I am 27 and I have an extremely low income from a casual job while I’m finishing my studies. Most of my wage goes to childcare expenses.I manage to invest $65 per month which is certainly better than nothing. I am due to graduate this time next year and my income will just about triple. It’s a short term struggle for long term benefit. Thank you for being realistic. While money is important, we need to LIVE as well.
@GabbyPeterson172 ай бұрын
Wow Stella! Thats amazing you are still prioritizing investing while paying childcare and studying. Definitely, the short term struggle will all be worth it. 💕
@averynmitchellАй бұрын
We’re so proud of you Stella ❤❤❤❤
@kngkrmson217919 күн бұрын
I think you're doing excellent. No worries, you're definitely gonna make it. 👍🏻 You're still very young. When I was 27, I didn't make a lot of money either. That's quite normal.
@heyitsjujuu18 күн бұрын
Yes!! Go Stella! Get high yield savings account too. I'm just starting to save more tough living in CA but it's always best to start now then later!
@stellabudgets18 күн бұрын
@@heyitsjujuuyep I have a high yield savings account as well :) I live in Australia and cost of living increases have been crazy. Previously i was making about 65k working full time but decided to step down to casual to focus on my final year of study. I was getting so burnt out so it was definitely the right decision for me!
@Alejandro-jj7yc2 ай бұрын
For me, the first 15-20k were the hardest…It really took hard work to develop the right mindset and habits in order to build the saving and investing “muscles”. Then on to 100k took the most TIME, but it was easier, if that makes sense. From 100k to 250k even easier because it starts to feel like you have a “partner” that’s helping you. I’m 30 now and my NW is just over 700k. I can definitely say that from 250k to 700k has felt pretty much like on autopilot!
@GabbyPeterson172 ай бұрын
So great to hear it just keeps getting easier!! I totally agree, the worst is that first bit where you feel like you'll never make it to 100K! Congrats on your success!!
@VBoo4592 ай бұрын
How long did it take you? and how exactly was 250k to 700k autopilot?
@Alejandro-jj7yc2 ай бұрын
I started saving and investing since I was 22, I was fortunate enough to have found a great paying job right out of college and always tried saving around 30-40% of my pay. That plus the appreciation of my home I purchased in 2021, which makes up about 150k of my total nw . The remaining balance is comprised of my retirement accounts, savings, vehicle, individual brokerage acct, etc
@Alejandro-jj7yc2 ай бұрын
But to answer your question on autopilot, I was already used to living on about 60% of my pay so just continuing to do that + my house’s appreciation and my investments’s growth has just done it on its own
@Cat-es9rqАй бұрын
@@VBoo459watch the KZbin channel ‘Passive income investing’ you will have an idea how compound interest work.
@VBoo4592 ай бұрын
You're smart, I was a financial idiot in my 20s. Now I'm 30, and only this year did I learn to save even though I've had a high salary for the last 5 years. Silly me. I feel behind lol. My goal is hopefully to have saved £100k (128kUSD) in 4 years! I'm starting a No Buy in August, wish me luck please!
@GabbyPeterson172 ай бұрын
Thank you for your comment! There’s always time to turn things around, and you are still very young in the grand scheme of life! Lots of time to catch up. Wishing you all the best on your journey to 100k!
@Kelly_ExploresАй бұрын
I can relate. I wish I knew about investing in my 20s, but I was never taught about it, despite obtaining two Bachelor’s Degrees! What is wrong with our education system? I just started investing at age 30 and the way I look at it is better late than never.
@NilalxАй бұрын
You're not alone dear..🤝 am here.. I was stupid even in my 30s also 😢now in late 30s my eyes opened.. So..its ok..
@Cat-es9rqАй бұрын
I’m same like you at 36 started investing for us folks in 30’s we must invest more than saving. The compound interest work wonders.
@teejaycarter284221 күн бұрын
Currently sitting at 98k, savings/ investment. Started investing in 2019.I was 33yo only small amount coz I wasn’t working. I was receiving government assistance as single parent /carer to my son whilst pursuing tertiary education.Finished university in 2021 and started workin but only average salary. I’m so excited to reach 100k..
@lynninfinite2 ай бұрын
I can’t until I’m at 100k net worth 🥲 growing up low income (like 20k annually) so seeing the numbers I do-this is so crazy to me. Sometimes I want to self-sabotage because it’s so foreign to me and feels unreal, but I know I need to bite my tongue and push through. It’s soooo close. I think I’ll reach it by October!
@GabbyPeterson172 ай бұрын
Wow congrats Lynn! That is very honest! I understand the self sabatage mentality. Keep crushing it! I am so excited for you!
@misssophiamae15 күн бұрын
Congrats 🎉 Hang in there, you can do this!!
@lynninfinite15 күн бұрын
@@misssophiamae thank you!! I reached it yesterday 😊☺️ the stock market went up a little so I secured that $100k number last night!
@lynninfinite15 күн бұрын
@@GabbyPeterson17 thank you! Thank you! 😊 reached it yesterday!! Onwards we go, next goal is 200k networth!!
@j1koffroad65817 күн бұрын
I’m 31 & my wife is 30. We paid off all of our debt. The last one being 20k of her credit cards. We paid that off in 5 months working our butts off working OT at our jobs plus me doing landscape on weekends. Now we only have our mortgage. We set a Goal and we did the damn thing! Now we will be investing into our retirement while also making double payments on our mortgage
@YaChiLife2 ай бұрын
The first 100k is the hardest. Finding the perfect balance is so important :) Your videos are so insightful ☺
@GabbyPeterson172 ай бұрын
I so agree!! Feels like such a long haul. Yes exactly, balance is so key to getting there sustainably! Thank you so much 💕🫶🏼
@kikiob362820 күн бұрын
My problem is knowing WHERE to invest. Do I hire a financial advisor? Any advice? Recommendation on a high yield savings account?
@marizewong536019 күн бұрын
S&P500 index funds ins a good place to start
@rubyhenshaw339118 күн бұрын
Hire a fiduciary, I did when I first saved about 10k and learnt that when you get to that amount saved up you need to focus on investing and growing my NW, it worked out so well
@danielwill291218 күн бұрын
I'd like to get in touch with your advisor, how can I reach them?
@rubyhenshaw339118 күн бұрын
Yeah, She goes by " *Growwealthy* *with* *Rachel* " I suggest you look the name up. To be honest I didn't buy the idea of letting someone handle my finance turns out to be my best decision Rachel did great
@danielwill291218 күн бұрын
TY for sharing, I've found her cheers!
@rachelh41892 ай бұрын
100k seems impossible but I’m out here grinding !! Watching your vids while working OT rn, thank you for continuing to inspire me!
@GabbyPeterson172 ай бұрын
Ahh I know! It feels insurmountable at first, but keep trekking on! It will get easier and easier as you approach. So glad I could be of some help 🫶🏼
@teejaycarter284221 күн бұрын
It is not impossible at all. Just make habit of saving and investing. I’m not there yet..but getting close. I’m on a low income /works part time and before that.I was only on government assistance . We can do it..
@symmonep95912 ай бұрын
The last 1-2min or so are CRITICAL! I hope ppl were really listening. Great tips here, thanks Gabby!💕
@GabbyPeterson172 ай бұрын
Thanks Symmone! I agree :) I appreciate the comment!
@thomass.866721 күн бұрын
Thank you so much for this video. I'm in my 20s and am struggling to find a balance between living frugal and enjoying my young life without many strings attached. I loved seeing this video as it helped me hearing a different voice in this.
@averynmitchellАй бұрын
3:27 good for you girl and thank you so much for your transparency! 😊 I’m starting at ~$43,900 gross ($21/hr) out of college. I made the mistake of not negotiating, next time! ❤❤
@averynmitchellАй бұрын
17:45 So true about automated investing tricks you into thinking you make less!! Normally I'd have $700 a week coming in and after investing it's $550 a week. It's much easier when the choice is made for you so we're not tempted to buy things we don't need
@GabbyPeterson17Ай бұрын
Totally agree!! It's such a great trick for battling lifestyle inflation. And you get used to the lower amount! Thanks for the comment 💕
@juliaraatz6229Ай бұрын
I am 24 and started to study again so I am Not able to work that much. This motivated me to Save every bit that I can !
@GabbyPeterson17Ай бұрын
@@juliaraatz6229 soon you’ll have more income to work with, but it’s great your motivated to save even when you don’t have the income
@emi-dy2 ай бұрын
Great video! Those are all such important tips. 😊 I think the "start early" and "automate" points are especially important! Looking forward to your next video. 💕
@GabbyPeterson172 ай бұрын
So true!! Even if you dont have much to contribute it still makes a huge impact with time. Thanks girl!! 💕
@Azel2472 ай бұрын
I have a tax-free account that was at $96K in Jan 2023. I just checked this morning and it's at $170k! I've only made $14k in contributions ($7k/year which is a max room for the account) so the rest is just growth.
@GabbyPeterson172 ай бұрын
That’s so cool!! That’s amazing growth! Crazy how fast things pick up at that 100k mark! Congrats 🎉
@MissTopDJ007Ай бұрын
Is there a reason why you chose traditional instead of Roth ?
@anish96georgeАй бұрын
@@MissTopDJ007 The TFSA is kinda like Roth. You contribute after tax dollars.
@LearnGermanwithMarzipanfrauАй бұрын
That was really motivating. I got through different times in life. Sometimes I had more and sometimes I had less. But the most important thing is that I used my budget plan since I was 15 years old and I always know until this day if I can afford something or not.
@GabbyPeterson17Ай бұрын
So glad to hear it! Yes that is so true, life moves in waves. That’s so cool to hear you’ve been budgeting for so long!!
@oliviaherzog67552 ай бұрын
Gabby, your segment on wanting to live on your own but realizing that that is just not going to be a reality in a HCOL area. I am outside Toronto and would love to have an apartment completely to myself, but I am coming to the realization that that will not be possible if I still want to save and invest at least 30% of my income. Your experience has given me some relief in knowing that I am not the only one in this situation.
@GabbyPeterson172 ай бұрын
Hi Olivia! I’m so glad that resonated with you! Toronto seems to be in the same boat as us over here in Vancouver. I totally feel you! And I’m actually so happy with my decision to forgo living alone. Would I have liked to do both ideally, yes. But I’m happy I chose the financial security path.
@tiffanyherzog384916 күн бұрын
You seem very genuine which I really appreciate! And I found this video to be very informative and helpful. Thank you for sharing.
@GabbyPeterson1715 күн бұрын
@@tiffanyherzog3849 that is so kind! Thank you 🫶🏼 I’m glad you found the video helpful
@gracielagarciavazquez17812 ай бұрын
I just want to say thank you so much for helping me get my priorities straight when it comes to finance. Ever since i started watching your videos i stopped wasting money like its free lol everything you advise is also sooooo good!!!!
@GabbyPeterson172 ай бұрын
Aw thats so nice to hear Gracie!! Thats amazing! Keep up the great work, I am cheering you on!
@Jkwq1Ай бұрын
As a 24 year old, December 2023 college graduate, I really needed this video. Thank you so much!
@ingridrodriguespereira1534Ай бұрын
I am 29 and achieved my first 100k 2 years ago and I will achieve 200k this year, it took 10 years to achieve 100k and 2 years and half to achieve 200k 🎉
@GabbyPeterson1729 күн бұрын
@@ingridrodriguespereira1534 that’s amazing!!! Congrats on your success. Crazy how fast it doubles 👀
@PhilRuybal22 күн бұрын
Thank you for this! Im trying to figure out how to grow my money and i also have no debt! So yhis was super motivational and i think you should make a video about investing, if you dont already have 1! New sub here lol.
@JJK-he1xnАй бұрын
I paid off my student loan debt and never felt happier. I didn’t want to rely on politics because you never know who could be elected. I also worked a lot in my teens and invested my first 10k before college. Definitely working towards 100k. Thank you so much for the video, it really helps.
@papa78662 ай бұрын
thank you for this! these are such digestible and easy to follow tips! im half way there at 31, so fingers crossed for a quick jump to 100k 😮💨🥳
@GabbyPeterson172 ай бұрын
You are so welcome! And thank you for your comment. You've got this! I am hoping for a quick 100K for you!!
@hmiller794817 күн бұрын
This was such a great video! I've watched A LOT of these types of videos (including Ramit and The Money Guys) and this one does such a great job of summarizing so many of the tips/advice found in other videos. I am going to recommend this video the next time someone asks me for an introduction to getting serious about personal finance.
@GabbyPeterson1716 күн бұрын
@@hmiller7948 that is so kind!! Thank you so much 💕 so glad you found the video helpful.
@MrXXXX012 ай бұрын
Love your videos! Also it really is crazy how fast investment growth is after hitting 100k compared to beforehand! Similar to you I'm 30 and it took me about 4 years to hit that number. Since then its nearly doubled in just over a year! People need to keep grinding because it really does get easier. Also I like that you include the psychology of dealing with money as well and not just the numbers. Its so important to build up good habits!
@GabbyPeterson172 ай бұрын
Thank you so much! 🙏🏻 So crazy how fast things pick up from $100k! I always thought people were over exaggerating but it is so true. And thank you, I completely agree. It's all about building habits and routines!
@jacquiquinlan19 күн бұрын
Love the trust in yourself point! All these points resonated though.
@psays2 ай бұрын
Just barely finish the intro and you made feel so motivated 🤓 ready to take some notes now
@GabbyPeterson172 ай бұрын
Aw that is so great to hear! I hope you enjoyed 🙏🏻
@michellenguyen49802 ай бұрын
I’m a brain injury survivor 2011 from a long boarding/ snowboarding incident (wear a helmet), started from the bottom now I’m here, now I’m 30 and it’s time where I focus on myself and love all your videos! Can you please send us all your favorite apps on computer/phone please? Thanks for everything you do and this is only the beginning! ❤ #disabilitypride #s/otoallstrokesurvivors #weareone #positivevibes #loveispurpose
@GabbyPeterson172 ай бұрын
Wow! I can’t imagine what that must be like, I am glad to hear you are on the come up after healing. Wishing you all the best 💕
@minionkoto47802 ай бұрын
moving from a 3br suburban place that we rent to our condo in the city. ❤
@syang139020 күн бұрын
Coming from a poor background... you have no idea getting a job that is NOT Minimum wage means..the fact that you say you started at 50k is mind blowing....thats considered rich already! Im over here just trying go save 10k this year... unfortunately life happens.. so 6k this year.
@GabbyPeterson1720 күн бұрын
@@syang1390 completely understand! We’re all going to have different launching points. And the lower the income the harder it is to have that extra buffer to save and invest, so congrats for saving $6k! That’s incredible
@georgina48742 ай бұрын
Beautiful hair. 💕💕
@GabbyPeterson172 ай бұрын
Thank you so much!! 💕
@derbodybuildingbiograf25 күн бұрын
It's been amazingly helpful! 🙏
@mp224222 ай бұрын
lotta great points! great video gabby
@GabbyPeterson172 ай бұрын
Thank you!! Glad you found the video helpful :)
@sydmacdonald2 ай бұрын
Great tips, love watching your videos!🥰
@GabbyPeterson172 ай бұрын
Thank you!! So nice to hear you are enjoying my videos 🩵
@minzyminz99872 ай бұрын
Ramit sethi really changed my psychology with money
@GabbyPeterson17Ай бұрын
Completely agree! He has it figured out. I love his thoughts on personal finance
@mercaidesmartell2 ай бұрын
Everyone’s saying invest I need a step by step how to and into what companies 😭😭
@GabbyPeterson17Ай бұрын
Totally fair! I recommend finding low cost index funds that target indexes like the S&P or target retirement index funds ( google target date index funds for the year you plan on retiring) and start there! These will grow with the general economy and are low cost to you! I am also not a financial advisor though so take this with a grain of salt ☺️
@GrowthBeyondSelfLimits2 ай бұрын
Do you have any suggestions on tax deferred accounts? Thank you for the video! My first time finding your channel ❤
@GabbyPeterson17Ай бұрын
Hi! It will depend on your country, I would do some basic googling on what tax free or tax advantaged accounts are available to you
@GabrielDaGoDDD19 күн бұрын
With considering large purchases I use the 24 hour rule it helps with impulse purchases. Shit helps
@orjvalКүн бұрын
For me is like a week, 24 hours is not enough for the impulse to fade
@alexismacedo33152 ай бұрын
Hey Gabby! Your videos are not only informative, but engaging and encouraging, I appreciate how you explained each step! I’m re-inspired to continue building net worth in my late twenties, while balancing value categories. One question I had (sorry if I missed this), does your first 100k include retirement accounts or is it just an individual brokerage you can access before retirement age? Thank you❤
@Yugiboii2 ай бұрын
100k in total investable assets
@GabbyPeterson172 ай бұрын
Hi Alexis! Thank you so much for your comment, that is so great to hear. Glad you are reinspired on your net worth journey! Yes any investment at all is definitely included, I also included my emergency and sinking funds in my total! So around 70-80k was investments and the rest savings!
@grant9047Ай бұрын
love this video, you said and explained everything very clearly
@GabbyPeterson17Ай бұрын
Thank you!! So glad it was helpful!
@grant9047Ай бұрын
@@GabbyPeterson17absolutely
@lynninfinite2 ай бұрын
I want my own home too but ummm I live in California 😂😂😂 so maybe I should stay put with my mom as long as I can.
@tushabeann702711 сағат бұрын
Could you recommend on where we can best invest our money
@GabbyPeterson179 сағат бұрын
I am not a financial advisor so take this with a grain of salt but I would recommend getting a brokerage or investing account with a bank or company that has minimal charges/ costs. For example, no buy/ sell fees. This way you have less costs involved in investing. Next I would recommend setting up an automatic investment in some sort of general market index fund or ETF. This will give you exposure to the overall market and will be low risk. automate that investment for every paycheck and then forget about it! I also have a How to Invest video you can watch! Hope this helps.
@nazdani915Ай бұрын
Hi Gabby, can you make a video about tax advantage accounts ?? I need more details. 🌼
@rossedwardmiller23 күн бұрын
20:02 casually acknowledging/pointing out how jacked the US healthcare system is.
@Divyv5202 ай бұрын
Hey Gabby , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what you think ?
@blink74342 ай бұрын
i make $300 a week 😂 but i don’t have any bills should i invest 100% of my income or make more money first
@GabbyPeterson172 ай бұрын
I think it’s always a great time to invest! You could split your income up into, investments, savings and if you wanted some money for personal spending/ enjoyment. But if you wanted to be a financial wizard you could invest it all
@AmberRoseMilesАй бұрын
How do I start ? Download fidelity and open a Roth IRA? I have 1000 I can invest now
@PLANNERMONKEYCOАй бұрын
Where do you put your investment per month?
@krystynanesterenko723515 күн бұрын
Thank you ♥️
@dirtreacts13 күн бұрын
How do you only have 4K subs? Great vid!
@GabbyPeterson179 күн бұрын
Thank you!! Glad you enjoyed :)
@averynmitchellАй бұрын
Could you please list an amazon affiliate link with the microphone you use? Would love to purchase this for myself and support you via commission. Thank you! :)
@GabbyPeterson17Ай бұрын
Hi Avery! Apologies on the delay. Yes of course here is the link. I have the DJI Mic 2's! amzn.to/4bImqxt
@averynmitchell17 күн бұрын
@@GabbyPeterson17 Thank you Gabby! :) No worries at all for the delay. It’s great to see you online and nice to meet you virtually!
@charleshunt52121 күн бұрын
Investing in this channel at 4.7k subscribers. Very undervalued!
@GabbyPeterson1718 күн бұрын
hahaha i love that!!! Thank you
@bigshotadventur18Ай бұрын
With the interest earned, are yourl paying tax on that which slows down the growth
@GabbyPeterson17Ай бұрын
Yes I would need to pay tax on gains but only in a non-reg account or other account that is taxed. My tax free account will be un-taxed
@tonyd30102 ай бұрын
Hi u said 92000$ in cad or was it usd also either way great content 👍 keep it up
@GabbyPeterson172 ай бұрын
Hi! I am in Canada so all will be in CAD! Thank you for your comment :)
@Courtney-tk9jx23 күн бұрын
I always hear to invest your money. And you said stocks but I do not understand that at all. It’s scary and I don’t know where to start
@GabbyPeterson1723 күн бұрын
I have a How to Invest video that may help clear up some questions! If you go to my finance playlist you can find it there 💕
@Courtney-tk9jx23 күн бұрын
@@GabbyPeterson17 thanks so much! Brand new to your channel, already love ❤️
@christineb772527 күн бұрын
I just discovered you! And I love it! Great to watch someone who lives in the same city as me 🩵 can't wait to watch your other videos! Happy summer ☀️
@evanchisamorejohnston58192 ай бұрын
What no intro?
@GabbyPeterson172 ай бұрын
Just a mini one today!
@evanchisamorejohnston58192 ай бұрын
@@GabbyPeterson17fair enough, it’s clear you put a lot of work into the intros and j quite enjoy them
@AaronVillatoroLuna2 ай бұрын
Hi.
@GabbyPeterson172 ай бұрын
Hi! 👋🏼
@donaldlyons17Ай бұрын
Yeah, sounds like someone makes plenty compared to expenses.... Don't understand why people don't understand can't have money and save money so there is really no way to save 100K and not miss out of stuff.... The money to do stuff can't also be saved!!! WTF THAT SOUNDS LIKE CR*P TO ME!!!!!!
@breannegeorge9924Ай бұрын
30s is still young, just so you know lol
@kateaustin13572 ай бұрын
Super insightful video Gabby, thanks for sharing!! You have really inspired me to invest. I love to save, but now it’s time to shift the mindset and not be so scared of investing lol. Automated investing was exactly what I needed, it’s set up and I’m on month 3! 🫶🏼🫶🏼
@GabbyPeterson172 ай бұрын
Thank you so much Kate! That is so cool to hear, I am glad you took that first step towards investing more! Its a scary shift from saving to investing, but definitely worth it 💕
@kateaustin13572 ай бұрын
@@GabbyPeterson17 Thank you Gabby! Feeling inspired to keep up with my investing goals and work out a plan to still save but find a good balance between the two 💕
@amanda_elllis2 ай бұрын
I love this video! I’m a little more than halfway to 100k in my investment accounts! P.s How old are you? 🫶🏻💕
@GabbyPeterson172 ай бұрын
Thanks Amanda! Congrats on being halfway, the worst is behind you!! I am 29!