50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $52k dividends received in 2022.`

1) Spending on drugs or cigarettes. 2) Spending more than you make. 3) Not investing wisely. 4) Following get-rich-quick schemes. 5) Not having an emergency fund. 6) Having just one source of income. 7) Relying heavily on credit cards. 8) Being scared to take financial risks. 9) Saving rather than investing. 10) Having only one bank account.

THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 52, my husband is 55. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.

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.

The rich are money minded. That is one thing I learnt from the start. I have always wanted to build wealth. I have set out $167k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth. Any recommendations?

Thanks bud for keeping us financially Educated! Regardless of how bad it gets on the economy, I still make over $28K every single week.

THE RICHEST PERSON IS HAPPY WITH WHAT THEY HAVE, NO MATTER IF IT'S NOT MUCH, CAUSE IF YOU ALWAYS NEED MORE TO BE HAPPY, YOU WILL NEVER BE CONTENT.

Never stop dreaming. Be hungry and never stop believing in your dreams. If someone can do it, you can do it. Be strong

With the current problem around the world today I think it's best everyone invest more in digital asset than Saving in banks, anyone you can manage don't live a life with no investment . Just my thoughts

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Lucy Mary Liam

100%. We don't try to impress anybody, debt free AND own a home on a small plot of land. My wife and I drive 20yo cars, don't eat out, no credit cards or loans, found jobs that paid for college 100% and got a degree for free, learned some trades etc. Don't even worry about our credit scores and pay cash for everything, feels great!

Saving Is Good ..INVESTING Is Better !!!!!!!!!!

Startıng early is the best way of gettıng ahead to build wealth, investıng remaıns a priorıity. The stock market has plenty of opportunities to earn a decent

When you're rich and everyone around you is broke,then something is definitely wrong with you💯👌We rise by lifting others up💪

Please I need someone to help me trade or invest the forex or crypto market because I’m tried of trading in losses myself. I’ve blown my account twice and it’s frustrating..

Being successful don' t happen by magic Success is dependent on the action or steps you take to achieve it. Show me a man who doesn't have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be 700 guaranteed.

Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is a key factor to wealth. Start now to get your money right by investing.

#11: Don't invest good money in a bad spouse. #12: Don't make enemies of people in powerful places, especially in government. They will use the system which is free to them to destroy you. You must use a legal defense which is not free to you. #13: If you have accumulated money from your endeavors, keep it your secret. Money draws thieves like shit draws flies. Getting money is the easy part, keeping it is the hard part.

Investing is considered a bedrock in making generational wealth. Most people don't know when, where or what to invest in. Fortunately, great investors of the past and present can provide us with guidance and ideas. Meaningful contributions are always welcomed.

I find the more people show off the less money they have.

I love how you started with “stop” buying drugs. Majority of my money goes to weed and food and the more I smoke is the more I eat lol bruh! My future self is already proud

Credit is whats keeping you all poor, they want you to keep a good credit score but in order to do that you need to stay in debt.

Wise advice, keeping an eye on your money is so simple yet so truthful. I use to make the mistake of GUESSTIMATING what I was spending. Now, I bring my lunch to work, eat my breakfast at home, and I keep track of ALL spending.

I'm 20yrs now and really liked the video cause am now getting to know more about Life. Managing your finance wisely will make you a good life.

This should be taught in grammar school, high school, and college, with increasing sophistication.

Peer pressure is definitely a factor that can start early on. I remember in the high school days (I grew up and live in London UK), where, when I was about 13 my family moved to another part of the city, and at the school a lot of the kids were fashion focused, and you could get mocked for wearing non-brand name clothing and footwear. It happened to me several times. This kind of pressure had kids persuading their parents to buy those fashion label clothing and footwear items that were seen as 'cool', purely because they didn't want the reputation of being a 'loser' by not wearing the 'right' clothes. Looking cool was far more important than sensible spending. By the time I got to college I was fully on board and I can remember on occasion spending an entire week's wages on a pair of running shoes, only for them to be pretty much ruined after a few months. I guess we didn't know any better back then. But it definitely started early.

Ernie's family did some failed food establishments...but they were mostly bricklayers, and concrete workers. So, by the time Ernie hit 62, he had been working 48 years, at low wages. He bought the house with 3 other relatives! Ernie retired at 62, started selling produce, and trees from his garden/greenhouse. He got containers for free. etc...etc. Ernie paid his expenses in retirement with the cash he earned. By the time Ernie's wife died, they had assets worth $500k. The home was mortgaged with survivorship rights......Ernie's wife won the tantine. (she lived the longest, and shockingly gifted the home to ONE daughter only, whom took care of her in old age).

A ”rainy day” fund is one of life’s absolute necessities. And keep it to yourself....not even my wife & kids know that I have one. As the old the old saying goes, ”You never know what’s around the corner in life”👍🏻💰💰

Even with the current dip in cryptocurrency, I’m still glad I can smile 😊 back at my portfolio of $105,850 built from my weekly trade, I’m having my fourth withdrawal in 10 business days.

I have been trading for about 6 months now and just about every trade backfires and slaps me in my face. Nearly impossible for me to catch more than a few points. I try to do top down analysis but it doesn't work for me. I say to myself, clearly I'm in the 90% that lose money, so I open a demo account, do my analysis, then take the opposite of what I would normally take and get the same result. I'm starting to feel hopeless, any advice for a struggling trader?

your ability to break down economics for the average Joe and Jane to understand is top notch. You really need to create a course on trading stocks for the retail investors. Thanks for all this great content and information. Lastly get those likes up folks and share this video

Your income should be diversified now. The finest choice a person can make is to generate passive income. It was the best move ever for me to invest in crypto. Diversifying your sources of income is the best way to ensure financial security.

Building wealth is in your mindset, work on that and your financial potentials becomes exponential, develop good habits like regularly putting money away in intervals for investments .The stock market has plenty of opportunities to earn..I was able to grow to 7 figures on a diverse portfolio strategy spread across bluechips, top etfs and coins . my broker Susan Kay Mack, handles all my investments and ensures I stay above the market

A store manager, retired when I was 17, and he was 55. He said, he made very little money, but took 15% of his takehome, and invested in stocks. Then he paid his mortgage off (by borrowing against his stocks, likely no longer allowed, he never paid tax on the "capital gains", but legal at the time). Then he repaid his loans to himself. Since his mortgage was paid off in his 40's, etc, he had like 3/4 of a million in stocks. He got lucky, yes. but he didnt blow the money because he had a windfall stock once, he sold it and got out. He lived in a 2 bedroom home. He didnt discuss money with his wife. Otherwise, she would have made him buy a bigger home. That, was about 1980. VietNam ended, 1975-ish, so, the country was doing well. Ah, the Regan years.

What makes us poor is the govt taxes.

also remember time is important I never saved a penny then when I hit 50 I was like SHIT !! I have no money and this hit me like a tone of bricks .all becuse I didnt pay attention to TIME .I just thought being 20 i had loads of time .then again at 30 .then again at 40 !!! right up to now at 50 ...and seriously getting to 50 was soooooo fast .so remember you have no time .better than right now to START SAVING!! otherwise like me you'll be 50 with nothing 😡

I recommended a professional broker to you guys sometime ago,can i get person who invested with her Comment below

As the saying goes - Why live poor in a Rich Man's neighborhood, when you can live Rich in a Poor Man's neighborhood. That's not saying you should live in a dangerous poor neighborhood, but in a lower median income area than your earnings. Note: Making $100, 000 in a lower Middle class neighborhood is preferable to making that same $100, 000 living on Millionaire's roll. Gotta find that sweat spot and you'll be fine.

Stop buying the things that are over-priced, for example, when I saw that beer can cost $50-60 for a case of 24, I stopped buying them, I got used to consuming less beer, and now I only buy 2 to 4 455 ml cans per month at approx $2.00 ea. I stopped buying beef because it hit $18 - 24 + a kilo. I only buy it when there's a good sale. (I apply this to almost everything) people need to stop buying cars that take them 7 years to pay for!!?? Why don't enough people even notice that $30,000 + for a regular new car is absolutely ridiculous, and worse, pick-up trucks that will set you back by about $ 70,000 - $ 80,000 + ???!! Wow, I guess I must be wrong if I think for a minute that $ 80,000 is a lot of money!

Thank you for this video and the main reason I stayed with it was bc you moved along without dragging out the info. Your precise delivery was extremely appreciated

When I was 23, an accountant/friend had me keep track of every penny spent for one week. Aside from careless purchases like those mentioned here (thank you!), she found that 67% of all my cash was going to buying things for other people -- at the drugstore, 7-Eleven, grocery store, department store. Young people need to get smart about this one!

Learn to cook for yourself, and use extenders when you cook that are inexpensive (I.E.) Adding pasta or noodles to make a larger meal instead of just chicken or meat. Immediately place those you can use into lunch containers, and freeze those leftovers for extra meals! Bring your own lunch and coffee.throw a tea bag, or a lemon wedge, or a cucumber slice into your water to go instead of buying expensive drinks.. Use a crock pot (cheap at thrift stores!) to make meals. You come home to a nice meal, and it is inexpensive on the electric bill. Frozen veggies are cheaper, and they are easy to add to other meals, and save some for no waste. Thrift shops have so many deals...you can buy clothes for next to nothing. Buy socks, underwear and shoes new, tho. Buying linens from thrift shops is fine, IF you wash them upon coming back and heat on high for 20 minutes or til dry. Look for chairs, tables, small appliances at thrift stores also! Try before you buy and look for color of the day sale items! Good Luck, and don't forget to compost those veggie and egg shell, coffee and tea scraps into your soil for summer gardens!

Getting rich off crypto is much tougher than it seems. I keep losing money while trading with these youtub videos, and finding a trustworthy professional trader to help out with these trades also appears to be nearly impossible. This is extremely annoying

Very true: addiction keeps you poor.

The worst thing people do is to waste money on things you do not need, and not looking for bargains that occur all the time!!!!

My dad buying Cigarattes for >40 years cost same like a price a decent house with 3 bed room, 2 bath room. or a decent family car. after smoking for 40 years+ now he must go to doctor every week cost even more than a cigarattes but he seems wont stop smoking even his healt is getting worse... That make me so angry and HATE Cigarattes so much. Cigarattes is stole a lot of my family money and destroy my family health. I wish the world ban Cigarattes soon

Spending more you make that's my weakness,right now I have stop,I will use money wise

Yep you need at lest 10k for a rainy day or for when the boss don't like you anymore which can and does happen every day to someone

Keys to success 1) Have a dad that owns an emerald mine in apartheid South Africa. 2) Inherit $300,000 from your parents to invest in Amazon. 3) Have a father that is in the most influential position in the country make backdoor deals with energy companies in a former Soviet country to have you be a "consultant" despite having no knowledge of the industry, just be sure to send a cut to "the big guy" and not leave your laptop full of incriminating evidence at a repair shop. 4) Never underestimate the power of nepotism.

as a active smoker, if you’re smoking a pack a day, you’re going to have way bigger problems than financial freedom 😂

I will forever be indebted to you Mrs Victoria and this channel you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs Victoria Olga.

Investing in today is priceless because tommorow isn't promised, trading bitcoin, gold, silver and Crypto secure a better tommorow.

There is a way out of every stumbling block and error. That sense can be problamatic because you always think spending is ok this time around. In my case a private university cost me $35,000 a year and I attended for 5.5 years to finish. Once out I was gifted a sizable amount -- what did I do? I bought a brand new truck. It took me 4 years to pay it off completely and an additional $4,000 was added in interest. I lost $12,500 when I sold it 6 years later. My university costs almost led me to bankruptcy. I managed to keep up with payments with help for a while before receiving a grant that paid off both programs including a graduate program later on. I think the hardest thing aside from having debt is returning to it after all that you have experienced. If there is any lesson in all of this -- do not fool yourself into a standard of living until you receive approval from the ones looking out for your best interests. In my case my mother, father, brother, and all my closest loved ones all need to be informed. There. That is what I needed to say.

The best decision I ever made in my life was investing in financial market. Trust me guys, it pays!😊

Having a emergency fund saves you paying top dollar for insurance,I had been paying $1100PA for car insurance even with 30 years of no claim history on a $50K car I changed companies and increased my excess from $500 to $2000 and the policy now cost $420PA its a risk I can afford to take and the saving's is worth the risk

As a former smoker, the amount of money saved is ridiculous. Btw since Australian gov’t doesn’t want people smoking, it cost $39 per PACK!!! THAT’s financial incentive!

My version of the last one: I have $2,000 in a regular 0.05% APY savings account at a physical bank for daily things and bills. I than have 3 account with Betterment: $8K in cash reserve 0.40% APY account (cash reserve combined with savings makes 1 year emergency fund). I than have $5K in a 85/15 bond/stock taxable account for 5 year plan goals or anything similar, and than $6K in a Roth IRA 90/10 stock/bond which i won't touch unless it's a last resort. As long as i have my emergency fund, I'll keep contributing the $6K/year to my Roth IRA and put the extra in the bond account. Anything i need to change?

But seek first the kingdom of God and his rightenous, and all these things shall be added to u.

All of this is fine and dandy when you have the opportunity to given to you in means of money in the family, connections that can offer great paying jobs, and invest advisors at the ready. Can't invest money when so many of us love paycheck to paycheck barely clearing enough to cover the bills, travel expenses for work, and foregoing any extracurricular activities. We buy vihicles that are more then likely going to break down within the first year. Credit scores are too low to even get approved for a credit card, an auto loan, or anything else that would help us get ahead. I'm lucky to even have enough money to pay all of my monthly expenses and then have a little left over to do things, anything. The only reason is that I work two jobs and that usually has me working 12 to 16 hours a day for 7 days a week. I don't live outside my means, just hard to get paid what a person is worth these days, because every company is trying to only hire entry level employees and keep them at the entry level pay no matter what. Just a dollar raise an hour barely gives a person anything. It's more like a slap in the face.

*In a nutshell, your health, wealth, happiness, fitness, and success depend on your habits*

Actually, Chuck Palahniuk said "We buy things we don't need with money we don't have to impress people we don't like"... Dave Ramsey rebranded it.

I live in Canada and finally quit smoking but still smoke lots of weed and when i was smoking cigarettes and marijuana i calculated it out to about 600$ a month and that discovery blew my mind.

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.

Here is another one: paying others to do something you can do yourself with a bit of research. Examples include cutting your own hair, basic home repair, fixing your bicycle, fixing a computer issue, trading used books instead of buying them at the store. There are many resources available to teach yourself skills. KZfaq offers thousands of tutorials on many subjects.

I'm new to Bitcoin and would like to invest. But I've got no idea on how to make real profits. Can someone please tell me how to go about it.

I take my coffee or juices with me from home. I never eat from resturaunts. I buy my clothes from second-hand stores. I don't go to the movies anymore. I am happy!

Rich people dont think they are rich ,poor people dont think they are poor thats why they still holding same financial situations.

Despite the economic downturn, I'm having the best time of my life financially. Earning over $83k in the last 2months with an investment of $19,000. Money can be made even in a bear market. Make the most of it.

it's all in perspective,I'm 73 not rich not poor yet I have a healthy life,health is wealth

Investment in knowledge will always give best dividend.

You can really be so rich like these millionaires by working your ass out, most of them don't even work upto 3 hours everyday, they earn passively from their investments which most minimum wage earners don't do. Life is sweet when you have different sources of income. Invest in something to expand your earnings. We have a lot of investment opportunities now, I invested in cryptocurrency and its paying well, if you can't invest in crypto, buy stocks, invest in real estate, be a freelancer, blogger, or you can even be a youtuber if you can create Content.

Yess..When I was in Siberia labor camp,we made everything stretch..I saved enough to buy my freedom..now I build acme 5x24 series time transducing capacitor with built in temporal displacement and AMD dimensional warp generator modules containing the grc79 induction motors..ty for your video..happy travels🚀

Only if a good amount of folks do what you teach, just imagine how many millionaires we already have or will have in the future. Not the sad statistics where at least 50% of people are living paycheck to paycheck, even for high income earners. Great contents as always!

One thing I have told myself is that I will never have a credit card until I had a stable job/income where I can pay it off easily. I will be 22 in July and have never had a credit card!

I can't even tell you how satisfying it was towards the end when they talked about multiple bank accounts. I have been doing that for a few years now and it works out so much better than you will initially realize. I divided them up in the exact same way this video spoke of. Totally speechless seeing them explain past actions I had taken. Very fulfilling.

Would love more content on legal insurance and security on trading the general market under expertise and would love to sit, listen and learn or negotiate with the most deserved marketing consultant ever.

5:38 (5b) HAVING an emergency fund, but having it in a place that requires you to visit the bank lobby to get to it, only to not have access at all because all the bank lobbies are CLOSED FOR THE FORSEEABLE FUTURE due to the Covid quarantine

What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?

Cut up your credit cards. Cash is best! If you’ve haven’t got the cash, don’t buy it!

Money making mistakes 11 : GETTING MARRIED. 😒👰👶👶👶

In terms for the rental properties this is why you MUST go through a strict tenant interview or screening. If you hire a management company they take a percentage of your income, however you are paying for peace of mind and their experience. In regards to property depreciation, this is a reason why you must conduct market analysis of the areas you are looking to buy in. See what areas are growing or have the potential to grow with smart growth concepts. Make the smart purchase at a lower amount, just because the home is listed for that amount doesnt mean it has to sell for that amount. That is the purpose of a negotiation.

Get rich quick schemes are definitely an issue, can’t believe people still fall for them :(

For me! I don’t smoke, make my own coffee and buy a car every 8-10 years !

I disagree with the suggestion to always pay cash, I rarely pay in cash, I love my credit card benefits and cash back. If you can be responsible and pay off your credit card every month so its always at $0, you never pay interests and just reap the benefits.

$ 9 dollars and 8 cents for one pack of cigarettes, I'm so old that I remember a pack of cigarettes costing either 25 or 35 cents per package - from a machine ! When I was a kid (before the civil war) a place up on Garfield blvd sold coffee, like beer, for 5 cents. The other day at Starbucks (granted slightly more foo-foo) my 'coffee' came to between 5 and 6 dollars. Anyway, personally I think a person is better invested in the quality & not obsessed with the quantity of thier live's. Smiles are truly golden; and if a pack of cigs or the crazy-ass coffee from Starbucks brings you one... If you had some way 10 billion years from now to look back; I'll just bet you'd probably say to yourself 'damn, I wish I'd a gone-ahead and enjoyed that smoke, that drink, trist or whatever'. You'll only have the chance to live - right now.

Gambling is a way many people lose money. Also collecting things that cost money to maintain. If you collect watches they need servicing. A guy I know bought a Rolex and paid 600 to have it serviced because it was not working right. Some people have so much stuff, and it's really hard to get rid of your stuff when you realize you don't need it. It takes commitment and energy to get rid of or sell off your unwanted stuff. Living with a minimalist attitude, is a path to consider. How many pairs of shoes do I need? Jackets? I buy nice wool sweaters on Ebay or in second hand stores and I bought a Hugo Boss wool sweater for 6 Euro in perfect condition. I wear it a lot bicycling. I have learned to be frugal and learn to save by being curious and trying to be smart. I only need one bicycle to commute, tour, and shop. And if you ride without a competitive attitude you save energy, wear and tear on bike, your body, and so on. I contemplate buying another bike like a single speed, but the gears are useful. I won't go the ebike route because I think they are ugly. I have been able to accumulate a lot of money just buy not driving a car. Also, trying to stay lean and healthy. But don't be a fanatic. I do buy high quality meats and cheese. And I enjoy life. I enjoy cooking at home and keeping it simple. The main thing is to live within your means, and don't waste time shopping, window shopping, for stuff you don't need like new cologne at 80-100 or more.

Buy land , build house. I saved up for a building lot. Then saved up for concrete built the shell. Then i saved up for windows and tile. Then saved up for bathrooms and closets. End result, Paid for house no mortgage interest. Did it again , end result , two paid for houses kicking out rental income , retired at 56. Moved to Asia where everything is cheaper. Bam I won.

In 2018 I took the first step in building my wealth. Move to the city get good paying job will make 100k first time in my life and will have 100k save up in 2 and half year. Will start my Roth IRA account January or February will put 2k in it I’m well on my way to become financially free. Will be debt free in 2023 my goal is to hit a million by the age of 35 I’m 30 now ✊🏿🙌🏿

Too me being well off would mean having an average residual income coming in with plenty of time on your hands.A few nice things yes but more time for hobbies would mean a lot to me.

It is so true and its all about our family they spend all there money just to show off it was a reach but now through v hard time they don’t know how to cope up with the situation 🤨👍🤔

I have a weird way to make myself save even more. I would just go to youtube and watch videos of people suffering financially or watch documentaries of low-income families struggling to make ends meet. By watching these videos, it will make me so scared to be in their situation and thus make myself to save save and save.

Credit card overspending, high house rents/mortgages, addictions, not budgeting before going to the grocery. Just using my credit card to build up my credit score. Spending only 10% max of my allowance. Avoiding too expensive accomodations. I'm using 25% of my salary for renting. I just found out I've been overspending on grocery shopping. From now, I'm planning to spend no more than a fix amount per week. I think 25€ should be enough. This way, I can save 60% of my income

Most important points: Never ever let your friends borrow your money cause they will never return the money

Goes with mistake number #1. Alcohol and gambling. I know people who don't smoke but spend hundreds a month trying to win big at the casino. I am guilty of saving too much, but the peace of mind that allows me to sleep at night is worth something more than money.

I'm not poor , I have an abundance of wealth within and outwardly . I'm not poor .

A wise man once told me, If you buy something etc. car ,motorcycle if the payment for the purchase is more than what you make in one weeks pay! YOU CAN NOT AFFORD IT>!!!

1 Spending money on any type of addiction 2 Spending more than you make stop impressing others no competition 3 Not investing wisely 4 Falling for get rich schemes 5 Not having emergency funds 6 Just having one source of income 7 Relying on credit cards and uncontrolled spending 8 Invest take risk index fund 9 Invest instead of putting money in saving 10 Having a few bank accounts 2 to 3

Unfortunately, there is no reliable means of "investing", that will provide a worthwhile return. The possibility of losing your money, still exists.

you can do this, or do the asian way.. 80% of what you earn goes to savings and 20% goes to both expenses and leisure