Best Financial Advice For Young Adults Going Into 2023
ฝัง
- เผยแพร่เมื่อ 2 ม.ค. 2023
- JOIN THE TAX-FREE WEALTH CHALLENGE NOW! AUGUST 5-9 2024!
join.taxalchemy.com/join-thec...
JOIN THE TAX-FREE WEALTH CHALLENGE NOW! MARCH 18-22 2024!
join.taxalchemy.com/join-thec...
Learn the rich's tax secrets with my new book! Click the link below
ebook.taxalchemy.com?
Taking the Next Step:
📞 Book a Professional Tax Strategy Consultation: www.taxalchemy.com/consultati...
Join the Free Tax Strategy Accelerator Community! ▶ www.taxstrategyaccelerator.co...
Watch this FREE Webinar on How to Cut Your Tax Bill in Half as a Real Estate Investor ▶ join.taxalchemy.com/registrat...
Learn How to Grow Your OWN Rental Portfolio & Reduce Taxes Legally! www.taxalchemy.com/consultati...
My Tax Strategy Programs:
Tax Free Living Bundle (47% off): taxfreelivingbundle.com/tfloptin
🏡 Buy Tax Alchemy Rental Loss Program Now: app.taxreductioncompany.com/t...
Book a Discovery Call to Learn More About Tax Alchemy: www.taxalchemy.com/consultati...
Check out these links Below!
Learn How to Self Direct Your IRA or 401k: directedira.com/karltondennis/
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc
![ลักพาตัว เอาลูกเอิร์นกลับมา...!! [เอิร์นไดเม่]](http://i.ytimg.com/vi/f4NVKlZ5qkk/mqdefault.jpg)
When rent alone is 50% 💀
Average household spends $3K a year in takeout food. That is conservative estimates.
Get a better job maybe?
Get a cheaper place to live or increase your income
For anyone taking out payday loans or in credit card debt, pay those off as soon as possible, no matter what it takes. Live off beans and water, cancel your tv subscriptions, whatever it takes to get those debts paid off. Then keep going and save up an amount of money equivalent to the debt you just paid off. Next time something unexpected happens, like a car repair expense, instead of taking out a loan from someone else, give yourself a loan out of your savings. Treat it like a real loan: make your monthly payments back into your savings account, with interest, until your savings are back to full with a little extra. You’re now literally paying yourself all of the interest and loan payments instead of some sleazy loan shark now. Your future self will thank you.
True that, I am only 20 and I have been saving probably 80% of my income since I started working. My wife is a student and we have managed to buy, renovate, and rent out that house and have over 100k net worth (over 60% in cash) Anything is possible if you sacrifice now for time and freedom in the future!
How'd you do it please I'ma be 18 I wanna do this so I can follow my passion
Great advise and I hope they will learn it from you…. You have a very persuaded commanding voice. Good luck in your journey!!!!
I'm in complete awe at how I went from living an average life to making over 63k per month. It's amazing. The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. The key is knowing where to focus. Well appreciated,
MARCIA ANN BICE .
What should I invest in after I have six months of savings?
Hey thanks for the advice!
Great Video!
Great advice.
Love this
I highly agree with almost everything, except for the bank account in which you're storing the money inside of.
Putting money in a "bank account" is a great way to "lose" money. Just inflation alone will erode the purchasing power of whatever amount you have saved !🤔
Dont be daft, you can easily put it in a hysa that you dont touch
I agree with the 6 month emergency fund, but the average person can't afford to save 40% of their income. The average man in American makes betweek 45 to 50k before taxes according to social security administration. If you have a wife and or child your not going to be able to save hardly anything. 90% of America lives pay check to pay check and with inflation nowdys its tuff for a lot of people out there.
For those on disability who can save 90-95% of their monthly checks, the problem is, the govnn't doesn't allow them to save over 2k, invest or put money into any interest bearing acct & it
must be reported so they're stuck..true story
True!
Facts!!!!
Start saving soon as you possibly can
inspired
Karlton, just found the channel and love the content. Subbed. Question being, I’m doing everything I can to save 55-60% of my income. I am 24 years old and make a very good income, I’m wondering why you recommend the 40% number and if I can continue investing between 30-50% long term, how can I retire early? Thank you.
Nice, very good advice. I will take this advice at 54.
Wise words I too wish I would have done this when I was younger. It amazes me that we do not teach finances in high school or even younger
That’s because school brainwashes us to be workers and employees for life.
🔥
Two incomes are better than one. This makes marriage, make sense, on another level.
With our current inflation, money loses its value way too quickly. I'd personally invest in sustainable property like a hobby farm since the stock markets are a mess and the economy is on a downhill slide.
Yea but some people gotta pay rent and car bills. The eating out and treating yourself can be saved tho
40% sounds like a lot
Wisdom speaking. Imagine though starting off working 60 years ago and grossing $44 a week?!! And we "lived" on that. Now that's the "American Dream."
This is true! I invest 34% of my income. About a year from now I will be able to afford a house!
House isn't gonna make u money. Try something profitable first
On the surface this makes sense. However, most folks between 20 and 30 aren't making enough money to save 6 months of their income. Let alone 40% of a paycheck. That's where the disconnect is. But that's not to say you couldn't save anything
If they're living at home they can. I had a Jamaican woman tell me yrs ago how her McDonald's job and living at home w/her mother helped her put a new roof on her mother's house bcus she saved every single penny, while her other 4 siblings who had better paying jobs (in banks and such) were always so broke crying the blues and couldn't contribute a single penny!
The millionaire next door cites 30% was making wealthy familiys in the 90s iirc.
And it'ssss gone. The bank loaned your deposit out and it didn't go so well.
That's good advice. And Homie look swolle out here
Soooo imma save money to give to someone else 😂😂😂
Live in a box and save 100% lol…. Nobody ever got wealthy from saving.. invest in stocks or start a business and invest in yourself
Dude!!!!!! Now you are talking 👏🏾👏🏾👏🏾👏🏾
Здравствуйте мне вопрос есть?
How you gonna save 6 months of your expenses when you gotta pay for the expenses every month? Lol rent doesn’t stop being due because you want to save up
My friend, first you have to get yourself into a positive cashflow position. From there you can start to allocate money from your checks to work towards the "6 months" goal. If you're not in a positive cashflow position, then you need to evaluate your finances and decide where to make adjustments; reduce your debts, reduce your monthly expenses down to the bare essentials, etc.
@@ChristopherPiedraexactly!
@@ChristopherPiedra smart af, couldn’t have said it any better myself. Pay your bills but set money aside for that 6 month fund once you’ve completed that the rest is for investment allocation. Ideally you don’t want to have lifestyle inflation either once you see you have “extra money” it’ll only be a detriment.
I think this is for those of us that can make this happen now if you’re living pay check to pay check you might want to sit this one out but keep going it can happen
@@rachelletunstall3115 job hopping is the only way to get your fair wage. Most of my old coworkers who were in this situation had been there for a long time. Don't underestimate yourself and get a nice resume! Hype it up and apply for higher, ask for more. You can make counter-offers, and they're likely to re-counter with a better deal.
Let's say you want $20 an hour, and they offer $19. Ask for $22, they'll counter you down to 20-21 or so.
You realize how easy 40% is? I live in Nashville so it’s super expensive. So take this. If your living expenses for a low middle class adult is 2700 a month. You’d have to make 5500 which isn’t very much. That’s 60k a year before tax. If you’re able to make 7-9k a month which is also easy if you’re in the right field here. I’m a live sound engineer so I am able to do the 50% rule sometimes more
This is bad advise
He's so fine 😭
Boy I don’t save my money I invest it. This man is new money. Don’t listen to a new money black man 😁
👊🏿💯
Save 100% ma man, stop the bullshit
Adding this to my lesson manana! 🫡
don’t know you but proud of you, keep them finances up. We got this
@@dmvxtrap3232 appreciate it! Time to school my math students. Brotha droppin gems! 👍🏾
Это компания Financial Advice Helptine Limit
🔥