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if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries

It's really unfortunate this isn't taught in school. Thanks for being our teacher Nate!

1. Retirement account 401k/403b account, ~15% 2. Checking account 3. Necessities; food, shelter, transportation, healthcare, utilities 4. Emergency fund; ~$2,500 liquid and easily accessible, higher if you have a family 5. Debt payoff- snowball method or avalanche 6. Save 4-8 months of payroll; options- online savings or money market 7. Investments; example real estate, bonds, stock market

At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.

I am currently 16 years old, your videos are going to save my ass

I taught my children how to manage money. (savings, retirement plan, the difference between a want and a need, etc) My teachings have paid off and I am so glad I took that time with them:-)

THE WORLD IS CHANGING AND EVERYONE SEEMS TO BE LOOKING FOR WAYS TO EVOLVE, YOU NEED TO START NOW

I’m telling you, having that 4-8 month payroll is worth everything in gold! I lost my job and had started searching for new ones that fit my needs. Took about 2 months. My payroll fund had me covered no problem. Not having to worry AT ALL about how you’ll pay your bills is a god send and I recommend EVERYONE do this as well. Looking for a new job almost felt like a short vacation haha I was able to take my time finding the right job for me rather than taking what was available to start paying the bills. Thank you for sharing this information, a lot of people could use it myself included.

Emergency fund is so important! Most people get in debt because they don’t have an emergency fund and are forced to take a loan out to cover an emergency expense.

I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45

As a retired teacher, I can honestly say that this and other life skills isn't taught in our schools, which is unfortunate. This is good info for everyone. Thanks for doing this.

With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.

The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?

Nate I started watching your videos 3 months ago and I had 45 dollars and my checking account applying some this advices i opened couple savings accounts and I have 5k dollars and my finances under control. now I getting ready to start investing in market stock .... nate thank you your doing a great job

Always pay yourself first! So important to financial wealth.

Been paying off credit card debt. Credit score went up 78 pts due to credit utilization. Savings account getting healthier. Started 401k. Thanks Nate! I feel in control now

I was able to pay bills using side hustle income and saved all my main job income! Wonderful

Probably biggest takeaway from this video: 16:30 you have to run yourself like a business. I think once people understand that they are their own life manager they might consider not spending their money on the newest iPhone every single year.

The right investment can get you ahead in no time! Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.

I m in hospital and decided when I get out, I am purging my entire life, living as a full blown minimalist, and following all your instructions, and having my own business

I feel like the root problem of poverty is caused by our public school system. Not even teaching students the basic things like how to make a budget..

Keep teaching the youth man, this is great. I’m taking good value from every single video. Saving is hugeeee. Wish everyone a blessed week ! Work hard

You’re literally teaching me everything my parents didn’t have time to

Proper investing and discipline is a very key. Discipline at every time is worth everything

Nate I was a retirement planner and I started when I was 20. You are the most focused guy your age that I have ever met in 42 years. You must have had some one in your life that guided you in the right direction. Your knowledge blows me away .

In addition to being an important topic for all, the delivery had an extra bang with the 'flip chart'. Listening is not always hearing, especially in a rapid fire presentation; but Listening & Seeing has greater Impact (like two knocks to the head). Well done. $$$$$

13:11 yooo who's watching this in 2020 with the whole COVID-19 stuff happening?

Nate obviously is a genius. The 6th tip is the ultimate to save money and make more income

Important points for the debt repayment: You pay the minimum balance on all debts but extra money goes toward paying off the lowest balance or highest interest rate. Once that's paid off, you apply the amount you had been paying for that targeted debt to the next targeted debt. That's how things snowball/avalanche; as debts get paid off, the other debts can be paid off in larger amounts so things build up over time.

The best way for me, to add to my emergency fund/savings, has been transferring whatever is left at the end of the month and in a sense "starting over" each month. Works very well.

I just completed a bunch of financial classes this entire month and you explained everything in one video 😅👌🏽 amazing! You’ve got a new subscriber ❤️

Watching this during the corona virus and he totally called, "there are sometimes people lose their job" "things can get hard" Great video!

Nate is a rare gem for his age, especially when it comes to practical financial wisdom. I'm in my 60s and so glad I practiced fiscal responsibility from my youth up to the present. Don't just watch this video, put it into practice NOW.

These lessons should be taught early on especially for the younger generation.

To all the young people out there I did everything right saved, only spent on needs then in 2011 my body broke down (was flat on bed for 2 yrs)...all funds came into use especially the emergency fund first now at 47 broke but getting by....you do not know what could happen in the future so be careful

This is real world usable advices. Not like other time wasting videos on KZfaq this actually delivered.

The number one reason people are poor is because of this thing called "instant gratification". If they can delay gratification, they will be rich period.

I'm glad I found your channel. You are sorta like Dave Ramsey without the patronizing and condescending overtones...

I love how cold-cut and dry he explains his points. I don’t usually hear financial youtubers talk about death or homelessness.

One thing he didn't mention with the debt snowball is to, once you've eliminated that first debt, roll that payment amount over onto the next largest balance. Basically, pay as much as you can toward the smallest balance. Once that first balance is gone, you have that left over cash flow you can apply to the next highest balance.

its fair to save money for interest but its not advisable you put a total 100% into savings. i will say you put your money to work, is always necessary to invest so as to multiply income.

im19 and after watching some of your motivated to change my life around thanks so much and keep doing what your doing

We work for years to have , $1million while some people I know put thousand of dollars in some meme coins and they are millionaires.

“Thinks can go south” - looking back this feels like an understatement

I'm putting 10% into a Roth 401k, maxing out a Roth IRA, putting about another 6k into a regular brokerage account in other investments and the rest I'm just saving in cash hoping to eventually get a couple rental properties.

I love these tips. I used the snowball method to pay off my car, personal loan, and iPhone this year! Each small thing I paid off, I put that exact amount into the next smallest debt payment. I only have my credit card and student loans left and I’ve built up my savings account slowly this year too. I love the advice about having the emergency fund in a checking account. Thanks Nate!

1.5 minutes into this and I can already tell you're genuine and legitimate, subscribing

It’s super hard especially when your healthcare takes over your financial situation. Sometimes I feel like I’m drowning just in medical bills and of course stress makes your health even worst !

I am 37 and I never learned how to manage my money properly. Thank you very much for these videos. You’re literally saving my life and improving the lives of my kids. I grew up in a very poor family and no one ever showed me how to save money. I don’t want my kids to go through the same thing.

I’m 18, I’m going to graduate high school in a few months and this video actually really helped me understand what to do to build a plan for my life. Some day in the future I will come back to this video and comment a feedback how life went😆

I'm currently 17 years old and will be moving across the country by myself for school in less than a year. Your videos are making me way more comfortable with that idea!!!

Dont spend more than you can earn. Save much as you can everypayday. Pay your credit card in full so as not to pay any interest.

That's some wise old sage advice from a smart young man.

I like how you speak fast and straight to the point.

I wish there was a mandatory class in every school for "crucial financial strategies for life". Thank you Nate for doing this.Your generosity with giving out this for free to all speaks a lot about you as a person!

Glad to see you explained & separated the emergency fund, from the “payroll” savings, because unfortunately this distinction is sometimes overlooked. Liked the longer video-wouldn’t mind if they were longer, or even more frequently. I think you’re a great teacher. 💯👍

Pay yourself first,always!

I paid my 6000 consumer debt.Not only do you get relief from bills but also you can increase you cash flow because now you are not paying interest.

I am a 19 year old and I am about to start my job in a couple of months! Thank you! Right in the time that I need it.

Man I do all of this now and have been for years. It definitely should be taught in school...great video sir!

Diversifying income streams is so important. Thank you for these interesting ideas guys!, I still strongly believe in the efforts of my advisor. 2 years now and Jane Marie Kunak still surprises me.

It's pretty straightforward, just buy a good cross section of an economy and you should do well over the long term. The market will be high in 10 to 20 years, and significantly higher in 30. It's almost impossible for a company with no debt to go bankrupt. The U.S. is about 50% of the global marketplace, Pay yourself first. It's time in the market, not timing the market. Last year I invested 200 grand in the S&P 500/ an allocation fund (with the help of my advisor Jane Marie Kunak of course) and it returned 370k, but guess what? I put it back and reinvested. Now I’m rounding up close to a million.

the main key is to NOT SPENDING TOO MUCH

It's hard thinking about retirement. I work Freelance and as an Independent Contractor so I do need to start thinking about my future.

Wish I had this mindset and knowlege when I was 21. Would have saved me a WHOLE HEAP OF MONEY AND HEARTACHE. Well done young man.

"think of the future, things can always go south" LMAO, what a prophecy

Even though this video is old, you have provided me with a significant amount of information I can use for years upon years. I appreciate it! To be honest, I was looking for ways to budget the money I had received from my job. Since I had watched your video while taking down some notes. I can say that I feel confident in the way I will plan for my future paycheques'.

Just FWD this video to 12 people because you answered their questions. Excellent video, Nate!

Man. You must be talking about me...i do everything you just recommended and im in very good shape because of it.

I'm from Colombia, I'm learning English and when I find out your channel I can keeping learn financial education with you Thanks!! My English is very bad, sorry. !

Some small tips about neccessities, because I know some people struggle with this a lot more than they should: Learn how to cook. It's not the easiest thing in the world, but it's not as impossible as some make it sound. There are a ton of cooking channels on youtube. Find one you like and learn at least a few recipes. Specifically recipes for proper meals rather than deserts, snacks, or drinks. Cooking is quite a bit cheaper once you learn a few recipes, and if you have a microwave and tubberware, you can reheat leftovers for when you're feeling lazy. You can get by on only one meal a day and live rather comfortably. As an example, I can spend about 5-10 dollars getting ingredients, or buy two premade meals (hotpockets for the sake of arguement). The pre-made meals might seem cheaper and less labor intensive, but those 5-10 dollars will provide roughly 2-6 meals depending on bargains and such. Plus cooked food can be a lot healthier than premade meals if you're worried about that. Also, if you have dietary concerns such as gluten intolerance or a nut allergy, this will save you a ton of money. If you don't have cooking utensils, all you need to get started is a pan with high walls, a tablespoon, and maybe a spatula. You can pick up a cheap one for like 10-15$, but expect to replace this fairly quickly once you've saved money. I do not suggest getting cast iron pans. Despite what many cooking experts might say, they are not neccessary. They have the time, passion, and use for keeping such an expensive and labor-intensive tool. Keeping a cast iron skillet is not too dissimilar to keeping a pet in terms of the care they need. If washing dishes is too much of a time investment for you then just go for a non-stick /ceramic/stainless steel. Keep a cookbook. Buy yourself a composition notebook and a pen. It's all you need. Our memories can fail horribly if not well maintained. Having a cookbook on hand allows you to shop smart and not have to spend as much brain power thinking about constructing meals from what's available at the store. Make a list before you go shopping and avoid superstores. Walmart is not your friend. Their prices are actually quite high compared to proper grocery stores and their quality of food is quite low. All stores are designed in a way that draws your attention to high-cost, low impact items like junk food first with the more cost effective items being spread around after that initial brunt. Grocery stores do this too, but unlike walmart or other super stores, they tend to have a wider array of food stuffs for a lower cost. Having a list and sticking to it as strictly as possibly will save you a lot of money. Knowing what you can cook with what ingredients before hand will also allow you to construct your lists efficiently. It might seem stupid, but properly formatted lists can save you a lot of hassle as well.

Nice video bro I love this.. so much.. I don't know who needs to hear this. Save to invest. You will be saving a day off work.

I love your videos, Im 18 and I feel like you really relate to the younger crowd. Very easily interpreted

You talked about the economy possibility having a major hard time just before COVID-19 hit when you were mentioning having 4-8 months' salary saved up. Well done.

I’m 17 turning 18 in 2021 I’m really trying to get into investing and you’ve been a good teacher

Tithing plays an important part, even for economy, it's distributing from Haves to Have not.

I loved how useful and professional this channel is. 👏🏼 learning everyday. Keep it up.

I'm Ancient Amigo, and I'm going to spread the word about this KZfaq channel!

NATE! I have to tell you: this video is SO SO helpful - including to this 55 year old! Also, you express great compassion for the financial challenges that people face, such as family influence on ability to learn how to manage budgets. Thank you!

Thanks dor the tips again! I have a checkings account from that I automatically pay my mortage, healthcare etc and 15% of my paycheck goes to my savings account. I also have a (seperate) budget account. So every month I Give myself a budget for groceries, clothing, social activities etc. All the money that is left over also goes to my savings account. Looking and learning about stocks atm. 👍

THIS NEEDS TO BE TAUGHT AT EVERY SCHOOL!!!!!

Nate I'm English and this lack of financial education in schools is the same over here. Great videos! Many thanks for these.

Had an emergency fund about three times. Bad to use it all three times in an emergency concerning car and wisdom teeth. So happy I was able to take care of myself.

Agree with most if what your saying. You should have minimum 6 months expenses in liquid form, cash. Once you get out of debt.

One thing make it automatic! That can bypass whatever psychological issues one have with money. I have a fked up upbringing with money

Thank you brother 👌 after watching your video I went straight to my bank account started making moves.

Calculate what you "Make" then check Your Bills, ie Rent, Cable, Car, Transportation (Bus). I live at Home but I help my Mother and I don't live for Free. Week One is easy but Week Two is for Cell Phone, Car Loan, Car Registration. I live in Canada so it's slightly different. Then Week Three is quiet but Week Four is when I pay my Car Insurance, Bank Service Charges. Also when you buy anything, save the receipt, then keep track of what you "Make" in a Month and then see what you "Spent" in a Month. If you spend more than you make you're in trouble. Also ask for the Change in Smaller Denominations, and take The Loose Change and put it in a Piggy Bank. Also take an excel Sheet and keep track of Your Bank Balance. Know when you paid a Bill, get the confirmation number as proof that you paid for it and then put a Check Mark as proof as it was paid. Buy what you "Need" not what you "Want". I hardly spend the way I used to and it feels really good.

Nate: I'm not a financial advisor Also Nate: Teaching so many financial things that we don't learn in school

Great video! After watching this I feel thankful to be doing all these things. My biggest problem is building an emergency fund. Emergencies tend to happen when I'm still trying to build up my account, then I get wiped out and have to start from square 1 again. It's incredibly frustrating.

I so appreciate your video. Where were you when I was younger. I have shared this with so many and I hope they take advantage of it

I home-school my kids, and I'm trying to teach them about finances, money management, and debt. The things I wish my parents would have been able to teach me.

I don’t know if you’ve already done this but can you do a video on how to invest in the stock market for college students that want to see our money grow over time ?

Dude you look like a fashion model. You’re a strikingly handsome gentleman and even more knowledgeable. I appreciate the content.

I love this video. I visit it every few months to get myself realigned.

Just wanted to say, this is one of the most informational and important videos I’ve ever seen on KZfaq. Should be required for all recent college/high school grads.

You are changing my life. Thankyou for your work.

Something you forgot regarding debt payment. More than half of the debts default with banks, so when you have the funds you could call them up and ask for 50% off if you pay the debt at once. More likely than not they will take the offer, as it's better than default.

hi, I am from Spain. Our government automatically takes a % of our salary for retirement. There are private plans managed by the banks in the case that you want to increase the amount of money that you are going to receive once you retire. Also the government gives you money in case that you loose your job with is 70% of your salary at the beginning and 50 % the las months ( you are covered for two years). If you are fired you get one month per year that you have worked there as a settlement, so I think that the emergency fund is not needed. Our salaries are very low if you compare it to the states however we have some advantages too !!

Love the fact that you speak about emergency fund before paying off debts... Just because you have debts doesn't mean you must have 0 cash saved