5 Middle Class Money Traps to AVOID

[@WhiteBoardFinance]

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[@XX-rs7sq]

Hey marko can you do a video on helping uneducated 30yr olds. Idk what is the best financial decision to go to school or what the best choice is.

[@FinancialShinanigan]

That's why I got a abovewater basket weaving degree!

[@WhiteBoardFinance]

smart

[@s0smg]

I’ll hire you lol

[@scottwooster4584]

*an above water Should have taken more classes 😪

[@chrispinelli]

I guess English grammar is not a part of the course work.

[@craig9069]

Did you just take shots at the bald Dave Ramsey. Nice hairline by the way!

[@MariaDeigo8]

*Impressive! your potential seems limitless* I'm fascinated by investing, How can I invest *$200K* sitting around doing nothing in the bank and what sector do you recommend getting into?

[@MariaDeigo8]

@yung I'm interested and need to start now. If you don't mind how can I get in touch with your financial consultant?

[@quin5155]

KZbin has been helpful to many in making financial decisions but it's not enough as most people don't understand just by watching tutorials. Its advisable to work with a Financial Consultant with high-level investment experience for positive results

[@sonlee8066]

I'm glad I came across this recommendation. My wife and I invests with her too. We knew how to earn and spend but when it came to financial planning we were novices. working with her remains one the best decision we made

[@nathaliamaurice5626]

The journey to financial independence begins with a step and proper assistance. I understood this working with Phoebe, started investing with her some years back that was the best thing I did for myself and now success feels easier than I taught. You can do all the due diligence you want, yet it all comes down to who you invest with

[@themoalani]

Very good video! I like the idea of listing those traps chronologically.

[@dsmith8358]

Keeping it real. The biggest middle class "mistake" is the fact that wages arent keeping up with inflation. Salaries are going up at 3% annually while housing is up 6% - 11% annually (depending on location), utilities are up 6.6%, food is up 5% - 6% annually and health coverage for a family is $1,200 per mo. - And this is all before life events like aging parents, car repairs, divorce, orthodontics, etc... Most middle class families arent spending money on cars and toys. They are spending it on kids and bills. Their paycheck isnt lasting. Companies make a lot of money keeping salaries low. In fact, many corporate managers have bonus incentives for keeping salaries "in check" (which is why communities are asking for salary disclosure of job positions - NY). Appreciate the Finance 101, but the biggest factor is your paycheck's purchasing power isnt keeping up. Then factor in the fact that women & minorities earn even less. Education. Transportation. Housing. Health care. These are all basic rights of humanity. They shouldnt be so difficult to attain in this country.

[@schecterc1exotic]

You have a right to PURSUE all of those subjects, but none of those items are human rights. You have to earn each.

[@dsmith8358]

@@schecterc1exotic There you go. Entitlement at its finest along with a lack of empathy. There is a reason the middle class is disappearing. And its not 99% of people just mismanaging finances.

[@BoldFollower]

lolololol the Dave Ramsey/Whiteboard finance comparison at the end lolol

[@thedownwardmachine]

I did 5% down and got rid of PMI after two years using appreciation. If you can luck into this then great, but it’s also worth computing PMI effective interest because that alone can justify paying it..

[@yetijoeyetijoe]

The time is now to get a better paying job. Tech companies are paying a huge premium for tech workers. I got a HUGE pay increase last September. Since then I have been contributing to my 401K just enough to max out the matching and not sure what to do with the rest of my net earnings. I think that I am going to use it to buy a couple of 10 yr old dirtbikes and minor upgrade the new house then start investing it somewhere. I know that it's not the best to pay off your house but knowing that in 5 yrs that I can own the house that we just purchased if I put in all of my extra net income into principal sounds comforting for this 50 yr old. I was stuck at the same pay level for a very long time before last September.

[@DillonCarbajal]

Had me rollin at the end lol

[@versedric]

Perfectly described me! So weird... 13:30

[@jimmysheehan5496]

1. Excessive student debt 2. Huge car loans 3. Not investing 4. Career plateau 5. Buying too much house

[@doug2731]

1. Student Loans 2. Huge Car Loans 3. Not Investing (start early) 4. Career Plateau (complacency, W-2 Hamster Wheel, Lack of Progress) 5. Buying "Too Much House"

[@Peppermon22]

“Too much house” is to easy right now.

[@HokageKyubiNaruto]

@@Peppermon22 don't buy right now then

[@TopVillain]

Thanks

[@iluvcakes19]

Thank you!

[@qwerty69600]

Thanks. Saved me 10 mins. Far too busy making bank to waste time on something that only needs bullet points.

[@rydgevilla8643]

I’m actually happy how I did life. I have no student loans. After highschool I worked 3 jobs for 2 years saved 60k and paid off my certification of airmen the first day I set foot in the class. I drive economy cars and have a condo. I’m not the richest but I know I’m ahead because of my low debt to ratio income.

[@MeltingRubberZ28]

Good for you bud keep it up 👍

[@fatwallets1018]

Facts !!! I leverage differently but I respect it

[@sluggingbread]

Good job Rydge

[@Creppy_y_yo]

@@fatwallets1018 how did you do it?

[@175dee9]

Respect, everyone who complains about not making enough money won’t put in the work required to make that money such as working 3 jobs.

[@fh1980ram]

"We're lending money we don't have to kids who can't pay back to educate them for jobs that don't exist anymore, and that's crazy" Mike Row.

[@anthonyd.jacksonjr.2139]

#deep Where can I find that quote at? Hopefully a video...

[@dave2daresqu]

Mike Rowe*

[@twoscoops4181]

You're the man Marko! You keep me from slipping up with these videos. GOAT status, you're the most trusted finance guy on KZbin imo

[@WhiteBoardFinance]

Ty that means a lot

[@blackvx]

@@WhiteBoardFinance And, most of the times, really funny 😂

[@bannertraveller5879]

@@WhiteBoardFinance I've been sub since you were under 10K . Love your videos. You could mention that conveniently Student loans are one of the few debts along with of course Child support that are NON Discharegable. They never go away!

[@rafaelgonzalez6158]

Let me tell you something buddy. I remember when you started your KZbin channel, I was one of your first subscribers, the main reason is high quality content, no bs, no magic bowl to become millionaire crap. Very good job with this video as always.

[@WhiteBoardFinance]

Thank you so much Rafael!

[@MarsMatrix6744]

He thinks you're niave and spoiled 😂

[@bradgruver]

I was one of those with an insane car payment, was 600$ a month then traded in to a $316 a month payment and due to the market sold that car and made money, paid cash for a 06 Toyota Highlander and now I have no car payment

[@exaelmendez9182]

I've been very lucky with my car history and that's literally the only thinkg I have had going for me. All of the cars I've had except one, have held their value and more. And mind you this is even before 2020. Totalled a leased car but at that time the car had gained equity and had been selling above msrp, that was in 2016 and wow I was lucky. I recieved $3000 back on a car I had totalled, I couldn't have been more blessed. On the flip side tho, I've been naive enough to fall for every single one of these money traps and have been oh so very enlightened over the past couple of years. With that daid I wash I had figured all of this out a lot earlier, but even so do not be discouraged. Yes it is better to have started earlier but it's still even better to just start.

[@solascriptura-e7t]

"Americans are typically ignorant with financial management..." My man, Marco, pulls no punches 🤣🤣🤣

[@davpunk]

It's true though. The American school system does not teach prosperity and is based on ancient wartime factory job needs.

[@solascriptura-e7t]

Absolutely,@@davpunk .

[@slamdunk118]

It's true. I saw lots of people want to buy a house with 5% down. 💀

[@omaralkayal7598]

Honestly it’s not the fault of the people, we are only part of the blame because we have to learn financial literacy yada yada yada but the other part of the blame is on the system and school literally teaching you how to be a miserable employee STEP BY STEP

[@johnpark7972]

Because they don’t teach you financial literacy. Same with any country tbh.

[@Quanic2000]

I think the ROI on degree can be school specific too. Allow me to explain: I'm a nurse and make six figures. I went to a junior college to get my nursing degree and license and transfered to a 4 year college to finish my bachelor's degree in nursing while I was working (2 years at the JC plus another 2 at a state university to finish). After getting 3K from my work to pay for my bachelor's and qualifying for an 8K grant from my state for working in an undeserved area, I paid roughly $3,000 to $3,500 for my nursing license plus degree TOTAL. Whereas someone can go to a private school, thinking it'll be quicker or better, and pay $165,000 but still make the same or even less as me.

[@sct4040]

Thank you for working in an underserved area.

[@WhiteBoardFinance]

my wife is a nurse and just finished for nurse practitioner

[@Quanic2000]

@@WhiteBoardFinance im aware, I've been a subscriber for a while 👊

[@madasinwat2]

@@Quanic2000 xin Chao nhe

[@Quanic2000]

@@madasinwat2 huh?

[@Amcchun]

The part about being careful about student loans can't be emphasized enough. Do your research and make sure your schooling will get you a good paying job that is worth the debt or else don't do it! Awesome video Marko, you the goat!

[@WhiteBoardFinance]

Very true! Ty Andrew

[@missireason8998]

I just don't get it. Loan officers at a bank would never approve loans under the same conditions that student loans get approved. Undecided Major - denied Underwater Basket weaving (as per Marko) - denied Electrician certificate - approved ADN nursing - approved Go out of state to big name college - denied, but go to local community college for the same degree - approved. Something has gotta change. I think frivolous jobs at the college should be cut. How many Assistant VPs does each school need. Also the programs need to be cut. Go to school, and get out.

[@TheJetstream10]

Many people are opting for a 2 year degree and then transferring to a 4 year college for their Bachelor's Degree saving some money and lowering their overall debt. Good plan.

[@sonja4164]

@@missireason8998 well said

[@missireason8998]

@@TheJetstream10 I agree, if the B.S. is necessary and a good return on investment (ROI). I have relatives that are Associate-level nurses who make just as much money as Bachelor-level nurses, and they have just as much career flexibility and growth. Now, of course, if you want to become a FNP, then a Bachelor's and Masters is necessary. My recommendation: do not go to college for a degree, if it will cost more than 1 year of your projected annual salary. When these colleges/universities nationwide see their enrollment numbers plummet, the tuition will miraculously drop. Such schools who have multiple vice presidents and associate deans will downsize in those positions in lightening speed. It would take a wide scale boycott, but it would be effective. Sadly, as long as students take out the loans, there will be no reduction in uni costs. If people dropped student loan applications like they did Netflix subscriptions a few years ago, after their unannounced price hike, sh*t would change.

[@ANTHONY47814]

Looking forward to acquiring ASX stocks is that okay

[@kathleenstoner.n7499]

Traded ASX some years ago but i must say US stocks are vry much okay and of higher value with quicker gains.

[@kathleenstoner.n7499]

*Contd.* u can get a registrd Pro to do the tradings for u or See Sandra Yvonne Webster on the nets she's registrd & vry experiencd. Do ur own research.

[@Brussardjnr]

She was here in Michigan for a seminar. Great speaker, full of humor and rhetorics too. Lol!

[@dr.karidouglas1312]

I remember Sandra from Fenner & Smith. She's good.

[@Welcometofacsistube]

University is a joke Get into a trade. Work paid for my schooling and paid me to learn on the job

[@TheAndrewLopezFinancePodcast]

Not investing a mistake? But Marko, I just maxed out my credit cards at Gucci!!!

[@Lfgyf]

I’m glad I stumbled on this. Investing has changed my perspective on how one can succeed in life. Working multiple jobs for money isn’t the optimal way to attain financial freedom. Unfortunately, we find this out later in life. Great video.

[@Ferocious923]

What ways would you recommend to someone who has no experience whatsoever investing and looking to make some money?

[@Lfgyf]

@@Ferocious923 As long as you diversify your portfolio, any single stock that you own shouldn’t have too much of an impact on your overall return. If it does, buying individual stocks might not be the right choice for you. Even index funds will fluctuate, so you can’t get rid of all of your risk, try how you might. With help, these are achievable. Levi Clemans, a pro IA oversees my trades. You can look him up online, and connect him.

[@Vikturneer]

You also need to know that it’s possible to lose money, since stocks don’t have principal guarantees. If you’re looking for a guaranteed return, perhaps a high yield CD might be better.

[@Christensen554]

With Clemans' oversight, I’ve been able to select well run companies with strong finances and a history of shareholder friendly management practices that have made me good gains in the past months.

[@McPhersonz]

@@Vikturneer Right? I think I’ll have a look at that and maybe add it to my portfolio. But is it possible to beat the market?

[@dougpatterson7494]

Appreciated that you pointed out "total homeowner exoenses". I find it disingenuous people who say "if u can afford $1500/month in rent there's no reason u shouldn't get a mortgage that is $1200 a month". There is more to home ownership costs than just mortgage payments

[@waleedelshamy2662]

You are right, ownership comes with responsibilities too but if u just keep paying rent, that’s literally money down the drain. U will never get a penny back. Owning a property however, guarantees u would get get what u paid back in case u wanna sell the property and if the property appreciates in value, your are getting more money.

[@TwinsAndAPitBull]

@@waleedelshamy2662 But the point of renting is getting to the point of buying a home when it's right for you. The fixed nature of renting makes it the prime opportunity to save as much as possible at that point in your life. Buying a home is an investment that will likely be more expensive than renting at times and requires another level of financial responsibility to do so.

[@stephwest6360]

I have my funds well diversified by using trade signals from my investment advisor Jane Marie Kunak, registered CFA who you might have heard about or seen in the CNBC news and tbh it's been a huge relief. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part. My aggressive portfolio returned almost $200k in Q3.

[@davidohare6861]

I did read about Jane Marie Kunak her performance on the market has been quite outstanding.

[@michelledavies7634]

I googled the lady you mentioned, and after going through her credentials, I can tell she's a pro, I'll be writing her a mail shortly.

[@martinbelanger9963]

Love it, Love your content. thanks so much for the work put into these, rest assured someone is recognizing this.

[@harrisahmed3066]

The best trades are the ones with risk management, this means you have a plan with your trade. you know when to take profit and where to place your stop loss.

[@XpertHomebuyer]

The 15yr and 30yr comparison had me rolling.. nice video

[@WhiteBoardFinance]

Glad you enjoyed LOL (that was 100% sarcasm but I think some ppl think I was serious)

[@josemanuellopez8989]

@@WhiteBoardFinance I have everything you mentioned but the hairline. What should I do?

[@WhiteBoardFinance]

@@josemanuellopez8989 20 year fixed lolll

[@aqz2000]

An A grade video, yet again from Marko . No gimmicks, just simple old school advise. Follow these basics and almost everyone will do well.

[@stevee8318]

The rule of thumb I was taught for higher education expenses is that you should spend/borrow no more than 1.5x the first year median salary for your field. So if you expect to earn 60k your first year after graduation, you should pay 90k or less for your education. People who borrow $200k for undergrad + masters and start out earning 40k are essentially financially handicapped for life. Yeah there are programs like PSLF and IBR but you will still be crippled well into middle age.

[@werunguns]

Hi Marco, can you make a version of this video for your high class viewers? Lol. (Seriously none of these points applied to me). Thanks and keep up the great work!

[@Tully3674]

Good video. FWIW, while I was in debt for 10 years after getting my degree, I was taught early on to pay yourself first (whether for emergency savings or retirement) before servicing your debt. Initially I took 20% of my take home pay to set aside, the remainder going to debt (paying as much as possible towards higher interest rate debt), and living expenses. After a few years with increase in salary (above the level of inflation), the 20% would increase to as high as 35%+. Also, buy what you need, not what you want. Very important philosophy to practice - especially during the first 10 years into the workforce.

[@simonlynch7542]

Yo Marko, I’ve been watching your videos from day 1 and honestly I have to say that you have helped me out massively. I’m now in my 40’s and I was in lots of debt and renting a small room in London and my future looked bleak. Now I’m debt free, own my own newish car and have just bought my first flat (mortgage). I tell everyone who tells me they are in debt to watch your videos. Thanks buddy and keep up the good work 👊

[@TopVillain]

Cap

[@zeppkfw]

@@TopVillain It's pretty doable

[@redDotStory]

As a first-generation immigrant, I second your first point on the importance of education to take our lives above the low class. Love your content is genuinely beneficial for avoiding getting into the student loan trap. Thank you!!!

[@alandoak5146]

The one trap I fell into: marrying someone who was reckless and hostile towards my life savings. And I have friends who made the same mistake of marrying their abusers.

[@tk_mitternacht963]

My current girlfriend married with a guy that keeps taking out loans under her name for his "businesses" and stuff that 'married couples could have' while in truth he's been spending them all on ponzi schemes investment and ran off marrying someone else with the money, after she got divorced, she's forced to pay off the debt all by herself

[@sonja4164]

@@tk_mitternacht963 that's so fkd up smh

[@7779-c3m]

# 6 The marriage Trap, Don't Do It Boys

[@TheNORegretShow]

Great video Marko. I am a car guy. All those other things never had a problem. But cars will always be my crack lol. Btw my dream car is a 911 GT3 991.2. One day. My car heads know what that is.

[@WhiteBoardFinance]

I'm saving up for either a 992 Carrera S or a 718 GTS 4.0 - haven't driven either yet.

[@TheNORegretShow]

@@WhiteBoardFinance Very nice. I said the same thing. The day I drive it will be the day it comes home with me. We will reach our goals one day brother. Happy new year and keep ignoring those haters 👍🏽✌🏾🤙🏾

[@m_rod9562]

@@WhiteBoardFinance can you make a video on this? Cover how you’re going about it, how much is being saved each month for the purchase, buying cash or putting down money on x loan for x number of months.

[@27Ctrojans]

@@WhiteBoardFinance drive an evora 400 first :-)

[@WhiteBoardFinance]

@@27Ctrojans Porsche > *

[@blackmountain814]

I love your videos man! Thanks so much

[@LivingtheSprings]

Love this! I'm glad you mentioned buying too much house. Too many people are house poor. My goal is to be financially free in the next 5 years. Our average home price in Colorado Springs is over half a million.

[@LilW1nky]

Love your channel and I appreciate your advice over the years! Would you be interested in a follow up video for how pitfalls may change when a person moves into upper middle class? Thanks

[@YourChicGeek]

Great tips especially buying too much house and also Student loan debt. I am still paying off my student loans and it sucks. Luckily I dont owe that much so im grateful for that. Keep the great videos coming.

[@colin1818]

Forgot to mention whole life insurance. I realize that would probably seem like a conflict of interest considering the sponsor, but overpriced permanent life insurance is a ridiculously common middle class money trap.

[@KR-bn4bg]

My dad fell for that back in the day. Got policies for all of us and took over 25 years just for mine to be paid up. My mom's is still being paid to this day I'm pretty sure.

[@jackz4149]

Why is that? Custom life is important if you even think about investment. Cash flow is the key to a good life, and investments aren’t stable all the time like some big life insurance companies. It’s good to have diversified strategies and life insurance is one of them. Everyone around me bought it to have a peace of mind

[@KR-bn4bg]

@@jackz4149 because the cash flow rates of return are terrible and the fees keep you in the red for way too long. When comparing it to investing in steady dividend stocks... hell, even bonds, you fall behind and stay behind forever. If rather invest my whole working career and do my best to leave the original balance, living off the cash flow and then there's a giant nest egg to pass on, as a way to self insure

[@jackz4149]

@@KR-bn4bg you don’t put everything into it, you still invest in other stuff… and nobody is staying behind, it’s just ensuring a peace of mind in uncertainty, you’re not looking for a giant return rate but securities when you lose your livelihood. There’s a reason why middle class stays there, stocks and shitty crypto play a huge role

[@KR-bn4bg]

@@jackz4149 put zero into it and you'll have more money. You either sell insurance or drank some salesman's kool-aid to believe in this nonsense

[@tyb3938]

Skip the middle class, real wealth comes from creating a business. Before quitting my first corporate gig out of college I got great advice: he said if your in the garbage industry great as long as you own the truck. My wealthiest friends have no college degree, they started businesses younger, took on risk cause they had no college debt to trap them.

[@jg997]

This is all true. Make this your guide if you're young. Don't try to keep up with the Jones's.

[@elizabethm4221]

Hahaha I died with the Dave Ramsey reference 🤣🤣 Good one 😆

[@TheLizardKing1967]

# 6. Pay cash for a 94 Toyota Celica and don't have a Stupid car payment. Scotty Kilmer

[@ComeOnPelican91]

Rev up your engines!

[@thechurchoflogic1670]

Time shares! Time shares! Horrible investments!

[@WhiteBoardFinance]

good point!

[@maxvl2832]

Marko...That was me. Bought my Corvette after getting my first real job! I was driving a 1982 Datsun at the time. I said, "I.ve earned it!" I was a fool....I should have invested that money. 🤑

[@derek3115]

[@larrykramer2761]

I made all these mistakes! Thankfully, I'm a little older and a little smarter now. I paid off my student loans and my car loans. I started maxing out my 401k contributions. I have been at the same job for 13+ years, but I have more than doubled my income in that time. I did buy too much house, but I plan to downsize when the kids move out in about 5 years.

[@DanielNewm]

I almost didn't subscribe when you said 15-year fixed mortgage, until you explained yourself. Then I subscribed XD

[@lilredexptsc]

I actually sent this one to a coworker who was just asking me about investing. I am trying to get people educated in their mindset about money.

[@marvinnichols2819]

Thank you so much Marco, the good looking, the funny guy and everything else.. For sure I will show this posting to my kids.

[@subaru4me]

I have to say I realized my money was being wasted when i paid off my car at 22 years old. Even though I wasn't making a lot of money the money I had started piling up to the point that I had a downpayment for a house. At that point I knew car payments are a financial trap.

[@reefcrow9818]

Well now you have it and you’re still young so start investing

[@subaru4me]

@@reefcrow9818 I wish I were still young. I learned that lesson 28 years ago.

[@randomstuff463]

im 22 and about to buy a truck fro practicaltity. what should i do?

[@typhlosionisbest]

@@randomstuff463 compare the used car market to the new car market, then take the things you have into account: Do you need to build your credit? How stable is your job? Do you think that the price is reasonable, or would you rather wait for a drop? How long do you plan to keep the car? These things can make a difference in what you choose.

[@randomstuff463]

@@typhlosionisbest thank you for the response. I have good credit but definitely room for growth. I can put 20% down right now on the truck and plan to have it as long as possible.

[@nischa]

Love your channel and always learn so much from it! You've inspired me to start one up myself!

[@cindyperez2837]

Liked, shared and praised..Thank you!

[@WhiteBoardFinance]

Much appreciated!

[@lsfg07]

You're killing it man. Great video again!

[@susancollins2380]

My advice to new investors: buy good companies and keep them as long as they are good companies. Also keep your consistency going and while you are at it make sure to employ a working strategy.

[@craigrussell2045]

I'm very risk averse so I settled for stable stocks. I put 60k in TSLA, NVDA, ALB made over 280k with the help of my F,A Rita Wildrin Mora, but guess what? I put it back with her and also dabbled in a 70/30 stock/bond portfolio. It compounded and now I'm on my way to the millionaires club from investing in stocks.

[@emilyd2972]

Pretty impressive, I have been on the wrong side for far too long and I'm willing to make consultations to improve my situation. Can she help me?

[@robertharvel6482]

Did a quick search and found her web page. Her resume is quite remarkable, I wrote her and I'm waiting on her reply.

[@michaeleverett4416]

@@emilyd2972 The crazy part is that those fund managers are probably outperforming the market and raising good profits.

[@stopthecap4317]

@@michaeleverett4416 Index funds outperform fund managers stupid bot

[@BecksArmory]

Heck yeah! Great video. Thumbs up, Shared on FB, and I got to leave this comment to boost the engagement algorithm. It's the least I can do for a cool cat like yourself.

[@Eamo-21]

Fantastic video as alway. I'm a well paid software engineer in Ireland. The lure of buying new car is always there But I'll happily drive around my 06 GTI knowing I can put my money to work in other ways. People become poor trying to look rich.

[@jaggaadaku]

Traps to avoid: 1. Student loan 2. Expensive car 3. Not investing 4. Not changing job in 3 years 5. Big house

[@youresowayne]

What other investments are you suggesting, outside of a Roth IRA, IRA or 401k?

[@WhiteBoardFinance]

real estate, bitcoin, digital assets, small percentage of precious metals to preserve wealth.

[@ayndeg5944]

thank you for the great video, hard to maintain the middle class lifestyle! being financially informed is key.

[@matthewaaron5437]

Went to college for music. Loved it, but also wish I'd found your channel sooner! Anyway, thanks.

[@WhiteBoardFinance]

Thank you!!!

[@omegahelper1459]

Such useful video bro I'm saving it for rewatch all year

[@theDanDeleon]

Number 4 is the most important for the middle class. Depending on the industry, only way to make more money these days is by switching jobs.

[@rickrjw]

Completely agree. Where's your KZbin channel?

[@jerrysmith715]

The great resignation.......new era.

[@volatilememory9338]

This is true but frequent hopping even every 2-3 years can be a red flag to potential employers. I have seen resumes with such frequent changes not being considered.

[@DKong1026]

Thanks Marko! Props for the George Carlin reference. He truly was ahead of his time and his material is (arguably) more relevant than it ever has.

[@EnginerdBrian]

Great taste in wine and a perfect hariline. Hahaha entertaining yet educational as always.

[@Lexusupra]

Hahahahah Marko you killed me with the end of the video lmaooo !! Proud to say im a “Whiteboard Finance” hahah yeah why’d you make the list so small ;))

[@lne9070]

The humor intertwined in the overall message is top notch…..I could have a beer with this guy lol

[@leonardonieves6160]

Excellent, thanks for the information!!👌🏼👌🏼

[@MeltingRubberZ28]

Apparently I'm not funny, good looking, etc. Paid off my house by the time I was 30. In all seriousness though Marko, glad someone on YT is telling people what they need to hear. I swear most in our generation blame others for their financial issues, when lack of careful planning is most commonly the issue.

[@dylannolz723]

You have a good sense of humor haha! Love seeing actual personality in finance videos.

[@Brando8654]

“Master your money and build your wealth”, clean

[@joshsunderhaus1103]

15 to 20% investments and 28% in total mortgage and utilities if I understand correctly. Most houses I’ve priced out are 1500 to 2k a month for a cookie cutter house 3bedroom, 2 bath. Seems un affordable unless I’m making a ton less than the average citizen. How much do people make these days. I’m a blue collar mechanic.

[@troyvi5596]

Vintage style whiteboard upload. Great and over due topic to discuss.

[@mr.tuckers2848]

I think I'm a great person and that's why I follow this channel because Marko is also a great guy and provides great advice for my hard earned Benjamins. =)

[@TheNortheastAl]

Great content, as always. It’s nice to get excellent advice without being yelled at. Wishing you continuing success.

[@johnpui7484]

28% or less net income for all housing cost is simply not possible in America today

[@eric44707]

#1 reason to get a 15 yr mortgage in my opinion. Is my own personal experience. Bought my first house at 23 yrs old for 85k. 15 yrs later (almost exactly) I sold it for 140k. ( 4yrs ago). Now it’s 200k. stupid market. Im sure over those 15 yrs I put in at least 30-40k in updates. I basically got that back when I sold it. If it was a 15 yr loan it would’ve been paid off. I might’ve chose to rent it out or I would’ve had a lot more money at closing. The fact is that people don’t stay in their houses forever and paying off principal is money in the bank. Sure I know what people say. “ take the difference and invest it”. But that’s not reality.

[@affordablemulti-services]

Keep up the great work! 👍

[@anabob29]

Hi Marko, loved it. Can I ask for advise on late bloomers/ immigrants who come in with nothing and only find footings in their late 30s early 40s? How can they invest/save better?

[@eugeneforge]

Lets see, No student loans, I have never bought a fancy car, I have invested for 20+ years, my income has tripled since I started my career and my house is modest (my kids think of it as small). Woo Hoo!!! i am good. Oh that might be why I am not middle class anymore. So the lesson again is simple. Live on less than you make, avoid debt, and invest and you will gain wealth.

[@charlesjoseph1031]

you're funny man. Your ability to keep a straight face while saying all of this makes learning about finance so much better

[@xo7454]

I'm a high income earner... spending 15% of my net income per month. :) Thank you for this video. It's validating.

[@Plantation1984]

Marko with the 15-year mortgage recommendation? Looks like someone is primed to be the newest addition to Ramsey Solutions! 😂 You’re the man, bro!

[@WhiteBoardFinance]

haha keep watching. I actually talk about the 30 year fixed.

[@Plantation1984]

@@WhiteBoardFinance of course I watched, just givin ya a hard time!

[@ErwinSchrodinger64]

LOL. Driving a BMW shows me that you don't anything at all about automobiles. Once the lease runs out on a bimmer, the car is toast. Hot-V turbo designs, pressurized plastics, faulty VANOS systems, horrendous high pressure fuel systems... BMW=Broke My Wallet. BMW, MB and so forth depreciate faster than most other automobiles.

[@ericlajeunesse9699]

Amazing video captain as usual, keep doing your joke in the end its so funny hahahaha.

[@WhiteBoardFinance]

Thanks! Will do!

[@fnegrete91]

Marco thanks for all the tips and key points

[@AlexA-zw5pt]

Very insightful video! Would love to see one where you discuss the steps to get out of the trap once you’ve fallen into it!

[@alexisaguirrevideos]

Anybody trying to get life insurance, make sure you’re setting up your policy in a way that benefits you the most, not the insurance company. If you want to know more, read about the infinite banking system. Your whole life will change knowing this information and will bring you many new ideas on how to strategically start building generational wealth.

[@simtherapy9533]

You forgot to add: wonderful son, compassionate father, and ruthless businessman. What else did I forget?

[@WhiteBoardFinance]

hahaha

[@aboutface102]

These are great fundamental lessons. Are you taking into account the current situation with the pandemic? Many used cars in questionable shape are selling for 30% or more than what they are worth. Even if you spend less buying used right now, you are probably buying a money pit. I bought a new car with a 10 Year bumper to bumper warranty and 0% financing. Will it depreciate? Yes. Will it last way longer than a used car and cost less to own? Also yes. Same with housing. I could buy a used house with rusty pipes and a leaky roof for waay more than it's worth, but why?

[@redkobe5465]

great vid marko, this is exactly the reason why the middle class stays middle class

[@nathanjames9319]

I’ve been watching your videos for a while now, but I have I feel that this video has really hit me! Thank you 👍🏽

[@rpitneyjr]

LOVE the George Carlin reference!

[@WhiteBoardFinance]

one of my favorite comedians of all time. So far ahead of his time.

[@jovanjegdic5908]

Philosopher > Comedian

[@WhiteBoardFinance]

agreed ^

[@John-bq9bj]

I discovered you earlier this year and man you’re one smart human financially.

[@beastfromtheeast9318]

I bought a big ass house right before the pandemic was declared. The builder was scared of what the housing economy was going to be so they offered us $11k credit, 2.625% at 30 years, and only 10% down no pmi. It’s been a little over a year and the house has gained over a $100k in equity. Boooyaaa!!!!

[@gdelacruzjr]

I've avoided all of those mistakes...but boy do I want a shiny new car 😭😭😭

[@zakmartinez4976]

Love your channel you're advice is amazing!

[@DrHemimuscle]

I don't have a perfect hairline but I'm onboard with everything else. Love the videos 💯

[@calgaryrealestatewithvictoria]

Your videos inspired me to get totally out of debt and start saving for a house and potential rental property. I sold my beautiful car back to the dealership. I broke even and didn't end up owing them any money because the used market was really good last year. Then I bought a used vehicle for cash. It feels good to have no debt! Little steps slowly start to pay off.