The Best Ways to Invest in Your 30s | Phil Town

[@PhilTownRule1Investing]

Investing or spending, what are you currently doing? Maybe a little bit of both? Get ahead by downloading my Rule of 72 cheatsheet and get going, folks! bit.ly/2APKGBJ

[@jackpons3187]

Phil Town's Rule #1 Investing Hi Phil, How do you get an interest return on investing? I was under the impression that you make money on the share price. Love the content thanks

[@sebastiancushing]

Hi Phil, Big fan of your channel. I'm up in Canada where marijuana is about to be legalised federally in October. I invested in some of the big players in the space (Canopy Growth, Aurora Cannabis, Cronos Group) a few years ago. They've all done very well for me. I was wondering if you could do a video on marijuana stocks. The market cap of some of the big Canadian players is now in the billions and companies like Canopy growth are listed on major exchanges like the NYSE. It seems inevitable that more states will be legalising recreational pot. The cover of the recent special issue of Time magazine is entirely devoted to the growing embrace of marijuana by Americans. I'm curious what your thoughts are.

[@AnthonyVasquezEndZz]

Do you recommend consolidation for the credit card trap?

[@whiteisright4142]

15% anually? Proove it

[@aelphacom]

There are hundreds or maybe thousends of books and videos like this and they tell you same thing, general common sense stuff. Can one be specific just once: where should I go and what to do, to lets say, get $2000 from my $1000 investment. Where should I invest $10,000 to get $20,000 in a year. No one ever tells that! Everyone tells dogmas like stick to your goals, make short term and long term planning, make promises to yourself, work hard, never give up - those are just cheap material from trainings to make you feel positive and happy at the moment when someone tells yuo about all this doubling and trippeling your income. No specifics... And don't try to refute my point by saying somthing like: oh, this is just an example of sceptic. I'm open to see real examples and advices, but specific step by step, very detailed. That would be a unic channel, other than that is only morivational material.

[@swathi5773]

1. Raises as savings 2. Rollover investment on Retirement plan 3. Maintain credit score 4. Set short and long term goals/promises 5. Rethink your budget. Cut the fluff

[@Jbm510]

We've been cutting costs. Just the last quarter alone we were able to consistently eliminate $300 per month on expenses. As well as increase 401k contributions by 5% to 13% and throw an additional 3% into a private dividend growth portfolio. I'm so excited. Thank you!

[@reptilesgamers00]

Make sure you have a Roth. Stop funding the 401k at the employers max match. Any extra dollar cost average into a roth. Unless collectively you make over 100,000 a year. Than the 401k might have an advantage.

[@TheSwedishInvestor]

6:20 This part about goals is very interesting. Do not reveal your goals to other people! By doing this, you'll fool your brain into believing that you've already accomplished something. This, in turn, will make you feel better and actually lower the chances that you'll achieve the goal you just stated.

[@Re3iRtH]

Christianity Boxing Mafia Yes, but you say those things to yourself (affirmations), not others.

[@TheSwedishInvestor]

Thank you Re3iRtH, that's the point exactly. To write down your goals to yourself and keep repeating them is key. Revealing them to others is not.

[@jamie49868]

What's wrong with sharing goals and ideas with like minded people? I say my goal is to amass $10,000,000, and no matter what I say, I either have it or I don't. How do you trick yourself into thinking you reached your goal when you clearly know you haven't?

[@A_Box]

@@jamie49868 Simple, complacency and the illusion of achieving something without actually getting there or putting effort into getting it.

[@ryannguyen916]

that makes me wonder so hard right now....

[@kevinbrown1073]

I'm in my thirties and started to invest a few years ago without the knowledge of rule 1 investing and am just starting to scrape the surface of what that entails. I'm really excited to learn more about it and to take charge of my future!

[@therealpeopleadvisor]

Best of luck to you! It is never too late to start investing...

[@zekevfab]

I am in my 30s. Starting with analyzing my spendings was very educational, the amount of crap we spent out money on... With some help from spreadsheets and YNAB I got it sorted out and cut my expenses and now save reliably. After that, I started to learn how to invest with indexes / Boggle style. But then discovered Phil and his books / podcast and understand businesses better now. I now started my personal investing practices and enjoy it! Thanks Phil.

[@dougnorton5204]

Before I discovered Phil Town I was utterly lost but now I'm learning so much I actually feel confident not just about my future but more importantly the control I actually have over it. Cheers Phil!

[@whiteisright4142]

You must be a complete dumbass if you need tbis guy to fix your life.

[@whiteisright4142]

@@jamey6236 do/ did you have 2 great houses by 33? I have. All paid for. Debt free. 2 cars, one is a hilux... Paid cash. No debt. Just under a million usd in savings. Enjoy your life dipshit (whatever that is) Enjoy your life

[@davidpo5517]

The hardest part to me as a 26yo is patience. Thinking to yourself, don’t worry, you’ll have a million dollars when you’re 55, isn’t that strong of a motivator to keep me giving up things in the now. Who wants to wait that long to do what they’ve always wanted? Adulthood kinda sucks.

[@TheValiantLion]

Adulthood is about disciplining the “kid” in you. No one is going to force you to make good decisions, but it will be worth it.

[@chasegoldLDN]

I fully get your point, you want to enjoy it while you are young. Maybe consider investing in cash flowing assets as well (like property) - that way you won’t have to wait as long for freedom, but consider the trade offs

[@thecurrentmoment]

Maybe try taking your spare income (non-essentials) and splitting it in half, one half to invest and one half to enjoy. Then as you see your investments grow you know you have also been enjoying your life and as you enjoy your lifestyle you know you are also investing just as much into your future

[@devenmurray3580]

@@TheValiantLion honestly it’s not about the kid in me. It’s spending money trying to find a wife. Roll up in a beater and have boring dates to fatten my 401k sucks

[@TheValiantLion]

@@devenmurray3580 Dating world ain’t easy, but in all honesty, money isn’t what finds a wife. Maybe for the first 2-3 dates, but Genuine, honest, friendship and commitment makes a relationship last. And if it’s your money (or lack thereof) that is keeping it going, then its built on the wrong thing.

[@xixia7866]

And don’t forget the most important “your health is your wealth “,health is a long term investment too,I have been seen so many people worked and saved the whole life,after they retired they spent most of their time and most of their money to the hospital and medical bills ,they are living but not enjoying,so guys please take care of yourself,eat well,drink well,sleep well,exercise well,enjoy the life with the money you saved!

[@juanroberto8686]

Cryptocurrency especially bitcoin which is a secure global and digital currency has claimed the interest of investors around the world and this is so because it is open to everyone and provides an exciting oppurtunity to delve into an entirely new asset class. Although to some investing in forex or bitcoin trading may seem scary but what they dont know is that it takes time and effort to understand how the forex and bitcoin thing works. If you understand the potential impact of these things it won't be hard to understand why investing in it may be a good idea

[@conandoyle9166]

I agree with you because a career or an investment in bitcoin offers you the oppurtunity to earn a lot of money, if you have the patience to learn the processes and strategies involved or better still get yourself a professional trader

[@conandoyle9166]

However it is worthy to note that the bitcoin market is highly volatile and the underlying investment should be considered a high risk investment and this is so because along the run you will make some losses, even experts make losses on daily basis but it doesn't change the fact that consistent profits are being made also

[@arthurrichard807]

Nice words I must say, I know for sure that investing in bitcoin is very profitable. I have made good profits in the past few months and I'm gradually looking forward to making 60btc before the year runs out

[@evelynharper9407]

I thought about investing in bitcoin around 2018 but I was discouraged with the rise and fall of the bitcoin. I dont know if it's still ideal to invest in it? Are there any platforms available and most importantly how much is needed to start investing?

[@taralorraine9814]

I'm an Australian. It's law here that employers must contribute minimum 9% of your income to your "superannuation" (which is similar to a 401K but you can't touch it until you're retired except in emergencies). The government also contributes a little each year. So I have been investing since I was 15. I have never worked full time in my like but I currently have almost 40k in my retirement fund. It's a great system.

[@robify4]

Sir. When I say GOD BLESS YOU I mean it with a sincere heart. May the lord keep you healthy and wealthy.

[@justinsims1006]

I am 35 years old and recently married. I was always reckless in the financial area. I just read my first financial/investing book. I'm embarrassed it took me 35 years to appreciate money. I got my wife into investing as well. We just bought "Invested" and can absolutely relate to Danielle. Now we are addicted to your pod-casts and videos. We are still poorly educated when it comes to financing and investing, but hopefully this is a start to a successful life style and retirement. Thank you for sharing your knowledge.

[@justinjacobson1495]

Makes sense,I am 10 yrs. older and lived the plastic life a few times,Just created more stress and more debt at the end.Now if I don't have money to buy then it isn't sold.Lifes great.

[@dsamurai3585]

You must be doing great right now! 😀

[@SchoolofPersonalFinance]

I decided to start buying rental properties in my 30's to enjoy the passive income in my 40's and beyond instead of waiting until in 65 for the income. A combination of both retirement accounts and real estate has been my path.

[@jolietia]

How did u get into buying real estate?

[@attorneyinvestor3941]

@@jolietia Simple just buy a land and make an apartment. Then find someone who will rent it. I am earning a total of $120 per month for my rentals alone. That is enough for me to eat for 1 month.

[@reptilesgamers00]

@@attorneyinvestor3941 That's ... that's nothing. You for real? $120/m for multiply rentals? Should be way more cash flow. Especially if you're building an apartment complex. Like damn how much money do you have tied up?

[@afr0flava]

Yup, this is exactly my goal. I turn 30 next month.

[@dw4525]

attorney investor 1) that’s not simple. 2) that’s a tiny amount of money for the effort involved and sounds like it could easily go negative.

[@ResourceTalks]

Personally not in my 30's yet, but we do have a lot of clients that are indeed in their 30's, coming to the office and asking us for that kind of advice and a big, actually THE best piece of advice that we like to give then is, stay humble, but don't be afraid to take on opportunities. A lot of people are afraid of taking risks in their 30's or later because they feel like they are "old" ... c'mon!

[@marcofragomeni9914]

a person in his 30s with a small capital built over years of sacrifices is not eager to "take risks" easily. I'm 34 and i consider myself halfway my "active" life; evaluating if going for a weekend out or save for a dentist visit is a thing already. For each youtube financial guru successful stories of "start your businness/reinvent yourself/" there are tons of failures of unfortunate investments which put people sleeping in a car. Real money is not Monopoly money

[@og_killerlee9833]

This video spoke directly to me. It was kind of eerie. I am in my 30's, looking to buy a home, deciding on whether to put my son in private school, just got promoted, and I finally got 1500 into investments. Thank you for the sound advice. I just love your words 😀👍

[@rochx7881]

Lifestyle creep has been a big fight for me Phil. I’ve already spent my total annual income (from 3 years ago) in 6 months. But I don’t regret it. I got it out my system (did a shitload of traveling). Now it’s back to the grind!

[@immortally87]

I'm 31 but I've only been working a "real" job for 2 years. I was a grad student getting my PhD during most of my 20's. During the those two years, I've paid off all my debt (~50k) . So now I'm finally getting thinking about getting into investing. I have a Roth IRA, my job doesn't offer a 401K (dat startup life). Looking for a new job though. Trying to teach myself about the stock market and investing, so daunting.

[@LOVELY-131]

Almost Paradise

[@therealcoolc]

Don't forget to backstop all of your investments with REAL money.

[@catotheelder9524]

I highly recommend the stock series by JL Collins. kzbin.info/www/bejne/imiUmpWZj6aLaas

[@c0t556]

Do you regret doing phd?

[@madant22]

i wanna do the same thing myself

[@laurelharper123]

Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol

[@maggysterling33254]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?

[@maryHenokNft]

Not at all, having monitored edge my portfolio performance which has made a jaw dropping $473k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.

[@BiancaSherly-qt6sb]

@@maryHenokNft I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@maryHenokNft]

Investing indeed requires a good understanding. It's important to have a reliable support system, like a financial consultant, to guide you, especially in asset selection. I work with *Mary Onita Wier* an investment advisor who partners with a licensed wealth management firm. It has been an excellent experience for my finances. She is quite well-known for her services, so you might have heard of her.

[@VictorNichols]

Good advice would be to tell others that they can also repair their credit score. If you have bad credit, you can always start repairing it to help improve your credit score.

[@walter.dlawson2580]

I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-k.Cashed out 270k from the S&P and invested with a Full service broker . Until around 4 years ago we were 100% in the s&p after over 10 years. I'm retiring at the end of this month at 42, while my wife will retire next year at 56. We currently have 1.7 million in out tax deferred savings..so I don't actually agree with this

[@laurenkaran9140]

Wow this is really impressive, congrats on your success

[@jerryscotfield6913]

you made that much from s&p500!! do you by any chance do referrals on your broker?

[@ineffablele9744]

If you don’t mind me asking how much did you invest and how often did you do it ?

[@glimppe7772]

I started at 25 and am 26 now. I put 2000 eur a month which is 80% of my earnings after taxes into stocks. Rest into necessities and living expenses. I need to do this for the next 10 years if I am an average investor. At that point, 10% compound earnings will substantially outweigh the amount I can save from my wage annually and can loosen up. A decade now is worth a century tomorrow.

[@Munyabrwn]

Which stocks are the best to invest in?

[@brickitect420]

I am 23, HS diploma, no debt, didn't go to any colleges, never had a credit card, never had any of that, wanting to live cheaply and build the best future for myself regardless of the economy since it's not looking too great. My biggest bill is rent *ugh* I'm also avoiding debt like a plague. Any advice welcome Ig.

[@Phlegethon]

10:00 what are you investing in that doubles your hypothetical money ever 3 years I perpetuity? Is it the investment called a fantasy?

[@andriyshapovalov8886]

His agent is Jack Daniels. He knows how to 'double' ;)

[@jessem4849]

Impossible

[@jhall19k45]

Just started investing 34 and am going to through every extra penny I have into stocks, ETFs, and Roth IRA. I also have a state retirement and a deferred compensation plan that I am going to begin to invest more into now that the only debt that I owe on is my house.

[@ketogenicknowledge245]

31 yo male. I have been committed to heavy dividend growth investing and compounding via a DRIP. Maxed out my Roth then stuffed over $8000 in the Individual account, for year 1. I'm living well within my means and putting over 75% of each paycheck into DGI.

[@foursquarehomerepair]

It would take 8.2% annually to hit that if you started at 30 and ended at 65. And congrats! Inflation has chewed up so much of it that your $1-million has the same value as about 350k-400k today.

[@paulclark2410]

Hi Phil, I am enjoying your book, haven't finished it just yet. I have started investing in ETF's and have begun to practice finding the big five numbers of companies I like. I also like this channel, just discovered today, thank you!

[@elimarseli]

This is my first time here. I really enjoy your channel and the quality of information that you are sharing with all of us! Thank you so much.

[@InspireMedia73]

Elizabeth Orozco Money traps are sporadic and tempting. It’s still up to the person way to handle. Determination and patience are key to successful career business and firm focus is the way to eradicate such traps. Subscribe to my channel to gain more tips to earn and strategies strategies.

[@di9it4l]

I'm lucky in that I have had a stock portfolio since I was very young, no credit card debt, have a 401k investment (need to roll my old one in to the new) and Roth IRA. Just got in to ESPP and use performance bonus stocks to invest in a company I think will do well in 10-15 years time. I do need to get better about my budget and the best way in which to invest it. Being on a diet really helps with cutting food costs and keeping myself in good health. I turn 33 this year

[@VenusVanessa06]

Eric Arnerich YOU GO BRAH ! 🔥🔥 GO GET EM’ !! 🔥🔥

[@mikeskinner9697]

Thanks Phil! As a millennial I’m just now starting to think about my retirement. I wish I would have had more guidance at a younger age. I’m just grateful people like you and Ramsey are out there to guide young people! Keep up the good work! I’ve subscribed and turned on notifications!

[@PhilTownRule1Investing]

Hey Michael! So great that you're beginning to think about your retirement, you've got some time to make some big moves. Thanks for the sub, stay tuned!

[@TheGuitarShawn]

The concept of "lifestyle creep" you mention is spot on. This is the first time I've heard it, but exactly what happens whenever that raise goes straight to your bank account (and wallet). Cool videos!

[@JanetBristerJsue]

Using a zero-based budget. If you don't have a budget telling your money its job then you are going to watch it disappear and wonder "what just happened?" You touched on that a tad, Phil, but if we ignore our money and don't pay attention. It tends to wander off. There are some dangerous apps out there that support a "set it and forget it" practice that, frankly, could lead to disappointment over time. We really must be deliberate about our money and how we allocate it.

[@cecilygf]

Love watching this guy. I'm in my thirties and just starting to invest. It's only 20 a month, but it's something!! Rest of the money going to debt and 4 kids lol hopefully will up the amount soon :)

[@gadget00]

nice plan; where are you investing those $20??

[@marcellacamille-cep3475]

Make promises instead of goals! Thank you for this Phil!

[@cstewart7056]

My wife and I have managed to remain at a Lieutenant income level even at senior Captain pay. It makes a massive difference in savings ability.

[@OnlineStoreMentor]

My neighbor is 38 years old, a Captain and can retire in 5 years. They counted her years as a Cadet.

[@thecooperacademy]

15% is a pretty lofty goal to aim for in this current market. Especially with most investors who don't have the time to put in to achieve those higher rates.

[@robbydobbyz]

15 % year over year??!!?! Wow! Why not like 9% 1 year, %6 percent another, -3% another, 10% the next, etc etc... 15 % a year continuously is madness!

[@AGL23]

Robert Bradley I think the point of the 15% is that when you’re in the 30’s, there’s less time to get to a million dollars. So....something’s gotta give. High savings rate and/or high returns.

[@valueinvestor668]

15% is XIRR

[@reubenmorris487]

More likely scenario.

[@wh7824]

It's not Impossible, with an extensive knowledge of compounding and choosing the right Fundamental in stock value investing, 15% growth a year is very much doable.

[@bradbarber799]

So many of these financial people give very unrealistic expectations for investing, I know saying you can get 15% sound better and will encourage more people to save than saying you will realistically only get like 7% but it seems shady.

[@diego-lima]

Great video, Phil! I believe who hasn't started inventing in his/her 20's (like me), kicking off in the early 30's is a MUST! One needs time to see the power of compounding make its magic. If one hasn't started in his/her 20's, unfortunately that ship has sailed, but waste no more time and start investing right the hell NOW! It doesn't matter how small one starts investing, but start.

[@InspireMedia73]

D Lima Money traps are sporadic and tempting. It’s still up to the person way to handle. Determination and patience are key to successful career business and firm focus is the way to eradicate such traps. Subscribe to my channel to gain more tips to earn and strategies strategies.

[@davegustavo4726]

Investing in your 30’s is late and a long time to wait. Starting out at your 20’s creates better financial advances.

[@jadecarson5081]

I should be having a great time living in my 30’s. I’m already engage with a vast investment plan at 26.

[@mikenorman5172]

Yeah Dave. That’s the best plan

[@andyosman8375]

I hope I get the same opportunity jade Thanks for sharing here.

[@rajashetti206]

Facts.. People are getting smarter now and Nobody is waiting to get rich at their 30’s.

[@panedole]

Kudos for the Video clip! Forgive me for chiming in, I would appreciate your thoughts. Have you considered - Seyichael Underlying Superiority (erm, check it on google should be there)? It is a good one off product for force the universe to give you money without the normal expense. Ive heard some extraordinary things about it and my cousin got astronomical results with it.

[@LeedsSTL]

I'm 33. $50k saved in 401k. I put in 12% a paycheck, employer adds another 6%. Simples. I just hope a big crash comes so I can average down and buy up cheap as I missed the 08 crash. No car debt and no CC debt is the biggie. Then just put 401k on autopilot to autorebalance and raises go into savings. I make less than $50k a year and plan to retire at 52. Choosing a partner who also didn't want kids and agrees with me on religion (or lack of it in our case) was most important. We make decent money, pay a lot in rent because we like to be transient, but save save save!

[@MoseSifunaClassics]

This is my first channel to subscribe to!! It got all I need. Kenyan

[@styl3zkp]

good video in theory.. how do you make 15% consistently for 35 years though

[@humilulo]

doubling one's $ every 3 years is about 26% increase per year. calculate it yourself. his 15% is a vast under-exageration to double one's $ every 3 years.

[@ahmaddwikipradany2843]

That's the magic of value investing. Buy a great company at the discounted price.

[@melissadeguzman5439]

Ahmad Dwiki-Pradany how do you know which company is good to invest?

[@devin19222]

Leverage your capital. realestate is a good example a property that will make a 4% return, which is common, only requires 20% down to get that property. But you still make 100% of the profit as if you owned the property so your 4% return is now 20%, after the cost of the mortgage 4% interest you'll still make 16% a year, without taking appreciation into account. Higher returns ate possible they just take more effort and or risk.

[@mikerobideau6712]

Leverage can be extremely risky in all of its forms (loans for real estate, trading on margin). Anyone getting into this game needs to be aware that it will magnify both your wins and losses and introduce bankruptcy as a much more realistic possibility.

[@matieosantiego7438]

do you mind sharing some tips...

[@phillyboy8435]

Good stuff Phil I'm just starting to learn about compound interest and I'm 33 but better late than never. Look forward to some more of your videos keep up the good work!

[@Charlie.Lockwood]

Just turned 31, setup an automatic drip system with Vanguard. Refi'd from a 30yr to 15yr last summer. Trying to live below my means and sock away what I can now, so that I don't have to be part of the Rat Race forever.

[@timcoady7095]

A really good video Phil, in my case I made an early investment plans in real estate which has been doing great over time and this has allowed me to even engage in some online trading mostly stock and forex. Having multiple streams of income is the best solution to financial freedom but it's important you have a good investment plan beforehand.

[@keatonmorgan295]

You have certainly done well for yourself.

[@annabelwillemse6997]

Nice comment

[@youngwolf2526]

Seeing these video really makes me feel ashamed am 28 with no Investments yet all I do is spend as I earn.

[@rachealjones6039]

It's not late to start one for yourself.

[@rachealjones6039]

I have been looking for other means of income Tim, you mentioned online trading how much of a good investment is that can you share.

[@JordanReynoldsjoshealthylife]

I’m so happy I found your channel. Thank you for all your knowledge! I’m learning so much.

[@lurabunny]

I let lifestyle creep happened over the last two years but most notably this past year. I’m set for a raise in Jan so I plan on saving all that instead of increasing my way of life. Such an easy way to save

[@Farisnb]

I don't know how I ended up watching this video. but damn this is Gold. Thank you Phil.

[@dynamics9000]

"Would you like me to give you a formula for success? It's quite simple, really: Double your rate of failure. You are thinking of failure as the enemy of success. But it isn't at all. You can be discouraged by failure or you can learn from it, so go ahead and make mistakes. Make all you can. Because remember that's where you will find success." -- Thomas J. Watson.

[@seandunavant]

I feel like you're the dad I never had. Thanks for teaching me how to manage my money. :D

[@PhilTownRule1Investing]

Thanks for watching, Sean!

[@jarred333Boss]

yee tanks daddy

[@valueking2283]

So true Time⏳⏰ is a big factor in this, thats why the earlier you start the better. If you're 30 start now you still have many more years to live don't be discouraged💪.

[@SriHarsha2100]

I'm earning good and I'm clearing my dad's debts which are of higher interest rates, my vison is to clear off those asap and start investing until then putting every penny into clearing debts

[@gp6723]

Thanks for this video, is very motivating, right now I'm reading your book and I promise this year I will invest my first 1000€

[@hsk8787]

Great advice phil thank you. But being old with a nice car isnt appreciated by anyone. Im a b Strong believe i need to enjoy right in balance with saving for the future. No point living tight and dying tomorrow without being able to enjoy your money.

[@AdamHindley]

I’m not 30 yet! I’m 26 but I want to keep an opening mind on things to be aware of. I’m just getting to the end of invested (which I’m loving) and rule 1 on next on my list to start. I’m new to investing and haven’t started yet. being from the UK I dunno if much is different? I’m trying to sort all my current finances, while paying myself that 10% to build up a pot for when I’m ready! To spend some time learning the correct way before jumping in.

[@JohnMichaelHaas]

Super blessed to have a family that helped me pay for college and a grandfather who left me some money to invest which my father never told me about till 25 years old. I have been trying to save minimum of 5500-6500 a year 5500(roth) 1200 in my wealthfront account. Doing mostly dividend growth investing in my ROTH and indexing with wealthfront with my taxable account. Now to get my fiancee on the same boat of Roth investing :)

[@davidthecardcollector]

Baseball cards in your 20s, basketball cards in your 30s, a mix of foot ball cards and American silver eagles in your 40s and cashing in on all your great investments in your 50s.

[@Thegravyipass]

😂😂😂😂

[@JLW667]

Thank You Phill 👏🏿

[@jjbuckner]

Almost to the big 30 😳

[@abishekmathpal9202]

U look 40....

[@sawhtetshein]

Hey Phil, Thanks for guiding me.

[@bkilpatr100]

I am 38. I just started investing this year. I will likely retire between 68 and 70. I plan to max my IRA each year until then. I keep feeling like I have started too late. I feel like I'll be ok, but I don't think that just maxing out my IRA contribution is going to get me to where I want to be. I need to find ways to generate more income...

[@journeyofthearyals528]

bkilpatr100 its never too late, atleast u r getting started.. if u have money also think of buying properties, u can save alot on capital gains

[@publicenemyno1316]

Whew, great video. Military investor here, over 30, but these are things that I'm trying to teach my guys. Thanks for the content!

[@FrancisMacomber1936]

CAn anyone tell me the ticker symbol for funds which return 15% per year? I want in. I hear guys like phil and Dave Ramsey talk about returns like this, but I have not seen them.

[@mohitsinghpuri5356]

I am 20 right now and i kind of understand what you say. Thank you for your advice sir.Cheers.

[@BluesyBor]

I thought it was about investing, like multiplying your capital. The video is great, but it should be named more along the lines of "saving money" or simply - how to manage your money responsibly.

[@Zar4thustr4]

I am a Drilling Engineer and always found it easy to live frugally and put aside money ... at the beginning, I thought it would take forever to build some wealth - now that it has sped up and I have a considerable amount I am really nervous about it. : / ... when it was less than a years' income I did not waste a thought on it ... now a possible market crash haunts me, and I actually feel anxious about just continue investing - even though I earn more money than I need.

[@joshuawilliams6153]

I think you should invest in your 401k at last to get the full company match, if not you are passing up your own compensation. Companies usually only match about 3-4% it's not much of your check and you still would have plenty left over to invest in other places depending on your situation

[@ericcorder9083]

Should we pay for a company to manage our investments or should we choose what to invest in?

[@nextleveltribe]

Eric Corder choose what to invest in yourself! You can look at the company that you want to invest in by looking at the financial numbers to decide whether it’s worth investing

[@martinmartin6300]

I like your video. However, I am very tired of KZbinrs who say thinks like "the federal government just..." because you are assuming that everybody is living in the USA who watches this video. Somehow americans often think that the USA is the only country that matters but you are here on KZbin where actually the whole world is watching you. So for me it basically doesn't matter in any way what the US government does and how it affects the people in the USA financially since I am not living there. One example is the thing with the student fees. Here where I live there are no student fees so the people here do not need to pay back anything regarding the studies. Thus, it might be a better idea to leave those country specific details out and to do a general video on the topic which can mean that the video is a bit more abstract but that's totally fine. Cheers

[@nicolecouture654]

What country is that no students fee if I'm not mistaken are you Swedish

[@Daniel-tv9tb]

This is focused for the US market ... Go make a video for your own country.

[@Alessandro1983]

I am blessed to have mentros like you. Im 38. Just now starting to invest.

[@Historyteacheraz]

Thank you Phil for sharing your knowledge! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good resource for new investors.

[@Tunawesmake]

Wow. Phil you are very wise and simple at the same time. Invaluable advice and practical insights. You describe me 100% in this one. Good I'm seeing this at exactly 30 years!

[@contactarshad]

How 15% consistent return will be possible for next 30 year

[@Tunawesmake]

@@contactarshad maybe not consistent, can be more or less. Think of stocks and businesses. You can lose or gain profit. If you get profit in a business and reinvest it it can give more than 15% or you could lose more too. Think of ANY business. Careful not too lose your life savings though.

[@marcusarelius]

What!?!?!? I had to stop the video at 10:50 after I heard the $1,000 dollar example he gave. Invest $1,000 in your 30's and it becomes $1,000,000 30 years later. LOL...what? EDIT: I meant 9:50......I watched the portion of the video I have issue with. And to clarify, he's giving an absurd hypothetical where the money is invested in a "high rate of return" where its almost doubling over every 3 years. Just not possible as he says but apparently it is as a "Rule 1 Investor". I've never read the book but my mom has always said if it sounds too good to be true, it probably is.

[@kyleb2044]

It's invest $1000 per year, will become oops, it's $100k in 30. Guess he was a zero off. I looked back, he's not doing roi, he's talking some weird doubles, you'd have to actively do something consistently to double every 2 years something, then it's probably not investing.

[@marcusarelius]

It's laughably wrong. Like I said, I had to stop the video when I heard that.

[@jamie49868]

$1000 a year at 8% will give you $212,000 in 35 years. At 6% it's $128,000. That is $85 a month. Not bad, and certainly better than nothing. You want a million...then that's $100 per week. His figures may be off, but the concept is right on. Or you can blow it off, do nothing, and hope you win the lottery. Your choice.

[@marcusarelius]

I agree, the concept is right. But the concept kinda goes out the window when the math is wrong. $85 a month 30 years from now might pay for your water bill, that's it. Surprised the video was edited and uploaded to KZbin with this wacky math included.

[@jamie49868]

No that is funny Mark. So what do you suggest? Saving and investing is no guarantee of success, but not doing so, how ever, is a guarantee of financial failure. Do your thing, I hope it works...the weird thing is that people 30 years ago said "sure, but that money wont be worth what it is today", they were correct, but I sure hope they have some of that money today, and I'm sure they would hope do too. Will you have money 30 years from now?

[@brandonor]

how is phil doubling his investment every three years? that seems like unrealistic gains.

[@ozkanb]

That's called DCA, after some time growth is exponential.

[@IndyAaron89]

Ozkan B Nope

[@ozkanb]

@@IndyAaron89 yeep

[@MushroomKingdoom]

Yes, you can. You just need to see your enviroment what do you see more often in your day to day? where is all the money invested?

[@electronicproducer4603]

In December 2016, I put $2k into some tech stocks. Halfway thru this year (so in 1.5 years), it doubled. This was me not having much exposure to investing at all, so I can see how it's possible.

[@silverbags1208]

Investing for the first time in my 32 years!

[@anandjoshi7049]

I am from India, but the rules that you provided are applicable here too 👍 keep guiding

[@hazambingcola9414]

Im still on the process of learning things about investments sir. Sooner i'll start investing. I hope i'd learned these things during my 20's.

[@HamsterHearthstone]

3:26 How do you pay rent and live a whole year for just $4000 as you claim? oO

[@sharinglungs3226]

Didn’t he say living on a boat? Most likely just paying whatever taxes to dock a boat. Off grid so no energy or sewage charges. Probably use solar to recharge batteries for electricity and at night usage. I guess cell phone and groceries is what makes up the $4,000k. Doesn’t really sound doable if you want to live a normal life. I guess it depends if you want to sacrifice a lot early for more financial security later. I’m of the mind of balance as a late death is not guaranteed. Who knows how your health will change over time. Don’t want to spend my best years living off of $4,000 per year.

[@attorneyinvestor3941]

@@sharinglungs3226 it is doable. I live on $4000 a year too. But I live in a third world country. Here $4000 is a lot of money. Btw I save and invest $6000 a year.

[@MohammedMuhiUddin]

Is it worth it? Am I going to be even healthy and fit when or if I get to age 60? What if I get sick then all that money doesn't help me at all then what do I do with it. Better to save up a little. Don't worry about tomorrow. Focus on today. Buy what you need. Treat yourself. Treat others.

[@fireeye33]

I have no student loan (got a full scholarship). What I do to reach the 401k annual limit is when my employer gave me annual cash bonus, I put 60% of it into my 401k account. The government is taxing 40% on cash bonus so why let them take it all? They can tax some of it but not all of it. Then comes the tax return time I will get plenty of tax return bc of the amount i put in my 401k.

[@VenusVanessa06]

Yes I’ve started investing and It feels GREAT ! 👍🏾 Thanks for the amazing advice. Could you possibly do a video on achieving Financial Independence (Without the prospect of having kids). I would love to hear your tips and tricks on that.

[@AmyB369]

Do you have any videos on investing for self employed people?

[@Skyshr]

What is the annual rate of return that you used, and how can I invest to get this rate of return?

[@justme-nt5vf]

Stocks

[@Angelus1205]

Hey Bill, hoy mentioned something about not using a high deductible health insurance and instead, use a PPO plan. But isn't it better to have a High Deductible insurance to be eligible for an HSA and also get sued money from my employer every year? Please advise. Thanks.

[@JustJoel101]

Intersting ideas.. Watched a lot of these videos and sometimes I feel like the advice is save, invest and generate capital all for retirement. I want to go do the fun things while I'm young, not just wait until I'm older.. Sat in my fancy house with lots of cash, and a body that can't make good use of it!

[@jitsudasitthi-amorn1615]

At 30, you have 35 years left to earn enough money to support yourself for the rest of your life (say another 30 years). Have some fun now but make sure you have enough for retirement. You don't want to work until you are 80!

[@JustJoel101]

@@jitsudasitthi-amorn1615 of course, and I am don't panic! I just mean, I don't want to be a millionaire at 70 if it means at 30 I don't do anything but work and save cash

[@ALPHADOG1900]

Honestly credit score is the least understand by profesionals. In reality, Credit score is the least important thing. You can be $100M deep in debt and still be highly credit worthy.

[@antonioarancivia1857]

alpha sow- But it helps out if your trying to invest your money in real estate though ( BIG ticket items). It’ll be like a cycle...money going in your bank account on a monthly basis without you doing much (if you have a management team in place).

[@ALPHADOG1900]

@@antonioarancivia1857 my point is credit score is only relative to the person income. Its all about cash flow my man, when Donald Trump knocks on banks doors for real estate loans, those banks could care less about his credit score and more so about about his financial statements and CASH FLOW. For instance, I have a friend entrepreneur from France currently residing in NYC, with no Social Security Number or even Tax ID, but yet has major American credit cards in his wallet. WHY because he has Cash Flow in the Bank.

[@philliptemple9841]

Some are asking why you would want $1m when you are 65? No, it's not a pot of cash for you to spend. It means you have a $1m investment fund for your retirement. You are no longer working so this is now your only source of income. Say you invest it with an 8% return. This will give you an $80,000/year 'salary' to live off for the rest of your life, or $6,600/month. And that's without even touching the $1m capital. Some point out that $1m won't be worth as much in 30 years. True, but even if spending power halves that is still the equivalent of $3,300/month. Not bad for a modest retired lifestyle. Of course the capital is there as a safety net, should you need to cover emergency medical bills, but ideally you grow it rather than reduce it. Phillip.

[@huskidusk]

Get married and stay married. Make your wife and yourself happy. If you can do all this then take care of your long-term savings.

[@mesidye]

it's like planning to live forever. i don't think most people who got married intended to divorce their spouse in the long run.

[@patman8888]

lol marriage is a business

[@hectoralejandro9883]

“Let’s dream a little, it doubles every three years” *walks out the door*

[@Danielaudiobooks]

Thanks to you and Danielle I made my highest return last year ( averaged 25% ). Prior to this I was making 6.6%. Thanks a bunch for being great teachers and helping to condenser Warren's teaching into understandable pieces.

[@tonyvolume666]

I’m 29, in a Sailors Union with a good retirement pension and at a good place in my career. I’m putting away to move away from the SF Bay Area, and get a house in Hawaii where the jobs are better.

[@estm1988]

I want to invest. I do check the requirements, even though I don't know anything about finances. I'm trying to assure for my daughter's and my own future. so it came up to me, to do the search. I understand the concept, even though I do not know the way.

[@caryn1158]

Do you have any tips for those who took money out of retirement account and want to re-invest one they have saved the money again.. or investors in their 50s? Who are trying to improve their investment practices?

[@iamscoutstfu]

Hey Phill. i'm investing through my bank. Is it typical for there to be a lengthy delay between the stocks I choose to buy and the actual act of purchasing them? I've been waiting almost a week now and no change to my portfolio.

[@badass6656]

Have you heard of extreme savers? The principle is to save at least 75% of your salary with a 4% real return you retire in 10 years or more accurately you can cover essential expenses with unearned income. I personally saved close to 50% for about 20 years. Such large saving rates are necessary on median wages to retire significantly early. The rest I am afraid only makes a difference at the margin. The other routes are to build rental income if you have the ability to manage property. Build unearned income through your efforts like creating and building a business.

[@bradvincet1848]

Resisting lifestyle creep is the real challenge. Even if you accumulate large wealth over long periods of time, you will still be unable to enjoy it. You won't be able to break the mindset that got you there and the added fear of losing your wealth at a late age in life.

[@martinerongu917]

Very valuable.We appreciate.

[@praveenpulikutti]

I’m 31 and can start saving 5k an year upto 65 to become a millionaire.. but i will probably die at 66 coz thats how lucky i am ..

[@SharonM623]

Praveen Kumar Be careful what you speak over yourself

[@machintelligence]

I'm planning on living forever. I'm 70 years old and it has worked so far... ;-)

[@attorneyinvestor3941]

@@machintelligence are you still alive now?

[@machintelligence]

@@attorneyinvestor3941 Very much alive. So far so good.

[@BananaCakeGirl2023]

Don’t think like that Kumar! Live long and prosper!

[@wonderinghumanbeing9924]

Wow this applicable for anywhere in the world.