How Much Money Do Americans Need To Be Comfortable?

The average American says they need to earn $233,000 a year to be financially comfortable. But in 2021, American workers on average made only $75,203 annually. With well over half of Americans living paycheck to paycheck, many are struggling to meet some of their modest financial goals. 72% of Americans said they currently weren’t financial secure, and more than a quarter of Americans said they’ll likely never be. So how did it become so difficult to be financially secure in America and what can you do about it?
Chapters:
00:00 - Introduction
01:18 - Affordability
05:30 - Credit is expensive
09:06 - Solving financial security
Produced & Edited by: Juhohn Lee
Animation: Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Sources: Bureau of Labor Statistics, OECD, Fidelity, Redfin
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How Much Money Do Americans Need To Be Comfortable?

[@EthanBrown_23]

As a beginner, educate yourself: Learn the basics of investing and the stock market. There are many resources available online , including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research

[@ChristopherDavies_]

If you're in need of guidance, it's worth considering consulting a financial advisor. While self-management is possible, financial advisors bring a wealth of knowledge and expertise to the table.

[@JessicaThompson.]

The significance of advisors often goes unrecognized until emotions cloud judgment. I remember a couple of summers ago, during a challenging divorce, when I needed significant assistance to sustain my business. Turning to licensed advisors, I discovered someone highly qualified. Despite inflation, she played a crucial role in boosting my reserves from $275k to $850k.

[@champhallier8468]

Please who is this consultant ?

[@JessicaThompson.]

'Laurelyn Gross Pohlmeier' 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.

[@RobertBrown..]

I conducted an online search for her complete name and located her page. I sent an email and arranged a meeting with her; now, I wait in anticipation for her response.

[@michaellaw321]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@iamlaurenmoe]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilising a portfolio coach for more than two years, and I've made over $800,000

[@derrickholfman]

Mind if I ask you to recommend this particular coach you using their service?

[@iamlaurenmoe]

Vivian Carol Gioia, 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.

[@thomasbetts01]

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.

[@PelonMusk]

Start lower. Buy a cheap place.

[@PowerRuckelshaus]

In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $650K in under a year on a podcast. What's the strategy for such returns?

[@Mckennie61751]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@WestonScally7614]

My financial advisor has been a game-changer, providing clarity and boosting my confidence in navigating finance. With their help, I've achieved my goals faster than I imagined. Highly recommend!

[@SageMadsen]

Your advisor appears skilled. How can I contact them? I've recently sold property and aim to invest in stocks, seeking guidance.

[@WestonScally7614]

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@louis71350]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@user-uo8ci9xq4l]

I wish I had more time for experimentation, but I'll be 50 by June, and I'm looking for ideas and suggestions on what investments to acquire to set myself up for retirement, especially with the looming inflation; my goal is to have at least $5 million by the age of 65.

[@ZaylaDella-xh1gq]

Retiring at 60 with around 1.2 million in non-retirement funds, my debt-free status contrasts with the seemingly modest growth in my retirement accounts over the past three years. Emphasizing the crucial role of an investment advisor, thorough research is essential to find a trustworthy professional.

[@user-uo8ci9xq4l]

Could you share details about your financial advisor? I'm looking to improve my finances and exploring options would be valuable.

[@ZaylaDella-xh1gq]

Lisa Ann Moberly'' turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@user-uo8ci9xq4l]

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.

[@mein3324]

@@user-uo8ci9xq4l No she is fraud stay away from her

[@kamilareeder1493]

If rent prices were low enough for one to only pay 30% of income on housing, we'd all be doing much better

[@JoseFlores-xh5cj]

Rent prices have a lot to do with property tax, contractors cost, and consumer demand.

[@thatguy5801]

If a home was a basic right, a foundational block as it is for all other species and mammals on the planet, we'd have plenty of motivation and time to do more than just survive to pay off a house in which we spend our lives away to fill with things. We would actually contribute more to society instead of a mortgage that helps only a bank make the next quarter profitable, among all other companies who are in a cut-throat system of profitability for every-single-earnings, forever. Those constant higher earnings are the pressures placed on everyday people trying to also make their own little earnings. And now we see people are being stretched now by forces in which they don't see, nor control anymore. "The greatest form of control is where you think you're free. When you're being fundamentally manipulated and dictated to One form of dictatorship is being in a prison cell and you can see the bars and touch them. The other one is sitting in a prison cell but you can't see the bars, so you think you're free"

[@ericeandco]

If the government took less you could pay the rent.

[@ericeandco]

A home has never been a basic right for any species anytime in history.

[@aminuaidara8601]

And that can only happen if the government invest an build a lot of affordable government houses like most of the European countries but unfortunately they will prefer spending over 700 billion an more every year on their military and they still say it's one of the richest countries in the world

[@guarigonzalez9447]

I love how they are switching between average and medium income to hide the fact that most Americans are actually making around $50,000 (Before taxes) rather than around $75,000 (Before taxes)

[@jsebby2284]

They used the median for the budget later in the video though to be fair

[@SisyphusJP]

Flip flopping to obfuscate how bad the situation is. The government believes Main Street can handle these increases in cost clearly or they would not continue spending/printing.

[@dirtyDan5311]

You know whats even crazier everybody's taking 50,000 as the average when it's closer to 30 or less

[@jsebby2284]

@dirtyDan5311 the median is around 57,500 a year - so not really

[@SisyphusJP]

@@dirtyDan5311 I think there is a real risk of social unrest if they continue domestically which the United States has never truly had. We have enjoyed relatively peaceful time since the civil war domestically. That might change if entitlements don’t cover these inflationary increases, and as more Americans are priced out of living. Hope the government is aware and thinking about that.

[@rannyorton]

The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.

[@belljoe]

It's scary how true this message is

[@smithlenn]

The current situation is incredibly dire for people in the United States and other countries. The global economy is facing a significant downturn, with increasing inflation rates and unemployment figures........

[@Patriciacraig599]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.

[@rannyorton]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.

[@Patriciacraig599]

was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.

[@Sampson-jh7yq]

Although I am glad that I chose to keep money in the money market, I regret not having made any equity investments. I'm almost ready to enter the stock market as my $200k is almost mature. Could you suggest some stocks that a newbie wishing to gradually expand their cash should buy?

[@alicegomez7232]

Thinking about getting legal advice? Talking to a financial counselor is something you should consider. Financial advisors offer a depth of knowledge and competence, even though autonomous management is possible.

[@jose2212-]

You are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@DennisJack-km8ho]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch if you don't mind

[@jose2212-]

Monica Shawn Marti 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.

[@teresita2-]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@baronvonjo1929]

Yesterday I heard a guy say people are expecting food prices to go back down. Food will never go back down because the corporations have no reason to lower the prices. I started thinking about it and believe him

[@user-yc7nv2qx2n]

According to the Communist Party's statement, capitalists are more willing to make themselves the wealthiest by 0.01% without considering the poor.😂😂😂

[@claudiaroedel1368]

As long as food is treated as a commodity meant to provide profit every step of the ladder and not as an essential right of people prices won't come down.

[@SaltwaterRebellion]

Food and energy aren't even included while calculating inflation percentages, if it did it, inflation would be around 17% right now. The same thing happened in 2008, believe it or not, a box of macaroni and cheese or even a can of tuna would feed 4 people a meal now they're half the size. This is your new normal.

[@lolalalia4119]

@@SaltwaterRebellion and have you noticed how the cans of tuna now how more water and less meat in them? They do this thinking we're too dumb to notice.

[@ricardodelacrvz1400]

they will have to come down due to competition. people are spending more time and attention right now looking at prices.

[@mumwifeteacher]

College, health insurance and retirement savings are the new luxury items

[@ajr993]

College should be a luxury item or you should pay for it. It used to be an immense luxury, and now for some reason it's an expectation

[@Striker50_]

Why doesnt anyone mention community colleges?

[@positiveb6572]

@@Striker50_ I don’t think community colleges exist anymore more. We’ll definitely not in my area.

[@Machenziethemodel]

@@Striker50_because 2 year college degrees don’t mean anything.

[@Mandelbomb]

Cars soon enough too.

[@Patriciacraig599]

The average retiree, I believe, should have been able to have enough to last the rest of his days. I t just depends on choices during your working days, just as I came to realize later. Surprising how I still netted more $2m. by retirement. And this is while living in New York!

[@Robertgriffinne]

New York is sure as hell an expensive place to live in. Were you affiliated to Wall Street? Because how could you net such a huge amount?

[@PhilipMurray251]

I don't think he was. I think he had good savings habit from early in life. Which is a habit i shared until a friend introduced me to the stock market, I was intrigued. This was just 15 years to retirement, and I had only $280k to my name and no idea on what equities to acquire until i got referred to a Smart- Advisor recommended Advisor who helped me allocate to the right positions and i'm just 15% short my $1m retirement goal

[@Robertgriffinne]

That's incredible. What did you invest in ? I'm really interested in this, because I'm in a similar position at the moment.

[@PhilipMurray251]

She goes by 'Julia Hope Marble ''. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finance, but so glad I did!!

[@Alejandracamacho357]

out of curiosity i looked Julia up and she seem so proficient, i pray she'll be able to help me attain financial freedom

[@PatrickLloyd-]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@Dannyholt33]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@PhilipDunk]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@hankmarks69]

@@PhilipDunk this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@PhilipDunk]

My financial advisor is “Vivian Carol Gioia” I found her on a CNBC interview where she was featured and I reached out to her afterwards via her website

[@hankmarks69]

@@PhilipDunk Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@pattheegreat]

They bring out these kind of videos to make us realize where we belong. Not too long ago when people started quitting the job market, it was a wake up call to all these people what we are able to do. They have created this environment to squeeze out the last penny from our savings and to show us our position in the society - as their slaves!

[@evilds3261]

A leader is not worth following if you receive nothing in return.

[@milanobus]

"trickle down" economics.

[@aured1310]

"Tinkle on" economics.

[@curtiseisenbeis2484]

I will also agree completely with this!

[@angloblaxon]

We were squeezed because of all the money printing during covid, bank bailouts, federal waste, federal interest due to debt, etc. We are now out of the easy money environment. Focus on yourself, get more educated, change jobs, move to cheaper places, save money. If you don't move and change... you will drown.

[@JWats-ux1qk]

It is absolutely insane that rent is more expensive than a mortgage in most places. Rent, in practice, is supposed to be a FRACTION of the cost of a mortgage so that you are able to save up to take out a loan to buy a house. This is absolutely insane.

[@meatballhead15]

All through my adult life rent has been higher than mortgages. I've also seen countless people online share stories like "The bank said I couldn't afford a $1,500/mo mortgage so I get to pay a $3,000/mo rent!"

[@stephenc2481]

@@meatballhead15 .... bank look into ability to pay and other factors, like credit scores.

[@suen5006]

Keep in mind these averages include not only new purchases but also people who may be in the 20th year of their mortgage, which is likely much lower. So it's deceptively low because rents have been rising much faster than inflation in general.

[@omstout]

All to those that establish property taxes and insurance requirements.

[@MusouInken]

The purpose of a rental unit is to make the landlord money, not to allow the tenant to save. (I'm not saying this is a good thing, just that it is what it is.) The floor of a rental's price is all of the owner's expenses - mortgage payments, insurance, any provided utilities, etc., along with an amount set aside for any expected or unexpected repairs. The ceiling is however much they can get away with charging while still attracting tenants. In practice, if you rent a house or an apartment you will always be paying more than it would cost to own that house or apartment. Sometimes substantially more. That said, you do at least have more flexibility. You can move much more easily than someone who owns a home, and that can be good if moving allows you to pursue career opportunities.

[@Help_me_understand]

Not to mention we are a society of mass consumers. Christmas doesn’t have to be about presents but it is- holiday decor for every holiday, gadgets, fashion trends, entertainment, the list goes on and on.

[@CrazyKazy]

Small and local folks!

[@whatdoyoumeantheresnocoffe9141]

Yep! 😒

[@macadoo2530]

Dont buy Anything! Watch how fast things change.

[@K13ZONGZ]

Stop printing money

[@FingersKungfu]

I live in Thailand. And while my income is only around $3k a month. The cost of living here is rather low and my expense is only around $600 a month (including health insurance). That leaves me $2.4k saving for each month or close to $29k a year. I also own my own properties. I can’t imagine doing that in America.

[@shaydesofblue2281]

Nice!

[@SecretSquirrel-gp7kz]

Congrats! Expating is def a fantasy

[@Novastar.SaberCombat]

That'd be impossible in the "Ununited Shites of Unbearablica". If you ain't rich, you ain't sheet.

[@ankitdubey-ov7mx]

What job you do

[@I-hate-sundays]

@@Novastar.SaberCombatcope

[@gold9994]

If rent is just 30% cheaper, many would be comfortable.

[@doaldox]

Good luck with that... everytime I renew my rent contract they want more... a lot more

[@mariusfacktor3597]

We need to build much more housing in our most important cities. The housing shortage is rent-burdening millions of people and it's all policy induced.

[@chewser117]

Just having affordable healthcare/insurance would go far too. Having your health tied to your career is such a ridiculous concept. I've had so many opportunities to take on contract work and make more money to live a more comfortable lifestyle, but passed on them because I would go from free healthcare from a government job to having to fork over a $1000/month for the same level of coverage... it's insane.

[@handleyobusiness]

I moved from my $1220 apartment to a $925 unit and got 30% cheaper rent. Find a new complex if you want to pay less rent, because you’ll never negotiate a lower price if you remain in the same complex.

[@ahmedzakikhan7639]

​@@handleyobusinessI pay 3000 for studio.

[@jeffreyjackson5229]

The only thing that this video did for me was to reinforce my appreciation for being single, no kids, that I have few worldly cares, and few worldly possessions.

[@PHlophe]

Jeff, hang in there. i moved to Kenya , worked remote just to save a bit of money and so far i can handle the brutal tropical heat . it took some serious getting used to . i decided to move out of the big cities because even in the african continent . property rental , amenities etc..

[@jeffreyjackson5229]

@@PHlophe thank you and you as well 💪

[@cherylT321]

Ditto!

[@stevenphillips3466]

Yes, NEVER EVER get married if you are a Male in todays society....Women Divorce you and take everything and the children , all you are is a Paycheck and wallet . Marriage Benefits a Man NOTHING in todays society. Marriage is a Suckers game in this country . I advise every young man to avoid it entirely , only men Lose in marriage ....

[@T.S.000]

"A path to true happiness is not about the more things that you have, but rather the less things that you want." I have learned about this passage many years ago, but never really paid attention to it. But for the past decade, I have been living a simple and frugal life; and mentally, I am much happier now than in the past, when I owned a whole bunch of craps that I didn't need.

[@412StepUp]

Lets be honest. The average wage is skewed due to the super rich. Most people out here are trying to make it on 30k, 40k, 50k. I don’t consider before taxes to even be a real number. I base my pay on what actual amount my checks are.

[@theonlyconformist]

They used the median, not the mean. That said, I'm pretty sure this is household income. So you're averaging in couples that cohabitate, apartments/houses with roommates, and single people that live alone. It doesn't mean that the average individual makes $75k. Their wording is confusing, but I looked it up and yes, household income is $75k.

[@gphysco]

Sad to say my aunt in her mid 60s won’t retire into probably close to 70s and that’s if things change for the better. I’m still living with one of my parents and I’m 23 after trying to live on my own I see now how hard it is out there. Not ashamed to admit I’m living again with my parent.

[@robertcampbell5485]

Looser , go find a trade job all of them are hiring.

[@mob4336]

What’s going on is awful. So many people are living pay check to pay check. Inflation is at its all time high , more taxes taken out of paychecks , gas prices went up double .

[@robertcampbell5485]

You gonna keep crying about it, or do something about it? Lazy people live in one of the best countries on the face of the earth and can't make money. Immigrants from other countries come here and make bank because they work...hard.@@mob4336

[@DreaminBig]

Save your money though. Otherwise you’re simply doing it wrong

[@MukoroJr]

Im 40 and live with my parents…who you telling😅

[@Aubue]

Rising costs, insufficient savings, and economic pressures are taking a toll on people's sense of security. It's time for a serious conversation about financial well-being and finding solutions that work for everyone, not just a fortunate few.

[@zuzanazuscinova5209]

There is no solution otherwise than becoming very rich somehow

[@brotherbig4651]

Invest in Bitcoin! This is the time!

[@Mr.Free2Play]

But Bidenomics is is sooooo amazing! That's nonsense you're talking. Insert sarcasm.

[@Donkeyearsa]

There is and its been around for thousands of years. Create a budget and then follow it.

[@WoJackMan]

​@@DonkeyearsaExactly! Have these people even considered living in a cardboard box instead of a fancy schmancy studio apartment? Think of the tremendous savings once you remove luxuries like housing out of the way. Those that have tried this, realized there's enough money in the budget to pay for half a month's supply of insulin!

[@TheTferrer]

I live from paycheck to credit card to paycheck and so on. I do not have any debts, all vehicles are paid off, I do not carry balances beyond 14 days, and I do not buy what is not needed. Just spend on basics like food, water, electricity, and rent. I live a humble and simple life - still, I cannot make it financially.

[@jordanneedscoffee]

What do you earn, where do you live, and do you have a spouse or roommate? Key questions to solving this problem.

[@CrazyKazy]

The American dream

[@Egh0127]

@@jordanneedscoffee???? He said what he said

[@Not_yourMOM]

@@Egh0127is it mathing for you 👀????

[@Im-Tired..]

@@CrazyKazyand illegals are literally getting a whole new life paid for by us it makes me more than angry

[@woohunter1]

Me and my wife live well within our means, we don’t have a huge house, we don’t drive luxury cars, and we don’t go on lavish vacations. I think one of the biggest problems is people trying to out do each other.

[@guitardude0909]

Yes I agree. My wife and I don't even own a home but we are diligent and are able to live on one income and save the rest. But it took hard work to get there. Being financially literate has paid off overtime and once we understood the system we are able to finesse it to work for out advantage

[@Bloodsport1]

NO that is not the problem. The high rent, inflation, buying a house. In the 70's,80's, you could afford to buy a home at the age of 23..

[@danielblake347]

The Indians did well.... didn't complain as much as we do ..

[@unc1221]

@@danielblake347***Natives. Of course, they actually had morals and sense of spirituality unlike the descendants of Portugal who came over here with Covid and 🍇.

[@TimGreen-co3vp]

Are you aware that mortgage rates in the 1980s was about 18%? In fairness, college education was a reasonable price because if it was too high, people just didn't go. We also now live in a society where we have more "needs" that we pay for than we used to- cell phones (used to be one phone bill for the whole house regardless of the number of phones in the house), internet, cable, etc. @@Bloodsport1

[@Duke_Dickinson]

I don't think I've ever broken 35k a year. Any job that pays more than this is highly impacted and the employers annoyingly picky. This has always been the case no matter what they tell you about unemployment numbers.

[@LiquidChamploo]

I’m 28 years old living in Orlando FL. There was a time when I thought making 60k a year would make me comfortable. Jokes on me, even as a single man I can’t see myself retiring with comfort at this pace. I’ve cut down on so much to contribute to savings, praying that when I buy my freedom I’m still in decent health to enjoy the rest of my life. My financial grammar isn’t up there.. (IT Guy) but sometimes I feel like I’m just working towards my own funeral, which is another expense.

[@faustinreeder1075]

Great post!

[@aaronpoisson]

That’s how 99% of us feel. We’re not the 1% that control the money that influences politicians to always create policy to benefit… the wealthy. I’m close to 6 figures and even if I hit that, it’s still not enough.

[@ChronoShinta]

It by design, if everyone able to buy their freedom and have everything like the rich, then there will be less workers for the rich. We are the slaves of society and the rich will keep us down like this so they can enjoy their money through our work. Like a bee hive, you cannot have two queens, it need to keep every other bees as a drone to work under her.

[@mikinaakandersen1189]

I love, "when I buy my freedom". That hits so hard right now, it is how I feel, trying to figure out how to make enough to have a little freedom in life. All I do is work and sleep.

[@nachc6459]

Yup liberals did this.

[@dtr579]

I lost my job of 30 years and it took 18 Months to find another job. The thing that saved our family was having a large emergency fund. We didn't miss a bill payment or go into debt. We actually kept our same lifestyle of eating out, traveling a little and etc. My suggestion is, save as much as you can when times are good and don't touch it, because when times go bad you will be able to continue on without worrying yourself sick or going into deep debt.

[@Sadreath]

Not changing your lifestyle at all sounds kinda dumb if you don't know when you will actually be in a job again. Sooner or later you will run out of money or have to touch retirement so cutting back is the first thing one should do when losing their job.

[@dtr579]

@@Sadreath I see what your saying, but with my experience in a well known field, I knew I can get a job, but I was looking for a specific job that paid me $100K or more. It takes time. It's not like getting a job that pays $9 to $20 dollars an hour. They're not like handing out $100K jobs like cupcakes. The reason I didn't change our family's lifestyle is because we prepared for bad times by saving money in good times. We had $175K cash to live on and our only debt is our mortgage, utilities, food and gas. Cars paid for, no credit card debt or loans. We're in our 50s and have learned to keep debt really low and always be saving. Our black parents never taught us how to manage money. We learned by mistakes, lot's of debt when younger and growing more mature and recognizing we got to get right with our finances. We have never dipped into our 401K, IRA accounts.

[@Sadreath]

@@dtr579 I fundamentally disagree but in the end it is your personal choice I guess

[@a7x8f3]

@@dtr579 sounds like you guys had a solid gameplan all along! Also it's not like you could have cut back all that much anyways. Your family clearly developed good spending habits and no debt to hold you down while trying to focus on that next 6 figure income. It's stressful enough to prepare and interview for those high-paying jobs as it is.

[@dtr579]

@@a7x8f3 You must know because that is the truth. Interviewing is so much different today than it was 35 years ago. They screen you first, then make you take hours long test to see if you're a right fit for their company, then 6 Interviews with a sleuth of department heads and managers. But I appreciate your kind words. I just try and share how we weathered the bad times. It's at least something to think about.

[@oyedeporaphael-dn7ig]

For average American to survive,I think will all need to find alternative means, imagine working for 40yrs to have $1m in your retirement, while some people are putting just $10k in a meme coin for just few months and become multi millionaires. if you don't invest, you're missing out on opportunities to increase your financial worth.

[@josephvalentine-dk6mq]

Absolutely right,Money invested is much more better than money saved, when you invest, it gives you the opportunities to increase your financial worth.

[@alonsohernandez-nb5xq]

Exactly,The key to financial freedom and wealth is someone ability to convert earned income into massive profit to build generational wealth.

[@parkerrosemary-it4kr]

​@@alonsohernandez-nb5xqYou are right to be wealthy you have to trade, earn and live your life as you please, Don't say tomorrow when you can do it now. Don't continue watching others earn when you can.

[@idownadesanya-bw9px]

​@@alonsohernandez-nb5xqI'm with you the best way to build massive wealth for the next generation is to consistently invest in business and guard them grow

[@paulmary-zv9se]

​@@idownadesanya-bw9pxabsolutely right,many people are really ignorant of the massive income in investment and that has been the major reason limiting their trading.

[@itsrelativ3967]

I tried working 2 jobs and the only way to do it was working overnight with 4 hours free in-between after getting off from my day job to rest before heading into the 2nd job. Going back to college at 36 is 90% impossible (even taking classes remotely). Bills don't stop and they increase every 3 to 6 months.

[@mastercreamer1398]

Keep searching, you’ll figure it out. There is a way!

[@simplydivine77]

Welding, electrician, HVAC, plumber, pipe fitter, process technology, maritime verifications take less time than college and pay extremely high. You maybe to move (like to Houston) where there are mad jobs in these afield due to the Port of Houston being the busiest and wealthiest in the country. Good luck.

[@itsrelativ3967]

I make a decent living and can afford life's neccessities with a small emergency fund. The issue is being thrown off when increased bills and inflation disrupts what I've already worked hard for and my income stays the same. I just don't think a formal college education is useful for me anymore. After getting my associates fatherhood and life happened. I should to go into the trades since I'm getting burned out having to meet unrealistic quotas in technical sales for Verizon.

[@mastercreamer1398]

@@simplydivine77 people have been migrating away from hard work forever. People will say they just can’t make it but when it comes down to it, they are just not willing to. People go to the gym to work out and pay for it when you could get the same work out roofing for the day or whatever and get paid at the same time. They are just flat out lazy and there is no fixing that my friend.

[@MrBlaze256]

i dont really have any bills. paid 24k cash for my house and 4 acres. right now a trailer and acre is for sale for 13k beside me

[@catdragon2584]

Money may not buy happiness, but it sure does buy stability 🙃

[@pishachas]

@@anthonymercado8126too bad no one will build me a car for my 40 hens 😭😭😭

[@bokchoy9632]

Money can buy happiness but what you are pointing out is true happiness which can be only found in Jesus Christ. We need to worry about where we go after death, heaven or hell eternal happiness or eternal suffering sadness

[@DC-qn4wz]

Financial stability leads to much less stress and therefore happiness!

[@manuelmanuel3968]

​@@anthonymercado8126it's not sustainable anymore in the day and age.

[@righteousone1]

Money does buy happiness. Give a poor person a $1K and see how they react.

[@Hunty49]

Schools are not designed to teach you how to live. They are designed to teach you what you need to be a good worker. Your parents need to teach you budgeting, money use and financial aspects. The problem is that a lot of parents don't know these things themselves.

[@marenwilliams2787]

So agree!!

[@jasonae38]

because they were not taught in school too. lol . only top1% enjoy decent education, then their kids get much more decent education from schools and from their families.

[@1pearblossom]

The system was created by the elite to serve the elite. Education is used to endoctrinate and keep everyone in their lane. Not much has changed since the 1700's and absolute monarchies. It's just that it is packaged differently.

[@f50elite]

Schools can definitely be designed to fill that gap though. Very easy to either alter a curriculum slightly or add a required course. I actually would trust that more than I'd trust the quality of information some kids are getting from their parents.. Also, not sure what "good worker" means to you. I see plenty of co workers at my job who went through 16 years of schooling, and they are not what I'd call "good workers"

[@luiscontreras5500]

Amen to that. That knowledge is important in planning out your future. However, wages have not kept up with the increase in expenses. I had a nice cushion saved up, partner ended up becoming disabled, and I had to take care of the household by myself. Burned through my savings, sold their car, moved into a 1 bedroom apt, racked up some debt, and picked up a second job to make sure we don’t end up in the streets. I’m thankful for some grants that my partner has been able to get to assist. We used the backpay of disability to pay off some of the debt, but I’m burning myself out and feeling helpless. My partner was a hard worker, but they are unable to work. If I leave them, they will be out in the streets and I’m not about to turn my back on them, but I can’t help but feel I’m stuck in a helpless situation due to financial concerns. I even thought about moving us in to my car to save on some of these expenses. I’m fiscally responsible, I’m trying so hard not to pull out of my retirement money, but that may be the next option if things continue to rise. After that, not sure what will happen. I make $75k a year on one job and about $30k on the other. I’m trying to find a better paying job to fix this situation, but it’s been quite difficult.

[@Temporarily2ndbestss]

I make about 25k a year, definitely in the lower class. But I'm rather young. I hope I can turn that around.

[@danielquinn9817]

If you vote blue , you destroy capitalism , ensuring you never gain wealth in America .That’s your generations problem … understanding what you’re voting for . And the consequences . The blue are for socialism , under socialism you will always be poor . Sorry … vote red … doesn’t have to be trump , vote red if yoh like money .

[@Temporarily2ndbestss]

@@StudioCityCa I can

[@nusuralove4407]

@@Temporarily2ndbestssYes you can 🙌🏾 Best of Luck 🙏🏾

[@x.Magic.x]

@@Temporarily2ndbestssyou can do anything you put your mind to. I’m 23 and don’t even make that. But I believe in myself.

[@jdlang00]

Just work on trying to generate passive income. Time is your most valuable asset, especially since you are young. Don’t listen to the doubters

[@yung1448]

I am fortunate I made productive decisions about my finances that changed my life forever. I'm a single parent living in Bn Italy, bought my second house in April and hoping to retire next year at 50 if things keep going smoothly for me.

[@Elizabethgreen779]

You're really doing well for yourself, I'm 46 and my financiaI life is in a mess. Any great tips would really go a long way in shaping my life.

[@yung1448]

Never neglect your finances, for lncome will remain stable while expenditures rise. The rich always acquire fortune cause they seek the aid of finance-pro(s) to make their goals a reality

[@yung1448]

I obtained massive growth in my finance by varying into exclusive packages with the aid of my finance-pro. hereby making my financiaI goals a reality.

[@yung1448]

sear ch the fuII name below, lf you care.

[@yung1448]

Rebecca Martin Watson

[@cossackgirl_ZP]

College wise: go to cheap colleges. There are some colleges that cost $2000-3000 per semester or less. Go there. Work during summer break. Work part time during your college. Dont take out student loans. Graduate with no debt, with skills. Thats what I did, zero regrets. Even if its a religious uni or college - just ignore the religious stuff, its worth it. Weddings: huge expense you dont need. Its just one day meant to celebrate your big life event - no need for fancy food, location - and all the crap you pay for, so that your guests are entertained. Make it easy on your wallet and yourself - less planning. Why make yourself miserable for weeks ahead of wedding for one day, day during which you will be so tired, you wont remember/enjoy most of it. I used to be a wedding photographer & videographer, and every single couple told me - they didnt remember what happened, that it was all a blur and that they were happy they could watch the video to see all that happened. Thats how stressed and tired they were. I married in courthouse - best decision ever! Very special and intimate. No regrets. No debt, no spending. Rings: another big money saver - dont save up for a ring. Dont request an expensive ring - whats the point? Is it a symbol of love or is it a used car on your finger? And guess what, rings do not resell well, at all. If you buy a $5K ring, you’ll be lucky to find someone who buys it used from you for $1K. Dont waste your money. Stay true to you. Do what actually makes YOU happy. Not what makes you look happy. Dont buy the illusions. Buy small house. You dont need the classic huge American house. For what? To store stuff? Life is short. Buy only what you truly need and what makes you happy, for real. Dont buy into capitalist bs. You dont need 15 decorative pillows on your bed. Or buy a house and rent a spare room(s) in it to help you pay mortgage. Buy an older used car thats reliable. With cash. Buying an older Toyota saved me thousands in repairs. No car loan. 5 years on a 14 year old car, and still not a single repair. If you can - find a remote job, save on transportation and lunch expenses (cook at home) Only buy things you need rn, or about to use, dont buy things “in advance” When your paycheck increases - do not increase your spending, keep it the same. Try to avoid any loans and debt like a plague.

[@purpleheartproductionspurp5916]

Very well said. That is great advice for those willing to listen.

[@handleyobusiness]

Fantastic solid advice.

[@deyoungyoung3059]

This comment made my day. I’m surprised it doesn’t have enough likes?

[@michaelcooreman3509]

@@deyoungyoung3059 Because their is more in life then working hard and saving money...

[@Collinsv8]

Solid advice and good comment.

[@Randomcharacters_]

When will these “experts” admit that at some point you can’t budget yourself out of poverty.

[@kingphilwill]

No one is saying if all you do is budget you will get out of poverty...it's only 1 step in many that must be taken...to get out.

[@RWald8888]

Great point poverty doesn't allow you to budget or save.

[@cykelmand]

My thought exactly. It’s insulting. Their “solution” is basically for us to acknowledge that we’re broke and deal with it. People need to be getting paid significantly more… that’s the obvious solution.

[@kimkaragiannis848]

​@@cykelmandExactly! And I will NOT be gaslighted into believing any different!!! Smh!!!

[@kimkaragiannis848]

I agree!!!

[@douglaschester2097]

*Let's talk about success:* Firstly the journey won’t be easy, embrace persistence, patience and perseverance. Outline your goal and pull your efforts together to attain that goal. I had a fair share of struggles before diving into crypto last year. And let me tell you, it completely changed my life! So don't lose hope, my friend.

[@getitbig9142]

That’s a great motivation! I thought about crypt0 but unsure of it. I currently make $64k/yr. No investment and I need to do something quick. What can I do?

[@douglaschester2097]

Spot on. The market presents a lot of opportunities to create passive income, with the right skill and proper understanding. Whether you’re not sure about what to invest in, or you don’t have time to manage your assets, just make sure to consult an advisor. Good luck!

[@tylerblackwood4665]

I’m very much aware of the great benefits of working with a pro but I haven't found one for myself.

[@douglaschester2097]

I get you! Finding the right pro can be challenging. I partner with *OLIVIA CHARLOTTE OSWALD.* I found her on the CBNC interview, looked her up and we began our awesome partnership. The rest of her info is there for you to reach out.

[@Mikael00898]

Cryptos and real estate crowdfunding are awesome lnvestment options! It's great that you're growing with Olivia.

[@BeatriceChloe1]

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.

[@bernadofelix]

The United States as we know it is no more. All signs point to 2023 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.

[@hersdera]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

[@hersdera]

There are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. Margaret Johnson Arndt, a well-known professional in her field who you may be familiar with, is none other than my advisor.

[@littleengine6121]

Sounds like a not-entirely-true exchange to promote a possibly questionable service. Don’t trust strangers for financial referrals. Look to people you know and trust for recommendations on financial advisors.

[@sketch2013e]

@@littleengine6121yeah, this is a pretty common scam going around

[@jrm2383]

Sure you did 😂

[@414ruckuslifeMKE]

I've been living in the same place for over 5 years. When I moved in all I needed to make to afford rent, utilities, gas in my car, food, etc plus have extra to save was about $14 per hour. Now today in 2023 I actually have LESS expenses to pay because I've had to get rid of everything that isn't essential, but I would still need to make $18 per hour just to scrape by with nothing leftover to save. My landlord owns hundreds of single family homes and apartment buildings but says he can't afford not to keep raising rents. These landlords are full of S.... and what do jobs around here pay? Less than $15 for most of them. At my last job the owner bragged all through covid about how we had record breaking profits and doubled our customer base... but they cant afford to give us a raise. Instead they turned it into a revolving door of hiring and firing all day long so they only have to pay people $15 per hour.

[@somindlesssmedia]

man I moved in 2015 to LA (cali already high) literally EVERY YEAR rents have gone up across the board while our minimum wage in cali will rise maybe a dollar a year to where it's sitting at about $16 but yet rent on average is about 2000 food and gas etc so everyone is hustling or moving to the desert areas just to have a home smh crazy

[@IamAWESOME3980]

Making $62.5 an hour as a software engineer in Seattle. Life is pretty comfortable for me. Employers do not pay based on how much you need to survive. They pay based on how much they can spend to replace you. For engineers like me, they need to spend like 1.5 the annual salary of a software engineer just to recruit a new one.

[@matthewsuleski6565]

That's real talk right there

[@bartdoo5757]

@@somindlesssmedia I live in Kentucky and make almost $25 an hour. You can live comfortably on $20 here.

[@analyticalchick3064]

Where the hell do you live? I live in Idaho and jobs mostly pay about $16 an hour. I have 4 part time jobs. My hourly rates are: $12.50, $16, $18 and $25. Each serves a different purpose for my finances and career. My husband has one job making 22 an hour, 33 an hour for overtime. He works anywhere from 30 to 56 hours a week. The thing about our area is that jobs are easy to get June to August everyone is hiring, but it is incredibly slow January to April to where there is NOTHING that time of year. I worked like 2 days a week January to April of this past year. This is my second year here so we will see if I do better this year.

[@leytonevans8332]

A online job at US minimum wage will pay you enough to live very well in many countries. Not a solution but a great option for adventurous souls. Same thing with retirement. The average SS payment gives you a Waterview condo in Thailand with quality and inexpensive Healthcare. I know it doesn't work for everyone, but it beats living in section 8 housing and eating at soup kitchens.

[@dy2str33t-king5]

The fact they think inflation is coming down is wild. Costs of goods and services is up 50-75% in most places, interest rates are through the roof, bills have doubled, and yet pay has increased 10-15% max in MOST areas......how does that balance out? Then they think if we just do a better job at budgeting we can improve our lives......no matter HOW i budget. $3300 doesn't cover $4500 in costs per month. $3300 used to cost me $3000 and that's with ALL my extras. So where does the extra money I need come from now? I already don't eat out anymore, don't go spend money on things I want, can't afford to pay extra on credit cards, house or car payments. Like, what do we do? I'm not selling a newer car to get a beater that might or might not run. Dependability costs money. Should I sell my house and get a smaller one? Can't cause interest rates have made that IMPOSSIBLE. So it's lose everything and file bankruptcy OR wages need to increase the massive jump in cost of living. Why should I lose my life and family over corporate greed? Unfair......

[@cindymartin6665]

Right. I am trying to figure out HOW the economy is doing well. 80% of Americans are struggling but some people are saying the economy is doing great,income is up,unemployment is low (yeah no sh!t ppl need 2,3 jobs to try to live) I must be slow or something because I can't figure out how we are doing better than ever.

[@user-gv2eq2cw9m]

I love how this video goes from the problem being societal to “we need to own our financial responsibility and set goals” 🤪

[@jsebby2284]

I mean...... we kinda do though

[@user-gv2eq2cw9m]

@@jsebby2284 Oh for sure! It’s just that if millions are struggling to makes ends meet, then we’ll need more than just good financial goals 😅

[@jsebby2284]

@user-gv2eq2cw9m I guess the big question there is if they're actually struggling to make ends meet - or just wasting money/making bad choices? There are absolutely people at the bottom who just don't make enough and are struggling and need more than just good financial responsibility - I'm not trying to say there aren't. Just want to make that clear haha But we seem to group the bad financial responsibility people with the actual can't make ends meet people - and then qualify the entire group as "can't make ends meet people" to inflate the number of people that are actually struggling through no fault of their own. If that makes sense haha. Like the paycheck to paycheck or emergency saving statistics that everyone loves to throw around for example

[@expDNA]

We just need to reduce spending and crash the economy. That's what they want.

[@avapilsen]

​@@jsebby2284If most of the country is struggling, individuals are not the problem....

[@helenoliver4838]

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.

[@rhondaeggers110]

It is not always fear. Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value.

[@helenoliver4838]

@@rhondaeggers110 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant BRIDGET MARY TUROW and everything changed. I started enjoying huge returns from my investment.

[@rhondaeggers110]

@@helenoliver4838 Really? Well, I used to have a professional but his license was withdrawn along the line, so I continued on my own. Anyway, how can I reach your adviser or someone as good?

[@jeremybowen-ot9ww]

The best thing that has happened in my life is working with BRIDGET MARY TUROW. I haven't just attained financial freedom, I have gained a lot of power in the knowledge I have acquired from her. She is highly recommended.

[@helenoliver4838]

Lookup her name on the web

[@bearrybrandon]

I love how it is “on the household level” aka personal responsibility, you can’t personal responsibility yourself into a raise of 10-15%, and feel stable……

[@jsebby2284]

That's because it is on personal responsibility for an extremely large amount of people

[@AnDongying]

Each of us has our own responsibilities, and I hope that everyone can obtain more wealth so that their families can live a better life.

[@petercha3387]

Thank you for your advice. I will surely take it into consideration as I’m facing my new frontier of homelessness. Budget and pay off more from the resources I don’t have. Got it.

[@allyc4t39]

I am a nurse working the ER of a major non profit hospital. My healthcare premium is 650 a month for my family of 3. And I still can’t get a specialty appointment until 6 months from now anyways. Just let that sink in.

[@americandissident9062]

ER nurse here. My premium is $750, and my copay to use the ER is $500. I can’t afford to use the ER I work in.

[@af3893]

Meanwhile, in Canada your taxes cover the majority of your medical expenses 😮‍💨 I'm ready to hop the border. Thanks for your nursing service ❤️

[@americandissident9062]

@@af3893 Pretty easy to pay for your citizen’s healthcare when the US is footing the bill for your national defense.

[@af3893]

@@americandissident9062 lol I think you're confused, sit down... read a book maybe 🤔

[@Lariocean00]

Insurance went up from last year with worse coverage we went from $700 a month to $850 a month we are both 27 and healthy btw husband and I 💀

[@louislogan2963]

Now with the recent economy, to be financial FREEDOM you have to be making money while you are asleep

[@beth8626]

best investment one can do right now is investing on the stocks trading though forex are good but ever since I swapped to stocks I've seen so much difference in my finance

[@stephaniejogie2183]

Wht ar opportunities there in the market and how do I profit from it?

[@emilyfreddie2420]

One point to clarify this, the wealthy do save up enough to buy their next assets. They do not save as a means of building wealth or as a retirement strategy

[@yosoy2480]

VENTURING, into the trading world without the help of a PROFESSIONAL, trader and expecting profit is like turning water into wine you would need a miracle, that's why i trade with Cora James her skills set exceptional

[@kegaliwkesi2772]

You invest with Ms Cora too? Wow that woman has been a blessing to me and my family.

[@rosecapone2889]

I work in a grocery store and make close to 30$ hour and 40$ hour on Sundays, have 401k that my company puts in 10% of my gross income yearly and I contribute 6% every paycheck, I give myself about 10 more years hopefully to retire in my 60s. And I became debt free!! So I’m hopeful that in 10 years we’ll be in a better financial place.

[@samraduns7756]

A grocery store that pays $30-$40 an hour is amazing

[@edmanetka9972]

Where is that store 😂 40 bucks?? Don’t bulshit people

[@Uriah625]

@@edmanetka9972Costco

[@BarbaraJunieJones]

gotta be trader joe’s

[@Briguy288]

The problem is that the average person cannot pass on their expenses/costs to someone else. Businesses, especially the large ones, are able to. "Oh, you want us to raise your wages? That's okay, we'll just pass on the cost back to you by increasing the price of what we sell." So the amount of money that's circulating in our economy, just keeps shifting towards the big businesses. NYC is about to implement a congestion toll for going into Manhattan. This will increase cost for truck driver's that deliver goods to businesses in Manhattan. Guess what? Those truck companies will pass on the cost to the businesses in Manhattan, and then they will in turn pass that cost onto the consumer. The only way to fix this issue is to have some sort of limit to that work around.

[@Z3R0SAMA]

I keep trying to tell people that saving is not possible these days and I keep getting told "stop spending your money on stupid things"......if stupid things mean rent and bills and food then I guess I'm stupid.

[@jsebby2284]

I mean..... They're kinda right though

[@karolinakartagena4627]

Think about ways you can really save: go to food pantries for food (free), seek housing financial help- do this for a full year and save the 100-300 each month every month. Create a second or part time hussle (resale, cut yards, flip furniture, Etsy , etc)

[@donaldlyons17]

@@karolinakartagena4627 If you have to save by depending on others the problem should be obvious!!!!!! People are trying to find solutions themselves...... not go the the state and feds and get them to pay for stuff wtf if we could all get stuff for free or cheap why bother with stimulus checks.

[@pensacola321]

The level of income and wealth inequality is phenomenal. Sad.

[@Novastar.SaberCombat]

Rich gotta rich. Poor gotta serve. "Stay in your lane" is the message.

[@erickn7985]

​@@Novastar.SaberCombatNah bro it's hard work and not committing crimes. Hitting the books or trades is the key to the America dream. Also. It having a kid out of wedlock is also important😂😂

[@djm2189]

​@@erickn7985bull. That was the truth back in the day, not now. The wealth distribution is exponentially greater. The CEO pay grew exponentially. Did you not watch any other documentaries? I should be golden but everything is way too expensive. I grew up first gen American and poor AF. Now 28, earn $115k, no debt, single. I should have way more options for homes and bunch extra for wants. Nope and I live below my means and track every dollar with MINT. The American dream is pretty much null now. Most can't afford it even if they follow the play book step by step.

[@Novastar.SaberCombat]

@@erickn7985 Nah brah. I have been one heck of an ethical, awesome, innovative, frugal, yet hard-working human over the decades. If someone is doing well, they're there because of LUCK and almost nothing else. Hard work is important, but eet down meen shee-it if you ain't lucky. 😂 Even one catastrophic disaster (out of one's control) can bankrupt a dope individual. Three'll absolutely BODY them, too, lol. 💪😎✌️ I once knew a SUUUPER wealthy dude. Hottest wife, best cars, giant house, cool kids. Three major events struck. Then she left, he went broke, he disappeared for about 6 months, and was later found dead and rotting in a dumpster. For some reason, his hand was sliced off. No idea why. It ain't nothin' now though. ✌️

[@antaresxp]

Don't be sad. Work harder, take risks and you will be fine.

[@MIkeKDBA]

Decades of telling people "it's not your fault" has led them to believe they don't own their financial positions. Your education, experience, job choices and spending decisions are 100% your responsibility. The basic strategy is increasing your income, decreasing your expenses or both. The government will not solve your financial problems, you will.

[@nickjacobsss]

I've come to find It's really not about how much you make, it's about how much you owe. Get a decent job in a cheap area, pay off all your debts, live below your means until you have no debt, and you can live comfortably off very little money. It's the expensive car payment, the fancy house, the newest iPhone, the going out to eat every day, buying overpriced drinks at the bar, etc. Living the lifestyle that doesn't match your income is why so many are struggling. Obviously, there are plenty of exceptions, but the bulk majority likely could live comfortably, but they'd rather take on debt to live above their means.

[@garyhall5397]

What the hell is wrong with you, quit talking logically.

[@electrikoptik]

Fun fact: the majority of people earning $100K a year are living paycheck to paycheck. It's interesting that "100K" is still used as the gold standard for a good income. Earning $100K was considered substantial 20 or more years ago, but times have changed.

[@kyleolson9636]

Truth. While I aspired to have a 100k income in the late 90s, that is actually a $185k income today. The same goes for the term millionaire, which originally meant someone truly wealthy with a net worth of around $100 million today. In fact, as early as the late 1800s the term multimillionaire entered circulation because becoming a millionaire started to lose its original meaning.

[@karstenbursak8083]

The channel "Black Forrest Family", an american family of 4 living in Freiburg/Germany made an interesting 4 part series comparing salaries, taxes, benefits and costs of living between the US and Germany ... might be a Real eye opener for some folks

[@WillmobilePlus]

If you earn 100k and living like that, you are just a fool. Dont give me this BS that this isnt enough.

[@DearSX]

I make $100k per year, which comes out to $5.5k per month after taxes. I pay $2k/month for 2 children daycare, $600 for my used car (including gas, insurance, repairs, etc.), $1500 for my rent, about $900/food, the rest is misc. (clothing, phone, etc.), Total about $5500/month; so yeah pay check to pay check. Once the kids don't need daycare I should be in better shape. oh wait, my wife also works, never mind, I'm ok. I need to get access to her bank account.

[@millirabbit4331]

Its gotten really hard to save at all. I make $120k and still feel like I need to be careful what I do with my money because my wife is stay at home and we have 2 kids and I have student loans. It sucks a lot. Im better off than others but I dont see how others even come close to surviving.

[@K1NG_KA1]

I think its definitely time for us to come together as one , regardless of political party . Make it known that we need a change

[@keropi193]

class consciousness and political action is essential so we can move past wedge issues and in to actual material change.

[@BossItUp911]

makes no sense as the entire point of politics on the fiscal side is to get someone else to pay for the stuff you want and can't / don't want to pay for yourself (medical, college, food (Stamps), child credits, etc. etc.)

[@americandissident9062]

Literally impossible.

[@innocentrage1]

Not regardless of political party. Republicans give tax cuts to the mega rich and its a major issue of how we got here. Vote blue if you want anything to change

[@elcapitan5680]

People vote for the same people and parties, that’s the problem

[@EricaWaters-lr6zw]

The cost of living seems to be increasing every year, making it harder to keep up.

[@JessicaKeith-uj1jq]

Indeed, it's becoming quite challenging to manage expenses.

[@ScottLarrry]

@@JessicaKeith-uj1jq I've actually managed to stay ahead of the curve. I'm even contemplating early retirement.

[@WhitneyRoss-dj4rf]

@@ScottLarrry Impressive! How did you achieve that?

[@ScottLarrry]

@@WhitneyRoss-dj4rf That's where experts like Katherine C Boone come in. Her insights and guidance have been instrumental for many investors during these turbulent times.

[@OliverLiam-px3vx]

Katherine C Boone? I've heard her trading calls across forex, stocks, and crypto have been the best in the last five years.

[@LarisaC.]

It’s interesting to note that mortgage rates in Europe are very much lower than in the US. Current mortgage rates in EU are around 4%. Mine is older, and it’s at 1,39%. I think this adds to the financial burden of cost of living in the US.

[@lolalalia4119]

So the final advice given to the average American after outlining just how bad Reagan-omics, corporate capitalism, and an unchecked federal reserve driving the rampant financial insecurity was: budget, understand that everyone is suffering, and "deal with it". Did anyone else catch that? They saved it for the final minute of the video

[@ronty08]

Absolutely agree with this

[@Novastar.SaberCombat]

Rich gotta rich. Poor gotta serve. Thousands of years of consistency, baby. 💪😎✌️

[@zachariahsmith9130]

I caught this. I said that their advice, was just frivolous. They showed no understanding of the problems that are plaguing people, did any of them look like they were struggling?

[@kevinm.8682]

Blaming the policies of a president who's been out of office longer than many people watching this video has been alive? Classic transference. Smh....

[@zachariahsmith9130]

@kevinm.8682 Youd have a point if that wasnt still happening. So would you like to contribute something constructive? There have been more tax breaks for the wealthy and theyve generated massive profits which causing inflation (which is really artificial btw). Sooooooo sounds like Reagan-omics to me.

[@Casey-summer]

Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.

[@lilyhershey1]

To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.

[@sloanmarriott5]

I truly enjoy having a portfolio coach to help me make market judgments on a daily basis. They possess a special combination of abilities that enable them to take both long and short positions, benefiting from the possibility of significant gains while also safeguarding against downward turns. I have had a portfolio coach for more than two years and throughout that time I've actually earned over $645k. It was a wonderful experience!

[@louie-rose7]

​ *@shirleygarland4766* I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@blackhawk7r221]

Have you tracked out inflation rates over the last few years? I think not.

[@DeezNyutz]

​@@sloanmarriott5She is horrible and a scammer!!!!

[@Dave-jv1kj]

Single. Hard working and still financially unable to get a home. House prices and interest are far beyond reachable. Rent for a 1 bdrm is doubled or almost triple what it used to be. Utilities are out of control even when you use less, you still pay more. I don’t see retirement happening for me in 20 yrs. I’ll most likely just hitch hike my way to Florida and either let nature or alligator have its way. Lol

[@mathematician1234]

I watched the video and read three-dozen comments. I did not see or hear anything about lack of financial literacy being a problem. I think, however, that it is one part of the problem.

[@ryanwilliams989]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[@TheresaAnderson-kf5xw]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a-lot of wealth transfer in this downtime if you know where to look.

[@maryHenokNft]

If you're not well-versed in the market, seeking advice or assistance from a consultant or investing coach is the most recommended step. Personally, consulting with an advisor has helped me navigate the market successfully, resulting in a portfolio growth of approximately 65% since January. While it might seem like a standard suggestion, I firmly believe it's the most impactful approach to entering the business at present.

[@maggysterling33254]

@@maryHenokNft Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

[@gregorylyon1004]

Just remember something about investments. Whatever money you made on an investment, someone else lost that same money

[@StellaMaris-lv2uq]

​@@gregorylyon1004 @gregorylyon1004 The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment. greg why do you feel like that what if someone made money through investing on someone who invented an item and the item actually blew up into a billion dollar business

[@DLTube68]

Like many, I suffered a financial setback after my divorce. It was many years ago, but I still remember this one event like it was yesterday. It was a Friday and I just got paid. After paying rent and utilities, filling up my truck with gas, buying 2-week's worth of groceries, I had $20 left to last me until my next paycheck. My son asked if we could go to Burger King (he liked getting the little paper crown 🙂). I had to actually think about it 😔. It took a lot of hard work, but things eventually got better. As I advanced at my job I still maintained a modest lifestyle, saving and investing as much as I could. Fast forward to today- I'm retired at 55 and living comfortably!

[@JohnDoe_1609]

It does seem like after being financially destroyed by a divorce, it sets you on a good path in the future. I was in my late thirties when that happened to me and at 48 things are a lot brighter. Maybe it forced me to live on a budget and better understand my wants and needs.

[@Chad_Max]

I'm glad things eventually worked out for you and I hope guys are reading this. Marriage is arguably the worst financial decision a man with a shred of means can make today, bar none. Its the only contract on the planet where a person can come into it with less wealth (usually the woman since women marry up), break it, and leave it with more wealth and its not recognized as unjust enrichment by the legal system. Its absolutely insane. Marriage is purely a transfer of wealth from the higher income earner to the lower income earner and given that women file for divorce 90% of the time they have figured things out pretty well. Men need to catch up in their understanding of the liabilities of marriage today. The first question they need to ask themselves is, "Is this woman wife material?". Very few times is this answer a resounding Yes...

[@DLTube68]

@glo8499 The "Not All" crowd is SO predictable. Listen, not all snakes bite, but I'm still not going to pick one up!

[@DLTube68]

@ChadiusMaximus196 Yep 💯%. Also, most people don't realize the kickbacks that come from the collection of child support goes to funding wealth, welfare programs such as food stamps, and section 8.

[@DLTube68]

@dandietiker1609 Yep, there is a lot of truth to that. For those who are introspective, it can be a blessing in disguise.

[@OldManLife50s]

I agree the economy in regards to inflation is out of control today and the purchasing power of the dollar is extremely downgraded compared to other times in our history. I think back to times just 3 to 4 years ago and it really seems like times were a little more financially feasible but in reality I think it was just easier to obtain things on credit with the majority of those “things” not needed. Then even reflecting back 20, 30 or even 40 years ago and remembering the power of the dollar. However, remembering the power of the dollar and really reflecting on the power, it wasn’t necessarily more powerful. Yes, I understand grocery cost are thru the roof, housing whether buying or renting is astronomical, fuel cost are fluctuating so much and never really going down to yesteryears. Yes, I understand and feel the pain as well economically and financially because of the rising cost of absolute everything except our paychecks. Butttt…. When really reflecting back to 30 or 40 years ago and remembering when only one parent had to work and it seeming like they lived comfortably is true but the memories must include how and what they spent their money on. Because we are a little spoiled today with all the modern conveniences and “must haves” in today’s society. In the 80s, only my dad worked and we never hurt for anything but we didn’t get the latest of the greatest things coming out. Back then, if you made $5 to $7 dollars an hour, that was considered a really great start and could live comfortably. But you also have to consider, there was no internet, no cell phones, no cable or satellite tv, no subscriptions to streaming services, no amazon, and credit was a little harder to obtain. Automobiles were not filled with every little whim even though power windows, power door locks, and power seats were add on’s. Heck even getting an FM radio in the car was an extra feature and even sometimes getting a rear bumper was an extra. Then making the above hourly wage didn’t get you to those “higher end” vehicle equipped with the above. It would get you a nice used vehicle. Think about the cost of having internet where I have seen it ranging from $40 to over $180 just for the home. Then everyone has to have a smart phone and what are the cost of those to have reliable services. Years ago, there was just a home phone which if memory serves correctly was in the range of $20 - $30 and you had to pay extra for long distance phone calls which was expensive. Today, you can call overseas which is included in the cost of having a smart phone but you are paying upwards of $100 a month depending on service providers. Now reflect, on cable television cost. Growing up we never had cable tv just the old fashion antenna for local channels which didn’t cost anything which you can do the same thing today but many don’t. They elect to have cable or satellite tv with hundreds of channels with cost above $60 a month. Yes, there are televisions now that have a lot of services included which connects thru your home internet; however, a lot of those streaming services you have to pay additional money to utilize. Such as Netflix, Amazon, Paramont, etc. Speaking of amazon, we have become accustomed to the ease of ordering from services like Amazon with just a quick selection with our finger. Compared to 30 or 40 years ago, you usually didn’t have that instant gratification with a purchase which would give someone time to really reflect if the product was actually needed. So, yes inflation is sky rocketing and money is tighter than just a few years ago but do we really need to have a cell phone plan that cost $150 or more a month. Is internet needed in the home for upwards of $100 a month and the answer is probably yes in this modern world for banking and school. But is both needed - phone and internet? I would say not. Is cable or satellite services needed for upwards of $100 a month to include streaming services that can range from $15 a month and up. Do we need to limit our convenience of browsing amazon and the ease of filling that shopping cart with just a few clicks? Is there a need to have an $60,000 dollar car equipped with everything that the majority of people only use to drive to work, kids to school, grocery shopping, etc? Is leather seats really needed to just drive for maybe 30 minute trips to work or the grocery store? I am not stating that times are not tough financially nor am I stating you shouldn’t have nice things and convenient things to make your life more enjoyable. But I am stating 30 to 40 years ago weren’t easier financially either. It was just a different financial mind set possibly and difference of availability of products and services.

[@twiceredux]

The problem is really corporations increasing prices because they knew they could. A lot of America is realizing it’s not cheap to live here and a lot of costs are just passed down to consumers while trickle down economics don’t work.

[@mariusfacktor3597]

Trickle down economics doesn't work, that's absolutely true. Tax breaks and subsidies for corporations only makes the CEO bonuses bigger. It does not cause higher wages or lower prices. There is another problem too. And that is the housing shortage. This is actually caused by ill-intentioned land-use policies created during Red Lining to keep minorities out of white neighborhoods. It's called Exclusionary Zoning and it makes it impossible for the supply of homes to keep up with population growth in our most important cities. That's why LA and SF have really high rent prices and mass homelessness. It's a policy choice.

[@bwofficial1776]

@@mariusfacktor3597 And yet, go into any major city or rural area and you'll see plenty of abandoned houses. We have enough places to live but people would rather walk away and leave them.

[@mariusfacktor3597]

@@bwofficial1776 There are not many abandoned homes in major cities. And an abandoned house in Mississippi doesn't do any good to a rent burdened family in Phoenix. There isn't enough housing where it's most needed.

[@OkagaCalifornia]

This is definitely a cause. People at the top are allowed to make things more expensive because there’s nothing we can do about it. Food prices increase, what else are the people going to do? Thankfully the CEOs can see their profits skyrocket, it’s completely ridiculous.

[@bwofficial1776]

@@mariusfacktor3597 Go into the less desirable neighborhoods, aka the hood or the ghetto and you'll see boarded-up houses on every block. Those people in Phoenix can scrape together a Greyhound ticket and go to Mississippi if they really need a roof over their heads.

[@jensumayer]

You are using average and median interchangeably, which they are not. I understand, you cannot live in the big coastal cities at $4,000 per month. I earn less than 75k per year in the heartland and that is a very comfortable living. Don't fall into the credit card trap, don't buy what you can't pay for. Instead of talking about the average, focus on the millions of hard working full-time employees who can't make ends meet due to minimum wage, student loans or medical bills.

[@stephencullum8255]

Where you live makes a huge difference. In the right places you can retire and make it just on Social Security. I live in Orlando Florida and we are one of the most unaffordable places in the country when you factor in the medium wage with the very high cost of living. Anyone thinking about retiring in central or south Florida , unless you are packing a lot of money don't. My wife's native Georgia is more affordable and if working pays a higher wages. If my home was not paid off and my family here I would move there.

[@paulhunter6742]

i found outside major expenses Morgage payments, Loans and Healthcare. My biggest cash eater is Utilities or peripherals stuff like Water& Sewer; Trash pickup and households repair expenses. And those factors increased with state, city and local government taxes. Something I have no control over. I also have closely watch my On-line spending as i tend be impulse shopper.

[@valaquenta220]

As a European, the "needed" income to be comfortable that you guys claim is necessary completely blows my mind : in France, the median income is around 25 000 euros a year (less than 30k dollars a year) and most people I know would say that 70 000 euros would be VERY comfortable...so when I see people in America saying that 233 000 dollars would be necessary to be comfortable, I can't help but wonder what's going on here: is it just because our definition is not the same, is it because Americans are just particularly wealthy and don't see it, or is it simply that you guys REALLY need that much money? I don't get it...earning 230 000 euros a year in my country would probably put you in the top 0.5% of earners. Thanks for the answers.

[@jsebby2284]

Most likely because our definitions aren't not the same, and we are a bit wealthier. We don't need anything even remotely close to 233K. A third of that is mote than comfortable for an individual. But to Americans being comfortable means buying anyhting you want at any time

[@aayushprakhar1711]

Probably you guys don't have expenses which americans have to bear college debt, car mortgage(everyone has 2 because both are working) because,saving for house mortgage, health related expenses for entire family, several kinds of insurance necessitated by government(a guy got penalized because he didnt have health insurance) then saving for retirement as well...I don't think it's about different definition it's Probably government doesn't do enough for their citizens like they do in france

[@davidsantana9138]

This topic needs to be addressed more often and more honestly, because hearing "just save money" or "hustle harder" doesn't really solve the problem, it just gets on my nerves. and another symptom of this problem there're sharks who take advantage of people who are looking for that extra bit of income with MLM's or working gigs

[@Summerdee223]

Don't fall for an MLM! Sorry to tell you, but everything you have heard is true no matter how much you wish it wasn't. Earn more money/hustle harder and save/invest/be frugal. It's been the same story for eternity and I'm not sure what you think is different right now. We are in an economic downturn and it sucks, but things will recover. Either way, the facts never change: spend less than you earn, figure out a way to earn more if you can, be frugal, save every dime you can. Nothing will EVER change those basic economic facts.

[@antilogism]

@@Summerdee223 So true. Life runs relentlessly hot and cold so be prepared, flexible, keen.

[@davidsantana9138]

@@Summerdee223 I agree. I think the main difference is how easy is to spread that message that can sucker people who are struggling because THEY'RE the problem... But if you buy their self-help book + 5 hr course they can earn "financial freedom". And the frustrating thing is if you speak up about it you'll be labeled as a hater or some nonsense, hustle-culture is almost cultish

[@nexeroth7151]

Go drive an Uber instead of watching KZbin.

[@dalton6108]

I work a full time job and go to school full time. I’m living paycheck to paycheck. I was thinking about picking up a 2nd job ( aside from door dashing) that will make me more money. If I can make an extra 300 a week I will be able to be good. Put some money down on some debts

[@FirstHillSeattle]

Back in 2012 when Mitt Romney was running for president he was asked by a reporter what income he thought would make someone middle class and he said $150K a year. He was roundly criticized for this answer, and people used it as a reason to say he was out of touch. I thought it was a GREAT answer. In order to own a home, send your kids to college, take a vacation every year, and drive a car that is relatively new, in most places now, that was an accurate answer. So we need to get honest about this as a country, not laugh at people for speaking the truth. And it also starts with workers demanding more. Not voting for people that want to get rid of labor unions, or who don’t care how much you pay for healthcare.

[@benm8763]

amazing vid bro you put hella work into it fs ❤

[@user-tr3wf4bw2l]

When I was working for Walmart, I was making about $30k/year. I was doing ok/comfortable with it.

[@franciscogomez2565]

My parents own their own home and still feeling it. Imagine what that means for everyone renting. Groceries are so expensive and everyone is feeling it!!

[@slaydog5102]

Plus more and more teenagers are still living with their parents past 18

[@sarahsimpkins1311]

​@@slaydog5102they don't have no choice cause rent is high. It's not like it was 20 years ago when you use can rent a 1 br apt for $375 that's how much i paid back in the day. Them same apt them rent is $1000 now.

[@sarahsimpkins1311]

@@JasonBourne-lt6oo cost of living is getting expensive every where

[@unidosconleonel8995]

Income from work plus investments can make life perfect

[@dieseldouche7735]

​@@sarahsimpkins1311rent for a one bedroom in Colorado is $1600+. Absolute insanity.

[@jeffersonholland9797]

I literally live paycheck to paycheck and I keep hearing from CEO's and other wealthy people that I make too much money and if I get a raise, every investor 's child will have to work like I do.

[@jaqueitch]

Stop complaining. You have every opportunity to reinvent yourself and position yourself to make a much higher salary. I am living proof of it.

[@franchescathomas371]

You are not everybody. There are factors involved.

[@jaqueitch]

@@franchescathomas371 I've done nothing remarkable and live quite well. I have no sympathy for those who are lazy, stupid, or just don't care.

[@Dafwog2013]

​@@jaqueitchnot all fall under those categories bro.

[@saadcringe]

there’s a better way forward brother, i promise

[@mav9932]

Maybe if the government didn't take 20 plus percent of every paycheck and ship it off to other countries the American people would be able to afford more.

[@wmp3346]

Save and invest. Learn about finance, debt diversification and dividends. You reap what you sow.

[@user-ny5xe2hx7t]

It will be much better if a lot of people focus their money more on investment instead of focusing more on getting a pay Job that offers a higher pay and have more raise in tax and other bills, the world as we see today has more opportunities in earnings than it was before now we’ve got a lot more easier opportunity to trade on stock, crypto, forex and a lot more. Then why limit yourself to earning little and struggle to pay bills when you can be your own boss

[@LouisMorris-vq8hf]

You are right.!

[@LouisMorris-vq8hf]

That is why I had to start forex trading 2months ago and I now am making benefits from it..

[@ZoeWalker-kc8ip]

My first investment was with Shanita Creswell, it gave me profit of over $80,000 Us dollar...

[@KadreYilmaz]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻

[@LisaCunningham-bn7qv]

A common mistake we newbies make is venturing into the market without help and legit guidance

[@wadecodez]

The average house costs about 400k! Where are people getting this kind of income?

[@ricnyc2759]

People are not buying houses. BlackRock and other companies are buying them to rent.

[@jsebby2284]

Well you don't just buy the house up front lol

[@oldtwinsna8347]

It's within reach of two earners in a household. The main problem is that they don't have existing debt that overrides their ability to get a home loan, and 90% of that would originate as student loan debt.

[@wadecodez]

@@oldtwinsna8347 So if I attended college, I would be able to buy a house?

[@EricK-bw2mj]

The worst thing you could say is "its not your fault." That sentiemnt just incentives people to not save more or better budget. And it implicitly suggests that things will get better when you should always be financially planning for the worse

[@offendedliberal6374]

Doesn’t matter how much we make up if the cost of living goes up along with the wages. But lesbhonest people wanna spend like they’re rich and still be able to make it through with an average wage. That’s why so many people use financing sites like affirm and after pay. Not to mention credit cards. I everyone wants to buy now and pay later and then never get out of that hole.

[@Autumn-Rain]

I love the money/ finance series from this Network

[@earlysda]

Autumn, be careful, many things CNBC says are not true.

[@jcst8l3]

First thing we have to do is teach high school and college students about debt, interest rates, retirement savings, compound interest I can say I started becoming financially literate in my mid 30s that is way too long and it cost me thousands

[@tmusa2002]

Many states require it in high school these days. And don’t you wonder how previous generations figured it out? Now with Google and YTube and they all play so stupid.

[@jpelite2110]

Schools don’t want to teach students about money.

[@chromegaman]

While increasing financial literacy is one aspect of this, it cannot be the sole approach to the issue. We need ways to address predatory debt systems that operate in the void of regulations, to reinforce fair labor pay practices to include the increased presence and acceptance of unions and union activities, and to rebuild stopgap and safety net programs that help people from turning a small financial stumble into a cascade of financial failure. These measures in addition to financial literacy advocacy will, at the very least, ensure some level of financial stability currently absent in our system, and may even reverse the ill fortunes of many people currently facing the multiple crises of job insecurity, eviction, and homelessness.

[@TheAwesomes2104]

I wish this was a problem of lack of education, but even the smartest kids still fall into debt because it's a necessary part of survival for most working people. You need a car to go to work, debt. You need a degree to make enough so you can afford a car, debt, you suffer a sudden expense, debt, you practically exist in the American medical system, debt. The only way to avoid debt is to be lucky enough to have the means to get everything you need in the first place.

[@tmusa2002]

@@TheAwesomes2104 You bring up a good point and we also need to address the irresponsible use of credit cards to buy want after want. Overindulgence is a very big problem and the role social media plays in people trying to compete with each other when most cannot afford the new car, designer clothes, or the fancy apartment.

[@simonrowe3124]

Debt is by design, not an unhappy accident. Debt is a deeply thought out process, its characteristics were specifically designed to entrap and then disguised, its ramifications were explored painstakingly prior to its launch as a product… and that is what debt is, a product sold on the open market, which the vast majority of people have acquired!

[@hummersd]

All small steps; it adds up. I was in credit card and loan debt for years and years. During the pandemic was the turning point. Being surrounding by my "stuff" for a year that wasn't being used for longer than that I finally realized what I don't need. I paid off all debt a few years ago, but getting to catch-up savings from those years has been more of a challenge. But given that I have those first few steps done, and the lesson now (hopefully) learned, I can start to shift focus on how to make what savings I have work to grow to help make up what is still needed for retirement. I would like to stop working much earlier than the regular retiree, and also want to live comfortably, however long or short that is. We can all do it; the mindset needs to shift, the knowledge needs to spread on how to save on basics, and learning long-term vs. short-term benefits of now vs. later. Buy off-brand, buy only on sale. Make what you have last as long as you can. Cook food at home, or make take-out last another meal. Re-sell things you no longer need. Etc.

[@OnasaD]

In America and much of the western hemisphere you work to live and then you die once you stop, this is why most retired folks or smarter younger folks are leaving to countries that don’t prioritize money above everything

[@Seanpfree]

We've been priced out of our hometown in middle Tennessee rent is up over 100% we've lost 76 bids on our first home in the last 3 years

[@vincentvilay1407]

Oh, I agree. Real estate is getting ridiculous around here. Where are you at specifically, if you don't mind me asking? I grew up in Antioch, but family moved to Franklin back over a decade ago. Went to college in Nebraska, but now I live in Dickson. All the counties adjacent to Nashville are getting really bad, Williamson County in particular I feel like, but from what I've heard, even the prices in places like Hickman County or Humphreys County are going up high enough that younger people who grew up there can't afford to buy a home there anymore.

[@SweBeach2023]

Have you considered building your own? Doesn't have to be big and fancy, 800-1000 sqr ft should be more than enough for most.

[@handleyobusiness]

Well, Shelby and Tipton counties are affordable here in west TN.

[@screes620]

I make 60k a year, and i feel like i have way more money than i could ever use or need. People don't need more money, they need to know how to use their money more wisely. If you are making more than 50k a year and you do not feel financially secure, you are doing it wrong. My rent is less than 1k a month. The rent is 1,400 for a 2 bedroom apartment, and i split rent with a friend. So 1k a month includes rent + utilities. Groceries are around $300 a month. Cell phone + Internet is another $100 or so. I can pay all my bills for less than $1500 a month. I have no debt, i have no car payments. I have almost $3k a month "fun money" i can do anything i want with. Either to invest in retirement, or just to go on trips and go out to eat and do w/e i want in life. All on 60k a year.

[@Allaiya.]

233k a year? I could be comfortable on 100k lol I am ok on 65k a year & feel comfortable because I try to keep my main fixed expenses as low as possible. That is phone (Visible), internet (xfinity - their lowest speed plan 25 MBs they allow as all I do is stream HBO/KZbin rather than have cable), transport costs (paid cash for a slightly used hatchback & live close to my work to cut down gas costs), housing (went with a quadplex Condo over a SFR so I could have a lower payment & have it paid off in 15 years), and food (Aldi). I do occasionally splurge like on a robot vacuum that helps save me time. And any big purchases or streaming subscriptions are done during Black Friday or Cyber Monday when there are deals. Also I try to shop second hand on Nextdoor or facebook marketplace. I don't really go on vacations though unless it's a family one.

[@erickn7985]

Working from home has been a great thing to have, it has allowed me to save thousands of dollars. Working 2 full time jobs is truely a blessings

[@Summerdee223]

So do you work at least 80 hours per week or are you working two full time jobs at the same time (two jobs in the same 40-ish hour work week)?

[@ewentglobal9480]

@@Summerdee223not all jobs pay hourly.

[@Summerdee223]

@@ewentglobal9480 I have always been a salaried, exempt employee my entire career...so yes, I understand that fully.

[@Summerdee223]

The difference is that non-exempt, hourly workers are paid overtime and exempt/salaried employees are paid the same salary each week regardless (mostly, there are some exceptions).

[@rdean150]

The question still stands. Do you work 80 hours a week? Because even if there's no commute, that still sounds like hell. Actually, I know it's hell. I was working around 60 hours a week for a couple of years during the pandemic and it WAS hell. Doing it from home just made me lose my mind a little more.

[@mt8956]

I thought the average income was between $31,000~$40,000 and for Households it was around the $70,000 area.

[@djm2189]

Correct. I keep finding different sources that interchange the two terms. Individual is 1. Household can be 1+, usually 2 incomes. A household can have 2 income earners and make $115k. I as an individual make $115k. Thus we quote on quote earn the same.... Very different. I am one person vs 2. I choose to be single being I'm only 28. When I get a partner our household income will jump to 200k+. They should ensure they use the right statistic for this vid.

[@IamAWESOME3980]

Depends on where you live

[@jsebby2284]

Median full time income for an individual in the US is around 56K

[@GioAyala12]

These KZbin videos by CNBC are actually pretty good. Wish all their reporting was this good.

[@pierresosa6988]

I love how this video makes a hard turn toward do-it-yourself rather than look at systemic answers. Oh wELl tO BaD.

[@alexlees8697]

We work for years to earn $1million on our retirement, while some people put thousands of dollars in some meme coins and they become millionaires.

[@kathleeng.wilson1652]

I always wanted to trade crypto for a long time but the volatility in the price has been very confusing to me although I have watched many KZbin videos about it but still find it difficult to understand

[@peterwojcikgabriel5473]

Best thing that happened to me last year that I can attest to is the progress I have made so far on trade. Venturing into crypto was my best decision ever I know more is yet to come 2023

[@charliewolinski3508]

This year is almost over and am very glad about the decision made so far. Investing in the market earlier this year regardless of the market conditions has save lifes. I made over 80k USD with a start up of 25k in the last 7 months. I know is nothing compared to what others make but I'm glad am changing my finances.

[@owenbegum1875]

​@@kathleeng.wilson1652.First understanding the financial markets and how it works then you need to know how to study the market chart. That's all you stand to when you trade or invest with a mentor

[@rogerk.fitzgerald9916]

I diversity my portfolio into real estate crowdfunding, stock and cryptomarket. Although I'm able to achieve this growthing through mentor

[@kylemills7161]

Man, I make about 100K a year (with a family of 6) and we are living paycheck to paycheck. We are alright, and we have a nice home, but I can't afford to do hardly anything extra. A vacation? Forget about it. I can't save up thousands of dollars for a trip anywhere, I can't even afford to take the family out to a restaurant. Money sucks and it is probably the number one source of stress for our family

[@mathgasm8484]

I save $1600 a month and dont even earn 100k.

[@kimberly6243]

God bless you and your beautiful family. I feel you 100% and can relate!

[@bluethundar]

​@@mathgasm8484and how many mouths are you feeding?

[@mathgasm8484]

@@bluethundar If you include my bee farm millions lol. otherwise its just me.

[@AnDongying]

It's a pity to replace this news, so you have to make some passive income to improve your life, and you have to think about the children.

[@tywakorn]

I just wanna acknowledge the guy who wrote with nice handwriting...

[@the_investor9836]

People in the media keep saying household income is average income but its not the same as a household in average has more than 1 person

[@DistrustHumanz]

3:54 Can someone please explain to me how the average American household only spends $96.42 a month on healthcare?

[@hejiranyc]

That's health insurance. Most Americans get health insurance covered or heavily subsidized by their employers. My last two employers provided 100% free health/dental/vision insurance.

[@Roguecor]

Because of deductibles and copays.

[@DistrustHumanz]

Perhaps I asked the wrong question. If the average American household pays only $96.42 a month for healthcare, wouldn't that explain the current almost $200 Billion in U.S. healthcare debt?

[@Ruslan-S]

​@@DistrustHumanzthey pay much more for it, just not out of their "take home" pay. It's being deducted by their employer to pay these premiums. The employer doesn't just pay this from the free money they have lying around. They could've been paying that to the employee and then they could decide on the insurer, but the employer pays directly to the insurer instead. Employer thinks it's a fair compensation for the work that the employee provides so it is part of the employee's pay in a way, and it's the employees who actually earn this money that gets paid to the insurer, and it's much higher than 90 dollars that they also have to pay from their "take home" income.

[@CottonCandyMintCookies]

96 is the amount deducted from my biweekly paycheck so that's $180 a month. 96 is way too low

[@GaryWinstonBrown]

It is always good to have a financial plan. I work with a professional planner and fixed-income strategist in NY. The fixed income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.

[@MichealTanner141]

Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely...

[@AnnaKrueger809]

I couldn't agree more. Taking charge of your life and putting in the hard work is the path to success. Having a portfolio manager like Mr. Samuel Peter Descovich is a game-changer. Their expertise and guidance can truly transform your financial journey. Making $35,000 in profits each month and saving 70% of that is quite impressive!They save you time and provide valuable insights that lead to impressive profits. Keep up the amazing work, and enjoy the fruits of your labor..

[@Seanmirrer]

I've shuffled through a few experts in the past, but settled with SAMUEL PETER DESCOVICH. The strategy he use is recession-proof, more specifically profit-oriented , and most likely, you'd find his basic info on the net, he's a renowned advisor.

[@Jimpard]

Found his website easily. It was like the first thing that came up when I searched his name. I'll surely touch basis with him to see what the best step is for me to take right now. THANK YOU!!!

[@Rhgeyer278]

It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $65k passively investing with Samuel Peter Descovich, and I don’t have to do much work. It doesn’t matter if the market is crashing, I will always make good profit returns.

[@patriciaholloway]

Oh please. Try living on a disability check. I only have enough to cover half the bills. My daughter pays the other half (we live together). I have to save all year for something like a car repair. I'm broke by the 10th of the month. Many necessities are luxuries for me. SS told me I couldn't work at all. I wonder what they think people are going to do. But we're forgotten. Nobody talks about the disabled.

[@johntracy72]

They won't even let you work a job like Lyft or Uber?

[@easportssucks4347]

​@@johntracy72 think about what you just did.. you asked a disabled person why can't they work? you are everything that's wrong with this country

[@jeremiahsmith450]

I’m 30 seconds in and I’m already calling BS. “the average American says they need 230k a year to be comfortable” yall are insane.

[@MarvishaN]

No matter how much some of us work, we may never be comfortable. How can we be? This government has made life more difficult for its residents. We have seen increases across the board for rent, food and utilities. They are at least twice as high as a year and a half ago. The less haves are bearing the brunt of the burden even more. I'm more concerned that the rising inflation may lead my entire $786k retirement portfolio to lose value. Where else could we put our cash for gains?

[@Bezosjesss]

Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.

[@josephbush]

Well, because it's become more difficult to build a solid financial portfolio since COVID, I advise you to create a diversification plan. My coworker advised me to consult an advisor. I did, and thanks to my advisor's guidance during this market meltdown, I have actually profited almost $926K. Despite the ups and downs, she employs defensive tactics to safeguard my portfolio and generate profits.

[@josephbush]

@albatkobe Sure. There are a lot of independent advisors you might look into. But I only work with HEATHER LEE LARIONI and we have been working together for nearly four years. She has since provided entry and exit points on the securities I concentrate on. She's well-grounded and known, shouldn't be a hassle finding her page.

[@Icantthinkofaname-qk3fs]

Lets see of course stocks but I don't see many people talking about bonds bonds are basically a loan you can get a bond from a company and what happens is every year you get a percentage of the money you gave them until the bond matures then you get the money you loaned them back as well great way to double your money BUT if the company goes under they will stop paying and you will lose the money you loaned them

[@eliflynn7282]

If you're comfortable you're not going to work as hard, or as long. They know that. That's why they've made people desperate.