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.

[@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

[@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

[@katiecano9847]

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

[@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.

[@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

[@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.

[@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.

[@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.

[@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

[@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.

[@SuccessMikeMatthew-gw5uh]

You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller

[@fameswap-dq5eo]

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

[@stephaniebeddis8069]

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

[@AartFiona]

Most people are retiring this year and has nothing to show for. But I assure you it's never late to get your financial life together again.. All thanks to Charlotte Grace Miller for I and my family

[@SuccessMikeMatthew-gw5uh]

she's mostly on Instagrams, using the user name

[@SuccessMikeMatthew-gw5uh]

FXMILLER15 💯.. that's it

[@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.

[@matw1x]

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

[@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!

[@NadeemKhan-rh2yx]

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

[@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.

[@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.

[@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.

[@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”

[@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.

[@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.

[@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.

[@appleztooranges]

I hate debt. Paid house off in 6 years

[@nightly522]

great video, completely agree.

[@Raphanne]

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

[@ddc93760]

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

[@The__Respecter]

Really enjoy the gamey touch to your recent videos!

[@humphrey]

thanks!! I love games so it made sense lol

[@punisher6659]

Thanks for your content.

[@gabrieladiaz4199]

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

[@humphrey]

Glad you like them!

[@mithleshkumarsahu6767]

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

[@sharpemang]

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

[@billbob4856]

Fyi some states defacto marry you if you cohabitate with someone long enough. Make sure you’re not avoiding the marriage for nothing 😂

[@nevadawolf619]

Good information. Thanks.

[@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

[@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

[@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?

[@power4things]

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

[@user-of6lp2ci6w]

I’ve taken the decision to lease my next car. Brand new, fixed price also includes car tax, servicing and breakdown. My old car was costing too much I’m willing to spend a little extra for some security. £240 I feel is still cheap for a brand new car and all the added extras.

[@RomanVarl]

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

[@raosensei63]

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

[@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.

[@raosensei63]

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

[@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.

[@josephtrudel1816]

Depression is long overdue...especially on house affordabilty

[@RogueMonkeyJr]

Nice Keychron keyboard :)

[@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.

[@sanguineel]

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

[@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

[@mreit28]

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

[@BrownAtwood]

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.

[@AlexiMcGrane]

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.

[@RoseDawson917]

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?

[@Lewismoore6903]

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

[@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

[@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. 💰

[@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.

[@yuramamin6611]

All comments about divorce, true mirror of this society

[@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

[@baotruong248]

Interesting to learn the divorce stats on second and third marriages. I had a high school teacher that had three marriages. My brothers and I all took her class...but she had a different last name each time she taught us.

[@FatPandaCries]

😂

[@paulbo9033]

There seems to be a lot of people that don't understand you can date new people without marrying them.

[@DrBilly90210]

Any marriage after the first is the triumph of hope over experience.

[@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

[@shad3_king554]

Learn from father Yang

[@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.

[@jezzarisky]

Cars are expensive. Even pre-owned cars cost a lot as one trades some amount of depreciation for the lower purchase cost, but with more immediate wear and repairs, and potentially lower period of owning the car before swapping it for another car(before this cycle repeats itself in 10-20 years) It will certainly be less than $12k a year, but it can still very much cost thousands a year for a car that is paid off. In many areas one can save a lot if they can get by without a car. An electric bike, even an expensive one, will be cheaper to purchase and operate than a car, add in public transit, and that can swap the need for at least one car in a household with 2+ cars.

[@RichardTouchfaith]

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

[@choosey87]

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

[@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

[@Sirslayer321]

Not accounting for inflation was the First REAL wake up call in my adult life, it made me really think about my future.

[@Bl00dMalice]

9:43 - As an avid patron of Chipotle, I don't understand where you get the $15 price tag for a bowl from. In my state I can still get a chicken bowl for $10+ with tax. And in searching around online, many places still sell bowls for less than that. $15 is what I pay If I get steak AND guac. And for those than don't want to down that many calories at once, its common to buy a bowl and a couple tortillas, effectively halving the cost of the meal to make way for two.

[@basilman121]

Yeah, typically lunch runs me 10.80 a meal. No soda, no sides, just food to sustain until I get home.

[@derekrequiem4359]

W vid 👍

[@humphrey]

thank you, W comment

[@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!

[@mr.sombra8257]

If I am at 42% at mortgage and to 60% with other expenses, I am in big proble???

[@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.

[@denaetak1147]

All of them...❤

[@gardencat4952]

There is a 6th wealth killer in the US. In the US healthcare costs can wipe you out even if you have decent health insurance. Having a rare difficult to treat medical condition, cancer, or need highly innovative surgery that few specialists can do can very quickly land you with 5 to 7 figures in debt because health insurance doesn't cover it.

[@mRahman92]

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

[@DayrusBPB]

#6 & #7: Taxes and Hospital Bills

[@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.

[@joelplatt2651]

If you only see life through what’s optimal financially, marriage is a bad deal. But that’s a really unfulfilling lens to live your life through

[@i.d.6492]

Lmao how many people didn't look at life through what's optional financially and still ended up in divorce almost half of the people get married today end up in divorce. It's a reality. And guess what, most of them now, especially men will say they wished they signed a prenup. Life isn't fair and marrying someone without any financial protection in the future in case of divorce is a suic1de.

[@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.

[@genst4493]

How about health issues or expensive lawsuits?

[@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.

[@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.

[@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

[@helloeveryone906]

Separation can be easy, unless other side is bout "money 💰"

[@DaniOchannel]

Cheers to all of us finding that perfect match. Sorry about your parents, Humphrey ❤

[@Daddy2025HQ]

I don’t buy car or house I’m single n also saved a lots

[@aandhereitgoes]

What does it mean to miss the best days? It sounds a lot like timing the market which in my experience is the biggest wealth killer. Do you think weekly dca is enough for staying invested in these “best days”? Or am I misunderstanding?

[@talethaqueen2042]

I think it sounds more like "time in the market, not timing the market"

[@SA-xf1eb]

Getting married does not make financial sense for men. Not these days. Those assets include your 401k and retirement plan. Not to mention your home equity.

[@MyOrangeString]

Do a prenup. Solved.

[@SA-xf1eb]

@MyOrangeString That only helps for what you had before. What you spend years putting into it while married is fair game. Particularly, if your spouse does not have one. Then that is the 401k for both of you. Half of it gone.

[@mark9294]

@@MyOrangeStringprenups are routinely thrown out in court when push comes to shove. They are meaningless.

[@greggpurviance7252]

Made financial sense for me. & many men & women I know.

[@theblerdshow]

Find a partner with the same ambitions and goals as you. Two incomes are better than one.

[@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.

[@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.

[@tusk779]

Is the discord server still a thing? I can’t join from the link in the description

[@humphrey]

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

[@artyom9499]

15 bucks for Chipotle? What yall put in it??

[@frankalexander5401]

We gave our kid the money to buy his new (2024) Lexus in CASH! The money came from my cash flow. Life is good.

[@stevensanchez7740]

Damn that shit mustve felt good congrats bro

[@DezNutzBich]

How is that finacially sound?

[@Beadgcfb]

Divorce was very costly but I'm not convinced it was more costly than staying married. I'm fortunate to still be set to retire early given the time I had to recoup, while she sadly squandered her half.

[@andrewlee4714]

Buying stocks, PYPL, RIVN & LCID-Down $15K

[@serenitypeaceandcomfort3669]

My basic car takes most of my money. But I need it.ugh.

[@humphrey]

if its a necessity then, its a need! But hopefully its not taking up too much of your budget, if it is, think of ways to reduce that cost over time

[@wawo9193]

If only we had car free infrastructure…

[@Hjorten93]

”because i was not alive for the first time” Me: OMG YOU DIED????

[@talethaqueen2042]

😂😂

[@saeedhossain6099]

the single most impactful financial event in any personal life is divorce, rich or poor, its a hand grenade you decided to hold.

[@scot909]

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