When someone asks me for money I’m going to say “sure! Let’s sit down and get all the details!” I’m talking about hours and days of looking at statements, making plans, getting reports, and me constantly getting in their business at dinner time, at lunch, on vacation. It’ll be a blast.

Is the U.S. social security and a small pension taxed ?

This defintitely was such a cool and great video on stocks and personal performance. Who would've thought they could have built such an amazing portfolio and generational wealth after all these years of checking out stocks and investing...They're one of the best.

No! Family, friends, churches and all others do not get any money at all!

$25 a month, an 8% return, starting at zero, it takes 72 years to get to $1M. Each additional $25 a month will get you there 2-3 years earlier. Get your kids to do it, and they will be multimillionaires. Get your grandkids to do the same, and they will have 10s of millions. It's easily doable.

I can't tell, but are you wearing a "Soul Glow" shirt? 😅

Woowee, you did that intro like you are feeling that for real! Got me engaged, hook, line and sinker. 🎉 🎉🎉

A) Money borrowers: This is a situation that is most devastating for any family or friendship relationship. Some older people say, if the person was not there when you needed them, at your lowest point, then ignore them, when they only come to you for money. Some even use the grandchildren to get money from their grandparents! The lies that people makeup to get money from you are laughable; sometimes they even forget that they used the money lie previously. Many of us are not millionaires, but we face the same scenario. People lazily sitting at home, not working and mismanaging their money BUT they expect you to keep footing their bills. B) Saving money: agree, anyone can save $7,000 - 20,000 per year with a visible budget sheet. Just imagine , Only cooking at home (getting rid of two fast food meal orders), twice a day, you can save ($20 x 2 = $40 per day; $40 x 7 = $280 per week ; $280 x 5 = $1400 per month; $1400 x 12 = $16,800 per year!) Replace the fast food meals with making your own sandwich; soup or spaghetti. You have saved $16,800 in one year by cooking at home twice a day. Try it for one week and see how much you can save.

Thank you so much for laying out the anxiety that results from not having a financial plan. With a couple people in my life, I've seen the reverse, that clinical anxiety leads to difficulty looking at finances and making a plan. So they try not to think about it. And then sometimes spend money on "treats" to soothe woes, but without any kind of system. Then they have financial problems with bigger heaps of anxiety. (And one of them ends up stuck in predatory cycles of late fees.) And around and around it goes.

Thank you so much 🙏🏽

If a friend wants to borrow money, lend them the amount that you're comfortable giving away. If they return you the money, thats a friend you keep. If they dont, they won't come back to you ever again and you're essentially buying them out for an insignificant amount of money. Thats a Win/win!

I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.

If they ask me for money I tell them where to suck it and if they are lucky they might make fiddy bucks

Thank you for this message

This is so true. Learning to say "no" and prioritizing our needs at home first. We're financially stable, but we can do a lot better than where we are. Saying no to all.

I want something even more valuable than money from millionaires, and that is their time and attention for mentoring me. How do I get that?

When people ask me for money, I offer it for a simple service. Normally, yard or handyman work for less than a contractor would cost. Then I recommend they do that as a side gig. However, family members always prefer to leave the offer until the next crisis. I then offer less.

I might give a friend money in a situation. Especially if they are responsible and truly bad luck happens like lose your job and get cancer. Loan, no way.

I am teaching my niece and nephew about investing. I couldn’t be prouder of them. Only wish someone had done that for me when I was a young person. But, it is never too late. I’ve followed you for years and as you know, did your 365 which was invaluable. I also started keeping track of my spending by literally hand entering everything into a spreadsheet.once a month, I sit down and reconcile all my spending and put it into categories. Huge eye-opener.

I’m curious to know what you actually did tell that person that asked you for money.

we dont lend money we give it to them if we want to.The bible tells us the borrower is slave to the lender.

I make $30,000 a year as a single parent no government assistance, no child support. I own my own home . My sister's both have husbands earn $150,000 a year and have to call me to borrow money. I cut them off and told them they need to learn how to budget. Yeah I'm not the favorite sister now.

I can relate.

Loaning to friends and/or family members is a tricky situation. If you don't want the relationship to end, just give what you can. Because, unfortunately, you won't be seeing a return.

As a financially secure person, I tell all my associates how I deal with money. It would bother me to not track my 💵🍞💵 on an automated spreadsheet. It's hard to hide the fact that I have 4 cars and a house.😂😂😂 My commute is 40,000 yearly

People with money are the Gatekeepers of Capital. Be a good Gatekeeper, when you loan your friend money you loose your money and your friend. For a real emergency I suggest giving 25% to 50% of what they are asking for. And sometime just give them the money. So you dont loose them as a friend.

Glad you are saying this. I don’t lend money anymore.

This is by far your BEST video ever!! So true AND entertaining!!

Companies keep buying up all the supply. We need legislative action to limit how much of the supply can be controlled by large corporations.

Give ONLY what you can afford to Totally Lose. If at all 🤷🏿

It’s also difficult having friends that are not stable. It’s always something with them. For me, the relationship always turns into me having to take care of that person. Lending money becomes a part of the relationship. Each time I get a text I know at some point they will ask for money.

I had a friend ask me for money. I told him no and we’re still friends.

*Christina

I thought you were going to answer the question from the perspective of the person being asked. How do you answer that awkward question? Cause I sure as hell ain't sending them this video in response 😂

A little bit of money?!? I had an older brother and co-workers (supervisor) calling me like I am the money savior. Get it together.👏👏 I was a single mother and working in the military. You are crazy. I had to feed, to clothe, and to put a roof over baby girl. You are nuts. Money is a tool, and personal finance is personal. I hung up.

I have them sign a notarized legal agreement to pay me back, amount, date, times and interest rate, and they pay for the ppwk and administrative fees, and if they can’t agree to my terms and conditions, then we don’t move forward, long-winded way to say no, but it gives them an idea to ponder if it’s worth asking me and that’s the whole point

Never knew I had money until I made a budget a decade ago. The biggest key to success. Went from thinking I could never retire to retiring early.

Nah bro, u hit the point on this one broda!

When I was in my late teens (in the '80s) I had an older cousin who always asked to borrow $20 any time he saw me. My grandfather finally advised "next time he asks to borrow $20 loan him $10. As long he owes you he won't come around". My grandfather was right and it was the best $10 I ever spent. Also, your friend asking to borrow money and telling you that you can afford it, is a big breach of the Man Code. I grew up with and around a bunch of old school guys and "counting another man's money" was considered a major insult and fighting offense. It was tantamount to calling that man your B***h.

Can you spare me the golden cup of life where I do nothing and everyone else does everything for me thanks brother!

I sent this video to my sister LOL In the past I let her borrow too much money so she could have an apartment for her kids otherwise she was gonna be homeless and loose her kids to the state. She was supposed to pay me back but she never did and yet she keeps asking every once in a while for more money always coming up with new sad story emergency that she needs money. I'm so sick of it and I won't be taken advantage of no longer and could care less if she gets mad and never talks to me again for not giving her money. On a good side is that my Robinhood brokerage is looking good. Building a good portfolio is time consuming but definitely pays off for all the hard work 😊

But you didn’t say how to respond to the people asking for money lol

I appreciate the emergency fund, but I thought that was what credit cards were for. Emergencies. I have mine with zero balances just for that.

100% Facts, I’m passing this on to family and friends

I’m just curious Amon, how did/do you respond to that question? You didn’t say exactly. Do you tell them to watch your videos and hang up lol or do you say we don’t give out money but we will teach you how to make some?

Oh so exciting! What awesome swag. ❤🎉😊

People will always find ways to get you to part with YOUR money. Investment ideas, borrow, loan, subtle hint throwing, sob story, guilt tripping, etc it is so cringey😬 and unwelcomed. I'm getting angry right now so I will stop.

They will beg you underneath a table. You can afford it, you have more than enough, it won't hurt you, etc that is entitlement talking.

I have made the mistake of making loans to friends in the past. It changes the relationship. When you see someone who borrowed money spending it foolishly, you will judge them (it can't be helped because that is money you worked hard for and carefully saved). Rather if I feel there is a need, I give them the money and don't expect anything in return. But this is only a one time deal. I try to get them help to teach them about money. Give a man a fish, feed him a meal. Teach a man to fish and he never goes hungry. Well said Amon--I admire your courage in this situation and agree!

The American education system is garbage. The medical system with its high insurance rates is criminal. Our infrastructure is garbage. The safety here in America is abysmal. Employment and homeownership is a walking contradiction. We have planned exiting America as a part of our retirement. The American dream is a nightmare at best.