10 Wealth Destroyers // Stop Wasting Your Money

[@TaeKimFinancialTortoise]

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[@topher6410]

Preach… 100% right on education… if you’re going to school for nursing, accounting, or most other such professions, the local community college is the way to go… unless you’re trying to get into a super competitive field like Wall Street or a prestigious law firm, employers don’t care where you went to college…

[@ChimiChimiChurryPie]

#11 - having kids when you can't afford them #12- weddings that require taking out a loan or remortgaging your house #13- not knowing where your money goes each month. Track your spending for 6 months, then you'll know which category is excessive spending (example: eating out, buying crap you really don't need, car payments)

[@lelocle4262]

#11 Credit card debt #12 Lavish weddings #13 Divorce/child custody/spousal support legal battles

[@colinrussell2017]

#14 Start a family. Now it's not just YOUR financial choices that will impact you, it's your spouse's and kid's too (and vice versa of course).

[@fredswartley9778]

Other wealth killers: expensive clothing and shoes, eating out, entertainment, investor fees, buying cheap items instead of quality, credit card debt, medical bills, expensive cell phones.

[@sharonwinson-m8g]

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. A trader made over $350k in this recession influenced market.

[@Vincent-j8u]

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 alot of wealth transfer in this downtime if you know where to look.

[@JacobsErick-u8r]

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.

[@LUCIASMITH-d1z]

Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.

[@JacobsErick-u8r]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@winifred-k9e]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@LanceMclendon]

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's 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.

[@Just...Peachy]

I'm 43 and you're living the life I want! Good for you!

[@susanp.collins7834]

I spent the best R7000 of my life when it was the only money I had. I bought a Canon Powershot SX60hs superzoom camera for my bird photography. I still have it but my computer has packed up. But it's given me more joy than any 'toy' I've ever bought.

[@daviddelaney363]

Consumers should revolt against the high prices of basically everything and start penny pinching as never before.

[@CharliniAlmeida]

#11 - Buying things you don’t need to impress people you don’t like💸 #12 - Inflation #13 - Overpriced water bottles / Stanley cups 😂

[@Farmwald853]

A wise individual understands that accumulating wealth necessitates prudent investments and informed guidance in the financial market, particularly during a stock market crash. While the stock market presents opportunities for maximizing profits, successfully navigating it requires skill and expertise.

[@SallyW414]

It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.

[@SolimaBureko]

Having an investment advisor is the best way to go about the stock market right now. I used to depend on KZbin videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

[@SteveKalfman-yv7co]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.

[@SolimaBureko]

Vivian jean wilhelm is the licensed advisor I use. Just search the name. You’d find necessary details on the web to set up an appointment.

[@SteveKalfman-yv7co]

Thanks for sharing, 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 e-mail shortly.

[@Golfplyr]

Could another wealth destroyer be online sports betting? Maybe that could be a vice

[@Dymolabelwriter450]

Damn right it is lol

[@rickyc6463]

Any gambling in general is a wealth destroyer

[@rebeltheharem7028]

Well, all gambling is a wealth destroyer.

[@marciethefruitysmoothie2.028]

Good point

[@Oro-53]

Not if you win

[@JoseGarcia-oo4mc]

Good video , I will put in fancy toys , expensive stereos

[@bashiraj873]

Impressive and sincere advices.

[@geo641]

Thanks Tae!!

[@WealthyChronicle]

Luxury cars are like gold-plated handcuffs. They look great, but they’re keeping you from financial freedom. 🚗💔 Agree or disagree?

[@Lena-cl6ye]

So true. Been there done that.

[@grant9047]

Tae, instead of buying that Ralph Lauren polo for status you could have bought the US Polo Association polo from Walmart for 1/10th of the price and then invested that money into the market

[@alessiafaggian999]

I drive a Fiat Panda, live with my cat in a one-room apartment in the suburbs keeping the heating at the bare minimum, have no vices..... On the highway to richness? Eehhmm no, and i really don't know what else to cut out to stat investing Do you have some tips for people like me?

[@topsparks4794]

Increase income

[@Lena-cl6ye]

Side hustle?

[@alessiafaggian999]

@@Lena-cl6ye I need something that not requires long hours, since I have a (more than) full time job

[@tlow5766]

Without watching it first: 1-8 have to be buying that new fancy car.

[@JacobGeorge436]

Protecting your capital is much more important than making money. Basically, because if you lose your capital, making money is much harder. "Missing the train" vs. "losing your money." There are a lot of trains, but if your money is gone, it's over.

[@NewGuy2024]

My whole life I have never exposed myself to any vices in life. Many folks think its weird to not even socially drink, especially at gatherings. I'm pretty sure my decision has help me avoid many headaches in life.

[@TK-zz2uy]

solid advice

[@j.kelsey9926]

Could another wealth destroyer be an aura subscription?

[@Mileko-fv5pb]

How do you feel about donating to your church or schools you attended. The Bible says 10%. Your thoughts? Thank you for all you do?

[@gokufighter21]

Lexus is the exception!

[@muskydusty]

I'm going to provide an argument to get a large car; safety. I've spent lots of time in an Emergency Room. I saw one man who was in a small car, hit by a larger car. He had ruptured organs, 10 broken bones, he needed about 500+ stitches (4+ hours of work), his scalp was partially de gloved, he had a 10" gash on the side of his neck...and he was awake for all of it. Being in a small car that gets hit by a big car can be a disaster. If you have a family that you want to keep safe, I think its worth the cost premium for the larger car.

[@christopherellis2663]

Why get a car at all? Public transport and taxis are safer and cheaper

[@JoJo-gr3pr]

I appreciate you getting straight to the point 👏🏻👏🏻👏🏻

[@andyh4518]

The expensive education part is such a big thing for parents. It's one thing to pay a 60-70k tuition for a school like Harvard or Stanford, but all sorts of private colleges no one has ever heard of charge nearly as much. Even if you get financial aid, it's still a hefty price tag.

[@rockford717]

It'd be great if Tae can make a video for how he thinks of Bitcoin

[@adrian-4767]

rockford717 I agree, that would be a great video to make by him.

[@Beck-Stein]

Wealth destroyer… listening to someone on youtube talking about wealth destruction all day.

[@BrianMattews-i7t]

I'm so glad someone is sharing this. All the recent events make me want to re-distribute my portfolio. I currently have 80k in my portfolio. How can I consistently pick winning stocks?

[@peterl2767]

Great info 👍 👌 👏

[@peterbedford2610]

Inflation, cars and spending too much money on noninvesdtments. Stay healthy.

[@daviddr115111]

That first part reminds me of that early family guy episode "so glad we swore off women when we did, I'm gonna go microwave a bagel and have sex with it" "Butters in the fridge!" 😂

[@nightdonutstudio]

I love my honda fit. But not only fit most subcompact car are discounted in United States. They want us to buy SUV.

[@rubaidasharmin4579]

Not anymore. Some luxury products are not worth the money.

[@rebeltheharem7028]

I always buy the lottery ticket if the jackpot goes above 1 billion. Math says my expected return after for the lottery ticket is greater than $2. I still probably wont win, that's a $10 expense every 5 years or so.

[@albertogonzalez1746]

My bimmer turned into a maintenance money pit. Now I drive a Honda and laugh all the way to the bank

[@khoasterful]

When my dad retired, he would by a weekly dollar lottery ticket. His explanation was he's buying a dollar's worth of hope. It gives him something to look forward to next week. Hence, I don't think it's inherently a wealth destroyer, but a cheap entertainment past time, unless it is used excessively. I'm also thinking the "bingo" analogy... =) As always, informative video Tae.

[@criminalelement494]

Sorry, brother, but weed brings much happiness and helps stress/anxiety. It truly is investing in myself.

[@drproton85]

Tae, you do have great hair.

[@dabocousin]

He does

[@JG-vn8wr]

Back by popular demand!

[@thicanhnguyen3167]

[@PamelaGregory-z9w]

Please how ?

[@PamelaGregory-z9w]

Am a born Christian and sometimes I feel so down 😭 of myself because of low finance but I still believe God😞

[@thicanhnguyen3167]

It's Maria Angelina Alexander doing she's changed my life. A BROKER- like her is what you need.

[@thicanhnguyen3167]

$356K monthly is something you should feel differently about....

[@phongphung2545]

I know that woman (Maria Angelina Alexander) If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!

[@SOAP-jf7ue]

As soon as he started talking about the untainted foods, I knew this video was made for a social class above mine.

[@bigcstevens187]

Getting married and having kids are two of the biggest destroyers of wealth.

[@nicstevens6499]

Sorry I like booze.. but most of these are pretty good...

[@rommele.maderal]

❤❤❤

[@BigTimeHSMfan]

💙

[@foreveryoung999]

# getting married

[@fs5775]

Tae is selling out a lot to advertisers these days, time to unsubscribe..

[@Mitology]

👋👋

[@andreasb8232]

8:06 that's what she said

[@myrathompson7398]

I think luxury cars are a waste of money especially if you are leasing them

[@steelydan146]

This guy assumes everyone lives in the big city. News Flash: tons of people live in the suburbs with a decent house & a 2 car garage with huge equity. 2nd: large cars are needed to haul stuff from Lowes or carry kids. 3rd: he doesn't talk about the equity on the houses people own.

[@reynoldslacybrleroymeuschke]

!I already own shares of NVDA and PLTR. I'll also add TSLA to my portfolio. But I'd like suggestions on long-term opportunities to explore that could make solid additions to my $260k portfolio for stable cashflow.

[@DivaHarrison]

As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@DivaHarrison]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@JoseLopez-lf9rw]

Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.

[@reynoldslacybrleroymeuschke]

how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?

[@JoseLopez-lf9rw]

look up her name on the web for her website.

[@amangine]

"However, the brutal truth is that most people who actually own one of these luxury cars are not the "truly wealth." I was agreeing with almost everything you said until that. What's your source for that? Are there people over leveraged on high-end BMWs, Mercedes, Range Rovers, etc.? Sure - tons. But you mentioned brands like Rolls Royce and Ferrari. Please show the data that those people are not "truly wealthy" and how this fraction is over 50% (since you said "most people").

[@colinrussell2017]

You don't need the data, you got the point. Maybe he could've said "many" instead of "most"

[@wisulliv]

Ads yuk dislike

[@lauriechan2966]

P.E.R.F.E.C.T.I.O.N.