Jeff Bezos told early investors that Amazon would not be profitable for at least 10 years. A lot of investors backed away but the ones who stayed got rich. Patience pays off.
@markhines1927 ай бұрын
Yes but did it just make them rich on paper? Did they get any cash flow from the stock in the form of regular dividends, or just an increase of stock value over time? They would have to sell shares in order to benefit their lifestyle.
@Desiree_Rose7 ай бұрын
The old saying was the fastest way to double your money is to fold it in half and put it back in your pocket😅
@WhiteWolf1015 ай бұрын
Haha I like that one
@sameasnone4 ай бұрын
Can you explain it? Is it meant to say that there is no way to double your money?
@rebeckawoods60933 ай бұрын
It's meaning you can grow your money only if you don't spend it.
@sharonbusch7 ай бұрын
My mother did good in the stock market, conservatively. In her senior years she went to stock clubs and learned how to study stocks. She had no debt and had a pension, grew her nest egg late in life. I admired her.
@ManpreetHarrideo7 ай бұрын
Thank you for sharing this. I admire her. And stories like this. My father and MOTHER I got to be grateful for. I am learning budgeting now at 28 years old.😊
@john-o1g9p6 ай бұрын
i am an orphan and widowed. what did she do, ''late in life, with her nest egg''?
@rdmineer17 ай бұрын
Net balance in my Fidelity account has increased 5% in two months. This was accomplished by increasing 401k contribution to 30%, and major investors bailing from the EV development sector. Why did you think the legacy manufacturers are pulling back, besides they don't sell? Also save $1000 every month and keep @ $1000 available to use wisely.. This is on annual $32k gross. A debt free budget is the key.
@lindadorman28697 ай бұрын
I wish I knew the power of compound interest when I was younger and had a long runway to invest for growth.
@DaveM-FFB6 ай бұрын
Pay this knowledge forward and educate 5 young people about compound interest.
@Millennialmtb4 ай бұрын
Im gunna let my nieces know about the whole investing world.
@Lcshell7 ай бұрын
The baby steps 😊 it’s always the baby steps 😊 it’s great to hear it though in so many different ways 💜
@freedomring30227 ай бұрын
I find it fascinating when you tell people that slow and steady investing wins the race and you show them the math, they still think it’s not possible.
@nae48307 ай бұрын
Specific number goals are good though.
@jessebodey94217 ай бұрын
Thank you Rachel!
@john-o1g9p6 ай бұрын
''they wake up and they have nothing saved for retirement'' ''failure to plan on your part is not an emergency on my part.''
@mocheen48374 ай бұрын
It is not waking up and discovering that you have nothing saved. It is a life choice. Most people want everything now and feel they are entitled to have more. I have always dreamed of owning a Porsche 911 S but said that I would not buy one until I had at least $1 million saved. After I passed that milestone I said wait until I have $2 million saved. Now I am pushing it off until $3 million. Pretty soon growing your money becomes more of a priority. I guess that I may never own the Porsche.
@PJBHolden7 ай бұрын
I can’t wait to get to that $100 goal !😂
@TheRalf99997 ай бұрын
Thanks. The apple does not fall from the tree…..you are blessed by a smart parent……wish we could clone this information to the country….Live below your means 🇺🇸
@ManpreetHarrideo7 ай бұрын
Every situation is different. Thanks.
@Anonimna854 ай бұрын
This! 👍🏻
@austomarvin4 ай бұрын
Yea surprised they didn’t say pay cash for a house too
@PinkieJoJo4 ай бұрын
@@austomarvinthey don’t believe in that. 😂. You obviously have never actually watched he’s them much
@janettezcan46947 ай бұрын
Pay cash for a car. Do you know what a car costs nowadays? The used cars are just as expensive.
@PinkieJoJo4 ай бұрын
That’s why you plan for a new one as soon as you buy your current one. Always have a sinking fund for a new car (well a new used car).
@rebeckawoods60933 ай бұрын
Stop complaining. My car cost $3,200 in 2021. It had a lot of damage, bought it salvage. The mechanic said it was in good shape under the hood, so I bought it. It's the most mechanically reliable car I've ever had. It's damaged on the exterior, but it gets me 37mpg on the highway and about 30mpg in the city. It's been a fantastic investment.
@austomarvin4 ай бұрын
So only pay cash for everything and if can afford a car in cash well maybe you can go get a little tikes
@STEPHEN-no5vl7 ай бұрын
You call a car a deprecating asset. If it deprecates then how is it an asset? I was taught that is a liability. Please explain.
@shaungonzalez20967 ай бұрын
It's a libility in the send that it doesn't bring or make you money. However, it's a depreciating asset because it still worth something, and over time it's worth less the more time goes and used.
@gymnstmini7 ай бұрын
The way I understand an asset is something you own. So a car is something you own (if it's paid off), but it loses value over it's lifetime (depreciation). If you still owe money (have a loan) on that car then it becomes a liability to you.
@lindseye27507 ай бұрын
A liability is something you pay on, a paid off car may be going down in value but it’s still there and won’t completely ever disappear
@ihaveadreamformykids44007 ай бұрын
A car is a liability becAuse it depreciates value unlike a house and lot which appreciates value overtime.
@dcowboys1077 ай бұрын
@@ihaveadreamformykids4400In pure accounting terms, a car is an asset. Most tangible, fixed assets have a depreciating component to them. In short, an asset is something you own. A liability, in this case, is the loan to acquire the asset (if any). Your net asset value is the car value less the liability.
@ThraxMan844 ай бұрын
The advice is sound for those who can afford to do these things. But in the real world, it’s already a struggle.
@donnawestbrook89924 ай бұрын
It isn't always easy, that is why it is baby steps. Being aware of where your money is going and how much helps. Once you are debt free and living within your means, invest something then increase it gradually. Calculate what 15% of your income is and shoot for that. If you work for a company with a 401 K put money into it so you get the employer match. Even if you put $25 a paycheck into an account that earns interest, like online high yield savings accounts, over time the interest adds up, and you can gradually increase that amount and open a Roth IRA, then invest that money to get higher yields.
@markhines1927 ай бұрын
Yes but having a house in a 401k that are worth a million dollars is not the same as having a million dollars of income. Increasing cash flow should be the measure of wealth. You can be land or house rich on paper but no income from those assets. If you lose your job, and use up your emergency fund, you will have to sell some of your "net worth"assets to live. Go for investment income.
@nae48307 ай бұрын
Yes!! This point frustrates me too. “Net worth millionaire”. I share your thoughts, you still need cash flow and if they sit on the property it’s not doing anything in terms of generating income unless the person moves to a less priced property. Then there are studies reflecting flatline for houses, no real appreciation due to inflation. AND, what about the total cost of a home considering interest. On average the cost of a home is 3 times that of its original cost when interest is factored in, without considering maintenance expenses. I wish “experts” would talk more about those aspects.
@markhines1927 ай бұрын
In the Ramsey universe being a millionaire is being housed in landport with a net worth of a million dollars but no income. When most other people out in the world think about being a millionaire they think about big cash flow that they can spend. This usually requires building a business that creates cash flow that can then give you the money to diversify your investments or increase your lifestyle. That's what I think of when I hear the word millionaire.
@ihaveadreamformykids44007 ай бұрын
So what is your suggestion?
@janettezcan46947 ай бұрын
Yes you are right! How can you do all this on a 50 or 60,000 year income. You can't afford a house or even get a mortgage where I live.
@davidbrooks88097 ай бұрын
You can where I live in Ohio 😊
@aliciaamond81487 ай бұрын
And discipline
@barriespencer63367 ай бұрын
Wow great information if i was 45 yrs old im to old now I've mist compounding time i haven't got
@rebeckawoods60933 ай бұрын
You still have 20-30 years of compounding. You can still double your money 3 or 4 times.
@jovna53152 ай бұрын
True and you can always leave it for inheritance for your children or family or friends or other beneficials, maybe charities.
@rdmineer17 ай бұрын
Fold and put it back into your pocket.
@stevenporter8637 ай бұрын
The home you live in is way over rated in the individual's net worth calculation. It is alarming how much people have tired up in the homes they are living in, and no liquidity. All eggs one frozen basket/asset class.
@EricMoore7907 ай бұрын
My wife doubled her money when she started dating her yoga instructor.
@jentbotbfa7 ай бұрын
Oh boy….. That’s terrible.
@bethanyg1537 ай бұрын
Real estate! We put 0% down and sold 6 years later and had $250,000 in the bank. That was every payment with taxes, insurance, principal and interest back 2x over plus some.
@Anonimna854 ай бұрын
It's depend on country. Here in Europe real estates drastict changed value since last 2 year, we buy luxurious apartment in popular ski resort on mountain in 2021., Now we can't sell it for half of price we payed. If we only knew... It' s big fluctuation with prices for real estate in Europe right now.
@NathanDunlap-j9w4 ай бұрын
True girl. And Girls👗🎤😜🎩🌹
@bgotura7 ай бұрын
Do you factor in the value of your home when calculating net worth?
@hisaddle7 ай бұрын
Yes. You take the value of everything you own and subtract all you owe and this gives you your net worth. Maybe google.....how to calculate net worth... and that will give you lots of into.
@Anonimna854 ай бұрын
Everything material you own and you can sell for the money is your net worth.
@dlyroadrunner7 ай бұрын
📝 Pay off those debts, build up your savings, start saving to buy a house, start investing into retirement…
@darryltognarelli67697 ай бұрын
I do have a very small portion of debt and can pay off automatically!! My credit cards give me an allowance of approximately 13 thousand dollars and if I was to charge that much I could pay off automatically the next day if I wanted to
@affordableliving27567 ай бұрын
Nice video 😊
@bhstennis046 ай бұрын
I’m sorry, are you suggesting saving for a house before beginning to save money for retirement?
@Anonimna854 ай бұрын
You need your house before you get retired, so... yes! You can always sell your house if you need money in retirement if you don't have savings.
@rebeckawoods60933 ай бұрын
They talk about choosing the best thing for you financially based on your individual numbers. Will it take 2 years to save for a down payment, that's probably fine to drop investing. If you need to save for 5+years to make a down payment, you need to be investing along the way too.
@curtisjackson17957 ай бұрын
No one is paying the house off in 12 years/SMH But I do think it’s good to be debt-free /also buy a house And save for retirement
@jonathanbontrager79327 ай бұрын
1 and a half anything is possible 😊
@PinkieJoJo4 ай бұрын
If they don’t have any other debt and can pay extra each month then it can be done.
@nadinefrandsen60874 ай бұрын
Wish I would have seen this video 18 years ago
@sarunaskalvaitis86987 ай бұрын
So better buy a house or invest those 100k for 6% dividend return and grown 8%. I say invest always better.
@chad17556 ай бұрын
I doubled my finances by taking on more cheap debt, and investing in ETFs. Remortgage at 3% to earn 9% in the market? Yes please.
@michaelwoods44953 ай бұрын
"Your car is a depreciating asset." No it isn't an asset. It's consumption. When I write the check for the car, that's it; the money's gone.
@rebeckawoods60933 ай бұрын
Some people define assets as anything you can sell.
@leanneb66227 ай бұрын
I was thinking dave ramsay and Rachel
@miso19937 ай бұрын
Nice outfit ❤
@SafiullahWasiullah7 ай бұрын
U r my favourite
@JawadAli-y4m7 ай бұрын
please translat in urdu idont understand some thing
@randybatts22337 ай бұрын
In the real world most people just surviving. They not saving nothing, not even their 401k!
@TShirtAndReeboks4 ай бұрын
True! That's why she says be intentional with your money. Most of us don't start out by mapping out exactly how much we get and exactly where we want it to go every month. When we're not intentional, it makes it even easier to impulse buy!
@jjohnson25607 ай бұрын
How to double your money invest in scmi and nvda
@jeffdarleneriel56287 ай бұрын
Dave’s mythical average 12% stock return doesn’t mean that a retiree’s portfolio grows by 12% per year. If $1 million invested in stocks falls by 20%, you now have $800,000. If it rises by 25% the next year, you’re back up to $1 million. The average return of -20% and positive 25% is 2.5%. But you still only have a million bucks. Your actual return was zero.
@VitalBigras7 ай бұрын
A house will certainly not double your money 😅
@brandonchase19777 ай бұрын
In 20 or 30 years.
@VitalBigras7 ай бұрын
@@brandonchase1977 😂
@hisaddle7 ай бұрын
I bought my house 12 yrs ago for $125,000, now it is worth $396,000. I lucked out.
@TShirtAndReeboks4 ай бұрын
Our home has more than tripled in value in 15 years. I wish it didn't because all it does is increase taxes and homeowners insurance, but it has!
@diannelittle23317 ай бұрын
Rachel, it was distracting to see you looking above us as you spoke. Good points made, but I just had to listen.
@affordableliving27567 ай бұрын
Do you mean the in out in out of the camera angle?
@diannelittle23317 ай бұрын
@@affordableliving2756, no, the way she didn't look directly into the camera at us. I understand that it has been a practice for years to use a camera to the side while the speaker speaks to another camera, but what Rachel did looked like what a nervous speaker will do-look just above his audience's eyes instead of making eye contact.
@britchesmom7 ай бұрын
Good grief!! Picky picky!
@diannelittle23317 ай бұрын
@@britchesmom, LOL, bless your heart!
@Tovar.lionel7 ай бұрын
Crypto!!
@sharonbohannon12197 ай бұрын
Buffet
@terrywix68447 ай бұрын
If GOD wanted me to have patients, he would have made me a doctor. We are working on our second million. We gave up on the first...
@davidbrooks88097 ай бұрын
Most people don't have money like you and your dad they can't pay cash for a car
@PinkieJoJo4 ай бұрын
Can never could unless they tried. If you save what would be a car payment each month then when you need to buy, oh would have the cash to do so. It’s really not that complicated of a concept.
@rgkafk5djsk2914 ай бұрын
What is your secret ? How come you don't age ?
@danielg.13657 ай бұрын
Get to the point.
@waqark51997 ай бұрын
What if you have a house first and debts comes later LOL