A Finance Masterclass for Smart People Who Aren’t Interested in Money & Finance 💡 (ch 10)

[@xiaolingliu5665]

Chasing money never made sense, desiring less did. Thanks Damon

That's exactly what I did after watching this video!!! OMG... I went to my taobao account and canceled (wait let me count) 14 orders... i don't need all of that!

[@xiaolingliu5665]

@ lol bravo!!

[@slidenapps]

Believe Damon. he has a medical degree he has a biology degree and he has an economic business degree. Oh and he also has a psychology degree.

[@thinkwhatsyourlife5908]

@@slidenapps do u know where he studied and like how did he do it it seems expensive and like takes a long time?

[@kxenia7852]

@@slidenapps business and psychology yes , the other ones im not sure

[@earnestison1234]

I’m 55 years old, retired, and have an MBA from a top business school, and I can tell you that this video gives you all the information you need .

[@slidenapps]

Sad nobody knows that already and they listen to the crazy talking points from the political left but although I believe it's good that he says something it's a bit rambling and hard to follow and I also have an MBA Joe did this one time and hers made much more sense because she was more organized in her presentation

[@samuelbrown8934]

@@slidenapps for someone with adhd like me this is the perfect intro to personal finance because it keeps me interested and not bored

[@TheNinjapancake14]

This is an awesome confirmation!

[@kachionyekuru1914]

the yassification of personal finance was exactly what I needed on this Monday afternoon

[@drebugsita]

Couldn't have said it better!

[@yamum]

a year later I’m watching this on a Monday afternoon too!

[@damondominique]

Money is hypothetical until spent.

[@SiddharthS96]

The French word for mortgage is hypothèque

[@8AlisaInez]

💚

[@diamondcentury21]

@@SiddharthS96 same in polish 😅

[@laurawalsh3121]

YES!! My parents always said never to invest and always keep it "safe" in the bank but like??? In 2008 nobody could get their money out anyways so??? Hardly safe???

[@tenoki]

@@laurawalsh3121 Keeping your money safe now a days means keeping it liquid. The easier it is to use and move around, the better chance that you have to survive an economic down turn and come out better than most on the other end.

[@Emmere]

I love that more millennials are having these discussions around money. The previous generations really tried to set us up for failure with their houses crisis, economic recessions, lack of livable wages, housing, and healthcare. BUT millennials we will continue to thrive. Love that creators are learning, growing and sharing their perspectives on money, side jobs and career.

[@letsparchmentitupyo7566]

yes!! + to add, i can see our generation moving towards employment & wage transparency. at work a while ago i once asked why someone the same age and experience as me was on a higher pay rate (a convo between me and him and we're both young), the immediate response was 'well youre not supposed to be talking about that'- it fosters an unhealthy environment and only encourages pay inequality. excited for the future of us not giving a fuck ! props to damon for educating us, so thankful

[@UnJadedJade]

spilling the TEA on monEY !!!! where was this vid 5 years ago :’))) you did this so so well

[@cheninblanc]

Jade and Damon😍I'm rooting for a friendship

[@elenac2178]

DAMON PLEASE DO A VID ON YOUR TAKE ON MINERVA UNIVERSITY -M26 ☺️

[@MA-zg2pz]

“Why don’t we just simplify the law so everyone can understand” the laws are not always black and white since nuance is how people/corporations win cases and set the standard for cases after that. This both can work for us and against us. But I get what you’re saying. The poor don’t have access to lawyers usually and therefore are extremely vulnerable.

[@aileenmarie5341]

"Sometimes things you wanna do... don't make sense money wise" and that has been my motto so far 😂😂

[@rheamahajan]

You’re doing god’s work Damon - this video is EVERYTHING. Though I am a licensed CPA, I am in full agreement that the constant flux of rules and the associated jargon is such an unnecessary (yet very intentional) barrier. Love you ♥️♥️♥️♥️

[@amethystcarter773]

I watch because you’re like a bestie who always keeps it real. I’m 30 and out here trying to get good at everything too. Cheers to the wisdom that comes with the years

[@lagritsalammas]

Very much in that same place. Turned thirty at the end of last year and suddenly everything's sorta coming together. Idk what cosmic forces hover over this particular age, but suddenly mental health, physical health, self worth, money, needs, desires - everything's just coming together in a nice clear pod, everything's making sense. So indeed cheers to the wisdom that comes with the years.

[@Jamila91100]

Cheers to 30 !! I am in love with this new knowledge and wisdom that I now have you couldn't pay me to go back to my 30s

[@Akki-kz9jv]

As someone who is turning 30 very soon and absolutely dreads it, all your comments are so reassuring. Thank you from the bottom of my heart!

[@lagritsalammas]

​@@Akki-kz9jvthere is nothing to be dreaded! The only thing that changes is the number! You, on the other hand, will keep on being that same person, just with 30 years of experience, which is definitely more than 22 or 27 or whatever. The 20s were great and fun and we got to figure out a lot of shit, but now in the 30s is the time we learn to fully love who we are, make time for ourselves, our interests, say "fck you" to the standards that don't suit us, and come to the utter point of comfort with ourselves. I don't think I've ever loved myself as much as I do now, and instead of confusion about life and where I'm headed, I'm finally feeling relaxed and with a clear mind, and a solid focus towards the future. It's gonna be a great time ahead!

[@alexispaige2760]

If I could like this a million times I would. 🙌looking forward to any further courses you may have on the Intricacies of a global citizen lifestyle or financial bestie advice because you drop gems I would pay for. Not to mention I also feel aligned in your mindset and delivery. Chefs kiss. 😗 On another note- I would love if you had a discord server or a Facebook chat because the community you are building around globally minded introspective people is exactly something I’ve been looking for and I’m here for it love.💜🥳

[@damondominique]

this community idea is really interesting. hmmmmmm

[@benjiboy1245]

@@damondominique it would be super dope, I see lots of people commenting on your red wine talks saying "mannnn, I wish i knew like minded people like this" and an online community could be just that for many of us.

[@Theeeory]

@@damondominique I could help by setting up a discord server anyone who’d want to help could and it would be self sufficient.

[@xo-maria]

@@Theeeory Commenting in case the discord is ever created (:

[@baileyhall7434]

Would love a community to get to know your other followers! You’re the only KZbinr I consistently watch! Here for all the best content always ❤️

[@cait.]

1:01:10 credit card companies charge stores transaction fees when a customer uses their credit card. So even if you pay it off every month, you’re still making the credit card company money! That’s how you earn cash back and points. It also raises the prices of goods & services which negatively impact people who mostly only pay in cash because they’re not reaping the benefits of cash back/points. It’s all a game 😫

[@Fortheloveoforthodoxing]

Great points!

[@justanothervagabond]

Damon! You asked at the end why we follow you and I was thinking right before that (coincidentally) about how important channels like yours are to my sanity. Yes, your channel is entertaining and your personality keeps us coming back for more. Of course. Your channel is great in general. But in my opinion, it's so important that I watch videos of people traveling and following their dreams abroad in order to stay motivated, inspired, and frankly to feel less alone. I've done a lot of traveling in my life and agree with the sentiment that you can just be happy somewhere in the world on a $10 bus. Not everyone feels this way and it can be really hard to connect with people who share this mentality, especially depending on where you live. Any time I return to the States, I realize that I've gone from being surrounded by people who understand me to being surrounded by people who have given up trying to see things from my perspective at all (or who never bothered to even try in the first place). Watching videos like yours helps me remember that I'm not alone and that there are people out there with similar values. So, thank you for sharing your experiences with us. You're able to provide a bigger sense of community, which I would consider invaluable. Very grateful for your channel! P.S. After the past two years of staying home, I'm excited to be taking a month-long trip to Brussels and to start feeling like myself again. I feel out of place without travel, so again, thank you for helping to fill that void recently!

[@zoemcleod5998]

Yes so much to this!

[@raiha1425]

Yes yes me too! I have traveled the world but live in the midwest and it is SO weird coming back home because people here simply cannot relate to that nomadic mindset. I find that I can only truly connect with fellow travelers/ open-minded people but they can be hard to find around here..

[@justanothervagabond]

@@raiha1425 I relate ENTIRELY. I also am from the midwest. hahaha They don't make it easy for us to find like-minded individuals here 😆

[@raiha1425]

@@justanothervagabond right! We need a way to connect with all the travelers

[@leahsfieldnotes]

THANK YOU FOR THIS

[@TheNinjapancake14]

Do you have a video on similar topics?

[@JemimasOutcome]

I'm transitioning into self-employed, and there's so much to do, I never realised how overwhelming it could be. I literally am always thinking about my business, and how much I don't know. 😭 Getting my personal and business finances in order is scary but I am determined to understand; thank you for sharing your experience ✨

[@tenoki]

I follow your channel because you live the life that I am working towards. I am not trying to be rich, but I am trying to be comfortable so that I and my family can do those things that we would like to do with minimal encumberment. I truly feel that the goal in life is to work enough to live, not live enough to work. Once you reach your definition of success, it make no more sense to chase money and keep making other people richer. Invest in yourself and your future.

[@g.mariethatsall]

The finance class everyone needs, can understand and doesn't put you to sleep at that. Mad props.

[@kulaulpa]

So much great ~not financial advice~ in this! Since your audience is mostly young people, I would just add that everyone should really do their research on both sides of the issue before investing in something unregulated like crypto. I totally agree about the potential of the underlying technology, but unfortunately the current landscape is much closer to investing in an MLM. A good rule of thumb: don't invest in crypto (or anything!) just because your favorite KZbinr, actor, or tech billionaire says it's a good idea. Stipulated, everyone can and should do whatever they want with their money, but be smart and keep your head on a swivel.

[@tenoki]

Straight FAQs!

[@cheninblanc]

2:40 "You cannot go the bank right this second and withdraw all your money if you wanted to" Me having 500 euros in my bank account: I'm 10 steps ahead of you😎🥴

[@roxanna1043]

this is embarrassing but I literally just got emotional after watching this bc I feel so grateful having someone like damon as a mentor and role model :’) like I’ve never been able to relate to someone’s philosophy on life more!! Merci beaucoup!!

[@marie.f]

this!! he’s one of the very few creators that I’ve kept up with consistently for so long. I always learn new things and am reminded of the wonders of life in every video. such a ray of light honestly!

[@sandraarriaga832]

Not the only one 🥹

[@andreathegreat7765]

TRAVEL IS THE ONLY THING YOU BUY THAT MAKES YOU RICHER! Very best wishes!

[@thepurplepalace85]

ok I haven't sat down to start watching yet because I know I need my journal to take NOTES but thank you in advance for making this boo!!!!!

[@damondominique]

And you got my number if you've got any questions!

[@arayasimms1607]

ya’ll I’m 17 (high school obviously) and I did economics and accounting so we did learn abt taxes and how the government is involved in it but now I know the nitty gritties of it cus Damon really puts it into perspective in how it affects us normal people. The government seems shadier in retrospect, we were really out here not questioning the system 💀

[@cesarsanchezgutierrez3064]

The education system is funded by the very same people, look into that as well lol. It really is us versus the system

[@VathayYaing]

I too, do not like to operate my life on a scarcity mindset and at the same time want to play this simulation rather than wasting time getting cynical about it. This video was both structured and all over the place and I love it. I feel like this is how my brain operates.

[@sockpant]

i literally start my first job next month, so this is soo helpful! i love the ethical options. i rly wanted to just disregard finance since its soo cringy and convoluted, but i cant avoid something that will affect me forever. also i am going to europe for the first time (just france) this upcoming week. u inspire me so much!!! thank u damon

[@kianahadjibagher8301]

It’s not so much “gambling” if you invest in portfolios that have been diversified enough to lower the risk. Because when you combine high and low risk assets, in different market situations they balance each other out (Ex. S&P 500)

[@Angie_suv]

The problem is that the riskier the asset the higher the potential gain and the lower the risk the less you’ll gain. Still gambling imo

[@cornellcornell1]

When finance people discuss “time in the market” and compounding interest the time horizon is greater than 10 years. It’s about ensuring you have enough money by retirement you need to look at it around 30 years. That’s when the compounding truly takes off and the amount of money you earn is significant. If you’re just looking at for the short term then yes it is not substantial The most valuable tool a young person has is time. Start investing now so that your retirement is secure.

[@JaJaHerSelF]

I read " a finance masterclass" and was like nope not in the mood for that, two days later I read the full title and here I am halfway into the video and enjoying every bit of it ps: happy 420k subribers B-)

[@shellykorol3710]

This is just amazing Damon that you are still even more than 24 hours since the video was uploaded answer and like questions ♥️ that's much more beyond self employment!

[@akankshasurya7199]

The fact that I wouldn't get to learn all this as an Indian middle class girl, if not for youtube. Great videos. Thank You

[@Danonechik94]

They should show this video in schools and colleges. The best explanation I've seen.

[@1tecito]

I was able to translate almost all of it to the Mexican tax system, thank you so much

[@luciex5066]

I don't really agree with your views on taxes, especially because here in germany the taxes are used for building schools, streets, free health care etc. I also think that the cap on money people inherit is super important in order to minimize the gap between rich and poor. Nevertheless, the rich get richer anyways because they just move their money to countries where they dont have to pay taxes 🥵 Great video!

[@bonne_vie]

If that was how it is in the US we'd be all for it. They say it is for roads and schools but somehow we have crappy roads and schools and rich corrupt politicians and EXPENSIVE health care 😢

[@lilacdoodz]

Damonnnnnn. I still can't believe your videos are free, thank you for sharing the things you've learned. I appreciate it so much!

[@sinscape6023]

I have learnt more from this video about money than from my entire stint at the Big Fours and my university education.

[@abdulqadirqadri4774]

What you missed in this video is that majority of what you're talking about is only specific to americans finance/tax regulations and wouldn't work at all anywhere else.

[@adrianfp]

Fair point, however, though I am Canadian, I find that I’m able to contextualize most of the American-specific advice and information Damon offers. Yes, Canada and America are quite similar culturally, but not necessarily in the ways our governments operate. But let’s be real, he has firsthand experience with the American system and has an assumedly majority American following-it just seems natural that it’s his frame of reference in this video.

[@yuzan3607]

Yea exactly. I'm always completely clueless when it comes to my country's laws. I just put my money in the bank for now.

[@eveeehr]

The tax stuff is fairly similar in Australia too

[@ipsilonia]

this video brought a tear to my eye. truly. i'm on this same financial wellness wave and i feel so grateful for all the things you broke down in this vid. from making videos about traveling on limited coin to THIS VID. *chef's kiss* thank youuuuu

[@brian123rules]

bravo (from a finance major who cannot stand finance), this video virtual gold. I also cannot wait for your French workshops to launch !

[@dreamygirlofheaven]

Damon idk how you do this but it always seem like a casual chitchat but ends with me pondering my life choices so hard. You have literally changed my life yesterday with one sentence and now I’m here like oh wait I can’t even watch this all at once.

[@vivekmenon795]

1:05:02 'In a way you see yourself in me" We love a self-aware KING

[@twyntia]

Ugh this video was genuinely soooooo helpful, but that “I’m getting good at everything” is what really did it for me

[@hafsa5068]

This approach was much needed thank you!! (I don't know if it was you admitting that none of it makes sense or the laughing that made me feel so comfortable.. probably just hearing it from you) Also cleaned out my entire closet and dresser while still taking the majority of this in, I am perplexed.

[@meg7221]

When I needed you the most, you delivered. I have been legit stressing myself out in my early 20s tryna figure this shit out 😭 whilst also switching careers for.... the 3rd time

[@ceciliecerise]

Off topic but thanks Damon for recommending the book “A New Earth” it has really been beneficial to my life!!!!

[@damondominique]

Honestly...it was the first self-help kind of book that just spoke my language. Happy you liked it!

[@kirstenwongie]

Watching in 2024 as partially self employed. Incredibly grateful to you. I’m ready to make the jump to get a CPA and start my S Corp 🎉

[@cravensomething5235]

Man, I'm working as an Au Pair and so many people rolled their eyes at because I only get paid 100 euros a week. Yeah, and the family paid for my phone, navigo, french classes, meals, and I get to live in a swanky apartment in PARIS. When you look at your options, there are actually more ways than you'd think to make it work.

[@jcmea13]

How did you become an au pair? I’m from America and I want to do something similar in paris

[@cravensomething5235]

@@jcmea13 I used AuPair Paris which is a really cute company but lots of people use au pair world

[@emilychristensen4235]

This is what we need, cheers to all of us getting good at everything this year

[@maxinecampbell4702]

I watched this video about 9 months ago, and decided to start a brokerage account with $1,000. I just let the AI pick what to invest in, and since then, I've made $50 by doing absolutely nothing :) thank you for making this simple and understandable!

[@cornellcornell1]

If you’re above the income Roth limit you can do a back door conversion from a traditional to a Roth. It’s very simple to do.

[@damondominique]

See but then why wouldn't they just up the income limit so there's not this extra step? lol

[@bipolar7853]

The whole "Where does my money" go really depends on the country you are in. In France most taxes are used to serve things like free universities, universal healthcare, all social welfare... It's basically a good way of doing income redistribution. If you check the INSEE website you realize that the system is made so that 40% of the richest pays more to the government than what they get from it, and for the 60% poorest it's the opposite. I'm really happy to pay my taxes in France. I guess if I was living in the US where the social spending represents a very low part of the GDP (France has the highest part in the world) and I was paying as much I wouldn't be very happy with it. Marginal taxes combined with a lot of social benefits for the poorest part of the population is actually a great way to reduce income inequality in a country and increase the equalities of chances.

[@damondominique]

I actually took this segment out, but I would be happier to pay taxes in France if things were more efficient here. Instead, my entire experience (as we have seen) has been overly complicated. I do feel like bigger taxes, means bigger government to manage the services (which is great, don't get me wrong), but that also means bigger administration and as we know, French administration has never been streamlined (at least in my experience). For example, it enrages me that I still do not have my Carte Vitale (health care card) because they keep losing the documents and act like I didn't bring them, and then follow it up by never taking responsibility by saying "c'était pas ma faute" (it's not my fault). Like - it’s *literally* your fault 🤣. Then when I go to the doctor or pharmacy here, they ask "Why don't you have a Carte Vitale???? This is going to be expensive!!!" Blah, blah, blah. It’s all actually very annoying. This being said, the US tax system isn't the best either.

[@bipolar7853]

@@damondominique I totally agree with you on the efficiency of the French administration... As I said France is number one in the world in public spending and part of social expenses in public spending, but when you compare some social statistics with other countries, France is not badly placed but is not number one... I think that can show there's a problem and room for improvements.... But I'm not sure you can count this efficiency issue as part of the "tax system", I think it's more a management issue and maybe a cultural thing. It's so crazy that you still don't have your Carte Vitale though 🤦‍♂️ France 😅

[@netoceribelli]

Although I already knew most of it you made that one hour video go by so quickly and smoothly - I love your humor and honesty. Keep smashing it Damon D!

[@TianaCoats]

I’ve been self employed for a few years and I have learned so much about finances. Usually I try to net under 20k so I won’t pay a bunch in taxes. Last year, I bought a house and even if your biz makes 100k banks go off net income. So if you’re self employed and plan to buy a house don’t write everything off on your taxes that year! Luckily, I learned this before I did my taxes so I was able to show enough income to qualify.

[@AY-ln1mk]

So good you’ve figured this out. I know lots of people who say they’re too confused to learn to navigate that, and I can’t feel sorry for them for not being able to make ends meet. This is like health and fitness, you owe it to yourself and your family to figure this out once and for all

[@laetitiabecker6920]

"Im getting good at everything in life." cheers to that :)

[@marie.f]

I would fr sit down and learn anything you teach. As someone who’s about to go to university and who’s going to have to start adulting more and more, this was insanely helpful and made me not as scared money wise. Thank you endlessly Damon! Your content throughout the years have helped me learn and enjoy life much more.

[@angelesg.4689]

Just graduated with a Masters in Accounting last month so I've heard of all these concepts but have never been told how to actually apply them to real life. This was soooo helpful and you just summarized the past 5 years of my education. Thank you. Gracias. Merci xx

[@lalyelangel]

Fun fact about Canada --- all the terms are simplified and easy to understand! Instead of a Roth IRA we have a TFSA - tax free savings account We have an RRSP - registered retirement savings plan Etc etc etc

[@sage1021]

Back to this video 2 years later and happy that I understand more of it now!! Woo progress! Thanks damon ❤

[@workofivory]

Damn this was an amazing video. And this is why I follow you Damon! No BS and I just love your creative mindset. You’re also unique- you don’t follow the trends or what’s popular. I also live vicariously thru your travels haha. My philosophy on money is that it comes and goes, so like you, I get we need it but I try not to be obsessed with it; it won’t follow us to the grave. You really have to figure out what you value in life, and for me that would be experiences. I’ve watched several financial vids and as an American, you’ve just taught me that the tax code is so arbitrary 🤦🏻‍♀️ as in everything in the US it seems… best to learn and stay ahead of what may come. Anyway, I’m not a huge risk taker and I’m lazy, so this is what I’d do: 1. Save for emergency fund 2. Invest in mutual fund or ETF 3. Retirement- get a Roth IRA 4. Get real estate- own some properties (own homes, stop paying rent) 5. Check out crypto currency 6. If you have small-moderate student loans, there is talk about Biden waiving 10k. Don’t know if that will happen but since loans are in deferment period, I’d not invest in paying back right away. If you have a huge sum to pay back, talk w the loan company about repayment plan and I believe they can make “affordable” monthly payments with you. But again, I’d do other things listed first than pay this back right away. If anyone has advice about crypto, lmk?! That’s a whole new world to me.

[@jadegina3735]

i keep coming back to this video bc of how much I think about it. truly so profound

[@johnmones1450]

I am definitely a devotee of yours and your channel. This vlog was a combination of high finance and speed dating. That’s why I saved it for future reference. Your distillation of tax codes, investments, retirement accounts with a dash of philosophy is invigorating. One of the best lectures I’ve heard in or out of school. Thank you. 👍🙏👏. BTW sipping on champagne 🍾🥂 was a nice touch🤪

[@ayaelzakzouk2943]

if I had videos like these for my finance, micro, political science finals I would've killed honestly, you're so real for the "why not simplify and make it accessible?"

[@naesworld]

YESSS!! seriously, thank you! 😭

[@brennapeterson6489]

Damonnnnnn, I mean come on you are serving us the info on a silver platter. Your content is always so informative, well produced, and suprising. Thank you so much for this video. Damon for the people!!

[@achillendimond2124]

I spent a while pondering why (besides the gov being owned by corporations) a government would give a shit about consumer boycotts.....then I remembered that between state and federal our sales tax in Utah is nearly 8%. It all made sense after that. They don't care what you are buying as long as you are buying. There's only so much they can tax income, but sales tax is something we opt in to, we only pay as much as we purchase. A boycott, or movement like minimalism, which encourages people to not buy threatens what the government sees as a "stream of income"

[@RaheemD]

I'm amazed at not only how much I have learnt (and understood) in this video, but I'm also appalled at how this isn't mandatory teaching in all high schools. Financial education could save so many lives and decrease homelessness by tenfold. I know too many people that received great amounts of inheritance or found themselves with money and completely wasted it due to not understanding nor caring about investments. I'm 28 and I've known for years that working for someone doesn't work (especially now) but I've never fully understood the other avenues besides real estate, KZbin and OnlyFans lol. I'm going to have to look into shares (and set up Barclays rewards on my card). Great video! This will be so essential during present times for many 🙌🏾

[@mnaoitb1]

the timing of thiis video is COSMIC!!!!! THANK YOU SO MUCH DD

[@aeolist-jess]

I’m a long time subscriber and I’ve always loved your videos because I think you’re hilarious and your lifestyle and way of thinking is super inspirational but holy crap I appreciate this video so much!! I was very much born into (relative, California) poverty wherein there is no generational wealth that I know I can depend on (I.e., I’ve never lived in a house and both of my parental figures are honestly not the best with money). I’ve never had someone in my life who knew enough about money to help me get ahead either so it’s been really hard for me as I’m trying to become financially stable in hopes of eventually creating generational wealth for my future kids and grandkids etc.. that being said, I’ve tried watching the finance bros on KZbin talk about all the stuff you were talking about in this video and it straight up goes right over my head. They never simplify the concepts and always use that finance jargon that really only makes sense to people who have some sort of grasp on the topic already. This video was super helpful while still being engaging and entertaining, and I learned so much from it! Thank you so so so much and I hope to see more content like this going forward, not just from you but from other creators as well.

[@1rockqua]

this is how my brain works, I am so happy to hear it repeated back to me by someone smart!

[@iza1405able]

My favorite financial class ever, thank you !

[@drebugsita]

Thank you, thank you, thank you! I was not raised with any info on finances and lord am I paying the price. Yes, there are others on YT who cover finances but this is the first relatable, informative, and even interesting video I've found on it. I am overdue for starting my own LLC, have never invested, etc and have now opened a window to look into Charles Schwab. Adding getting a CPA next...

[@tina9953]

I saved a 1000 Euros every month during the first lockdown, started spring 2020. Everyone was hyped, the stock market was flourishing, suddenly everyone was an expert (including me, smh). I didn't know anything about investing in the beginning, tried to understand and got a little bit addicted. In the beginning I made some good gains, doubled my money in a few weeks. Now 2 years later, I lost almost everything, from 12000 to 1500. Young people out there be careful, don't risk your hard earned money on individual stocks. If you do, pls use stop losses, don't be attached to your stocks. I will give it another try but will be more conservative with my investments this time.

[@damakhif]

When you said "I think you guys dont get that" I was indeed confused but then you reexplained and I got it, thank you.

[@alice688886]

Damon, I could watch anything you speak about. This is the most creative and thoughtful finance video and YES to being enriched as well as rich... to a well lived life.

[@chaneygolden3278]

never thought i’d watch an hour long finance video, but i clicked the moment i saw damon was my teacher. BTW: amazing advice here

[@annastayziaa]

thank you for making this ❤️ it's so relieving to hear this from a fellow digital nomad whose tax residency is in California 😭😭😭😭😭😭 the pain with state taxes is 😵‍💫😵‍💫😵‍💫😵‍💫

[@inesszulc2329]

Such a pleasure to watch a 1 hour video from you, did not even feel the time go by, love to hear you talk about anything

[@msalgadomusic]

YES to the sponsor! I could not have watched this at a better time! I was just talking to my husband about wanting to travel the world and learn another language - French to be exact! It makes me much more comfortable knowing YOU are teaching it!

[@jamilabrown617]

Hey, Damon. Thanks for the video and yes desiring less made me so much happier in my life. I moved to a new state and still living in my car, but I'm happier now than I was before. I was working overtime constantly, around toxic people, and living in Buffalo, which I never liked. I'm happy now I'm in control of my life and can focus on my career.

[@sirenasaenz2299]

Yes I been feeling this so deeply about my country taxing me and using MY funds to support things I don’t support!!! Like WTF

[@sarahwotaszak563]

Omg SPANISH COURSES!!! I’ve been waiting!!!🤩🥰

[@sandsmarroquin]

This video is PURE GOLD. 🤯😶❤👌 Thank you so so much!!!!!!!!

[@love2lafalot]

the most general yet perfectly american-specific money lesson I've ever came across !!!!!!!!

[@hiimchuckiewannaplay]

I have never sat down and watched an hour long video from a yt'r i've never watched before...and then subscribed. until now.

[@Neeintje]

as a kid who had their whole 12 years of schooling in the American public system, which is FUNDED by taxes; I never once learned how taxes work, how to balance a checkbook, create a budget, or anything. Makes zero sense how financial literacy is gatekept, and now u see why the rich get richer and the poor get poorer 💩 but trying teaching myself through books and youtube 🤝 so thanks daeaayayaymon

[@FYPNLP]

They won't teach you financial literacy in school. They need you to worker living from pay check to pay check feeding the system with you consumer spending and your taxes. They won't teach you important thing like investing, negotiation skills or other REAL essential life skills.

[@aishawaterman492]

I want Damon to teach courses on EVERYTHING ugh he always makes the impossible make sense

[@juliehsunflower]

This is unreal timing.... I was double checking my checking account balance this morning to see if I could order a kiddy pool for my hot bernese mountain puppy and was mortified to see a whopping -$11... Immediately I panicked because of overdraft fees and it hurting my credit score (if thats how that works!?!?) and have been freaking out all morning. Luckily I have money in my savings account that I could transfer over via the app so that there was no negative numbers anymore. The American education system, especially high school (I am a senior this year), is so backwards. We do not get taught anything about personal finance that we actually need to know for day to day life. Especially those of us who do not have parents who have helped us learn. Thank you for making this content, it means the world to us kids who don't/didn't have parents to help and guide us. Much love 😘

[@damondominique]

It's just knowledge I feel EVERYONE should know!

[@nancyyyxoxo]

I guess one reason why it’s not taught as often (as a class) is the lack of real life applications and practice for minors in school, and that it’s hard to communicate the importance of financial literacy to teens until they become adults

[@foteinilamprouli331]

@@nancyyyxoxo We are taught the theory of relativity and mathematical integrals, i think we could handle taxes😂

[@nancyyyxoxo]

Oof not everyone learns those things either, but just because something is taught doesn’t mean it’ll stick. I had a really nice teacher who talked about mortgages, retirement funds, and budgeting but most people zoned out 😭. So it seems like only a small number of people are actually willing to learn about it in school. It’s one of those easier said than done things I feel disclaimer: I'm not sure if you're American or not, this was just my school experience in the US

[@teresam5024]

Never thought I would sit through 1-hour video on Finance but here I am - how do u make everything interesting Damonnnn

[@elenac2178]

You bring me so much joy.

[@blaba8812]

AN HOUR LONG AND ALL OF THIS FOR FREE, DAMN DAMON thank you for all the good content thank you!!!!!

[@MariNate1016]

I’m so happy you doing well after that bullshit with Jo. We stand with you brotha

[@imanfarooqi5464]

my first time watching you - i LOVE your energy. the positivity is radiating. found this video very useful as well, you explained this shit well 💙

[@TheAj253]

You know it's a good day when Damon puts out a new video and it's also making life skills digestible for all us confused souls

[@libellulareading8859]

Hey Damon, this video was incredible. Thank you for taking the time to talk through all of these things slowly and surely. If you have the time and resources, I'm sure others as well as myself would love to see more videos related to finances and budgeting.

[@rosannasainez4289]

Im only 9 minutes in and this video cannot be more helpful in a time like this

[@theultimatedocumentary8333]

What do you think about the climate impact of crypto currency though. I like the concept but I just found out ONE bitcoin transaction produces as much CO2 as me flying from Amsterdam to Istanbul and back?? Like thats just an instant no for me

[@jezunderwood1466]

UGHHHH DAMON I'M SICK OF YOU!! HOW DID YOU KNOW THIS WAS JUST THE KINDA CONTENT I WANTED FROM YOU!?!? THANKS BESTIE

[@karenjakobsen668]

Gold star content. You are so right that governments around the world have not 'caught up' to the self-employed, digital nomad lifestyle. The current rules just... don't always apply. If you actually find a CPA who DOES understand and gives some solid advice, please list. Another resource you may find helpful: Nomad Capitalist/Andrew Henderson. Thanks for your great work! Wish you the absolute best.

[@themeltedchocolate]

Damon going to art galleries with rich people, what is your life, an episode of Gossip Girl?

[@kierstenh9225]

Hi Damon-I am great fan of yours-I am an American expat-I have been living in France for a total of over ?15 years now-mostly in Paris-now I am a writer off the beaten touristy path for 3 years- I arrived at 15 to model in Paris-I bought a house in what they call 'deep France' three years ago-which goes back to the knights-next to a castle going back to Joan of Arc-in a beautiful ancient village-I can not live in it presently, but it is zoned for business-I was thinking an art gallery- cabaret- restaurant- bar- hotel on bottom floors and Tea garden in the gardens and keeping the upper floors for private living quarters and apparently casinos are legal in France-the village floods with tourists every Summer, because there is a live band and street dancing in the town square and is Sleepy Hollow empty in Fall and Winter with the sounds of only the sheep and white owls at night--I have to decide to sell it, or get a business partner that wants to run it and -or just protect it and live there no charge-needs a ton of work and the French there would not work-at least not for me-I want an American there, after what I went through there, on principle-to send a message that I do not back down to hate crimes-in your last video you said 'what is up with France?!' or something similar-BRILLIANT!!-well uh YEAH!!! WHAT IS UP WITH FRANCE FOR ME AT LEAST WAS EXTREME HATE AND XENOPHOBIA in that village-Americans reading this RETHINK moving to France and see 'The Hundred Foot Journey'- at least before moving to a village! My car was vandalized nightly and graffiti awaited me with misogynistic B words every morning and even the Marie was xenophobic and a part of the hate crimes! THINK VICHY! Think Rosemary's Baby conspiracy. I dealt with EXTREME misogyny, extreme xenophobia and hate crimes that out do that film 'The Hundred Foot Journey'- I think it is called-uh ? a new nazi regime of hate and xenophobia and a go get the American and lynch her mentality-Anyways now I will ONLY have an American there-if you know of ?ANYONE? contact me!