To go deeper, pre-order my new book, Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! When you do you’ll also get over $1300 in wealth resources & bonuses for FREE! CLICK YourMoneyMachineBook.com
Hi Mel, question for you- I contribute to a state pension and my wife contributes to a 401k. We also have a brokerage account with ETFs. Should I put more into the brokerage or into my wife’s 401k or should I open a 403b?
After neglecting this for so long, I’ve gone from literally $3.84 to roughly $230k in ten years… most of this has occurred in the last five. ✌️ things I’ve learned along the way. 1️⃣ it won’t happen “accidentally”. You have to be more intentional with your finances. 2️⃣ Be more process oriented (I.e. not results oriented). Because honestly, the destination is so far off, you will get discouraged (and quit) any other way. Just be diligent, do the right thing for the sake of it. 👍
You are absolutely correct. It took me about 11 years to get to my first $100k, now I’m at $205k, the distance between 100 and 200 for me was about 4 years. I am sure getting to $300k will be shorter. Thank you for your great teaching.
Once I got honest and humbled myself I got a second job and paid off $20,000 in credit card debt in 1.5 years. Increasing my income was the biggest tip in getting out of debt. I just couldn't do it with my regular job, and I was too proud to take a second job. Now i got the emegency fund and I'm on the road to my first $100,000k . Never felt such peace and serenity! Thanks Mel this video was great!
With $10k in my high interest savings account, I'm getting $40+ a month. It's a start. And I'm not even working for it. Relatively soon, it's going to be a lot more as I keep at it 😁
Pay attention yall he is giving a free college course. reminds me of my business and marketing professor. Damn, that man showed me so much about not only business but life. As people respond to incentives and resources are scarce.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
Can I ask, where is the $100k stored exactly while saving it. Is a high yield savings account or do you grow it in the stock market through a brokerage account?
Any liquid funds that I need in the next five years, I will put in an insured high yield savings account that is fully liquidated and fully insured. Anything beyond that I will typically invest over and above the amount set aside for taxes and liquidity.
Great advice, but I would like to know how to achieve this if you live in a low-income area and you're unable to move or better jobs aren't available to you in your area?
I have almost 50k invested mainly in index funds but it only took me about 6 months due to my savings and some special circumstances as I had basically money flowing in. This is not going to be repeatable but I think I could invest about 10k a year from now on. I have one trick I could still use though. If I sell my small apartment and move to a bigger place as I need more space I would need a mortgage in any case but if I sell my current apartment I could use that money and reach 100k in less than a year. Any thoughts?
I run a small plumbing business which allow me to pay for all my living expenses and save money on top of that I own my cars nothing fancy and I own a couple single family homes I rent out both paid off and I rent my residence where I live now the rents money I save it and I’m gonna buy more real estate
Mel do you realize people do what they see and have learned.Growing up mever saw my dad use credit cards,he worked for everything he owned down to having a house built.I learned a little something about credit and credit cards.I wouldn't obtain one until my late twenties but when I used it I paid it off on time keeping my credit good
Awesome, Mel..and of course, thank you. Pre ordered the new book on Amazon. I can't wait till 11th June.. UK fan..we have a SIPP equivalent to your pension in the states and a stocks & Shares ISA tax wrappers. I invest in a global fund and a money market fund with Vanguard low cost fees in my pension and a Target retirement 2045 fund in my ISA ; same as your target date funds with Vanguard. I'm a third of the way to 100k. keep up the great work Mel..much appreciated I'm 53.started late, but better than never. Please do a video for 40's 50's saving investing. .
Hey Mel , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
So what if you save that $500,000 and the market crashes and you lose $450,000. You could say market will eventually correct but that isn’t guaranteed. And all the time spent with only $50,000 left in there…it’s not working very hard. Stock market is gambling.
To go deeper, pre-order my new book, Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! When you do you’ll also get over $1300 in wealth resources & bonuses for FREE! CLICK YourMoneyMachineBook.com
Hi Mel, question for you- I contribute to a state pension and my wife contributes to a 401k. We also have a brokerage account with ETFs. Should I put more into the brokerage or into my wife’s 401k or should I open a 403b?
"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."
Well said! Retirement is the reward of disciplined investing over the long term, not just a destination.
Well said! My adviser guided me through retirement planning, ensuring my investments were strategically positioned for long-term rewards.
That's a great point! Finding a reliable financial adviser would be essential for me to ensure my retirement plans are well-structured.
My CFA Julianne Iwersen Niemann a renowned figure in her line of work. I recommend researching her credentials further.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Took me 5 years to get to 100k! Let’s goooo
After neglecting this for so long, I’ve gone from literally $3.84 to roughly $230k in ten years… most of this has occurred in the last five. ✌️ things I’ve learned along the way. 1️⃣ it won’t happen “accidentally”. You have to be more intentional with your finances. 2️⃣ Be more process oriented (I.e. not results oriented). Because honestly, the destination is so far off, you will get discouraged (and quit) any other way. Just be diligent, do the right thing for the sake of it. 👍
I like the key word you used here: intentional. Nothing good will happen accidentally. You can’t wander to the mountain top.
Fantastic, legend! 💪
Please tell us which company's are good to invest today
@@krasirenney2085Bitcoin
😮 congratulations
You are absolutely correct. It took me about 11 years to get to my first $100k, now I’m at $205k, the distance between 100 and 200 for me was about 4 years. I am sure getting to $300k will be shorter. Thank you for your great teaching.
Golden! Keep it up!
how u do it?
@@maritesdalton1347 by understanding investment better, what stocks to remove, what to add, and since my income is higher, I am able to put more.
Once I got honest and humbled myself I got a second job and paid off $20,000 in credit card debt in 1.5 years.
Increasing my income was the biggest tip in getting out of debt. I just couldn't do it with my regular job, and I was too proud to take a second job. Now i got the emegency fund and I'm on the road to my first $100,000k .
Never felt such peace and serenity! Thanks Mel this video was great!
With $10k in my high interest savings account, I'm getting $40+ a month. It's a start. And I'm not even working for it. Relatively soon, it's going to be a lot more as I keep at it 😁
Pay attention yall he is giving a free college course. reminds me of my business and marketing professor. Damn, that man showed me so much about not only business but life. As people respond to incentives and resources are scarce.
Great video ❤
I live on a low income but no debts
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@BrandonIvan-c6e Oh please I’d love that. Thanks!
@@Donnafrank-k6e Clementina Abate Russo is her name
Lookup with her name on the webpage.
It took me 4 years to save my 1st 100k
I really appreciate your approach, it is most realistic and agree we should enjoy the journey. Thank you!
Thanks for breaking this down so clearly
I'm so glad your video was suggested to me!
Can I ask, where is the $100k stored exactly while saving it. Is a high yield savings account or do you grow it in the stock market through a brokerage account?
Any liquid funds that I need in the next five years, I will put in an insured high yield savings account that is fully liquidated and fully insured. Anything beyond that I will typically invest over and above the amount set aside for taxes and liquidity.
You are the Truth! Thank you for the strategies
Trying to serve for sure
Best channel on You Tube !
thank you for ur video. Just recently subscribed and it’s motivating
thank you Mel!
Love this ❤
Always Top Quality content Sir 🎉❤
Great advice, but I would like to know how to achieve this if you live in a low-income area and you're unable to move or better jobs aren't available to you in your area?
8% would awesome. Usually 2% or 3% is offered.
What is you don’t have 20.6 years? Can you make it faster by saving more?
I have almost 50k invested mainly in index funds but it only took me about 6 months due to my savings and some special circumstances as I had basically money flowing in. This is not going to be repeatable but I think I could invest about 10k a year from now on. I have one trick I could still use though. If I sell my small apartment and move to a bigger place as I need more space I would need a mortgage in any case but if I sell my current apartment I could use that money and reach 100k in less than a year. Any thoughts?
I run a small plumbing business which allow me to pay for all my living expenses and save money on top of that I own my cars nothing fancy and I own a couple single family homes I rent out both paid off and I rent my residence where I live now the rents money I save it and I’m gonna buy more real estate
Mel do you realize people do what they see and have learned.Growing up mever saw my dad use credit cards,he worked for everything he owned down to having a house built.I learned a little something about credit and credit cards.I wouldn't obtain one until my late twenties but when I used it I paid it off on time keeping my credit good
It should be don’t put it on credit cards unless you have the money to pay off the credit card right away
You only pay interest if you don’t completely pay off your credit card
It took 3 years to get there and 2.5 for the second 100 grand
You got that quote from Charlie Munger.
Awesome, Mel..and of course, thank you. Pre ordered the new book on Amazon. I can't wait till 11th June.. UK fan..we have a SIPP equivalent to your pension in the states and a stocks & Shares ISA tax wrappers. I invest in a global fund and a money market fund with Vanguard low cost fees in my pension and a Target retirement 2045 fund in my ISA ; same as your target date funds with Vanguard. I'm a third of the way to 100k. keep up the great work Mel..much appreciated I'm 53.started late, but better than never. Please do a video for 40's 50's saving investing. .
Awesome thanks so much and definitely will be doing those videos
It took me 8 years to get to 100k last year and this year I have 230k
If only i understand finances. I just work and know basic math
✔️
That’s a really long time for a million dollars.
Hey Mel , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
Gosh I’ve been saving for dental implants for awhile now… im not even close to what it cost …I’m doing something wrong 😢
So what if you save that $500,000 and the market crashes and you lose $450,000. You could say market will eventually correct but that isn’t guaranteed. And all the time spent with only $50,000 left in there…it’s not working very hard.
Stock market is gambling.
😍🥰😘🥰🥰😍😍😍🥰😘😘😘🥰
401 k is for losers
why
Some people would have no retirement if it had not been for employer 401k.
It’s for people who aren’t aware that Roths or High Yielding accounts exist.
Saving 100,000 is nothing these days. This is really for incompetent people.
❤❤❤❤ 👋🏽💯☝🏽🤎
Glad came across u. Thanks 🙏🏽 🔥🔥🦾🫡💯💯💯💯🍾 im goin to buy your book 📖