Stop Listening to TRASH Money Advice! Codie Sanchez & Tom Bilyeu Put Classic Wealth Tips to the Test

[@ElGallo978]

The single largest financial risk a man can take is marriage.

[@Nolan.Gurule]

Truest words

[@crouchingtiger2870]

Prenuptial prenuptial prenuptial

[@howtoactuallyinvest]

Love is free. Stop buying into this scam. Many couples lose love when they sign that bogus financial contract too so it's actually the opposite of what you should do if what you want from marriage is love

[@guinto7609]

@@crouchingtiger2870 that doesnt work either.

[@crouchingtiger2870]

@@guinto7609 unless you're in commie-fornia, yes, it does.

[@armandoweckmann5699]

I financed my house when I was 28 and paid off my mortgage when i turned 39. Now, in my 40s, 80% of my income is getting invested. By the way, my income is the highest it's ever been. I want to learn how to leverage my money now that i have access to more capital.

[@danafox2843]

I sold my home every seven years, doubled investment three times. Main benefits - place to hunt, grow food, store bulk purchases, host, and home office. Best monies spent for country folk!

[@subzerosurvival]

Owning a home you can afford and paying it off is the best hedge against inflation. Trust me, when you're 60 you'll thank me.

[@howtoactuallyinvest]

I've made 50x on the money that would have went towards a down payment investing it in companies instead. A house would maybe double in value in that same 8 year timeframe if I'm lucky. I understand I'm in the like .01% of the population who will ever make returns like that though

[@tigerrx7]

And then came a fire and insurance stopped your insurance because it’s no longer profitable for them in your state. You have a better chance at inflation hedge in the stock market

[@gareth3206]

Said the boomer! We are in a different time Gramps!

[@subzerosurvival]

@@gareth3206 Nope. My kids are millennials and they've already figured it out. Yup. Their 'rents' will never go up. Not owning a home is just an excuse for laziness.

[@sams6591]

True also it’s mentally satisfying ❤

[@Thomas46457]

I'm an old man and I really like Codie and Tom. Young people are lost today when it comes to money. I tell them to watch Impact Theory and Codie Sanchez. You're great!

[@gregrothfuss]

Buying a house that’s $350k that only rents for $1800 is absolutely terrible… that’s not investing in real estate-that’s just making a terrible decision.

[@Samsonight33]

1940??? The federal reserve was created in 1913 under Woodrow Wilson. These “professionals” on these podcasts and social channels that actually don’t know much is mind blowing.

[@Justsay-in]

Tom, your shows and advice are getting more out of whack with the people who actually watch your show... Ask yourself this question, how many millionaires watch your show! I would say none... People who watch your show are those who are not financially independent. Why? Because they have jobs, and families, so they haven't the time to dedicate to learning finance to the level you're presenting it. Why do people take mortgages? Because they can't pay in cash. Simple. They don't want rent. Why? Because they want security. The advice on this show is just for people who have made their wealth, yet, most people who watch it are not financially independent. Why don't you get an average individual on!

[@shartmann2008]

Best thing I've watched in a while. Oh my...

[@jameswest7945]

Fed was 1913

[@Ducotevision]

She looked unsure when she said it too.. lol

[@the_wandering_brute]

I came looking for this & now I’m going to stop watching.

[@rickymartinez4951]

This was such a great segment. You should do more like this in general (financial education games), and specifically just like this segment but you can do it with other topics.

[@perafamily5836]

buy what you can pay off quickly - no debt - all dollars are green- work a lot on your own company

[@obijuan3004]

You should own a house. I was a landlord for 20 years, I made a profit off of renters. Every home repair, water heater replacement, flooring replacement, tax deduction, my mortgage, my taxes, my home insurance were ALL PAID BY THE TENANT RENTING MY HOUSE. Then I sold the house for thousands of dollars profit. Not owning property is foolish; all you are doing by renting is making landlords rich. I sent my kids to college with money from rental property, how could renting be a better plan, if landlord’s make a profit? BTW, never pay your house off early, use that money to buy index funds.

[@GD-sm5nz]

No I don’t want a mortgage to add up pressure to my life. It means that I will have to work and reimburse my loan. No freedom. I don’t want that.

[@IakonaWayne]

Owning one rental property is fine, something I plan to do, but I never want a house to be 50% or even 20% of my networth so I haven’t done so as I would be over leveraged. I prefer stocks.

[@GD-sm5nz]

@@IakonaWaynesame here, liquid assets only

[@obijuan3004]

@@GD-sm5nz How is a mortgage more pressure than paying the rent, are you living with your parents? Plus with a lease you’re usually trapped in that lease until the lease is over or you lose your deposit and possibly other money. With a house you sell it when you’re ready to sell. There’s more freedom when you own a home in my opinion. I have had 7 homes and if I decide to sell, I get paid to move.

[@obijuan3004]

@ You can’t be over leveraged and have a home be 50% of your net worth as any money you owe is subtracted from your assets (your net worth). Also any increase in your home’s value, that is tax free money.

[@WealthyChronicle]

Is it just me or does Codie’s 'grit and skill stack' concept hit differently? 🔥 Can we all agree that hard work + building skills are non-negotiable for long-term success? 💪

[@ronmclaughlin2515]

They are both forgetting the leverage you get with RE. The average Joe can put 10% down and mortgage the rest. Even modest gains are magnified.

[@epizan]

Expenses are also magnified.

[@gareth3206]

10% and still pay mortgage insurance?

[@KishTalksCredit]

Great Video😊

[@wpelfeta]

I respect the people who are willing to give financial advice that does not assume you are a toddler.

[@sanjayaiyar4351]

Except most people behave like toddlers when it comes to money.

[@NEWGREATNESS]

Lol. The best trainwreck I've ever seen!

[@thetabithabenway]

Is there an asset that someone else will pay off for you other than real estate? I don't understand when people say $50 income per month is not worth it, because it's not the part of the equation that creates the value.

[@StevenGatleySr]

Great video!! I can recall when I was homeless and faced many things in life until $70,000 biweekly began rolling in and my life went from a homeless nobody to a different person with good things to offer!!!!

[@Rodriguez-c6h]

Congrats 🎉🎉... How can I make good profits as a beginner starting with $10,000? I'm open for ideas_i just started and have no clue on how to profit, my money just sitting there.

[@StevenGatleySr]

I discovered Ms Elizabeth Regina Nelson through a recommendation on ABC News, and I've been following his lead ever since. Honestly, I was skeptical about entrusting someone with my financial growth, but I'm thrilled that I took the leap.

[@DrMike-vy7oc]

have heard a lot of wonderful things about mrs Elizabeth Regina nelsen on the news but didn't believe it until now. l'm definitely trying her out

[@AngelLee-w5k]

Waking up every 14th of each month to 210,000 dollars it's a blessing to I and my family... Big gratitude to Elizabeth Regina Nelson

[@barryoconnell-j8t]

You are really doing great for yourself. As of last weekend I counted on €17k from Ms Elizabeth Regina Nelson but don't just know what to put it into.

[@Guanyinhennasea]

Cody is more correct in the house ownership vs rent. It’s not just because people don’t invest wisely, it’s because mortage payments force you into the habit of building wealth through an asset. Unless you earn tons of extra cash per paycheck, people wont allocate as much money into the market as they would pay into a mortgage. Also, once people are paying a mortgage and earn more, the my will allocate money into the market IN ADDITION and also there money has one extra diversification ( house + investments) vs rental kid with investments only. ALSO. people keep saying that owning a house is sooo damn expensive. Guess what, if you’re renting from someone, you are paying for the upkeep indirectly with ur rent it’s not as if the owner just eats all the maintenance cost and u breeze by as a rented with low rent. The cost is passed onto you!

[@jeremyplante6698]

Investing is not gambling. Both are "Betting" on returns, but investing = ownership, gambling does not = ownership, you cannot correlate the two.

[@Nolan.Gurule]

Well the reason why a man would throw away everything for a pretty woman is bc everything a man does to be successful is to have women. If they were out of the picture men wouldn’t give a shiii

[@brett4932]

Buying a house with a 5% down conventional loan and live-in-flipping it was the best financial decision my wife and I ever made. It allowed us to pay off all our consumer debt and student loans while putting a lot down on a larger house to start a family. It's not for everyone and it can go sideways in a lot of ways, but if you do it right it can literally change your life. Also, in a fiat currency system where there are really only two primary asset classes that the majority of people have access to equities and real estate, investing in both is not gambling in the slightest bit. Especially the stock market. You investment in stocks is an investment in the united states and its ability to continue growing and attracting companies to do business here and with us. And you will always have the constant inflationary pressures of the fiat currency buoying asset prices to some degree over time. So to say any investment in the stock market is at its core a gamble is....a very dumb statement. Like, exceedingly unqualified bad advice by this dude.

[@JenniferMeyerconsiderjennifer]

God so good Codie....people can learn. We need to be taught. Thank you for teaching

[@Gid-J]

Why would you make them "USE rankings. That is so stupid. Let them fall where they should fall

[@kusali11]

Codie has a great niche, if you want to start a small business but aren’t sure, she’s highly convincing.

[@dansbuilds]

Can tell Tom soaked up a lot of Michael Saylor's perspective in their recent interview.

[@stillhopeful7048]

😂😂😂 love this! Great advice. Plus the humor! The part about some men losing their sh** over a woman, like Bezos! 😂😂😂😂 a man sends the gift pic, he WANTs to receive! Hilarious! Hahahaaa....truth all truth 😂

[@j.p.2393]

The bigger pockets huskers are fuming right now. Those guys are leading people to doom in this market. Good honest podcast..

[@CG-uk1vz]

Their take on real estate is ignorant. Real estate gives you leverage. If your 400k house goes up 5% a year, that's 20k a year your money made ($1666 a month)

[@epizan]

Have owned multiple houses over the last 15 years… repairs, taxes, insurance and maintenance have averaged me 10% of my purchase price PER YEAR. That does not include the mortgage payment. Personal Real estate is not an investment. When it is paid off it is a place that gives you shelter and gives you a space to think.

[@DivineGame7]

And you think they’d don’t understand your level of math when it comes to homes? Keep learning and you’ll understand. They both own millions in real estate.

[@CG-uk1vz]

@DivineGame7 You look at things surface level. Of course she understands it, but she NEVER mentioned leverage with real estate because she makes money from educating people on buying businesses. It's not about what she knows. It's about the listener who doesn't know

[@garnold-l5p]

As an investment enthusiast, I often wonder how top-level investors are able to become millionaires through investing. I have a significant amount of capital to start with, but I'm unsure about the strategies and direction I should take to help me generate substantial profits like some people are this season.

[@Currentlyundiscovered1000]

One thing they don’t talk about is rent go up. Morgage’s don’t. My buddy spends as much money on his apartment as I spend on my entire duplex that I own.

[@Mav0585]

I think buying a home can be great in some circumstances, especially if you want to be on a particular block/street and school district. And just because you rent doesn’t mean you are guaranteed you can continue to stay there either.

[@CyberTechBits]

Best clip I've watched in years! Advice + Fuckery = Awesome! 😎

[@howtoactuallyinvest]

This was solid

[@Majsayy]

I liked this ranking thing yall did but you should be able to give the same score multiple times

[@joshbraaksma7455]

I have planted 20 fruit trees and open a private well. Eventually, I'll be covering my food expenses.

[@rickymartinez4951]

I also want to say again that you should have Robert Keyosaki on. I believe he invented financial education games.

[@christophermilUler]

Nice video. Not a criticism, I enjoy your insights. I tend to think prices could go higher if XAI508P rockets. But understand the logic for sandbagging estimates. My opinion is XAI508P breaks 1, perhaps reaches 10 ATH, if conditions are right. But broader forces are at play now. We’re moving into really unknown territory. And these entities are shrewd. I think there’s massive manipulation ahead. If XAI508P survives that, well, we’re likely in for a good pump.

[@jasoJnlong]

80% TURBO 14% XAI508P 2% FLOKI 2%BONK 2%PEPE 🎉

[@vicwiseman6038]

I think a whole lot of people are about to be VERY shocked when SAVERS turn into winners and “investors” turn into losers. No one really invests into gold, BUT I think that those that do are savers. Historically, gold has outperformed everything single asset class. It was valuable 1k years ago and it’s still valuable today. Everything else has come and gone.

[@seanfraser8456]

@vicwiseman6038 you left out the time period. Gold has outperformed what assets over what time period?

[@patrickpellegrino]

Cody is meh, she feels superior to others through the way she talks

[@BlunderCity]

Is that all you need to make determinations about things? Feelings?

[@stillhopeful7048]

She knows her sh**. So perhaps, it's just her communication style. It's not offensive. She's a straight shooter. Started listening to her maybe 6 months ago. Like her views and experiences. Very inspiring lady.

[@tatiarts6423]

Are you saying that cause you FEEL she is more intelligent than you?

[@clayc123]

She grew up wealthy and privileged so it makes sense to have a condescending nature

[@johnnycash8567]

You’re probably poor as well

[@ryanharris687]

So if I rent a house for 20 years. When I move out, I get nothing.. but if I bought that house and owned it for 20 years, I would get something. So what am I missing?

[@strych9-oj9uz]

How the super blackpilled think. That's what you're missing.

[@wesleymierzwik8404]

If rent is cheaper than mortgage then your supposed to invest the difference in the S&P 500 but rent will always go up in 20 years and your mortgage will stay the same. So just buy a home 😂😂

[@johnyang1420]

Take extra money and put into S and P index. Index funds average 10% and real estate returns 0.6%. Its night and day.

[@hilbertp]

First ever video of Tom i didn't like... but that's okay, 99 % is a fantastic rate! Thanks, Tom, keep it up!

[@troyotapreuis6020]

Why dat?

[@Area559Duh]

Why not ?

[@beatrizhermosillo7511]

Yeah, I also left this episode disappointed. Codie has so much insights and fresh market information, and Tom is so smart, amazing interviewing and has a lot of knowledge (theory and experience) in the world of finances by now, so I though this was going to be 🔥 Instead it was a little bit boring. Thanks anyway for your continuous amazing work! 🙏

[@MarkStewart_783]

Bought 50k XAI508P COIN..from 4 cents to $1 soon..30 x.. Binance just bought 10 Billion XAI508P coin..🚀🚀🚀🚀

[@seanmclaughlin7415]

The owning of a business part of this video, depends on the type of business and where the business is located. This is very subjective.

[@Blockchain_Basics]

“When the fed was created in the 40s” uhhh no

[@monicamattson2388]

If you are a reasonably intelligent investor….have metals, stocks, businesses, real estate, farm, “preps…do intelligent wealthy people pay off their core home (house), or do they leverage everything (OPM)?

[@hclark6053]

Saving is not a hard F.

[@wenvu577]

I'm sorry man, I feel for you.

[@gabrieliacoboni6951]

Meh. Maybe C tier.

[@djamal9047]

The whole narrative on owning a house changes when you can buy it for cash!!

[@Fairy71128]

Tom speaks about dropping money on gorgeous women out of personal experience 😊

[@ChristopherChavez_562]

Where do you buy XAI508P?

[@imdoc7872]

Just follow Dave Ramsey’s advice. I would invest in broad market index funds or ETFs instead of the mutual funds.

[@o.s.s.fitnessandgrappling1052]

I’d prefer doing what Dave does vs what he s says, they are completely different

[@debbic2055]

Have you looked in Scriptco pharmacy’s model. From a consumer’s point of view, I’ve saved quite a bit.

[@claudiakienzle9468]

I agree with many of the comments here that Thom you need to think about the fact that most of your viewers are not millionaires and billionaires were average people. Try to bring us information that will improve our lives and our financial well-being.

[@1985Jesg]

I have 2 homes at the age of 39. If I hadn’t bought, I’d be renting a house for double my mortgage payment Is right now. Don’t be stupid! Buy when you can afford it and don’t try to time the market. Know it’s a long term play.

[@johnyang1420]

Its dumb to buy a house because putting money will give you much more money!

[@hameedsadr7123]

Don’t cough in your hand :) Health is wealth.

[@kevinhale628]

Pharma doesnt exactly feel like its part of a free market

[@pawkot49]

This Cody girl .. she knows anything 😂😂😂😂

[@mchammer1836]

Doesn't she 😂😂😂

[@Guitar4life99]

By definition investing is not gambling, not true. There IS risk, however you still own an underlying asset. Stop pushing this false belief., this is the very reason why I never invested - I believed my family who hammered that into me. That is very dangerous, teach risk management with investing, not gambling. I know the both of you know better, but there are millions who don't understand the difference.

[@stevemcewin8852]

The stock market is gambling but crypto isn't, humm

[@alottaforchina6457]

‘MY INBOX IS OPEN CODY SANCHEZ… (my wife can send them etc etc’ Hidden message, not hidden from me tom

[@gamelover2222]

Morning Tom. Hope you are well!

[@hughjanis6439]

Federal Reserve was founded in 1913, not the 40's

[@exabier3854]

You used a tier list but didn't allow more than one per tier, which defeats the purpose. This should have just been a ranked list instead. Otherwise, great info here!

[@adamlhalter]

I get what they are saying about saving every penny you make. for someone starting out I think this is bad advice. Call me Dave Ramsey but payed off anything makes more money and can grow anything a 1000x better. Way less stressful! I feel like Tom has a better grasp on reality and maybe Cody is still just riding the highs of luck

[@fishlover]

Who is the guy talking in the back?

[@chatanpatel5853]

Have 0 percent debt with and home that has small, but want to work investment I have an enjoy but a learning curve every year as people are using quick and fast approach. 401k advice I want to move before the government takes the little amount saved, and to avoid taxable cost as I just want to put away in BTC.

[@plantpoweredguru]

Funny she admits 60% of people have less than $1k saved- mentioned as negative but she thinks saving is a waist of time. Just ramblings here

[@Radykall1]

The point was thay you can't save to get rich, not that saving is a waste of time.

[@MarcasAndrews]

This is why most people don't have any money... They don't listen and they misunderstand what is being taught 🤦 She didn't say 'don't save money', she simply disagreed with the myth that you can 'save your way to being rich'.

[@plantpoweredguru]

@@MarcasAndrews A saving mindset is your first step to wealth creation.

[@natefreeman1466]

Then you missed her point entirely.

[@plantpoweredguru]

@@natefreeman1466 u do u - i dont need any financial advice - it seems more than 60% of americans do

[@williamelizabethtorres2258]

I got some XAI508P right now… in ma skivvies bruh😂

[@ConnorLucas-v3o]

No context on anything they said ..

[@ZacharyAdams_805]

I think I need more XAI508P, before Blackrock buys them up. 😂

[@denniscollins47]

It looks XAI508P is in right position.

[@jessicajoyhardee6668]

Wow! This is when an intelligent woman has to suffer a childish boy! God! Cody I follow you and you have literally changed my life! We are leveraged but we are working hard - living on one side of a duplex and below our income. Looking to start a business and stealth wealth all the way! I wish that the woman leader I love so much had a more mature hubby shout-out to my bestie Lisa!

[@ASquires-wc8ii]

VOO and done. Don’t need much else.

[@darlingtonjonesimagery9247]

Lolololololol this was great and funny

[@tmax259]

Sorry but they are talking crap about investing in property!! It will out performs inflation almost every time and that's not even taking into account the rental income. And if you are only making £40 or $40 pm on your rent, then you don't know what you are doing and should not be investing in property!!! Like anything in this word, if you don't know anything about it then you shouldn't be investing in it. Educate yourself first.

[@pawkot49]

😂😂😂 she is talking so around

[@Man-u-flex]

Who died and left her in money advice

[@claudiakienzle9468]

You shouldn’t downplay the importance of saving when most Americans don’t have an emergency fund, and therefore they’re at the mercy of banks and credit cards and also you can’t dismiss whole categories of investment because some things will work better for some than others and everyone has to figure out what their risk tolerance is and to find the right investment that fits their profile otherwise I feel like what’s being said here is a little crazy and frankly not helpful to people who do not have high financial literacy.

[@kusali11]

The key to that point is getting rich saving. No one gets rich, but you’ll definitely have an emergency fund. You’re right in that they should have defined it better.

[@the.firefighter.realtor]

Where did this conversation turn to lol

[@supraxlr808]

I’ll buy real estate over stupidly gambling on crypto any day…and such an investment can also be highly leveraged given that you can put as little as 0% - 5% down. And then even get roommates (or tenants) to pay it all off for you. Doesn’t get any safer or better than that for the average income person compared to most investments. Crypto 🙄 please…

[@Richard-Matthew-Hall]

SUI and XAI508P is going to explode

[@TheHealthLife]

sorry, but you cannot live in a share or stock when you are 70. Do you really want to move, pack up all your things because the landlord kicks you out or sells? Not everything is about money.

[@JacobJoeCox]

Good morning XAI508P Community!! Let’s get ready for a December to remember! AEOD all eyes on XAI508P

[@Dru-v9u]

Did he have a big one though ??

[@livefree3864]

The fed was created in 1913

[@TruthfulAbyss]

People are obsessed with property... Buy Bitcoin. It far outperformed my investment property, which lost me money.

[@kennethhenryrodriguez9931]

You estimate is to low. XAI508P will hit $1000000000000000000000000000000000000000000000000000000000000000000000.00

[@clashaholics4571]

FED wasn’t created in the 40s…..

[@NeilRamroop33]

My god.. i usually love Tom's channel, but.. only on minute 3 and they're recommending bitcoin and gold. Love your other work, but this one ain't it :/

[@brucehumphries6889]

Naked Mole Rat is all I remember now from this video 😂

[@HickorySticksWoodworksNW]

They should teach real finance and how to start a business in high school. Unfortunately they teach go to college get a degree and then a job and work for the man the rest of your life.

[@Kangasound]

Terrible advice. So you’re telling me throwing away money in rent which goes up every year is better than owning a home because the water heater might need to be replaced? People never factor in $$ lost due to rent. Their equation only makes sense if you live in your mom’s basement rent free.

[@d454b]

stopped listening after they talked about not saving.

[@LightsOut999]

You have to save money for future investments, that’s straight BS!

[@megarxidas17]

The Fed was created in 1913

[@herbythechef7624]

You shouldnt have just put 1 piece of advice per tier.

[@RogerHughes_657]

Sold all my xrp yesterday and bought XAI508P