*Let me know if you prefer to pay off debt or throw more money into investing? Thanks for watching and give the video a thumbs up!*
@cheyenne3882
5 жыл бұрын
When the employer matches up to 5% it’s too good to pass up
@marcricker2570
5 жыл бұрын
I prefer to pay off debt.
@shannongiuffre3478
5 жыл бұрын
Pay off debt
@jk4794
5 жыл бұрын
invest
@camaraderie6
5 жыл бұрын
Hi Marko, this is Tom. First of all I give you a big thumbs up for all your videos. Regarding to your question if there is a debt I would prefer to add something extra maybe at least 10-20% on top of the monthly payment to decrease the APR ratio as quick as possible and the rest of the money on savings/emergency fund and investments. Off course everything depends on monthly income if flexible or not but if fixed rate than make it flexible using some other income options with “side” jobs like uber driver, valet etc...
@insure4cheap
2 жыл бұрын
The primary goal should be to pay down your debt first, not for credit reasons, not for investment reasons, but for controlling your life reasons. When you get a chance to walk the earth knowing you don’t owe anyone anything, that’s freedom!!! 🤷🏾♂️✊🏾
@MrMiniPancakes
2 жыл бұрын
Wrong
@MrGrenade121
Жыл бұрын
@@MrMiniPancakes No your wrong
@captainsoi
Жыл бұрын
@@MrGrenade121 *you're wrong
@socratease4645
Жыл бұрын
Look, I know that I can pay for my house mortgage three times over. So no, I have a mortgage, I feel free.
@harrisonmichael5047
Жыл бұрын
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.
@raychristopher7797
Жыл бұрын
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.?
@harrisonmichael5047
Жыл бұрын
@@raychristopher7797 I invest across the top markets but not by myself though. I follow the guidelines of *PRISCILLA DIANE AIVAZIAN* . you might have heard of her. I can correctly say she's worth her salt as an investment advisor as her diversification skills is top-notch, I say this because I see that in her results as my portfolio grows by averages of 20 to 3O% every month, unlike I can say for my IRA which has just been trudging along. my portfolio just mirrors what she places and not just on some particular industries of my choosing. she gave me that financial freedom I needed
@raychristopher7797
Жыл бұрын
@@harrisonmichael5047 That’s great, your investment advisor must be really good, I have seen testimonies of people using the help of investment advisors in making them more financially stable. Do you mind sharing more info on this person?
@harrisonmichael5047
Жыл бұрын
@@raychristopher7797 look her up on the internet with her name. she's quite popular for her services as she was recently featured on CNN. She can work with anyone irrespective of where you're located
@raychristopher7797
Жыл бұрын
@@harrisonmichael5047 I just looked up this person out of curiosity; surprisingly, she seems proficient. I thought this was just some overrated BS, I appreciate this.
@benbabcock3818
5 жыл бұрын
Debt free living leaves you with many more options and way less stress imo
@WhiteBoardFinance
5 жыл бұрын
agreed!
@jahsonharris713
5 жыл бұрын
Sooo much less stress bro.
@mrpmj00
5 жыл бұрын
@@WhiteBoardFinance 36 thumbs up for Ben and 686 for Marko are a lot, but that's why most people are NOT the top 8% net worth.
@steveday5038
5 жыл бұрын
@@WhiteBoardFinance just sold my house(stressor), used the money to pay off cars, also bought a triplex, less stress lol.
@beastydude123
5 жыл бұрын
Must be nice. Really feel bad for the suckers at university from here onward. Way too expensive, the risk vs. reward is just not there anymore. Get your degree online, kids.
@veramonique1724
2 жыл бұрын
Investing in the stock market is the most common way for beginners to gain investment experience.
@samuelreyes7156
2 жыл бұрын
The decision to invest is an acknowledgement that it comes with certain risks. Not all investments will do well and some may lose money. However, without risk, there would be no opportunity to potentially earn the higher returns that can help you grow your wealth.
@danieljamal3709
2 жыл бұрын
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal.
@veramonique1724
2 жыл бұрын
Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline. Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
@devdaniel3225
2 жыл бұрын
who would you endorse ? I've have been in the shadows for too long
@veramonique1724
2 жыл бұрын
*PRISCILLA DIANE AIVAZIAN* is an expert who does the heavy lifting for me, she makes stock research and adds my portfolio with stocks for monthly and yearly earnings.
@travolous
4 жыл бұрын
I love that Marko talks like he's having an actual conversation, not like every other KZitemr who can't figure out how to talk normal when the camera is recording.
@aleemkarimi948
4 жыл бұрын
This is my second video, you are spot on, he really knows the way of how to interact on you tube !!’ 👍🏻
@josephboamah3755
2 жыл бұрын
This is so true bro
@zyilund
4 жыл бұрын
I pay 80% into debt and 20% into investment.
@LiamR90
4 жыл бұрын
Don't bite off more that you can chew. Get rid of the weeds before you start planting.
@iamirish4361
4 жыл бұрын
Being debt free is a tremendous feeling. I wish I had invested when I was younger. We never think we have the money then, and there was no financial education provided in school. We need to learn this as teens, and no later, when time is on our side. Marko, you would be excellent at directly teaching young people about finances.
@batman9512
5 жыл бұрын
Minimal to no debt changes how you approach job interviews. It becomes more of a conversation than an interrogation.
@mfgunit
3 жыл бұрын
You interview the job, the job does not interview you.
@Mike-op5us
3 жыл бұрын
Absolutely true..i moved to another country with no education and still managed to think that way..got hired as a assistant manager in a restaurant..then I quit..got hired again in the quality department of a big marketing company..then I quit again and now work as a sales manager..no degree nothing...all about motivation and how you truly look at things
@bradvincet1848
Жыл бұрын
People who are in debt always show their cards by being job-scared.
@MarcusFred-wn3iv
Жыл бұрын
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
@BrunoLuke
Жыл бұрын
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
@MarcusFred-wn3iv
Жыл бұрын
@@BrunoLuke In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
@BrunoLuke
Жыл бұрын
@@MarcusFred-wn3iv Please provide the information for your investment advisor here. I really need it now.
@MarcusFred-wn3iv
Жыл бұрын
@@BrunoLuke She is KRISTIN GAIL CUNNINGHAM , my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@BrunoLuke
Жыл бұрын
@@MarcusFred-wn3iv sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.
@RealLifeMoney
5 жыл бұрын
*I believe paying off debt should be the primary focus. The interest rates are usually higher so theres a better return right there. But also do to the fact that the money you save is guaranteed because you pay it off, risk free. Once debts decrease cashflow increases and that increase in cashflow can be used for much larger things in life.*
@WhiteBoardFinance
5 жыл бұрын
Agreed, thanks!
@TRLgoodvibesdotcom
4 жыл бұрын
Larger like what? After paying off the house what’s left? Saving for retirement? Boooo-riiiing.
@Trplr4life
4 жыл бұрын
@@TRLgoodvibesdotcom going on trips, buying higher quality items, helping people out, etc. There's a ton you can do once your debt is paid off
@TRLgoodvibesdotcom
4 жыл бұрын
Coulson Thomas yeah I think helping others is kinda new to me but thats the best. Sad that it took so long for me to think about it. I just loaned my sister to 12k to pay off her cc debt immediately. I always tipped big because i grew up working a tip reliant job, but now i tip psycho fat. Ill keep my eyes open for more opportunities to help those in need. ✌🏼🕊
@andre3k658
3 жыл бұрын
What if I have 0% interest on my car?
@MrJayk786
5 жыл бұрын
Clearing debt especially costly ones like credit card debts is a priority. Once the high cost debt is cleared then a combo of clearing remaining debt and invest as well is what I think is the way to go.
@510jesus
5 жыл бұрын
I believe the rule of thumb is: If your interest rate is higher than 5% then definitely pay that off first
@WhiteBoardFinance
5 жыл бұрын
agreed
@elle_aire4789
Жыл бұрын
Mine is 17.99% and I wanted a direct answer like this. Thank you
@510jesus
Жыл бұрын
@@elle_aire4789 that's a criminal interest rate. You should definitely pay that off ASAP
@elle_aire4789
Жыл бұрын
@@510jesus lmao I totally agree
@ktriebol
5 жыл бұрын
I say pay off debt first just for the peace of mind. What if you decide to invest while you still have debt, and the investment goes bad (like it will do from time to time). Then you lost your free cash and you still have the debt.
@LouisJanYoung
5 жыл бұрын
Live debt free. Gives you many more options in life. Remember, when you invest in the market, there's always a possibility that your money can lose value. Best to set a budget, live within your means and be debt free. It's very liberating!
@jz4461
5 жыл бұрын
Your statement about losing money depends on time in the market. Might be fairly likely if you invest for a year, but highly unlikely if you invest for 5+ years.
@XxChuyoxX
5 жыл бұрын
Louis Young Holding onto cash for too long is much worse. It will lose value much faster.
@storypunman
4 жыл бұрын
You should pay off debt first unless you actually know anything about investing. If you have to invest with a company then you will likely get a crap rate of return. Pay off debt while you learn to invest yourself. Learn the right way, then learn Options, that is where you will really start making money. Derivatives is the way to go, takes a while to learn, but will pay off.
@fredbecker607
5 жыл бұрын
Being retired and no house payment is great. Used small part of 401k to pay off the balance. Now just living off retirement and watching 401k grow.
@WhiteBoardFinance
5 жыл бұрын
nice!
@TheChrisChannel1000
4 жыл бұрын
Fred Becker how do you open a 401k
@lography6917
3 жыл бұрын
"The economy we may be entering" damn, this is very on point today - I bet people without mortgages were happy they made the decision to pay off debt before the pandemic happened
@cokemachine62590
5 жыл бұрын
“Personal finance is financial and it’s personal.” Mind blown 😂 Just poking fun, love your content man!
@WhiteBoardFinance
5 жыл бұрын
water is wet 😀 lol
@brandonwojcik9508
4 жыл бұрын
I wish I had known this sooner! They never taught us such things in school! Lol! 😄
@najeebammarharb853
4 жыл бұрын
I would say Invest!. Because by investing you end up paying off debts and still keep getting returns from your investment but it solely depends on the kind of investment you initiated. On the otherhand if you pay off debts first you end up with nothing....💯
@coachkarenjohnson6515
4 жыл бұрын
I totally agree to this. I have always recognized Investing as the only key to success....
@momof3982
4 жыл бұрын
Hello Simon. Please what type of investment is recommendable for a low income person(long term investment), with the best returns.
@martinherbert3039
4 жыл бұрын
Yes Investing ensures present and future long-term financial security. The money generated from your investments can provide financial security and income.
@najeebammarharb853
4 жыл бұрын
Sophia The most common and arguably most beneficial place for an investor to put their money is into the stock market. ... Investment Bonds. ... Forex Market...... Mutual Funds. ...,
@salvadorcosta4364
4 жыл бұрын
Forex is a very strong investment, in forex trading, a small deposit can controI a much Iarger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capitaI to a minimum.
@anonymousfinance-subcribe5268
5 жыл бұрын
If your loan payments are 600 it’s really more like 800 because of taxes I would say pay them off first because the stock market returns aren’t guaranteed! By paying off debt you get immediate return
@JoshuaMackos
5 жыл бұрын
Yeah too many finance channels take it to interest rates and do what's going to get you the best ROI. But really if you got bad debt (student loan, car loan, credit card, payday loan). I'd say kill those first no matter what then start investing
@WhiteBoardFinance
5 жыл бұрын
Agreed. Knock it out early then chill
@alantinoalantonio
5 жыл бұрын
Not if you owe 100k plus in student debt. You gotta do both bit by bit.
@JoshuaMackos
5 жыл бұрын
@@alantinoalantonio I had 100k in student loan debt. Paid 80k of it off over the last 12 months by making very intentional decisions. You do not need to sacrifice years of compounding investments by just getting intentional and killing that debt asap
@Koushi82
4 жыл бұрын
@@JoshuaMackos depends on interest. I'd say get the 100% match and call it then put everything in student loans if the interest are pretty close or higher than returns.
@eezy251able
4 жыл бұрын
Mortgage is not bad debt. You're buying an asset not to mention security.
@braydensfinance7105
5 жыл бұрын
Living without debt might not make as much financial sense but it makes phycological sense when you are living a stress free life
@WhiteBoardFinance
5 жыл бұрын
agreed!
@AnimalMother60
4 жыл бұрын
What if you’re somebody that can live with a higher degree of stress?
@sheribrooks8205
2 жыл бұрын
This reasoning is so simple and sound; I plan to discuss this with the spouse. If he listens, we can hit my goals faster; if not, it'll take 3 extra months. I say MY goals because debt doesn't bother him like it does me.
@primusro
5 жыл бұрын
What I ended up doing was to push forward and completely pay off my apartment. This gave me a lot of confidence when investing, mostly because it made me understand that if shit hits the fan, I still have my home to fall back to. Since then I bought other apartments with maximum credit duration and I'm very relaxed.
@WhiteBoardFinance
5 жыл бұрын
nice Radu
@beastfromtheeast9318
5 жыл бұрын
I learned that the people who say to invest instead of paying off debt are the people who never really experienced what it’s like to live with no consumer debt (credit card, car payments, student loans etc). So they never really know what it’s like to actually feel like you got paid when it’s payday or you can go out to eat when you want to or book a vacation getaway at the spur of the moment.
@WhiteBoardFinance
5 жыл бұрын
very well could be the case, thanks for sharing
@jamie49868
5 жыл бұрын
That spur of the moment spending is probably why they have debt to bein with. It's not likely that they that had an extra $1000 and said "gee honey should we drop this on the CC or put into the market?". People with debt problems of their own volition tend to keep having debt problems.
@rdc323
4 жыл бұрын
Debt sucks for regular people but for companies is a big tax shield
@DanielIles
5 жыл бұрын
Completely depends on the debt. Debt that you can’t kill with bankruptcy like student loans or IRS debt. That should probably come first.
@DanielIles
5 жыл бұрын
Tyrone Jackson IRS debt for payroll taxes doesn’t either
@dushennagesur9350
5 жыл бұрын
Similar philosophy to Dave Ramsey- paying off debt has huge mental benefits
@WhiteBoardFinance
5 жыл бұрын
agreed sometimes numbers don't tell the whole story
@WendellLive
5 жыл бұрын
Marko, I love your style. I’m over 60 and while I’m not as knowledgeable as you and can’t explain things like you, I know most of the concepts you discuss. But, your style makes me feel like we are friends and just talking about stuff. I so enjoy watching your channel. Keep going with your channel.
@WhiteBoardFinance
5 жыл бұрын
lol thank you!
@angeliqueramin6177
Жыл бұрын
Folks will be losing lots of money $$ in the Crypto markets due to the crash on Crypto's and lack of trading Education. Some just buy coins and move into trading without proper technical analysis to back their decisions.
@misasylvester3744
Жыл бұрын
Sam Deymon trade are so helpful and useful and at the same time very easy to learn.
@grzegorzed8930
Жыл бұрын
Sam Deymon commitment is greatly appreciated, thanks to him!👍
@gustawlukasz6719
Жыл бұрын
@samdeymontradintips THAT IS SAMDEYMON USER NAME
@gustawlukasz6719
Жыл бұрын
He's verified TE LEG RAM....
@micknatan4403
Жыл бұрын
Thanks for the contact info, I will connect with him shortly.
@HQuintana867
5 жыл бұрын
Thanks, Marko! I watched this and refi'd my mortgage at a lower rate and combined my debt in the process. By paying it off early, I'll only end up paying 2.09% on all my debt, as opposed to 18%, 3.5% and 7.5%. I'll be saving thousands!! Keep up the great work!
@johnyracercat
2 жыл бұрын
Did you go back into credit card debt again? That's the part people miss. Using home equity to pay off debt, only to run up bad debt again.
@joshdavis7311
5 жыл бұрын
I pay off debt first. I want to be debt free by the end of the year. 3 debts down, 3 to go! Then afterwards, I'll worry about my investments that will be already growing by the time they are making me money.
@WhiteBoardFinance
5 жыл бұрын
Good luck Josh
@AverageJoeInvestor
5 жыл бұрын
*GREAT VIDEO MARKO* | Putting the math aside, the other consideration HAS TO BE how debt makes you feel...if it is a 50 lb weight on your shoulders and keeps you up at night, maybe it’s best to GET RID OF THE DEBT. Personal Finance is more than just math, it’s mental as well. GREAT VIDEO MARKO! 😎👍🏻
@WhiteBoardFinance
5 жыл бұрын
Thank you and agreed
@LadyR489
5 жыл бұрын
Average Joe on Money well put
@MISJPEREZ
4 жыл бұрын
Thank You,I’m taking aPersonal Finance class in college, after losing job, debt and could have saved more on my Emergency fund. But!!! I Will Succeed. I just will.
@calvinraab8798
5 жыл бұрын
Love how it comes down to basic mathematic principles. Allows you to take your emotions out of it and make smarter decisions.
@WhiteBoardFinance
5 жыл бұрын
yup
@ethansmith2499
3 жыл бұрын
The stock market has plenty of opportunities to earn some decent payouts. Traders can benefit from identifying and drawing trend lines, successful trading is all about risk control. making reasonable profits in the stock market is easy with the right skill, patience and the right setup.
@bernardogutierrez8392
3 жыл бұрын
I wouldn’t say it’s easy making profits in the stock market, I’ve been making more trade losses than profits for over 4 months.
@amandafoy4455
3 жыл бұрын
the stock market is indeed lucrative, and trading eventually pays off, most traders are too eager to make quick buck and unable to wait for the right trading setup.
@ethansmith2499
3 жыл бұрын
@@bernardogutierrez8392 Waiting for the right trade opportunities requires patience, and it takes skills and intuition to come up with any tangible profits in the stock market. I’ll advise you invest with a reliable brokerage for more profitable trades.
@jamesowen9384
3 жыл бұрын
Investors should anticipate the factors that impact portfolio performance and make decisions based on their expectations.
@bernardogutierrez8392
3 жыл бұрын
@@ethansmith2499 actually I’ve been considering getting an expert to guide me, I’m currently trying to get a genuine and profitable one.
@marketmaestro4089
5 жыл бұрын
Love not having debt. Can't beat it.
@WhiteBoardFinance
5 жыл бұрын
same
@burningbelow4424
3 жыл бұрын
Always pay off your debt first! So you know you are 100% financially free!
@JustineCarissa
4 жыл бұрын
Great video. I have two more months to go until I’m debt free!
@WhiteBoardFinance
4 жыл бұрын
That is awesome!
@sanoski24
5 жыл бұрын
Love the video! An emergency fund is a must when it comes to finance. Individuals can't predict what will happen to them, and if you have an emergency fund available it alleviates a ton of stress!
@WhiteBoardFinance
5 жыл бұрын
Agreed!
@redchersonese2444
2 жыл бұрын
Marko, you're absolutely correct. Hv lived long enough to say that with conviction.
@PAPERCHASERCH47
4 жыл бұрын
Well this answered my questions. I'm just now getting into the investment game but I got to pay off some debt first before I go all the way in. Amazing video!
@kimsiewers
5 жыл бұрын
Always be investing, no matter what. The personal debt can linger; you cannot make up for lost time compounding dividends and capital gains. Buy capital appreciation stock mutual funds from Vanguard, T.Rowe Price, Fidelity, and keep buying. Some people make the huge mistake of waiting; "I'll start saving/investing as soon as I pay off X." Waiting for any reason means lost time; lost time means lost capital appreciation.
@jackwyatt9649
2 жыл бұрын
The best way to find that balance between saving and living is by investing.. Anyone who intend on achieving financial freedom and early retirement should take good advantage of the stock market and the crypto market
@CleanSC
5 жыл бұрын
Solid info as usual. The answer is always the same: debt sucks! Compound interest works both ways: I'd kill that debt Dave Ramsey style then after it's paid, go another year on them beans and rice and what you have saved up over those 12 months, throw that into your investments. A solid head start will go a long way over the long term. Starting with $1k is worlds apart from starting with $10k. After that, tone it down and breathe a little and live easy knowing you got a solid start at your retirement.
@icemanvf143
5 жыл бұрын
I literally had this conversation with my coworkers today! It started because people have this assumption about me because I live with my folks. And the ONLY debt I have is a school loan that will be paid off with minimum payments in 2021. Really want to maximize my $$$ but I have a STRONG mindset of getting rid of debt which is what you seem to lean on here...
@WhiteBoardFinance
5 жыл бұрын
debt is dumb
@jerseygurl63
4 жыл бұрын
Marko, I've watched three of your videos so far and they have really helped me to feel some relief from what I am going through right now. Even though you are talking to a camera, I do feel like you are talking to just me but at the same time I feel like I am not the only person experiencing financial difficulty. Your videos make me feel empowered, like I can tackle my problems, and there's a way out. Thank you!
@mannydavidcastillo1109
5 жыл бұрын
Pay off debt study the housing market where you live/if renting is cheaper and you don't have a family rent/invest and save..
@edugohn
5 жыл бұрын
Best channel on finance by far! Long life to it!!! Salutations from Rio de Janeiro, Brazil 🇧🇷
@WhiteBoardFinance
5 жыл бұрын
thank you sir!
@godfearingwomanilovejesus2840
5 жыл бұрын
Thanks for this video, pay off debt first! Then save all the money you can in emergency fund
@cameashapowell1961
2 жыл бұрын
I’m doing both at the same time because every time I say I can’t I need to clear up my debt I add more.
@CosgroveNotts
5 жыл бұрын
Pay off debts for sure. Great life having no debt. I aren't even middle class but I've got more than most
@WhiteBoardFinance
5 жыл бұрын
very cool great job
@jimhandler1129
3 жыл бұрын
Never understood how people cannot be interested in money. It is the nucleus for everything we do.
@aersn4locs
3 жыл бұрын
Some people aren’t materialistic and god says only the poor will be accepted into his kingdom
@NateOBrien
5 жыл бұрын
Illustrations on point
@WhiteBoardFinance
5 жыл бұрын
Marko Van Gogh
@UltimateTexasHoldemGuru
4 жыл бұрын
15 year mortgage- House paid for at 42 Credit card balances paid off every month - cash back on everything I buy Max out 401k every year Great credit score
@WhiteBoardFinance
4 жыл бұрын
Nice
@ericmlcoch3434
5 жыл бұрын
I was just thinking of requesting this video from your channel! I'm glad you beat me to it. I've crunched the student loan vs 401k numbers every year and found my balance. Able to do both for now with an aggressive plan on the student loans. This video kept me grounded and focused on the debt free life!
@IsaacMedrano
3 жыл бұрын
I started tackling the debt while contributing a small amount towards a Roth ira and towards an emergency fund (start date Aug 2019). In 2020, I started to increase my savings rate by 1% every 2-3 months and whenever a chunk of money came in I split it between an emergency fund and my Roth. Feb 2021 I paid off my revolving credit card debt (4 credit cards) and built the habit of paying off the balance each month ( 1 personal cc and 1 business cc).
@dylongarrett4779
5 жыл бұрын
I like the idea of paying off debt while simultaneously investing at the same time. It’s a good way to steadily become debt free while getting something started for yourself for motivation
@RealLifeMoney
5 жыл бұрын
Thats a good point, maybe contributing to a 401k to gain that benefit at the same time of paying debt off
@WhiteBoardFinance
5 жыл бұрын
A man who chases two rabbits catches neither
@budgetfor5withstephanie
2 жыл бұрын
this subject is a constant mental tug of war for me. its like two rights so how do u choose lol. u made some great points to help with deciding which is best for u.
@megaboom69
5 жыл бұрын
Pay off debt first for sure and try and still invest what you can. 💵💵💰💰great content
@WhiteBoardFinance
5 жыл бұрын
Agreed thanks Steven
@jonathanfarquhar
3 жыл бұрын
Super helpful video! Even though my debt is a low interest government student loan, I never thought about how it's a guaranteed loss compared to uncertain gains compared to investing.
@nelizajoey26
5 жыл бұрын
debt free = financial peace save first before investing extra savings invest it
@mrsuitcase9799
5 жыл бұрын
Which is better? Depends on the debt interest rate versus expected investment rate of return. But WHOA! It's not that simple. Consider that you're paying your debt interest in AFTER TAX DOLLARS. Also, if your investment isn't tax sheltered/registered, you're paying tax on the investment income. All of a sudden, paying off a 5% interest debt can be way better mathematically when tax is taking into account, then earning a 6% investment return, (depending on your tax bracket, of course).
@WhiteBoardFinance
5 жыл бұрын
all good points thanks Justin
@rafaelgonzalez6158
5 жыл бұрын
Hey Marko, I’ve been watching your videos for several months and let me tell you something buddy, you have done a hell of a job. Very valuable information, no mediocre advices no crap, right to the point. Keep it up brother. I follow several finance channels and you should have 5 times the views and subscribers you currently have base on the quality of your content. Keep doing what your doing.
@WhiteBoardFinance
5 жыл бұрын
Thank you Rafael please share with your friends and fam!
@rafaelgonzalez6158
5 жыл бұрын
Marko - WhiteBoard Finance absolutely will do.
@davidmoulton5422
5 жыл бұрын
And thanks to you and your videos I have a down a lot of debt and have an emergency fund I've also started to educate my son in finances thanks to you so I believe that paying down debt is much better than the investment
@WhiteBoardFinance
5 жыл бұрын
my pleasure Dave :) glad I could help please share the channel
@Victor809Flow
5 жыл бұрын
Pay off debt first for me 🤙
@barbaraleszczynski2214
4 жыл бұрын
Victor809Flow Absolutely! Being debt free....is losing the hugest boulder off you back.....the weight is off and you can finally breathe......
@user-yy7sw5vg6r
3 жыл бұрын
Agree with the last statement, throwing in some mathematical analysis will give us paralysis..you're videos are very informative in a simplest way explaining finances that i never learned in school. Thanks! New subscriber here 🙋🏻♀️
@jackhawthorne1359
5 жыл бұрын
Great video! Very balanced approach. Consumer debt is a killer but debt is almost always necessary to build your asset column in real estate. Bottom line: be smart and conservative with your 💰
@WhiteBoardFinance
5 жыл бұрын
agreed!
@RemoteTactical
5 жыл бұрын
We live off 70% of my income. Invest/Save 10%, dedicated 10% debt payoff (we make extra payments on debts from this account), and still give 10% to charity.
@cjagz
5 жыл бұрын
9:00 saving is the worst thing you can do... Million doesnt give you much now days...never mind in 40 years from now... I guess it also depends on your cost of living. Aside from that, great content ma man.
@WhiteBoardFinance
5 жыл бұрын
Thanks Chris!
@ig3646
3 жыл бұрын
you're both educating and entertaining with your jokes haha...analysis paralysis. i'm in the medical field so maybe thats why i chuckled at that....nerd humor
@roadrunner76b
5 жыл бұрын
Could you do a video on investing and saving when starting late in life? I'm 42 and just now got the mindset of saving and living debt free. I now have an emergency fund, no debt besides mortgage, but time is not on my side for a strong retirement. I wasn't taught to think in terms of saving and investing, and now that I am thinking that way, I'm so far behind it's like I'll never make it up.
@onlinelab7761
4 жыл бұрын
Write to me . I have an investment for you. ( ancientmagicalarts@gmail.com )
@Adam-ui3ot
4 жыл бұрын
No reply. Why is that.
@roadrunner76b
4 жыл бұрын
j I ended up setting up a Roth account a few months ago. I hope to get to a point where I can invest the maximum amount
@Adam-ui3ot
3 жыл бұрын
@@Dom-xi8je 😂
@babybruce8256
4 жыл бұрын
I’m for paying off debt myself nice to see like minded folks
@fordayz8834
5 жыл бұрын
Be debt free and then invest or else Dave Ramsey will scream at me lol
@brandonwojcik9508
4 жыл бұрын
Amen to doing the baby steps in the right order! You'll be double minded by investing and murdering that debt at the same time.
@storypunman
4 жыл бұрын
You should pay off debt first unless you actually know anything about investing. If you have to invest with a company then you will likely get a crap rate of return. Pay off debt while you learn to invest yourself. Learn the right way, then learn Options, that is where you will really start making money.
@InvincibleMegaBeast
4 жыл бұрын
try paying off debt while investing a little and enjoy yourself...you cant take money with you when you're dead.
@CryptoLuke10K
4 жыл бұрын
Zarkon u don’t take the debt either....
@sloyilegu5381
3 жыл бұрын
@@CryptoLuke10K gh tu tu
@jimhandler1129
3 жыл бұрын
Pay off debt first. Those that complain about not getting the 401K match, too bad. You're not there yet and the quicker you pay off debt, the quicker you can start investing. Need to be self disciplined.
@karenonthelakestamper
4 жыл бұрын
Great video!!! I am not in m 20's so I am saving and taking care of debt, Hard to do at times when you are divorced, but it can be done!
@NotBen101
5 жыл бұрын
In inflationary times it makes sense to pay off debt because money is cheaper and easier to come by. During deflationary times it makes sense to invest because you can purchase more stock a smaller amount of money. For now paying off debt, especially high interest debt, makes sense. However, if most of your debt is low interest and doesn’t fluctuate it will still make sense to invest, regardless of the economic conditions.
@WhiteBoardFinance
5 жыл бұрын
Paying off high interest debt makes sense. Mortgages right now, not so much
@richardromito926
5 жыл бұрын
Right Again Marko, Better to pay off debt, there are some sites that lets people practice playing the stock market without putting in real money. A good start for amateur day traders.
@WhiteBoardFinance
5 жыл бұрын
very true thanks rich
@demetrius7032
4 жыл бұрын
Marko you are a smart man!!! This is a great video!!!!! There’s nothing like being debt free!!!
@andrewfred6799
4 жыл бұрын
Hello Demetrius Lawrence, gina@creditmasterfixllc,com helped me payoff my $126k i owe... I would forever be grateful to her
@oliviajohnson7457
4 жыл бұрын
Hi Lawrence, Gina also helped me... You can just go to their website on CREDITMASTERFIXLLC,COM and see things for yourself
@demetrius7032
4 жыл бұрын
olivia johnson OK cool thanks for the info!!!
@coltukkor
3 жыл бұрын
I think debt is the key to building wealth for middle class citizens. We are taught all debt is bad.However properly invested it can slowly build passive income.
@arnoldfranco9240
Жыл бұрын
I am going to stop my 4O1k contributions, pay my off my debt in 2023 and go back into investing. Thank you Marko!
@nomad7412
5 жыл бұрын
Always thumbs up for you Marko. As an old guy, I am now, too old to react to all of what you are advising. However, I agree with all that you have said. My wife and myself have always taken the view that debt is bad and basically loses you money (makes sense?). So we have always paid cash for what we can afford and if we can't afford it? TOO BAD ! It has always been the case with us that as long as we have each other, the rest can wait and if one day we get to afford other things? Then we don't have problems of repayments etc ( et cetera not ec cetera, etcetera) ( me being pedantic for fun lol ). Our problem at the moment is how to find financial advice. We are from England but now live in Australia (17 years). We worked and have private pensions which are still in England. I am retired but my wife still works. Because she is 9 years younger than me, I want her to get as much of our pensions as she can get after I'm gone. Financial problems come with our lives regardless of debts etc. We are at a time when, looking back on our past, we ask questions like did we do the right things. I believe we did and investment of even a small amount was never on our minds. Your video has allowed me to see that way back then, even a very small amount of investment can work for us. I believe that in todays' (old school grammar) society, we don't think about our financial future enough and while I still have reservations on insurance companies, think that investment is the way to go. In Australia it is still a property investment society, however, even though I feel too old to invest in that side of the market, I am of the opinion that your advice for younger generations is sound. I am of the opinion that money can't buy us ( for those that feel that way ) is a magical life with a magical wife. Stay happy and love 'till you die. Good life young man.
@WhiteBoardFinance
5 жыл бұрын
Thanks for sharing and for the kind words
@skoopqueen
Жыл бұрын
I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this
@eadad4371
Жыл бұрын
Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated..
@starry_config
5 жыл бұрын
Omg yes. I’ve been researching this all week trying to figure out what to do. Came to the conclusion I need to get rid of my student loans because I require freedom with my life situation. This just reiterated for me that there’s more to it than just numbers. Thank you.
@WhiteBoardFinance
5 жыл бұрын
Well said. More to life than numbers
@anisswu4807
4 жыл бұрын
To point Marko! Love you videos! Cheers from Morocco!
@derekverge9327
4 жыл бұрын
First thing I'm doing is paying off a car loan at 4.94%. This is just to increase cash flow, then tackling my wife's student loans.
@LinhLe-sx6lk
5 жыл бұрын
Thank you Marko for another great video. My sister has 200 k mortgage loan with 3 % interest. Should she pay off that loan now. Her tax rate is 30%. I just found your channel a few days ago , love it so much . I talked to my sister about you, and discussed about should we pay off mortgage loan off. Your video came just the right time. My sister is 52 years old.. thanks a lot.
@WhiteBoardFinance
5 жыл бұрын
3% is very cheap money, I wouldn't rush to pay that off
@whatsthesitch4983
5 жыл бұрын
I loved this video! You are literally all I watch on KZitem now lol. Keep up the good work man🙏🏻
@WhiteBoardFinance
5 жыл бұрын
thank you!
@LatinGhost916
4 жыл бұрын
Been watching Dave and Marco and now my mindset is different now I feel like I’m making progress on my financial situation. Thanks
@OscarMartinez817
5 жыл бұрын
Definitely pay off any debt you have over 4% because after you add in inflation which is another 2-3% you’re looking at a total of 6-7% loss in interest already. The average return of the stock market is around 7% so you will either be losing money or barely breaking even. 🤔
@frequentlycynical642
5 жыл бұрын
You have inflation backwards. Debtors love inflation, they pay it back with dollars worth less.
@AxelQC
5 жыл бұрын
Paying off debt is 100% pure, guaranteed return. The only real questions are if there are tax implications like a mortgage, or if you get an incentive to invest like a 401k match.
@WhiteBoardFinance
5 жыл бұрын
agreed
@cherylstrickland4084
5 жыл бұрын
Marco, you talked about how to invest if you are 21and I know you can't cover everything but what about if you are older. I am a 58 year old widow, things look very different for me. Maybe you could address this in another video.
@sgist7824
4 жыл бұрын
Sorry for your loss ♥
@matthewbutner8696
4 жыл бұрын
If you are older you have less time to ride out the down periods of the market and see your investments recover and become profitable. Because of this I would prefer the guaranteed interest of paying off debt if I still had any. If I had no debt, I would need to consider my ability to absorb loss and my shortened investing timeframe. I likely wouldn’t be willing to lose much and my shortened investment window increases the odds of me losing money so I would probably weight my portfolio more heavily towards bonds than stocks. At the very least you should move your money into a high interest savings account if you haven’t already because it is free money without any risk. Banks like Ally and Popular Direct offer interest rates between 1.7% -2% while most major banks offer something close to 0. You also need to consider your cost of living and how long you think you might live after you retire and figure out how much you need and then backtrack from there what your investments need to make to cover that. This might lead you to realize you need to consider retiring later or making different living arrangements. Finally I would recommend that you start actively start researching investments and retirement immediately. Time is really important when it comes to both and waiting for someone else to come along with the answer is likely going to take to long. There are lots of books on the subject but you are right that most of them are geared towards younger people. So you are going to have to look harder for advice that fits your situation. I wish you the best of luck in finding the answers to your questions.
@wadjias4246
2 жыл бұрын
Another GREAT video. You are wealth of knowledge. Thanks a lot
@rickayer2211
5 жыл бұрын
Defiantly pay off debt. We're retired, 72, no debt, just T&I, utilities and insurance. Putting $2k a month in savings. Lots of programs for young folks. Any thoughts on doing a show for old folks? What do I invest in?
@WhiteBoardFinance
5 жыл бұрын
Nice thanks for watching Rick
@wipedlensfotos
5 жыл бұрын
Why do you need to invest now at 72?
@rickayer2211
5 жыл бұрын
Would like an investment plan grandchildren and soon to have great grandchildren.
@rickayer2211
5 жыл бұрын
Don't have to go to the museum, I was at woodstock, LOL
@WhiteBoardFinance
5 жыл бұрын
LMAO!
@r.t.hannah9575
2 жыл бұрын
I think being debt free minus your home mortgage is the best middle ground. I have my car paid off, but I have an extra savings account I pay into as if I’m paying off a car so that in 5-10 years when I need another one I can buy it out right and pay no interest!
@davoncci
5 жыл бұрын
Which of these apps do you recommend? 1. Stash 2. M1 finance 3. Betterment
@WhiteBoardFinance
5 жыл бұрын
They're all good in their own way. Betterment is probably best
@KnockoutInvesting
5 жыл бұрын
Robinhood
@danielvassar3219
5 жыл бұрын
KO Investing Robinhood just ripped off a bunch of people.
@bradley6386
5 жыл бұрын
Stash puts your funds into vanguard ETF's but takes a cut. Skip the middle man (Stash) and just invest in vanguard ETFs. If that's what you want.
@christopheraquino4711
4 жыл бұрын
Walden University ad again.. they have massive advertisement. Just finished my Master degree with them, now I know why they charge so much due to ads
@ashliebruce7503
5 жыл бұрын
There is one thing that is always missed with the whole debt v investing videos misses. That is the effect of time. If I start investing now, and paying off my mortgage as well (with regular payments, not extra) and another person puts all their money towards paying off their mortgage, they will never catch up. Good to see that Marko addresses this in his video. Do the maths. If you start investing now, you'll be very glad in 15 years time. Plus, in 15 years time your mortgage will automatically be lower, because you will be paying it off with 'future' money (that's worth more).
@WhiteBoardFinance
5 жыл бұрын
BAM! lol nice Scott
@TaylorZ2
5 жыл бұрын
Time is the greatest tool for building wealth! I'm with Scott, and bi-weekly 15 year mortgages are the greatest tool for building equity- although I realize that's not always possible.
@KevinSmithdc
5 жыл бұрын
I have a professional degree (doctor of chiropractic). When I went into repayment, I owed $185,000.00. I now owe $45,000. Getting rid of this student loan debt is like taking a noose off your neck.
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