Any chance you can include a sources/citations list? Possible I missed it among all the other links in the description and if so, my bad! Just drives me nuts because if you have screenshots of one article I KNOW you must have one, or a folder of bookmarks or something. 🥲
I told myself when I get 10k I'll get tattoos from a prestigious artist. I hit 10k and said "20k is just 10k away." I hit 20k and thought "20k is close to 50k." I hit 100k and bought a house. I never got the tattoos.
@@Nick-nv1mk After meeting with this financial advisor in 2019 my financial life changed, I've experimented with a few over the past years, but I'm stuck with ‘’Ryan williams” for about five years now, i just sit back and watch the whole thing grow itself as i get rewards, and other benefits that just get all sumed up in my available balance. I advise you all to go look him up. Look him up in my bio
I think after 10k seeing 5 figures in your bank account is a total mind shift for the average person. Most middle class people don't have 1k in their bank account so seeing that 10k sets you on the path🎉
@@VincentChan Yes having 10k mentally signaled to me that although I'm far from rich and have a low income that I'm not struggling anymore and If I'm short on rent or have an emergency that I can cover it. I actually had a 1500 car repair this Summer that I paid cash for because I am against loans and financing. Now I'm on the path to saving another 10
Yeah when I started working,I was surprised by the amount of people who didn't even have 1k in the bank. Like even with all your bills it's easy enough to reach 10k in less then a year & keep increasing the amount.
I gotta disagree, I think middle class people have way more than $1k in the bank. Now people just making the household median in most major cities, those people probs don't. Hell even people just above the poverty or below have more bc they need to budget to survive.
I do the same but I keep them in a HYSA instead of a bank, I only keep like $1000 in the bank. I took financial analysis course to manage my own investments and always updating every now and then by analyzing current market state with and grabbing tips here and there from videos like this one. Closing in to $100K pretty soon in investments and I’m proud of it 😊
Saved my first 10k in 2023. Now my networth is 31k :) I’m 23 and make 50k a year as a forklift driver. I work a lot of OT and save as much as I can. I’ve also been pretty fortunate with my investments.
Dude, you are ballin. Keep building those assets and one day your money is going to work harder than you do! I wish I had 31K at 23. For perspective I probably had around $15k at 23 and now at almost 29 I have $115K in net assets. So if you keep on the course you are on you will 10% of your way to a millionaire before you are 30!
Very similar situation as you, 65k invested now as I've been doing it for 4 years but my first job I did forklift, hit 10k in mid 2021 and because of the bull run saw it run up to 20k around August that same year. As a kid who literally had maybe 2k starting in 2020 I felt rich! After that nothing was the same, and I focused on investing as much as I could. I've had 3 jobs since then and most only payed a little over $20 an hour.
I saved my first 10k and then my basement flooded and my car completed broke and then mt family got 8k in medical expenses and now Im back to square one lol
Ive been walking on eggs shells aka paycheck to paycheck since 18 years. 1 year ago at the age of 37 i decided to cutback spending. I reached 10k in savings in June, currently at around $11,150. I didn't realize how the average American didn't have much saved. My stress level has taken a nose dive since saving 10k. Trust me once you reach it, its a game changer
@@SamLee-e3b I felt accomplished but not relaxed because 100K isnt that much money at least where I live. I need to move to a cheaper state and actually have a chance of owning a house
This is so true. Telling a newly college graduate to concentrate on saving $10k is much more realistic than to say try to build wealth. Your videos are always helpful.
This is absolutely true. Felt like forever to get to 10k. Took me no time to get up to 40k. Paid off my truck and other important bill i need to pay for which took me down to 18k again. Already back to 25k in a few months. I advice you all to get financial expert like Ryan who help you build wealth and share with you other Benefits. i met him 7 years ago and never regret meeting him. Check in my bio for more information about him and thank me later.
This is absolutely true. Felt like forever to get to 10k. Took me no time to get up to 40k. Paid off my truck and other important bill i need to pay for which took me down to 18k again. Already back to 25k in a few months. I advice you all to get financial expert like Ryan who help you build wealth and share with you other Benefits. i met him 7 years ago and never regret meeting him. Check in my bio for more information about him and thank me later.
There's a book called Success Secrets Of The Elite, it talks about how using some secret techniques you can attract a lot of money, it's not some bullshit, it's the real deal. Great video btw
I remember when my bank account hit $10k for the first time. I called my mom to share the news because I was so proud. It really did produce a big mental shift.
This is absolutely true. In 2016 I was homeless for a few months and by the end of 2017 I was stable with about $6k saved due to some remarkable coincidences. The difference in how I felt was unfathomable.
Hit my first 10k 3 years ago. Jump to 40k. Then used that money to buy stock, S&P500 started a side business with $10k, and I used the remainder in high-yield saving accounts.
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’m in a lost grey zone, i saved up my first 10k and had it stolen from me by someone i thought was a friend, im still in the process of recovering that damage. i had to move out of my home state to somewhere idk anybody and work a job that paid half of what i used to get paid. i have almost no room to save by the end of the month and it’s now september, and i’ve been applying for jobs since october. some days i feel the motivation and other days it’s hard to see light at the end of the tunnel. i think what’s helped keep my stuff slightly together is my self discipline, there’s not much reward from being able to freely save but i guess i’m not homeless still. i think about it everyday on where i can save and how i can save but by the end of the month it was just to make my bills.. it’s a mental roller coaster
As a beginner, educate yourself, Learn the basics of investing and the stock market. There are many resources available online, including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research.
Remember that investing in the stock market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q1 2025.
My CFA ANNETTE MARIE HOLT a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
One big part is "your new zero". When i first hit 1k i never wanted to be below that again. Hitting 10k does the same. Youll stop hitting zero as you want to avoid feeling broke. But now if you hit zero from a big expence you dont take on debt, you just lose your savings which inflation was eating anyway
I was happy to hit my first 10k last year, im currently sitting at 24k this year. It might be slower growth since I now have my own apartment, but slow and steady (and also aiming for higher wages)
I'm 21 with 68k in investments working for only 3 years at Publix. For the first year I paid no rent then the last 2 years I have paid $700 a month to my dad who takes care of every other bill. This has allowed me to save almost every bit of my money minus the small things I've wanted for myself.
80% stocks 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large $500k stock/bond portfolio for substantial gains at minimum risk of inflation.
Invest in S&P 500 ETF, for as long as possible. Do it as often as you can. Try not to withdraw this money and let compounding do its work. 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.
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest
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
A Millionaire acquaintance of mine told me to stop buying so much jewelry, and at least open up my own Jewelry business. Long story short, still don't have the store up, but many jewelry stores online purchase wholesale from me, and I make a living doing that. Prior I ran a cell phone business on ebay that grossed 10k per week and around 400 profit per day, ran a dvd business that did 500/day but Netflix ended that for me long long ago, Lol. I started all of these businesses with $0-$100
@@susannachua7305 I believe we all are, just have to figure a way to capitalize on it, if that's your goal. Right now i'm already thinking of a plan for the holiday season.
@@jackie812001 I wish. Stocks weren't in my radar back in the day, and didn't even know how to invest. Now it's too easy to buy shares of companies with a simple app. Times have changed.
$10,000 is when you really start feeling like your savings and investment strategy is paying off. Every time that number goes up 50% or doubles up, you will get another big dopamine hit. After you hit about 1x to 2x your annual salary in capital you might even have to start forgetting or checking less your accounts or you will lose every drop of motivation you have in your body to work hard 😂😂...that is when you start obsessively dreaming of working part-time, joining quiet-quitting, going for early retirement, and so much more that involves not being the most productive worker out there...just a heads-up. Massive mindset shifts coming with those milestones that you might not even consider possible...for example, money becomes of secondary importance when considering lifestyle choices, it is just not as front-and-center as it was before having that massive financial cushion...also material things sort of lose a bit of shine and hype when you can easily afford them, this also ties up with the mindset shift to less motivation to work hard and chasing endless stacks of money.
First $10k, then $100k, $250k, $500k then $1M. It’s all about leveling up! It’s 100% possible to do this. We have reached Coast FIRE and only a few years away from full Fire now.
A mental trick I've used is keeping my checking account within a certain range. If it goes below the target range I do everything I can to cut expenses, and if it goes over it immediately gets invested. The point is to force myself into never being too comfortable. When that surplus always gets invested and you intentionally leave yourself on a tighter budget it's much harder to talk yourself into unnecessary purchases. I also started reoccurring investments and just treat it like another bill. I work as a freelancer btw, so I can have drastically different incomes month to month. This has helped me structure my money and keep me from making dumb decisions after one or two good months.
I like this idea, thanks man. I’m trying to be more intentional and structured with how I save and I like the idea of immediately investing if your checking goes over a threshold. How much do you like to keep available in your checking?
This is super true man.. started with 10k for an emergency fund after buying a house. Then we just kept going.. today I’m sitting on 160k that I’m continuing to roll over through hard money lending for flips with a partner. Now that I have momentum I’m making about 7-12k every 5-6 months. Literally the opposite of the debt snowball.. financial momentum is the real deal.
3 things that helped me and literally changed my life 1. I stopped watching porn 2. I read the book called ‘25 Money Secrets From Donald Trump’ 3. Stop drinking
To invest in alternative revenue streams that are independent of the government should be the top priority for everyone right now. particularly in light of the global economic crisis that is currently occurring. Investing in a variety of stocks, gold, silver, and digital currencies is still wise at this time.
Big moving stocks are not the secret to large profits. It involves controlling risk in relation to reward. Wearing the appropriate size and twisting your edge as often as required can help you achieve your objective. This is true for both day trading and long-term investing.
It's true that I've communicated with a broking advisor. My adviser selects the entry and exit commands for my portfolio, which has increased to about $550k from an initial starting reserve of $80k.
My CFA “Sharon Ann Meny”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
OMG! i never thought of this but guys this is real. I 100% remember after hitting 10k it got so much easier to add to that pile rather than take from it. Thanks for sharing Vincent Chan. It really did change things for me and I'm slowly trying to grow it more. the first 2 years I hit 11k - the third year I hit 50k.
Nice video the market trends hint at lower prices, but this could also open doors for smart investments. Despite a possible short-term slump, remember the market's long-term potential. Downturns can be entry points for portfolio expansion. Success lies in informed decisions and strategic planning. Thanks to Shea Ardolf’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her on the first page as her name showed up since I need all the assistance I can get.
Nice to see this here..Her expertise in technical analysis and chart interpretation has been instrumental in my trading success. ., she has definitely delivered solutions well above my expectations.
Investing in Bitcoin is the wisest asset to be in, not trying to shit on other stocks, it just won’t outperform Bitcoin over pretty much any long time horizon…reality over feelings!!
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing
You should be saying “invest” instead of “save”. Savings assumes someone is putting that money in some type of savings account which does not have the type of returns highlighted in the video.
@@jwat3217Constructive criticism is considered complaining now? Also, your point has nothing to do with the specific point in the video that I am criticizing. Perhaps you should enroll back in school?
It’s similar with pricing, they all usually end with .99 or .95. That HD TV cost 999.99 vs 1000.00 will get people’s psychology mindset towards yes. Great video! 👍
I don't make enough for that but if I do really well with my money I can do 1300-1500 a month. My goals though a little different in that I'm just trying to get my dividend payments to net me 1c an hour. Which isn't much but it's a start. Still conscious of the money saving goals that he mentions here though.
Nice video coverage keeping up with current trends and strategies can help traders stay ahead of the curve and make informed decisions, It is important for beginners in trading and investing to understand that success in these fields requires technical analysis, emotional maturity, and self-discipline. Thanks to steve michael steele insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead
steve michael steele. gave me a basic understanding of the benefit of trading over holding, especially in a speculative market. He then provided me with his daily trading patterns; I'm now earning impressive profits daily.
I'm from Germany I used to take loan from bank for surviver but after trading for real expert steve micheal steele,he changed my financial status for real
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!
First of, great job! But I do have to say that having $1000,000 "doesn't sound like a lot" is actually quite the opposite. Investing $400,000 per year is impossible for most people, but hey, good for you man! I wish I could invest that much. I'm just tackling my student loans while also putting money in my emergency fund.
There is another important component to why your returns are higher when you have more liquidity: You can take advantage of a very good value offer that pops up: A machine for your business for sale, a cheap investment property, a stock crash. To a penniless investor, missing out because you cant afford anything right now is opportunity cost.
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Charlotte Grace Miller for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Technical analysis is a crucial part of understanding market trends, especially in the dynamic world of cryptocurrencies. Historically, Bitcoin (BTC) has experienced significant corrections, often around 30% or more, This pattern offers a valuable insight for strategic planning. Despite these trends, BTC is showing promising signs, potentially breaking through the 60k mark, demonstrating its resilience and potential for growth. While there are external factors, like ETFs, that could influence the market, these elements add to the dynamic nature of crypto....At the heart of this evolution is Aldona Šabanienė, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.
The current market conditions can be tricky, but having a professional crypto expert ensures that you stay informed and make decisions based on data rather than emotions.
Shit seeing this, after i started the same way... first 10k then 20k, then 30k and now on my first real estate project ... life really changes when you take all the small steps consistently
I'm a little confused on Reason 4. While I understand the greater reward I don't think I understand How its a lower risk. If I invest $10 and the market downturns I can at max loose $10 if im simply buying stocks and funds. But if I invest $10,000 and the market downturns I can at max loose $10,000. So isn't the risk also growing proportionally to the return.
yea that part makes no sense. not sure if he made a mistake or something, only thing i could think of being higher risk is wasting your time and energy in setting up a 10$ investment.
Had this at the gym when i started (lost over 40 kg over 1 year) When i was less motivated but my "average" was allrdy 1 hour cardio per day.... i didnt go to the gym with "oh no.... now i have to do 1 hour...." i said "Well today i do 20 minutes" When you reach 20 minutes you're not stopping, youre like "ok ok... maybe 10 more is fine." Then you reach 30 "Ah screw it, i do 45.... i can do that" And at 45... "Eh might as well do that last 15 more...." it works. Reaching your goals is much easier if you only "HAVE" to reach 10-15 minutes more... despite doing maybe 1 hours anyway in the end. This works for money-goals too.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured some money in value stocks and digital asset, i accrued over $80K in dividends last year
Saving and investing is really important and this video is really good and will inspired a lot of people. However, i feel like its really important to mention something that a lot of banks and savings motivation videos fail to mention, and that is that inflation takes a huge negative impact in the overall interest return that investments or savings could benefit you. Taking the example of the video, where a 10% interest return per year is mentioned (without considering the risks), is important to consider that you're not actually gaining 10% over your investments or savings. For instance, using the approximate devaluation of the us dollar from 2023 to 2024, which is of 4.5%, you will be actually only making 3.5% in real terms in your investments or savings. So even if you achieve the goal of 10k in 8 years, it will be actually worth $7,495 now, this calculation was made by using approximate inflation rates for each year from the last 8 years. Again, I really liked the video, it’s really good and will help so much people, but I felt that its important to mention this.
I’m 23 & I hit my first $10k last month while only making $39k/year within 6 months (aggressively saved). Im desperately looking for ways to increase my income but finally hitting the $10k goal is very moving & inspiring. What are some ways I can save more in a faster time frame??
You can try opening a CD account. But if you have capital one,save that money on a performance savings account as you will gain up to 4.25% interest a year and you can take or add money out of there whenever.
Alright, so I’ve finally hit the $128K mark in my emergency fund, and now it’s time to actually do something with it. Been hearing a lot about how everything changes after you hit that $10K milestone, but man, I need a headstart! No more sitting on cash-time to invest! Only question is, where do I even start? 😂
Hey, I get it! I was in the same boat a while back. But instead of just diving in blind, I found a financial advisor to guide me through it. It helped me make informed choices instead of guessing my way through the market. Trust me, they can really give you peace of mind. Don’t go at it alone!
Massage chair is the gift that keeps on giving - A 45 min massage is like 80 bucks plus tip - let’s say 100 Massage chair probably 1k You just have to use the chair everyday after work for a year and the price per massage is $2.70 if you us it more than an 45min it’s even less. Causing less mental and emotional stress to help you start living happier thinking more clearly and in turn making smarter financial decisions. Seems worth it to me. Lol love the video keep up the good work
I'm 19 and got my first 10k saved up. From there it's been pretty quick and almost hitting 20k with half a year. The mindset shift a little which present me from spending on useless stuff and start to invest.
Really like the emphasis on Psychology and how fundamental that is to investing, probably more so than “understanding the numbers” or how stocks work. Also saw $10k & quickly became $20k cause I was deployed & got a ton of tax free, it was awesome
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
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?
NICOLE ANASTASIA PLUMLEE 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.
Hei, jeg ville bare si takk. Jeg er relativt fersk som eier, og kjører foreløpig en rolig oppstart, men tanker om dette emnet har vært tilstedet uten tydelig svar. Ikke ofte (nok) at folk snakker om hva man skal gjøre i en slik situasjon; får håpe ingen havner der med mindre det er meningen eller eget ønske.
After 10 000 in my bank account, all of a sudden, my bank took notice. Tried to "advice" me on possible investments they offer. Too bad for them that those 10k are my emergency fund.
Your content is always so much more relatable, relevant, and most of all ENJOYABLE to those who need the wisdom than other financial help videos I've watched. It is amazing to see how vastly improved in terms of style and clarity your videos are compared to when you started out a few years ago. Well done!
10:28 I'm so glad I watched this video cause I'm been in the same predicament.I'm in it right now. To be honest, I have the 10000 and it's because of my saving habits.But as kind of like you explained , it's just propped up with little sticks and I don't know how to Enforcement or make it stronger I guess
Real question here , i hope somebody has an answer I just won a lawsuit and for the 1st time in my life I will be above the 10k threshold... it will be about 45k along with other savings I already have (just under 7k) This scares me and I just don't want to fumble this... how do I get over this mental hurdle that feels like fear? I kind of just want to throw it at mutual funds and forget about it... also thinking about putting it into a down payment for a house in a couple years when I have more... but even the thought of these things has me nervous
If you work 1 day a week for 3 years in highschool at whatever length of time needed to get an average of 100 a work day, you should have about 15K by college give or take my league of legends addiction ate about 5K of my highschool money 6:59 if I had a super power, it would be for every lost coin in america to be pretaxed and added to my account. I wouldn’t need to work again in my life, on average people loose at least $3 a year in change. 300million * 3 is a lot
Thanks for the vid, will definitely share this one with my sister, since she is in the early ages of financial proficiency. Just a small pointer: Murphy's law actually states: Whatever can happen will happen. This includes a secuence of negative events, but it applies to a series of positie events just as well. 😊
It took almost ten years to save 10K, then another ten to save 40K. Thing is i just wasnt paying attention to how much my improved habits had contributed to preserving the few small raises i had gotten. Now im scrambling to get it into a retirment fund while balancing the thought its probably netter there, instead of waiting for an emergency that hopefully won't come. There multiple psychological events tgat characterise ones behavior, and at first it was just struggling to not be watseful, but later in life you have to get over that hurdle to not see your potential future as a detrimenral expense, now. Breathing room is nice, but it can also becone an anchor.
I saved $100,000 in 3 years feels good I am paying cash for a airplane soon. I have invested in a rental home and 15,000 in oil stocks.. I have 0 debt and Save $4,000 a month.
I hit 10k a year ago in 6 months and was so proud went through hell but did it and then ended up spending it on myself and my patents now restarting with way lower income and way more bills idk if i could even do it in 2 years
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Just keep going. I started with my Roth IRA in 2017. I have maxed it out every year. It's now at $80,000. I'm 32 currently. Don't try to do it all at once, I just kept putting it away every month - and kept increasing it ever year as I got raises.
I absolutly agree on the small goals. When saving for retirement I found it helpful to break the lump sum into chunks using my personal budget so for example say hulu is 20 bucks so 240 a year so if I save $6000 dollars (using 4% rule) That is much easier to do that save 1million+ which seems unattainable. Do this for all your typical expenses and arrange from smallest to largest
Business doing 10k/month at the moment ontop of my job. It’s taught me ham to spend money to make money, rather than save. Taking risks has been the best thing I’ve ever done.
I think there is definitely an issue with scale with this idea. My wife and I have had full time jobs in our careers together for less than 2 years and currently have about 75K saved up and a combined roughly 50K in investments. I think the idea of the first 10K can be applied to your first 100K easily as different people are in different brackets and I'm at a point in life where the financial TH-cam I'm looking for is more about how to grow and protect my wealth since saving it isn't much of an issue. Some people may not like that, but thats just how things are sometimes. Someone making 50K a year will have a harder time saving 10K than someone making 350K a year.
🏆 The $1000 Savings Challenge is now closed but join the wait list below to be notified of the next one → learn.vincentchan.co/save1k
Any chance you can include a sources/citations list? Possible I missed it among all the other links in the description and if so, my bad!
Just drives me nuts because if you have screenshots of one article I KNOW you must have one, or a folder of bookmarks or something. 🥲
I told myself when I get 10k I'll get tattoos from a prestigious artist. I hit 10k and said "20k is just 10k away." I hit 20k and thought "20k is close to 50k." I hit 100k and bought a house. I never got the tattoos.
This is the one
How long did that take? Did you have any investments?
100k for a house? Where ?
Sounds like you dodged a bullet😁
@@Nick-nv1mk After meeting with this financial advisor in 2019 my financial life changed, I've experimented with a few over the past years, but I'm stuck with ‘’Ryan williams” for about five years now, i just sit back and watch the whole thing grow itself as i get rewards, and other benefits that just get all sumed up in my available balance. I advise you all to go look him up. Look him up in my bio
it's kinda crazy how nobody's talking about the forbidden ebook called Zyphura Money by Hunter Zypher
I’m at $3000. Still going.
Keep going!
I got $1500. Everyone finishes the race at their own pace.
I'm proud of you! Keep Saving 🎉
Keep going
@@supercaptainbatdoggyI’m at $2 🔥🔥
I think after 10k seeing 5 figures in your bank account is a total mind shift for the average person. Most middle class people don't have 1k in their bank account so seeing that 10k sets you on the path🎉
I 100% agree! Was that what you experienced to?
@@VincentChan Yes having 10k mentally signaled to me that although I'm far from rich and have a low income that I'm not struggling anymore and If I'm short on rent or have an emergency that I can cover it. I actually had a 1500 car repair this Summer that I paid cash for because I am against loans and financing. Now I'm on the path to saving another 10
Yeah when I started working,I was surprised by the amount of people who didn't even have 1k in the bank.
Like even with all your bills it's easy enough to reach 10k in less then a year & keep increasing the amount.
I gotta disagree, I think middle class people have way more than $1k in the bank. Now people just making the household median in most major cities, those people probs don't. Hell even people just above the poverty or below have more bc they need to budget to survive.
I do the same but I keep them in a HYSA instead of a bank, I only keep like $1000 in the bank. I took financial analysis course to manage my own investments and always updating every now and then by analyzing current market state with and grabbing tips here and there from videos like this one. Closing in to $100K pretty soon in investments and I’m proud of it 😊
Saved my first 10k in 2023. Now my networth is 31k :) I’m 23 and make 50k a year as a forklift driver. I work a lot of OT and save as much as I can. I’ve also been pretty fortunate with my investments.
Dude, you are ballin. Keep building those assets and one day your money is going to work harder than you do!
I wish I had 31K at 23. For perspective I probably had around $15k at 23 and now at almost 29 I have $115K in net assets. So if you keep on the course you are on you will 10% of your way to a millionaire before you are 30!
Bruh where can i apply for a good forklift job..?
Very similar situation as you, 65k invested now as I've been doing it for 4 years but my first job I did forklift, hit 10k in mid 2021 and because of the bull run saw it run up to 20k around August that same year. As a kid who literally had maybe 2k starting in 2020 I felt rich! After that nothing was the same, and I focused on investing as much as I could. I've had 3 jobs since then and most only payed a little over $20 an hour.
I'm 26, at 112k net worth. About 20k of that is a dumb retirement plan I shouldn't have done, 77k is invested on my own, 16k liquid.
Do you put money in retirement?
It's true for me, when I'd saved my first $10k. It empower me to keep on saving and now that is all I can think about everyday how much I can save.
I’m at 70k $ just by saving, on decade almost of saving…and like 3 years thinking how to invest my money 😅
that's amazing john, so happy for you
I saved my first 10k and then my basement flooded and my car completed broke and then mt family got 8k in medical expenses and now Im back to square one lol
@@stevengonzales9870 that’s a lot. But I’m sure you will be able to get there again sooner rather than later 👊🏼👊🏼
idk man, so much more important things to think about everyday
Im at 3k right moving back to the U.S. in 2 weeks. Got a new job starting at 95k. I can finally put my life on a good trajectory. Thank you Lord
Congratulations that’s awesome!!
Praise God!!
good luck!!
Amen, wish you the best brother!
How’s it going?
Ive been walking on eggs shells aka paycheck to paycheck since 18 years. 1 year ago at the age of 37 i decided to cutback spending. I reached 10k in savings in June, currently at around $11,150. I didn't realize how the average American didn't have much saved. My stress level has taken a nose dive since saving 10k. Trust me once you reach it, its a game changer
Once you hit that first 100 grand you really do feel relaxed 😎
@@SamLee-e3bi dont feel relaxed at all 😵💫😵💫
@@brrbigbrrr8500 you gotta get the first 100 in. You HAVE to after that you can start to focus on other areas if you want.
@@brrbigbrrr8500 Thats cuz your eye is on that million boi
@@SamLee-e3b I felt accomplished but not relaxed because 100K isnt that much money at least where I live. I need to move to a cheaper state and actually have a chance of owning a house
The fact that nobody talks about the forbidden book Zyphura Money by Hunter Zypher on Vexoner speaks volumes about how people are stuck in a trance
This is so true. Telling a newly college graduate to concentrate on saving $10k is much more realistic than to say try to build wealth. Your videos are always helpful.
This is absolutely true. Felt like forever to get to 10k. Took me no time to get up to 40k. Paid off my truck and other important bill i need to pay for which took me down to 18k again. Already back to 25k in a few months. I advice you all to get financial expert like Ryan who help you build wealth and share with you other Benefits. i met him 7 years ago and never regret meeting him. Check in my bio for more information about him and thank me later.
This is absolutely true. Felt like forever to get to 10k. Took me no time to get up to 40k. Paid off my truck and other important bill i need to pay for which took me down to 18k again. Already back to 25k in a few months. I advice you all to get financial expert like Ryan who help you build wealth and share with you other Benefits. i met him 7 years ago and never regret meeting him. Check in my bio for more information about him and thank me later.
There's a book called Success Secrets Of The Elite, it talks about how using some secret techniques you can attract a lot of money, it's not some bullshit, it's the real deal. Great video btw
I remember when my bank account hit $10k for the first time. I called my mom to share the news because I was so proud. It really did produce a big mental shift.
This is absolutely true. In 2016 I was homeless for a few months and by the end of 2017 I was stable with about $6k saved due to some remarkable coincidences. The difference in how I felt was unfathomable.
Hit my first 10k 3 years ago. Jump to 40k. Then used that money to buy stock, S&P500 started a side business with $10k, and I used the remainder in high-yield saving accounts.
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
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?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
i’m in a lost grey zone, i saved up my first 10k and had it stolen from me by someone i thought was a friend, im still in the process of recovering that damage. i had to move out of my home state to somewhere idk anybody and work a job that paid half of what i used to get paid. i have almost no room to save by the end of the month and it’s now september, and i’ve been applying for jobs since october. some days i feel the motivation and other days it’s hard to see light at the end of the tunnel. i think what’s helped keep my stuff slightly together is my self discipline, there’s not much reward from being able to freely save but i guess i’m not homeless still. i think about it everyday on where i can save and how i can save but by the end of the month it was just to make my bills..
it’s a mental roller coaster
may god bless you and your path to making that back! Learn from that past experience turn it into a lesson
dont give up, you can do it again,
Sounds like an expensive lesson.
As a beginner, educate yourself, Learn the basics of investing and the stock market. There are many resources available online, including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research.
Remember that investing in the stock market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q1 2025.
@@Jeffcraparo How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
My CFA ANNETTE MARIE HOLT a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
One big part is "your new zero". When i first hit 1k i never wanted to be below that again. Hitting 10k does the same. Youll stop hitting zero as you want to avoid feeling broke. But now if you hit zero from a big expence you dont take on debt, you just lose your savings which inflation was eating anyway
I was happy to hit my first 10k last year, im currently sitting at 24k this year. It might be slower growth since I now have my own apartment, but slow and steady (and also aiming for higher wages)
Saved first 10K at 17. Now 21 with 50K saved
i'm 20
Do you have it a stock market or all in saving
Any advice on how to make the first 10k? Did you do it with a traditional job ?
@@OfficialHombreeI’m in same position as him yes full time warehouse because I live with my parents
I'm 21 with 68k in investments working for only 3 years at Publix. For the first year I paid no rent then the last 2 years I have paid $700 a month to my dad who takes care of every other bill. This has allowed me to save almost every bit of my money minus the small things I've wanted for myself.
80% stocks 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large $500k stock/bond portfolio for substantial gains at minimum risk of inflation.
Invest in S&P 500 ETF, for as long as possible. Do it as often as you can. Try not to withdraw this money and let compounding do its work. 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.
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest
Bro really forgot to buy comments
@@HosseyNJFhahahaha
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
Where can you find it?
A Millionaire acquaintance of mine told me to stop buying so much jewelry, and at least open up my own Jewelry business. Long story short, still don't have the store up, but many jewelry stores online purchase wholesale from me, and I make a living doing that. Prior I ran a cell phone business on ebay that grossed 10k per week and around 400 profit per day, ran a dvd business that did 500/day but Netflix ended that for me long long ago, Lol. I started all of these businesses with $0-$100
You should have bought shares in Netflix back then.
You are a born entrepreneur!!
@@susannachua7305 I believe we all are, just have to figure a way to capitalize on it, if that's your goal. Right now i'm already thinking of a plan for the holiday season.
@@jackie812001 I wish. Stocks weren't in my radar back in the day, and didn't even know how to invest. Now it's too easy to buy shares of companies with a simple app. Times have changed.
can you explain more details on how you go about selling wholesale?
$10,000 is when you really start feeling like your savings and investment strategy is paying off. Every time that number goes up 50% or doubles up, you will get another big dopamine hit. After you hit about 1x to 2x your annual salary in capital you might even have to start forgetting or checking less your accounts or you will lose every drop of motivation you have in your body to work hard 😂😂...that is when you start obsessively dreaming of working part-time, joining quiet-quitting, going for early retirement, and so much more that involves not being the most productive worker out there...just a heads-up. Massive mindset shifts coming with those milestones that you might not even consider possible...for example, money becomes of secondary importance when considering lifestyle choices, it is just not as front-and-center as it was before having that massive financial cushion...also material things sort of lose a bit of shine and hype when you can easily afford them, this also ties up with the mindset shift to less motivation to work hard and chasing endless stacks of money.
Best comment. You understood it all!
Fair outlook this one!
First $10k, then $100k, $250k, $500k then $1M. It’s all about leveling up! It’s 100% possible to do this. We have reached Coast FIRE and only a few years away from full Fire now.
I can't wait to retire, but far from it at 36.
A mental trick I've used is keeping my checking account within a certain range. If it goes below the target range I do everything I can to cut expenses, and if it goes over it immediately gets invested. The point is to force myself into never being too comfortable. When that surplus always gets invested and you intentionally leave yourself on a tighter budget it's much harder to talk yourself into unnecessary purchases. I also started reoccurring investments and just treat it like another bill.
I work as a freelancer btw, so I can have drastically different incomes month to month. This has helped me structure my money and keep me from making dumb decisions after one or two good months.
I like this idea, thanks man. I’m trying to be more intentional and structured with how I save and I like the idea of immediately investing if your checking goes over a threshold. How much do you like to keep available in your checking?
This is super true man.. started with 10k for an emergency fund after buying a house. Then we just kept going.. today I’m sitting on 160k that I’m continuing to roll over through hard money lending for flips with a partner. Now that I have momentum I’m making about 7-12k every 5-6 months. Literally the opposite of the debt snowball.. financial momentum is the real deal.
3 things that helped me and literally changed my life
1. I stopped watching porn
2. I read the book called ‘25 Money Secrets From Donald Trump’
3. Stop drinking
To invest in alternative revenue streams that are independent of the government should be the top priority for everyone right now. particularly in light of the global economic crisis that is currently occurring. Investing in a variety of stocks, gold, silver, and digital currencies is still wise at this time.
Big moving stocks are not the secret to large profits. It involves controlling risk in relation to reward. Wearing the appropriate size and twisting your edge as often as required can help you achieve your objective. This is true for both day trading and long-term investing.
It's true that I've communicated with a broking advisor. My adviser selects the entry and exit commands for my portfolio, which has increased to about $550k from an initial starting reserve of $80k.
For some time now, I've been considering switching to an advisor. Could you please tell me who your advisor is?
My CFA “Sharon Ann Meny”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.
I like high yeild savings accounts, when you make a few thousand a year in intrest it makes saving 10k very easy!!
OMG! i never thought of this but guys this is real. I 100% remember after hitting 10k it got so much easier to add to that pile rather than take from it. Thanks for sharing Vincent Chan. It really did change things for me and I'm slowly trying to grow it more. the first 2 years I hit 11k - the third year I hit 50k.
Nice video the market trends hint at lower prices, but this could also open doors for smart investments. Despite a possible short-term slump, remember the market's long-term potential. Downturns can be entry points for portfolio expansion. Success lies in informed decisions and strategic planning. Thanks to Shea Ardolf’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
Shea Ardolf program is widely available online..
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her on the first page as her name showed up since I need all the assistance I can get.
Nice to see this here..Her expertise in technical analysis and chart interpretation has been instrumental in my trading success. ., she has definitely delivered solutions well above my expectations.
Investing in Bitcoin is the wisest asset to be in, not trying to shit on other stocks, it just won’t outperform Bitcoin over pretty much any long time horizon…reality over feelings!!
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing
You should be saying “invest” instead of “save”. Savings assumes someone is putting that money in some type of savings account which does not have the type of returns highlighted in the video.
You could make your own videos instead of complaining. Everyone’s path is different.
@@jwat3217Constructive criticism is considered complaining now? Also, your point has nothing to do with the specific point in the video that I am criticizing. Perhaps you should enroll back in school?
You gotta save & invest at same time. Life isnt all about investing in markets
It doesn't assume anything. You assumed that.
@@Andrew-it7fb go back to school because you clearly never learned to pay attention.
It’s similar with pricing, they all usually end with .99 or .95. That HD TV cost 999.99 vs 1000.00 will get people’s psychology mindset towards yes. Great video! 👍
exactly! did you learn anything new from the video?
@@VincentChan - it’s a refresher video.
Nice video! Same logic and math as the $100k rule we hear all the time, but much more approachable and attainable. I like it! Keep up the good work :)
thank jack appreciate it
I’m saving $2000 a month right now
Same
We gotta
I don't make enough for that but if I do really well with my money I can do 1300-1500 a month. My goals though a little different in that I'm just trying to get my dividend payments to net me 1c an hour. Which isn't much but it's a start. Still conscious of the money saving goals that he mentions here though.
Same here
By living solo or with parents ?
Nice video coverage keeping up with current trends and strategies can help traders stay ahead of the curve and make informed decisions, It is important for beginners in trading and investing to understand that success in these fields requires technical analysis, emotional maturity, and self-discipline. Thanks to steve michael steele insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead
He mostly interacts on Telegrams, using the user-name,
I’ve just looked up his name and found him without sweat, very much appreciate this
steve michael steele. gave me a basic understanding of the benefit of trading over holding, especially in a speculative market. He then provided me with his daily trading patterns; I'm now earning impressive profits daily.
I'm from Germany I used to take loan from bank for surviver but after trading for real expert steve micheal steele,he changed my financial status for real
I have also seen different people talking about this steve micheal s. It must be amazing that people are saying such good things about it.
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!
How you’d do it? I have $40k in debt with minimal savings?
First of, great job!
But I do have to say that having $1000,000 "doesn't sound like a lot" is actually quite the opposite. Investing $400,000 per year is impossible for most people, but hey, good for you man!
I wish I could invest that much. I'm just tackling my student loans while also putting money in my emergency fund.
YMAX has a 43% dividend, pays monthly and is highly diversified. YMAX is a Yieldmax ETF
That's totally a great thing that not a lot of people, myself included, can't legitimately claim
wait how did you earn the money to pay all of that?
I’m at 10k but working on paying off a debt before I really start investing and saving even more , thanks for this video!
There is another important component to why your returns are higher when you have more liquidity: You can take advantage of a very good value offer that pops up: A machine for your business for sale, a cheap investment property, a stock crash. To a penniless investor, missing out because you cant afford anything right now is opportunity cost.
I'd say $100,000 as a big vacation or buying a car puts a dent in $10K and $100,000 makes those seem like less of a hit.
Right, definitely less of a hit.
That's not wrong but I think that misses the point. Imagine that hit with no savings :-o
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Charlotte Grace Miller for helping me achieve this
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Technical analysis is a crucial part of understanding market trends, especially in the dynamic world of cryptocurrencies. Historically, Bitcoin (BTC) has experienced significant corrections, often around 30% or more, This pattern offers a valuable insight for strategic planning. Despite these trends, BTC is showing promising signs, potentially breaking through the 60k mark, demonstrating its resilience and potential for growth. While there are external factors, like ETFs, that could influence the market, these elements add to the dynamic nature of crypto....At the heart of this evolution is Aldona Šabanienė, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.
She mostly interacts on Telegrams, using the user-name.
@AldonaSabaniene.
The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
Nice info, i appreciate your concern this will help a lot especially to the young investors who have no or lesser knowledge on how the market works.
The current market conditions can be tricky, but having a professional crypto expert ensures that you stay informed and make decisions based on data rather than emotions.
Shit seeing this, after i started the same way... first 10k then 20k, then 30k and now on my first real estate project ... life really changes when you take all the small steps consistently
I'm a little confused on Reason 4. While I understand the greater reward I don't think I understand How its a lower risk. If I invest $10 and the market downturns I can at max loose $10 if im simply buying stocks and funds. But if I invest $10,000 and the market downturns I can at max loose $10,000. So isn't the risk also growing proportionally to the return.
yea that part makes no sense. not sure if he made a mistake or something, only thing i could think of being higher risk is wasting your time and energy in setting up a 10$ investment.
Had this at the gym when i started (lost over 40 kg over 1 year)
When i was less motivated but my "average" was allrdy 1 hour cardio per day.... i didnt go to the gym with "oh no.... now i have to do 1 hour...."
i said "Well today i do 20 minutes"
When you reach 20 minutes you're not stopping, youre like "ok ok... maybe 10 more is fine."
Then you reach 30
"Ah screw it, i do 45.... i can do that"
And at 45...
"Eh might as well do that last 15 more...."
it works.
Reaching your goals is much easier if you only "HAVE" to reach 10-15 minutes more... despite doing maybe 1 hours anyway in the end. This works for money-goals too.
Great perspective
Man I’ve been trying to save up to 10k but everytime a new semester rolls around, that private institution tuition drains my bank account
Good teaching. Mindset change is key to even saving $10K or $20K.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
Tesla?
I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured some money in value stocks and digital asset, i accrued over $80K in dividends last year
Saving and investing is really important and this video is really good and will inspired a lot of people. However, i feel like its really important to mention something that a lot of banks and savings motivation videos fail to mention, and that is that inflation takes a huge negative impact in the overall interest return that investments or savings could benefit you.
Taking the example of the video, where a 10% interest return per year is mentioned (without considering the risks), is important to consider that you're not actually gaining 10% over your investments or savings. For instance, using the approximate devaluation of the us dollar from 2023 to 2024, which is of 4.5%, you will be actually only making 3.5% in real terms in your investments or savings.
So even if you achieve the goal of 10k in 8 years, it will be actually worth $7,495 now, this calculation was made by using approximate inflation rates for each year from the last 8 years.
Again, I really liked the video, it’s really good and will help so much people, but I felt that its important to mention this.
I’m 23 & I hit my first $10k last month while only making $39k/year within 6 months (aggressively saved). Im desperately looking for ways to increase my income but finally hitting the $10k goal is very moving & inspiring.
What are some ways I can save more in a faster time frame??
You can try opening a CD account. But if you have capital one,save that money on a performance savings account as you will gain up to 4.25% interest a year and you can take or add money out of there whenever.
Put the 10k into a high yield savings. Start investing at your current savings rate in index funds/etf's
You transition into your ads/promotions very smoothly. Nice job
Alright, so I’ve finally hit the $128K mark in my emergency fund, and now it’s time to actually do something with it. Been hearing a lot about how everything changes after you hit that $10K milestone, but man, I need a headstart! No more sitting on cash-time to invest! Only question is, where do I even start? 😂
Hey, I get it! I was in the same boat a while back. But instead of just diving in blind, I found a financial advisor to guide me through it. It helped me make informed choices instead of guessing my way through the market. Trust me, they can really give you peace of mind. Don’t go at it alone!
That’s how I set goals for myself, completely small goals adds up, definitely works
Reason 4: Your risk grows in proportion to the amount you put in
I agree. And for some people, even that 1k goal can be the first step.
I appreciate this video, as an important supplement to the $100,000 video
100%! did you learn anything new from the video?
19 years old and I just reached my first £10,000 I currently have 2 investments (ISA + Premium Bonds) which i'm planning on diversifying soon!
Massage chair is the gift that keeps on giving -
A 45 min massage is like 80 bucks plus tip - let’s say 100
Massage chair probably 1k
You just have to use the chair everyday after work for a year and the price per massage is $2.70 if you us it more than an 45min it’s even less. Causing less mental and emotional stress to help you start living happier thinking more clearly and in turn making smarter financial decisions. Seems worth it to me.
Lol love the video keep up the good work
I'm 19 and got my first 10k saved up. From there it's been pretty quick and almost hitting 20k with half a year. The mindset shift a little which present me from spending on useless stuff and start to invest.
Love how you took the 100k that everyone does and made it more reasonable for most Americans
Really like the emphasis on Psychology and how fundamental that is to investing, probably more so than “understanding the numbers” or how stocks work. Also saw $10k & quickly became $20k cause I was deployed & got a ton of tax free, it was awesome
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
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?
NICOLE ANASTASIA PLUMLEE 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.
Thank you for this amazing tip. I just looked the name up and wrote her.
When your referring to the 10% return in the stock market are you referring to domestic stock or another form of investing?
You are probably missing the “don’t make the same video 10,000 times rule”
Hei, jeg ville bare si takk. Jeg er relativt fersk som eier, og kjører foreløpig en rolig oppstart, men tanker om dette emnet har vært tilstedet uten tydelig svar. Ikke ofte (nok) at folk snakker om hva man skal gjøre i en slik situasjon; får håpe ingen havner der med mindre det er meningen eller eget ønske.
After 10 000 in my bank account, all of a sudden, my bank took notice.
Tried to "advice" me on possible investments they offer.
Too bad for them that those 10k are my emergency fund.
put your money in a high yield savings account
@3:20 via what investment vehicle?
Anything that pays a 10% return, S&P 500 sees returns commonly in that range
Also round numbers make easy math. Easy for beginners to grasp the concept
I broke my first 10k this year, next short term goal is 25k
How do I get 10% return on the stock market.Should I hire a financial advisor?
Interesting thinking! 🤔
thank you, you brought me back to this thinking.
4:09 Murphy’s Law: Anything that can happen will happen
Your content is always so much more relatable, relevant, and most of all ENJOYABLE to those who need the wisdom than other financial help videos I've watched. It is amazing to see how vastly improved in terms of style and clarity your videos are compared to when you started out a few years ago. Well done!
10:28 I'm so glad I watched this video cause I'm been in the same predicament.I'm in it right now. To be honest, I have the 10000 and it's because of my saving habits.But as kind of like you explained , it's just propped up with little sticks and I don't know how to Enforcement or make it stronger I guess
I'm Definitely about to buy that book
Real question here , i hope somebody has an answer
I just won a lawsuit and for the 1st time in my life I will be above the 10k threshold... it will be about 45k along with other savings I already have (just under 7k)
This scares me and I just don't want to fumble this... how do I get over this mental hurdle that feels like fear?
I kind of just want to throw it at mutual funds and forget about it... also thinking about putting it into a down payment for a house in a couple years when I have more... but even the thought of these things has me nervous
If you work 1 day a week for 3 years in highschool at whatever length of time needed to get an average of 100 a work day, you should have about 15K by college give or take my league of legends addiction ate about 5K of my highschool money 6:59 if I had a super power, it would be for every lost coin in america to be pretaxed and added to my account. I wouldn’t need to work again in my life, on average people loose at least $3 a year in change. 300million * 3 is a lot
So will this apply if I put 1k in the s&p 500 a year ?
second, and this video is perfect since i just got my first $10k
Thanks for the vid, will definitely share this one with my sister, since she is in the early ages of financial proficiency.
Just a small pointer: Murphy's law actually states: Whatever can happen will happen. This includes a secuence of negative events, but it applies to a series of positie events just as well. 😊
1M subs just around the corner.
thanks danny, that means a lot
It took almost ten years to save 10K, then another ten to save 40K. Thing is i just wasnt paying attention to how much my improved habits had contributed to preserving the few small raises i had gotten. Now im scrambling to get it into a retirment fund while balancing the thought its probably netter there, instead of waiting for an emergency that hopefully won't come.
There multiple psychological events tgat characterise ones behavior, and at first it was just struggling to not be watseful, but later in life you have to get over that hurdle to not see your potential future as a detrimenral expense, now. Breathing room is nice, but it can also becone an anchor.
I saved $100,000 in 3 years feels good I am paying cash for a airplane soon. I have invested in a rental home and 15,000 in oil stocks.. I have 0 debt and Save $4,000 a month.
Wow that’s amazing
Paying for an airplane in cash?????
I like that oil stock idea
I hit 10k a year ago in 6 months and was so proud went through hell but did it and then ended up spending it on myself and my patents now restarting with way lower income and way more bills idk if i could even do it in 2 years
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
Use her name to quickly conduct an internet search.
SHE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
scam thread post
Very inspiring & motivating! Thank you Vincent!
The intro had me hooked in!! I never thought of it this way Thank you
Just keep going. I started with my Roth IRA in 2017. I have maxed it out every year. It's now at $80,000. I'm 32 currently. Don't try to do it all at once, I just kept putting it away every month - and kept increasing it ever year as I got raises.
I couldn't agree more!!!! It works with many things and completely changes your mindset 👍
I’ve 2 CDs a 5K as well as a 1K is there any way to grow it safely I’ll be honest I really like dividends but I’m just not sure any advice?
7:55 I need to know where you got that shirt
@VincentChan Would you suggest to pay rent with a CC even if it’s having you pay $20-$30 extra just for the use of CC or simply pay debit?
I was given 30k but I have self control and discipline. Been adding to it for a while now.
Excellent video, Vincent. Relatable, actionable, effective
Would you put this into a savings account or an investment account such as investing into the s&p
I absolutly agree on the small goals. When saving for retirement I found it helpful to break the lump sum into chunks using my personal budget so for example say hulu is 20 bucks so 240 a year so if I save $6000 dollars (using 4% rule) That is much easier to do that save 1million+ which seems unattainable. Do this for all your typical expenses and arrange from smallest to largest
Business doing 10k/month at the moment ontop of my job. It’s taught me ham to spend money to make money, rather than save. Taking risks has been the best thing I’ve ever done.
which industry are you in ?
@@foreverindependant6916 I run a brand in a niche food supplement space
I think there is definitely an issue with scale with this idea. My wife and I have had full time jobs in our careers together for less than 2 years and currently have about 75K saved up and a combined roughly 50K in investments. I think the idea of the first 10K can be applied to your first 100K easily as different people are in different brackets and I'm at a point in life where the financial TH-cam I'm looking for is more about how to grow and protect my wealth since saving it isn't much of an issue.
Some people may not like that, but thats just how things are sometimes. Someone making 50K a year will have a harder time saving 10K than someone making 350K a year.