The Plain Bagel: This Is How You Build Wealth

[@MakingMoneyPodcast]

Hello! We’ve put something together for you - a free guide for beginners that shows 80% of what you need to know about personal finance on 2 pages. You can get it here: makingmoney.email/80-guide-video

[@MrC0MPUT3R]

Anyone in the comments mentioning the name of a person who helped them with their finances is trying to scam you. Please report their comments since KZbin does nothing about it.

[@BoBandits]

Sometimes they've only had their account for a few days, and use a selfie from 2002 as their profile picture.

[@Wesley-rn7oc]

Nah dude, you're wrong! I started investing with Stephen and I've seen 20% monthly returns. I'm increasing my contributions 10x this week. I'll be back next month to let you know how much I'm up!!!

[@MrC0MPUT3R]

@@Wesley-rn7oc Stephen you say? Well now...

[@sdpryce]

​@@Wesley-rn7oconly 20%. I heard it's 200% per day 😂

[@davidk2158]

I currently inherited 200 Billion dollars and am looking to invest it in a scam. Any foreign bots have recommendations?

[@mkuc6951]

I am a Nigerian prince and I am in very much need of your help sir. This is not a scam.

[@davidk2158]

@@mkuc6951 What great a fortune to stumble upon such royalty. This man helped me turn a large fortune into a small fortune! All he needs is your money and identity.

[@davidk2158]

@@mkuc6951 is the real deal. I sent him all of my personal information and a truckload of pre-paid gift cards and he helped me turn a large fortune into a small one.

[@philcrowley007]

Watching in my 40s... And only just starting I feel so behind!

[@Otis-the-III]

Gotta start somewhere

[@barbborstein7640]

Keep going mate I started at 41... was in 7K debt and living in my overdraft. I'm now debt free have a 15K emergency fund. 20K saving pot and just surpassed ~£150K. Diversification and a clear understanding of your financial goals are key... I am almost 43 now!

[@mEAngurrrrl]

The only comparison that matters is the one to yesterday's self. Today you're starting which means you're already better than you were yesterday:)

[@henrymitchell9717]

I lost a lot chasing individual stocks and I feel pretty silly for not understanding how investing works. I have a double major in economics but I’ve been trying to make sense of the market. Well done on profits!

[@barbborstein7640]

Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I’m invested in ETFs, equity index funds, and individual stocks and use a CFA. On average, she takes 10% of earnings, but using *Lina Dineikiene's* system makes it much more hands-off. I conservatively follow her recommendations and market entry and exit points, and tbh this makes it fairly simple for me... I am convinced it's not just hard work but smart work :-)

[@Sabiqoon-w8y]

Richard is the ultimate “ triumph of the nerd “ superstar

[@saxassoon]

It really is. There's something so refreshing about having a guy that fits right in the middle of the finance spectrum of "im and expert, my word is LAW!" And "ZOMG guys! Top 10 INSANE stock picks that will 10000x your GAINS!" He presents his expertise fairly, but doesn't discount stuff that's new/risky. He calls out scams when he sees them, and generally is one of the most engaging creators in the space

[@MakingMoneyPodcast]

Sorry if I look a bit shiny in this episode! It's our first time filming from my studio and I haven't quite figured out the lighting and tech setup yet. We will get it looking better. - Damo

[@bernardo.daSilva]

Was just going to say, Damo's head is shinier than mine, and I'm bald 😅

[@bernardo.daSilva]

Amazing content though, as always ❤❤

[@callumtyler686]

Actually not shiny enough... Please be more shiny in future

[@MrDown2AT]

Shine bright like a diamond!

[@sheiscallednv]

These guys together in a Q&A situation is the one thing I unknowingly needed. Excellent viewing as per usual

[@Martin-kc1xj]

Educated "finfluencers" will naturally follow an essay structure: Introduction, opening of main topic often with the main question (So is X good or bad?), development and presenting arguments for both sides, and a conclusion. It is VERY clear. Patrick Boyle, Plain Bagel, Ben Felix, New Money (a bit more pop / trendy but still)... it is an academic / professional presentation structure, and it tells you this person spends a lot of time researching and drafting, then fact checking and formatting to present something well thought-out and not emotional or "just thinking out loud". Run away from anyone who talk like he's "teaching" you... e.i "Look, this is how you do things, do this and that, trust me, that's how to do it". Those people would get fired from any respectable organization. Also, ANYONE who says "follow this method and you'll have great success". Anyone who promises results is out to get your money or wanting to be seen as a "leader" to grow their "brand".

[@javim160]

Richard is a legend 👏👏👏 Well done guys , this podcast is gold PS: for the next one. You need to interview Ben Felix

[@Aenion11]

Richard and Ben saved me from the cesspool of junior mining investing towards index fund investing which eventually led me here. Great collaboration guys!

[@themusic6808]

The first stock I ever looked at was a junior gold mining stock 😂 Got it from an article on the Motley Fool saying a possible 1,000% return. Was trading for 0.25 cents a share 3 years ago down to 0.10 cents today. Glad I learned how to invest thereafter.

[@H2G24life]

I love the plain bagel cause he give great advice expecially for canadians. so much USA focused stuff when our tax/rules are different for some things you need the local rules

[@ManyMannyMan]

The collab I didnt realise I've been hoping for

[@tenorref]

I second the Ben Felix suggestion.

[@Jakeyosaurus]

HUGE COLAB

[@lawrencehooper4341]

Nice to see the three of you get together. Haven't watched it yet, but you've already earned a like.

[@timmygates8859]

Excellent episode. Shout out to the team for putting this together because the quality is really, really good, was very easy to listen to. Keep up the good work.

[@MakingMoneyPodcast]

Glad you enjoyed it!

[@quavor1]

Yes!!! The finance crossover I’ve been waiting for!!!

[@Opdeweegh73]

Great first virtual session. Looking forward to the next one!

[@MrDown2AT]

Thanks, apart from Damo's dodgy wifi giving us issues at one point, our first virtual episode went pretty smoothly!

[@stonboy]

@@MrDown2AT he chose the plain bagel when selecting his current broadband supplier😂

[@fplfred]

This is a more ambitious colab than the MCU! Well done guys

[@MrDown2AT]

🤣

[@NGC1433]

Collab? They sat there and talked.

[@RyanOrWelshy]

What a crossover - you simply love to see it!

[@annamariakaf]

Okay I had to comment this. I really enjoy your videos generally because of how diverse your guests are. I go into each video with an open mind. One thing that stood out to me in this video though is how much better Damien received Richards’s views, compared to Steve’s (previous video). I’ve never heard of Richard or Steve before but their message seemed to me to be quite similar (don’t rely on ETF’s, stock pick if you can do the research). I think it’s important to note that as your channel grows and you get more diverse guests, with views that don’t necessarily align with your own, there should be consistency in how the individuals are treated and received.

[@MakingMoneyPodcast]

HI Anna, honestly thank you so much for this, I think that is really fair feedback Your comment aside I have asked myself questions since the Steve interview as to why I reacted the way i did. I feel like I came across a bit prickly and I think maybe for some reason i was in a bad mood. We film 4 episodes in a day some times and it can be quite a draining process, this is no excuse but i feel it is important context. I also am new to interviewing people and it is definitely a skill I need to develop. Next time I sit down with someone I don't agree with I will think of your feedback Thank you again Damo

[@snaggiz]

A Collab between two of the best voices in finance YT. We’re eating good today!

[@KeyYUV]

In Canada, an investigation by CBC marketplace found most recommendations by the big 5 bank's advisors are bad. I was duped by those advisors to invest in high fee mutual funds and GIC (Canadian version of CD) for my retirement fund as a 22 yo. Thanks to the meme stonks and WSB horror stories getting me interested in investing, I got educated in good practices and now hold majority index ETF. It's great that channels like Plain Bagel has so much high quality educational content.

[@petez4608]

Great show. Many definitions for the word “success”. Financial success is one aspect.

[@Lenny-nr4yv]

Smashed it guys 👊👍

[@LoJo]

Back when the world was new, I read Financial Planning for Dummies, which gave me enough information to make an informed decisions about investing (for me, the simpler, the better)!

[@Abdul_Rahman86]

What a great podcast and amazing guest!!!! Great questions and you all had great conversations!!!

[@christines5430]

Excellent podcast. Missed it while on holiday!

[@batemanlife]

Great choice of guess, he is knowledgeable and speaks sense 🎉

[@samuelloification2749]

No way! Big colab 💪

[@alehunter15]

Amazing interview!

[@millenniumstreamer]

No way I love this guy

[@Marenqo]

Finally 😃 been waiting for this one

[@donpeters9534]

How do you look at Foreign Exchange Risk when investing in the US (Strong Dollar) from outside the US (your Weak Currency)?

[@economicon9257]

Richard is the 🐐

[@tjwheal]

I met Damian today in Tesco in Stockport, nice friendly chap.

[@MakingMoneyPodcast]

Hello mate! Lovely meeting you. Damo

[@produktas]

omg amazing guest!

[@chriswood6333]

Better in person interviews, love the content

[@lordabhikingfisher8087]

only one way to build wealth. spend less than you earn. more to save and longer you save, richer you can get. Invest in S&P 500 ETF through out your life. you will be ahead of 99%

[@Madridstrat]

I am 32 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in business school and then invest in rental properties afterwards, or should I go for real estate investing first?

[@TheDayTheDay312]

i would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes - "you get what you pay for"

[@JesseMayhill]

Very sorry for your loss. As she had just said, consult a financial expert (and in the case of rentals would be worth contacting some landlords to get an idea what's involved in running rentals. Many people think of rentals as "passive I come" and underestimate the work involved (even with a management agency), not to mention if a tenant stops paying or major repairs occur. A lot to think about!)

[@Frankweily]

I agree, investing with the help of an advisor set me up for life. Retired with about $1.6m in stock portfolio only. I max out my 401k and have few properties. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. Supplementing my income with stocks and alternative investments helped me achieve early retirement.

[@Bunnydrille]

I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. mind if I look up the professional guiding you please?

[@Frankweily]

Sure you can! Melissa Elise Robinson is the advisor I work with. Just search the name. You’d find necessary details to work with to set up an appointment.

[@vipertoasties8017]

Great job guys 👌

[@MrDown2AT]

muchas gracias😃

[@wendynoble6545]

Loving it! ❤❤❤

[@MrDown2AT]

😃

[@palmtree-e2l]

Great podcast. Please consider interviewing Andrew Craig about the reason why the UK is so poor.

[@whiteandbrown3090]

What a collab! Absolutely love it!

[@donpeters9534]

Always look at the P/E Ratios that AI or other Fashionable Stocks are trading at. If you pay too much of a P/E ratio multiplier, the company may out-perform hugely, and the stock may under-perform hugely if the P/E Ratio deflates... You may not care if you pay a 15 or 25 Multiple. You might mind if you pay a 60 or 100 multiple...

[@Abdul_Rahman86]

I would say in regard to individual stocks vs index funds is definitely money and how much. I invest £500 per month, that is no way enough to be putting it into individual stocks.

[@coderider3022]

I like his channel, been a follower for a while. Only criticism is that he is too pro US, big regional bias. Like most Canadians and US, “world” is US and stock picking.

[@tenorref]

Not this Canadian. 😀 Only 30% each Can and US, rest is spread out over international, bonds, other… Cheers

[@Juryoku_]

Reality has a USA bias

[@MrRaitzi]

As minimum you should link the channel of the person you have as guest to descption of the episode.

[@jimbojimbo6873]

Damien’s gonna need to drop his skin care routine after this one

[@DamienTalksMoney]

😂

[@abreugonc]

Three great dudes

[@YukalayleeGames]

Mega guest

[@MrDown2AT]

💯

[@ONeill01]

Please get Andrew Murray on!

[@beanbaka]

2 of my favourite channels 😅

[@doug2731]

Lol today i learned Plain Bagel has the hubris to pick individual stocks. Kid thinks he's the next Warren Buffet

[@utubeaddict29]

Aight, get that dividends don't matter guy on here... But for real Ben Felix when.

[@kesstonugbodu1211]

Impressive

[@GarryMurray-i1y]

Please please don’t down play bank investing in mutual funds and GICs. My bank stocks need to keep making money and raising their dividends 😊

[@Ethxnb44]

One airpod each? How low has the budget got?

[@isiah675]

☠️☠️☠️☠️

[@MakingMoneyPodcast]

They are fake AirPods as well

[@jamietaylor1664]

@@MakingMoneyPodcastthis is a true example of frugality. Practicing what you preach and leading by example. Well done gentleman

[@dafruk1]

I seem to be the odd one out here. Ive never heard of this guest before!

[@Capture262]

Me neither

[@sheiscallednv]

This guy is also a KZbinr. Search 'the Plain Bagel'. He's a legend

[@xaldath4265]

Welcome to the Bagel Club!

[@jasonf90]

What a cross over! Surely Everything Money is on the cards?

[@thabangmakawu7543]

Where are the wealth building tips? Or am I just slow 😭?

[@PunkRockGardener]

He clearly didn’t teach Trudeau a damn thing.😒😊

[@RonaldSimonKahn]

Did you know if you invest $100 daily over 60 years consistently in the stock market achieving a 15% CAGR you’d be worth over a billion dollars?

[@musheopeaus4125]

Mates. Doctors are extremely well paid they average 2 days Nhs and 3 days private and prioritise private work over Nhs work .

[@RobinHood-us7sg]

Consultants you mean!?

[@musheopeaus4125]

@@RobinHood-us7sg no GP’s as well just look at any duty roster in a surgery on their website

[@__Rum-Ham__]

This is absolute nonsense. Has someone been reading too much daily mail?

[@musheopeaus4125]

@@__Rum-Ham__ try working at a hospital or surgery and you will see. Why the queues and waits are long .

[@__Rum-Ham__]

@@musheopeaus4125 you have no idea what you’re talking about

[@scobeyrowley5115]

Why would i take financial advice from someone who rarely leaves their own house?

[@Ethxnb44]

Most unexpected crossover

[@-Plot-]

TLDR: bet it all on dogecoin

[@Driving4bangers]

Richard dated my sister

[@rzslo9084]

It is sexy, i get turned on knowing more than 50% of my paycheck goes towards freedom down the line.

[@tienhuynh1814]

Everyone loves AI? broad stroke you painting there

[@zeroogwomenbluechip9783]

Passive income have 100k in sp500 then that will give you 10k a year to then put that to invest in low and high risk investments win win ? Not hard to understand this concept . Buy tech stocks low risk and still benefit with wherever AI goes as these big companies like Microsoft will be ones in the know and will do well with AI .

[@ET76001]

Contrary to many comments i dont think this was one of the better ones. The guy maybe big and relevant in Canada or US but his points were not significant for UK and certainly not more relevant to your own points in many of your great contents.

[@Bobventk]

Listening to him cluelessly endorsing stock picking was cringe

[@MFK1967]

Soooo boring

[@marcus.H]

Just for the record - The guest today has been saying for years that people shouldn't buy bitcoin. Talk about missing the boat 🚢⛵

[@dafruk1]

Seems completely aligned with the investment principles he is discussing on the show. Reviewing and analyzing the underlying company value to make decisions.

[@marcus.H]

@@dafruk1 yep. It's been very bad advice

[@camzy01]

@@marcus.H Clumsy rhetoric, and I'm not even anti-crypto. Him steering individuals away from a highly speculative investment whose true value and use case can't even be accurately gauged is precisely what someone as financially versed as himself should do. Wealth attainment (and most importantly, preservation) comes from taking logical and calculated approaches to risk and 'missing the boat' on a few unpredictable outliers doesn't make your advice bad

[@marcus.H]

@@camzy01 yeah. Ya see, the charts would suggest otherwise Is 3% a lot? Would you lose sleep over 3%? Most people can handle a 3% allocation. How many percent did he suggest allocating? 0 When it tenexed, that 3 became 30%. to have no high return allocation is only fine if you plan on being well off when you're 80

[@camzy01]

@@marcus.H The charts also show a very volatile journey upwards, one in which there have been numerous substantial (50%+) dips in value, and depending on which point in history somebody would've invested in and their level of exposure, could result in considerable amounts of money lost. Lets not pretend like most people would be able to sit tight through such rough market conditions. This is without considering the literal 'wild west' crypto has been for much of its history, ranging from exchange hacks/collapses, government restrictions/threats of 'banning' (arguably 'ineffective', until somebody wishes to realise their gains in fiat currency that's actually utilisable), and the general nature of self-responsibility for ensuring your crypto is stored safely given the lack of regulation/protection. It's common sense as to why someone like Richard would advise to exercise extreme caution, in the same way how the average person shouldn't be advised to trade options/CFDs. Regulated stocks, commodities etc. whose intrinisic values can actually be assessed still present plenty opportunity to become wealthy well before retirement. Again, advising people against getting caught up into bitcoin's mania is not bad advice

[@BagelKing212]

Well what do we have here? 🥯👑