Harvard Professor Reveals the Worst Thing To Do with Your Money

[@annaj.osorio]

If the dollar collapses don’t be fooled your debts doesn’t disappear, they add it back to the new currency or mode of barter. best advice get out of debt. make regular investments be debt free and financially stable

[@angeladeem2988]

Safest approach i feel to go about it 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. its important to seek the guidance of an expert

[@ClaudiaSchreiber-b1p]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@JBHus]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@ClaudiaSchreiber-b1p]

Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@DanielOrstein]

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

[@GonzaloEyzaguirre13]

Arthur was my professor at Harvard, he is the boss. So happy to see him together with the Ramsey team.

[@honor9lite1337]

Indeed.

[@markusmuschiol1966]

What is his full name?

[@coachtracy747]

@@markusmuschiol1966Authur Brooks

[@markusmuschiol1966]

@@coachtracy747 Thank you 🤗

[@CatzyCatzy]

Well...this is interesting...another user that knows a professor. I gotta inquire about this. How does it feels to see your professor in KZbin.

[@simplifyyourlifewithgwen]

“You’ll forget the stuff but you won’t forget the experience.” Love it! ❤🙌🏼

[@saeedhossain6099]

yeah not so much, convincing people they need to have experiences over things has become an art to make people repeatedly buy substantially similar experiences in order to chase the same high. it's just considered classy. same as how at the dawn of indoor plumbing was all exposed in order to show off.

[@armandoweckmann5699]

Im 42 unmarried, no kids. Back when I was 39, I reached my goal to pay off all my debts, including my mortgage. I started making 6-figure income immediately after reaching my goal. I quit my job a month ago to start my own business and travel more. Im attending church more life is great. My next goal is to find a gal to marry and start a family 😊 I enjoyed watching this ☺️ Thanks!

[@March_13_18]

Loving your goals ! How long did it take you to pay off your mortgage?

[@childfreesingleandatheist8899]

@armando: Getting married would mostly ruin your plan and life. Besides, if you’re already at this age and doing well, why not just continue full throttle? I’m almost 54, never married and never wanted children. I would do it all over again.

[@thesauce669]

Before finding that "gal" make sure she is on the same financial page as you additionally get a pre-nup. You are bringing a lot to the table 50 percent of the love stories end in divorce. If she doesn't want to sign one then tell her politely to go kick rocks and find a chic that will sign one.

[@childfreesingleandatheist8899]

@@thesauce669 Judges will treat pre-nups as toilet paper. The divorcing wife can always say that she signed the pre-nup without her lawyer present; that she signed it under distress; or the judg can claim that the pre-nup is very one sided. Just don't get married or bring your girl to your house to live with.

[@thesauce669]

@@childfreesingleandatheist8899 dont have them living with you is the key. Want to know problems see Tiger Woods and what the girlfriend tried to claim.

[@RaymondKeen.]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[@TinaJames222]

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

[@ScottKindle-bk3hx]

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

[@PaulKatrina.]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@JohnSmith060]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@PaulKatrina.]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.

[@jplebihan]

I live in Boston and once complained about our "worst" weather to a coworker. She casually mentioned she was originally from Siberia. 😳 Boston, you're off the hook!

[@ArtzFenix]

😅

[@sunnyd4734]

I live in Boston as well and we have beautiful summer ☀️ weather. Snow ❄️ hasn't been that bad in recent years. 😊

[@aboutwhat1930]

@@sunnyd4734 It's really been a shame-- summer gets too hot, winter isn't nearly cold or snowy enough. Still got plenty of rainy days unfortunately.

[@Tracey-hg9sj]

@@sunnyd4734 I live in Plymouth and we haven't had any measurable snow in the last couple of years. Wait a few years, we won't have any snow!

[@sunnyd4734]

​@@Tracey-hg9sj Did they recently restore the Mayflower II? Is it docked in Plymouth harbor?

[@oneillbilder]

So what are really the best strategies to make our portfolio recession proof. my wife is already panicking, so many questions! will the rate cut next month lead to inflation? I'm very worried about my $1million stock portfolio losing value. It lost 20 % today alone

[@Robert_Seaman]

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.

[@Walter_hill_]

True, my portfolio took a massive hit in 2022, and I almost sold everything to switch to cash savings. However, I was advised to consult a financial advisor. Following the guidance of this CFA, my portfolio started increasing by 10% monthly. She had anticipated the crash and rebalanced my portfolio accordingly.

[@Trevor_Morrow_LTD]

To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.

[@Walter_hill_]

Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@Trevor_Morrow_LTD]

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.

[@Mrslykid1992]

Took a step back from my previous career where I went from 230k to 120k. Went from 11 hours of work to 6 hours of work and relaxing on the weekend. Love it!

[@terrencemcphail5782]

Did same thing went from a 180k job traveling to a 110k job back in nc where cost of living is cheap, home everyday weekends off moved back to my roots after military and chasing money.

[@Mrslykid1992]

@@terrencemcphail5782 Nothing beats: - Restful night - Mental Health - Not hearing Teams messages every 5 mins - Enjoy a 1 hour break - Not to constantly regret working every single sec - Not having to dread Sundays nights - Not sleeping in on Saturdays to recuperate - Not drinking yourself to numb the pain

[@Yeeha494]

@@terrencemcphail5782 can you guys tell me what you all are doing. I’m young and trying to figure out a path for making a living myself. Still in college, uncertain about the specific degree lol

[@Farmgirlathart]

Wow! Time is valueable.

[@Executor009]

This.

[@StalinGrabovsky]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@SoledadHughes-q2i]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@NikitaMcLauren]

It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings

[@EricCarson-v4y]

How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@NikitaMcLauren]

Elisse Laparche Ewing 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.

[@SlavoPetrovic]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@Riggsnic_co]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[@kevinmarten]

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 .

[@Jamessmith-12]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@JacquelinePerrira]

Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.

[@JacquelinePerrira]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@thedude5040]

@@Riggsnic_co BOTS HAVING SEX!!!!!

[@MyBestVersionOfMe]

@18:43 I asked myself the same thing about you when I found your channel back in April of 24. Since finding you, Rachel and Dave Ramsey. I've completely changed my life for the better and you all have even motivated me to start a KZbin channel trying to pass on everything i learn from you all. One day I hope I can get the chance to meet you all. The life I'm creating for myself wouldn't be possible without all the knowledge I've learned from your whole tribe. Thank you from the bottom of my heart. You guys are changing people lives everyday, I know this cause you've changed mine! Thank you!

[@mandypdx]

Dave too?

[@MyBestVersionOfMe]

@@mandypdx of course

[@MrLoungist]

I needed this video two weeks ago before I bought my small used truck. I thought I needed a truck so that I could do yardwork. Take the grass to the dump do tree trimming and small projects around the house. This guy totally reframed it because the $700 a month I would spend on the payment and insurance and fuel could go to people that would do the things I needed done and it would free me up time. Wow, did I miss the boat on that one?

[@lindabaker667]

You're paying $700/month for a used truck??? Sell it. Buy a cheaper used car CASH. If you want another truck, save for it and pay cash. I started listening to Dave Ramsey in the 90s. I don't go along with everything. (I have a credit union credit card that gets paid off every month. Debit cards are too risky in my opinion.) BUT, I am debt free and there is no weight sitting on my shoulders! The Bible says the borrower is slave to the lender. This is true! Keep setting goals. It's what motivates you.

[@triforcelink]

Or you could just have a small compost pile in the yard for the trimmings, and fire pit for burning branches. I’ve got a 2006 Prius hatchback and I brought an entire kitchen reno worth of materials with it, including 8ft slabs of granite.

[@angelgregio]

Could you reword this where it makes sense?

[@LuckyCharms777]

@@lindabaker667 _”The Bible says the borrower is slave to the lender.”_ I bet the Torah says the same thing. 😉

[@miguelpanty]

Im Mormon and ive been tithing ever since ive started working. 10% every paycheck. Its been a blessing and I can see the hand of GOD bless me and my family through tithing.

[@smacdiesel]

Your God is satan.

[@scottwhiting3716]

Before or after taxes

[@edwinsvoboda8067]

get rid of any unnecessary purchases, especially things that cost you monthly or better still, consider financial planning

[@sheilahartley6934]

Exploring the high-stakes world of day trading reveals a blend of risk and reward, where strategic leverage plays and timing during market fluctuations can lead to significant gains from minimal investments. This approach emphasizes the necessity of careful risk management, including setting stop losses and technical analysis, to navigate the volatile markets effectively.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to *Julia Lembcke*, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@wellingtonmichael1397]

Thanks for the reference

[@raphaeljohnson5525]

Ohh great! How do I get a reach to her?

[@toddlevin]

SCAM ALERT!!

[@timkozlow5258]

It is good to be reminded of this. I have had no debt for the last 25 years. It doesn't move the needle for me like it used too but when I see these shows it reminds me why I lived this way.

[@AnthonyJustice-i9x]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Brooke Miller.

[@scottweiner9]

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

[@stephaniebeddis8069]

I'm surprised that you just mentioned and recommended Brooke Miller, I met her at a conference in 2018 and we have been working together ever since.

[@GrozaGroza-ko7fn]

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

[@fameswap-dq5eo]

I'm new at this, please how can I reach her?

[@jahhflies]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@libnoscenti]

George, I like your videos. Even when they're the baby steps formatted for audiences with tiktok length attention spans. I LOVE your videos where you are sitting down and chatting with experts. But THIS video is just phenomenal. The information is life changing, validates the Ramsey plan... Wow. Thank you to you and the team for bringing us HOPE

[@vanillasunrise1]

Yes!! I love the longer formats!

[@zachbaugher421]

​@@vanillasunrise1absolutely! Could've listened to them talk for hours

[@User12345fan]

They are skewed to getting people that will say exactly what Dave Ramsey wants them to say. No one that has a minimal criticism to Dave’s baby steps will not be invited.

[@ludwigvonsowell5347]

Remember Dave has made a living for 30+ years with those flipping baby steps.

[@marvinmcmurray761]

​@@User12345fan How does that actually change anything

[@topdog19945]

It feels good to live within my means now. Last week I took a short trip to Orlando with my girlfriend to see a concert and go to Icon park. I just paid cash for a new car a few weeks ago and I miss seeing the actual progress I made but I'll get my next goals lined up here soon. I just got back from a doctor's appointment as well. I'm glad I can take care of my health too.

[@TaylorOwen]

Nice.

[@thecastaways2]

Arthur Brooks’ older book Loved Your Enemies saved me from the horrors of ideological extremism and helped me become more open minded. I’m so happy that his incredible work has grown and expanded.

[@laqueciawilson6381]

It’s Proverbs 11:24, to receive back more than you give

[@thesauce669]

If i give my entire paycheck to strippers will I get double my money back? If so how long will it take?

[@HisLilyPrincess]

​@@thesauce669don't take it too literally. Refresh your attitude and your perspective. Focus and do hard work. It will get better. Just hang on.

[@stoundingresults]

​@@thesauce669you know dude, even if you don't give a dollar some other chump will and you get to see them naked anyways. Also you can show up pre-half drunk to the bar

[@debrabarnhardt1103]

A powerful, but lone voice, confronting the marketing and advertising industries that tell us buying always will make us happy. After a good friend died I saw a brief article stating a research project determined that buying things is a common way to deal with anxiety over death. I thought of my friend and realized he had done that, which hastened his demise. It's not just happiness, it's survival at stake.

[@MrVIE0406]

One of the best 30 mins of my life, I am so glad I don't have Tiktok on my phone, 30 mins can be so valuable yet can also be so wasteful.

[@SandraBurgess9]

This is amazing. “Wealth has no shortcuts, there’re ways to attain it.”

[@SandraBurgess9]

the first step to gaining wealth is figuring-out your goals either on your own or with heIp of a financiaI pIanner and foIIowing through with InteIIigent pIans; you wiII gain financiaI growth in no time and enjoy the decision of managing your finance

[@SandraBurgess9]

I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.g

[@SandraBurgess9]

Elizabeth Greenhunts get to her with the name

[@idlewild]

I never thought I could like a Harvard professor, but Arthur Brooks has proved me wrong. This was seriously one of the best videos - certainly concerning one’s financial and well being - that I have ever seen. I adore the last bit about investment of love across Faith, Family, Friendships, and Work. You have a new subscriber and I’m moving from the NE to Tennessee. 🙏🏻 ♥️ 🇺🇸

[@ParkDari]

After the birth of our kid, one of the greatest moments in our life was paying off that mortgage there’s just no way to explain how sweet life is when you have no debts whatsoever on anything along with a fully funded emergency fund you kind of feel invincible to life’s daily hassles, in a funny kind of way.

[@surfnbacker84]

I very rarely hear of anyone who regrets paying off their mortgage.

[@FTBLDepot]

Most of us won’t become millionaires, and I think the next best thing to being a millionaire is being debt-free..

[@jeanpolkoski2107]

I agree. We paid off our place last August. I cried with joy. We will pay off the last of our debt (truck) end of July. The feeling is freeing!

[@Kevin-mk6jo]

Welcome to the debt free club. Retired at 42... now 45. They hate us, cause they ain't us.

[@Blubbha]

I have paid down as much as possible within 10 years so I am only on 30% I need to pay down. But in parallel I have started to build my cash flow portfolio. Now my dividends are paying my mortgage. I think this was a good step for me to have the length in the stock market.

[@euphrates74]

I'm the type who would remember the couch 🛋....because I'd keep it for years! And remember all of the movies we've watched sitting on it...what an experience 😊

[@neige4221]

I feel the same way. My husband and I bought a decent quality couch shortly after getting married, and we still use it to this day even though it’s 25 years old. Most of our vacations at the beginning were very affordable; because we had young boys, the majority of our getaways were camping trips, which the kids loved, not so enjoyable for me btw, but my happiness came from seeing them have tons of fun.

[@paulnewellmorison]

It’s all in how you frame everything though. You could buy a couch and have “good experiences” on it too. You can buy a car and take a memorable road trip too. Stuff sometimes allows you to have those experiences. Your perspective on everything, actually matter when it comes to happiness.

[@kimmieshimmie]

His dad tithing before taxes instead of after taxes “just in case” - I laughed out loud! Love it.

[@joycewright5386]

I always tithe before taxes because the Bible says “first fruits”. To me that is before taxes.

[@kasession]

I started tithing after taxes. I was blessed immediately. 🙏🏿 Since then, I've continued to tithe that way. Still blessed to the point that I do give a little bit more each time, but have also been blessed to the point that I've been able to give more to causes I believe in.

[@OhanaJay]

“FIRE INSURANCE”🔥🔥🔥

[@lucybell1487]

Arthur's focus of a happiness mindset being regulated by your brain is spot on for decisions of being debt free and living below your means

[@TheMotionBboy]

I’ve been telling EVERYBODY about this channel! George, you’re an ALL STAR! This entire video was LEGENDARY!!! 💪🏾

[@ArchieJohnson5h]

Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this

[@CoreyLloydo]

We've all made mistakes at some point. You should consider financial planning

[@AdamWright8fool]

True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.

[@ArchieJohnson5h]

Do you mind sharing your financial planner ?

[@AdamWright8fool]

Leah Foster Alderman

[@AdamWright8fool]

You are most likely to find more info when you look her up.

[@tanq1687]

What a learned individual. Truly decades worth of lessons in just 30 minutes. Thanks for this video!

[@BitchbetterHavemymoney-k1f]

This is true! I have given money away my whole life, and I always seem to get it back!

[@Mattxwill1]

Apparently I am the exception to the rule. In nearly ALL times I have given money away out of kindness, or even a personal loan, I have not gotten it back. On 3 occasions it was a significant amount of money. One might even start to think "it must be me" but then, this self doubt is ridiculous. I would love to personally contact this guy or be contacted by him to discuss these events in my life. I'm genuinely curious how he would address them. Because at this point in my life I have sworn to myself and my family I will never loan money again I expect back. Giving to a charity is another thing.

[@DeepFuture]

My father sat me down at age 23 and said, "You're buying a house. Now in my 40s and my mortgage in gone. It is absolutely the best decision I've ever made and definitely makes me happy.

[@ChoniChannel]

Great dad!

[@ianskidmore9893]

My dad died when I was 16. Unfortunately never got to that step in the relationship. Wish I would have learned earlier

[@happylistener4628]

Thank God I have never been materialistic and always a saver. Living frugally and being a minimalist(consumer marketing schemes/traps won’t work on me. I don’t need their crap), I happily retired at 60 free of debt 💸 and left the wage slavery rat race workforce system in 2021. It’s so simple. If I don’t have the cash to buy it, I won’t. Life is much too short to waste precious time and energy chasing meaningless material things. Time and Family is what truly matters. The work will always be there. It’s never ending. In spite of today’s uncertain inflationary times, our family of retirees is gratefully blessed, thriving and enjoying a well earned comfortable retirement. Hallelujah!. God is providing. Freedom and Peace of mind. So no worries or fears here. This is true wealth.😊

[@DeepFuture]

@@ianskidmore9893 very sorry to hear that.

[@Cookieboy70]

I envy you. I wanted to buy a house when I got my first good job out of college. My parents insisted I stay with them until I meet someone and could pursue a house together. Well, staying at home wreaked havoc on my single life, so I took vacations to both meet foreign women overseas and enjoy some independence. This was at the objection of my parents. This habit spanned across years, and I never saved enough to make a home purchase. Finally buying a house 15 years later at the worst possible time in the market, me and my folks just think back and all wish they had said "yes" back then.

[@chriswebb4797]

I invest in real estate and was worried about this video. It was actually quite refreshing. The Dr. clearly understands the differences in debts for investments and non-investments. I took down several notes, thanks for having him on.

[@Entertainer114]

Loved this. And loved Arthur Brooks! What a gem of a dude. He's right about the four investments: Faith, Family, Friends, and Work. Thank you for this content!

[@HomeschooledBlackGuy]

I don’t love mowing my lawn. But I HATE correcting contractors.

[@ShawwwHa]

😂 same here. That's why I buy tools and do it myself. For those projects that are too complex and I have to pay. I avoid seeing the work in progress because I would lose my mind if I saw half ass workmanship.

[@jordh24able]

Everytime I've hired someone to do something to my house... They've screwed up or I haven't been happy with the workmanship. It feels awful when you haven't done something before and you can do a better job than the person your paying $100 an hour to do.

[@ConnieFoster1]

Decided to hire a pest control guy to take care of the ants that were attacking my air conditioner. He shows up with a bag of ant killer that you can buy for $8 at the farm store. Sprinkles them around and leaves. $150 later. No, I never feel good hiring people to do stuff around my place. Only twice contractor's have worked out....when I had them fix my roof and cut down two dangerous trees. Otherwise I'd rather be independent and learn to do things myself

[@Itsjustme1982]

@@ShawwwHa As a Contractor you sound like a tough critic. However hire professionals with many positive reviews. In my honest opinion you sort of get what you pay for in the construction field.

[@kevmitch4992]

If they give you work that achieves 70% of your goal after it's done it's a lil bit above half assed

[@susangriffin6491]

I bought a thoroughbred horse from a race track and I had so much fun. It is one of my favorite memories!

[@abigailbrown2147]

I actually didn’t like my honeymoon & it was dirt cheap. But I was thrilled that it was dirt cheap because then me and my 20-year-old spouse were able to buy a duplex six months later Now we own three . Sometimes experiences are not worth the investment

[@chiplangowski3298]

Most people find that their "experiences" are totally worthless when they try to sell a few to come up with enough money to pay their rent at the end of the month.

[@d454b]

Owning a home is a wonderful experience! And having a real estate portfolio, once again, great experience.

[@TheThreeMountains]

There is a saying: "No place like home". I hardly buy experiences because they are expensive and I fear the end result that "I wasted my money". My happiness lies inside my home that I renovate but also in keeping ❤ and peace with my family... My son loves being at home...

[@LegDayLas]

It's amazing how people don't understand that correlation does not = causation when it comes to richer people giving more. Rich people are not getting richer because they give more, they are giving more because they are rich and can afford to do so.

[@lapx1]

Middle class give the most percentage wise😮

[@westbccoast]

Brilliant interview, one of the best Ramsey videos, thank you George and Team and The Professor.

[@nikkininedoor1480]

What a Fantastic Interview George and Prof Brooks! Thank You!

[@vidyaranyavijayapura1121]

Charity is morale and confidence booster, it instills your confidence how much your life is important for this world.

[@LeNguyen-im8dm]

I am 40. For many years, I focused on education, worked, and saved money. Now, I have saved ~$300K, but I can’t afford a home in San Jose, CA. 😂.

[@GilbertAragon-z4e]

Educate yourself on other states politics, their tax laws, and societal behaviors so you can move.

[@texasmadetexasraied8393]

Relocate. You got it ! 😂

[@dabbbles]

Count your blessings!

[@portermatthew84]

The meek may inherit the earth...but they're starting with California 😂

[@dmonty4354]

@@portermatthew84 that’s funny 😆 🤣🤣 The Clownafornia ruler would like to bring UnHolyweird results to the rest of the the country. 🤡

[@andrewso781]

One of the most enlightening 30 minutes I’ve ever watched. I’m looking up this guy’s books rn

[@eileenwatt8283]

10% goes to uplifting the next generation in my family to achieve their goals quicker. They are able to graduate college without student loans. Charity begins at home to those who have a goal and a plan. Family first. When one rises and help another we all rise as a family.

[@MindiiSimii]

I want to sit down and just talk to this man. He has so much to offer the world and is so intelligent.

[@wulver810]

I hit a point where my retirement account will grow on its own and take care of me at that point, now I can shift those funds and travel more and enjoy my life more often NOW! No faith, just belief in myself.

[@wade_says]

Very smart guy. How we spend our money is so important. I always value time and experiences over stuff, which was a hard lesson to learn.

[@erikmooree]

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

[@AliciaSalvadore]

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

[@AliciaSalvadore]

How can i reach her, if you don't mind me asking?

[@erikmooree]

Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@DennisSoklov]

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

[@DennisSoklov]

The very first time we tried, we invested $7000 and after a week, we received $9500. That really helped us a lot to pay up our bills..

[@eplugplay8409]

Its true. I recently sold a bunch of stuff and my monthly allowance I used to buy stocks for investment for my future. It's an extra side investment that I'm hoping will grow huge the next 10-15 years. I could easily use this money to buy a lot of electronics and equipment that I always wanted like the laser projector for my game room that I've always wanted and a bunch of other things I want but I realized that saving and watching the progress over the years is way more enjoyable than the things I would have bought.

[@pjm3005]

and you can buy all that stuff when you retire early and have the time to enjoy it. I want a projection system for my D&D game but it can wait.

[@BigbossEssential]

I’m 10 minutes in and this is an unbelievable convo! Thank you!

[@doggydogdaily]

5 Things To Do With Money 1)Buy Things 2)Buy Experiences 3)Buy Time 4)Give It Away 5)Save It

[@philiptran617]

I invest my money to make more money. I dont buy anything LOL.

[@EmilyAllan]

@@philiptran617 Doesn't that mean you buy assets or pieces of companies? 😅

[@philiptran617]

@@EmilyAllan didn’t he refer “buy stuffs” to buying things around you that later on not making you happy? I invest in assets that make me happy. 😄

[@juicyfruit100x]

Buy things. I buy stocks and ETFs 😁😎

[@doggydogdaily]

@@philiptran617 investing is buying things 😂

[@Techpower888]

Wait...did this guy just say buying multiple watches is ridiculous, but is also wearing one on each wrist?? 🤣 But seriously what a great interview. Love the book setup in the background too!

[@Rooks84]

Lol I was just thinking this to. I'm like this guy has what looks like a smart watch on his one wrist and a traditional watch on his other wrist, and he's telling us not to buy watches.

[@dleblanc172]

Looks strange but obviously he’s a boss and knows what’s up. Maybe for two different time zones? Maybe someone said, “Hold my watch,” and he put it on and forgot he forgot about it??🤔😆

[@Jrmint568]

7:45 idk man you can make a lot of memories on a couch

[@foodmens]

A man of Culture you are

[@Jrmint568]

2009 call of duty modern warfare 2.. alot of memories playing that game 😅

[@FreakyLynx]

I have a lot of good memories on my couch, I have a lot of bad memories of the beach.

[@hisnamewasSam]

😂😂😂

[@myronrobinson5154]

😂

[@jayschill5049]

Fantastic video, George! My wife and I watched it and are planning to share it with our children (ages 23, 19, and 15) very soon!

[@Alma-e3b]

I just love truly intelligent people, the ones with invaluable wisdom. Thank you professor!

[@cristiannaJ126]

This is a great episode. This guy is great!!

[@Sumart4u]

Luv how humor is in this talk great info..its just doing it thats challenging 4 me😢

[@Diashi1267]

9:58 the more likely explanation is that people who make more money tend to give more away not the other way around

[@MrSnoryMan]

Correlation is not causation. People who give more are already in financial privileges, it is not that once you start giving more you get rich

[@kristinegreen4474]

Thank you for the guest. Awesome knowledge. I am about research and learning. At 67, I gained knowledge and applied past knowledge. As I age, I can finally share my knowledge, and it feels awesome.

[@JustKillam]

I think id download the Ramsey app if this podcast was available on it, without the attention span diminishing edits.

[@RobWilliams007]

I think that the reason happiness tapers off with more and more money is that, for the most part, you have to work harder to earn more. This probably leaves you with less social time, time to workout, time to eat healthy, etc.

[@damtewmekke2659]

What is happiness and how do you measure it? is there a formula for happiness?and how much happiness is needed per person?

[@CreationBound]

So I agree with the basic principles laid down here, but I think there is some nuance to every situation. A year ago our family car of 280k+miles died and we eventually purchased a new wagoneer. We have a large family (5kids and a sixth on the way) and used vehicle prices were outrageous. Anything we could buy outright or a smaller loan would have been breaking down all the time and a money pit. We have a massive payment on the wagoneer but it has allowed our family to participate in things and travel to places and have some adventures as a family over the past year that an unreliable 150k+mile vehicle would not have allowed us to do. I actually enjoy making that massive payment every month knowing my family has a comfortable, reliable vehicle that we can take off exploring and camping and visiting family in on the weekends without me spending hours fixing and $$ on auto parts. I definitely agree there is wisdom being shared here but everyone’s situations and needs are different.

[@baileysullivan7028]

Incredibly well spoken. Loved this interview

[@nicodimus2222]

"If money can't buy happiness, I guess I'll have to rent it." - Weird Al Yankovic

[@CharlotteCarMoments]

Love Weird Al

[@desco7628]

😅

[@micbanand]

Shure go Leasy a Big Car 😆😆😆 it's cheaper LOL

[@rorybyrne2640]

Hey George great chat with a knowledgeable guest, I thoroughly enjoyed it except for one thing. The sound bites, you don’t need them.

[@BlackhawkPilot]

Car debt? I could pay cash but suddenly the car I wanted to replace my nine year old car was 0.99%. No brainer as my investment account is making 25%. Gave over $150K away last year. In this Go-Go market this is not a problem, even when the market goes down still helping others at the same rate is a happy feeling.

[@cousinjeb7116]

I don't have the words to explain how important I think this video is.

[@Isenseven1080]

Dont give money so much power. You don't need all these worthless disposable modern things. You're falling into the trap of being a consumer, making everyone else rich.

[@MrMockingbrd]

I actually enjoy commuting to work. Gives me time to mentally prepare and time to wind down.

[@nickstark8479]

Sounds to me like the choice for the "beach vacation" simply showed how necessary the couch was... Ended up buying it anyways, resulting in "spending twice" 😅

[@thefpvlife7785]

I do my own lawn for its physical activity. I’m in my 50s and it helps me so much.

[@HughMorristheJoker]

I pay someone to mow then I go pump iron during that time.

[@studentsofmoney2653]

George, just for the record I think this is the best video I’ve seen from a Ramsey personality in a while. I really enjoyed this insight and wisdom of this video.

[@GeorgeKamel]

Thanks so much. Means a lot

[@zo_471]

@@GeorgeKamelwhy was he wearing two watches?

[@jeffl7852]

Exceptional video relaxant for most cultures. Bright people working at brightening THE Path WE are all on.. And you know it!

[@BlankThisShow]

If he doesn't have any memories with his wife on that couch, he didn't do something right.

[@jesssc402]

His wife wouldnt be too thrilled to make any memories on that couch because they didnt go to the beach

[@Cutejazz1]

@@jesssc402😂😂

[@FreakyLynx]

He only had the one couch and it wasn’t the most expensive one.

[@racerx6]

😂😂😂😂

[@racerx6]

@@jesssc402😂😂

[@human1513]

Wow ! A professor that actually makes real world sense with many of the things he speaks of but not all of it. A rare occurrance. We all know PH'd stands for "Poor Helpless & Deperate" which describes 99.9% of those with a PH'd.

[@CAROTA251270]

I loved this episode. I learned so much. Thanks George for having the professor on this video.

[@nissangamba]

What a powerful conversation.

[@rutger8463]

KZbin gave me an advertisement for some Ford SUV while reading the comments about Ford Raptors. This algorithm is wild.

[@Shamele55]

What a positive and amazing person - made my day ❤

[@c5vette739]

There isn’t one template for happiness that applies to everyone. Everyone has their own path to happiness and it’s a particular allocation of the 5 things he mentions. For example, giving provides more happiness to some people, but then saving can bring just as much or more happiness to other people. This also applies to experiences and buying things.

[@davidlim5751]

you've outdone yourself george. this is cray good.

[@TropicalBeatDown]

Investing early wasn't even a concept when I was graduating high school 22 years ago, I had a financial advisor with money that I rarely contributed to, but its increase was 100% stagnant and flat due to their fees. Finally thanks to KZbin and amazing videos like this I woke up a bit and am pointed in the right direction. Boy I wish videos like this just existed when I was 16!

[@reneespring834]

Great interview George!! You should try to get Scott Galloway from NYU on. Same kind of vibe, reminds me of some of Dave’s quips about why adult males are still living in mom’s basement, etc.

[@ebishrimpy9366]

Heh, my husband and I have been married 5 years and we still dont have proper furniture in our apartment, but we have a ton of experiences together that we didn't skimp on the budget on ...I feel validated 😊

[@JudeDude409]

What if buying stuff helps to create experiences though?

[@mattdg1981]

Don't buy a boat.

[@richardkmendelson4004]

Great session George Especially love the part about the peace from paying off the mortgage and having no debts to anybody

[@andremiguel0]

Two years after buying my car I still love the smell when I get in and how it drives me and my family to everywhere we want to go. Totally worth all the eating out and vacation abroad budget. For some people, stuff is really more important than experiences, because you can have years of experiences with them.

[@getpaid.gohome4506]

Love you George!!!!!! ❤❤❤❤ good video!!!!!! More of this please. All my respect to Arthur Brooks!

[@TheDallasHomeGuide]

Great value here. Thank you

[@ashermitchell2794]

Best video so far, sincerely. This was a great discussion.

[@ArtzFenix]

Thank you for the awesome and hopeful interview.

[@sylviapitsi8060]

Loved this conversation ❤

[@StreetCars101TV]

No lie, i purchased a brand new dream race car with cash years ago that I have on this channel actually. It was my "dream car" that purchased from my 1st successful business as a reward. I sold it 2-3 years ago for profit but after a year it became a headache and another debt from the maintenance to track it. Anyway, I ended up starting a magazine and wished I didn't spend that money though I got some of it back. As happy as I was the best achievement I ever had was becoming debt free the 2nd time in my life before the car. Now i am about to accomplish it again all i can think about is the freedom

[@billjohnson7904]

What about spending all your money you don't have with your beloved's on booze, food, smokes, and gambling in Vegas? That is an experience you will never forget, or maybe not remember.

[@johnsonajayi7846]

Booze, smokes and gambling are happiness death, you will never be free, you will have worries in life. Be careful.

[@billjohnson7904]

@@johnsonajayi7846 don't knock it until you try it.

[@ThatoNtshingila-v3m]

Everything that he has said is true … when I had debt , no matter how much I made, I was always unhappy… the same with saving , the less I’d save the more anxious I become , the same with buying… the more I bought , the more unhappy I’d be . It was only when I began saving up to buy what I want that I truly became happy … the waiting period before you buy puts things into perseverance because you realize,” I don’t need to buy another jacket that has a faux fur collar”. It’s also exciting to buy things that are worthwhile without debt … my partner and I started our business through saving towards it … we bought our first land through saving … We hardly fight about silly things , we are more able to help our families… it’s just been pure bliss …

[@jadenkutz]

Great show. I’m saving this one to watch later