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You absolutely can contribute more!
29 is a great age to begin. No need to time the market.
Your boss will never love you the way a family can. And if they do, run
Are these people on meth? Because anybody with over a million dollars isn't watching f****** KZread. Who the hell are they f****** catering to?
me watching this as a gay man with no kids: ✍
When interest rates are high like now it makes sense to “hoard” wealth. It does not make sense to spend it. Thats the whole purpose of interest rates going up.
Bought a house when rates were at 3%... $700/mo in interest to the bank. $400/mo in rental income from renting the garage. Converting the back corner to a rental lot, and should be at $750/mo in rental income by EOY. Net worth will be cruising forward even more. $250k at 30... should hit $1m by 40.
Teach your children to work. They will never go hungry. A work ethic is so important.
I agree. I'm sick of hearing how people can't afford McDonald's. A change of mindset would have them happy to get 2 lbs of fresh broccoli carrots and cauliflower for $1.99 at Ingles.
The two dudes didn't really answer if this was right or wrong?
Folks out here talking about how Caleb just exposed that he doesn’t really know much about personal finances or how he’s getting schooled by people who actually do. What I see is them giving him advice that took them a lifetime of very specific experience and education to develop, picking on him a bit, but also just being super proud of him for getting into to this place and a bit amused that he doesn’t realize that he’s just about made it, or will have made it very soon.
Also, it's not just kids who ask for money. You have to learn to say no to friends as well. I had a friend wanting to move in with me last week. I said no. My friend found a tiny apt and then went to a sit down restaurant right after moving in. I cooked and just shook my head at the friend who struggles to pay rent.
I am over 50. I max out my ROTH TSP at 30,500/year. I also do an after tax IRA conversion to Roth at $7,500 per year. This way I am putting $38k/year into a Roth. Yes I pay taxes (24% Fed) on it but I a working with no debt or mortgage. I will take the financial pain now so I can go to a 12% tax bracket when I retire with my federal pension and Soc Sec at 67. There are lots of low fee mutual funds in the TSP but you can only have up to $250k in these funds.
Hello!
And Bo, I am excited to listen.
4:52... PV=nRT.... that's for calculating pressures, temperatures, and volumes I thought that was simple interest for a second😂😂😂😂
Tell that to my coworker who started showing symptoms on the norovirus at work and projectile vomitted while shitting his pants at the same time for all the see hear and smell. Poor guy just shouldn’t have believed he was getting sick. Yea try to keep that one at bay by a thought. 🤣🤣🤣🤣
Going to use mine for an iPhone 😂
The music and the money being counted in the background is the cherry on top 💀💀💀
This is a teaching him anything, but to be spoiled
People forget that back in the day before the 1900s family helped each other, parents helped their kids get land and so on and then the kids took care of parents when they got older. Today we have this do it yourself mentality that is just wrong
But sometimes you have to just say no. I have a friend who goes out of the country to a resort once a month. Meanwhile, her kids and grandkids are struggling. I have another friend who never cooks at home and always buys new cars/trucks and encourages me to always buy new.
Dam 2 mill views
But who has 500$ to put away every single month starting at the age of 18!!!!?
My solution is not having kids 😅
Scammer vs. Scammer...jeez!!! 🤨🤨🤨
I'm curious to know the term of the loan, as well as how many years are left?
Once I started to make $125,000 a year I been happy since. I don't struggle yes I work alot but I'm happy now. But when I was paycheck to paycheck I was sad and mad all the time
Do people not understand the difference between a write off and a tax credit 😂. Just because something is a write off doesn’t mean it’s free.
Irs slacking .
(Brains troll here)… don’t pursue a career for just money, been there… regret that…
I drive a 10 year old low mileage Lexus I bought for cash last year. Fun car, still gets attention. I paid cash.
And just like that...I got off KZread!
A rare miss from y'all. How are you adding 2% when you preach advisors don't beat the market. Is it almost tax efficiency?
Y’all gonna be really disappointed if communist Kamala gets elected and throws the US into a third world economy. Mutual funds will be useless
Well well well, how the turn tables...
They need to audit this moron
I feel safer with a big emergency fund in a HYSA rather than gambling it in a taxable brokerage
Boomers had it better than their parents and their kids. They were born into prosperity. There were jobs, cheaper everything and pensions. Their prosperity was fought for and created by those before them. They retired earlier than we can now and live longer than their parents-on thousands of dollars worth of medication and social security we pay for. Much of their wealth goes to leisure instead of saving the endless government money for their families. Most of the world would never even think of doing anything but saving for their families well being.
This is fucked up. Keeps the rich richer and the poor eating hamburger helper.
Or you have a meeting once a month and pay the chef to cook for 50 people and freeze the leftovers because "others didn't show up" 🤷♂️
Is this networth millionaire or cash millionaire?
$500 is a lot of money, and most people will not be able to afford that much throughout their lives. It is important to note that you should be putting as much as you can afford aside for retirement, not necessarily $500, maybe you do $100 for most of your life so you can afford to survive, but maybe you get a $3,000 signing bonus when you get a new job and you put most or all of that into your retirement fund, and maybe that new company has a contribution matching system and they put an additional $50-$100 per $100 you contribute. And maybe you sell something you don't need anymore for a couple hundred dollars and put that money towards it as well, or your job gives everybody a bonus at the end of the year and you put all of that toward your retirement. There are also maximum amounts that you can contribute in a year, usually a small percentage of your income, whoch means that an 18 year old who is making $1,500 gross a month, doesn't have to pay rent or utilities, and technically can afford to put $500 in every month would not be able to, because that's 1/3 of their income. Max out your contributions whenever you can, but do keep in mind that you start getting dinged when you over contribute.
There are ways to make money at home, this ain't it. This is worst than is she started them on a MLM but no by much. They are all going to be homeless soon.
Boomers can do whatever they want with their money but, if you're well off, how hard is it to put away a little money each month over 18 years for your kids college and/or first home purchase? If you're not going to do that at least have the decency not to justify it by saying "it builds character".
I love how you expose all of these tiktokers selling courses and then shill your book, website and course as well.
I retired 7 years ago at age 62 paid off my mortgage.. Till date we have not touched a dime of our retirement money. I have 1.5M in my portfolio. It took me 10 years to get to this goal. I started with a reasonable amount through my CFA ‘Dianne Sarah Olson’ My dividends are supplementing my retirement at the moment. It takes time and I invest in good companies every chance I get, and I make sure I never keep money in the bank. I never sell the chicken that lays the egg (dividends). I just eat the egg
Truly It’s all about accumulating wealth through compound interest investments.
Very smart of you sir, you've certainly done well for yourself. By the way i looked up Dianne Sarah Olson and i must say she's very impressive.
I invested and lost my money. maybe i didn't have a goal. Though, I was advised to get the services of a broker. i never listened.
I'll be happy getting assistance and glad to get the help of an advisor, who do you work with and how did you go about hiring them?
I work with Dianne Sarah Olson
false superiority on these two
She’s gonna raise lonely depressed children