Make sure to Subscribe and hit the Notification bell to this channel for more videos just like this one to improve your financial literacy!

I love that you don’t do an intro, you just get right into it. Never change, my friend!

Just celebrated my 70th and am fine tuning my game. It is making all the difference. It truly is never too late to start. Thank you for being here. The more I fine tune my game, the better my returns, the more I want to fine tune my game. I'm having a blast, and then again have good income. Guess I'm one of those high income earners who has always wondered where all the money went by the end of the month. I'm finally learning and making much better choices. Thank you again for being here.

Man do i wish i watched more finance videos when i was younger. I was making good money, thinking it'll never end and well it ended and i spent every dollar partying. Do i regret it? No cause you can't be stuck in the past but it would be nice having my own house right now

Thanks for your videos Humps, I really enjoy learning new things, and it feels reassuring to know that by doing the little baby steps toward stability we have a good outlook instead of worrying about not making a bunch of zeros right now, that would be nice though

I really liked the idea "it's never too late to start investing". Many people think so. I just simply don't like when people put limits "you're too old for this".

@humphrey

7 ай бұрын

yes exactly

@GibbsTruth

6 ай бұрын

Honest 💯

@InfinityDz

4 ай бұрын

I mean looking at 6:39 it's difficult to not cry that you didn't start earlier

Solid advice my friend. That's why I am subscribed to your channel 👍. Work on yourself, your health, your career, your personal relationships with your loved ones, be responsible with your money, use your money as a tool to achieve goals that are priceless 👍

I really appreciate your insights and knowledge. I thoroughly enjoy your channel. Thank you.

I am on a (fairly successful) mission to get all of my friends' teenaged kids to start investing. I'm in Canada, so I am encouraging the immediate use of the TFSA we have here. It's a no-brainer for any kid 19 years or older. And, like fitness and finding love, one is never too old to save a little money. I was a fitness coach for years and I still believe that knowing how to reign in the diet is like knowing how to reign in the budget; you may not need to be super tight all the time but knowing how is key to managing unexpected circumstances and staying within your means (or in the case of fitness, within your wardrobe size!). I love your tutorials, Humphrey. Thank you!! Keep this going please.

@humphrey

7 ай бұрын

thank you Lise! glad you are watching :)

@InfinityDz

4 ай бұрын

Typical Canadian good person :)

3:00 This is fantastic advice. Thank you Humphrey!

@humphrey

7 ай бұрын

lovely!

👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼 always giving us great knowledge! Always learn something from you

I’m a coffee fiend. While I don’t go to Starbucks every day I did buy upwards of $2k worth of coffee equipment. But my whole family drinks it every day and I’ve been using the same equipment going on 5 years now. On top of that I put whatever I can into investments. I think a fun experiment would be to put $5 into a portfolio every time you want to drink a coffee but decide against it outside. Instead you make it at home. Put that money into an index fund and see how much money you really have in 10 and 20 years. You can still get coffee at a cafe but just don’t put $5 into the market when you buy a coffee.

Great video. Very informative and well put

Thank you for all the tips, it is helpful.

Thanks for the relaxing video!

Thank you for another great video. 😊

Thank you - your videos are so educational.

@humphrey

7 ай бұрын

You are welcome!

Excellent content! You never disappoint 🎉

@humphrey

7 ай бұрын

thanks!

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly😊

@Brigh578

7 ай бұрын

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields

@user-im7qe6ve4t

7 ай бұрын

Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi

@Brigh578

7 ай бұрын

I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?

@user-im7qe6ve4t

7 ай бұрын

The adviser I'm in touch with is *CAROLINA MELINA PHERSON* she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me she strategy works hence my result. She provides entry and exit point for the securities I focus on.

@Brigh578

7 ай бұрын

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.

Nailed it. Must watch for everyone.

I new to investing and I have watched many of your videos; I really appreciate the content and help with understanding things. Tip 7(a) was so good it earned a sub! 👍

I feel like a lot of people I know seem to think the stock market is like some esoteric impossible and strange mythical beast from another dimension. Many companies aren't super crazy complicated. And ETFs make things even far less complicated. And now with online brokerages I feel like its easier to get start than ever, if anything. People need to always do their own research though for obvious reasons before investing and you definetly aren't guaranteed any gains off of it

I can attest that investing as early as possible is the best thing you can do. I started investing within a 401k when I was 19 years old. I'm now 32 and have $84k invested in 401k. If I continue to contribute to it and maintaining an 8% annual return I'll have $1.7m by age 60 and $2.7m by age 65. I don't make a crazy income either, around 55k-60k annually. Starting early is the best thing you can do, the next best time is NOW.

@ingababy5196

4 ай бұрын

Wow that is awesome👏🏾👏🏾

Next level 💯💯💯🚀

Supersonic level 💯

Thank you buddy

If American schools actually cared for the students, financial education would be taught. I really wish I had taken this more seriously in my late teens to late twenties, but we had no real education and my parents weren’t great role models in this situation. Here I am almost 40 trying to get my financial life and literacy straightened out.

Thanks Champion.......

After a massive rally in stocks came and yields collapsed, bond yields and the major averages are higher on Wednesday. How do we deal with such market conditions? Typically my $2m worth of holdings go up 8% then lose 20% right after and the cycle continues.

@AUstinnesc

7 ай бұрын

In my books not your fault, the stock market seems to be more of a casino for gamblers now than a place for investors.Its your duty to properly research, buying now does not guarantee a rebound

@sheltonPston

7 ай бұрын

True, proper asset allocation is critical. Furthermore, some folk employ hedging strategies or devote a portion of their portfolio to defensive assets that perform well during market downturns. How else is this achievable except through expert guidance? So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.

@McElvinn

7 ай бұрын

How do I find this financial counselor ?

@sheltonPston

7 ай бұрын

I've shuffled through a few advisors in the past, but settled with 'Nicole Desiree Simon' her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

@McElvinn

7 ай бұрын

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

Very sound advice 🎉😊

Do agree with you on all these.. but aside from the “ Michelin star restaurant dining “ part, I think getting better quality goods, would save you more money in future though it may cost a bit more upfront. - because it saves time and money in the form of frequent replacements and more maintenance… Examples could be getting a Japanese car instead of a cheaper Chinese one or better quality shoes and clothes (not designer but just well made) 😊 Thanks Humpf.. ❤

Digging the keyboard! :D Are those caps SA? They look like some good thunkers! :D Lets hear that board!!!! :D

What’s the odds of you and Graham posting a video the same time. I ❤ it

@humphrey

7 ай бұрын

Damn thats rare!

The talk of coffee or avocado toast is more symbolic of the fact that some people are spending hundreds of dollars every month that should be going anywhere else.

@barbthegreat586

Ай бұрын

I think politicians mean it literally and seriously.

13:40 is SO TRUE! Especially in the poor sections of town. Way too many poor people fronting the illusion of wealth, while the wealthy actually live below their means and don't care and don't want people to know they're wealthy.

@GibbsTruth

6 ай бұрын

True 💯

Cheers! Good debt topic should get separate video.

Great video and as a young 22 year old I am using some of these myself so I agree quite a bit 🙂

@humphrey

7 ай бұрын

great!

@MrCococda

7 ай бұрын

Good for you brother. I’m 23, I started buying silver when I was 14 been buying stocks since I was 21. Im up ~20% in the market and ~30% in metals. I don’t make much but I’m investing aggressively and consistently. This year I’ve worked a ton more overtime and got a raise. im living far below my means right now while im single and have a simple life. Portfolio sitting just shy of 20k. Wish me luck boys.

I would say that good debt (student loans) depends highly on the job that the degree lands you. If you're going to be a doctor or lawyer, good. If your degree does NOT have a medium-high earning job at the end of school, then it was foolish to take out a student loan for it. (I am guilty of this, and I don't want other people to make the same mistake if they can avoid it.)

@humphrey

7 ай бұрын

good point

@sinclairw5311

7 ай бұрын

THIS!

@barbthegreat586

Ай бұрын

I certainly agree to avoid degrees with unclear career paths. But degree is just a degree, it counts what you make out of it. I have 'useless' degree but made it into high earning career. All of my colleagues are still in academia. I also use my degree's methodology but I wasn't trained for what I do today.

🐐 level

Would you make a video on rocket money and investing and acorn? How do they work, and are they worth it?

Your housing comment - you mention a 20k profit. What about the interest you have paid to the bank on the 80k mortgage?

@FIREownyourtime

7 ай бұрын

Primary residence typically does not make that much of a profit especially after subtracting realtor fees, interest paid to the bank, repairs and upgrades made to maintain the house, property taxes and HOA fees. You probably break even after 7 years of buying.

@webdriverguy

7 ай бұрын

@@FIREownyourtime yes exactly that’s what I was thinking. But it does help you with taxes a bit if you have a home.

Myth #7 is the best 🙌😆

@humphrey

7 ай бұрын

hahah

During the lockdown I opened Two Investment Accounts for my children. They are well on their way to building wealth.

I admit I'm still confounded by people spending $5+ on their daily coffee habit. Most of that stuff doesn't even taste like coffee Personally I just use my €60 coffee maker that takes pads that cost me €3.50 for 40 cups from a respectable brand

I’m glad I got invested in KZread finance when I did when I’m young

Bonus Myth: You Need Money to Attract Beautiful Women.

@matw1x

7 ай бұрын

I lied

@mbank3832

7 ай бұрын

unless you are good looking, wealthy women will even pay you just to own you as pet

@edgarLV

7 ай бұрын

But it cost a lot to find her. Personal experience. :)

@TheThreatenedSwan

7 ай бұрын

Women are much more sensitive to status, but what that means is not identical to net worth

@sarahuber8567

7 ай бұрын

We women are attracted to guys who are smart with money and have a plan. Don’t have to be “rich “

In regards to owning a home, is it a myth that making extra payments on your mortgage (with a high interest rate) to pay down the loan is not a good idea? Or should the money used for extra mortgage payments be better utilized in growth stock funds or money market accounts ?

About the 2400$/year investing: Could you do a video on how to specifically do that? I thought all the fees and necessary paper work would eat up a substantial chunk of that money on such small scales.

@kelani6766

7 ай бұрын

He is portraying the profit you would make assuming both individuals used VOO(or any other S and P 500 equivalent fund) and got the average return from that fund which is 8% per year. Taxes and fees not included but they will not significantly impact the amount at the end, especially if the money is contributed to a retirement account such as a traditional ira or Roth ira

@monishthomasp

7 ай бұрын

I think if you’re doing index fund investing, you don’t have to pay a lot of charges as it’s done by oneself online or via bank auto debit every month. No fund managers required here as it’s tracking the index - therefore no charges.

Here in NZ things are out if control expensive, housing market is f...k first home buyers nees 20% down payment and avg cost is 100k nzd

Damn attacked in the first 30 seconds

@humphrey

7 ай бұрын

Hahahaha

For the house you didn't include the maintenance fees, grass, AC broken, fence broken,roof and all that

Great reporting. This problem is one of the reasons I went with a Tesla, for the hassle free network.

Got it, put 35k in the stonks for 10 years

The coffee thing is a principle. If you can accomplish the same task for less without compromising something essential, you should take the cheaper option. Buying coffee is like flying 1st class vs making it yourself is like flying economy. Same plane, same arrival time. Sure you get off the plane faster in 1st, but the 10 minutes you’d wait in economy isn’t worth several hundred dollars for most people. I make $194k a year and I choose to rent a room for $750 a month because I put $7k per month in my savings/investing accounts. I could very well rent my own place for $2k+ a month, but I choose to keep the money I earn for myself and not donate it to rich people to pay for their apartment building that I’ll never own.

I believe that while there is no genetic disposition controlling whether or not an individual is financially literate, there are certainly environmental conditions that can have a beneficial or malefic effect on a persons perception and ability to navigate the financial aspect of life. However, everyone should possess the capacity to grown no matter where they are from or who they are.

I had you as a Amex Platinum guy more than a Chase SR kinda guy...😅

debt leveraging is a very very dangerous weapon to wield, it is a force multiplier, that degree you payed for , if you flunk out or dont get the job in the future now has become a crippling expense. The only reason mortgage debt is good is cause it locks you in during volatile times, tho on paper the equity argument works, your home isn't an asset. Ive owned a place a majority of my life , the cost of what you put in vs what you get out (unless your flipping /renting) is a break even at best, your primary residents should be treated slightly better than a boat, a complete throw away of money, only difference is most of the time the appreciation of your home will allow you not to be kick out of the market by inflation of that asset. That all being said it really is sad that the powers that be are forcing people towards not even having the option to spend money on a nice home. Also higher price = higher quality, totally agree, and its kind of a sad time we live in, where companies are geared toward convenience over all. Sometimes the most basic items models ( non smart phone fridges for example) will out last that top of the line smart fridge.

I won’t say I was born being good with money, but I did learn about it at a young age. My grandfather use to be my city’s treasure and also was a president of a bank. He taught my mom on how to be good with money, which she then taught me as a kid

I’m No show, all dough. I’m your typical millionaire next door except I’ve never made over 50k a year. I do have a 2012 Honda civic and my everyday attire is T shirts & jeans from Walmart.

I leased a chevy with 0 money down and the payoff next year is minimal. It will have 25k miles or so. You can't buy a 3 year old car w low miles for 14K. Good debt in my opinion.

My wife and I have no interest in buying a home. We want to move around.

Great video

12:17 Actually, there are home loans that go for 1.5% Down. Just got to look.

It all adds up after $5 coffee , a lunch etc after a month, unless you’re a white collar person. The principle is make coffee at home, pack a lunch, trying to save with 3 children, wife at home years ago, it was almost impossible! But, but, and I still managed to retire at 46, 20 years ago and never looked back. After reading Rich Dad, Poor Dad, you wise up very fast!

@marcfrancois6913

7 ай бұрын

I agree some of my coworkers spend $20-30 on lunch not including their morning Starbucks

@tompartyka352

7 ай бұрын

@@marcfrancois6913 Those guys at work, used to burn thru money, I had $500 beater cars and I had side hustles and saved pennies and eventually bought a rental property and 7 houses later and nice investment accounts, my wife of 40 years and I just laughed tonight, saying how much discipline and sacrifice that we made to get here! She said how did we do it? I said, a lot of sweat and tears! Lol

The oldest stock market in the US dates back to 1790 in Philadelphia.

I owned a house once. After 5 years it didn't appreciate in value. Money pit.

Buying a house at this point of time is not a good idea.

Renting and Investing your money in the market can still help you to build wealth.

2:33 thats stupid because it doesnt account for interest paid

I bought a home and turned it into $350,000 equity. If I rented then I would have thrown out maybe $60,000 in rent?

Uhm the stock market in the US started in the 1790s. The 1920s is a commonly used date for tracking data.

Ok ok, myth 9 is stupid. You make great points about everything but you're thinking strictly financials. Buying a home to me isn't buying an asset, buying rentals are assets. I'm buying a home(or trying to at least) so I have say over my land. I don't like that wall, don't have to ask the landlord for permission I can just tear it down. Upgrades to the flooring, building a shed/workshop. I want my own land to do with as I please. If I gotta pay double for a few years then that's fine by me. Let me know what y'all think?

What camera do you use? Looks great!

@humphrey

7 ай бұрын

a7 S3

I use credit cards for their reward programs and carry zero balance

Credit cards arent "bad" per se, but they have a level of immorality that does take some level of knowledge to wrap your head around. For a lot of credit cards, your rewards come at the cost of people having to pay a ton in interest every month. Which means, for you to be getting "good" rewards there are people who are basically being screwed over by the credit card company. This system wreaks of the classist systems of old. The elites sitting on top while the poor struggle to even afford food.

@sinclairw5311

7 ай бұрын

Where most people get got is by spending unnecessarily chasing/in the name of “rewards”. Banks win hand over fist. Takes a ton of consistent discipline to manage the cc game correctly and it gets away from you quickly when you don’t.

So many "if"... But you forget that most people are fools and ignorants

😊

What's up!

@humphrey

7 ай бұрын

Yoooo

Don't sell the house, rent it and refinance it to buy the second house.

lol 😂

I disagree on the coffee

I don't drink coffee. I prefer tea.

starting at age of 70 is better than at 80 - YOUNG youtuber have no idea with death is

I did not like your example @2:20 with 7% mortage for 5 years you will pay 40% more than $80K=$112K so with down payment $20K if you sell for $120K you will be -$12K not to mention property tax, maintenance and repairs

Shhhh don't let my girlfriend see this, she doesn't need another reason to drink more coffee. Seriously though you're amazing, keep up the great work!

Some rich people do not care about style and material possessions. It is wrong to suggest that rich people forego style and material possessions as a whole. Not all have earned their wealth through practicing frugality.

I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. fully retired with over $3.5million, my dividends is supplementing my retirement at the moment. started saving and investing in 2010 in growth, No regrets and financially free

@ArchieLatham502

7 ай бұрын

I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value, my primary concern is how to maximize my savings/retirement fund of about £350k which has been sitting duck since forever with zero to no gains

@Edgardo477

7 ай бұрын

I have my portfolio overseen by a California-based wealth advisor 'Martha Cornell Kerns', Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown

@jaidenSalinas

7 ай бұрын

thanks for sharing, hope to speak with her soon. I've wanted to start investing for a few months but just haven't been brave enough to start due to the market so far this year. I have 70k i want to start with but its hard to bite the bullet and do it

@Edgardo477

7 ай бұрын

goodluck

@joseCalderon1976

7 ай бұрын

You are very smart. And yes, money is a tool to help you achieve those goals that are priceless. Some people don't get that, so even though they might have a lot of money and are financially set, they feel empty inside because they only thought about making all that money without a goal that is deep inside that goes beyond the material stuff. I've seen people talking about it. I totally understand it. Congrats and enjoy your wealth. I'm so happy for you!

You should rebalance your portfolio though

Backup music is distracting. It make me hard to understand what you say

I’m glad my 30$ of McDonald’s a day won’t effect anything other then my health

First

@humphrey

7 ай бұрын

Yes you are!

All you renters are throwing out your money

all credit cards are bad, this channel is a scam

Let's see the AI sector continue to be Good Investment of Time and Energy. * SOUN.. 5 % Gains Today. SoundHound. 20 Auto Manuf Partnerships for it's Chat Ai for Automotive plus new major restaurant partnerships. 52 % Revenue Growth. Hit the LIKE.