Pursue Slow Wealth
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- เผยแพร่เมื่อ 15 มิ.ย. 2024
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Timecodes:
0:00 - Intro
0:29 - Make Less Dumb Money Mistakes
2:15 - Less Tempted
3:58 - Mistakes Disappear With Time
4:42 - Master The Fundamentals
5:50 - Develop Patience
7:17 - FREE 1-Page PDF
7:37 - Compounding Magic
8:57 - Build Strong Financial Foundation
9:57 - Better For Mental Health
11:02 - Slow Wealth = Slow Life
11:44 - Life Is More Enjoyable
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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.
I wish they taught investing at school level. There is so much advantage to doing this! My biggest regret is that I started so late.
I agree!
They don’t teach in schools because if people started to learn the power of investing early. They could probably retire in their 50s. That would be bad for employers. The system is designed to keep society working into old age.
Same here. I’ve always been interested but the general opinion back in the day, it was for the rich only! How silly was I, not to try and do it when I was younger.
Well, I believe it’s never too late for anyone. I jumped into the market only three years ago, but with a lot of financial strength and strategic investment, I did hit that coveted 100K and recently the ~$1M mark!
Cool story bro. You got lucky. For everyone like you, there are others that did the opposite
It took me 35 years to hit 1M in my stock portfolio with an average income of 55k. I started with basically nothing and lived below my means.
Congrats 🍾🎉, that takes a lot of discipline.
You should make a vdo 🙏
@@Chan_Chal_Chit_1 lol
@@cashflow68 I ain't joking . You pls make a vdo and share with us your journey of becoming a millionaire .
@@Chan_Chal_Chit_1 all it takes is spend less than you make. I chose to buy stocks in strong companies like Costco, Visa & Mastercard to name a few. Just keep investing and be patient. Stocks will always go up & down in the short term but will do well in the long run. Like 10 years. I bought Costco stock at $138 in 2014 and Visa at $29.
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet the economy is getting worse. How can I generate more income to retire with at least $1m for long term care? I have about 80k in savings..
We share common goal, making sure you are ready for your later years is very important. I'd suggest you consider financial advisory.
@@kansasmile You're right, I and a few Neighbors in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew by close to 30% in the last quarter.
@sommersalt88 Truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a financial advisors... mind sharing info of this professional guiding you please?
I've experimented with a few over the past years, but I've stuck with the popularly ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for the lead, curiously searched Jennifer by her full name and at once spotted her consulting page, she seems highly professional having over 12 years of experience. amazing!
Get rich slow. It grows your character. Getting rich quick only grows your ego.
:O 😮
I like this
Building wealth is a lot like losing weight... slow, steady and consistent effort. Eat fewer calories than you burn and spend less money than you earn...over time you are skinny and wealthy!
It is actually every good thing in life. It takes time. May it be your maturity, career, wealth or health
So true.. i was thinking about this analogy as well
Yes! I'm celebrating £32K stock portfolio today... Started this journey with £3K....
I've invested no time and also with the right terms, now I have time for my family and life ahead of me.
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bill and take care of my family.
Yes she works with people all over the world and he's the best you can ever come across the world
Sophia my life savior
It's a Miracle and I will testify of 170K
bucks every month end. I now have a new Car and can now pay my bills and also support God's work in the church.
So you guys still know her
I’ve been going the slow route and passed a quarter million net worth recently but I struggle because some of my closest friends took more risks and are already multi millionaires and retired. It’s tough navigating between the two types of wealth building strategies.
I started investing in stocks at 18, grew portfolio to $600k by 33. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want portfolio to grow. What should I do?
Dont think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor to ensure appropriate investment planning.
True. I’ve been investing in the stock market for 11 years now, last 5 years with the help of a financial advisor. Through this period of advisory support alone, I've been fortunate enough to achieve a 10x return compared to my previous efforts as a DIY investor, summing up nearly $1m roi as of today. My best so far.
I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well.
'Kristin Amber Landis' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
My dumb money mistake was selling my condo that I had rented out for $2k/month which was enough to cover expenses back then (2008). Today that condo can rent for 4k and the mortgage would've been paid off and its value doubled to a million. Wish someone had talked me out of it. I think about it every time I drive by that area. Time has not healed that wound yet. LOL.
My husband is on board with slow and steady since he beginning . It’s a good way to wealth.
Great emphasis on the value of pursuing slow wealth! It's a powerful reminder that wealth building is a marathon, not a sprint, and patience combined with smart decisions leads to sustainable financial health. 👍
yep, my wife and I LOVE THE SLOW AND STEADY WEALTH! we are much happier now than when we tried to make fast cash fast!!!
I had the same attitude dating in my 20s as your wife. I figured that at our age, a 20-something driving too nice of a car was either not managing their money well or got spoiled with gifts from a wealthy family. Both were the kind of person I wanted to avoid 😅 Luckily I did and my current partner (in our 30s) is successful and down-to-earth, and now we upgrade our vehicles when we truly can afford it, and after investments are adequately funded.
Love your content. Lifesaving insights.
At age 47 my seven figure 401k is 33% from my own money and 66% is from employer contribution and compound interest.
I'll report back when my contribution portion is only 17% of my account value at age 57....then 8% of my account value at age 67.
Time is magical and still hard to believe!
Awesome. I hope I'm on track to do the same, maybe a little behind. At 40, $250k invested increasing my contribution, will be putting $37k/yr including the employer match. Should hit 1 million by 50, hopefully.
Slow and steady wins the race. Younger ppl at work who want advice are disappointed when I don’t tell them the next Microsoft
Amazing hair to the rescue. 😊 the true star of this channel. Love the channel, Tae. Thank you for the solid advice! 🙏
Love this advice. Great hair 👌 😊
Very wise. Slow, steady & Smart.
Such a wise lesson. Thank you.
Excellent video, sage advice.
Very wise approach to money/life. Thanks for another fantastic video
I try explaining to coworkers this kind of stuff and they all just roll their eyes and go back to eating their fastfood lunches and talking about stupid shit they bought over the weekend. They are determined to be poor forever.
Thanks Buddy. This has a lot of wisdom. I share all the sentiments.
Thanks for this information ❤
Exactly the words I needed to hear! ❤
Tae, I want to invest in whatever company manufacturers your hair care products. You have my vote for the best hair on youtube.
Now THAT is buying valuable assets!
Great video Tae! I currently work in FP&A. One day hope to achieve FI like you.
Love it!
I totally agree , I like your philosophy
Truly a tortoise and the ‘hair’ approach
LOL, I see what you did there...
The turtle and hare had 4 races in total tho. Which race are you referring to?
Great content 👌 👏 👍
Excellent video. Too often we feel pressure to have it all right now and get rich quick.
Very informative
True wealth is great hair.
Yes, I can relate to that 😢
love the video, there is a mistake in the slide in the compounding magic section
Get rich and stay rich, slow or fast.
There is not fast route just like losing weight it should be your new normal (the mindset)
Error at 8:44 - both say "no compounding." Otherwise, really great video! Excellent points, and it's refreshing to hear someone share their own realistic experiences with building wealth
Glad I wasn't the only one who noticed, I thought I was going crazy. Great video though! Love Tae's insightful videos.
Hahaha came here to say this. Thanks for posting.
Was just watching your slow is smooth smooth is fast last night
Going for the Silvio Dante hair do
Hey Tae, what’s that one website you mentioned that helps with obtaining skills? It was a promo
Warren Buffett, who made 97 percent of his money the last few years due to the power of compunding, says the number one rule to investing is Don't Lose Money. That pretty much screams don't take outsized risks. Buffett is the best, most obvious, and most successful example of slow wealth. If you had been investing for 80 years without doing stupid stuff like Warren, you'd be damn well off by now too. Start yesterday, index, and keep piling it in...
Can you write a book called slow and steady path to wealth?
What are your thoughts on VT / VTWAX as a single fund portfolio.
Great video! Keep sharing this message- it’s a vital one we all need to be reminded of. THANKS!
8:45 - text error, "no compounding" repeated twice in the powerpoint.
🔥🔥🔥
Today i have 21 k rs portfolio and i am 18 started investing from August last year
Hey Tae , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
I stand by this approach but if you see rare opportunities in the market in certain investments you need to take it. I’m up 500% in 2 of my investments in the past 4 months. If you leave emotion out of investing you can make great money.
8:17 inflation ? More like 6% avg over the long run after inflation. This is almost Dave Ramsey reality distortion.
I invest AVGE
I'm 40, living in a third world country and only now on a path to becoming financial literate. Worst of all, I already have thinning white hair. I feel like I've already lost the game and I have no time left to pursue slow wealth. What hope is there left for someone in my situation?
40 is NOT old, you have lots of time to get it together. Right now, nearly HALF of those between 55-65 in the USA have ZERO saved for retirement. You have a 15-20 year head start on them, maybe more if you at least have something already.
The guy who created KFC was 65 years old!
What I’ve learned…have amazing hair.
❤
Tae do you age???
😂 she was no match for the TK hair!!
High return means high risk, and the odds are almost always against the return. Unfortunately, winners usually speak the loudest, so many people are compelled by success stories.
I disagree. I believe high education equals low risk.
Works only for young people. I don't have the time for it 🤷♂️
Actually, imo, this method is the ONLY guaranteed one, regardless of whether you have time or not. Taking outsized risks cause you're in a hurry is no guarantee you're going to move forward, more likely backwards... so having not enough time means you're looking at severely cutting costs and ploughing all your energy into sure ways to increase your income, NOT take risks that will actually just waste more time. Cause you don't have that luxury...
I hope you come to understand Bitcoin someday. I'm not advocating for 100% allocation, but some allocation. Bitcoin is a slow and steady path to wealth. Proof of work.
Most critics don't understand it and will, oftentimes, just repeat what their politicians and fiat minded financial advisors say.
Most professionally managed pension funds for BIG organizations have some bitcoin investment in them, usually a very small percentage (like less than 1%). But it's there, to prop up their return, they hope...
Sorry Kim but I put all my eggs into the resurgence of GameStop
To be fair, you do have pretty amazing hair 💈
I vote for 22 year old hairstyle being 2024 style.
Everyone in their 20's watching this video: "So how do I start day trading Bitcoin?"
The volume is low . Please speak louder ... U r barely audible 🙏
so the key is to succeed is to have good hair 😏
Volvo gets the ladies?
I tell young people the fastest way to get rich is to live at poverty level for 10 years and invest every single dime. Just make sure you have a good emergency fund. They just stare at me like I’m nuts.
Less incentive to be unethical
Stop giving a sh*t about what other people think.
I am living to learn this. No one pays the bills. We have nothing to prove to anyone
tl;dr great hair > great car
Instructions unclear… I’ll I learned is that having great hair leads to wealth and ladies….
FR
Instructions were pretty clear to a lot of us 🤷
@@02nupe that whooshing sound you hear is the joke going over your head….
But my wealth got faster with Bitcoin
Dude really said that anyone who's claimed they made big money in the markets in a short period is either lucky ir lying? Talk about ignorance. I spent my first 15 years or so of retirement as a successful day trader. This guy just says it's impossible because he can't do it.
Cool story bro. You got lucky. For everyone like you, there are 10 others that did just the opposite.