Top 10 Mind Blowing 🤯 Money Stats [That Will Make You Rich!]
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- เผยแพร่เมื่อ 22 ก.ค. 2021
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The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW!
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Since watching this video I have really put the pedal to the floor on retirement savings this past year......set my automatic withdrawals for 2023 to max my 401k and roth ira accounts. I make under $100k a year.....paid off our vehicle and my wife is babysitting 1 child from church which has helped me pull the trigger to max everything out.
Most newbies either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
I remember how astounded I was the first year my net worth increased by more than my gross annual salary. I redid the figures over and over!
This! This just happened for me this past year. I don't currently own a home, so it's not some wild appreciation from the housing market. It may be a 2020 fluke, but I've continued saving and it feels good to have reached that critical mass where my investments are making a notable difference.
This happened to me this year! I was pretty excited to hit this milestone :)
If I counted my home equity, which I don’t, I would be at around 1.5 times. Last year I made around a quarter of my gross income on 401k, HSA and Roth IRA. My goal is to be at one third in 2 years.
@@cletokings4302 are you only calculating based on dividends and interest or are you including market value changes? The market value increases were insane last year and they are still going strong this year, but that won’t last forever.
What a fantastic goal to have, Thanks for inspiring those of us new to thinking about finances.
My gut check was when I realized I have a huge car payment and I’m putting nothing into my own retirement to build wealth. I changed due to programs like yours. Now my car is owned, I have no debt and I have built a nice nest egg for myself (I save 40% of my income) and I’m on my way to becoming a millionaire in 10 years. Being wealthy is so much better than looking wealthy!
Great response Carie.
I LOVE seeing comments like this! Fantastic work!
You got that right! Best wishes from an old retired guy. 😎
Omg how do you save 40% of your income?
@@razojacqueline I make a large income so it’s easier for me I’m sure- plus I own a business and I’m able to do a back door owner K- so it helps! Plus I use Fundrise, M1Finance, Vaulted and VIO for my savings
1:36 1. 60% of Americans can’t come up with $1,000 for an emergency
3:50 2. 47% of Americans carry a credit card balance
5:46 3. New cars lose half of their value in the first four years
9:42 4. The average savings rate in America is 8.5%
14:47 5. Only 27% of Americans work in their field of study
20:55 6. It takes about 10,000 hours to master a skill
24:54 7. 80% of millionaires are first generation
29:25 8. Most people don’t become millionaires until age 49
34:05 9. Retiring Americans have only saved $172,000
36:40 10. $1 can grow 88x over (45 years)
Between y’all and Dave Ramsey I’ve never felt so empowered knowing other people also get excited thinking of the possibility of building wealth. Can’t wait to be the proof for future clients that you can build wealth with low income. Consistency is powerful.
Check out “your money your wealth”, also changed my whole attitude toward saving/investing.
Check out minority mindset as well
Finished school and started my first salaried job this month and I’m so glad I found this channel. can’t wait to start my wealth building journey on the right foot thanks to you guys
Nice, congrats!
Man, you are at the right place. Invest early, invest often, invest consistently. You have time on your side, blink and you'll be 45 with $1 mill in your sites. Best of luck!
I envy you finding this information so quickly. I didn't figure this stuff out until I was 40.
Great to have this info beforehand. Some of us learned the hard way. You’re on to a great start!
Amen. Came to the US from Jamaica with $400 and a scholarship. When success in America rains it pours but you need to sacrifice and be strategic. I started about 25. 20-25 was challenging but once you break through that wall...
I've never heard it put that way, but you are right about success. The harder I work the luckier I am.
I wish more could read what you wrote. You have to work hard but so many can be successful. So many want free money and don’t want to work for it.
These guys are phenomenal. Hands down, one of the best investing/finance shows on TH-cam.
Thank you and we agree 😉👍
Engineering is a great field. I actually increased my net worth while in undergrad by going to a small (reasonably priced) state school and working internships in the summers.
The reason I love this channel is it gets me PUMPED to keep saving. I'm on the path to FIRE and already hit my annual net worth target (5 months early)!
Love the show and thanks for the continuously great content. 😃🔥🔥
Totally agree. I've gone through the Ramsey courses, read the books, but there are still things he preaches that I disagree with. I owe my independence to Mr. Ramsey, but I really wish I would've found these guys sooner. I really like their approach to growing wealth much better. And I've really upped my savings since discovering Brian and Bo!
I genuinely feel like coming across your channel was the first crucial step in bringing my financial life back in order. Thank you!
I always been a saver, I've made it by age 45. Two years later I 1.5x . What really helped was being divorced for past 15 years, it really 10x my net worth. I hope to 10x it again in next 15 years.
If you miss the top 10 best days in the stock market, your overall return is cut in half.
My favorite mind-blowing money stat.
It's over at least a 20 year period. Fidelity studied the market from 1980 to 2018 and found this result. JP Morgan studied the market from Jan. 1, 1999, to Dec. 31, 2018 and found this result.
Fidelity disregarded taxes and fees, for simplicity, on a hypothetical $10,000 investment into an S&P 500 index fund. So there's more details you could dig into. But all in all, stay in the market & don't try to time the market.
I love that one too - we will get this in the 2.0 👍
@@MoneyGuyShow
Look fwd to it! 💚
U r so right
I really appreciate you guys. Ilistening to you over and over to help transform my thinking. I hope to become an automatic wealth creator instead of a consumer.
My mind is blown!!! I feel richer each time I watch one of your episodes. Thank you for the great content.
Please do a video on cash managment plans, I want to move on from strict budgeting.
This was a great video! Nothing new here that you haven’t mentioned before, but what a great compilation of important points. Super motivating.
A+ gentlemen! This is one of your best videos. Keep up the GREAT work. Thank you for posting the useful information.
These guys are really next level consultants. Great video, great insight. Love this show. The compound interest comparison to baking a cake = genius
I'd love to see you guys interview people who have been disciplined and have made it. How did they do it? What sacrifices did they make. There may be some nuggets of wisdom in their stories and it would by inspiring to listen to.
As a scientist (chemist), I gotta say science can be a lucrative career but you’ll need an advanced degree. What many don’t know is that all top programs pay your tuition and provide a stipend for teaching and doing research. I got a PhD with no debt & in industry was earning 6 figures within 3 years. Academia is not as lucrative to be sure.
I would definitely agree as far as core sciences go (i.e. Chemistry, physics, mathematics). This is not really the case for engineering. Both my wife and I have Chemical Engineering degrees and I cannot see an advanced degree needed for the foreseeable future.
@@grante8 agreed. I work with a lot of ChemE’s, as I’m employed by a major specialty chemical company, and the engineers that get an advanced degree usually make it an MBA. That gets leveraged for some management role leading a business function.
@@chemquests this is what made me choose Chem E instead of chemistry. I couldn’t see myself in college for 6+ years, needed to get out and earn that ASAP. You’re exactly right, most the engineers I graduated with just ended up getting mba if anything for advance degree.
@@monicarenee7949 on the flip side, I’m less practical by personality and I was really enraptured with the research as something akin to a philosophical quest to answer some captivating questions. It was only approaching my final year that I really thought about looking for a real job. Fortunately the few extra years of education & lost earnings were balanced by the bigger starting salary. I’m now 13 years out and we essentially land in the same place financially. Of course the key is to follow your own passion to be successful; I remind younger folks there’s no one path.
Loved this video, specially the data you provided!
This is my favorite episode of the money guy show I love stats!
Hey Guys, another awesome show, do you ever do anything on home based businesses and the potential for wealth transfer within the family and tax savings that can happen with a minor working inside the home based business?
We started a business for my wife and one of the main goals was to give our 2 kids a head start by working within the business. (Since it is a single member LLC we do not need to pay FICA and Medicare on the kids earnings.) With this it opens up the avenue to have a Roth IRA at 13-14 for both of my kids. (Yes they actually do work in the business as they help with tasks they can handle. Trying to get some of the army of dollar bills working earlier.
Great show guys! I look forward to The Money Guy Show more than all of the other financial shows I watch/listen to each week.
Agree, these guys don't play the hype. Just facts.
Preaching to the choir here. 22 and practicing building equity with no ball and chains coming from Ohio!! Thanks Tennessee boys 😁
I've finally started saving about 20% of my income (between 401k, roth and brokerage). Maxing out 401k and Roth, so started putting money into a brokerage as well. This excludes. Plan on next year increasing that (hopefully increase every year). I'm 34, so hopefully on track (already have more than average folks going into retirement per this video). I didn't "wait" to start saving (I've been increasing every year since my first year of "real" work at age 22. Figure I will be a millionaire around age 40, maybe a little sooner depending on what I invest in outside of the brokerage (hoping to put future bonuses towards some real estate).
All this to say, it's amazing what happens once you actually pay attention to your finances. You just have to be intentional, and know it's not out of reach, no matter your income.
Love your channel guys!
I also am so thankful to my high school economics teacher, John apgar made me a number 8!
It’s interesting to also compare the personality types that are generally attracted to the different sets of vocations. I feel like those who struggle to pay off student debt come from fields that tend to attract free-spirited people and the second set seem more like practical, long-term thinking people. Gross generalisation of course, but it made me think.
Great show as always xx
Gross generalizations are great at helping you organize your conceptual thinking. Then, you can begin to focus and narrow to specifics and select for traits within you that will help you always. 👍
You would be surprised about that. There are many musicians who are also doctors and engineers. At least in the case of music, the math and the ability to also free think are a bonus in both areas. My son is very logical yet he composes and plays music. He is a Chemical Engineering/Jazz Sax Composition Major (minor in business). We have found those two things go together more than people know.
Not a free spirit, but I am a musician. Turned it into a day job by working in classical radio.
Hey just want to say thanks guys, I’m going off to college here in my home state with no college debt, money saved through working a job whilst taking classes and have already contributed to my Roth, opened up a few brokerages and most importantly learned about all these things through advice like yours. I could totally drink a beer with y’all.
Great real world facts and thnx for sharing !
You guys are amazing! We were shocked at Carmax that they only did loans of 5 years or more,. We put 50% down and are paying enough to pay off in 2 years as they had the lowest interest rate. Just noting that you can absolutely manipulate the system if you look around.
With the college degree, I’ll say they are not useless. Some companies (most) require a college degree, no matter what it is on, to accept your application. Even if it’s not in your field of work it is still valuable
Its not valuable if it cost 100,000 and you can't pay it back.
Agree. Aside from retail/food jobs, most I've seen require some sort of post-high school education and usually a few years' experience, even for "entry" level jobs.
@@Erin-rg3dw Very true....
Thank you so much guys!
I wish I would've had the opportunity to stumble across a similar source 15 years ago. Great work.
Its never to late! I had a late start but managed to become debt free. I'm now able to save 40% of my income. I won't have the luxury of 30 years of compound interest and I won't be a millionaire when I retire in 3 years but I will be ok living off my SS, pension and 401K.
I think financial education should be requirement in highschool.
Great show. I guess I'm an outlier. I wanted to be an engineer when I was three, and have ever since. Went to school for it and have been a practicing engineer for over 15 years
Worth repeating: You guys are SO watchable! As for "1st gen millionaires VS 3rd gen losers"-- It recalls in my mind a "trumpet"- looking graph you once featured, comparing compound interest positive VS negative; there's an echo between these two paradigms. Perhaps dig deeper as to exactly WHY, as a segment subject?
True story. The largest major at Clemson University is ex-Engineering. It is a HARD major.
lol
What is that?
The best financial Channel on TH-cam. I don’t know why this doesn’t have 3000 comments.
you guys just motivated me to up my investments to 25%.
Just did that myself a 2 weeks ago.....you don't really miss a log, but save from being taxed.
@@clap7777 agreed! I also love in a high tax states so even more so
Brian & Bo-fantastic content (as usual)
Only thing about the stat of working jobs within their field is that you can study something like engineering and still get an excellent job outside of that because those skills transfer a lot. Would be interesting to flesh that stat out.
To the 1k for emergencies stat, just last week I had an unexpected car issue and had to replace all 4 tires. Was glad to have that money available, otherwise would have had to get into credit card debt. Even with car or health insurance, a deductible has to be paid. Definitely will always need to have that money available.
My wife and I(28&25) are on step 5. If we max both Roth 401ks, IRAs, and HSA, that will be well above 25% take home (we're around 40-50% saving now). When do we move on to the next step(s)?
I love the slides. They are concise and to the point. I take screenshots and save them for my children. Not the most exciting thing in the world, but one of the most important and hopefully will ensure that they have a life of prosperity.
I can’t wait, happy to be a new sub. The only other money/finance TH-cam channel I’m subscribed to is Dave Ramsey.
You will enjoy this channel
Question at 13:40
Is this 20% savings just going into the bank IN ADDITION to also putting money in on stocks, bonds, etc. or is this 20% what we should be putting into those things?
SO much of today's "advice" is based on old metrics and situations. The savings rate you guys mentioned was so spot on. Save 10%...if you have a pension!
Did they mention that?
I haven’t heard that before.
@@livelaughlove4635 Yea, don't have a time stamp but essentialy many of the old thoughts on savings rates were built upon older retirement models.
Is personal savings rate corresponding to monthly retirement savings or disposable income?
Hey guys! Love the show! I think that index funds are amazing. I really think it's the only way people who want to get wealthy should invest. But I got a bit curious in real estate and wanted to see how stocks preformed against real estate over time but to my surprise there was no episode where you guys did that. Please make a stocks vs real estate video🙏🙏
The Power of Time graph is spot on!
Take away for me “being wealthy is better than looking wealthy” 🤩💰
Wow! Very interesting!
I think what gets confused with millionaires being the product of inheritance, is that there are other studies that show that amongst the super wealthy (like Forbes 500 folks), the majority (over 60%) came from privilege. Because the wealth of the richest of the richest is so disproportionately higher than "regular millionaires", some could argue that "most wealth is inherited". That said, you guys are correct... Most millionaires are new, first generation millionaires. The next problem however, is that a million is not nearly enough to retire anymore.
That stat about car depreciation reminded me of a time when I was 12, when my parents bought a new car. As we pulled away from the dealership, my dad muttered, "Well, we just lost $_______." Kind of a depressing thing to add to the joy of the new car smell, but Dad was right.
I wonder about the statistic regarding your field of study. I technically do not work in my field of study as I have a degree in business administration and I now work in It - software development. However, we develop specialiced business software and my business degree is super applicable there. A lot of my colleagues come from all kinds of fields as their specific knowledge is required to Design software for their specific fields.
I agree that it is not a good idea to go into debt for a degree that might not pay off.
You guys keep growing...
8:05 Can you explain or comment why gross-income? Honestly, 8% sounds like way too much but payments are with post-tax money. Why would you estimate using gross then? I keep seeing/hearing this recommendation for mortgages as well and cant understand the rationale.
How much is the average savings rate influenced by the savings of the top 10% earners? I would like to see savings rates for every 10% chunk of population based on their yearly earnings.
I’d love to see self-made stats for Deca-millionaires. Is there more churn with millionaires vs UHNW families vs the first gen millionaires?
I would too!
Deca-millionaire is my own personal goal for my family!
Does the money going to my 401k count towards my savings goal or should that be separate? (Relating to gross income * savings)
It should count towards your savings
While saving money for buying rental properties, should I put my money into a brokerage and then pull it out when I have a down payment. Should I reduce my 401k contribution and focus on real estate? Love to see a show about this
Don't put money in the market if you need it within 5 years. Follow the FOO, step 7 is when real estate investing starts. Make sure you check off the first 6 first.
Maybe we should have a discussion about what we, as a society, are doing to our next generation by strapping them with this amount of student debt. Those of us over 50 are benefitting from an economy that is making it nearly impossible for the next generation to fare as well as we have.
You forcefully made millions of student enter into student loan debt?
I'm almost 30 and have discussed that with my parents (in their 60s) a few times. There's definitely a combination of factors (and misconceptions) that have gotten us to where we are. For example, they went with me on my school visits and got the same speech I did that graduates would come out making $50k a year in their field within 6 months of graduation. With that logic, you'd think taking out $30k in loans seems reasonable. The reality is that many graduates don't work in their field for a while, and many of my friends worked retail/entry level jobs for years before they got better jobs, even those in STEM and "In-demand" majors. For my particular group, we graduated as the economy was in a recession, so jobs were scarce. If it takes you 3-5 years to make enough to start to pay back your debt or pay all of your bills, you're that much later at saving for a home or starting a family.
Hindsight is 20/20 and there's no point in getting mad at them. They got conned, too. School and magazine polls stating income at graduation are skewed by who answers the polls. From their point of view, higher education was the main way to get ahead because it was for them. They also took on the majority of the debt. At this point, it's trying to help future generations avoid that situation.
@@Erin-rg3dw I 'm in my 50s and have taken out student loans twice; in the 80s and 2000's. I was able to pay them back with ease because the amount, terms, and I terest rate were fair. My own kids have student loan ow and I worry about their ability to pay them back and do the things I was able to do while paying mine back, namelybiy a house and start a family. Student loan servicing has become predatory.
I am so thankful my job paid for my degree! Hearing those student loan debt stories are scary!
I found this channel a few years ago and I've been following since then to keep me motivated in my savings goals. I truly recommend being aggressive with saving in the younger years before kids come along. Childcare alone is very pricey especially in the city. My spouse and I are lucky to not be saddled with big college loans. I financed mine with a scholarship and my husband's parents paid for his. We are so grateful.
fyi, I grad in Speech Communication. BUT. I grad with $9500 in student debt, with 1st year salary $30.000 (2003). Came out great so far at age 49---graduated age 30. Get your first 2 yrs at community college, and work your way through as much as possible, and you'll be okay.
School costs roughly 200% more than it did in 2003, income is up only around 20%
One important thing to keep in mind with that 10000 hours to mastery is that you have to challenge yourself. Don’t get stuck racking up those hours just repeating year #1 of your career.
I have a 4 year old truck and a four year old Honda minivan, both have not depreciated at all according to KBB private party value. Not all cars are created equal.
Does finance accounting and economics being on that list mean that there are more jobs, or that those individuals are better at managing money?
Are there transcripts for these podcasts?
You didn’t mention the best part of the Elon musk and Richard Branson picture! There’s a keurig coffee machine behind them! They make their own coffee!!
I don't know if its different in America, but not working in your field of study doesn't mean you're not using your degree. for example im studying chemistry but im hoping for a career in management, finance etc. In the UK its quite common especially from Russell group universities. They require a degree for competitive graduate schemes, bu there's a range of fields of study that is accepted.
Great episode! As the millionaire point came fair amount of time, how do you define a millionaire? Is it assets minus liabilities (excluding the house you stay in)?
Secondly you mentioned about millionaire next door, but millionaire in 1996 is different from millionaire in 2019. Did you take inflation in account - meaning millionaire in 1996 is probably 1.75 million in 2020
Millionaire status is always the same. IF your assets minus liabilities including your home is over $1,000,000, you are a millionaire. Yes you are right that due to inflation the buying power of that million has gone down, but does any of that really matter. It is really about simply having enough income from your investments to cover you expenses. You don't have to make it complicated. Small house, simple life. You could live on very little. It is really just a matter of expectations.
It's true.....I'm 48 we did it a year early.....
Wow!
With Brian's sounds effects in the intro this may need to be changed to the MoneyDad Show 😂
The thing about majors is majors are not necessarily even vocations. What field in the workforce employs “culturalists” who graduate with a Cultural Studies degree, or “genderists” with a Gender Studies degree? Those vocations virtually do not exist, meaning those types of degrees are essentially completely worthless.
25:07 the thing about this fact is it doesn’t factor in inflation. as years pass and money gradually devalues, we should expect that more people would be able to become millionaires, which partly explains why the % of millionaires who are first generation are increasing. conversely, if we were to look at the % of *billionaires* that are first gen, i’m willing to bet that this is not high. generational wealth and inequality is still prevalent and hasn’t changed, it’s simply moved up to the billion range now.
Whats wrong with generational wealth?
"One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth." - Proverbs 13:7
Love the channel and I realize this is a show/podcast more than a TH-cam channel but have you guys thought about shortening your segments a bit to 10-15 minutes? Graham Stephan and Dave Ramsey especially have adopted this. It allows us consumers to get through 2-3 topics per sitting versus one giant 1 hour show. Again, not saying to change your format but just change it for TH-cam like D Ramsey has. Slice it up a bit more; so we can consume more. Thanks guys!
They break down this full episode into multiple clips the same way Ramsey does with his show.
@@dustinjohnson1410 oh 😬
You're wrong on Willie Nelson. Lawyers often take those degrees in undergrad. Lawyers and Doctors won't be on this list because there is no bachelor's degree in law or medicine. And no, I'm not biased at all...
Solid point 👍
When we were kids, not only did we not learn any of this…there was also no online brokers. These days if you AREN’T investing as early as possible you are hurting yourself. I WISH I had this chance at 20. I’m 42 and only started investing a couple years ago. I’m contributing 30% of my net income to try and catch up. But man if I could have done this from an early age I would already be on track to retirement.
I haven't heard of Civilization and Composition as college majors. Do they mean Humanities and English?
Time has always been your friend.
true! Im travel nurse annual salary 6 figures
Hello, my wife and I are both 36 year olds and following FOO, Saving 25% Towards retirement in 401K, Maxed Roth IRAs and a Maxed HSA. We are putting a small amount towards 529s for 3 children under 6 and will increase that over time with disposable income above the 25% retirement threshold.
I often hear Brian say 45-and-up should be paying down their mortgage. We have 25 years left on a 30 year now. If at 35-40 years old and relocated for work due to promotion, should we be going into a 15-year mortgage?
Random guy on the internet says, consider the 15 year, lowest interest rate ever, you'll have a paid off house at 51 years old. The biggest caveat is how many more times are you going to move in the next 15 years? The time commitment on the loan is nothing compared to the transaction costs incurred during buying and selling, especially when moving up a corporate ladder that takes you across the country.
Another random take from some dude on the internet... Strictly mathematically speaking, it doesn't make sense to pay a mortgage off early at the interest rates one can get today. Remember these are fixed rate loans that only get cheaper to pay off as inflation grows over the years.
That said, people aren't strict mathematical machines. Personally, we're one of those "first gen millionaires" in our early 40's (pretty much from doing what these guys advocate) and while I don't want to take money out of the brokerage account just pay off our mortgage, we did refinance into a 15 year some years back, because having the house fully paid off before the first kid starts college is a really motivating milestone.
Another factor is your tax situation...IF / WHEN the interest you pay no longer exceeds the standard deduction thresholds you lose the tax benefits of a mortgage. Since you are early in the mortgage lifecycle & you are eligible to contribute to a Roth IRA it's likely several years before you approach this point. Just something to keep an eye on.
Once you no longer have the benefit of a tax deduction the case for paying ahead becomes stronger.
More random comments, make sure your home equity is a small percent of your net worth so most of your army of dollars bills is working hard in the market for you. If that's true, and you will actually invest more with a smaller mortgage payment, the mathematical difference gets small, so it becomes more of a personal preference.
Why doesn’t anyone talk about how to invest to be a millionaire BEFORE-retirement? I thought that was the goal?
I think thats kind of the intent of becoming a "financial mutant" and saving more than reccomended amounts. But basically you can take their numbers and plug in an age 10 years older than you are to see if you are on track to be a millionaire by 55 for early at 55 or cushy retirement at 65.
If someone does have a pension plan that he/she is required to contribute 10% of gross income to (if that someone is, say, a public school teacher), would you advise the Roth/ 403b goal to be 15% of gross? There is no employer match, and that someone is also trying to save for a home downpayment. Asking for a friend. ;)
Is the 172,000 in retirement an average or median?
Granted, my below comment is a Tall Order, involving perhaps as much or more psychological examination as financial. But surely you see what I'm getting at: I suspect we all pretty much intuitively know the answer: New Money people know first- hand what paucity looks (and feels) like/ Silver- Spoon Trust Fund Babies never experienced scarcity.
You’re missing a factor of the credit card balance. If you are on a new interest payment plan I don’t really consider that carrying a balance.
College Students; listen carefully at 18 mins in, on picking your major field of study.
Is there a better financial duo on TH-cam other than Brian and Bo? I think not.
If you've been saving 20% for 40 years you don't need to replace 100% of your income... You've been living off 80% of your income the whole time. Saving 20-25% is the absolute minimum I think people should save - but I think we should be talking about saving 40% and replacing 80% of income at a younger age. Not saving 20% and replacing 120% at 65.
High debt and economic instability are the results of ultra-low interest rates.
Good points. But let’s not forget that in your 20s is a time to make riskier growth investments. Can be making 20-60% on yearly returns. Don’t be so conservative and build your wealth!
Student loan debt is hurting ppl
47% of Americans not paying off their credit card each month is a gut check. Think about all that money going down the drain. It is the small things like this that can make people poor or propel them to riches. Americans definitely having a spending problem....
It would be nice to own that credit; imagine making 15+%!
Have it in your portfolio... its has a long track record of 30% plus growth with a small dividend attached to it. Pretty crazy 🤪
If you can't afford Healthcare, you die instead, tens of thousands get that choice
@@cheynebest7028 how do you invest in it? Besides a financial institution like Chase bank? Does Visa have a ticker symbol? I hadn’t thought of looking before. Appreciate any tip, that’s brilliant.
@@chemquests buy Visa or Mastercard stock... they have the best track record with consistent growth and stability imo. Should be in everyone's portfolio and no one can argue that.
Too late. I already graduated with more debt than my annual salary but I at least work in the field of my study haha
You should always get “gap insurance “ when you get the car🙂