Once You Save $1000, Do THESE 5 Things NOW

[@BrianaisGoingPlaces]

6:02 "There is no one who knows your potential better than you do." Love that!

[@CharleneCong]

One thing I've learned along the way is the power of diversification. Once you've got that emergency fund locked in, consider spreading your savings across different investment vehicles. Whether it's stocks, bonds, real estate, or even starting a side hustle, diversifying your portfolio can help safeguard your finances against market fluctuations and accelerate your wealth-building journey. Great video!

[@Thesakuraharona]

1k is not nearly enough for an emergency fund these days. I have always heard to have 1-3 months saved up, but I strongly recommend 6+ months worth saved up. Especially after covid had hit. Most unexpected events these days will wipe out 1k.

[@Pamela_Lopezs]

For a lot of people $1,000 is a lot of money. I dont even have 900.

[@os-qt1hc]

1k really is nothing. I spent 2700 euro on a dentist 2 years ago and when I finally recovered from that huge unexpected expense and was able to save the money back, I had to spend another 2000 euro this year on my teeth again, 300 on a window that needed to be fixed, 100 on a bike repair, 50 on replacing some broken items, etc... it is so hard to save money when your salary is low and you constantly have unexpected expenses. my net salary is 1k/month.. I had to stop eating in a canteen and started to cook my own lunch last month and I will continue to do that because I cannot afford to pay 6.50 every day for a lunch. I hate the fact that I have to spend my evenings cooking, but I manage to save 100 eur/month this way so I guess it is worth it.

[@BOASecurity]

it's not meant to be enough, it's meant to be a start

[@Daelen]

@@BOASecurityexactly

[@sparklemotion86]

@@os-qt1hc you should've been cooking your own lunch the whole time 🤦‍♂️

[@alanhf]

"Invest in your network." And that's why I'm totally screwed.

[@erenkur3832]

Me too, I don't enjoy being social

[@jahkimgary]

I’m the new comment over the pathetic one under me brother u don’t speak nonsense u are helping a lot of people thank u

[@TheGhostofAbigailMills]

I love all the comments saying "1K isn't enough for an emergency fund!!!" like Vincent didn't just say "if you DON'T have an emergency fund, save the 1K for it; if you already have the fund, put the 1K to use instead of saving it pointlessly". Like ... LISTEN BEFORE YOU COMMENT MAYBE?

[@lin90210]

Be careful. You need more than 1k in savings. Recently my emergency fund was wiped. A house repair turned out to cost over 10k. If i didnt have more than 1k emergency fund...i would be 11k in debt

[@beth3535]

Agree. I’m at 5K for just such situations. I get SS and live on that (house and car are paid off). Challenge is to double that emergency money, keep it accessible, and get decent interest.

[@orlandonieves652]

But is a great start. Its not meant to be your whole emergency fund, is a nice starting point when the majority of ppl dont have even 1k for emergencies

[@ettenadra]

Great motivational video. You definitely mastered content creation. However, it was not the advice I was looking for “after getting $1000”. More like these are tips you should be doing (or at least start to) to get that $$$

[@Amanda-dt7kq]

I still believe "borrowing" napkins from fast food places is a smart habit 🤓 Thanks for the video.

[@VincentChan]

haha love it! what did you think of the video?

[@kenyonbissett3512]

Don’t forget the sauce from Taco Bell, lol.

[@calebdoner]

Building my network is something I really need to focus on. Thanks for the reminder!

[@famicomnintendo]

So true! You can only do so much by yourself you need connections to make things happen

[@caroleanne3941]

All this stuff was money, all this money was time

[@wendyshoowaiching4161]

Yes many youtubers have this hype feeling they are going to do their values making money but facing the wall of incapacity of having the capital to start and also not getting the social network help, connectivity with people (network of people support) to suceed

[@Rscapeextreme447]

That selfie tip is really good

[@VincentChan]

haha thanks! I find it super useful

[@kenyonbissett3512]

You can do this with others in your life. Mechanic, plumber, electrician, dr. Why would this be important. Relationships get you more than being a stranger. My son grocery shops and tries to get good deals. He is always nice to the cashiers. Yesterday, the cash asked, You really like to shop the deals?” He said, “Yes, it’s the only way to shop.” She smiled and said, “That free paper over there has a $10 off coupon.” He walked 5ft, picked it up and got $10 off. Relationships save money. My mechanic frequently gave me 15-20% off for cash payments. He knew I couldn’t always do it but frequently it was a big help.

[@brian9438]

6:55 "...still to this day one of my biggest regrets in life. I didn't know it existed until I was 22." Wow.

[@middlesys9180]

How do you feel about CDs? Also, for the financially challenged.. do you consider Barron's and other money market subscriptions to be helpful?

[@RachelKay528]

Interested in the CD question!

[@VincentChan]

it really depends on what your goal is with the CD. Do you mind sharing more details about it?

[@middlesys9180]

@VincentChan Sure.. its a 13 Month term with an APY of 3.75%. My goal was just to put the money in an interest bearing account for lack of a better idea of what to do with it.

[@hazyy47]

@@middlesys9180 instead of doing a CD with an APY of 3.75 you should just sign up for a High-Yield Savings account. I have one through SoFi and Credit Karma and they both offer somewhere from 4% to 4.5% APY that is paid out monthly.

[@rosalinasantos3078]

CDs are great investments if you’re worried about jumping into stocks. I love laddering for CDs since the longer you have them the higher interest you get. Laddering is when you open up multiple CDs with different maturities so instead of doing $1000 for about 3% in one year you can put 200 and 3% in one year, 200 at 4% in two years etc. you can even spread it over months but the idea is you gain more every year and still see a tangible return so after the first year that now $206 can be reinvested at the top of the ladder and you’ll still be on track to see a return in one year that would now be the second CD at $216

[@jeffmiller1140]

Your subscribers are getting larger, all the time! Congrats! Your content is very well done!

[@wicky201]

Other than my managed account, I have my own "play" account. I've recently started buying a few high yield REITs including those with grocery store based strip malls and high end retail.

[@Adaywithjon]

Time and time again, I'm so captivated by your videos Vincent! This one is my new favorite! Job well done!

[@DavanteM]

Great video production as always VIncent! I'm seeking out number 3 currently. Do you have a course or offer mentorship on growing/improving a KZbin Channel?

[@iAMtheYELLOWrose]

I liked the video. It really shows your integrity, discipline, and diligence. Wow. You developed these when you were so young. 😊

[@bluemangoo000]

Agreed, not everyone lucky enough born with some "opportunities". For me personally, my language. that will be a main challenge to really get notice when networking. also just in general I am not a talker. what i have in my mind, come out different and weird from my mouth. 🤣🤣

[@the1337fleet]

What does RIRA stand for?

[@VincentChan]

i break it down in the last section :)

[@the1337fleet]

@@VincentChan I looked at the final section and the one before multiple times before asking my original comment 😣 I must have missed it somehow

[@jcheupy9845]

Same, I watched the last section multiple times and didn't see where he explains RIRA, just see that he advocates for a Roth

[@AnnM223]

Rira is Roth IRA

[@maxhatty]

5.5 ways video says to plug yourself without making it seem that way. Good job dude. You did it in the last 10 seconds of this video.

[@hampopper3150]

Oh my gosh 1000$ wooo lets go spend it all on a crashing market.

[@Sakurasan2023]

Great video 📹 👍

[@MrBittercoke]

Why do you have data analysis as a high income skill? Do data analysts make that much?

[@VincentChan]

you need to be able to analyze data in anything you do :)

[@wrightchance5891]

How will AI effect 3-5?

[@ericksumarnkant3666]

If I invest $1,000, and I get 10% per year, that's $100 per year, and in 10 years, that's $1,000 (ONLY!)??

[@bronstanton9398]

Nope - its $2594. You are forgetting about compound interest

[@ericksumarnkant3666]

@@bronstanton9398 Are you sure?

[@ericksumarnkant3666]

@@bronstanton9398 What's the mathematical equation of "compound interest?" How did you arrive at the answer? I want to see an equation.

[@anesthesia101online]

FIRE ! Tell me more

[@prilailiu]

I just got my first job and is this useful to me? I don’t have an emergency savings.

[@kenyonbissett3512]

It’s 9 month later, do you have that emergency fund yet? 😊

[@prilailiu]

@@kenyonbissett3512 Partially! I only don't have all of it yet because I had to use part of it to a deposit since I got into university (: But I'd have two-thirds of it by now if it wasn't for that emergency deposit. Though at first since I had to say a lot of "no's" to outings (I'd still go, just wouldn't pay for necessary things like drinks. I don't drink lol) and hold back on buying things that I felt like I could just buy it later.

[@OfEdito]

Is it true that you don't have to pay taxes over the money made by investing into the stock market? I am from Europe and I think that in here we have to... anybody who knows better? tnx for the great vid!!

[@darrendenton9667]

If you live in the UK, you can get a Stocks & Shares ISA. With it, you can invest £20,000/year tax free

[@em97c]

Depending on where in Europe almost certs you'll have to pay some kind of capital gains tax on it. Be careful if youre in Ireland. We have (for now) deemed disposal on ETFs too and it's pretty ridiculous

[@shumatsuopost]

I really appreciated the practical tips and advice you shared. It's always great to have actionable steps to take when it comes to managing money.

[@VincentChan]

thanks so much! What did you think of the video btw :)

[@deepdude4719]

You sold us a Newsletter, a youtube video and ....

[@vornamenachname594]

You spread your videos out like a madman. Lots of noise to signal.

[@reynaalfaro85]

Thank you for sharing your knowledge! I’m not sure if you already created a video but I was wondering if you could explain investment for beginners. There are many videos here but I trust and love how you explain things.

[@luckymacaroni2888]

You going on bing for information really show your dedication to your craft! 🤣

[@plyric]

8:21 for stock tickers.

[@qutielove2208]

You did not just ripped a real dollar bill!! 🤯

[@GigaChadBigW]

I dont have time like I work 12 hour a day in a game dev studio without overtime so 38k a year in Puerto rico taking care of my parent is really hard for me to find time and my car broke I think is time to use the good old rope :/ , amazing video

[@lizhernandez3857]

Great Video

[@VincentChan]

thanks so much! What did you like the most about the video btw? :)

[@inday1453]

this is one thing that i have to hear.

[@VincentChan]

thanks so much! What did you like the most about the video btw? :)

[@BSGSV]

GREAT video: Excellent advice. Great on-point (non-frivolous) visuals from movies. You nailed it.

[@VincentChan]

thanks so much! What did you like the most about the video btw? :)

[@BSGSV]

@@VincentChan I liked the analogy with building a house with a strong foundation really made your points. The 2 things that made the biggest impact in my career: the value of networking and the power of putting money in the general market (investing) vs individual stocks (gambling). BTW, I still run into people who don't know about or understand the value of ROTH IRAs.

[@anafadeeli1720]

West of time

[@hernandezgomez932]

I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.

[@savanna983]

It is possible to produce superior performance provided you do something different from the majority. However, most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.

[@sanchezandres3467]

Having monitored my portfolio performance which has made a jaw dropping $470k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.......

[@toddjesse8515]

Interesting. I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?!!!!!!

[@hernandezgomez932]

Hello Do you trade on your own?

[@sanchezandres3467]

Hi. Am trading with expert Mrs Natalie Brunell , a regulated broker in the US. Met her sometime early last year at a startup funding event and her KZbin channel is Natalie Brunell . She had some interesting things to say about the state of algorithmic trading today.very obviously I'm seeing the results.

[@dashingmay]

Just empty words

[@kenyonbissett3512]

Depends on who you are and your goals.

[@theokay1]

Yes you did just say empty words

[@strkz4009]

if you can’t take anything from this then you have the wrong mindset bro

[@Bradc24]

Right. It’s this way with every one of these guys. Seems like they are making a point that they never get to lol

[@zeljkodjukic5889]

What's the name of that of that investment that you said ?

[@VincentChan]

which one?

[@foodlover8151]

Great tips!

[@twitchster77]

I like how he pretty much just keeps saying "keep watching and I'll tell you my secret!" over and over and over again in different words. Seriously dude, get the f to the point.

[@chrisleaf]

Did this MF actually just rip up $100? 😢

[@traceybiles2061]

Save 1000 for emergency...

[@christiansnaturestudio6599]

Invest in crypto 😅

[@DaSlippyNana]

Help pls

[@ArcherHall64]

Is rira. Roth ira