@@cconnon1912 He was referring to the original message from Southern Benz, not your comment. But thanks for the feedback, good to know you’re quick to take offence, poor at reading (and think it is all about you - which it isn’t).
It's also the equivalent of $75k today, which IMO is a very decent starting salary for a promising GT grad in a moderate cost of living area like Atlanta.
@@zdr5191not everyone can. Some people are not engineers. Stockbrokers earn even more. But not everyone can be a stockbroker. Point is, not everyone has the ability to “choose” a better path. Sometimes it’s just not in their skill set as a human.
Obviously I am no financial guru but if you have any personal financial questions, you are welcome to ask and I will do my best to answer them! Thanks for watching.
Do you own some cars which you expect to appreciate in value just to sell and profit from, or is each and every car something that is special to you and something you really enjoy and have passion for?
It is really refreshing to see someone fully appreciate their privilege, it's really rare to see. You have gained a lot of respect from me today Mr. Bolian
@@NamieRye The cars I currently have are all examples that I truly dreamt of and own to enjoy. There are other cars that meet those criteria that I don't own because they would too expensive due to depreciation or I simply don't worry that they will get out of reach any time soon. I believe these will do well but I am not necessarily sure they will beat the stock market over the next decade. Fortunately that isn't the primary goal.
@@jonasgeisner7336 No, I agree that sounded bad. It would have you stretched thin to afford student loans, a car payment, and a mortgage even back then but there is a lot of fun to be had making $4-5k/mo.
HUGE amount of respect for Ed! A lot of people need to hear this, especially the young generation. Thanks Ed, you helped a lot of people by sharing this!
@@adj789If we call bitcoin investment then you can add gambling to that. Property and bitcoin would be on the other edges if investment would be a scale.
Yep, Starbucks is a wealth destroyer! No joke. Make your own coffee and buy a S&P500 fund with the money you save. When you are 60 it will amount to more than you can currently imagine.
A $5 coffee a day = $650,000 LESS in your bank account when you turn 60 which is more than most people have saved by 60 so I'm not sure how that's a joke... Especially bc the people who cry about a coffee a day and avocado toast are always getting themselves little treats here and there and can't see the bigger picture. It all adds up
My in-laws came to the country from Romania in 2008. Both of them in their late 50’s. My father in law didn’t speak English and my mother in law had no job experience and had never worked outside the home. We bought a bigger house in anticipation that they would be staying with us until they could afford to get their own place, I thought it might be permanent. However in a little under a year they both had jobs, he had learned English, they had saved enough money to pay the down payment on a home and bought a vehicle. They are living the American dream and when they talk about growing up in a communist country and how grateful they are to have had this opportunity to live in this great country they will often start to cry and get quite emotional. I sometimes have to remind myself of the fact that I won the lottery of life by being born when and where I was. Thanks for sharing your experience.
Exactly correct. Far too many people in this country have zero sense of gratitude, especially those who have not spent much time outside the US. They don't know how good they have it.
Romanian here, you guys that live in the USA have no ideea how privileged you are to live in a country with SO much opportunity, glad in worked out for your in-laws.
I always find it amazing when successful people forget both the advantages and the luck that got them to where they are today. I see a lot of successful people talk about how they bought a house when they were young, not realizing they bought it at 4x their salary and now it's 15x your salary (in my area). I appreciate you talking about how privileged you were, not that it downplays the hard work you've done with those privileges, but I'm glad they are noted.
Or when rich people say “look, I have millions of dollars and money doesn’t solve anything 🙄” “I have 3 houses, 1 is a lake house on the water with 2 boats, trust me, is just another bill. These things won’t make your problems go away” Like, hey, I’ll trade you my money for yours if none of that matters LOL
It goes both ways though. My kid brother and I had the same upbringing and the same advantages. I went to college and grad school and am very successful - great career in IT installation and training and consulting. He dropped out of high school and will likely never have two nickels to rub together despite being a "hard worker"- and he and his equally useless wife sponged off our mother for a decade until she wised up and gave them the boot. Ultimately, it's up to YOU how you make your way in life. Though if you start out behind the eight ball it certainly is a lot harder, and if you are born with a silver spoon in your mouth it certainly can be easier, even if your parents don't give you cash. I'm much like Ed, I got a good upbringing and a lot of good advice from my parents (and grandparents), but no significant cash, not even college. They did buy me a used car and paid for the gas and maintenance while I was in college - but not an Audi S4, lol.
@@Kevin_Rhodesso where is the other way, you presented the same story. If your brother didn't have your mother "to sponge off" he would probably be homeless. Not everyone can waste their life away and still be saved by parents.
When my dad bought his first house in 1961, it was 3x his annual salary. When I bought my first house in 1984, it was 10x. Today it would be 25x. (These numbers are all for CA.) No wonder this generation of kids is ticked off. I would be too.
If $50k a year starting salary sounds terrible for someone with no college debt 20 years ago, imagine what it feels like for someone with 2-3x that in school loans coming out of school now for that same salary. It’s crippling and genuinely makes risk analysis much more difficult when it comes to spending money on literally anything, including starting a business.
100%. My wife’s first full-time job out of college as a first grade teacher pays $29,000 / year. I am able to bring in roughly $60,000 before taxes but I can hardly imagine what an extra $21,000 (before taxes) could do for us. We both want to start a family but there’s no way we’re going to do that with our current income.
and now we have the reply's that i was waiting for, don't worry, if you lean on that shovel long enough and think real hard it might come to you what it takes to be successful , and also what successful means to some of us.
@@YappinNCruisin depends where you liv ebut at 89k you're well above average household so unless you live somewhere crazy like LA or NY you're spending too much
@ we could be worse off but out house is $150,000 and the interest rate is 7% for a 30 year mortgage. Our minimum payment is 1381 so that’s been rough for us. On the bright side we don’t have any payments for vehicles so it’s just insurance, utilities, food, gas and the mortgage for the most part. But anyway $50k isn’t what it used to be. Haha
Born 13 years earlier and had almost the exact opposite experience. Went to Georgia Tech, did the co-op program abd gradduated with modest debt in 1997. I was too early for Hope, my GPA was too low by the time it started. Bought my first house in 2001. Got laid off 2 days after 9/11. Took 10 months to find another job. Got married in 2004. Kept both houses as rental properties. Moved to Cumming, GA in 2005. Bought at the top of the market. Worked a good job for almost 9 years. Got laid off again. Sold the house for a loss that wiped out most 401k. Bounced around jobs for about 5 years running up more debt. Sold both rental properties for break even at best. It helps to have enough money that you can afford to risk money. It is refreshing to see someone admit that they got where they are due to outside forces.
I bought a house in Las Vegas in 2004 at the top of the market. Today it is worth barely what I paid for it -- twenty years later!! Ouch. But here's the thing. Over a lifetime, everyone will experience an up-and-down job market, investment market, real estate market, etc. The key is to stay in the game, invest whatever you can, even if it's not too much, and be ready for the good opportunities that will inevitably show up. It's a marathon, not a sprint.
@@Nordic_Sky Sad truth is from what you mentioned only real estate investing is worth your time, stocks and investment market makes them money and they share 1 penny with you. You learn these stuff sadly when its too late to do something about it.
My wife and I sat next to you and your family during sushi a few months back...ya'll couldn't have been sweeter. To me, that's the biggest win you have. Just the nicest, humblest people anyone could have met. Kudos on your success, but more importantly your happiness with humility.
1000%, the message here is that in all times and places, there will be opportunities to those who seek them which will in retrospect look like privilege!
@@AbdallahMassoud1 There is no greater or more damaging lie told than this. Just having opportunity is not guaranteed. So much of who we are and what our capabilities are is outside of our control. You assume so much to be standard that is privilege. You don't control your innate ability, your parenting, your political or economic climate, your genetics etc. Every opportunity you can seize is heavily dependent on having capacity to seize it. You can't invest when you don't have any means to feed yourself. Many people try to better themselves but fall afoul of systems of oppression because they don't have the capacity or knowledge to avoid the pitfalls. These people are no more or less deserving than anyone else, they just exist in a context that you want to blame them for. And you're not alone. It is very human to give yourself credit for positive things that happen and blame others for negative things that happen. Many people have lost their shirt taking advantage of 'opportunity'. Many opportunities are zero sum games where there are losers by design. And if you think, well I am smart enough to seize the right opportunities, even that ability does not make you deserving, that ability in itself is privilege. At it's heart for any outcome luck is the largest factor.
@@AbdallahMassoud1 Timing was important. If he tried to do that now, he wouldn't be able to. There are a number of books that also discuss this. Jobs and Gates were in advantageous positions at the start of the computer revolution, same with Rockafeller and his cohorts when the oil boom took off. I think Edd would have been succesful but building capital is one of the hardest things to do. No college tuition and buying a house in 2010 are great advantages that aren't around atm.
@ yup, thats why i said doesnt always. For some it does, and for others its about being aware of your own situation and making sure to act on whats around you
The financial education your parents gave you was the biggest gift. Even KNOWING to invest in the stock market instead of accepting some defualt fund you are auto enrolled in makes a massive difference in the long run. I am your age Ed and I only recently learned those lessons. My parents basically told me I should live on beans to overpay my mortgage... 😑
I wish they still had home ecnomics and added this in the course in highschools. Sounds stupid but knowing how to cook and save you massively in the long run. Not just in the upfront price but a lot of mircowave food and eating out isn't healthly so added medical bills later on. Even in mid term eatting unhealth give you less energy. Only thing about the mortgage is if you had a high rate higher combind with inflation, and taxes then you should pay it down. Doesn't matter if your moneys in the market if inflation is outpacing it. Then realistate is a better option. Counter argument is say you put 100$ in the market and it grows at a rate of 13%, thats a very high rate in history btw. You have 113$ at the end of the year but your inflation rate is 3% your now 113$ has the same buying as 109.61 as when you put it in is your still ahead. Now lets say you have a high mortgage rate 5% realistical mortgage rates at more than 4% is bad and thats on the high end. You by having the debt have a inflation rate of 8%. Your parents were right in there Gen because the stock market used to grow slower 8%ish. Then factor in taxes even moving from one stock to another is taxable as you are selling one stock to buy another.
The Target Date funds that most corporate 401Ks automatically enroll you in are entirely sufficient for most W-2 earners. The are periodically re-adjusted for the age class you are invested in and not that different from creating your own balanced portfolio.
That gift is nothing without also having the $20k on a car given to you, to be used later on a down payment of another opportunity. Just having financially stable parents is a huge thing. 99% of people are given zero chances. I like Ed, but all his wealth comes from cars that grow in value because there’s a stable group of rich people that will always have enough to keep the demand, whose money comes off the back of regular people being given less than they deserve. And his housing investments were only possible because of the tragedies of the late 2000’s, and the subsequent hoarding of properties by a few investors. None of this was Eds fault of course, but to say that everyone has a chance to leverage an opportunity leaves a bad taste in my mouth.
I’m a current senior at Georgia Tech and also benefitting from the Hope / Zell Miller scholarship. I will be graduating with no student loans thanks to my parents for paying for my housing. Crazy to think of how many people Georgia has helped find success with the Hope scholarship. It is truly amazing!
Years back when Ed started VINwiki one of the main reasons I became an instant fan was unlike most people on TH-cam you can see how genuine and honest he is with living his life. Even though I’ve never met him he doesn’t seem like someone who thinks he’s better than others like most TH-camrs come off as.
I really appreciate that you're willing to talk about this at all. Privilege and luck can be as important as knowledge and drive and far too often people who have "made it" want to tell the story that their success was purely a result of the grind. Hard work matters but being in the right place at the right time is huge
The fact of the matter is, opportunities happen when you work hard and put forth effort, that wouldn't happen otherwise. I know people who only try the bare minimum at life, and that's all they receive. I got hit by a drunk driver going 100mph and wasn't sure if I was ever going to be able to work anymore, so I decided to start learning real estate investing. Fast forward 5 years and i own multiple houses and got to ride a wave of appreciation and low interest rates that allowed me to take my net worth from low 10's of thousands at 33, to about million at 38. I wouldn't have been able to have any of that "luck" if I hadn't taken an awful situation that still causes extreme pain and suffering to me from time to time and used it to learn a new skill. At the same time, just as Ed mentioned, and it will probably be one of the most overlooked things he said. I realize that all these blessings come from the Lord Jesus Christ, and without him, I am nothing and have nothing!
This is a good explanation of the saying “luck is when preparation meets opportunity.” He was ready for all of the opportunities he had coming his way, which allowed him to have this much success. Thanks for the story, and opening our eyes!
This is the most humble and amazing video I have seen in a very long time. I love that it is not a "bootstrap" lecture when Ed has obviously also done a ton himself to be where he is.
Its nice to hear someone give financial advice that is basically "Sometimes you get lucky enough to be born at the right time." You can grind as much as you want, but you can't grind luck.
Worked my ass off & sacrificed social experiences to save for a house in the UK only to get hit with interest rates so high that my mortgage was nearly double what it would have cost someone 5 years prior for the same bricks. Can't control the system you're living in unfortunately.
Facts. The vast majority of the most brilliant, and hardest working people in this country, and all others, will never see the success and financial freedom that they truly deserve based on their ability. It’s a sad state of affairs, but it’s really refreshing to see one of those people who just simply got lucky and put in some work, acknowledging they didn’t do anything more than the average working stiff. Good guy, Ed is.
This is one of the best video's on the internet. So many people who are successful don't realise that along with plenty of hard work on their part, they have also been very lucky. Whether it is buying a house at a lucky time, being born in a country that is 1st world and/or having parents who were in a comfortable position financially and taught them basic skills like money management. I count myself as one of those lucky people.
Ed that is very humble of you to acknowledge all the opportunities you were given, and that is a breath of fresh air. But give yourself a good amount credit because most people would not accomplish what you've accomplished given the same opportunities you had!
Great video Ed. I’m in my 20s now, and on a good path, but I think if I had seen this video when I was 14 or 15, it would have been reassuring. Hope it reaches many in that phase.
Hoovie tries to hide the fact he came from money and always had a golden safety net. On the Ice Coffee Podcast he wouldn't just say he failed at his dealer and his daddy took him into the business. Sure he's made his path now but him wanting to be elusive about it stands out.
@@wacabby correct, but rarely brings up unless probed that he had a million dollar business to fall back on ( his dad's) his dealership was daddy letting him play
Give yourself some credit Ed. You were in the best position to take advantage of the opportunities in our time, because you did the hard work laying the foundation, for your future. You earned that scholarship somehow. You finished your college degree. You had money left over after college from scholarships, because you didn’t blow it on a shopping spree, and rack up more debt. You didn’t wrap that first car around a tree, two blocks from your parent’s house when on a bender. You didn’t get a girlfriend pregnant in high school. It’s easy to make one mistake early in life and make all of that “privilege” disappear. Be thankful for all of the opportunities you have been given. But also be thankful to the younger version of yourself that put in the time and effort so you could be in a position to take advantage of the opportunities as they come.
The best testimonial for faith that I could have ever predicted coming from a car content creator. This level of self-reflection and, for lack of a better term, privilege, best embodies the way I view faith. Whatever your faith may be, putting that trust in something larger than yourself but understanding that what will be laid out ahead of you, is what you're destined for, is what keeps many people moving ahead each day. I appreciate this view on your personal success. Acknowledging that many of us may never experience the perceived joys that we see our favorite content creators display each upload, but hearing the circumstances combined with a set of decisions (both good and bad) can lead you to success, is refreshing. Thank you for this, and for sure, the most humble speech ever given in front of a red on red on red BUGATTI. Thank you, Ed. Cheers!
Also from ATL. I sent it to my kids who also do not have student loans. But decent economic timing in the US plus having time on your side should translate to success
nailed it. its called hard work and being there at the right time. great message ED. im 18 years ahead of ya and so glad my wife and I started saving when we finally had a little xtra.
Thank god. I live in the state of Georgia so I was expecting this to be a video on how my state taxes went directly in this wallet but it’s nice to see the ideal situation we all joke about with buying a house when we were kids in 2008
Man it’s so refreshing to see a successful guy not trying to act like it’s all hustle. I have a similar story to you (went to high school just a little ways down the road) and had the same stroke of luck. I’m happy and secure but I won’t pretend that I didn’t have a leg up.
I remember seeing an article 20 years ago or so with a billionaire. (I can't recall which one) They mentioned luck was the biggest factor in their success. They weren't saying that was the only factor as they had worked very hard and smart to get there but mentioned knowing many others who worked just as hard or harder and were just as smart or smarter who never got that lucky break to reach that great level of success. It's not that their friends hard work didn't pay off but they were upper middle class rich not billionaire rich.
This is a great video ED, especially with everything currently happening in the world around us, it puts everything in great context, and to appreciate each and everyone's personal progress for what they are and who they are, and not feel down because of all the haves and have-nots we see from social media. just trust the process and take the opportunities as they come.
Ed, I completely sympathize with you. I was born in 1985 in Dunwoody, and my story is very similar. I feel so incredibly fortunate to be financially independent, and close to early retirement. I'll stop working all together before age 40. The FIRE is spreading!
Very mature video Ed, much respect to you for saying all this. I personally believe acknowledging our own privilege is important not only in staying humble, but so that we understand our duty to provide that privilege to people in the future. There's probably another ten year old Ed in his bedroom looking at flooded Revueltos right now, and we all owe it to him to make sure one ends up in his garage.
This is such a fantastic thing to share. Its a great window into the reality of how things can come together through no positive or negative action by anyone.
I really appreciate you putting out content like this. There's so many TH-camrs who flex exotic cars in a way to sell something or prove their legitimacy to people. It also often makes regular people feel inadequate. You certainly deserve credit for your good life choices like getting the hope scholarship and graduating GT, but it's great to also acknowledge the side of success that is often outside of our control. I'm not rich like you, but I do have a decent job and a lot of it was from where I grew up, and meeting the right connections at the right time. Of all the hustle I've put in over the past 10ish years post-college, the majority of it didn't really help me that much financially to my surprise. Instead the steps forward came from things like meeting the right person at the right time with an open role that fit my skills. I'm still hustling to build SAAS projects in my free time because I want a lifestyle like yours, but it's reassuring to know that some of the success factors aren't just me being inadequately skilled to make a million dollar company, but are also in a big way external factors out of my control. I find comfort in that for sure, and seeing someone successful share those details is much appreciated!
Wow this is the best video I’ve ever seen. I’m a 25 year old, got separated from the Air Force as an officer, and now work in the defense industry. I’ve been racking my brain on how to “make it”, as this salary won’t allow me to live my dream like Ed. I even got my real estate license (was a bad time to start). Literally been so stressed on how I’m going to achieve at the level I know I need to and this video was extremely refreshing to see. The industries I know could pave a path to this kind of wealth are just so closed door. Thanks Ed for providing me with a slight sigh of relief
Just start saving and be consistent about it. Buy an S&P 500 index fund with whatever you can. Do not sell, even if the market drops 50%. By the time you are 60 you will be wealthy. For a job, pick something you actually want to do. If you are doing it just for the money, it will never work out. Trust me.
A refreshing take on the macro conditions that have helped you along the way. Would love to hear about one or more of the intentional decisions that you made to add to that effect.
Great story and acknowledgement of what you had going on around you. A lot of people dont or wont acknowledge it and take cresit for all their "sucess". You were able to recognize it and capitilize on it, thats great and I wish you well on your journey I was born and raised in 1980 in Atlanta as well and by the late 80's early 90's the city was going through a metamorphosis from a small southern city to an internationally recognized city. When the Olympics came to Atlanta it changed Atlanta in everyones eyes forever. A lot of people took advantage of this and it changed their lives as well. My family has a construction business that grew from thousands to millions during this time. While you were able to benefit from the housing market crash of 2008, it was the opposite for my family. We almost lost everything because we were into construction and real estate. It took me 10 years personally to get back on my feet and I'm still not where I was before. Im saying that to say you are absolutley correct somethings are definitely out of your control. Its just whats happening around you and whether can take advantage of it or not. Its great to hear your honesty about it. Thanks for this vid.
This is an awesome video and I feel like it is spot on ,very transparent and also very accurate. Being a black male I just want to say I feel you did a wonderful job of articulating everything thoroughly and correctly so that it is easy for everyone to see things that may have been in your favor and that it is not because of the color of your skin or your parents. Keep doing great work and stay blessed.
Ed this was fantastic. You make an excellent moral role model for a lot of what I am guessing is a predominantly young and male audience. Everyone could use more influences like you in their life. Good on you for using your platform to share this message. Really appreciate you.
The emotional intelligence to acknowledge the forces at work that helped you achieve what you have achieved is something to aspire to. I look back at how I have managed to nearly 4x my salary in the last 9 years and be nothing but thankful to the opportunities that have been there at the right time to make it happen. Congrats on not living up to your potential and still have a Veyron
Another incredibly uplifting and encouraging video. Well executed, Ed. I am about 10 years older than you and this was great to think through. There were difficult times but certain things happened at certain times for us and the timing outside of our own doing has been good for us and our children. This is a great reminder video.
I feel this strongly. I went to school, got good grades, got a good degree through their business school, did several internships, graduated in 2013 and the best salary I could find anywhere was a measly 38K, albeit with full benefits. I was getting by ok, but it REALLY put me behind in being able to save for a home. I make good money now, but I'm forever chasing reasonable affordability of a home. It sucks
Good on you Ed for acknowledging it. I was born in 05 and was not in the position to get grants for school so I just last year finished paying 75k in loans. On the flip I did get a house in 17 and amassed a similar amount of equity as you. The ebb and flow of privilege is a real thing, and I do my best to remember there are people who will do everything right and still fail to dig out of their current situation. I worry for the current generation coming into a very cut-throat and brutal job market.
Thanks for sharing this, as someone who migrated from the Middle East to Canada and working hard it's good to put in perspective how life unfolds for each of us differently. I'm happy for your success and love your channel as well as VinWiki. Keep it up
Wife and I graduated also from Tech (way before the Zell), and our two eldest also graduated a few years ago, staying on Zell the entire time. Youngest is a Jr. at UGA; also always on Zell. Great program.
Practically the same situation. Mom and dad taught me the same things…but they paid for me school allowing me to take an entry level job with a lot of potential that somebody with debt wouldn’t have been able to take. 36 now and earning in the 1% annually. Purchased a home in 2019 that’s worth twice what I paid. Started making real money in 2016. But I see people just a few years younger than me that even earning the same couldn’t have what I have. I totally sympathize with them.
I was born in 84 and also went to school in Atlanta for college and I TOO, bought a house in 2010 for CRUMBS. And also have a ton of equity in real estate. Still Ed, we also knew what to do and dared to do more than others our age. I also have friends who were more aggressive than I was and have even more of a net worth. I'd still recommend people look for real estate deals throughout the country. They still exist and I've been averaging 1 house per year.
Ed you are my hero for making this video. I no doubt believe the Lord had you address this issue to those that are looking at your success. Much respect and God bless.
Ed, your message is a great dose of reality. I also graduated from Georgia Tech, but in 2005. I pursued a career in commercial real estate and found myself laid off in early 2019 due to the recession and had just earned a master's degree while working full time. It was a low point in my life after working so hard. I got back on my feet and my wife, who I met in grad school, and I have enjoyed a few years in the highest tax bracket...a far better living than the unemployment checks I received for a few months in 2019. Just as the tide can turn against someone's efforts, they can certainly give a boost and you'll enjoy riding the wave. I hope that for all who see this video and are struggling, you are able to find your way.
I barely ever comment on videos and we’re very different people in general, Ed, but this may just be the most accurate and aware statement from anyone successful I’ve seen in a very long time. I’m lucky to have been born in Los Angeles in 1985, and benefitted from a lot of the same ability to ride the tide. I never forget how lucky I am, and I’m glad you don’t either. Very cool, bud. Wishing you continued luck and success!
Ed, I just finished this video in my car on my lunch break. I’m working right now to get myself into flight school. This video just helped cement some of my thoughts and help rid some of my worries. It was very well said, and very well received. Thank you, you’re right. It’s not always you doing something wrong or right, sometimes things just happen. Our time will come. It just takes time. Keep working hard, have a goal, and you’ll be there too.
Timing is everything, and there has NEVER been a BETTER time to be entering the aviation industry as a pilot. Keep at it and you will be rewarded beyond your wildest dreams. 👍
I’m not sure if Ed will see this but around the time you started vinwiki I started watching it because being from the same area of Georgia and the videos coming out around lunch while I was working in college I’d always watch them. I even had a small conversation over twitter with you some years ago. I have to say in a world of flashy influencers and such, I have always looked at your approach to life, humility, and Christian values as something to aspire to. I hope you continue doing great things and one of these days I’ll eventually take the mountain drive you told us all about in one of the vinwiki videos years ago! Where I live now in the mountains I see many performance cars come by. I’ll eventually get my own to go on that drive!
Fair play to you ED, It’s funny how life works out sometimes… my plan is to start an electrical company in 4-5 years. But life can change very quickly! For good and bad.
Thank you. I think this is one of the ways you, Doug, Chris Harris and others can truly give back. Talking about life once in a while is certainly as important as talking about cars.
absolutely agree with you Ed, its about a combination of factors that constitute success. My son is on tract to be a millionaire in a few years out of college. We began learning about investing and he put everything he made into it, as well as what we could give (which wasnt more than a few thousand.) He is taking what he learned from his parents and using timing of market to make the best of things. My parents didnt know about investing, but encouraged me to learn just I did with my son.
The honesty is what makes Ed’s videos so enjoyable. I find that it has become a big competition to flex wealth. It’s not the cars fault but the creators. This video added a lot of. Value to the community you are building
I have to add one thing to this; it’s more than just paying attention to your circumstances and timing to make the right moves, you have to keep working hard to be sure you’re in the right position to be able to capitalize on them. A great, GREAT person in my life was listening to me talk about how lucky that I was to have the opportunities I had and where my life was going and stopped me mid sentence to tell me that it wasn’t luck at all, it was that I kept working hard and created those opportunities as a result. Those words resonated deeply and gave me a stronger sense of pride that played a part in my own personal growth.
I can appreciate this, a lot of adults more so the boomers would say "younger gen are lazy and etc etc". I'm not mad that you have the things you got but the truth of the matter is you were lucky. Is there hard work still involved? yes, absolutely...But you were born at the right time blessed to take advantage of college assistance programs, buying a home after the housing market crash. I'm just glad to know that not everyone is delusional
I’m really glad I watched this video Ed. Thank you for inspiring me since I was 16. Going on 25 now, and I hope to enjoy the life I’ve been given on this world even just a fraction of the way you have.
In almost 4 years of owning my first house, I've gained just over 100k in equity. It's crazy when you buy a 189k house and a few years go by, and it's turned into a 300k dollar house.
@@sarahdell4042 Correct... and since you have to have a roof no matter how you do it, the building you're living in is a liability, not an asset, even if its building equity on paper. It goes against what most people believe/are taught, but it's true.
Unfortunately the value of currency has gone down minimum 3* in the last 4 years due to the insane increase of money supply. so you've actually lost money
Nice to hear you say that you are privileged. We all need to be thankful for the things we have, as there are so many people with less. Think about giving back one day also. That’s what I have been doing and it’s very satisfying!
Absolutely love this. The bevy of successful people and influencers telling less successful people that hard work *will* result in success implies that if you are not successful you simply are not working hard enough, and we wonder why depression, anxiety, and burnout run rampant in this country. On the flipside, as you mentioned privilege isn't the *only* ladder to success or self-satisfaction, and it's important for people and prospective content creators to keep an open mind about the possibilities of their career, their hobbies, and their life trajectory.
As a 20 year old kid who didn’t decide to further my education and had life happen to me (had a child) i often compare my self to my peers and this made me realize everyone goes through life at different speeds and different times very nice speech ed
Privilege means nothing without some level of effort, and you put in a tremendous amount of effort to achieve what you’ve got. Fantastic realistic explanation of acknowledging your advantages, but also sharing the work it takes.
This video was a rollercoaster in the sense that I wasn’t sure what to expect. I was worried about this being the last video I watch scared you would’ve said some rich dude shit and you did the complete opposite what a humble speech so sincere,honest and encouraging today was the perfect day for this video 🎉 loved the car content but always appreciate a video where a creative is showcasing their personality or perspective. 💪🔥
I haven't done as well as you because I'm not as leveraged and havent taken as many risks. But I also made the fortuitous decision to buy a house in 2010, close to the bottom of the market. That decision contributed a lot to my net worth.
That is the must humble speech that I’ve ever heard from someone sitting in front of a Bugatti.
That’s not an accident. 😅
Proofreading is such a lost concept.
@@timkinley1779 🫣 proofread what’s proofreading? My comments are always cryptic shorthand from text to speech. I would type it, but I can’t spell.😓
@@timkinley1779Well said. First thing I noticed. Distracts from the message.
@@cconnon1912 He was referring to the original message from Southern Benz, not your comment.
But thanks for the feedback, good to know you’re quick to take offence, poor at reading (and think it is all about you - which it isn’t).
3:23 $50k is pretty still the same starting salary for a lot of entry level employees with a 4-year degree... nearly 20 years later.
There is a big push from the overlords to standardize a salary of about 60k. Most people have a tough time breaking that range.
4 year engineering degree will get you $70k starting minimum. Choose a better path.
It's also the equivalent of $75k today, which IMO is a very decent starting salary for a promising GT grad in a moderate cost of living area like Atlanta.
Pick a STEM major.
@@zdr5191not everyone can. Some people are not engineers. Stockbrokers earn even more. But not everyone can be a stockbroker.
Point is, not everyone has the ability to “choose” a better path. Sometimes it’s just not in their skill set as a human.
Obviously I am no financial guru but if you have any personal financial questions, you are welcome to ask and I will do my best to answer them! Thanks for watching.
Do you own some cars which you expect to appreciate in value just to sell and profit from, or is each and every car something that is special to you and something you really enjoy and have passion for?
50k dollars anually in 2008 bad pay? I barely make that today! Haha, keep up the good work, I love your videos!
It is really refreshing to see someone fully appreciate their privilege, it's really rare to see. You have gained a lot of respect from me today Mr. Bolian
@@NamieRye The cars I currently have are all examples that I truly dreamt of and own to enjoy. There are other cars that meet those criteria that I don't own because they would too expensive due to depreciation or I simply don't worry that they will get out of reach any time soon. I believe these will do well but I am not necessarily sure they will beat the stock market over the next decade. Fortunately that isn't the primary goal.
@@jonasgeisner7336 No, I agree that sounded bad. It would have you stretched thin to afford student loans, a car payment, and a mortgage even back then but there is a lot of fun to be had making $4-5k/mo.
HUGE amount of respect for Ed! A lot of people need to hear this, especially the young generation. Thanks Ed, you helped a lot of people by sharing this!
bitcoin and property are the 2 best investments you can make today
@@adj789If we call bitcoin investment then you can add gambling to that. Property and bitcoin would be on the other edges if investment would be a scale.
There's a "one $5 coffee a day" joke that belonged in here somewhere....
Think you mean 1 free Chicken sandwich a day....
Something, something, too much avocado 🥑 toast 🍞
Yep, Starbucks is a wealth destroyer! No joke. Make your own coffee and buy a S&P500 fund with the money you save. When you are 60 it will amount to more than you can currently imagine.
@@Nordic_Skyso true. Unbelievable what so many throw away on average coffee!
A $5 coffee a day = $650,000 LESS in your bank account when you turn 60 which is more than most people have saved by 60 so I'm not sure how that's a joke... Especially bc the people who cry about a coffee a day and avocado toast are always getting themselves little treats here and there and can't see the bigger picture. It all adds up
My in-laws came to the country from Romania in 2008. Both of them in their late 50’s. My father in law didn’t speak English and my mother in law had no job experience and had never worked outside the home. We bought a bigger house in anticipation that they would be staying with us until they could afford to get their own place, I thought it might be permanent. However in a little under a year they both had jobs, he had learned English, they had saved enough money to pay the down payment on a home and bought a vehicle. They are living the American dream and when they talk about growing up in a communist country and how grateful they are to have had this opportunity to live in this great country they will often start to cry and get quite emotional. I sometimes have to remind myself of the fact that I won the lottery of life by being born when and where I was.
Thanks for sharing your experience.
definitely not living in a big city area suburb but yes, its possible with 2 fulltime working people
The kind of immigrants this country has always wanted & needed.
Love when people are grateful! And not entitled! You just know they are good people
Exactly correct. Far too many people in this country have zero sense of gratitude, especially those who have not spent much time outside the US. They don't know how good they have it.
Romanian here, you guys that live in the USA have no ideea how privileged you are to live in a country with SO much opportunity, glad in worked out for your in-laws.
I always find it amazing when successful people forget both the advantages and the luck that got them to where they are today. I see a lot of successful people talk about how they bought a house when they were young, not realizing they bought it at 4x their salary and now it's 15x your salary (in my area). I appreciate you talking about how privileged you were, not that it downplays the hard work you've done with those privileges, but I'm glad they are noted.
Or when rich people say “look, I have millions of dollars and money doesn’t solve anything 🙄”
“I have 3 houses, 1 is a lake house on the water with 2 boats, trust me, is just another bill. These things won’t make your problems go away”
Like, hey, I’ll trade you my money for yours if none of that matters LOL
It goes both ways though. My kid brother and I had the same upbringing and the same advantages. I went to college and grad school and am very successful - great career in IT installation and training and consulting. He dropped out of high school and will likely never have two nickels to rub together despite being a "hard worker"- and he and his equally useless wife sponged off our mother for a decade until she wised up and gave them the boot.
Ultimately, it's up to YOU how you make your way in life. Though if you start out behind the eight ball it certainly is a lot harder, and if you are born with a silver spoon in your mouth it certainly can be easier, even if your parents don't give you cash. I'm much like Ed, I got a good upbringing and a lot of good advice from my parents (and grandparents), but no significant cash, not even college. They did buy me a used car and paid for the gas and maintenance while I was in college - but not an Audi S4, lol.
@@Kevin_Rhodesso where is the other way, you presented the same story. If your brother didn't have your mother "to sponge off" he would probably be homeless. Not everyone can waste their life away and still be saved by parents.
@@matthewray5093 it would solve all my problems instantly its bs useless motivation speech from them to compensate their flexing
When my dad bought his first house in 1961, it was 3x his annual salary. When I bought my first house in 1984, it was 10x. Today it would be 25x. (These numbers are all for CA.) No wonder this generation of kids is ticked off. I would be too.
just having parents that taught you more about finance than "save it in the bank" is colossal
If $50k a year starting salary sounds terrible for someone with no college debt 20 years ago, imagine what it feels like for someone with 2-3x that in school loans coming out of school now for that same salary. It’s crippling and genuinely makes risk analysis much more difficult when it comes to spending money on literally anything, including starting a business.
100%. My wife’s first full-time job out of college as a first grade teacher pays $29,000 / year. I am able to bring in roughly $60,000 before taxes but I can hardly imagine what an extra $21,000 (before taxes) could do for us. We both want to start a family but there’s no way we’re going to do that with our current income.
and now we have the reply's that i was waiting for, don't worry, if you lean on that shovel long enough and think real hard it might come to you what it takes to be successful , and also what successful means to some of us.
@@jimmieroan9881 I know what it takes to be successful regarding being literate in the English language, and you don't have it.
@@YappinNCruisin depends where you liv ebut at 89k you're well above average household so unless you live somewhere crazy like LA or NY you're spending too much
@ we could be worse off but out house is $150,000 and the interest rate is 7% for a 30 year mortgage. Our minimum payment is 1381 so that’s been rough for us. On the bright side we don’t have any payments for vehicles so it’s just insurance, utilities, food, gas and the mortgage for the most part. But anyway $50k isn’t what it used to be. Haha
Born 13 years earlier and had almost the exact opposite experience. Went to Georgia Tech, did the co-op program abd gradduated with modest debt in 1997. I was too early for Hope, my GPA was too low by the time it started. Bought my first house in 2001. Got laid off 2 days after 9/11. Took 10 months to find another job. Got married in 2004. Kept both houses as rental properties. Moved to Cumming, GA in 2005. Bought at the top of the market. Worked a good job for almost 9 years. Got laid off again. Sold the house for a loss that wiped out most 401k. Bounced around jobs for about 5 years running up more debt. Sold both rental properties for break even at best.
It helps to have enough money that you can afford to risk money. It is refreshing to see someone admit that they got where they are due to outside forces.
Feel for you. Keep on going. Appreciate you sharing.
I wish the best for you
@toddmaddox3632 this is the example that life is a gamble at best, he got a diamond while normal people get coal
I bought a house in Las Vegas in 2004 at the top of the market. Today it is worth barely what I paid for it -- twenty years later!! Ouch. But here's the thing. Over a lifetime, everyone will experience an up-and-down job market, investment market, real estate market, etc. The key is to stay in the game, invest whatever you can, even if it's not too much, and be ready for the good opportunities that will inevitably show up. It's a marathon, not a sprint.
@@Nordic_Sky Sad truth is from what you mentioned only real estate investing is worth your time, stocks and investment market makes them money and they share 1 penny with you. You learn these stuff sadly when its too late to do something about it.
My wife and I sat next to you and your family during sushi a few months back...ya'll couldn't have been sweeter. To me, that's the biggest win you have. Just the nicest, humblest people anyone could have met. Kudos on your success, but more importantly your happiness with humility.
The key part people miss, keeping your eyes out. Priviledge doesnt always just reach out to you, you have to find it and jump on whats around you.
1000%, the message here is that in all times and places, there will be opportunities to those who seek them which will in retrospect look like privilege!
@@AbdallahMassoud1 There is no greater or more damaging lie told than this. Just having opportunity is not guaranteed. So much of who we are and what our capabilities are is outside of our control. You assume so much to be standard that is privilege. You don't control your innate ability, your parenting, your political or economic climate, your genetics etc. Every opportunity you can seize is heavily dependent on having capacity to seize it. You can't invest when you don't have any means to feed yourself. Many people try to better themselves but fall afoul of systems of oppression because they don't have the capacity or knowledge to avoid the pitfalls. These people are no more or less deserving than anyone else, they just exist in a context that you want to blame them for.
And you're not alone. It is very human to give yourself credit for positive things that happen and blame others for negative things that happen. Many people have lost their shirt taking advantage of 'opportunity'. Many opportunities are zero sum games where there are losers by design. And if you think, well I am smart enough to seize the right opportunities, even that ability does not make you deserving, that ability in itself is privilege. At it's heart for any outcome luck is the largest factor.
@@AbdallahMassoud1 Timing was important. If he tried to do that now, he wouldn't be able to. There are a number of books that also discuss this. Jobs and Gates were in advantageous positions at the start of the computer revolution, same with Rockafeller and his cohorts when the oil boom took off. I think Edd would have been succesful but building capital is one of the hardest things to do. No college tuition and buying a house in 2010 are great advantages that aren't around atm.
If you got to private school, that shit often just reaches out to you.
@ yup, thats why i said doesnt always. For some it does, and for others its about being aware of your own situation and making sure to act on whats around you
The financial education your parents gave you was the biggest gift. Even KNOWING to invest in the stock market instead of accepting some defualt fund you are auto enrolled in makes a massive difference in the long run. I am your age Ed and I only recently learned those lessons. My parents basically told me I should live on beans to overpay my mortgage... 😑
I wish they still had home ecnomics and added this in the course in highschools. Sounds stupid but knowing how to cook and save you massively in the long run. Not just in the upfront price but a lot of mircowave food and eating out isn't healthly so added medical bills later on. Even in mid term eatting unhealth give you less energy. Only thing about the mortgage is if you had a high rate higher combind with inflation, and taxes then you should pay it down. Doesn't matter if your moneys in the market if inflation is outpacing it. Then realistate is a better option. Counter argument is say you put 100$ in the market and it grows at a rate of 13%, thats a very high rate in history btw. You have 113$ at the end of the year but your inflation rate is 3% your now 113$ has the same buying as 109.61 as when you put it in is your still ahead. Now lets say you have a high mortgage rate 5% realistical mortgage rates at more than 4% is bad and thats on the high end. You by having the debt have a inflation rate of 8%. Your parents were right in there Gen because the stock market used to grow slower 8%ish. Then factor in taxes even moving from one stock to another is taxable as you are selling one stock to buy another.
The Target Date funds that most corporate 401Ks automatically enroll you in are entirely sufficient for most W-2 earners. The are periodically re-adjusted for the age class you are invested in and not that different from creating your own balanced portfolio.
Same
@@slim2429 I am in England and rules are different.
That gift is nothing without also having the $20k on a car given to you, to be used later on a down payment of another opportunity. Just having financially stable parents is a huge thing. 99% of people are given zero chances. I like Ed, but all his wealth comes from cars that grow in value because there’s a stable group of rich people that will always have enough to keep the demand, whose money comes off the back of regular people being given less than they deserve. And his housing investments were only possible because of the tragedies of the late 2000’s, and the subsequent hoarding of properties by a few investors. None of this was Eds fault of course, but to say that everyone has a chance to leverage an opportunity leaves a bad taste in my mouth.
I’m a current senior at Georgia Tech and also benefitting from the Hope / Zell Miller scholarship. I will be graduating with no student loans thanks to my parents for paying for my housing. Crazy to think of how many people Georgia has helped find success with the Hope scholarship. It is truly amazing!
Thank all those people buying lottery tickets in Georgia. That is the source of the Hope/Z. Miller funds.
Years back when Ed started VINwiki one of the main reasons I became an instant fan was unlike most people on TH-cam you can see how genuine and honest he is with living his life. Even though I’ve never met him he doesn’t seem like someone who thinks he’s better than others like most TH-camrs come off as.
I really appreciate that you're willing to talk about this at all. Privilege and luck can be as important as knowledge and drive and far too often people who have "made it" want to tell the story that their success was purely a result of the grind. Hard work matters but being in the right place at the right time is huge
The fact of the matter is, opportunities happen when you work hard and put forth effort, that wouldn't happen otherwise.
I know people who only try the bare minimum at life, and that's all they receive.
I got hit by a drunk driver going 100mph and wasn't sure if I was ever going to be able to work anymore, so I decided to start learning real estate investing. Fast forward 5 years and i own multiple houses and got to ride a wave of appreciation and low interest rates that allowed me to take my net worth from low 10's of thousands at 33, to about million at 38. I wouldn't have been able to have any of that "luck" if I hadn't taken an awful situation that still causes extreme pain and suffering to me from time to time and used it to learn a new skill.
At the same time, just as Ed mentioned, and it will probably be one of the most overlooked things he said. I realize that all these blessings come from the Lord Jesus Christ, and without him, I am nothing and have nothing!
Humble. Honest. Unflexing. Enjoy a pleasant Thanksgiving.
-Peace&Blessings
This is a good explanation of the saying “luck is when preparation meets opportunity.” He was ready for all of the opportunities he had coming his way, which allowed him to have this much success.
Thanks for the story, and opening our eyes!
This is the most humble and amazing video I have seen in a very long time. I love that it is not a "bootstrap" lecture when Ed has obviously also done a ton himself to be where he is.
Its nice to hear someone give financial advice that is basically "Sometimes you get lucky enough to be born at the right time." You can grind as much as you want, but you can't grind luck.
Worked my ass off & sacrificed social experiences to save for a house in the UK only to get hit with interest rates so high that my mortgage was nearly double what it would have cost someone 5 years prior for the same bricks. Can't control the system you're living in unfortunately.
Facts. The vast majority of the most brilliant, and hardest working people in this country, and all others, will never see the success and financial freedom that they truly deserve based on their ability. It’s a sad state of affairs, but it’s really refreshing to see one of those people who just simply got lucky and put in some work, acknowledging they didn’t do anything more than the average working stiff. Good guy, Ed is.
Hard work brings luck. Luck comes from opportunities that come from hard work.
@@SeizingSheldon did you watch the Ed's video or just watch a andrew tate/Jordan Peterson video?
They say having a two parent house hold tends to be the best privilege you can have!!!
This is one of the best video's on the internet. So many people who are successful don't realise that along with plenty of hard work on their part, they have also been very lucky. Whether it is buying a house at a lucky time, being born in a country that is 1st world and/or having parents who were in a comfortable position financially and taught them basic skills like money management. I count myself as one of those lucky people.
Great overall message, I think should have been titled "Don't envy youtubers with flashy stuff"
Ed that is very humble of you to acknowledge all the opportunities you were given, and that is a breath of fresh air. But give yourself a good amount credit because most people would not accomplish what you've accomplished given the same opportunities you had!
Your awareness and humility are refreshing Ed. 💯
Great video Ed. I’m in my 20s now, and on a good path, but I think if I had seen this video when I was 14 or 15, it would have been reassuring. Hope it reaches many in that phase.
Hoovie tries to hide the fact he came from money and always had a golden safety net. On the Ice Coffee Podcast he wouldn't just say he failed at his dealer and his daddy took him into the business. Sure he's made his path now but him wanting to be elusive about it stands out.
on hoovie's youtube he constantly talks about how he failed on his dealership experience
@@wacabby correct, but rarely brings up unless probed that he had a million dollar business to fall back on ( his dad's) his dealership was daddy letting him play
@@chelechillen7848so
Give yourself some credit Ed. You were in the best position to take advantage of the opportunities in our time, because you did the hard work laying the foundation, for your future. You earned that scholarship somehow. You finished your college degree. You had money left over after college from scholarships, because you didn’t blow it on a shopping spree, and rack up more debt. You didn’t wrap that first car around a tree, two blocks from your parent’s house when on a bender. You didn’t get a girlfriend pregnant in high school. It’s easy to make one mistake early in life and make all of that “privilege” disappear.
Be thankful for all of the opportunities you have been given. But also be thankful to the younger version of yourself that put in the time and effort so you could be in a position to take advantage of the opportunities as they come.
The best testimonial for faith that I could have ever predicted coming from a car content creator. This level of self-reflection and, for lack of a better term, privilege, best embodies the way I view faith. Whatever your faith may be, putting that trust in something larger than yourself but understanding that what will be laid out ahead of you, is what you're destined for, is what keeps many people moving ahead each day. I appreciate this view on your personal success. Acknowledging that many of us may never experience the perceived joys that we see our favorite content creators display each upload, but hearing the circumstances combined with a set of decisions (both good and bad) can lead you to success, is refreshing. Thank you for this, and for sure, the most humble speech ever given in front of a red on red on red BUGATTI. Thank you, Ed. Cheers!
Also from ATL. I sent it to my kids who also do not have student loans. But decent economic timing in the US plus having time on your side should translate to success
Love how humble and real you are Ed! Thanks for sharing as always!!
nailed it. its called hard work and being there at the right time. great message ED. im 18 years ahead of ya and so glad my wife and I started saving when we finally had a little xtra.
Thank god. I live in the state of Georgia so I was expecting this to be a video on how my state taxes went directly in this wallet but it’s nice to see the ideal situation we all joke about with buying a house when we were kids in 2008
Man it’s so refreshing to see a successful guy not trying to act like it’s all hustle. I have a similar story to you (went to high school just a little ways down the road) and had the same stroke of luck. I’m happy and secure but I won’t pretend that I didn’t have a leg up.
I remember seeing an article 20 years ago or so with a billionaire. (I can't recall which one) They mentioned luck was the biggest factor in their success. They weren't saying that was the only factor as they had worked very hard and smart to get there but mentioned knowing many others who worked just as hard or harder and were just as smart or smarter who never got that lucky break to reach that great level of success. It's not that their friends hard work didn't pay off but they were upper middle class rich not billionaire rich.
This is a great video ED, especially with everything currently happening in the world around us, it puts everything in great context, and to appreciate each and everyone's personal progress for what they are and who they are, and not feel down because of all the haves and have-nots we see from social media. just trust the process and take the opportunities as they come.
Ed, I completely sympathize with you. I was born in 1985 in Dunwoody, and my story is very similar. I feel so incredibly fortunate to be financially independent, and close to early retirement. I'll stop working all together before age 40.
The FIRE is spreading!
Gross
Very mature video Ed, much respect to you for saying all this. I personally believe acknowledging our own privilege is important not only in staying humble, but so that we understand our duty to provide that privilege to people in the future. There's probably another ten year old Ed in his bedroom looking at flooded Revueltos right now, and we all owe it to him to make sure one ends up in his garage.
One of the most articulate blokes on the internet, always comes across humble and insightful, Happy to see your prosper Ed, have always been a big fan
This is such a fantastic thing to share. Its a great window into the reality of how things can come together through no positive or negative action by anyone.
I really appreciate you putting out content like this. There's so many TH-camrs who flex exotic cars in a way to sell something or prove their legitimacy to people. It also often makes regular people feel inadequate. You certainly deserve credit for your good life choices like getting the hope scholarship and graduating GT, but it's great to also acknowledge the side of success that is often outside of our control. I'm not rich like you, but I do have a decent job and a lot of it was from where I grew up, and meeting the right connections at the right time. Of all the hustle I've put in over the past 10ish years post-college, the majority of it didn't really help me that much financially to my surprise. Instead the steps forward came from things like meeting the right person at the right time with an open role that fit my skills. I'm still hustling to build SAAS projects in my free time because I want a lifestyle like yours, but it's reassuring to know that some of the success factors aren't just me being inadequately skilled to make a million dollar company, but are also in a big way external factors out of my control. I find comfort in that for sure, and seeing someone successful share those details is much appreciated!
Wow this is the best video I’ve ever seen. I’m a 25 year old, got separated from the Air Force as an officer, and now work in the defense industry. I’ve been racking my brain on how to “make it”, as this salary won’t allow me to live my dream like Ed. I even got my real estate license (was a bad time to start). Literally been so stressed on how I’m going to achieve at the level I know I need to and this video was extremely refreshing to see. The industries I know could pave a path to this kind of wealth are just so closed door. Thanks Ed for providing me with a slight sigh of relief
You'll get there and when you do, you'll look back on the things you least expected and intended as being instrumental in realizing that success.
@@EdBolianthanks Ed, sent you a DM if you’d ever be willing to offer more insight. Thanks for making this
Just start saving and be consistent about it. Buy an S&P 500 index fund with whatever you can. Do not sell, even if the market drops 50%. By the time you are 60 you will be wealthy. For a job, pick something you actually want to do. If you are doing it just for the money, it will never work out. Trust me.
This is such a real video, it really feels like it comes from someone that cares about their viewers
A refreshing take on the macro conditions that have helped you along the way. Would love to hear about one or more of the intentional decisions that you made to add to that effect.
Hold the phone!! Was this the 1st honest and sensible video I’ve ever seen in the internet? 🤯
Great story and acknowledgement of what you had going on around you. A lot of people dont or wont acknowledge it and take cresit for all their "sucess". You were able to recognize it and capitilize on it, thats great and I wish you well on your journey
I was born and raised in 1980 in Atlanta as well and by the late 80's early 90's the city was going through a metamorphosis from a small southern city to an internationally recognized city. When the Olympics came to Atlanta it changed Atlanta in everyones eyes forever. A lot of people took advantage of this and it changed their lives as well. My family has a construction business that grew from thousands to millions during this time.
While you were able to benefit from the housing market crash of 2008, it was the opposite for my family. We almost lost everything because we were into construction and real estate. It took me 10 years personally to get back on my feet and I'm still not where I was before. Im saying that to say you are absolutley correct somethings are definitely out of your control. Its just whats happening around you and whether can take advantage of it or not. Its great to hear your honesty about it. Thanks for this vid.
This is an awesome video and I feel like it is spot on ,very transparent and also very accurate. Being a black male I just want to say I feel you did a wonderful job of articulating everything thoroughly and correctly so that it is easy for everyone to see things that may have been in your favor and that it is not because of the color of your skin or your parents. Keep doing great work and stay blessed.
Ed this was fantastic. You make an excellent moral role model for a lot of what I am guessing is a predominantly young and male audience. Everyone could use more influences like you in their life. Good on you for using your platform to share this message. Really appreciate you.
The emotional intelligence to acknowledge the forces at work that helped you achieve what you have achieved is something to aspire to. I look back at how I have managed to nearly 4x my salary in the last 9 years and be nothing but thankful to the opportunities that have been there at the right time to make it happen. Congrats on not living up to your potential and still have a Veyron
Another incredibly uplifting and encouraging video. Well executed, Ed. I am about 10 years older than you and this was great to think through. There were difficult times but certain things happened at certain times for us and the timing outside of our own doing has been good for us and our children. This is a great reminder video.
I feel this strongly. I went to school, got good grades, got a good degree through their business school, did several internships, graduated in 2013 and the best salary I could find anywhere was a measly 38K, albeit with full benefits. I was getting by ok, but it REALLY put me behind in being able to save for a home.
I make good money now, but I'm forever chasing reasonable affordability of a home. It sucks
Great video talk! Born and raised Gwinnett county right here. Shiloh ‘04. Cool to see a fellow GwinCo doing it big
Good on you Ed for acknowledging it. I was born in 05 and was not in the position to get grants for school so I just last year finished paying 75k in loans. On the flip I did get a house in 17 and amassed a similar amount of equity as you. The ebb and flow of privilege is a real thing, and I do my best to remember there are people who will do everything right and still fail to dig out of their current situation. I worry for the current generation coming into a very cut-throat and brutal job market.
Ed thoroughly enjoyed this video! I have immense respect for the transparency displayed in it.
Thanks for sharing this, as someone who migrated from the Middle East to Canada and working hard it's good to put in perspective how life unfolds for each of us differently. I'm happy for your success and love your channel as well as VinWiki. Keep it up
Wife and I graduated also from Tech (way before the Zell), and our two eldest also graduated a few years ago, staying on Zell the entire time. Youngest is a Jr. at UGA; also always on Zell. Great program.
Practically the same situation. Mom and dad taught me the same things…but they paid for me school allowing me to take an entry level job with a lot of potential that somebody with debt wouldn’t have been able to take. 36 now and earning in the 1% annually. Purchased a home in 2019 that’s worth twice what I paid. Started making real money in 2016. But I see people just a few years younger than me that even earning the same couldn’t have what I have. I totally sympathize with them.
Videos like these are why I respect you so much. PREACH ED PREACH!
I was born in 84 and also went to school in Atlanta for college and I TOO, bought a house in 2010 for CRUMBS. And also have a ton of equity in real estate. Still Ed, we also knew what to do and dared to do more than others our age. I also have friends who were more aggressive than I was and have even more of a net worth. I'd still recommend people look for real estate deals throughout the country. They still exist and I've been averaging 1 house per year.
Ed you are my hero for making this video. I no doubt believe the Lord had you address this issue to those that are looking at your success. Much respect and God bless.
Ed, your message is a great dose of reality. I also graduated from Georgia Tech, but in 2005. I pursued a career in commercial real estate and found myself laid off in early 2019 due to the recession and had just earned a master's degree while working full time. It was a low point in my life after working so hard. I got back on my feet and my wife, who I met in grad school, and I have enjoyed a few years in the highest tax bracket...a far better living than the unemployment checks I received for a few months in 2019. Just as the tide can turn against someone's efforts, they can certainly give a boost and you'll enjoy riding the wave. I hope that for all who see this video and are struggling, you are able to find your way.
I appreciate a rare bout of honesty on a platform of pomp and peacocking.
Congratulations Ed!! You most definitely deserved your success!! Some people would call it luck, I'd call it hard work!
I barely ever comment on videos and we’re very different people in general, Ed, but this may just be the most accurate and aware statement from anyone successful I’ve seen in a very long time. I’m lucky to have been born in Los Angeles in 1985, and benefitted from a lot of the same ability to ride the tide. I never forget how lucky I am, and I’m glad you don’t either. Very cool, bud. Wishing you continued luck and success!
As a young Georgian myself I look up to you, whether you know it or not you are an inspiration !
Ed, I just finished this video in my car on my lunch break. I’m working right now to get myself into flight school. This video just helped cement some of my thoughts and help rid some of my worries. It was very well said, and very well received. Thank you, you’re right. It’s not always you doing something wrong or right, sometimes things just happen. Our time will come. It just takes time. Keep working hard, have a goal, and you’ll be there too.
Timing is everything, and there has NEVER been a BETTER time to be entering the aviation industry as a pilot. Keep at it and you will be rewarded beyond your wildest dreams. 👍
What an incredible message Ed - THANK YOU for sharing. Great perspective!
Well said Ed, and sage advice.
I’m not sure if Ed will see this but around the time you started vinwiki I started watching it because being from the same area of Georgia and the videos coming out around lunch while I was working in college I’d always watch them. I even had a small conversation over twitter with you some years ago. I have to say in a world of flashy influencers and such, I have always looked at your approach to life, humility, and Christian values as something to aspire to. I hope you continue doing great things and one of these days I’ll eventually take the mountain drive you told us all about in one of the vinwiki videos years ago! Where I live now in the mountains I see many performance cars come by. I’ll eventually get my own to go on that drive!
One of the most humble and well respected man in the car industry! Thank you for the amazing content!
Ed....really enjoy your videos! Always a pleasure sir. BTW, You went to NGHS with my wife, we live in Suwanee.
Thank you. I was back there for career day last week.
Fair play to you ED, It’s funny how life works out sometimes… my plan is to start an electrical company in 4-5 years. But life can change very quickly! For good and bad.
Best vid on YT in a very long time. Thanks, Ed. Sincerely.
Thank you for this Ed. Comparison is the thief of joy but the truth allows inspiration in comparison 😊
Great video, Ed. A message a lot of people need to hear.
Thank you. I think this is one of the ways you, Doug, Chris Harris and others can truly give back. Talking about life once in a while is certainly as important as talking about cars.
absolutely agree with you Ed, its about a combination of factors that constitute success. My son is on tract to be a millionaire in a few years out of college. We began learning about investing and he put everything he made into it, as well as what we could give (which wasnt more than a few thousand.) He is taking what he learned from his parents and using timing of market to make the best of things. My parents didnt know about investing, but encouraged me to learn just I did with my son.
In 2008 I was a sales manager at a bike dealer. We had our 3rd best year in 35 years. I akipped that recession
Motorcycle or bicycle?
We want more life / business advice from Ed!
I absolutely love this honestly about how there is luck involved to everyone's position, it's obviously not all luck but it's a factor.
B5 S4 was a great car. Really like seeing this side of you.
The honesty is what makes Ed’s videos so enjoyable. I find that it has become a big competition to flex wealth. It’s not the cars fault but the creators. This video added a lot of. Value to the community you are building
I have to add one thing to this; it’s more than just paying attention to your circumstances and timing to make the right moves, you have to keep working hard to be sure you’re in the right position to be able to capitalize on them. A great, GREAT person in my life was listening to me talk about how lucky that I was to have the opportunities I had and where my life was going and stopped me mid sentence to tell me that it wasn’t luck at all, it was that I kept working hard and created those opportunities as a result. Those words resonated deeply and gave me a stronger sense of pride that played a part in my own personal growth.
Great points Ed. I went to college with a Pell Grant and came out debt free.New homes were 60k when I graduated and jobs were plentiful.
I can appreciate this, a lot of adults more so the boomers would say "younger gen are lazy and etc etc". I'm not mad that you have the things you got but the truth of the matter is you were lucky. Is there hard work still involved? yes, absolutely...But you were born at the right time blessed to take advantage of college assistance programs, buying a home after the housing market crash. I'm just glad to know that not everyone is delusional
I’m really glad I watched this video Ed. Thank you for inspiring me since I was 16. Going on 25 now, and I hope to enjoy the life I’ve been given on this world even just a fraction of the way you have.
In almost 4 years of owning my first house, I've gained just over 100k in equity.
It's crazy when you buy a 189k house and a few years go by, and it's turned into a 300k dollar house.
The problem is if everything else is propped up. Selling and getting into something else will take away any of that equity.
@@sarahdell4042 Correct... and since you have to have a roof no matter how you do it, the building you're living in is a liability, not an asset, even if its building equity on paper.
It goes against what most people believe/are taught, but it's true.
@ Yes. You could always borrow against it, if you have solid equity and a good plan to grow it. Most don’t though.
@@sarahdell4042 That's exactly how so many people got smoked in 2008... It's a risky game.
Unfortunately the value of currency has gone down minimum 3* in the last 4 years due to the insane increase of money supply. so you've actually lost money
The real reason Ed is successful is really his great attitude ability and I believe faith. God bless you brother.
Nice to hear you say that you are privileged. We all need to be thankful for the things we have, as there are so many people with less. Think about giving back one day also. That’s what I have been doing and it’s very satisfying!
I love the objectivity and honesty of this
Absolutely wonderful speech thank You sir !
Absolutely love this. The bevy of successful people and influencers telling less successful people that hard work *will* result in success implies that if you are not successful you simply are not working hard enough, and we wonder why depression, anxiety, and burnout run rampant in this country. On the flipside, as you mentioned privilege isn't the *only* ladder to success or self-satisfaction, and it's important for people and prospective content creators to keep an open mind about the possibilities of their career, their hobbies, and their life trajectory.
Great points. It takes a bit of both - hard work and great opportunities!
As a 20 year old kid who didn’t decide to further my education and had life happen to me (had a child) i often compare my self to my peers and this made me realize everyone goes through life at different speeds and different times very nice speech ed
this was extremely motivating and humbling. Great job on putting things in perspective!
Privilege means nothing without some level of effort, and you put in a tremendous amount of effort to achieve what you’ve got. Fantastic realistic explanation of acknowledging your advantages, but also sharing the work it takes.
You are a risk taker and therefore good at leveraging debt. It is a common story for many business owners. I watch in awe as a corporate employee.
Thank you this was a great motivation.
I truly appreciate your story and wish you and your family the best during this holiday season.
Very humble, nice job...
This video was a rollercoaster in the sense that I wasn’t sure what to expect. I was worried about this being the last video I watch scared you would’ve said some rich dude shit
and you did the complete opposite what a humble speech so sincere,honest and encouraging today was the perfect day for this video 🎉 loved the car content but always appreciate a video where a creative is showcasing their personality or perspective. 💪🔥
And just like that, despite having watched videos with you in them for over 10 years, this here is why I am subscribing to you.
I haven't done as well as you because I'm not as leveraged and havent taken as many risks. But I also made the fortuitous decision to buy a house in 2010, close to the bottom of the market. That decision contributed a lot to my net worth.