We definitely don't tell young people to invest in their retirement enough. The only drawback is how old we have to be to legally retire and start taking that 401k etc money out. If I realized that I would have invested some "retirement" money elsewhere in case I need it earlier.
@nightmare4122
Жыл бұрын
For Roth IRA, we can withdraw after 5 years but we have to pay ordinary income tax on it which is good if you’re original ordinary income is $0, which means it’ll be tax free.
@haldouglas4773
Жыл бұрын
nobody ever tells us how, either. investment, taxes, retirement related anything are never covered in school.
@scapegoat5143
Жыл бұрын
@@haldouglas4773,and that's how it is in every country. So yeah, we should study about financial side of life by ourselves
@BrooklynAlien
Жыл бұрын
@@haldouglas4773 Yes, just crazy! That should be part of basic living 101
@BrooklynAlien
Жыл бұрын
@@scapegoat5143 But then most people just don't or figure it out when they're 40 or 50.
@Sal_needs_Salt
Жыл бұрын
What job are you working at 21 that’s giving you a gah damn 10k bonus. I’m happy working as an electrician at 21 rn, but gah damn.
@nightmare4122
Жыл бұрын
SDE or sales in big tech, or high finance. Although to be fair they get much more than a 10k bonus. Although I guess even second year public accountants can get around 5-10k bonuses, so basically every white collar job.
@turtle4llama
Жыл бұрын
That's the best part! It doesn't exist!
@hassankhokhar204
Жыл бұрын
All nurses get 10k as a sign on bonus. Pretty standard
@nightmare4122
Жыл бұрын
kzitem.infolW2_8Abkhvw?feature=share
@user-yh8cc4tx8u
Жыл бұрын
Pretty much any healthcare position lol they’re desperate for people !
@HawkeyeFortune
5 ай бұрын
The memories from that 6500$ vacation when you are 21......
@TrueWealthFinancial
5 ай бұрын
Hmmm
@saqlaq96
4 ай бұрын
There’s probably a middle ground. Go on a budget friendly vacation and invest most of what you can early on.
@Camj27
4 ай бұрын
Exactly. Half of us will probably be dead by the time we can use that retirement money.
@ljtalley7
4 ай бұрын
@@Camj27broke mentality
@Camj27
4 ай бұрын
@@ljtalley7 why because I want my money while I’m still alive? Most young people are never going to be able to retire. We can’t even afford houses never mind retire.
@CrystalJoy-32
3 ай бұрын
For 30 years, I've managed my portfolio, holding 3 shares of Berkshire Hathaway Class A stock (BRK:A) purchased in the mid-90s around $17,000. Now, I'm selling some to add new Gen. Stocks. Considering market instability, should I reinvest in Gold instead of stocks?
@AddilynTuffin
3 ай бұрын
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with strategies to hedge losses
@carolynrose1816
3 ай бұрын
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
@sting_grayl
3 ай бұрын
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
@carolynrose1816
3 ай бұрын
*Vivian Louise Dehoff* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@janetslater129
Жыл бұрын
The thing is that nowadays, a lot of us don't make enough to be able to save for retirement.
@AdviceWithErin
Жыл бұрын
For some it’s definitely more challenging, but understanding investing is the first step. You can start with $1!
@trekkie79startrek23
Жыл бұрын
I didn't make enough for a 401k and a roth Ira. But now I do and am going to hit it hard. Hopefully I can make up for it with being a 30 year old.
@kaykoopmans5892
Жыл бұрын
I’m 18 and I invest 20 dollars a month. In my mind that’s like eating out twice. Like she said, investing just one dollar is good because that money is being invested to grow
@cydnie8242
Жыл бұрын
Agreed. While I do make a little extra every month, it’s not a lot and I’m just better off putting it into a high yield savings account so I can take it out when any extra expense comes up
@Copyrightbreaker22
Жыл бұрын
@@AdviceWithEringirl stfu that is such a corporate answer.
@hysteriasfire
Жыл бұрын
First off I'd love a $10,000 bonus, or even a $6500 bonus
@xtina8455
Жыл бұрын
She just used that for simplicity sake. Typically people save the ~$542 / month to fund this account. Last year the limit was 6000 so it was a simple 250/paycheck or 500/mo for me to automatically contribute. Its a lot easier treating it as a bill.
@NotRbot
11 ай бұрын
the investment in other things is the Georgia 🍑 approach
@lilianapastrana611
11 ай бұрын
Or just a bonus
@MrPaxio
11 ай бұрын
onlyfans bonus, duh
@BrooklynAlien
11 ай бұрын
I'd love a $100 bonus. That's what I got the last time I got a Christmas bonus. And that was like 20 years ago. Even though I've worked at companies that rake in millions from each client. Only the top managers get bonuses, promotions and raises. The rest of us got 2 pay cuts (my last full time job) it was super fun when they gathered us together to announce the same 3 people that kept getting promoted. Or to give us a presentation about how great we did as a company last year. Assholes.
@MegatPage
3 ай бұрын
Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
@StacieBMui
3 ай бұрын
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
@StocksWolf752
3 ай бұрын
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 licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@EleanorBaker474
3 ай бұрын
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@StocksWolf752
3 ай бұрын
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
@crystalcassandra5597
2 ай бұрын
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
@cdbf98
11 ай бұрын
I invested $2500 at 21 and now at 24 it’s at $6000, I really needed this reminder to put some more in there 😂
@isamartoledo854
9 ай бұрын
How does it grow, I don’t quite understand rhat. Cuz mine is just sitting there and not accruing anything?
@Catscratch241
6 ай бұрын
@@isamartoledo854you have to invest the money. Search online what you can invest in. So you can find what you are comfortable with. Good luck.
@benricard1
5 ай бұрын
@isamartoledo854 you need to make sure you're actually invested into something. Likely you are not actually invested into anything and just making ~0.1% from money market/cash sweep. There should be a box you can check or look for to change elections
@Shawn-zt3gv
5 ай бұрын
@isamartoledo854 the Roth is just a holder for your money. Inside the Roth you have to determine what stocks, ETAs or bonds to invest in. If you invest right you could make the returns she discusses in this video but it's not likely so don't feel too bad
@unboxing4319
4 ай бұрын
Ohhh ha ha ha soooo funny ahhh hah ha ha
@Midnight_Star1021
Жыл бұрын
21 with $10,000 to spare? What a pipe dream 😂 Edit: For all the people commenting variations of "it's not that hard" and "I had X-amount-of-dollars-over-10K at 21", I'm saying this mostly as a part of my personal experience and expectation. I plan on going straight into med school after graduating at 18, so I'll be in around ~$100,000 debt at 21. This'll be as a student with minimal ways of getting savings 👍. So, even if you had 10K in funds to spare when you were 21, to me (and presumatuvely MANY others in my generation and beyond) it would still be a pipe dream, regardless of your experiences! Thanks for coming to my TED talk.
@glitchsteph
Жыл бұрын
at 18 i had 10,000 to spare...i thought that was pretty normal honestly.
@sawyershin1434
Жыл бұрын
@@glitchstephstfu lmfao
@xduwu4257
Жыл бұрын
Fr I'm still in school, around the same age, but that's what I have in my TFSA after years of saving 😭
@Midnight_Star1021
11 ай бұрын
@@glitchsteph Which era were you in?
@pumpkinwarrior7138
11 ай бұрын
@@glitchstephthat’s a crazy statement lmaoo
@Frogbog11
11 ай бұрын
The only thing my 21 yr old self got at their job was a 20$ gift card for the store itself
@drock213
5 ай бұрын
You didn't get paid?
@asapGooby
5 ай бұрын
Poor guy, I’ll pray for you tonite 😊
@babblesp1367
5 ай бұрын
I know. I just keep thinking about how I wish my first job gave me a $10,000 bonus, lol. I may have gotten a candy bar.
@TheRealGOTdurrrred
3 ай бұрын
I remember my first job bonus was a $25 gift card to Starbucks. I got 2 coffees with it.
@CynthiaByrd648
11 ай бұрын
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. Compounding is the process of earning interest on your initial investment, as well as on the interest that investment earns. This means that over time, your investment can grow exponentially. So the earlier you start investing, the more time your investment has to grow through compounding.
@greekbarrios
11 ай бұрын
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@MIchaelGuzman737
11 ай бұрын
@@greekbarrios 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, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@elizabethyork590
11 ай бұрын
This is exactly how i wish to get my finances coordinated ahead or retirement. Can I get access to your advisor?
@MIchaelGuzman737
11 ай бұрын
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "Jill Marie Carroll" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@elizabethyork590
11 ай бұрын
This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.
@noahmeucci7816
10 ай бұрын
Time in the market beats timing the market. That all I gotta say.
@MrBrickLayer
3 ай бұрын
FACTS!
@mindybolin7997
Жыл бұрын
Imagine just getting $10000.
@lanthanumlanthanium6373
11 ай бұрын
Imagine not realizing that almost half of it is taxable before spending it all.
@teraxe
11 ай бұрын
@@lanthanumlanthanium6373 pretty much like all income.
@buffuniballer
11 ай бұрын
@@lanthanumlanthanium6373 The $6500 is easily the remainder after Federal and State income taxes as well as FICA taxes in most places.
@aarodful
10 ай бұрын
@lanthanumlanthanium6373 I got a $10k bonus this year. $5600 was put in my account. 8% went to retirement, but 35% was just taxes.
@lanthanumlanthanium6373
10 ай бұрын
@@aarodful That's still a lot of money taxed, also 8 percent is not enough for retirement, you need 15 percent at the current inflation rates to have enough by 65.
@Thejazzerc
Жыл бұрын
10k bonus on your FIRST job. 😂😂😂😂
@MrPaxio
11 ай бұрын
onlyfans bonus, duh
@tesla82111
11 ай бұрын
I got that right out of college. Mechanical Engineering at a big tech company in Arizona.
@ColonizerChan
9 ай бұрын
@@tesla82111 As a chemical engineer, our market is already overcompetitive as it is. At least they aren't skimping on the ones to avoid the mess like in Bhopal or Love Canal.
@joshuacox1559
9 ай бұрын
Shoot, if I’d have been smart at 21 I’d be rolling in money right now. 2 military deployments to Iraq and Afghanistan with nothing to buy and no bills for 12 months each. Too bad I was dumb as a rock.
@MrPaxio
9 ай бұрын
@@joshuacox1559 youre looking at it the wrong way. because youre still working, and make it 24/7 work when ure deployed for a year. except youre getting paid very little for the hours you put in. and youre downgraded to the federal minimum wage. so being a cashier in your local city would pay you more, for alot less of fucking around. and you dont risk getting blown up. which would be the nicer option, coming back with debilitating injuries is the alternative
@No-sv6mu
11 ай бұрын
In my early 20's I worked for a company that had 401k match to 6%. I had coworkers not taking advantage. When I asked why not, they said they would rather party. I said just do the 6% match as that is free money. When I left that job to stay home with my baby I had about $18,000 on the 401k. I converted it to a Roth. Stayed home for 7 years (ages 26-33) until both my kids were in full time school. Didn't contribute anything. The account had grown to $42,000. Now I'm 39 and have contributed minorly to the Roth here and there. But it is $58,000. Don't miss out on the time to contribute in your 20's and take advantage of decades of compounding interest and growth.
@ChocoTeas
6 ай бұрын
When you moved it to Regular Roth, did you have a brokerage person to keep investing it for you?
@No-sv6mu
6 ай бұрын
@@ChocoTeas I have it in Fidelity and manage it on my own
@ChocoTeas
6 ай бұрын
i see what stocks or bond do you usually buy? @@No-sv6mu
@devinloew7681
5 ай бұрын
I didn't even know you could touch your 401k. So it can be converted to Roth just like that and grow?
@ChefJeff003
4 ай бұрын
@@devinloew7681if you terminate employment with your company, you can Rollover your 401k into a traditional IRA, then convert the traditional IRA into a Roth. You will pay taxes on the balance in the year the conversion takes place.
@GeorgeAusters
10 ай бұрын
When I was 21, they used to give you a chocolate bar as “a bonus”
@jtixtlan
Жыл бұрын
Good demo on investing early. However, what 21 year old is getting a $10K bonus on their first job?
@edrosales1520
Жыл бұрын
A very fortunate one
@CedarAce1000
Жыл бұрын
Idk man I know college sophomores making $80k a summer - it's most certainly not impossible
@SCL111
Жыл бұрын
Management consulting firms give $20k signing bonus
@nightmare4122
Жыл бұрын
SDE and sales in big tech get 50k signing bonuses, non tech in big tech get 10-20k signing bonuses, high finance gets similar amount for signing bonus along with 50-100k performance bonus, big law does similar. Also assuming the 21 year old is finishing up their second year in Big 4 accounting, they may be able to get a 5-10k performance bonus. These bonuses are actually extremely common for 21 year olds in white collar entry level jobs, with 10k on the medium-low end.
@jtixtlan
Жыл бұрын
@@nightmare4122 How is a 21 year old qualifying for a job that provides signing bonuses like this? This is really surprising to me. Wouldn’t it be extremely unusual for a 21 year old be finishing up their 2nd year in Big 4 accounting when most people that age would be entering their senior year if a BS program? They’d have to graduate with their BS at 19 and get scooped up by a Big 4 that wants to give that kind of responsibility to a very intelligent teenager. I’m especially interested in non-IT, non-sales in big tech.
@bananaz572171
Жыл бұрын
If you haven't already, could you make a longer video explaining what a Roth IRA is and how it works? Especially how the there's no need for additional contributions according to this skit
@nightmare4122
Жыл бұрын
there is a need for additional contributions, but it just said there weren't for simplicity. You add more money to drive compound growth. For Roth IRA - no or very little tax deduction when you put money in, earnings grow tax free, no tax when you take it out in the future. For Traditional IRA - Tax deductions when you put money in, earnings grow tax free, taxed at ordinary rates when you take it out in the future (still advantageous because when you take it out you are assumed to be retired and have little income)
@kikikincaid
Жыл бұрын
You can contribute 6500$ to a ROTH ira every tax year. Don't forget to invest in stocks/bonds/mutual funds after contributing!
@dovecat
11 ай бұрын
The numbers more or less work out for no additional contributions to the Ira. 44 yrs@8% (21y/o to 65y/o), s&p500 averages about that much, though a conservative number may be better for the example. You can test those numbers out yourself with the compound interest calculator on investor.gov. Of course, contributing even a little more every month or year will make that final number larger especially if done early.
@yorgunsamuray
11 ай бұрын
Roth Irish Republican Army?
@nightmare4122
11 ай бұрын
@@kikikincaid Just a reminder to other people - you can contribute up to $6500 (as of 2023) MAX between Traditional IRA and Roth IRA. I recommend contributing to traditional IRA for the tax deductions if you're near the top for your filing status and income range. Otherwise, Roth IRA is great for poor people (under 20k for single filers) and slightly richer people (but still under the income limit) who don't get a tax deduction if they contribute to an IRA
@ClaytonBigsby89
5 ай бұрын
I didn't know what a Roth Ira was until I was 28. At that point I was in debt up to my eyeballs working as a pizza delivery guy..I'm 34, nearly debt free and finally about to open a Roth. I'll be sure to inform my children! (Maybe my parents did tell me but I wasn't listening and my default answer was "I know")
@MrBrickLayer
3 ай бұрын
Even @ $54 per month for 10 years then stopping the contributions and allowing it to grow for 30 years would still yield some amazing returns 💰
@carlosanguita9778
5 ай бұрын
Ah, yes. The typical 6,5k bonus on your first job at 21.
@CruiseSmith
Жыл бұрын
My dad would invest in his retirement but would always take the money out in order for us to eat, pay bills, go shopping.. He only lived to 54 years old. He would have never seen that money anyways. Live your life the way you can afford. Live life to the fullest before it's too late.
@xtina8455
Жыл бұрын
You can live your life to the fullest while still investing. In a roth ira you can take your contributions out if needed, but any growth can stay growing. Of course it will stunt the growth when you take out money thay couldve been growing, but thats your decision. Nobody knows when theyll die, and if you die with investments, your beneficiaries will at least be able to use those funds.
@faerlydisfunctional
Жыл бұрын
@@xtina8455This assumes that saving isn't a privilege the impoverished do not have access to You can't save $10 a month if you need that $10 for food and bills and don't have a dollar left to spare
@mathiasmies7341
11 ай бұрын
@@xtina8455 what the fuck is wrong with you people in this comment section? Man's spitting bars and you just have an irresistible urge to go to bat for the Wallstreet bankers and all of the other crooks that profit off of your sacrifices while, especially in any year since 2008, continuously driving interests rates down so you get even less out of your savings than you used to. Like, I kinda get it, we've all been raised being told to be responsible with our money and shit... but like when does that narrative finally end and we get to discriminately evaluate how banks, politicians and billionaires are stealing the wealth? I mean ffs, something like 85% of Walmart's employees are on food stamps. Sounds a lot less like people are financially illiterate and it seems a lot more like mega-corporations just want a money funnel and they'll shamelessly lie to you about the secrets to success.
@princessmolskiii
11 ай бұрын
@@faerlydisfunctional’the impoverished’ idk why but it sounds so rude
@OSCARMlLDE
11 ай бұрын
@@princessmolskiiiwhat term would you rather use???
@rosebudb1295
Жыл бұрын
Just started a 401k this year! I'm 20 and it's never too early! I made my hr lady so happy when I asked her how to set one up with the company.
@denisewilliams9304
11 ай бұрын
Time is your greatest asset. The years go by quickly. Save as much as you can but live your life and have fun, too.
@teamkperez772
11 ай бұрын
That’s great , I have 5 children , my husband did open them Roth ira , my youngest was 6 years old that time and my oldest I believe was 12 that time. They’re ages 9-16 years old now. He started putting them $2k each and just add every year if he has extra money , hopefully this will help them when time comes.
@nightmare4122
11 ай бұрын
Remember to contribute the max to your Traditional IRA (if you qualify) for the tax deductions (if you make over 50k since you're already contributing to a 401k which gives you tax benefits), or to the Roth if you don't make a lot but have enough to contribute.
@tyanabarnes6060
10 ай бұрын
@@teamkperez772 I was looking into that, but doesn’t your child have to have earned income to contribute?
@XFizzlepop-Berrytwist
5 ай бұрын
@@teamkperez772 As long as they dont touch it, and you as parents have taught them well about finances. When it comes to them to retire, they definitely will have 100k+ each. (Assuming invested wisely.)
@AntonioVivaldi1678
11 ай бұрын
21, first job, $10,000 bonus.
@devinloew7681
5 ай бұрын
EZ
@s0nnyburnett
5 ай бұрын
then she woke up
@cyberchef8344
4 ай бұрын
@@s0nnyburnett Not sure why you think this is unreasonable. I went into tech and also got 10k+ bonuses every year starting. Obviously not every job/industry will give young employees this, but that doesn't mean it doesn't happen
@AntonioVivaldi1678
4 ай бұрын
@@cyberchef8344 Not unreasonable to start a job with a 10,000 bonus, it’s just that since it’s her first job it’s a little shocking. Like damn I wish I got a $10,000 bonus at my first job.
@MrBrickLayer
3 ай бұрын
Even @ $54 per month for 10 years then stopping the contributions and allowing it to grow for 30 years would still yield some amazing returns 💰
@clairewinchestermurray8703
5 ай бұрын
I remember having a consultation with a financial analyst last August, and it was incredibly insightful. Can’t stress enough how helpful experts in this field are!
@clairewinchestermurray8703
5 ай бұрын
As long as you diversify your portfolio, any single stock or investment that you own shouldn’t have too much of an impact on your overall return. If it does, diversifying might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding me profit thanks to guidance from Jonas W. Herman.
@McPhersonz
5 ай бұрын
That’s awesome! I’ve been contemplating hiring one since I can’t get a hang of investing even after buying courses. I’d like a discussion with him. Any means to reach him?
@clairewinchestermurray8703
5 ай бұрын
Hermanw jonas (a Gma!L comm Is he taking commissions for his services? Yes, I’m I still making money in the process? Hell yes!
@sampangolin
5 ай бұрын
@Friedman323 @UCDyGrboRGcbTneWTaEaoX8w stop spamming youtube with these shitty financial adviser ads
@geffreyacosta8821
5 ай бұрын
Bot!
@kiernanoh
11 ай бұрын
I'm so glad I was born into the digital age where this info is readily available, I've been maxing out my roth ira since I was 19 (now 24) and already have almost 40k tax free, with 8.5k in returns.
@angelacox8322
5 ай бұрын
Smart!! I started a cooperate job right out of HS -- every one else was older or nearing retirement so that is ALL they talked about (how much $ they saved) -- one day a coworker says to me, "if I would have started saving at YOUR age, I would be a millionaire a times over" -- I thought that was silly (and honestly didn't have much extra to save!!!), but I started anyways, only 2 or 3% -- I didn't even miss it after the 1st check. Today I am 41 and can honestly say starting, even if small, was the greatest thing I could have done for myself!! It's helped several times over the years, including when buying a home (just by being part of my asset /portfolio) -- above all, it gives me peace -- If I die before I use it, my son/family will still be entitled to it and that brings me comfort for them as well. I see many young people today saying not to save and even encouraging others that "it's all a scam"!!! Don't listen to the crazy talk, save often, start early -- esp if you have company match (that's "free" money!)!!
@kiernanoh
5 ай бұрын
@BS-mo3sc there is a contribution limit that changes every year. This year (2024) it is $7000 a year. So if you wanted to do it monthly to max out it would be roughly 585 dollars a month.
@juanfranciscobrizuela
Жыл бұрын
In my case it's more like "wow, I'll be able to afford chairs this month"
@natehill8069
10 ай бұрын
More than 1? Dreaming...
@kellyglusovich6960
7 ай бұрын
DUDE, I bought a used table months ago and just scored some free chairs just in time for the holidays
@juanfranciscobrizuela
7 ай бұрын
@@kellyglusovich6960 Nice!
@Clarinetboy82
11 ай бұрын
I really need to figure how how to save for retirement now. I'm 41 and 65/70 seems a lot closer than it once was.
@paulfox7741
11 ай бұрын
Moral of the story: Never underestimate the power of "Playing the Long Game"💯
@heyitsritu
Жыл бұрын
Hey Erin your videos are helpful, please make a video about ROTH IRA equivalent in Canada 🙏 Thank you so much 💗
@moreheart3252
Жыл бұрын
For Argentina too please
@Erin-ho9hj
Жыл бұрын
I always advocate for high yield savings accounts, they should be available in every country (not sure, but definitely available in canada). You can withdraw anytime and can get up to 5% apy just for having money in there. Just check if theres fees/minimum balances
@Sanity016
11 ай бұрын
@heyitsritu it sounds like a TFSA to me
@druid2538
5 ай бұрын
Roth IRA in USA = TFSA in Canada 401k in USA = RRSP in Canada
@JuneLemmon
Жыл бұрын
I'm French so I have no freaking idea what a Roth IRA is 😅
@sonneyputh6503
Жыл бұрын
It’s an investment entity in America were once you invest in it that money wont be taxed no matter what you do with it.
@gillianjones6629
Жыл бұрын
You use it to save for retirement, and you aren't taxed on the money you withdraw, but you can only put in $6500 per year.
@unknownperson3691
Жыл бұрын
Yea you can just riot if the retirement age gets raised. Meanwhile in the US, you will be shot by a bunch of people hence there is not that luxury available here.
@Upload098765432
Жыл бұрын
IRA is an acronym for Individual Retirement Account. In the USA, the retirement money you get from Social Security is not enough for most people. To fix this issue, the government lets you put after tax money into this investment account and any money you make from it in the stock or bond market is tax free so long as you follow its rules. The alternative is a 401k or 403b. There you get to deduct any money you put in there from your taxes now but you will pay taxes on it when you withdraw money from it in retirement
@TophTheMelonLord
11 ай бұрын
It's an account where investment income is not taxed if you leave it in the account until you're 60 years old. To encourage people to save for retirement.
@ryant2568
11 ай бұрын
Here in Australia, we have a system called Superannuation which is basically a Roth IRA with one key difference, it is mandatory for your employer to contribute 10% of your pre-tax income into it every month.
@michaelrichards6339
11 ай бұрын
21. This year will be the first time I am able to max my Roth out. Very excited
@MCChubbyUnicorn
11 ай бұрын
I've been maxing my Roth for the past 3 or so years. Definitely grateful to have enough money to be able to do that and not skip a meal.
@a.loismurphy9070
11 ай бұрын
Many people become suddenly rich in the world of cryptocurrencies while others become destitute. Securing your future is in your hands, so invest today and become a winner for life.
@user-xv7bc7dn6y
11 ай бұрын
When you talk about good people, you talk about Mrs. Mildred Dorta, she is an expert when it comes to trade, her performance in trading services is 💯💯💯 5 weeks ago I made a profit of 3.1 BTC and I am currently trading with her and my colleague that I introduced to is testifying about the 2.4 BTC she made for him.
@munchablemoth
6 ай бұрын
These types of videos only make me more anxious bc i feel like im losing time at 22 to save yet i dont have the ability to have a roth
@Shawn-zt3gv
5 ай бұрын
Don't feel bad they don't really pay this kind of returns
@adrianpena1234
5 ай бұрын
Why can’t you open a Roth!?
@robertt9342
5 ай бұрын
The power of compounding interest is amazing. If only people when they were young could afford to put the money aside. Whether it’s living costs or student loans, it just doesn’t work out for them.
@sillylittlejenn
Жыл бұрын
imagine being in a position to get a10k bonus at all.
@MrPaxio
11 ай бұрын
onlyfans bonus, duh
@tesla82111
11 ай бұрын
I got that right out of college. Mechanical Engineering at a big tech company in Arizona.
@MrPaxio
10 ай бұрын
@@tesla82111 bro, ppl got rich off tesla without sucking it up to your idol elon, u can do better
@natehill8069
10 ай бұрын
One time I got a bonus ($500?) I took the wife out on the front porch and closed the door then showed her the check. She said "thats great but why did you take me out here to show me?" I said "I didnt want the appliances to know we had extra money!"
@JasonGroom
5 ай бұрын
Ok, so go small, $75 a month is more than $300,000 at 7.5% average annual return, and cost you less than $50,000 over that 44 years, in the case of a 21 year old
@alyssa2796
11 ай бұрын
My dad died at 65. With $1 million still in the bank he didn’t get to spend on his retirement in Costa Rica. I’m spending my damn money now.
@nightmare4122
11 ай бұрын
I thought the same way when I was 15, because why contribute to retirement when you don’t know you’re going to live that long anyway? But I do it for the tax deductions (otherwise all the money you earned is going to the government and not contributing to your net worth…at least retirement accounts are YOURS which makes the money yours even if you may not end up using all of it).
@albinosaschoopasquatch4455
8 ай бұрын
Hopefully you dont live past 65!
@druid2538
5 ай бұрын
@@albinosaschoopasquatch4455 Even if she does and doesn't have any money at 65, at least she'll have had fun with her money for decades up until that point. FAR more fun than she would trying to do things with money as a 65-year-old. That being said, the smart thing to do would be to invest a couple thousand in the Roth IRA and forgetting about it. And then have fun with the rest while you're young.
@mariaguild2024
5 ай бұрын
Im sure he is still grateful that he left something to his family instead of nothing
@brookekathryn1980
5 ай бұрын
I retired at 34 by heavily investing. Now all I do is spend money. Screw yourself now or later. Your choice.
@Ginosparty
5 ай бұрын
As an accountant for 10 years, you'll realize that both of them are right. The only rule is don't spend above your means.
@donaldlahoda8693
5 ай бұрын
Wow the job I had at 21 completely forgot to give me that 10k bonus.
@catgash
Жыл бұрын
where do i even start i feel this immense pressure to get started with this shit as a 23 year old. like i understand i have to play the money game cos that’s how america is but it’s daunting and i legitimately have no real idea what to do. i guess once i can get past the overwhelming research on google i can feel like i’ve done something right
@nightmare4122
10 ай бұрын
For IRAs, search online to see if there are any bonus offers - Fidelity always offers a free $50-$200 if you open any retirement account with them.
@Catscratch241
6 ай бұрын
Since you are already on KZitem, search it up here. There’s plenty of videos to help you understand how to invest and how to invest for retirement.
@ericaspruill8461
Жыл бұрын
It's been 14 years since I put money in my ROTH IRA. I made $3.
@jaredflurry937
Жыл бұрын
What funds do you hold in your IRA? That sounds scarily like the negligible interest from unassigned funds within a brokerage account.
@nightmare4122
11 ай бұрын
Talk to a financial advisor soon about reallocating funds, or put them into SP500 or blue chip tech stocks like most younger people.
@natehill8069
10 ай бұрын
You should have bought beer - you could get more money than that from the empty cans!
@JasonGroom
5 ай бұрын
That money is just sitting there and not invested then. In the last 14 years, we have had more years above the 8% average than below.
@skytiger859
11 ай бұрын
When I was 21, I was happy if I could work a whole shift without a customer freaking out on me for something I couldn't control.
@crypticutopia7228
5 ай бұрын
This makes me realise how good we've got it here in Australia. Employers will automatically pay you an extra 12% on top of your wage to go into a retirement account called superannuation.
@faerlydisfunctional
Жыл бұрын
Imagine having $6500 to put in savings at 21 I was already living paycheck to paycheck and going hungry
@gabriellamanley9779
11 ай бұрын
Did you try increasing your income or minimizing your expenses?
@faerlydisfunctional
11 ай бұрын
@@gabriellamanley9779 .......Nooooo that has neeeever occurred to me wow you just wrenched my third eye open thanks 😂😂
@kimbrolyy
Жыл бұрын
Please please please make sure you mention that investments can go up and down in value so you can get back less than what you put in. Investing should be a longterm (i.e. more than 5 years) to increase the likelihood of getting back more than what you started with
@XFizzlepop-Berrytwist
5 ай бұрын
Also, typically it needs put into things like S&P 500. Spread into different stocks, so you dont have it all in just one thing. A person tries to do much else, you will basically be gambling, or get lower returns.
@danunpronounceable8559
5 ай бұрын
It's extremely unlikely that after 40 years you would get less back than you put in. Perhaps in "real" terms but certainly not "nominal" terms
@tmadlegionsoul3255
5 ай бұрын
You forgot about inflation. That $168,000 still has the same buying power xD
@Katsuya89
10 ай бұрын
Great short! Really shows The power of compounding interest.
@epalmerbright
Жыл бұрын
My mum has always pushed superannuation for my sister and I since she has almost none. I currently have about 6x the average for my age and 3x the recommended amount for comfortable retirement so feeling pretty good! Early contributions when I was a teenager were a massive help.
@UnholyWrath3277
11 ай бұрын
The joke is modern companies ever offering a 10000 bonus to a 21 year old
@nightmare4122
11 ай бұрын
They offered me a $50k bonus as a 20 year old
@UnholyWrath3277
11 ай бұрын
@@nightmare4122 yes im sure your dad was a fine boss
@nightmare4122
11 ай бұрын
@@UnholyWrath3277 Nah, my parents are immigrants and their combined income is around 60k. My dad doesn't even have a job.
@tesla82111
11 ай бұрын
I got that right out of college. Mechanical Engineering at a big tech company in Arizona.
@tedferkin
10 ай бұрын
@@nightmare4122 there combined income is 60k.... my Dad doesn't have a job.... what are you on about, talk sense, because I think what you are saying is BS
@Zhello79
5 ай бұрын
The sudden look of realization at the end lol 😂👍🏾👍🏾👍🏾
@warlordop713
4 ай бұрын
I’m 21 and just put $15,000 into the s&p 500 and I’m buying a Rolex
@lauralong8093
Жыл бұрын
What if I'm turning 60 this year? Suspect I'll be working until I drop.
@reyd286
Жыл бұрын
Nah just put every penny away 😂
@bedazzledmisery6969
Жыл бұрын
Paycheck to paycheck makes investing pretty hard.
@customsolutions7167
11 ай бұрын
You can still do it .. get a Robinhood account. You can. Buy fractional shares .. that means you can put in as little as one dollar at a time. I have all my money in robinhood in Tesla ... By the time I retire I'll never have to worry about money like my parents do. 😊
@nic12344
11 ай бұрын
@@customsolutions7167 That's a very bad advice! Don't put all your eggs in the same basket, especially not in something like Tesla! And stay away from stocks if you don't know what you are doing (you clearly don't). Instead you should invest 80% in a few low fee index ETFs of different compositions (both domestic and international) and 20% in bonds. As you age, slowly inverse these percentages to get less risk (you'll also get less return, but you'll have all the money you need already and you just want to keep it safe). Now you can truly go hands off and get better returns at the same time! Why should you take advice from a random guy like me on KZitem? Well you shouldn't, but it's not my advice, it's what Warren Buffet and John Bogle recommend!
@its_me_luv6941
11 ай бұрын
But still doable
@Susanhartman.
Ай бұрын
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
@91ScottieP
Ай бұрын
Many promising stocks across industries are worth tracking. While it's not necessary to act on every prediction, enlisting the guidance of a financial advisor is advisable. They can assist you in determining optimal entry and exit points for purchasing and selling shares or ETFs, ensuring well-timed decisions aligned with your investment goals.
@mikegarvey17
Ай бұрын
I fully agree and place great value on my advisor's role in guiding my daily investments. They excel in both long and short strategies, managing risk for potential gains and protection against market downturns. Their access to exclusive insights and in-depth analysis makes exceeding expectations a regular outcome. In the two-plus years I've worked with my advisor, I've gained over 1.2million dollars.
@ThomasChai05
Ай бұрын
@@mikegarvey17who is your advisor please, if you don't mind me asking?
@mikegarvey17
Ай бұрын
"Gertrude Margaret Quinto" 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
@mariaguerrero08
Ай бұрын
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
@mixedcreations2918
5 ай бұрын
You forgot the part where you die from a heart attack at 62 and never realize your retirement like so many
@Hellcatalex
Жыл бұрын
We aren’t taught these things when we are young, I was working at a bar at 21 and I still don’t have a 401K and I have no idea how they work and I’m 28
@jebandshiv7070
Жыл бұрын
You're not behind. These videos are for the PMC class not us plebs
@oxnyxws
11 ай бұрын
Really? I feel like I have been drilled on since I got a paycheck at 16. Even a little bit consistently helos over the long run.
@markwilson4078
Ай бұрын
I didn’t get one until I was 31, but ever since I got it it’s been a real good addition to my Robinhood account. I don’t make enough income to be able to max out on any year, but the cool thing is you don’t need to as long as you contribute to it. In October I’ll be able to put in enough more to make my yearly contribution equal at least $1000.
@KittenCat2223
11 ай бұрын
I make $13/hr. I barely have 1 dollar on a good day. I can’t invest negative money. 😂
@customsolutions7167
11 ай бұрын
First of all you have to look into finding a better job paying more if you find one that pays 14.50 then you already have yourself a raise of ten percent.. then keep doing that as much as you can .. also there is always a second job ... Which would double your income... I know most people don't want to put that kind of effort into work and life when they are young .. but that's when it pays off the most..... 😊
@sarahabaht6676
8 ай бұрын
Thank you so much for this advice❤
@ThomasShelby-xz2fk
11 ай бұрын
The fact that high school students aren’t being taught personal finance concepts is a joke. These “curriculums” are a disgrace.
@nightmare4122
10 ай бұрын
I think it should be enough to teach basic critical thinking skills (English, math, science, etc) and everything else is pretty easy to research and understand on your own. I say this as a very recent high schooler
@jordanswann346
Жыл бұрын
Can you do a video explaining how to make a Roth IRA please? I’m in high school and I know they’re not going to teach me this
@lucidragon5260
Жыл бұрын
It's hard to give specific instructions since every company is different. I know in my case, my company sent me to a website of a company that handles retirement savings. There, I had to select the percentage to contribute, and they let me set different percentages for Roth or normal. It was easy to set up and understand. I think there are two things you want to keep in mind. If you don't select anything yourself, the company might auto enroll you in contributions. This is most likely not Roth contributions, so try to figure out how to enroll yourself. Also, usually companies match contributions, but sometimes they won't match Roth contributions. Do a little digging or ask them what they match. ALWAYS get the match, and then you can invest extra in Roth.
@Upload098765432
Жыл бұрын
Make an account with vanguard, blackrock, fidelity, or equivalent. Tin the account creation, they will ask a question for the portfolio type and you select Roth IRA. Warning for high school students: you are likely making less than $6500/year, you can't contribute more money to a Roth IRA than you say you earned on your tax filing. If you do then that is tax fraud.
@TophTheMelonLord
11 ай бұрын
After you create the account, you also need to invest the money. It's not a savings account that pays interest, it's a container in which you can buy stocks, bonds, etc. As a beginner your best choice is a total market stock fund (invest a little in everything rather than try to predict winners).
@lindsayrobie
11 ай бұрын
You can make one with certain banks. I would recommend taking Financial Peace University by Dave Ramsey
@AdviceWithErin
Жыл бұрын
Join my free investing 101 webinar this Thursday! DM me “INVEST” on IG or go to AdviceWithErin.com/money
@johnnyg3606
5 ай бұрын
Dunno why the Gov doesn't just put 1000 in investments for every newborn that they can't touch till retirement. Surely would save a load in state pension
@damienwelter4543
5 ай бұрын
You're amazing! Haha. Love the way you put this together, very effective.
@ThreeENot
Жыл бұрын
good idea yes, always thought about investments too
@FinchPG
Жыл бұрын
Def don’t get the full 10k after taxes
@nightmare4122
Жыл бұрын
Just know how to minimize taxes. You can get almost the full amount if you do your tax planning right.
@tamikaesperson6295
7 ай бұрын
Working full time, Mom, getting a BA and definitely don’t have any money to spare y’all are what I hope I can do one day SOON!
@McElvinn
5 ай бұрын
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?
@Patatkevin
5 ай бұрын
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
@sheltonPston
5 ай бұрын
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
@AUstinnesc
5 ай бұрын
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@sheltonPston
5 ай бұрын
’Nicole Desiree Simon’. is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@corrySledd
5 ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
@MM4TuT
Жыл бұрын
at 21 I made 700 a month...
@nic12344
11 ай бұрын
Yeah you mean like in 1990 ?
@its_me_luv6941
11 ай бұрын
Bullshit. Ur either not working full time or ur lying. What kind of job r u working where u get paid so little? I’m working minimum and I get 900-1000 a week.
@applesarefum
Жыл бұрын
My parents have always stressed that investing in retirement should be right up there with rent and food on my budget. Always contribute at least the percentage of your salary that your employer will match.
@AwesomeEarthling
10 ай бұрын
The real question is do you want to be rich at 65 or do you want to be happy at 21
@fortyseven1832
11 ай бұрын
I knew a kid that got $50k from a trust when he turned 18. I begged him to invest it but he blew it in 6 months 😢
@hexidecimark
10 ай бұрын
Perhaps he wanted to start where most people do.
@Jess-em4ri
Жыл бұрын
I've just accepted that I'll never be able to retire 🙃
@gabriellamanley9779
11 ай бұрын
Why
@UgandanAirForce
11 ай бұрын
@@gabriellamanley9779 probably because more than half of americans live paycheck to paycheck
@its_me_luv6941
11 ай бұрын
With an excuse like that ya you’ll be working until u drop
@jeanetteinthisorn4955
11 ай бұрын
When financial advisers fail to calculate or explain inflation.
@exactly9099
11 ай бұрын
Average market is 10%-11% growth. Average inflation is just over 4%. So your money will have 6%-7% growth factoring in inflation. If you base on 7% growth, it should have roughly the same buying power as today.
@ddeine_
11 ай бұрын
You cant stop inflation. If you dont invest your money than it hits you even harder.
@michaelsterling2276
10 ай бұрын
@@ddeine_this 👆
@ph1lthyvision
10 ай бұрын
Also doesnt have a clue about what retirement is. These funds are setup so you live off interest and keep that lump. Save 10k in 20yrs and live for like 2 months on retirement??
@KatieBellino
10 ай бұрын
Which is why you want a Roth in addition to your social security and/or pension. This fights the fixed income poverty that many seniors face.
@mariaguild2024
5 ай бұрын
I opened a ROTH IRA for my son when he was 18. I only put 1000 dollars in it, I told him to find some way to add 40 dollars per month. He will be a millionaire when he retires and all he has to do is be able to put 40 dollars a month in his account. I will do this for all my kids when they turn 18 (you can do it for them younger, but is is a different type of account you have to open)
@duskyman1
11 ай бұрын
The most important time to invest for retirement is your first ten years. That is literally about half the money you will ever have when retired. You can't beat the compounding that happens with time. It doesn't matter what you have to do... Save save save... With the mindset to never ever ever touch it. Drive old cars live with roommates etc.
@WoodyJ98
11 ай бұрын
Everyone is so obsessed with retirement, but it seems like wasting your prime years doing something you hate 80 hours a week leads to nowhere. Stress and overwork are two of the worst things that can happen. It seems like you can only enjoy retirement so long when you have exposed yourself to extreme chronic stress for 40 years
@ziviarich220
11 ай бұрын
Consider this: the world is absolutely going to end before someone 21 today hits 60
@justinbuska3499
11 ай бұрын
And then when it doesn’t end and you haven’t saved anything for retirement when your 60, you’ll wish the world would have ended
@charleneb5361
Жыл бұрын
What the heck. I did this. But it’s not on track to grow that much! 😢
@AdviceWithErin
Жыл бұрын
What are you invested in!?
@charleneb5361
Жыл бұрын
@@AdviceWithErin It’s through Charles Schwab auto-portfolio. I’m going to do some research and review the account with them to make sure I’m on track here. Jeesh, thanks for the reminder/info on this!
@AdviceWithErin
Жыл бұрын
@@charleneb5361 oh definitelyyyyy come to my webinar. We will walk you through options that may be better!
@nightmare4122
Жыл бұрын
@@charleneb5361 Try Sp500, VTI shit, or put it in blue chip stocks.
@MargaritaOnTheRox
11 ай бұрын
@@charleneb5361 Yeah. Not very passive of you have to be actively involved. 🤷🏽♀️
@briannamason0201
7 ай бұрын
I just learned about this in my personal finance class last week lol
@doubledutchclutch
10 ай бұрын
Excellent presentation. I plan on sharing this with some friends.
@pinkgiraffe378
Жыл бұрын
Bold of you to assume I can afford to invest. 😂
@JasonGroom
5 ай бұрын
Start small, $25 a month is an investment of $13,200 over 44 years, and based on the modest 7.5% return she speaks of, will be with a little over $100,000 at 65 years old.
@KatZwe
Жыл бұрын
10.000$ Bonus? at 21 years old? Yeah, sure...
@nightmare4122
Жыл бұрын
kzitem.infolW2_8Abkhvw?feature=share Adds up to 10k in a year, and public accounting is pretty easy to get into
@tesla82111
11 ай бұрын
I got that right out of college. Mechanical Engineering at a big tech company in Arizona.
@altdelet3778
4 ай бұрын
I can’t even fathom getting a bonus like that
@rachelbachel2
11 ай бұрын
I got a late start due to a divorce and being a stay at home mom. However, between ages 30 to 35 I put $30,000 in my 401k. Haven't had a job with a 401k since. But that money is now over $100k ten years later. I dont plan on touching it again till Im 65. Start investing early
@mm-b8012
Жыл бұрын
Who makes that much money in a job at 21?? 😂 If you’re talking higher paying white collar jobs, those usually require a college degree. Most people don’t graduate college until 22 and unless it’s your daddy’s company I doubt your first job out of school would give you a 10k bonus within the first year 😂
@nightmare4122
Жыл бұрын
Most people graduate college at 20 or 21, unless their birthday is super early in the year. It’s very common to graduate in 3 years now. Also big tech gives 50k signing bonuses to SDE and tech sales, 10-30k signing bonuses to non tech in big tech, similar signing bonuses to high finance with 50-100k performance bonuses, and even the normal white collar job like public accountants get 5-10k performance bonuses by their second year, who are usually around 21.
@KatieBellino
10 ай бұрын
21 or 22, not 20 unless it's an associate's degree. That being said, if you are 21 at graduation, you are likely turning 22 within 2-3 months as you're very young for your grade level. Most people turn 21 during their junior year of college.@@nightmare4122
@emilyb5557
Жыл бұрын
Wow!!! This is such good content to help with generational wealth. Would love to see a redo with a smaller bonus like 3-5K that might feel more plausible for many of us. Maybe I'm just in the wrong job 😂
@Zack_Wester
11 ай бұрын
I sugest doing a abolut lowest amount. like 1 usd every thierd month kind of level. then work it up to 1 usd every month. a uneven insert. like 1 usd one month 5 the next and back to 1 again and so on. because a lot of them are like put 100 usd a month every month. 1200 usd a year. like that is an impossible sum for me for the last 5 years. because if I had 1200 usd to spend I would have put it on a new computer as my rig is about 5 years overdu by now.
@Zack_Wester
8 ай бұрын
update I looked by rig is 9 years old in Nov 2023. Bought nov 2014. whit the only updates been a new graphic card in fall 2016. and a new cheap but okey hard drives over the last 3ish years.
@greeenmartian
11 ай бұрын
Jeez retiring at 65 seems crazy. Good thing my retirement will be at 57 😁
@markwilson4078
Ай бұрын
I have my account set to keep putting money in until I turn 70. Honestly, I think that will be about the time I will get to retire if I can even do it at all.
@yaboyjonez9476
5 ай бұрын
This is my second time watching your videos and tbh I do not fully understand them but I'll learn eventually.
@Jalopygofar
Жыл бұрын
Unpopular opinion: retirement money is basically money to pay for you to die comfortably.
@oxnyxws
11 ай бұрын
To decay comfortably..the die part is harder. 😅
@DrBrangar
11 ай бұрын
I mean, yeah? Do you want to be working when you are 80? And if so, think about why, because not having to work is rightfully what most people dream of.
@WoodyJ98
11 ай бұрын
People stress themselves out for 45 years just to enjoy 10 years when they can barely walk.
@WoodyJ98
11 ай бұрын
@@DrBrangarI’d rather do that then overwork myself for 40 years. Its amazing how people stress themselves out, then don’t live much longer after retirement. And the funniest thing is, a lot of people choose to work in their 70’s and 80’s, to stay mentally sharp. My grandpa is 78, has well more than enough to retire, yet he still works. I’d rather just have work-life balance for 70 years, than bust ass for 50 and do nothing for 20. Not to say you shouldn’t save or invest, but given a choice between two extremes, going extreme for retirement seems dumb
@DrBrangar
11 ай бұрын
@@WoodyJ98 Retired people don't "do nothing", they just don't have a job they are forced to be at or face poverty. They do things they want to do, hobbies or travel or whatever else. Additionally, saving for retirement doesnt have to mean busting your ass for 40 years. You can have work-life balance for that time too, it isn't either/or.
@RusuSilva
5 ай бұрын
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
@legacymedia8468
5 ай бұрын
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
@RichardMoore-jg5tl
5 ай бұрын
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
@FusunTumsavas-cq7tp
5 ай бұрын
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
@RichardMoore-jg5tl
5 ай бұрын
Christine Ann Podgorny 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.
@FusunTumsavas-cq7tp
5 ай бұрын
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
@lordfordification
5 ай бұрын
I really messed up when I spent the $10,000 my grandpa left for me when i turned 18. I joined the army, spent the money on surviving life, then I was injured and received no benefits from the army. I'm 34, single, and I'm living check to check with $2k in the bank, wondering why people my age have multiple houses and boats and go on 4 vacations a year with their 2 children.
@AlexeiArntzen
11 ай бұрын
Take a quarter of the bonus and go on that fucking vacation. It will be worth it. Even if you have money when you're older, you won't be able to enjoy it the same way as when you can move without hurting all your joints.
@SophiaChristian-so2of
10 ай бұрын
Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence. As Warren Buffet said, he has seen this happen many times in his life. Not an investor, My husband and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock.
@AntonioBianh
10 ай бұрын
Most people do not understand the power of compound interest or are just impatient. However, for the average Joe, I think it's better to invest in the S&P 500 and wait, which is reliable, albeit extremely long: many years, or just use an investment advisor and speed up your wealth creation. Most people underestimate the power of the latter.
@MarkFreeman-xi3rk
10 ай бұрын
I agree with you. I started investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money with an investment advisor and in seven months raised almost $873,000.
@cythiahan8455
10 ай бұрын
@@MarkFreeman-xi3rk Any chance you can recommend who you work with for those of us who want to make the right plays now and be better positioned for a healthy retirement?
@MarkFreeman-xi3rk
10 ай бұрын
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. “Margaret Johnson Arndt” is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@JenniferDrawbridge
10 ай бұрын
Thanks, 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.
@Nperez1986
11 ай бұрын
Let's act like the power of the dollar stays the same for 40 years 😂
@ellingeidbo8469
5 ай бұрын
When I was a kid it was $1000 and when you turned thirty you'd be a millionaire. It's a scam. There's always some risk when investing, and by some I mean brokers don't day trade unless they want to lose a mountain of money. The math seems solid until you learn about how many sneaky tricks pros get to use when managing your money. Happy Churning folks.
@Netm8kr
5 ай бұрын
Smart Life Lessons aren’t encouraged enough. Being at my job for 30+ years now, I can relate to this video. Take some of those “frivolous” funds and put it towards your future while you’re young. Take control of your later years. ✊🏾✌🏾
@lartrak
4 ай бұрын
Reminds me, if you live in Alaska and can afford to, just have your kids oil dividends put into a passive fund. Tell them to keep doing it when they turn 18. They'll be able to retire like 5+ years earlier if you do.
@richard1493
4 ай бұрын
The critical key thing to remember about IRAs is that you need to verify if yours is self managed or not. Many people invest into their IRAs without realizing that they need to manually go in there and buy stocks, so they have money sitting in a savings account for decades thinking that they’re doing the right thing but nothing is growing.
@Vitone22
5 ай бұрын
Things like these should be taught in schools! Very important.
@RedWazzies
11 ай бұрын
Love this video! I started investing at 27… pretty early and I can see the benefit now and I am 38. I still wish I started at 18 though. My daughter is 6 and we have opened an investment account already and she has already started making passive income. It is one of the best ways to created wealth
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