Top 5 Wealth Killers You Need to Avoid At All Costs

There are so many normalized things today that are killers of wealth. If you want to be wealthy eventually, make sure you do your best to avoid these five wealth killers.
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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
⏱️ Timestamps:
0:00 - Start Here
0:13 - Divorce
4:40 - A Car
6:44 - Staying on the Sidelines
9:09 - Not Accounting for Inflation
11:27 - High Interest Rate Debt

[@humphrey]

Hopefully you enjoyed this video. And the video game theme ;)

[@BryceThomassub]

I didn't enjoy the sexist thumbnail. Do better dude.

[@stanleyw5410]

@brycethomassub Hurts because it’s true 😂

[@luv2teachk]

Being married to the wrong person can also be a wealth killer. My finances are soooo much better post divorce.

[@bobbobertson7568]

I bet they are

[@bubblechaser5369]

I'm definitely more financially stable ... almost a year later & she's filing for bankruptcy now

[@jkow814]

Yea, because you got money in the divorce, and if you have kids, it's another income stream. My mom got 500k from her divorce, and no child support was needed, I am over 25

[@crooked52h]

@@jkow814 they conveniently leave out the alimony ,child support , and loss of the man’s pension part

[@gloval5187]

Absolutely, staying married to the wrong person is a wealth killer.

[@JD-nu1fw]

My 2006 Corolla is still running just fine. I ain’t too proud.

[@PhDDimeKB]

Teach me how

[@isaiahayers1550]

I had a 2006 Corolla that I bought when I was 18 back in 2007 and I kept it until somebody rear-ended me and totaled it a few years ago. I was very sad about it. Now I have a 2014 ½ Camry that I also love.

[@levioneill9677]

234k on my 2013 accord. It's been building my wealth for awhile.

[@amorsara4]

​@@levioneill9677so glad to hear this. Driving my grandpa's 05 accord that only has 83000 kms

[@ImTheBoss914]

@@levioneill9677holy shit dude nice, I got my 2001 toyota camey at 34k miles, currently at 87k hoping to make it to 250k 🫱🏻‍🫲🏼

[@katiecano9847]

Marrying the right person can be a wealth multiplier. Everything we have we’ve gotten together ❤

[@markoDhex]

The math is not mathing. Not worth it for most Men now a days tbh. 😊

[@eduardotrochez1215]

by we, u met him😂

[@Not_Lactoselntolerant]

And divorcing the right person can also be a wealth multiplier to the other party, 😅

[@invertedv12powerhouse77]

The math is very simple when both people have careers and a common path. Only if your partner is heavily financially irresponsible is it that much of a detriment ​@@markoDhex

[@TheXGrandXFinale]

Men build women move in

[@mannya_realtor]

Debt is absolutely the number one killer. You're spending money you don't have on something and then paying interest on that money, which is already a problem because you don't have it. Get out of debt.

[@Jason-md3xo]

Very simple, and 100% true. Anything else is irrelevant until this step is taken care of (I don't include mortgage here, though - a mortgage is a bill that lasts for 25 years for most people).

[@KathleenMcNe]

It's amazing how quickly one can build wealth when one has no debt.

[@changveronicas]

this isn’t the scope of the channel, but the fact that divorce is such a major wealth killer shows us that everybody who wants to get married needs to educate themselves on how to have healthy communication, to know their feelings, and to have good judgment in relationships, in addition to getting a prenup. much less straightforward than learning about personal finance, but so important for an overally healthier happier life.

[@basilman121]

Remember that prenups don't hold up as well when children come into the mix.

[@diabolox1272]

On the other hand... Divorce is the #1 wealth creator for lawyers

[@scot909]

A spouse can make you a millionaire , if your already a multi millionaire

[@kaputasri]

​@@scot909😂

[@greggpurviance7252]

Although those who are married & stable are far richer

[@jpollar]

And women

[@crooked52h]

@@greggpurviance7252u til there served papers and being married doesn’t mean your happy you can be in a financial prison because of it

[@ifly64s]

I'm glad you listed divorce as a top wealth killer. Most financial advice says to start investing young and that's good advice but that is blown away with a couple of divorces.

[@steveburke7675]

50% with ONE divorce.

[@sammyp1556]

I can attest divorce is costly ($65,000 personally). I was divorced due to domestic violence and infidelity. My advice: Know the person you are marrying. Ask many questions!

[@JulieStevenson752]

And get a prenup!

[@358studios]

@@JulieStevenson752 and for goodness sakes, there's no rush.

[@Dansk55]

​@@JulieStevenson752not enough these days. Put everything in an llc

[@elebeu]

...and you still don't know how your partner may change after a few years of marriage.

[@edgardovillacorte7012]

The odds of marrying the right spouse for life is like winning in the lottery

[@appleztooranges]

I hate debt. Paid house off in 6 years

[@davisamills597]

I have to stress the marriage one. Being married to someone with similar goals and who supports you like an amazing partner - GOLD ❤ I think thats definitely the most important one. If you have a great spouse, the rest will follow

[@Benjaminarmstrong684]

I'd retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $120K per year but nothing to show for it yet.

[@SpookyEng1]

I am three years out. Start with maxing employer match on 401k, max your limited IRA space each year. Be debt free when you retire. Have at least 3 months expense in short term (money market, t-bills etc) . The key is aggressively cutting expenses to hit a min 15% savings target. Being only 8 years out I would shoot for 25% (I am currently at 35%). Low cost index funds (vanguard, fidelity).

[@emilydonna1]

You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/ planner

[@Kevinbrian1]

Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28 fact forward timo I'm 57 now not laid off

[@WiolciaMrozowska531]

This is huge! would love to grow my reserve regardless of the economy situation, my 407k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?

[@emilydonna1]

Walter James Henry is the licensed fiduciary I use.

[@LivingRetirement]

I to a 100% agree with all of them. And my mantra for using my credit cards is: If I cannot afford to pay it off in the same month, I cannot buy it! Somewhere I read or saw a video where it was explained that people like me who pay off their credit cards monthly in full are called "deadbeats" by the banks. Proud to be one!!!!

[@stormforge68]

Or the Minority Mindset mantra: if you can’t afford to buy 5 of something at one time, you can’t afford to buy one.

[@robinmiller871]

Same. I pay everything off and my credit is TERRIBLE!

[@deanrotering879]

Weird I do this and my credit is great.

[@maj429]

​@@robinmiller871 I always pay off my credit cards before they accrue interest and my credit score is over 830. Just keep at it. Do not close any old cards. That lowers your average age of credit which has a negative impact on your score.

[@sharpemang]

Biggest I learned from this is getting married is a wealth killer

[@KathleenMcNe]

That's why I am -- and always have been -- intentionally and blissfully single. Debt-free with a net worth approaching $14 million, no disagreements about money, no financially irresponsible spouse, no costly divorce.

[@AskSebby]

Best wives: 1) Wife 1 2) Wife 4 3) Wife 2/3

[@humphrey]

😂

[@rylanrussell9595]

Just finished wife #2 and yeah so far this seems pretty legit! Lol

[@haveaday1812]

What the hell is wrong with you guys? No better way than to show complete and utter diadain for the institution of marriage than to keep breaking the pact over and over. You need to see a psychologist and figure out what’s broken inside you.

[@rylanrussell9595]

@haveaday1812 You feel real secure talking like that over a keyboard, with the security that comes with distance. You try saying that to my face. You'll be dropped long before finishing that rant.

[@rylanrussell9595]

@haveaday1812 These days nearly 80% of divorces are initiated by the wife, and in most states, there is little to nothing the husband can do to stop that. So when you shame men for being divorced, most often you are shaming the person who wanted most to make the marriage work. Old Boomers like yourself raised a generation of daughters who don't commit to their marriages anymore. Guess looking in the mirror isn't so convenient.

[@pgplaysvidya]

I'm rather famous in my social circle for being a lifelong bachelor. i play it off as whatever the person ribbing me says is the reason (high standards, scared of commitment) I even let them think that somebody has thoroughly wronged me and i am a jaded and angry person, even though literally no evidence points to this fact. the honest fact is I was and am very aware than a single divorce would crush my goal to be able to retire. nevermind wealth per se - wealth is just a tool or means to an end. I want to retire and I concluded at an earlier age that divorce would either make it significantly more difficult or outright impossible it sounds jaded to type out and if you want to think that, like the first paragraph says, I would let you think that. but it doesn't change the underlying reality.

[@M_SC]

Just don’t lie to your dates by pretending to be interested in a real relationship

[@llai8501]

​@M_SC bro absolutely lie your way into as many vaginas as possible. It's all fair in love and war.

[@dre32pitt]

Called a prenup my guy.. and if the woman won't sign, she's doing you a favor and showing her hand early.

[@debbielockhart7762]

​@@M_SCLOL, how stupid. Not everyone cares about marriage. And there are plenty of "real" relationships outside of those shackles. I also know plenty of married people who can't stand each other. Wedded bliss indeed ...

[@debbielockhart7762]

​@@dre32pittWhy assume it is the "woman" who won't sign? I am a woman, and I am the breadwinner in my household.

[@Courtney-Alice-Gargani]

Great things to avoid. When my parent's got divorced, they had a mature talk and reached an agreement. They didn't go after each other for child support and alimony. What each other owned went with them. I went with my mom while my three sisters went with my dad.

[@xmusic2049]

I'm on my second marriage and when I got divorced from my first wife we just had a simple divorce and it was just a couple hundred dollars and we just kept our own stuff.

[@florious80]

@@xmusic2049 It's nice to have a non-vicious separation, but i would tend to think that's more of a rarity then the norm. It's just hard to predict what will happen with any divorce.

[@debbielockhart7762]

​@@florious80Not true. I know plenty of people who divorce and keep things amicable and civilized (myself included). I'm still friends with my ex.

[@AdelardBrown]

*The first step to achieving wealth is figuring out your goals and risk tolerance. Either on your own or with the help of a financial planner. And by following through with an intelligent plan, you will gain financial growth over the years and enjoy the benefits of growing your money.*

[@AdelardBrown]

*Browse Donald Nathan Scott for more insights.*

[@classicsciencefictionhorro1665]

Bold comment.

[@charlotteraciboski3741]

Great content! Only thing I'd change as a financial advisor, is every time he says gross income, change it to net income. Base your budget on your take home capital!

[@crunchydee4877]

Those who don’t have anything to lose get married. Those who acquired things or have something to lose understand value of losing what you have worked so hard for. Good luck!

[@valerieparker4625]

My mom and stepdad built a shed on their property and now he lives in it: and that was the cost of their “divorce”

[@matw1x]

Divorce is underrated. My parents wasted so much money on lawyers. Hundreds of thousands of dollars. The process lasted over 2 years.

[@joeylodes]

A close buddy of mine is going through a nasty divorce right now. He said the same thing … this will be $100-200K on lawyer fees alone. Insane.

[@krisjod465]

The more you use a lawyer in animosity, the higher the fees you will pay. Be grown up and accept your shortcomings and the legal fees will be much smaller.

[@racer7452]

I guess a lot of people don't realize you can do your own divorce for a few hundred dollars. No lawyers needed.

[@meleenabradley3017]

We bought a brand new car a year ago and it's almost paid for, but we keep them till they die. My other car is a Honda pilot, and it just turned 20 yrs old. We're saving up now for our next car 🚗

[@SeanTalkoff]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[@DavidCovington-st2id]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks

[@tmer831]

I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

[@SteveDutton-v]

Please will you be kind enough to share the details of the man that helped you?

[@tmer831]

My CFA ’’ Vivian Carol Gioia, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!

[@SteveDutton-v]

I find this informative, curiously explored Vivian on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated

[@358studios]

Humphrey great video as always. In my opinion, the two items a younger generation really must pay attention to is divorce and debt. Me, divorced twice in 4-years. Went from full to about 1/16th in that time... and both were fairly simple divorces as they go. You didn't say it, so let me. Divorce attorneys, the whole lot, work together to extend and milk their clients throughout. E.g., they will call each other (but they don't, their assistants do) and bill you for 3-10 calls per week (@$250 ea call). Requests for copies, $500 ea copy plus the bill for the phone call to make the request $750). They are not interested in a quick and fair settlement. If you are getting divorced, avoid attorneys at all costs. If you don't cut them off, they will drag your divorce out for years (multiple friends have gone through same, but worse) and happily charge you along the way. Debt, is math. Just do the math and control your spending. If you can't, don't use credit until you can. Awesome content! Cheers.

[@debbielockhart7762]

Why use an attorney at all? I did my divorce myself, and we kept things amicable.

[@spades9048]

Marriage is a commitment. I don’t see it as a wealth killer. Sure if I get divorced then my finances are taking a hit. But I married my high school sweetheart. She has always been smarter than me and even got a Ph.D. I ended up becoming an air traffic controller which is more than enough for us to live on a single income. We decided it was better for her to stay home and raise our kids. Sure…on paper it’s me that has brought in all the money. But it is just as much her money as it is mine. If you think you should be able to walk away after 20 years and say it’s all your money then that says a lot about you. If people don’t want to be married then that’s fine. I’m not suggesting you can’t have a relationship - even a long term relationship without being married. But those aren’t life partners and it’s not commitment. Those are kites and by that I mean you just want to cut the cord if it gets caught in the wind and walk away. Now if you’re in a potential situation where you’re walking in with $1 million and the other has $50k then sure - that’s different but I don’t think that applies to many people.

[@crecasens]

What would be nice to talk about when it comes to buying a new car is the anomaly that occurring now. Many cars that are two and three years old are very close to the same price as a brand new car in this post pandemic error. And it has little warranty left on it. So in some cases, it’s actually more advantageous to buy the new one.

[@smoothbraindetainer]

The real solution is to not buy a car made past 2020. Beyond the stupid prices, many of them use cheaper quality electronics due to the shortage at the time.

[@naziicc]

there is no advantage to buy a new car on lease in any situation. If you have to lease, you can not and should not afford it. Exception is if the car brings you money.

[@thatguyjo1]

So only marry someone higher net worth, got it. Thanks Humphrey!

[@humphrey]

🫣

[@BuyLessJess]

I married a very high income spender and I am frugal to a fault. It actually works well bc logic prevails; we buy low cost index funds, property and not much else. He occasionally checks our joint accounts, smiles and thanks me for “the way I am”.

[@matw1x]

This

[@SA-xf1eb]

Always sound advice.

[@XAUCADTrader]

@@BuyLessJess This should be a criteria for marriageability. My breadwinner friends that married high spenders are not happy.

[@phillip_reynolds]

Great video Humphrey! I really liked the 8-bit video esthetic!

[@Raphanne]

Love the old school game vibes from this video. Nice visuals.

[@TIB1973]

Getting married and having kids are the biggest killers of souls AND wealth if you don't find the right person. Everyone's first marriage is a test but the 2nd is straight up your fault if it fails, you should have learned.

[@firefeethok_tui2355]

First part is true. Second part of what you said is nonsense. Its complicated and nothing to do with conscious “fault”.

[@TIB1973]

@firefeethok_tui2355 that is your opinion. there is a guy at work on his 3rd marriage and nationnwide there is 5% of the population on their 3rd marriage and 2.6% on their 4th. 1st marriage divorce is %54 and 2nd marriage divorce is %67 and 3rd marriage divorce is %73. Its a failed experience no matter which way you go.

[@kaianthony8077]

Where are you getting your statistics from? Overall divorce rate is under 43%, not 56%.

[@TIB1973]

@kaianthony8077 41 to 43 is the stat for first time marriages. You get higher than that if you add in 2nd or 3rd marriage divorces. I usually check in with the stats when they release the census results which averages over the decade. You will get 43% if you read mid decade articles and don't read the entire article. 43% is still big if you want to go with half stats. Apparently, divorces after covid are down but only cause divorces during covid went up, supposedly, because it's easier to get divorce cases over Skype. I will be interested to see the census numbers in 2030.

[@TIB1973]

​@@kaianthony8077 Census information, I check it each decade to see where it is. usually 41-44% is pulling from more current numbers like you will see in Articles from grocery stand magazines or Forbes articles and usually are only accounting for first marriages. If you read the entire article it will include 2nd and 3rd marriage when averaged out, is above 50% if your argument is 56% is bad but 43% is good, then WOW, really settled in to the American failure. Even at 43% its overwhelmingly a bad situation for the men, even though women have equality, they still need a man's money to survive. Apparently divorce is down after covid but that is from the high during covid so not sure there is anything to celebrate there. I look forward to the 2030 stats.

[@punisher6659]

Thanks for your content.

[@nightly522]

great video, completely agree.

[@ddc93760]

Hit us with the facts Humphrey! 👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼

[@user-pp5do8rm3w]

Ex-husband brought house and money to the marriage; I brought earning potential. When we split, I decided it wasn’t fair to take what I didn’t help earn. He kept the house and his money, investments. I busted my hump for 22 years while raising two kids with no child support. Now I’m set to retire early and both kids graduating college without debt. Ex-husband soon to be homeless. The point is: follow Humphrey’s money advice and you will prevail no matter the setback.

[@DaniOchannel]

Amazing🎉

[@fonzieog5072]

What do you mean by earning potential?? What were your sources of income?

[@drumyogi9281]

@@fonzieog5072Inheritance.

[@user-pp5do8rm3w]

@@fonzieog5072 I had just passed the bar exam.

[@user-pp5do8rm3w]

@@fonzieog5072 I was a new lawyer. My ex was a software engineer and had a house and retirement account. When we divorced, I took the kids, he kept all his assets. I kept head down and grinding, and now I will reap the rewards.

[@NadeemKhan-rh2yx]

Thank you for your research. I find your videos are well done. RIght now I'm keeping an eye on Eledator

[@mrmeowpuss]

I think prenups should be standard and opt out rather than opt in, would save a lot of awkward conversations and make it clearer what someone’s after if they are insisting on not getting one and going against the ‘norm’.

[@Pro-kesh]

I got a 3-year old Acura, and it feels new to me and I managed to buy it all in cash. Definitely could have gone lower $$ and invested more, but I love the car, don't regret it.

[@a32tl]

Which model? I’m thinking of a TLX for my next vehicle.

[@i.d.6492]

Yeah okay buddy

[@HangmansHalo]

@@a32tlI was in the same boat, as I’ve always liked sportier sedans. I ended up with a 6 year old RDX and haven’t looked back having an SUV as a daily driver. If you don’t need the space though, TLX would be a solid choice

[@a32tl]

@@HangmansHalo I owned a '16 TLX V6 Advance. Currently own a '21 Accord Touring 2.0T. Love that engine but Honda no longer offers it in the Accord. I'm not looking to replace my car in the very near future but when I am ready, I don't want the weaker hybrid Accord. Therefore, I'm considering moving back to a TLX. Don't need or want an SUV. However if I did, I would highly consider the RDX.

[@Jason-md3xo]

I think if you are able to buy a car in cash, then there is nothing wrong with that. It is when you need to take out a loan where there is trouble, If you make a one time payment in cash, you know exactly how much you are paying for this 'hunk of metal.' If you still want the car, then that's totally up to you. The truth is most of us cannot do without a car to get around for work, etc. If this is the case, then I think your method of purchase is the best method.

[@killerdudee]

Nothing about drugs & alcohol? The combination of drinking, snorting, or injecting your money away into your body is definitely problematic and will wreck your physical and mental health, which in turn can wreck your ability to make money.

[@Arroz929]

The problem is. A person have different values in life. One person is driven to get rich. Other one is just wanted a simple life. Like don’t need to be rich but still need to pay insurance, no need to eat outside, you can shop whatever what you NEED. Medical insurance, planning to have kids. Plus staying away from temptation. Not having a nice car, you have saving money for emergencies. Stop Being arrogant at the road, so you don’t pay damages other people’s car. how you act outside. It’s a win win for me. Not to be rich. As long i have money to save, you can eat whatever you want. And have insurance. If you and your partner think this way. And have a same goals. No divorce gonna happen and stay away from the families like in laws.

[@schrodingersmechanic7622]

One thing not covered about divorce is the change in your tax rate. I went from married/4 to single/0 on my filing which effectively doubled my tax rate. All told between the cost of my divorce, enforcement when she didn't follow the order and child support...it cost me around $250k. This was without a house, business or any major investments. And pre-nups are not ironclad, the judge doesn't have to accept it and can still rule against you. My portfolio would be WELL into the $1M range if I had invested that money I lost in my divorce. To top it off she brainwashed my son against me so I don't even have that. It was just a giant all-consuming hole. It's not worth it.

[@robertanna9964]

I'm truly sorry to hear that she's abusing your son with parental alienation. And it IS abuse. The money can be replaced. Your relationship with your son cannot.

[@gabrieladiaz4199]

I love your videos! Thank you for teaching us these topics

[@humphrey]

Glad you like them!

[@RomanAtwood79]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elizabeth Wesley.

[@GeorgeBailey387]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

[@jeannedawson443]

She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.

[@EmmettDeclan.]

You trade with Elizabeth Wesley too? Wow that woman has been a blessing to me and my family.

[@Donnawilson736]

I'm new at this, please how can I reach her?

[@ConnorAger374]

I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much

[@nevadawolf619]

Good information. Thanks.

[@mRahman92]

The richest women in the world didn't get there by starting companies. . .

[@mithleshkumarsahu6767]

Oh, I love you guys, the best market analysis! Seriously, why not mention Eledator?

[@1003chrislee]

A prenuptial agreement involves more than just establishing terms; it entails strictly adhering to the rule of keeping finances separate, without mingling funds, especially when purchasing property jointly. Maintaining it isn't straightforward; both parties must devoutly adhere to its provisions.

[@thecitiots]

My advice when you younger buy a reliable vehicle just past warranty i buy American so typically 3 years old or more than 36k miles. I now have moved to the next phase buy new and drive it to 200k miles and take care of it im tired of trucks rusting and think i can do a better job keeping it nice if im the first owner.

[@user-mc7ez6lm4x]

I own a Daewoo Matiz since 2011 it costs me $20 in insuranse a year, a $30 in new battery every 3 years, $50 in replacement clutch and work every 4 years and $15 in fuel, oils, fluids and so on every week I do actually drive. Not all cars are money eaters!

[@RomanVarl]

1:07 Signing a prenup isn't a guarantee of any sort, because it can be overruled by the court decision.

[@oyealokoye360]

Wait, do you think cryptocurrency will crash? I don't think so. I'm using Eledator, traders just do business instead of me :) I don't afraid even if crypto will crash

[@fredflintstone2234]

It has already crashed

[@user-qk3oi6dl9n]

The flip side of the coin; the single highest factor correlated with wealth is being married to the same person for life. This correlation is higher than any other single factor including education, high salary, and inheritance. From Boston Retirement Research Institute, a very credible think tank. Of course correlation is not causation, but nonetheless interesting.

[@The__Respecter]

Really enjoy the gamey touch to your recent videos!

[@humphrey]

thanks!! I love games so it made sense lol

[@power4things]

Humprey is the most rational and informed financial commenter I have seen on YT. I see why he is over 1M subs.

[@EcomCarl]

It's crucial to understand the financial impact of divorce and take steps to protect your wealth. Educating yourself about personal finance, investing in your skills, and considering a prenuptial agreement are smart moves to safeguard your assets and financial well-being. 💰

[@rokpodlogar6062]

I liked the graphical theme, the font the graphics. It's arcade style. Sparks memories.

[@raoSENSEI]

This is a great man. I hope people listen to him.

[@wabio]

I like to propose adding #6 to your list. Not investing and continually improving on yourself. Let's face it. Most people are not born rich. They have to learn, work, and grind it out throughout their lives and make the most of their skills. Some people are good at math, others art. Some people are great with kids, some with animals. Whatever your niche is......make the most of it. But I see too many people wasting time and not doing squat or anything worthwhile with their lives. I have a distant cousin who's 30 who still lives with her mom and has never held down a job longer than 4 months. IMO this is the ultimate wealth killer.

[@dfresh2989]

9:44 the one constant is chipotle still gives you e-coli and staph.

[@edorofish]

Own a 2007 BMW (Junk) and a 2013 Truck. Totally agree on the cars. We plan to buy a used car soon.

[@renogunzddragon1900]

Lmao, then you have 3 vehicles that need insurance..that's not financial literacy 😂

[@Euphorica]

​@@renogunzddragon1900 older cars are usually a lot less to insure. It's even less as you get older

[@VMYeahVN]

Yeah i really think society needs to re-think marriage and the importance people put on it and the way finance law treats it. It's a major issue for everyone. You can be with a partner for life and not need to marry them. But everyone is pressured to because of religion, the wedding ceremony industry, and the incentive of joint filing tax benefits and next of kin rights (Which should function more like chosen beneficiaries rather than being tied to marriage). But that comes at the cost of there being HORRIFIC financial ruin if you get divorced without a pre-nup. As someone with parents who have both been through multiple divorces ending in financial ruin, while also having a 80-something year old uncle who's very happily been with his girlfriend for DECADES without getting married. I have very strong feelings on this lol. Marriage isn't worth it and your relationship isn't made better by it and it's not needed.

[@joelplatt2651]

Not everything in life needs to be seen in a financial light. I understand that the financial fallout sucks, but people are not just financial robots. The truth is they do make decisions based on religion or culture, love, family, community and many other things that you can’t just say aren’t worthwhile for anyone just because they aren’t what you would prioritize

[@VMYeahVN]

@@joelplatt2651 That's great and all but the problem is it's been forced to be a societal standard for everyone. If someone wants to get married and take that risk, they can. Literally no one is stopping them. But there's literally no alternative for the rest of us. It's been forced to be a financial incentive and next of kin rights that people who don't get married are excluded from and that's objectively wrong. That's the problem. By your own logic of not making everything financial. Marriage should be about love/religion/whatever only and have no financial/next of kin benefits single or partnered but not married people can't get. That's my point. The fact that marriage has exclusive financial benefits means it's also a financial decision and it's incorrect for you to posit that shouldn't equally be a factor in whether or not people decide to do it. But just like society has intended. You are ignoring that and making it an idealic thing that you should just do without thinking about the financial side.

[@tmi4507]

⁠@@VMYeahVN I’m with your comment. The entire legal and financial system in the United States benefits a married person much more than a person who isn’t.

[@joelplatt2651]

@@Kevin-fm1vn I don’t think that spam reference was directed at me? I think that you’ll that it’s pretty easy and reasonable to ignore if you have 5+ considerations you prioritize over financial fallout on the chance your marriage fails. I know I’m going to get dog piled on but maybe you should get screwed as the higher earner. If you think of it like a failed business relationship, you’re going to split the business fairly regardless of who was the revenue generator and who was the office manager if you both own 50% stake

[@JulieStevenson752]

Your 80 something uncle is awesome

[@burntrubber7458]

If you work in a factory there is no such thing as asking for a raise because your pay is based off the plant and corporate. Thankfully, my employer has a 3% match on their vanguard 401k and has great insurance and a pension. I'm in ohio and the cost of living isn't too bad here either. Currently paying off all debt as fast as possible so I can invest to the max!

[@RogueMonkeyJr]

Nice Keychron keyboard :)

[@KA-NV]

I got divorce and we decided to take the money we each deserve. I didn’t ask my ex to give me half of his money as I am perfectly capable of supporting myself, and I didn’t find fair to take his hard earned money away.

[@sanguineel]

Even if you hire a lawyer and sign a prenup, courts very often toss them out.

[@dakotafaught7593]

Can you do a video on how to budget and save for consumer items and or vacations cause all the videos are like save but don't touch what would be some good tips to keep the growth going but also enjoy life?

[@awsambdaman]

Good suggestion

[@josephtrudel1816]

Depression is long overdue...especially on house affordabilty

[@supernotnatural]

I'm from Turkey. The dollar/turkish lira rose up so much last few years but stable. They have raised compound interst to %58 year. Compound interest in Turkey is amazing atm. People praise %8 per year. Yeah, I'm making that in a month. And dollar expected to pull back too.

[@mreit28]

Divorce problem 6: women will play the victim card to their advantage and claim ’emotional abuse’ to get whatever they want

[@Mechanical3000]

Yep kept my “blue” since 2003. Been 16 years without a payment. Wish my portfolio was started when I bought the car but always stay invested 10+ years now for sure and always into the future.

[@Raphanne]

Your father divorced three times?! I wonder what lead him down this path. I remember you saying that your father was very responsible with money and that, even if he could afford it now, he often didn't want to spend any money to better his daily life because he prefered to save it. So, it's a bit surprising.

[@raoSENSEI]

Divorces can turn a man crazy with anger and frustration. Eternal Misery .

[@uppitywoman3647]

Divorce is tough. I'm a woman and got a little alimony after divorce. Not enough to be rich by any means. However, the little I get is more than I ever had when married, as my husband handled the finances, I was a stay at home mother with few possibilities. Financial manipulation is a good reason to get divorced. Not rich, I got half now but before I got nothing.

[@scot909]

You won’t know who your married to until divorce ! - vetting someone won’t help 🤷🏿

[@RachellGroth]

My portfolio for the past 30 years has always been self managed and I own 3 shares of RPC WEALTH IAF Berkshire Hathaway Class A stock (BRK:A) which I bought in at about $17,000 during the mid 90s, I’m currently liquidating some of these positions to incorporate new Gen. Stocks, but am I better off re-investing into Gold as it seems stocks are a little too unstable right now.

[@ggillespie9655]

Don’t borrow for depreciating assets. Vehicle is the worst. Only borrow to make more than what you are paying. Good debt is ok.

[@cmswimz]

50% of people aren’t getting divorced. It’s a much smaller amount of the same people who get divorced multiple times.

[@greggpurviance7252]

Prenups are stupid, especially if you are just starting out in life. If you are starting out, make sure. Work at making it successful, be much better off.

[@ramses8847]

My friend is a divorce lawyer in WA state. He says he see's judges just throw out the prenup quite frequently.

[@SoonerMike211]

Since most of these are more likely to prevent wealth accumulation rather than cause someone who has wealth to lose it, I’d love to see a video that highlights common ways people fall out of wealth.

[@derekrequiem4359]

W vid 👍

[@humphrey]

thank you, W comment

[@charlesjudeumahi689]

Hi Humphrey, you mind if I get the discord link? The in the description's expired. Love the vid btw!!

[@humphrey]

Oops, my level 3 expired, use this link for now: discord.gg/pXq9VhbV

[@steveburke7675]

I lost half of the house value, half of investments, half of my pension to a cheat.....to the tune of about $800k. It's too risky. Just don't do it.

[@frankalexander5401]

I know a well known thoracic surgeon who works in the San Jose Area. Despite the fact he makes a “ton of money” for his surgical procedures, he lives in an old one bedroom apartment and drives an old “beat-up” Honda Accord. When I asked him about his car, he said the choice of his car was the result of having to pay alimony for 7 ex-wives!!! He was as poor as a mouse!!! 🤣🤣🤣🤣

[@robinmiller871]

Not really funny. He shouldn't have to pay any of that!

[@lynninfinite]

Why did he get married 7 times lol

[@thetapheonix]

@@lynninfiniteWhy do they deserve any money?

[@lynninfinite]

@@thetapheonix California law lol, whether or not you think they deserve it, he should have known what he would get into when getting MARRIED. His fault if he had poor prenups or none at all

[@Mrjudsonjames]

The divorce resonates with me, but it wasn’t even divorce, just my defacto partner, not married, up and left out of the blue and then came after my pre relationship money and assets that we had always agreed were separate. Because of these verbal agreements and promises I never had the prenup signed that I had initially suggested, because I trusted them. Once they left me they were horrendous. Their father was a family lawyer and they came at me hard. It broke my heart a second time, and far worse than them leaving me. I will never make that mistake again. It set me back so much financially. Only good thing was all our mutual friends turned on them and sided with me when they saw how awful they were being.

[@choosey87]

TBH a prenup and living trust will help protect you and your assets😊

[@chillikoala]

Agree with your list, but let's be real though - Divorce is a wealth killer for men, overwhelmingly. It rarely impacts women negatively, in fact, the opposite -- it's often a wealth enabler for women.

[@matthewhoward3154]

Wow looking at those car statistics I’m feeling very validated by living in SF and not having a car after college haha. Sure, my rent is $1500 a month, but I’m saving almost my rent’s worth of income by avoiding a car

[@robertanna9964]

In SF, You're saving at least that much just in broken glass replacements from the smash and grabs.

[@marklechadores5574]

Those top 5 are definitely the norm for middle class but having terrible financial lifestyles will make that demographic a lot worse since those "assets" are heavily relied upon on credit. However, the middle class have its pros and cons as long as those debts are managed properly through financial literacy, education and discipline as well as guidance from a certified financial advisor.

[@tallbrian100]

Got married once, got divorced once. I ain't making that mistake again.

[@yuramamin6611]

All comments about divorce, true mirror of this society

[@IusedtohaveausernameIliked]

I would have been way more wealthy if I had stayed married. But I'm happier being single. It was worth it.

[@user-gj6rl7po9q]

When it comes to cars u can always get an old car/suv/truck and just do engine repairs/swaps on it. I’m not a car guy at all but a new good engine plus instal is 5grand or less easy. What ever works tho

[@RichardTouchfaith]

4:23. Explains why he is still single. Smart man!

[@jseels]

On the flip side… if you are self-employed. New Cars are a great way to help lower your taxes to what you would have otherwise paid in Taxes anyways. So it definitely depends on the situations.

[@Justforcoms]

People always mention the figures of missing the 10 best days in the market vs staying invested, but you’re just as likely to miss the worst days. Would be interesting to see a chart of staying invested vs missing the 10 worst days of the market!

[@shad3_king554]

Learn from father Yang

[@grystle3091]

@humphrey What's up with your keyboard not having a numpad?

[@masoodb2464]

The red pill has entered the chat.

[@yomismo1888]

All roads lead there.

[@kaputasri]

The red pill is the truth after all.We have to wake up to reality.

[@KirkFickert]

I sit on the sidelines of the market. Then again I buy tillable acres as they come up. Then again I'm more concerned with the return of my money not return on my money.