Great video. I realized that the secret to making a million is making better investment. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc Not making up to a million before retirement is unfulfilled retirement.!!
Nice video. Lot's of ways to save money these days. Some require that one is in good health as you may not be able to do some work around the home. Mowing the lawn can also save you money and not just in the work. Mow smart! Adjust you mower in the summer to it's highest height so the grass is taller. Taller grass has deeper roots and uses less water(tall grass gives shade to the roots and can resist damage from the hot sun easier). Mulch the clippings and don't bag them as the cuttings are 98% water and they can also feed the lawn with 20% of it's feed requirement. Water your lawn early in the morning(3am is best). Use waterless car wash for your vehicle and save water. You can purchase concentrated waterless car wash by the gallon that makes 16 gallons. Mix in a spray bottle and just spray and wipe. Use food coupons to also save on food costs. Buy frozen vegetables as they are almost as good as fresh and far less waste(less work too). You can open a bag of frozen and just cook what you need and put the rest back in the freezer. Plan you meals and limit the amount of food you keep frozen and chilled to what you use each week to prevent waste. For emergencies just keep some extra canned and dry foods in the panty that can last two weeks(eat or donate every year or two and replace). Canned vegetables have water and so serve as a food and drink in emergency situations. Dry foods are not so good for emergencies and it they require water and ability to cook. Most canned foods/meats are fully cooked and can be consumed cold and unheated. Smart thermostats are nice but no everyone wants to use apps and features. Key thing is to adjust the setting and learn to live with less heat and cooling. Set cooling to about 74 degrees and use a ceiling fan or room fan(if you even have A/C). Air cleaners(purifiers) also serve as a fan to move air! Set your heat to about 68 degrees in the winter and just dress warmer. Get water saving shower heads and also a water saving kit for your toilet to save water with each flush(you can flush twice as needed at times and still save water). When it really hot out and the sun is hitting the house close the curtains. You can also purchase curtains that are thick and designed to block heat and cold. Review all of your bills and look for areas to cut. Some cut internet, home phone, and cable TV and get a cell phone with unlimited plan. You can actually connect a phone to the TV and play videos and content using a special adaptor. They can also connect using wireless setting but that requires internet or Bluetooth and so it may work for you too. Keep a budget tracker and make note of everything you spend money on. Look at each item and ask if you really need it. Normally when we do a budget we only look at the major items. The small items count too. Think of a budget as an entire year divided by 12 months. Some items are perhaps once a month, some every two or three months, some are twice a year and others annually. A good budget considers everything including stamps. The idea of a budget is how much money is coming in and how much money is going out. Details matter in a budget as that's how you find items to cut or adjust. Last thing might be to downsize and consider selling the house and renting or purchase a condo unit. Homes require a lot of maintenance with roofs to replace and walls to paint as well as lawn care and more. An apartment or condo has less to deal with. Some even ditch the car and lose the requirement for car insurance and upkeep and use that money for public transport(walking). Perhaps live in area close to shopping and services. Not possible for some and in some areas not easy. Really it's a matter of age, health, and income and so it's something that has to be considered in the overall situation. If you keep you home and it has monthly payments perhaps pay extra principial and save on interest(only works for some). Paying off a home(quicker) is a long term investment that can save you money later by reducing the time left on the loan. Just a few tips. Myabe some typos!
Tip: Get rid of "but maybe I'll need it" stuff! I am retiring May 31. For the last 2+ years, I've had Starlink - necessary for my WFH FT job in my rural location.! I own my Gen 2 equipment, and it is totally legal to sell it. A new owner can easily just re-register the modem and dish with Starlink , and they are off and running. This past month I've tested out using my community WiFi (with a VPN) and my T-Mobile Hotspot, and it has worked very well. So I ditched the $120/month fee, and am listing my dish and equipment on EBay. Today someone sold my same equip, with less cable than I have, and without the hard-side carrying case/backpack to use it when traveling/camping, for 76% of the new price for that equipment. I figure if I want to re-up in the future, I can turn again to EBay and repurchase the same equipment. And by then, it will be even less expensive!
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Great video. I realized that the secret to making a million is making better investment. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc Not making up to a million before retirement is unfulfilled retirement.!!
I'm exploring different investment opportunities and would appreciate others' insights on this matter.
Nice video. Lot's of ways to save money these days. Some require that one is in good health as you may not be able to do some work around the home. Mowing the lawn can also save you money and not just in the work. Mow smart! Adjust you mower in the summer to it's highest height so the grass is taller. Taller grass has deeper roots and uses less water(tall grass gives shade to the roots and can resist damage from the hot sun easier). Mulch the clippings and don't bag them as the cuttings are 98% water and they can also feed the lawn with 20% of it's feed requirement. Water your lawn early in the morning(3am is best). Use waterless car wash for your vehicle and save water. You can purchase concentrated waterless car wash by the gallon that makes 16 gallons. Mix in a spray bottle and just spray and wipe. Use food coupons to also save on food costs. Buy frozen vegetables as they are almost as good as fresh and far less waste(less work too). You can open a bag of frozen and just cook what you need and put the rest back in the freezer. Plan you meals and limit the amount of food you keep frozen and chilled to what you use each week to prevent waste. For emergencies just keep some extra canned and dry foods in the panty that can last two weeks(eat or donate every year or two and replace). Canned vegetables have water and so serve as a food and drink in emergency situations. Dry foods are not so good for emergencies and it they require water and ability to cook. Most canned foods/meats are fully cooked and can be consumed cold and unheated. Smart thermostats are nice but no everyone wants to use apps and features. Key thing is to adjust the setting and learn to live with less heat and cooling. Set cooling to about 74 degrees and use a ceiling fan or room fan(if you even have A/C). Air cleaners(purifiers) also serve as a fan to move air! Set your heat to about 68 degrees in the winter and just dress warmer. Get water saving shower heads and also a water saving kit for your toilet to save water with each flush(you can flush twice as needed at times and still save water). When it really hot out and the sun is hitting the house close the curtains. You can also purchase curtains that are thick and designed to block heat and cold. Review all of your bills and look for areas to cut. Some cut internet, home phone, and cable TV and get a cell phone with unlimited plan. You can actually connect a phone to the TV and play videos and content using a special adaptor. They can also connect using wireless setting but that requires internet or Bluetooth and so it may work for you too. Keep a budget tracker and make note of everything you spend money on. Look at each item and ask if you really need it. Normally when we do a budget we only look at the major items. The small items count too. Think of a budget as an entire year divided by 12 months. Some items are perhaps once a month, some every two or three months, some are twice a year and others annually. A good budget considers everything including stamps. The idea of a budget is how much money is coming in and how much money is going out. Details matter in a budget as that's how you find items to cut or adjust. Last thing might be to downsize and consider selling the house and renting or purchase a condo unit. Homes require a lot of maintenance with roofs to replace and walls to paint as well as lawn care and more. An apartment or condo has less to deal with. Some even ditch the car and lose the requirement for car insurance and upkeep and use that money for public transport(walking). Perhaps live in area close to shopping and services. Not possible for some and in some areas not easy. Really it's a matter of age, health, and income and so it's something that has to be considered in the overall situation. If you keep you home and it has monthly payments perhaps pay extra principial and save on interest(only works for some). Paying off a home(quicker) is a long term investment that can save you money later by reducing the time left on the loan. Just a few tips. Myabe some typos!
Tip: Get rid of "but maybe I'll need it" stuff!
I am retiring May 31. For the last 2+ years, I've had Starlink - necessary for my WFH FT job in my rural location.! I own my Gen 2 equipment, and it is totally legal to sell it. A new owner can easily just re-register the modem and dish with Starlink , and they are off and running.
This past month I've tested out using my community WiFi (with a VPN) and my T-Mobile Hotspot, and it has worked very well. So I ditched the $120/month fee, and am listing my dish and equipment on EBay. Today someone sold my same equip, with less cable than I have, and without the hard-side carrying case/backpack to use it when traveling/camping, for 76% of the new price for that equipment. I figure if I want to re-up in the future, I can turn again to EBay and repurchase the same equipment. And by then, it will be even less expensive!
agree on getting rid of the "Maybe I will need it stuff"!
Screw a retirement journal. Track your expenses with a budget journal and you will have control of your finances forever.
both are very useful.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.