4 Signs You Are Above Average SCARY Money Stats (Even If It Doesn’t Feel Like It)

Рет қаралды 1,084,421

Күн бұрын

Do you feel like you are behind financially? Here are 4 signs you are above average (scary money stats that will shock you). This is the video where you can see how well you are doing financially. In the United States of America, there are a lot of people who look like they have money, they look like they have a life altogether and look rich. But the truth is many Americans don't have much money. If you watch this to the end you may learn that you are richer than you think. Here are four money stats that may scare and shock you, but at the same time, you may find out you have more money than the average American.
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Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
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Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.

Пікірлер: 2 000

@jimwest1967 Ай бұрын

rich people stay rich by pretending to be poor, poor people stay poor by pretending to be rich'

@Shutityou Ай бұрын

I like that. I live in a fantastic house and continue to invest in it by working in it, BUT my vehicles are modest and usually 8 years old when I buy them. I buy them for economy and reliability.

@rickyroan4651 19 күн бұрын

10 điểm 10 points

@danklein8587 9 ай бұрын

I am the wealthy guy that drives a 12 year old Camry and loves to look poor. It keeps the Gold Diggers away -:)

@Lemarchelesa Ай бұрын

Agree w your choice of car. Love Camrys, and Toyota in general.

@enriquesanchez2001 Ай бұрын

ABSOLUTELY ♥

@donaldprince7853 Ай бұрын

@@enriquesanchez2001 real way to live. people think they need fancy, it is only transportation from A to B I drive a 13 year old car and have a 26 year old pickup. I do spend for my wife a little though she hauls the kiddo and grand kids around so i make sure they are good. I keep my cars until they just plain stop running or the wheels fall off. age 51 and need all the savings and investments i can so i dont have to work until death. fulltime at least. LOL

@johnqlunchbucket Ай бұрын

Me too! 👍

@user-gn1qo6cu1n Ай бұрын

I drives a 20 years old Camry and wealthy, but lives fugally and happy

@gillesthibault367 3 ай бұрын

Forgot to mention TRUE wealth is your physical health

@ronaldross6950 Ай бұрын

That is very good, but truth wealth is your walk with GOD.

@stevenweiss2148 Ай бұрын

The "poverty' in Jupiter Florida is apparent

@mcohan6854 Ай бұрын

Why Jupiter FL?

@anitaostrander4301 Ай бұрын

Speaking from experience , you need wealth to take care of your physical health…there was a time when I did nit have enough to see a doctor and when I could finally afford proper care, it took me two years to get my health back

@quengmingmeow Ай бұрын

Amen, brother! Stay as healthy as possible so you avoid the healthcare system nightmare as much as possible.

@mrboom4570 6 ай бұрын

Retired at 61. Zero debt. Over 1M invested in stocks. I drive a 2000 minivan and a 2018 pickup. The secret is to live below your means and be happy with family and life and not stuff you buy.

@tengri23 5 ай бұрын

This is it. Everyone has a threshold in their head, the amount which would help them retire. Truth is all you need is a decently sized emergency fund so that you don't have to worry about Healthcare, and 1 house so that you don't pay rent. Other than that, basic amenities is all you need.

@DAMON409 5 ай бұрын

Nobody cares

@tengri23 5 ай бұрын

@user-nt4nb4cn1j Looks like it does bother you. You seem to care. Insecurity is a b**ch! Jealous much? 🤣🤣

@TheTungdil2 5 ай бұрын

Yeah well my grandmas grandma retired at 3.

@nicolasgirard2808 5 ай бұрын

Yeah but you also need most people to waste their money on consumer goods so that your stocks perform well

@Ira06002 5 ай бұрын

I know a guy: 1. who lives in jeans 7 days a week 2. Never owned cable TV 3. Always brought his lunch to work 4. Never bought a new car 5. Worked 2 jobs 6. Took a vacation once a year 7. Mowed his own lawn 8. Cleaned his own house I’m that guy at 62 and very happy in my life.

@jimsteinway695 3 ай бұрын

I know a guy who had no money for education joined the military, used that for the GI bill, got his engineering degree. Married his college sweetheart. Worked on jet aircraft Bought all kinds of new cars including Porsche. Ate at good restaurants. Went on nice vacations. Mowed his lawn had 2 cool kids Retired at 51 Living well in the Pacific Northwest With tons of savings And I’m pretty damn happy

@martywilliard 3 ай бұрын

@@jimsteinway695 JUST EXCELLENT !! Student debt - car notes and heavy consumer debt CREATES economic slavery. Bravo to you for not embracing the madness

@tacotom3492 3 ай бұрын

@@jimsteinway695tell us more about yourself ... "Cool kids" 😂😂😂😂 🙄☠️

@georgiafrancis9059 Ай бұрын

@@jimsteinway695 Sounds like you got a book in you, Jim Steinway. I'll be looking for it on Amazon. Your name says, "There's a best selling author." You name is very marketable.

@belinda8044 Ай бұрын

I know a girl who has never been to a hairdresser \ never had her nails done \ buy clothes on ebay \ mows and weeds her own yard \ sold the car and enjoys long walks and public transport \ brings lunch to work every day \ stopped contributing to work lotto \ pay bills the same day of receiving \ does not drink coffee \ deposits 98%of her wages into an online savings account and\or retirement investments \ crochet rather than scroll mindlessly on a phone \ never ever visits any social media \ donate bags and bags of clothes n boots if not worn in a year \ zero subscriptions as she has Plex media servers \ - that girl is now 60 and very happy

@kittydaddy2023 10 ай бұрын

I was below average before I watched this video, and now I'm above average. Thanks.

@randallhoover210 3 ай бұрын

Love that comment!

@kittydaddy2023 3 ай бұрын

@@randallhoover210 I just found out women don't think 100k/yr counts as "six figure income". We lose again!

@livelovelearn360 2 ай бұрын

@@kittydaddy2023😂😂😂

@livelovelearn360 2 ай бұрын

If 100k ain't 6 figure I don't know what is then lol

@MicheleOngaro 2 ай бұрын

@@livelovelearn360 they probably only see 0s as figures..

@hollyb2039 18 күн бұрын

Mom at 16. Graduated as an RN at 21. Bought first house at 23. I was raised poor and on a mission not to stay poor. I have always put in 21% of my paycheck toward my 403b, since age 24, maxing out my allowable contributions by October due to overtime. I have bought, lived in, and turned 2 homes in nice neighborhoods into rentals. I made double house payment for years. I just turned 50. Set to retire in 1-2 years, on my own income (single). I just bought a trailer to live on my kids’ property a week or two/month in San Diego. I work part time now. Grateful all this hard work is paying off so I can focus on what I love, traveling and being a hands-on grandma. I have always lived frugally in my daily life (make my own coffee, never order drinks in restaurants, rarely go out, buy used cars for cash, never had credit card debt, but always splurged for regular vacations, 3-5x/year.

@joeypolashenski2655 3 күн бұрын

Wow we don't care

@BB-nn1tu 2 күн бұрын

@@joeypolashenski2655 Yes, we do care. It's inspiration.

@ChristopherAbelman 2 ай бұрын

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough savings during their active years. Retirement choices determine a lot of things. My parents both spent same years in the civil service, but my mom was investing through a asset manager, and my dad through the 401k. My mom retired with about ‘4.2M’, but my dad retired with roughly '$1.8M’.

@PennyBergeron-os4ch 2 ай бұрын

For retirees and those close to retirement, I believe it's particularly challenging. All those years of labor only to lose it all to a problem you weren't responsible for, my regrets to everyone retiring during this time.

@FinnBraylon 2 ай бұрын

It depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an asset manager. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape. I have about ($1.25m) in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little in retirement accounts. To be completely honest, the information provided by managers can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.

@HildaBennet 2 ай бұрын

Impressive can you share more info?

@FinnBraylon 2 ай бұрын

’Sonya Lee Mitchell’ is the manager I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@HildaBennet 2 ай бұрын

I searched her full name online and found her webpage. I emailed to make an appointment to talk with her; hopefully, she gets back to me.

@bryanwilson928 5 күн бұрын

I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million

@Charlotte03849 5 күн бұрын

You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

@ronaldfauver1469 10 ай бұрын

I find a nice dependable car that I can pay cash for...then I drive it until the wheels fly off!!! Car payments will drain you.

@tacotom3492 3 ай бұрын

It feels great my friend .. rolling in the 2013 Maxima with 0 car payment to a pretty good job isn't sad ❤

@stevesmith3556 3 ай бұрын

Yep. Even if you pay the maintenance on an older car to keep it up, there's no nagging monthly payment. I have two 180k mile cars, and they work fine. Point A- point B😊 most cars last 300k+ if you keep up regular maintenance. I'll still probably be driving them 15 yrs from now.

@martygavin7679 3 ай бұрын

I plan to chauffeur each of my kids to their respective weddings in my used 2016 Honda Odyssey (which I’ve held the note since 2018). I doubt they will accept, but the offer still stands.

@dougbodenhamer9391 2 ай бұрын

Same here.

@sterlingcampbell2116 2 ай бұрын

Cars payments, gas, insurance, mechanical costs

@kevinl6231 2 ай бұрын

Buying a house and renting it out? No thanks. Landlord headaches. Trust me.

@wongman2001 28 күн бұрын

No if you have tolerating tenants & a DIY guy. My 2 family house in NY paying for my current mortgage

@danielgant2214 27 күн бұрын

Totally depends on the tenants, I’ve had the same couple for at least 6-7 years, pay on time every month, keep the house looking great and fix most things that come up, they treat the house like they own it. But I’ve heard horror stories about bad tenant ,

@mikebarrett8681 2 күн бұрын

Finding the right tenant, first priority!

@marlinpanther5613 Ай бұрын

I read the book "The Richest Man In Babylon" by George S. Clason in 1972. The book came out in the 1920s. It is still available today. It is the best financial management book I've ever read. I followed its advice and became financially independent when I turned 55. I am now 82 and still financially independent. I liked your video. Thanks.

@massagegarage9261 2 күн бұрын

10% of what you earn is yours to keep forever.

@jameschaves5723 10 ай бұрын

I’ve been in the nursing profession for over 25 years. From day one I used dollar cost averaging to maximize my 401(k) and IRA. I always brewed my own coffee and packed my own lunch ultimately saving thousands upon thousands of dollars. Today I’m 52 years of age with $1.6 million in net worth Looking forward to early retirement.

@YanilleCastillo 10 ай бұрын

Well done .🙏❤️👍👏

@JerryPinkas 10 ай бұрын

Cheers to your success. Thank you so much for sharing your story with others here on this channel. And thank you for watching. I’ll see you in the next video.

@geod3589 10 ай бұрын

I drove my beat up 1981 Mustang for years while my co-workers bought new Trucks, cars, etc every 2-3 years. At 277K miles, I rebuild the engine and put in a new clutch and drove it about 9 more years. . I put the maximum into my retirement acct. at work each payday. I did not buy a new cellphone every 6 months. I lived in a modest house. Retired at 62 with just over $1 million net worth. All on a salary under $60K People need to live a frugal life, not be seduced by the glitter out there.

@nyredneck63 10 ай бұрын

Cheers 🍻. I love hearing that. Would you count the equity you have in your home as net worth?

@YanilleCastillo 10 ай бұрын

@@geod3589 that’s true wealth I’m so proud of you I had such bad Habits doing everything u just wrote tilll about 2019 before pandemic my eyes got open paid 55k in credit card debt off I have one car loan about 10k left and student loan of 47 then my mortgage . I know if I get focused again if I was able to pay off. The credit cards and cut them and l never use them again and stay focused I can pay off car keep it for years and then student loan then mortgage and investing i I currently invest 2 k a month I’m a registered nurse . Make about 120 k a year in miami Florida. Would u just lower contributing to what employer matches which was 1% but got email just a month ago it’s going up to 3 % and throw that 2 k off to car loan and student loan . I had to get a Malibu 2023 because my paid off car my son was hit by a drunk driver and he left the scene . Thanks in advance for your wisdom . Made so many mistakes in my 30’s now I’m cleaning up the mess . In my 40’s I wish I would of found this wisdom earlier in life 🤦‍♀️🙈🙏🙏🙏

@josephalmond3759 4 ай бұрын

Retired at 94. Enjoying wheelchair racing on weekends. Still have four natural teeth.

@zzbudzz 3 ай бұрын

Lmao 🤣😂🤣

@dyates6380 3 ай бұрын

LOL. Love it. Hahahaha.

@davidbrooks8809 3 ай бұрын

Smh😂

@alexisleon23 29 күн бұрын

Mate you should retire earlier

@mary1326 3 ай бұрын

I sold our house in a very large city, and moved to a smaller city. House was paid for, and when I sold it and moved to the lower cost of living city, I paid off the new house and pocketed a few hundred thousand. Best move ever.

@TheScrubmuffin69 3 ай бұрын

Wow how fucking lucky you that you just... owned a house in a big city. How incredibly lucky.

@TheScrubmuffin69 3 ай бұрын

I'm 28, how am I supposed to buy a house in a big city and then sell it for a profit later? When we can't even afford basic shit

@Maynardd 3 ай бұрын

@@TheScrubmuffin69 ask yourself why you can’t afford basic shit.

@mary1326 2 ай бұрын

@@TheScrubmuffin69 I paid this house off over a period of over 25 years after saving for a downpayment that took over five years.

@chasebailey3721 2 ай бұрын

@@TheScrubmuffin69 You have to be a baby boomer and bought the house in the 70s for $50k.

@Me97202 Ай бұрын

Lived *below* my means my entire working life. Saved money every month. Never ever used credit cards. Retired at age 60.

@MikeLikesChannel Ай бұрын

Living like a college student until you’re 60 sounds like hell.

@stevesworld620 Ай бұрын

25 years ago a colleague chuckled i was living like a college kid. said I wasnt living... i retired a few years ago, early 50s, a multimillionaire... he's still working and he turns 70 this year... who's living?

@big6316 Ай бұрын

It is but never being able to stop being a wage slave to people who don't have your best interest in mind and are dumber than you is worse.

@Me97202 Ай бұрын

Not necessarily like “a college student.“ Living responsibly, and within your means, but still having fun.

@curiouspenguin6887 Ай бұрын

Most college students are getting deeply in debt. How is being debt free living like a college student? 🤔

@spazzman90 Ай бұрын

Not living like a college student. Just living within your means. Way too many folks out there spending hundreds every month just on interest on crap they didn't really need. Also, if you're in your early 30s, just investing 5% will produce life changing numbers in 30 years.

@hans-georgd.1095 10 ай бұрын

The first few minutes remind me of the old saying: “New money screams, old money whispers”. It really is better to whisper…

@solidsnake7167 Ай бұрын

Yes I get it and nothing against the principle of what you're saying but theres so many people in these comments preaching about their frugal lifestyle to the point where its mind numbingly condescending and preachy. If someone prefers to ride a bike every day and bring a bagged lunch then fine but heres the ultimate thing - its all relative. Someone that earns 200k per yr individually in florida for example can afford nice things, enjoy the finer things while still saving. It's a bit different than someone making 65k their whole life. And while someone can preach on and on about never taking vacations or enjoying anything awesome in the spirit of having exta money when theyre 70 then well...sounds like a crap life to me. Making more money solves everything.

@drumyogi9281 Ай бұрын

That is the dumbest shit I’ve ever heard.

@wongman2001 28 күн бұрын

Retired at 53 before COVID with 3 grown kids. Bought a $96k house in Queens NY and our rental income pays the mortgage. No other debts, never had a new car. Drives a ‘12 Prius & Seinna now (did had my fling with 3 German cars in succession once). Sitting on a $3.5M portfolio & slowly withdrawing for normal expenses . Been living below my means & happy. Yet deeeep down, I wanted a Miata😁

@maryellenrittel7778 9 күн бұрын

Me too!

@GoofballFlyer Ай бұрын

Coming out of a divorce 23 years ago I had no home and about $750k in financial assets, but zero debt. Then a year later I lost my $200k/year a year job to a downsizing, but received a $250k payout and a pension. So, I went into business for myself, remarried, bought a house with the payout, and put every penny I could into a self-employed 401k. Paid cash for every purchase for 23 years. No cash, no purchase. Now approaching 80 and fully retired for 3 years net worth is north of $3 million. It's NEVER too late to start over!

@GUITARTIME2024 27 күн бұрын

Dad? Lol

@rangerdoc1029 10 ай бұрын

True wealth is living within your means & having time to do the things you enjoy when you want to.

@docrw 10 ай бұрын

TRUTH!!!

@Lookup2Wakeup 8 ай бұрын

That's true. But not so much if you are on your own......

@rokyericksonroks Ай бұрын

I’ll buy that.

@MrPrimoPR 10 ай бұрын

People/ couples sometimes don’t realize that love and happiness jump out the back window when poverty and debt como knocking at the front door.

@covercalls88 10 ай бұрын

Being retired my income is basically SS, a couple of IRAs, about 5 months emergancy fund, and a stock market account. My saving grace is my house and car is paid for.

@kennethneveski1892 10 ай бұрын

Good, positive message. But at 62, I've realized that not only is personal wealth important for retirement, personal HEALTH is even more crucial. Bucking the trend for most, I lost 80 pounds back during COVID. Finally started eating right. Kept working out at gym, doing exercises targeting strength for older age, especially hips, legs, back, shoulders, etc.. Now I can continue to work and earn good money doing a physical job that I enjoy. I'll do it for 4/5 more years before my nurse wife and I retire. Now I see some high school friends of mine, similar age, some of whom are already retired, either by choice or health circumstances. Many are starting to look weak, feeble, frail, hunched over while walking, etc... in their early 60s. A few unfortunately have passed away either from cancer, heart issues, bad choices, whatever -- and many of them were doing well financially in their lives. Now they'll never enjoy their Golden Years. Thus, good physical health for you and your loved ones (my wife is recovery from breast cancer, doing great in recovery) is probably more important than anything else. If you don't have that, you have nothing, no matter what material things you possess.

@BrandonGolets 10 ай бұрын

Great message.

@joseperez2003 10 ай бұрын

I will have to agree with this statement. I'm only 38 years old and I'm really focusing on my health for today and the future. Money is a tool and like any tool you just need to know to use it effectively.

@TraciePeters1 10 ай бұрын

Great reminder! People tend not to realize the cost of health care post retirement. Your employer funded insurance goes away and if you don’t take time and initiative to care for yourself earlier than retirement, you may not have enough. Obviously bad things happen as you stated (happy your wife is fighting and winning) but most people can control their health to a larger extent by making wise life choices. One of your retirement assets IS your health and unlike a 401K, you can affect the dividends.

@chrisharris4223 10 ай бұрын

Great message Kenneth, need to keep an eye on health, that is ultimate currency 👍

@marciamakoviecki3295 9 ай бұрын

Switched to high protein, low carb and feeling like 30ish

@jimwolfe4286 10 ай бұрын

Thank you very much, Jerry !.....EGO, this little 3 letter word is the Reason most people are in Debt and live a Miserable life with a lot of Things they don't need !...Satisfy your Needs, have very Few Wants ; that is the Secret of Contentment...and Contentment is the Secret of LIFE !!.....Enjoy the Show , that others provide.....and be Happy for them and yourself . ....You always make me think, Jerry...THANK YOU.....Take care..

@kayakcaster1073 2 ай бұрын

Nailed it! It's all about "wants & needs"

@OroborusFMA 10 ай бұрын

The average millionaire has seven different streams of income. I can vouch for this. My 9-5 job is very average salary-wise. Good benefits, but the salary is nothing special. Over the years I have begun teaching online courses with three different schools, make royalty income from a home business that releases about one new product a year (all profitable), making great interest thanks to today's interest rates, and just started investing in dividend stocks. After renting my whole life I bought a condo in 2011, paid it off in 2019, and also own my car which was new in 2019 and has just 14k miles on it. Zero debt. Once expenses are covered I can save, save, save.

@JackWorkz Ай бұрын

Sounds you're doing better than you deserve.. ?.. nice

@Idontwantahandleiresentthis Ай бұрын

The average millionaire got there from investing for 20+ years You were misinformed

@mikefiatx19 3 ай бұрын

Retired at 45, not worried about cash because I spent the last 20 years preparing.

@Judy-le2xz 7 ай бұрын

Thanks so much Jerry! I've been very hard on myself, I'm a late bloomer, however, I'm making good strides. I'm now out of pay check, to paycheck. I've built up, through savings, solid financial security. I have a ways to go and I'm starting my own business.🙏🎉🎉👍🙌

@ronwinkles2601 10 ай бұрын

My grandfather always said, "If you make $100 a day, and you spend $99, you just made a dollar." He retired at age 58 in 1946. My Dad retired at 45 in 1966. I retired at 45 in 1991, and my son retired at 56 in 2023. My grandson plans to retire when he is 45 in 2036.

@briom1425 10 ай бұрын

Yeah but did he retire enjoying his life in his early years or just worked his ass off and always thought about money ? What is money if your entire life is over now , specially your youth , money is not worth anything if you are old and tired .

@user-hl4jj3hb4h 10 ай бұрын

Retirement? That spells: Nothing left to do. I'll never retire.

@email6743 10 ай бұрын

If your focus is to retire, your actually striving AGAINST the ways of our Lord. Think about this carefully.

@1Skeptik1 10 ай бұрын

@@briom1425 If you are fortunate you live to get old and tired, But empty pockets are a choice at any age. I planned (save/invested) for retirement and I get to play the bonus round on my terms.

@randymanchester6993 10 ай бұрын

@@briom1425 True. Life is a journey, not a destination.

@Kim-J312 9 ай бұрын

My aunt and uncle did not graduate high school. They both had to drop out to work on family farm 🚜. They were married at 16yrs old( in the 1950s) Had 2 kids by the time they were 18yrs old. They worked odd jobs and lived in a 2nd hand trailer and shared one car . They saved everything they had to buy a small roadside mom and pop hotel . Then bought another one and another one , well 5 hotels later and a restaurant and own farm equipment rental company. They sold all of it and They retired millionaires . And NO college degree or debt . They will always be my heros

@rokyericksonroks Ай бұрын

Great story. Thnx for posting.

@JamieTownson 3 ай бұрын

The journey isn't an easy one ..but we just need to forge ahead.I didn't become financially independent until my late 40s....after the financial choas caused by covid i was a wreck but Thank God for making me see through with my financial investment plans that helped me in acquiring my 2nd house now and aside from that i still see monthly income ...truly investments are key to financial freedom, no matter your age you just need to take that important step.

@SincClear 3 ай бұрын

Wow, interesting indeed! Currently I'm in need of investment ideas or tips. Earlier this year I hesitated and failed to take any action until now. However, I'm determined to try something new as I am very open to various investment ideas . I want to be retired in my forties or fifties. I really wish I can achieve what you have achieved and I believe it will happen

@JamieTownson 3 ай бұрын

It's essential to comprehend the complexities of investing. Having a trustworthy support system, such as a financial adviser, who can advise you is crucial, especially when choosing assets.

@SincClear 3 ай бұрын

Thanks for the advice but it's hard to get a trustworthy financial professional around here. See what you have accomplished I would like to know your specialist.

@JamieTownson 3 ай бұрын

I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm.

@JamieTownson 3 ай бұрын

You can do a search of him on net and reach out directly to him for more info

@Chad_Thundernuts 7 ай бұрын

As a newbie to the world of financial literacy, I found this video VERY insightful. Thank you. 🙏

@cdmorrissy3692 10 ай бұрын

I'm 66, I have $220,000 in savings, I save $2,000 monthly (50% of my net pay) and I have no debt. I like no risk "investing", so high yield savings accounts are for me, and I'm getting more than 5% right now. I'm "semi-retiring" in The Philippines 4/2024, where the cost of living (overall) is about 50% LESS than The U.S., and I can live VERY well there for $1,500 monthly, work only 50 hrs. monthly, collect my Social Security and savings interest income, pay all of my expenses (including a premier private health plan) and still save $30,000 every year.

@shyonemami7388 3 ай бұрын

I plan on retiring in the phillipines as well!

@cdmorrissy3692 3 ай бұрын

@@shyonemami7388 I've postponed my move to P.I. until all of the problems in motion in America are resolved and/or better managed, as I expect being in another country (in months to come) could present BIG problems accessing and managing your money ( among other impediments). I'm also concerned about China, as I expect them to attack Taiwan this year, and that will cause big problems in P.I. too.

@amirillodude Ай бұрын

Sounds good but those savings accounts won't exceed inflation

@atrank 10 ай бұрын

I read a book back in the 1990s called “The Millionaire Next Door”. It was about the same thing. Most flashy people are totally fake. I don’t have an ego or crave attention, and investing my money instead of spending it on myself has put me in a better place.

@patlynch6517 10 ай бұрын

Yes, I read “the millionaire next door “ years ago. It was very very insightful !

@JW-bh2ud 10 ай бұрын

I read that book too, loved it!

@motto6402 10 ай бұрын

I read that book too many years ago. Changed the way I have lived.

@TheDowntownHermit-xj6rq 10 ай бұрын

I also read that book. Stealth wealth is the way to go.

@covercalls88 10 ай бұрын

I remember reading the book. One thing I took away from the book was when I went to a party holding a raffle, I had won a couple of gifts and what I picked was some nice toys for my grandkids.

@leefury7 10 ай бұрын

Never made more than $50K/yr. Retired with 1 mil cash. I was VERY conservative in my investments in the '90's, primarily annuities. Retired 13 yrs ago and have more now than when I retired because of continuing to live a frugal life style. Less is more. If I was able to do this anyone can do it. But I worked since I was 14 and always had a noticable work ethic so never had employment problems. Oh ya. I gave and continue to give not only to my church but to others who I see in need. (NEVER to anyone with an 'entitlement' mentality). I worked hard to have enough to help those who were less fortunate than myself. "God loves a cheerful giver."

@ryanritchie7921 9 ай бұрын

…and god loves Tom Brady

@PotatoWiz 8 ай бұрын

@@ryanritchie7921i am not sure about rhat.. but i hope he does

@joycewright5386 8 ай бұрын

You just described my life also! God is good!

@zachhecksel2920 7 ай бұрын

@leefury7 did you give 10%+? Just curious on what others give!

@leefury7 7 ай бұрын

@@zachhecksel2920 No. I got my degree in biblical theology which means I learned biblical principles in giving. 2 Cor 9. God loves a cheerful giver. In the OT, the temple tax and government tax combined to be a little less than 30%. True giving was whatever you could freely give beyond that.

@vanatic22 Ай бұрын

If you love what you have, you have everything you need. Simple lesson here is to figure out what's really important in life for you. Strive for that, be happy with that and you will feel free! Too many people either try to outdo the neighbors or are just never satisfied with what they have, no matter what they have. That's a very sad place to be.

@kens805 10 ай бұрын

People have no idea of how much peace of mind one has when you have NO DEBT!!!!!

@kathys1285 6 ай бұрын

Comment of the year 👆🏻🫶🏻👍🏻👍🏻🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻💯💯💯💯💯💯💯

@curtmetheny6520 3 ай бұрын

Yes I do!

@jimsteinway695 3 ай бұрын

Yea until you get a $25,000 tax bill because you have no tax write offs. I keep a low mortgage to keep my write offs and to keep my equity up

@Shannon-ul5re 3 ай бұрын

True to that!

@sjpavur Ай бұрын

BINGO!

@elihu9342 10 ай бұрын

Great video! Thanks

@bigedslobotomy 7 ай бұрын

I’m a retired respiratory therapist, and I’ve known a LOT of doctors who, while they make big money, also spend it all on cars, houses, and vacations. Many times they end up going bankrupt, because they have more bills than their income! There’s an old saying, “The more you earn, the more you spend.” This is true for many people, even those who make well over $200,000 a year.

@gustavofernandez6703 10 ай бұрын

Always helping with your knowledge Jerry

@joem.7621 10 ай бұрын

Good one! I’m the millionaire that pulls up next to you in a 2013 F150! I saved 50% of my income for 10 years.

@miket7184 10 ай бұрын

Yeah, I'm with you! I'm still driving a 2006 Toyota Tundra longbed pickup I bought in 2008 for $14,000 including tax/license. Still running strong with 280 thousand miles on the engine. I'm hoping to have it for several more years!

@jacklynnmjackson2383 10 ай бұрын

Wow, impressive.

@philipgerry5228 10 ай бұрын

I drive a 2016 F150. Most people can’t tell what year vehicle you’re driving, and even more don’t care. There’s no need to try to impress the guy next to you at the stoplight.

@jaimhaas5170 4 ай бұрын

F 150 the most repo'd vehicle in the USA.

@fml5910 3 ай бұрын

@@miket7184Sweet! my 2015 Honda Crv with 120,000 miles on it still gets me from point A to B, and in between.

@motokev2727 10 ай бұрын

I started working at age 14 as a dish washer. I wanted to retire at age 15.

@johnwhodat8135 8 ай бұрын

You need to wash a lots of dishes.😂

@ralphholiman7401 8 ай бұрын

When I retired at 52, people kept asking me, "Why are you retiring so early?" and my answer was the same, "I would have retired at 18 if I could have afforded to."

@daveb2280 8 ай бұрын

@motokev2727 My first job was a dishwasher when I was 15 in 1985 (I was earning $3.75 an hour and thought I was rich!!). My hard work and investing made it possible to retire at 47. People who learn the value of hard work early in their life almost always do better in life. It's why we have a generation in their 30's that never learned that lesson and are struggling while living in mommy and daddy's basement.

@tintin66666 3 ай бұрын

😂😂😂

@JackWorkz Ай бұрын

@daveb2280 I started washing dishes at 17.. now at 44 I own my small business, paying myself 100k/yr.. on a 5 yr plan to pay off my home and 401k + multiple 6 figures in savings... the key to all of this,is never being without a job.. I never even graduated high school, dropped out to work and raise my son who came unexpectedly when I was 17.. he's now working in my small business and building his life.. 🙏

@n-da-bunka2650 10 ай бұрын

We own MB rental property for 13 years from 2004 to 2017 (2 BR/2BT @ SeaWatch). We now own ski condo in Snowshoe WV (Allegheny Springs). We will be visiting Myrtle again in about 2 weeks for my wife's birthday. I was stunned by how much more expensive property around there has shot up to the point that I don't see a way to make $s after the POA fees any longer (The POA fees have DOUBLED in the last 6 years on the unit we sold and back then we were only making a couple thousand a year after expenses on a unit with NO MORTGAGE at the time). I will be turning 61 this year. Still working some consulting gigs simply because they pay so well.

@greensombrero3641 10 ай бұрын

solid sound advice - thank you. i subscribed!

@Lukekras 10 ай бұрын

Very permanent info great info.thanks

@penguingobrrbrr353 Ай бұрын

Income "average". No mortgage. No car payment. No credit card debt. I have savings. I have investments. I have apartment also. How well is that..

@JustinTheJT Ай бұрын

Save up, buy a house, and you will be light years ahead. :D

@missinformed9550 3 ай бұрын

My entire working life I made coffee at home and packed a lunch; small acts that had a big impact on my finances. People spend too much on frivolous things and being in debt seriously impacts quality of life.

@doublerainbowsdoublerainbo7906 8 ай бұрын

I JUST discovered you tonight, and I am so glad I did!! Your info is straight forward, real, " "nuts an bolts" facts we all can benefit from!! Thank you so much!!!

@richradillo8085 10 ай бұрын

🙏 thank you for taking time out of your day, to make this video!

@ITG45 8 ай бұрын

About 10 years ago I stopped listening to the lies, the lies others were telling me that I “needed” something, and the the lies that I told myself, that I “deserved” something, I’m 54, debt free and enjoying life!

@metalmike570 7 ай бұрын

Congrats you're ahead of the so-called game.

@DC632A Ай бұрын

Beautifully put. Thanks for sharing

@tonymontana1996 5 күн бұрын

Loan officer here -- licensed in 18 states and the 'I can't pay a 1k emergency' sounded fake to me until I became an LO It's insane how many people have $0 savings. Half the people I talk to I wanna tell them like hey ---- eat at home --- sell that 1k a month truck payment ---- on the weekends go for a run then take your kids to park --- quit spending so much money holy cow! hiking, fishing, get a library card, eat at home, dont buy new cars, work out, quit going to the bar so much. its gnarly how people choose to live.

@esanford 3 ай бұрын

Nice video. I even enjoyed the comments below. Some were snarky but still fun. Others talked about how well they are doing. The bottom line is that most people who watch videos like this are doing pretty well. It makes you feel good to see that we are doing better than our peers... human nature.... People who are in the "financial hurt locker" don't watch videos like this because it makes them feel worse. Yep! I'm doing well and videos like this just validate it even though it really isn't necessary

@AUTISTICLYCAN Ай бұрын

Strict use of your metrics suggest I'm NOT doing well but I beg to differ. I have a 401K with $500K invested and doing well. I never touch it. Between Social Security and Pension I live on $75K per year. I am completely debt free. I have no dependents to pull me down. No car. Due to disabilities I can't drive. I own my home in a walkable community. Yes, I live in a luxury area in an expensive state. I easily pay all expenses with $2,000 left each month to save and or enjoy. You say invest in real estate. I'm autistic and don't want the hassle of dealing with renters and management companies. I'm retired, housing secure & debt free. I can save regularly and still enjoy care free retired life! I'm above average in my own way bud!

@maureenwhalen3505 4 ай бұрын

Thank you for sharing this information

@breornot2bre 3 ай бұрын

Husband & I cleared over $325k last year with our sober living homes alone. We’re both felons, recovering addicts, raised in extreme poverty. We are closing on our first investment property next week- section 8 the upper unit, living in the bottom then buying our second property once our baby comes in June. We are house hacking all of our properties, and having our tenants cover the mortgage while being + after it’s paid. We own of 4 sober living homes, and own a successful peer coaching business. What I’ve learned is the more diversified your income is, more sacrifices you make, and better/smarter decisions made with money make a difference. Hard work but well worth it.

@buildingbuildercip8292 10 ай бұрын

I’m a millionaire, and drive a Toyota. Haha! It’s so true, but will eventually buy an exotic. I was a Dave Ramsey follower for a while. Graham Stephan is also giving good advice, but my personal experience has been in buying and paying off real estate, which I rent out at a fair amount below market value. I am earning well into the six figures now, thanks to my rentals. I was able to retire young, and am excited to have a legacy to leave behind to my two sons.

@michalk2497 10 ай бұрын

how much rent will you realistically collect in 36 months? now it's working out because you made the right decisions in the past, but I'm afraid you couldn't fit them into today because the prices are too high and it probably wouldn't be worth it.

@Dbb27 10 ай бұрын

@@michalk2497 investment properties are still returning 5-7%. Best thing to do for that first property is to buy a duplex or triplex. Pay it off and move on to number 2, then number 3. By the time you own three free and clear they will fund your lifestyle.

@Pinchshot39 10 ай бұрын

Sounds just like me

@ripperwrestling6587 10 ай бұрын

I have rentals I rent below market value in my area as well, it helps me retain excellent renters and the cash flow isn't nescessarly from the monthly rent it's the back end savings that helps.@@michalk2497

@user-sz4fz6ou8u 2 ай бұрын

THIS, is what I want/need to do! Where to start though..............?

@1000lightyrs 6 ай бұрын

At 31 I was flat broke with a worthless car, no home and $10,000 credit card debt. Then I got serious. Bought and paid off my house by 49, bought a second property at 50, letting the tenants help me pay that one off. Also started salary sacrificing the maximum I could into Super at that time. Next year, I'm selling the house I live in, to move into the other one I bought, and retiring comfortably at 55. According to my calcs, I reckon I saved about 65% of my income over those 24 years. I'm just a high school educated, unskilled, laboratory technician.

@gregorycanady2530 5 ай бұрын

You are more than what you think......................success is between the ears.............

@chrystya 4 ай бұрын

Good for you. You should be very proud of yourself. I know what it’s like to give up things so you can save. The earlier the better. You were fortunate to heed that wake up call and do something about it. Congrats to you. Enjoy your retirement

@alexispacey2864 4 ай бұрын

Do you have kids, a spouse/partner? I found the kid bit took a lot of finances and achieving early retirement.

@1000lightyrs 4 ай бұрын

@@alexispacey2864 No, no partner, no kids. I know what you mean, but I've witnessed that it can still be done. My work colleague has a similar mindset to me. He immigrated to Australia at about 31 (so same age as my scenario) with no assets/money. Works in the same field, non-professional. But he's gone through the whole family thing, wife, 2 kids as well as supporting family back home. He's retiring comfortably at 60. So I guess the family added about 5 years to the equation LOL

@Jason9612 10 ай бұрын

Thank you for this excellent and informative video.

@CharlieChaplinVideos 8 ай бұрын

Subscribed. 💯 informative

@billmatthews1293 6 ай бұрын

“ I once had the blues because I had no shoes, until on the street I met a man who had no feet.” Count yr blessings. We are ALL richer than we think, when we don’t measure wealth by money or possessions,

@radcoelectric3852 4 ай бұрын

Love it!

@YOUCANNOTLIE 3 ай бұрын

Yup spot on. Count our blessings EVERY DAY

@user-dq4yq6wz8y 3 ай бұрын

My nan would say this too me

@goingwildagain 3 ай бұрын

Subbed

@robertellis3915 10 ай бұрын

Been working for Goodwill for some 5 years they don't pay enough for the rent and bills feeling more handicapped than independent working for Goodwill

@glenncrowell6565 Ай бұрын

Thanks man.. subscribed & liked.

@user-gv3pj2bt6l 4 ай бұрын

It's comforting to know there are positive indicators despite feeling uncertain. Thanks for shedding light on this!

@robedmund9948 10 ай бұрын

Thanks. It's refreshing to hear good news for a change and to have some validation that all the hard work really IS paying off. Much appreciated.

@whatstrue1481 10 ай бұрын

You can never be truely happy until you learn to be satisfied with what you have.

@Bodangers 10 ай бұрын

That's the guy I like... he isn't happy even though he has 3 cars, good family, lots of friends and a house. Not sure what to tell him anymore.

@grayrider8846 8 ай бұрын

Thanks again, I am way above average, but live like I have to struggle, my wife is right, we planned well, now it’s time to live the plan👍

@qstudiomusicandproductions2695 10 ай бұрын

If you're a Dave Ramsey fan you've heard some of this already but Jerry your demeanor and delivery are much less confrontational and hard nosed and therefore I think more people will listen. Even though I agree with Dave on most things and his solutions many people are turned off by zealots. Summary- great job / video!

@Echo30Mike Ай бұрын

the bank of dave?

@matthewtaylor6564 10 ай бұрын

Money allows you to look around at things you never had time to look at because you were always running full speed .what you do see is everybody in a panic all the time. You can just kick back and watch and say “I used to be like that”

@Echo30Mike Ай бұрын

Money just allows some things to be achieved faster, but it also attracts unwanted attention.

@matthewtaylor6564 Ай бұрын

@@Echo30Mike Agreed. Best to stay out of the limelight - don't attract attention to yourself. Keep your head down and enjoy life....

@WackyCookies 10 ай бұрын

That’s why I drive an 11 year old BMW that I purchased second hand. I never purchase a brand new car. Thank you for your tips.

@markkrispin6944 10 ай бұрын

I drive a 2021 Toyota Hybrid. Getting 65-72 mpg city, 61 mph highway. Planning to drive it until the wheel fall off. Only paid $20,600 brand new with only 11 miles on it. 0% interest rate.

@jaekn Ай бұрын

Buying an 11 year old BMW is never a wise financial decision, they are remarkably unreliable

@WackyCookies Ай бұрын

@@jaekn-My car was only two years old when I purchased it and had less than 10k miles on it. I’ve had it for 9 years now and it is a wonderful car. Of course I have routine maintenance performed on it, but it has been perfectly reliable.

@rowser4472 Ай бұрын

@@jaeknrecent bmw is plenty reliable. BMW being unreliable is old news.

@joeroche552 2 күн бұрын

I'm English and grow up in a very affluent area. All the rich rich have volvos, passats, hondas etc. flash is new money.....old money is quiet and not flashy

@JTsRetirementCountdown 9 ай бұрын

This is an excellent vid, love the channel and you have inspired me to start my own channel JT's Retirement Countdown. Keep the vids coming bro!!!!

@johnroebling9329 10 ай бұрын

Money doesn’t buy happiness, it buys opportunity and the opportunities we pursue reflect our character. Poor people don’t have opportunities so they only have existence…

@fredmiller6305 10 ай бұрын

Agree, I always thought Money buys Time. Time to look for the opportunities and avoid debt.

@dianabinkowski3927 6 ай бұрын

I retired 21 years ago on a pension to stay home and spend more time with a husband who was suffering from Agent Orange poisoning from his service in Vietnam. He passed in 2020. I live very comfortable. I have no consumer debt except my mortgage. I am looking at paying off the mortgage in about four years. My net worth at the moment is about 400 k. I am almost 75 and fairly healthy.

@jeanettecook1088 3 ай бұрын

Hi, saw your note. Sorry about your husband. Mine also has multiple dioxin induced conditions...100% disabled... age 70 and doing OK. He's a Marine. I wish you well. 🎉

@rokyericksonroks Ай бұрын

Thank you for “your” service as you were on the same team as your husband. Nice to have a roof overhead that you own, so good on you.

@mitchpilchuk7916 5 ай бұрын

I want to thank you for this video. I'm not saying ALL of it applied to me, but it got me to look at what I've got going on financially. I'm doing really good. I have you to get me to look. Thanks.

@clinthamilton Ай бұрын

Thank you for this video. I needed it.

@learninghowtodothis8062 10 ай бұрын

You are absolutely right! Success doesn't have to be " rocket science"-- sometimes it just needs some common sense.

@ForeverDownByLaw 10 ай бұрын

You got it Jerry. You are showing how folks can build wealth, which is far different than being rich.

@lt5771 3 ай бұрын

Good stuff thank you

@billbrock8740 10 ай бұрын

Another GREAT video, Jerry! Loved your opening with your reaction to the mansion. : )

@JerryPinkas 10 ай бұрын

Lol I’m so glad you enjoyed that! Truly appreciate you and your support

@txbiker15 8 ай бұрын

This makes me feel much much better. Although i do feel behind where i want to be, we keep our expenses low and made a deliberate choice to drive paid off toyotas and live in a house thats "small" for our income. Its easy though to look at others making less than you, but somehow driving fancy cars and taking vacations every month. But we have a 6 month emergency fund, max out our roths, get our company matches and pay off our credit cards every month..... now that I'm typing this out - its making me realize how good we are doing. :)

@HorseWaterDrink Ай бұрын

Every new pickup truck I see on the road. I can't belive" how" they are paying 60 to 100k. Wtf

@jeanfrancoislutz519 5 ай бұрын

Wise thoughts Jerry. Thanks

@DannyCoady Ай бұрын

Thanks for this Jerry!

@TalkingChelsea 10 ай бұрын

Sometimes, what we just need is this type of encouragement. Tired of watching most KZfaqrs pushing out negative energy and criticizing people while talking about finances. I’m not doing bad as I owe no debts, I’m even paying for my graduate studies out of pocket. Just that videos like this encourages us and keeps us going with hope. Thanks man, just subscribed

@spankynater4242 10 ай бұрын

Who are most of these KZfaqrs with financial channels criticizing others?

@toddeckel9658 10 ай бұрын

1 Timothy 6:6-11 6 But godliness with contentment is great gain. 7 For we brought nothing into the world, and we can take nothing out of it. 8 But if we have food and clothing, we will be content with that. 9 Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.

@Double-uz6rw 10 ай бұрын

Great video!

@maryfiona7641 Ай бұрын

Good video. Two schoolteachers, on a pension plus SS, never earned a ton of money but half a million in savings, no debt, own two smaller homes free and clear, great medical insurance, driving two not new paid for Hondas. We see people looking a lot fancier than us but we're not worried. Our kids are driving two brand new cars. working two jobs, eat out all the time and are loaded with debt. We do worry about them.

@78Terp 10 ай бұрын

I'm retired with a pension and SS as my income. I also have a large physical gold and silver horde and a fat 401k.

@mane3763 10 ай бұрын

cash and metals? Saweeeeeet!!!!

@thekid1597 10 ай бұрын

Glad to hear something positive , I'm better off then I thought I was 🎉😊

@dancwilliams 8 ай бұрын

This was great. Thanks!

@user-zw8ip8zz3d 10 ай бұрын

A great message and a very important one. Thank you.

@JerryPinkas 10 ай бұрын

Thank you so much I’m so glad that you enjoyed this video and I truly appreciate you taking the time to watch it and comment here on this channel and I’ll see you in the next one

@alexrio4806 10 ай бұрын

Thanks for this video. Simple and definitely puts things into perspective… Just what I needed this morning. Thank you!

@noahklein360 10 ай бұрын

Great advice. CD's are nice. But if you're in a high tax state it may be better to by a treasury. Most banks are affiliated with Brokerages which allow you to buy treasuries online.

@joeykramer7282 8 ай бұрын

Such solid information.

@Chalumeau9 8 ай бұрын

Good and informative video!

@kathleencernetich6243 10 ай бұрын

I'm 72 years old thank God I've got my health I am debt-free and I'm still working 40 hour week I'm driving a twenty-five-year-old SUV very comfortable within my means I don't try to be a wannabe and I sleep well at night

@bryancohen4519 10 ай бұрын

Still working?? Get a life

@sterlingcampbell2116 2 ай бұрын

God I hope I don't have to work at 72...or even 62

@robinferguson8911 5 ай бұрын

Im 54 and retired a couple years ago (minus some part time work here and there). I have more than enough according to the retirement calculators online but i still constantly think about money, debate myself over every dollar i spend and have nearly everything invested in stocks. I should stop being so tight with money but a lifetime of being this way (thanks dad) allowed me to retire early. I really love the freedom to make my own priorities now for how i spend my time, much more than I've ever enjoyed spending money.