STOP BUYING THESE INVESTMENTS?! | 8 Things We DON'T Invest in for Financial Independence
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- เผยแพร่เมื่อ 7 ก.ย. 2024
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Our Rich Journey - STOP BUYING THESE INVESTMENTS?! | 8 Things We DON'T Invest in for Financial Independence: On our channel, we're always sharing the ways that we invested to reach financial independence. But, we also thinks it's useful to know the things we didn't invest in on our road to financial independence - because what you don't invest in can be just as important as what you invest in. In this video, we share eight different investments that we didn't (and don't) invest in and we explain why we don't invest in them. We're hoping it will give you some food for thought as you create your own unique investment plan for financial independence.
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You guys are so likeable...there's something so peaceful about your demeanor and speech...unbothered in that good, contented way. Blessings to your family!
I agree!!
Indeed they are!
I know she has such a friendly face - I like people like that
Finally found some skills to keep me busy during this pandemic lockdown quarantine.
Tired of doing nothing
@@johnallen1210 Well said 👏
I collect comics ...since I was 12 years old and I have just sold xmen #1 in good condition for $37,000.oo Canadian not bad for a ten cent investment 👌.
You are lucky and finding a buyer
Guys, you two must be so proud of your daughters. I just finished watching their first video on their channel. They are both so articulate, funny and mega interesting to watch. Great to see two kids so knowledgeable about money. God bless your family.
100% honest and real. You guys rock.
I’m just starting to invert, today was my first day, started with about 1k in VTI, I don’t have much that’s why I can’t add more, but I will try bit by bit, just thinking today if I would’ve invested what I wasted on video games, but sadly I didn’t know how to do it.... now I do I’m planning on continuing this journey with you guys!!! :)
Your best long term investment...educating your daughters on financial responsibility. Unlimited rate of return. Well Done. BTW...just subscribed to a new finance TH-cam channel. These two young ladies are going to give ORJ a run for the "money." Very cool. Sharing it with my nieces/nephews.
OMG!!! Will you please make a whole video about "Life Insurance" more.. All about it , why WE SHOULD get one or why WE SHOULD NOT get one. I'm now confused. Because I just newly got a life insurance, i paid 1 month, and now hearing you not investing in it is like 😩
Please enlighten us more of what you think ABOUT LIFE INSURANCE.
Many share about what they do invest in, not everyone shares about what they don't invest in. Thanks for sharing.
Great video! I definitely social distance from any insurance salespeople and financial planners 🤣
Yea 50 feet of distance
Man I love y’all! Thank y’all for putting my wife and I on to our journey 🙏🏾👍🏽⚜️🖤
So glad you're on the journey Derrick!!! 💯
@Our Rich Journey
I just bought VTSAX. There's an option to choose to reinvest the index fund. Did you guys choose that option?
What I love most about you two and this channel is that you never bash anyone if they don't believe in what you are saying or your investment strategies. You alway emphasize that THIS works best for YOUR family and why, BUT it may not work for another family and that's okay. And why it's important for others to do their own research and see what works BEST for THEM and their financial goal. You guys are awesome!
I am going to forward this to my teenagers!
That's fantastic - thank you!!!
Please do. Also warn them about the historical data of cryptocurrency and options as it is hot topics in youth investors. These are extremely risky instruments that should not be used without practice.
I always click like even before I watch the video, cause I know I’m going to like it!👏👏
Hey I'm a big fan of your channel and your overall philosophy on life. I would love to have you on as guests on my new show! Please reach out if you're interested!
I'd love to see that happening! Fan of both channels
Yes please!!! I'd love to see that 🤩🤩🤩
I love this video. You are reminding people that it is about staying diligent and focusing on the end game, not getting lucky with some random nuggets.
You summed it up perfectly! Thank you!!!
You guys, regardless of your investment approach, are the epitome of the type of individuals that should be held as the gold standard for minority and disenfranchised communities. You are an embodiment of rationality and sanity in a sea of irresponsibility. Things change for the better when individuals of high intelligence are able to gather increasing amounts of followers, who in turn gather more individuals.
_"Things change for the better when individuals of high intelligence are able to gather increasing amounts of follower, who in turn gather more individuals."_
"nuff said right there as high IQ individuals TRANSCEND melanin count upon proper analysis, 24/7.
What???
mena88 They are NOT MINORITIES
This is more racist garbage... not a compliment
You both have that "it" factor which makes you guys so easy to watch and listen to. There is not one video from you (and your two amazing kids) that I didn't watch from start to finish. Thank you for being of service to us your fellow humans.
My favorite part about watching this is doing a self assessment while watching.. 8/8!!!!
100%!!!! You are awesome!
I love your videos but I do not agree with your views about crypto currencies , but I respect your views !! Thanks for the great content.
I was Born in Lisbon and i love portugal !!!
Hi Luis! So glad you like our videos (even though you don't agree with our crypto views!). :) We respect that you invest in crypto - everyone has their own investment plan. :) Thanks for watching!!!
I think a good rule of thumb is to only invest what you understand. I invest in many Cryptocurrencies (mainly the top Cryptos) and I have been very successful. However, I do respect your assessment. Love your videos....keep up the good work!
I love your channel. You guys are so smart. I totally agree with you don't buy whole life and annuity. Can you do an episode on if it is worthwhile to convert IRA or 401k to Roth by paying tax now while retirees are still not collecting the social security benefits?
Oh my goodness!!! This video is right on time! I have been researching whole life insurance because of the so-called cash value and hyped up velocity banking. It was tempting even with higher premiums but now that you have explained it the way you did I see why I shouldn’t. love you guys!! Thank you so much!
Aweeee your children are going to help so many other kids! Your family is amazing!
Awww, thank you so much!!
One person from my family collected comic books and original paintings of comic pages bought at auctions... yes you're right he also paid fees for a bank safe to hold them precious pages secure. He took loans to buy when something special would come up at the bids. Then one day he needed to take a mortgage and had to sell a lot at loss to pay off that previous loan... in his 50s...
Your advice is priceless and can change lives!
O wow I was literally about to invest in an options course. I might have to buy your stock course instead. thank you!
I would suggest doing both. Options are not bad if you use them correctly.
@@AJonyt007 & @J.Mc thank you both!
I just watched the channel of your two daughters, Wow, they take after you Amon and Christina very engaging and clear. Good luck with the channel, I subscribed and gave it a thumbs up!!
You guys are simply the BEST TH-camrs when it comes to money tips. Thank you for being so straightforward and honest. I just subscribed to your channel : )
Cryptocurrencies get their backing from their communities. These communities consist of the miners who run servers to maintain the network, software developers, and holders of the currencies that determine the direction of the project through voting or other means. Although they may not have traditional legal structures such as a company or govt, they get their backing the same way; through the people that support it.
I would add that bitcoin is backed by its properties.
Very wise words guys! As usual 😊
Great to see the girls’ new channel! Spread the news to the next generation
Yes! Thank you Sarah!!!
I am a mix of blue-chip equities like Apple, Microsoft, Disney, AT&T, Coca Cola and ETF's like VOO, VDE, VGK, VPL
I do collectibles but i also never consider them as investments.
There is a generally safe conservative way to trade options where you’re mostly just keeping the premiums paid to you. I have only made money selling puts and if I ever have to buy 100 shares, it’s always a stock I want anyways. I don’t sell puts if I don’t want the stock.
After going through the vid, I must say I think the ones i saw are all great Options to avoid pun intended 😅
Black Vito - Moneyology LOL
This is exactly how I feel about the investments you mentioned especially whole life and VUL. Now I have more ammunition when Im debating my family abt these investments.
Love your channel! Could you make a video about how you decide to take money out of your accounts? Which accounts/funds do you withdraw from? Thanks!
Thank You for this information! Take Care
Another great video! I completely agree with your conclusions and you articulated the underlying rational so well. I’d love to see you comment on diversification outside the US stock market?
On the crypto topic:
1.) Neither is the US dollar
2.) If you think this is a major issue with regard to Bitcoin/Ethereum, then you don't understand the underlying technology. Its literally designed to prevent chain manipulation. You will always be able to "hack" endpoints (wallets/exchanges) as they aren't on a blockchain. This is also no different than today's systems, your money in your bank account can still be hacked. The actual blockchain, when done correctly, like Bitcoin/Ethereum, is damn near impossible to "hack".
3.) This is true, but this is true of stocks, have you seen Tesla?
or just take ur crypto off of exchanges and hold it physically. I agree with you, it is a necessary hedge for anyone looking to retire early. At least get 1 btc. I really think our kids will be happy we did.
Love your channel, and has been forwarding it to everyone I know.
Regarding an option, I use it to generate income. I don't buy puts or calls-I just sell them. And I sell options against stocks that I already own, or stocks I want to buy. However, no naked option, also known as an "uncovered" option.
Fantastic video again. You changed my life since I started following you. Keep up the good work.
Me: 🥶 Watching the video hoping I hadn’t invested in any of your topics. Thank goodness I had not! 👏🏾Thanks for the check-up!!!
Have you ever talk on how to reach financial independence with kids? How you fund their education while pursuing FI?
What do you think about variable life insurance policy that includes disability and critical illness?
1. Great job on the production value
2. It's really fun to watch the person who is not speaking
3. As much as I love this channel I must say you're off target on whole life insurance. BTW I am NOT an insurance salesman. But I do understand insurance. I totally believe in not investing in that which you do not understand. But that doesn't mean that you should not try to at least understand something or that because you do not understand it there isn't value in it. Whole life insurance *can* be a great financial tool. Particularly for passing down wealth to the next generation. But there's also many other benefits to it. It is a complicated topic. There is a lot of nuance or "if this, then that" to it. But if you're in the age/group that could benefit from it, then you should look into it.
I think the consensus about whole life insurance in the F.I.R.E community truly needs to be re-examined. There's more to life than index funds. There's tax considerations and other things that a generation that has grown up with a 12 year bull market needs to start thinking about.
Your advice is really great, vast, balanced, concise. One of the best and much better than much of what you can buy for money (books etc). I'm so grateful for that. And you are so practical and clear and without moralizing or ideology. Have you ever thought in putting this all into a book or other media for sale?
Beautiful family and I am excited that your girls started their own channel. I have a 5 year old and we are definitely starting to teach her financial empowerment
Regarding your stance on options: the circumstances you have outlined are only relevant if you are buying options to speculate on a direction and this is where most people lose a lot of money (though some people win big money, because probability is funny that way).
Smart use of options include but are not limited to:
- Selling volatility (or lack thereof with the right spread)
- Selling puts as a cost-effective way to enter a position on a security
- Selling covered calls to generate synthetic dividends
Long and short of it is options aren't lottery tickets, though some people treat them as such.
I will never understand why whole life insurance is so controversial. I have recently found you guys and I love what you have have done and thank you for sharing your journey. Enjoy life in Portugal! And enjoy the mild weather!!
Curious as to why you have term life insurance when you have a fully-funded lifestyle?
Even wealthy people have life insurance policies. It’s a fairly inexpensive way of guaranteeing your family is well taken care of above and beyond your current investments. I believe their portfolio is only a few million. A life insurance policy can easily be 1 million for fairly cheap as a younger adult. My husband and I each have a policy and we’re 32 and 43. Our policies combined are $100 a month and our children and their care takers will receive over a million dollars if we die. How can you beat that return on your money? Haha I’m my opinion, it’s still very much worth it. Especially if you’re looking at it from the perspective of you can add a third of your wealth to your children’s wealth if you die.
Rebecca Readus mind sharing which insurance you’re with.
Should you have term insurance if you don’t have children? You can use the premium to invest in stock, something that can benefit you and your spouse before you die. I have term life insurance for years- now questioning if it was the best choice for me.
I'm so glad I've stumbled upon your videos in my feed! I'm in my mid 30s and almost mostly debt free (darn student loans). I'm beginning to learn about financial literacy and am curious to know if now is a good time to invest at all. With the uncertainty of the economy due to Covid-19 and the looming recession, I'm afraid I'll lose everything even with the Index Funds. Am I being overly cautious?
Yes stay put and chill! Don’t panic!
Man! You guys are completely on point!! You would make millions with your own syndicated show discussion all these topics. I really appreciate what you put out.
Alfonzo - you are too kind - thank you so much!
Just watched your children’s 1st video and I’m impressed. Will definitely share their page with my children. My husband and I are always encouraging our children to have an entrepreneurial mindset. Maybe this can spur them on. Congratulations to your family on all of the success and wishing continued success. Love both of the channels and learning so much. Thanks for sharing.
You two are such an inspiration! Not just any Power Couple!!❤🙏🏽❤🙏🏽
Glad you made a new channel for the kids, they will be the pioneers in educating our young generation. thank you
I’m so thankful for you both and all of your content. Thank you for sharing! You’re amazing and I wish you even more success in your future. Please don’t stop what you’re doing.
There are options out there with ZERO or minimal fees annuities out there as well and are in an index fund. 😁 Just like anything there are many options but people don't know until they know.
I appreciate that you broke down the things you don't invest in and why. Much respect. 🙌 Thank you for sharing.
*I inherited an annuity from my mother in 2014; I am required to take a minimum distribution annually(with the exception of 2020). I take the RMD payment and deposit into my bank account, then invest the money into my IRA.*
Thanks for sharing that Wendell!!! :)
I assume you have earned income (reported on W-2). Only earned income can be deposited in an IRA.
This is some of THE BEST advice I've ever heard. You give the reasons why an investment is risky. I think I can learn all I need to know from y'all. Thank you so much for all this wonderful financial information. New sub! Penny stocks? Ugh.
Helloo!! I have just discovered your channel and I will be following you and the kids from now on. I am a portuguese living in Africa, and hoping to return to Portugal one day. Thank you for sharing your journey, I really think you guys will inspire me and my family to reach financial independence. I wish you a great journey in Portugal!🇵🇹
Agreed. Options and Puts is complex and risky. I stick with simple Buy, Sell shares and Hold.
Off topic suggestion. For your Portugal series can you make a video on the impact COVID-19 has had there? How the government is handling it, what are the restrictions, and personal adjustments you have had to make as a family. Maybe give comparison to US.
Good video, but there is a major flaw in your discussion about collectibles. You forgot about vintage wine. This has been a very reliable and lucrative investment for decades. I regret that I didn't invest even more when I was younger.
BUT yes, you have to have storage space. And you must know your wines.
Thank you for breaking down these investments. 👏🏾 My first stock in Robinhood is a penny stock and I was debating whether to sell it for a stock that is over $25/share or hold on to it.
Can I ask which one because I trade penny stock sometimes. And what are you considering? You are not supposed to hold on to penny stock, you get in and out. Because most of them end up being nothing. Only a few will actually grow.
Hey! What is your general take on going to college? And all the financial implications that it may bring? Generally, would you advise to go to college or not?
Great question David! I think it's really up to each person's situation and what they want to do professionally. For us, we both went to college BUT we were able to get a lot of scholarships so that we don't have any student debt. If someone wants to go to college, my suggestion would be to hustle to get scholarships and other forms of free money. We made a video on paying for college. You can watch it here: 8 Ways to go to COLLEGE for FREE (or pay little) - Our Best Hacks to Graduate Debt Free - th-cam.com/video/-42606DSRYM/w-d-xo.html
I am going to try and watch the paying for college video. My son plans to go to law school and I have told him how Christina went debt free.
Just wanting an opinion on gold. I’m feeling really nervous about the future. Wondering what you think about removing 401K money without the penalty and converting it to gold investments?
I do agree that my collected stamps if converse to stock might give 10 times return. Anyway I have got some habits (eg. Perserverance, details discrimination skill) that valuable for my career too.
So agree with your assessment! Re antiques I did buy some of these years ago since I thought they would be nice to have. But tastes change and I paid for some at the top of the market. So while I enjoy them, they were not an investment. 😊
This is GOLD right here. Thank you so much. Many Many blessings.
Thank you for the advice y'all and my wife think the same 3 vs 1 😆 that means do not invest on whole life insurance.. thank you 😉
Haha Tony! We're going "Team Wife" on whole life! LOL! Too funny!!!
Loving your channel! And keen to follow your girls’ channel as well, so I can start my three year old off on her journey to financial freedom!
That is so awesome Kristy!
I always learn something from your guys videos!
What about index universal life? The returns are a lot better than whole life and also not all annuities have fees and after 10 years the surrender period falls off. IRA and 401k has the fee of the 59 in a half rule plus taxes you will pay upon withdraw which is 40% of your money gone
Have been checking your channel all week to see if another video was up and today you blessed us with one! I get so excited when I see you guys uploaded!
Also watched the girls 1st video and just wanted to say I can't wait to see what they teach us- will be watching with my little cousin (16 yrs of age). They did a smash job already on the 1st video- looking like pros already!
Love your shirt lol. Thanks for great information
Another great video guys. Thank you so much. I’m so glad you addressed some of these issues in a straight up honest approach. I could not agree more with you but so many new investors get caught up in these scams.
Good morning ORJ!! Love you guys! Hope you all are well.
Good morning to you James!!! :)
Thank you for this video! I did ask my husband if we should invest in Bitcoin and he said the same thing as you guys....it’s too risky! Thank you for the right confirmation. 😊
Fantastic content as usual! Now, what time of life insurance do you guys recommend, whole life or term and why? Thanks in advance for your answer! 🙏
How would you diversify outside of the stock market?
I have been following your channel for a while, you truly have done all the leg work and have reasons for everything you do, that is what we all should be doing. Each of us have our own journey to reach financial freedom, we must educate ourselves and not simply be copycats, Thanks again for sharing your thoughts and provide guidance.
Whole life insurance is borderline scam, most people don’t know this but when you die, WL insurance pays out only the insurance part, they keep the cash value, yes you heard me right, and add that to all the hidden fees you guys mentioned, most people end up surrendering it, which is even worse... avoid it at all cost
Hsiao Chiang Tang which is why people should get index universal life cause if you set the death benefit to increasing then the family gets the cash value and death benefit
Congratulations to your girls for starting with a TH-cam channel.
Will love to watch them as well. Thank you for the informative video always 😊
Hi. Thanks for the videos. Can you make an easy to understand video about investing with Vanguard? I am new to investing and I am watching videos to try and understand how it all works. I find your videos easy to follow and well organized. Thanks!!
Your kids! I just watched their first video and subscribed.
I LOVE IT. They're terrific!
It is so important that kids learn about money. Financial ignorance is crippling and so many people learn the hard way.
I'm really looking forward to these videos and as always; MORE ABOUT PORTUGAL, PLEASE!
Great video! What is your view on international stock index funds and how they can/should fit in a portfolio?
I have abit of a financial crush on these guys. Thank you for such great information. Bless you guys.
I'm so glad for the junior channel, just forwarded the link to my 12 year old grandson. Thank you all for the great video's.
I love you guys, but I disagree on the options argument. Happy to explain to anyone how I retired on options trading! There are non-speculative ways to work with options. I know I’m late to this party :), but catching up on your greatest hits vids. There are smart ways to use options that are able to accelerate cash if used right.
Thank you guys so much for sharing. This was indeed a GREAT video. I have tried and/or looked into all of the investments you mentions and it was very refreshing hearing your explanations about why you two do not invest in any of the investments you mentioned. Thank you again!!!!
Options are used to hedge your investments, they're not intended to be investments themselves. They don't realize that if they had been selling options against they're holdings they would've doubled their wealth if done correctly. Don't diss something because you don't understand it.
Wow! This was clear and easy to understand. When you don't know where to begin, all doors look great. This helps to quicky weed out everything they make look profitable and easy. For instance, I was looking at crypto only because the ads sound so easy. Not being the best at business, I couldn't figure out where the proof of the income would be. I kept trying to understand. I thought it was simply my ignorance. Only to hear you say if there is a hacking, you have no proof! They don't tell you that in the ads. My intuition that something was missing, served me this time. Also, I can continue to toss out those whole life mailings promising to make me rich.
Thank you so much for this video. Now I have a better idea of what to choose from.
AA
Informative Video 😀 Saving is not investing! Back to work now but this video made my juice break entertaining 👍
Some options are safer than others. I am up by about 70,000.00 this year. But have been down in previous years.
Hey Guys, I love your channel and the solid information you provide. I agree these choices are too risky.
Wow, guys! Totally spot on! I loved your reasoning behind crypto, whole life and annuities. I wish more people knew what you said about those. I understand you're not investing in bonds (I've heard all the bad things too) but people who are older need to park the "cash" portion of their portfolio somewhere and money market investments have become a total waste of time. Since my time horizon with this "cash" is still VERY long, I'm going to put it in a T-bill etf and an ULTRA short bond fund which over the many years it will stay there, should do better for me than money market funds. But yeah, I would never invest in anything but ULTRA-short bonds or bond ETFs - the interest rate risk is simply too high. The meager return you get from bonds just isn't worth the risk. Hope to see you in Lisbon in about 10 years!
Totally agree with you on all these bad investments. I have been burned with options and penny stocks.
I'm binge watching your videos again. Thanks for this info!
I think you gave great advice. I think however, that if you have young kids and you have not reached a certain financial security, you should get term life insurance. Because what would happen to your spouse and kids when one person dies. It's great to say you don't believe in life insurance when you are dead and gone that's fine but the people left behind might end up in a scary place with no money and security. When my kids were young both my husband and I had term life we have now moved it to whole life because our kids are grown and the policy is for them.
I would not advice anyone with no experience in options trading to trade option. I was a options broker and I have seen so many people lose their money within a blink of an eye. And you mostly likely would not understand the risk involved in trading certain spreads positions. And please don't day trade because you miss out to growth but do sell your investments when they have reached a certain amount of gains. The days of buying an holding stocks for 10,15 years are gone. I do trade penny stocks but take your gains as soon as you can and don't take tips from the guy in elevator. Because some of these stock trade in such low volume that any action has an impact on share price. Only do it if the volume is massive and get it and out.
I don't understand bitcoins so that's a no no for me. I don't have money to spend on bags, cars or arts as investment. I like my money in the bank, stock or mutual fund.
Good luck all.
Have you looked at DST (Delaware Statutory Trusts) for "passive" Real Estate Investing when you retired? Any thoughts?
Love the new channel! What a gift to the next generation!
love you guys .made things so easy to understand thankyou
Aww, thank you Gardenia!!!