7 Crucial Steps to Build Wealth ASAP!

[@GrowingPIGs]

Lot's of good ideas, and very cautious. However from my own personal experiences with financial debt(illness in family) the Debt-Snowball over Debt-avalanche seemed to better suit me, those small victories help to keep me motivated. Good info in these videos, keep it up.

[@Sanspepins]

Needed this as a reminder. I never really had trouble saving once I decided to do so, until around 20k. Once I got there every time I wanted something I justified it with "well I have some savings so spending a little doesn't hurt." Now I think people should still be willing to spend on themselves every once in a while. What's the point of life if you aren't living? But this reminded me to set proper priorities and spend with moderation.

[@chemquests]

It should definitely be a “both” decision. Automating saving and budgeting for fun can coexist.

[@Countstep0099]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

[@Petroguest-i4g]

You’re right!

[@wealthychronicle-i1u]

Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2016 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.

[@Countstep0099]

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@wealthychronicle-i1u]

There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon , and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her

[@Countstep0099]

I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away

[@calebwert1057]

I just wanted to say that Fidelity really is one of the best brokerage accounts. The app is extremely simple to use. On desktop you can see your performance. And their customer service is amazing.

[@eddiethealbatross5734]

Starting this right now, got 500 in a monthly dividend stock, and another 500 split into 3 quarterly stocks, goal is to get paid every week in dividend income to make each week matter financially. Getting paid twice a month on a wee salary or sometimes once ain't it for me so I'm getting around it through divvies if I can :) Make a video on dividends you can buy for weekly income if you can :) Novembers a longer month and idk any companies that pay in the last week.

[@The_PlagueDoctor]

12:40 so true! I spent 2k on my camera gear and it launched me into a whole new field with more money flow

[@humphrey]

NICE!

[@dlyroadrunner]

Trynna be like you!!

[@nicholassheppard9311]

Thanks brother I appreciate your time. 😎

[@MasterpieceFinance]

great tips as always Humphrey! Love that 4% rule :)

[@DtlaDaisy]

Hi Humphrey! Newish subscriber here👋I just recently built my emergency fund back up to $1000 and was looking for the next steps. I have a 401k from a previous employer that I need to rollover, (2) IRAs and (2) Roth IRAs (1 set in Betterment, 1 set in Vanguard), no credit card debt, $27k in student loans and $6k car loan (that will be paid off in 6 months). I'm hoping the recent student loan forgiveness will knock that down to $17k, but we'll see. I've been watching your dividend videos, trying to figure out how to setup the dividend portfolio as well. Thanks for always sharing this info! I enjoy the visual graphics/terms on screen because it's easier for noobies like me to understand. Cheers!

[@humphrey]

Hey Kristina. I would definitely pay off your car and make sure you get the 401k match from your employer and then you can basically start investing from there.

[@humphrey]

After that you can start investing in your Roth IRA, paying off student loan debt.

[@rland503]

I am in my early 30s and just started about 2yrs with investing. What podcasts would you recommend about finance and money handling? Btw, your videos have been very helpful and useful. I definitely have learned a thing or two. Keep those videos coming!

[@gutersteinker]

Warren Buffet

[@McChery369]

The money guy podcast and the money girl podcast is great for personal finance. The compound and friends and going all in are great for just info on the market currently. The plain bagel and two cents are KZbin freebies. Good luck

[@en3mes]

Great video, although I slightly disagree with a car being an asset since it depreciates over time and has a lot of maintenance fees. I get that it is considered to be a depreciating asset, but I view cars more as liabilities.

[@dogbots159]

That’s why you buy electric. Low running cost, low maintenance costs, and with tax credits there are economic options less than $20k.

[@pat2not]

@@dogbots159 nah I’m good

[@Sky-vg9dx]

Unless you need to be carrying a lot of bags & need storage, skip the car & buy a bicycle

[@minitwizz2106]

Depends on the vehicle I own a Japanese “rare” vehicle witch is increasing in price by quite a lot and in a few years it’s eligible for insurance in USA so demand will likely increase, I also made $1500 off my last car for it being hard to find and the market for used cars being crazy

[@ShortiXXL]

A car is (almost) never an asset!

[@szvqorwnpstahskypfwmp9821]

Great video as always!! Thank you!!

[@roadmapmoney]

Great tips on how to manage money after $1,000, and honestly, Fidelity is quickly becoming by favorite investment platform. Opened accounts for my kids recently, much easier than Vanguard, tbh.

[@humphrey]

I love Fidelity!

[@mmserenityllc]

Do you do free consultation

[@allenyes4687]

Hey Mr. Yang I recently had to dropout of college to help my father pay down the mortgage on his house. Do you have any tips on how to save for investment in my situation. I am working a retail sales job for minimum wage in California. Greatly appreciated if you respond

[@humphrey]

Hi Allen, that is very noble of you. Minimum wage is tough, your best path is to try to learn at night/in your free time to get a better paying job. What else are you interested in? Is there a trade you could learn?

[@allenyes4687]

@@humphrey I was a STEM major in college for 2 years, which I was interested in becoming a doctor with the foundation of a microbiology degree. I'm not sure what trade exists with that background or near it. Was planning on working as an intern with the CDC. Do you know if anything like this exists?

[@the-fantabulous-g]

@@allenyes4687 I think that might fall out of Humphrey’s specialty, but as a STEM major I wanna say that Biology’s a bit underpaid as a degree; does engineering or computer science sound appealing to you as a career path? With increased maturity from your years (and also drive from the jobs you worked), I think those careers can be cool if you have passion for them. Pays nicely too. A lot of times, we’re our biggest limiter; impossibility really only exists at the boundaries of our imagination. Godspeed my friend.

[@jackreign67]

Save money live better. Humphreys

[@bluemoonsipper]

thank you for the video!!

[@humphrey]

My pleasure!

[@josephsaeteurn9158]

i started this year with my ROth IRA @6000.. went as high as $9,500 and i was like, this is easy and then now im down to $7000.. still somewhat happy but not as happy as i would like..

[@Jeremy.Bearemy]

Money will NEVER deliver happiness. The more you have, the more unhappy you will be

[@josephsaeteurn9158]

@@Jeremy.Bearemy is elon musk unhappy? is bill gates unhappy? get out here with your nonsense..

[@liuyang7388]

Good for you. I also started Roth this year. Started at 2k. Now it’s even less than that. 😅

[@darvynm541]

@@Jeremy.Bearemy That’s what poor people say to make themselves feel better about being poor and what rich people say to stop people from wanting to get rich.

[@az5129]

just opened a Fidelity account, and currently negative $400 after dividends I received within the past 3 months...:v market is like a rollercoaster, just need to ride it out....:3

[@frankbatista.official]

Hey brother! Really enjoyed the video. Just like you, I've been helping a lot of people control their finances and have a better idea of the stock market. A big part of Financial Freedom is having your heart and mind free from worry about the what-ifs of life! Have an amazing weekend everyone!!!

[@voxxin3331]

Good info!

[@humphrey]

Thanks!

[@seb30029]

These are very nice tips, As a 20-year old I am currently setting aside an emergency fund savings account with a 10.3% rate. I just opened up a Fidelity Roth IRA which includes index funds and taking advantage of a 401K from my employer. Would there be anything else I am missing out on?

[@the-fantabulous-g]

Where’d you get 10.3%? That sounds incredible. I’d also say that, if you max out monthly/yearly roth ira, also consider a brokerage for a tax-efficient buy-and-hold etf. Something like VTI, VOO, SPY, VTSAX, or FZROX are all good options, I prefer VTI due to its volumes and ease of transferability

[@deeshh1250]

Hi Sebastian. Where you find an emergency fund savings account with 10.3% rate?

[@BShub-1]

I’m getting 3.5%

[@pat2not]

What about investing in your own business, even if you loose all the money, you learn so much throughout it

[@Barrym261]

Sometimes I really wonder how people make huge profit investing in the stock market, I know investing is a legitimate way to gain financial freedom but how is it done?

[@ajaykumarpandit3909]

All you need is a professional trader to avoid making losses

[@adamsnora3260]

That is true, you need an expert broker and account manager to make good profit from Bitcoin trade.

[@cormallymirabel1484]

As a beginner who don't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional

[@harryclent7703]

@Anita Jack Exactly, but i got to come across some opportunities. Whats your email so i would mail some to you.

[@jasonreviews]

ALL in SARK and SQQQ on red days sell on green days. Cuz the market is complete shit.

[@philochristos]

When I was in my 20's, I invested aggressively and did really well. But then relationships got in the way. I bought NVDA in the late 90's. I'd be a multi-gazillionaire by now if I had held on to it, but I had to sell it to pay attorney fees. I think there ought to bee more talk about relationships in financial videos. It can make a huge difference in your life plan.

[@LarryP248]

Your content is riveting. I had a life-altering experience with a book that explored the same topic. "Mastering Money Mindfulness" by Benjamin Hawk

[@b.elizabethzermeno6339]

Well that S&P 500 be considered a dividend payment asset

[@getsugatenshoFTW]

The thumbnail keeps switching between 2 designs

[@shakoiatenhawithacrossjaco9051]

Step one: discover options Step two: go bankrupt

[@ryanmelendez625]

Can I have a thousand lol

[@davidpielykh3996]

No

[@ryanmelendez625]

First

[@The_PlagueDoctor]

With your personal savings I really recommend putting it into an account to you can easily withdraw from, AND it gets you interest on your unspent money! Robinhood is 3% and my credit union has a 4%

[@humphrey]

YEP!!