I was used to making terrible financial mistakes,.now I've paid off credit cards and cut a lot of debt. Spending is way down. All the money that used to go to crap, now sits and grows in my savings..... it's like a warm hug every time I look at my bank account.
Your dollars are rotting in the bank and you’re essentially giving the bank money to loan out and profit off of. at least put that in a money market savings account (5% yield, last I checked).. Start putting some in a ROTH IRA as well.. you're off to a good start.. keep it going..
Investing Is more than reading quarterly reports. Learnt this from reading Peter Lynch's book. I believe there are people who do this for a living, and I just delegate the task to these professionals. That's how I make money from the market to be honest.
SOPHIE LYNN CARRABUS is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
He had the car for 84 months. Even if it is worth 24k less than what he bought it for that means the car cost $285 per month in depreciation over the time he owned it. Maybe you can do better than that but you can also do a whole lot worse.
Sure he got to use the car but he lost 24000 dollars for the privilege . Poof. Gone. A $10,000 used car could have lasted him the same and would probably be worth more later.
Idk what bro is talking about men don’t buy things on sale, I almost never buy anything that isn’t on sale, AND I don’t know what women care about sales they buy full price
I Rember a coworker got married and the wedding cost around $20,000 and his wife father paid for the majority of the cost, after a couple of years the separated and he was scared because his father-in-law was what they called a mad man if you know what I mean
@@wesleyschumacher486I agree that he sounds ridiculous claiming men never buy anything on sale however you are just as wrong claiming that women pay full price and don't care about sales. That may apply to some women but definitely not all or even the majority just as with men.
to be fair, the whole point of ATM check is pretty much "first year modeling internship" money, and staying in NYC or LA to network and secure gigs in the near future is how she should have used it. Operative being RELENTLESS networking and modeling contract hunting. Not merely living in NYC.
@theragingrodent__ You have it backwards. Weddings are one of the few events where DJ's can charge a rate that actually earns them a profit. I emceed over 500 weddings. You have no idea of the work that goes into putting on a good show. Every other event you gotta do for next to nothing just to scrape by. A good DJ gets the crows going. I was an excellent wedding DJ.
1:50 I mean, you're supposed to KEEP your car for a decade plus. 15-20 years. You're not supposed to trade in your car every few years and care about resale value because smart people drive their vehicles into the ground. THEN get a new one.
In my family a couple older people in my family/ family friends get cars semi new and keep it for 8 years then pass it down to younger ones they keep it till they can afford to get a new car or get another car the that old car will get passed down to the next generation.
@@jasohavents Nah, just regularly wash it. Get a little rust, whatever. Lots of salt and humidity in FL and I've never seen any issues. Is it notoriously more salty up there or something?
The first guy is just getting a mega crappy offer from Carmax. He could sell that thing on the private market for 8-10k. Still a bad decision but not -90% in 8 years
His story doesn't check out. 2017s are around $9k+ with 86k miles. Its possible that carmax lowballed him, but its more likely that there is something wrong with the car.
@@computron5824 Yeah that's true. If it has a transmission issue which is common on certain year focuses then it tanks the value significantly. I'm assuming tho it's still running and driving good
My friend made the best decision ever she said for her wedding she told her family members instead of spending the money on a wedding hold onto that money so we could use it as a down payment on a house they did that four years ago and she has said literally, she would not be able to afford to get into her house today if she didn’t do that.
@@pearlsswinebought a house before the market ballooned, didn’t spend it on a wedding instead, how are you smarter here. Do you want them to rent and not build equity? What about the property value, what should they have done instead?
i never understand why a couple spends a shitload of money on a wedding. thats 1 evening....you are supposed to build a life together. get some fucking potato salad and a grill. the guests will be fine.
And us ignorant Americans think we're the free country. I fkn hate this country anymore. We get screwed on Healthcare and taxed more than any other country.
if they had the resources to and could ta us for the penny we found on the ground, they would, the US is stupid in every cornner they should be stupid in
The real estate guy could have just as easily lost all his money due to the 2007 crash and being over leveraged. I knew alot of people that had a bunch of houses like he talks about that didn't stop buying in time and couldn't sell or rent multiple residences, started getting foreclosed on, and declared bankruptcy.
This is so true. I knew one couple who were flipping houses. They started small, then years later finally got into properties worth multiple millions. All leveraged. Crash came and they lost everything. Back to the 9-5 grind they went.
Or right before Covid, with the eviction freeze, where people were having to pay mortgages without receiving any rental payments in MANY cases, for years! That guy was the idiot of the video, a “what if” made up scenario that just as easily could’ve left him with ZERO retirement, was a more likely scenario. He comes across as one of those types where “the grass is always greener” and likely still harbors a grudge against something that happened to him back in middle school…😂😂😂
Yeah it’s unironically like saying he should’ve invested all his money in bitcoin instead of a 401k. Except probably even worse than that, since even knowing what he knows now he still could’ve gotten burned the rental route if he got unlucky
@@sarikagoode1505I don’t understand why don’t they just offload properties that weren’t paid off and keep the ones that were paid off? Unless everything was leveraged then it makes sense.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $87,000 short of half a million in profit.
Worst financial investment I’ve made. Bought 4 bitcoin for $4500 in 2016. Kept them in my wallet on my phone. Ran over the phone with my boat trailer, didn’t back up the wallet. Tha would be more than $250k today
Ouch! To be fair, you probably would of sold long before now. Hindsight is easy to see, emotions usually get in the way beforehand. Don't beat yourself up too much.
@@0ptimalyeah we extracted the chips and installed them in a new phone. Damaged beyond repair . It would have been worse if my cost basis were at todays price
My first marriage cost me $30 for the park permit to have it in the rose garden. We made our own food and my wife's sister made the cake. Later we did our own divorce and it cost $800. Win win😊
Seems to me that the marriage was rushed. I would never rush into marriage if I 100% know my expectations are not met, especially financial expectations.
Weddings are the biggest money pit that doesn't benefit the bride & groom, family or friends. My cousin and his girl fell into that trap everything went wrong with the wedding costing 30-40k and now they're broken up and bankrupt lost the house they bought in a year. (That wedding just turned everything into animosity, long story short my cousins' mom and sister are vindictive people and made her life miserable.) Never let family dictate your actions, if they want to wish you well, tell them to help you make a healthy down payment on a home and have a small gathering of close family and friends.
It's very interesting to see the wedding gig in other places, because in my region it's actually a pretty good way to rack in a pretty penny from wedding envelopes (money gifts from the guests). I had my wedding 2 months ago, it was quite nice (tho it completely pales in comparison to the more extravagant ones in my area) and we made back enough to pay the wedding costs, pay the car off and renovation for the house.
I'm getting married in a courthouse and having a backyard grill out with paper plates, my dad laughed. I responded with "At least I'll be able to buy a house, how did your wedding help you?" he's divorced...
Or general market crashes, which has happened twice in the past two decades and is bound to happen against with the rate of inflation. Unless he was buying those properties outright, it was riskier than he thought to handle that many mortgages.
@@pizzazemle6262you are exactly right! I managed two apartment complexes for my brother’s children. (He tragically passed away and they were minors). We barely broke even. The damages from tenants, tenants not paying, property taxes, insurance, etc…Finally got them sold and the children (now grown) were able to buy their first house with the proceeds. Rental property is not necessarily the big golden egg some people make it out to be. It was a lot of stress on me. I have ZERO interest in doing that again.
If you’re broke, get a 90s Toyota Camry. Don’t go in severe debt for a new car that’s going to lose value as soon as you drive it. Learn the basics of car ownership and understand how to tell if a car is good or a POS…you’re not rich enough to be stupid. Learn how to do simple maintenance for vehicles….again, you’re not rich enough to be stupid. Overall, learn to be more self sufficient. The more you know how to do things yourself, the better off you’re going to be in life.
@@Jame6999 And being in financial hardship when catastrophe happens certainly isn't either. But you'll feel awesome if you're in a position to help someone else when they're in need because you didn't care about being seen in a car that kills your wealth.
@@Jame6999 Then buy the fun car and be in debt 🤷🏻♀️. People can and will do what they want. All I know is the feeling of being debt free and owning all of my vehicles feels great. I’m currently saving to buy my dream car. Will I get it immediately like I would if I took out the loan? No. When I do buy it, it’ll be fully mine and that’s gonna make it 100x better to me.
@@Nick-ue7iw I have a 97 and 99 RAV4, a 97 Camry, a 90 Corona imported from Japan, and a 96 Lexus es350. All run great with no major issues yet 🤷🏻♀️. I do my own routine maintenance on all of my vehicles and if a bearing goes out, I’ll replace it. Same with an any “decaying rubber” seals that may cause issues. As for rust, all the frames are solid. My 97 rav4 has some body rust but it also has over 380K miles (still runs great though). I love 90s Toyotas. They’re a solid choice for people needing a reliable and affordable vehicle. You just have to have enough common sense to tell if a car you’re potentially buying is a POS or not….that goes for any car, new or old.
My husband and I spent less than $7k on our wedding and half of that was for a good photographer, another good chunk was the food. $30k on a wedding sounds batshit insane.
+$3,5k for some photos? I am afraid to ask whether the photographer gave blowjobs during the wedding, if he/she didn't, seems like a waste. And those ought to be some damn good blowjobs for 3,5k/day. But jokes aside, the shaky photos of some relatives seem warmer than the cold, serious hands of a professional. $7k overall is ok though, I guess.
@@RafaelMunizYT If you can plan for and comfortably afford 7 but would have to go into debt for 30, so you spend the 7 you planned for, there's literally no issue. The wise thing is to live within your means, and if your means is 7k for a wedding, that's fine.
What people dont understand about realestate is that it is not set and forget like the stock market. Its a business that needs run. Its alot of work and stressful.
Yeah I’m waiting for my landlord to replace the broken windows. It’s all eight windows and a sliding door. I know the price tag from when I helped my ex replace four windows and two sliding doors.
Exactly. You can always tell the idiots who make those videos have no idea what the hell they are talking about. And he put $255k in a 401k over 17 years. It’s not like he deposited a $255k check one day. So it’s not even an apples to apples comparison. He never had $255k to put down on properties. But again, it wouldn’t matter because that guy is a moron and he would never be making the money he thinks he would be.
Cars: It's not about the car's value. Once you buy a car, assume the money is gone. The car's value is in that it can get you to work and keep you safe from getting mugged in public transportation.
Buy you a $6000 car and you basically drive it till it dies. New Cars are the worst financial decision. If you like giving your money away give me your routing number 😂
Bought a compact su for 20k which includes all the fees and taxes. Will eventually leave that car for my parents and I will buy a better one in the future.
I'm a night security guard with a master's degree making $42k a year. I don't even get job interviews even though I mass apply for jobs almost every day. Thank God I have no student debt but you'd be so screwed if you did.
Lol the fact that you still frame this as though it's such a travesty. Studying and writing term papers is not a skill, Tyler. And mass applying to jobs is the worst way to ever try to get a job. Omg it's so obvious that you don't have a single grasp of how the real world works. College was literally an extension of primary school for you and it shows.
@@agagqbq So obvious, why not everybody in US just get unpaid internship that is basically slavery and use their extensive connections to get good paying job? Because everybody have connections to some big fish
You can have a small nice wedding with your families that will not leave you broke. By all means celebrate your union, but using common sense and a lot of love for each other's financial future.
If i could turn back the hands of time, i wouldn't have gone to college. Had i known all you have to do is take an exam to obtain certifications in both pharmacy and computer science, i wouldn't have student loans, and i wouldn't feel hard-pressed about finding a job. I had no clue about those exams until after i was done with school, which was pushed onto me. Now i make sure to research on topics rather than rely on my elders to teach me anything. There's always other options
Especially nowadays when there's tons of certifications you can get entirely online. Theres a lot of solid opportunity out there beyond college, just have to dig deep enough to find it. For me personally, I went into the trades. Love my job, super solid career with a great retirement plan and excellent work-life balance. It breaks my heart to see so many people my age struggling to find work, saddled with six figures in debt and a degree they were promised was valuable. I see myself, kind of just stumbled through life sticking to what I was good at and ended up living very happily making great money. And then I see others who were certainly more driven, focused, and forward-thinking than me. Planned for the future and took all the steps they were told to. Model children, teenagers, and young adults by all accounts. And yet they're struggling, unable to find work, squandering their well-earned talents and literally getting sick from the stress of it all. I see all this and I can't help but feel like there's been a terrible unfairness inflicted on them. I'm not exceptional, I'm not particularly gifted. I'm not a particularly hard worker. But those kids are! They worked their asses off to get through all that school. Something I could never do. And yet here I sit reaping all the rewards while they wallow in their stress in a world that refuses to let them show how amazing they really are. Sorry for the rant I'm just really sad for some of my friends lol.
It’s difficult because in the state of jobs right now getting a degree and even the certification for computer science is not enough. Lots of white color jobs are not hiring and everyone always says to go into tech and get that easy certificate, but the demand just isn’t there and the market is super overstated. I’d say my biggest mistake is trying to get into the field. A trade is better off ion this economy but then again that always changes.
Losing $24,000 on a 2017 Ford Focus is not as bad as the depreciation on a brand new $90K truck. After the first seven years there's no dealership that would offer anywhere near $66K for it unless the mileage is extremely low.
The restate guy is dead wrong. He is not accounting for your properties being vacant for 1-2 months every 12 months. Sometimes you will get people that will stay for 3+ years, but sometimes you will get people that will pay for 8 and stay for 10-12 months and you have to evict them, they will also do damage so there goes most of the 8 months (sometimes even more) of the rent that you did collect. Yes you can make more money then doing the 401K route, but you are almost always going to have to be hands on to do that.
Don't forget the value of your health and time. If your car malfunctions, bad things can happen, which have to be weighed against the cost of a car with higher reliability or safety.
Well like he said in the video, even a shitbox is going for $3k minimum if it runs and drives. That's how it is in Michigan anyway. I guess I could travel 4 hours south to Ohio and save $1000 but it's still ridiculous.
My wife and I got married for the cost of the marriage license. My best friend (who is a mutual friend of ours) was the only attendant, and our witness. The officiant was a family friend of hers who did it free of charge. Money problems are the number one cause of divorces. The data isn't really there but I wouldn't be surprised if there's some correlation between the cost of the wedding and the divorce rates of couples.
Lol it's so cute that you think money is the number one reason for divorce. 80% of divorces are initiated by women and almost all of them cite boredom.
@@pearlsswine according to the cdfa survey from 2013 the top 3 reasons given are incompatibility, infidelity, and financial issues. Considering the first two can't really be quantified in any meaningful way, and we have TONS of data relating to consumer debt for single, married, and divorced individuals, what's so cute about that?
Maybe because the expensive wedding people need to PROVE their value to others, and so they will never be happy.. Same with people buying expensive clothes, gucci, supreme, etc.. they only live to show themselves off, but these people have no value actually
@@pizzazemle6262 definitely could be a factor. Actions usually come from personality traits and values, not in a vacuum. That's why it's so important to pay attention to people's actions and not just their words
For guys getting married prenups should never be explained to your soon to be wife as you protecting yourself. It is there because divorces often happen when you think the worst of the other person. Thats not a healthy mindset to have when discussing who gets what. Its there to lessen that friction and fairly divide assets at a time when yo both were more level headed.
I like how divorce attorney James Sexton explains prenups. You determine the terms of your contract should the partnership end. Otherwise, the state will determine the terms. In what other contract do people leave all the terms up to the state? Hint: none that I am aware of. It just makes good sense. P.S. I am a woman.
I agree about the weddings being a huge giant waste of money. Use that money to start your life together! I got married last year and we paid under $300 for both the rings and $70 total for the marriage-no regrets! Also I really hate the narrative that the internet pushes that women just get married so they can divorce you and take your assets. I was married before and we split the house that we paid for together and walked away with our own personal incomes and 401ks even though his income and retirement fund exceeded mine by a quite a bit. Also he had a huge amount of debt that we spent years tackling with both of our incomes. We divorced about a month after his debt was finally paid off. That was after about six years of pinching every penny and making extreme budget meals to get out of the hole he dug before I ever knew him💀
In Australia, if you win $100,000, you get to keep $100,000. You don't pay tax on it. The government knows you will pay tax when you buy things so they don't care.
I've noticed Americans love paying tax and get very little back. No tax free allowances, getting foriegn income abroad is taxed unless they renounce their citizenship, even employees have to their own taxes, it's not automated, also love hiding sales tax until it's totalled up.
Sold cars out of high school when I didn’t know what I wanted to pursue the amount of guilt felt giving absolute terrible apr on hooptys for people with bad credit makes you feel bad for the suckers☠️
I’m gonna be totally honest here, I’m excellent with money. I have $30,000 in the bank. I have a paid off car and motorcycle. I’m good to go. I watch all this financial stuff to make myself feel better and because it’s funny lol
I do the same thing, what is wrong with us? Why do we as humans like to watch other humans doing poorly in life to make us feel more secure in our own? It’s kind of messed up if you think about it, but also a learning opportunity to not make their mistakes.
As the owner of a catering company I never understand why people get these elaborate weddings, I mean it keeps me in business but I would never for myself lol 😅
Honestly you may never know the value of that $1 you have until you go bankrupt, the bad experience I had last year really made me feel that our school curricula should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed it show me the hard way. Thank you for the nice video its always interesting to watch your content
I agree with you, taking a investment decisions is never a bad decision, that's why I always urge everyone to start investing somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
Obviously in these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances because even the bank is insured, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy to avoid taking wrong decisions.
@@eseieanasIf you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in gold last year under the tutelage of my Financial -counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@@perefeghaandrew8076Hello... , How can one find a verifiable and trustworthy financial planner? Especially when it has to with financial, I would not mind looking up the financial planner that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances or make wrong decisions
The wedding girl is 100% correct. My wife and I spent less than $1,500 rings included on our wedding and festivities, and most of that was the rings. Still love each other to this day
The real-estate business is always shown like there isn't ANY risk to it. Which is really not the case. I work in a office with someone who spent 400'000$ on 2 properties (multi rentals) that went to shit. One developed massive foundation issues, the previous owner messed with the pre sale inspection (allegedly). Now its unsafe to live in and insurance is not willing to pay the 250'000$+ needed for the repairs. The legal battle is now at over 50'000$+ . The other building is not as bad , but he still had water damage from a tenant that costed him alot of money, insurance covered most of the damage but not everything. I get it, you take out a loan get a property and tenants pays for your loan. But if you dont already have alot of capital on hand to cover the ''shit happens'' moment , you can be in deep shit. This angle isn't shown often and its untrue that real estate is ''only going up'' , sure the property value is , but so does the maintenance cost , try hiring a plumber or an electrician for under 60$/hour.
12:47 that makes no sense though because he did not have that principal until after the 17 years of putting it in. So he could not have "easily" put it down as a down payment.... he didn't have that 200k yet as he had not spent the 17 years working.
Yeah and they never talk about when tenants stops paying rent or having vacancies for months … to succeed in real estate you need to have deep pockets for the rough times
16:04 Guaranteed this online fitness coach with “employees” was an MLM hun with a down line, probably Beach Body Fitness. I really wish these people wouldn’t refer to themselves as business owners, they’re predatory.
Yeah, especially the pressure from what I'm assuming is her upline telling her to "invest in herself," which means that they just want her to purchase products from herself to keep her rank or whatever.
I think the worst part about wedding costs that they don't tell you, is typically in the beginning of the process the venue will rope you in with the "base cost". Then you sign off on it, but 3-4 months before the wedding they start hitting you with "ohhh you want tablecloths? that's an extra $1500" etc. Our up front cost was 25k and when it was all said and done the venue costs ended up 32k NOT including photographer, floral, dj, bar tab overages etc.
Those boxes of Penn on the guy's counter are saltwater fishing reels. They go for $300.00 each. How fucking stupid when you have two hands to control a single pole with? Guy's got about 11 reels on that countertop. So about $3,300.00 just in reels for what exactly??
Idk why you would need 11 but technically you could fish with two reels at the same time, and maybe use a 3rd to bring a friend out fishing but idk what you’d do with the rest of the 8
I troll with up to 8 rods with lines out in the rod racks. And you can get those Penn reels for like $125 and with maintenance will last forever so there is that. You probably just don’t understand fishing enough to comment. Have a great day then
These comments are true and correct. But what is not factored in is. - repair cost- maintenance- insurance- taxes- normal wear and tear items. Like brakes- tires- very expensive light bulbs that burn out. Oil changes. And that’s just the beginning. You have transmission fluid and filter changes. Air filters- inspections. Let’s not forget fuel. You have to look after these things so the vehicle gets you to work and back while you’re getting it paid off. And it gets totaled because someone in a POS thinks that red light or stop sign or one way street sign does not apply to them.
Community college and grants/scholarships are the key to going to college. Got a degree in accounting and had 16k in debt. Paid it off now and am now a semester away from a computer science degree with only >5k in debt.
I got an associates business degree from community, then transferred to juco and got an official degree for literally not even one years worth of money at university.
The people who say they'd have invested in real estate forget with rentals comes tenants as well as property management. They don't sail on without problems like tenants damages or not paying rent and learning as well as managing the court processes.
He was acting like it would’ve been 100 percent passive income, with no effort, risk, nor inconvenience… That guy may have been the least bright (and certainly the least grateful) of the bunch. His situation was entirely hypothetical and very likely would’ve ended badly…not to mention the STRESS and effort that is involved in being a landlord, clearly he’s never done it…🙄🙄🙄
$21K for community college is crazy! I had $24K for my bachelors degree and that’s because I took too long to finish it. It would’ve been $18-20K had I finished on time.
11:33 totally agree on that college portion and why I'm in so much debt. Make sure you actually want to go to college and not just go because you feel like it's an obligation
That's sounds like me. I love my money, but possession is a ball and chain. I set myself up so that I can jump on my bike and just go on the drop of a dime.
Money in itself is just paper, in reality it equates to security. If your possessions don’t make you happy, you are spending your money on the wrong crap. You should t spend money on things that don’t make you happy. Otherwise, it’s just stuff or better yet, it’s money in an abstract form and you should sell it to get more money/security.
Me and my ex wife got married at the court house, had a family member take pictures of us in a beautiful park, we had dinner at Texas Roadhouse and a cake from Kroger. We were happy in marriage for 10 yrs and are still best friends to this day. We would laugh at others who spent thousands on their wedding
I have wasted a decent amount of money but not as bad as others and most of the money I spend is on food. I generally try to be frugal. Keep in mind everything is trying to rob you, including yourself.
That last part is really true, people really don’t understand that this country unfortunately is a business, therefore it’ll try its hardest to lock us into debt, college, roadways, etc. forcing people to spend money like dogs. It’s so easy to resist but everyone seems to fail.
I'm not great with math, but i do understand basic financial stuff. I'm frugal, do the shopping, and generally I only buy things we actually need and use. My husband thought I was nuts one day because I called him and asked if I could buy something completely frivolous. He said "Sure, no problem." It was a 3 inch soapstone squirrel that cost around $10. I love squirrels!
I made a big mistake buying solar panels. It was supposed to be 5 panels on front part of house for 18,000. They did front & back it cost me 30,000. What a scam .. over all my electric bill is 45-50.00
Disagree with the real estate one as well, the dude got a 100% match probably and then 4x'ed his money in the stock market and he's talking about 2x'ing in real estate not even including the missed match of probably $200k, ridiculous. Yes, you would have income with the real estate buy now your $1.2 million makes $50k a year and you don't have to go unclog any toilet and evict people.
FYI: You negotiate the price of a car first (new or used) and THEN you talk about financing & monthly payments! And always get an aftermarket car warranty on a used car......And always do a two-year AA degree at a COMMUNITY COLLEGE, to see "if" you like "it" before committing "the big bucks" investment on a four-year college!
Agree with you except on the warranty part. Warranties are usually a bad deal for buyers. Instead, take that money and put it away for growth. Make your own warranty
kinda glad i grew up in the internet age because as a result im VERY cautious with my money to a point where its probably neuroticism. I had a tiny student load (3750) and hated every second of it, thankfully paid it off inside of like 3 months when I got a job out of college. now im debt free.
The divorce rate is 50/50. Not to mention the 10% staying for kids and another 10% for those staying to keep their assets. Guys, get a prenup or don't get married. Divorce lawyers who make their living off this admit you shouldn't get married if you're a man.
In 1990, I bought a 7 year old car for $4k saving 5 hours of riding the bus to work. Immediately, the company transferred me from work 6.5 hours a day on third shift, to 8 hours on second. Next moved next to the beach to save even more on commute time. Learned how to surf ! I still got the car. I love that car ! !
The look of absolute despair and empathy in his face as he listens was very moving. Many people would default to just making fun of these people or otherwise running them down for their mistakes. So many finance channels act as kind of "laugh at these poors/idiots" outlet. Thank you for being kind, thoughtful, and forward looking.
im glad education is free here. I can’t imagine being pushed to continue a degree i ultimately end up not liking, just because i could not afford dropping out and restarting. I’m glad i’m free to make this decision
Zero college education here. No technical school. High school diploma and a willingness and drive to learn my technical trade that I love to do. I get up every day for 30 years, clap my hands together, and skip to work every single day. I have zero regrets and zero school debt, and I would still do this job even if it paid less. Fortunately, I don't have to take less. College isn't for everyone. I would like to know if my doctor and lawyer went to college, but the manager at Hooter's, I don't care.
5:10, last I checked it was 50/50 for heterosexuality couples. The divorce rate is higher if the woman earns more than the man. And it’s even higher than that when the woman also has a college education.
Two of my close friends each spend around $50k for their weddings last year. Neither were overly fancy and a lot of money was wasted on things guests didn't even bother with. I plan to get married at an AI in Mexico --- way cheaper and it's a vacation for everyone!
My friend pays $1000 a month on his two cars (not including insurance), has multiple maxed out credit cards, and has a young son with a girl he thinks about leaving half the time. She got pregnant only a few months into their now 6 year relationship. Bruh..
I bought a 2021 Sportage last July, 33,000 miles and I was so stupid that I got the warranty. I don’t drive a lot. I think I put 600 miles on it since. But last month I canceled the warranty and got most of my money back, let’s say the finance company got it back. By the end of the year, I’m gonna pay the car off. All I have is a house and a car payment. That was stupid, but usually, especially since my husband died a couple months before Covid hit, I am pretty smart about money. I hiccuped you might say. But I put two2-2.5k in savings every month. Things are going to get much worse with the economy I want to be ready for it. When my escrow payment went up $350 a month even though I can handle it, i was feeling grateful that I can, then I started feeling resentful because just because I can deal with it doesn’t mean I should have to. Like everybody, we shouldn’t have to go through this government made catastrophe. Yes I’m grateful to the Lord, Nonetheless. I wouldn’t even know what is on TikTok if it wasn’t for some TH-cam channels. No interest.
Youre absolutely right...this is a government made catastrophe. Government is the source of every major problem this country has. until the people are ready to make some hard decisions and sacrifices to take the country back it will only get worse.
I understand the guy that talked about the 401K contribution. When I was in my early twenties I was already trying to save up money to buy a home and all I could afford was a condo but I still had a mortgage before I even graduated college. It took me a very long time to get my degree and I graduated as a nurse at the age of 32 but now I have a home that's halfway paid off, a lot of equity, and a very low mortgage payment. I also invested in buying land that is now worth a quarter million dollars. Now at the age of 34 I barely started contributing to my 401k but it's mainly because I have a match. And I'm very happy that I did it that way and not the traditional way
If I had gotten engaged 5 years ago, I’d be all for the “save the money on a wedding for a house” but in my area, that money will barely get me closing costs.
Honest question, would you consider moving? I washed to buy a house in my home state but it's too expensive so for me when I'm ready to purchase I'll have to purchase somewhere else.
Some might say a wedding isn’t “worth it”. But we did have a bigger wedding and spent extra money on a videographer. I now have captured memories of all our close relatives and friends in one room to cherish. Some have now even passed on. It’s something that was completely worth the price tag to us.
My wife and i spent $5k on the engagement party wedding, and reception party. I gave my wife free reign to choose what engagement ring and wedding ring she wanted. She chose a $50 engagement ring and a $200 wedding ring. I think i chose the right woman 😂
When I came to the US I was 32 and everyone told me to do a Masters in Accounting so I could become a CPA. I did it and I am $33,000. I do make $108,000 gross which is around $79,200. I still think it's insane they require a Master to become a CPA. The college classes are not even high quality. I am throwing away money. I hate that I fell for that.
The wedding industry didn't make you do or think anything. You made that decision, you decided to spend that much money, you felt you had to do that to impress others. The wedding industry simply thrives on people like you who are already like that, they didn't turn you into that. Our wedding was beautiful in a golf course and it only cost us about 7k including the rings.
I can relate to the lady in the middle about college. I didn't realize that college was only an option. I thought it was required and there was no other option. I had the student loans too, but I wanted to prove that I could be successful without a degree so i dropped out.
I went to UCLA because that's what students were doing after high school. I knew back then, college was a scam, unless you were planning to become a doctor, lawyer, nurse that really required knowledge in that field. Anything else can be learnt on the job.. I took a job unrelated to my education that didn't require a degree, except for a H.S. diploma and I love it. People need to find a field related to their passion. I understand some people are lost in life and would prefer a 9-5 job - that I can understand and relate to. I am so happy that back in college I learned about finance. I also learned it from my parents so I never had debt.
That first guy in the car didn’t make a bad decision. The car still runs and is fine. He can drive it for another 4+ years easily….having a car that cost you $2,600 a year or LESS! You are using it. It’s not a stock or collectors item. $2,600 or LESS for a car to drive around in per year is not a “bad” financial decision. And was a tool used to go to work and make a lot more money!
I just did a calculation of what my E39 5-series "on paper" costs me a month according to a well known motor organization in my country. $130. Yes it drinks a lot of gas that's pretty expensive in Europe, and it does need maintenance. All this is added in that calculation. Luckily insurance is way, way cheaper in my country than in the US. Feels good since this is my favorite car I've owned so far.
@10:14 I subscribed - - - it shouldn't be rare to hear someone say you need to be a responsible adult, your child needs food, you need to pay the bills - yet, it is .....
Here in the UK, when you buy a car, you immediately lose 20% VAT plus car tax, which van run into huge amounts if it is a luxury car. The car depreciates massively too.
@@eightlights4939he's right though. I've noticed Americans love paying tax and get very little back. No tax free allowances, getting foriegn income abroad is taxed unless they renounce their citizenship, even employees have to their own taxes, it's not automated, also love hiding sales tax until it's totalled up.
@@rwentfordable If people would stop voting for Democrats we'd be paying a lot less in taxes. We're on track to be as bad as Canada, will see how this election goes
As someone currently in a contract to buy my first house, there's also a lot of leg work and cash you have to put in on the front end that people who haven't bought real estate don't think about. Right off the bat you're going to have to spend $1200-2000 ish for option and inspection fees just to figure out what shape the house is in and if it's worth buying. That's money you will never see again regardless of if you buy the house or not. I've also probably spent 30-40 hours of my own time in the past couple months to get to this point. Then if we do close it'll cost around another $8K in closing costs, not down payment and not mortgage. So we'll be out $10K in cash before we even start putting equity into the property itself. So that's a big factor to consider with why real estate might not be the panacea financial solution that a lot of people might think it is
Some of these people should never be allowed anywhere near anything that has to do with finances. It's honestly scary how ignorant some people are, but i guess that applies to just about anything else in life.
The business coach who told her to get therapy and it cost her $7,000…she should’ve hired me. I could tell you to get therapy for a lot less lol 😂. Like I’m so kind, I would do it for $700.
Our wedding was $300. It was May 2020, so we couldn’t take a honeymoon, either. Lol. Happily married four years later with two babies, moving into our first home in a week (it’s expensive here in Ontario to buy a house). Best decision ever!
@@pearlsswine yeah there’s that, but I have more money than most people in the United States my age (mid 30’s) except millionaires. $3000 isn’t much out of that money. I could have donated it to charity or something I guess, but I already donate a few hundred to charities for various causes.
The worse financial decision anyone can make is to take out a 30K loan for a wedding and then get divorced a year later.
Yeah and she probably served him with the divorce.. like a typical western woman
Yeah, its true. Its sad
I saw a guy on Twitter post himself with a new car saying he asked for the highest interest rate so he could hustle harder lol
@@getthegoods420 i don’t understand .
It was like motivation to make him work more?
@@getthegoods420that's called Bro Logic. Lol.
I was used to making terrible financial mistakes,.now I've paid off credit cards and cut a lot of debt. Spending is way down. All the money that used to go to crap, now sits and grows in my savings..... it's like a warm hug every time I look at my bank account.
Your dollars are rotting in the bank and you’re essentially giving the bank money to loan out and profit off of. at least put that in a money market savings account (5% yield, last I checked).. Start putting some in a ROTH IRA as well.. you're off to a good start.. keep it going..
Investing Is more than reading quarterly reports. Learnt this from reading Peter Lynch's book. I believe there are people who do this for a living, and I just delegate the task to these professionals. That's how I make money from the market to be honest.
@@PatrickLloyd- I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
SOPHIE LYNN CARRABUS is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I dont understand the logic losing money on a used car. He didn't lose 24000 dollars. He drove it for 7 years!
He does not understand that concept...nor the concept of depreciation...its a 26k Ford....its prob worth 5k on private mkt
He had the car for 84 months. Even if it is worth 24k less than what he bought it for that means the car cost $285 per month in depreciation over the time he owned it.
Maybe you can do better than that but you can also do a whole lot worse.
@@MrObeesho👍👍👍👍
Sure he got to use the car but he lost 24000 dollars for the privilege . Poof. Gone. A $10,000 used car could have lasted him the same and would probably be worth more later.
Exactly. They all depreciate.
9:28 Give a man a fish and he'll eat for a day
Teach a man to fish and he'll spend $3000 on gear
😂😂😂
3k???? You forgot the boat and the truck to haul the boat. More like 200k
Idk what bro is talking about men don’t buy things on sale, I almost never buy anything that isn’t on sale, AND I don’t know what women care about sales they buy full price
I Rember a coworker got married and the wedding cost around $20,000 and his wife father paid for the majority of the cost, after a couple of years the separated and he was scared because his father-in-law was what they called a mad man if you know what I mean
@@wesleyschumacher486I agree that he sounds ridiculous claiming men never buy anything on sale however you are just as wrong claiming that women pay full price and don't care about sales. That may apply to some women but definitely not all or even the majority just as with men.
"i got (presumably) a sudden 100K to invest into anything, so I put it to renting in NYC"
good lord woman
to be fair, the whole point of ATM check is pretty much "first year modeling internship" money, and staying in NYC or LA to network and secure gigs in the near future is how she should have used it. Operative being RELENTLESS networking and modeling contract hunting. Not merely living in NYC.
Could be worse, she could've put it all into HEX at the top!
And that’s the decision she regrets the least
Definition of “dumb blonde”
You know what the say. Women be shoppin.
My cousin spent 80k on a wedding, it was probably the most dissapointing wedding I have ever been too.
@@darthtator1221 thats a lot! I think too much
Why was it disappointing? Spill the tea. Don't leave us hanging like that. Lol.
My ex spent 80k in 2020 to keep me from moving on military orders and lost. 😂
DJs after charging 20 times their usual rate to play the Cha Cha Slide and sexually harass bridesmaids 😃
@theragingrodent__ You have it backwards. Weddings are one of the few events where DJ's can charge a rate that actually earns them a profit. I emceed over 500 weddings. You have no idea of the work that goes into putting on a good show. Every other event you gotta do for next to nothing just to scrape by. A good DJ gets the crows going. I was an excellent wedding DJ.
1:50 I mean, you're supposed to KEEP your car for a decade plus. 15-20 years. You're not supposed to trade in your car every few years and care about resale value because smart people drive their vehicles into the ground. THEN get a new one.
In my family a couple older people in my family/ family friends get cars semi new and keep it for 8 years then pass it down to younger ones they keep it till they can afford to get a new car or get another car the that old car will get passed down to the next generation.
Keeping a car 10+ years in the Northeast with all the salt is a challenge of itself.
@@jasohavents car wash.
@hihowareyou6195 There have been a handful of trucks in my family with a million miles on them from doing just that.
@@jasohavents Nah, just regularly wash it. Get a little rust, whatever. Lots of salt and humidity in FL and I've never seen any issues. Is it notoriously more salty up there or something?
Bro I start sweating hard when I'm about to buy a TV in SIMS 4 let alone losing $20,000+ in real life 💀
Not me, my sims live very lavish. I scroll to the bottom to purchase furniture 😂😂
🤣
@@minkxz8037😂😂😂 fr I live how I wish to live through my Sims
@@minkxz8037you’re a psychopath lmao
Really I mean making bank is not that hard in the sims 4 lol.
Our wedding was just under $5K. Still together and still happy after 27 years. Thank you Lord.
I think I spent $75 on the actual wedding and then a few hundred on food which we ate for 2 weeks and some for a suit...
That’s still a lot
@@GohnwithaG Most women want at least a 30k wedding ! And this is without the wedding dress, the ring and all the other expenses...
@@4SChrisPersonally, I just wouldn’t marry her if that’s what she wanted 😂
Mine was a cool hunnid. We honestly just wanted it to be over with since we’ve been together for 14 years already 😂
The first guy is just getting a mega crappy offer from Carmax. He could sell that thing on the private market for 8-10k. Still a bad decision but not -90% in 8 years
What he didnt mention was the mileage on that Focus. Although 2500 is way to low even if it has 150k miles on it.
True. I bough a ford focus 2017 for 11k
@@Kedediantrue, also if there were any accidents it would tank the value
His story doesn't check out. 2017s are around $9k+ with 86k miles. Its possible that carmax lowballed him, but its more likely that there is something wrong with the car.
@@computron5824 Yeah that's true. If it has a transmission issue which is common on certain year focuses then it tanks the value significantly. I'm assuming tho it's still running and driving good
My friend made the best decision ever she said for her wedding she told her family members instead of spending the money on a wedding hold onto that money so we could use it as a down payment on a house they did that four years ago and she has said literally, she would not be able to afford to get into her house today if she didn’t do that.
SUPER SMART
She begged for money to buy a house and that's the smartest decision she ever made? Lol. Birds of a feather?
@@pearlsswinebought a house before the market ballooned, didn’t spend it on a wedding instead, how are you smarter here. Do you want them to rent and not build equity? What about the property value, what should they have done instead?
@@pearlsswine I can tell you have trauma😂 same😅
i never understand why a couple spends a shitload of money on a wedding. thats 1 evening....you are supposed to build a life together.
get some fucking potato salad and a grill. the guests will be fine.
All prize money is tax free in the UK, having it taxed is stupid.
Here in Canada it’s tax free also.
And us ignorant Americans think we're the free country. I fkn hate this country anymore. We get screwed on Healthcare and taxed more than any other country.
I think most of EU have it that way
I can understand the government wanting to tax it, but I would expect the winner gets the prize *after* taxes
if they had the resources to and could ta us for the penny we found on the ground, they would, the US is stupid in every cornner they should be stupid in
The real estate guy could have just as easily lost all his money due to the 2007 crash and being over leveraged. I knew alot of people that had a bunch of houses like he talks about that didn't stop buying in time and couldn't sell or rent multiple residences, started getting foreclosed on, and declared bankruptcy.
This is so true. I knew one couple who were flipping houses. They started small, then years later finally got into properties worth multiple millions. All leveraged. Crash came and they lost everything. Back to the 9-5 grind they went.
Or right before Covid, with the eviction freeze, where people were having to pay mortgages without receiving any rental payments in MANY cases, for years! That guy was the idiot of the video, a “what if” made up scenario that just as easily could’ve left him with ZERO retirement, was a more likely scenario.
He comes across as one of those types where “the grass is always greener” and likely still harbors a grudge against something that happened to him back in middle school…😂😂😂
Yeah it’s unironically like saying he should’ve invested all his money in bitcoin instead of a 401k.
Except probably even worse than that, since even knowing what he knows now he still could’ve gotten burned the rental route if he got unlucky
@@sarikagoode1505I don’t understand why don’t they just offload properties that weren’t paid off and keep the ones that were paid off? Unless everything was leveraged then it makes sense.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $87,000 short of half a million in profit.
@@williamDonaldson432 Mind if I ask you to recommend this particular coach you using their service?
Credits to ‘Annette Marie Holt’ she has a web presence, so you can simply.
Worst financial investment I’ve made. Bought 4 bitcoin for $4500 in 2016. Kept them in my wallet on my phone. Ran over the phone with my boat trailer, didn’t back up the wallet. Tha would be more than $250k today
Ouch! To be fair, you probably would of sold long before now. Hindsight is easy to see, emotions usually get in the way beforehand. Don't beat yourself up too much.
Still have the phone? U can possibly salvage the data off of it. U prob know that tho, delving in crypto way back then
@@0ptimalyeah we extracted the chips and installed them in a new phone. Damaged beyond repair . It would have been worse if my cost basis were at todays price
Man that hurts 😢
Lol
My first marriage cost me $30 for the park permit to have it in the rose garden. We made our own food and my wife's sister made the cake. Later we did our own divorce and it cost $800. Win win😊
Why get married if you're just gonna divorce?
@@OGbqze why be born if you're going to die?
@@OGbqze i think they most likely didn't marry with divorce in mind lol
@@OGbqzei’m gonna go out on a limb here and assume they didn’t marry with the intention of divorcing
Seems to me that the marriage was rushed. I would never rush into marriage if I 100% know my expectations are not met, especially financial expectations.
Weddings are the biggest money pit that doesn't benefit the bride & groom, family or friends. My cousin and his girl fell into that trap everything went wrong with the wedding costing 30-40k and now they're broken up and bankrupt lost the house they bought in a year. (That wedding just turned everything into animosity, long story short my cousins' mom and sister are vindictive people and made her life miserable.)
Never let family dictate your actions, if they want to wish you well, tell them to help you make a healthy down payment on a home and have a small gathering of close family and friends.
It's very interesting to see the wedding gig in other places, because in my region it's actually a pretty good way to rack in a pretty penny from wedding envelopes (money gifts from the guests). I had my wedding 2 months ago, it was quite nice (tho it completely pales in comparison to the more extravagant ones in my area) and we made back enough to pay the wedding costs, pay the car off and renovation for the house.
I'm getting married in a courthouse and having a backyard grill out with paper plates,
my dad laughed.
I responded with "At least I'll be able to buy a house, how did your wedding help you?"
he's divorced...
And then the whole courthouse clapped
@@DrNiokyi bet dad wasn’t clapping 😂
Did that, still together 12 years later.
Anti-401k guy isn't thinking about property taxes, upkeep, capital gains tax, renters who don't pay, etc.
Yeah, he would definitely fail at being a landlord if he thinks it's free money or it will pay for it's self 😂
Or general market crashes, which has happened twice in the past two decades and is bound to happen against with the rate of inflation. Unless he was buying those properties outright, it was riskier than he thought to handle that many mortgages.
I´d say the stress, that a tenant is going to do some dumb stuff in your property has to be the hardest thing about owning an apartment and renting it
@@pizzazemle6262you are exactly right! I managed two apartment complexes for my brother’s children. (He tragically passed away and they were minors). We barely broke even. The damages from tenants, tenants not paying, property taxes, insurance, etc…Finally got them sold and the children (now grown) were able to buy their first house with the proceeds. Rental property is not necessarily the big golden egg some people make it out to be. It was a lot of stress on me. I have ZERO interest in doing that again.
Wannabe daytraders on their smartphone competing with professionals sitting 12 hours long in front of 6-10 monitors - not a good idea
More like honest day traders competing with computer algorithms that can act faster than any human can think. Nonetheless, still not a great idea
Day trading is dumb regardless
@@radioactivedynamiteyes. Day trading is gambling. Period.
And even those ones don’t make any money.
Just buy the S&P 500 and hold. At the most keep your money in a safe place like a money market and wait for the market to crash, then invest and hold.
If you’re broke, get a 90s Toyota Camry. Don’t go in severe debt for a new car that’s going to lose value as soon as you drive it. Learn the basics of car ownership and understand how to tell if a car is good or a POS…you’re not rich enough to be stupid. Learn how to do simple maintenance for vehicles….again, you’re not rich enough to be stupid. Overall, learn to be more self sufficient. The more you know how to do things yourself, the better off you’re going to be in life.
But it's old and not cool😅
@@Jame6999 And being in financial hardship when catastrophe happens certainly isn't either. But you'll feel awesome if you're in a position to help someone else when they're in need because you didn't care about being seen in a car that kills your wealth.
@@Jame6999 Then buy the fun car and be in debt 🤷🏻♀️. People can and will do what they want. All I know is the feeling of being debt free and owning all of my vehicles feels great. I’m currently saving to buy my dream car. Will I get it immediately like I would if I took out the loan? No. When I do buy it, it’ll be fully mine and that’s gonna make it 100x better to me.
@@Nick-ue7iw I have a 97 and 99 RAV4, a 97 Camry, a 90 Corona imported from Japan, and a 96 Lexus es350. All run great with no major issues yet 🤷🏻♀️. I do my own routine maintenance on all of my vehicles and if a bearing goes out, I’ll replace it. Same with an any “decaying rubber” seals that may cause issues. As for rust, all the frames are solid. My 97 rav4 has some body rust but it also has over 380K miles (still runs great though). I love 90s Toyotas. They’re a solid choice for people needing a reliable and affordable vehicle. You just have to have enough common sense to tell if a car you’re potentially buying is a POS or not….that goes for any car, new or old.
@@Nick-ue7iw Lates 90s and early 2000s is when cars peaked for reliability. Extremely diy friendly to maintain as well.
My husband and I spent less than $7k on our wedding and half of that was for a good photographer, another good chunk was the food. $30k on a wedding sounds batshit insane.
+$3,5k for some photos?
I am afraid to ask whether the photographer gave blowjobs during the wedding, if he/she didn't, seems like a waste.
And those ought to be some damn good blowjobs for 3,5k/day.
But jokes aside, the shaky photos of some relatives seem warmer than the cold, serious hands of a professional.
$7k overall is ok though, I guess.
7k is batshit
@@tristanyuri4680don't forget that's from the nearly $3500 on a photographer
just because dumber people spend 30k on a wedding that doesn't make spending 7k any wiser
@@RafaelMunizYT If you can plan for and comfortably afford 7 but would have to go into debt for 30, so you spend the 7 you planned for, there's literally no issue. The wise thing is to live within your means, and if your means is 7k for a wedding, that's fine.
What people dont understand about realestate is that it is not set and forget like the stock market. Its a business that needs run. Its alot of work and stressful.
Yeah I’m waiting for my landlord to replace the broken windows. It’s all eight windows and a sliding door. I know the price tag from when I helped my ex replace four windows and two sliding doors.
Exactly. You can always tell the idiots who make those videos have no idea what the hell they are talking about. And he put $255k in a 401k over 17 years. It’s not like he deposited a $255k check one day. So it’s not even an apples to apples comparison. He never had $255k to put down on properties. But again, it wouldn’t matter because that guy is a moron and he would never be making the money he thinks he would be.
Cars: It's not about the car's value. Once you buy a car, assume the money is gone. The car's value is in that it can get you to work and keep you safe from getting mugged in public transportation.
Double digit interest rate?
I'd rather get mugged.
@@203_Boy😂
@@203_Boy you're poor then. Buy cash always.
Buy you a $6000 car and you basically drive it till it dies. New Cars are the worst financial decision. If you like giving your money away give me your routing number 😂
Bought a compact su for 20k which includes all the fees and taxes. Will eventually leave that car for my parents and I will buy a better one in the future.
I'm a night security guard with a master's degree making $42k a year. I don't even get job interviews even though I mass apply for jobs almost every day. Thank God I have no student debt but you'd be so screwed if you did.
Lol the fact that you still frame this as though it's such a travesty. Studying and writing term papers is not a skill, Tyler.
And mass applying to jobs is the worst way to ever try to get a job.
Omg it's so obvious that you don't have a single grasp of how the real world works. College was literally an extension of primary school for you and it shows.
@@pearlsswine What's your genius way of getting a job if not applying to jobs?
@@ed_iz_ed probably internships and networking
You can be an officer in military with college degree if that’s something you’re willing to do
@@agagqbq So obvious, why not everybody in US just get unpaid internship that is basically slavery and use their extensive connections to get good paying job? Because everybody have connections to some big fish
You can have a small nice wedding with your families that will not leave you broke. By all means celebrate your union, but using common sense and a lot of love for each other's financial future.
If i could turn back the hands of time, i wouldn't have gone to college. Had i known all you have to do is take an exam to obtain certifications in both pharmacy and computer science, i wouldn't have student loans, and i wouldn't feel hard-pressed about finding a job. I had no clue about those exams until after i was done with school, which was pushed onto me. Now i make sure to research on topics rather than rely on my elders to teach me anything. There's always other options
Especially nowadays when there's tons of certifications you can get entirely online. Theres a lot of solid opportunity out there beyond college, just have to dig deep enough to find it.
For me personally, I went into the trades. Love my job, super solid career with a great retirement plan and excellent work-life balance.
It breaks my heart to see so many people my age struggling to find work, saddled with six figures in debt and a degree they were promised was valuable.
I see myself, kind of just stumbled through life sticking to what I was good at and ended up living very happily making great money.
And then I see others who were certainly more driven, focused, and forward-thinking than me. Planned for the future and took all the steps they were told to. Model children, teenagers, and young adults by all accounts. And yet they're struggling, unable to find work, squandering their well-earned talents and literally getting sick from the stress of it all.
I see all this and I can't help but feel like there's been a terrible unfairness inflicted on them.
I'm not exceptional, I'm not particularly gifted. I'm not a particularly hard worker. But those kids are! They worked their asses off to get through all that school. Something I could never do.
And yet here I sit reaping all the rewards while they wallow in their stress in a world that refuses to let them show how amazing they really are.
Sorry for the rant I'm just really sad for some of my friends lol.
That’s what the system is meant to do. Make you a debt slave. You did nothing wrong, you did what you were told.
I'm in the same boat.
It’s difficult because in the state of jobs right now getting a degree and even the certification for computer science is not enough. Lots of white color jobs are not hiring and everyone always says to go into tech and get that easy certificate, but the demand just isn’t there and the market is super overstated. I’d say my biggest mistake is trying to get into the field. A trade is better off ion this economy but then again that always changes.
Shuold have went two a traid skool like me.
Losing $24,000 on a 2017 Ford Focus is not as bad as the depreciation on a brand new $90K truck. After the first seven years there's no dealership that would offer anywhere near $66K for it unless the mileage is extremely low.
The restate guy is dead wrong. He is not accounting for your properties being vacant for 1-2 months every 12 months. Sometimes you will get people that will stay for 3+ years, but sometimes you will get people that will pay for 8 and stay for 10-12 months and you have to evict them, they will also do damage so there goes most of the 8 months (sometimes even more) of the rent that you did collect.
Yes you can make more money then doing the 401K route, but you are almost always going to have to be hands on to do that.
100% certain the real estate is a guru trying to sell a course
1:25 this is why you buy shitboxes and drive them till the wheels fall off.
💯
You mean Fords 😂
Don't forget the value of your health and time.
If your car malfunctions, bad things can happen, which have to be weighed against the cost of a car with higher reliability or safety.
@@VandroiyIII my 95 corolla has been as reliable as my friends 2020.. just service it like any car and itll be fine
Well like he said in the video, even a shitbox is going for $3k minimum if it runs and drives. That's how it is in Michigan anyway. I guess I could travel 4 hours south to Ohio and save $1000 but it's still ridiculous.
My wife and I got married for the cost of the marriage license. My best friend (who is a mutual friend of ours) was the only attendant, and our witness. The officiant was a family friend of hers who did it free of charge. Money problems are the number one cause of divorces. The data isn't really there but I wouldn't be surprised if there's some correlation between the cost of the wedding and the divorce rates of couples.
Lol it's so cute that you think money is the number one reason for divorce. 80% of divorces are initiated by women and almost all of them cite boredom.
@@pearlsswine according to the cdfa survey from 2013 the top 3 reasons given are incompatibility, infidelity, and financial issues. Considering the first two can't really be quantified in any meaningful way, and we have TONS of data relating to consumer debt for single, married, and divorced individuals, what's so cute about that?
Actually there was a study done a few years ago - there is a much higher probability of divorce that spent $25k or more on the wedding.
Maybe because the expensive wedding people need to PROVE their value to others, and so they will never be happy..
Same with people buying expensive clothes, gucci, supreme, etc.. they only live to show themselves off, but these people have no value actually
@@pizzazemle6262 definitely could be a factor. Actions usually come from personality traits and values, not in a vacuum. That's why it's so important to pay attention to people's actions and not just their words
For guys getting married prenups should never be explained to your soon to be wife as you protecting yourself. It is there because divorces often happen when you think the worst of the other person. Thats not a healthy mindset to have when discussing who gets what. Its there to lessen that friction and fairly divide assets at a time when yo both were more level headed.
It’s an agreement to treat each other fairly while you still like each other
I like how divorce attorney James Sexton explains prenups. You determine the terms of your contract should the partnership end. Otherwise, the state will determine the terms. In what other contract do people leave all the terms up to the state? Hint: none that I am aware of. It just makes good sense. P.S. I am a woman.
That real estate guy doesn't understand how much work owning rentals take plus dealing with evictions and upkeep.
@@koolkitties8552 Maintenance costs 💰💰💰
Yeah, definitely not passive income
@@mccolkso that old guy basically saved himself alot of Stress in the long run.
@@RaydoBaconslayer EXACTLY!
@@mccolk and here he is complaining about his 401k
I agree about the weddings being a huge giant waste of money. Use that money to start your life together! I got married last year and we paid under $300 for both the rings and $70 total for the marriage-no regrets! Also I really hate the narrative that the internet pushes that women just get married so they can divorce you and take your assets. I was married before and we split the house that we paid for together and walked away with our own personal incomes and 401ks even though his income and retirement fund exceeded mine by a quite a bit. Also he had a huge amount of debt that we spent years tackling with both of our incomes. We divorced about a month after his debt was finally paid off. That was after about six years of pinching every penny and making extreme budget meals to get out of the hole he dug before I ever knew him💀
In Australia, if you win $100,000, you get to keep $100,000. You don't pay tax on it. The government knows you will pay tax when you buy things so they don't care.
I've noticed Americans love paying tax and get very little back. No tax free allowances, getting foriegn income abroad is taxed unless they renounce their citizenship, even employees have to their own taxes, it's not automated, also love hiding sales tax until it's totalled up.
Sold cars out of high school when I didn’t know what I wanted to pursue the amount of guilt felt giving absolute terrible apr on hooptys for people with bad credit makes you feel bad for the suckers☠️
I’m gonna be totally honest here, I’m excellent with money. I have $30,000 in the bank. I have a paid off car and motorcycle. I’m good to go. I watch all this financial stuff to make myself feel better and because it’s funny lol
Me too! 😅
Same here. I’m debt free and have cash in the bank.
I do the same thing, what is wrong with us? Why do we as humans like to watch other humans doing poorly in life to make us feel more secure in our own? It’s kind of messed up if you think about it, but also a learning opportunity to not make their mistakes.
It’s sad that you get joy from these people. I feel bad
30,000 ain't shit you are poor rich my guy
As the owner of a catering company I never understand why people get these elaborate weddings, I mean it keeps me in business but I would never for myself lol 😅
@@jmill09 To show off what else ❗
Honestly you may never know the value of that $1 you have until you go bankrupt, the bad experience I had last year really made me feel that our school curricula should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed it show me the hard way. Thank you for the nice video its always interesting to watch your content
I agree with you, taking a investment decisions is never a bad decision, that's why I always urge everyone to start investing somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
Obviously in these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances because even the bank is insured, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy to avoid taking wrong decisions.
@@eseieanasIf you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in gold last year under the tutelage of my Financial -counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@@perefeghaandrew8076Hello... , How can one find a verifiable and trustworthy financial planner? Especially when it has to with financial, I would not mind looking up the financial planner that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances or make wrong decisions
The wedding girl is 100% correct. My wife and I spent less than $1,500 rings included on our wedding and festivities, and most of that was the rings. Still love each other to this day
The real-estate business is always shown like there isn't ANY risk to it. Which is really not the case. I work in a office with someone who spent 400'000$ on 2 properties (multi rentals) that went to shit. One developed massive foundation issues, the previous owner messed with the pre sale inspection (allegedly). Now its unsafe to live in and insurance is not willing to pay the 250'000$+ needed for the repairs. The legal battle is now at over 50'000$+ . The other building is not as bad , but he still had water damage from a tenant that costed him alot of money, insurance covered most of the damage but not everything.
I get it, you take out a loan get a property and tenants pays for your loan. But if you dont already have alot of capital on hand to cover the ''shit happens'' moment , you can be in deep shit.
This angle isn't shown often and its untrue that real estate is ''only going up'' , sure the property value is , but so does the maintenance cost , try hiring a plumber or an electrician for under 60$/hour.
People have forgotten 2008 already. There’s really no hope for humanity.
Property taxes , insurance, and HOA fees keep going up as well.
Anybody who thinks real estate is passive income is a freaking moron.
12:47 that makes no sense though because he did not have that principal until after the 17 years of putting it in. So he could not have "easily" put it down as a down payment.... he didn't have that 200k yet as he had not spent the 17 years working.
Yeah and they never talk about when tenants stops paying rent or having vacancies for months … to succeed in real estate you need to have deep pockets for the rough times
16:04 Guaranteed this online fitness coach with “employees” was an MLM hun with a down line, probably Beach Body Fitness. I really wish these people wouldn’t refer to themselves as business owners, they’re predatory.
Yeah, especially the pressure from what I'm assuming is her upline telling her to "invest in herself," which means that they just want her to purchase products from herself to keep her rank or whatever.
I think the worst part about wedding costs that they don't tell you, is typically in the beginning of the process the venue will rope you in with the "base cost". Then you sign off on it, but 3-4 months before the wedding they start hitting you with "ohhh you want tablecloths? that's an extra $1500" etc. Our up front cost was 25k and when it was all said and done the venue costs ended up 32k NOT including photographer, floral, dj, bar tab overages etc.
Everything is 100% off when you don't buy it. Girl math says they save money after buying a purse for $500 that normally sells for $1000.
Those boxes of Penn on the guy's counter are saltwater fishing reels. They go for $300.00 each. How fucking stupid when you have two hands to control a single pole with? Guy's got about 11 reels on that countertop. So about $3,300.00 just in reels for what exactly??
Idk why you would need 11 but technically you could fish with two reels at the same time, and maybe use a 3rd to bring a friend out fishing but idk what you’d do with the rest of the 8
He prob thinks his finishing buddies look at him like a god because of his assortment of reels lol.
WhAt iF tHeY brEaK?
I troll with up to 8 rods with lines out in the rod racks. And you can get those Penn reels for like $125 and with maintenance will last forever so there is that. You probably just don’t understand fishing enough to comment. Have a great day then
@@joerob3449 👈 Found the guy in the video!
These comments are true and correct. But what is not factored in is. - repair cost- maintenance- insurance- taxes- normal wear and tear items. Like brakes- tires- very expensive light bulbs that burn out. Oil changes. And that’s just the beginning. You have transmission fluid and filter changes. Air filters- inspections. Let’s not forget fuel. You have to look after these things so the vehicle gets you to work and back while you’re getting it paid off. And it gets totaled because someone in a POS thinks that red light or stop sign or one way street sign does not apply to them.
Community college and grants/scholarships are the key to going to college. Got a degree in accounting and had 16k in debt. Paid it off now and am now a semester away from a computer science degree with only >5k in debt.
I got an associates business degree from community, then transferred to juco and got an official degree for literally not even one years worth of money at university.
The people who say they'd have invested in real estate forget with rentals comes tenants as well as property management. They don't sail on without problems like tenants damages or not paying rent and learning as well as managing the court processes.
He was acting like it would’ve been 100 percent passive income, with no effort, risk, nor inconvenience…
That guy may have been the least bright (and certainly the least grateful) of the bunch. His situation was entirely hypothetical and very likely would’ve ended badly…not to mention the STRESS and effort that is involved in being a landlord, clearly he’s never done it…🙄🙄🙄
$21K for community college is crazy! I had $24K for my bachelors degree and that’s because I took too long to finish it. It would’ve been $18-20K had I finished on time.
11:33 totally agree on that college portion and why I'm in so much debt. Make sure you actually want to go to college and not just go because you feel like it's an obligation
my money makes me happy, my possessions do not
My possessions make me happy. I have expensive hobbies. Lol 😆
Interesting because my possessions make me more happy than seeing numbers on a bank statement.
That's sounds like me. I love my money, but possession is a ball and chain. I set myself up so that I can jump on my bike and just go on the drop of a dime.
Money is also a possession
Money in itself is just paper, in reality it equates to security.
If your possessions don’t make you happy, you are spending your money on the wrong crap. You should t spend money on things that don’t make you happy. Otherwise, it’s just stuff or better yet, it’s money in an abstract form and you should sell it to get more money/security.
Me and my ex wife got married at the court house, had a family member take pictures of us in a beautiful park, we had dinner at Texas Roadhouse and a cake from Kroger. We were happy in marriage for 10 yrs and are still best friends to this day. We would laugh at others who spent thousands on their wedding
The best financial decision I have ever made was not going to college
I have wasted a decent amount of money but not as bad as others and most of the money I spend is on food. I generally try to be frugal. Keep in mind everything is trying to rob you, including yourself.
That last part is really true, people really don’t understand that this country unfortunately is a business, therefore it’ll try its hardest to lock us into debt, college, roadways, etc. forcing people to spend money like dogs. It’s so easy to resist but everyone seems to fail.
Count on hiring a lawyer when doing a prenup, because 98% of prenups are thrown out of court without the proper notaries.
I'm not great with math, but i do understand basic financial stuff. I'm frugal, do the shopping, and generally I only buy things we actually need and use. My husband thought I was nuts one day because I called him and asked if I could buy something completely frivolous. He said "Sure, no problem." It was a 3 inch soapstone squirrel that cost around $10. I love squirrels!
I made a big mistake buying solar panels. It was supposed to be 5 panels on front part of house for 18,000. They did front & back it cost me 30,000. What a scam .. over all my electric bill is 45-50.00
4:00 "fair share" is such a frivolous phrase here lol
Disagree with the real estate one as well, the dude got a 100% match probably and then 4x'ed his money in the stock market and he's talking about 2x'ing in real estate not even including the missed match of probably $200k, ridiculous. Yes, you would have income with the real estate buy now your $1.2 million makes $50k a year and you don't have to go unclog any toilet and evict people.
Funny how real estate “gurus” and “influencers” tend to just leave that part out
He's trying to sell something. Probably a real estate course. Could smell the scam off him
5 year old honda clarity plug in hybrid. less than 15K miles. Still going for around 20K. Yup, honda's retain ALOT of value.
Nice I got a 2002 Ford ranger I bought for 500 and put about 500 into it mainly new windshield. Going on year 4
3:24 I’ve won a tv sweepstakes. They wrote a check for the prize money PLUS more for taxes. So I was able to keep the full amount of the prize money
9:54 That kid has an absolutely killer mullet.
My financial bad decision was dating a single mother in my early 20s! Zero ROI definitely took an L! Never ever again!
Never play another man’s saved game.
The car one isn’t bad. He bought a fairy modest new car that he could actually afford (paid it off in two years).
FYI: You negotiate the price of a car first (new or used) and THEN you talk about financing & monthly payments! And always get an aftermarket car warranty on a used car......And always do a two-year AA degree at a COMMUNITY COLLEGE, to see "if" you like "it" before committing "the big bucks" investment on a four-year college!
Agree with you except on the warranty part. Warranties are usually a bad deal for buyers. Instead, take that money and put it away for growth. Make your own warranty
Or buy a fucking car in cash.
kinda glad i grew up in the internet age because as a result im VERY cautious with my money to a point where its probably neuroticism. I had a tiny student load (3750) and hated every second of it, thankfully paid it off inside of like 3 months when I got a job out of college. now im debt free.
The divorce rate is 50/50. Not to mention the 10% staying for kids and another 10% for those staying to keep their assets. Guys, get a prenup or don't get married. Divorce lawyers who make their living off this admit you shouldn't get married if you're a man.
I guess I’m fortunate because I don’t know of very many people who divorced. It’s very rare in Conservative people
In 1990, I bought a 7 year old car for $4k saving 5 hours of riding the bus to work. Immediately, the company transferred me from work 6.5 hours a day on third shift, to 8 hours on second. Next moved next to the beach to save even more on commute time. Learned how to surf ! I still got the car. I love that car ! !
If you bought real estate in 2016 and rented it out, I hope you had it paid off by 2020 when people stopped paying rent for 3 years.
The look of absolute despair and empathy in his face as he listens was very moving. Many people would default to just making fun of these people or otherwise running them down for their
mistakes. So many finance channels act as kind of "laugh at these poors/idiots" outlet.
Thank you for being kind, thoughtful, and forward looking.
Cars are tools, not assets, you buy them to use them. So buy the cheapest working car possible.
im glad education is free here. I can’t imagine being pushed to continue a degree i ultimately end up not liking, just because i could not afford dropping out and restarting. I’m glad i’m free to make this decision
Zero college education here. No technical school. High school diploma and a willingness and drive to learn my technical trade that I love to do. I get up every day for 30 years, clap my hands together, and skip to work every single day. I have zero regrets and zero school debt, and I would still do this job even if it paid less. Fortunately, I don't have to take less. College isn't for everyone. I would like to know if my doctor and lawyer went to college, but the manager at Hooter's, I don't care.
5:10, last I checked it was 50/50 for heterosexuality couples. The divorce rate is higher if the woman earns more than the man. And it’s even higher than that when the woman also has a college education.
Two of my close friends each spend around $50k for their weddings last year. Neither were overly fancy and a lot of money was wasted on things guests didn't even bother with. I plan to get married at an AI in Mexico --- way cheaper and it's a vacation for everyone!
My friend pays $1000 a month on his two cars (not including insurance), has multiple maxed out credit cards, and has a young son with a girl he thinks about leaving half the time. She got pregnant only a few months into their now 6 year relationship.
Bruh..
I bought a 2021 Sportage last July, 33,000 miles and I was so stupid that I got the warranty. I don’t drive a lot. I think I put 600 miles on it since. But last month I canceled the warranty and got most of my money back, let’s say the finance company got it back. By the end of the year, I’m gonna pay the car off. All I have is a house and a car payment. That was stupid, but usually, especially since my husband died a couple months before Covid hit, I am pretty smart about money. I hiccuped you might say. But I put two2-2.5k in savings every month. Things are going to get much worse with the economy I want to be ready for it. When my escrow payment went up $350 a month even though I can handle it, i was feeling grateful that I can, then I started feeling resentful because just because I can deal with it doesn’t mean I should have to. Like everybody, we shouldn’t have to go through this government made catastrophe. Yes I’m grateful to the Lord, Nonetheless. I wouldn’t even know what is on TikTok if it wasn’t for some TH-cam channels. No interest.
Youre absolutely right...this is a government made catastrophe. Government is the source of every major problem this country has. until the people are ready to make some hard decisions and sacrifices to take the country back it will only get worse.
I understand the guy that talked about the 401K contribution. When I was in my early twenties I was already trying to save up money to buy a home and all I could afford was a condo but I still had a mortgage before I even graduated college. It took me a very long time to get my degree and I graduated as a nurse at the age of 32 but now I have a home that's halfway paid off, a lot of equity, and a very low mortgage payment. I also invested in buying land that is now worth a quarter million dollars. Now at the age of 34 I barely started contributing to my 401k but it's mainly because I have a match. And I'm very happy that I did it that way and not the traditional way
If I had gotten engaged 5 years ago, I’d be all for the “save the money on a wedding for a house” but in my area, that money will barely get me closing costs.
Honest question, would you consider moving? I washed to buy a house in my home state but it's too expensive so for me when I'm ready to purchase I'll have to purchase somewhere else.
Some might say a wedding isn’t “worth it”. But we did have a bigger wedding and spent extra money on a videographer. I now have captured memories of all our close relatives and friends in one room to cherish. Some have now even passed on. It’s something that was completely worth the price tag to us.
My wife and i spent $5k on the engagement party wedding, and reception party. I gave my wife free reign to choose what engagement ring and wedding ring she wanted. She chose a $50 engagement ring and a $200 wedding ring. I think i chose the right woman 😂
When I came to the US I was 32 and everyone told me to do a Masters in Accounting so I could become a CPA. I did it and I am $33,000. I do make $108,000 gross which is around $79,200. I still think it's insane they require a Master to become a CPA. The college classes are not even high quality. I am throwing away money. I hate that I fell for that.
American is a society obsessed of getting money out of you, if it cant, they want you in debt.
The wedding industry didn't make you do or think anything. You made that decision, you decided to spend that much money, you felt you had to do that to impress others. The wedding industry simply thrives on people like you who are already like that, they didn't turn you into that. Our wedding was beautiful in a golf course and it only cost us about 7k including the rings.
Watch the focus end up on the dealer lot for 14999
I can relate to the lady in the middle about college. I didn't realize that college was only an option. I thought it was required and there was no other option. I had the student loans too, but I wanted to prove that I could be successful without a degree so i dropped out.
How were you so detached from reality that you thought college was "required"? Fr fr how did you ignore all of objective reality?
@@pearlsswine I see that my comment upsets you so much that you feel the need to attack me personally. Hopefully you feel better about yourself now.
I went to UCLA because that's what students were doing after high school. I knew back then, college was a scam, unless you were planning to become a doctor, lawyer, nurse that really required knowledge in that field. Anything else can be learnt on the job.. I took a job unrelated to my education that didn't require a degree, except for a H.S. diploma and I love it. People need to find a field related to their passion. I understand some people are lost in life and would prefer a 9-5 job - that I can understand and relate to. I am so happy that back in college I learned about finance. I also learned it from my parents so I never had debt.
That first guy in the car didn’t make a bad decision. The car still runs and is fine. He can drive it for another 4+ years easily….having a car that cost you $2,600 a year or LESS! You are using it. It’s not a stock or collectors item. $2,600 or LESS for a car to drive around in per year is not a “bad” financial decision. And was a tool used to go to work and make a lot more money!
I just did a calculation of what my E39 5-series "on paper" costs me a month according to a well known motor organization in my country. $130. Yes it drinks a lot of gas that's pretty expensive in Europe, and it does need maintenance. All this is added in that calculation. Luckily insurance is way, way cheaper in my country than in the US.
Feels good since this is my favorite car I've owned so far.
@10:14 I subscribed - - - it shouldn't be rare to hear someone say you need to be a responsible adult, your child needs food, you need to pay the bills - yet, it is .....
Here in the UK, when you buy a car, you immediately lose 20% VAT plus car tax, which van run into huge amounts if it is a luxury car. The car depreciates massively too.
Cars a rarely an asset. There's a very small chance it can become one decades later based on public perception. It's a tool wears out, that's it.
lotto winnings and prizes are tax exempt in Canada. one of the few things that is taxed less than the US
Going to need to win the lotto to live comfortably in that cesspool of a country
Yes@@eightlights4939
@@eightlights4939he's right though. I've noticed Americans love paying tax and get very little back. No tax free allowances, getting foriegn income abroad is taxed unless they renounce their citizenship, even employees have to their own taxes, it's not automated, also love hiding sales tax until it's totalled up.
@@rwentfordable If people would stop voting for Democrats we'd be paying a lot less in taxes. We're on track to be as bad as Canada, will see how this election goes
As someone currently in a contract to buy my first house, there's also a lot of leg work and cash you have to put in on the front end that people who haven't bought real estate don't think about. Right off the bat you're going to have to spend $1200-2000 ish for option and inspection fees just to figure out what shape the house is in and if it's worth buying. That's money you will never see again regardless of if you buy the house or not. I've also probably spent 30-40 hours of my own time in the past couple months to get to this point. Then if we do close it'll cost around another $8K in closing costs, not down payment and not mortgage. So we'll be out $10K in cash before we even start putting equity into the property itself. So that's a big factor to consider with why real estate might not be the panacea financial solution that a lot of people might think it is
Damn 22k from a community college??? What kinda community college did you go to. I went to one from 2013-2016 and it was like 500-600 a semester
Maybe she also paid rent.. with loans.
Shesh, community College has DEFINITELY gone up since then. The cheapest one around me is 1k per semester.
Some of these people should never be allowed anywhere near anything that has to do with finances. It's honestly scary how ignorant some people are, but i guess that applies to just about anything else in life.
The business coach who told her to get therapy and it cost her $7,000…she should’ve hired me. I could tell you to get therapy for a lot less lol 😂. Like I’m so kind, I would do it for $700.
Our wedding was $300. It was May 2020, so we couldn’t take a honeymoon, either. Lol. Happily married four years later with two babies, moving into our first home in a week (it’s expensive here in Ontario to buy a house). Best decision ever!
4:49 wtf is wedding season
It's the span of time in which the government sells licenses to hunt wedding parties.
@cupcakeordeath do i need a tag for each member of the wedding or just one for the whole party?
@@nathanpike9509 It varies by state. Be sure to check your local fish&wildlife dept!
It's not a thing in the UK either.
Unfortunately, I know of someone who paid $125,000 on a wedding and got divorced six months later.
I spent like 3000 on video games this year so far, but I have tons of money saved so I’m fine. Sometimes you can out earn your bad decisions.
Cheers to that house money. I’m down to 30k from AMC and SPRT trades from ‘22
Jesus Christ, imagine what you could have accomplished if you put that time and energy into something productive?
Some people are born to fail.
@@pearlsswine yeah there’s that, but I have more money than most people in the United States my age (mid 30’s) except millionaires. $3000 isn’t much out of that money. I could have donated it to charity or something I guess, but I already donate a few hundred to charities for various causes.
@@pearlsswinesee that’s the problem, we mostly have no time to play with our toys
£3000? I think I’ve bought one game this year 🤣