Life-Changing Financial Advice People Need to Hear

[@jjbuckner]

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[@tosh-po3fh]

What is the name of the last guy that spoke in this video?

[@CSpottsGaming]

"Take a pay cut" is such underrated advice (for people that can). I was working as an investment banker in NYC and hated everything about my life while I was in that role. I decided to leave and was laid off before I could (a reality I'm very grateful for). Ended up back in engineering with a ~20% pay cut but my life is far better. I moved to a cheaper area so the cut didn't hit all that hard and I actually now make more (6 months later) than I did before the move. Valuing your life and not just your paycheck is wildly underrated for finding happiness in life. Money matters, but after a certain point it matters much less than people think.

[@ninjuhturdel]

I've set up our household budget so that my wife, kids, and myself each have our own "allowance" monthly. We don't stress about frivolous spending so long as we stay within our respective monthly allowance. I only spend mine on my morning coffee and occasionally dining out on a night we don't feel like making dinner. It's nice to have that freedom

[@jjbuckner]

Love that! This is the way to do it!

[@rebeltheharem7028]

Yup. There's really no point in getting into detailed budgets (unless you like doing that).

[@johndong7524]

Fascinating stuff. You can also make your own coffee at home or take a caffeine pill. Much cheaper than overpaying for Starbucks.

[@TRUTHbomb2.0]

@@johndong7524 I used to drink mountain dew for breakfast because I needed caffeine but hated coffee. I tried to quit so many times, one time I tried using caffeine pills. Instead of sipping on a caffeinated drink for several hours in the morning this pill hit me all at once with the caffeine, my heart started racing and I felt awful. Those pills are scary.

[@dianabehr3169]

This way your kids learn how to budget

[@jamesford8483]

Best advice is to live below your means. I worked in a small Midwestern town making $80K. My rent was $300 a month and included water and trash. I saved aggressively. I had a new car every three years and always paid cash. I retired at 48 from a government job. Nobody has any idea of my net worth. I still save 60 percent of my monthly income.

[@truthtelleranon]

This is the BEST advice. It literally does not matter what you make about 60-100k-ish. You can always grow your income but the compounding and financial peace you have from investing and keeping more than you give away is life changing

[@mrdrybonestv]

Best financial advice I ever got was from my father, “Don’t buy something just to get something.”

[@jjbuckner]

Your father is a smart man.

[@Crimson_Rain_Drop]

I’m confused can you please explain this

[@johndong7524]

​@@Crimson_Rain_DropHe's talking about returns on investments.

[@daviddominguez7545]

A wise man for sure.

[@johndong7524]

@@Crimson_Rain_Drop ROI

[@TRUTHbomb2.0]

My son has an engineering job. He works 4 days a week, so gets 3 day weekends each week! He's lucky his job is low stress, they are always ahead of schedule, he has an easy commute and great co workers. I'm very happy for him.

[@paulferrer4194]

I’m happy for him as well. Seriously

[@sophiasophia7790]

The best gift a mom can receive: A happy, successful, kind adult child.

[@kimicope_]

I actually rewound and then started over just to really hear it again. The "pick one thing" really helped

[@truthtelleranon]

and live below your means always!!! alwayssss spend less than you make. and f+ck anyone who teases you about it. trust me

[@BecauseImHere]

I graduated with chemical engineering degree and im not an engineer after 4 years. I worked as one for 2 years then i moved and couldnt find anything in my field, but i was ao grateful i went through the program because i learned a lot about myself and how i thought critically. Plus the skills i learned throigh the program helped me get a great job in a diff career field

[@truthtelleranon]

What skills specifically, out of curiosity?

[@SharleneIronside]

One of the financial videos ever! I respect that you worked hard to get where you are at. Nothing in my life was handed to me and I am slowly working my way to an early retirement!

[@jjbuckner]

You got this!!

[@Kin-28-8]

Investing in individual stocks can be a lucrative strategy, but it requires careful consideration and research. Different stocks offer various growth potentials and risks. Some may provide steady dividends, while others focus on capital appreciation. It's essential to diversify your stock portfolio to mitigate risk. Consulting a financial advisor can help tailor a strategy based on your risk tolerance, investment goals, and market conditions.

[@Thompson-e7h]

Absolutely, I've been exploring the world of stock investing recently. There's so much information out there, and it can be overwhelming. I'm thinking about tech stocks, given their historical performance, but I'm not sure where to start. Any advice?

[@Michaelparker12]

I've been investing in stocks for a while now, and it's been a significant part of my retirement portfolio. Diversification is key. I've had success with a mix of growth stocks and dividend-paying stocks. However, staying informed and regularly reviewing your portfolio is crucial. Have you considered consulting a financial advisor to help guide your stock investment strategy?

[@berniceburgos-]

That sounds like a solid approach. I'm looking to dip my toes into stock investing as well. Do you have any recommendations for a good financial advisor who specializes in stock market strategies?

[@Michaelparker12]

‘Stacy Lynn Staples’ 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.

[@Theodorebarba]

Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.

[@toddkindred5866]

He gives good advice. When I started as a civil engineer in design I had to learn a lot about design software. I spent a lot of my free time studying and learning the software after work and on weekends. For the last couple years I have been assigned many design projects that are specialized and have had other departments ask for me to design. Conseqently I get a lot of overtime, $20k to 30k annually in overtime, which just goes to savings. That extra cash really helps.

[@Sanchyfab]

Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.

[@Sanchyfab]

Especially with the ever-changing global economy, tax laws and regulations can also vary, impacting how investments are taxed. It's essential to stay informed and plan tax strategies accordingly.

[@V.stones]

Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.

[@V.stones]

Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.

[@camela8445Mar]

I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I'm getting worried about retirement, my intention is to retire at How best do l maximize my savings of over $220k

[@camela8445Mar]

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 skills and knowledge

[@rebeltheharem7028]

The coffee argument is my favorite argument because it never considers how much a person makes. If that coffee is 5% of your income every day, then its no longer just a $5 dollar decision. These considerations were never meant for people earning median income or more. They were meant for those part time works, or low income workers. Because to them, that $5 is no longer a "small decision".

[@rgrays2380]

I agree. I also think it's more about looking at your budget and be intentional. If you can afford and be comfortable financially to spend lots of money on coffee, fine. If your plan is to save on coffee, experiment with the types you like to make at home and save that amount- great. I think an issue is that many people want to spend on EVERYTHING at the same time. That doesn't work, that's entitlement, unless you have unlimited money. You have to make decisions that work for you and your budget. Then actually follow it and look to see if you're being successful

[@networth00]

Paying $6 for something that costs $0.25 is a bad decision no matter what your income level is. I had $200k in the bank and cut every corner you could cut. I also retired at 43yo. Yes, cut that dumb coffee purchase off, it will lead to you cutting off more bad purchases.

[@ptrtng6307]

No debt. You never know when banks or financial institutions will change the rules...

[@truthtelleranon]

100%

[@jamesni4498]

Or just get the big tub of Folgers and then life is easier because no more wasted time and hassle going to the coffee place and a little saved money. Everything adds up.

[@nicoleworkman3142]

My dad put himself through 4 years of engineering school while fully intending to never use that degree. Must've been nice to be the generation who got to afford a house, family of 4, and 2 cars on a high school diploma level of income. They will never allow themselves to see that they were simply the most blessed generation in all of human history.

[@sophiasophia7790]

And you're blessed for having them as parents.

[@dwaynecarroll7985]

get out of all debt if you can. As much as you can. Your life will change

[@Lattyj1]

Thank you for that word of encouragement toward the end of the video. ❤

[@thejamess2658]

I love learning about stocks speculative stocks.., yes u got any

[@Joce123]

I'm glad that you do not share your personal finances because it's not just you. It's also your wife's information

[@darknevangelist]

The opening statement of this video resounds alot with the opening of Musashi Miyamoto's The Book of Five Rings. Each path has a Way. Devote yourself to the Way and you will succeed.

[@JackF0372]

People have difficulty saving money because of their desire for instant gratification and keeping up with the Joneses.

[@dexterkan]

As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Seren Wintersun’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a nest egg of around 127k to a decent 732k. Kudos to the journey ahead!

[@dexterkan]

SHE IS ON TELE GRAM.

[@dexterkan]

@Serenwintersun

[@charadreemurr4221]

In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Seren’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.

[@georgigeorgiev6521]

Always backup your trading with a good strategy.

[@79AdventureBaby]

Nice, I was just hoding before I found Wintersun. In my opinion she is the very best out there.

[@deciduousdiscipline9592]

Great vid and great channel. Thanks man

[@Desire85102]

I’ve been trying to catch up on my small debt and even rent I’m having trouble with, the only reason I’m so behind is because my bank. However because of the bank, I learned to be more frugal with most things. I still get my wants just not as much. I try my best to work hard at my two jobs, and I will become my best version as a future nurse.

[@jjbuckner]

You got this!!

[@Desire85102]

@ thank you!

[@joec5544g]

It's the banks fault?

[@Desire85102]

@ they holding my funds and when it’s time to pay bills it’s late and funds are available to 7-10 days after I deposit. Really it’s my jobs fault for not setting up my direct deposit when I emailed them. So maybe both

[@joec5544g]

@@Desire85102 And now it's your jobs fault? Unbelievable... They're your bills, your responsibility... Stop the finger pointing.

[@tharpeaddy]

Bought my 4th pair of brand new hoka shoes. Ordered two pairs today. Spent about 342 bucks today on shoes. I work though I’m on my feet all day long I’m going to use them… I also bought some bitcoin and index funds… Bills are paid…all of them… I’m 28yrs old and this is what I do for a living is work save budget and invest

[@networth00]

Maybe Hokas are not good if you have to keep purchasing new shoes so often.

[@alldayfitness]

Can you go into more details/specifics on your rentals please?

[@Treytreybanzz15]

From $7k to $45k that's the minimum range of profit return every week I think it's not a bad one for me , now i have enough to pay bills and take care of my family.

[@JamesHarazes-d3m]

Could you please explain how beginners like me can start making this much.

[@JamesHarazes-d3m]

Last week I tried trading on my own and ended up losing $4k

[@Treytreybanzz15]

I have Evelyn Infurna to Thank

[@Treytreybanzz15]

she is a licensed broker here in the state.

[@Tonya704]

YES, That is exactly her name and also many people speaks highly about her . she is an expert and am just starting with her.

[@iamelizarosalind]

loved this!!!!!!

[@claytonfarris5802]

Coffee is worth it

[@Jamie789hi]

Love the shirt man that’s awesome

[@TRUTHbomb2.0]

I disagree with the coffee guy. It is the coffee and a lot of other things that can be eliminated from our lives that will save us lots of money or will be the things that allow us to live below our means. I make a grocery list on Walmart each week, I add things all week until right before I place my order for free pick up, they do the shopping saving me time and I am not charged any extra, and no tipping required. The last day go over the list of items and decide what is really necessary and what can I take off and I save so much money doing this. I used to spend so much more in store shopping buying impulse items. It really has helped us stay out of debt by cutting out many small things that we do not need to buy.

[@mandylee3862]

I agree. It’s not just about the coffee. It’s about the mindset of not wasting money on useless things. If I’m making the sacrifice of giving up that coffee, it’s likely to have a snowball effect on my behaviors.

[@AndreaRuralMN]

Agree. His videos are about and geared to people who make over 100k and in big cities. For someone (like me) with $100 in my account and a week and a half till payday it makes a big difference vs someone with 3k in their account.

[@truthtelleranon]

@@AndreaRuralMNTrust me. This applies to people making over 100k. I’m in that group. We waste so much money and end up broke when we aren’t mindful

[@OGConnors]

Love your videos man

[@jjbuckner]

Love to hear that! Thanks for watching brother!

[@joeriveracomedy]

My new jeep has a small tank and I am grippin' trying go a whole week on 1 fill up($45). A $35 a week savings.

[@tross549]

10/10 shirt!

[@Joce123]

You rent houses..banks rent money(you pay for the bank building..tellers..etc).. People who own parking garages rent a place for you to stay and you are paying for their livelihood

[@crimsonbandit3511]

JJ, what's a margin call?

[@ninerknight5351]

It’s very dangerous that “financial experts” try to dispel the $5 coffee problem. He says instead increase your retirement contributions by 1%. The average income of 57,000 means that you will increase it by $570 that year. If you bought a $5 coffee 300 days of that year you spent $1500 on that coffee. Not to mention that coffee is now more like $8. So if you made coffee at home and only spent $250 that year you could then invest $1250. More than double the other option. That’s my problem with the rich life guy. You can easily see the silver spoon in his mouth.

[@bananaramaman9031]

Exactly. It seems a lot of people can't comprehend the power of accumulation.

[@rebeltheharem7028]

Its all relative. That $5 dollar argument only works for low income earners, basically below the median US income of ~80K. For anyone above, it's essentially a negligible decisions. I also don't agree with him always making fun of that argument, but both sides of those who are for, and those who are against it, don't really frame it correctly.

[@tracyaf6084]

I really like Ramit Sethi but this is one area where I don’t agree with him. The small things add up. I agree you shouldn’t focus all your energy on small things and neglect the large ones, but you should pay attention to them and make a plan for them.

[@tharpeaddy]

It really is. Since I stopped eating out I have more money… I door dash…if I make 5 bucks a day that’s 150 bucks a month If I spend 5 bucks a day that’s 150 bucks spent on coffee a month. I would rather make that a month then give it away every single month

[@xaldath4265]

His point is to make as few decisions as possible to get to the goal. Instead of coffee every day, where you have to choose every day to do it differently, you set your 401k up to do 10%+1% annually and almost don't have to think about it again. Buy your coffees, then. If you make so little money that $5/day is meaningful, then he advises trying to earn more. Other big questions are to buy a modest house or rent where appropriate or to drive a gently used car instead of a brand new luxury car. Those are decisions made infrequently that are WAY more impactful than $1500/year.

[@l.mitchell3323]

hello, new to your content and I am finding it very helpful. if possible would you be able to speak on how to overcome fear when it comes to investing. i find it hard for me to invest not because i don't have the funds but because i am fearful of losing what I do have trying to invest it. thanks again for your content.

[@landonbrown9943]

Still driving my 08’ Saturn 🪐 Vue.

[@dwaynecarroll7985]

You can't win the landlord game now. And yes Ramsey went bust with good debt. You can setup a nice income stream right now with little effort and little money on risk. Foolproof no but the game changes that have been made for the little guy has changed the landscape forever. But on the flip side the more of us who find that path the easier it will be for the landlord path, law of supply and demand. If you can't deal with co-workers try renters

[@joec5544g]

With "safe" investments, of which there are many, when the market goes up, you make money. When the market goes down, opportunities open to make future money.. Time will take care of the rest.

[@jjbuckner]

This! 🙌

[@joliver79]

100% S and P 500 cant go wrong

[@langhamp8912]

The housing market is already highly distorted by owners weaponizing laws that prevent new housing from being built, because artificially constraining the supply of housing is a sure-fire way of increasing the demand. Now we have investors constraining the supply even more by buying up even more property; landlords increase the demand for housing then meet that demand. It's housing that's the big problem. My savings rate is between 50% to 80%, and that's because I got a house pre-covid, and by being particularly frugal. Otherwise I'd be living paycheck to paycheck. Housing isn't broken; it's working exactly as intended by investors.

[@EPPOTTER-k6i]

I am also so grateful for Dave Ramsey, thanks to him we are only 8K away to pay off our house at 35 and 36. The reason I found your channel too 😊

[@Maniseesbothsides]

Can you show us your hobby account and what you're doing over there in that account?

[@jjbuckner]

I used to make content on that but I decided to no longer share my personal investments with others.

[@takarakujis1042]

dont really agree with the tenants always paying the mortgage. every landord knows its not as simple as that. plus ramsey did say it best. the more debt you have the more risk you have

[@jjbuckner]

It’s literally as simple as that lol. They pay you a check, that check covers your mortgage, expenses, and plus you should have some left over after that. Yes, more debt you have the more risk you have.

[@takarakujis1042]

@ are you telling me your tenants have never missed a payment? Never gone through hardship? But then you still have to cover the mortgage?

[@crazyspartan2991]

I feel like you b3came an engineer and were able to build you're life up and increase your wealth faster with it. Im doing the same before I vecome a landlord but my job is where it starts.

[@fudogwhisperer3590]

get up 5 min early, make coffee at home for .25 or get starbucks for $3. In my opinion you're just being lazy not making it at home.

[@somethingaboutsamantha]

Amen 😂

[@Chester90909]

I make it at home drink it then buy another one on my commute 😂

[@CSpottsGaming]

I'm loving your videos but you're getting big enough now that the bots are out in full force. You gotta get the "I know a financial advisor" spammers and scammers under control.

[@lauriechan2966]

The S&P500 Index is the Crock-Pot of investing. You set it and forget it. It's incredibly easy, and anybody can do it. You dump everything in, ignore it, and have a decent meal 8 hours later.

[@AndreaRuralMN]

Sorry I have to disagree about focusing on your job and becoming the best and success will follow. If you have to work with other people this will not always work. They can use whatever power and influence they have to keep you in your place because your productive without paying you more, or they are jealous of your work and it makes their work look bad, or they think with emotions and you think logically and they are threatened by that. BTW I am a woman and I've experienced these things from mostly women. If it's from a man it's one with narcissistic traits. I just want a job I can log into from home and do the work with minimal coworkers! Also, document everything!

[@KennTollens]

Work my tail off getting out of debt and making money just so someone an get my money for nothing? Give it away? Why don't they get a job and eat beans and rice. Oh someone is charging a fortune and I'm suppose to cover their bill?

[@jamescares9003]

Didn't Dave Ramsey go broke from having so called "good debt"?

[@jjbuckner]

He went bankrupt bc he used highly leveraged commercial loans that got called. I have fixed rate 30 year mortgages. HUGE difference.

[@johndong7524]

Gary Vee is a charlatan. Live your dreams advice is easy to give when you inherited daddy's business. People who have to independently cover their basic needs must take that boring job to make ends meet in the meantime.

[@kinggeoffrey3801]

If you are spending $5 a day on coffee, you are wasting good money. That coffee guy is against mortgages as well. Not for me.

[@theparodychannel7842]

Ah maybe! In my budget I set aside 10% of my monthly for fun ..which is a 2-3 dollar coffee a 2-3 dollar snack everyday, ND a date w. My wife once a week! it's a set amount from each check, so if i don't use it all from last week I'll just throw the difference into the high yield! The point of budgeting is just knowing where ur money is going.

[@7SideWays]

The first guy nailed it. Focus and specialize in what you know and like. Win or learn. Gen X haven't punched in since 2002.

[@jamesvelez593]

You cannot all be millionaires, not even this fairy teller. Live humble, live free!

[@crimsonbandit3511]

I'm sorry I don't agree with Ramit about the coffee. I know I personally spent about $150 in one month. That's money that could be invested. Plus the coffee is overpriced.

[@claytonfarris5802]

Gary v is cringe XD

[@claytonfarris5802]

Dave Ramsey is such an weasel