The Growing Problem With Personal Finance YouTuber "Influencers"

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I have some bad news for you…
You are probably not going to be rich.
Not a particularly positive message to start a video on but its something that people need to hear from time to time.
Unfortunately, this is not something that most people want to hear, so there is no shortage of people out there that will tell you exactly the opposite, normally as a way to pitch you some kind of product.
Now of course most of you watching know that the KZbin ads saying that you can earn 6 figures in a month by selling on Amazon, Forex trading, or flipping real estate are full of shit.
But they still all follow a pretty similar routine,
hey, you can get rich
as long as you are willing to do XYZ
while listening to the advice I give you!
Again when it turns out that this advice is something that you have to pay for, most people get wise to the fact that it’s all just a massive scam.
Of course some don’t, which is tragic and there really genuinely should be more done about this, but that’s a story for another time… or a Coffeezilla video.
Instead the focus of this video will be on a group of internet guru’s with much more influence, a much larger following, and much more credibility, the personal finance personalities.
So it’s time to learn how money works and find out why you probably shouldn’t be learning to work your money like these popular KZbinrs might suggest.
#PersonalFinance #Investing #HowMoneyWorks
___________________________________________________________________________
Music by Epidemic Sound
Links to all channels mentioned in this video
Meet Kevin - / meetkevin
Coffeezilla - / @coffeezilla
Graham Stephan - / @grahamstephan
Andrei Jihk - / @andreijikh
The Plain Bagel - / @theplainbagel

[@colochapeligrosa]

I was a big follower of all people mentioned here, but it didn't take long to realize the strategy: buy consistently, live below your means, have an emergency fund, buy low sell high and when the market is down, keep buying... There, I saved you hundreds of hours. Loved the video, thank you

[@AndrewRMontoya]

“People need to be reminded more than instructed” - Samuel Johnson Nothing wrong with making content that re-enforces good money habits.

[@InvestingAlex]

wrong, u can't time the market consistently over the long run hence buying low selling high is pipe dream. Your kind of advice could be gotten from some random financial advisor at a bank. The purpose of these video is to learn as much and as detail as possible about finance. Whether it's a good idea to act on these advice or not is up to the individual.

[@evacody1249]

🤦‍♂️ why is my cell phone bill so high. So upgrading every year and being on a payment plan. Either out right buy you're phone and go with a cheaper plan or buy a cheaper phone. But but I need it. No you don't need the flag ship phone. Just like you don't need that sports car or that 500,000+ dollar home. You only think you do.

[@Sinoops]

@@InvestingAlex It's true that you cannot time the market consistently, but that's why you don't sell. The longer you stay in the market the higher chance of roi.

[@dlb550]

@Jao Bai Dun You just said you can't time the market and then said put more money in when the market goes down, but then you might sit on money for 7-10 years waiting for the market to go down.. most normal people sould do dollar cost averaging in to an index fund, it's simply the easiest and most likely way to be "successful".

[@thekingofthisworld2154]

Caller: Me and my wife have got a bunch of debt. We’ve got three kids. Dave: Sell the kids.

[@ralphfurley4217]

Good one.

[@grantwithers]

Dave always knows what to do

[@yurigadaisukida4457]

Rent the kids out and use the money to invest in more kids

[@honeylemon2372]

😂🤣😂

[@cromwelltheconqueror3430]

Based.

[@alexanderkeny5072]

Here’s a but of advice I learned from my grandfather who was an Accountant. “Sure being young and rich is more fun than being old and rich, but trust me you do not want to work your whole life to end up old and poor.” :/

[@amycuff6277]

I think the problem involves most peoples definition of “rich”. Most of us would never be able to own several homes or their own personal jet, but to be free from debt and have enough money not to be compelled to work at a job that has lost it’s enjoyment still puts you in a powerful place. That is something that is attainable for a good portion of people.

[@beng4647]

Nope. Society would literally collapse. Only 1% can live like that. The rest will be required to support them.

[@TheCarnivoreSoprano]

It used to be attainable. That day has passed.

[@zachdebuhr6347]

Owning several homes is orders of magnitude more attainable than a private jet

[@johndvoracek1000]

Sweetie, you need to visit the other side of your town. If you live in Aspen, however, visit downtown Denver.

[@EdithEsquivel]

Only people with a financial philosophy and financial literacy will understand your comment. Yes, money is for calm and freedom.

[@TheOneWhoMightBe]

"...no one is talking about how they lost their life savings flipping houses." I should make a KZbin series on how I lost $80k on a house rehab. If I embrace the Art of Bullshit I might be able to stretch it to five, maybe six episodes?

[@HowMoneyWorks]

That's the spirit. If you plug your merch you might even make your money back.

[@TheOneWhoMightBe]

@@HowMoneyWorks "Don't forget to like, subscribe, and smash that bell like the fist of an angry god."

[@WackadoodleMalarkey]

I wonder if anyone would like to follow my follies planting corn and fixing junk😸

[@kabloosh699]

Pretty sure Dave Ramsey does do that and will remind you from time to time how he fucked up and blew everything and went broke, but managed to climb out of it and now he sells his technically "idiot proof" method of getting out of debt which has made him wildly successful. He just had to fuck up. That is actually something quite common for a lot of successful people. They all fucked up. Multiple times even, however they took the risk and eventually won in the end. Statistically, you are still going to lose, however you can't win if you don't play the game in the first place.

[@nickh2053]

If you don’t mind me asking, how did you lose 80k on a house rehab? Did you pay too much? Uncovered additional problems during renovation? Problems selling?

[@alexanderlyon]

I love right around @6:30 how you talk about how most people don't want to hear about "being old and rich" (which is a reasonable long-term goal). People want to be "young and rich," which is usually where the scammers come in to feed and pounce on that desire.

[@jseen9568]

Which is funny because at least 2 of the 3 (Graham and Dave) preach slow wealth building. Investing index funds, mutual funds, real estate ect. Even in the video he mentioned about Graham, Graham still says it's about slow building not quickly.

[@aalb1873]

You fixed the point.

[@Chris-es3wf]

@@jseen9568 Dave also swears you can get 12-15% annually from mutual funds which is simply false. Dave is selling his books and satellite classes (that he farms out) while using his platform to spout outdated Reagan ideology like a dementia patient. He honestly doesn't know much about investing other than "be born at the right time in history and buy real estate on leverage".

[@jseen9568]

@@Chris-es3wf that has nothing to do with any part of this thread.

[@Chris-es3wf]

@@jseen9568 You mentioned Dave... I called out Dave. Are you having trouble connecting the dots, stimulus pleb?

[@mattpredictsofm.]

Personally I disagree because success is attainable whichever way but it is also advisable to seek the advice of a professional and ask questions before getting into something you have little or no experience on

[@hueymorello5115]

Everything is negotiable. Whether or not the negotiation is easy is another thing. Carrie Fisher

[@Ryanjcanfield]

@@mvanwie the entrepreneur from the podcast about finance week? where she referred to debt as the engine of the economy? Interesting. She seems to be priced for a monthly return of 11%. Yvonne Anette Lively, specifically

[@joecaruso06]

@@Ryanjcanfield Actually, the ROI is 9.3% every month. I recently looked up her page.

[@scootergirl3662]

Why did this comment get 3k likes? It’s saying stuff how money works also said He’s not saying you can’t be successful, he’s saying to be more realistic

[@tymondabrowski12]

@@scootergirl3662 Because it's probably a bot, or like a human handler of bots. It's pretty generic and the comments are full of bots (if you read comments under any financial advice video, you'll see many bots recommending a specific trader; it's often a different name but suddenly all those accounts know the trader by name and whatnot, there are other signs too), which is how it usually is. I guess a top comment being too obviously bot-y is bad business in some way.

[@ImtokyotheDog]

Financial KZbinr: "Remember guys, investing is a marathon, not a race. Stick to your plan and in 20-30 years you'll have a good nest egg and a nice retirement." Same Financial KZbinr: "Anyways, here's the 6 story mansion I bought at 22."

[@garrettmoise1003]

Exactly!! They are young and rich telling you to be old and rich😂😂😂

[@fernando3061]

@Don K Or start a religion, at least that's what some dude in a library told me.

[@fernando3061]

@Don K There you go yea, forgot about the tax exemption thing.

[@thekrustychub5038]

​@Don K fuck it i'll follow your crazy religion

[@woodside4life]

@@fernando3061 Daddy needs a new Porsche!

[@yourmakemoneycoach2874]

They're entertaining, but I stopped listening to them when Kevin (a real estate agent who invests in rentals) started pontificating on the economy, Graham (a real estate agent) began musing on the stock market and Andrei (who a few months ago was professed a love for dividend investing dropped stocks paying dividends -- the distributions are expensive now at his tax bracket-- so he's now a crypto guy). Let's face it: They make money on KZbin. With that in mind, treat the financial advice with a grain of salt.

[@HowMoneyWorks]

Well said

[@carlosb.9032]

Glad to have seen all their videos while they were still making more off of their "things" than their KZbin channels. But I can see why they needed to change up the content to not keep on saying the same solid advice that they were experienced in.

[@IrelandVonVicious]

If you have dad's money and lucky timing you too could be Kevin.

[@williamwayne4043]

@@IrelandVonVicious As far as I'm aware he started with 3000 dollars not from his dad. Where did you hear that and how much did he get and when?

[@IrelandVonVicious]

@@williamwayne4043 He states it himself in a video about his first purchase. His dad gave him the entire down payment at the bottom of the housing collapse.

[@piotrp1399]

"Nobody is going to make a video on how they lost their life savings..." - now that's a niche worth exploring.

[@La_sagne]

dave ramsey talks about it all the time.

[@JasonPrice1]

@@Anonymous-ld7je Tyler Hoover doesn't truly lose money but his Hoovies Garage channel is as close as it gets! The money he tosses on those old hooptie cars is spectacular sometimes.

[@TwoDollarGararge]

Its called loss porn on WSB lol

[@343guiltyreflex]

Dave Ramsey has talked multiple times about how he went from a millionaire to bankrupt

[@TwoDollarGararge]

@@343guiltyreflex alot of people have does not mean there ideas are bad

[@lluewhyn]

My father was studying to take the test to become a CFA. He eventually dropped it because most clients just wanted to know how to "Get rich quick", when his advice would be more like "How to get rich slowly".

[@ChrisStoneinator]

One minor correction: being a rockstar is INCREDIBLY high effort, if you hold yourself to any kind of standard of performing and work your way up by playing regular gigs across the country and/or world.

[@jackheinemann1994]

Fact and people don't realise this, only the smallest cross section of the best players every become famous

[@r.velarde9946]

But what I think he means by low effort is that unlike his comparison of say a doctor or dentist, a Rockstar does not have to ace his high school SAT's/ACT's, then ace all STEM classes at his university, in 4 or less years. Then take entry level exams to enter into graduate universities, like the MCAT, or LSAT's. then ace all those classes in less than 3-6 years. After that, pass ALL state board certifications and licensures, and maintain all professional development seminars to be retained as board certified. And even if completing all these prerequisites, gives you a slight edge over everyone, although, student loans may be a huge factor to financial wealth but it is still more certain than not. I get it that Rockstar's have to work hard but the entry level to start is no harder than you or I, hence the low effort. Justin Bieber or Adele and others were/are successful and do work hard, but the hundreds of thousands if not millions (maybe hyperbole since I do not have exact statistics) have tried have not faired as well. But I do agree with your second premise.

[@tomasbeltran04050]

Arts and sports are luck-based ways to be rich. But you still need to be smart understanding how to manage any success you achieve

[@kalyani1379]

True it's good enough effort but low certainty because entertainment industry is mostly run on nepotism but that's why it's still can be called low effort. A doctors job is definitely high effort, the pressure on them to ace EVERY test is unmatched. I think the difference is, there is no place for mistakes in one profession and in the other one making mistakes aren't a issue if you can manipulate the situation in your favour since it's often not a one person job. It's a team building up the persona of a celebrity it's more like a small company. While a doctor is all on their own. Another important thing is the role of luck. Since these celebrities are born into their respective families with connection there is a big chance factor here, big luck factor. Half of their work is already done the moment they are born so basically they cleared the entry level the moment they were born, but it's not the same for a doctor. There is less chance factor. I am talking here about successful celebrities only because those who didn't succeed they never even cleared the entry level due to luck factor doesn't matter how much effort they actually did. Like would you call tiktok ppl high effort? It's not that they didn't strategize their path or didn't put effort but at the end the algorithm decided for them. The luck factor is here too.

[@dontthrow6064]

everyone is talking about the guy who made millions in a few years starting from virtually nothing, but no one talks about the guy who lost 20 billions in 2 days (figuratively speaking)

[@tyrist3038]

Sure they do, and his name is Bill Hwang of the former Archegos Capital Management.

[@dontthrow6064]

​@@tyrist3038 i was referring to the hype around survivorship bias and disregard to failure stories (but thanks for the clarification in case someone didnt catch the reference) as someone made a joke: you know? 30% of the population is involved in an accident during their lifetime thats not gonna be me the chance of winning the lottery is 1 in 20mil you never know (if you dont try)

[@prw56]

occassionally you will actually see that on r/wallstreetbets

[@dontthrow6064]

@Luke Brown thats because they were "QuItErS"

[@dontthrow6064]

they didnt believe enough in tHe LaW oF aTtRaCtIoN

[@jidduv]

I have zero debt and a decent salary for my country. Finally listening to Dave and putting his advice into practice saved me from a lot of worry during the lockdowns. I put together my emergency fund in the months leading up to the start of the pandemic and built up my six month cushion in the following months. I'm in a much better place financially than at the start of the pandemic and I've been able to face down major car repair, AC replacement, refrigerator replacement all in turn without breaking a sweat or worrying about how to afford it. Dave got me there just in time and I'm thankful to him for that. I don't like his politics though.

[@BeautifulEarthJa]

Fr. I don't see Dave in the same category as many others.

[@user-eu3qy8uf7f]

Screw the politics because politics ALWAYS comes down to MONEY 99% of the time. I just look for the info that shows a me how to leverage my bottom line. I had the same internal warning two years before the pandemic and saved saved and saved some more. When pandemic hit I had everything neede and during pandemic realized I didn't NEED a daily Starbucks, takeout, dining out or excessive travel. Now I'm sitting pretty in silence and knowing I can weather almost any storm and can help others from the nackground.

[@Michael-vc2cs]

I generally appreciate this video. These guys make it sound way easier than it really is. Money - Knowledge = Massive Risk No Money + Knowledge = Massive Potential Money + Knowledge = Minimal Risk This is what I've learned from investing personally. The less I know about a subject the more likely I am to lose my money. The more I know about a subject the more likely I am to succeed, given the money to accomplish it. If you know what you're doing people will give you money for your expertise. You can then use their money, not your own, to solve big problems and get rich. There is no magic formula. You must solve BIG problems to be rich.

[@tannerdrake]

The biggest red flag with most of the finance influencers is that they've only existed during a bull market where it's almost difficult to lose money. Andrei Jikh's blind bullishness on crypto and MeetKevin's ridiculously reckless "investments" should be completely ignored. However, I think that Graham Stephan and Dave Ramsey have positively influenced me. Between them I've taken away some good financial rules to live by: 1. Justifying debt will just keep you from getting out of it 2. Lifestyle inflation and frivolous spending are the biggest enemies to saving money for investments 3. Time in market (in mostly S&P 500 ETFs) beats timing the market 4. Most people are terrible with money so don't do what's "normal" 5. Smart investing is as much about being realistic as it is about the math equation

[@crestinglight]

Totally agree with you! It's not glamorous, but we've been strong and steady and are in a really good place with advice we've picked up from those two. I'd rather be a millionaire in 10 years than trying to "game the system" and get rich quick, likely ending up with nothing. You just have to know how to filter out the good advice from the reckless.

[@REgamesplayer]

Uhm, those two give good basic advise. That about it.

[@dachicagoan8185]

wait until the market falls flat and their investments no longer make them money. People will unsub from them so fast.

[@lupus7297]

yeah that will be interesting, i wonder what will happen to the social media investing scene when there is a multi year bear market.

[@NathanielKroll]

Love this! With your 5th point, Dave says most money problems can't be solved through math, it's behavioural changes that need to happen.

[@benjamino.7475]

Your perspectives are always something fresh for me on the KZbin sphere

[@HowMoneyWorks]

Thanks mate, it's good to hear I have something to add.

[@IncomeBoost42]

Great channel. Graham is entertaining, Andrei is magical, Plain bagel is informative but Kevin is just wreckless. He once made a video on how emergency funds are useless and I was so incensed that I had to make a counter-video (which is the only counter-video I have ever done). Completely agree with your thinking - it’s refreshing to see creators who aren’t afraid to go against the grain and give people the hard truths when needed.

[@2011hwalker]

these clowns made a ton of money in the ridiculous stock market run of 2020-2021 and generally have no clue.

[@jedpratte]

Graham and Ramsey did help me years ago. My wife and I were living in apartment and big car loans thinking we where smart. 7 years later we have a house almost paid for and zero debt. We are now learning how to progress further but we needed that start to get on track.

[@sman96490]

The fact that you don't have a KZbin channel of your own which is making you money while you're sleeping then I'm sorry you didn't learn anything from them. Don't worry, I'm in the same boat. I don't have a channel either.

[@jedpratte]

@@sman96490 hard to put the time in when ya own a business too :/

[@arnoldbaidooupdates]

So they gave you a financial advice

[@shaunsensei6948]

@@sman96490 lmao facts

[@iwritechecksatthegrocerystore]

@@sman96490 😂😂

[@GabrielMartinez-sd8pc]

Been a Ramsey disciple for a while. Got out of debt. Built a 6 month emergency fund. 60% of income to savings and investments. Financially free. I know people don’t like him, but worked for me.

[@kevinluu7024]

Ramsey who?

[@clandestinekits]

@@kevinluu7024 Dave Ramsey

[@freshtapcoke]

And he gives away all the information you need on his show for free. He was definitely the one that changed my financial future.

[@TheStonesQT93]

No offense at all, but these are super basic principles. Charlie Munger has been harping on about this for decades (the dude is 97). This just tells me education systems are shit. Not your fault (mostly).

[@KampsKnows]

@@TheStonesQT93 lets assume the guys you’re talking to is in the younger side. I’m 26 and didn’t learn of Charlie until about 2 years ago. He can harp all day long but most young people aren’t trying to listen to or follow guys that are almost now 100 years old. Also, yes the education system is shit. You learn little except how to deal with people (hopefully). Glorified babysitting gig

[@rushopolis]

Never forget these guys made most of their fortunes being ENTERTAINERS! And most people don't have what it takes to be one.

[@ErikPT]

I disagree Kevin is a self learner who is obsessed with financial education, here’s why: real estate wealth doesn’t last when one asset is impaired. Graham is more of an entertainer. Kevin is a journalist? Real estate investor, big investor, who is also running for Governor.

[@WestZ]

@@ErikPT Graham sold real estate first

[@nickh2053]

@@WestZ Graham has made most of his money from KZbin. He’s basically got a radio station coming out of his house.

[@WestZ]

@@nickh2053 noice! His inspiration was Dave Ramsey, after all 😅

[@SebastianRocks1234]

@@nickh2053 his initial millions were in real estate

[@ddeine_]

I have rarely found a video on the internet that spoke to me so much as this video. All the respect to you for not being afraid to talk about of their BS practices. To this day I still fall for their excessive clickbait, thinking maybe I will learn at least 10% new stuff from those videos that were already so devoid of content and stretched over the 10 min mark just to bombard you with ads every 2 minutes and 2 sponsorships per video (Graham). Literally had to get YT Premium cause of him to prevent getting cancer. Everytime I watch one of his videos till the end I regret having wasted my time but his BS thumbnails get me everytime.

[@scalarvector9678]

Echoed with me man...haha

[@MRkriegs]

Just get an adblocker extension on pc and run KZbin through an adblocker app on phone

[@treek10k]

Jesus Christ died for your sins on the cross. Repent and believe in him or you will be separated from God The Father for all eternity and face hell forever, for all eternity, never ending

[@MrSupernova111]

Holy shet!! In all the years that I've been watching financial videos online this is the FIRST time I watch content related to personal finance investment as honest as this. I actually have a degree in finance and while in school I specialized in security analysis so I know a thing or two about investing. It really irks me that just about every popular finance youtube channel I find are riddled with errors or are outright misleading. The right way to make financial videos is to do it from an educational point of view or discussing current (unbiased) news. But the clowns can never leave it at that. This video is truly a breath of fresh air!! Thank you! Subscribed!

[@RRR20238]

“Nobody is going to make a video of how they lost their life saving trying to flip homes” Dave Ramsey entered the chat

[@cisium1184]

Yeah, Ramsey is the only one of these guys I ever watch, and he seems to discuss that topic frequently. And anyway his area is getting out of debt, not investment advice. He just tells people to stick their money in ETFs, which is not exactly groundbreaking news.

[@agentsnorlson7913]

Not exactly. He looks down on indexing and says people should buy into mutual funds making 15+ to 20+ percent a year average. He says he owns some such funds but never elaborates which ones outperform the market consistently that highly. Only really questionable view Ive seen him take.

[@brucebanksshow]

Plenty of people talk about their losses. No one cares about wins or losses as long as it's entertaining.

[@blipblop92]

@@brucebanksshow they wont be if they trying to sell you a course

[@AwesomeTea]

@@agentsnorlson7913 If you are interested you can just look up funds by percent return and then filter by inception date on any given database

[@danielshaffer2609]

Guy who runs KZbin finance channel: "Don't trust people with KZbin finance channels."

[@KENTOSI]

If you can't beat em, join em :-)

[@willbuysbitcoin]

None of this is the fault of the youtubers. They're literally giving people the financial education that schools don't give. It's massively positive for people who can handle a bit of finances. Gamblers, however, are just going to gamble, and that is absolutely no fault of the youtubers.

[@leviboswell9510]

Bahaha right! I liked it though

[@blancajrodriguez]

😂😂

[@BewareTheLilyOfTheValley]

You're missing a word, "Personal" finance channels. He doesn't give advice on personal finance, or at least, even if he dabs into it a little, it's not the bread and butter of his channel. Honestly, this is more of an economics channel but we already have a channel called Economics Explained, lol.

[@stephenthompson7362]

Video: "Overhyped ads about getting rich quick online are a scam." Midroll ad: "Hey, guys! If you want to learn how to make $1000 a day online..."

[@hacep160]

Yep

[@briananderson2219]

That is in there just to give you an example of what he’s talking about, that’s all🧐

[@OCJoker2009]

So damm annoying!

[@jeffbenton6183]

The algorithm needs help, I guess.

[@danieladams3084]

Yea I got the exact one that he showed in the beginning of the video

[@lucymartin881]

The amount of time we spend believing we can't is more than enough time to learn how you can. - my Brain

[@mariaprice4725]

2021 online stock is just difficult and unbelievable, I'll rather invest my money on crypto

[@mariaprice4725]

People are ignorant of the profitability in bitcoin Investment and that had been their major issues limiting their Investment

[@sapiloogheneochuko2246]

@@mariaprice4725 Nice words 👌

[@sapiloogheneochuko2246]

For real it's true this could be the wisest word I've heard, you got my point

[@ericwood4794]

Nice words especially with the current rise

[@YoungMule]

I appreciate this perspective. We can get lost in the details and forget these are influencers. At the same time I can’t blame them, at the end of the day I think people go to KZbin more for relationships than information.

[@laylow9o965]

Im a truck driver and to pass the time I like to listen to podcasts/KZbin and listening to these finance gurus, help me get out of 58k debt... im debt free thanks to those guys listening to them everyday really help me stay on track when I wanted to quit on everything

[@adamdominguez7470]

I'm a UPS Driver (pkg) work 55 hrs a week too... I love listening to all these guys. I don't really follow their leads other than High Divided ETFs (not a big Risk-On guy) . I find it too very motivating to keep on Investing, or even willing to pull in that extra OT. They get u thinking about your finance more and that is a good thing

[@mikezerker6925]

That’s awesome! I watch a lot of Dave Ramsay videos (which is probably why the KZbin algorithm brought me here) and have now paid off all my debt and my mortgage and am investing for retirement.

[@Howtosurviveamerica]

I feel for you buddy. I spent a lot of my time listening to these influencers myself just to feel some kind of hope and try to learn something. I think if you find people to listen to that makes you feel better then that is absolutely valid. Sometimes we need to have that other person talking to us especially when out working alone.

[@meibing4912]

Congrats! There are lots of good and bad advice out there, but thinking about your finances, exploring options and acting on opportunities sure beats staying ignorant and potentially in a bad economic place by a very long mile. I disagree with Ramsey on a lot - but he has got one thing right, he really tries hard to get people to act on their situation and not get stuck in being hapless victims of their circumstances.

[@sexygothgorrilla]

Also not that hard. You probably make 100k a year easily as a truck driver. You're living the republican dream, making tons of money without any education. But congrats on getting out of debt. But those youtuber scammers didn't help you. What really helped you, was the opportunity of being able to get a great job with no education, whereas those places reject tons of other people who apply

[@MrAssChapman]

Graham is actually really good at emphasizing the importance of consistent investing, and slow, compounding long-term growth.

[@wallpello_1534]

100 percent, he is way better than keven

[@marksilla8276]

I just feel weird that most of his money came up from KZbin. He started out as a real estate millionaire, but most of his money came from KZbin(Even when he was way smaller than he is now). He does have sound financial advice but no one will become as rich from real estate or any other advice he gives. If you want to be Graham, be a youtuber and make financial advice videos and hope to hit it big. It's like the Dan Loks of the world but with less scammier products

[@jam4448]

@@marksilla8276 saaaame thoughts! I used to not like Graham because he's spewing out all these ("not") financial advice as if he made money with that. But he didn't he made money by being an influencer. So if he'll be teaching people how to be rich, he should be teaching people how to leverage your knowledge into becoming an influencer. But I still do watch them millenial money youtubers more on finance news and entertainment purposes.

[@SimonTimbers]

Graham is the only one Ive heard actually say “start a business” in some of his videos

[@AA-il9pc]

@@SimonTimbers “Start a business” won’t work for most people.

[@jimmbear3998]

I watch Graham he doesn’t pump stocks or investments. His advice of saving, not spending on stuff you don’t need, investing consistently, and choosing the best credit cards is sound. Additionally he provides entertaining news and informs about various personal finance topics.

[@EwYoureCringe]

He literally was advertising FTX lol this did not age well

[@IncomeBoost42]

I love this video so much, I had to comment twice! (sorry). Creators are often faced with the dilemma of making content that people want to hear and thus be successful on KZbin (and rich) or make content that may upset them because it will burst their fantasy bubble, and therefore not likely to get as successful. The second option is the most ethical and sustainable way forward. In fact, people should thank you for opening their eyes and saving them trouble down the line. I know I would!

[@DarkDragonLord]

Stephen Graham got me moving in a positive financial direction by listening to things he says over and over again. "time in the stocks is better then timing the stocks" and "spend less". However a negative point of view on some of my favorite KZbin's helps me think critically about what they are saying.

[@The8224sm]

My old granpapy said to me "son never gamble because the bookie never takes the bus home"

[@theprofitdare3704]

Your granpappy was wise!

[@clarkbozojohanson2967]

Appreciate this type of take my man. Highly nuanced, and not necessarily targeted but you also don’t fail to hold these creators accountable.

[@lukemaibach7657]

I love how you make a financial advice video, about how the people giving financial advice are full of crap.

[@stefanklecin4201]

great vid man. Im 20 years old and I see a lot of my peers finding advice from guys like that. I know its a bit hypocrtical for me to say that and also say that your advice is great, but i think its always important to listen to both sides and not to be impulsive. I think this is not a topic that is explored enough and that so many impressionable people, me included, have believed or still believe in these stories. Its just harming at best and life ruining at worst and Im sorry that it isnt more talked about on youtube or other platforms. Keep up the good work, and maybe explore this topic even more, wishing you all the best

[@HowMoneyWorks]

Thanks Stefan! I appreciate the thoughtfulness from you and the kind words

[@jessvagnar4957]

The best way to make money is save and invest over time. The more of your income you can safe and invest in the SP500/market index ETFs the more wealth you'll generate. I scrimped and saved in my 20's and have absolutely no regrets. Its quite nice.

[@doducduy96]

Start investing NOW. Each dollar you invest in your 20s is incredibly powerful. I’m 25 and I been putting $1500-$2000/month towards my Roth, HSA, and taxable account every month. No I don’t have a high paying job, $1500-$2000 is UberEats and Doordash money I grind extra in the early morning and at night everyday.

[@markmedley6849]

@@doducduy96 Exactly!

[@cashrewardsnetwork]

Amazing to see the growth of some of these channels! If you're a small channel, keep up the hard work and one day success will surely come your way!!

[@joncraig8791]

I began accumulating wealth when I started following up my investment properly,

[@joncraig8791]

RMkarl

[@AnnaFed015]

[@Windarti30]

Rodger M. karl's strategy has been helping a lot of traders/holders out there, with his program I was able to recover my losses from the crash so swiftly

[@stanleyzac1648]

[@tthis5299]

This bots are so annoying lmao. Anybody reading this can tell it's fake but to those who can't it's fake

[@St34mPunkPrivateer]

KZbin is a great place to get inspiration, basic overviews, but at some point, you have to take the deep dive into the research/risk analysis pool on your own to figure out what your comfortable with investing in. That being said I do believe these channels do a service in getting people interested in their finances. The problem is when someone takes this to the extreme and dives in the deep end with understanding the risk, but at some point personal responsibility has to be implemented into social media from a viewer perspective, not just influencer perspective.

[@condorb7756]

This is the most underrated comment ever

[@SaifuddinRehan]

agree with what you stated in the comment

[@filip9564]

YES! The financial youtubers are good for learing the very basics and getting your brain going. Then you should always go on your own journey

[@charliedallachie3539]

I’d say if you’re able to put away a years worth salary into an emergency savings account (takes years to do). You’re doing better than most people. Not living paycheck to paycheck or worrying about losing your job removes a lot of stress.

[@andrewmurphy5310]

Best way to save money is learn how to cook. Buying lunch and eating ready meals really adds up overtime.

[@jont2576]

How much do u need before u can call it fu money?

[@natejohnson3016]

Most people can’t save a dime because they’re brainless consumer sheep. If they would just treat their savings like a bill and pay it monthly maybe they wouldn’t be so poor, instead they buy worthless garbage and wonder why people have it better than them. That’s why I don’t feel bad for (most) poor people in America. While I understand that some may have unfortunate circumstances that hinder their ability to ever succeed, most are lazy, dumb, and entitled. It isn’t easy to make money and also keep it. The middle class and rich aren’t just magically better off than the poor. They work and save and invest and treat every dollar like it’s worth 10. The poor treat money like it’s some hard to get and precious commodity then turn around and spend it like it’s worthless.

[@ralphfurley4217]

@@natejohnson3016 Right on! I just started DoorDashing. Blows my mind how people waste their money to pay someone to drive a hamburger to them.

[@zdwade]

Ralph Furley I don’t like to drink and drive for a burger. It’s risk mitigation

[@InfoSecGuardian]

This video - Spot on! I usually find You Tuber videos full of themselves, spewing misinformation, not well educated on the topic, and down right giving people bad advise; albeit, rather entertaining. But this one... kudos... it's totally right. Congrats!

[@steelcity4581]

Dave Ramsey’s financial advice is about as solid as it gets

[@19erickpana]

I agree, very basic personal finance knowledge. I watch most of those guys and know that a lot of what they say is entertaiment not actual advise. I agree with most of what Dave Ramsey says except for the part of no credit cards or taking out debt to finance investments, that's how the rich get rich. Dave Ramsey is not a good source of investment knowledge, only how manage your money and budgeting. He's made his fortune giving advise and talking about money rather than practicing what he preaches. In fact, it's how most finance gurus make their money, by talking about it rather than practicing their own investment strategies.

[@carolperdue7534]

His advice on credit is terrible.

[@TheRoyalTNT]

​@@carolperdue7534 It's really not though. Credit card companies are experts at exploiting human psychology. By providing "perks" and delayed payment, the end result is that you spend more than you otherwise would have-the credit card company always wins (same as the Casinos).

[@kakefisk]

​@@TheRoyalTNT that might be true, but to never borrow money for ANYTHING, because Dave went broke by using ultra risky debt in the 80ies(but never telling you about it properly) ? Thats just dishonest.

[@jman2542]

Even though the click bait titles are annoying, Graham has consistently sound financial advice that will apply to the majority of people. He's the only one I'd recommend to anyone just getting started in investing. But even then, you're not wrong in anything you said. You have to remain skeptical of everyone, including KZbin influencers.

[@yspr_vahl]

especially because graham tells you that you’ll get old and rich if you invest consistently over the years - like the guy in the video also said

[@TheGalacticVoid]

In the video mentioned at 5:19, Graham literally talks about how these investments are long term in the first minute

[@contingenc3548]

Andrei’s my fave

[@boilermulz]

Graham's ok albiet very basic, i think the Money Guy Show is the best mix of GOOD advice that goes just a bit past the basics. But still interesting/fun from a daily/weekly watch perspective.

[@metzgerdewsky]

5:55 "[your investments] should continually provide over many years or decades and return that value back to the investor steadily over the same time period. The generally accepted rate of return of a well diversified portfolio is anywhere between 6 and 12%" It's like he's quoting Graham Stephen here. You can't criticize the KZbinrs for saying something and then turn around and say exactly what they're saying.

[@darius2640]

someone had to say this, all those graham, kevin, ricky guys are all over my feed and they have been getting on my nerves so much. But there is a grain of gold in the barrel of crap, Plain bagel for example is amazing, I trust that guy he knows his stuff and doesnt take sides

[@HowMoneyWorks]

Retweet: The Plain Bagel. He’s fantastic

[@ignazs.5816]

Graham is the most annoying KZbinr ever.

[@Zippyser]

Much anyway. He does slide into slight bias but overall fantastic.

[@archvaldor]

I strongly disagree. I can predict Plain Bagel's position on literally everything before I watch a video, its always this tedious random walker finance school corporate media take on everything which only takes you so far. I found his video on tesla a good example of this: he tries to analyze it like its a traditional car company when tesla is a thousand times more ambitious than that. That old school finance media thinking isn't that much help in the modern world.

[@subzero3091]

If you go to Graham's videos about credit, bank accounts, and long term investing hes extremely insightful and you get to see how to build a base of financial intelligence for yourself to build off of

[@thirdedgeconcepts2271]

As someone with two business degrees, an MBA and BBA in International Business, I find this channel incredibly valuable. I've learned more from you in the few weeks I've been watching than I did in school.

[@AJGress]

As someone who's currently on the same path you've walked, would you say that your BBA and MBA have been worth it?

[@t.j.h.rudman5750]

@AJ That's a good question. What are you looking to do? I'll never discourage someone from studying, but I would caution you if you're doing so with loans. My MBA has gotten me jobs. Do your homework as to which schools you want to apply for. I'm happy I did it, but I had huge expectations for business school that didn't pan out the way I hoped. I imagined it would be more hands on. But that's just my experience. I hope this helps, AJ. Good luck, and please let me know how it goes and what you do!

[@AJGress]

@@t.j.h.rudman5750 Hi, thank you for your reply! Well, I'm currently in my last year of International Business. I did a specialization in Asian commerce, specifically that of the Japanese language and culture but I've done some projects on China, Singapore, and some other countries as well. My experience has been similar to yours. The study has been a little bit underwhelming. Due to Covid I also didn't get to go on exchange to Japan which really sucks because it was a big part of my study program. Now I'm finishing my studies and I do have some loans but I'm European so it's not as bad as the American system (low to no interest, lots of cuts on what you actually have to pay). Plus I made sure to save a lot of money in college, so I can pay off a good amount right after graduation. I'm considering doing a Master in either Marketing, Business Administration, or International Business in my hometown while working and living with my parents to keep costs low. Definitely not taking out another loan. I'm just wondering what my future prospects would look like after I'm done studying. I didn't grow up in a household with a lot of money so I know that my situation will definitely improve after I finish my studies and pay off my debts but since I don't have a lot of family members or connections who studied business I don't have a very good frame of reference for my future prospects.

[@t.j.h.rudman5750]

@AJ It seems like you have a lot figured out. I would be upset about missing out on Japan too. You aren't giving yourself enough credit. I think you'll have to work hard after you graduate since you don't have the same opportunities as people with connections, but you're doing a great job right now with planning. I would also consider a finance option as people always need help with money. You could work in consulting cause it's face paced with lots of travel and high pay. Don't let the fact that other people have connections ruin the hard work you're doing. I've seen the people with connections fizzle out and get fired, but people like you who have something to prove to the world, will flourish.

[@AJGress]

@@t.j.h.rudman5750 Thank you so much, man

[@donkovi6303]

I like what you are saying about those financial influencers. There used to be times in my life when I would consume a lot of their content. Although it helped me in the beginning to actually get a general grasp of the whole thing, it stopped helping me pretty soon. In the end, I found myself watching countless videos of repetitive or unclear advice on things that I did not really need to be advised on. It is called "infotainment". And many people still find themselves in this never-ending cycle of watching another video about some other financial topic that might not even be relevant to them. That is the problem. I think that these financial gurus (not the scammers, just the real youtube financial gurus) can help someone who knows absolutely nothing about those things or is only a beginner. They can help you with basics if you know what to pick from what they talk about. Some of them might motivate you to go on in your journey. But, from my experience, that is about it. In the end, it stops being useful. The worst thing to do in this matter is to follow a huge load of those people and not do anything, not actually commit to do some action. And this is the risk that you run with those gurus if you consume way too much of their content. Now one more thing: I do not like what you are saying about that "low effort, low certainty" and "high effort, high certainty". I would say that it is a bit more complicated than that. Some of those celebrities or KZbinrs had to work their a**** off to become successful. Nowadays, to become a successful KZbinr, you have to put in a HUGE load of effort unless you are just incredibly lucky. So it can actually be a very high-effort, low-certainty situation to try to become a KZbinr.

[@donaldlyons17]

If people were doing something would gurus make videos or sell coursed BEAUUSE I don't think many need their stuff if they have already found what they need.

[@Justin-vb4ek]

You can get rich. It will take 20 years. People just cannot handle that time frame.

[@lombardo141]

In 20 years a million dollars will be the same has 10,000 today. 😂

[@Justin-vb4ek]

@@lombardo141 that's how stupid people look at money 🤣

[@alonzoperez2470]

@@Justin-vb4ek 20 years? That's sad. Really sad.

[@lombardo141]

@@Justin-vb4ek are u implying am stupid ? I know what I said was a little extreme but Inflation is real thing. 100k today has the same buying power as 55k in 2008. I hope you are not “stupid” and know how inflation works right ? 😑

[@lombardo141]

@@alonzoperez2470 20 years comes and go sooner than you think. When you get to the 20th year you would either be glad you put some cash away or regret you did nothing.

[@HowMoneyWorks]

INB4 - Yes I am obviously super jealous. So please like and subscribe so I too can make millions of dollars by talking about questionable personal finance strategies. And sign up for my newsletter! compoundeddaily.com 👈

[@namenloss730]

You put Alex becker in the list, but I feel like he has moved away from that. He does give crypto advice but in a much more transparent way.

[@RanaRandom]

I'm jelly bro... XD

[@hopked]

You don't come off as jealous you just come off as pessimistic. Which to be honest, I see it as more insidious. Even more insidious than scammers. Selling pessimism helps keep people down. Too often are people looking to blame someone or something outside of themselves for their station in life. It's easier than making an effort to change it.

[@thefirehawk1495]

Dropping out of college is actually smart general advice right now because you cannot expect to pay for it in a decade of work in most situations. Either you do college with an income agreement or you learn a trade and start working fast, most degrees right now offer a horrible ROI. Plus you haven't seen Grahams video, most of the time he publishes those kinds of titles it's just clickbait and the you open the video and it's a different thing or it's well researched or some lighthearted thing, I don't like clickbait but Graham is a nice dude that actually cares and you know it, is this a way of just trying to get clout by badmouthing others in the space? Anyway, this video comes across as pessimistic, like, "you probably won't get rich" lol, no, nobody needs to hear that, they need to hear "if you work and educate yourself you have a decent chance of becoming rich" which is the same thing but without sucking the drive out of people, you're not helping anyone with negativity, which is in part why Andrei and Stephan help so many people, they make it accessible, relatable and fun.

[@eilertsenconsult]

It is interesting reading the comments above regarding your supposed negativity. The truth is most people will not get rich. Writing that is not pessimistic, just plain old statistics. And if a KZbin video stating the obvious is all it takes to strip you of motivation, I am afraid life will be hard for you. Greetings from the socialist state of Norway.

[@-Fredrick]

Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..

[@luis-gabriel1]

The first step to wealth creation, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.

[@-Pamela]

You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m glad I was able to hire a financial advisor John Desmond Heppolette, earlier this year while others were complaining about the downturn in the financial market, I was busy cashing out from my investment, eventually making over seven figures in the first quarter alone…

[@Agatha207]

That's great, your financial advisor must be really good, I have seen testimonies of people using the help of financial advisors in making them more financially stable. I just discovered his exceptional resume when I made a Googled search of his names. I consider it a blessing that I discover this comment area!

[@Barbara0015]

I’m impressed by John Desmond Heppolette, professionalism and expertise in financial planning. He took the time to understand my financial goals and provided personalized recommendations that have proven to be successful, with this guide I make monthly returns from investing in assets and mutual funds..

[@christianaemilio1]

Learning is crucial for success in investing. Keeping up with current trends and strategies can help investors stay ahead of the curved and make informed decisions. I’m glad to hear that John Desmond Heppolette strategies and insights have been helpful to most of us. Remember success in investing takes time and effort, but with dedication, commitment and discipline is achievable..

[@Fostext]

This is a great video! When you were talking about some of the worst influences (scammers), it really draws a lot of parallels to the big Wellness influencers who claim to be “not giving advice”

[@TheMightyQD]

Can’t wait for Graham Stephan to react to this

[@NathanielKroll]

He won't because it's true

[@mblumer99]

@@NathanielKroll I would say that most of this video is true but not all of it, Graham Stephen and even meet Kevin do have videos talking about what they would do at different financial milestones, but even then you still have to just look at them as motivational speakers or influencers. No advice is one aisle fits all as this video says, but I think everyone who knows a thing or two would highly recommend building credit, an emergency savings, and a retirement fund wether it’s a 401k or IRA.

[@bigkrazy15]

I love the overall message, but it seems a little unfair to toss Ramsey on the list. He seems to steer people toward risk averse financial stability, not get rich quick schemes.

[@AnimeBeefRandoms]

@@butlernov2006 Financial advice is personal and case-by-case in nature, so your comment makes no sense. Obviously, if someone has a spending problem (e.g expensive coffee) the advice would be to cut that. If it's an income problem then the advice is generally career advice. If you can't afford a car to get to work, take the bus.

[@rolandgharfine534]

You deserve credit for calling this out before the 2022 crash.

[@LuYunong]

A lot of times too they forget to mention the support behind them. Either parents' money support, educational support (example parents teach you about money), or even growing up in a stable house contributes a lot.

[@jesperengelbredt]

Meet Kevin used to be interesting when he had actual content about something he know something about: Real Estate. Now he just sits and comments on stock prices, without having anymore clues than the average WSB Ape.

[@Chris-es3wf]

"Here we go come-on push it, buy the dip, buy the dip" 🎶

[@MrTacoMan123]

I mean, he wouldn't be doing it if it wasn't working right? He's raking in the views and $$$. People actually like watching that stuff i guess

[@jesperengelbredt]

@@MrTacoMan123 I dont doubt for a second he is doing it because it rakes in more dollars than the stuff he used to do. That doesn't make it anymore interesting for me personally to watch. It just tells me that money is more important to him that integrity. Its not like he was starving before he changed the content to this drivel.

[@jonathanhamel5203]

Spencer Cornelia made a great video of how he lost money trying to flip houses. He’s one of the only ones who’s actually honest in their videos

[@SenorJuan2023]

Just because Spencer sucked at it doesn't mean it's not a viable strategy. LOL

[@jonathanhamel5203]

@@SenorJuan2023 never said it was a viable strategy, just nice to see someone be honest about their failures as an example of what not to do. I know plenty of people who have done well with flipping houses, but they typically do most of the work themselves

[@r-type4945]

Saw that video of him and it was really good and reflecting some harsh truths of investment reality.

[@Paratet]

Yeah. Spencer is really good. He's also not trying to sell anything. He's just trying to entertain. He's also one of the few that's really candid about how much money he makes, where it comes from, and how he learned how to earn a living. Key phrase being "earn a living" not "get rich" or "make money."

[@NathanDowdyMedia]

Kevin, Andrei, and Graham are all honest about their mistakes. Kevin literally has a video called "I fucked up" where he admits to breaking a promise with his subscribers. Andrei frequently talks about how he bought into the Coinbase IPO and got left holding the bag. Graham talks about how he rented hastily to some tenants who destroyed his first property and tied him up in court for over a year. They're honest.

[@thegreekgodofwallstreet2509]

I started off watching Graham Stephan and Andrei Jikh. They used to be a good source of the basic info for those who are literally on square 1. People who don’t really know where to start and aren’t committed enough to put in a lot of effort yet. Now a lot of their content has diverged into speculation as mentioned in the video as fake advice. The next step should be moving in a direction that requires more effort and is less fun, but they want you to keep coming back to their channels.

[@HowMoneyWorks]

Well said

[@mafiaseargent]

If someone is charging money to teach you their money making secrets then you already know the secret. Trick people into paying you for a course with publicly available information, nonsense word salads, and intentionally vague or unclear concepts. If they state that they have an online business but never elaborate as to what that business actually is it's almost certainly a scam.

[@OCJoker2009]

Finally someone speaking out on this issue. Its not possible 7 billion can be *rich/wealthy*.

[@theAppleWizz]

Who the f said that everyone will be rich?

[@jacoblester8477]

I actually like Dave Ramsey a lot because he tries to steer people away from debt, which is a big part of what keeps people poor.

[@alvadagansta]

Yea except his advice on paying off mortgage early is what keeps people poor. Mortgage interest is only 3% while stock market returns have been 10% on average. The math speaks for itself.

[@jacoblester8477]

@@alvadagansta sure they've been pretty low recently but if you have a variable rate loan it can go from a comfy 3 to absolute hell pretty quickly. And you aren't guaranteed 10% in the slightest market crash can wipe you out. But if you own your home even if you lose your job or your portfolio you will retain control of your best asset and it doubles as a warm roof over your head.

[@freshtapcoke]

@@jacoblester8477 Personal loans are at 6% right now, and market returns are at 10%. You just keep borrowing money until you're rich! *edit* yes completely joking, but I have seen many people follow this seriously

[@jacoblester8477]

@@freshtapcoke I think you're joking but just in case the overall market is growing at 10% but are YOUR stock picks going to return 10% is the worry. If it was that simple everyone would be doing it!

[@alvadagansta]

@@jacoblester8477 your hypotheticals have no bearing on reality and math. It is a mathematical fact that anyone who chose to invest instead of paying off their mortgage during Dave Ramsey’s career (1992-2021) would’ve, on average, made significantly more money. The numbers don’t lie.

[@alexanderthenobody6492]

I love this guy. Instead on feeding me BS he calls it out. Need more people like you.

[@AnAZPatriot]

I didn't graduate college. Worked my way into a 6 figure job at 38 yrs old. Wife started her 6 figure income at the same time. Started hammering the money away, maxing out the 401k, and a separate savings account. Had everything paid off by 48, house included. Now I'm old and rich 30 years later. Wish I could have started 15 years earlier, but I'm better off than most. For us masses, there is no get rich quick. Those are for lightning strikes, and even I don't play on mountain tops when it rains.

[@doducduy96]

Here’s all you need for personal finance: 1/ DON’T GET INTO STUPID DEBT 2/ Live on less than you make 3/ Invest into the market and/or invest in real estate with the leftover money 4/ Profit

[@pedrojioia]

Market or real estate don't always make money in the long term. Sad but truth is economy is not a constant growth, who knows if in 20s the stock markets will come crashing down.

[@doducduy96]

@@pedrojioia historically they have been making money in any period of time higher than 20 years. What’s your alternative? Letting money sitting in the bank earning 0.1% per year?

[@pedrojioia]

@@doducduy96 It's recent history, but economics is more complicated. In the last century, most of the regions haven't always grown. I wouldn't be surprised if it stagnated again.

[@doducduy96]

@@pedrojioia back to my question, so what could you do?

[@pedrojioia]

@@doducduy96 Personally I am investing my money into stocks, real estate stocks(those are a thing in brazil), and start ups. What I meant was: not necessarily prices will continue to go up, those recent years are a bubble yes, and the tendency is that the West and humanity will stagnate at some point. This is a bit far, but its a true problem in the future. Just like there are people willing to pay 1 million dollars for a tiny house in some specific area, in the future there might not be.

[@Je.rone_]

Am i the only person who sees the irony in this video? I can't be the only one

[@lihlithembamazibuko5920]

You aren't the only one

[@casualtake1497]

Its not irony when this one is self aware

[@robertbrazeau4488]

This is like the 7th straight video I have watched from you, I love how realistic and simplified you make everything. I laugh at every "beep" moments too. You have a new subscriber.

[@steven_king]

I’m the guy who DID invest his life savings...made a few million bucks and lost it ALL...several times. Listening to these types of people ruined my life...and those stories never get told. I’m SO SO glad somebody said this! I’ve been wanting to make a video like this for YEARS.

[@eatinvestrepeat230]

Once in awhile YT sends worthwhile content. Glad I came across your channel.

[@poorlittlebiker6476]

Ramsey hands down has a solid foundation though. I listen to the podcasts while I drive (driving is my job) and I can say it can be repetitive but IMO it’s repetitive because it’s right. 🤷🏽‍♂️

[@elDoober]

except for he too sells his classes and investment funds etc that he makes commission on.

[@m1k3wh1t3]

I love how DR obsesses with getting out of debt (especially credit card debt) because that seems to be what throws off most of us these days and results in more compulsive and bad financial decisions. However, in my opinion, he is remarkably wrong about bitcoin and crypto being a terrible investment and akin to gambling. It seems disingenuous to not mention the brilliance of bitcoin's distributed design and predetermined scarcity while fiat money is being printed at insane rates and inflation is just getting started. Many of us crypto enthusiasts understand that the blockchain technology is the most important innovation of our generation. A trust-less and permission-less system is looking pretty amazing these days, no?

[@_Ekaros]

@@m1k3wh1t3 When did generation change? I'm feeling that there is tad more important things in past 20 years, like let's say mobile internet...

[@bonniehalf-elven]

@@elDoober Dave does not sell investment funds. He sells a lot of financial advice products. I bought one book four years ago. I have no regrets.

[@filip9564]

@@elDoober Just dont buy it lol...

[@noco-pf3vj]

Most of these "financial" influencers recommended FTX, so yeah, this video aged well.

[@blessed7fold]

Out of all the financial videos I have watched this is the best and most truthful one I have ever seen. Thanks for exposing the truth behind all this.

[@curryrice7510]

I watch Graham for his frugal mentality and how he talks about other people’s spendings as reaction videos. I won’t watch him for stock market information or predictions.

[@anatolyFct]

Considering his advice is just "keep buying in consistently" yeah it's not necessary to watch his stock videos, since you'll always get the same advice.

[@josephclements2145]

Yeah I don't think Graham predicts stocks

[@1cancadrilo1]

True. It's always the same advice and "do your own research". And personally I think that's OK.

[@REgamesplayer]

He is hypocritical on that though. He casually buys a Tesla out of impulse which he even doesn't need, but is supposedly fine, because he did not paid extra for different colour. What a joke.

[@theAppleWizz]

@@REgamesplayer your allowed to buy what you want the point of bing frugal is to get what you want in life🙄

[@nicholasgreenwood8281]

This is probably one of my favorite videos on KZbin now. I really enjoyed the part about risk vs effort qhen it comes to high paying careers. This is something I think about a lot, is difficult for me to articulate to others not in my position (way on the right side of that spectrum), and in general not something my friends understand

[@timmyireland1]

I'm the type who needs to hear something multiple times before I take the advice. For example, I stumbled across the Dave Ramsey channel a few years ago. I was earning decent money but most of it was paying off credit cards, store loans, a car loan, and a personal loan. Anyway, I was interested in the baby steps that Dave Ramsey spruiks, and I was convinced of the idea. But it was another 5 months of watching his KZbin videos before I began applying the steps. Admittedly I was more interested in his reactions (as you said in the video), and the stories that the callers would share. But that's not his problem, it was mine. I think I was procrastinating because I wasn't ready to give up on the spending I was used to. When I finally started the steps, I was debt-free in about 4 months. Even so, in that time I had to keep watching his videos to keep me motivated. Because every temptation was there to get another loan or increase my credit card debt.

[@gj1234567899999]

Dave Ramsey has solid advice. Most Americans are wallowing in debt. More Americans should listen to Dave Ramsey.

[@lilrog0909]

Dave Ramseys methods are outdated. He is not putting you on a road to financial independence for the 2021! If this was pre 2008 dave ramsey method make prefect sense. Paying off your house very fast means you miss out on investment.

[@stevenyia2778]

@@lilrog0909 or it means you don't have a mortgage any more and free to invest that money instead 🙃🤦‍♂️🤷‍♂️

[@michaelcurtis106]

Of all the gurus you mention, I think Dave Ramsey has the most credibility. Now, does that mean I agree with him 100%? No. It's more like 90%. (Dave would probably refer to me as "Dave-ish"). I like how he motivates people to get and stay out of debt, build & maintain an emergency fund and invest for retirement. You really can't go wrong following his baby steps regardless of your income level. Now, will his advice make you rich? Probably not until retirement but it will certainly not make you poor.

[@MckensyLong]

Good point.

[@ynie1]

Towards the end of 2020, I was debating on buying a house since I was thinking that the housing market would collapse due to the pandemic. I watched a Graham Stephan video about the market dynamics and why that won't happen. Thankfully, I found one that needed a tiny bit of work, but overall was in great condition and bought it in a great neighborhood. In under 2 years, that house has skyrocketed by 34%. Even with the latest hikes in mortgage rates, houses around are still being bought up.

[@hannahgreyhound1371]

Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives.

[@timdangercabeen826]

I'm thinking of investing in the crypto market but taking my time to figure out how the whole thing works.

[@juliegustavo1221]

Investing in crypto is very volatile and risky which is why most successful investors trade with professional brokers

[@nicolasemple7340]

The real risk in the Crypto market is the risk of not investing, not the risk of short term price volatility.

[@martingilbert7642]

I have been investing in crypto but have had a bumpy ride. How can I reach your broker? I will appreciate any tip or pointers

[@pattaylor7513]

I once tried trading myself but made more losses than profits. I wouldn't suggest it to anyone

[@triad6425]

Actually Dave Ramsey says all the time he has said everything there is to say already but since this isn't common knowledge he is still here

[@WestZ]

To add to that: he also said he’s forever going to have a job so as long as people are being stupid with their money 😂

[@Alexis-wh2de]

Dave also is the only one who actually has a business that he could pass on to someone else. Everyone else has only managed to build a glorified online TV show where people "tune in" to watch the next episode.

[@AwesomeTea]

@@Alexis-wh2de YT is definitely a large chunk of their revenue but Graham and Kevin have pretty substantial real estate portfolios that will be able to be passed down.

[@amazinglats6020]

I feel as though legitimate personal finance channels give you great idea's as it's your responsibility to either employ them or not, and fit them to your specific needs.

[@MattnUska]

At the beginning of the video I kept thinking “any information that’s entertaining is mostly crap” then after you said basically the same thing I was thinking I realized How Money Works is mildly entertaining and mostly informative. Maybe you found the right mix for me.

[@aygwm]

Another thing everyone forgets is that rich is relative. 6 figures may mean “rich” to one person or “abject poverty” to another.

[@MrMajani]

Also a lot of these KZbin guys reach the point where their KZbin money is the overwhelming majority of their success, which is a bit unsettling.

[@rars0n]

You have to realize as well that some of these guys promote frugality, and have already happily lived off a small amount of money for some period of time. Hence, when they start making decent money on KZbin views, they're essentially set. It's not so much that they made their money via KZbin, but that they're now sustaining enough income from it to not need any more. Most people who are worth over a million dollars are not sitting on cash in their bank accounts, they have the majority of that money invested and are earning a passive income. KZbin on top of that can easily sustain a modest but comfortable lifestyle.

[@keatonmoore7413]

Not many blunt people on KZbin like you. Definitely appreciate the content. New subscriber!

[@vasilenicolae5131]

A very well made video. The problem with this is the video idea do not apply to people that will work 80 hours week. You should always keep in mind how hard and long you work when you want to pave a road.

[@LisetteZ3]

Wow these are really great points! However, I do think they helped us tremendously. We were in a dark financial spot 4 years ago and didn’t know much about personal finance. Low income, no savings, no investments, many payments. First Dave Ramsey and later people like Graham inspired us to make a plan and follow it, and we are thriving. All the small steps are starting to add up. No, our net worth isn’t 6 figures yet, but the financial peace and security we found is amazing. I don’t know if we could have done it without at least 15 minutes a day of financial KZbinrs keeping me focussed on this journey

[@MckensyLong]

Love it! Keep going girl! Proud of you.

[@LisetteZ3]

@@MckensyLong thank you!

[@thegrowingsun1561]

Just wanted to encourage you to keep making videos. I feel there’s a lot of genuine value here. Enough for me to make my first ever (i think) comment on youtube to let you know that. Great job!

[@HowMoneyWorks]

Thanks mate, I fully intend to because it is a lot of fun putting these together and talking with the people that watch them!

[@thepug991]

I will say gram does say a lot that investing in the S&P 500, 401K, and ROTH ira. That’s really all I do since I’m honestly fairly lazy and am looking at retirement and not short term gains.

[@talknight2]

For most people, that is the thing to do.

[@thepug991]

@@talknight2 100% slowly put money in over my whole life and hope that lets me retire

[@TylerRayHamblin]

@@thepug991don’t hope. Do some more research. Get out of the whole life policy and lookup money guy show FOO (financial order of operations).

[@Oceloteater]

The Plain Bagel is definitely my favourite. No nonsense... Straight up solid advice!

[@devinturner4236]

I think the honesty that you'd sell out given the chance was probably the best part. People need to realize that there is no "easy" get rich quick method, for every DFV that made millions on GME there are a thousand people that bough at the peak, and even more that decided they were finding the "next gamestop" and bought at the peak of another stock.

[@tylerr6140]

I have actually learned a lot from watching their videos and reading books. My finances are actually in the best state they have ever been in and I've learned a lot the past year about money. I don't think what they're doing is bad.

[@crystalmendoza1450]

I don't think he's saying they are bad, I think it's more of a lesson to hold a healthy level of skepticism and be cautious. Just because one thing works for one person doesn't mean it will work for another. At the end of the day, they are providing entertainment and selling you the idea of becoming rich, when in reality, it won't happen for most of us. But I agree, they still sometimes have good nuggets of information or help teach us things we didn't know.

[@KyleCBowman]

Very impressed with this, I have yet to find many channels that are willing to tell the reality of it, especially regarding that survivorship bias!

[@KohrakGKOH]

I watch a few personal finance channels and I have found some of the information very valuable, obviously I didn't just go and throw money to whatever they said to put money on but they did point me in the direction to do some research and I ended up finding really good places to invest my money that is making pretty decent returns. There is real value to some of them

[@GamerTime_2002]

Personally Iv gotten tired of graham Stephens personality and I prefer Minority Mindset. I really see these KZbinrs as "how not to be poor" KZbinrs instead of "get rich quick" KZbinrs. Personally I'm doing great living frugally, have investments in general market ETFs, and plan for my first house to be a duplex.

[@ignazs.5816]

Agree. I enjoy minority mindset much more. Graham is quite an annoying KZbinr.

[@franciscodemarco1878]

@@ignazs.5816 why you bullying graham for

[@SunDogGod]

Graham used to be great but since he started making a lot of money clickbaiting on KZbin (because it works for him) he has become annoying. It sucks but that’s the reality of KZbin

[@Tempusverum]

Agreed. Disliked, unsubbed, blocked and reported for spam 😡😡😡

[@jmoney9494]

Graham has alot of good advice in old videos but he is trying to do new stuff. He needs to hit some of his old valuable topics

[@2009v8]

The issue is most talk about how they started with nothing. They conveniently skip how they got from nothing to having an income large enough to take on the financing they do. The easiest way to get high returns, is to invest more. That means income, you can’t escape from it. You’re not going to stick $1000 into something and have $200k to start buying houses.

[@alexwilliams9933]

Just wanted to drop in here and say thanks for the videos! Looking forward to seeing you grow, the growth in the last few weeks has been unreal. Keep it up m8 ;)

[@escrevamusicas]

About being old and rich. Actually I should focus on it. As a young person I have a lot to learn and experience, this time is better to focus on relationships, contacts, family, food, enjoying what my body can hold and taking care of my healthy *while* make money compounds. Then when I'm 40 or older my body will be still health, or the healthier I'll be able to maintain it and and I'll have money. Money to help me make use of my experience, be it writing without working, or starting business as I want. I found the balance I was looking for. Thanks

[@drknsss17]

"Rock star" is an extreme high risk, hard work and limited reward..., you got that wrong.

[@monsterboomer8051]

Yes, should be TikTok star.

[@thekingofthisworld2154]

Yeah the days of Led Zepplin and Twisted Sister were a long time ago. Most music is written my computers these days, since the market has come to require more and more homogeneous products.

[@ralphfurley4217]

I thought the same thing. Look at Guns and Roses and Metallica's rise to fame. Talk about living in a jungle.

[@mdlm77]

“So long, and thanks for all the fish” totally jabbed at Graham Stephan 😂

[@DhirC35]

Finally, a video about my thoughts on these people. Wonderful🙏🏽