The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Recessions are where millionaires are created. I feel for the older generation, but you should do everything possible to double and triple your investments if you are young or middle age.
@David Anderson Boston That’s right, Markt slumps are one of the worst times to withdraw your moneey from the maket. hence i advise getting the guidance of an expert to make this downturn count.
I’m 23 almost 24, the thought of saving so that I have money at 65 just seems annoying. I don’t really care. I also have a problem with delayed gratification lol
@@champagneprincess4 modern world taught you to live like this, try to resist trends and toxic surrounding and focus on yourself, not even on your 60ties but even 30ties, it will come sooner than You think 😢 yesterday I was 23 aswell as You, today I’m 28 and tomorrow I’ll be already 30. Life is moving too fast.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
Investing in many sources of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Bitcoin and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
I prepare my own food, coffee and snacks everyday without fail, only on rare occasions I go to buy prepared food. I stopped random shopping, only goes to grocery store once a week, to gas station once in 2 weeks. Bought used car n cash, stopped weekend trips and negotiated low mileage insurance. Stopped gym membership and do walking routine and exercise in the park. Payoff my credit card balance before due date. Saved up 65% of my take home pay this way and never been as happy. You see, all the things they advertised like nice house, cars, vacations, etc don’t really make me happy, it’s the simple things, the peace of mind, and ability to share are what truly give me happiness.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Exactly, getting proper financial advise is invaluable, my portfolio is well-matched for every season of the market and recently hit 140% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year.
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.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
I agree. It took me 3 years to save 15,000, in my emergency fund. I haven't seen 15,000 in three years. Things kept happening. My goal is to replenish to 10K.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Firms can be unscrupulous as they prioritize their own commission over your profitability. On the other hand, I prefer working with individual investors like "Helene Claire Johnson", who only take a share from your profits, not your capital. I must say, my experience with her has been exceptional thus far.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
Cant reveal much info,Kate Elizabeth Amdall is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
53 yr old here. I love seeing young people like yourself being "nerdy" with money. Your future self will thank you later, and, you're helping other young people by giving them awesome advice. Great video!! 👍🏼
We ain't guaranteed tomorrow...I'm living it up now .yolo. Seen a story. husband worked too much his entire life never spent time with his family says he'll spend time with them when he retires. He died before retiring
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
You're right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy, you must be a skilled practitioner.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
Angela Rodriguez Elias is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Investors should exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks and get taxed again once you sell. Want to invest over 300k on the stock market, how do I achieve this?
Having an investment adviser is the best way to go about the stock market right now, I've been in touch with a coach for awhile now mostly and I made over $800K within a year
Lisa Angelique Abel is my Advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
On my way to $18k in the next 6months. Making just over $5k a month from work and I already have $3k in savings. Gotta admit it VERY HARD trying not to touch it with a partner that isn’t working.
I think it’s important to note that this advice can easily be applied to all income earners. It may come off as insensitive but it’s important to garner the habits associated with frugality. To save money is to make decisions on your life and how it’s lived. Be honest with yourself and only spend on things that are important to you. It’s easy to fall in a trap convincing yourself too many things are important to you, however. Create a list of priority, sacrifice what is least important relative.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
This is really impressive, hope you don't mind if I ask you to recommend this particular professional you use their service? I have quite a lots of difficulty sorting myself out in this downtime.
My advisor is 'Natalie Marie Tuttle'. In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience
Thanks for sharing this. I curiously searched for her full name and her website came up top search. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
At 13 years old I sold drugs all the way until I was 22 when I went to prison for 2 years. I had saved 20k 30k over and over while spending extravagantly. Now I would never consider illegal activities for money. Now I work a 9 to 5 and am learning how to budget and save. I live below my means and although it seems impossible to get ahead I don’t have any doubt in myself. Thank you for this wonderful video. And good luck to everybody on their savings and budgeting journey !
You're very inspiring.the fact you're so young & forthrite & motivated is so encouraging.by the way,I feel another way to create income is to learn new skills& applying them.i believe that things happen when you make them happen,instead of by chance.
@@marcus-is2nx imagine your moms house getting raided with your nephews in it crying terrified imagine sitting in prison wasting your life becoming a drain on everyone you love imagine living in a 6x8 cell having to shit with somebody in the same room everyday living amongst rapists and killers imagine losing everything you’ve ever had…
You should do a new video about Badkhencorp ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
Great video ! I’m working two jobs right now, full time carpenter during the day and I own a Muay Thai gym. We’ve got a baby coming in a few days as well so working the 2 jobs has been huge. I’ve been saving lots this year, been putting away just over $800 a month. I’m really trying to save up $10K this year. I’ve been focused on work, the teaching at night time and want to start to start teaching more private lessons. I feel I’m doing pretty good and happy to be saving these days, but really want to do better always. Right now saving $800 a month, I want to be able to save over $1000 a month. That’s one of my goals. Love the video man, thank you for this
I haven’t gotten through this whole video, but the fact that you acknowledge that your living budget should include creature comforts, like getting a coffee in the morning, already makes this video more valuable to me than any advice from financial course teachers, those “how to get rich” videos, or any of those investing TH-camrs who say buying a coffee every day is why people are poor
Not buying coffee should be so personal.... I can go fine without coffee but other people cannot function. But that being said I think when those people talk about coffee they are talking about paying 10$ for coffee or things like that.
@@rsevn I take a bike to work every single day it takes me 45 minutes , so from 6:30am-6:30pm and get home by 7:40 ish I'm definitely saving up my money I'm car sick so that's why I'm scared to buy a car I been in death situations in a car but hopefully one day I overcome that cuz I definitely would like a car
I’m 31 and most money I had saved in my savings was 30, these concepts only work for people without kids, I have 4 kids , with them rent and bills , I struggle to save money now, I wish I knew stocks or something good to invest to start doubling my money
One important thing is to be in a relationship with someone who shares the same spending/saving values. If your partner is bad with money they will negatively effect your efforts in saving money. You will resent this and it will kill the relationship in the end
Badkhrncorp is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks, coins, gold etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car paid off. So i can just save. feel lucky at this point I'm actually grateful for Lisa Rosa Cavanagh handling my portfolio,
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
I agree with you, Covid taught us the importance of having a plan "B" income. You are not safe with just one paying job, when nobody knows what will happen next. Look at what happened to so many of u...
Investment is that tiny line that separates the RICH from the POOR. The foolish from wise sorry to say. I can proudly say I am wise today because I can provide for my family through my investments.
These are what beginners do think, me too I used to think the same way... Thank God I met Mrs Camille Anne Hector...she helped me in trading and inculcate how the market works..
There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.
I started out with a financial advisor called *Sharon Louise Count* Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI.
She appears to be very knowledgeable. I found her webpage and read through her resume, educational background, and qualifications, which were all very impressive.
I completely agree but honestly, for me the first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $1.2M nest egg. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
Please how did you do this? do you use an fa? and if you do please can you leave the info of your investment analyst here? I overheard someone talking about how a couple made over $200k during this red season. I need such luck for myself and my wife lol
@@robinsonbaker1963 lol sure i do and her name is Olivia Rene Reyes. You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
Man you ain’t lying about the first 10K… i made it to 9K in savings but had to take some out but I’m back on track to get to 10K i just gotta stick to a budget and keep saving
yep budget and discipline you will reach your goal and maybe even surpass it like I did because once you get up to 20k you will never look back and never allow yourself to drop below that 20k
Don't worry! The point is you had it and when a problem arrived, you didn't go into debt to handle it. Focus on increasing your skillsets so you can earn a higher income. It's the fastest way to your first $100k net worth.
Badkhencorp is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
First video I’ve seen from you and this was great. I’m working towards my first 10k. I can’t even imagine 100k let alone 50k. I’m stuck in an endless loop of wishing I had what others have. I wish it was easier to figure out what to invest in or where to put my money but I guess I just need to trust the process.
I agree this is the exact plan i am using for my payday- Also, paying off debt with a single income which isn't a lot but still can't believe once i got aggressive with paying off debt - in just 7 months paid off nearly £4000!! and saved money as well. Its all about how bad you want to reach that goal!
That's amazing! It doesn't matter if its a lot or not. Don't focus on the amounts but what you are building. Set that financial foundation (good credit score + 6 months of expenses saved) and knock out that debt. Then focus on the investments. Don't forget to invest in yourself. Increase your skills and knowledge so you can earn more money. Income is the number one determinent of wealth.
The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean off news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?
We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
@@MargaretSchwerdtmann My Financial Advisor is “Colleen Janie Towe’’. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.
So, so, so smart to pay off debt and not go back in debt no matter what. Thanks for the info! Student loans and vehicle loans are what keep people in middle class their whole lives!
I watched a lot of budget videos but this makes so much sense and is so simple. Baseline living 70% 20% savings and 10% goals. Love that. Still in the debt paying off process but I like to look toward the future and map it out. Thx for the inspo
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
*Cioffibrown Alison* is the licensed fiduciary I use. he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me he strategy works hence my result. He provides entry and exit point for the securities I focus on.
Thanks for the insight, but I'm still confused why Bitcoin and crypto prices keep dropping? This drop follows a number of other significant drops in recent weeks. I still hold enormous value of cryptos and it scares me. Whats your take on this?
The best technique to use in the crypto market is to trade with a professional who understands the market quite well, that way maximum profit is guaranteed
@@graceandrew3526Actually an pro-broker Mrs Shirley is the mastermind and the best in crypto world that's while I invest in some real estate with the profit I make.
I totally agree! Investment with an expert has also changed my life financially and I have heard a lot about investments with Mrs Angela Cole Carr and how good she is,
I totally agree! Investment with an expert has also changed my life financially and I have heard a lot about investments with Mrs Angela Cole Carr and how good she is,
Wow, so delighted seeing my broker talked about on TH-cam, This was exactly how i got recommendation about Mrs Angela Cole Carr, At first i was a bit skeptical but eventually i gave her a trail with my little investment i got huge profit
I agree with almost all of this. Only thing I’d change …. Paying off debt - attacking the largest interest rate first. I understand the concept. But for me, hitting goals was the biggest thing. So paying off the smallest debt first was huge! Gave me some confidence that I’m doing the right thing. And I was looking forward to getting the next one done. Chasing that feeling of accomplishment! But everyone has their own path. Any progress is still progress.
I paid off the smallest bill and brought it to zero. And moved to the next one. It helped me to pay more on the big one in the end. Maybe, my strategy is wrong?
I’m in the first step! Establishing a baseline that will enable me to get rid of my debt first and foremost!! It’s hard, as it requires consistency but I’m willing!! Boy am I willing!!!
I saved over $20K twice over the course of a year or 2 but after losing jobs and paying bills both times I spent the majority of my emergency fund. I made a decision to get a better job, make more money and start planning for my future and retirement. I'm up to $77K currently and moving forward.
i officially accept this challenge. i’ve been able to save for previous goals, like a car and all other expenses that came with rebuilding the one i wanted. this doesn’t feel that hard it’s just the procrastination because i felt comfortable because i always have a lil sumn tucked away for emergencies. But i want more 👹
I prefer 30 year mortgage simply due to the fact that well if I want to treat it like a 15 year old mortgage I can do that just double each payment however if I ever run into a difficult month for whatever reason in the next 15 years I can simply pay the 30 year payment save some money and be just fine.
@@TommyBryson Great advice but being in expensive California I agree with the 30 year mortgage since you can always double up payments or if you get a large inflow of money such as stock gain or stock options at work you can pay down at your leisure instead of being obligated. Life happens.
I’d like to say this. Building a home gym is so much more fulfilling in my opinion because you own all your equipment. You really only need dumbbells and a bench and you have everything you need. It works amazing for me.
A 15 year mortgage is so key. If you're under 25 you can have your house paid off before you are 40. If you're mortgage is $1200 a month, that's $14,400 a year you can be saving towards retirement. Do that for 20 years, that's almost $300k. That's a nice amount if you have low expenses.
Try telling a 22 year old with a professional job he or she should not be tricking off their money on a nice car, going out on weekend, and lavish vacations.... Lol
@@njrom2975 $1200 a month is just an example. My parents bought a 5 bed 2.5 bath house in a nice area before the prices went up. There mortgage is $900 a month. If you're mortgage on a 30 year loan is $2200 a month, you can pay $2800 a month for the same house for 15 years. After 15 years your loan is paid off and can save $33,600 a year for 15 years, that's $504,000.
My first $500 was very difficult for me. I’m almost to 1k. My problem was gambling and taking money not seriously. But all in all I believe this guy is truly helping others So Thank you
First of all, this video is a banger especially for freshers like me who have no idea as to where to start when it comes to savings. Just wanna say this video is helping a lot.
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss VRITKN300
@@StopMarxism no. Y'all are just simple minded and can't see the bigger picture. They want y'all worried about race and shit. While they make billions every year... Keep arguing about something as stupid as the color of your skin.
My wife and I are trying to get qualified for a home in TN. Hopefully I can follow your steps and lock it down. Jus paid one card off completely, paid my revolving credit line bill down $250, and made an extra payment on my car loan!
This is not a great time to buy a house, you should keep working on getting those debts paid off and more savings first. Hopefully house prices and interest rates come down by the time you're ready to purchase. All the best!
@@mulletsquirrel Thing is, we don't know that they are coming down and if so, when it will be. As bad as it is now, it could go higher, making the near 7% desirable.
Sense. I read the book, “The Richest Man in Babylon.” Greatest book I’ve ever read; and I’m applying the 10% and pay yourself first “approach”, and it’s going on 3 months for me strong and I’m super excited!
Great advice! I myself started young and thinking like this at 16. And usually have at least $1200 left over a month. And thats with a $600 car payment what can I say love my kia stinger 😅
took me 4 months to save $2700 with a $1000 a month income. I literally quit fedex a week ago because I felt I was helping them but they weren’t helping me. Thanks for the tips these are things I was doing with my $280-300 a week income let’s me know I’m doing something right. 🙌🏾
It’s hard to save and invest but I’ve been doing it. And I want to do It comfortably. So I decided to buy a Corvette. They I bought another car and put it in my business name. Then I took a trip to New Orleans. I just bought a pair of those dolce and Gabbana thousand dollar shoes. I still save thousands of dollars per month. And invest thousands more in stocks. Man, it hard because I really want to buy a house but these prices are a rip off. Debt ain’t shit when your income is high. I want everybody’s goal to be to net at least 10k per month in income. MINIMUM. And optimally 15k and up.
I was struggling as a retiree then took the brave decision to sell my house move across country pay cash for a house and pay cash for a used car. So glad i did this
Mine is a little tricky because I get tips every day. But what’s been working for me is going to the bank every Tuesday and depositing all my cash and transferring the tip money from the pay card to my account. I then keep my checking at 500 and the rest goes to savings. My net worth has climbed 1.5k every month since doing this for 4 months. I’m almost in the positive now.
@@naffvitaltv3291 yeah brother you gotta make a goal to save every week or every month. Or pay your bills early when you are ahead that way you have some breathing room. My tips mostly go to a card. I don’t even have that card on me anymore because I was tempted to use it all the time. Now I’ve just been saving like a mad man and love seeing the number in my savings go up every week. Once the money is in there, it stays there and if I want something I’ll work a few more shifts and get the money first.
You are a perfect teacher! Thank you for explaining this, I can see the light at the end of the tunnel now. I'm going to get started tonight because you make such sense that I know I will success.
I just bought a brand new car for the first time, I pay about 600 or so monthly for my payment and insurance combined. While financing my car I’m trying to save for a heft down payment for my first house. This will seriously help me so much. Thanks man!
Thank u for update video ❤️❤️❤️❤️🔥Been waiting for this 2022 budget video 💕U taught me everything I know now when it’s come to Paying myself & retirement 💯
@@TommyBryson hey Tommy how much do you spend on your car insurance. My car is also paid off and do you live in the United states and what kind of car insurance do you have meaning your option do you have.
im planning on moving out in the next year, im trying to learn to budget now before it’s too late but HOLY… this video made me feel like i can take over the entire industry.
I saved that within 4 months by 1. Cooking at home rather than eating out 2. Reusing crotchet braids other than buying new ones 3. Ignoring family and friends during that period 4. Riding the free bus instead of driving It can be done...just think about the things that cause you to spend alot and cut down on them .
@@littlemissSporadic thank you, that’s super smart! I’ve cut down on eating out a lot and minimize on any unnecessary expenses and buy cheaper brands on necessities
The real challenge to get to financial freedom is to work up to saving 85% or more of your monthly income. This may take some time but will enable you to live below your means, and still get after the goals you want to achieve.
Man i appreciate these videos honestly. Especially growing up in a household with no parents in the household, getting raise by my aunt and she barely knowing anything. You become ignorant of the things you gotta know in life. So besides talking to God and other people, i come to TH-cam to get advice.
This made perfect sense. I love that you dropped this video before what is traditionally pay-day! I do not know if that was intentional but smart move! I will share this with some people.
hi tommy i like your video it hard for me tosaving money im very tight with money im not working iget ssi very small 422 a monthand 512 a month too ineed you help me with saving my budget. i have 3 kids also i dont have none money .. im issue tight single mom it hard for me to be saving like you i live in brooklyn ny no body help me how to saving but i only saving $4.00 in my safe box... comment me back thank you so much.. from tiffane im deaf
this is all new to me im in my early 50's nothing in my saving no emergency account or anything but im working on it and being educated on life changing secrets about saving
if you want to give yourself the largest raise you ever had... payoff all of your debts. All of those previous debt payments will now become investment payments. The borrower is slave to the lender. Stop being a slave. Proverbs 22:7
These are great tips and very straight forward. I’m 21 and now are paying off slot of stuff at once like credit cards and stuff. I have two cars both are paid off and I live with my parents so imma use it to my advantage
Start investing now, your 20s are the best time (if you don't have money in your teens) to let time and compound interest work for you! Yes pay off high interest credit cards of course.
Very sound, wise and knowledgeable advice from a young person. I am only 27 and have a property under my name in Sydney by being frugal and careful with spendings in my early twenties. Whilst others were going travelling to Europe, I prioritised a property. If I sell my house now, I can get 400-600k in profit. Although I maybe a step ahead compared to many people my age, I still feel that I could have been even more careful with unnecessary spendings. I have invested in a masters degree to change careers and am back to square one with my earnings. Although i can make more at 5yr mark than I would have been able to in my previous career at 10 yr mark, I do have a high student loan alongside mortgage to pay off. Back to savings and paying off debt at the same time. Your videos are very motivating and helpful!
Yeah I love drinking coffee daily so I started making coffee at home. And trying to meal prep because I been spending so much money eating out . But I started saving and sometning came up that I had to touch my emergency savings but I am slowly going back up 😆 I love this video !
You're doing great! Focus on investing in yourself as well. Build up your skills in whatever you do to increase your income. That's the fastest route to your first $100k net worth.
Remember that "Seguro Obligatorio" covers only damages you cause other vehicles up to $4,000 (no liability, no damage to own vehicle). Great job on what and how you're providing content.
Although< I have interests in global economics I don't watch the news anymore... I have enough FUD. Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. You're right about keeping level headed when investing so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present has enough to know issues going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over £728k from day trading with VRITKN300
Nice video. Started my first real job yesterday and gona make 60-80k a year starting out at 21 im real glad i came across this vid. Helps get me into the saving mindset
Yeah !! With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate . Just my thoughts
Traders should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional
Quality predictions always. Really helped trading with William G Berkman analysis and services, even with the market in a downward trend. Definitely riding the market wave is a good perspective.
This make so much sense wish this was taught in school during my younger years. It's NEVER to LATE to LEARN something NEW & to past this KNOWLEDGE down to your CHILDREN'S.
I’ve saved almost 10K in 6 months but all I’ve learned from this video is just that you make a lot more than most people. I make a fairly decent amount and some of this stuff you talked about doing is just not even feasible. At least not for me, and I’ve been superb at managing money.
I love this! Great video! I officially saved my first 1,200 today 🙏🏾❤️ With an extra few hundred separate that I will use for my baseline like you mentioned until I get paid again. Y’all I know with me I felt like saving your first $1,000 was HARD! Idk what it was… but reaching and KEEPING that first 1,000 was so so difficult to me , because this is my 2nd time reaching 1,000 but the first time I got “too excited” loss control and spent it quick. 😭 So this time around I really held right to it so that way I got to the $1,100-1,300 point. It got a little better after I hit 1k. My goal is to reach 3k ❤️ Taking baby steps.😭 and then once I see that I can hit 3k then I’m going to reach for 5k and so on!
Make sure you give the money a purpose, like paying off debt, saving for emergencies, investing into retirement or saving for a down payment or a big expenses. I realize that a lot of the time, saving without a goal can lead to spending it
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
The broker I'm in touch with is *ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
I've watched so many videos from other sources and read many different things on ways to save and how to get out of debt and for the first time I can say Tommy's simplicity and the way he explains things it finally hit me. Thank you so much for all that information and knowledge
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich.
The best approach for novices is to trade under the supervision of an expert, trust me you will be debt free.
Wish I knew about crypto trading earlier.stock is good but crypto is better. Brace up and get yourself a bitcoin before it's too late.
Crypto is the future, investing in it will be the wisest thing to do especially with the current rise.
Fear is one of the factors that hinder most people to invest into crypto, most people say ignorance.
Recessions are where millionaires are created. I feel for the older generation, but you should do everything possible to double and triple your investments if you are young or middle age.
@David Anderson Boston That’s right, Markt slumps are one of the worst times to withdraw your moneey from the maket. hence i advise getting the guidance of an expert to make this downturn count.
@David harkins how is this scam spam still present on youtube in 2023
I accept the challenge
I’m 23 almost 24, the thought of saving so that I have money at 65 just seems annoying. I don’t really care. I also have a problem with delayed gratification lol
@@champagneprincess4 modern world taught you to live like this, try to resist trends and toxic surrounding and focus on yourself, not even on your 60ties but even 30ties, it will come sooner than You think 😢 yesterday I was 23 aswell as You, today I’m 28 and tomorrow I’ll be already 30. Life is moving too fast.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
Investing in many sources of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
wanted to trade, but | got discouraged with the market price fluctuations~>
Trading under the guidance of a professional is the best strategy for beginners.
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Bitcoin and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
I prepare my own food, coffee and snacks everyday without fail, only on rare occasions I go to buy prepared food. I stopped random shopping, only goes to grocery store once a week, to gas station once in 2 weeks. Bought used car n cash, stopped weekend trips and negotiated low mileage insurance. Stopped gym membership and do walking routine and exercise in the park. Payoff my credit card balance before due date. Saved up 65% of my take home pay this way and never been as happy. You see, all the things they advertised like nice house, cars, vacations, etc don’t really make me happy, it’s the simple things, the peace of mind, and ability to share are what truly give me happiness.
Yess
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Exactly, getting proper financial advise is invaluable, my portfolio is well-matched for every season of the market and recently hit 140% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year.
@@RobbieNixon-d1w this is awesome! can you please leave the info of your advsor here? i’m in dire need of financial advisory
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.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
“I got a money routine” has to be one of the hardest quotes i’ve heard, thank you for helping us bro!
I agree. It took me 3 years to save 15,000, in my emergency fund. I haven't seen 15,000 in three years. Things kept happening. My goal is to replenish to 10K.
You're a responsible adult things come up
don't call it an emergency fund because then you will have emergencies! I call mine my cash reserve xoxo
@@lifewithmargot great point
This may sound funny but pray over your finances the devil can cause our money growth to be stagnant by causing “things to happen “ .#Pray
@@kimberlyjredeemed FACTS
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Firms can be unscrupulous as they prioritize their own commission over your profitability. On the other hand, I prefer working with individual investors like "Helene Claire Johnson", who only take a share from your profits, not your capital. I must say, my experience with her has been exceptional thus far.
Most likely, you can find her basic information online; you are welcome to do further study.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
Mind if I ask you to recommend how to reach this particular coach you using their service? Seems you've figured it all out unlike the rest of us.
Cant reveal much info,Kate Elizabeth Amdall is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
I just checked her out and I have sent her an email. I hope she gets back to me soon.
53 yr old here. I love seeing young people like yourself being "nerdy" with money. Your future self will thank you later, and, you're helping other young people by giving them awesome advice. Great video!! 👍🏼
What color is your Bugatti?
@TllBizzare not now
You are not nerdy, but very mature. Many young people need to emulate you.
We ain't guaranteed tomorrow...I'm living it up now .yolo.
Seen a story. husband worked too much his entire life never spent time with his family says he'll spend time with them when he retires. He died before retiring
@@anon2414well when tommorow comes and you have no retirement you ain’t gonna be to happy
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
You're right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy, you must be a skilled practitioner.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
Angela Rodriguez Elias is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Investors should exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks and get taxed again once you sell. Want to invest over 300k on the stock market, how do I achieve this?
If you're not who understands strategies to invest, just invest through an advisor, making good profits, avoiding taxes.
Having an investment adviser is the best way to go about the stock market right now, I've been in touch with a coach for awhile now mostly and I made over $800K within a year
This is probably what I should do. Who is your advisor, please?
Lisa Angelique Abel is my Advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
On my way to $18k in the next 6months. Making just over $5k a month from work and I already have $3k in savings. Gotta admit it VERY HARD trying not to touch it with a partner that isn’t working.
You ain’t lying bro
I don't know your situation, but I hope that your partner gets to work soon. Two incomes is almost a necessity these day. Peace and Blessings to you
Aye bro i don’t seem to be annoying but I’m just curious.. what do you do for a living? Give me the cheat codes
@@de4dbythursday disability support worker. In Australia it’s 5th easiest cheat code with $2k a week easily
@@andrekamara3398 $2K a week but you make $5K a month?
I think it’s important to note that this advice can easily be applied to all income earners. It may come off as insensitive but it’s important to garner the habits associated with frugality. To save money is to make decisions on your life and how it’s lived. Be honest with yourself and only spend on things that are important to you. It’s easy to fall in a trap convincing yourself too many things are important to you, however. Create a list of priority, sacrifice what is least important relative.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
This is really impressive, hope you don't mind if I ask you to recommend this particular professional you use their service? I have quite a lots of difficulty sorting myself out in this downtime.
My advisor is 'Natalie Marie Tuttle'. In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience
Thanks for sharing this. I curiously searched for her full name and her website came up top search. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
At 13 years old I sold drugs all the way until I was 22 when I went to prison for 2 years. I had saved 20k 30k over and over while spending extravagantly. Now I would never consider illegal activities for money. Now I work a 9 to 5 and am learning how to budget and save. I live below my means and although it seems impossible to get ahead I don’t have any doubt in myself. Thank you for this wonderful video. And good luck to everybody on their savings and budgeting journey !
13 graduation 🎓 lol
You're very inspiring.the fact you're so young & forthrite & motivated is so encouraging.by the way,I feel another way to create income is to learn new skills& applying them.i believe that things happen when you make them happen,instead of by chance.
But imagine the profit with the 9-5 AND selling drugs
@@marcus-is2nx gotta think of the danger,the risk if they even do that.
@@marcus-is2nx imagine your moms house getting raided with your nephews in it crying terrified imagine sitting in prison wasting your life becoming a drain on everyone you love imagine living in a 6x8 cell having to shit with somebody in the same room everyday living amongst rapists and killers imagine losing everything you’ve ever had…
You should do a new video about Badkhencorp ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
Great video ! I’m working two jobs right now, full time carpenter during the day and I own a Muay Thai gym. We’ve got a baby coming in a few days as well so working the 2 jobs has been huge. I’ve been saving lots this year, been putting away just over $800 a month. I’m really trying to save up $10K this year.
I’ve been focused on work, the teaching at night time and want to start to start teaching more private lessons. I feel I’m doing pretty good and happy to be saving these days, but really want to do better always. Right now saving $800 a month, I want to be able to save over $1000 a month. That’s one of my goals.
Love the video man, thank you for this
I haven’t gotten through this whole video, but the fact that you acknowledge that your living budget should include creature comforts, like getting a coffee in the morning, already makes this video more valuable to me than any advice from financial course teachers, those “how to get rich” videos, or any of those investing TH-camrs who say buying a coffee every day is why people are poor
Not buying coffee should be so personal.... I can go fine without coffee but other people cannot function. But that being said I think when those people talk about coffee they are talking about paying 10$ for coffee or things like that.
this!
@@rsevn I take a bike to work every single day it takes me 45 minutes , so from 6:30am-6:30pm and get home by 7:40 ish I'm definitely saving up my money I'm car sick so that's why I'm scared to buy a car I been in death situations in a car but hopefully one day I overcome that cuz I definitely would like a car
ppl will spend $150-200 per month on coffee from the shop instead of making their own for cheap lol
I agree and understand what you mean. But if you want to save any more money buy a keurig or a cheap coffee maker.
Got my first 10k! It feels amazing. I’ve changed my spending habits and it’s made the biggest impact. I love videos like these.
WhAt did u do ?
"I’ve changed my spending habits and it’s made the biggest impact."@@Gogetta2
Congrats! I'm almost there 😁👍🏻
I’m 31 and most money I had saved in my savings was 30, these concepts only work for people without kids, I have 4 kids , with them rent and bills , I struggle to save money now, I wish I knew stocks or something good to invest to start doubling my money
@@robertvega3078what would you do if starting again?
One important thing is to be in a relationship with someone who shares the same spending/saving values. If your partner is bad with money they will negatively effect your efforts in saving money. You will resent this and it will kill the relationship in the end
Badkhrncorp is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks, coins, gold etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car paid off. So i can just save. feel lucky at this point I'm actually grateful for Lisa Rosa Cavanagh handling my portfolio,
smart, because if you have stakes in different etfs, grade bonds and others...you wouldn't be pressured to sell during the stock markets downturn
I did read about Lisa Rosa Cavanagh on the web., quite a great resume she has
I also think that we salary earners need to realize that monthly income will not make you rich.
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
Zero debt is not good in the business world homie
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
I agree with you, Covid taught us the importance of having a plan "B" income. You are not safe with just one paying job, when nobody knows what will happen next. Look at what happened to so many of u...
Job will pay your bills, business will make you rich but investment makes and keep you wealthy, the future is inevitable 💵
Investment is that tiny line that separates the RICH from the POOR. The foolish from wise sorry to say. I can proudly say I am wise today because I can provide for my family through my investments.
These are what beginners do think, me too I used to think the same way... Thank God I met Mrs Camille Anne Hector...she helped me in trading and inculcate how the market works..
Trading with Mrs. Camille has been the right choice I made so far this 2022 at least I've achieved some of my goals, $86,000 and still investing
There is potential for considerable wealth increase with the correct strategy. I want to know; How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.
That’s impressive, have you always had a financial advisor?
I started out with a financial advisor called *Sharon Louise Count* Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI.
She appears to be very knowledgeable. I found her webpage and read through her resume, educational background, and qualifications, which were all very impressive.
blessed to have saved over 10k by 18. started working hard young and just saved as much as i could. now i got a nice chunk to work with.
$6000 was the highest amount I ever saved. Now, I’m down to $3,800 because “life” got in the way.
FACTS
Same keep grinding we will have what we desire one day🙏
Stay strong bro!!! Keep going. That’s how it goes. Ups and downs.
Just don't give up. Keep pushing
Ur still doing good way better than most people I know.i had a settlement that basically spent on my ladyfriend.now,Im being more careful.
I completely agree but honestly, for me the first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $1.2M nest egg. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.
I also think that we salary earners need to realize that monthly income will not make you rich.
Please how did you do this? do you use an fa? and if you do please can you leave the info of your investment analyst here? I overheard someone talking about how a couple made over $200k during this red season. I need such luck for myself and my wife lol
@@robinsonbaker1963 lol sure i do and her name is Olivia Rene Reyes. You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
@@harleycartley3138 Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.
@@harleycartley3138 I did read about Olivia Rene Reyes on the web, quite a great resume she has
Man you ain’t lying about the first 10K… i made it to 9K in savings but had to take some out but I’m back on track to get to 10K i just gotta stick to a budget and keep saving
yep budget and discipline you will reach your goal and maybe even surpass it like I did because once you get up to 20k you will never look back and never allow yourself to drop below that 20k
Don't worry! The point is you had it and when a problem arrived, you didn't go into debt to handle it. Focus on increasing your skillsets so you can earn a higher income. It's the fastest way to your first $100k net worth.
Badkhencorp is young. Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
First video I’ve seen from you and this was great. I’m working towards my first 10k. I can’t even imagine 100k let alone 50k. I’m stuck in an endless loop of wishing I had what others have. I wish it was easier to figure out what to invest in or where to put my money but I guess I just need to trust the process.
I agree this is the exact plan i am using for my payday- Also, paying off debt with a single income which isn't a lot but still can't believe once i got aggressive with paying off debt - in just 7 months paid off nearly £4000!! and saved money as well. Its all about how bad you want to reach that goal!
Man I’m like you right now . When you really decide to pay off a debt . You became crazy saving money 😅😅
That's amazing! It doesn't matter if its a lot or not. Don't focus on the amounts but what you are building. Set that financial foundation (good credit score + 6 months of expenses saved) and knock out that debt. Then focus on the investments. Don't forget to invest in yourself. Increase your skills and knowledge so you can earn more money. Income is the number one determinent of wealth.
Bravo Mate!!!
The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean off news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?
We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
@@KelvinWallace _>>That's fascinating. How can I contact your Asset-coach as my portfolio is diminish?....
@@MargaretSchwerdtmann My Financial Advisor is “Colleen Janie Towe’’. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.
So, so, so smart to pay off debt and not go back in debt no matter what. Thanks for the info! Student loans and vehicle loans are what keep people in middle class their whole lives!
I watched a lot of budget videos but this makes so much sense and is so simple. Baseline living 70% 20% savings and 10% goals. Love that. Still in the debt paying off process but I like to look toward the future and map it out. Thx for the inspo
I used my money for xxx like you said 😈
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your adviser
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $485k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
*Cioffibrown Alison* is the licensed fiduciary I use. he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television.
You can use something else. for me he strategy works hence my result. He provides entry and exit point for the securities I focus on.
Great VRITKN300. you've reminded me of what someone once said Being rich is having money; being wealthy is having time
On this day august 10 I am going to take up this challenge. Will be back when I save the 10k.
💯
Did you save the 10k
Good luck buddy!
Smart person you are!
@@Jonathan-pr6de almost there
Thanks for the insight, but I'm still confused why Bitcoin and crypto prices keep dropping? This drop follows a number of other significant drops in recent weeks. I still hold enormous value of cryptos and it scares me. Whats your take on this?
I would advice you to trade your assets rather than hodl for a future you aren't sure about, only predictions.
The best technique to use in the crypto market is to trade with a professional who understands the market quite well, that way maximum profit is guaranteed
Amazing, But getting one is easier said than done. If it's not too much to ask, do you know any legit ones?
@@graceandrew3526Actually an pro-broker Mrs Shirley is the mastermind and the best in crypto world that's while I invest in some real estate with the profit I make.
The crypto market has really made a lot of people rich.
I love how you never cut the video, makes it a lot more personal and enjoyable
Anyone who is not investing now is missing a tremendous opportunity .
I totally agree! Investment with an expert has also changed my life financially and I have heard a lot about investments with Mrs Angela Cole Carr and how good she is,
I totally agree! Investment with an expert has also changed my life financially and I have heard a lot about investments with Mrs Angela Cole Carr and how good she is,
Wow, so delighted seeing my broker talked about on TH-cam, This was exactly how i got recommendation about Mrs Angela Cole Carr, At first i was a bit skeptical but eventually i gave her a trail with my little investment i got huge profit
No doubt... There are quite a few sincere
expert though
Thanks for the information
I agree with almost all of this. Only thing I’d change …. Paying off debt - attacking the largest interest rate first. I understand the concept. But for me, hitting goals was the biggest thing. So paying off the smallest debt first was huge! Gave me some confidence that I’m doing the right thing. And I was looking forward to getting the next one done. Chasing that feeling of accomplishment! But everyone has their own path. Any progress is still progress.
I agree ..A WIN IS A WIN❤
Snowball versus Avalanche methods; as long as your paying off that debt 👏👏👏
I paid off the smallest bill and brought it to zero. And moved to the next one. It helped me to pay more on the big one in the end. Maybe, my strategy is wrong?
I’m in the first step! Establishing a baseline that will enable me to get rid of my debt first and foremost!! It’s hard, as it requires consistency but I’m willing!! Boy am I willing!!!
I saved over $20K twice over the course of a year or 2 but after losing jobs and paying bills both times I spent the majority of my emergency fund. I made a decision to get a better job, make more money and start planning for my future and retirement. I'm up to $77K currently and moving forward.
i officially accept this challenge. i’ve been able to save for previous goals, like a car and all other expenses that came with rebuilding the one i wanted. this doesn’t feel that hard it’s just the procrastination because i felt comfortable because i always have a lil sumn tucked away for emergencies. But i want more 👹
I prefer 30 year mortgage simply due to the fact that well if I want to treat it like a 15 year old mortgage I can do that just double each payment however if I ever run into a difficult month for whatever reason in the next 15 years I can simply pay the 30 year payment save some money and be just fine.
Thats why we save 6 months worth of emergencies before buying a house
@@TommyBryson Great advice but being in expensive California I agree with the 30 year mortgage since you can always double up payments or if you get a large inflow of money such as stock gain or stock options at work you can pay down at your leisure instead of being obligated. Life happens.
It does strap up more money. But, you pay much less in interest too.
If you double your payment every month (including your escrow) you'll have a 30 year mortgage paid off in way less than 15 years.
I’d like to say this. Building a home gym is so much more fulfilling in my opinion because you own all your equipment. You really only need dumbbells and a bench and you have everything you need. It works amazing for me.
Maybe for recovery, like sauna and cold tank; however I do like the gym for friends and everything else
I ALWAYS CIRCLE BACK AND REWATCH THIS EVERY NOW AND THEN. BECAUSE THIS CHANGED MY LIFE ON 1 YEAR
"When you get a raise, DON'T INCREASE YOUR BASELINE" 💯💯
A 15 year mortgage is so key. If you're under 25 you can have your house paid off before you are 40. If you're mortgage is $1200 a month, that's $14,400 a year you can be saving towards retirement. Do that for 20 years, that's almost $300k. That's a nice amount if you have low expenses.
Try telling a 22 year old with a professional job he or she should not be tricking off their money on a nice car, going out on weekend, and lavish vacations.... Lol
How exactly does one get $1,200 a month mortgage these days?
Honey 1200 mortgage don’t exist anymore , unless you live in the wood cabin in arkansas . Hahahah pls get your facts straight
@@adamcz3183 it’s a Disney dream . 1200 is rent not a mortgage
@@njrom2975 $1200 a month is just an example. My parents bought a 5 bed 2.5 bath house in a nice area before the prices went up. There mortgage is $900 a month.
If you're mortgage on a 30 year loan is $2200 a month, you can pay $2800 a month for the same house for 15 years. After 15 years your loan is paid off and can save $33,600 a year for 15 years, that's $504,000.
My first $500 was very difficult for me. I’m almost to 1k. My problem was gambling and taking money not seriously. But all in all I believe this guy is truly helping others So Thank you
How much you got now brother?
First of all, this video is a banger especially for freshers like me who have no idea as to where to start when it comes to savings. Just wanna say this video is helping a lot.
I have learned so much from u. Thanks to what u have taught me, I am now able to help out my family a lot more.
that is awesome 👌
Helping my family out seems to ALWAYS be the reason for my dwindling savings!
I love seeing my fellow blacks in the budgeting community! Love the video!
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss VRITKN300
No one is respected by corporate America.. people still think it's about color instead of poor vs rich.. 🤣🤣
it’s both
lmfao over here still thinking you're a victim in 2023 when everyone kisses your ass left and right and you can be a "diversity" hire.
@@user-bp4qq7tt1u it's both, please dnt pretend, and you do not have to be woke to see this
@@StopMarxism no. Y'all are just simple minded and can't see the bigger picture. They want y'all worried about race and shit. While they make billions every year... Keep arguing about something as stupid as the color of your skin.
Sense. Team long term, almost at 10k in investments since 2020. Looking forward to next 10k. I like the progress I see. Thank you Tommy
That’s awesome and What are you saving for ?
@@TommyBryson my name is Tony Smith I am your number one fans
I will start my $10,000 journey on pay day!!! Will keep you posted
My wife and I are trying to get qualified for a home in TN. Hopefully I can follow your steps and lock it down. Jus paid one card off completely, paid my revolving credit line bill down $250, and made an extra payment on my car loan!
good shit bro, keep that mentality and youll be well on your way to wealth
hey yeah that will be awesome 👌
I’m trying to, I would like to own a home by 2025
This is not a great time to buy a house, you should keep working on getting those debts paid off and more savings first. Hopefully house prices and interest rates come down by the time you're ready to purchase. All the best!
@@mulletsquirrel Thing is, we don't know that they are coming down and if so, when it will be. As bad as it is now, it could go higher, making the near 7% desirable.
Sense. I read the book, “The Richest Man in Babylon.” Greatest book I’ve ever read; and I’m applying the 10% and pay yourself first “approach”, and it’s going on 3 months for me strong and I’m super excited!
Best book! It was written before the Great Depression. First finance book. I also enjoyed Rich Dad, Poor Dad.
@@monikaw1369 👀
Maybe I should give it an other try
I read about 20% of that book and got bored of it 😅
I will start reading it again
When I seen your car so much respect was built. Thank you for being humble
Working on putting together 10k as we speak, & low and behold this video shows up on my timeline! Great video, continue to motivate and inspire!💥
Congrats Tommy. You're blessed. And now you get to share some of that wisdom.
Great advice! I myself started young and thinking like this at 16. And usually have at least $1200 left over a month. And thats with a $600 car payment what can I say love my kia stinger 😅
A man with a plan and a man who knows wtf's up. Respect. So much valid and helpful points. Thanks Tommy! New subbie here 😃
Welcome and thank you 🙏
Sense !! I’m excited to start a trial run this December and full send it into ‘24!
Keep me updated
took me 4 months to save $2700 with a $1000 a month income. I literally quit fedex a week ago because I felt I was helping them but they weren’t helping me. Thanks for the tips these are things I was doing with my $280-300 a week income let’s me know I’m doing something right. 🙌🏾
Wtf Get a Full time Job already!
@@morebass6644 yeah you tell them!… telling another grown person how to live🤦♂️😴
@@swagga1able Sounds like You need a Full time Job 😂
McDonald's starting at $15.50 😂
@@johnwolford2715 You go work there
It’s hard to save and invest but I’ve been doing it. And I want to do It comfortably. So I decided to buy a Corvette. They I bought another car and put it in my business name. Then I took a trip to New Orleans. I just bought a pair of those dolce and Gabbana thousand dollar shoes. I still save thousands of dollars per month. And invest thousands more in stocks. Man, it hard because I really want to buy a house but these prices are a rip off. Debt ain’t shit when your income is high. I want everybody’s goal to be to net at least 10k per month in income. MINIMUM. And optimally 15k and up.
I was struggling as a retiree then took the brave decision to sell my house move across country pay cash for a house and pay cash for a used car. So glad i did this
I'm happy for you. We identify ourselves with our things. When we could put ourselves in better positions just by selling them
Mine is a little tricky because I get tips every day. But what’s been working for me is going to the bank every Tuesday and depositing all my cash and transferring the tip money from the pay card to my account. I then keep my checking at 500 and the rest goes to savings.
My net worth has climbed 1.5k every month since doing this for 4 months. I’m almost in the positive now.
Please advice.i am in hospitality industry and whenever i get tips i end up misusing. Having that mindset 'i will still get tips tomorrow'
@@naffvitaltv3291 yeah brother you gotta make a goal to save every week or every month. Or pay your bills early when you are ahead that way you have some breathing room.
My tips mostly go to a card. I don’t even have that card on me anymore because I was tempted to use it all the time.
Now I’ve just been saving like a mad man and love seeing the number in my savings go up every week. Once the money is in there, it stays there and if I want something I’ll work a few more shifts and get the money first.
@@naffvitaltv3291 and just an update since the post I’ve continued to save and now I’m 3k in the positive net worth and counting.
@@justinthematrix wow thats intresting,you are now my role model,i just have a save save mindset now.thanks bro
@@naffvitaltv3291 you’re welcome good luck
You are a perfect teacher! Thank you for explaining this, I can see the light at the end of the tunnel now. I'm going to get started tonight because you make such sense that I know I will success.
I accept the challenge I watch multiple of your videos and now I’m ready to do the work
I just bought a brand new car for the first time, I pay about 600 or so monthly for my payment and insurance combined. While financing my car I’m trying to save for a heft down payment for my first house. This will seriously help me so much. Thanks man!
Thank u for update video ❤️❤️❤️❤️🔥Been waiting for this 2022 budget video 💕U taught me everything I know now when it’s come to Paying myself & retirement 💯
You got this
@@TommyBryson hey Tommy how much do you spend on your car insurance. My car is also paid off and do you live in the United states and what kind of car insurance do you have meaning your option do you have.
im planning on moving out in the next year, im trying to learn to budget now before it’s too late but HOLY… this video made me feel like i can take over the entire industry.
Great information!!! I need a partner who believes in this...We can get so ahead!!
big facts having a partner with this same mindset is a huge helped but very hard to find
Thanks for this video. I'm tired of living check to check and managing my money so poorly. Time to change.
You got this bro
I accept the $10,000 challenge! My goal is to get it done by March 14th!
You'll get there, if not 10k plus!!!👏🏿👏🏿
I saved that within 4 months by
1. Cooking at home rather than eating out
2. Reusing crotchet braids other than buying new ones
3. Ignoring family and friends during that period
4. Riding the free bus instead of driving
It can be done...just think about the things that cause you to spend alot and cut down on them .
@@littlemissSporadic thank you, that’s super smart! I’ve cut down on eating out a lot and minimize on any unnecessary expenses and buy cheaper brands on necessities
Sending this to my 24yr old nephew❤
This was simple advice, but easy to follow, and it made sense. I am going to focus on my financial goals differently thanks to this video!
The real challenge to get to financial freedom is to work up to saving 85% or more of your monthly income. This may take some time but will enable you to live below your means, and still get after the goals you want to achieve.
You gotta be making real bank to save 85% of your income, or be living at your parents' house!
@@mulletsquirrel I make $51,000 a year and it really depends on where you live for the cost of living. Saved ~$500k in 11 years doing this.
@@gastilt impressive! I am not sure I could do that while supporting my wife and three kids lol
@@gastilt if you can survive on $8k a year, you should stop working now if you have $500k saved up...
How did you do this ?🤔 pretty good savings 😅
Man i appreciate these videos honestly. Especially growing up in a household with no parents in the household, getting raise by my aunt and she barely knowing anything. You become ignorant of the things you gotta know in life. So besides talking to God and other people, i come to TH-cam to get advice.
Great vid! Reenergized me to start saving and investing now that I’m debt free 🥳
This made perfect sense. I love that you dropped this video before what is traditionally pay-day! I do not know if that was intentional but smart move! I will share this with some people.
I wanted to come out the day off or the day after, to give the person the chance to do it immediately or have a plan for next pay day
@@TommyBryson my name is Tony Smith I am your number one fans
@@TommyBryson my name is Minister Tony Smith I am your number one fans and happy Halloween to you and your family 👪
hi tommy
i like your video it hard for me tosaving money im very tight with money im not working iget ssi very small 422 a monthand 512 a month too ineed you help me with saving my budget. i have 3 kids also i dont have none money .. im issue tight single mom it hard for me to be saving like you i live in brooklyn ny no body help me how to saving but i only saving $4.00 in my safe box... comment me back thank you so much.. from tiffane im deaf
this is all new to me im in my early 50's nothing in my saving no emergency account or anything but im working on it and being educated on life changing secrets about saving
if you want to give yourself the largest raise you ever had... payoff all of your debts. All of those previous
debt payments will now become investment payments. The borrower is slave to the lender. Stop
being a slave. Proverbs 22:7
Facts!!!!
These are great tips and very straight forward. I’m 21 and now are paying off slot of stuff at once like credit cards and stuff. I have two cars both are paid off and I live with my parents so imma use it to my advantage
Start investing now, your 20s are the best time (if you don't have money in your teens) to let time and compound interest work for you! Yes pay off high interest credit cards of course.
Very sound, wise and knowledgeable advice from a young person. I am only 27 and have a property under my name in Sydney by being frugal and careful with spendings in my early twenties. Whilst others were going travelling to Europe, I prioritised a property. If I sell my house now, I can get 400-600k in profit. Although I maybe a step ahead compared to many people my age, I still feel that I could have been even more careful with unnecessary spendings. I have invested in a masters degree to change careers and am back to square one with my earnings. Although i can make more at 5yr mark than I would have been able to in my previous career at 10 yr mark, I do have a high student loan alongside mortgage to pay off. Back to savings and paying off debt at the same time. Your videos are very motivating and helpful!
Yeah I love drinking coffee daily so I started making coffee at home. And trying to meal prep because I been spending so much money eating out . But I started saving and sometning came up that I had to touch my emergency savings but I am slowly going back up 😆 I love this video !
most of ppl income go to food and gas it's crazy so you have to put a strict budget on food
You're doing great! Focus on investing in yourself as well. Build up your skills in whatever you do to increase your income. That's the fastest route to your first $100k net worth.
Remember that "Seguro Obligatorio" covers only damages you cause other vehicles up to $4,000 (no liability, no damage to own vehicle). Great job on what and how you're providing content.
You dropped some gems in this video .
Although< I have interests in global economics I don't watch the news anymore... I have enough FUD. Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. You're right about keeping level headed when investing so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present has enough to know issues going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over £728k from day trading with VRITKN300
Nice video. Started my first real job yesterday and gona make 60-80k a year starting out at 21 im real glad i came across this vid. Helps get me into the saving mindset
This was informative, thank you
Got you
I accept the challenge. I just followed you and if this works I will keep doing it and I will like and comment on all your videos
You got this
Yeah !! With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks and real estate . Just my thoughts
Traders should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional
Wow, that's stirring! Do you mind connecting me to your advisor please. I desperately need one to diversify my portfolio
William G Berkman
Quality predictions always. Really helped trading with William G Berkman analysis and services, even with the market in a downward trend. Definitely riding the market wave is a good perspective.
How can I get in contact with him, please?
This make so much sense wish this was taught in school during my younger years. It's NEVER to LATE to LEARN something NEW & to past this KNOWLEDGE down to your CHILDREN'S.
Will said
I’ve saved almost 10K in 6 months but all I’ve learned from this video is just that you make a lot more than most people. I make a fairly decent amount and some of this stuff you talked about doing is just not even feasible. At least not for me, and I’ve been superb at managing money.
I love this! Great video!
I officially saved my first 1,200 today 🙏🏾❤️
With an extra few hundred separate that I will use for my baseline like you mentioned until I get paid again. Y’all I know with me I felt like saving your first $1,000 was HARD! Idk what it was… but reaching and KEEPING that first 1,000 was so so difficult to me , because this is my 2nd time reaching 1,000 but the first time I got “too excited” loss control and spent it quick.
😭
So this time around I really held right to it so that way I got to the $1,100-1,300 point. It got a little better after I hit 1k. My goal is to reach 3k ❤️
Taking baby steps.😭 and then once I see that I can hit 3k then I’m going to reach for 5k and so on!
Make sure you give the money a purpose, like paying off debt, saving for emergencies, investing into retirement or saving for a down payment or a big expenses. I realize that a lot of the time, saving without a goal can lead to spending it
If you have only been in the grownup world for a few yrs, it is hard, but it gets better.
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
Hi, please who is the expert assisting you and how do I reach out to them?
The broker I'm in touch with is
*ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
I traded with her, The profit are secured and over a 100% return on investment directly sent to your wallet.
I've watched so many videos from other sources and read many different things on ways to save and how to get out of debt and for the first time I can say Tommy's simplicity and the way he explains things it finally hit me. Thank you so much for all that information and knowledge
New subscriber. Love the video great content. Let's get to saving.