Investing for Beginners
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- เผยแพร่เมื่อ 6 มิ.ย. 2023
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Investing for Beginners
Today I'm gonna cover the basics of investing, so you’ll know how to invest the smart way-the way that will set you up to build real wealth.
Links:
How to Start Investing: A Beginner's Guide - www.ramseysolu...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
Thanks for the video. I finally established a way to increase my net income per month. My 2024 goal is to pay off the house by Sept 2024 (8 years total into a 30 year @ 4%). I have no debt other than mortgage. My 401k, HSA, IRA and emergency funds get maxed out. The mortgage is my last piece of debt left. I don't have any school loan or CC debt. I've made a lot of sacrifices over the years.
Congratulations on taking the steps necessary to get yourself out of the financial bind you were in.
That's truly remarkable. I hope you don't mind pointing me towards their direction.
She's Sophia Elaine. One of the finest portfolio managers in the field.
She's Sophia Elaine. One of the finest portfolio managers in the field.
she's mostly on Telegrams, using the verified user name.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment...
@@smithlenn I thought about investing in the financial market, I heard that people make millions if you know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.
The concept of using spreadsheets has always seemed incredibly time-consuming and superfluous to me. Each month, I simply deposit a large sum of money into my savings accounts, retain my spending money in an other account, and make an effort to spend as little money as possible.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least 121k ROI, and this does not include capital gain.
Hi Mate, please how can i reach this CFA of yours?
I remember having a consultation with a financial analyst last August, and it was incredibly insightful. Can’t stress enough how helpful experts in this field are!
Absolutely agree! A good financial analyst can make a world of difference. What specific insights did you gain?
As long as you diversify your portfolio, any single stock or investment that you own shouldn’t have too much of an impact on your overall return. If it does, diversifying might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding me profit thanks to guidance from Jonas W. Herman.
That’s awesome! I’ve been contemplating hiring one since I can’t get a hang of investing even after buying courses. I’d like a discussion with him. Any means to reach him?
Hermanw jonas (a Gma!L comm
Is he taking commissions for his services? Yes, I’m I still making money in the process? Hell yes!
Thanks for the advice, both of you. It’s reassuring to hear positive experiences.
I feel more confident about moving forward with Herman now. I just shot him a mail. Thanks for sharing your experiences!
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My husband and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless.
Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)
Always giving us good videos.
Most times strategies works when well applied, In the past I use to have serious phobia for trade because I don't want to lose all my money but I'm very profitable and it has become my best passive income from the first time I bought my house through trade and not salary
Which strategy did you use?
Magnificent 📈👏🏻
Glad you are making progress I'm well encouraged. Most times I live with doubts and fear of losing before executing trades
Exactly the common experience by traders especially newbies is fear of losing money I passed through all this routes in trading. Honestly demo and paper account seems so easy but money loses and wins not seems like it is in demo account when using real account with real money on it I understand that frustration. At some point I was at the verge of giving up but I'm thankful and grateful that I'm very profitable now.
One thing I know about trading is that is not for the impatient. Perseverance and focus is the key
Got it!! You are very right and sometimes demo and paper account can be so easy but gives otherwise results when put in real money
So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 46 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!
Just buy low sell high. Stick with a good company by either not selling when it’s going lower and/or buying more at that time. Almost always the good well managed companies will come back strong at some point. The other is to get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Well, I recommend you make a diversification plan because it's been harder to build a good financial portfolio since COVID. My colleague suggested I hire an advisor. I did and I've actually made over $926K with my advisor's help during this market crash. She uses defensive strategies to protect my portfolio and make profits despite the ups and downs.
@@Nernst96 Really? I’ve actually been looking to switch to an advisor for a while now. Just never made up my mind. Any help pointing me to who your advisor is?
Sure. There are a lot of independent advisors you might look into. But I only work with “Vivian Carol Gioia” and we have been working together for nearly four years. She has since provided entry and exit points on the securities I concentrate on. She's well-grounded and known, shouldn't be a hassle finding her page.
@@Nernst96 Thanks a lot for sharing man, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
i dabbled in blue chip stocks etfs and bonds...also trading. Picking the best stocks might seem daunting for beginners because of a lot of factors required for making a profitable trades.i reached out to an investment advisor Lisa Rosa Cavanagh who guides me through and manages my investment. i made my first million to my portfolio last year. I'm focused on investing now with my head high..
that's quite impressive, you surely made a good bit of money..
I did read about Lisa Rosa Cavanagh on the web., quite a great resume she has
i keep my buying eyes set on target stocks on low days. I'm pretty sure the market will recover soon and continue the climb
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
I traded well on my Demo account but when I invested in to my main account i lost all my funds. Please i need an expert to assist me with my trading. It's frustrating how people loss funds in this trading, I really feel so bad.
It's very obvious that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.
I will advise you to seek the help of a professional because it’s really hard to create a strong professional portfolio. This will help you to achieve your goals and long term financial objectives
That's true,. Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on TH-cam.
Many won't accept this truth but allow them, they'll understand when they become bankrupt as a result of unavoidable losses trading from mere TH-cam videos.
Living with fear really stops us from taking risks,definitely if you don’t go all out you’ll never get out of any financial situation.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!
Olivia Sullivan financials is my portfolio-coach, I found her on CNBC where she was interviewed, I looked up her name on the internet. Fortunately I came across her and reached out to her, you can verify her yourself.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can.
I started investing when I was 37, mostly through sweat equity. I just turned 42 and this last month was the first time that my passive income broke $100k for the month. This is solid advice! DO IT! You don't have to get rich quick, you just have to get RICH no matter what..
The greater the passive income you can build, the freer you will become. Taking the first step is the hardest, but 7 houses later living off passive income. You’ve got to start taking steps to achieve your goal.
What kind of investment would you advise? And what is the best way to follow it?
All passive income ideas work as long as you put the work in. I focus more on cryptos, NFTs, real estate crowdfunding and IDOs. With the assistance of a financial consultant, I’m doing well for myself.
Thanks for your response but how do I get access to your financial consultant? Can you share more info about him/her if you don’t mind.
Olivia is the best in this space, I'm happy to come across these. I invests with her and I'm impressed with the thoroughness and professionalism of the investment diligence packages she provides.
That's a good decision if you start now. I invested in real estate with the help of a Fin. consultant and was able to buy my third house last year September and hope to buy more if things keep going smoothly for me.
Yes, please more investing videos. Simple, step by step. Investing can be overwhelming and complicated. Thank you George!
You got it!
@@GeorgeKamel yay!!! I concur with them 😊
Once investing becomes a habit that you can’t imagine stopping, you’re golden. The biggest hill to climb is just getting that habit formed.
I'm really between the devil and the deep blue sea, is this really a good time to buy? Folks are screaming "Dead cat bounce" Do I just wait and buy after continuation after rally when things go back down? My reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
It depends, you could sit-back and capitalize on the downtrend, if you're looking to make immediate-profit from the rally, you should just hold short positions, although that'd require good level of expertise
My daily market-decisoins are guided by a portfolio-advisor, reason being that the entirety of their skillset revolves around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a portfolio-advisor for about 2years+ and I've netted over 1.5million.
I read inflation will be at 30% by the end of the year, hopefully the government doesn't let things become as bad as Argentina or Venezuela, my plan to just earn more gains passively and ride out this recession, can you inv-coach aid me?
Sure, the inv-coach that guides me is Lisa Ann Moberly, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
I am new to the stock/crypto market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 175K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities/
@jay pritchett Hi , please who is the expert assisting you and how do I reach out to them?
@jay pritchett Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing
Personally I think the big name basic etfs are great
Don't mess with single stocks. Instead, buy index mutual funds on a regular basis. Don't worry about the short term ups and downs. Just keep buying. Over the period of 10, 20 years, they will give you a good return positioning you well for retirement
Dave Ramsey recommends investing:
25% in growth and income mutual funds (large cap)
25% in growth mutual funds (medium/large cap)
25% in aggressive growth mutual funds (emerging markets)
25% in international mutual funds (foreign/overseas)
I love when you go to the streets! I’d like longer form interviews with each person too, like 45 seconds. Great video George!
Another amazing content from George, you make beginners think about a lot of things that they haven't considered yet. I almost fell into deadlock crisis in my mid 40’s but thankfully now I’m close to retiring in a satisfactory manner because of the early investments I made.
Yes true he does put that element of necessity of having to invest especially when you're young. His videos motivate me, makes me want to rethink my lifestyle too because I have not been doing what I ought to arghh
My husband and I are in our mid-late 40s with combined net worth of $655k. Early investing is truly a game changer 💪🏻 the beginning might feel slow and tough but when you try to make it a habit then it just becomes part of you and you don't feel it anymore.
I love listening to him, there's a lot I need to learn, I need to start making the best decisions for my future. You say you where in a crisis in your 40's? whats your story and how did you navigate through it? I'm in a bit of a sh*thole myself haha
@@weicaihon well I went through a d i vorce at 46 and it basically wrecked me, before that I never really looked at what my r e t i r e ment would be like but after the whole situation I just had to look at things differently because I knew needed to get my life together before 60 at least.
Luckily for me I was r e f erred to a p a r ticular f i r m in Colorado by a f i n a n c i a l a d visor. Fast forward to today through the firm in a couple years I've been able to amass $580k for my r e t i r ement and still going.
The 401k matching has a catch like everything else, a lot of companies require you to be employed for like 2 or 4 years for you to keep the match, if you leave before that timeline they will clawback those matched funds
That's true..I work in Healthcare. And it's 5 yrs for us to be fully vested. But I've been with them 8 yrs. We use Fidelity and they've got good funds there
5 years for me to be fully vested as well. I never see these kinds of videos mentioning the vesting schedule though
Mine is immediately vested but yes you are correct for many employers
Welcome 🙋🏻♀️ HR Girl here. I just saw an increase in 401k enrollments at my company since highlighting it in REORIENTATION 🎉
Just leaving his comment to let you know that you’re going to have millions of followers in the next 2 to 4 years. If you keep up the quality of humor and the information you are sharing love all this stuff. Thank you for posting.
Very kind thank you!!
George, your videos are literally the most funny and entertaining pieces of content I watch. Each video has something unique and I always end up showing my wife the clip I laugh at and she can CARE LESS 🤣
But my man, that whole “bond” rant got me so good. “Barry Bonds” 😂👌
A TSP video would be cool. It’s not only for federal employees but also for Military too.
The TSP is essentially a 401k. Just substitute "TSP" for 401k throughout. Get the 5% match; always reasonable to invest in the Lifecycle fund corresponding to the year you turn 60-65
@@arh1234yes!!!!!
George’s personality & editing team is top notch 😂
A beginning investor video for kids would be great. My nephew is 16 and is interested in investing, but it's a little different for kids.
This^^ I’m 15 and it’s confusing
Kamel, You have a knack for explaining complex things with humor.Great video!
Hey there! Just wanted to remind you that it's never too late to start taking your investment journey seriously. I remember struggling for years before diving into crypto last year. And let me tell you, it completely changed my life! So don't lose hope, my friend.
Spot on. The market presents a lot of opportunities to create passive income, with the right skill and proper understanding you're good to go.
I make £84k/yr. No investment and I work from home. I need to do something quick. What can I do?
Thank You for the MAGNIFICENT explanation on investing. I love all of your videos & I definitely support this channel
❤❤❤
I MOST DEFINITELY want a video that talks about Brokerage Accounts, HYS, HSA & Etc…
You’re Great George😊😊😊
Same!! Would love to see a video on this too!!
Please make a video like this for the people of Canada! I know myself and others would greatly appreciate it. Thank you so much for all you do!
Thank you for keeping it simple! More videos to make investing a little more understandable? Yes, please.😊
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
VTSAX or FSKAX and chill. Extreme diversification and low fees.
Bro, these vids are straight up fresh and hip yo. No cap.
George is my favorite TH-camr. Keep it up bro.
Could you do a video on a taxable or bridge account all the talks and all the raves are about retirement age accounts but not many people talk about a taxable bridge account in depth and it doesn’t seem most people realize you can even do that.
Your videos rock! Kamel killed it again!!
Yes the goal is to retire ASAP
“If your company offers a match, contribute that, then move onto Roth IRA until maxed out, then move back to 401k until you hit 15%.”
What if we have a company-sponsored Roth401k with a match? Would you suggest taking this concept by having and contributing to a separate Roth IRA until I hit that max, and then go back to the Roth401k? Or keep it all in the same employee-sponsored Roth bucket?
Always like it George takes it to the street and interacts with the people
The editing in these videos is brilliant. I Laughed out Loud when Scobby Doo appeared. Jade would say the word 'LOL'
Great video. Fun, funny and informative. You guys are doing a great job of your online presence. Y’all make it easy and enjoyable to watch. 👍
Quickly becoming my favorite TH-cam channel!
I've watched many videos with George. This one really surprised me. I didn't know he is so short.
I am soooo late to seeing this video! 🤯 This video is GOLD George 👌🏻👌🏻👌🏻
And that’s what part of why this country is what it is. So much knowledge. Beautiful ❤
40k subscribers in one month!! 🎉 WHOA George 😮 your money’s making you money’s making you monies!! 💵💵💵
Awesome quality! I’d love to see a video on why borrowing money from your 401K is a bad idea. I’ve heard the Ramsay network talk about it, but it hasn’t always made sense. I have a lot of friends who talk about doing it often.
I heard Ramsey said that you cheated your money the chance to grow. Suze Orman also said it’s double taxation. When you pay back the money you pay with after taxes money and when you pulled it out during retirement, you will also pay taxes on those money also so double taxation.
Good video, but I never get why the Ramsey folks love pitching “growth stock mutual funds” instead of simple ETFs like VOO, VTI, or VUG.
Covalent bonds aren’t terrible, but I like ionic bonds better.
Covalent bond is the strongest bond out there. 😊
@@johns1015 but I like ionic bonds because the ions just really love each other!
George i am here! straight from papa Dave's show 😊
I don't get a match with my employer but Robinhood gives me a 1% bonus when I deposit into my Roth IRA through them so I guess that's something
I still have 1 student loan left which will be paid off in 10 months. I can't wait to start investing. Most of my investing will be the company matched 401K and Roth 401K. I also will invest in dividend stocks. And my emergency fund money sits in a high interest savings account. I refuse to keep it in a regular bank that pays practically nothing.
If you're not currently contributing to 401(k), you should consider doing so right now to get the company 401(k) match.
Just reached 21.000 after 1 year of savings and now 3 months of steadily investing in ETF.
Can't wait to reach 100k.
Zero debt , zero credit card ever.
Piano teacher
First hit $100k in early 2020, that covid dip really hurt at the time. 4 years later that dip is barely noticeable on the long term chart and we are well over $300k with increased contributions in recent years.
Keep grinding out there! ABB - Always Be Buying!!
I deal with an investment advisor for this reason. I currently have over $70k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons under guidance. Our current project for this year is a more concrete ballpark target this year.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
My CFA ’Melissa Maureen Ward’ , 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 her handler, She seems very proficient and flexible. I booked a call session with her.
Duuude. You are funnnnnny😅😂😂😂. That "Roth" bit had me rolling.
I think one point that doesn’t get talked about much when it comes down to whether or not you pay off your house early or not, is if you pay for a 30 year mortgage and take 30 years to pay it off then you pay well over $100,000 in interest….which means you don’t make a profit on your house when you sell later, if you do.
If the interest is lower than inflation, you are already paying less than you would've if you paid all at once. Unless the real estate market is very out of sync with inflation.
@@tymondabrowski12 all I’m saying is if you pay $500k (ish) for a $300k house bc of interest and waiting the whole 30 years…when you sell it in the future for maybe $500k you don’t make any profit bc you overpaid. No one talks about that point. Save money on interest by paying it off early, have your income to make money for you, and make a profit on your house later. Win win win.
@@TS1023TS In the end you need a place to live. You can buy investment houses and pay those off early if you want to treat a house as an investment.
if you can make more money off the loan money than the interest rate your paying your floating cash gains. my grandfather had his house paid off and took out a mortage because he could make more money with that money than the interest rate.
You can write off the interest each year on you taxes. If you can invest with a higher CAGR than the mortgage interest, you will end up making more than you pay in interest (assuming you invest all the money you would be paying down the principal with). But that doesn't take the piece of mind you get by paying off you house into account
Thank you for this breakdown! I’ve been following the Ramsey Baby Steps for a few years now and finally understand this process!
George you’re hilarious! Thank you for making a serious subject fun to learn about🎉
George, more videos breaking down investing and making it palatable to non-nerds like us.
You won the Internet today.
Actually, my company started offering a ROTH option. It's PRE-tax vs POST-tax, not whether it's company funded/sponsored or not.
"And when people think Roth,they think of their favorite character from Friendth"
This one got me, Jorge 🔥
Great video (you look taller in the studio BTW)
Hey George, can you do a reaction video on one of Caleb Hammer's videos? He is always mentioning Dave and it would be great to see what you think about his advice.
George only touched on the HSA towards the end which, to me, kind of implies that it's not as beneficial of an long term savings vehicle than the others. I realize that you would need a HDHP in order to contribute to an HSA, but the fact that it is triple tax savings (contribution, growth and distribution - although limited to medical expenses), I think an HSA is worth considering as well. Assuming you've at the least invested the company match on your 401k. When you're old one of the biggest expenses are medical bills, so I see it as a win.
Yeah!! With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate . Just my thoughts
Earning effectively is all about making smart investment choices and committing your resources to legitimate and secure platforms. It's crucial to do thorough research and due diligence before diving in.
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"When you start working for yourself". Yes, perfect, or sooner if possible.
You are the best and just so you know , essence comes from actual fruit that is #2’s / culls and the nicer pieces get sold in grocery stores.
Hey George! Can you do a video on property management? I want to learn the difference between hiring a property management company and being the manager for my rental homes. I currently use one, and I want to decide if I should be my own manager when I retire.
I have the same question!
I'm learning English, and I can understand 80%, what he said. In my community (Latino) there's little education about money., what is a big rock of ignorance that I had to carry for 29 along years... But now , I begin to invest 600 each month in ETF, IVV and QQQ.BSaving ANOTHER 400, each month for some emergency. But now I know that is necessary to have an emergency saving. Only have 2000. I hope to increase to 6 k, in this year. ..and I made a mistake before, buy a house in My country (don't paid all yet) ... I hope to continue to increase my financial education, watching this videos. And thanks for all. I appreciate all this.❤... Sorry for my spelling, I'm learning yet.... May God bless the American people for the opportunity he gives us to work and grow within a first world country to all the people who want to do good.❤❤
My gratitude and praise to this team of gurus por bringing my life back on track when I thought everything was gone! but with the help guidelines I was able to realized that the secret to making a million is saving for a better investment
You had me at Covalent bond. Lol... Excellent video. I will show your video to my teens.
By the time I retire a million dollars is gon be a funny number to just talk about. Now 50million is more like it
Facts!
It's only 40k in retirement if you never want to spend your principal. It's more like 80k if you plan to live for 20 years after 65
3-5 million
I started thinking about investment since school days in Vietnam.
However, the Internet search results (of that time) tricked me into pages of crypto, forex.
Now I have my portfolio in Japan for 3 years, whose value is about 10000 USD and current return rate of 20%. Not as high as others but still good for me.
The compound interest quote is attributed to Benjamin Franklin, not Albert Einstein. Who knows if either of them actually said that, but that's the common quote credit
A small nitpick at 8:00. Roth doesn't grow "tax deferred", it frows tax free. Deferred means it comes later, but with Roth you never pay taxes on yhe growth so theres nothing to be deferred. Which is the conclusion you come to anyways, so the end result is correct. Traditional grows tax deffered because you are delaying taxes.
The advantage to tax deffered growth in a traditional account is that you aren't losing growth to taxes between now and when you take the money out.
Please make the video on investing if you can’t do a roth and are self employed!
The quality of your channel is top tier. How do you not have over 100k subscribers. Damn that just shows how difficult TH-cam can be.
He just started the channel a month ago…
He should have more subscribers based on the content. I think that more people are focused on stupid cat videos or other non productive garbage like that.
I've been empoverished most of my life. It's not because I overspend. I just didn't have much income. I remember a year when my total income was less than $1000. I lived in someone's attic and I ate a lot of cabbage that year. (I still like cabbage.) I did save some when I could. I had to retire in 2009 at 58 because I'm partially paralysed. SInce in the last 16 years I didn't increase my budget so invested the leftover. I'm still not rich but have a networth between $400K-500K and growing about $30-40k/year. The sad part is I have nothing to spend it on, I have everything I need/want already. I have 2 grandaughters who will inherit my swag so to speak. I still reinvest about $1000+ each month. Old spending habits are hard to break (either spending too much or too little). Also, my friends seem to be more loyal when I'm not rich, in my opinion. Money being ephemeral anyway (I own SBUX), I suspect being rich is not what it is cracked up to be.
Again, really enjoyed watching this!! Thank you!!!
Glad you enjoyed it!
Would love a video on back door and mega back door Roth's. My income makes it where I can't do a traditional Roth. Thanks George!
It would be helpful to see an example ticker that falls into the growth mutual fund category. It doesn’t need to be an actual ticket but explain to us what the morning star reports are and what to look for in a mutual fund info page.
As an HR guy. Thanks for the recognition
There are several options, but you could consider (index only, because I care about you):
Growth: VTSAX
Gr&Income: VHYAX
AggrGrowth: VIGAX
Internatiinal: VTIAX
What do I do? VTSAX+VTIAX.
I have a 401a that I have no control over. My company automatically invests 5% on my behalf. I also have a 457 that I invest 15% into. That get matched 50% up to 1000 a year. Am I doing this right? Lol
George please talk about options for households that don't qualify for Roth. Married filing separately doesn't qualify. ???? Thx. Love ur channel. Way 2 Kamel up!
Growth stocks have been on a tear, but there are a lot of historical and theoretical reasons to believe value stocks will become dominant again
I love it when George goes to the streets of Nashville 🎉
They need to teach this in ALL schools!
Thanks George, I particularly enjoyed you video.
Yes I’d like to learn more about HSA’s and how to invest for our kids so they have a nest egg later in addition to their college funds… please and 😊 thank you
Love this presentation! Thanks for the fun way of getting this out there!
Such a 🔥 video! Real world engagement, sound plan with specific examples to help simplify and squash the confusion!
I LOVE your videos. They're so witty, informative, and hilarious - keep up the good work!
Your witty jokes never failed to make me laugh George!
Keep it up, George! I’m loving your content!!
I would actually go to the HSA after maxing out the Roth. It has no RMDs and can be used for tax free medical expenses or regular like a IRA after age 65 so like a 401k without RMDs at worse.
I think they don't bring this up because not everybody is eligible for these, so instead of complicating things they just keep it simple. Roth in itself is limited, but adding another layer of possibilities is complicated for the average Joe
Love this video, thanks George!! God bless!!!
Thanks for this one! 👍 Very understandable for someone who's not finance-savvy. Most of the examples of compound interest relate to investing over a long period of time, starting young. We're in our early 50's and only recently found these principles, so we don't have that kind of time. Are there online calculators that extrapolate out where your retirement accounts are now and where you might be in 10- 15 years? How to play catch up would be a great video, for sure!! We can't be the only ones.
You can use "future value" calculators. use what you have now as a starting point, add what you feel you can contribute for a certain time frame and it should give you a good picture.
But remember returns aren't linear. they fluctuate and include negative years. negative numbers change the results (If I gain 10% one year and lose 10% the next year, my average return is 0% but I have less money than what I started with)
Oh Georgie, you just gave me so much hope! I am just turning 47 and just starting to save after a very messy divorce and nothing to show for it. I may be able to have something to leave my kids and their kids after all❤!!!
Cheering you on!!
@@GeorgeKamel that actually means a lot, thank you!
You should be investing as MUCH money as possible. Don’t be conservative or subtle, put your money in the market.
Please give examples of growth stock funds and the different terminology they are called.
yes please make a video on the backdoor Roth and other options
George, do you write your own script? Love your sense of humor! 100% 😂
Bring every investment video George... Thank you
George coming through with the goods, as well as a wonderful taste in shirts 🐪🐪🐪
before u watch this video go to 4:09 then go back to the beginning. this’ll help tremendously!
I'm curious, for someone with around $50,000 to invest, how would you recommend we enter the market? I am looking study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this approach?