How Much Money You Need To Save By EVERY AGE
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- เผยแพร่เมื่อ 23 เม.ย. 2023
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I had $25k saved up debt free by 25 but I got sick at 25 and had to use all that money on doctor visits/tests/medicine. Now I have to start back from 0, it sucks so bad but I’m glad to still be here and I’ll keep grinding to build my wealth back up. It’s gonna take me a while but I’m not giving up.
No insurance?
Insurance maxes out so fast. I have insurance, but one dental emergency set me back $6k. Overnight expenses like that are impossible to overcome with a low income (I’m in graduate school).
Hey, at least u are not in the negatives. If u didnt have that money, you'd be in deep water. At least you didnt take out loans with high apy% eating u away.
I’m also glad you’re still here.
should have just taken it on loans and filed bankruptcy
I'm 27 and I just started a decent paying job last year. So far I have 10k in savings in a high yield account, and I also started my 401k. Being financially responsible really makes a difference.
Make sure to fund a Roth ira as much as you can
@@ginaruff2867 Totally agree, Roth IRAs are great for younger people. Try and put as much as you can in, and if you have enough fill it to the yearly contribution cap (6500 this year). But before you do make sure you have enough cash on hand for your emergency fund. Smart keeping it in a High yield account!
till u get MARRIED and lose half :)
@@ginaruff2867😊😊😊
@gonzalescarloz A lil late but aside from maxing your Roth IRA dont forget you can also put money into CDs and Bonds if you want to play it safe. Just look under “fixed income” when you invest. Yields are anywhere between 4%-7% compounded interest if you want to earn a little more safely.
24 years old, extremely glad I’m getting into this now, from 18-23 I have made some poor financial decisions 😂
😅😂for sure
Same 😅
I'll be 41 on May 23. You're way ahead of me at your age. Right now, my savings is only 20k.
24 years young, glad you've already realized!
There are very few who made good financial decisions between the ages of 18-23. Keep on plan going forward and you'll be fine.
I was very lucky that my father-in-law suggested maxing out Roth IRAs in our 20s with extra cashflow; it’s near criminal that this isn’t taught in public school
100%
They taught it in my school and everywhere in my area.
It's a blessing from God. I so happened to stumble upon Dave Ramsey earlier this year before turning 20. I was able to set up my budget, max out my Roth IRA, keep my emergency fund, ect... When I'm 60, I can live and give like no one else!
I started at 33 so basically I'm going to die poor. It's too late for me
This place wants slaves until you're done
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
@Rebecca This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant and everything changed. In in the first quarter of this year i made $370k and counting.
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?
Cant reveal much here, [Colleen Rose Mccaffery] oversees my portfolio, and I recommend researching her credentials on the net, she's well established.
@@silkeschulz5754 Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 20 years of experience is certainly striking! very much appreciate it
I wish i would have seen this video 20 years ago. I’m 42 now, so I’m having a late start at fixing my finances…but better late than never 😊 Thanks!
Same boat
Same here, I'm 45. We will be fine
I once read that a mans peak earning potential is between 40-60 years,it is not going to be the same for everyone, this is a generalization..by that measure,you are at a perfect age..I am 42 too,I only realized that I should invest my money at the age of 39 years..the last 3 years have been very good for me..all the best..educate yourself financially and take calculated risks..you will succeed
Same… we’re 41 & 43 at it
39 here, yeah wish i started at 19.
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
@@fresnaygermain8180 Please let me know the name of the investment consultant you work with and, if possible, how I can contact them.
@@bernisejedeon5888 My advisor "Julia ann finnicum", is a highly respected financial consultant in the industry. For further information or to connect with her, a simple online search with her name will suffice. I wish you every success in your endeavors
It’s vital you make sure to Keep this in your back of mind guys. There are both happy and unhappy days. It's a zero-sum game, but always remember this advice: Spend carefully, invest intelligently, and diversify your holdings so that when one performs poorly, the others will. You can do this by hiring a knowledgeable specialist whose platform offers a variety of investment options. You leave little space for regrets by doing this, and you might even gain more.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
Big moving stochastics are not the secret to high returns. It involves controlling risk in relation to reward. Putting on the proper size and spinning your edge as many times as required to achieve your objective. That is valid for both day trading and long-term investments......
@@AstaKristjan I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns.
@@Erinmills98 Who is your financial coach, do you mind hooking me up?
@@simonbad Avery Barnes Whidden, she was in the news when she revived Grumac in 2018. You can look her up online, there isn’t much I can say here so it doesn’t seem as if i am promoting an agenda.
@@Erinmills98 I did check her out, I see why you said she's probably booked up, her creds/resumé is topnotch. I booked a consultation with her regardless...
I’m 26 (27 in Nov), and had 15k in savings in 5% APY account. That 15k has dropped to 5k due to major car problems, killing ALL consumer debt, and career changing. It’s bittersweet but having that money ready was a great feeling.
So far so good.
25 with 140K in securities, no debt, paid off car. Once I get my housing figured out, I’m on a great path.
Wait till you have kids😅
@@timchan334 Probably gonna wait till I’m in my 40’s. Will probably move overseas too.
@@nicholasgandhi6504 yikes
@@nicholasgandhi6504you plan on getting a wife a decade younger 😵💫😂 women can’t have kids at 40 bro
@@JustBeelo mid 20’s G 🤣🤣
Currently working overseas but will return to my home country in the near future. I'm a landlord. I invested in property at the age of 22. Value has soared and renting out. Will live on the rental income I receive and live with my aging parents for the time being. At 60 I can withdrawal from my superannuation (401(k)). Have savings and eligible for the Australian pension at 63. In the future I may downsize, sell the property and buy cheaper property and add the left over money from the sale to savings. Lots of options for me. The way I see it if you have $1m at some point, that’d be enough to create a portfolio that would pay you between 50k-70k in dividend income.
I've been saying the same thing for years as you age time gains value and money loses value. I retired at 62 and moved to the Philippines after I recovered from a work place injury. No stress, no rent/mortgage/debt, cheap to live here, eating healthier and the wife here treats me like gold. It doesn't just depend on saving, To optimize financial outcomes, individuals can seek guidance from a qualified financial advisor who can provide tailored advice and strategies to minimize expenses and maximize income.
I completely agree; I'm 60 years old, recently retired, and have roughly $1,250,000 in outside retirement funds. I have no debt and very little money in retirement funds compared to the total value of my portfolio over the last three years. To be honest, the Fin-advisor's can only be neglected, not rejected. Simply conduct study to identify a reliable one.
This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?
Her name is “CHRISTINE ANN PODGORNY”. I got heard about her from my wife. She was handling her invt effectively, and she's been doing same for me.
Thank you for the lead. I looked her up, and I have sent her an email. I hope she gets back to me soon.
I’m 29 years old and have been aggressively saving over 50% of my income for the last 5 years. I drive a beat up Honda with over 270,000 miles on it. At the rate I’m going I should be able to retire by the age of 40, just have to keep on track.
where are you investing the savings?
@@herbankiddIf anything his savings should be in HYSA or a high yield CD.
@@herbankidd Vanguard ETFs
@@adam_clown *in broad market ETFs
Careful with saving too much money unnecessarily, the car could brake at some point and cause death, making your savings meaninglessness. Drive safe out there and invest in yourself properly. I have the same mindset, but after buying a new car, I feel relieved since my 2006 Nissian Altima with 160k felt like driving a bomb.
I started saving and investing in 1989 at the age of 20... my father forced me to start. I love that man today!!!
I am 54 today and have 2.2 million in my retirement account, 135k liquid and I trade securities with 50-55k
That’s a good dad! 👏🏼👏🏼👏🏼
@@Aurumfae Indeed, thank you. I have done the same to my 27 yr old son.
How much of your income did yoy save per paycheck
@Daniel Well 80% while living at home, joined the military and earned my real estate license. All income from real estate went to investments and savings. On average 30-40% over 25+ years. I also have my military retirement, rated 100% VA.
you guys had unfair advantage back in the day. houses were cheaper, education was much less expensive, even if you adjust salaries to back to relative levels.
I'm definitely an outlier, have $600k in CASH, no 401k, etc, no debt. I love when online banks pay 5% interest, the interest pays all my monthly bills.
I wish I had that right now. It'll change my life. That's great 👍🏾
So helpful! With so many financial experts throwing around arbitrary numbers, your clear, concise guideposts take all the unneeded stress out of the game.🙂
These are averages. I would aim to double these numbers to be safe.
I’m 36 and wife 37 with current net worth of ~$1.1 mil. 6 years ago, we had 70k student loan, 25k car loans, 15k personal loan, 10k+ credit cards. Road to wealth started by paying all these black holes. We’re fortunate enough to make 6fig incomes but we also live in CA where EVERYTHING is expensive. It’s going to be painful getting started but once you see the debt actually going down, it becomes addicting! Best of luck to everyone with your financial journey!
im guessing you both had huge income events to get to 1.1M from the negative in 6 years?
Thank you for this video! Turning 40 this year, and my hubby and I just started preparing for retirement last year.
This video is going to all my kids for sure!
Definitely agree with working toward promotion goals. I would make sure to overshoot these median numbers to account for inflation. I am constantly working to increase my contribution rates. A few times a year I will make adjustments to my portfolio.
Good to know at 19 with 10k in savings I’m doing good 😂. Social media can definitely be toxic and make you feel like you’re behind but just keep doing your best and never give up. I hope everyone here succeeds and accomplishes their dreams including my self 🙏
I was 27 with 10k in savings so you’re doing well! 31, married, and net worth combined $275k net worth. Good thing you’re starting early!
It's food costs that is killing me. And I cut back on eating.
This was soul crushing, but at least I can still try turning thinks around. Thank you; I needed to hear this.
Love your clear and concise tips. Thank you for sharing. Here's to wealth building!
Great video, love your tone and presentation. Not condescending, but helpful, practical, and constructive
Building good spending habits is easily the most important rule here. Take any unnecessary expense you have each month and multiply that by 12x and again by 15x (if you're 40 years from retirement), the first # is how much you don't invest this year and the second # is how much you don't in at least 40 years (assuming a 7% growth rate). Weed, beer, games, sports betting, clothes, shoes, w/e it is it adds up after awhile and sometimes looking at the 40 year cost of somethings makes you stop doing it.
Yeah this is key.
I love that weed was the first item on your list lmao
Doesn’t mean you can’t have fun. Don’t forget to live life.
I want to thank You for all the valuable videos! I began investing at the age of 35, primarily utilizing my hard work, dedication and with the assistance of my financial advisor, Christy Val D'souza. Now at the age of 48, I am delighted to say that my retirement income has grown enough to take me through my later days in life. So don't hesitate to take action when you can. Remember, it's not about achieving wealth quickly, but rather about building wealth consistently and persistently.
Yes, just as I said, *CHRISTY VALLEN D'SOUZA* is the best stockbroker, investment portfolio manager and financial advisor I know. This is because I have tested her services firsthand. She has never failed me or anyone I recommended to her. She is very trustworthy.
look up her complete name on the web, confirm her details and get in touch with her.
Animation with captions and graphics is a great style for communicating with your audience. New and refreshing for such an important topic!
Thank you for your information! I'll show this video to my sons 👍
This is the video I that I needed as a 24 year old.
This strategy has been around since the beginning of time. Most of us simply didn't listen.
@@joeashbubemmakey word, listen
You would not have listened 😅
You are the uncle/older brother sharing financial literacy that we all need, thank you!
No. Better financial literacy educators out there, look at Rob Berger (youtube), The Money Guy Show (youtube), and PlanVision Podcast (on its own website).
Most of Brian's financial advice is dangerous advice, don't take it at face value.
Brian, wow! You read my mind. I was thinking about this topic the other day. Terrific content as usual!
Brian thank you very much for this helpful information..I wish I had done this sooner but will definitely start this..thank you
Absolutely great video and one of your best! You covered pretty much the full spectrum in a brief, powerful and concise format. Well done! Now just need you to make the same video in a pre-teen/teenager format :)
I'm 39, 401k with over 500k, net worth 660k, no college degree, no student loan debt. Public servant. Not rich, just middle class. Didn't have a car note till I was 34.
married or kids?
@elleranon yes
When did u start your 401k
@@krisevans4379 2007
@@krisevans4379 and I'm at 700k 401k now, the Biden years have been good
Every good piece of advice and detailed to the molecules. Thank you for sharing.
Thank you Brian, man where were these videos when I was coming up now knocking on the door of 60. Man this is so good to hear, sending it to my sons now.. Again you are to be commended on your efforts to bring the best content to us.. Thanks and I know it is not to late..
I’m 34 and my wife is 30. Our net worth is 2.5 million. Our household income has been 300k/yr for the last 8 years both working in the oil field. Now she’s retired with our new baby and I’ll retire at 40. Get your income up folks even if it means working shift work and overtime. Then make sure to invest half!
I'll never be able to retire. I'm not even close to those amounts and I'm 60.
I appreciate the helpful visuals that go along with the information. It seems to stick better than just watching someone talk.
Thanks. Just found your channel and subscribed. In some areas I'm way behind and some areas I'm way ahead. I'm 47 years old. Looking forward to financial education
Most Americans don’t even have $1,000 in savings but I’m reading all of these posts about people who are acting like they do😂
They may not be lying. This comment section is likely the very small percentage of individuals who actually care and are responsible with their finances
I don’t have $1k in savings b/c of things called brokerage accounts.
@@kevinbiketour1 so you'll be sitting dry when buying opportunities come
@@natefreeman1466 o😅😅
@@natefreeman1466 Good point but when you go look at their pages it doesn’t reflect that. Only a few were into crypto and watching videos on financial literacy. However they were posting about all of this imaginary money but their history shows they’re watching girls in the gym or cat/dog videos.
Thanks again so much for your encouragement! in my early 60s and haven't been so diligent, I've listened and followed your advice for the last 3 years and you have helped alot! I'll be sending this to my children and grandchildren
I always appreciate your advice. Thank you for your contributions.
Love the new infographic Brian :D Keep it up! *Long time fan*
27 here
-£8k emergency
- .25 Bitcoin (around £6200)
- £4K in vanguard lifestrategy
- £6100 in physical gold and silver
- £80k left on mortgage
All this on a very average UK salary 👍🏽
Had a bunch of issues in my early 40's...2 kids and zero financial understanding. Now, in my 50's, this video will serve as a steering point for the kids to go by. I wish i could go back in time and explain to my parents how to invest, they died with basically nothing, even after a life of work. I intend to not make those same mistakes. I am hammering into my kids heads that compound growth, avoiding debt, and saving/investing now will help them as they grow.
Watch them have kids early than you
You can do it !
One of the keys is to have a separate bank account that you never withdraw from. You deposit something in it every week; even if it's only $10 or $20. If all your money is in the same account; it is so easy to withdraw from it and then not save much. Money makes money so the earlier people start the better. Many people never get started so starting in your 50's is fine.
@@888strummer excellent point this actually works . Same for business different accounts for different things ..
Don't forget good debt can make you rich if used wisely.
Great stuff. Not mentioned was the Health Savings Account and folks should take advantage of the triple tax deduction when enrolled in a high deductible health plan. Everyone gets sick, so HSAs offer an additional annual savings nest egg of $3850 to $7750, or more for those over age 55 with similar opportunities for investment compounding like IRA’s and 401ks. Great way to diversify risk because withdrawals from the HSA are penalty and tax free when made for medical emergencies, wellness checkups, orthodontics, etc.
I do love your content sir ! And always you are so in track and accurate! How this one it’s so focus on a very or externally small group of American ! Me as a Hispanic living the america dream ( I do mean it ) I know for sure this range are extremely far away for at least 90% of American! Plus just being truthful we just get out of a world pandemic plus recessions comming really hard, inflation it’s eating alive our saving or investment and finally purchasing powers keep going down, are really unrealistic escenarios for achieved this goals for the majority of people ! Forgetttttttt about other third world countries this is out of any possibility or reality !!
gg
Became the Head of household taking care of my aging parents on early 20' and there goes my budget and savings out the window !!!
I'm a believer that you must honor your parents. You will be rewarded
Save your change. It adds up.
That is a very hornarable act. An act like that is imediatly rewarded in your charcter, something that is worth much more than money
Hang in there Our parents always taught us to look after our own retirement before your kids needs. Dad had a stroke and we kept him in his home for about 17 years. Worn out, we finally put him in a nursing home. It took 4 firemen and myself to get him loaded up (He was like a caged animal). He starved himself out in 30 days in the nursing home. He was a tough character.
Apply for every form of financial aid you can think of, food stamps, healthcare, tax breaks, get in good with the counsel on aging and other geriatric services. They may qualify for a visiting nurse once or twice per month. Many assume this is a burden they have to take on alone just because no one is informing them of their options.
One thing I did that helped me in my 20s to save was think about my future family. I would think to myself “you know one day our family may need this”. I did this before I even had a girlfriend. It helps fuel that drive to do the right thing with money.
Thank you so much! I sent this to my daughters hoping they don’t procrastinate as I have done.
Its interesting to see where others are at in life. I just turned 23 and moved back in with my parents grateful and will take full advantage to save my income. Still trying to figure out life and tighten up my plan for the future. Good luck to all those watching this video, we’re all here for a common reason
Real person here. Thank you for being awesome! I really appreciate your channel, insight, and expertise.
Thank you for all the support Mr Hamlet!
I think the real answer is just save as much as possible while still enjoying life to an extent and then when you've got a rock solid foundation and investments generating passive income you can ease off if you want to and splurge on yourself or your family.
I like that you specified its for households since many sources always miss-quote the statistic and people think it is individual numbers
Great video with great details. Would be an able to create a video with a detail budget.Thanks again!
Great video! One thing I wish you mentioned is how much of a difference compound interest can add up from investing in your 20s vs 30s
Was thinking the same thing. As much as people in their 20’s have no savings if their parents could help kickstart that savings to compound would make a massive difference in the future.
@@sharinglungs3226 people in their 20s don’t have saving because they are spending it…. That is why it should be emphasized
19000 views and a sad amount of likes?
I boggles my mind why more people don't smash the like button for Brian.
His content deserves it! 👍
Happy Monday, Brian! Hope you had a great weekend, and thank you for this video! 😬😁🫡
34, and sitting above the median net worth. Not by a huge amount, but about double. That's cool. Didn't get my act together until I was 32 and got sober, either. So, this is good news. Hoping to have well over a million by retirement.
That’s the hope we need as ALREADY 30 year olds.
It’s very hard to save in your 30s as well. You are now making money, but you have way more bills. Student loans, mortgage, childcare, car. There isn’t much left after that.
The messy middle
39 and just happy to keep my head above water - conventional employment wasn’t something I could handle and when i rely on it something out of my hands would happen. Ive got a lot skills n enjoy a simple life
Literally just got a job offer so this is good timing for me. Thanks due!
I'm 32 and started with Dave Ramsey at first. Paid all debt off by 28, saved our 6 months emergency fund and been investing 20% between our Roth, 401k, and investments. We have a combined net worth of over $200k. The biggest thing that worked was increasing our income and working side jobs that pay my mortgage off quickly. Highly recommend a strong budget and automatic withdraws of the Investments. Plan to retire at 55 and enjoy our older age.
Dang u (humbly) made my day… I’m a single dad from a low income state, in my 40’s, high school education and according to ur calculations my net worth is somewhere near a 70 year olds! Combining a budget early on, consist 401k contributions, some real estate investments, and reading every book on the stock market possible. Score! Imma treat myself to dinner!
Thank you for the informative videos. Your explanations are thorough and clear. I feel like your opinions are honest and based in reality. Thank you very much.
Thank you so much definitely going to use this
I love this video. Some may feel that it's too late but remember that it's never too late. The best way to get going on saving is to start.
Great video, 27 year old here. Trying to build wealth and diversify assets. I tend to have less than 10% each check available to save because I’m always investing. It’s a dynamic that needs balance but I believe that we should invest more when we are younger
I started out with EE series bonds, and then CDs and did very well. Now CDs are getting popular again with very good rates.
Brian, what's your opinion on buying gold and silver for saving or investing. Also, what other investments are similar to gold and silver?
I wish everybody the best on the financial journey! Do not let society make you crazy! Focus on yourself!
I'm past this point and there are many good tips in this. However many people are living pay check to pay check. If two of those checks don't arrive a person has a real chance of being homeless. So while this is a great post for many it's impossible for a large group of people.
I travel from my 20-40. I not good at saving but I have put in my 401k with my part time in the private sector. I have a define pension plan with my locality w/ compounded cola but putting into my deferred comp 457 plan. I don’t have any regrets.
Good stuff, HSAs if offered is a great investment mechanism as well for tax advantages.
Most Americans have less than 1k in savings and no emergency fund...so if your behind, your not alone...if you are watching this it means you likely are better off than you think already. Sometimes, just starting to make a change is a substantial win, there are no short cuts to getting rich and staying rich, it is an uphill climb, and that is why 90% never start. Don't be the 90%
So thankful that I found out about financial education while still living with my mom at 18 so I have time to save before I fully go Into the real world. I’m saving/ investing about 50-60% of my income right now
Great presentation.👌🏿👍🏿 Currently work on building my investments in REITs & Fuel Cell Energy div stock.
Amazing content once again. At 28 I’m glad I’m in the 30-34 age group. I have 10 month old son and a stay at home mom (for now) that’s all I have to say. Any questions reach out. I am located in Los Angeles, CA
I wish had done this 25 years ago..
I'm 45 and trying to save 25%.
Thank you Brian! Will be coming into my 30s very soon and out of unexpected life events/poor financial literacy a few years ago, but have been working on discipline to set myself up for the future! Looking forward to educating myself and seeing more of your videos!
Awesome! Good luck!
I just the JAR Money Management system since I was 23. Now 37.
Put 25 to 40% away for just in case annual tax.
From there break it down like this.
55% in necessities
10% in investment
10% in education
10% in long term saving
10% in play/enjoyment
5% in give
Worked well so far for me.
great video again Brian, thank you very much! keep it up
The sooner you owe nothing(have no debt), the better off you will be.
First thing you need to do is to develop discipline. !
If you don’t want to work for anyone it’s simple. Do whatever it takes to own a duplex or two properties. Live in one unit and rent the other. Sell something or grow something for spending money but have your tenant pay your mortgage so by the time you retire your mortgage is zero and you can live off your tenant money throughout your life :)
Literally a friend told me about this exact thing and now I’ve been thinking about doing it
The issue is having the money to cover both mortgages when you don’t have tenants
@@RavensTheNextDynasty that’s the risk of freedom. Better to try it and restart then never attempt iy
@@RavensTheNextDynasty Yeah not to mention many view housing as a basic need so they don't make sure they outpace expenses in order to win over time.
Are you a landlord? I’m guessing no. After being involved in residential real estate for decades, I’m here to advise you to think this through in more detail than you have. There are so many factors you are not taking into consideration.
All those people online telling you it’s easy to make money in real estate - - - they’re lying. If they were right, they wouldn’t be hustling you. They would be quietly raking in their dough and enjoying their luxury lives.
Yes, it can be somewhat profitable, but you need diversification.
I make 120k in Atlanta I’m 26 no debt but I was spending so much money on god knows. I did a budgeting plan and now I have more money saved than ever before. Great video.
Thank you for this I am a CFP and i send this video to my clients children and grandkids :)
This is a video for all young ages💯💯🤧 thx Brian
Great video! I've also heard that not delaying taking social security benefits and then invest it yourself is an option for a better return. Also it depends on your tax bracket if you will end up getting taxed more or less depending on the total from all sources of income, including 401k, etc.
Can you provide some numbers for people who live in California or other states that require more savings in order to retire?
I love this video and shared with some people that need to learn.
In Canada TFSA is the same as Roth IRA, RRSP is the same as 401k.
This is the second time watching your video..good one. Anyway, I’m a dividend investor but it’s a slow and steady growth. I’m 39 with a $300k portfolio and plan to retire at 60. My goal is to reach 2 million by then...I repositioned some of my dividend stocks using my broker James Fletcher Brennan. Now, I’m buying fractional shares of TSLA, AMC ,NIO ,NVR again. Before I was after dividends for passive income but it’s slow growth so i took my chances on high growth stocks and I've gotten a 120% increase this year but hopefully I’ll reach a million sooner
Nobody knows everything, You need to manage risk, and stick to your broker’s plan through thick or thin, While also continuously learning from mistakes and improving. I also hope to trade with the big dogs soon
he really seems to know his stuff. I also found his online page and read through his resume, educational background, qualifications and it was really impressive. he is a fiduciary who will act in my best interest. So, I booked a session with him
I had to Google to be sure, he has a great resume
i'm happy there are lots of people doing so well...Love this channel for the transparency
I know people are gonna say this is a boring video but by all means he is exactly right on how things are. If you force yourself to put aside money then you see less play money on the side and will be less tempted to go over budget. Kudos
Not a chance, but thanks for the heads up. I’m pretty screwed in my retirement !!
I wish I had this knowledge you're giving when I was growing up. Back in the 90s/00s, I didn't get this info.
I made all the mistakes in my 20s. But it drove me to be as financially stable as possible now that I am in my early 30s.
Yeah me too. I had credit card debt and it was managable early so went rice and beans mode and paid it all off. And now we don't miss eatin out anymore hahaha.
Me too still haven’t got a break. Lots of education but haven’t had a salary over 50k in my mid thirties and expenses keep rising… 1400 gross pay is pretty tough in todays world. I’m ready to just be poor so I can get assistance smh
@@AI_EmeraldApple I literally just ate lime rice and black beans. Got to switch it up often it gets old. Cheapest meal 2.50 a meal
@@Vincedaprince1 We also bought a lot of and still buy costco chicken. 4.99 for a whole cooked chicken that lasts for many meals is not only a time saver, but saves money when you crave meat
That's good, you still have three decades to work and get ahead. Keep it up and remember those lessons
i felt so much better after watch this video because i thought everyone should be a millionaire at age 30
Thank you for this. Very helpful.
Thanks for breaking it down for us!
Not one person told me about the importance of building wealth at an early age. So much I've learned over the years has been due to trial and error, mostly error.
I had a 401K that I depleted due to the hole that I put myself in. At 29 years old at the time. Ughhh.
Thank you for the information.
you weren't able to think that saving money is good?
@@ChineseWinnie that wasn't it...
How old are you now? 29 is still young, definitely young enough to turn it all around and still end up a millionaire in the future 💕
@@ChineseWinnie Back in my time. There was no electronic online forums or anything. It was all done on hard paper application forums. They don't teach you this in school and growing up, my parents did not teach anything about saving money. There to busy working to make end meat for us.