the horses to water, only to have them wander off in search of poison Kool-Aid. Teaching financial literacy is not the answer.
So many of these video talk about how to go from broke to being a millionaire and talk about investing in real estate and multi thousand dollar investments. So thank you for actually speaking to people to work hourly making less than 3K a month and having to spend a third of that on rent
If you can layer all that and be happy, that's the ideal. I go for happiness and combine it with minimalism, saving and investing in agreeable ways that create several income streams. But happiness is the key and building on that in the way that's right for each person.
I wish TH-cam and Rose were around when I was younger! Your videos are informational and inspiring, even at my "oldish" age of 57. When I was young, this kind of stuff was never talked about, ever! In fact, my parents one bit of advance was to save your money in a typical savings account. They meant well but they too had no clue. I'm mystified that this sort thing isn't taught in every middle /high school.
Financial Literacy SHOULD SHOULD SHOULD be include in High School. How to play Football? Taught! How to understand and best pay off debt? Don't bother!
Just found your channel with this video! If every 22 years old think like you we won’t have the problems we have right now! I can not imagine how far ahead you will be when you are 50 or 60 years old! Too smart a girl 🙏Subscribed
There seemed to be a 'loyalty' tax on renting housing, too. If you stayed in one place, they just kept raising the rent steadily every time your lease is up. I usually had to move after two lease renewals to find a better place for less rent. Sometimes only after one renewal.
Problem with that is EVERY landlord is raising the rent no matter where you go. Plus, do you want to have to keep moving every other year indefinitely? Sounds great when you're young until you get older.
I think the system broke when corporations learned they could get richer and richer by squeezing out their customers and employees. Back in the 50s a person with a regular job could afford a house, a family of 4 and 3-5 cars in their life span; Nowadays to buy an average new car $45.000 not even $100.000 a year is enough not to break the 10% rule, this has to stop.
Lots of good money tips here. 1 reminder for the lady is that houses usually go up in value while autos almost always drop. So they really shouldn't be lumped together. It's much better to overpay on a mortgage than it is a car. The house goes up in value and the car or truck drop in value
The taboo surrounding money talk is because most people are surrounded by either middle class almost on poverty line people or middle class that has enough to live well but not enough to spend or middle class people who have just a little to splurge once in a while. That makes money talk very uncomfortable because people are holding on to their money tightly, and speaking about it if you have less will make people either pity you or break apart from you. While if you have a little more than the people around you it will create envy or people will pester you about money because they have less. Yes, many can say, just cut away with those relations then! But many of those people are your family, so what will you do? In example, I have a friend whose sister just had a baby, she's middle class on border with poverty, so when they talked about money her sister realized that my friend, and her husband make more money than her, not only that, they are childless so there's one less person to spend their money on every month. Until the money conversation my friend and her sister were as tight as finger and nail, very close, very endearing relationship. But from the money talk then on my friend's sister calls her all the time to ask for money or to try and sell her things (she's in an MLM). When my friend refuses, her sister immediately accuses her of being selfish because she has the money, and that it's her duty to help because they are family, and she has to think of her nephew. Now my friend doesn't pick up the phone, and can't even spend family holidays with her sister and the rest of their family, because, of course, her family is on the sister's side. Pay mind that my friend is middle class that lives well, but doesn't have much to splurge, she travels maybe once every 3 years and because she and her husband save. Not only that her husband was unemployed for over two years, and only recently got a good job. This is the reality of why people do not talk about money. People that talk about money are not in the middle class, they are rich people with assets, numerous savings, and more than one income, people who have money to invest, and splurge. They sre comfortable to speak about money with each other because they have the mindset that they can recover any money they lose, and can always make money, they see money as a tool, not a means for survival. Most people do not have that mindset. So you either cut away all of your friends, and family, and find new friends that you can talk about money with, or do not talk about money. You can also keeo your family and friends and get some other friends who you can talk about money with，but that will imply you most control yourself about what you talk and with who, again, a lot of people can't do that.
Most cars worth $10k or less have over 100,000 miles on them these days. Before you downgrade to that cheaper used car, remember that you will likely see repair bills in the thousands within a short amount of time. That will equal like an entire year of those $132 car payments in a short amount of time. Getting a good lease on a new car is often the way to go if you can keep miles down. Look for the low down payment leases. Then buy it out at end of lease and upgrade every few years or get a new lease. Don't buy cars that depreciate quickly. I find that values on reliable cars with low mileage (like Toyotas, Hondas) are often hugely inflated, so it is a better idea to just buy it new.
I am now in the market for a car after the one I had that was paid off was totaled; I was not at fault. This couldn't have happened at a worse time because the car market is trash and that leads me to disagree with your statement of buying a $10,000 car. Those days are gone with the average, reliable (to me, American cars are THE most unreliable and less fuel efficient) USED car with low miles hovering around $20-30k and most dealers are not budging...its the greed. I'm hearing/reading there's no car payments less than $500/mo and if you live in a city without efficient mass transit like I do, you're screwed and my credit is good. So, unless you're putting a huge amount down to lower those monthly payments, its very hard out here.
I'm weird in my circle but I'm also comforrtable with that. I discuss money easily, like its the weather but not many of my friends do. I'm also the only person who won't get a car loan, lives a bit further out and contributes 20% to retirement.
Rose! I wish you were here telling me all this in my 20s. I have man children now aka college kids and I’m telling my 2 sons how to manage their finances since they were bout 8. Thx for all you do!
Talking about s3x and money in a healthy way is really important and good. You never learn and never evolve if you don't talk about it or make it a taboo
11:00 your boss doesn't care about what you accomplished for the company. If anything, it will offend them. The "performance review" process is there to tear you down and feel undeserving of making money.
While agree with living below your means and not financing expensive things, it’s become very very difficult to keep “needs” as 20-30% of your income. These are costs that have skyrocketed everywhere. There is a reason something is “needs” vs “wants.” And most people have little control over things like food, gas, and shelter. It’s no coincidence those three things have inflated massively and continue to rise.
Great info Rose! I would like to add two sub-tidbits to your list. 1. When most people buy a larger home and/or a fancier car, they forget the phantom costs associated with them. A larger home means more furniture to buy, as no one wants partially empty rooms. Also, higher property taxes, insurances, and utility bills. A fancier car means more insurance cost and costly premium gas. I have friends who proudly drive high-end Benz and BMW cars but struggle to cover the premium gas it’s needs. 🤦♂️ 2. Earned income; aka ticker symbol JOB, is the highest taxed because it’s guaranteed. If one shows up for work and do the work, one gets paid. Capital gains are taxed much lower because there is some form of risk(s) involved. An investment not only can go up but also down. With such risk, taxes are reduced. In Canada, capital gains are taxed 50% at one’s income bracket. For example, if I make 100.00 at my JOB @ 30% tax bracket, I take home 70.00 and pay 30.00 in taxes. If I make 100.00 in capital gains in a stock, I am taxed on 50.00 (100.00 x 0.50) @ 30%, I take home 85.00 and pay 15.00 in taxes. Despite the latter has more risk, it is rewarded more, and has more freedom.
@@lizaaggad2191and its also not possible for everyone to be a millionaire. Fir rich people to be really rich, there need to be a lot of other people to be really poor
@@user-kd7ch1be6u could you go further with your reflexion? In my point of view becoming rich is a way of creating work for poor people thus giving money for them
The internet and TH-cam has so many fake it until you make it channels. I paid off my house and cars with just saying no to status junk. I drive a jeep when most in my category would buy a Range Rover or Tesla. I cook my own meals and rarely eat out. I travel to foreign places where my dollar gets the most. bang.
You’ve made some very good points in this video! With that said, I like to compare it to losing weight or staying in shape. Most will give it their best shot and maintain it for a short period of time and life gets in the way and quit.
Some things cannot be simply put to "it takes you to Point A to Point B". Especially for cars, there are a lot of emotions going on that make you buy bigger and "better" cars. Same with other WANTS like travel, housing etc.
Middle class is an attitude, a state of mind, not an amount of income or assets. Though it is not very middle class to go in to debt for the sake of consumption.
Everything you do is what I’m striving to do; camper-van to travel, real estate investing, getting out of middle class habits… I’m an oncoming college student. I graudate highschool in less than a month and I am so scared. Everything about my future scares me. I want to be successful but I also want to be happy. I don’t want to work my whole life and then die. I want to live in my youth, not once I’m done working. I’m seriously so scared.
so brilliant! we're hardly ever taught such concepts back in school, I'm a uni student and the goal is to get rich and make heavy bucks. How? no one taught ever haha ironically. Thanks for this! biggest take away is definitely to work on passive incomes and have multiple income streams!
I literally am beyond happy stumbling on your page. Thank you so much!!! Have a blessed day !! I plan to continue spreading your knowledge you provided here to all people ☝️🙏🏽😊
Lol. Love it Rose. My circle is always discussing investment opportunities and business ideas. I drive my wife nuts since she says that’s all I discuss with my friends
10:06 two things, first and foremost thank you for bringing that point up about self worth. I tell people to drum it into your brain that you're not replaceable
My biggest flex is being able to buy whatever I want but not needing it. I’m happy to be debt free and being able to put away a decent amount of my earnings into my investments every paycheck.
When it comes to cars: Most modern cars are good enough even for billionaires. Anything out of the ordinary will attract attention and you are no longer anonymous on the road. I think that is why they chose ordinary cars: It is not to save money.
Excellent point about the impact of one's inner circle on financial success! It's also vital to continuously upgrade our financial education to make informed decisions that align with long-term wealth building, rather than just short-term gains. 👍
I saw a Short on TH-cam a while back that changed my perspective fundamentally. I guy talked about how he bought a hotel for 20M, refinanced the loan for 30M and put that 10M into his own pocket tax free. Now this guy technically isn't rich, he is in debt - but regarding his lifestyle, it doesn't matter. It was in this instant that for the first time I truly understood the movie line from Gordon Gecko: "I create nothing. I own." Wanna be rich? You'll NEED to play "money games"!
Charlie Munger said leverage is the number one way to go broke. I think the number one principle to adapt is to understand the average person needs time to do the work. Running teams, businesses, processes are stressful and not for everyone.
TH-cam algorithm somehow led me to this. Obviously, it seems to know that I'm a middle class salary man who working my ass off for my family without thinking too much on savings haha. Anyway, this is a great video and some part of my brain started seeing the light after this video. Thanks Rose.
Without any formulas, living frugal and investing for a decade will change things around. Those trips to all inclusive resorts and Europe only enriches us culturally if anything but not financially.
Working hard will help you to develop discipline. If you keep working and don't give up you will overcome difficulties until undisciplined and lazy people will act like victom. Of course, working smart is important (thinking outside of box). If we combine working hard and smart we can achieve great result.
People that dont have the same goals as you will pull you down. They dont want to see you thin, happy,’wealthy, and doing better than them. So if youre hanging out with people that are thin happy and wealthy its impossible for them to pull you down
#1 Set yourself up for success. #2 Save more than you spend, spend on what you can afford, and reuse what you can. #3 Use tools, opportunities, and invest to your advantage. #4 Know your value and curate your portfolio. #5 Lower your expenses or their cost. #6 Have multiple income streams. #7 Own less or only what appreciates and owe less. #8 Invest wisely in yourself.
Another awesome video Rose! #1 is for sure how individual/fearful/careless vs together/fearless/careful your financial journey is. When I became aware of Bitcoin and learned a ton about it, I was pretty sure Bitcoin was going to be adopted as digital gold over time back when it was $3K a coin. Almost everyone around me is/was unhealthy negative skeptical, uninterested, or uneducatedly emotionally only caring about getting rich quick. I unfortunately invested hardly anything into Bitcoin back then and missed out on retiring early to be able to focus full-time on striving to unite society spiritually, psychologically, and financially in my peak human years. Basically, for almost all things in life...the most effective humans are ones that are united...whether for good or evil.
Stay at home (or lots of roommates). start working a trade at 16. Buy a small home at 20. Don’t move in. Rent, flip, or Airbnb. Repeat. If your parents have a college fund go somewhere for cheap or part time and combine with plan above.
Growing up, we didn't talk about money, politics, or religion. What I learned about money is a) we didn't have any, and b) we couldn't afford whatever it was. I lived in a poverty mindset for decades, to where now, in retirement, I don't want to spend money, even though I can.
I'm 38 and while I've always been great at saving, I never invested or thought about retirement. I started out broke at 28 and moved into a cheap condo. Over the years, the combination of living below my means and incremental raises at work allowed me to save up 200k. With that, and selling my condo for 90k, I purchased a house in cash. No debt as I hate having it and avoid like the plague. Not long after, I received an inheritance for an additional 300k. I'm now just starting to look into investing in both retirement and brokerage accounts. I'm kicking myself because if I had done that earlier I'd have quite a bit more money now, but I think I'm in a good place regardless. I just calculated my net worth and am right under 1 million, so while the 300k did help, alot of it was just being frugal and saving everything I could.
Poor people habits
1. Not curating your Inner circle
2. Buying more than you can actually afford
3. Working hard. Not working smart
4. Not earning what you are worth
5. Pay all your taxes
6. Relying on one stream of income
7. Using credit score as an indicator of wealth instead of networth
8. Spending before you save
FACTS
MVP 🏆
Love yaaa
"earning what you are worth" is the hardest one for people I think. It took me way too long to quit a job that simply wasn't interested in promoting me or giving me raises because I didn't want to leave my coworkers. Then I left and doubled my salary to do less work at another company, and every minute of every day I wonder to myself "why didn't I do that sooner?" Great video
WOW thanks for sharing that! people here who find it hard to "earn your worth" will feel inspired hearing this from you!
@@itsrosehan in retrospect you like your decisions to move to Mexico City?
I've had this very issue in my business which is really holding me back, but I am working on it
Can't thank you enough for sharing your experience, I'm planning to quit my job next july
What's your job title?
Took me halfway thru the vid to realize that this video is a complete spark notes of Rich Dad Poor Dad.
I noticed it at minute 1.30.. anyway, it's not bad to refresh it
I noticed it at 1:11 😅😅
That is most financial videos these days.
It's her favorite book and she has recommended it many times 😊
Rich dad is bankrupt and has too many league issues.
Once I stopped eating out and streamlining my diet and fasting, I started saving a lot of money.
Start photosynthesis bro
@@rabapatrick8906 Nice😁
How did you streamline your diet?
that's a good point.
what she's saying about houses and leverage and inner circle is so naive that makes me think she's been paid (by the rich)
I just read The Asian Diet by Jason Bussell...has great merit for a balanced life. It is not a weight loss book. I hope to follow the book when my debts are further reduced.For now I literally live on beans that I soak/both brown and white rice, greens supplements powder, D3 K2 vitamins, self-rising flour to make homemade tortillas....a food shelf 3 times in a year$30 month..After 2 years I added whatever is cheap fruit that season, cucumbers (daily), spinach..$45 mo. I eat about 3 cups of food a day. Instead of a candy bar, I buy a bag of milk chocolate baking chips for $2.20 I have paid off $27,000 in 3 years...Still more to go on my 0% balance transfer
Loyalty tax is 200% correct!!! Never stick around in the same place for more than 3 years!!!! Learnt it the hard way. Thanks.
Expecting to succeed and have everything at 22? High ambitions for a young age!
Wish I'd have figured out half these things when I was as young. Well done you!
It helps to have rich parents
I'm a 25 french engineer with a above average salary and i cant afford a house
Our generation doesn't have the choice but to look up and grind to get a decent life and freedom
She never said that? She switched behaviors in her 30s
It makes my laugth hahahahaha
@@plyrni3noo dont be like this... i just got my home at 28, you are too young.
Rose is the entire reason I was brave enough to learn about financial freedom and implement investment strategies. I came from a very low class family (albeit a loving one!) However, I swore that my kids wouldn't live like that. I started late and they are teenagers now but I am working hard to teach them about savings and investing in their future so they don't have to grow up a prisoner of their paychecks. THANK YOU ROSE, for not gate keeping all the juicy info! ❤
all it takes is one courageous person to create a WHOLE NEW financial reality for the family. you go girl!!!
Here it is: PAY YOURSELF FIRST. That is the most important habit.
Pay rent or loan after due date, always
yeah don’t worry, your bank and landlord a super chill when you default on your monthly payments
ALWAYS buy high and sell low!
Pay rent and mandatory expenses first (a few bucks on EMS fund and savings should be mandatory), then pay yourself, you’ll feel better :)
Paying yourself is very important but let's not kid ourselves. Bills must always come first. There is no need to pay extra late fee for things like rent, car, utilities because you decided to treat yourself first. It should be Mandatory Expenses > Pay Your Self > Savings
The inherent problem with these videos is the point is supposed to be "you too can be rich" but it's logically impossible for everyone to be rich. Rich is a relative term.
Not really. One person owns more wealth than 60% of people so that one person could literally improve the lives of majority if we banned that from existence. It's not hard to see the rich are the issue
@@Dgnmusecommunism
@@foreveryoung999 no it's capitalism actually and it's late stage. One person owning majority of the world's money is sickening and not something to view as proper.
Very true
I agree, but not everyone will be because they aren’t ambitious enough and have too much pride to be coached. Are you like that?
The Millionaire Next Door is one of the best books I’ve read on money management
Are you already millionaire? Just to know if it worth a try...
@VirginiaMurdocco this one stranger on the internet has to be a millionaire just for you to read a book?
I have a wealthy aunt and uncle in Southern Ca who are getting a museum being named after them. How did they become Billionaires? They worked smart. They rented stuff out which exponentially duplicated their time. Company/income grew and diversified their real estate portfolio. They never complained and WORKED AS A TEAM. I am proud of them.
This sounds wonderful! I loved the part that they worked as a team. Thanks for sharing this bit
I am convinced that the taboo around speaking about money was created by the uppers to keep the lowers poor and in the working class. Financial visability is key, ive started talking about money to all my friends and family, some feel uncomfortable but thats ok they dont have to share their income or anything, Its still nice to be transparent about mine.
that's very brave and forward-thinking of you... keep doing that and it will make a difference in your circle for sure!
I was thinking the same way but noticed the envy in people surrounding me. Friends for 15 years started looking at my expenses and salary... keep that in mind.
I think talking about money is like talking about your health. You don't have to share your weight or hdl ldl but you can discuss how you take good care of it in general. How's your diet working or what's not working, listen to others tips etc
The reason I don't is because of jealousy. You can only talk about money with people who have exceeded a certain threshold. Otherwise they will just think you're bragging and they won't bring anything to the table in terms of sharing their own strategies because they don't have any.
Yeah I always thought it was super weird how people felt uncomfortable discussing their finances. I mean I guess if some people feel ashamed that they earn a low income?
i was taught to spend, spend, spend until nothing left except a huge steaming pile of debt, then my mom went broke and had to get a second mortgage on our house just to have lower interest on her credit card debt. After I saw her struggles I have always done my best to save as much as I can and NOT max out my credit cards. I actually dont have one anymore. If I will be paying someone 18-30% interest I would much rather be earning that some way. Love the brag file as well. Thanks for this video Rose.
yes, financial habits tend to get passed down in families and it's up to us to break any bad ones! good on you for doing that!
i had no idea how to make money as i had always worked in operations , we just get orders done. At the age of 43 i don't see money in my bank as every months pay day was also paying debt day . I quit the job at 43 bcoz i was unhappy , went into a small business and at 50 years of age I'm financial free . My investment dividends pay 2 times more then my job as operations manager . Thank you Universe for steering my path
1. Being around rich people - Unfortunately, no unless watching TH-camr’s counts. 👎
2. Credit cards - The only reason I use credit cards is to get cash back rewards. I always pay them off, not every month, more like every week. I have no significant debt. 👍
3. Work hard - Not really, my working hours went down last year while my income went up. 👍
4. Being quiet at work - I am the quite type so yeah, fail on this one.👎
5. Taxes - Yeah, I ended up with a significant tax bill this year.👎
6. Single income stream - I have three, my job, dividends, and bank interest 👍
7. Credit score - yes, I have a fantastic credit score. I track net worth about once a year and yes, it is definitely going in the right direction.👍
8. Spending before you save - Nope, I save 5 percent automatically in a high interest savings account, then 10 percent to investing. At the end of every month, I invest what wasn’t spent. No joke, investing ends up being my top expense category most months. 👍
Great video, thanks.
looks like you're doing amazing! and yes i'd say watching TH-camrs counts!! although there's nothing like real-life connections too
@@itsrosehan You did not mention YOU sold stuff (maybe courses sound familiar?) .... And you kept your channel instead of starting over which again allows you to sell us to watch.....
Thank you for this list. I came to the comments just for this. And great job relating the list to how your life is in real time.🎉
@@itsrosehan Thank you so much for a personal response and glad to know watching TH-camrs counts. I have learned quite a bit watching you and other financial TH-camrs.
@@Nwakaego_ You're welcome.
For some reason we think it's taboo to talk about money and sex. Never ask what's happening in someone's bedroom, but there's nothing wrong with talking about sex in general. The same with money. Never ask "how much", but it's OK to ask someone what percentage of their income they save towards retirement. People freak out when you ask these questions. They say it's private. And that's the reason why they are still poor.
Well since everyone is talking about money these days, how about sex? How much sex is normal for a married couple?
Sex with the same person for the remainder of your life would be too mundane and boring. A good spouse should let their partner have sex with others, variety is the spice of life
Wow
💰ex
@@mbank3832 then just don't get married, why expose your spouse to a risk of STDs? Many of those you can get even when using barrier contraception and a handful of them cause cancer (lung, cervix) and infertility.
Hi Rose! I'm glad to stumble on your video. Would love to see partitions in the actual video so I can move around freely on my own time.
To fellow viewers, to save time, here is the list :)
1. Not Curating Your Inner Circle
2. Buying More than you can afford
3. Loyalty Tax
4. Not Earning what you are worth
5. Pay all your taxes
6. Relying on One Income Stream
7. Credit Score
8. Spending Before you save
I'm still poor, but I know the reality is more than you provide in this video
We're have reached a point in time that more and harder work will negatively affect you. Isn't it just sick that people have to take on two or more jobs to just get by?
She doesn’t attribute so much of her success with being “lucky” enough to network with a super wealthy professor/real estate investor early on. I’ve learned that success isn’t about working hard or even being particularly good at your job. It’s being able to use connections to keep moving up. And that is absolutely not accessible to everyone and kind of sucks.
@@GangstarComputerGod Every three or so years one needs a different challenge, not necessarily out of your cz but a step left or right or even up or down. This keeps you learning and you don't become furniture. It also allows for different views and approaches, dynamics.
Getting out of your cz (comfort zone) was hip 'n happening for a while but I witnessed good engineers fall into the managers trap. They burnt out or quit their job.
At last check Buffet drives a Cadillac. But I get it.
@GangstarComputerGod You don't need connections to be wealthy though. You can easily start a business online or start making money off a skill that you are proficient at. Use social media to build and grow an audience. You can stay home all day and start making thousands so no, success is absolutely not based on connections at all.
The day before I left Hong Kong for Switzerland, I got a call from a friend of mine. She's a senior managing director at a bank and she told me she’d been fired and couldn’t make it to my farewell party. That moment really opened my eyes. No matter how high you climb on the corporate ladder or how loyal you are to your company, you’re still just a cog in the machine. It drove home the point that if you stick with a middle-class mentality and don't prepare ahead, you could find yourself in a tough spot real fast. Made a similar video on this topic. Welcome to check out❤❤
this
嘩！野生捕獲香港人 sls ：）我而家去睇你條片 ；）
@@gwai-lo❤❤❤多謝sai
Some of these feel unrealistic to obtain but like you said it's never too late to start. Feeling inspired cause living paycheck to paycheck is chipping at me and my job gave me a laughable "raise" (like .24cents) .....I deserve more! Thanks for the tips.
Yeah, I used to feel that way too and found if you just start, no matter how small, it grows faster than you think, especially if you don't look. It makes a HUGE difference.
Great Video! "Trading is the hardest way to make easy money! But once you learn the skill you can and will change your life!"
I like when Rose talks. It's like she's the sister who keeps you in check.
I like when she raises her voice in a "What the hell are you doing!?!?!! Stop that! Change that!" (you've done that in your other videos)
Thanks for this video!
😆 that’s what I’m here for
Can I just say THANK YOU! Being a first generation student and the oldest sister in my family, Ive always had the pressure of paving the way for my younger siblings and it hasn't been easy. I've been watching all of your videos and I'm so thankful for all the information you've shared. I feel confident of being the generation in my family to break bad habits and create generational wealth 🤞 Im on my last chapter on Rich Dad Poor Dad book and plan on starting The Intelligent Investor next because I have a 401k that I'm still trying to figure out what to do with. But thanks again for the inspiration! 🙂
The thing is, most of us are lower class. So here's a list of lower class habits that keep you poor:
- having poor parents
- not getting good education
- doing the important work that doesn't pay well
- being unemployed because of poor health
- living in an increasingly expensive and uninhabitable world
Just try to get rid of these habits and then congratulations, you're middle class and now qualify for this video!!
Ha ha, you made me remember what a Korean friend in graduate school told me! “We’re really not smart. We just work like dogs!” 😊
🤣🤣
Yes, we work like dogs, AND we're smart too.
@@primadonna82 I think so, too, but my Korean friend seems to be in the “works like dogs 🐕’ camp. Now ask me what the Chinese visiting scholar told me on a Saturday night at the computer 💻 lab!
@@danielvillarreal6610 scared to ask. What did he/she say?
@@primadonna82 “You work VERY hard for an American!” She pointed out that I was the only non-Asian in our library’s computer lab that evening. Now ask me about the Korean graduate student at the library’s coffee shop!
They should be teaching this stuff in high school. So many young people come out of college with no clue how to manage money, no matter how much or little they make...
Years of health class and PE didn’t stop the rise of obesity. Sexual education hasn’t slowed teen pregnancy or reduced STDs. Science classes galore and we still have anti-vaxxers and people refusing to wear masks during a pandemic. We’ve spent centuries leading the horses to water, only to have them wander off in search of poison Kool-Aid. Teaching financial literacy is not the answer.
They don’t teach it in high school for a reason…
@@jutman17761because we are too busy teaching the basics as teaching to the test takes up the majority of the year 🙄
Who controls the board of education? The rich…
@@hiroxmedia9856 you mean the voters of the district 🙄
"Brag File" is a great idea . Keeps one seeking projects to solve problems and the documentation is good on a resume 🧠
Paying myself first is a huge game changer.
Middle class habit number 9: earning less than 7 figures a year
So many of these video talk about how to go from broke to being a millionaire and talk about investing in real estate and multi thousand dollar investments. So thank you for actually speaking to people to work hourly making less than 3K a month and having to spend a third of that on rent
Unpopular opinion; Not everyone shall die rich and wealthy.
It's logically impossible for everyone to be rich, because then rich wouldn't mean anything.
@@aluisious it would still why wouldn't it
Not everyone is watching videos like this
@@nolitimere11 sure
It's not unpopular though. Everyone knows this
This is encouraging that I am in the top 90%. In my 40s with no debt..Dave Ransay was helpful too. Thanks Rose!!!!
Thank you Rose for your wisdom; it's valued-
If you can layer all that and be happy, that's the ideal. I go for happiness and combine it with minimalism, saving and investing in agreeable ways that create several income streams. But happiness is the key and building on that in the way that's right for each person.
Please breathe. Just sometimes. I’m exhausted!
I wish TH-cam and Rose were around when I was younger! Your videos are informational and inspiring, even at my "oldish" age of 57. When I was young, this kind of stuff was never talked about, ever! In fact, my parents one bit of advance was to save your money in a typical savings account. They meant well but they too had no clue. I'm mystified that this sort thing isn't taught in every middle /high school.
Financial Literacy SHOULD SHOULD SHOULD be include in High School.
How to play Football? Taught!
How to understand and best pay off debt? Don't bother!
You always motivate me to do better with my finances.
Just found your channel with this video! If every 22 years old think like you we won’t have the problems we have right now! I can not imagine how far ahead you will be when you are 50 or 60 years old! Too smart a girl 🙏Subscribed
There seemed to be a 'loyalty' tax on renting housing, too. If you stayed in one place, they just kept raising the rent steadily every time your lease is up. I usually had to move after two lease renewals to find a better place for less rent. Sometimes only after one renewal.
Problem with that is EVERY landlord is raising the rent no matter where you go. Plus, do you want to have to keep moving every other year indefinitely? Sounds great when you're young until you get older.
I think the system broke when corporations learned they could get richer and richer by squeezing out their customers and employees. Back in the 50s a person with a regular job could afford a house, a family of 4 and 3-5 cars in their life span; Nowadays to buy an average new car $45.000 not even $100.000 a year is enough not to break the 10% rule, this has to stop.
if you are poor drop everything you're doing and find an ebook titled the hidden truths of wealth, trust me on this
Where did you find it?
Borlest ( I found it there, maybe it still exists there )
Author? Different ones come up
@@matthewthompson0 I found it there, thank you!
Source: trust me, bro
I saw your vids on index funds a few years back. Thanks for the inspiration.
"It almost seems unfair" because IT IS UNFAIR. The super wealthy should not be granted such loopholes over everyone else, specially those struggling.
The super wealthy shouldn’t be penalized by a tyrannical govt just because they’re wealthy.
Lots of good money tips here. 1 reminder for the lady is that houses usually go up in value while autos almost always drop. So they really shouldn't be lumped together. It's much better to overpay on a mortgage than it is a car. The house goes up in value and the car or truck drop in value
The taboo surrounding money talk is because most people are surrounded by either middle class almost on poverty line people or middle class that has enough to live well but not enough to spend or middle class people who have just a little to splurge once in a while.
That makes money talk very uncomfortable because people are holding on to their money tightly, and speaking about it if you have less will make people either pity you or break apart from you. While if you have a little more than the people around you it will create envy or people will pester you about money because they have less.
Yes, many can say, just cut away with those relations then! But many of those people are your family, so what will you do?
In example, I have a friend whose sister just had a baby, she's middle class on border with poverty, so when they talked about money her sister realized that my friend, and her husband make more money than her, not only that, they are childless so there's one less person to spend their money on every month. Until the money conversation my friend and her sister were as tight as finger and nail, very close, very endearing relationship. But from the money talk then on my friend's sister calls her all the time to ask for money or to try and sell her things (she's in an MLM). When my friend refuses, her sister immediately accuses her of being selfish because she has the money, and that it's her duty to help because they are family, and she has to think of her nephew.
Now my friend doesn't pick up the phone, and can't even spend family holidays with her sister and the rest of their family, because, of course, her family is on the sister's side.
Pay mind that my friend is middle class that lives well, but doesn't have much to splurge, she travels maybe once every 3 years and because she and her husband save. Not only that her husband was unemployed for over two years, and only recently got a good job.
This is the reality of why people do not talk about money. People that talk about money are not in the middle class, they are rich people with assets, numerous savings, and more than one income, people who have money to invest, and splurge. They sre comfortable to speak about money with each other because they have the mindset that they can recover any money they lose, and can always make money, they see money as a tool, not a means for survival.
Most people do not have that mindset. So you either cut away all of your friends, and family, and find new friends that you can talk about money with, or do not talk about money. You can also keeo your family and friends and get some other friends who you can talk about money with，but that will imply you most control yourself about what you talk and with who, again, a lot of people can't do that.
Most cars worth $10k or less have over 100,000 miles on them these days. Before you downgrade to that cheaper used car, remember that you will likely see repair bills in the thousands within a short amount of time. That will equal like an entire year of those $132 car payments in a short amount of time. Getting a good lease on a new car is often the way to go if you can keep miles down. Look for the low down payment leases. Then buy it out at end of lease and upgrade every few years or get a new lease. Don't buy cars that depreciate quickly. I find that values on reliable cars with low mileage (like Toyotas, Hondas) are often hugely inflated, so it is a better idea to just buy it new.
"Thank you, Rose. You're the best. Keep up with the motivational speeches. You're damn good."
Why did you quote this lol
Thanks for this. Really motivated me to move away from Big 4 and try to find another firm that takes my wellness seriously.
Worst middle class habit is not taxing the rich.
Well, the middle class and working poor vote against their own interests all the time.
Need more Blcktken300 content. Converted my ETH to BTC but kept my Blcktken300
That's a solid list! I'm also big on Blcktken300 , avalanche, algo, and matic too.
I am now in the market for a car after the one I had that was paid off was totaled; I was not at fault. This couldn't have happened at a worse time because the car market is trash and that leads me to disagree with your statement of buying a $10,000 car. Those days are gone with the average, reliable (to me, American cars are THE most unreliable and less fuel efficient) USED car with low miles hovering around $20-30k and most dealers are not budging...its the greed. I'm hearing/reading there's no car payments less than $500/mo and if you live in a city without efficient mass transit like I do, you're screwed and my credit is good. So, unless you're putting a huge amount down to lower those monthly payments, its very hard out here.
I'm weird in my circle but I'm also comforrtable with that. I discuss money easily, like its the weather but not many of my friends do. I'm also the only person who won't get a car loan, lives a bit further out and contributes 20% to retirement.
Rose! I wish you were here telling me all this in my 20s. I have man children now aka college kids and I’m telling my 2 sons how to manage their finances since they were bout 8. Thx for all you do!
Talking about s3x and money in a healthy way is really important and good. You never learn and never evolve if you don't talk about it or make it a taboo
Blcktken300 gang in the house! Thanks for the analysis!
11:00 your boss doesn't care about what you accomplished for the company. If anything, it will offend them. The "performance review" process is there to tear you down and feel undeserving of making money.
This is an excellent video. Being taught to be modest isn't racist.
While agree with living below your means and not financing expensive things, it’s become very very difficult to keep “needs” as 20-30% of your income. These are costs that have skyrocketed everywhere. There is a reason something is “needs” vs “wants.” And most people have little control over things like food, gas, and shelter. It’s no coincidence those three things have inflated massively and continue to rise.
Great info Rose! I would like to add two sub-tidbits to your list.
1. When most people buy a larger home and/or a fancier car, they forget the phantom costs associated with them. A larger home means more furniture to buy, as no one wants partially empty rooms. Also, higher property taxes, insurances, and utility bills. A fancier car means more insurance cost and costly premium gas. I have friends who proudly drive high-end Benz and BMW cars but struggle to cover the premium gas it’s needs. 🤦♂️
2. Earned income; aka ticker symbol JOB, is the highest taxed because it’s guaranteed. If one shows up for work and do the work, one gets paid. Capital gains are taxed much lower because there is some form of risk(s) involved. An investment not only can go up but also down. With such risk, taxes are reduced. In Canada, capital gains are taxed 50% at one’s income bracket. For example, if I make 100.00 at my JOB @ 30% tax bracket, I take home 70.00 and pay 30.00 in taxes. If I make 100.00 in capital gains in a stock, I am taxed on 50.00 (100.00 x 0.50) @ 30%, I take home 85.00 and pay 15.00 in taxes. Despite the latter has more risk, it is rewarded more, and has more freedom.
Everything is correct, but it’s not that simple.
If it was, everyone would be millionaire
@@lizaaggad2191and its also not possible for everyone to be a millionaire. Fir rich people to be really rich, there need to be a lot of other people to be really poor
@@user-kd7ch1be6u could you go further with your reflexion? In my point of view becoming rich is a way of creating work for poor people thus giving money for them
The internet and TH-cam has so many fake it until you make it channels. I paid off my house and cars with just saying no to status junk. I drive a jeep when most in my category would buy a Range Rover or Tesla. I cook my own meals and rarely eat out. I travel to foreign places where my dollar gets the most. bang.
Am rich, can confirm she's right. Mostly invested like crazy. Now I can waste time listening to random TH-cam recos.
You’ve made some very good points in this video! With that said, I like to compare it to losing weight or staying in shape. Most will give it their best shot and maintain it for a short period of time and life gets in the way and quit.
Number 1 watching these videos.
If you're reading this, you'll probably never break the cycle.
Some things cannot be simply put to "it takes you to Point A to Point B". Especially for cars, there are a lot of emotions going on that make you buy bigger and "better" cars. Same with other WANTS like travel, housing etc.
This is empowering Rose; Your insights could offer valuable guidance to others striving for financial security and success. Keep sharing your journey.
I'm only halfway into the video and this is already better than I anticipated. Thank you!
Middle class is an attitude, a state of mind, not an amount of income or assets. Though it is not very middle class to go in to debt for the sake of consumption.
What I wish I'd know sooner the most is that saving isn't enough, you need to invest the savings to keep up and outpace inflation.
Everything you do is what I’m striving to do; camper-van to travel, real estate investing, getting out of middle class habits… I’m an oncoming college student. I graudate highschool in less than a month and I am so scared. Everything about my future scares me. I want to be successful but I also want to be happy. I don’t want to work my whole life and then die. I want to live in my youth, not once I’m done working. I’m seriously so scared.
so brilliant! we're hardly ever taught such concepts back in school, I'm a uni student and the goal is to get rich and make heavy bucks. How? no one taught ever haha ironically. Thanks for this! biggest take away is definitely to work on passive incomes and have multiple income streams!
I literally am beyond happy stumbling on your page. Thank you so much!!! Have a blessed day !! I plan to continue spreading your knowledge you provided here to all people ☝️🙏🏽😊
When you talk about leverage and real estate, first one has to come up with the 20%down. That’s the most difficult step to overcome.
Thank you, I enjoy hearing about your mindset and your journey. I learned so much from you over the years.
thank you, that means a lot to me!
@@itsrosehan you are so welcome.
I wish I knew this earlier too... I'm in my 60s'! But you are still inspiring me to make changes to my habits. Thanks Rose!
Lol. Love it Rose. My circle is always discussing investment opportunities and business ideas. I drive my wife nuts since she says that’s all I discuss with my friends
lol that's great you have friends like that!
@@itsrosehan well, I only have 3 or 4 close friends. Lol. I guess that’s why
10:06 two things, first and foremost thank you for bringing that point up about self worth. I tell people to drum it into your brain that you're not replaceable
My biggest flex is being able to buy whatever I want but not needing it. I’m happy to be debt free and being able to put away a decent amount of my earnings into my investments every paycheck.
When it comes to cars: Most modern cars are good enough even for billionaires. Anything out of the ordinary will attract attention and you are no longer anonymous on the road. I think that is why they chose ordinary cars: It is not to save money.
Excellent point about the impact of one's inner circle on financial success! It's also vital to continuously upgrade our financial education to make informed decisions that align with long-term wealth building, rather than just short-term gains. 👍
"Rich Dad Poor Dad" it will open your eyes WIDE on what must be done to be rich... and it's not hard work. It's smart work.
Working hard for someone else is not what it used to be when our parents who are in their 70s used to be. These days work smart
I saw a Short on TH-cam a while back that changed my perspective fundamentally. I guy talked about how he bought a hotel for 20M, refinanced the loan for 30M and put that 10M into his own pocket tax free. Now this guy technically isn't rich, he is in debt - but regarding his lifestyle, it doesn't matter. It was in this instant that for the first time I truly understood the movie line from Gordon Gecko: "I create nothing. I own."
Wanna be rich? You'll NEED to play "money games"!
Charlie Munger said leverage is the number one way to go broke. I think the number one principle to adapt is to understand the average person needs time to do the work. Running teams, businesses, processes are stressful and not for everyone.
TH-cam algorithm somehow led me to this. Obviously, it seems to know that I'm a middle class salary man who working my ass off for my family without thinking too much on savings haha. Anyway, this is a great video and some part of my brain started seeing the light after this video. Thanks Rose.
@14.25 right on, multiple income stream, however, it needs bit of discipline and time. starts early
Without any formulas, living frugal and investing for a decade will change things around. Those trips to all inclusive resorts and Europe only enriches us culturally if anything but not financially.
I am so glad this video popped up on my TH-cam page. I learned a lot! The video was very informative with fresh information
Working hard will help you to develop discipline. If you keep working and don't give up you will overcome difficulties until undisciplined and lazy people will act like victom.
Of course, working smart is important (thinking outside of box).
If we combine working hard and smart we can achieve great result.
13:06 "it almost seems unfair"😂 IT IS UNFAIR!!!!!!!!!!!!!!!!!!!!!!!!!!!💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯
People that dont have the same goals as you will pull you down. They dont want to see you thin, happy,’wealthy, and doing better than them. So if youre hanging out with people that are thin happy and wealthy its impossible for them to pull you down
Encore une fois, J'adore la facon dont vous exposez les choses. Mon anglais est basique, mais j'ai tout compris :D
#1 Set yourself up for success.
#2 Save more than you spend, spend on what you can afford, and reuse what you can.
#3 Use tools, opportunities, and invest to your advantage.
#4 Know your value and curate your portfolio.
#5 Lower your expenses or their cost.
#6 Have multiple income streams.
#7 Own less or only what appreciates and owe less.
#8 Invest wisely in yourself.
Rich people write the tax laws, and they do so in their favor.
Another awesome video Rose! #1 is for sure how individual/fearful/careless vs together/fearless/careful your financial journey is. When I became aware of Bitcoin and learned a ton about it, I was pretty sure Bitcoin was going to be adopted as digital gold over time back when it was $3K a coin. Almost everyone around me is/was unhealthy negative skeptical, uninterested, or uneducatedly emotionally only caring about getting rich quick. I unfortunately invested hardly anything into Bitcoin back then and missed out on retiring early to be able to focus full-time on striving to unite society spiritually, psychologically, and financially in my peak human years. Basically, for almost all things in life...the most effective humans are ones that are united...whether for good or evil.
Stay at home (or lots of roommates). start working a trade at 16. Buy a small home at 20. Don’t move in. Rent, flip, or Airbnb. Repeat. If your parents have a college fund go somewhere for cheap or part time and combine with plan above.
Growing up, we didn't talk about money, politics, or religion. What I learned about money is a) we didn't have any, and b) we couldn't afford whatever it was.
I lived in a poverty mindset for decades, to where now, in retirement, I don't want to spend money, even though I can.
At 22, my only care in the world (besides university, that is), were music festivals.
I'm 38 and while I've always been great at saving, I never invested or thought about retirement. I started out broke at 28 and moved into a cheap condo. Over the years, the combination of living below my means and incremental raises at work allowed me to save up 200k. With that, and selling my condo for 90k, I purchased a house in cash. No debt as I hate having it and avoid like the plague.
Not long after, I received an inheritance for an additional 300k. I'm now just starting to look into investing in both retirement and brokerage accounts. I'm kicking myself because if I had done that earlier I'd have quite a bit more money now, but I think I'm in a good place regardless. I just calculated my net worth and am right under 1 million, so while the 300k did help, alot of it was just being frugal and saving everything I could.