An experienced ethical hacker once offered me his services through the deep web and ever since I have been finding usual ways around everything on the Internet. This was all before my Cryptocurrency adventure so when I lost my entire bitcoin savings to a fraud escrow service. I quickly sought him out and he help me recover all my lost bitcoin. You can hire him for Bitcoin wallet recovery or any data recovery, Quantum Bitcoin Mining, Bitcoin Investment, website hacks, phone spying, change public records, email hacks, Credit score hacks and bank hacks. I am not sure if he’s talented or he works super hard to get shit done, quite resilient. You can talk to him discretely by email BINARYREAP3r @ gmail com
Not sure I'd agree with that. To use another appeal to authority to justify pre-existing opinion, Warren Buffett read a crazy amount of books on everything before buying stocks, so he would definitely disagree with that.
@@David-ud9ju even i wouldnt agree with this because u will end up making a decision without giving it much forethought and stocks is quite risky so without doing much research, if u just invest in any stock, you could also end up losing a lot of money
Seth's 12 Big wins so you can buy what you want and not go homeless 1) Automate your money system 2) Keep a great credit score 3) Use credit cards and bonuses 4) Contribute to retirement plans (get full match by employer, e.g. 5K (you) + 5K (free company money) = 10k saved 5) Pay your credit cards on time every time 6) Eliminate unnecessary subscriptions, opt for month to month when needed (cancel when done) 7) Focus on where you spend the most (cut costs in the most problematic areas) 8) Negotiate a raise 9) Do freelance work 10) Buy a home you can afford 11) Buy a vehicle you can afford 12) Allocate your capital
Don't need a credit score if you never borrow money, which is always advisable. Renting is always the better solution to buying a house because that deposit money can compound and make you more wealth than you'd end up with by buying. If you (and a partner) can save 10k a year, it is financially better to rent if you can get 7% or higher interest a year, which shouldn't be too difficult to average (assuming you save for 5 years and spend it all on a deposit and have a 25 year mortgage compared to renting for 30 years and that the cost of renting and buying per month is the same which is generally is). Also credit cards with cashback are terrible. You might get 0.5% cashback. Even if you manage to put 5k on it, that's £/$25 a year, which is pointless. For someone who says focus on macro vs micro, it's weird that he would recommed credit cards. Kinf os sounds like he doens't know what he's talking about...
@@David-ud9ju I'm not sure if maybe you aren't in the US but there is literally nothing you can do here without a credit score , employers now check that as well
I'm reading this book now. Half way through. So far it has given me the best straight forward information I needed to set up my finances and get started. I'm 21 years old so I feel ahead of the game from reading the book.
@@onweze1781 Hi, I didn't read the book, but from my own experience fixed cost is what is actually necessary and is part of your current lifestyle from month to month. As an example: I live with by my own in an apartment, which costs me 300$ (Panama), pay 30 for basic services, 30$ for internet, around 240$ for groceries for a whole month. Basically, every month I pay 600$ to get to the next month, but I earn 1,2k per month. That means my fixed cost bucket is around 50% of my income
I feel richer already! Lol, your woman's voice cracked me up. I love that saying: The best time to start investing was yesterday. The next best time is today.
An experienced ethical hacker once offered me his services through the deep web and ever since I have been finding usual ways around everything on the Internet. This was all before my Cryptocurrency adventure so when I lost my entire bitcoin savings to a fraud escrow service. I quickly sought him out and he help me recover all my lost bitcoin. You can hire him for Bitcoin wallet recovery or any data recovery, Quantum Bitcoin Mining, Bitcoin Investment, website hacks, phone spying, change public records, email hacks, Credit score hacks and bank hacks. I am not sure if he’s talented or he works super hard to get shit done, quite resilient. You can talk to him discretely by email BINARYREAP3r @ gmail com
Step 1: Rent a Bedroom instead of a whole place Step 2: Cook all of your food Step 3: Save everything Step 4: Take out conventional loan and put 20% down on a house. Step 5: Take extra profit from house and save that too Step 6: Repeat until 5-10 houses acquired. Step 7: Use all income houses make to begin paying them off one at a time: Exponential growth. Step 8: Save money from your work and paid off houses to buy higher earning place Step 9: Repeat as many times as desired.
The stock market have always and will always be a volatile market, that is why it is important to have proper research, analysis and strategy when investing
Great advice, i used to just watch youtube tutorials and videos,but still made losses when i traded on my own. luckily i came across and watched an interview on CNBC where the anchor kept mentioning "...Kathy Genelle Britton...". This prompted me to get in touch with her, her strategy and experience are what has made me so much profits these past months.
tomorrow has always been more important than today for me , that is why i have always studied and done analysis on what best to invest and when to invest. I learnt along the way that the best strategy to invest is to do it with a pro who knows the market structure. invest wisely and secure your future.
The best way to find that balance between saving and living is by investing. This way you get to have your saving intact and then live comfortably off the revenue coming in from your investments. Financial freedom is possible, you just need to know what to do and when to do it. I am a living testimony.
it's really nice to see someone else talk about Kathy Britton, she really has been my guardian angel in the market, helping me recover from the losses i made when i was still trading on my own,her strategies and experience has made my financial journey more fruitful.
Being rich means that you make a lot of money. Being wealthy means that you don't work for money. Money works for you. I would rather be wealthy than rich.
7:57 After watching this video last year, I was inspired to create several other bank accounts (free online, 7 days notice) with my bank. I opened a total of thirteen individual accounts for budgeting things like, car, holiday, medical, website costs, pocket money etc. On payday each month I transfer set amounts to each of those accounts. I'm delighted to say that it is the best piece of advice ever received. I'm debt free as of last month and looking forward to compounding my new savings while I sing the Abba hit _"Gimme, Gimme, Gimme the Swedish Investor, He takes us through darkness to the break of the day...."_
We use the "true wealth formula" of: 70% - Fixed Costs of living (goal is to get down to 50-60%) 10% - Giving (donating to charities) .... this is one I don't see many 'secular' investors focus on 10% - Savings 10% - Debt Snowball Payoff (if you have debt, pay one payment from the living account and then make additional payments from the debt account ... create the snowball)
Well said! I am also here to learn how to invest after listening to a lady on tv talk about the importance of investing and how she made 7 figures in 3 months, somehow the video taught me nothing and left me even more confused, I'm a newbie and I'm open to ideas on how to invest for retirement
I beg to differ on micro decisions not being where the battle is won. I once saw my sister clip so many coupons she paid almost nothing at the check out for a week's worth of groceries. She only shops on double coupon day. It was amazing. It was cheaper than buying generic. She's got it down.
The problem there is she effectively works a part time job to save money on groceries which is awesome! However, if she could automate a way to pay for her groceries via dividends or other investments than boom no more tirelessly clipping…
If you time on you current job costs 10 bucks per hour and you spent 2 hours on cutting the coupons to save 5 bucks you basically lose. Time off the job is presious, you can learn new skills, upgrade your work and get 5 dollars more for each work hour for the rest of your life. Coupons don't give you that. I am a programmer now, because I saved my time, not money and I get 10 times more money than 3years ago. A women who called me a bad household because I bought cooked food instead of do it myself still on the same place doing same little money and saving cents.
I agree. It's the Big Ticket items that really count. I don't advocate buying bottom of the range just to have to replace things more often (and which need more maintenance or energy to run). But sniff out what I like to call value-for-money/bang-for-buck - for everything: holidays, experiences, major purchases. This philosophy hasn't stopped me going to Japan, Sicily, South Africa on really nice 3-week holidays in the past few years. But we always flew when flights were near their cheapest, took time to get accommodation that was nice but good value, didn't eat out too much (but enough!). I think where I do agree with your sister is: what she's doing is *_reinforcing the right mentality_* - even if it's probably not great $/hr effective pay. I've always hated the phrase "look after the pennies - the pounds will look after themselves" - maybe ok for 100 years ago but not appropriate to the 21st century where we have such a consumerist. high-turnover economy and people have to invest in markets for their retirements....
What a great way to explain things, you sir, have a way with words that finally gels with me and i understand much more from your content than any other content creator
Checked 9 of 12 and I still have net asset over 3.5 million and growing. But I don't drink coffee and do shop at Costco with 2% money back on my Costco Anywhere credit card by Citibank. Life is good and should have over 5 million by time I'm ready to retire. Not flying first class but will fly business class on any flights over 8 hours.
Most newbies fail simply because they don't understand how the market works in general or in particular how the market relates to stock/forex or currency pair they entering. If a retail trades doesn't grasp what the market makers are doing and when they are doing it, the greatest strategy in the world will fall. For new traders the markets are like entering an F1 race before you've passed your drivers license test. One more advantage is the possibility to benefit from repetition. Without this type of strategy, you probably won't know what worked or why it worked and even if you did, it would be hard to repeat therefore for you need a perfect mentor to teach you perfectly to enable you invest and trade accurately on your own, which i highly recommend you Mr Hercules He guides me with the exact time frame to trade and now I just received my first withdrawals of $30k in my bank account today I'm very happy, my advice is for you to contact him he will guide you perfectly well, and thank me later, I guess this is a good way to show my heartfelt appreciation for literally breaking the chain of my financial debit when I needed it most, you can contact him on his email 📧 (elvishercules48@gmail.com
Just wanted to thank you again. I know how much work this must be for you. I dont have the time to read these so your vids are perfect. LIKE SUBSCRIBE AND SHARED!
This is really helpful! Thank you for that awesome advice! :) The difference between who you are and who you want to be is what you do. This is how we started our business, Cookie Munchers. Let me just share a quick story with you guys. :) We own a cookie shop business in our college town. When we first started it, we just graduated college and were living in our car with very little direction, just a huge passion to be successful. I started it out of a local bagel shop in their off hours at night with my boyfriend, Bran. It was a crazy experience but it worked! We became a success! And how we have our first storefront location in New Jersey and the second one in Florida! We started it to fund a year long backpacking trip around the world and to be successful while living the life of our dreams.
Ramit Sethi's approach addresses common financial fears and limiting beliefs, helping individuals develop the confidence and resilience to navigate financial challenges and make bold financial decisions.
I rent a flat that close enaugh to walk to my work, then I start to work remotely. Both options means you don't need a car. Driving home is a big waist of time and money. You can use this hours to learn or work or rest and save money, investing both give you huge benefits. I walk everything that less than 30 minutes from my house and take a bus or taxi in the rest of cases. Taxi is way less expensive than most of my friends pay for their cars and I can read when I go, and I will never kill someone or damage someone car and find out that insurance doesn't cover it. And buying a house is only a good option if prices are low, when I live in rented house I have flexibility to move out, from loud neighbors, to chose a cheaper appartment if I am off my job, and I don't pay for renovation, furniture, etc. Owner of appartment have to make it looks good, I only destroy it)) that's actually a really big amount of money as well. And I always chose good place with a park or now sea in less than 10 minutes from my place, the air in the flat is perfect and I have free exercise place, no need for gym payments. Just question each and every thing in your life, if people do this it doesn't means you have do it. People are stupid.
Are you investing yourself? I would enjoy hearing about strategies that you use yourself. From all the books you have read, what principles did you attach to your own investing?
Great win for me is having Credit cards on my fixed expenses which give instant cash back. In the UAE, there are banks which give: - 10% cashback on transportation spends (Petrol and public metro). Considering I spend $150 a month on petrol, I get back $15 which is invested directly. - 5% cashback on all telecom expenses (mobile + home internet). I spend around $330 a month on both together. So thats another $15 saved. 30$ a month saving and invested. I don't need to say how much that would be if I consistently do this for 20-30 years.
Time works for you. Started investing at 17. Checked a 1989 investment the other day - return 3.000% (inflation bites half of that off). Still did really well. And its not even very special given the time line.
@@TheSwedishInvestor 31 years is a very long time - so not sure its much better than just the markets chugging along. Its an index fund - but with rock bottom fees - and I still hold it. Was not a very advanced investor back then so looked for something easy to pay into. Think I paid into it for 4 or 5 years.
My take: 1) maximise your earnings - but not if the personal cost is not "good value". I've done way too much overtime in my life! 2) cut your cloth. Almost everyone I know could intelligently shave 10-20% off their expenditure without affecting quality of life - or often even standard of living - noticeably 3) invest the difference in trackers in tax-efficient wrappers - over the long run, the S&P500 is best (though the next decade looks a bit ropy....). Start as early as you can 4) learn to enjoy what's free or cheap in life: the walk in the woods, the barbeque, getting fit, cooking good food at home, laughs and interesting discussions with friends and family, podcasts, playing an instrument - rather than flashy, expensive status symbols 5) invest in yourself: broaden and deepen your knowledge and skills, eat well, keep fit I really do like his "go for the 85% solution". Lots of bang-for-buck there.
when you already have a family who got money got a nice university study in your pocket is very easy to say when you broke its just impossible to think
The best way to be rich is to start investing at a young age. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a great investing book for teens.
If you have a homestead and live well below your means and this becomes a disciplined lifestyle for you, you will achieve financial security much faster than most people. You must teach yourself how to improvise, invest the vast majority of your income, and produce a significant amount of what you need.
Can you go back making 5 takeaways about summarization of financial book or self-confidence also please put a RECAP TO IT SO THAT I can FULLY UNDERSTAND THE VIDEO. thanks.
Suggest you might want to explain the cost difference in investing in ETFs versus Target Date Funds. Personally, I’ve spent too many years investing in Target Date Funds to get mediocre results while portfolio managers get rich.
3. Personaly I use VISA KOHO. There is no fees, no interest and you get cashback. It's a rechargeable credit card and it's so easy to use. Why would I give my money to other people ( interest)? 8. I am not going to negociate a raise. I will take a part of my paycheck, invest it to be financially free.
I did not know a Stock from a Rock when I began many years ago. Now I have been building my own Mutual fund by looking at the worlds best Mutual Funds and copying their Portfolio holdings along with speculative stocks that may fizzle or indeed sizzle. You build a core position with a money making powerhouse stock like Apple; then you build up the rest of your fund with other companies.
I must say that I enjoyed it a lot. Ramit Sethi writes with no holds barred. I laughed out loud a couple of times while reading it, and it's really motivational too (hope some of it showed in this video too)
Most newbies fail simply because they don't understand how the market works in general or in particular how the market relates to stock/forex or currency pair they entering. If a retail trades doesn't grasp what the market makers are doing and when they are doing it, the greatest strategy in the world will fall. For new traders the markets are like entering an F1 race before you've passed your drivers license test. One more advantage is the possibility to benefit from repetition. Without this type of strategy, you probably won't know what worked or why it worked and even if you did, it would be hard to repeat therefore for you need a perfect mentor to teach you perfectly to enable you invest and trade accurately on your own, which i highly recommend you Mr Hercules He guides me with the exact time frame to trade and now I just received my first withdrawals of $30k in my bank account today I'm very happy, my advice is for you to contact him he will guide you perfectly well, and thank me later, I guess this is a good way to show my heartfelt appreciation for literally breaking the chain of my financial debit when I needed it most, you can contact him on his email 📧 (elvishercules48@gmail.com
Spending every dollar you have makes you hungry and keeps you out of your comfort zone, which leads to new ideas and ways to make more. But to me, planning put people in their comfort zone. 401k doesn't make sense with the inflation growth and interest rates. I think Kiyosaki and Dan Pena give the right inspiration.
What most people don't understand is that the cash back is their own money to begin with. The merchant charges a higher price to cover the transaction fee, which is later rebated to the credit card holder. If there is a different "cash" or "debit" price compared to the "credit card" price, then adjust accordingly. Always repay in full the credit card balance each month.
you create an automatic spending plan and keep it. thats why the first question was what do you define as rich. Most people would literally think to not be poor, to be out of debt, or to have financial freedom. I think thats why this book is geared towards beginners.
@@niro56 every transaction like shopping gives me some points which can be redeemed as money after accumulating. It would be just 1-2% money worth of points on that respective transaction.
Being rich vs. wealthy If you’re rich, you have a high current income. But being wealthy is something different - wealth is not visible. It’s the money that you have that’s not spent. It’s the optionality to buy or do something at a future time. Being rich offers you opportunities in the short-term, but being wealthy provides you the flexibility of having more of the items you want - freedom, time, possessions - in the future. Read Morgan Housel's The Psychology of Money.
Since for most low income people food related expenses make up the majority of their monthly expenses, cutting down on high frequency (I drink coffee 2-3 times a day, making it more than 60-80 times a month) expenses such as $3 coffees does make it a macro decision. Cutting coffee expenses in half results in $1080 to $1440 of saving per year, while drinking the same amount of coffee. I think the author fails to compute the effect of saving on very frequent but low cost things.
Ground coffee costs $0.13 per serving USA. Here in Mexico, and to my taste much better, fresh from the farmer coffee is $0.06 per serving. To my past cubicle self: use coffee breaks as meditative process to brew one-off cup of coffee, simply using hot water kettle, reusable filter and fresh ground coffee.
thanks for the video, I know that majority would like your videos without background music but now that it doesn't have any I can hear static feedback.(not sure if it's just me)
Thank you for this feedback Mike Angelo Molina! Is it throughout the whole video that you have this audio issue? Or a specific part of it? If you can point to a specific time in the video when you hear it, that would help me improve future videos 👍
Thank you so much for the very interesting videos I remember 🐖 piggy 🏦 banks long time ago like the one in your video I am a pensioner and find your videos very interesting if only we knew this knowledge from 🏫 or college or even university but we unfortunately learnt it to late in our older years the younger generation are very they the knowledge on their finger tips thanks to videos and computers and Google with the information one needs to learn today much more easier today thank you so much @ Swedish Investing👍👍😀😀❤️❤️🌹🌹
$6000 on shoes a year which means average $500/month and taking public transport. You can get a decent car for $200-$300/month plus ~200 on insurance. Saving time to have your own car instead of taking public transport with same amount of money. I dont think thats financially responsible
It is for her (whomever she is) because buying shoes is more important than owning a car. But honestly for me I would rather have my own car and way of going. Personal finance really is personal.
most of those 12 are still small wins. you won't get rich from compound interest. you'll barely have enough money to retire. you need to dramatically increase the value you can provide to others and monetise it. that's the only way to get rich.
@@АртемЗаянчковский-и9ъ yes I do trade, I use a trading platform that I was told about by a friend and it really is profitable. if you're interested I will link you to an expert trader from the platform so he can put you through necessary procedures to begin basic trading okay!!!
@@harveya.hendrix5647 Thanks bro, im from Europe and i had been chosen a good broker for starting. Im paper trading right now, but maybe in january or february will open an account on 500$ TradeZero just for learning, nothing special. Trough the course will add more money and will trade like real professional, but need some practise) Maybe in the next year(August or whatever) will go to prop trading firm in Poland just in case to be full dedicated. What do u think about this firms? Maybe u are in Europe too and can you tip some good trading firms in Poland? Thank you in advance!)
💰💵This is an excellent resource for anyone looking to improve their financial literacy and take control of their money. Ramit's practical and straightforward advice on how to save, invest, and earn more money is refreshing and actionable. I'm curious to know if you've read this book or implemented any of Ramit's advice in your own financial life. If so, how has it impacted you? Have you seen any improvements in your financial situation as a result? I'd love to hear from you in the comments and share our experiences and insights. 📜
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The FIRE playlist (Financial Independence, Retire Early): bit.ly/38692nb
This is based on the second edition, right?
An experienced ethical hacker once offered me his services through the deep web and ever since I have been finding usual ways around everything on the Internet. This was all before my Cryptocurrency adventure so when I lost my entire bitcoin savings to a fraud escrow service. I quickly sought him out and he help me recover all my lost bitcoin. You can hire him for Bitcoin wallet recovery or any data recovery, Quantum Bitcoin Mining, Bitcoin Investment, website hacks, phone spying, change public records, email hacks, Credit score hacks and bank hacks. I am not sure if he’s talented or he works super hard to get shit done, quite resilient. You can talk to him discretely by email BINARYREAP3r @ gmail com
"It’s more important to get started than to spend an exhaustive amount of time researching". I think this is a beautiful quotes from the book
Beautiful
Decision paralysis
Not sure I'd agree with that. To use another appeal to authority to justify pre-existing opinion, Warren Buffett read a crazy amount of books on everything before buying stocks, so he would definitely disagree with that.
@@David-ud9ju even i wouldnt agree with this because u will end up making a decision without giving it much forethought and stocks is quite risky so without doing much research, if u just invest in any stock, you could also end up losing a lot of money
I totally do not agree with thus.
Seth's 12 Big wins so you can buy what you want and not go homeless
1) Automate your money system
2) Keep a great credit score
3) Use credit cards and bonuses
4) Contribute to retirement plans (get full match by employer, e.g. 5K (you) + 5K (free company money) = 10k saved
5) Pay your credit cards on time every time
6) Eliminate unnecessary subscriptions, opt for month to month when needed (cancel when done)
7) Focus on where you spend the most (cut costs in the most problematic areas)
8) Negotiate a raise
9) Do freelance work
10) Buy a home you can afford
11) Buy a vehicle you can afford
12) Allocate your capital
Very nice and concise information! Thank you for sharing Elvin!
Don't need a credit score if you never borrow money, which is always advisable. Renting is always the better solution to buying a house because that deposit money can compound and make you more wealth than you'd end up with by buying. If you (and a partner) can save 10k a year, it is financially better to rent if you can get 7% or higher interest a year, which shouldn't be too difficult to average (assuming you save for 5 years and spend it all on a deposit and have a 25 year mortgage compared to renting for 30 years and that the cost of renting and buying per month is the same which is generally is).
Also credit cards with cashback are terrible. You might get 0.5% cashback. Even if you manage to put 5k on it, that's £/$25 a year, which is pointless. For someone who says focus on macro vs micro, it's weird that he would recommed credit cards. Kinf os sounds like he doens't know what he's talking about...
@@David-ud9ju I'm not sure if maybe you aren't in the US but there is literally nothing you can do here without a credit score , employers now check that as well
@@David-ud9ju the most basic cash back credit card gives you 2% not .5%.
I'm reading this book now. Half way through. So far it has given me the best straight forward information I needed to set up my finances and get started. I'm 21 years old so I feel ahead of the game from reading the book.
I'm 21 now how's the journey, did the book help?
@@hrothowedgaw8173 it did! I have an active savings account and budget that's easy to follow. I highly recommend the book.
I'm 21 too now reading it. Share more books pls
Can you explain what he meant by fixed cost
@@onweze1781 Hi, I didn't read the book, but from my own experience fixed cost is what is actually necessary and is part of your current lifestyle from month to month. As an example: I live with by my own in an apartment, which costs me 300$ (Panama), pay 30 for basic services, 30$ for internet, around 240$ for groceries for a whole month. Basically, every month I pay 600$ to get to the next month, but I earn 1,2k per month. That means my fixed cost bucket is around 50% of my income
I feel richer already! Lol, your woman's voice cracked me up. I love that saying: The best time to start investing was yesterday. The next best time is today.
Haha glad you liked it GenExDividendInvestor! 😁 Then it may return in the future ... 😏
An experienced ethical hacker once offered me his services through the deep web and ever since I have been finding usual ways around everything on the Internet. This was all before my Cryptocurrency adventure so when I lost my entire bitcoin savings to a fraud escrow service. I quickly sought him out and he help me recover all my lost bitcoin. You can hire him for Bitcoin wallet recovery or any data recovery, Quantum Bitcoin Mining, Bitcoin Investment, website hacks, phone spying, change public records, email hacks, Credit score hacks and bank hacks. I am not sure if he’s talented or he works super hard to get shit done, quite resilient. You can talk to him discretely by email BINARYREAP3r @ gmail com
Step 1: Rent a Bedroom instead of a whole place
Step 2: Cook all of your food
Step 3: Save everything
Step 4: Take out conventional loan and put 20% down on a house.
Step 5: Take extra profit from house and save that too
Step 6: Repeat until 5-10 houses acquired.
Step 7: Use all income houses make to begin paying them off one at a time: Exponential growth.
Step 8: Save money from your work and paid off houses to buy higher earning place
Step 9: Repeat as many times as desired.
Haha, well I don’t think there’s a million Bull Gates walking around, but there are millions of real estate investors walking around. Your pick :)
This is the one. Thanks
@@eddyhall1328 No problem man.
@@eddyhall1328 Of course!
@@High_Rate136 how do you know that house has value? It’s not as easy as finding a home then boom , growth.
Money without time is wortless
Time without money is useless
Balance both 👍
I use
50%(Fixed Costs)
10%(Guilt-Free Spending)
30%(Investing)
10%(Savings)
Also thought 10% on investments is a bit low. 30% is a good strategy target.
For me its
Savings: 20%
Wants: 30% (Maximum, if i don't spend it all which is mostly the case i will put the remaining to investing)
Needs: 50%
The stock market have always and will always be a volatile market, that is why it is important to have proper research, analysis and strategy when investing
Great advice, i used to just watch youtube tutorials and videos,but still made losses when i traded on my own. luckily i came across and watched an interview on CNBC where the anchor kept mentioning "...Kathy Genelle Britton...". This prompted me to get in touch with her, her strategy and experience are what has made me so much profits these past months.
tomorrow has always been more important than today for me , that is why i have always studied and done analysis on what best to invest and when to invest.
I learnt along the way that the best strategy to invest is to do it with a pro who knows the market structure. invest wisely and secure your future.
The best way to find that balance between saving and living is by investing. This way you get
to have your saving intact and then live comfortably off the revenue coming in from
your investments. Financial freedom is possible, you just need to know
what to do and when to do it. I am a living testimony.
it's really nice to see someone else talk about Kathy Britton, she really has been my guardian angel in the market, helping me recover from the losses i made when i was still trading on my own,her strategies and experience has made my financial journey more fruitful.
It's also important to ignore bots comments from scammers 😌
Being rich means that you make a lot of money. Being wealthy means that you don't work for money. Money works for you. I would rather be wealthy than rich.
Definitely agreed! 👍
Semantics
you made that up
Why not both?
Well you have to pass through being rich to be wealthy
Solid advice!
Books are surely the best way to learn. So much information is available out there, yet we don't take advantage of it most of the time!
Lol, you are on all the same channels as me 😂
Absolutely true.
Never seen your channel before - Been watching you for only one hour and you easily are now my favourite you-tuber of all time
7:57 After watching this video last year, I was inspired to create several other bank accounts (free online, 7 days notice) with my bank.
I opened a total of thirteen individual accounts for budgeting things like, car, holiday, medical, website costs, pocket money etc. On payday each month I transfer set amounts to each of those accounts.
I'm delighted to say that it is the best piece of advice ever received. I'm debt free as of last month and looking forward to compounding my new savings while I sing the Abba hit _"Gimme, Gimme, Gimme the Swedish Investor, He takes us through darkness to the break of the day...."_
Read the book 15 years ago. Bought my house 🏡 using my 401k. It works.
We use the "true wealth formula" of:
70% - Fixed Costs of living (goal is to get down to 50-60%)
10% - Giving (donating to charities) .... this is one I don't see many 'secular' investors focus on
10% - Savings
10% - Debt Snowball Payoff (if you have debt, pay one payment from the living account and then make additional payments from the debt account ... create the snowball)
Sounds like info from Dave Ramsey 🙂
3:45 "MORE IS LOST FROM INDecision than from mediocre decisions"
A lie
Been watching, listening, and paying attention to all of predictions and forecasts since early Covid. He hasn't disappointed yet 👌
Well said! I am also here to learn how to invest after listening to a lady on tv talk about the importance of investing and how she made 7 figures in 3 months, somehow the video taught me nothing and left me even more confused, I'm a newbie and I'm open to ideas on how to invest for retirement
@@BrunoLuke Despite the economic crisis and the rate of unemployment now is the best time to invest
I beg to differ on micro decisions not being where the battle is won. I once saw my sister clip so many coupons she paid almost nothing at the check out for a week's worth of groceries. She only shops on double coupon day. It was amazing. It was cheaper than buying generic. She's got it down.
The problem there is she effectively works a part time job to save money on groceries which is awesome! However, if she could automate a way to pay for her groceries via dividends or other investments than boom no more tirelessly clipping…
@@Yalc4194 I see your point.
If you time on you current job costs 10 bucks per hour and you spent 2 hours on cutting the coupons to save 5 bucks you basically lose.
Time off the job is presious, you can learn new skills, upgrade your work and get 5 dollars more for each work hour for the rest of your life. Coupons don't give you that.
I am a programmer now, because I saved my time, not money and I get 10 times more money than 3years ago. A women who called me a bad household because I bought cooked food instead of do it myself still on the same place doing same little money and saving cents.
I agree. It's the Big Ticket items that really count. I don't advocate buying bottom of the range just to have to replace things more often (and which need more maintenance or energy to run). But sniff out what I like to call value-for-money/bang-for-buck - for everything: holidays, experiences, major purchases. This philosophy hasn't stopped me going to Japan, Sicily, South Africa on really nice 3-week holidays in the past few years. But we always flew when flights were near their cheapest, took time to get accommodation that was nice but good value, didn't eat out too much (but enough!). I think where I do agree with your sister is: what she's doing is *_reinforcing the right mentality_* - even if it's probably not great $/hr effective pay. I've always hated the phrase "look after the pennies - the pounds will look after themselves" - maybe ok for 100 years ago but not appropriate to the 21st century where we have such a consumerist. high-turnover economy and people have to invest in markets for their retirements....
Love you chanel straight to the point no fake giveawys or somerhing
Love your videos man keep it up! You are a legend
I'm a big fan of ur work, love the channel, love the videos, i just hope u keep doing this in the long term.
I'm 21
I have all these accounts except credit card
I'm lucky I've been learning this things now.
What a great way to explain things, you sir, have a way with words that finally gels with me and i understand much more from your content than any other content creator
Under rated Channel !
i love this channel omg better than some degrees
Checked 9 of 12 and I still have net asset over 3.5 million and growing. But I don't drink coffee and do shop at Costco with 2% money back on my Costco Anywhere credit card by Citibank. Life is good and should have over 5 million by time I'm ready to retire. Not flying first class but will fly business class on any flights over 8 hours.
Most newbies fail simply because they don't understand how the market works in general or in particular how the market relates to stock/forex or currency pair they entering. If a retail trades doesn't grasp what the market makers are doing and when they are doing it, the greatest strategy in the world will fall. For new traders the markets are like entering an F1 race before you've passed your drivers license test. One more advantage is the possibility to benefit from repetition. Without this type of strategy, you probably won't know what worked or why it worked and even if you did, it would be hard to repeat therefore for you need a perfect mentor to teach you perfectly to enable you invest and trade accurately on your own, which i highly recommend you Mr Hercules He guides me with the exact time frame to trade and now I just received my first withdrawals of $30k in my bank account today I'm very happy, my advice is for you to contact him he will guide you perfectly well, and thank me later, I guess this is a good way to show my heartfelt appreciation for literally breaking the chain of my financial debit when I needed it most, you can contact him on his email 📧
(elvishercules48@gmail.com
Just wanted to thank you again. I know how much work this must be for you. I dont have the time to read these so your vids are perfect. LIKE SUBSCRIBE AND SHARED!
Books by Jack Bogle Would be Great.. Please
This is really helpful! Thank you for that awesome advice! :) The difference between who you are and who you want to be is what you do. This is how we started our business, Cookie Munchers. Let me just share a quick story with you guys. :) We own a cookie shop business in our college town. When we first started it, we just graduated college and were living in our car with very little direction, just a huge passion to be successful. I started it out of a local bagel shop in their off hours at night with my boyfriend, Bran. It was a crazy experience but it worked! We became a success! And how we have our first storefront location in New Jersey and the second one in Florida! We started it to fund a year long backpacking trip around the world and to be successful while living the life of our dreams.
Hope you gain much more success in future. God Bless!!
Cookies! Yes please =). Traveling the world and giving out cookies is a great life.
Your recap is really qualitative! I subscribed :)
Welcome aboard!
Ramit Sethi's approach addresses common financial fears and limiting beliefs, helping individuals develop the confidence and resilience to navigate financial challenges and make bold financial decisions.
Your videos are very inspiring and informative
Rich people have money. Wealthy people have time. We have time and money.
What a rich life to me is?
Rich life to me means being happy until i die.
Being a happy dad, happy husband, and a happy son.
First! Fantastic content. Thank you
Cheers CryptoRepublic! 🙌
I rent a flat that close enaugh to walk to my work, then I start to work remotely. Both options means you don't need a car. Driving home is a big waist of time and money. You can use this hours to learn or work or rest and save money, investing both give you huge benefits. I walk everything that less than 30 minutes from my house and take a bus or taxi in the rest of cases. Taxi is way less expensive than most of my friends pay for their cars and I can read when I go, and I will never kill someone or damage someone car and find out that insurance doesn't cover it.
And buying a house is only a good option if prices are low, when I live in rented house I have flexibility to move out, from loud neighbors, to chose a cheaper appartment if I am off my job, and I don't pay for renovation, furniture, etc. Owner of appartment have to make it looks good, I only destroy it)) that's actually a really big amount of money as well.
And I always chose good place with a park or now sea in less than 10 minutes from my place, the air in the flat is perfect and I have free exercise place, no need for gym payments.
Just question each and every thing in your life, if people do this it doesn't means you have do it. People are stupid.
THANK YOU SO MUCH FOR SHARING US 💰🔑
Are you investing yourself? I would enjoy hearing about strategies that you use yourself. From all the books you have read, what principles did you attach to your own investing?
Probably not otherwise he wouldn't be making videos
Great win for me is having Credit cards on my fixed expenses which give instant cash back.
In the UAE, there are banks which give:
- 10% cashback on transportation spends (Petrol and public metro). Considering I spend $150 a month on petrol, I get back $15 which is invested directly.
- 5% cashback on all telecom expenses (mobile + home internet). I spend around $330 a month on both together. So thats another $15 saved.
30$ a month saving and invested. I don't need to say how much that would be if I consistently do this for 20-30 years.
Time works for you. Started investing at 17. Checked a 1989 investment the other day - return 3.000% (inflation bites half of that off). Still did really well. And its not even very special given the time line.
Awesome to hear it Mei Bing! A 30-bagger is quite uncommon, nice job! 🙌
@@TheSwedishInvestor 31 years is a very long time - so not sure its much better than just the markets chugging along. Its an index fund - but with rock bottom fees - and I still hold it. Was not a very advanced investor back then so looked for something easy to pay into. Think I paid into it for 4 or 5 years.
Excellent! Many thanks!
👏
Great review! I love the drawings, narration and the character voices. I'm gonna pick up the book soon. Thank you!
My take:
1) maximise your earnings - but not if the personal cost is not "good value". I've done way too much overtime in my life!
2) cut your cloth. Almost everyone I know could intelligently shave 10-20% off their expenditure without affecting quality of life - or often even standard of living - noticeably
3) invest the difference in trackers in tax-efficient wrappers - over the long run, the S&P500 is best (though the next decade looks a bit ropy....). Start as early as you can
4) learn to enjoy what's free or cheap in life: the walk in the woods, the barbeque, getting fit, cooking good food at home, laughs and interesting discussions with friends and family, podcasts, playing an instrument - rather than flashy, expensive status symbols
5) invest in yourself: broaden and deepen your knowledge and skills, eat well, keep fit
I really do like his "go for the 85% solution". Lots of bang-for-buck there.
when you already have a family who got money got a nice university study in your pocket is very easy to say when you broke its just impossible to think
Thank You!
The best way to be rich is to start investing at a young age. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a great investing book for teens.
If you have a homestead and live well below your means and this becomes a disciplined lifestyle for you, you will achieve financial security much faster than most people. You must teach yourself how to improvise, invest the vast majority of your income, and produce a significant amount of what you need.
Very good summary, thank you
⭐️
Can you go back making 5 takeaways about summarization of financial book or self-confidence also please put a RECAP TO IT SO THAT I can FULLY UNDERSTAND THE VIDEO. thanks.
Suggest you might want to explain the cost difference in investing in ETFs versus Target Date Funds. Personally, I’ve spent too many years investing in Target Date Funds to get mediocre results while portfolio managers get rich.
Thank you brother for video😊🤗
I hope one day you do a video about Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence by Jacob Lund.
if you don't make that much and don't travel often but do travel sometimes. Chase freedom and chase sapphire are the best combos
3. Personaly I use VISA KOHO. There is no fees, no interest and you get cashback. It's a rechargeable credit card and it's so easy to use. Why would I give my money to other people ( interest)?
8. I am not going to negociate a raise. I will take a part of my paycheck, invest it to be financially free.
I would always try to negotiate a raise every 1-2 years or so, then throw it into your investments to speed up the process.
What are some the best investments to use
Great info...thx!😎
Thank you 713skywalker! 😁
I love the ladies voice!
haha din kvinnoröstimitation är spot on 👌😂
I did not know a Stock from a Rock when I began many years ago. Now I have been building my own Mutual fund by looking at the worlds best Mutual Funds and copying their Portfolio holdings along with speculative stocks that may fizzle or indeed sizzle. You build a core position with a money making powerhouse stock like Apple; then you build up the rest of your fund with other companies.
Thanks for sharing this! 👍 I haven't read this book but heard about it on another TH-cam video recently.
I must say that I enjoyed it a lot. Ramit Sethi writes with no holds barred. I laughed out loud a couple of times while reading it, and it's really motivational too (hope some of it showed in this video too)
Can you please give an overall summary of the book named ' The Secrets of Never Ending Wealth '.
Most newbies fail simply because they don't understand how the market works in general or in particular how the market relates to stock/forex or currency pair they entering. If a retail trades doesn't grasp what the market makers are doing and when they are doing it, the greatest strategy in the world will fall. For new traders the markets are like entering an F1 race before you've passed your drivers license test. One more advantage is the possibility to benefit from repetition. Without this type of strategy, you probably won't know what worked or why it worked and even if you did, it would be hard to repeat therefore for you need a perfect mentor to teach you perfectly to enable you invest and trade accurately on your own, which i highly recommend you Mr Hercules He guides me with the exact time frame to trade and now I just received my first withdrawals of $30k in my bank account today I'm very happy, my advice is for you to contact him he will guide you perfectly well, and thank me later, I guess this is a good way to show my heartfelt appreciation for literally breaking the chain of my financial debit when I needed it most, you can contact him on his email 📧
(elvishercules48@gmail.com
Spending every dollar you have makes you hungry and keeps you out of your comfort zone, which leads to new ideas and ways to make more. But to me, planning put people in their comfort zone. 401k doesn't make sense with the inflation growth and interest rates. I think Kiyosaki and Dan Pena give the right inspiration.
Paypal Mastercard 2% cash back on everything and no foreign transaction fees
What most people don't understand is that the cash back is their own money to begin with.
The merchant charges a higher price to cover the transaction fee, which is later rebated to the credit card holder.
If there is a different "cash" or "debit" price compared to the "credit card" price, then adjust accordingly.
Always repay in full the credit card balance each month.
please make a video on "The value migration".....great book.
8:42 - liked the graph
Working a Job pay your bills
Having a business makes you rich
Investing makes you wealthy
When you are from Costa Rica 😂😂, thank you for this summary.
This book is how not to be poor. Not how to be rich.
you create an automatic spending plan and keep it. thats why the first question was what do you define as rich. Most people would literally think to not be poor, to be out of debt, or to have financial freedom. I think thats why this book is geared towards beginners.
I'm from India. And here business money-back credit card has very good cashback points
example please, because it's more or less the same deals everywhere else
@@niro56 every transaction like shopping gives me some points which can be redeemed as money after accumulating. It would be just 1-2% money worth of points on that respective transaction.
In Zimbabwe we do not have credit scores and all, its all cash based.
Being rich vs. wealthy
If you’re rich, you have a high current income. But being wealthy is something different - wealth is not visible. It’s the money that you have that’s not spent. It’s the optionality to buy or do something at a future time.
Being rich offers you opportunities in the short-term, but being wealthy provides you the flexibility of having more of the items you want - freedom, time, possessions - in the future.
Read Morgan Housel's The Psychology of Money.
Since for most low income people food related expenses make up the majority of their monthly expenses, cutting down on high frequency (I drink coffee 2-3 times a day, making it more than 60-80 times a month) expenses such as $3 coffees does make it a macro decision. Cutting coffee expenses in half results in $1080 to $1440 of saving per year, while drinking the same amount of coffee. I think the author fails to compute the effect of saving on very frequent but low cost things.
Ground coffee costs $0.13 per serving USA. Here in Mexico, and to my taste much better, fresh from the farmer coffee is $0.06 per serving. To my past cubicle self: use coffee breaks as meditative process to brew one-off cup of coffee, simply using hot water kettle, reusable filter and fresh ground coffee.
英語はよくわかりませんが、スプレッドシートから学ぶことができます。ありがとう。
I'm in.
Loving that female voice, 2 mins in brilliant! You found that way too easy haha
my thoughts exactly
I've had a credit card before but never had the need to use it. I have an idea how to use it properly but is it really necessary?
Yes, there is too small of an amount: when you have too little to buy anything. My broker has a minimum order size put at 10$ on NYSE
I haven't seen Ramit Sethi in any list of billionaires, or even millionaires.
A quick Google search says that his net worth is $20 million +, but I don't know how reliable that source is (thewealthrecord.com)
Superb video
Cheers milind bidve! 🙌
thanks for the video, I know that majority would like your videos without background music but now that it doesn't have any I can hear static feedback.(not sure if it's just me)
Thank you for this feedback Mike Angelo Molina! Is it throughout the whole video that you have this audio issue? Or a specific part of it? If you can point to a specific time in the video when you hear it, that would help me improve future videos 👍
@@TheSwedishInvestor disregard the comment, I did try it again and seems to be fine now. I guess It's just my bose headset after all. I'm very sorry.
It would be cool to have a way to download these little charts he’s drawing up
Thanks
I think more than 50% of us (your audience) pick our own stocks and bonds
Thank you so much for the very interesting videos I remember 🐖 piggy 🏦 banks long time ago like the one in your video I am a pensioner and find your videos very interesting if only we knew this knowledge from 🏫 or college or even university but we unfortunately learnt it to late in our older years the younger generation are very they the knowledge on their finger tips thanks to videos and computers and Google with the information one needs to learn today much more easier today thank you so much @ Swedish Investing👍👍😀😀❤️❤️🌹🌹
This is so true
Thank you
The voice for the girlfriend at 01:47 was amazing 🤣
this stuff will not make you rich. This will make you survive.
Love you from Pakistan
$6000 on shoes a year which means average $500/month and taking public transport. You can get a decent car for $200-$300/month plus ~200 on insurance. Saving time to have your own car instead of taking public transport with same amount of money. I dont think thats financially responsible
It is for her (whomever she is) because buying shoes is more important than owning a car. But honestly for me I would rather have my own car and way of going. Personal finance really is personal.
@@sofondadavis5028 and I would prefer neither but everyone is different.
Don't forget the cost of gas and car maintenance
hey do you sell posters of these videos?
most of those 12 are still small wins. you won't get rich from compound interest. you'll barely have enough money to retire. you need to dramatically increase the value you can provide to others and monetise it. that's the only way to get rich.
I`m too late, but thank you for this video bro!)
it is never too late! :)
it really isn't late to start off with trading
@@harveya.hendrix5647 you are right) Im studying how to trade now, its really interesting niche) Do you trade?
@@АртемЗаянчковский-и9ъ yes I do trade, I use a trading platform that I was told about by a friend and it really is profitable. if you're interested I will link you to an expert trader from the platform so he can put you through necessary procedures to begin basic trading okay!!!
@@harveya.hendrix5647 Thanks bro, im from Europe and i had been chosen a good broker for starting. Im paper trading right now, but maybe in january or february will open an account on 500$ TradeZero just for learning, nothing special. Trough the course will add more money and will trade like real professional, but need some practise) Maybe in the next year(August or whatever) will go to prop trading firm in Poland just in case to be full dedicated. What do u think about this firms? Maybe u are in Europe too and can you tip some good trading firms in Poland? Thank you in advance!)
Are there good credit cards in Denmark?
He asked about good credit cards where you live. I use PayPal credit card in USA for 2% cash back on everything.
Awesome
You mention Volvo when reffering to a nice car, but why not Tiger when reffering to a nice suit :D
ps. Your videos are great
EQ has the highest interest rate for tfsa!
💰💵This is an excellent resource for anyone looking to improve their financial literacy and take control of their money. Ramit's practical and straightforward advice on how to save, invest, and earn more money is refreshing and actionable.
I'm curious to know if you've read this book or implemented any of Ramit's advice in your own financial life. If so, how has it impacted you? Have you seen any improvements in your financial situation as a result? I'd love to hear from you in the comments and share our experiences and insights. 📜
Hej @theswedishinvestor can you give exemples in takeaway n3 regarding the cards that gives you rewards in Sweden?