I am wealthy (60’s) but my income as a pharmacist was better than average. Never had credit card debt. drive an older car..live in a small condo.. clothes from consignment stores or Target…I sleep well at night & can afford anything that I want…as one ages, your desires for material goods decreases dramatically...
@kelvinjohnson44 ай бұрын
Investing in the stock market has HISTORICALLY provided higher returns than other forms of investment. According to Morningstar, the average annual return for the S&P 500 index, which measures the performance of 500 large-cap stocks, was approximately 10% from 1926 to 2020.
@KelvinWallace4 ай бұрын
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
@Markjohnson094 ай бұрын
-well the best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@RichardBayer4 ай бұрын
@@Markjohnson09 would greatly appreciate if you could share some information about your financial advisor. I'm also interested in making positive changes to my finances this year, so any insights would be highly valuable to me.
@Markjohnson094 ай бұрын
My CFA ’Marisa Breton Dollard’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@RichardBayer4 ай бұрын
@@Markjohnson09 Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
@SausalitoVicki5 ай бұрын
Thanks, Tae! This was just what I needed, as I’m getting ready to drop my expensive financial advisor.😊
@jimskatr1035 ай бұрын
As soon as I saw where my adviser put my money, I was like, I’d have done that. And that’s exactly where I would have put it. Here, here’s 1.1% lol
@thelmambonu60505 ай бұрын
lol… there must be something in the air. Just dropped mine this past week. Thanks but I got it from here
@judixx5 ай бұрын
@@thelmambonu6050May I know how you phrase it ? I am shy and am afraid to piss people off. Is there a transaction fee ?
@Hi442245 ай бұрын
@@thelmambonu6050please share how you ended the relationship with your advisor. I also want to do the same this week !
@thelmambonu60505 ай бұрын
@@judixx For ending? No transaction fee
@klrbee035 ай бұрын
Paying credit cards in full was the most significant change to my financial life. The day I got that under control was the beginning of resolving my finances.
@mannya_realtor5 ай бұрын
I think a great rule is to find a way to invest as much as you spend. You do this and you’ll be doing great. $1 spent $1 invested.
@TCTALKSTCFITNESS12 күн бұрын
💯💯💯
@TheJackCain-844 ай бұрын
These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
@kevinmarten4 ай бұрын
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
@Jamessmith-124 ай бұрын
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
@JacquelinePerrira4 ай бұрын
Mind if I ask you to recommend this particular coach you using their service?
@Jamessmith-124 ай бұрын
Carol Vivian Constable 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..
@JacquelinePerrira4 ай бұрын
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
@HersheyandStuff5 ай бұрын
All great advice 👌
@savysav12535 ай бұрын
Solid advice! Thank you
@theamerican71315 ай бұрын
always good info from you. thanks
@budanski4 ай бұрын
it was an engineer at Eastman Kodak that invented the digital camera. they never capitalized on that.
I only ever automated utility payments. My credit card can be close to zero one month and thousands the next. Utilities (1) you always need and (2) the payment difference from one period to the next has no surprises….
@christinab91335 ай бұрын
Excellent ❤❤❤
@rabidfollowerАй бұрын
Some of the rules involve whole other sets of knowledge which may not be simple, such as what funds to invest in -- index funds, tax-exempt bond funds, target funds, foreign market funds, etc. Determining how much to invest is another challenge. You don't want to invest too little, and you don't want to invest more than you can afford. Also, what percent should you invest in stocks? What percent in bonds? What percent should be cash you put under your pillow (emergency fund)? Most difficult and headache-inducing is determining what expenses you need to cut from your life in order to have enough to invest. There are tons of knowledge to be had and many real-life challenges as well to become a successful investor.
@sanaakbar68455 ай бұрын
Any tips for parents to help with setting up their kids finances for school
@lmb48764 ай бұрын
Yes, give them a budget ( ie $150/month)..they will figure it out…
@raznatalia1415 ай бұрын
Never buying an individual stock is great for those who like to 'set it & forget it' but I'm guessing the people watching your stuff are more or less finance nerds. I disagree with NEVER buying individual stocks... Buying a few individual stocks is a great way to learn about investing.
@Sator695 ай бұрын
Anyone have suggestions for favorite account aggregator? RIP Mint...
@Erokk19885 ай бұрын
Credit Karma has gotten better but isn't there yet. Personal Capital is great as an aggregator. I love the tree chart that shows asset allocation across ALL my accounts Monarch is the spiritual successor but it's a monthly subscription and imo it's way too expensive.
@videoanalyst4u5 ай бұрын
If you don’t mind slowing down your speed. I had to play at 0.75x inorder to catchup your words
@christinesnitkin96195 ай бұрын
And take a breath between each numbered suggestion.
@lmb48764 ай бұрын
Just slow it down…I always have to speed it up..except with this guy1
@peterl27675 ай бұрын
Great content 👌 👏
@mervynman63035 ай бұрын
Excellent video Tae. Quick question - I started a new job and I can select between 403b or Roth 403b. I will be making good money ($195K) for now but the job is not very stable. Should I select 403b or Roth 403b. Roth is nice as I will not need to pay taxes later but from other view the money that I put into Roth will be taxed like 20+ (and maybe 30%) now...
@aliercy77315 ай бұрын
I say whatever works for u, I have the same availability and just went half and half
@mervynman63035 ай бұрын
@@aliercy7731 it is a good one
@lmb48764 ай бұрын
ROTH…It compounds for the rest of your working life and withdraws😊 will be tax-free.
@audreywolski85555 ай бұрын
Dumb question… is this 10-20% of your income after taxes or before taxes?
@ds56515 ай бұрын
After
@atreyuex15 ай бұрын
Yes, after tax
@ScrappyVids2 ай бұрын
hair is looking good B)
@gotcha98725 ай бұрын
Hello, does anyone know a good account aggregator application?
@GK-yk4eh5 ай бұрын
Thanks ready too invest but Advisers has stopped me help
@Sinister012645 ай бұрын
I just can’t agree with your “don’t buy single stock” rule 😅 Yes of course if you don’t know anything about stocks. But if you know, you know ;) that 30% year growth won’t achieve itself by sleeping! Otherwise good video as always!
@AK-47ISTHEWAY5 ай бұрын
I thought the book was total rubbish written by two people who are unqualified to be giving out personal finance advice. Harold even stated in interviews that he originally knew nothing about personal finance and had to do Google research on the subject. Then, all of a sudden, he gets a book deal, and everybody thinks he's some expert now. The book is filled with some of the most basic and common sense knowledge that you can actually get for free online, but they are charging 15 dollars for it.
@MrCMHathcock5 ай бұрын
I mean.... the vast majority of people don't understand the most basic fundamentals of being financially solvent..............
@scottthompson34935 ай бұрын
And you are under no obligation to participate, go outside and go for a walk.😊
@TemplarOnHigh5 ай бұрын
This is why it's literally an index card.
@jdmulloy5 ай бұрын
$15 is way less than you'll spend with any advisor. It's not for you, it's for people who don't know anything or where to look.
@missmaryjanegreen4 ай бұрын
So? Move on
@Money8OOST5 ай бұрын
👍
@EcomCarl5 ай бұрын
These simple money rules are absolute gems! Remember, taking small, consistent steps towards financial wellness can lead to significant long-term benefits. Let's simplify money matters and empower ourselves to build a secure financial future! 💰
@SkankHuntForty24 ай бұрын
You really think a physician has your best interest in mind? Don't kid yourselves.
@BlakeC3415 ай бұрын
All good points aside from shunning single stocks. Grossly exaggerated.
@YoDaColombian5 ай бұрын
95% of money manager can’t beat the SP500 long term wise.
@BlakeC3415 ай бұрын
@@YoDaColombian doesn't change the fact. And I have half or more of the time since I began, especially since I sell monthly OTM covered calls on all my positions.
@johny31335 ай бұрын
What is on your head?
@AK-47ISTHEWAY4 ай бұрын
His hair
@enriquegonsales39325 ай бұрын
I honestly don't understand why you're discussing these dubious schemes. There are plenty of options like Eledator and similar ones that are fast and profitable.