Where Did Americans’ Savings Go?

[@Raniyanhunter]

Recession! Crash! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I buy into as a newbie to safely grow my money.

[@garnold-l5p]

It’s best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie it’s advisable you work with an investment advisor to help set up a well-structured portfolio.

[@Mlanderos-t9e]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@Anessa-gibson]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation

[@Mlanderos-t9e]

TERESA L. ATHAS is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.

[@Anessa-gibson]

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

[@alicemendoza5269]

Because it directly impacts people's cost of living, which they experience right away, inflation is much more destructive to people than a declining stock or real estate market. The severe pessimism of the market sentiment at this moment is not surprising. Help is essential if we are to live in the economy of today.

[@thomaslewis514]

I feel like I could use some more help because I am having so much trouble navigating the market. Since the majority of my assets have already been sold, I might need some advice on where to put my money in investments.

[@Igorstravinsky788]

If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.

[@godof-ou1dw]

@@Igorstravinsky788 Please let me know the name of the investment consultant you work with and, if feasible, how I might get in touch with them.

[@Igorstravinsky788]

@@godof-ou1dw I found "Ruth Loralann Brennan. on a CNBC interview, and I contacted her for assistance. Since then, she has provided me with entry and exit opportunities for the stocks in which I am interested. If you want care monitoring, you can look her up online.

[@patrickperez7387]

@@Igorstravinsky788 Insightful... I was curious after reading what you shared, so I Googled her name. I came across her webpage.

[@easyrider3112]

This is the first time in 3 decades that my savings is exhausted. This is true of almost everyone I know. Costs went up and incomes didn't.

[@happycook6737]

Find frugal friends! Become a ninja tightwad. So much fluff in most peoples' lives. Too many subscriptions, fancy gym membership, personal care products, salon haircuts & treatments, giving gifts, home decor, fancy toys, new cars, eating/drinking out, etc.

[@busterbiloxi3833]

Blame yourself for being a sucker!

[@feliciapate7926]

What do you do after cutting out all that? When you do your own coffee, rarely eat out, and buy needed items at thrift shops what else can you do? Become an ascetic monk and party like it's 1099? (Humor and hyperbole aside, I'm being sincere.)

[@busterbiloxi3833]

@@feliciapate7926 Find something to do. Are you a mental case snowflake?

[@happycook6737]

@@feliciapate7926 You have to decide if there is a job that will earn you more money. Obviously a $10/hour job leads to poverty. Another way is to move to an area with a lower cost of living because $10/hour jobs are available everywhere. For me, I have a tight budget. I spend $4/month on personal care products, $150/month on food for me, $50 insurance, and $120 car gas. I work full time and to get a free place to live I work nights/weekends as a housekeeper/petsitter. I don't use toilet paper, tissues, napkins. Instead use a water sprayer, cut squares from old cotton T-shirts for washable tissues, and use thrift store polyester napkins which I wash once a week. I cut my own hair/nails. I mostly drink tap water and occasionally homemade iced tea. For sweet treat I make a microwave mug cake because it's tasty & cheap. I pack my lunch. For fun I go to my library which has free wifi, free lectures, a seedbank, newspapers/magazines, etc. I take the dog to a dog park nearly daily. I ride my bike around the area. I visit friends and we do fun stupid stuff like charades, board games, cooking nights, learn new dances in the living room, etc. I volunteer. My friends are frugal so we don't exchange gifts, etc. We must watch our pennies as most people get poor $5 here and $20 there. An example, cost of soda. We can easily drink 3 liters weekly. That's $3 x 52 weeks in a year or $156. But if I drink soda for 80 years that's $12,480 spent. Do I like soda that much? I found out, I don't. What about lunches out? That's only $10/lunch. Well over 80 years it is $292,000 spent $10 at a time. Do I want a fancy lunch or a paid off house? Name brand catsup only saves 30cents. Is it worth it? Yes it is because if you take care it can add up in your favor. Hope this helps.living on a Dime and dining on a Dime are great.

[@AlexaVonSuess]

What's depressing about the USA is that even if you do manage to save, it can be gone in a second for something out of your control. I spent five years saving a hefty amount "just in case." I broke my back a few months ago and now it's gone. Just like that - even though I have insurance. So what's the right amount? How do you ever feel secure?

[@callous21]

Move to a country that makes Healthcare a right

[@RoseBlackGoku2023]

well, if you didnt save and broke your back... where would you be?

[@saleens330]

Just the US huh? So if I move to Canada I’ll never have an emergency that could tank my savings?? Good one…

[@joeb1522]

I agree that healthcare expenses can be expensive. Most Health insurance plans have an out of pocket maximum. Did your insurance plan not have this?

[@drscopeify]

In the USA every insurance plan has a maximum per year a person can pay for health services and after that is paid everything else is free, it depends on the plan you signed up to but for most it is around $1000 to $6000 so your savings I guess were around that amount? That is not much savings. My insurance is from the company I work at and the out of pocket maximum is $3000, if I get hurt and need to pay $20,000 I only pay $3,000 and any other health care issues for that 1 year is also free since the maximum was reached. The Health Care in the USA is not bad at all thanks to this out of pocket maximum, and this was the work of Barak Obama's Healthcare reform law.

[@coreylee9342]

A lot of people are unable to save due to the cost of living being up to 50% or more of a household's income, adding in rising food costs, rising insurance premiums, everyone seems to be spending more to live, but wages have not kept pace.

[@donaldlyons17]

Easiest explanation to explain where the money went!!! But obvious does not make for good content!!!

[@ahndeux]

People always have options. If you buy the same food, eat out everyday, what do you expect? Learn to live BELOW your means no matter how much you make and you will be fine. America is one of the richest countries in the world. Can't afford the rent? Move to a cheaper place or just rent a room. There are always options if you decided to be serious about saving. The rest of the reasoning are all EXCUSES. I know guys in my job that makes $150K to 200K a year and they live paycheck by paycheck. Why? They spend more than they make. They live in a fancy house by the beach, have fancy luxury cars, dine in fancy restaurants, wear nice clothes, but can't even pay off their student loans or credit card bills.

[@cjhoward409]

On average … the average family is spending $1,000 more a month on just basic expenses !

[@nemo6365]

​@@ahndeuxTHANK YOU!!! so nice to see someone finally gets it! Im so tired of people complaining about the prices of things when they literally live way beyond their means in the first place! I have already saved 10 grand starting in January and I only make 12.25 an hour! Its cause I realized i don't need half the crap that America is selling! I get around fine in my 2001 buick century that I bought for only 1,000 and it had 111,000 on it when I purchased it. I go to work and to the store for food and thats it! Im sick of people gripping about how it wasn't like this in the 50s well they still budgeted back then as well! I remember in the 80s my mom was complaining about how she couldn't afford gas and now it's way higher! It will never be enough for some people and some people don't understand that your not meant to have every little thing that you want! You will always have to budget cause that's life. Nice to see someone gets it! I get sick of people acting like the world owes them everything while they don't do a damn thing to curb their spending habits.

[@mentonerodominicano]

The fact that someone actually came up with a term like "excess savings" shows you how messed up the system is.

[@BenjaminCronce]

Savings is like fat. You need some to stay alive. And often more is better. But too much is also bad. Too much of a good thing is bad. How the world works.

[@abinashsatapathy6679]

@@BenjaminCronce stop spouting BS online. It will make you sick.

[@DMH52]

@@BenjaminCronce What? A savings account is nothing more than a buffer for emergencies. Having a good amount to cover at least a years worth of expenses is sound advice.

[@justingrinstead4315]

@@BenjaminCronce yes! Totally this. I’m in business for myself so cash flow can be spotty. There are moments when I have money in my account to maintain 0 balance on my CC, but sometimes I don’t get paid for 2-3 months on a job. It’s about managing the balance. Always knowing how much you owe and setting your own personal limit. I got 100k unsecured credit limit. But I set my personal debt limit to 20k. Then I know I need to take some action to reduce it.

[@druidmechanics]

@@BenjaminCronce I think that a large amount of savings is fine if you probably have many years ahead of you and you're growing your savings, particularly if you're outpacing inflation.

[@sbond7510]

This is essentially what I did. Held onto my stimulus checks and tax refunds. Moved it all into a HYSA during the pandemic. Best financial decision I made. I was fortunate that nothing catastrophic happened and I was able to boost my savings.

[@dark12ain]

Man I wish I could of did that, me and literally everyone I knew had to spend it on bills or paying their bills up as far as they can 😫 how did the investment turn out

[@megan2349]

@@dark12ain Same. Some of us were just struggling to survive.

[@likewaterforcoffee1570]

I used my stimulus to pay off debts. It has helped a lot.

[@jason4275]

Consider yourself luck one medical bill can destroy your saving.

[@PAWKID4LYFE]

This is exactly what I told my cousin to do. She's an essential worker and had her income increase during the pandemic due to wage increases and overtime. I said, you're not used to getting this much money and your expenses haven't changed. Put everything away in an online-only savings so it's not easily accessible and she did that for nearly three years.

[@SeanTalkoff]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.

[@PASCALDAB]

I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.

[@SteveDutton-v]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@PASCALDAB]

Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@SteveDutton-v]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@NoOne-c8t]

I'm an over the road truck driver. I average 2500 take home per week. No bills except my cell phone. I think this is the only way to save money. Having a 9-5 job getting "home" everyday will definitely keep you broke if you're not making at least $30 per hour. The thing I noticed about the workforce is majority of companies just don't pay a liveable wage. That's the American way I guess

[@a-t5380]

What percent do you put in 401k and Roth brother.. I'm still trying to learn

[@NoOne-c8t]

@A-T I've never been a fan of 401k's. I deposit 75% of my earnings into an indexed universal life insurance policy. I'm pretty much my own bank lol. The best tax breaks also

[@da11king]

​@@NoOne-c8t "Indexed universal insurance policy "??? How did you come about that decision 😮🤔?

[@ibewill]

@@da11king Made a bad financial decision when there are better ways to invest and save the stock market would serve you better than some weird life insurance salesman

[@Pokenostalgiastore]

You got a point buddy. I don’t understand or feel any of this “Financial or Inflation” but I do make over $30/hour even bought a Beautiful $55,000 C7 Corvette 2 months ago

[@Evanrholloway]

“Only 17% have exhausted their pandemic savings” is a hell of a way to rephrase “About 1/6th of Americans have lost their savings”

[@lightningblender]

@Simulation K hell yeah. Do you know how much money you can make with it? It’s insane. I mean running the get-rich-quick stories…

[@druidmechanics]

One sixth.

[@ninabeena83]

And that’s assuming that 100% of people even had pandemic savings. So it’s 17% of the (imho) small proportion of people who were able to save consistently and in amounts that actually matter, and then hold onto it for 3 years. A couple stimulus checks does not a healthy savings balance make. A lack of a commute or the inability to go all the places for a few months, same same. Another example of how out of touch these media and financial types are

[@kevinmosser5969]

Another way of saying it is…. 1/5 of people are so bad with money no matter what they are given they will come he’ll or high water spend it asap even if it means burning it in the back yard.

[@gordongekko2781]

Well, they didn't "lose" their savings. They spent it down. Most of it was probably blown on vacationing. Airline ticket sales have exploded post-pandemic.

[@Gracej34]

This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.

[@MarkMilley810]

[@lindholmlille]

@@MarkMilley810 I've come to realise that I can't trust corporations. I suffered greatly from the financial collapse in 2008. I've only been concentrating on investing through a financial adviser since 2019, and it has been paying off. I won't ever return to working for banks full-time.

[@jetkastrokdova]

@@lindholmlille I'm sure the idea of an advisor might sound generic or controversial to a few, but new study by investopedia found that demand for portfolio-advisors sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $400k from an initially stagnant reserve of $150K all within 14months

[@MarthaDavis-fh6cw]

@@jetkastrokdova

[@jetkastrokdova]

@@MarthaDavis-fh6cw credits to "ROSEMARIE AGATHA ALLORA one of the best portfolio manager;s out there. she;s well known, you should look her up

[@truth2power463]

I love it when bankers, investment consultants, and money managers tell the rest of us that we're actually not as bad off as we think. THEY put us in this predicament and then lament about the things WE need to do to get ourselves out of it. Just priceless.

[@albertogonzalez1746]

Your government put you in this spot with democrat spending

[@truth2power463]

@@albertogonzalez1746 LOL! You would have sounded more intelligent if you would have just written "D'uh!" 😆

[@k_kelsey]

Americans generally don’t save money and spend more than they make. It’s as simple as that. Please stop playing the blame game. Grow up.

[@truth2power463]

@@k_kelsey As a researcher, I love it when people with relatively inactive brainwaves criticize salient points of fact without the benefit of ANY aggregate data or even the most rudimentary understanding of the subject. Your ridiculous assertion is that 57% of the population (188M people) simply doesn't save money because they're too busy spending frivolously outside of their means? Save your asinine retorts for those at your own comprehension level.

[@Vospader21]

@@albertogonzalez1746Republicans put us in the spot by slashing our social programs so that they could give tax breaks to their billionaire donors.

[@tatianastarcic]

Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.

[@TinaJames222]

To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.

[@RaymondKeen.]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@Hectorkante]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@RaymondKeen.]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@SandraDave.]

Thank you for this tip. It was easy to find your coach on web. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@Koreanyeezus]

High interest rates, junk fees, inflation and the list goes on and on.

[@alexxthegreatest8134]

This video honestly could've been a flashcard with the reason why everyone is broke lol

[@jojoaja6106]

Because of stupidness following trends and media propaganda, high interest rate is good for the savers😅

[@Antony..24]

Car insurance is just another ponzi scheme! Add up the last few years you've paid and you will see thousands have went to them for what?

[@acaicadunkley792]

@@jojoaja6106 High interest rate on mortgages, credit cards, etc are not

[@charlesiniesta1]

​@Acaica Dunkley take advantage of the high interest to save so you buy a house when interest go down, but remember when interest go down house prices will probably go up

[@Natalieneptune469]

Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further

[@VeronicaOlivers]

The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo

[@BenjaminMcLeod815]

This year has been a whirlwind for me. I've been able to get a great new job where I'm making more money. A question, how are you able to achieve all that given that the market has being a mess most of the year?

[@Natalieneptune469]

I've raised over $550k since 2018. Just bought my 3rd property for rental. Credit to Deborah Jean Dykstra my Brokerage-Advisor

[@claireNymans]

Working with an FA will help put you through on your wealth-building journey if you're just starting out is a wonderful way to get started and that's how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your fin goal

[@BenjaminMcLeod815]

Out of curiosity, I Looked up Deborah and her webpage popped up immediately, interesting stuff so far, i left her a mail, i'm hoping she responds soon

[@jibrilamvs]

School doesn’t teach anything about budgeting or finances. That’s part of the problem; we need to get experience in this early so we don’t destroy our finances the hard way.

[@yongchen4158]

Financial education good idea

[@samsonsoturian6013]

They literally do. Maybe not as much as they should, but that doesn't matter since most people ignore those lessons just like we ignore those healthy living lessons.

[@diantem8235]

@@samsonsoturian6013 they also “literally” do indirectly. Enough to a point of concern. I took an economics class and ironically, financial literacy wasn’t taught too well.

[@samsonsoturian6013]

@@diantem8235 This goon equates "finance literacy" with "actually bothers to budget themselves."

[@jason4275]

The only thing school teaches you is that you need to go to college, and don't worry about paying for it, just get a loan

[@colehowe]

Rent.. would love to see more development in the affordable income housing sector!

[@blipblop92]

Zoning issues, city doesnt allow for more housing or some stupid rules they make up to prevent builders from building

[@benc6503]

As much as I'd love to see that too, it's far easier said than done. NIMBYism is probably the biggest roadblock to this. Taken to the extreme, you have places like San Francisco where being homeless and working full-time is pretty common (nationwide, about 1/3 of homeless work a full-time job). Or, you might have a place like the Hamptons in Long Island, where there's very little in the way of retail and service businesses in the east part of the island, and getting any kind of skilled labor (electricians, plumbers, etc.) to visit out there will cost an insane amount of money, because they can't have their depots and offices nearby. It also doesn't help that phrases like "affordable" or "subsidized" carry negative connotations, some of it justified, some of it not.

[@aenews132]

You can blame the the government for that

[@randomstuff-qu7sh]

@@benc6503 Very true. "Affordable" and "subsidized" imply that *gasp* poor people will be moving in! Poverty is associated with crime, so people fear that not only will it damage property values, but it will also increase crime in the neighborhood.

[@eksbocks9438]

I had a landlord once. Who set the price of rent to $400/month. The reason why is because he already owned the property. And it was paid-off. No mortgage. I personally think that loans shouldn't be involved when addressing a housing problem. The buildings should be efficient, and built to last. I also believe that there is such a thing as too much Property Taxes. It's necessary, but there's a limit. In addition, there should also be a limit to how much a person can charge for rent.

[@ashleykbarks]

High interest rates, the transition to mostly credit cards instead of cash, junk fees, high housing costs, corporations giving CEOs exorbitant amounts of money compared to the people who are actually doing the work just for them to be a figurehead for pizza parties. There's a lot.

[@alexnoor7689]

You sound like red bas tar ds in St. Petersburg in 1905. Do you want to go through that 70 years shi/ personally?

[@diantem8235]

@@Apache1970 that ignores the housing costs. Especially if that includes rent.

[@Apache1970]

@@diantem8235 That's a problem with no solution at least in short to medium term. In such a case, save some money every month for owning your own property and rent it out while you are still working. Those with inheritance from parents are lucky here.

[@dynamichunter843]

90% of it is lack of wage growth and high cost of living increases. That wage growth is shattered by wealth inequality and the need for constant growth within companies, and only focusing on shareholders

[@erichearduga]

Higher interest rates, not high interest rates.... when I had a 13.9% car loan or mortgage rate at 9%+ that was high interest rates, it was great to see 6% and 7%.. Now we are just about at the historical average for rates. I know after 15 years of below average rates propping up growth they seem high.

[@FFLorex]

I get such GREAT service every time I go to the *VRI TOKEN* and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!

[@laszlolee]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $480,000 savings vanish after putting in so much effort to accumulate them for my retirement.

[@Aaronduckstein49]

@@MarieCalascione- How can I contact your Asset-coach as my portfolio is dwindling?

[@Aaronduckstein49]

@@MarieCalascione- I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her.

[@fahey5719]

Scam video. It baits desperate people, then a magical "financial advisor" is suggested.

[@angelachanelhuang1651]

it seems graduate school answers the salary mystery

[@darkday979]

Guys I'm part of the 17%! Woot. Let's be real, most people are barely getting by.

[@Sheil-hard]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[@bob.weaver72]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[@lipglosskitten2610]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@hermanramos7092]

@@lipglosskitten2610 Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

[@lipglosskitten2610]

@@hermanramos7092 My advisor is "Catherine Morrison Evans". In terms of portfolio diversity, she's a genius. You can look her name up on the internet and verify her yourself. she has years of financial market experience plus she is also FINRA & SEC verifiable.

[@hermanramos7092]

@@lipglosskitten2610 She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@chapelknight951]

I've slowly using all the money I saved up in 2020. In 2020, I worked 4 to 6 12-hour shifts a week and saved $20K. I don't miss it lol, but I'm saving with less hours

[@604h22a]

Damn that’s weak sauce, 40 hours to me means it’s Wednesday

[@busterbiloxi3833]

@Azuri e What's stopping you?

[@busterbiloxi3833]

@Azuri e From working 12-hour shifts.

[@busterbiloxi3833]

@Azuri e Then work for yourself, instead of a boss. Be your own boss. Be independent. Be an American! Or are you from Azerbaijan?

[@busterbiloxi3833]

@Azuri e You are still complaining. Get over yourself and stop blaming "society" for your problems!

[@lawerencemiller9720]

I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money?

[@alexyoung3126]

Thats when you hire someone to manage your money. You need a (CFP) straight up! personally, I would invest in ETF's and also love investing in individual stocks.

[@jessicamoore3093]

Your advisor must be really good, how I can get in touch with them as my porfolio isnt doing well.

[@jessicamoore3093]

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.

[@mangodiet801]

The stock market is a Casino where the house always wins - and these financial institutions, hedge funds produce nothing but earn from playing with your money, plus it's not FDIC insured, pricy at all time highs, better off with a High Yield Savings Account, CD, or (TIPS). Slow and steady wins the race, pay off your debts.

[@jackzhu434]

​@mangodiet801 why not just buy sp500 index ETF.

[@Jennapeters144]

inflation remains well above the Fed’s 2% target. Some of the top commentators in the markets, business and economics have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.

[@AanyaDarika_]

Stocks are rallying but I know better, macro shows the economy is yet to recover. I been holding stocks to sell at a profit at this time but it is looking like a bull market the rest of 2023. I am in a fight to hold or to sell. I’m up to 297 grand from a low of 250 thousand last year.

[@AnkurYo]

The market has been a turmoil since covid, the brief relief rallied for only a year and now the devastating effects of pumping trillions into the economy is here and will be for a while.

[@benalfredo]

Stay in the mrkt and sell only if you need those funds. I got laid off and it has been difficult getting another source of income, glad I was investing when I did and of course with guidannce from a wealth-manager don’t listen to naysayers. I am making bank and the penalties for drawing from 401k to reinvest are nothing compared to the amount of wealth I now possess with my family.

[@Muller_Andr]

@@benalfredo I have seen a lot about FAs and actually want to consult some pro. How did you go about it? Is yours any good?

[@benalfredo]

I have saved myself from all the hassle that the chaotic market causes. These days the best way to come into the market space is seeking guidance, due to side hustles i can’t handle my portfolio so i just work with LOREN LENA WALKER, a FA i came across via a recommendation from one of these KZbin retirement coaches. It’s been smooth since then. Cliche as it may I have made a mark up of 70% in profits investing 350k under her. It helps not to be worried about your portfolio every minute of the day.

[@Asagarew]

Thank you for being there *VRI TOKEN* when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.

[@jamescryptoguru-md9nv]

For the first time in decades, america is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.

[@ErikBotheimLindtheim]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@MiguelLopes-fi6fz]

@@ErikBotheimLindtheim very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisorr, you can be passively involved with the aid of a professional.

[@ArthurWeghorst]

@@MiguelLopes-fi6fz wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.

[@MiguelLopes-fi6fz]

@@ArthurWeghorst SOFIA ERAILDA SEMA

[@MiguelLopes-fi6fz]

That's my licensed Financial advisor you can easily look her up, Thank me later!

[@randomstuff-qu7sh]

The primary reason, in my opinion, for savings going down is because the cost of living has skyrocketed due to inflation and price gouging (Corporations claim they have to raise prices because their expenses are higher, but they also are reporting record profits. Seems to me that inflation is an excuse to see just how much price gouging they can get away with.) without wages keeping up. The excuse for not paying more is they believe the inflation is temporary, and giving a pay raise for something temporary would be bad for morale when they take it back (pay cuts) or fire people later to make up for the increased cost. Thing is, they already are doing that (just look at the layoffs in the tech sector), so it strikes me as an excuse to screw people over. Also, I notice that the Fed almost always makes their decisions to benefit supply side while punishing demand. That's great for those who are already rich, since they own the supply side. The rest of us though...it feels like we pay the price for just about every economic ailment, even though we're not the ones causing the issues in the first place. People are running out of money to spare though. Maybe its time to make the supply side pay their fair share. Long as we're dreaming, how about laws to ensure that corporations pay a living wage. Its absolutely ridiculous that so many people have to work 2 full time jobs and still struggle to pay the bills.

[@LostMySauce]

Is it your opinion if it's a fact?

[@Acteaon]

Yea! That’s just not an opinion.

[@africarib]

1000% spot on

[@RM-jb2bv]

You have no idea what you are talking about. People have gotten so mind numbingly stupid (see your comment) and that’s why nobody has any money and inflation is running away . It’s actually just getting started.

[@RM-jb2bv]

@@LostMySauce This person has no clue what they are talking about. NONE. You wonder why the country is in the shape that it’s in. It’s bc stupidity and ignorance are the REAL pandemic.

[@emirhanyuceldi7855]

I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *VRI TOKEN* , Love the knowledge keep it up

[@kaylamorgan7308]

I didn't get stimulus checks back in 2020, but it makes me feel better about my struggles now to realize I'm not the only one going through this.

[@aethro]

just FYI, you can still get those through your tax return, it gets paid out as part of your return, or used as a tax credit

[@kistelkistel]

I'm still mad I didn't get the unemployment that I was entitled to

[@xparadoxicallyx]

Welcome aboard to the rather large boat.

[@kesayo]

My friend's wife got a stimulus check even though she made 100k and he made 400k that year. That's how stupid that was. They blew it on an expensive night out.

[@kaylamorgan7308]

@@aethro I was still a dependent for my parents taxes at the time.

[@timshipp1145]

I've never been a big spender. My parents taught me to save first, spend later. Retired now at 61 and have zero debt. Thanks mom and dad.

[@mikesteelheart]

Yeah your success has nothing to do with timing, right just being frugal? Try being a young person starting out nowadays with those exact same habits vs 1978 and see how far it gets you.... How much were homes back in 1988 when you bought yours adjusted for inflation vs now?

[@SomeBotOfficial]

@@mikesteelheart Don't blame the person living, blame the ones in power.

[@FineNaturalHairROCKS]

This is the number one thing to do. Save first, spend later. I wish more people would practice this.

[@lexluong8155]

@@mikesteelheart they retired at 61. If your working that long you deserve a retirement. If you can't retire in your 60s your doing something wrong. Frugal living and saving is important.

[@bhnurse16]

​@@FineNaturalHairROCKS I make good money as a nurse but I can't imagine spending a majority of my paychecks on just stuff. I love to save and make sure I budgeted for the fun things I want to do. I wish we learned more about finances in school!

[@MH_Bikes]

Just say no. Cancel subscriptions, don't buy new items. Those who can't get a grip on their finances will get a real lesson in a few months. I like her plan and budgeting. ✔️

[@innocentrage1]

Hard to just say no when you need heat and water. Most of my budget is spent on utility, phone and internet bill. 500 bucks out the door just on that

[@MH_Bikes]

@@innocentrage1 All of those items are necessary today.

One of the fundamental principles I have learned is to "pay yourself first." Since I receive my salary bi-weekly, I have automated a 10% deduction from my first paycheck. By doing so, I don't even see the money, and therefore, I don't spend it. After a few cycles, I have adjusted my spending habits to accommodate the lesser amount.

[@a-t5380]

Agreed always pay yourself first

[@HerHealthyHome]

Start taking another 5 to 10 for investing. That's really going to help you in the future

[@algoflush1430]

4 reasons why you can't save money. 1 Car loan debt. 2 Credit card debt. 3 student loan debt. 4 Home loan debt. Payoff your debts and suddenly you have money to save and invest.

[@cmorris9494]

If only that was easy. Especially if emergencies require a credit card. Like a $5000 repair in your house that the insurance company goes that's your problem.

[@KailuaChick]

Amen. I have so many friends making great salaries with tons of student loan debt who continue to purchase a new car every couple years, go on tons of vacations, buy homes they can’t really afford. Cut back on spending hardcore for a couple years, pay more than the minimums, and pay off your debts.

[@busterbiloxi3833]

Well-said. Correct!

[@jeretso]

People are upgrading to bigger vehicles then they complain about rent prices and student loans. Do we really need lifted 4WD where it rarely snows and so many people can work from home?

[@lynnmckenney1987]

If only it was that easy. You forgot the biggest ones...unplanned medical debt and inflation (While wages don't rise to match) over the last few decades.

[@poppadiddypuffio440]

Well, sad that I'm in that 17% category of people that burned through all of their savings. Even worse, since I got divorced during the pandemic, i'm worth less now than I was prepandemic.

[@brianfalgiano5638]

I don't believe that 17% stat for a second. The majority of the stimulus money actually went to businesses, state and local governments, health care, etc. Only $1.8T reasonably made it's way into household pockets. These stats here are just so wrong. I refuse to believe that Americans are adding on an incredible amount of consumer debt if they still hold enough savings to completely pay it all off.

[@jeffmiller9798]

@@brianfalgiano5638 you are so correct, stats are Way way off. Just more feel good reporting from CNBC...

[@johnny2003]

You may be worth less. But you’re not worthless!

[@RoniPastrami]

Getting divorced probably added years to your life!

[@CDN1975]

Don't believe that 17% stat. Stats lie.

[@StraightUpRainbows]

According to the Kobeissi Letter, 36% of Americans have more credit card debt than savings. Over 1 in 3 Americans are in debt, rather than accumulating savings. That, is absolutely terrifying to think about.

[@JenX422]

Hard to save on one income with real inflation 20% year over year two years straight.. means you needed a 50% increase in wage since 2021 to break even. I don't know one person that got a 50% raise.. even if promoted.

[@mysterybuyer3738]

Not really because debt is a tool and most of it is unsecured anyway so if people are smart and have huge debts they can just walk away.

[@elgatomoscato230]

Life's good for the other 2 then

[@mysterybuyer3738]

@donk8105 I would have stopped paying on them long ago. Heck I probably would not have made any payment at all.

[@kathys1285]

If they were smart like me and my husband we PAID ALL the CREDIT CARDS when got the stimulus checks so when everything went back to normal we did it debt free clean slate

[@csick11]

Younger people benefited from inflation because of the higher wages. That's only if they are living with parents. If you are sole responsible for monthly upkeeps . Your interest rates and household needs had set you back. My spending habits has decreased dramatically but my savings have disappeared. Lord have mercy

[@donaldlyons17]

Or those with duel income because they tend to do better than single income earners making 1/2 the amount.

[@Investormillard]

Yes try being forced by family & startup to live in area with $300k annual average income & $1 million starter homes😊

[@peeudo]

I think you mean “dual vs duel .”

[@muharremgumus4382]

Thank you for the update *VRI TOKEN* is done right, and waiting is part of the process,

[@denisech3351]

Here are some of the reason why people in USA save so little: 1.) Lack of financial literacy 2.) Living above your means 3.) Difficulty in delaying gratification and living below your means 4.) Believing consumerism will make you happy 5.) Lack of long term financial goals and planning 6.) Current inflation is eroding buying power 7.) Lack of affordable healthcare, schooling and housing The entire value system in the USA appears to be geared towards keeping people in debt and spending more than they earn to impress people they don’t even like. On top of that healthcare is very pricey and not good, schooling and housing are also very expensive. How can a person do better? By taking accountability and being self-aware. Having the newest car, the most recent IPhone and a home you can’t afford does not bring long-term happiness. People need to shift their mindset and believes and be willing to educate themselves financially and make changes to their spending and investing habits. It would also help if we all demanded better labor laws,affordable healthcare and schooling.

[@ninabeena83]

You forgot stagnant wages. How much is someone making $20 or less an hour really able to put away for savings? And how many of those people are in this country? (a lot)

[@Trignama1]

@@ninabeena83 again, that still comes down to living above your means. Make 20 an hour, but I bet you still have a smart phone with a unlimited data plan, when all you really need is a call / text plan, or I bet starbucks is part of a daily routine, maybe own their own car instead of using public transport, or live on their own instead of sucking it up and accepting life with room mates to cut down on your cost of living. Always options, even for low income. I made 12 dollars an hour after I got out of the military and supported my wife, son and me on it back in 2009. I worked 70+ hours a week to do it, wasn't in the most ideal living conditions, but I made it work, and still managed to save. Swallow that pride, and work to improve.

[@briannerk3373]

@@Trignama1 Meanwhile, the top 1% hoard around 46 trillion dollars of wealth. So let's continue to put the moralizing pressure on the middle class

[@emperorjj1]

@@Trignama1 just because it worked for you doesn't mean everyone has that luxury. while its a bit different its similar to saying just because Obama was elected president racism is no longer an obstacle. Certain "luxuries" aren't quite luxuries anymore. a smart phone can be obtained cheaply and unlimited data plans are the only option offered by ATT, verizon and T-mobile. I'm sure some of the smaller carriers may offer other plans but not the big 3.

[@ivyvanderwall]

My family and I are a family of 3. We don’t have the newest car, we haven’t updated our phones in 5+ years, and we don’t own a home, we rent. We rarely ever go out to eat, we don’t ever do anything extra such as theme parks, vacations, or anything of that sort. I will say I have done some shopping, but mainly for clothes for myself and my baby. What accountability do you suggest we take so that we don’t continue to struggle with money like we have for the last 2+ years? Sometimes it has NOTHING to do with being “accountable” or recklessly spending.

[@kineticstar]

Banks haven't changed the % on savings accounts. They are paying .01-.02% of a percentage of a penny on the dollar. So, there is no incentive on savings. They are making a profit by not moving the percentage on savings and increases borrowing APRs percentage for loans and credit cards. Banks are supposed to be regulated but are in fact dealing with a loaded deck with the politicians and our money in their pockets.

[@djpuplex]

SoFi, Ally and Marcus all pay >3.5%

[@karlee8608]

Dont put a lot of cash in banks. Just enough for emergency usage. You should be investing in great quality company and buying real estate.

[@djpuplex]

@@karlee8608 I churn bank accounts for sign up bonuses made $20k in bonuses over the past 2.5 years. Opened 73 banks/brokerage. Banks frequently offer savings account sign up bonuses as well. I invest 15% of income into Roth 401k.

[@karlee8608]

@@djpuplex yes sir. People need to take advantage of these bonuses and then just go invest in great companies.

[@14534]

There’s no conspiracy. They’re taking advantage of ill-informed and lazy people to finance their business on the cheap. You don’t like being taken advantage of? It’s not hard to open a high yield savings account or invest in money markets dude.

[@kito1san]

It's not hard. The real question is why it's so hard not spending money. Once you answer that then you can start saving.

[@callicordova4066]

Amen.

[@innocentrage1]

Some people like having water... utility bills keep going up along with food. We ain't buying Rolex watches over here

[@Matt-hl5vm]

@@innocentrage1 agreed. I love how people look down on the poor as if they’re just constant mistake makers. Switch the $100k earners with the $30k earners for a year. See how easy they find it to save then. If you aren’t earning enough, with the cost of everything skyrocketing, of course there is no room to save. I love everyone talking about “diversifying portfolios.” Some people are like, “I’m just hoping I can afford rent, water, food and gas this month.” Economic downturns always hurt those at the bottom the most because they can afford the least amount of destabilization. If you jack their rent up $500 a month, gas up $2 a gallon, food bill up $60, etc. they can’t exactly go to their employer and say, “OK pay me $700 more a month.” And these are good, honest, hard-working people who work 40+ hours a week trying to support themselves and their families.

[@christinal3041]

Very true 👍

[@theanimaster]

Warhammer player here.

[@CristianHulbert]

Certainly! I understand that living expenses and taxes can take up a significant portion of one's income in the UK, which can limit how far that income can go. Even 100k doesn't get you very far. So, what do you believe defines a person as being 'rich'? Is it simply being able to live comfortably above the standard and being financially secure, or does it also include having the ability to pursue expensive hobbies and travel frequently?

[@RachelBrinkmeier]

@GarrettDills I would consider myself wealthy if you had a clear plan for how to distribute my life savings of around $5 million, which could generate a 5% dividend of $250k per year. That’s enough money to spend, donate to charity, invest, and reinvest. However, I’m having difficulty taking the necessary steps to make this happen.

[@ThormanBoucher]

@@RachelBrinkmeier It's difficult to give a definitive answer on this topic since it depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an investment-advisor. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape

[@AveryFetherolf]

@@ThormanBoucher Would you mind sharing the contact information of your investment advisor? or suggest any? I’m in dire need for one

[@ThormanBoucher]

@@AveryFetherolf My advisor is “LISA ELLEN SHAW". Her investment firm offer a range of services to help you achieve your financial goals. You can research and compare her services online, or contact her directly to learn more.

[@velayuthman]

@@ThormanBoucher I curiously looked up her name on the internet and I found her site, thanks for sharing.

[@alperenerdem3920]

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *VRI TOKEN* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

[@bonniegaither3994]

Not to mention the fact that people were selling their homes and having a lot more money to downsize and move wherever they wanted since they could remote work. I’m sure that added to the savings as well.

[@connor_flanigan]

people who 60 years ago would have lived in a 900 sq ft house and driven a car with no radio and no gas gauge (forget A/C,) now think they have a god given right to live in a 6,000 sq ft house and drive a $90k monster truck with leather seats and 3 sunroofs.

[@WaveLord14]

Damn, cars had no gas gage back then?

[@connor_flanigan]

@@WaveLord14 on a lot of the old VW bugs, a gas gauge, AM radio and back up lights were optional. some cars didn't even have a heater - that was optional too. LOL

[@djm2189]

Yup! They over consume and keep prices up even though they can't afford and are 1 paycheck away from losing it all. I grew up poor, now I'm 28, earn $112k+, no debt, and $50k straight cash. Yet i feel poorer since everyone overspends and I'm a bit frugal. Either that or everyone makes over 100k cuz they spend like they do...

[@ronkirk5099]

I'm glad to finally be seeing some interest earned on my savings. It helps offset some of the inflation.

[@RM-jb2bv]

“Offset inflation” ultimately means you are losing money. The REAL CPI is probably 10-15% rise and Fed funds rate is at 6% while bank interest is 1% if you’re lucky. If you had money in the bank for the last 2 , that money LOST ~ 15% of its purchasing power. You’re getting poorer thanks to massive goverment and thr Fed

[@drscopeify]

​@@RM-jb2bv It takes time to shift from low rates and low inflation up and for banks to re-organize to offer higher returns but why not just buy treasuries? They had like 5% returns and the awesome I-Bonds are like what? 7%? maybe more just free money really. You are limited to $10,000 for I Bonds but I took all of it of course.

[@ibewill]

@@RM-jb2bv Lazy take

[@Americancowboy147]

Things aren’t looking good stock market, banking system and transportation industry , a number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.

[@RussellBarker1962]

VRI TOKEN 🚀🚀🚀🚀🚀

[@jfausset]

The answer to why it’s so hard to save is directly related to the cost of housing. We need the Fed to sell their MBS on balance sheet. We need HUD to block any purchases of single family home purchases by anyone other than someone who lives in it.

[@ZePopTart]

I agree. Housing is a scarce resource and home ownership is critical to a healthy middle class. There are plenty of other ways for rich people to make money.

[@tindrums]

​@@ZePopTartgood fir current renters but terrible for future becsuse new construction will stop.

[@TK-gd9td]

@@tindrums builders can’t make money without home flippers?

[@ZePopTart]

@@tindrums yeah what he said. And it’s not just good for renters. It’s good for the general economy when people have stability. It’s good for communities when neighbors don’t move every couple years.

[@米空軍パイロット]

I have an easy solution. You know how you have income tax brackets? Create property tax brackets. Currently, property tax only scales linearly with property value. If you made percentage brackets, landlords who own millions to billions in property would also have to pay a huge percentage on their holdings. This would disincentivize giant property firms from getting so large and may even encourage dense development that reduces urban sprawl.

[@paulbroderick8438]

High schools need to start teaching sound basic personal money management emphasizing the differences between wants and needs!

[@a-t5380]

Honestly.. we have so much free information out there .. even I had to stop blaming my schooling or way I grew up .. we have literally unlimited information in the palms of our hands via a phone... Just because you are out of school doesn't mean you have to stop learning . KZbin has countless content creators teaching financial literacy and savings tips

[@cameron00148]

When I got the first stimulus check back in 2020, that was the first time my savings account had more than a few pennies. Despite me trying my hardest to not touch my savings, it quickly dwindled down to where it was once back at. My job had altered our pay plan to where we get paid on the 8th of every month as opposed to the 3rd of every month. That’s basically asking us hourly employees to go a full week after rent is due to survive. I wanted to do more with my savings, but something would always pop up. Not to mention the stupid IRS has owed me money for years and the triflin HEALTH INSURANCE companies always try to find a way to not cover x,y, and z -___- Despite “mental health” being discussed nowadays, I am currently paying off a $900 bill for seeing my doctor for treatment of my mental health. To be clear, my doctor is not the problem, its the company and the pos health insurance, which is a joke because they decided not to cover my last few visits?? -.-

[@Tessy29k]

It honestly depressing for me to hear that a lot of people in the US never had savings before stimulus checks.

[@afox9000]

I strongly feel that those people with savings are over 45 bc I don't know anyone 30 and under that aren't living check to check.

[@HerHealthyHome]

​@afox9000 my husband and I have savings in 30 he's 33. We've been married 10 years. Him being in the army really helped us, we paid off our only debt which was our truck at a lower interest rate and saved. We got our first house when I was 25. We all have savings but it has started about the same for the last 5 years. Lots of things come up

[@JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson

[@Jayden12934]

Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!

[@KateWilliams-gn5qr]

Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!

[@DongaiTmorten]

Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my portfolio and plan my retirement

[@Jayden12934]

Olivia Sullivan Financials is my portfolio-coach, I found her on CNBC where she was interviewed, I looked up her name on the internet. Fortunately I came across her and reached out to her, you can verify her yourself.

[@Jeremy-i3v8b]

Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can.

[@ukdsg]

Thanks for this tip, her website popped up on the first page immediately I searched her on the Google web. I read through her resume and it seems pretty tight so I dropped her a message hopefully she replies soon.

[@HafezBd]

A rise in portfolio losses this quarter is predicted by a number of indicators, including market falls, skyrocketing inflation, major Fed interest rate rises, and rising treasury yields. How can I make money in the choppy market of today? My million-dollar bond and stock assets are still something I'm considering selling.

[@harod033]

Even in the midst of this whirlwind, there are chances to be had, thus a rise in volatility isn't always a bad thing. You can rebalance your portfolio thanks to volatility. The best course of action is to hire a financial advisor to help you along the way.

[@godof-ou1dw]

As a result, I prefer to let a portfolio coach handle my daily market judgements. Their entire skill set is focused on simultaneously taking long and short positions, taking advantage of risk to benefit from its asymmetric upside, and taking risk out of the picture to protect against the inevitable downward turns. I've been working with a portfolio coach for more than two years, and throughout that time I've made about a million and five hundred and seventy thousand dollars.

[@Igorstravinsky788]

@@godof-ou1dw I'm glad I came across this discussion. Could you please leave your contact information for your investment advisor here? I desperately require one.

[@AustinReid09]

@@godof-ou1dw Since I've been losing a lot of money lately, I contacted ruth and sent her a letter explaining my financial objectives. Thank you for the guidance.

[@lifeinhd4053]

@@godof-ou1dw Is this entire comment thread literally an ad for this person?! JFC, talk about astroturfing.

[@tritonh5683]

It is not hard to save money. America and most of the west can not fathom the idea that they need to live like a poor person from 18-30. If they still hasn’t make it yet, then live the same way from 30-40. For most of us immigrants, poor life in America is 1000 times better than what we used to have back in our country.

[@cutehumor]

Too many entitled people want to live rich. You see it all over social media

[@duttybiggz]

I am a recent immigrant to the USA (8 months) but, my wife has been here for 4 years, and we have no trouble saving money whatsoever. What I see when I look around me is people making a conscious decision in most cases to live beyond their means, treating credit cards as if it is cash, people having the need to live for instant gratification. My wife managed to save over 30K in the 4 years she lived here with our child and making less than 40K a year. America makes it sooooo easy to save money and live comfortably we find it amazing how/why so many Americans struggle and are in perpetual debt.

[@XBarajasX]

They are victims of a very wicked CONSUMISM, is very easy to spend on unnecessary, useless, non-lasting things. A concern could be a medical emergency that could drain your savings beyond insurance

[@duttybiggz]

@@thekaren1111 Wow, you comment actually says more about you than me. 1. You may not know this but moving to the USA "willy-nilly" isn't a thing, it takes years for me to took 4. 2 You assume that English is not my first language - it is; maybe in your world all migrants speak Spanish or some other language and the fact that you equate English to privilege blows my mind. 3. I migrated from a "3rd world" country so sorry to disappoint but I didn't come from privilege. 4 My father-in-law and my other siblings have been here for over 30 years each and they all have net worths over 1 million and cash in bank at least 200k. So I'm afraid I have to disagree with your sentiment completely. I do not believe there is a boogeyman out there forcing you to spend money you do not have. Debt from student loans and illness I get. But debt from discretionary spending is 100% on the individual.

[@chukim8012]

U lying bruh 6:50

[@mikasa1279]

That depends on where you live and what you do? You just assume people are spending beyond their means? How was she able to save, for instance?

[@marlu6373]

@@mikasa1279 and crickets.

[@lindadorman2869]

It took me decades to learn how to save. It is not hard but it takes a lot of discipline and hard work. You have to earn more than you spend, stay out of debt, live frugally on a budget and stop wanting so many things. I had to sell my house, car and nearly everything else, and start my own business to ensure financial security. Americans need to learn debt is not normal, inflation and emergencies are manageable, and spending is based on the life choices you make.

[@tic857]

Same. It took a pandemic to actually learn and get all my numbers in order.

[@richardm7713]

many jobs do not pay enough to save, many adults live with in shared houses, just so multi billion dollar corporations can make record profit after record profit and give away more money to the (already rich) share holders. The USA is a dystopian capitalistic nightmare for tens of millions of americans.

[@David-vm6uj]

You're saving money that the government is printing in their back yards... Oh let us add another $1 trillion... Boom money is created

[@zinKa808]

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *VRI TOKEN* , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

[@jabbaweezy]

This video sparked my interest in finding out how much the average 6 figure earners (100k-999k) save annually. On average it was less than 15 percent. The top 1 percent of all earners were saving between 30%-40% of their annual income. I'm sure the average 6 figure earner is living above their means.

[@2ferone86]

Why it's so hard to save money: If it was easy everyone would be doing it?

[@Okchpod]

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit

[@RussellBarker1962]

VRI TOKEN 🚀🚀🚀🚀🚀

[@iamdjleaky]

A very important message here is that you have to start from somewhere! Took me some time to realize that you just have to build the habit rather than just stating your goal.

[@Cherokie89]

Almost nobody i know has savings. Theyre either scraping by or servicing debt payments.

[@theresistance3818]

...this video had me feeling like I've been living on an entirely different planet for the past 4yrs 😐

[@busterbiloxi3833]

You live in a trailer park.

[@theresistance3818]

@Buster Biloxi @TheKaren ... your comments aren't offensive but your complete lack of socioeconomic awareness is without a doubt repugnant. #StudentLoanTrailerPark 🎓💸 on #PlanetMedicalBillsBillsBills 🌏🏥💸💸💸

[@gardenlifelove9815]

People should be truly taught how money really works

[@coyster67]

I learned everything about money, retirement and investing from the internet and KZbin. If only I realized and used the resources available sooner.

[@nothingmatters3802]

Our politicians don't know how money works, so why does it matter if the average joe doesn't.

[@chuckyyes]

@@coyster67 care to share which videos are the most helpful?

[@kasseen]

It went into inflation

[@doujinflip]

Which besides America's "money printer go brrrr" was at least as much from the massive supply-side disruptions caused by Russia deciding to go forcefully "liberate" Ukraine, as well as China shutting itself down due to the political hyperallergy of Zero-COVID.

[@ferhatdurmus9462]

At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month,It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by *VRI TOKEN* lol, i didn't made it myself

[@da11king]

What is VRI token?

[@nuripeker859]

*VRI TOKEN* IS ahead of the game.

[@jesse7631]

Depending on where you live, if you're making over $100K a year and are living paycheck to paycheck, you're doing something extremely wrong, or have no understanding of how to budget.

[@kevintyson1947]

agreed because I live in a high cost of living city only making $54k yet i have $20k in savings but I know people making $110k and crying how they dont have much to save

[@grizz4321]

I agree, when you look at most people that claim to be living paycheck to paycheck you will find they are living beyond there means by eating out too often or buying things they do not need. These people need to learn to live on less then they make and save the rest.

[@darinherrick9224]

Pandemic savings? I was broke then and I'm in debt now.

[@KevinSmith-qi5yn]

We've been in a recession for a year. The government just lacks the incentive to admit it.

[@jbar_85]

The Teleprompter doesn’t want to admit to it so he can be re-elected.

[@feyzibolat]

I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 732 and I’m still going up with *VRI TOKEN* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.

[@javaghoul]

Same issue in canada, basically zero financial education. Everyone is brainwashed into thinking college is the way to go and your basically sent out into the real world already with thousands if not tens of thousands of dollars in debt. Its crazy, its like the system is designed to start everyone off in horrible financial situations in their early 20s.

[@zenginadam16]

When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss *VRI TOKEN*

[@andrewferrauiolo4618]

People spend their lives in stores instead of with their families. People just spend money on things that they don't even need

[@staticpurge]

I agree! Around me people spend a ton of money on their house and then they seem to hate spending any time there! Always driving around spending money on gas and restaurants and what ever else they are always doing, traffic is even worse on the weekends nowadays.

[@darthvader7380]

Yeah like teslas

[@busterbiloxi3833]

Agreed. Americans are addicted to shopping. They are slaves to TV ads.

[@andrewferrauiolo4618]

@@thekaren1111 That depends on where you live

[@discocycle]

I made a comment about this above! Culturally, we really demand such huge amounts of spending.

[@codelessunlimited7701]

Inflation destroyed most of the savings.

[@818silencer818]

Americas problem is everyone lives on social media. Everyone wants to post what car they drive, what restaurant they’re eating out at, what store they’re shopping at, where they are vacationing at. People are living way beyond their means because they see everyone on instagram doing it. Back in the old days people would try to “keep up with the Joneses” but now people are trying to keep up with all of society which is why credit cards are maxed out and people’s savings are depleted.

[@martinc.720]

"Where did Americans Savings Go?" To the grocery store.

[@cjhoward409]

That’s our biggest expanse

[@santosme2398]

Well, Americans love to eat out. Only few of them cook at home. I have a friend who is housekeeper and she says that the kitchen of American houses is the most clean room in the house. They eat out a lot. 😊

[@marcusbrown188]

When we buy cars like SUVs and trucks it’s because of our ego. Almost everyone doesn’t need them and rarely maximize use. Fast fashion which is cheap clothing marked at high price.

[@LeoSG61]

Live within your means

[@aliciaarroyo6]

I have some savings but cost of everything went crazy! Everything went up. I have no spending money to do fun things anymore. My savings keeps going to basic things I need to survive and support my family. I didn’t get any significant raises during this time and I was better off before the pandemic.

[@gregorypaine513]

Crazy JOES U.S.

[@bmc1222]

Look at how much money corporations made and the amount of consolidation that occurred over the last 30 years. One companies profits is a consumers loss. If investment companies buy rental properties and increase prices, your savings takes a hit since it makes saving harder. There’s a reason why they’re heavily invested in one of the most essential assets we all need, shelter and housing.

[@cupcakeordeath]

I only recently found out a about high-yield savings accounts. BLEW MY MIND! I hope this video brings the good news to more people!

[@noneya154]

The average family spends $300 a month dining out. Even with prices skyrocketing and income stagnating, people are still spending like nothing has changed. An easy way to build your savings back up is to stop giving your money away. Seriously, all of us, me included, spend money on junk we don't really need. Most of us can find something to cut back on to save. Drive less, eat out less, find cheap or free hobbies, get rid of the subscriptions, get on a written budget (I HIGHLY RECOMMEND EVERYDOLLAR AND YNAB FOR THIS) and you will legit change your life. Cut up your credit cards, get afterpay out of your life. Move someplace cheaper if you can. Get a roommate, split housing costs with family members and save the difference or pay down debt. Most Americans would not struggle if they didn't have debt. You CAN be free, but you have to fight for it. You can do it!

[@mikasa1279]

Stop saying "move somewhere cheaper." As for roommates, who the hell wants a roommate past the age of 30? BTW, where is your stat that $300 a month is spent on dining out? Was this from a poll?

[@Investormillard]

I would die & face divorce & never see extended family again if I don’t live in area where income is over $300k & million starter homes!

[@noneya154]

@@mikasa1279 It's a BLS stat, look it up. Why shouldn't I suggest moving somewhere cheaper? The two largest expenses most people have are housing and food. It would make sense to find ways to lower these two expenses if someone is struggling financially. I personally lowered my housing expenses by 50% simply by moving 35 minutes outside of town. As for the roommate bit, you don't always get to do what you want. Anyone over 30 should know that.

[@noneya154]

@@Investormillard That's dramatic but ok.

[@mikasa1279]

@@noneya154 But EVERYWHERE is getting more expensive; many jobs are located within urban centres; many people are close to family and friends in major urban centres. That's why. Also, when people move to cheaper areas, it pushes the locals out.

[@JohnSkyLey]

We've been in a recession this whole time. We're in it right now!

[@chukim8012]

Been in an American recession for the past 10 yrs myself 😅

[@chrisaycock5965]

Housing prices exploded.. along with rent since a lot of people could no longer afford to buy a home and got dumped in the rental market. On top of that evictions had to or have to catch up depending where you live catch up.

[@samsonsoturian6013]

They literally didn't. Your info isn't just inaccurate it is over a year outdated

[@chrisaycock5965]

@@samsonsoturian6013 I agree kindly to disagree but I may live in a different market than you do since I'm in California.

[@samsonsoturian6013]

@@chrisaycock5965 Dude, I don't know what hyper-specific neighborhood you're referrencing, but even if you're telling the truth this is not the norm

[@chrisaycock5965]

@@samsonsoturian6013 It's longer winded that I can explain within comments here. But I used to be a loan officer. There are a multitude of factors contributing to this overall though. I'd need to write a small paper if I were to do so.

[@samsonsoturian6013]

@@chrisaycock5965 Dude, I'm starting to think you may be talking about pre-2008 housing prices.

[@chi_city1785]

It's hard to save money bc corprate greed is out of control.

[@benmustafa4101]

Happy to see some greens again. The last few days have restored my faith in crypto and made me believe we aren't down and out yet. Already started making some of the significant buys I've been planning for sometime now. Over the last few hours I've bought myself a good amount of *VRI TOKEN* , one of the tokens I'm really bullish on. because of it's potential and high utility.

[@mehmeterdal2230]

I am a longtime user of your investment software program. It is a very useful bit of software, and saves me tons of time at tax time each year. Thanks for the great support over the years, keep this good thing going, *VRI TOKEN* is amazing hands down the best.

[@RichardAmesMusic]

Unless you’re earning millions a year, returns on non-retirement savings have almost no effect on wealth creation. Focus on limiting your costs and you’ll build wealth much more quickly.

[@javaghoul]

Exactly, but also once youve accumulated some wealth investing in somthing is important too if you hope to make any big leaps in the future. Live frugal and well within your means.

[@injanhoi1]

Same thoughts. In my words. Looks like you've got to hold on to what you can, limit spending, except on things you have to and then build up some savings. Most importantly invest that accummulated savings.

[@ibewill]

It's not about wealth creation, it's about having a solid savings to cover anything that can come up

[@douglasa.5039]

High inflation rate is the number one culprit. It devastates our 401k and retirement accounts. Banks are paying a pathetic 0.01% on money you have in a savings account. Even if you got a substantial raise in pay with the elevated inflation rate it would be diminished because goods and services would be more expensive too. The Fed target rate for inflation is 2% we are at 5% now. Still a long way to go to reduce inflation.

[@Luckoftheirish1]

Shop around for savings accounts. I get 4.30% on mine at wealfront.

[@douglasa.5039]

@@Luckoftheirish1 Very Good information Thank You.

[@gordongekko2781]

Let's be real. Most Americans would rather pay $7 for a cup of coffee or put an international vacation on their credit card, than save for retirement. And I for one will not entertain their whining and crying when they are still working paycheck-to-paycheck in their 60's.

[@enesalaca8490]

Interesting consideration, have to consider digital land probably won't function like physical land obviously but I see application. The issue right now is no one can foresee where this space is heading. Metaverse is an obvious choice in purchasing land as it's backed by FB but when I bought my VR headset a lot of people didn't want to have any association with FB like having to create an account to access their VR profile. I think if fears of future pandemics persist people will be more willing to stay home and interact on VR for shopping and social events, not to mention viewing events in other countries without the costs of flying, etc. There's a lot of potential and opportunity to integrate with cryptocurrency when you deal with the right source like *VRI TOKEN* but there's probably a long way until a platform exists for it.

[@safety_sid]

Important Note on High Yield Savings Account: The reason that it's high yield in comparison to a traditional savings account is that your withdrawal rate is restricted. This is so the bank can invest or loan a higher percentage of your savings to get you that "High Yield" and so they can make a little on the top. So if you have a true emergency and need lets say ... 75% of your savings account that day. You won't be able to get it. What you can do I guess is borrow against that account as collateral ... not ideal but would work in a serious emergency.

[@stop08it]

You could just open a checking account in the same bank to quickly transfer money and pay directly from. It would be even “safer” to just charge to a card and have more time to pay off the charge with the EF savings. You have to know you can cover the amount t though

[@zeldaluver64]

the funniest thing is, the people who didn't get any stimulus checks in 2020 (aka, college kids that were 18 or older but still claimed as a dependent), are also the same people that are graduating and trying to look for jobs in worst job market in over a decade. lmao we're hella screwed

[@DH-en4th]

Independent contractors didn’t get checks either. A lot of people worked through the pandemic and made less than those at home.

[@nerdstrangler4804]

Worst job market in over a decade? This is arguably the best job market since the 1950s, there is currently a massive labor shortage. I understand you are fresh out of college so you don't really have any frame of reference. But I got bad news, this is probably the best job market you will see in your lifetime.

[@TheRockroll2]

​@@nerdstrangler4804 I'm pretty sure they're referring to 2008. And no it isn't dingus.

[@rcdriver107]

Our society makes us spend all of our money and borrow tons of money recklessly to the point of no going back!! But being given the opportunity to make a good, solid living is terribly and extremely rare!! We all should be ashamed and embarrassed to the fullest extent possible!! This is the RIGHT THING TO BE EXTREMELY EMBARRASSED ABOUT!!!

[@darleneatkinson3906]

RCDiver10, I read your comment, I use to spent and go deep into debt myself, then I ask myself why am I doing this? I found out it was my personal thinking not the world not companies it was my incorrect thinking, so I had to adjust how I thought about what I was buying and why was I buying it? Life is fill with choices, now just like everyone I was born naked no money no cloth a Bady I grew up on farm and watch people what do they do is it worth following or should I avoid what they are doing? I know and lifetime rethinking how one thinks. I can only live my life but that is it each must decide what is your reasoning why you do what you do. I used to think something or someone will fix my life, but I finally grasp it I am the only one who can change me nobody else can do my life but me. I grew up away from people on a big farm. We all have different cultures how we are raised in the end it is up to each of us to decide our way of living our lives. Relationships, jobs, lifestyle, money or finances all require deciding for us. Hope you can enjoy your life journey.

[@poindextersheelturn436]

@Azuri e Yeah, Gucci has gun to their head.

[@leah9150]

​@@darleneatkinson3906 I agree with what you are saying but I can also agree with the original commenter. In a capitalist society, the way a product gets to consumers' pockets is through heavy manipulation and sales tactics. It's like biological warfare. Fast food for example is made to be addictive to the human brain. It's not as easy to stay away from addictive products as it was in the past.. just saying.

[@jeremyridge1332]

Not me, I have 6 months of living expenses put away for emergencies.😁 Living below my means and staying committed to a budget every month, helps.

[@asavannah7439]

Exactly, I agree 100%. There’s so many ways to spend less. There’s a lot of frugal KZbin channels which are very inspirational

[@SevenFortyOne]

We all have to do a better job at living below our means and not borrowing money. This won't entirely solve the problem for everyone but it won't hurt the situation.

[@waynethompson1115]

Ive never really been in debt except for the house and that didnt last long. Most of the stimulus checks i banked. During the pandemic, my company increased wages by 25% for a short time. Banked that. Sold a house in CA moved to a cheaper state. Used that money for new house and paid the kids college. I keep my vehicles for a minimum of 10 years while i save for the next one. Not borrowing money means the things i buy i dont pay intrest for.

[@steadystackin7250]

People tend to spend what they have regardless of how expensive things are. Yes, costs are high but even if they weren't people would not save substantially more than they are now.

[@economicdevelopmentplannin8715]

Gotta payoff any debt ASAP. No mortgages ideally. Then after property taxes utilities and groceries, buying dividends.

[@1too3fore]

That's why they're broke. They spend. Flex culture is killing people. It's just a new way of saying "keeping up with the Joneses". Racking up debt just to look good is foolish.

[@libertarian4323]

Some people spend. But ~8% of Americans are millionaires. Most millionaires became millionaires because they are frugal af.

[@mikeshafer]

I'm currently getting 4.3% on Wealthfront and I'm shocked that some banks are still offering 0.5% or whatever. So many people are just leaving money on the table.

[@Luckoftheirish1]

I opened a checking and savings account for my 15 year old daughter because she just started to work part time. The savings rate was 0% at chase! So I moved all of her savings into wealthfront.

[@dj_bae]

If you invite a friend to open up a Wealthfront account, they boost your rate to 4.8% for a certain length of time

[@RM-jb2bv]

What do you think happens when everyone pulls their savings out of the bank and puts it in money markets instead? People will be eating their pets within 6 months

[@tokyojon4344]

I'm with Americans Express High Interest savings acct. Pretty much the same as Wealthfront. Last I check, it's 3.75%.

[@calgreco8607]

I'm with Citizens at 4.25%

[@valeriephd]

Economy gonna be in shock when I take all my savings account I've been saving up the whole pandemic and put it in to pay off my student loans when those are back in play 💀

[@neonnoir9692]

With high interest rates, my savings generate about $100 a month. That compound interest is 🔥

[@dtr579]

Yep, me too. My savings in HYSA gives me $315.00 per Month, and growing. It's one of the few places where can earn a little money right now.

[@johnlennon232]

My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.