Signs You're Doing Well Financially (Even if it doesn't feel like it)

[@humphrey]

My free newsletter and templates: beacons.ai/humphreytalks/freedownloads

[@Daikini0]

Hey Humphrey, I made my financial plan, and I realized you are wrong about average SNP500 10% growth. A bit. Technically not, but in practice yes. You say 10% average growth is produced by SNP500 on long term, which is true, but when you calculate compound interest, average is not a good indicator, since it is based on addition and not multiplication. On multiplication and root base if you check snp500 growth ( for example between 1978-2023) is 45.61x. that means if you take the 46 root of 45.61, you get approx. 8.66% growth. This number is not far from 10%, but you get a good 1.5% difference, which adds up a decent difference in pace of 46 years. However you are pretty much correct in 10% growth if you include ~1.4% dividend as well. Anyways thanks for your videos, you really inspire people like me to put away money for the future in stocks, and make me more comfortable on losses on a bad day to enjoy growth on a good day, because actually I have 20 years to grow my wealth. My biggest mistake was that I stopped investing 10 years ago.

[@redmankj7999]

Please can you help me ? Mr. Humphrey Yang.

[@gregbaxter6162]

Do you just look on KZbin and take other people’s videos? Are you that unoriginal?

[@Dashawn.B]

When your bills are on auto pay. You’re doing well financially.

[@Weekinthelife15]

😂

[@Mbregs28]

Lmao 😂 this comment wins

[@dyates6380]

Actually, auto pay is one of the worst things you can set up. Have fun trying to stop them if you leave the contract with the company or utility. I've been there, and with one cable company it took eight months and a LOT of phone calls to have them stop charging and taking funds and refund my money, even WITH the bank trying to help me out. Just use your own bank's free only pay feature like I do - but yes, I DO get the point of your post and yep, correct.

[@Dashawn.B]

@@dyates6380 That’s why you have more than one bank account.

[@petewilcox3354]

@@dyates6380 totally agree...I dont have anything on auto pay -- my next car payment is due july 14th...my credit score is over 790.

[@kevinramirez7408]

One of the most valuable “things” someone can have is ENOUGH

[@subodhpatil8227]

Agreed but that point also comes at a certain ceiling

[@Bigboss-xe6lm]

Yes. And the feeling that you can buy whatever but dont need to because you are not a slave anymore.

[@cristiannaJ126]

My husband and I are doing pretty well. It is very recent for us, we struggled for years throughout college, working multiple jobs just to get through, and are now pretty stable. Our life goal is to travel - not have things. We save towards trips but live in a small house, have middle range cars, and don’t buy new things. This video makes me feel pretty good about where we are trending! I save 20% of my income monthly, with a potion into the stock market and a portion into a high yield savings account. We don’t have much yet, but we are trending in the right direction. Thanks for this video!!

[@Peglegkickboxer]

Travel is more expensive than owning things and is a major way people lose everything. People throw out thousands on flights, hotels, and rentals unless you are using points, hostels, trains, public transport, going to 3rd world countries.

[@VidimusWolf]

​@@Peglegkickboxer "Throw out" is a strange way to put it. You spend your money to gain experiences that you will treasure and cherish for your entire life. The expensive phone? The expensive car? You are probably going to forget that within the next few years. But that amazing trip you took 20 years ago with your partner? You take that to the grave.

[@HeyItsAvi90]

I feel I've made it when I go to the grocery store and just grab the food I want without looking at the prices.

[@lillianhubl8461]

Still wrong. I don't care how much money is in my bank I will always look for the best deal . Save always and everywhere.

[@meleenabradley3017]

​@lillianhubl8461 My husband does the same. He's really good 👍 I try to respect him by buying what I want when there's deals.

[@fun2badult]

I don't think it's the grocery store. It's going to a fancy steak house and ordering what I want without even caring about the prices

[@HeyItsAvi90]

@@fun2badult Good for you, people have different levels, some would say choosing a ferrari

[@JudgeyJudgeyable]

This is me in the produce aisle

[@dm96177]

I’m glad you mentioned the social circles. I stopped being friends with people who cared so much about material things because they were toxic. I’m extremely financially stable and very proud of that, I’m not going to blow it on expensive items just for show.

[@hunterphan5506]

I’m definitely not bragging about my wealth. It’s because I have none. 🤷‍♂️

[@cheeseman9967]

Yes, then you and I can swap financial secrets!😂

[@callyballybee]

This all seems reasonable. I’ve always been on a lower income but thankfully never really had any debt. I used to think I was doing poorly financially until I realised the value in that. Decided to make my goal for the year to be more financially literate and work on having savings (I had none after a big international move). So far so good! I feel better after watching this video :)

[@MaddieKinsss]

I absolutely love this video! You hit the nail on the head when it comes to flaunting wealth. I lived in Vegas & worked alongside with a handful of very “successful” people. I can say every single one of them had beautiful multi-million dollar homes, a minimum of 3 luxury vehicles each, and every single one of them had little to no money. Cards got declined at in n out, bills upwards of 30-50k were stacking up just to maintain each month. To the rest of their friends, employees, and the outside world, you would never assume they were struggling and it was all a show.

[@RaymondKeen.]

Nobody can become financially successful overnight. 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. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[@Michaelparker12]

I think it's not always about 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

[@KarenLavia]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@KarenLavia]

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@Hectorkante]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.

[@chasealvarez5209]

Jeez. Hadn't even considered myself doing well. Important and much needed reality check as I move forward.

[@louis3586]

I have been good with money since I first started working at 16. At that age, I didn’t spend a dime. At one point my parents were encouraging me to treat myself and go somewhere to eat. I started a Roth IRA when I was 17 with the money I didn’t spend when I was 16. Then I started investing when I turned 18 but now I’m 20 and I’ve had some set backs in which I got suckered into materialistic items. I’m trying to break out of that habit although I’m not off the walls with spending but I had a goal this year to reach $25k in investments by the end of this year and I already crushed my goal by $1.5k in September. I plan on leaving that money there and never touching it until it’s time for me to retire.

[@leisure057blank3]

That’s great!

[@KingCzar29]

Good luck! My vice is updating technology. That's the only time I spend real money. New phone every year and smart watch and head phones. Senseless spending. Trying to make 2024 the year I keep the same phone without an upgrade

[@LoomerCuber]

Good luck bro sounds like your off to a good start I’m also 20 and that’s just makes me happy that people my age are doing great. Hope you keep it up

[@andrewsherrillmusic]

Bravo!

[@aaron___6014]

You should treat yourself and enjoy your youth. You only get one chance and a fat bank account that keeps getting fatter won't add much to your security or happiness.

[@Willycheng590]

At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.

[@samuraitadpole5459]

I'm glad I came to this conclusion at 23, I don't want to have a lot of money that's less valuable

[@Novakissla]

I want to also take my finances into consideration and put myself in order before it's too late. How are you doing it Sir?

[@Willycheng590]

Well, I've gotten into a plethora of assets with $73k spread across stocks (options and futures) for the short term and Roth IRA, index funds, and ETFs, for the long term. I've been investing with help from a pro fund manager, Herman W Jonas who oversees my investments. Now I sit back and reap my dividends while I just reinvest at intervals.

[@Vikturneer]

@@Willycheng590 Do not forget that prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.

[@brhoden]

No idea who you are, but I'm really happy you've come to that realization! I'm 31 and just came to that realization a year ago. I hope life gets easier and more meaningful for you here on out, my friend.

[@dongshuowu3454]

My favorite days are dividend payment days. Thanks for another great video.

[@christopherhughes7970]

As a high income family we have a lot of friends in very expensive houses. While we bought a nice house we bought well within our means and did a 15 year mortgage so we could afford investment properties and have our mortgage paid off by the time our kids go to college. Just bought our second property cash with all the money we havent been paying towards a huge mortgage like our friends/coworkers.

[@MaSa-bp5qe]

Time vs money. Some want more money and are happy living life below their means. Others see that their time on earth is finite and would prefer living it luxury.

[@Peglegkickboxer]

Investment properties are not really the best way to go; it's pretty risky. Better off putting those six figures into ETFs

[@thomaskelly6472]

I've become wealthy by doing all the things you've mentioned including living frugally below your means. Even though I retired at 39 and now am 67 it is so ingrained in me to live within my means I cant stop even though quite unnecessary!

[@blaquopaque]

I have been self managing my portfolio for the past 5 years and also have $1m in assets under management. I have underperformed the past 2 years and this has got me worried, Are there anyways to turn this around or should i sell off some assets?

[@Curbalnk]

Avoid tax complications; consult a financial advisor to restructure your portfolio instead of selling off assets.

[@greekbarrios]

Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my advisr are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.

[@kansasmile]

How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.

[@Galworld761]

How is that possible? Equity index funds have been up. Last year was a 20% return year. Get off social media and stop shopping for advisors on KZbin. Clearly, you are taking bad advice.

[@PurposeTravel]

​@@Galworld761these are scammers/bots. They are all over financially-centered KZbinr's video comments. It's terrible. I just report them as I see them.

[@cliftonixs]

If you do not worry about the price of everyday things, you are doing financially well. It baffles me that eggs increase by a dollar gets national news coverage and everyone complains, but those same folks are willing to purchase $40k car an hour after they walk into a dealership.

[@_MoneyMike_]

Or it can mean that you’re financially irresponsible

[@jimbooo1365]

One of the richest dudes I met drove a 30 year old rusty old toyota, walked around in daggy shorts and torn singlet and don't think he'd shaved for at least a couple of years. I didn't realise who he was until a work mate said "do you have any idea who that bloke you spoke to is? Hes worth at least tens of millions". Nice bloke too, he was very friendly and seemed very down to earth. Good on him.

[@Evelyn32423]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $150k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

[@Scarlett34568]

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@Christian67337]

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

[@Damon4324]

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

[@Christian67337]

@@Damon4324 Marisa Michelle Litwinsky is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

[@Damon4324]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@marklechadores5574]

I have most of those signs but the path is still rocky so I have to stay consistent.

[@monteeposey4255]

I enjoy your channel! Finally, after I turned 50… My financial sense kicked in. I don’t have a car payment. I don’t have any credit card debt and I have enough savings. If something went down, I could take care of it. Would love to have some information on ways to improve your wealth after the age of 55. Unfortunately I have gotten started pretty late but I’m on the right track I think.

[@vmd0734]

Dang. Watching videos like this make me feel so proud of how well I’m doing at 33. Got my first off-the-books job at 12 years old (of my own volition and no one forced me, of course), and have always tried to make good decisions with my money. I have 2 cash savings accounts and one Roth IRA that I should be maxing out for the year within the next 2 months. Watching this video had a kind of effect like “well duh, doesn’t everyone do this?” 😊 Go us!

[@jpphd5685]

I have always been good with money. Saving, living below my means, mostly spending on what I need vs what I want etc. Switching into high gear because I want to FIRE at 60, just turned 53 yesterday. So I have a lot to do… My thing now is I have to learn how to be patient and remember I am working towards a mid-long term goal. And not look at the bank accounts every week. Especially in the beginning, doing things differently since August.

[@nicolejennings8389]

I look at bank accounts daily, but I used to be a bank teller. Just a habit to keep me updated on changes.

[@passiveincomeadventures]

We recently retired early on passive income, yet we feel we are still not doing well financially! I'm not sure if we'll ever feel we've "arrived!" But that's what makes the adventure more interesting, always ways to improve and grow

[@seanster04]

I love being very frugal and am very proud of it.

[@Courtney-Alice-Gargani]

I don’t feel I’m doing well. I’m building it quietly. My dad raised me not to brag about your wealth. I am frugal.

[@humphrey]

If you're commenting on vidoes like this all the time im sure you are more aware than others! which is the first step

[@youtubesucks8024]

My dad didn’t even raise me

[@leinadliu5337]

Yeah I'm probably doing better than you

[@sw6118]

Good for you! By living well, within your means, you have more options to keep or change jobs, where you live, etc. Getting bang for your buck becomes a game. You might like the book “Your Money or Your Life” by Joe Dominguez and Vicki Robin.

[@herbankidd]

Being frugal is for poor people

[@pinkboirichy]

Thanks for making this video and putting it in perspective, it's always hard to see everything you've accomplished when you're in the weeds!

[@FrancisofMaine]

This makes me feel way better about my situation. Thanks for the template. I don't want to spend money on a budget app that cost money and is linked to my account(s). I meet all these criteria, very healthy nest 🥚 egg, 0 debt 📈, and a some what diverse portfolio. None of the warning signs.Slowly but steadily growing my networth. This got my sub. Thank you Humphrey.

[@joshknight8973]

Had this talk with a coworker. Many coworkers always borrowing money for bills. I’m just thankful I have said the hostess “can’t, I’m broke”

[@striperkid]

I have (2) close friends who we openly talk financials with. We all push one another and offer advice on financial issues. We try to keep a low profile to outsiders as we build wealth.

[@xbjrrtc]

Me, getting an unexpected windfall: Teehee, now I can put more into my HYSA and/or investment account 🤭 It's taken YEARS to get to this point. I used to spend like crazy and rack up credit card debt. I'm so glad I improved my financial habits

[@michaelswami]

Thank you for this. I got incredibly lucky to be born where I was. On this day of thanks, I am thankful for that.

[@Madchris8828]

Yeah i have to keep reminding myself that though im nowhere near my investment goal im making progress overall in the right direction. Sometimes we all want to be at the finish line, life rarely works that way. Great video 👍

[@humphrey]

Nice, exactly Chris!

[@jmc8076]

Life is a marathon not race. It’s also not a success only path. We’ve been conditioned to compare and compete. Dont.

[@ChosenOneDan]

over $1000 a month for a car payment!? yea I can see why people are broke lol. my mortgage payments are less than $1000 a month.... live poor and you'll be rich tbh.@@humphrey

[@lolley1100]

About the comparison ordeal. Work in a luxury dealership such as mercedes, bmw, Audi etc. You’ll quickly realize you make more money than the vast majority of it’s clientele. The actual wealthy clientele who buys the $150k+ models still tend to pick up groceries in “regular traffic” vehicles. Not always the case, but it’s a strong trend. Food for thought!

[@youtubesucks8024]

It’s not useful to me that the majority of the world lives on $5 a day when gas is $5 per gallon. I’ve never found Ethiopian economic data to be very helpful or relevant to living in San Diego.

[@sara-mu3si]

I think that comparison is just to broaden our definition of who all could be considered “well off.” Do you think you would be better or worse off living on $5 a day in Ethiopia?

[@upon1vp]

San Diego sux. Get out!

[@fixedG]

The point about conflating wealth and social status is well put. Your example on cars is especially pertinent because not only is there the same old "keeping up with the Jones's" angle to it that's more prevalent than ever, aspiring influencers themselves might also be lured by the idea that it's not a purchase, it's an investment because they'll be able to make monetized content for it. But time and time again, we've seen the monetization of content is not a mature, well-established business and it's subject to drastic changes outside of the creator's control.

[@tool.follower2813]

I do agree with all of the recommendations. I personally highly suggest the mantra of save first, then spend what's leftover. My finances/wealth substantially improved after I could calculate my budget to know how much of my paycheck I CAN save. Then SAVED it immediately when paid. That really helped fight away the urge to spend what I see in my accounts as I walked past any shiny objects.

[@randxalthor]

Great video! One important note is that 4% is not a retirement withdrawal rate for perpetuity. It's for 30 years with a 95% rate of success. The numbers came from the Trinity study. A long/early retirement means living off of about 3% per year in order to succeed.

[@humphrey]

you are spot on, thanks for clarifying for me, i may have been too brash with what i said there

[@jasonbroom7147]

IRL, using a pretty simple bucket system, 4% is still VERY much a feasible withdrawal rate. In fact, the current 10-year T-bill is returning almost 5%, so unless you're calculating in a ton of inflation into your initial 3% withdrawal rate, you're leaving a lot of money out of your potential retirement spending. The long-term (75+ years) rate of return on the stock market is closer to 12%, but you think you can only take out 3%? Your kids will be glad you felt that way, some day.

[@prakash.srn.17]

@@jasonbroom7147you’d still have to pay tax on that t bill unless you’re pulling out of a roth. So 3% is still a decent benchmark

[@18_rabbit]

@@jasonbroom7147 no such thing as looking at the stock mkt on a 75 yr time span/historical. That is meaningless.

[@phillips8366]

Agreed, Jason. The author of the Trinity Study even says that 4% is as safe as it gets. I think some people are a bit too cautious, but to each their own.

[@backliteyes]

I know that I’m doing well financially but I feel like I’m falling behind because my income has gone up maybe 10% over the last 3 years but the cost of living has gone up 30% in that time frame due to high inflation.

[@arcaneteresa]

This is so helpful! I’ve learned to much from your channel, and am finally getting my financial life together.

[@2bfrank657]

Excellent point about money becoming boring. I've always been fairly restrained with my spending, and this has led to me being in a good position financially. Once in a blue moon though, I'll splash out on a nice toy of some sort. When I do this, it reminds me that "hey, this money stuff and what it can buy is pretty sweet, I should get more of it". The occasional treat incentivises earning and careful financial management.

[@markmedica5945]

Wow .. I'm doing better than I thought. This video totally changed my mood. I love ur content

[@VikingGamingUK]

I've been looking for excel sheets to help track spending and this is the best one I've seen. Thanks!

[@TheRustedPixel]

None of my bills surprise me but I did get a recent surprise bill to pay. My dog developed diabetes and very soon went blind. To pay for eye surgery for a dog and to keep her diabetes under control forced myself and my partner to adjust and prepare for these new expenses. Luckily, we had plenty in an emergency fund to pay for the operation and we're replenishing our savings fund again.

[@Zulonix]

The only debt I’ve had since 1985 was 5 years for a house and another 5 years after buying a condo. I’ve always hated debt with a passion and have always lived below my means.

[@lidattruong1105]

You can't use the world as a comparison when your living expenses are much higher. It really is region dependent. Also, comparing to the American average isn't great if the average American is struggling.

[@ordinaryhuman5645]

The average American has so many luxuries and safety nets that they have forgotten what struggling actually looks like.

[@ZackGoFast]

In my third year of six figure earnings. Still drive a spraypainted 96 toyota corolla. Bought it for 1200 two years ago. Will continue to drive it untill the wheels fall off. I regularly get looked down on for my car but i could not care less what others think. Ive drove for two years on what most people spend on a car payment in a month or two. The extra goes into my roth ira.

[@shailee9762]

I used to drive a 1997 Toyota Corolla. I learned that people pity me and more willing to help me if I have car problems. People helped me change the car tires when I had a flat. They didn’t know that I made 6 figures a year.

[@HermanWillems]

90k is not six figure.

[@jiminibops]

Thanks for telling me I'm doing really good. I felt like I was but an outside perspective is always very helpful. Currently my expenses are about $1,100 a month without food or entertainment and I bring home net $3000 monthly. I struggled for a really long time but after covid I have appreciated a hockey stick. I feel like the majority of my decisions worked out the best for me even though there were some rocky patches. Net worth now after paying off all debt is about 250k. If I live for 10 more years my retirement will be secured at $4500 a month for the rest of my life and I'll retire at 57. I've worked really, REALLY hard, since 2020 to make this possible.

[@insertrandomnamehere764]

I'm doing great! I have my very own cardboard box and an overpass.

[@darleneatkinson3906]

Humphrey, enjoy this video, in 2014 I begin tracking my spending habits, I can see I improve and my accounts goes up every month I actually have and habit to see how much I gain month after month it continually goes up so far, That makes me feel happy. Have and excellent week.

[@Garejoor]

I feel this video needs to be played in a loop at Americana, Glendale, CA

[@FelixNaim-cc5jm]

🤣🤣🤣🤣🤣 Yoooooo

[@Garejoor]

@@FelixNaim-cc5jmu feel me?

[@eiji81]

Great vid, it really puts things in perspective when you have metrics to look at.

[@humphrey]

Glad you think so!

[@patrickf3119]

i only use my CCs for the convenience. I only put on the cards what I can afford to pay off each month. I am fortunate that this has continued to be the way I live even in retirement. I also stopped comparing myself to others. Just care about what I have and how it allows me to live the retirement life I planned for years ago. Anyway, just enjoyed this video. Thanks for what you do.

[@thomashuang8401]

I've def been there myself thinking im not doing that well, but with no debt and a ton of investments and pretty solid career I think im doing ok overall

[@robinsonmertilus5232]

Lamborghini is an extreme example. Same idea applies to something like buying a Tesla. It signals “wealth” or “success”, but in some cases, it’s carrying a $700 monthly note and stress.

[@tommyortiz6623]

Yes rediculous

[@bhnurse16]

I had an uber driver who had a Tesla Model X but talked about how he was broke. I could buy a Tesla in cash but I prefer to save my money. I'll drive my Honda til it dies lol

[@Joshua-ix4bh]

Lamborghini is the proper example, tesla is a different product

[@HermanWillems]

You are right and wrong. I bought a Tesla and yes people where surprised because i even wear cheap tshirts untill there are holes in them and even then i wear them and keep them lol. But i bought a 2022 Tesla Model 3 second hand for 40k with almost no miles on it. And bought it cash. And i calculated its cheaper than ALL other cars i owned before including write off. But it depends on where u live probably here in my country gasoline is very very expensive. And electricity can be obtained cheap by solar panels and dynamic electricity prices. We pay like ~10 Dollar a gallon to give u an idea. While i can sometimes charge my car with negative electricity prices in the summer. Or maximum 25 cents per kWh at work.. etc. Also EV's are exempt from roadtax here. So here a Tesla both shows your wealthy which was not my goal.. but can also be a way to drive super cheap and bump up your savingsrate if u have the cash for it.

[@redline9221]

Urus is also a rebadged Audi Q7 lol, but for 300k

[@TheSilvercue]

A sign of doing well financially is when you realise the power of compound interest & growth. That is usually when you start calculating it on a spreadsheet, playing with the variables (monthly input and growth %). Then you know.

[@PatrickLloyd-]

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

[@Nernst96]

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

[@NorinaRozila]

Mr Yang, thank you so much for your valuable advice, which my parents didn't give me. The most important thing for me, isn't being rich. It is having enough money, especially during emergency. And not doing foolish stuff, like impressing people while blowing a hole in my pocket. I don't own a property, vehicle, credit card, I don't have debts. And I can safely say, I don't have to worry about retirement. From Singapore

[@takyiyakvsi]

I'm glad I found you. Keep up the good work.

[@kevinmott9046]

Is the average car today really $67000!!??? Sheesh, glad i’ve got a Toyota. Should last me from 28-retirement age 😂

[@Hyper_Driven]

Now you have the status game from people who try to out do each other about who spends the least.

[@clauthequeen]

I know I’m doing good financially coz I plan to work til I’m 80 not because I need the money… but because I love my profession.❤

[@Williamjame444]

Becoming a good trader takes time and patience. When i first got into trading i was liquidated twice, and lost my entire mortgage deposit. I could have given up, but decided to learn how to trade and put it into practice. 4 years later and i am glad i made that decision.

[@MizThe]

It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points

[@AndreaRoberto-wm3th]

As a beginner who don't understand how trading really works and you really want to make profit from it. I will advise you to first start working with an expert

[@AndreaRoberto-wm3th]

Credits goes to " Melissa Elise Robinson" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@jacksonbilly9979]

I wanna see you do an episode with the money guy show. Your are very clever and I think that will be a great conversation

[@soorensuroosh]

I just feel lucky that I can make rent on time and cook healthy food at home. Good enough for me. Moving from one of the wealthiest states to one of the poorest has made me realize how lucky I am.

[@lawithdominie2687]

You're so on point. I feel better now w/ my financial situation.

[@Biditchoun]

I guess I'm doing well financially since I don't signal my wealth, it's totally not because I can't afford it ; I also always reach my target by having my account in the negative after the 450€ rent and around 100€ of food per month (haven't bought any clothe for five years or anything like that), gotta love being a student without being able to have a job

[@touchthebeard7577]

This is so useful. I wish I was taught this at school. Thank you!

[@TigerTsunami404]

I'm such a boring 41yr old multi-millionaire literally the guy on the plane you'd never think as I'm really not into material things, drive a paid off Honda Accord, and just stay consistent on investing. I never came from money so I take a very traditional approach to not having debt, maxing 401k, maxing ESPP, & paying down the mortgage. To me it's just numbers and finances aren't emotional. Good luck, anyone can crush it financially if you short term sacrifice for long term growth results. Make your money work for you

[@ronmortimer252]

Money is one of those necessities that can so easily become a trap. Someone asked Rockefeller once, "How much money is enough?" He famously replied, "A little more than I have." I think we need a balance. Money is necessary for this life, the gospel of Christ is necessary for eternity. Don't live in this life only.

[@welon17]

Right on track! I need to watch my expenses a bit closer though, I could be having more left for month's end

[@yoosyeni]

Everyone around me thinks personal finance is boring, but I love the topic! No one listens to me when I recommend budgeting and then they ask me: how the hell did you save so much money so fast?! Your income is 2 times lower than mine! 😂 That is funny and sad at the same time

[@rssmith289]

Your videos are so well made. I wrote down these points that you made. Thirty years ago I was not doing well but with a little common sense and budgeting (and watching your videos) I remain engaged about money. I never tire about money because we all need it for survival. Thank you for another excellent video.

[@alfredbarrera9617]

I completely agree with all the points. I'm doing well on all of them so i feel im on the right path, but i would like to take it to the next level which is finding new ways of income and that requires more like a pro-active approach. I'm just starting so my first goal is to reach 100k asap.

[@Zaerki]

#6 is incredibly important. You'll always be influenced by the Joneses until you recognize and remove that perspective entirely from your brain.

[@UnknownUnitW10]

As a millennial I'm definitely behind the 8 ball. Mostly when it comes to home ownership. I do have zero debt, & diversified savings. I own my vehicle, and have plenty to live on. 780 credit but gd I live in Florida and it's absolutely not worth taking out a loan for real estate. Charging half million plus for homes that should be 100-200k max.

[@charlespaul6725]

Come to Canada 1.2mill avg

[@ScorpioPL]

"Doing well financially" & "manageable debt". Eastern Europe may be poorer but no one in their right mind would string the words "well" and "debt" in one sentence.

[@phyllis2866]

always great to put things into perspective -- thank you for this!! much needed.

[@humphrey]

Glad it was helpful!

[@soliarv]

I downloaded you budget/expenses excel file and love it! Thank you!

[@frankyu6984]

The 4% example is flawed because it strategizes maintaining the original principal which is not necessary. You can die with nothing.

[@TheSilvercue]

Most people don’t want to die with nothing, they want to live with freedom and leave the pot of money to their children.

[@isay207]

Want to ease the way for grandchildren college dp on a house

[@JeffGrubich]

This spreadsheet is absolutely genius. Thank you for this! Subscribed!

[@casualsuede]

Technically the amount to retire at $40k and $100 is incorrect if you live in most western countries, as it does not take into account social security, pensions, social insurance etc...

[@appleztooranges]

After paying house off at 31 I feel like there was no more objective in life. 6 years later I wish I did stocks and invested

[@blakemorgan8450]

Small nitpick, the 4% rule from the Trinity study was only for 30 year periods. If your retirement lasts longer than 30 years, it has a much higher chance of failure. Early retirees should use a lower SWR.

[@kaamilm02]

Sounds corny but since ive been subbed my life is actually turning better

[@bottomtiercollector]

34 years old, broke over the average salary this year. We have a $5k emergency fund, our mortgage and 2 cars combine for about 28% of our monthly take home income... Still doesn't feel like we're building weath, our emergency fund deals with the death of 1000 cuts due to unaccounted for payments that happen because of life but we restock it with any annual bonus or tax refund... I plan on picking up overtime and then my wife and I are getting serious about paying off debt early and sticking to our budget. We shall see where these good decisions take us.

[@angelomarcustodio4898]

Thanks for the video…. It made me look at things another way and it felt great!

[@humphrey]

Glad to hear it!

[@UKBornin1971]

Sounds like I'm doing well, feel like I am too, love your videos bro.👍🏾

[@humphrey]

You must be!

[@JMRN22]

You're doing a great job!!! I really like Hump Days. 🎉

[@amelia-rose2992]

The status symbol of a fancy car will wear off so fast. A car is literally a tool that gets you places. Who cares what it looks like?

[@jcervantes713]

I started in my early 20s investing in myself and began to save as much as possible. At the age of 16 and until the age of 28 I work two or three jobs and was able to obtained my four year degree in a mere 4.5 years @ the age of 23. After graduation still continued to work a full time job, while working a part time. Began investing in the real estate market at the age of 26. Now at the age of 32, I have several real estate under my name. Also,thankfully I have obtain a few sport / and other vehicles paid off. I am now in sales in the HVAC industry and never turned back. My net worth is above the 2 million mark now. I am not here to boast, but to let everyone one know that hard-work really pays off although this may sound cliche. 🙏

[@Kate.Sangalang]

Yes, wealth is when convenience is a priority 😄

[@pdruiz2005]

Nice! I am doing 6 out of 7. Which is great! My only trouble is manageable debt-these damn student loans. But other than that it’s looking good!

[@danielmcclorey6606]

Im 49, I have 83k in the bank, about 2/3 of that are in CD. I also have 14k in cash in a safety deposit box. I am very frugal, because in the past I spent everything. I dont have a career job, so I live very cautiously and respect every dollar I make. Life is tough, save your money when your young, work hard, itll pay off later.

[@josephj6521]

No matter how much you earn, aim to save 20% to 30% of your salary. If that means living with your parents when starting out or getting the cheapest accommodation, it’s a must to get started. If you do live with your parents when young, you should be able to save over 50%! Believe me, doing this will set up up into your 30s and beyond. It’s the only time you’ll be saving so much until you become debt-free after completing your mortgage when you’re older.

[@wildfoodietours]

Saving an investing money can feel like a drag, but start early and learn to live on less to achieve success in the future.

[@c.t.u.o]

To combat the negative effect of inflation, it’s a good idea to diversify your portfolio across different asset classes, such as stocks, bonds, and real estate, since this can help protect your portfolio against inflation. I’ve heard testimonies of people accruing over $550k during recessions

[@MiikeFaber]

Due to the ongoing war between Israel and Palestine, the stock market is a huge mess right now, I will suggest you get a Financial Advisor.

[@yfar567]

Yes true, I have been in touch with a financial advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

[@c.t.u.o]

Impressive can you share more info?

[@yfar567]

My consultant is Nicole Desiree Simon, She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision. I basically follow her trade pattern and haven’t regretted doing so

[@c.t.u.o]

Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.

[@BigJeezie]

I spend almost no money. Except for my sports car. However, I tint my windows dark and only want it for the drivers experience. I basically try and hide it.

[@rogue279]

What an awesome beginner guide on how to a responsible adult, thanks man 😂