As a guy in my mid-30's, here's my advice to Gen Z -- life without money in your 20's may be hard, but it's significantly harder without money in your 30's, and I'm guessing 40's too. you don't want to be living with helpless regret as a broke older adult.

@TonyMoze

Ай бұрын

What about in your 70s, when you don’t have the full energy and vigor to keep up with a job to earn said money…. Example: The Tech Industry with all the 100s of tabs you have to use to keep track of stuff

@cr4yv3n

Ай бұрын

Gen Z is not expecting to live to 40 lol

@thefourhicks

Ай бұрын

Guy in my late 40s. Can confirm. In my view, the solution is to find a profession/career that you love, and become an expert at it-then the market will pay you a premium. It’s much easier to save when you have a healthy income.

@cr4yv3n

Ай бұрын

@@thefourhicks in your 40s? I am 41 and doubt I can still do it, man =/

@UnderTheRadar-cc7we

Ай бұрын

my advice, buy a 5k beater car for commute and buy a no downpayment home with USDA loan, expand radius to 60 miles to find a qualified home... Renting is a means to save for a home.

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance but if you want to make your money work for you...prevent inflation

@CielleNewton-bf3vs

Ай бұрын

What are you talking about and how could this be explained?can someone please explain

@minidinusmark1794

Ай бұрын

Trading with an expert is really beneficial. This will help you not to lose your money in the trading market.

@yungperez2296

Ай бұрын

Do you have any idea of any good broker/trader I can start with that's trust worthy?

@johnderek2896

Ай бұрын

Jane Roy

@johnderek2896

Ай бұрын

My financial advisor , she’s a professional and has helped many become millionaires fr

I'm old. I remember growing up in the 50s. I remember the unstoppable economy, the safety of our small town streets, and NASA fuelled dreams of conquering space. I also remember segregation, atom bomb drills at school, and being locked inside on sweltering summer days in a house with no a/c when polio had been reported nearby. EVERY generation thinks that {insert current traumatic events here} is the WORST thing that ever happened. I remember my folks paying 16% interest on a mortgage, and my grandparents stories of hard times from the Depression. This is NOT the worst economy ever - it just feels like the worst because it's all new to young people. Talk to old people and get some perspective! Pessimism does not serve you and is a monumental waste of lifespan.

@clownworld3913

Ай бұрын

ok boomer

@stevenporter863

Ай бұрын

The first comment just means people think the past was better, more honest and safer because of a 'ignorance is bliss' thing; meaning everything now is more accessible and you can hear the bad news 24/7 as it unfolds.

@lindacgrace2973

Ай бұрын

@@stevenporter863 True.Until Viet Nam, for instance, you didn't have hear about every single horrible thing happening in the war, 24/7. And, even with Viet Nam camera crews, it was brief clips in small doses on the evening news. Kids nowadays are bombarded 24/7 with negativity. I remember the 1950s one 60s as being much more optimistic.

@dima6488

Ай бұрын

You also forgot to mention that said 16% mortgage was paid on a house that costed a maximum of one or two annual salaries. Or the fact that you could support a family on one salary. The cost of living right now is at an all time high, millions of families are struggling to keep above water, with one emergency away from bankruptcy. The amount of couples choosing not to start families for financial reasons is skyrocketing for multiple years now, and many will be lucky to retire in their 70's if at all. Not even going to get started about AI taking countless amounts of jobs in the next few years, something we're not ready at all to deal with as a society. All of that while boomers are chilling in their mansions that they paid off in two years on a factory worker's salary.

@clownworld3913

Ай бұрын

@@dima6488 But like, dude, what about having to get under a desk once a month and staying inside without airconditioning?

As a financial advisor, this could not be more true. The younger the client is, the harder it is to convince them to invest and save.

@c7042

Ай бұрын

If you are not a fiduciary, then, you are a salesman and your advice is worthless, self-serving, and possibly destroys the future lives of your clients.. Are you a fiduciary?

@tylergodwin319

Ай бұрын

@@c7042chill out lol

7:27 inflation coming down doesn’t mean things get cheaper, that’s deflation. If Inflation comes down that just means prices stop rising as fast as they did previously. People wanting their salary to raise at the same rate of inflation or close to It isn’t irrational. If we do go through a deflationary period, then it would not be unreasonable for salaries to decrease.

@iXpertMan

Ай бұрын

^ fact

They're basically saying, "the system can't destroy my financial future if I do it first!"

lol, $4 for an espresso coffee, you really do make coffee at home. Try $6.

@emclaire18

Ай бұрын

$10.75 for an iced latte here in LA including tip.

@ryanconrad92

Ай бұрын

@@emclaire18 If you tip baristas, that sounds like a you problem. They’re literally doing their job, not providing additional service that’s above and beyond. Never tip at coffee shops.

@liam1902

Ай бұрын

@@emclaire18 Tipping for traveling to the coffee shop and ordering/picking it up yourself 💀. This is why I just don't go anywhere anymore lol

@unashamedly1776

Ай бұрын

I mean, I just looked and a grande Americano at my local Starbucks is $3.95, so he's not too far off. (Yes, Starbucks is mediocre coffee; but they're everywhere so it is a good comparison to use)

@funtechu

Ай бұрын

I think the last time I bought a coffee at Starbucks was in 2019, so that didn't seem too far off.

Gen Z is still pretty young though. Most people doom spent in their early 20's. You still likely had a support system around. Mom and Dad are still alive. Brothers and sisters live nearby. You have a lot of friends you can crash with. Gen Z isn't old enough to have the fear of God instilled into them to change their priorities. Being alone and facing the real possibility of being homeless in the freezing cold because everyone is gone, dead...whatever the case... You're on your own. Until that happens Gen Z isn't going to care about tomorrow.

@AmpereNA

Ай бұрын

I was very lucky to have finally been taught at 25 what it’s like to fear homelessness. It really does change your mind

@JR-gy1lh

Ай бұрын

Most younger Americans don't have a fucking clue how bad it could get. Prosperity for so many years has created a weak generation.

@manoftomorrow5987

Ай бұрын

Exactly…when I was in my 20s I lived the same way because I could run to mom to get me through to the next pay day.

@ironically_iconic9848

Ай бұрын

I really don’t believe it’s simple naivety, as a “Zoomer” I could die at any second and wouldn’t care. We don’t care what happens to us.

It's clique, but: don't give up. I always hear from being in the workplace, in and around my generation, that it's hopeless, even though they also have no financial discipline, frugality, or wisdom in spending. No one ever said you could have it all, all at once. You will never get there if you never try. Trying doesn't guarantee success, but you're still in the game, and you can still win.

I enjoy the genuine, let's sit down and just have a conversation, feel of this video. No hard cuts, no script, no unnecessary editing. Even your fidgeting and the sound of things like your coffee cup moving adds to the overall genuine nature of the video. More of these, in my opinion.

I'm Gen x and I'm very frugal. I'm also debt free. I'm so sick of taxes, insurance, and healthcare cost. It's redicioulous!!! I appealed my property taxes and got $1300 back but it was months of heII. Monday, I will swap insurance companies AGAIN to save on insurance. When I get sick, I go to work. Last week, my dentist tried to charge me $55 for my free cleaning. ENOUGH!! It's Saturday, I've been putting things in my cart online. They are offering some good coupons. $40 off $200 or 20% off a larger order. I didn't buy anything but the cost is so much smaller than the things I mentioned. It's my paycheck but the govt and insurance companies get it before I do.

@matthewholliman1399

Ай бұрын

Keep it up, invest what you can.

@awolf81

Ай бұрын

I loathe insurance companies! Car insurance is infuriating. My premiums gradually increase independent of maintaining a clean driving record, making no claims, same credit score…ect. A few years ago I got pretty pushy asking questions regarding why my car insurance premium was increasing. Eventually he just said the reason was “proprietary”. 😡🤬 Thank you for the opportunity to rant, kinda therapeutic.

@Curlylemur

Ай бұрын

I remember when I was a teenager and my step dad said his was only like 20ish a month and that when I turn 25 or whatever it would be that as long as I have a clean driving record... I have a clean record, but my insurance is still like 80ish a month.

@MechE11B

Ай бұрын

USAA upped my car insurance twice in six months. When I called to ask WTF happened since I've had not tickets and a clean driving record of 25 years. They said my premium is going up because other drivers have been making claims and they need to cover the costs... WTF? Charge them more then? Make it make sense.

@RayTheomo

Ай бұрын

Have you tried cutting back on Starbucks? 😏 No but fr its like we're damned if we do. Damned if we dont. Im 24 and i am so disillusioned with this country and economy its not even funny. I literally have no responsibility except myself and i make 21/hr and i still feel like my head is BARELY above water.

I’m a millennial who is working class with 2 k in debt that will be gone in a month or so. I will never go back. I’m inheriting my grandmother who I live with’s property including a house, so I’m just gonna live on the fringe of society and watch the world burn. Maybe build a little nest egg if I can stay focused.

I’ve sold my life for a year and I’m on track to make $120,000 this year. But I’m even poorer now not living with my parents making $70,000. So after this year I’m going back to living with my mom

@mocheen4837

10 күн бұрын

Move home and build a cushion first.

@CapeSIX

10 күн бұрын

@@mocheen4837 ya going back to my $80k year job but no more rent and free food

I really don't get the interest point regarding salary increases. When inflation "goes down" the prices are still going up, just not as fast. Why should salaries go down? Ofc they should keep up with the inflation.

I grew up in the late 80s, 90s and early 2000s....and until 2008 there was nothing that seemed remotely like a recession, but prices never felt like they were as ridiculously over-priced as they are now.

Graham thinking coffee is still only $4 goes to show how he really doesn’t buy coffee 😂

@louishamel2833

Ай бұрын

actually a black coffee usually goes for less than that

@autobotdiva9268

Ай бұрын

@@louishamel2833 what country you live? its not america

@bonerjams2k3

Ай бұрын

What kind of idiot buys coffee? Lol

@louishamel2833

Ай бұрын

@@autobotdiva9268 Canada, a starbucks black coffee cost around 2-3$ CAD which is even less in USD

It's because they already know that inflation will be a million times worse in the future lol

Doom spending?!? It's like a messed up pre midlife crisis

@Cookies205

Ай бұрын

It's nihilism induced self-harm

As a Gen Xer, we all felt like it was hopeless too. My first house was crappy. So crappy. But it appreciated and allowed me to build up a little money and I got to move into a less crappy house and then an even less crappy house. But then 2008 hit and it seemed like the world was ending. It didn't. Keep your eye on the ball. Live in a less expensive area if you can. Invest consistently. You'll get there but don't expect to be there when you're 30. It takes decades.

@lexa_power

25 күн бұрын

How do you invest if your salary doesn’t even cover your rent?

@mocheen4837

10 күн бұрын

Cut your expenses and find ways to save. I grew up on welfare and in a single parent home. I dropped out of college as well. Do not buy into all the yolo hype on social media. Not everybody drives a Mercedes and lives in a mansion. Live below your means and be content.

Interests rates may have been higher for a few years but what was the wage to house price ratio back then? Lmao telling Gen Z to cut out Starbucks to afford a house is like telling a morbidly obese person they will become slim just by cutting out full fat milk in their daily coffee 😅

Every one needs to do what they want but just need to accept whatever consequences they incur in the future, without blaming anyone but themselves.

@stevenporter863

Ай бұрын

Exactly: I always say nobody has to do anything if they are willing to pay the price of not doing it.

This is nothing new! I'm a boomer and there's a lot of people my age that had that same mentality in the early 80's. It didn't end up well for them! Save, invest and be smart and frugal. You'll thank yourself later!

@marksoberay2318

Ай бұрын

Why? What is the point of having lots of money when elderly?

@joshuaknapp5966

Ай бұрын

​​@@marksoberay2318 I don't want to work till I'm 60 and die at 72 from stress related to work. I'd rather save and retire early. Doesn't mean I still don't go on trips and enjoy myself now, but I definitely invest more than my peers. Work just comes down to trading your time for goods and services, I value my time more so than having the newest things.

@raiden031

Ай бұрын

​@@marksoberay2318it would be nice to retire while you still have good mobility and energy

@nidaashraf1572

Ай бұрын

This early retirement fantasy is creating immense pressure of making huge money really quick and fast on the minds of people,they are getting over indulged in work hence falling prey to various physical and mental issues as not every one has the same luck of make humangous money and real quick. So the point is make enough money to enjoy a normal and healthy life ,stop following stupid cravings for luxuries or laziness of making atleast coffe by your self and spend a healthy emotionally stable life ,offcourse spend money when you need it and when you need the most but this approach to enjoy all today and forget the rest is stupidity

@nicksmith9

Ай бұрын

You are literally the most privileged generation to ever exist statically speaking. You had everything handed to you.

Great video thank you!

not a fan of Ramit's racket, he just sells very expensive courses to spendthrifts.

@alainportant6412

Ай бұрын

its trash

@stereomaster4231

Ай бұрын

His book is good. No need to buy a course

@alainportant6412

Ай бұрын

@@stereomaster4231 no need to rape and defecate on the streets either

@alainportant6412

Ай бұрын

@@stereomaster4231 and yet

The housing shortage is caused by people buying homes/apartments as investments. You can't live in a home if someone else owns it, unless they're willing to rent it to you, and if they did, it would have to be worth it to them, and obviously most of the time it's not. This problem is not going to resolve itself.

Yep I bough so many things this week from shoes, to accessories and even skin care

Really appreciate the video on the main channel and great insights.

That's the whole point. People in general, not just gen z, don't want to sacrifice anything. I saw one video (can't remember which one it was), where the lady said we shouldn't have choose between wants and needs. We should be able to have it all. Sure, it can be done. But, you have to make sacrifices to get there. Pretty much everyone has the "want it now" mentality.

@bonerjams2k3

Ай бұрын

That's every female.

@donnabennett5454

Ай бұрын

@@bonerjams2k3, that's why there's guys with car and boat payments.

People in their 20’s are wasting money… I never thought I’d see the day.

Graham its a good job your rich parents were good at saving so that you could mess around making videos instead of doing a real job.

Great advice Graham. This reminds me that it’s never too late to make a change and start today.

3:00 Yeah Graham, maybe Im misunderstanding your point but the interest rate is factored into the housing payment. He's talking about the housing payment being extraordinarily high compared to now, which already factors in that price. Factoring in maintenance inflation due to the cost of goods and services, even with higher interest rates back then, we still pay significantly more than we should be for housing. So it seemingly balances out when you dont consider that wages have not matched that rate of inflation of housing.

Thanks G

Always remember "Trust but verify"

Your take on this is way better and down to earth. Thank you.

Great video!

Hahahaha, I was so excited when lumber got cheaper and I even texted my whole family to let them know 😂

I think it is completely utterly fair because that $80,000 house is now worth a million😂 so it paid off in the end. Unlike today's economy, stuff like that will not pay off. And besides it's a house that we need to live in, not a want and I really wish America can understand that😢😂

Yes, interest rates were high in the early 1980s, however by 1983 or certainly by 1984, you could refinance at a much lower interest rate.

This happened in Japan when people could no longer afford a home. They started purchasing luxury vehicles and sports cars. I know younger people who just gave up on buying a house and just choose to travel and buy new cars while renting.

"Well, I always like an excuse to delay gratification..." -Hank Hill

Graham I don't want to be a jerk here but I want you to make a video on something, why do you save? is this for some day when you're old to spend a much money on what? I almost got killed at 43, I learned we need to live our lives now

@thebrownfeministcanada

Ай бұрын

I know what you mean. I support moderation, savings for rainy days but also taking that one vacation a year to a place you want to explore before you die…we never know when we will die and if we will be healthy enough to enjoy the opportunities. I enjoy Grahams channel, but some of his savings behaviours remind me of someone I knew who had mental health issues and used extreme savings as a means of coping and control on things they could control as they couldn’t control much else in their environment. It became the only way they could feel successful or happy or powerful.

@SoUnDMaN831

Ай бұрын

I save because ,Yes, at some point I will get old and not be able-bodied enough to work and then older you get, health issues will arise that you will need to pay out of pocket for. I’m sorry you almost got killed at 43, but it seems like the bad experience affected the way you few money. What are you going to do if you have no money and are 75? Be a homeless senior citizen?

@iv6335

Ай бұрын

My grandfather was always a hardcore saver. Never spent money on anything, just saved everything "for the future". It would be 100F outside? Open a window instead of turning on the AC. One of the cheapest people you'd ever meet. End result? For nothing. My grandmother got sick. Even though she was elderly, medicaid said "you have too much money, we're not covering anything". He spent millions of dollars keeping my grandmother alive to no avail, and she passed away. A few years later, he started getting sick. Same issue "you have too much money, we're not covering anything". End result? He passed away with less than $10k in his bank account, and his primary residence in such disrepair that we (his heirs) ended up selling it for land value for pennies on the dollar because no bank was stupid enough to mortgage a house that would have been easily condemned if a city inspector ever happened to drive by it. That's it, no other assets. Before all this happened, he had around $5m in the bank and a few investment properties. So he never took a vacation, never went to the movies or a show, never even left more than 20 miles from his home, sweated through the sweltering summers, went out to eat only when someone else invited and paid, drove only econoboxes, and just lived a generally miser lifestyle, for what? To save medicaid a couple million dollars over a few years (which isn't even a rounding error to them, that's effectively $0) Good job saving for the future grandpa.

Great video

College costs have gone up partly because of government support for loans, but more so because of government *lack* of support to subsidize state institutions. The amounts that states provide to state colleges and universities has plummeted since the 1970s, and that's a huge reason why costs have risen. State schools are still great deals, but they lack the support form the states (most of them, at least) that they need and deserve.

Just started but I know it’s about the Little Treat Epidemic

@TheGrahamStephanShow

Ай бұрын

Yep

It's tough out here fr.

Graham when are you gonna have Ramit on the Iced Coffee Hour!!?

@AnimsOnDemand

Ай бұрын

Ngl, I feel like Ramit would turn it down because of the guests that they have on the show. He's a pretty big lefty

Small expenses add up and lead to less money set aside each day. $10 a day gets expensive real quick.

I don't know if it's because I grew up in a town that I knew as a kid I would likely never be able to afford to live in as an adult or what. But I've always been bemused by people complaining about the impossibility of buying a home when they are insisting on living in very expensive areas.

@nicolasgirard2808

Ай бұрын

Fair point however most of the good jobs are located in those expensive areas. If you can land a high paying job in a cheap area you have a golden ticket to home ownership, but it's unlikely for most people

@stevenporter863

Ай бұрын

Exactly. People tend to live where they don't need to spend their entire waking life working, commuting or getting ready for their commute to work.

@whorhaydelfuego7190

Ай бұрын

@@nicolasgirard2808 The point is that if you can't afford to buy a house withing commuting distance of where that "high paying job" is, then that job isn't really high paying. The pay might sound good on paper but if it's destroyed by the cost of living then it's not worth it. My pay is good but not great, even for where I live, but I can support a family of four on it pretty comfortably and we've even got a home in a desirable area/neighborhood. It is "fly over country" so not desirable to everyone but that's part of the trade off.

@nicolasgirard2808

Ай бұрын

@@whorhaydelfuego7190 renting is typically a lot cheaper than buying in the big cities where the good jobs are. So the best strategy is to rent and put all your excess savings into the market for long term growth.

@wulfsorenson8859

Ай бұрын

Because expensive areas are where most of the work is!

A median house 40 years ago was much smaller.

Graham - that ding was a sneak attack and my eardrums are screaming. Still smashed the like button.

Back in the 50's, tv wasn't even on during the day and the channels went off at midnight..

Go ahead and spend, there's no future 😂

You can order hot water to go from some coffee places for like 20 cents. Then you put in a tea bag or one of those instant coffee packages.

@dylan.-6527

Ай бұрын

Just drink it cold?!?

@kyungshim6483

Ай бұрын

What?! Even if that is true, that is some next level frugality. I thought I was being frugal by thinking of ways to sneak in cold beers to a football match.

I must be in the minority of millennials who believe in small actions having significant long term effects. - Son of uneducated, immigrants with little to no money. - Worked many jobs. Shitty jobs. - Consistently saved. - Got a small student loan. - Went to college. - Worked while studying. - Graduated. - Got a job, started at the bottom. Climbed the corporate ladder. - Kept saving consistently. - Lived below my means. - Continued socking away money. - Bought a house in early 30s. - Continued living below means. - House halfway paid off at early 40s. 🤷🏻‍♂️ Yeah maybe it was easier to get a house in the 60s /70s but to say that there was never a point in GenXers and Millennials to save and forgo several short term pleasures is a bit disingenuous. Millennials, we had about 15 decent years where we could’ve chose to save and not blow our disposable income. And if we chose to not save for a downpayment for a home I think it’s a wasted opportunity.

Inflation never really goes down, with our monetary system, it only slows. Also, wages take generations to catch up to spikes in inflation. Kind of feel like both of these guys are disconnected from reality.

@CheetahFoxx

Ай бұрын

Inflation is a vehicle for the government and banks to transfer wealth from the poor/average to themselves.

I think people in general don't want to put effort into being successful because they want to get rich quick and not work hard the rest of their life.

@nicolasgirard2808

Ай бұрын

Animals are programmed by evolution to conserve energy so yeah, obviously people would rather not work.

@wulfsorenson8859

Ай бұрын

That’s because they know now they have zero chance of getting rich through conventional means like a career or buying a property.

@Eltipoquevisteayer

11 күн бұрын

Tbh you could live an honest and dignated life with a simple job

@wulfsorenson8859

11 күн бұрын

@@Eltipoquevisteayer not any more you can’t.

Lumber never went back down to normal at all

Thank you for pointing out the mortgage interest change! That is huge and no one mentions it. It's easier to show a doom narrative vs income. Part of the inflation on homes was my house bought in 2000 had the same monthly payment as twice the cost in 2019 thanks to lower interest rates. As you mentioned salaries are higher than they were then. Housing costs were almost flat. Granted since the pandemic rising house prices and rates have made this worth but no one is doing the fair comparision of costs. Selling GenZ a bill of goods for clicks

3:23 drinking matcha as he talks about cutting back on matcha.

@laundrygoddess4

Ай бұрын

He can afford it? 😂😂

I hit the like button so I can feel good about myself 😊

To live is to struggle and life is worth the struggle.

2:25 I will say the advantage of a smaller principal but higher interest rate, paying a little extra each month makes a much bigger difference to the total cost and how fast you pay it off. But the other thing people need to be aware of, in the 80s things like energy effcient windows or high efficiency furnaces wernt really a thing, air conditioning was an upgrade, and houses were much smaller in general. So yes houses are more expensive today, but you are also buying a lot more than what a house was 40 years ago.

Graham, how often do you drive your cars? The GT and whatever else you have now? Cars can be an expensive hobby but worth it for the sense of community.

If it was easy everyone would do it. It's because everyone wants a shortcut after being ingulfed in social media. For most people building long term financial hard is an extremely long and hard process.

Americans/Anglos have always been terrible when it comes to handling money. That whole "buy now, pay later" mentality and not paying in cash will break your neck. It's absurd and nobody would do it where I live. Except people who have nothing to lose which seems like a good explanation to why Gen Z would be doubling down on it.

I cut back on all my spending, minimised all my bills and started actively boycotting the entire economy,I have plenty of cash on hand now and I live very frugal,I stopped being a consumer of nearly all things 😊

Regarding people longing to be born in, & live in a different time (that has likely passed)- the movie, Midnight in Paris is a good watch!

im 25 just now starting to try and make a change in my education to hopefully go to a long term career. I've wanted to learn investing and etc but never had a lot of money set aside to just throw into a void and wait months xD

In Canada, our houses cost twenty times our annual income… look it up.

@27jyp

Ай бұрын

I do not think America should be complaining compared to Canadians. And I am Canadian.

@MarcioNovelli

Ай бұрын

@@27jyp The average house price in America is $387,600 which converts to $534,000 CAD. The average house price is Canada is $719,400 which converts to $522,000 USD. Our house prices are 35% higher than America’s house prices. Let that sink in. 😳

@weird-guy

Ай бұрын

In my country is 16 times🤣🤣

@weird-guy

Ай бұрын

In my country is 16 times🤣🤣

@27jyp

Ай бұрын

@@MarcioNovelli Plus, our income is way lower than US income and heavy taxes.

Newspeak, Keeping up with the Joneses is now Doomspending, new word to justify living above one’s means

It's deficit spending. It's addicting and I get it. But it's the same thing the government is doing with reckless abandon. They don't seem to think there's a future worth saving... or even balancing the budget for.

Guy: Talks about the stupidity of saving on coffee… Graham: And I took that personally… 😂

I am Gen x. Only rich people had soda pop in their fridge or actually owned a hairdryer when I was a kid.

Hey graham, love the videos. You should make a video explaining how the federal currency works.Touching on the gold standard, bretton wood system,fiat currency, quantitative easing, and inflation. I think a lot of people who are intrested in these videos don’t have a basic understanding of these topics. Keep it up!

You’re wrong about inflation dude. Just because inflation doesn’t rise doesn’t mean prices will go down. It just means it stopped rising but the price will remain at the new price

Still liking!

Change title to "Cope with being enslaved by the Oligarchy" Who wants to work to keep them rich?!?

It’s not a housing shortage! It’s a lack of affordable housing!!!! For Pete sake

7:57 This point doesn't make a lot of sense. If inflation has come back down, the prices are STILL HIGH, your wages shouldn't go back down. Historically, people DO take wage cuts in times of DEFLATION, where prices (not inflation) comes down.

Graham, to just shrug off inflation and say wages will eventually catch up is such a bad take. Tell that to people who have empty wallets before the next pay day. The state of the economy, inflation, the high costs of rent, mortgage, energy, gas, food, car insurance, car payment, etc are largely due to how the govt has mismanaged monetary policy and printed trillions of dollars. Many people have been irresponsible with their finances, but life is very expensive right now, and many people are really hurting financially.

I live in EU. Our household net income is 36k/year, we save 7-8k per year. We plan to build our house, totalling somewhere around 250-300k. Though we will be saving 10k per year when all our kids are in kindergarten.

This has always been true ever since home ownership has become a pipe dream.

Low interest rates are a main contributor to asset inflation which has made housing prices soar.

I’d pay $25% interest on 15 blueberries any day compared to what we have now.

No way did boomers look back from 1950's to the 1920's and think it was a better time financially. Their parents were the ones that went through the Great Depression. They may have looked back and thought that the world was safer on a global perspective since before WWII though they were still able to afford housing, medical, etc.

You are right about finding some cheap interests...Not necessarly cheap to get into but cheap to sustain...Ideally find an interest that can generate money at some point. BTW...Shopping is not a hobby its a very expensive habbit XD.

What’s your take on Ramit’s interview of Mindy from bigger pockets money?

Damn

@TheGrahamStephanShow

Ай бұрын

First!

Man inflation going down is not things costing less, it's still growing but slower

A few years ago people were raising the alarm because young people in London and Hong Kong had this same attitude that they would never be able to save up enough to buy a home or to support a family; so they just spend all their money at the bars and live for the here and now. Looks like this attitude is spreading worldwide.

Even though higher interest rates in the 80s, compared to 2023 the relative burden is 30% higher now than it was then. In the 80s, saving up 20% to put down on a home would only be 62% of your income, now it's 117% almost double.

hey, by any chance do you require a video editor ?

Live your life when you are young enough to do so. The dividends of having a social life when you are young, out weigh having a lot of money when you are old.

I live in Russia. We do have the same point - you will never get acceptable future here despite how tired on the job you are. All the diffirense between offered future is would you like do die tired or not. You can't chang your time for money/house or any other financial goals. There is no such option as to get "American dream" by anyway. You will never get it. And why you should do the job you don't like? For what? Then you just shoud relax and enjoy. This is going everythere. It's not only an American issue.

@weird-guy

Ай бұрын

Sounds like my country😂almost no upwards mobility so we just ´enjoy´ life at least we have a high home ownership rate, but we new buyers we are fd

the housing shortage is manufactured. There isn't a real shortage of houses just ones that aren't owned by wall street investors. Control the supply, Control the price.

From the "Great Resignation "to the "Great Give Up", geez sounds depressing

Doom spending Gen z are losing their minds🤣

The economy was based on single income house holds, now its based on dual income or even dual income and parents subscription

I personally don't believe there's a housing shortage. If homes became free, I think at least in America we can fit anyone in a home. Apartment or house

@joeycannoli518

Ай бұрын

Its an artificial shortage, outside investors like BlackRock bought up a ton of the properties and they remain vacant or charge disgusting amounts of money in rent. They don't want you owning a home unless you're paying 500k+ and a lot less people have the ability to do that anymore. Interest rates are super crappy too comparitvely to a couple years ago so financing these houses on the price they are now is like setting yourself up for bankruptcy.