Facts About Money Everyone Should Know

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[@miketracy9256]

Great info and advice Rachel. Buying a new car does work well if you pay cash, the car costs less than 10% of your income, and you drive it for 20 years or more as we have done. Our 2007 Corolla is still going strong and we make get another 10 years out of it. Most people who are not saving for the future have been taught that other taxpayers will support them when they can no longer work.

[@theythrive2521]

Well I agree with the pay cash but a new car costing less than 10% of annual income is definitely not something realistic for most Americans. I mean for just a cheap/base model brand new Kia that would mean annual income would be like $200,000. Also I agree normally with car losing so much of its value but with the more “ gently “used cars being so high I feel it’s not even worth it.

[@derekhayter4879]

Some people prefer to drive less reliable cars like Mustangs, Chargers, Bmw etc for fun. I guess unless you really need the car, don't buy it if your gross income is terrible.

[@artymunoz5060]

I like what you’ve said about putting things in your cart. I’ll do that then move it to “save for later” and end up removing it later

[@tduck828]

I do it and wait for coupons! Works sometimes!

[@fabmontreal25]

Day trading and crypto is dangerous. Wealth is built slow and steady. I know boring but your 55 old self will thank you

[@derekhayter4879]

Words of wisdom!!!

[@debrajean743]

Another wonderful video made by the great Rachel. TY for all the info Rachel. Love your channel.

[@engrmajisagar7868]

Great video, As an investor, it's important to remember that investing and trading require more than just technical analysis skills. Discipline and emotional maturity play a significant role in achieving success. It's wise to keep in mind the adage of "time in the market vs. timing the market," as this mentality can help you whether market volatility. With insights of Erin Mary and my commitment to learning and growth, I've been increasing my earnings in just a few months. Erin Mary’s consistency in the field has earned her some good reputations not only as a good manager but as an expert whose aim is to put smile on every investor and trader out there finding it difficult to earn. I have made so much profit with her and already started a six figures paying business. She is best in the business with top notch experience.

[@mullerjoshua4390]

have always wanted to know how it feels working with a pro, so i would know how to go about this year

[@mullerjoshua4390]

When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible.

[@engrmajisagar7868]

She's available on telegam

[@engrmajisagar7868]

.@.ProErinMary.

[@majid2076]

Access to good in formation is what we investors needs to progress financially and generally in life. this is a good one and I appreciate..

[@radioheadfanlove]

Rachel you are my absolute favorite!!! Thank you for your spirit, heart, education, passion, kindness, and for these vids 💖

[@elizaC3024]

Slow 🐌 and steady wins.

[@katyedwards3935]

So we should be the tortoise, not the hare.

[@martianwoodpecker]

We treat my credit card like any other bill, which is why it's paid in full every month. We save the rewards all year and redeem them to offset all the extra expenses at Christmas.

[@lindadorman2869]

Your outlook changes when you invest in things that appreciate in value, rather than depreciate. Before I spend hard-earned money, I ask myself "Is this going to make me more money, or cost me money?" I own a reselling business so every dollar I invest in building inventory has to turn into profit. Even equipment and supplies, or personal items, need to be able to resell at cost so I never lose money. The only exception are perishables (food) or services (insurance) and even those expenses are closely scrutinized to make sure I'm not overspending.

[@pamcornelius9122]

Great point!

[@FreedomFighter485]

I love these videos - That's why i invest in Credit card companies. Easy Money 1.2.3. Take your money and buy stock in Visa and Mastercard.

[@rg-mi5hh]

Good video!

[@crow-vz5lx]

Lol I have two paid for cars . One is 22 years old the other is 18 years old. They both run like tops. Has them for several years. 👍

[@markg999]

Same a 10 year old and 8 year old...car payments are the worse.

[@anya8221]

Excellent info, shared!

[@Matt-wr5kx]

Great advice. I’m in the car market and have to say the depreciation values are not what they once were. I would love a 5 year old car at 40% of original value but they are holding at 75-80% for everything I’m looking at unless they have over 100,000 miles

[@lindashepard4621]

Same. I was forced to buy a car a year ago. There were high mileage, four year old cars going for a few thousand less than a brand new car. It was insane!

[@jakeandsarahhealthnuts3299]

1 in 4 not saved for retirement is not bad if we are including people in their early 20s just starting out. If that’s people over the age of 40 then yes that is scary.

[@shelleyfreeman7749]

Your cardigan is so cute! Love the color!

[@robertkrumm2470]

Being on your phone in bed at night is probably arguably the worst thing you can do

[@JKNat9004]

Not if you're watching Ramsey Solutions. 😆😆

[@mationinfo]

Ok sweetheart, you said 15% gross or net. I am doing approx 13% net. I am a 55-year-old widower and doing. Rising two kids. I am trying to do 15% and that is pushing it.

[@EricMoore-ze2rf]

Every time I get some money my wife and daughter laugh and take it and go the mall!

[@joelmora2826]

You're a weak man...

[@deanh2574]

When I graduated from Engineering College in 1982, I had $100 in my bank account. When I retired in 2017, my wife and I saved approximately $3 million in our taxable, tax advantaged and tax deferred accounts with our middle-class jobs. We didn't receive much inheritance since we had a lot of siblings and our parents didn't save much. Yes, you can become a millionaire with the proper determination to save and invest for retirement. By the way, I was a lousy investor for much of my early career but I self-educated and did much better as I invested in mutual funds later in life. No, I didn't have any hugely successful investments, but just kept saving and investing as much as I could.

[@melanieshipley3133]

I love your videos and I know you are often speaking from general principles but what you said about used cars in this video just isn't true currently. There are so few quality used cars available and they are more expensive than new cars. We are debt free and just paid cash for a new van when we had our fourth child and we could have sold that van for $5000 more than we paid for it five minutes after we drove it off the lot. We waited a year to get the van and were looking for used vans the whole time. Just might want to add a caveat to videos when the current situation is different from the general principle.

[@stayconsistentandhumble8463]

Totally agree. I purchased a 22 toyota last year brand new. Never would have purchased new before, BUT used vehicles with 25,000-50,000 miles were selling at the same price point. You would be an idiot to buy used in that situation. I pray thing’s return to normal. Great video.

[@avenj4659]

Agreed. Very different times

[@DMoneyy97]

Challenge for yiu

[@yenibobenny]

Granite

[@katyedwards3935]

Your dad and all his staff members might one day become one of those billionaires you talked about.

[@Viviko]

How did those millionaires make their money? I can almost guarantee you it wasn’t from just stashing money away in their 401K. Lol. The math doesn’t add up. The average value of a 401K is like $90K… it’s legit a disaster waiting to happen.

[@Tonyrd3000]

I agree with you that they have more than just 401K. But what they say is that 401K with match is a good place to start. Most people don't even know that much about investing.

[@landondean4701]

It's really not that hard to have $1 million in a 401k. It takes 10 to 30 years tops depending on your savings rate...

[@beetdiggingcougar]

Only 2% say they came from an upper income family because everyone thinks they are average. What millionaires believe and what they actually are will be two different things. Btw, Rachel was born on 2nd base and is trying to tell everyone still in the dugout that they just need to believe!!

[@joelmora2826]

I'm a 1st gen American, high school dropout , I think I'll be a millionaire before I retire.

[@artymunoz5060]

I’m loving your optimism

[@beetdiggingcougar]

@@joelmora2826 Thinking and doing are two very different things. And that's from someone (with a master's degree) who is about halfway to your goal.

[@joelmora2826]

@@beetdiggingcougar And you were probably on 1st base ...😉 but that's why it's called the baby steps. 1 step at a time.

[@beetdiggingcougar]

@@joelmora2826 Yes, born into government housing and living on food stamps/free lunches at school. Doesn't sound like first base but please keep thinking that.

[@trebmaster]

Y'all need to spellcheck before posting videos! 3:53

[@katyedwards3935]

Everything is spelled correctly, the problem is the translator's grammar.

[@user-yy9ym1rz3u]

Your dad’s puppet. Good job to stay in hos inheritance