If everyone followed this advice, economy would collapse immediately (making everyone loose big time)! It’s important that only SOME wiser people make correct decisions for that reason. Also, notice how much our governments encourage poor financial decisions of the public. It’s because they directly benefit from our financial self-enslavement.
What’s sad is that people are way too stuрid to come up with these solutions on their own. I come from a cash society, but living in the West for the past 20 years. It was a huge shock to see how most “so-called-capitalist” people don’t get basic arithmetic & how entitled they are to buy what they did not deserve/earn (yet).
Tae, you are helping me get my finances to the next level and I cannot thank you enough for making these videos and sharing your passion for savvy handling of money, and your goodwill for others. I eliminated my college loan debt and then saved up a lot of cash, and I'm an only child who's dad passed away and I feel more confident knowing more and more of this stuff that I can support my mom and partner if need be and I just cant thank you enough man. Seriously. --ALC
Really good video and information very well present. I was amazed at the end your comments on debt at different percentages. It is one I've used my whole life, and at exactly those percentages. Mostly I abhor debt or despise it or hate it or cringe at the thoughts of it.
I like Financial Tortoise but to be honest, this sounds like The Simple Path to Wealth by JL Collins. It’s like he used his material and didn’t even mention it.
Any sane person could come up with these solutions, it’s also in many books and articles. Info is self evident, author of that book did NOT create those solutions, so no credit required. Cheers!
Kinda disagree. Using debt to buy liabilities is bad debt. However using debt to buy assets is good, especially if that asset is liquid and has positive cash flow. Even companies like Apple has lots of debt today.
Is car or house an asset or liability to you? Car and house are huge money sinks… repairs, maintenance, insurance, interest, additional taxes etc etc It just never ends! Obviously, credit cards are a hard no too. Sooo…. You want to buy a profitable business as an asset, or what are your ideas?
@@mikenoneofyourbusiness7122 Yeah totally agree! That's why I believe car and house are liabilities. People falsely think they are assets because those have large values and want to boost their "net worth ". If car and house don't produce positive cash flow, how can they be assets?? Credit cards are needed for having a good credit score. The bank will like you more if you have a high score. Debt doesn't have to be bad. I just used Apple company as an example that they borrow lots of money even tho they have large profits.
@@mikenoneofyourbusiness7122 Did my reply not go thru? Retyping my reply: Yeah, totally agree! That's why I believe car and house are liabilities. People falsely think they are assets because those have large values and want to boost their "net worth". If car and house don't produce positive cash flow, how can they be assets?? Credit cards are needed for having a good credit score. The bank will like you more if you have a hi score. Debt doesn't have to be bad. I just used Apple company as an example that they still borrow lots of money even tho they have large profits.
No debt is good. It is not your money to spend, so you will have to be a financial slave for a long while. It will definitely cost you stress and pain.
@@YuichiTamaki consider that I could have paid the price of the car in cash but opted to use the cash to invest. I've made about 6% on the cash that would have gone to pay off the car, and have a 2.26% interest rate. at what point does the arbitrage between the investment return on the cash and the interst on the loan become worth it?
This is an old video, but in case anyone else is binging your content like I am, let me teach you a little German. The word for debt in German is "Schuld". The word also means "guilt", "blame", and "fault". Perhaps that's why here in Germany, we don't like debt, and avoid it like the plague.
I think, it’s because Germans are PRACTICAL as a culture, not just because of the word meaning. Debt isn’t logical, makes zero financial sense to accumulate.
This dude is basically plagiarizing JL Collins book The Simple Path to Wealth. Almost word for word. In fact, he’s walking the final line of plagiarism So delicately In video format…
![[Live สด] การออกรางวัลสลากกินแบ่งรัฐบาล งวดวันที่ 16 พฤศจิกายน 2567](http://i.ytimg.com/vi/wPd7VFfWHIA/mqdefault.jpg)
You're a better version of Dave Ramsey. You just gained a sub.
Dave Ramsay always tries to shove his "values" down your throat along with a helping of really basic financial advice.
Abhor is a great word.
Sad that this video hasn't garnered near the amount of attention that your other videos do, as it is probably the most important one of them all.
If everyone followed this advice, economy would collapse immediately (making everyone loose big time)! It’s important that only SOME wiser people make correct decisions for that reason. Also, notice how much our governments encourage poor financial decisions of the public. It’s because they directly benefit from our financial self-enslavement.
What’s sad is that people are way too stuрid to come up with these solutions on their own. I come from a cash society, but living in the West for the past 20 years. It was a huge shock to see how most “so-called-capitalist” people don’t get basic arithmetic & how entitled they are to buy what they did not deserve/earn (yet).
At 2.5% interest rate.. I like my mortgage just as it is. Instead of paying down my mortgage I invest in the market instead
Tae, you are helping me get my finances to the next level and I cannot thank you enough for making these videos and sharing your passion for savvy handling of money, and your goodwill for others. I eliminated my college loan debt and then saved up a lot of cash, and I'm an only child who's dad passed away and I feel more confident knowing more and more of this stuff that I can support my mom and partner if need be and I just cant thank you enough man. Seriously. --ALC
100%. Compounding working against me is why I stopped carrying debt. Now I pay my credit cards off every month.
Thank you for great content! I wish more people find your channel and learn from it. I do learn a lot from your videos.
I paid off my house last Nov, felt good to be debt free.
Really good video and information very well present. I was amazed at the end your comments on debt at different percentages. It is one I've used my whole life, and at exactly those percentages. Mostly I abhor debt or despise it or hate it or cringe at the thoughts of it.
Thank you for your service and thank you for your videos!
I like Financial Tortoise but to be honest, this sounds like The Simple Path to Wealth by JL Collins. It’s like he used his material and didn’t even mention it.
Any sane person could come up with these solutions, it’s also in many books and articles. Info is self evident, author of that book did NOT create those solutions, so no credit required. Cheers!
great content! Keep uploading videos I learn a lot from your content!
Thank you!
there is good debt if its making you money - buy to let property
Tae, didn't you have your GI Bill to help contribute towards your MBA tuition? Thanks for your service, too!
Kinda disagree. Using debt to buy liabilities is bad debt. However using debt to buy assets is good, especially if that asset is liquid and has positive cash flow.
Even companies like Apple has lots of debt today.
Is car or house an asset or liability to you? Car and house are huge money sinks… repairs, maintenance, insurance, interest, additional taxes etc etc It just never ends! Obviously, credit cards are a hard no too. Sooo…. You want to buy a profitable business as an asset, or what are your ideas?
@@mikenoneofyourbusiness7122 Yeah totally agree! That's why I believe car and house are liabilities. People falsely think they are assets because those have large values and want to boost their "net worth ". If car and house don't produce positive cash flow, how can they be assets??
Credit cards are needed for having a good credit score. The bank will like you more if you have a high score.
Debt doesn't have to be bad. I just used Apple company as an example that they borrow lots of money even tho they have large profits.
@@mikenoneofyourbusiness7122 Did my reply not go thru? Retyping my reply:
Yeah, totally agree! That's why I believe car and house are liabilities. People falsely think they are assets because those have large values and want to boost their "net worth". If car and house don't produce positive cash flow, how can they be assets??
Credit cards are needed for having a good credit score. The bank will like you more if you have a hi score.
Debt doesn't have to be bad. I just used Apple company as an example that they still borrow lots of money even tho they have large profits.
what if you are using debt in 'safer' investments? e.g. property or bonds?
No debt is good. It is not your money to spend, so you will have to be a financial slave for a long while. It will definitely cost you stress and pain.
I have car debt. An auto loan for the next 4 years. The interest rate is 2.26%. This seems like fine debt. No?
Unless you use your car in a profitable way or it is a model that's going to go up in price in the future it cannot be considered a "good" debt.
@@YuichiTamaki consider that I could have paid the price of the car in cash but opted to use the cash to invest. I've made about 6% on the cash that would have gone to pay off the car, and have a 2.26% interest rate. at what point does the arbitrage between the investment return on the cash and the interst on the loan become worth it?
Great content!
By chance did you go to school in Granada Hills, CA?
Makes no difference to your finances, seriously.
Great content 😀
Thanks 😁
The borrower is slave to the lender
Yes, that is the most stuрid form of modern day self-slavery! Nothing changed in thousands of years 😂
Y didn’t u use ur post 9/11 bill?
This is an old video, but in case anyone else is binging your content like I am, let me teach you a little German.
The word for debt in German is "Schuld". The word also means "guilt", "blame", and "fault". Perhaps that's why here in Germany, we don't like debt, and avoid it like the plague.
I think, it’s because Germans are PRACTICAL as a culture, not just because of the word meaning. Debt isn’t logical, makes zero financial sense to accumulate.
This dude is basically plagiarizing JL Collins book The Simple Path to Wealth. Almost word for word. In fact, he’s walking the final line of plagiarism So delicately In video format…