Money Expert Reacts to Finance TikToks
ฝัง
- เผยแพร่เมื่อ 12 มิ.ย. 2024
- I’m the host of Netflix’s “How To Get Rich” and in this video, I’ll react to some financial TikToks. Let’s see if they’re good, misleading, or just plain bad.
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Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich”
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AHHHHHHH I can’t believe I made the cut! One of my followers let me know to watch this video ASAP! You’re so right, I’ve easily spent another $12K on repairs and renovations since buying!
Thank you for an awesome video and for being so candid
Your breakdown was great!
@resumeofficial where can we follow you? 🙏🙏🙏 loved your video!!! ❤
Love this one!
People who earn 500k a year complaining about grocery prices is self-induced insanity.
Why? Why should anyone not have the right to complain about inflation?? We spend 3k a month in groceries. Can we afford it? Yes, but I still find it ridiculous that prices have become out of control.
Your words remind me of people like you who don't see someone who makes a good living as inspirational because they are too bitter to be inspired.
@@flacadiabla3193 You have wildly confused yourself if you you believe I think people who earn that much money have it good because I'm bitter. People who earn that and manage to make themselves worried sick about money are the ones being too bitter to enjoy what they've earned. Really just reinforcing my original point.
That you manage to spend 3k a month on groceries is quite the feat, though. Probably look into how you manage to do that.
Flaca
I know several people that make six figures and some that makes millions a year. I DONT see them as inspirational. A few of them are inspiring sure but not really considering I went to school with them and know I’m just as smart.
Look a lot of people that borrow 1.6 million at age 23 can do it cause they have rich family members. Or others get into real estate doing deals by having rich friends back them while the poor kid does the leg work. It’s not super inspiring but just another job.
Like wake TFU. Most jobs that pay six figures or up pay well because of the monetary system we have today. If you can borrow new dollars into existence you’re rich. You’re rewarded way more than others working in other industries. If gold was still money today banking would look less sexy. Banking and making tons of Money is great cause the money supply is elastic.
The federal reserve is privatelyowned paying a 6%dividend to shareholders.
Also how the hell do you spend 3000 on groceries? I could eat out every single day for a month and not spend $3000. Then again I did live in the Philippines among real poor people years ago and now grow a lot of my own food.
But the other comment is right. Sure you’re right that rich people can complain just like anyone else. But it’s also true that if you’re rich inflation affects you less end of story. If you’re paying 3000 on food a month that’s like 36000 a year on food which is what some farm workers make in an entire year.
Like rich people also have assets that benefit from inflation or money printing technically.
The U.S. declared bankruptcy in 1971 and went off the gold standard. So we’ve had Fiat ever since. But what happened after 2020? A crap ton of new currency was created by the government and federal reserve and banks. Banks were told they could lend with zero reserves basically creating new currency out of nothing.
Milton Friedman said inflation is always and everywhere a monetary phenomenon. He’s partly wrong cause trade shortages or sanctions etc and government banning or regulations dramatically affect prices on something’s. But ya when ya spend 7 trillion new dollars food costs are going to go up. Workers growing food for instance need to earn more to afford to live or pay rent. It’s nuts how the federal reserve owns 2.7 trillion in mortgages propping up real estate. Like wtf is a private central bank boosting asset prices? The private central bank was setup to be a buyer of last resort to essentially prevent Great Depressions not create massive bubbles which led to great depressions and then they have to do bigger bailouts once bubbles pop leading to bigger bubbles.
@koltoncrane3099
To answer your question, we actually do not enjoy eating out. We purchase high-quality food from farmers in support and wild seafood. We understand most families can't afford the kinds of foods we purchase for our family, yet despite our comforts, there is always someone who has more than we do, but it doesn't mean we feel bitterness that others have more. We are inspired by the success and hard work of others. We learn from others success-which is why all of us clicked on this video. We may not have suffered financially in life, but we think of our kids' future. People who have little don't get to monopolize on complaints. Quit hating on the rich.
I love “fight for simplicity” - it’s such a mental load off when things are simpler and work even better.
My favorite part about the S&P is when people say "If you take the top 10 stocks, you'd make 10x the S&P" without realizing how it's impossible to know which 10 to pick
Yeah, investing would be so much easier if I could predict the future
You would know if you did your research 😂 the audacity of these people
Well top 10 means highest market cap of the S&P so if you want to follow that advance they provide the list. Go buy
@@AndreaRoldancpa His point is this would be a very bad strategy. If you did this 30 years ago, your stock portfolio would have grown 6.8% annually since then. The S&P 500 grew at at 8.7% over the same period.
Or could get a large cap growth fund like SCHG, VUG, QQQM and take advantage of the MEGA cap companies
Rich is sooo relative. I make under 100kbut have saved most of my adult life and have over 1million in 401K and investments. No mortgage or car payments. So, for me under 100k annual income is rich
One other downside of having a low down payment is directly contradicting the reason people buy homes: you don’t have any meaningful equity and you won’t for several years. If you end up in a situation where you have to sell the house within 3-5 years, you probably end up losing money on transaction costs unless the home value has increased a ton in that time.
Agreed. There's a reason the general rule of thumb for buying is if you're planning on staying somewhere for 5+ years. Sometimes the market is really good and you can make back your money in a shorter span, but not always. Also, homes don't always appreciate, which a lot of people don't get, especially if it was purchased in a hot market and you're trying to sell in a cooler one (*cough* 2008).
I always say I will feel rich when I can
1. Go in the grocery store and load up my cart without worrying about putting stuff back because I'm over budget
2. All my bills are on autopay WITH enough money to always cover the charges
I feel you. ❤
How much you make a year? Partner? Double income? I can do that but then if I want to vacation I can’t. Partner of mine works two young girls it’s a rat race lol
"Why don't you learn to drive a Honda Civic first?" Ramit, you are the best!!
Thanks for your advice
Because I don’t need to drive a Honda Civic First
Luckily for me, when my wife and I got married we were both dead broke college students. No prenup necessary because neither of us had a dime to our name.
What ppl are having problems with money is money management, you can make 60k with no debt at all only housing then you can do the vacation or free guilt money. But if you are making let’s say 100k a year and you’re in debt then you can’t do the things someone else can with better money management.
I need a $100,000 huge truck so I can bring home one bag of lunch from the Home Depot that is a mile away once or twice a decade
lmao
If you need to pick up lunch then you definitely need a McLaren!!
“I love LOVE, too” and the background with lots of pink hearts 💖 💖 💖
Funny! 🤣
Don't call it a prenup. It is a financial plan. It can start out with talking about how things are managed during the marriage and then move to pre-existing assets.
But you still have this before the marriage. Thus PRE nuptials
I like that! ❤
Remember: Its about time in the stock market, not timing the stock market.
Ramit: “In the unlikely event of a divorce.”
Divorce rate: “Hold my beer.”
Gotta love these financial experts who are married. If you ask any sane person if they would take on a 40% risk (divorce rate is 40%) to lose 50% of all of their money, they would tell you you’re absolutely crazy do not do that, and yet, that’s exactly what you’re doing when you get married. And for what? A better tax rate? A signed piece of paper saying you’re married?
@@YaYousef5dude so right. That data tells me stay away too much risk aha
@@andrewdixon681 😜🤣
@@YaYousef5if you think all you get from marriage is a lower tax rate you shall definitely not get married. Also, if you are thinking about divorce before you even got married, you shall not get married. And also if you think about splitting your shared wealth after marriage as loosing half, you shall, again, not get married in the first place 😉 I’m writing this as a married breadwinner with only my income in the family.
@@michaltakac673 I'll 100% not be getting married because I don't need to sign a paper and risk half of my assets and potentially years of alimony payments to love someone. That's fine if you want to take on that kind of risk or require a signed paper to love someone. It's bizarre to me.
I love the deep dive you did on the guy that gave terrible investing advice. So many blatant and very bold scammers and hacks thanks to social media
I had a pre-nup. During my divorce my attorney charged me $10,000 to do research to verify the pre-nup would stand up in court. The prenup did stand up in court. However, my now ex husband’s attorney pushed for his attorney’s fees to be paid from the prenup assets. Bottom line, nothing was left in the assets to honor the prenup which meant the prenup meant nothing but money paid to both have it made as well as to verify its validity
So the pre-nup is good for nothing then?
@@rem10921 I don’t know if making such a generalising statement is best when looking at only one anectodal example.
Alex Hormozi said it takes 20 hours to learn a musical instrument and another 20 hours to master it. I’d pay to see him try
That should be your next book: what is a prenup? How to discuss it with your partner. Remit's take on life.
I think some people don't understand that a prenup can actually protect relationships. If a divorce happens, and the guy loses half his business he built up himself, then sometimes not only could it ruin the business, but it could affect the overall income of what the business generated. Better communication could possibly be coming to a conclusion that if the relationship doesnt work out, to sign an agreement early on that the business owner could support the other person of some agreement/settlement. That would be how I would imagine it.
@@starlightwaters1 yeah im in the chapter about prenups in his book right now. Im purposely single forever so it doesnt pertain to me but I love psychology and money psych. he makes it really clear about why people don't understand its to protect relationships. he also said 98% or so of the population don't need them because people usually have the same amount of wealth when they start dating. its mainly for wealthy folks who had wealth previously before they met their partner
Ramit has an interview done by Tim Ferris (look for it here on TH-cam) where they talked a lot of prenups and his experience! It's amazing!!!
I'd buy this!
Video idea: your bad financial takes you use to have lol
LOL this is a great idea. I used to tell people spending money on 1-hour photo development was a "waste of money" and that we needed to "keep a budget." Wrong on both.
@@ramitsethicommenting so that the algorithm tells me when this video is out! lol
One more time in English?
@ramitsethi how did you understand what was said?
About time someone calls out all these financial guru click bait idiots
I love catching his videos freshly updated.
Loved the "in order to feel rich" commentary. Bang on my friend. Education is absolutely key to making financial decisions.
Since when has divorce been a 'rare' event? Especially for Americans.
Think he was being lowkey sarcastic for those who would get it while also suggesting that you shouldn't get married while already planning to expect a divorce.
That was great, more of these quick take reaction videos please. I’m curious what you think of The Budgetnista (I like her, I think you may have recommended her?) and “Your Rich BFF”. (Maybe also Graham Stephan, Romain Faure, Caleb Hammer)
Everyone should run the numbers on a house payment for THEIR finances and their LONG-TERM needs!
Houses definitely come with much more costs than the mortgage, BUT there are no current laws to protect renters from greedy landlords, and everyone does not have the salary to easily absorb an annual (in some areas, random) 7-15% increases on their rent, like a multi-millionaire.
Many places are rent-controlled?
@animalstylefry There are some housing options that are rent-controlled, but those are not the norm, and in areas where it may be more common, the properties are being turned into "market rate" housing whenever the owner has the very first opportunity.
I wouldn’t consider any income to be making someone rich. You’d feel rich if your income easily covers all your expenses and spending. If the income stopped you’d still be broke in 2 months.
Many people who have high income jobs lifestyle inflate to where they can't live their same lifestyle without without those jobs. Say you randomly get laid off (which happens more and more these days even to skilled people) well guess what? You are screwed until you fix your spending habits. A huge chunk of Americans who are millionaires live like they are hundred millionaires and then some of those hundred millionaires act like they are billionaires. It's a hedonistic treadmill that never ends.
Rx to Prenup-refusing lady:
Assuming the video is not just a skit, HE SHOULD NEVER MARRY HER.
- She is making it clear that she wants absolute rights to all his assets (w/out him having any rights to her's), regardless of how and when he acquired them.
- Her attitude about the prenup suggests that she is in the relationship partly or fully due to money.
- If she ever relents and signs one, she could use this video as evidence that she was coerced and pressured into signing it against her will.
Ultimately, that kind of an argument is not something you want to win and there are other women who will be willing to sign a reasonable prenup without causing such headaches.
💯
This is a good video very informative thanks
Such a great video - thanks Ramit
When you have as much money as Alex hormozi those small percentages make a big difference lol
I agree, I can't believe this guy doesn't know who that was!!! 😳
Yes this is so true
In the unlikely event of a water landing, .01% In the unlikely event of a divorce. 50%. Thats why a prenup.
I love your agro commentary “why don’t you learn to drive a fricken honda” 😂 every time you take on that aurora I get a kick out of it
So thankful for people like you Ramit, who are there to knock silly myths out the water. You've helped me SO MUCH, SO MUCH. and of course that so called "generational wealth tik toker" is selling a course/service lmao because even he cannot outperform the S&P...not even close. He's a wannabe Dan Lok..scammers. I FEEL rich already with a household income of £160k in London, UK.
Love your podcast and I recently bought your book on Amazon. I am loving it.
Glad you like it!
Ohhh i just love love love this video @Ramit!!! It's Edutainment as its best!!
I love the question about how much you need to be rich and people made it all about income. I love the philosophy that you CAN live your Rich Life with a "regular" income if you can manage to hit the % on fixed costs, etc. Ramit recommends.
Thank you Ramit! Please keep sharing more videos like this, since they help us open our minds and have perspectives on different financial topics. At the end each one of us is going to make their choices!
I wish to incorporate more of the psychological aspects to business’s finances! Any idea?? 🙏
More of these videos please. 😊
Never been this early; excited to see this new format!
how is "utilities" a phantom cost of home ownership when you would incur those if you were renting as well?
It’s saying I can afford that mortgage or rent, but then you’re not calculating the $200/month or whatever in addition to that
Lots of rents include those. I think it was a bad example but his point is that home ownership has a lot of additional costs that people do not factor when they decide to buy a home.
They absolutely are. Buy a bigger house requires more HVAC energy input, larger hot water heater.
Many rentals have utilities included.
I live in a rental appartment and our electricity is not included (every appartment in the building is metered). But our water is include, and so is the heat because we have those olds school radiators with hot water...
In the summer electricity bill is about $100-150/month (depending on how much we have to run the ACs), the rest of the yeat it's about $75.
If we owned..we owned anhouse we would be paying for the heat and the water too not just electric.
If we lived in a condo building, not sure how that works.. but there's the maintenance fees on top of the mortgage which I believe include the utilities? Not sure.
@@charles_cody This. A lot of people don’t consider the increased utility cost that comes with a large home or a house with a pool, etc.
I own a 1br condo that is about the same size as the apartment I previously rented, so I don’t really consider my utilities a phantom cost because they are the same as I would pay renting.
But I know many people who own SFHs and their utility bills are astronomically more than mine.
>just invest in the top 10 of the S&P500 bro.
>Lets take a quick squizz at the top 10 from the 80s
>Oh.......
😂
Nvidia has paid me well so far. Just diversify I would say
@@brock5946 that's great, however it's impossible to know whether or not Nvidia will continue to be a great buy over the next 10, 20, 30 years.
My original post points this out. Pretty much all of the top 10 S&P500 companies from the 80s are no longer in the top 10 or have become low performers
Why take such a massive risk when you can beat 90% of investors and get solid performance, at much less risk?
It's not as bad as you think. The top 10 of the S&P 500 in 1994 have returned 6.8% over the past 30 years, compared to the 8.7% returned by the S&P 500. Still a difference of $50k on a $10k investment in 1994 ($120k vs $70k), but you still would have had pretty strong returns.
Great video. Bought your book on Kindle just now :)
annnnd this is why I watch you 🎉 thank you for the info
Great video!
A prenup doesn’t have to be I get 100% you get 0%. You want your partner to know that they won’t be out on the street with nothing if you divorce. Also someone asking for the prenup should offer to pay for a lawyer for their spouse so they’re equally represented. If you don’t want them to have their own legal advice and you want them to get 0%, then you shouldn’t be marrying that person.
If you aren't careful to ensure the split is equitable in your prenup, you risk getting parts of the contract nullified (throwing out the whole prenup is pretty rare). If you are married to someone who is a stay at home parent and try to enforce a prenup without sufficient spousal support, that is very unlikely to hold up in court.
This still boggles my mind to this day. Why the hell should someone get 50% of your net worth just because they said I do, and don't have to sleep with you to get it? Then they should take on half your debt too.
Exactly!!
@@fml5910 don’t get married then.
I have a problem where I see that I'm making much more than the median household income in my city, but I absolutely don't feel like I'm getting ahead, even though I am. The solution is understanding that, over time, I'll see the difference more and more.
It can be tough if you are middle class and being responsible with your money because you are likely sacrificing significantly compared to your peers. Two households making $125k/yr with one maxing out two 401ks and the other only investing enough for the company match have over a 2k difference in spending money each month. While one household can probably retire a decade earlier than the other, that $2k per year can pay for much better vacations, date nights, hobbies, housing, and cars.
I can't believe I'm watching Ramit shitting on someone and their website. Amazing
The roasts are perfect 😂
The biggest thing about rich in the Bay Area is it boils down to wether you own your house or not, cause you may have made a lot of bad decisions over the years financially but you entered the market in a crappier city in the Bay at the right time in the 1980s or 1990s and your property now is worth over a million, so on paper you seem rich.
Fun video with the reactions!
Thank you for your videos! Do you think you could make a video on how to budget as a teenage with no real fixed costs at the moment.
I was waiting for you to comment on Robert Kiyosaki's video it was on your thumbnail 😅
Your input regarding a prenup is very insightful. 10:29
This is as much a great expo on rhetoric that it is a critique of financial advice on TikTok
Thanks 🙏🏾
I love this content- so normal and common sense! That being said- you’ve said “investments” should be from take home pay but 401(k) is pre tax- can you please discuss a CSP model with that in mind (or point to a video that includes such a revised model)?
You are the best :D hahhah worth all the swearing
Love this! Please remember to give credit to the original posters of the video examples you use.
Europe and Brazil only uses prenup regarding child support because standard marital regime is Partial Property Rule, but you can opt for Separate or Community.
In Sweden you have to pay 15% of the total cost up front or you can’t buy it. Then you have to pay 2% on the total loan every year until you get to 70% of the house value. After that it’s 1% until 50%. After that you aren’t mandated to pay in the loan at all if you don’t want to. My current interest is 4,37%.
How is her home insurance only $27? Like...wtf?
Condo insurance is lower typically. She may be in a townhome, condo, or association home community.
I don’t have a prenup, it’s not common where I live but also I had nothing before meeting my now wife. Sure I earned more than her over the years but she definitely made sacrifices for me to do so and was willing to uproot her life when I considered relocating for work. We saved for a house together and bought it before marriage.
While I agree some people have assets before meeting which may warrant one I think earnings while you’re together are somewhat shared even if not legally, both people in a relationship make sacrifices for the other persons career sometimes one side more than others.
I have a friend who had a business and a house before he got married. They got a prenup and his fiance happily signed it. Still married 25 years later. Another friends daughter and husband got a prenup, not for money, but in case of divorce. Neither really had money at the time, but their prenup was more about if they divorce, who gets the kids (if they have any), the dog, the furniture etc. Still married 15 years later. Anyone who is "offended" by a prenup is suspect.
Have learnt so much from your content, one thing I do disagree with though is that having your money double every year is a safe investment....when inflation is high (I'm talking M2 money supply, not CPI Inflation, which is a botched number), doubling you money every 7-10 years isn't enough to keep up with the increase in M2, and this will only get worse as debt to GDP grows......
or you could go to Las Vegas and play roulette and double your money in under an hour 😂 That guy is an investing fool.
Yah exactly, you can easily double your money in the stock market, but it’s even easier to just lose all of it. TikTok “investing” is more akin to just modern day gambling.
Yes! I read your e-book through my library for free!
Great! I love public libraries. Glad you got my book there
That is also what makes condos interesting: less "phantom" costs overall.
I am living in San Jose, CA. All single family homes in San Jose are over $1M, but they all are very old. Will spend a lot of $ for repair. If I don’t have $1M cash, I never want to think about buying a house. I hate debt.
Why do you have 2 last names
@@johnle231 My first name is Le.
@@LeNguyen-im8dm is Le a common first Vietnamese name? I think you’re the first I seen with Le as a first name
@@johnle231 Le is not common first name. I was born and grew up in Viet Nam for ~23 years. I only met one female and one male who had first name Le at my schools while living in VN. Have been living in the U.S for 15 years, I haven’t met anyone who has first name Le. My dad named me as Le since I was born.
@@LeNguyen-im8dm
Ah ok thank you. I wasn’t sure since I’m Americanized Vietnamese born here in the states haha..
Did you move straight to San Jose from Vietnam?
I agree prenups are fantastic
Why ramit is great is he constantly speaks about the emotional factor with money.
Investing is not an exact science like people assume. Would highly recommend reading psychology of money. Similar to ramits advice
You still need to pay utilities when you rent. Also, you should if your smart have insurance.
Utilities are included in housing costs, both in rented and owned houses
Have to disagree with the black couple. She wasn't thinking like you. She really means everything is hers. That man should run.
I was waiting for someone to comment on her. She comes across as a gold digger! He is a fool if he marries her.
@@anjalianthony1656 he probably married her
I disagree with them as well but also disagree with you. Neither person was thinking like Ramit. The guy was always "my lawyer" and then making it sound like the woman is a gold digger. The woman definitely reacted to that and didn't want to hear anything he wanted to say. If it was a logical discussion as Ramit suggests, it should have gone very differently. Also there's the aspect of most people not understanding what prenups really are and how customisable they are.
@krisq9252 never said she was a gold digger. Saying she feels entitled. I don't know if the guy is rich.
Yes! Paying new truck prices is nuts! They lose resell value quickly! I paid 40K for my new truck 20years. Was able to get a much nicer truck this year for 45K and it’s only 4 years old. It was a private seller and had a ton of bells and whistles that would be 100K new. Paid cash, so he was willing to sell quickly. FYI Never buy used without an inspection. It’s worth every dollar!
Rx 2 to Prenup-refusing lady:
I think Rameet brought up some valid points, but I think the discussion about prenups and clear deliniation of assets should have happened long before proposing to the women.
- If you notice that the relationship is getting serious and likely headed towards the Alter, and if a Prenup is a redline for you
- Then you should start discussing it (and potentially sign a preliminary one) prior to you ever proposing to her.
- It would prevent the two of you from being at an impasse after she has already said Yes to you and it would keep her from claiming that she only agreed to it because she was put at risk of embarrassment, if she didn't sign one.
"Phantom costs" owning a house. Well, of course! In renting, do you believe the landlord simply takes care of maintenance, taxes... etc out of the goodness of his/her heart? It's all baked into the rent (plus a profit). If the landlord's costs go up, then rent increases. I completely agree with assessing the cost of ownership, prior to purchasing. But, I feel that owning is a good thing, if you have done your financial homework.
The landlord can't simply pass along their costs. They can charge what the market will bear. Sometimes that generates a profit, other times not, and often the landlord doesn't even know his/her own costs.
Ramit, please do a video on how you keep your facial hair looking so good.
When I think of mortgage payments, it usually includes an escrow amount, which includes the home insurance and property tax (I fortunately do not have PMI). Is that not how it works nationally?
It does when you actually get the payment, and if your lender gives you good information before you buy. When I was buying my house, my lender gave me an estimated breakdown of the costs of my specific property that would make up my total housing payment - HOA, insurance estimate, PMI, etc. - before I made an offer and purchased the property. A lot of simple mortgage calculators don't factor in those costs when figuring payments, they only use the base payment plus interest. Ramit had someone on one of his shows that didn't have HOA factored into their housing payment (they were in a condo), so their housing was massively unaffordable by the time they figured it out.
Love it when he gets mad.
There was a canadian show called till debt do us part. The hosts rule was home maintenance/ upgrade costs should be budgeted at 1-4% annually of the homes value. New homes leaning to the 1 and older to the 4.
My home is work 600k 4 years ago we had to replace our hvac that was 14000 and fits well inside that 1-4% you might go 5 years without a major repair but then sink 50k into a new kitchen and bathroom well that will probably be the 5 years worth of 4%
YUP!
Patrick Bett-David says a prenup should break out: my money, your money & our money.......puts it into buckets and takes out the emotions!
Prenups are necessary in today's culture where large assets are at stake. When divorce was illegal, or the state wasn't involved in dividing assets unfairly it didn't matter as much.
This has been insightful…….and similar family values is very very important for marriage
This awesome. Love watching these. I think you took Alex Hormozi out of context though. He runs a PE shop. He was talking about multi-millions of dollars. FDIC insurance isn't going to cover that. Better to trade into bonds to get the extra amount of interest and more security.
I don't think Alex Hormozi's audience are Millionaires, so Ramit was clarifying how to think about it for regular people!!
In some states, premarital property remains the property of the individual bringing it to the marriage in the case of a divorce. It’s called the Communjty Property Approach!
1 thing about owning is your costs should never go up. I bought 11 years ago. I could not afford rent or a mortgage in the city if I hadn’t purchased back then.
Assuming I’m saving for a down payment in CANADA I’m putting it into a high interest etf which may not be protected by the CDIC but considering the significant more money needed the interest is much more substantial compared to let’s say 10000. That said! The advice i give is usually to keep it even more simple considering most people have a hard time to save
I relaxed when you started swearing 😂😂😂
3:08 Also the 15% that do beat the market usually don’t do it two years in a row.
i sell covered calls weekly, and out perform it via premiums! :D
HahHah I like this genuine reaction....MOREEE
this was a good video
“In the unlikely event of divorce…”. 🤣🤣🤣🤣🤣
As Eminem said, a visionary a vision is scary
During a gold rush, be the guy selling shovels
Phantom Cost: you pay rent the rest of your life and pay your landlords investment for 30 years .. and you get 0 at age 65 😂😂😂😂
What happens if you invest the difference between renting and owning?
@@ramitsethi - you still don't own a home 30 years from now and raised a family with uncertainty of rent hikes, changing schools, moving cost and you still need to live in something into retirement. Based on the housing market in the US since the 1980s, its not gonna be much cheaper to live in a major metro area in 2054.
Can you show me your rent vs buy calculation? Even a simple screenshot will work.
Hey, this is a really great channel....I just came across this and clicked on your video about buying vs renting. It's too bad your channel name (even though I see it's named after your book) sounds kind of click bait-y. In any case, the content is awesome and I really enjoy your presentation style. Subscribed and will recommend.
Thanks for watching
50% increase in phantom costs. That is an awesome rule of thumb!
If you are thinking about a “Pre nup” then you are not sure about the marriage. Two become one.
If the bank has a higher intrest rate than investments, is this not also an investment?
swear it off ramit ! i enjoyed this video
My gross income in 2023 was $700,000.00; my real net worth (absolutely zero debt) is well into 8 figures. I live in the San Francisco Bay Area. I still feel poor!!