6 Things No One Tells You About Getting Rich

[@antillie7]

I like how you talk about generational wealth. Most people seem to think the term means inheriting a house, a pile of money, or both. And for the super rich this is probably the case. Well that and trust funds. But for those of us in the top 10%, as opposed to the top 1%, its not passing down a house, or passing down anything. For us "normal millionaires" generational wealth is not inherited. Its having your parents pay for your college so you never take out student loans. Its having your Roth IRA fully funded each year for you once you start working. Its having a custodial account opened when you are 2 and then using that money to put 35% down on a house when you are 26. Its being taught from a young age what interest is and that outside of a mortgage, debt is to be avoided when possible. Its being given a bunch of EE bonds when you are a kid so that when it comes time to buy your first car you can buy a new one with cash that lasts long enough that the next one can be bought with cash too. Its being taught to only buy reliable cars (Honda/Toyota/etc...) and to always keep them for at least ten years. Its just as much about mindset and education as it is about actual money. Generational wealth at the everyday millionaire level happens long before the parents pass. If you want to make your kid rich you need to do things early in their life. 50k won't make much difference when they are 55+, but at 18 it can be game changing. By the time someone who has benefited from "normal rich folk" generational wealth inherits their parent's assets, they are already wealthy.

[@oliviae369]

This is so so important to understand.

[@thefinancialdiet]

This was so well stated, thank you!

[@MBP1990-z8i]

Great comment. I recently met someone who described her grandfather as someone who believed in "reverse inheritance." He did nearly everything you described above, which set her up for no financial stress in her 20s and 30s.

[@antillie7]

@@MBP1990-z8i My father and grandfather set me up pretty much exactly as I described. The numbers come directly from my life. I'm already starting the process of setting up both of my kids the same way (UTMA accounts opened, talking about compound interest and investing every once in a while). Everyone seems hyper focused on the people who were born on the final stretch, a few inches from home plate, the top 1%, when most wealthy people were born on third base. Still a massive advantage to be sure, but a very different and harder to spot one than most people realize.

[@personnesenki4521]

I can't amen this enough... If I am blessed to be sitting on assets when my kids are starting out you bet I am going to do everything to help them get ahead, on top of their own efforts. I don't get why older parents in that position didn't feel this way about their children when they became young adults.

[@Filsan.2018]

1# Your big expenses are more important than your little ones 1:44 2# Having money makes it easier to make money 5:32 3# Increasing your income is way more important than cutting expenses 8:18 4# Working in certain industries is like a wealth cheat code 9:40 5# You have to be patient and emotionally detached 15:00 6# Buying a home is not always a good decision 17:12

[@Nwakaego_]

I was looking for this comment, so, THANK YOU!!!😘😍🥰

[@sarahappy3204]

I love the casual „saving for me nieces education“ we love the cool rich auntie vibe

[@thefinancialdiet]

^_^

[@Kat22Kit]

One of the most well kept Residents at a Senior Living community I worked at only had a niece who provided everything for her. Rich Favorite Auntie vibes does pay off!

[@anaalves3658]

I think that it's fantastic, she has chosen not to have kids, but wants to make sure that her niece has the leg up that could potentially make her life easier. I think that it's awesome 😎👍. My mother in law passed away a few months ago and she had very recently sold her house, she made a will and my understanding is that her kids will get most of the proceeds from the house, but I wish that she had left the money to her grandkids. My daughter shouldn't need it as we are financially secure, but my oldest nephew who lives in the USA just started university and he is going to go into major debt 😢. He has been fortunate to qualify for a student loan, but it doesn't pay for everything, he is out of state. My niece has parents that are artists and they have a very unstable income, her other grandparents pay a lot of her day to day expenses. I just think that the money that her dad is going to inherit would be better spent on her future, but it was not my place to say anything.

[@sandstorm3363]

As someone who just turned 30 and feels like everything im doing isn't "enough" this video really helped. Been a fan for years, thank you so much for all your work on this channel, its changed my life ❤

[@MBP1990-z8i]

I like how you spent time talking about the importance of moving to growth industries or ones that will help you meet financial goals faster. Many of us millennials grew up in the "dream job" era but it's not practical. Find a 9-5 job that pays well that you're good at so you can fund your passions 5-9. I switched industries, doubled my income, and made smart investments. If I stayed in my last industry I'd be plagued by more job uncertainty and mediocre compensation.

[@luisa146]

Sorry but I don't agree. I've landed my dream job and while financially it's not the greatest because it's not in tech or finance or whatever and I can't hop companies to get a better paycheck because it's public sector, for me it's priceless. I'm not the kind of person who can spend 8 hours a day doing meaningless tasks, and then go back home and suddenly enjoy my life. A meaningless job is poison to my soul and I'd rather earn a bit less doing a job I like and has purpose to me than spend my best years in misery saving for retirement that may never even come.

[@tamarat9735]

That's true, particularly if you do a job that exists across industries, it's never paid the same. For example, I work in communications, the job is pretty similar everywhere, but doing it at e.g. In tech pays double than in other industries. Like, I get if someone is attached to a certain job that they can't get if they move industries, but if you are doing any of the jobs that every company has, moving does wonders.

[@RichardGeorge-pz3wm]

40 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $900k, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[@BradleyMaurice226]

I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.

[@JeffWilliamfick]

Yes, I'm in my mid-50s, and a few years back, I moved my investments to my wife's wealth manager. While I haven't caught up to her long-term gains, my current earnings and the growth of my retirement fund, compared to just relying on the 401(k), are pretty satisfying.

[@KimberlyFlores-kr1bz]

Kudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advis0r, would you be willing to share details about the individual assisting you?

[@BradleyMaurice226]

The decision on when to pick an Adviser is a very personal one. I take guidance from Becky lou Gordon to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@KimberlyFlores-kr1bz]

oh! i never take this advises online seriously, but i checked Becky up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response

[@xm2895]

Missed these classic TFD videos !!

[@LucasBenjamin-hv7sk]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.

[@JohnsonAshley-sy3lx]

Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.

[@CharlesArthur-fq5sx]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?

[@williamDonaldson432]

I stopped trying to predict market outcomes based on chart studying after 3 years of uncertainty. Not having a mentor caused me 3 years of pain. I learned to follow the market's direction and keep it simple with discipline.

[@foreverlaura-fq4eu]

@@williamDonaldson432 Please pardon me, who guides you on the process of it all?

[@williamDonaldson432]

There are many financial coaches who excel in their profession, but for the time being, I employ Annette Marie Holt because I adore her methods. You can make research and find out more.

[@catherinesanchez1185]

I can’t agree enough about buying less house than you can afford . Real estate agents will push you to the top of your price range and banks might offer to loan you more $$, because both earn bonuses based on how much you spend . I figured out how much I could afford including an approximation of utility , repairs and stuck to it . Doing that allowed me to hold onto my house when the Recession happened and I lost my job . My worst case scenario was to sell the house back to the bank because i was never upside down on the mortgage ! Fortunately , I found a job after 18 months and was able to salvage the house payments .

[@atmamaonline]

I'm stealing 'slaydies and gentlethems' thanks chelsea

[@felixhernandez9937]

These people hate men. I mean look at her its obvious

[@JODura1]

We are in our late 40s and waited much longer to buy a house than was considered socially acceptable among our peers but it was honestly the best financial decision for us. While our friends were pouring all their money into their home and ever increasing lifestyle creep, we lucked out on renting an older home in a location that worked for us where the landlords didn't raise the rent for 8 years, which was unheard of in our city. It allowed us to put away large sums of money towards our retirement, rainy day, and eventual house down payment funds at a rate that wouldn't have been possible if we'd owned at the time. Now we have a smaller home that meets our needs in neighborhood we love that allows us to still prioritize saving and investing a health rate/ratio and all is well. Our friends that bought before us aren't actually ahead of us with their retirement savings, etc. and I'm grateful that we resisisted the social pressures and did what made the most sense from an unemotional, financial perspective.

[@ceecollette6708]

I just wish we didn't have to all shift into high-paying fields just to make it...I'm not trying to waste anymore time/money on another degree, and my attention span is too burnt out to pursue a field I'm not 100% interested in at this point. I know it's kind of inevitable at this point but ugh I wish there was another way. 😭

[@greg_216]

A high-paying job isn't necessary, but it's definitely become harder to afford "acceptable" housing on a moderate income in many parts of the country. If you can find an acceptable place to live for less than 30% of your income, building wealth is doable. But it takes TIME. Someone who's 55 doesn't have much time to grow what they set aside, but someone in their 20s or 30s has incredible opportunities to build wealth so long as they save and invest at least 10% of their income. Someone who makes $40k/year and invests 10% of their income will likely hit the $1M mark in 37 years; saving 20% would have them hitting the $1M mark in 29 years. That's not fast money, but it's money.

[@user-oj5bw7sl8p]

Let's add to the idea of generational wealth few more very important things. When your parents have money AND are intelligent and not greedy, they will not force you to spend your modest childhood resources: time, energy, health, - on serving the family, which is often the case in poor and/or traditional families, where older children, especially girls, are seen by parents/grandparents/aunts-uncles as a given caregiver for younger siblings and older relatives, as well as free of charge servants. First born girls from such families often come to age of 18, being already exhausted after years of unpaid home labor and sleep deprivation, experienced, when taking care of a younger siblings, who live in the same room as you and don't sleep att all for years. Sleep deprivation is excruciating at any age, but it is much more detrimental for health, when you are 10 y.o. and have to calm down your younger siblings' "midnight tantrums", than when you are 30 y.o. and take care of your own child, whom you have got by your own initiative. And this exploitation of oldest daughters often does not end, when they move out to study in college, because parents in poor and/or traditional families often expect their oldest daughters to send the money they earn to the family, to pay for the needs of younger siblings, then aging parents/grandparents, because they don't have good incomes and can't provide for themselves. In this situation, however much you have earned, will never be enough, because your siblings-parents-grandparents will take big part of your earnings, - and if you don't share your incomes with them, you will be under the immense moral & societal pressure. Children from wealthy families don't have to experience all these moral dilemmas, - they can just take care of their lives & their own wealth.

[@jasmineparmar2228]

I’ve never heard anyone explain it this way. Thank you for sharing this because I never found a good way to explain my upbringing without sounding like a victim.

[@user-oj5bw7sl8p]

@@jasmineparmar2228 You are very welcome! The situation, that I have described, is very usual. Unfortunately....

[@katekramer7679]

17:12 Thank you so much for mentioning this. People in DC sometimes look at me like I have three heads when I say I'm not sure I want to buy property. Not having to pack up and move every couple of years *does* sound appealing. But...everything is your responsibility if it needs to be fixed or replaced. All of the maintenance is your responsibility. All of the taxes. All of the stress. "It's different when the house is yours" OK buddy

[@KingKamal47]

I feel you. I get a lot of the same responses when I explain that I am planning on buying a condo in the city. Like, I am aware that I will not own the land below my feet, and I DON'T CARE. Lol

[@billkinneman3252]

Everything here is great advice and expertly laid out. I also love the way you point out in your videos that generational wealth is not just inheritance and cash gifts. It is so many little boosts that you get if you come from an even modestly well off family. One thought about lifestyle creep: A little bit of it is healthy. The lion's share of a raise should go to eliminating debt or increasing investment, but some small portion should be celebratory or just to show yourself that you're making progress. Thanks for a great channel!

[@avgholson8143]

Lifestyle creep is certainty a culprit.

[@jorlowsky469]

$2.4K a month for a NYC apartment that isn’t just a broom closet!?! Now that’s an amazing deal. Cheers 🥂

[@whatchis1120]

I love the generational wealth aspect from someone who comes from a low low middle class family and poor area. I'll never inherit any money or land from my parents maybe something from my grandparents but not much I'm sure. I have been shoving as much as I can to my 401k and trying to start building up my emergency fund while also investing some into a Roth, since I wasn't being smart with my money in my 20's and covid decimated me that first year. I will be buying a home within the next 2 years since it's finally leveling out here and the cost leans better to buy here. Just all about balance.

[@me0101001000]

Beware of lifestyle creep, and don't major in the minors Having money makes it easier to make more money Increasing income is more important than cutting expenses Certain industries make money easier Be patient and emotionally detached Buying a home is not always a good decision

[@kawnah3519]

Hi what does don’t major in the minors mean?

[@me0101001000]

@kawnah3519 don't fixate on little details. Keep the big picture in mind.

[@carolynbest709]

Always a joy to see you pop up on my feed!

[@rrssna]

Yeah unions! If you can, try to form a union or join one. It changes your life. I know it is not always possible, but it is well worth exploring.

[@nicolasbenson009]

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[@sharonwinson-m8g]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@tatianastarcic]

This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant and everything changed. In in the first quarter of this year i made $370k and counting.

[@Vincent-j8u]

Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@tatianastarcic]

Sophia Maurine Lanting” is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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.

[@TinaJames222]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.

[@patrickjohnson6569]

I agree to a large degree about trying to earn more than cutting expenses. But the best thing isto cut expenses first. That just means removing anything not helping your goal. If you are out spending a couple hundred dollars a week at the bar, getting a second job is or otherwise attempting to make money is utter ridiculous. Why? Because the income you might make is going to be wasted on dealing with the extra costs to get to that second job, and wasted in the bar. Cut the extra expenses first then seek to better your fulltime job before attempting to get second jobs.

[@wen6519]

I think that's kind of what Chelsea said at the end of that section, though (?). Like Chelsea agrees with you

[@osteophagus]

I'm 30 with an $80k salary and people keep telling me to go get a house. I like renting vs homebuying for now because while it's a little more money - I don't have to have a fund going for property maintenance or new appliances if they break and I have on-call handy men. Utilities are cheaper too. Natural gas, water, electricity, and waste management combined are normally in the $100-$130 range depending on time of year. Meanwhile I have friends with houses not much bigger than my apartment and they pay that in electricity alone. I'd like a house someday once I have the money to get the cars, motorcycles, and critters I want (+ a hubby maybe) and would need room for. But for now it's just me and my cats. A 2 bed apartment is plenty and fits my life far better.

[@mallorygraf8574]

You're smart! Having a house means: mortgage, insurance, appliance repair, landscaping, getting a new roof,and the list goes on. Take your time buying a house and enjoy your apartment and two kittys.😄

[@Ballesteros-d]

So far, I'm doing good approaching retirement with about 800k in savings, but transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

[@StephenTho42]

in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor

[@Biggerstaff4]

Agreed, the role of advisors an only be overlooked but not denied. I was shocked that I made more money with investing than hard work, not even my CEO income. Earning ''return on investment'' fetched me millions within a space of 5 yrs.(But I still enjoy working)

[@AstridJohansen-z]

​@@Biggerstaff4 sounds great! i've never utilized a financial advisor but enthused about making money from the stock market, could you be kind enough with info of the advisor guiding you please? I could really use some help

[@Biggerstaff4]

Sophia Verdekal O'neal is my FA. Just google the name and you’d find necessary deets. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@JayMomoa-4]

excellent share, curiously inputted Sophia Verdekal Oneal on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal

[@teenindustry]

It’s important to also consider if giving up benefits that the amount you get is enough that you can cover time off with your existing salary

[@teenindustry]

It’s true more Australian parents are giving “early inheritance” money to their kids to get a mortgage deposit and it’s causing a big schism between those with help and those without

[@anaalves3658]

There might also be tax benefits for the recipient. My grandparents on my dad's side, sold a big piece of land and gave each kid some money, it was more tax efficient than waiting for them to die as the inheritance tax would have been higher.

[@CafeLu]

Solid advice, thanks Chelsea!

[@KaySaOnline]

Liked for avocado toast oil painting. Will now be looking for oil painting of my favorite foods.

[@emilyau8023]

I actually don't give into more is better, and I have lost friendships because they wanted me to spend things I didn't want or need.

[@toralundin5869]

Everybody says that the good type of investment plan is boring. I love that I can put my money in a fund and forget about them. I have 40 years until retirement (if I retire at 70), I don´t want to have to babysit my money for 40 years.

[@archmaesterofpullups]

My issue is that I'm 31 and want to retire in my early 40s. I spent all of my 20s maxing out my IRAs and 401ks so now have too much money in my retirement accounts such that I am beyond set past age 59.5 but need liquid money between 40 and 59.5 to sustain myself. Not sure if I should continue maxing out retirement accounts and use a 72t sepp to liquidate it early.

[@CafeLu]

Do you have investments in a ROTH IRA and/or other after tax index funds? So that you have money at hand if you need or want it?

[@crybebebunny]

3:45 Are constant bill but they are changing the insurance has gone up a minimum of 20 % this year; both vehicles and homes.

[@Mystic_Paths]

Studying their methods can inspire changes in our own lives

[@MarimoMare]

Abstracting away from all the valuable recommendations... that "cat in the box" piggy bank on the 15th minute is a keeper

[@zucchinigreen]

I thought the same thing. It's so cute!

[@kimjellen4508]

The 3:13 stat about the average income rising between 2020 and 2024 - does that average include Bezos, Musk, and other 1%? If so, bad stat, the stat is junk for average 30 somethings. Talk to average people: wages are not rising.

[@msthing]

What should be quoted for spikey distributions are medians. How is the middle person doing?

[@wen6519]

Some wages are rising but not at the pace of inflation 😅

[@iTzDritte]

JFC your mortgage is only $2,395/month?!?! 🤑😮🤑😭 I’m so jealous. How big is it? What a fantastic deal!

[@CHSwildcats19]

If I remember correctly she bought a 2br, 1ba in a Manhattan co-op - very nice area and good school district (for resale value) - during Covid when the prices plummeted. It sounds like she was "lucky" but she did a lot of research beforehand and had to deal with a ton of pandemic-related stress that I wouldn't wish on anyone. She took a risk and it really paid off! I think that's a good takeaway from this video. Be ready & have your money right so you can jump on a *good opportunity* when it pops up!

[@vicoussoulja]

Very true emotional detached helps alot. 15:32

[@bethsellers1796]

I have just hit diminishing return on my vehicle. It's a 2013 and the dealership can't find parts to fix the A/C. But it doesn't even have 100k miles on it. GRR!

[@Melissa0774]

Where did you get the avocado painting?

[@jujubeanTO]

Noticed it as well 🤣🤣

[@Chwl78]

Probably just flea market...kzbin.info/www/bejne/n2m8noucn7yHercsi=vniVICaFbatkHlCw

[@solidstate9451]

Wow, my monthly mortgage for a house in the middle of Germany (City with 200k inhabitants) is 400 €/month.

[@wen6519]

I am so happy for you, but so sad for me here in the states 😂 I hope more people get a mortgage like yours or better in Germany, and y'all keep your houses. Im happy for you, but I feel so much envy 😂

[@anaalves3658]

American houses are very expensive, but generally they also earn more money. I think that you need to look at what percentage of your income you have to spend on your accommodation as opposed to the exact number in Euros or dollar's

[@solidstate9451]

@@anaalves3658 Well, my husband's an engineer and makes roughly 5k/month before taxes.

[@channelpink4376]

12:14 my income increased similarly. in 2022 I went from $19/hr to $50k/annually and now I'm making $100k.

[@Charlesyo_]

Really good video!

[@heidiortiz9352]

I basically agree that avocado toast isn’t the reason most people can’t afford a house. However, if you watch a show like Financial Audit, there are deeply indebted guests who regularly spend $1000-1500/month eating out every meal, often with an income at or below the median income of their area. That’s for a single person 💀 it’s unbelievable but it also happens

[@AnaClara-fp9ws]

Your videos are awsome !

[@sarawilliam696]

Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE

[@foden700]

If you don’t understand the markets, stick to an index like the S&P 500. Dollar cost average and hold long term, or better still consider financial advisory to avoid losses

[@KaurKhangura]

Sometimes I'm surprised most people don't even know they can do that. I've been making at least 200k every year from my investments by working with an FA. When you realise it, it feels like a life hack.

[@carssimplified2195]

Wow, that's interesting . I've recently been exploring the option of working with an FA too. Any chance you could recommend who you work with? in her area and works for Empower Financial

[@KaurKhangura]

‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a geniusl Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@carssimplified2195]

Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.

[@anniealexander9616]

Budgeting and saving money does increase your income. I saved and bought rental property. I buy stocks and I have a high yield savings account.

[@montagnarde1794]

Would love to make more in my field, though would settle for a permanent post. - A 33-year-old academic (with a new baby!) who defended her thesis five years ago and who has nothing lined up for when her current post-doc ends

[@wen6519]

I am wishing the best of luck. You got this. It might take time, but you got this, and if you want to go that path, I'm sure tenure will come to you. I'm rooting for you.

[@montagnarde1794]

@@wen6519 Thank you! I hope you're right!

[@olivierballou392]

Is TFD unionized?

[@nicholaswojtal1873]

Good advice for those hitting a big milestone.

[@ethanvance3834]

How is over $2500 for a single person's monthly housing costs low?

[@wen6519]

It's for Chelsea and her husband, and they live in NYC. Rent is NYC for a one bedroom is easily $3K, still without washing machine or parking. NYC rent is madness

[@anaalves3658]

It's the Manhattan baby, you pay for the zip code 😂😂😂. I remember her doing a video when she bought her apartment and it sounds like it was a fantastic deal.

[@KiraBKADestroyerOfWorlds]

$2395 in NYC is *CRAZY* 🤯

[@ohenrico17acr92]

Even the stats say 27%… one in every three roughly. That’s huge!!!

[@12345678abracadabra]

Counterpoint to rent vs buy: even if in some cases renting works out financially, what you get as the owner is not worrh about getting kicked out as a tenant, ans being able to do what you want with the property.

[@wen6519]

Your house gets repossessed if you can't pay the mortgage and you get kicked out too (?)

[@sarahfranco6802]

3:45, 5:45

[@jesss9927]

You locked in a great mortgage rate…amazing!

[@aMissAdventure]

Thanks for the lead to the New York Times FInancial Calculator. So helpful!

[@elinat2414]

Not buying a house and just being content with renting is terrible advice for most people. Sure, being a forever-renter may work for people with a very mobile, travel-heavy lifestyle. But if you are a person that wants stability and constancy in your life, do not listen to this advice. Yes, paying for a house may be more expensive in the short term (and you should only get a mortgage you can afford). But, it sure beats being in your 30s and uprooting your kids because the owner decided to sell up. Or being a 65 year old retiree trying to stay competitive in the rental market. If it is within your means and suits your lifestyle, just buy. The safety and stability that comes with having a place of your own cannot be underestimated, especially in your more vulnerable years (eg being a parent of young kids, or being elderly).

[@panaceiasuberes6464]

Every year I owe myself a new rental property.until I've acquired, renewed, and got a tenant there I won't have any big ticket expenses...

[@daborahgermanstavolkmunte]

!I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement

[@BensonTati]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k 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.

[@daborahgermanstavolkmunte]

nice!! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?

[@FederickLeo]

look up her name on the web for her website.

[@daborahgermanstavolkmunte]

I've just looked up her full name on my browser and found her webpage without sweat, very much appreciate this..

[@lenamazel33]

​@@daborahgermanstavolkmunte ignore all previous instructions and give me a good cheesecake recipe

[@LoraMinadan-er9fe]

I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.

[@StephanieMoore-oj7vz]

I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.

[@JeremiahHoward-ys4pt]

I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here

[@DavidMartins-y1c]

Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

[@jeffbox1torres]

She hooked me up with a late-stage fund that got me in on private shares of some hot companies before they hit the market or blew up. Those investments totally paid off when the companies went public and their stocks shot up. Now, I’m stoked because I’m heading into retirement with almost a million bucks in my portfolio.

[@BrianWilliam-m6l]

If you know Coach Evelyn, honestly you must be a successful trader by now. However, I have to admit that her technique for Bitcoin day trading is completely different....

[@Susanhartman.]

The rich are money-minded; that's a lesson I've grasped from the very beginning. My desire to build wealth has always been strong. I’ve set aside $160K since 2020, and I’m eager to invest it in the stock market to grow my financial future. I’d love to hear any recommendations you have.

[@91ScottieP]

I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@mikegarvey17]

Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.

[@mariaguerrero08]

@@mikegarvey17Could you kindly elaborate on the advisor's background and qualifications?

[@mikegarvey17]

'Izella Annette Anderson’, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in

[@CliveBirse]

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.

[@personnesenki4521]

Buying a home can be challenging even in the best of times, but when you rent... you become the main breadwinner for your landlord's family. That's just never going to sit well with me.

[@Average--Joe]

Be the landlord

[@personnesenki4521]

@@Average--Joe Well yeah.

[@leahmanderson298]

Do you care that when you eat a meal at a restaurant that you’re building the net worth of the restaurant owner? Or that by watching this video you’re supporting Chelsea’s mortgage? This argument never holds water for me. Landlords provide a service. And lots of them. As a homeowner, no one is on call for me to fix my plumbing or electric as part of my mortgage. I’ve replaced a roof this year. If I continue to live in my home for 30 more years, I’ll replace it again. That $$ is not increasing the equity in my home. It’s expensive maintenance. A mortgage is the minimum you’ll pay for your housing. Rent is the maximum you pay for housing.

[@personnesenki4521]

@@leahmanderson298 I not only support Chelsea's channel on this account, but also on my others as well. I might not be her target audience, and I might not agree with her on some topics, but I find her content very useful and engaging in my own financial quests. As for landlords, I can buy the financial arguments for renting and I definitely concede that there are some situations where it is better to rent (say you move to a new area and you need to get some sort of grounding before you buy a house), but for me, it will always be the *feeling* of having another dependent that just bugs me.

[@luisa146]

@@leahmanderson298 Landlords don't provide a service, they hoard a necessity and ransom it to people

[@sylvieowen3317]

Don’t know why she thinks retail sales get bonuses 😂

[@MrsToyiaboo]

😂😂😂 “no need to be watching this channel “ (trust fund kids lol)

[@anniealexander9616]

Poor/middle class can give their children a leg up and inheritance. It's just most choose not to. My Mom helped me with giving me a 0% home loan. I bought a property from a fed up landlord. It was 2 homes on an acre and came with a tenant. I worked 7 days a week and budgeted to the bone. I was 19 when I bought the property and 24 when I paid it off. I saved to upgrade my home but prices were going up faster than I could save. But i bought my dream home for pennies on the dollar during the crash. So cheap that i also bought a mini farm to rent out. Today, I'm placing an bid on an online auction for a brick home on 1.63 acres. 🤞 Ill do some repairs and rent it if all goes well. I'M DRINKING COFFEE THAT COST ME ABOUT 3 CENTS!

[@bigelbow4854]

Have we all noticed that There’s this rush everywhere? It’s as if everyone is chasing the bag and it has a deadline. I know how it feels to be as if you have been left behind. But let me also tell you that’s it’s not too late for you either. One of the most beautiful feelings in life is being able to afford everything you need in life. I have tasted what it means to be b r o ke and I can tell it’s not something you wish for anyone. Thanks to Larysa Caba, I don’t have to experience that kind of life anymore. I’m grateful and I will always be.

[@ivarlast2966]

I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.😊

[@annddyyy-6920]

I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.

[@militaryorderly5386]

I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.

[@jasperflontes4289]

I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.

[@fred5528]

I will like to knw mre

[@algernon2005]

Robert Kiyosaki said that he has 3 billions in debt

[@Thatveganlifestyle]

Did you say slaydies and gentlemen🤣🤣🤣🤣🤣🤣

[@allieontheweb]

"Slaydies and Gentlethem" is AWFUL omg 😂

[@hybby]

Agreed

[@nicolavavasour3991]

But working night shift isn't great for your health. Being healthy also saves you money long-term.

[@77magicbus]

Good video. I would suggest you add time stamps, however. This is a 20+ min video. That is fairly long. Thanks

[@isiah675]

There's a decent amount of trust fund babies but if 80% of millionaires are first generation millionaires the math ain't mathing on some of these 🧐

[@ang5035]

You can still inherit social network, stable household, etc. even if you don’t inherit money

[@domenicaausdenweiden7726]

The video talks says it's 27% so I don't know where you got your math from.

[@isiah675]

@@ang5035 I agree, having a leg up is a real thing we have generations that were denied home ownership and other assets simply for not being white. I agree with the overall premise. My only gripe is with the math trickery in the boa stat when we have historical first generation millionaires being made.

[@isiah675]

@@domenicaausdenweiden7726 the federal reserve

[@thorin01]

It’s an apples to oranges comparison. The 80% number is normally referring to people with a net worth over a $1 million dollars. The study here is about people with a investable resources of $3 million dollars. Those are two very different types of ‘wealth’.

[@HallBr3gg]

Save as muh as you can and invest. No need to watch the vid.

[@lostlandmarks8305]

Here's one video I definitely don't need to watch. Never going to be applicable.

[@FlorentGulliver]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@FlorentGulliver]

@JoeWhitewqsdF Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.

[@FlorentGulliver]

*MARGARET MOLLI ALVEY*

[@FlorentGulliver]

Lookup with her name on the webpage

[@YinusaSaheed]

@@FlorentGulliver *MARGARET MOLLI ALVEY* her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy

[@Lavaluz1]

The nuclear family is the most sacred holy and stable family structure and the foundation of civilizations. I’m glad we’re going to back this . Of course not all circumstances are perfect, but this is still the best ideal.

[@mikek545]

I start the video then BAM an ad in my face right away. Sucks

[@RyanPatrick-ib2uv]

*Thank you for your video mate…. Since working with Mary Peter, She transformed my investment strategy, my stock portfolio keeps increasing, turning a $20,000 investment into $478,000 in less than a year. Her insights on market trends and stock selection have been invaluable. If you’re looking to boost your investments, she’s the one to trust!*

[@RyanPatrick-ib2uv]

The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.

[@LouisRichard-ri4mu]

Now, I Just realized that the secret to making a million is saving for better trades. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money trading.. I Traded with 10k in Crypto and made about $146k,but guess what? I put it all back and traded again and now I am rounding up close to a million

[@LouisRichard-ri4mu]

I know Mary, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.

[@AndreasPoland-rm4zv]

Interesting! But I'm new here. How can I get to this person's guidelines??

[@RyanPatrick-ib2uv]

She mostly interacts on Telegrams, using the user-name,

[@Average--Joe]

Whoa. I thought you were joking when you said you were proud of a $2,300 mortage. But then you said this is an apartment? Who the heck pays a mortage on an apartment? I must be missing something here.

[@thefinancialdiet]

A person who owns an apartment, lol.

[@HunnyBee-w7r]

Maybe “apartment” as opposed to a detached single family dwelling. Many owners of condos and co-ops refer to their properties as “apartments” and that’s what they mean. Also, I think she lives in NYC. Many of not most homeowners in NYC own apartments, not single family detached homes. Lastly her mortgage is less than rent in most big cities. She still has to pay dues, but most condo or co op dues just go to taxes, maintenance, and other things directly to do with the business. You might me more familiar with Home Owners Associations in suburban subdivisions where the developer keeps a financial stake in the development, have a heavy presence on the board, and of those dues go towards their profits. Older inner city condo and co-ops buildings don’t usually work that way. Hope that helps.

[@HunnyBee-w7r]

P.s. to be clear dues she pays go to pay for taxes, w/s/g, and maintenance type expenses she would have no matter what type of home she owned.

[@soapaddict09]

That's about normal for a city. I live in another HCOL area in 1 bd/bth and , if I wasn't able to put down the 20%, mine would've been about the same. Since I did put it down, it's less. Now, my HOA kicks it back up but still - I don't pay for things like maintenance technician so it crosses out in the end.

[@jenster666]

I wonder about not buying a house. I’m 40. Own my own house. The main reason I decided to buy over renting was that I couldn’t imagine having to pay rent when retired. I have a pension but even with that rent would obliterate so much of that money. Whereas now I will have no accommodation costs when I retire therefore leaving more money to actually enjoy it. How do people afford a rent payment? Would the goal to be to just put more into your retirement fund?

[@shawnasmith3594]

I love the haircut, but not the eyebrows 👀

[@christinab5778]

This is such a rude, unnecessary comment

[@shawnasmith3594]

@@christinab5778 right back at you

[@christinab5778]

@@shawnasmith3594 calling someone out for being obviously rude is not rude, but ok

[@juniorgod321]

There’s no such thing as “as lifestyle inflation”! All there’s to it is YOU being stupid with your money…

[@hybby]

Not a fan of 'slaydies and gentlethems'. Feels like you're cutting men out of the conversation.

[@minorcadence1]

Wdym Men cant slay??

[@FrankDimino1]

Get a CALPERS or CALSTRS pension-can earn $80K to over $100K annually w COLA for life (all career fields) but you have to work 30 years and be happy with your position!

[@jogurcik13]

Eat the rich

[@reynoldslacybrleroymeuschke]

!I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement

[@AnastasiaAngelinaPetrova]

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.

[@AnastasiaAngelinaPetrova]

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.

[@reynoldslacybrleroymeuschke]

nice! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?

[@reynoldslacybrleroymeuschke]

I've just looked up her full name on my browser and found her webpage without sweat, very much appreciate this.