Jeremy Schneider: How to Become a Millionaire with Index Funds
Want to become a millionaire? Jeremy Schneider from Personal Finance Club thinks index funds are a great place to start. Personal Finance Club: www.marriagekidsandmoney.com/pfc (affiliate link)
Personal Finance Club: www.personalfinanceclub.com/
CHAPTERS
0:00 - Intro
1:34 - What is an index fund?
1:58 - What is a stock?
2:25 - Which stocks do you buy?
5:30 - Why do index funds beat out individual stocks?
11:00 - How do I become a millionaire with index funds?
12:30 - What is compound interest?
15:11 - Where can we mess up as investors?
20:15 - How did you become a millionaire? (Jeremy's Story)
31:29 - Where do I get started today?
#IndexFunds #BecomeAMillionaire #MillionaireSuccessStory #MillionaireMindset #InvestingTips #PersonalFinance
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ABOUT JEREMY SCHNEIDER
Jeremy Schneider is a successful entrepreneur, personal finance expert, and Michigan alum!
After starting an internet company in college and selling it at the age of 34 for over $5M and retiring at 36, Jeremy has dedicated his life to teaching personal finance. He founded Personal Finance Club, a community of champions of the individual investor who help further financial education.
Jeremy likes playing beach volleyball and writing bios about himself in the third person.
MARRIAGE KIDS AND MONEY:
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DISCLAIMER
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Пікірлер: 203
I have seen Jeremy before, but it great to know that he is still going strong. I just tipped over a million in net worth so I am finally in the club.
@MarriageKidsandMoney
11 ай бұрын
Rockstar in the comments! Thanks for sharing Darrell!!
@lkmb1717
8 ай бұрын
Well done!!!
@tonymimi9715
3 ай бұрын
Congratulations!
I lived below my means and bought residential real estate beginning back in the late 70's. Retired by 39 years old! I agree giving back is also key to a happy life!
@MarriageKidsandMoney
9 ай бұрын
Gotta love owning more of your time! Thank you for sharing with us!
Outstanding Commentary!!!! Priceless!!!! Thank You!!!
@MarriageKidsandMoney
11 ай бұрын
Glad you enjoyed it!
Thanks guys - love the interviews you do. cheers 👍😀
@MarriageKidsandMoney
2 жыл бұрын
So glad you enjoy them Susan!
Happiness!!!!!I loved this !!!!!!❤️❤️❤️❤️
@MarriageKidsandMoney
11 ай бұрын
So glad you enjoyed it!
I just started investing in index funds. I’m starting with $1600 monthly and will increase as I get raises. Let’s see how this goes.
@CasonKComedy
10 ай бұрын
Where are you buying from sir?
@smitht1988
10 ай бұрын
@@CasonKComedy vanguard VTSAX
Everything is so true the realest thing i got from this is get rich slow, or stay broke forever. I’ve been trying that rare situation the past 5 years I’m 35 and now doing the get rich slow method and wish I’ve stuck to this method 10 years ago
@MarriageKidsandMoney
11 ай бұрын
Getting rich slowly works! Stick with it. Index and chill as they say.
I just discovered that if I had stop buying my $7 a day breakfast every day/( $196 a month) and invest in index funds that can average 10.41% return.....Millionaire account in 39 years!!!!
@MarriageKidsandMoney
2 жыл бұрын
It’s tough to deny! But that breakfast sounds pretty delicious though … what about negotiating your cell phone bill or getting some discounts on insurance? That way you’re not killing your fun.
@maxlewis2011
2 жыл бұрын
@@MarriageKidsandMoney $7 dollar a day on breakfast.....isn't as fun as bagging your own breakfast meal. Plus, I already pay $50 a month for my unlimited cellphone service through boost mobile. I also do the Ramen noodles dinner without the Salt package.
@MarriageKidsandMoney
2 жыл бұрын
@@maxlewis2011 You’ve got a plan that works for you. That’s what is most important! Good luck on your millionaire journey!
@maxlewis2011
2 жыл бұрын
@@MarriageKidsandMoney Thank you for sharing your thoughts and providing advice for all to see 👏🏿
@carolinavargas61
11 ай бұрын
Is it too late to start at 42?
Thank you for the content
@MarriageKidsandMoney
8 ай бұрын
Thanks for watching!
Such a good interview!
@MarriageKidsandMoney
11 ай бұрын
Thank you!
Did he fall asleep in the sun with his sunglasses on? Either that or he's assisting Batman as Robin by day.
@gatoborracho4572
11 ай бұрын
Jajajajaja 👍
@mrwok1234
11 ай бұрын
He’s been beta testing the vision pro
@rootscapital3677
11 ай бұрын
I bet your broke😂
@Lovingdogsclub
11 ай бұрын
😂😂😂
@AdolphusHitler-in4ee
11 ай бұрын
🥰🥰
Thank you
@MarriageKidsandMoney
9 ай бұрын
Absolutely! Thanks for watching
Great content very helpful.
@MarriageKidsandMoney
10 ай бұрын
Glad it was helpful!
Awesome video! Slow and steady seems boring, but better than speculation. We have index funds in Roth, and taxable VTI to pay off the house early!
@MarriageKidsandMoney
2 жыл бұрын
It’s hard to deny the results!
You can rebalance with the Schwab index ETFs : take profits from your highest appreciating index etf and use the proceeds as capital to buy the lower value ETFs. Just wash rinse and repeat.
Where do you see value in Resources stock ETF
I thought he was saying 4 years lol. But yes, looking forward to converting my 401K to the best index funds I can
Thanks, great interview useful information
@MarriageKidsandMoney
2 ай бұрын
Glad it was helpful!
Thank you. I love the interview only thing is just want to know for his own opinion what is the top 10 index or etf that he can recommended and we buy keep it for years ?
how do you auto invest in stocks and ETFS. Its easy to autoinvest in mutual funds but havent found anything safe and good for ETFs and stocks
@MarriageKidsandMoney
9 ай бұрын
I found M1 Finance did this easily. Have you heard of them?
🎉 Super cool interview, cool guy. Finaly someone that did it eith index fund. Well he had bunch of help selling his business. But 😎 calculations.
Great content 🎉
@MarriageKidsandMoney
11 ай бұрын
Thank you!
Thank you open an account and I had no experience for a year it was sitting there cause I didn’t pick any and when I called they will not suggest anything but kinda hint what u need to do like a puzzle…. Also did he say 10years or 40 years
VTSAX , VIGAX , VSGAX , VMFXX and VOO are my stare-way to heaven
@MarriageKidsandMoney
11 ай бұрын
Gotta love Vanguard!
@smitht1988
10 ай бұрын
I’m contributing $1600 a month to my VTSAX account. We’ll see how it looks 20 years from now lol
@helloworld9134
10 ай бұрын
VFIAX (tracks S&P500) is great too.
@newviewnc
8 ай бұрын
What do you all think of FZROX?
@tonymimi9715
3 ай бұрын
@@smitht1988I wish you the best success! I'll be back in 20 years to get a loan 😅
I have a mix of index funds and a few ETF Google Apple Amazon Berkshire B .The ones I feel will be around for a long time..Im doing a little gambling on lithium battery companies
Great interview! Thank you for the content.
@MarriageKidsandMoney
10 ай бұрын
Glad you enjoyed it!
This works🌻
@MarriageKidsandMoney
11 ай бұрын
Absolutely! It helped our family become millionaires too.
My only concern with index funds is that, as people move more and more into them. And less into actively managed funds. How will the market set the value for the stocks in the index? As it’ll be the fund buying them regardless. So let’s say KO was actually doing really badly. Vanguard would still be buying the stock and falsely increasing its market cap. What’s your thoughts on this please?
@MarriageKidsandMoney
9 ай бұрын
If KO does really badly and falls out of the index you're investing in ... you no longer invest in KO as an index fund investor. This is a win-win for index fund investors because you only own the market-cap-weighted companies in the index.
@michaeldautry
9 ай бұрын
It’s basically a free managed fund bc the s&p 500 kicks the companies out if they are not meeting the criteria for the 500 stocks.
@MarriageKidsandMoney
9 ай бұрын
@@michaeldautry That's an EXCELLENT way of looking at it 👍
@comeandreasontogether2383
4 ай бұрын
Great question
@marcwareham9351
4 ай бұрын
@@michaeldautry you don’t understand the question.
i would recommend to read fast lane millionaire by MJ De Marco…
nice
Did he say 4 years or 40 years??
How many index funds should I have in my portfolio? Is one S&P 500 fund I contribute to consistently adequate?
@TalkingMoneyWithNozi
11 ай бұрын
Add a global index fund like Vanguard Total World for example.
@wread1982
10 ай бұрын
All you need is VGT
@livinthedream4479
2 ай бұрын
VTI is good too
Totally Agree
@MarriageKidsandMoney
2 жыл бұрын
I know it's worked well for you my friend! We gotta keep preaching the good word so others can grow their wealth as well.
Maybe I'm old fashioned, I really like Vanguard.
@MarriageKidsandMoney
10 ай бұрын
Me too!
Compounding! I just Love the word! I also Love Real Estate! But, you have to pay it off or it Compounds against you!
@MarriageKidsandMoney
11 ай бұрын
Both Real estate and stocks work best when you buy and hold 👏🏻👏🏻👏🏻
It's not boring when it's handsome nerdy men talking about it. 😆
@MarriageKidsandMoney
9 ай бұрын
ha! Thank you!
I like it. Less risk but my only take is make sure you buy them at the very bottom.
@MarriageKidsandMoney
11 ай бұрын
Timing the market is very difficult. I prefer time in the market and spending more of time enjoying life.
@wyattpitts6945
11 ай бұрын
How do you buy at the very bottom? Is there an alarm that goes off, right before a rebound? I am New.
@MarriageKidsandMoney
11 ай бұрын
@@wyattpitts6945 I want to know about this alarm too! What does it sound like?
@crichards1986
9 ай бұрын
You'll never guess the bottom. Dollar cost average over a long period of time. Keep adding money, when the market is down you add more, up add less. You'll be loaded in 20 yrs!
Great info..Thanks! The stats you gave at around 11:10, I played over and over again.. also, the dead people statistic at 9:15 is eye opening too..
@MarriageKidsandMoney
10 ай бұрын
Glad it was helpful!
I always want to invest in funds, but I do not know how to do it, thanks
@MarriageKidsandMoney
8 ай бұрын
I'd recommend checking out Jeremy's course in our video description or pinned comment above. He's helped hundreds of beginners feel like they "finally get it"
What advice do you have for an older person who has started late with investing? I have an IRA and would you recommend opening a brokerage account to invest more money once you have maxed out your IRA for the year?
@jmc8076
9 ай бұрын
Hopefully they’ll reply to you. Try two excellent books on index investing and financial planning in gen incl for/in retirement: -Reboot your portfolio, Dan Bartolotti -Beat the bank, Larry Bates Both have decades of experience in finances/investing. They’re Canadian but their experience and advice cover the US too. Edit: Naftali Harowitz videos on money maybe helpful too. He’s an advisor for high net worth US clients but good advice for all levels incl indexing.
Absolutely Right Sir 🙏
@MarriageKidsandMoney
2 ай бұрын
It works!
What index funds you recommend for fidelity?
@MarriageKidsandMoney
2 ай бұрын
FXIAX tracks the S&P 500 index. "Don't buy the needle in the haystack, just buy the haystack." - Jack Bogle
Great video
@MarriageKidsandMoney
2 жыл бұрын
Thank you!
Is there a difference between index funds and ETFs?
@MarriageKidsandMoney
20 күн бұрын
Yes and no. ETFs can typically be bought at a lower price. Also, they can be sold during the trading day and index funds sold at the end of the market day. But as far as what you're investing in, an ETF like VTI and an index fund like VTSAX are pretty much the same.
I invest 710 a month between my roth and taxable. Im also funding and emergency fund currently so after that it equals 1050 a month invested.
@MarriageKidsandMoney
5 ай бұрын
That's a strong contribution amount! Nice work!
Thats all great but adjusted for inflation you will still not get rich even after 40 years. I just googled that an item worth 100 in 1960 would be worth 1000 in 2023. So 40 years from now 2 million will be 200k in todays valuation. So setting aside small sums and putting it into index will help you a little when you’re old but don’t count on getting actually rich. Starting a business and than investing is basically the only way anyone could get rich.
@donaldlyons17
10 ай бұрын
Right!!!! Yeah these people know the answer is having an income that outpaces expenses but with so many not making enough they don't want them to just leave.... So they suggest slow and steady which will not work either..... WTF why not just be honest?
@MarriageKidsandMoney
10 ай бұрын
Inflation is definitely something to account for. Since the stock market has averaged around 10% over it's existence and inflation averages around 3% over its history as well ... a real rate of return of around 7% may be a better input. With that said, contributing $500 per month for 40 years at a 7% real rate of return will make you a millionaire (in today's dollars). So I guess the question really is ... what do you consider rich?
@donaldlyons17
10 ай бұрын
@@MarriageKidsandMoney $500 a month is more than a huge percentage of the population can afford each month especially for YEARS!!! We know this because too many when polled don't even have 1K cash each year in the even they have an emergency...... SO no for the majority it is not possible and they will not be able to do that for 40 years on average either!!!!
@acer4237
9 ай бұрын
@@MarriageKidsandMoneywhatever number makes you comfortable In what is important to you. Everyone has a different number and idea on what’s rich.
@MarriageKidsandMoney
9 ай бұрын
@@acer4237 Absolutely! Couldn't agree more!
You become millionaire with big investment in index 🙂,
He’s right. I did it.
@MarriageKidsandMoney
9 ай бұрын
Gotta love that! Nice work!
Are index funds the same as mutual funds?
@zestpeet4614
Жыл бұрын
Index funds usually have lower fees associated with them because they're not managed in the same way as a mutual fund.
@cindytat2022
11 ай бұрын
@@zestpeet4614 %
M1 is another very good platform to invest automatically.
@MarriageKidsandMoney
9 ай бұрын
Agreed!
I loved this !!!!!!❤❤❤❤ Danke!! Reminds me of how I made my first million I invested quarter a million in trading stocks with the help of an excellent broker who trades for me.
@ralph.gpaker6430
8 ай бұрын
Well said. I'm from NY & I'm sitting on a lump sum I need to invest, who's trades for you and how can I reach out to help me trade?
@obriennate4591
8 ай бұрын
Alright, she's Erlinia Jedraa Barrett. Look her name up.
@dr.liangmo882
8 ай бұрын
👍👍 My friend in Europe who works with Erlinia Jedraa Barrett referred me to her & she trades for me currently. I started with £100k in a few months I've made over 520k. She’s amazing. Cheers🥂🌹
What about ETFS?
@MarriageKidsandMoney
7 күн бұрын
ETFs can be great tools as well!
Bro congrats first of all, but I have 16 years in investing in my 401k.. But I have 140k in my 401k..reaching 45years of age..I think I'm not doing good just leaving it alone..need help..I want to reach 1mil by 55 year of age..what can I do..
@MarriageKidsandMoney
9 ай бұрын
First of all, congratulations on growing your 401k balance to $140,000 at 45 years old. To get to $1 million by 55, you would need to consider maxing out your 401k each year for the next 10 years. If you get an employer match, that would help a lot. If you don't get an employer match, you could consider investing with (and maxing out) a Roth IRA as well. Here's a video on how to open a Roth IRA with my favorite low cost brokerage partner Vanguard: kzread.info/dash/bejne/doilptxmhdSWqM4.html
@MarriageKidsandMoney
9 ай бұрын
Also, check into what type of investments you're investing in within your 401k. Not all investments are the same and your 401k fees could be higher than normal too.
Here's how to become a millionaire quickly... invest a million in index funds.
@ciscohour5884
3 ай бұрын
Exactly. Otherwise - wait 40 years.
I would have liked to hear what specific index funds does he buy. FIAX? VTI? Etc
@helloworld9134
10 ай бұрын
Probably VTSAX (Vanguard Total Stock Market Index Fund) or VFIAX (Vanguard 500 Index Fund).
Stocks will not go to zero if it's fundamentals are good
Tough to trust fund managers to do the right thing. Why not take their top picks of each fund and build your own portfolio. Trading is inexpensive nowadays and you control your own trade.
Close yourveyes, he sounds like Tony Robins.
@MarriageKidsandMoney
9 ай бұрын
A compliment for sure!
Here’s my focus: Explore the formidable synthesis of compound interest, dollar-cost averaging, and index funds. Yet, the veritable enigma resides within time. With time as your comrade, you'll liberate opulence immeasurable! Adhere steadfastly to the path of constancy, discipline, and a scarcity mindset-they constitute the quintessential components that distinguish triumphant individuals from those ensnared in the relentless cycle of the rat race.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
@user-yw2by6rc1j
3 ай бұрын
Maybe you should consider looking up Leticia Zavala Perkins, she has an impressive resume to work with.
Sad when Borders went out. Go BLUE!
@MarriageKidsandMoney
2 жыл бұрын
Agreed! An icon for a long time.
@freedomworks3976
11 ай бұрын
Yep one of my favorite stores
Index Funds where only gains are kept and not participating in down turns. That is real index power.
@MarriageKidsandMoney
9 ай бұрын
I wouldn't agree with that statement. In 2022, the S&P 500 went down by 18%. S&P 500 Index Fund holders lost 18% that year, but it's up about 19% this year so far (July 2023). So if you started investing at the beginning of 2022 and invested in the S&P 500 index, then you'd be up by 1% today. Long-term though (say over the past 100 years) ... you'd be averaging around 10%
@tBone20082
9 ай бұрын
@@MarriageKidsandMoney yes. Agreed. Wouldn’t you say keeping gain and adding to that be better?. Any variable account is good for long term. Variable account have tax . Would you agree no tax would be better ?
Index funds are slowwwwwwww, I do the growth stock swing trading like Jim Roppel, I always set stops so I ever lose out
@ammasashwin1
10 ай бұрын
That's a great idea Stops. I'd like to time a decent entry point and have some stop limits.
Did he say a millionaire in 4 years or 40 years?
@jhonatanrosario6787
10 ай бұрын
40
@bu-ey8yj
10 ай бұрын
Correct. I'm curious how many of us will still be around in 40 years.
@johneastwood4852
10 ай бұрын
40
Ok, I hear you. Is 2023 I want to start investing and I have two questions: - where do I buy? Can I do it myself without my bank? Are the apps around valuable? - 250$ monthly, what evolution can I expect to see in 5years time?
@MarriageKidsandMoney
9 ай бұрын
Low-cost brokerage firms like Vanguard, Fidelity or Schwab are smart places to consider. It is possible to do it by yourself, but having support can help! Check out Jeremy's course www.marriagekidsandmoney.com/pfc (affiliate link) for guidance And with $250 monthly over 5 years with a 7% real rate of return, you may have around $17,000 Same situation but giving it 10 years ... $41,000 Same situation but 20 years $122k 30 years ... $283k 40 years ... around $600k If you want more, you'll have to contribute more or give it more time.
@kakaroth80
9 ай бұрын
@@MarriageKidsandMoney thanks
@rosh70
4 ай бұрын
Vanguard and Fidelity are the best starting points. Vanguard has Robo Advisor and it's free. VTSAX is the best ROI index fund. While FXAIX is Fidelity's best S&P 500 Index fund.
250 over 4 years or 40 years 🤔
@vincenuevo_
10 ай бұрын
40. 😂
@onlyagreeingsometimes
10 ай бұрын
@@vincenuevo_ That's what I was thinking 🙄
Want to become a millionaire with index funds? Jeremy shows you how here: www.marriagekidsandmoney.com/pfc (affiliate link)
@Lovingdogsclub
11 ай бұрын
Oh my wife forgot she has an account, I will check to see how much she has. 🎉🎉🎉🎉🎉
@camelshark69
10 ай бұрын
I’m new too. Are we talking about investing in ETF’s?
@MarriageKidsandMoney
10 ай бұрын
@@camelshark69 Index funds and ETFs can be excellent ways to get started!
Buy a 3x ETF that tracks the S&P 500.
@layson9061
9 ай бұрын
2x or 3x ETFs are not designed for long term. They suffer decay because they rebalance at the end of each day.
@joeschmoe1794
9 ай бұрын
@@layson9061 No they don’t. TECL (3x ETF of the S&P 500 tech sector) has turned a 162x since its inception back in December 2008. TQQQ (3x ETF of the Nasdaq 100) has turned a 111x since its inception back in February 2010. But you go ahead and keep telling yourself they suffer from decay. I’ll keep backing the truck up and buying more the more they go down. Both are literal no brainers.
A millionaire in 4 years?!? How is that investing $250 a month? More like 20 years.
@jhonatanrosario6787
10 ай бұрын
40 years
3 million at the end of 40 years is inflation (5%) adjusted 400k. Its nothing. If you want to be rich only two options - either increase amount invested or achieve higher roi
@MarriageKidsandMoney
9 ай бұрын
I believe inflation over the next 20-30 years will trend closer to the Fed's target rate of 2-3%. Historically, you'll see the average inflation over time in the US is closer to that 3% number. 5% feels very high to me, but to each their own.
Off-topic 100% get to meat
To become a millionaire with index funds: 1) Pray you are in a bullish secular cycle. 2) dedicate 30 yrs to work or more. 3) Or start with 800k and retire in 3 yrs.
A b
The big question, what Iwould be the value of 1 million in 40 years !
@TylerRayHamblin
2 ай бұрын
More than $0!
you are talking shit man any penny stock can beat any index fund
@TylerRayHamblin
2 ай бұрын
🤣 you can’t be serious
he lost me when he insulted old people who are forced to work at places like WalMart.. pretty easy to teach w/o talking down to ppl