Investing STILL Won't Make You Rich (Probably)

Link to my original video: • Investing Won't Make Y...
Today, I revisit an older video of mine and explain again why investing isn't the get rich quick scheme it's often advertised as being.
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DISCLAIMER: This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).

[@ThePlainBagel]

Hey everyone! Many of you pointed out that between a max capital tax rate of 20% in the US (I wasn't aware of this, eh?) and taxing the returns every year, my tax estimate was a little high in my example, so I wanted to include the numbers if you EXCLUDE tax (AKA if you could achieve a real return of 7.84%). This is quite possible thanks to certain tax-free accounts, and while it gets a little unrealistic when you increase your contribution rate to $20,000 a year, this will at least provide the optimistic end of the example for comparison: - Years to hit $1M from $10K: 61.0 - Years to hit $1M from $10K + $3K a year: 40.7 - Years to hit $1M from $10K + $20K a year: 20.6 - Real return needed to go from $10K + $3K a year to $1M in 10 years: 54.5%

[@djayjp]

Yes registered accounts and Roth IRAs can significantly accelerate the timeline.

[@ajrobbins368]

Keep in mind that the average historical return of the S&P500 has been above average when compared to the performance of international markets. We may already have our baseline set too high because the continued outperformance of US equity assets is uncertain in the future.

[@DavidGarciajrtx]

I mean without using a Roth IRA you’re not going to pay taxes on something you have not sold. I can understand why you would think you pay taxes every year on gains because you are in investment management and typical investment management concentrates on Constantly buying and selling to rack up clients bill 😂😂. Definitely not my favorite way of investing

[@w1ngnuts]

Also, consider that in the US, if you're in the 12% tax bracket (i.e. ~ 40k single, ~80k married) you pay *no* federal cap gains taxes. As things stand today, most folks can get away paying no taxes on sale of stock from a taxable account in retirement. This has big implications for FIRE!

[@alaadekhili9229]

These numbers are more logical because even in a taxable account, the growth also gets compounded

[@saxassoon]

I think a good tag line to help new investors understand the true goal of investing is "you don't invest to get rich. You invest to stop being poor" it's not about reaching as high up on the money ladder as possible, but doing what you (reasonably) can to raise the wealth floor so your worries become increasingly trivial instead of do or die survival decisions. If you focus on building your base and maintaining your goals, you'll end up being richer than you expected

[@ajrobbins368]

Realistic expectations are tragically underrated these days. Don't anchor hope/happiness to circumstance. Instead make a long-term plan and commit to it for the duration. Learn along the way of course, but only improve the plan, don't end it. Success will be measured in your quality of life, not realized returns.

[@richardpearce4988]

Perfect, exactly this. It's so you don't have to make bad, forced decisions because of a lack of money, rather than anything like 'I can walk into any shop and buy what I want'.

[@jamesmeow3039]

Invest so you can be secure. Security is 10x better than being "rich" but extremely vulnerable to market fluxes

[@richardpearce4988]

@@jamesmeow3039 Yes.

[@avapilsen]

This is a great comment. I'm 23 and decided to not think, "I need to be rich," but rather, "I need to NOT be poor." This has allowed me to reach attainable goals such as put money in a ROTH IRA! I am now planning on investing short-term for a down payment. I think this mindset is just much more realistic for most people.

[@jasonball5506]

Of course it will make you rich, 1.) Buy a stock 2.) Make video on KZbin about your stock 3.) Make more money from ads on KZbin then you would ever make on the stock allowing you to 4.) buy more stocks. Wash, rinse and repeat

[@nvass99]

Jeremy from financial education cough cough

[@samsonsoturian6013]

Yeah, the fake gurus figured out that trusting people will pay to get skills that might earn them money later.

[@herrabanani]

You guys are all wrong 1) buy a stock 2) make a yt video about it 3) sell it while your viewers are holding it

[@stupidmonkey151]

@@nvass99 He's one of the worst offenders.. New TTCF videos nearly daily. It's ridiculous

[@tech-wombat]

Or replace your point no. 1 with any monetizable topic of your heart... in my case tech videos.

[@MechPoblete]

When someone has a goldmine and he is selling picks and shovels. you gotta wonder why is he selling instead of mining the gold himself. These are the tell tale signs of a fake guru, offering quick profits that just fleeces the poor souls who buy into the snake oil. This is why I love this channel, he sets realistic expectations and educates people what to expect when handling their money. Its a shame that fiscal responsibility is not thought in schools.

[@saynotop2w]

The biggest fortune made during Californian gold rush era was from jean sales.

[@robertagren9360]

It sound cryptic the way you describe it. When it is actually simple. Stocks are debts. Instead of going to a bank and make a loan they get loans with no costs. These loans are able to repay loans without a cost and in return the company has no responsibility for what happens when the rollercoaster stop.

[@RoxTeeman]

​@@robertagren9360you sound even more cryptic

[@bernardomingarelli619]

Seriously, Richard, your videos are the best. Your even-handedness and open mind are exactly the kind of 'free' not-professional-advice professional advice anyone should expect from a place like KZbin. If they complain, tell them to hire a real consultant and see how much that costs them ;)

[@ThePlainBagel]

Thanks Bernardo! That means a lot :)

[@prapanthebachelorette6803]

This rings true

[@CaseyBurnsInvesting]

Wait... I have to do something of value to society to get rich?

[@jesuslopez0110]

No, just re spawn until u see that silver spoon.

[@scarpfish]

No, you have to do something *marketable* to society. Whether its actually 'of value' is mostly irrelevant.

[@Pinkie007]

To be fair investing is of value to society lol. But yes plain bagel is right here.

[@tobymarx-dunn2332]

@@scarpfish “of value” is only definable as its Dollar return. You can’t quantity value in any other terms with agreed meaning.

[@gojosatoru__]

no…it can’t be…

[@-raccoonbar-7701]

Stop crushing my precious dreams Richard! My Berkshire shares are bound to explode!

[@samsonsoturian6013]

Which way?

[@circusfreakRob]

VTI to the moon! Diamond hands!

[@ecpgieicg]

Hasn't it already? Compared to 2019, you made 50%. Nothing stellar obviously compared to active trading. But for a passive investment, it's not bad. My friends preferred BX and, well, that story tells itself -- enough to make me as an active trader give some thoughts about passive investing.

[@dodid0]

Nothing stellar to active trading? The best active traders work at investment funds, and they perfoem worse than the sloppiest passive ETF tracking the s&p500, over 5 or 10 years time.

[@ecpgieicg]

@@dodid0 You are confusing hedge funds with mutual funds. The big funds make ~30% a year. For small traders/funds who can employ much more niche strategies without affecting market, I, as one example, make over 40% a year.

[@behrensf84]

It should be called, “Investing will make you rich, eventually, after a very long time.”

[@leemacdonald6533]

Only if you don't let your first couple of £10,000 loses put you off and see it as a learning experience.

[@robertagren9360]

When you're 120 years old, now it's time. All the major billionaires are offsprings of millionaires.

[@avapilsen]

@@robertagren9360 You're out of touch. If you put in monthly from a young age, you can make very great retirement money from the stock market. This is literally backed by science.

[@realnapster1522]

@@avapilsen However irony is that you will be old and you will have much worse health and you won’t be able to enjoy your big bucks. You will be too old to drive fast cars or you won’t value them the same way you did when you were 18. That’s the irony of life.

[@issecret1]

@@realnapster1522 it's not ironic if your goal was generational wealth to begin with

[@MrGmac2011]

Honesty is a rare commodity these days. Thanks for educating us.

[@ahmaanhunt]

I love The Plain Bagel BECAUSE you're a straight shooter. No fluff and nothing to sell, just bottom line statistics! Thank you!

[@craigman7262]

He doesn't have a yacht or private jet he doesn't know what he's talking about- IG comments

[@DielsonSales]

@@craigman7262 well, one can only go so far to warn the fools

[@Diggler569]

​@@craigman7262Don't forget the custom Lambo!

[@Horacel34]

I remember my first finance professor in college on the last day of classes said investing is cool. But the way to make a lot of wealth quick is outside the market ie a business, like what he did. Those words stuck with me still till this day.

[@wrednax8594]

Interesting

[@kingdavidlives]

FACTS! Business first. Then, invest in commercial real estate (including multi-family). Stocks last.

[@Relaxinghypnoasmr]

Great insight

[@briansperry4845]

@@kingdavidlives it depends on the rate of return you can get. Sometimes it’s higher in real estate or private businesses but aren’t always easily accessible. Stocks however are easily accessible and tend to outperform every other investment, besides business like you mentioned earlier, how could stocks outperform if they themselves are ownership in a business.

[@dexterne]

Get rich slow is the way. Absolutely start investing young and do it diligently, learn a trade, then start a business. Growth will slowly accelerate and the sooner that snowball starts rolling the better.

[@kylemielke1021]

I experimented with KZbin influencers and "stock guru's" advice the past year with small amounts of money to see how it would actually perform. To start, the investments actually did really well. I was up like 50% in 3 months. It was insane. And then asset rotation happened in February 2021 and where am I at today? Well let's just say my "fun investment money" would be bigger if I had never heard of these guys. I also found it funny how every pick they made and "invested heavily" in was saying, "this is a long term stock we need to wait till at least 2025 to judge" but then have 4 new stocks the following week to go all in on after their prior stock was stinking it up.

[@thestormwar]

What did you end up investing in?

[@kylemielke1021]

@@thestormwar The ones that performed the worst include BFLY, AYRO, CPSH, RMO, TYME. Those were all "guaranteed to the moon plays" and are 40% - 70% or lower from time of video.

[@davidburke4101]

Honestly, if a stock does go up by double digit percentages within a short amount of time it's time to sell. You've already condensed a year of real returns in a couple months. Trading is a terrible long term strategy but at the very least take the gains you're given lol

[@xc5103]

​@@kylemielke1021 Yeah those guys are advertising their dumping stocks so they can sell asap to bagholders

[@vraxo8953]

Lol did any of the picks work out?

[@ejcash7234]

Arguably one of the best financial advising consultants on KZbin. 10/10.

[@ObiJuanKenobi0_0]

You are my KZbin financial hero because you are genuinely trying to help people rather than monetize their weaknesses, which is rare.

[@Lemonchickan]

This reminds me of the saying. If there is a gold rush, the money is in selling the shovels, these influencers are selling courses on how to invest (shovel) in this finiancial gold rush of stocks, Crypto and investments

[@BigHotSauceBoss69]

okay, but if the shovel gets you enough gold to make you wealthy, was it worth buying the shovel? yeah, it was. the digital gold rush is different than the actual gold rush in that what is gold isn't so obvious, except in the cases where it's VERY OBVIOUSLY gold.

[@Lemonchickan]

@@BigHotSauceBoss69 What i ment with my statement is that these influencers are transferring the risk to whoever buys the shovel. Sure the guy buying the shovel might dig up gold eventually but i made the initial profit with minimal risks involved. So basically Risk vs Reward, id rather sell shovels and make a killing than trying to dig up gold and get lucky.

[@ad_astra468]

That saying is has made me more returns than any other market knowledge. I bought AMD (not AMC, I'm not a degenerate) because everyone and their mom was buying cryptos, only regret is that I sold a bit too early...

[@Jasper787217]

This is exactly the kind of literacy the public needs, but doesn't get enough of, from desperation, greed, ignorance and/or shyster's. I feel like honesty is profitable but people don't want to put in the work since deception is easier. I hope more people out there like you that have clout and influence start leading the public to wisdom.. maybe there's away I could be apart of that.

[@dericmederos1514]

The message was very much needed because binge watching so many videos on stocks made many of us believe investing ten grand would turn us into millionaires within 5 years lol

[@trailerkeller6760]

Not 5 years, but 50 years or 30.

[@SmithCommaBenjamin]

@@trailerkeller6760 Or, $0... the market goes both ways.

[@js5189]

Of course it can but you're choosing to listen and believe guys on KZbin who aren't millionaires which baffles me.

[@burkles4456]

@@SmithCommaBenjaminnot historically.

[@thomasp__]

I don't even know what he said in the video, but even the thought of Meet Kevin trying to debunk anything from this channel made me laugh

[@Travie68]

Meet Kevin is extremely knowledgeable but he probably missunderstood or got butthurt from that video

[@thomasp__]

@@Travie68 I don’t care how knowledgeable he is. He is using his “knowledge” to sell stocks to his followers and provide bad financial advice, plus he makes all his money by hyping up stocks and worthless news

[@liteshow101]

@@thomasp__ sounds like a scam

[@stupidmonkey151]

@@Travie68 He isn't totally ignorant.. But he garners more respect than is deserved considering his background.

[@peterparker2068]

@@Travie68 He might be semi- knowledgeable but he's not an expert in the field either. He has his hands in so many pots, how good can be in the stock advice he gives. He mostly trades. He might make some money from the stock market but his bread and butter is in selling course. I mean he throws his money in so many things he bound to have some good ones and a bad ones. I would be curious to know how people are actually doing in their stock portfolio using only his advise. My only guess is red or break even. Not to mention if you are trading as much as he does then you have a lot of taxes to paid at the end of the year, so if you are in a little of bit of profit then that profit might just be used for taxes. In a worst case situation, you might even own more in taxes than your profits.

[@wforbes87]

Someone correct me if I'm wrong but Meet Kevin saved like crazy at first. Then with the help of his wife/family, and working as a real estate agent in one of the most expensive areas of California, started leveraging his way into mortgaged properties where he could rent out or flip houses to scale up. That first year or two of saving must be such a forgettable blip in his memory that he can't consider how important it was.... but that's where like 90% of people will be stuck for most of their lives.

[@chowsquid]

Also helps in a low interest rate environment. I wonder how flippers do now with high interest rates, dropping prices and low housing stock and no buyers.

[@puregsr]

He's a clown

[@flexinclouds]

He doesn't want to mention that because from what I've heard, he just pushes the idea of his terrible stock-picks making you rich. That's why he's trying to discredit Richard, he doesn't want people to stop listening to his sh*tty stock advice & start saving instead😅

[@saurabhdeo1196]

Love love love this message brother, great reminder to be prudent and stick to long-term consistent habits for success. Thank you!

[@NDUWUISI]

I love this channel. I'm as frustrated as you are with this stuff and I appreciate an actual financial professional describing this stuff

[@alicereddings9209]

This video legitimately made me rethink a risky investment I was considering, and now that same money is in stocks that I've actually taken the time to research and look good in terms of long term growth. Thanks for helping people not get swept up by the hype and actually think about our finances realistically!

[@Drift0x]

All in in SHIBA INU token

[@SergiuPoenaru]

Congrats!

[@Cumtopia18]

You did all that in under an hour from when the video was uploaded to commenting? Or are you talking about the first video?

[@guineapigtalks]

Same. I got a little swept away by crypto 😅

[@heero854]

Should have gone for it, especially if you're already in the market that is more safe. You don't have to be COMPLETELY conservative in how you invest, but don't put all your money in GME outta the money options that expire tomorrow. Do it with like.... 2% of a portfolio or w/e you want to risk. If you're secure in other facets a little risk doesn't hurt. Best of luck!

[@ianianjg8464]

You have one of the best investment channels on KZbin. No hype, no bs and very sensible.

[@Patriciacraig599]

Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025

[@PhilipMurray251]

Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire

[@sherryie2]

True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.

[@Robertgriffinne]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you

[@sherryie2]

'Nicole Desiree Simon' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@Robertgriffinne]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@LittleMan2225]

12:00 my favorite way to “disarm” get rich quick schemes is to try and run a calculation on how much time does the person advertising the scheme would need to become the richest person in the world based on the returns they offered. Even if the returns are 100% per year (which is “low” for these scams), and they start investing with 1k, it would take only 30 years for that person to become the richest person in the world.

[@pouya5625]

28 years actually

[@airyordan6291]

Even if you traded your way to 100% a year the volume of whatever it is probably won’t let you multiply that amount of money as there has to be a buyer on the other end and you won’t get your orders filled

[@LordJon0SRS]

The 4 most dangerous words to ever say… “It’s different this time.”

[@MrEhf111]

Spot on ... one of the current problems is everyone wants the silver bullet. I retired early... just before I turned 60. I did it by first, getting a good education (BSME), second, plowing every dime legally possible into my 401k and other retirement instruments and third starting it all at 24 years of age. Are there other ways to achieve these goals... sure. But many are the difference between disciplined diligence and gambling...good luck with that

[@burrybondz225]

That is not an early retirement at all.

[@MrEhf111]

@@burrybondz225 yeah, I was actually on track for retirement at 55 but along came 2008 and, well you know the rest of the story

[@QuickPLFMA]

We need more people like you, this guy is real and deserves respect

[@Marksenpai26]

Really love your takes on every topic you make, very objective and informative.

[@spencergardner9207]

Thanks, Richard! I appreciate the more down to earth approach to investing advice than the rest of youtube.

[@H4CKM11]

Im just commenting to boost your video with the algorithm. People need to see this with all these scams going around. Good Video Bagel, Always look forward to your videos.

[@batemanlife]

Your videos are great and the calm way you go everything is the antithesis to over the top KZbin creators

[@bhaveshjain4826]

when it comes to investing or becoming rich I follow The Plain Bagel and Stephen graham love these guys!! keep up the good work guys

[@IvanMTG1]

Damn, my boy PB got me in the feelz at the end with that sincere "be safe out there".

[@MrMaxTheAxe]

Generic response

[@__Diaz__]

I appreciate this channel sooo much! Really appreciate the honesty, the world needs it

[@HowMoneyWorks]

I watched this video while drinking out of my Plain Bagel mug... which everyone watching should go and purchase.

[@aitorlopete3913]

Is there a possibility for shipping to Spain?? Long plain bagel !!

[@masafelipe7033]

Damn I was just watching Bagel video and wanted to click on yours on Iphone manufacture in USA, but I had to stroll down the comments.

[@GaelAlday]

Love your vids!

[@rolfthewolf42]

Idk sounds like a risky investment.

[@kevin.nelissen]

This should be mandatory to watch for everyone who starts investing. Great video and very well explained! Thank you!

[@_alexlazar_]

Thank you. I've been saying all this for years. I think what you say in this video is obvious to anyone that's willing to run the numbers. But it's just not said often enough and most people don't take the time to run the numbers on their own. Thank you for educating the world my friend! Cheers.

[@surangasarukkali655]

I think this video is what made Richard famous for his integrity and candidness. Just pure and honest. Thank you.

[@isaiahcastillo5771]

I am new to this channel. I see honesty in your presentation and greatly appreciate that. Than you.

[@jroig824]

I have so much respect for you and the fact that you're so honest. It's so much needed these days

[@jayjaytr1849]

well if i have 25k and put it in any coin and it does a 1x thats 100% return right there and that could happen in 1 to 6 months so what does he mean

[@aaronbirook4367]

Jay are you mentally okay? Gambling isn’t investing seek help

[@basti1993x]

Investing will make you rich, but the compounding effect needs time, it’s just math and discipline of investing frequently.

[@robertagren9360]

It's only based on if you already are rich and would still been rich without doing any trading. To even consider exploiting the market enough to actually see a key difference is steep. Those who say you can get rich only by stocks is selling the shovel to the gold rush. The stocks preserve your money for the future but it is not a magic trick unless you can keep on investing and if you are lucky to ride the wave.

[@basti1993x]

@@robertagren9360 1.000$ invested each month for 30 years in an ETF that generates 8% annually will end in over 1.3 million dollars. So Im not sure, what you are trying to tell.

[@scarpfish]

@@robertagren9360 A compounding returns calculator would say otherwise.

[@jamesmeow3039]

@@basti1993x is this with dividends reinvested and growth?

[@basti1993x]

@@jamesmeow3039 That´s the total return with the numbers above used.

[@dicksonhoo2321]

Thanks for being the light beacon to help illuminate the way to investing. Keep up the good work. Cheers

[@DonMiguelPepaWama6805]

Thank you for being real with your viewers.

[@RamTalks]

Tai López left the chat again x)

[@pointlesspublishing5351]

But he has now more KNOWLEDGE :-D

[@stevenvicijan4338]

I have to comment mentioned while in school to quit traditional educational institutions. Yes, Tai . . . Reminds me, well, I have to save via private stream(s).

[@gatekeeperboxing5898]

It depends on your definition of rich, which for alot of people will be different. When I was under 10, it was the parents of a kid who could afford to pay £80 for a pair of nike trainers who I viewed as rich, while I was ridiculed because I wore an unknown brand that cost around £10.

[@ThePrimeMinisterOfTheBlock]

Subscribed. Congratulations! I look forward to learning more about investing from you

[@Sidious6460]

It really is frustrating - when you get into finance - the online algorithms associate you with these scams. Zero interest in the get rich quick schemes.

[@bradymoore7675]

Amen

[@robertpearce-bailey5576]

Great video, really level headed and clear and I'm sure will help a lot of people to make more considered and responsible choices with their money. Keep up the good work mate

[@robbert7599]

The Plain Bagel always keeping it real and why i'll always be a loyal folllower. MeetKevin tries to get you to buy his "private courses" and shills you everything under the sun through his sponsors. His political ambitions (which were laughable from the outset) fell flat and he's not some investing guru. He's a guy who saved up enough to start investing in RE and just kept flipping properties and is now trying to leverage his large YT following to enrich himself even more by having you believe he's some savant...spoiler alert: he's not. He's a glorified used car salesman. Follow guys like Paul Merriman, The Plain Bagel and Ben Felix instead. You're welcome.

[@jayjaytr1849]

well if i have 25k and put it in any coin and it does a 1x thats 100% return right there and that could happen in 1 to 6 months so what does he mean

[@Sandy-qv7ji]

Thank you for all the Videos you do, they are Great!.. You have one of the best channels on You Tube.

[@eddiez2011]

Great vid with useful and truthful info. Telling truth about "influencers" selling KZbinrs their products.

[@DrThier32]

Excellent video man This video came at the right time where everybody is promoting shit coins, NFTs or whatever to a vulnerable public. It's really sad. It's good to see a responsable and honest KZbinr. Thanks

[@michaelboyars7534]

I wish this video would get millions of view instead of the other "financial" youtubers. Great video!

[@FxMedSupport]

This video is amazing. So well thought out and true. Thx for your help

[@Beatyofeet32]

Fantastic video. Your content is always excellent.

[@conan3366]

yeah MeetKevin isn't exactly a solid person to be critiquing your common sense

[@VilleHyytiainenInvesting]

MeetKevin justified that TSLA is undervalued based on his discount model where he used forward PE 100 based on 2030 earnings. Not very sound person, just profiting from stock hype either knowingly or by being ignorant.

[@h0lyavenger]

Didn't the guy got his start by having his rich dad loan him a million dollars to invest in real estates right before the decade long boom? Most people can be successful if they get a free million dollars and a rich family as backup.

[@K3end0]

@@h0lyavenger *Donald Trumpage intensifies

[@h0lyavenger]

@@K3end0 no politics for me. I just don't like seeing KZbinrs selling dreams that can hurt their viewers while profiting themselves. How many of them are shilling a stock or crypto when they themselves are trying to pump and dump it, or got paid by someone say a hedge fund to do it for them?

[@simsimmaa8343]

@@h0lyavenger No. His dad isn't rich.

[@murraykeir1745]

Great video. It's interesting, I think your comment about the number of high net worth investors who inherited is directly related to the proliferation of get rich quick schemes. I've seen a number of people on forums say the only way they think they'll ever buy a house is if they can make enough from crypto to do it. Meanwhile, a whole class of people are born with more money than they can reasonably spend. People see that and want to know why it isn't them, and the truth is it's just an accident of birth, it's just luck. They think crypto or whatever scam is their way to get into that lifestyle.

[@louisaparker]

All the people who got rich by inheritance, have ancestors (or husbands) who somehow made that money. How did they make the money? Probably by having a successful business or by having a long line of prudent ancestors.

[@jazzy8766]

@@louisaparker it was probably slavery tbh

[@grecopologist]

That was a refreshing perspective to see on KZbin. Thank you.

[@BrunissimoArt]

Great video as always. Timely message.

[@johnsmithparaggua849]

I'm a programmer and I always find it funny when non programmers tell me that crypto is the future and they don't even understand the tech.

[@impactodelsurenterprise2440]

What's the tech behind it?

[@zazapachinko9709]

I agree the tech behind it is really shit with little application

[@zazapachinko9709]

@Roberto Vidal Garcia your ignorance can be forgiven since it’s obvious you have been fed lies

[@user-fs6ll2wu6o]

@Roberto Vidal Garcia I love how people say "crypto is not only Bitcoin blablba" when 99% of crypto community only uses Bitcoin. Blockchain is an inefficient system and useless energy waste and the only reason you're promoting Bitcoin here is to get others on your pyramid scheme so you can pump up the price.

[@meanieweeny4765]

@@zazapachinko9709 elaborate a bit, why are cryptocurrencies a bad investment choice according to you?

[@aexiong1190]

This is the dose of truth that most people need! Keep up the good work.

[@user-xl1hh1hj7r]

Thank you very much! Video is great! I am from Moscow and really like your explanation and approach at all! Good luck in your endeavors!

[@walterdanielsNC]

You are the best investing channel on youtube. You approach it realistically without any click bait. Could you please do a video on how to investing changes when you are investing for the medium-short term say ~3-5 years.

[@mani4052]

Ur videos r really awesome brother.....

[@jacoposcarabello]

Thank you for saying that! It's why I say all the time to my listeners (I have a podcast in italian and I basically do what you do)! I got a lot of question such as "ok you told us how economics&securities works, but how to get rich?" and my answer was exactly what you said! Work hard, save money, focus on a career path and give others solutions to their problems (which is basically what any job or company is about, except for scams which are about themselves)! There are no short cuts! But it's really hard to be understood when audiance is constantly bombed with silly courses ads to get rich fast!

[@victoriahalstensen3234]

Great podcast! Got yourself a new sub :-)

[@jacoposcarabello]

@@victoriahalstensen3234 Really? Wow thanks! Do you understand italian?

[@victoriahalstensen3234]

@@jacoposcarabello I lived 5 years in Florence attending a PhD in econ at the EUI. I've forgotten an embarrassing amount of Italian, but it helps a lot when I know the subject matter that is being discussed ;-)

[@jacoposcarabello]

@@victoriahalstensen3234 that’s amazing! 🤩 Well I hope you enjoy the content and also get the chance to l’ero your Italian alive! 😊

[@AndreaMontes_]

I'm rewatching this on Christmas time. Love this party popper videos. Thank you Richard.

[@colepascua]

This is very helpful. Thank you for making this video!

[@ajrobbins368]

Thank you for being the voice of reason in a day & age where FOMO dominates financial decision-making.

[@bearnanascreditcardsinvest7861]

Richard is always keeping it real with us. Huge respect for you staying true to yourself and your audience. Still a funny video nonetheless!

[@dylanvonrambow3810]

Sound advice as always. Sober, analytical, balanced, logical. Very good! Thanks!

[@The.Hidden.Investor]

Great video !!!! Thankyou for bringing back the fundamentals to Investing

[@90422__]

“The only true wisdom is knowing that I know nothing” This is my mentality when it comes to all of life.. including investing. It keeps me open minded to all possibilities. EVEN THE ONES THAT CONTRADICT MY OWN. No one knows the future. traditional investing works sure, but its cool to put some eggs in the untraditional way as well.. yu never know. At the same time be prepared for things to go against your expectations in any of the ways you’re choosing to invest. And have strategies for when things do go your way, and definitely for when things don’t.

[@CookbookAdventures]

I love your videos. Been in the market over 25 years. I love how honest you are about investing. No flash, no bullshit. Just the truth. Lots of people don't want to hear it. If I ran a fund, I would hire you immediately. Lots of people need the cold splash of water back to reality.

[@Teralek]

Thanks for your honest videos. The internet is lacking on those

[@cherylbroadenax1006]

Best financial video. People line the hype. The slow steady consistently investing is the way to go. I really like your u tube. I will subscribe.

[@padenallenclancyfairbanks]

I really enjoy that you brought up the point that saving money is one of the largest attributes millions find important. I always feel like this is partially because being financially stable makes it so you do not NEED to make bad decisions or quick decisions. The older I get and the more that I see all of the investment avenues, the easier it is to understand that investing really is pretty simple. Especially the better you get at it.

[@QuangNguyen-pk4op]

A dose of reality for many dreamers! Thank you

[@tom4115]

If that's what helps you sleep at night.

[@josealtamirano8030]

Great video!!! And all your content!

[@sstritmatter2158]

Great video - glad i came across you, great content and honest. I've been investing since 1995 and it's true, it takes time to grow but once it does grow, the returns really start taking off. I've paid for vehicles, a rental property and used some of it in an emergency. Save up about 6 months worth of total month expenses then start looking at investing - read some beginner books on it if you're new. Dollar cost averaging is tried and true and what I've done for 28+ years. Good luck but be knowledgeable, patient and disciplined.

[@MiCnWww]

I’ve never met Kevin but I’ll always take the plain bagel whenever it’s served!

[@rockfire1669]

Holy shit I found an investing channel that is all about investing. And not treating the stock market like gambling(granted most of it kinda is)

[@hopelessdecoy]

Fantastic content, very grounded in a crazy exuberant market

[@westboy52]

Thank you for this level-headed video.

[@jellovendigar]

Thank you for helping everyone set realistic expectations. Knowing the base rates help a lot with planning your money and future (market gets 6-7% and the best gets 20-25% annualy long term) Maybe in another video you can touch on how these base rates aren't actually promised. You can stay in the market for 20 years and not get this avarege for example

[@Smokey298]

No no, thats what the statistics mean. If you did stay in the S&P for years you most definitelly would have got the 7% unless you sold it all during a dip.

[@samuel.andermatt]

Applying taxes directly on the return is the same as realizing the gains every year. It seems the return should be higher if you only realize the gains at the end.

[@QUINSYlarynx]

This is a reassuring and sobering video. Thanks for making this.

[@mediaproductionpro]

This needed to be said. Great video.

[@TechDeals]

For what it's worth... cutting your spending by 10% and putting that into savings every month isn't sexy, but it is what most people should be doing.

[@cw3le]

Well... That's certainly one way to do it and probably the easiest one. Trouble is that, depending on the current economic events, inflation can easily eat those savings. Plus, you still need to work your ass to earn more money. What most of investors (and those who would like to be looked upon as investors) are looking for is financial freedom, or being able to retire early and simply saving money won't do you good there.

[@aharonsidorov5145]

@@cw3le It will get you there. It just will probably take 20+ years

[@ropottaa6066]

Im saving 28% of my salary every month. Going for index funds..

[@cw3le]

​@@aharonsidorov5145 If you are not gonna factor in inflation, then you'd need to put away lots of money in savings, so that it doesn't get eaten away in 20 years. But then again, if you are able to put away that amount of money, then why would you let it sit there? Why not invest it in something that could get you some fixed income, like real estate or dividend stocks or something similar?

[@cw3le]

@@ropottaa6066 That's what I'm talking about. Go for it!

[@holobolo1661]

This guy is the human embodiment of the zoomer meme dude

[@gc1650]

The plain bagel indeed. Very sound information, and easy to grasp.

[@felipelopes3171]

Very nice video. This has been exactly my experience with investing since I started years ago. The reason I did not fall for these scams is that I know math, ran similar calculations and got to the same conclusion you did. Investing only works if you do it for a long time and constantly fuel it with active income. It did not make me rich, but added a significant boost to my salary. There was even a good month where I made more than twice my salary from the returns, but there were large losses too, specially when the pandemic hit. In any case, it's like you said, prudence matters a lot, I couldn't actually spend all that money, because I had to commit a large part of my salary to make it grow, and needed diamond hands, because selling would imply more taxes. However, I am extremely close to buying a house already, and I have to thank investing for making this happen several years earlier than I thought :)

[@rafasakowski3925]

And the fact, that makes investing even worst is that when you invest some money you feel, like the money is frozen. I feel like not many people realize, that it is very hard not to panic sell, or simply doubt in your investment, and simply not hold it long enough.

[@prapanthebachelorette6803]

The psychological aspect is important as well

[@bobagorof]

It's important to know one's own risk profile before investing - one's appetite, goals, timeframe, etc. If one freaks out whenever the market drops slightly, one is likely to sell on each drop and lose money each time. Having a longer-term outlook, and doing one's research on what one is investing in, can help one ride out periods of volatility until the investment recovers - or even 'top up' while a good stock is selling at a discounted price.

[@dyr_glpsn4209]

It isn't hard not to panic sell. Only complete morons and those who invested their bottom dollar do this.

[@neilshah7819]

Us party poopers have to appreciate each other, Mr. Bagel; I appreciate your videos, along with your frankness, honesty and integrity, which I can glean from the topics you cover, and your approach in covering them. Please continue posting these videos! Peace

[@daltonoutside1]

Thanks for the honest info !

[@RossCaulfieldThomas]

Thank you for this video! It’s great to see someone giving sound advice to combat all the “sensational” and over-hyped investing advice out there.

[@ariklapid7]

Thank you Richard. You have no idea how the knowledge you're spreading has made me and my family change our financial habits during the last two years. Just know that YOU made a REAL impact on real people! :)

[@theondono]

Three years beating the market and this guy always crushes my dreams. I know what I’m doing… probably

[@cdh79]

we're in the longest bull-run in history.. it's not that difficult to beat the market right now (just take a leveraged ETF on the S&P like SPXL and voila, done..). It'll get interesting once we hit a crash and a long term bear market sets in again like the Nikkei in the early 90's. That's when it'll be interesting to see who can make money in that environment and who can't..

[@Trentacus]

You are nice, humble, honest, straight forward, courteous... You are the Canadian Tom Hanks.

[@tiberiusalexander6339]

Great informative content as always. I found it interesting that he specifically mentioned that in his business, many of his clients obtained their wealth through inheritance. Judging by other data I've seen, I'd bet dollars to doughnuts that the amount of wealth being passed on, and therefore the share of high net worth individuals who inherited their wealth, has been rising for quite a while now. Just another reminder of how crucial a role economic rents play, and an illustration of the increasing concentration of wealth at the very top.

[@Origami84]

This is because everyone wants to be the person inheriting the money, and not the one saving hard to leave the estate to his children.

[@tiberiusalexander6339]

@@Origami84 sure, the people who try to accumulate wealth and pass it on will accumulate and pass on more wealth than the people that don't. That's just a truism, isn't it? The more important thing to to not IMO is how the rules of the game make it easier to accumulate and pass on wealth for the wealthiest. We didn't always have as extreme wealth inequality in the US and worldwide as we do today, nor did inherited wealth always play as much of a role as it does in our current economy. Public policy can do much to address these issues.

[@Origami84]

@@tiberiusalexander6339 .....what? I am pretty sure that the old feudal system would like to disagree. But, even if it was true, at least today it is a consequence of the economy of scale. One brilliant inventor or entrepeneur can satisfy the needs of millions, even billions of people. As in, he alne is vastly more usefull for the collective good than the hundreds of millions on the bottom. Of course, this turn into him becoming richer than those hundreds of millions, and why not? He did more. Anyway, my point was more on how everyone likes to complain about inherited wealth, instead of trying to create and estate in the first place. A combination of laziness and envy, i assume. Instead of complaining try to save, invest and leave some capital to your kids.

[@tiberiusalexander6339]

@@Origami84 The fact that someone originally came up with some valuable innovation has very little to do with the power of inherited wealth. The son or daughter of that person didn't create real wealth; they are simply born to it, and consume it. And to the extent that they do create new wealth, often they can only do that because they have some Capital to begin with. There are plenty of people out there with good ideas that can't get them off the ground because they don't have the capital. Meanwhile a person born into Capital can lend that out to others and profit off of nothing more than the fact that they have a property claim from birth that the state protects and enforces. You can make judgements about people being "lazy" or "envious" all you want. That doesn't change the fact that the real resources are increasingly inequitably distributed. And that unequal distribution leads to social unrest. Do you think people are just going to take it lying down forever that the top 10% owns 90% of the wealth? Do you think it's really sustainable to have a society where just a handful of wealthy people have as much wealth as the bottom 50%? Do you think the billionaire class can continue to arrogate more and more of the real resources to themselves without facing any social repercussions?

[@Origami84]

@@tiberiusalexander6339 Yes, i do think all that. It is working well enough, so far. So well that the poorer class, instead of fighting for money and better jobs like not even 50-60 years ago, are being duped into obvious cons and distraction like climate change and covid.