People Can’t Become Part of the 1% Unless They Do These Things | Humphrey Yang

[@2024Red-j5t]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[@Countstep0099]

Things are a bit strange right now. Inflation is making the dollar weaker for buying things like basic needs, but it's getting stronger against other stuff. So, stuff like stocks, houses and precious metals aren't doing so great because folks are putting their money into banks for safety but I'm worried about my retirement savings losing value fast.

[@wealthychronicle-i1u]

If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.

[@Petroguest-i4g]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@wealthychronicle-i1u]

I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.

[@LeepinLeopard]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@cool-dev]

Times have changed. Especially in tech it's extremely hard to get a job at a tech company. Keep on changing jobs eventually you will learn the lessons the hard way. Quit the rat race early, live within your means, save and be happy with what you have, not chase after fluff

[@Mav0585]

Yea that game doesn’t work in this economy

[@Ramonimalik]

Do what’s best for you. Companies aren’t loyal to nobody. You don’t owe them nothing either. Leave if it’s best for your and your family

[@TheThugNasty]

⁠@@Mav0585what doesn’t work? Living below your means? Not chasing the “fluff”?

[@DrichMade]

You consume more than you can chew. ​@@Mav0585

[@eliot5220]

Job hopping doesn’t work in every industry. I know some people trying that and then the third job they get laid off. Then they get a job that pays half now you’re starting over again because no one wants to hire you because you’ve had too many short term jobs.

[@YouT860]

Yup the generalization is ridiculous

[@caveman9897]

Two years is the term referenced here. Doubt many if any industries consider two years short term

[@eliot5220]

@@caveman9897 That is short. You must be under 30.

[@joshuabatres182]

@@jasonb4770FAANG and software startups aren’t the only tech jobs. Every Fortune 1000 has tech jobs, if the SaaS industry is slow, one can easily find a tech job at a “non tech firm”. Also folks in consulting or banking, lawyers or accountants job hop too (earlier in their career) it’s not just in the “tech industry”

[@xpaperxcutx4588]

Vivian Tu has also said that if you’re like not getting 15% increases you better leave your job after 2 years. Two is the standard in most business -related industries. It’s not too short of a time but long enough for you to get hired for your next one.

[@tonysilke]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.

[@Nernst96]

You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@PatrickLloyd-]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

[@PhilipDunk]

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

[@PatrickLloyd-]

Tracy Annette Webb is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@PhilipDunk]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@mmmd3429]

Quitting your job every two years does not make sense for every single industry.

[@Porcelynnn]

Correct! It just depends. For those who can, it’s quite lucrative in terms of how much people can jump in salary.

[@hersheyofdoo]

I watched my wife do this went from 45k to now 106k plus and she gets a new job every year. We been married for the last 3 years. Known her for 5.

[@mmmd3429]

@@hersheyofdoo That's good for her how it worked out. In my industry it would be dumb to job hop. Union negotiated wages for the win.

[@y2han]

😂

[@basamnath2883]

People who worked for decades in companies like Sherwin Williams, are multi millionares

[@viviancarolgioao]

I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?

[@SeanTalkoff]

Adding JEPI and JEPQ are smart additions in my opinion. As for staying committed to higher-risk investments, it's all about balancing your risk tolerance with your long-term goals.

[@PASCALDAB]

The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 30% capital growth minus dividends.

[@DonaldStokes-p]

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

[@PASCALDAB]

'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment

[@DonaldStokes-p]

Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.

[@eliot5220]

The biggest barrier to wealth building is living in a high cost area. I have friends living in CA and they’re broke because they paid a million in rent . I live in the Midwest and have close to a million in assets because I don’t pay rent. So you can’t start building wealth if all your resources goes to surviving.

[@stockdetective4396]

In other words, Dont be a slave of the one percenters

[@eliot5220]

@@stockdetective4396 just don’t live in a place where houses are a million$ if you’re not a millionaire. Because you end up struggling to stay in the neighborhood.

[@michaelhuber1107]

💯 I've never understood why people don't get this lol

[@eliot5220]

@@michaelhuber1107 Right that’s why CA has the most homeless people because they blew all their money on high cost of living. The rest of them are broken people of drug addicted.

[@haute03]

Key lesson in living below your means when you have a healthy salary.

[@AV-qf9qn]

"I don't regret buying my own property. It's essential for the new generation to realize that the wealthiest individuals often come from real estate. Managing my property is a smart move that aligns with my financial goals."

[@joanebaptiste-cummins3207]

I agree! I'm in NYC ,and the best thing I've done in life was invest in a multi family ( house hacking). It has saved my life and provided an invaluable foundation. Paid off my parent's mortgage, along with setting up other family members. Social media is trying to tell people renting is better and that's horribly ill-advised.

[@JCizzleSoCal]

I bought a couple of properties several years ago in SoCal and it’s the best decision I could’ve made. The first property became a rental and has quadrupled in price, and the second is the primary which has doubled. No regrets at all. As a matter of fact the mortgage on the second home (larger of the two) is $2500 less than the going rent for the same place.

[@Rjcuatrocinco]

Might be changing in the coming decades. Real estate gold rush ending and big corporations are locking everyone out.

[@Rob_Lerch]

The best way to save money in your 20s is by living at home with your family, if given the opportunity to.

[@Zucr_]

It's crazy if I had done that and work a minimum wage job instead of going to colleges and invested most of my earnings I could have 250k assuming i only work minimum wage. Think I could have done a little better then that.

[@justinm2020]

The job hopping is why there is so much incompetence. If you actually want to learn and master something you got to stay at least 5 years. Depending on job type.

[@caveman9897]

Do you want to master your craft or earn a better living for your family?

[@justinm2020]

@caveman9897 if you master it it's more likely you will earn more overall then be over promoted to a level above your capabilities and then stale out in your career. It's a trade off but more worth it IMO. When I interview for a job or interview someone that has had 10 jobs in 15 years of work its a hige red flag and typically means something not good.

[@protalleus]

@@justinm2020you can job hop without changing career paths, and still become an expert. Good workers who leave puts pressure on employers to better pay future top performers. Employers need to learn to pay their staff. If someone is getting paid above market rates, and are given internal career growth opportunities, what do they have to gain in leaving? That's how you keep good people. Make it hard for them to leave.

[@haute03]

Then employers should stop underpaying their employees. People job hop to make more money.

[@Vub.]

​@@justinm2020you don't have to show them all the 10 jobs. Just show them the 5 most important ones and lie about the dates.

[@probaballistics]

Worst financial killer is not cars but actually divorce

[@gatorjpb]

😂😂😂😂

[@angelasoWA]

Just stay single 😂

[@Racontact]

depends on what side

[@shirolee]

Yep LOL, learned from my friends and family!

[@matshepherd118]

Lead your wife and just don’t get divorced. It’s not that complicated.

[@DontPraiseTheMachinePod]

This has become my favourite podcast and I look forward to new episodes every week. The guest selection is great and the guests are always so candid, and generous with their knowledge ands Eric asks great questions. I also love how Eric jumps into each episode with valuable questions right away. Value from the get-go, no fluff!

[@LevelingUpOfficial]

Thank you!

[@humphrey]

Boom!

[@Paulokun7]

A friend and I were talking about what you said about the number 1 wealth killer. My friend thought about it for a moment, and said that a new car is probably the #2 wealth killer. He was saying how the average person moves every 7 years. He said this is the #1 wealth killer. He has a good point.

[@SM-SM-SM-SM]

Moving is the number 1 wealth killer? I hadn't thought of that, but it sounds likely. Great point!

[@JJ-jn7ei]

Agree! That + refinancing your house

[@RandomJane104]

Jumping jobs every two years isn't for everyone. Also make sure you understand you lose most of your 401k match money each time you jump because you won't be vested. You do get to keep your contributions though.

[@sherpamcderpa1961]

What a great interview. Good questions and Humphrey is an awesome guy. Have only watched like 1 or 2 videos but love his genuine character.

[@humphrey]

thank you :)

[@leadgenjay]

Humphrey Yang really nails the importance of saving and investing for wealth building. For entrepreneurs, remember that reinvesting profits into your business can often yield higher returns than traditional investments, especially when it's in areas that improve your operational efficiency or market reach. Always balance personal investment with strategic business growth to maximize your net worth.

[@humphrey]

Thank you!

[@dennishansbury6362]

This is the 2nd full video I’ve watched (Ms. Tu was the first) and despite the fact that I’m a self-employed artist, your conversations are so absolutely inspiring and motivational. I’ve already subscribed to Mr. Yang, and hope I can use the information you share to increase the wealth of my fiancée and I, and really command our future finances. Thank you!

[@LevelingUpOfficial]

Glad you enjoyed the conversations

[@GOxHAM]

I always hear about this idea of job hopping. Would love to hear more specific details about that. Like are you hopping to completely different jobs? Similar jobs? Were you applying while still employed? Did you take career breaks in between? Did you have to negotiate that pay, or was their first offer? Did you disclose how much you were getting paid before or did you fluff it up? More details please instead of simply saying job hopping means more pay.

[@Playingwithproxies]

Wherever values you more. If you find another company that is doing the same thing but is placing a lot more value on your experience then jump to that if you have other skills that pay a higher amount jump into that. Moving around gives you leverage in the pay negotiation process especially when you are still holding a position while job shopping.

[@lukethompson5558]

It is true that job hopping leads to much higher pay and higher positions, but I’m shocked as to why it’s like this. You would think employers would be smarter, and reject applicants who are job hopping, since it should be obvious from their resume, and an experienced interviewer can sniff out a future job hopper and reject them. For most skilled jobs that aren’t minimum wage, for the first 6 months you’re more of a drag on the company while you’re learning the job, and taking other employees’ time to train you, so if you only stay for 2 years, the company really got hosed. Perhaps tech companies are just making too much profit and stock value to care about foolish/expensive hiring practices?

[@TitusFeliciano]

Its great how raw, transparent and honest the conversation is and really digging into the ‘reality’ of growing in youtube. Subscribed 😊

[@Chrisisthename]

Did I miss it, or where is the conversation about ditching the 401k?

[@humphrey]

haha the thumbnail isnt that accurate!!

[@Vub.]

There is absolutely no reason to ditch free money from a 401k match.

[@RandomJane104]

​@@Vub.Well, if you jump jobs every two years you will be ditching your 401k match money because only your contributions and maybe a small percentage of match money will be vested after only 2 years at most places.

[@Vub.]

@@RandomJane104 yeah. Just wait 5 years. You can jump positions within a company too

[@turkeclipse]

I just did a search in the comments and as I was doing around 1:30 the topic came up briefly. Didn't watch the entire video.

[@arkadandfortuna1582]

Awesome post keep up the good work. Humphrey is one of my favorite KZbinrs because he talks about financial topics in easy to understand plain English with examples. 👍 Great stuff guys!

[@humphrey]

Ty Ty

[@michaelwiebeck3]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[@Rachadrian]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

[@Olsontim21]

Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn

[@Dantursi1]

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 $370k the following year despite having no prior investment knowledge.

[@Olsontim21]

Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this advisor?

[@Dantursi1]

There are several independent advisors you could research. However, I have been working with “Melissa Rose Francks” for almost four years, and we get along great. If she appeals to your judgement, you could continue with her. I support her.

[@cyndeenguyen2394]

I like watching Humphrey, he's very humble.

[@humphrey]

thank you :)

[@eliot5220]

Job hopping works the first couple times but what about when the employer says it looks like you’re job hopping?

[@DonutAgain]

I have never seen it to be a problem. At least in tech it's so common.

[@pchygrl17]

Yay! Love Humphrey’s channel!

[@mattmiller8720]

Great advice! Save and Invest. This is the best country in the world by far when it comes to the equities markets. The barriers to building wealth have never been lower. The amount of knowledge through things like KZbin is astounding, so don't wait.

[@Fuzzycow24]

This is not actually true. We have relatively low barrier of entry, but Canada has more ability to change your class than in US. In the US you can build a higher salary, but your ability to get the higher salary is not as likely, per capita, than other countries.

[@mattmiller8720]

@@Fuzzycow24Thanks for the comment. My comment is not related to salary but the access to invest in the worlds best companies in the USA stock market. In my opinion, one of the best tool to build wealth is through investing, not through salary.

[@rnarzu]

Honesty is not rude. Humans have lots of inertia

[@lolite_a]

This is one of the best videos I’ve watched ever on KZbin . I’m so fr

[@alexandrial6738]

@36:35 I love this take. I was also very privileged that my parents didn't charge me rent while living at home. This allowed me to make money mistakes while on minimum wage. Once I finished school and got a salary I moved out immediately and bask in the independence with still saving.

[@humphrey]

yep!

[@BigheroC]

Humphrey should really really talk about your ability to not pay rent for how many years before you branched out. For me, that's the starting block. All the money he saved and put in certain financial avenues means nothing if he did not have that financial backing.

[@azngettoone]

4:18 he is right. People are lazy and making excuses. I don’t care what your excuses are. Make something out of yourself or just be poor.

[@MennyAnaya]

Your data is incorrect, you cannot expect a salary raise like that every two years, that’s so out of context. The problem with these type of creators that assume personal is general.

[@Porcelynnn]

A 20% salary raise is unlikely if you stay at the same company, but if you job hop, you can get a 20% salary increase if not more. Just depends on your job/role you apply for. People who job hop can attest to that.

[@livingworkingoutsidebox]

When I worked in corporate I was given a .27 to.53 cent raises. I moved into different roles into the same company still very underpaid compared to friends that jumped every 2 years.

[@JTStream]

It is true that the cost of "average" house has risen significantly. But there's a twist in this statistic. The average house now is a lot bigger with more garages and bathrooms etc than the average house back then. If you scale your wants back and stick to your needs (not every kid and baby need a room of their own, cars don't need a garage, etc) and go for a home the size of one in the 50s, suddenly the price range drops dramatically. Modern day people mistake wants for needs and buy McMansions instead of condos etc.

[@3Xero3]

You can simply examine the same home and it's sales history. Currently in my state, on average homes that sold for anywhere from 50-100k back in the early 2000s have all increased almost by an entire extra zero. These sales homes are now in the 500-1,000k range.

[@Geezy_101]

I agree about the KZbin home feed. I think making it optional in settings as a search filter could help.

[@lala-dee]

Buying real estate now high home price and interest as well as leveraging more than one property is risky, no significant equity building and limited buyer pool for resale later, then forcing your household to keep making alot of money for the long term and stuck, cant take risks. Silicon Valley is mostly fd. He's making good financial moves.

[@kameswarikeerthana9414]

single short convinced me to watch full episode.

[@SteakFromJakeFarm777]

if a financial advisor is commissioned based, that’s usually a tell that they are not a fiduciary. a fiduciary will usually charge a flat rate, no commissions or percentages.

[@tumbleweed1976]

Nice work men! I’m 47 and have been saving since my 20’s. Pay yourself then let it compound.

[@workmani]

Humphrey, in regards to your comment about financial advisors using standard investing tools that don't typically beat the market, didn't you recently start partnering with Facet? What is your reasoning for pushing them for investment / wealth management outside of the other planning services they offer?

[@humphrey]

they still offer financial planning for about 1/4 of the fee of an advisor, so I think for plannign they're still good.

[@workmani]

Thanks for the reply, do you think any financial advisor will navigate any downturns the economy experiences better than a simple 2 / 3 fund portfolio?@@humphrey

[@humphrey]

For pure investing purposes, probably not. But the point of an advisor is still not for investing (in my opinion, although many people look at advisors for investing advice), I think their true strength is figuring out how to optimize your entire financial situation. For just investing returns, in a downturn they will perform very similarly to a 2-3 fund portfolio imo, or maybe even underperform those.@@workmani

[@LastDragonElManifesto]

My TOP 5 FAVOURITE CHANNELS ‼️ 🔥 1- Minority Mindset 2- Buy Land Low Down No Credit With Dragon Manifest 3- ValueTainment 4- High Frequency Radio 5- Honey Dip Stocks

[@cre8tion26]

This was the Roth IRA advice I have been waiting for someone to say out loud. Very similar to if you're still young, the stock to bonds ratio in your portfolio should be of a certain %

[@mjtuyor]

18:54 The Money Guys have a Wealth Multiplier chart from age 0-65 that tells what every dollar is worth until you reach retirement age, which I think is age 65 on the chart

[@magno408_1]

What expense/budgeting app does he use?

[@striperkid]

Everydollar by Dave Ramsey.......lol

[@eliot5220]

I don’t understand why rich people say the interest rates are too high. Why don’t you just buy what you can afford? So I’m not rich but I could afford a 34,000$ house with $100,000 fix up. So I did that. I’m not concerned with interest rates.

[@andichrist2000]

Rich people own businesses and businesses need to borrow to grow so high interest rates are bad for them

[@eliot5220]

@@andichrist2000I’m referring to average homebuyers. Of course that makes sense for business owners.

[@revolution5124]

Learned a ton, I appreciate your info and efforts.

[@PurpleNGold824]

I’m not buying a home here. I’m saving up to 300k and moving to either Mexico or Chile. I love Chile. Buying a home in US isn’t my dream.

[@pentrubarbati]

how horrible for a company to pay 500k and expect you to overdeliver how evil

[@BillyFowler-n8l]

😢

[@humphrey]

they did not pay 500k but i was able to save up that much throughout all my jobs/investing/etc

[@JonathanRootD]

It's all relative, how much are the execs pocketing from your labor?

[@veritas3179]

You don't have to take the job.

[@Playingwithproxies]

@@JonathanRootDif you aren’t making more than your being paid you aren’t worth paying at all. The only reason a company would hire anyone is so that person can make a return on the salary they are paid

[@jessicasquire]

Engaging with books has significantly elevated my perspective on investing. True wealth isn't built through mere savings; financial freedom stems from strategic investments. I've learned that accumulating wealth hinges on making prudent investment decisions|

[@Lemariecooper]

Embarking on the investment journey at 40, I envision a triumphant testimony of significant success by the age of 55..

[@Erikkurilla01]

Books have also changed my perspective on investing. Understanding that real wealth is built through strategic investments rather than mere savings is crucial. Working with an adviser has pointed me in the right direction_

[@Erikkurilla01]

'Angela Lynn Schilling’ maintains an online presence. Just make a simple search for her name online.

[@LevelingUpOfficial]

Thanks for sharing your inspiring story @Lemariecooper, If you're an agency or business owner, our AOA community could be a great resource for you. Check it out: marketingschool.io/agency.

[@michaelriera6277]

I missed the part about ditching your 401k. Hope title wasn’t clickbait.

[@KrustyKlown]

House Affordability was HORRIBLE in late 70's, early 80's when rates peaked neared 18% !!!

[@ronaldreyes2243]

Definetely not the case getting wealthy from buying a house. Keep Growing Capital, then that Capital will let you buy your home cash.

[@corpuzone]

You can have a “nice” car or two, but I believe it helps to save least 10% of each paycheck so 20% a month or your take home pay(net). You can follow the 30% rule for paying monthly on a car, but not here in California that’s not possible. Depends on your lifestyle and your needs. Build a safety net and lessen the luxuries the vacations you will be fine. If you are married or have a partner it’s great to have 2 incomes helps significantly. That leaving a job after 2 years isn’t too realistic I tried that .. if in the future you do that, be sure you can back up what it says on the job description and research do your due diligence. That interview process is challenging, but once you make it you’re in!

[@Andrew-Comi]

This is why every millennial i deal with has no clue what they're doing. They dont stay in a job long enough to master their craft. Changing jobs every 2 years is an awful mentality.

[@ZZ-ed6wp]

This podcast has some serious you know it I know it everyone knows it vibe.

[@egrose]

Watched the entire interview. Humphrey is the man. As a subscriber of his, was great getting to know him better. Thanks, guys. 👍

[@humphrey]

Ty ty🎉

[@johnburnett1974]

I’m a truck driver and there isn’t much difference in pay from one trucking company to another. So there is really no point in changing jobs. I’ve been driving for 20 years. My wife and I drive team and we each make 100k.

[@LowInformation]

I bought NVDIA and MSFT for $2, $18 in 08. Investing your extra money helps protect it against costs going up. These 2 examples have gone up a couple a dollars since then.

[@DownSouthFinance]

$1 saved is $88 in retirement. Information comes from The Money Guy Show. Starting Value: $1 Period: 540 months (45 years) Rate of Return: 0.833% (10% annualized) Ending Value: $88.35

[@Playingwithproxies]

10% is way to high over 45 years 😂 8% gives you roughly $32 per dollar saved at 20 years old (dollars saved after 20 give you less every year). But if you factor in your loss due to inflation it’s even less. 2% inflation over 45 years compounded makes the 8% return worth $13 (in todays dollar) per dollar saved at 20

[@roosplans]

But what if you're an average person who isn't tech or finance smart? Instead of moving jobs to gain income, should we go get new qualifications or certificates to even be able to upgrade our jobs and income? If so, what are new certifications or new qualifications we can do that won't break us before going into a new job? For example, I've been working in the school system, and working with young ones is the ONLY experience I have. How can I upgrade when I don't have different or better qualifications?

[@ds5651]

Agreed. I am in the top 9% with a Roth IRA and financial independent. People need to get clear on their goals and their why.

[@Almightykingtay]

I agree you more likely to get a raise job hopping

[@LeprechaunGinger]

I have made 3.2 mil in my 401k and have 2 properties worth over 1.8 mil. With 680k in treasury notes along with 230k in bank CD and savings. I am 48. Just from wise investments in stocks I manage just making 130k a year. 401k is just fine!

[@Mikeignasty]

Nice! I’m 35 and kind of on pace to have similar numbers by the time I’m your age. What’s your financial goal? Will you retire soon?

[@LeprechaunGinger]

@@Mikeignasty I tried to retire and found myself bored without an intellectual challenge and a lack of socialization. My mental health suffered as a result. I did however get very good at golf, pool, drums and guitar.

[@b0ndrey]

That’s crazy. Congrats! I don’t understand how that works on that salary though. I’ve been saving toward retirement since age 21 when I joined military and now at 48 have about $550k total between retirement accounts, savings, and brokerage and don’t own a home (due to divorce). Between divorce and serious health issues I’ve lost my home, rental home, and about $650k, but even if I had it all back that’s still a far cry from where you’re at. I’ve also never had a fancy car or lavish lifestyle. Contrary to your lived experience, my life experience has shown me that compounding calculators and planning are best case scenarios that don’t actually have much chance of playing out. Having lived in a self imposed environment of scarcity since my 20’s for the sake of financial security and retiring in my 50’s then not having it play out has me wishing I didn’t penny pinch so much and had more fun with my money while I was younger.

[@TexasMade903]

You're my inspiration

[@SomsaiArts]

Another amazing talk. Ty for the free content. :)

[@y2han]

My journey - out of college Year1 $62k Year5 $86k (promotion) Year7 115k (job switch) Year10 155k (job switch) Year12 185k (raise, current ) My takeaway if the company has a mechanism to conduct regularly review and offer raise or promotion then stey. If not having such mechanism within the organization then switch every 3-4 years (dont do 2 year!!!)

[@atachardware826]

Key: Index Funds …. Market Tracking

[@jamesloehr641]

Switching jobs is kinda hard when nobody is actually hiring and the next job pays a lower starting wage.

[@redic3408]

Does anyone know about the AI Eric is talking about at 1:13:00 can’t seem to find it anywhere.

[@husnaafsheen]

I think its the edify app its like an ai tool which mostly checks for online reviews

[@euko7469]

tesla isn't really known to be high paying in the tech space. maybe spacex is a different story, but people that accept tesla offers are impact driven, not by paycheck

[@tannerstull6490]

26 still at home, following these methods. I laugh at ppl laughing why I have 450K to my name while they spend 1600-2200 a month in rent, financing their car and get Starbucks everyday. I still to brewing coffee at home ty

[@Davewhipped]

The job hopping thing is ehh. Most people will peak at some point. I agree with the get promoted within the company comment, but there are risks to job hopping. Also, 401k vesting, insurance, relocation terms, bonus terms, etc... The job jumping is probably more for jobs like engineers, computer coders, or highly educated people with connections. Regular people cant job hop every 2-3 years over and over, with 10% bumps each time. maybe early in ones career but then you'll run into a market average.

[@GlitZnGold]

Thresh from Quake came up in this podcast 😂 totally nerding it out and unexpected.

[@striperkid]

Quake, DOOM, Unreal Tournament, Team Fortress, Americas Army, MOH, Counterstrike, and Duke Nukem.......loved playing those games.

[@Lee-up4bz]

Changing jobs every two years is great for making more money but it also looks bad. Looking at resumes, I pass on these people.

[@grQTbVMrZ]

Yuppppp ZERO loyalty to the company. Creating massive turnovers

[@100rando7]

For the most part that is the only way to create a "raise"

[@Richard-Reloaded]

Jobs don't care.

[@lil_bofo3103]

Alot is good knowledge but 10 years of making over 100k and can't buy a house that doesn't make sense I have never made 100k and almost done paying my house off yet im also 33 years old and with 3 kids it's really hard to connect with this guy as a normal person who grew up in the hood in south central and compton we need an interview with. More realistic person. Even he says he was privileged.

[@alinatsui209]

Housing costs also depend on location.

[@lil_bofo3103]

@alinatsui209 yes it does but I live in los angeles and yes he live in San Fran but I have never made close to 100k

[@jenniferlindsayfleury7810]

He lives in a high cost of living and he did not buy a house because he didn’t want to. He had half a million when he moved out so he had enough to buy a house if he wanted 2. Also his privilege is that he was able to live at home rent free- I know tons of people who could live a home but make the decide to move out.

[@lil_bofo3103]

@jenniferlindsayfleury7810 you are right there are many people in the same situation as others that have the privilege to live rent friend but it's a lower number then the norm as many have abusive households, ect. But at someone who's been making that much money and only have half a mil it doesn't add up still u mean to tell me someone would rather rent then put that down on a purchase come on I do real estate for a living numbers don't add up to someone who has a well profitable business from what he says but that's just my opinion I just feel wee need to hear from someone that comes from areas like compton, South central, east los , Chicago or something to which the majority can connect to

[@jenniferlindsayfleury7810]

@@lil_bofo3103 he probably was spending his more of other things ?? homeownership is not for everyone. I owe only because of family pressure (moved here from a third country and was brainwashed that owing is the way to go- the American dream) I would be happier renting cuz of the flexibility and not having to be responsible for repairs and such. My sister in the other hand is extremely happy of owing her house and have a sense of pride that it is hers. Everyone is different I guess

[@Fjjfuffnr244]

A lot of pro/con argument with real estate investing is entangled in resentment and emotionally charged parent/child relationships. I see a lot of the “anti invest in real estate” youtubers come from them rebelling against parent advice. Owning a personal home IS NOT investing in real estate. It has a psychological componenet that should not be ignored.

[@NickOloteo]

Eric: nobody talks about google because it isn’t sexy. It just keeps getting harder and harder. 👁️👄👁️ keep going 😂😂😂

[@xchying]

43:43 holyshit subspace! continuum? no effking way that game had like 200 players world wide, i loved it.

[@BasicBeachCommunity1]

great. Thx I shared with my 2 older kids

[@mudpitperformance]

A hard pass when I hire is anyone who has had 3 or more jobs in 2 years.

[@Simon-lh9oh]

Why can’t you take a loan to use the 401k amount for those amazing investment opportunities or property that could come up?

[@chipsun2504]

Source of the problem is the fed reserve and the debt system. No point in making more money if its worthless soon

[@dustyroads3071]

I disagree with buying a 3 year old used car. In my opinion, If I had $30,000 to spend on a car, I could get a 3 year old Lexus with 50k miles on it or a brand new Mazda with 0 miles. If you buy the brand new Mazda you get an extra 3-4 years out of the car and you eliminate the "Status" of owning a Lexus.

[@Winston0Boogie]

For 500k I would drive to Texas and sleep in my car, shower somewhere else. I'd save the money. I'd take what I saved and dump into VOOG. When people ask what CEOs make they're not taking into account what they're making. If I made 500k the CEO probably made 50M or whatever. They're making money off you but you're making money off them. If they didn't see value in your work, then they wouldn't hire you. It's symbiotic.

[@AR-ln7ln]

Having friends who are always broke and in need of money is costly.

[@FascinatingFacts562]

I think it’s amazing how many “financial influencers” there are that have zero background or certification for giving advice. Good to see an actual advisor.

[@wandasworldmoneyjourney5788]

Great content

[@carlc4098]

It only works with people that are really good, which is not the majority. The majority are only average or below that usually don’t last in the industry.

[@YourYouTubeCoach.]

I’m brushing my teeth right now lol 😂

[@nick-nj2gt]

Different tech environment now. And I'd also argue both of their success is more DEI related than "making it happen".

[@thaifanmeetusa]

I wish he asked him about YT momentum how he changes his thumbnail/titles to make them more effective over time!

[@einahsirro1488]

I've got you guys on while I paint my ceiling. Dark green, if you were curious. =)

[@taylorgeorgs]

This guy really said "DoEs SoLaNa ReAlLy EvEn Do AnYtHiNg?"

[@STEPXMoney]

Those chairs are so low. Are they actually comfortable?

[@darksideofthemoon19]

Earthbound was amazing.

[@humphrey]

Hell yeah

[@InvestingWithAdamK]

Early into video. . . People often talk about home prices to wages from the 50’s or 60’s. How many square feet was that home? There is no comparison of what a home was in the 50’s and the regulations required to build them. The government costs along with how much the property has changed is never taken into account

[@AFGixxeR88]

So are people blowing up on social media by making how to make money videos then actually make real money from them

[@eliot5220]

There are a lot of dumb people so they latch on to folks easily even though the people they are latching onto don’t know anything other than how to edit a video and spew surface information

[@danielj5136]

During the American gold rush of the 1800's, you could take your chances at striking gold and possibly go broke...or you could sell pick axes and shovels to the first group. Financial videos are a little bit like this. They are selling the pick axes.

[@pbt106]

HUGE UPS for the shoutout to Subspace @humphrey! Were you in the TW leagues at all?

[@humphrey]

I wasnt!

[@jamesstpatrick8493]

Only job hop in tech. Job hopping isnt always a good idea

[@lesleytao1915]

So smart both of you

[@jandeguzman8900]

how do ya'll feel about international diversification? Surprised Humphrey doesnt hold something like VXUS.

[@veritas3179]

People should stop complaining and blaming everyone and everything but themselves.

[@ConfidenceCreator2]

01:27:26 Can you tell uz who these people are you didn't mention it in the video