Four-Step Routine to Financial Freedom. My advice

Рет қаралды 136,798

Күн бұрын

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Achieving financial freedom is not an unattainable dream. Here's my four-step guide to help you reach it
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TIMESTAMPS:
00:00 Intro
00:31 What is financial freedom to you?
01:46 Step 1. Track
03:52 Step 2. Save & repay
06:15 Step 3. Invest
08:06 Step 4. Manage
09:30 If you want to learn more
🧡DISCLAIMERS & DISCLOSURES
This content is for educational and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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Пікірлер: 225

@nischa 29 күн бұрын

What does Financial Freedom mean to you? Let me know!👇 Download my free 'Wealth Cheatsheet' here: nischa.me/cheatsheet

@gilberto3997 28 күн бұрын

FF to me is wake up in the morning without worrying for bills emergencies and so on....that's why I like listening to useful videos like yours. Thanks a lot for your help, regards from Italy

@adekunleademoroti8190 27 күн бұрын

black looks good on u

@greekbarrios Күн бұрын

Many thanks for the video. Everybody needs financial freedom. Let this be a thread for some more simple, reproduced approach from anyone who have build wealth. I have saved up $190k to get started..

@blaquopaque Күн бұрын

Compounding effect is the best. it took me 8 years to grow my retirement fund from $0 to $100k, yet only 4 years from $100k to $200k.

@kansasmile Күн бұрын

@@blaquopaque I sincerely believe people often underestimate financial advisors' importance too. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks..

@sommersalt88 Күн бұрын

@blqueopaque i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

@kansasmile Күн бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up

@sommersalt88 Күн бұрын

Thank you for sharing, I must say, Jennifer appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled

@Farmwald853 16 күн бұрын

I agree that many people are considering NVDA as the "Stock of the year." However, I'm curious about which stocks could potentially become the next Nvidia in terms of growth over the next decade. I've allocated $200k for investment, aiming to retire comfortably.

@SteveKalfman-yv7co 16 күн бұрын

I think the next big thing will be A.I. For enduring growth akin to Nvidia, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.

@SallyW414 16 күн бұрын

Facing a similar situation, I sought advice from an CFP. Through portfolio restructuring and diversification with good ETFs, S&P 500 and growth stocks, I've turned my portfolio around from $200k to over $800k in a few years.

@JohnMatthew-hq3xs 16 күн бұрын

Your CFP must be really good, I hope it's okay to inquire if you're still collaborating with the same CFP and how I can get in touch with them?

@SallyW414 16 күн бұрын

She goes by ‘’Vivian Jean Wilhelm’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

@JohnMatthew-hq3xs 16 күн бұрын

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

@ApBurger3532 16 күн бұрын

9-5 money gives you fuel for the fire. Use it to buy cash-flowing assets that put money in your pocket every month. The predictable 9-5 income will allow you the freedom to explore different investment opportunities and see what works for you. Don't underestimate a salary.

@game46632 16 күн бұрын

And don't get discouraged just because you can "only" invest like $100 per month. It can compound to tremendous wealth over the course of decades. The important thing is that you keep going!

@blind_luck_ 16 күн бұрын

I'm disabled and eager to work, but doctors won't allow it. I inherited $200,000, held by my sister in a bank. It's not earning interest, which seems unfair. I want to explore options for it- (stock market investing).

@AntagonisticAsian 16 күн бұрын

People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.

@Shirleypos 16 күн бұрын

How can i reach this person?

@AntagonisticAsian 16 күн бұрын

I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Kristin Amber Landis" for years and highly recommend her. See if she meets your criteria.

@amanbhai3146 27 күн бұрын

The efficiency of this Abel Dorsey is next level. To juggle walk throughs of various angles on the topic delivered to-camera, differnet content per topic from various folks underneath the umbrella of the track list of the larger big band concert itself is engaging and refined. To make a dense taccess like this so digestible is really something. Awesome work jack!!

@Khanbhai78685 27 күн бұрын

Congratulations, Abel Dorsey I am relieved that you are out there fighting these thugs, We musttake every precaution to protect the elderly and the general public from these despicable con artists. Congratulations to You!! You deserve the Nobel Peace Prize for ensuring our security.

@jajtiwari6128 27 күн бұрын

As a person and professional you couldn't get any better than Abel Dorsey Brandon is a very reliable person and an excellent professional in the IT field. He is the type of person you want to work that's passionate, hardworking and knowledgeable. You’re The Best 100%

@DharvmeerkumrDharvmeerkumr 27 күн бұрын

It's amazing what you do Abel Dorsey We need a lot of people with your skills and set who have good intentions and spread lo

@indaswanidp3480 27 күн бұрын

I'm literally overwhelmed, You are a blessing to the world. I can't thank you enough Abel Dorsey for helping me with my account recovery. My prayers will always be with you and your team. Keep it up guys. Love from Maldives. There are many people out there I pray everybody get help.

@funnyhome1234 27 күн бұрын

I did not believe that after the whole FTX drama there's any good to get this year but Abel Dorsey proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth

@andrewgonzales4278 29 күн бұрын

Financial freedom to me is not needing to rely on my job

@jordana.f.4422 29 күн бұрын

Absolutely this

@Kevin-mk6jo 29 күн бұрын

What job? What is that?

@d.s.151 29 күн бұрын

That's basically what the actual definition is..

@andrewgonzales4278 29 күн бұрын

@@Kevin-mk6jo concrete mixer operator I'm in the union lol

@alwaysMANDO 29 күн бұрын

Facts

@tahirisaid2693 20 күн бұрын

I've been diligently working, saving, and investing towards financial freedom and early retirement. However, the economy's downturn since the pandemic has significantly eroded my portfolio. My question now is: Should I continue contributing to my portfolio in these unstable markets, or should I explore alternative sectors??

@GeralynWinnifeld 20 күн бұрын

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch if you don't mind

@MariettaDiane 18 күн бұрын

It's a little more complicated than a simple answer. You probably should reassess your investment strategies based on current market conditions. You should also consider a market expert to guide you.

@ChristinHyzer 18 күн бұрын

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

@marie-jadechampagne3744 16 күн бұрын

Markets have been soaring super high since october 2023. We are talking more than 10% and that is with index fonds only, meaning no individual stock picking. Maybe revisit that?

@mrfarukarslan 29 күн бұрын

You are doing Amazing Nischa. Thank you for providing such great value to the community 👏

@nischa 29 күн бұрын

Thanks for being here!

@katkenziedr 29 күн бұрын

Thank you so much Nischa! I have been watching you for the past one year and to say that my financial health has tremendously improved will be an understatement. I can confidently say that I know I will be wealthy, it is only a matter of time.. Lots of Love and Light from Nairobi, Kenya

@nischa 29 күн бұрын

So happy to read this & for sure you will be Kat! Sending lots of love to Nairobi Xx

@lalitvinayak3726 27 күн бұрын

This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to Abel Dorsey for improving my portfolio. keep up with the good videos.

@Omar3551 29 күн бұрын

Good Job Nischa. Been following you I think since 4000 Subs. what a journey.

@nischa 29 күн бұрын

Ah one of the originals!

@ld5714 29 күн бұрын

Financial freedom to me, mean being able to live my life as I wish and planned for, without worrying about available finances to do so. I have been blessed and very fortunate as I planned my retirement, which I began almost 13 years ago. I wish you were available to me along with all the content nowdays, when I was planning. Fortunately, I was always a life long learniner and interested in financial matters. You are doing valuable work and a needed service to all your followers. Continue producing this rich content as it will bring a lot of knowledge and benefit to those that listen, learn and actually do it. Have a great week Nischa. Larry, Central Valley, Ca USA

@tagbon 28 күн бұрын

My big regret is that I didnt find this sort of advice sooner. Although to be honest, I know that I wasn't ready for it / wouldnt have taken action. But in the last one year, I've managed to get my financial ship at least pointed in the right direction, thanks to easy-to-understand-and-implement advice like this. Thanks Nischa!

@ST-ff7pf 28 күн бұрын

Financial freedom to me means doing what I want, when I want, how I want, where I want, and with whom I want and feeling good about it. Great video @Nischa: clear and valuable information without the fluff. Thank you!

@Yogeshkumar-no8yz 29 күн бұрын

Thank you so much Nischa for giving this! Its an eye opener, following your advices to achieve financial freedom. Great Job!😊

@vh2712 29 күн бұрын

Awesome advice! Please keep the information coming. 🙏 Thank you!

@RizMathibedi 23 күн бұрын

I am no expert on Finances. However, I do come from a background of the lack thereof, and a point I learned is that there are many like me whose adulthood root from a negative mindset and a lack of understanding of the power of words, Taken back by some of the first languages that existed, freedom entails a definition related to "being free from/of" and in this case financial freedom gave people that were oppressed the impression that we must be free of money. I had come to terms in my 30"s that what I needed is Financial Security, Yes words matter , a great deal of us have learned that the way we use our words carry alot of weight in this regard.

@ulloaleticia 27 күн бұрын

Thank you so much for your financial videos! Love them!

@paulna85 29 күн бұрын

I missed you this Sunday ! Started binge watching old videos !!

@jollyjames30 29 күн бұрын

Can you make a downloadable sheet giving ideas on all the different ways and places for people to invest money? That'd be very useful for many who aren't too familiar with investing outside of rental properties.

@auwais21 29 күн бұрын

Have been waiting since your last episode. Thank you for posting.....

@michaelr3025 21 күн бұрын

In the vast sea of financial literacy and growth channels, your videos are well balanced and clear. This one is a great example. Thanks for putting the time & energy to create it, it certainly is helpful for many.

@dania4501 29 күн бұрын

Thank you for sharing the free cheat sheet. So helpful! I like the idea of saving for one month for emergencies and then pay off the credit card with highest interest.

@Therealmattchong 29 күн бұрын

Saw you on Mike Thurston’s podcast. So glad I found your channel!

@controlledfinance 24 күн бұрын

You’re such an inspiration, I’m growing my finance channel and it’s already paying off

@DeclanHiggins-YoutubeChannel 27 күн бұрын

Thanks for your wisdom and insights Nisha very much appreciated.

@kavisharma_ 29 күн бұрын

Love the investing tip Nischa - especially on investing in yourself!

@EcomCarl 29 күн бұрын

Love the practical approach to achieving financial freedom outlined in this video! Tracking expenses, prioritizing debt repayment, and investing wisely are essential steps toward building a secure financial future. 💰

@Jamiebmurray 29 күн бұрын

Clear and to the point. Sent to my kids!!

@themars5452 29 күн бұрын

Well done. We need more Information.Thank you .

@RobertBeedle 28 күн бұрын

I wish i had half of what you have going on for my channel. You're killing it. 🎉

@ARP369 27 күн бұрын

Thank you Nischa, these are so important to create a stable life-style which so many youngsters are unaware of. I hope your videos will reach out to many. ❤️

@d.s.151 29 күн бұрын

I thought financial freedom had a pretty well established definition already; the ability to cover all essential living expenses via passive income (interest, dividends, royalties). That way you can then invest all income from work into non-essentials - investments, holidays, personal development, education, hobbies, whatever. That's my financial goal anyway.

@pecelirovucago7149 29 күн бұрын

Financial freedom means that I am able to take care of myself in my later years of my life . Thanks Nischa.

@kiranp2325 29 күн бұрын

thank you... always make sense. ...

@dennyoviedo4102 29 күн бұрын

Like always just amazing info , thanks

@veesvoyages 25 күн бұрын

Thank you as always for your advice!

@GamelHoca 29 күн бұрын

Great and insightful

@celestetienne 28 күн бұрын

Don't know if you will read this but following you, I went from CC min payment to being able to pay it off in full every month & save 6 months emergency fund. Recently resigned due to change in values, and am able to take my time to find a job that I want without worrying. I could never do this 2 years ago so thank you!

@snapshotsreviews4967 29 күн бұрын

great advice thank you

@AGameCoach 24 күн бұрын

Simple and strategic advice as always, well done

@razwanahmed5758 29 күн бұрын

This is so good got me re-watching.

@mayac349 27 күн бұрын

Absolutely a life saver !

@soumyajeetchakrabarty6872 28 күн бұрын

This has been insightful

@mikeconnell4067 29 күн бұрын

The most valuable lesson I learnt from yourself and other people like Mr Yang was pay yourself first! This was life changing!

@BetterMoneyTV 22 күн бұрын

I believe this is one of those things where paying off debt is the mathematically correct answer, but doesn’t work out in reality. In reality, the clock is ticking to the next crisis. Without emergency savings, most people will use a credit card to pay for a $500 unexpected bill. You don’t need a $5k in your emergency fund to start -try building it to $1k-$2k first. Next, I recommend building your vacation fund, to go on debt free vacations, get that set up as a monthly transfer. Then, tackle your credit cards. Hope that helps.

@SGH-rt6ci 28 күн бұрын

Erich Fromm - escape from freedom. Worth reading.

@welcomelove3738 29 күн бұрын

You’re the BEST Nischa. Thank you for providing such quality, insightful yet succinct content. I look forth to your videos every week! And over the last year, your content has really helped me with my finances so thank you so much !!🎉

@Bartosz84 29 күн бұрын

Well started week. Nisha, my " conscience" I feel guilty spending my incomes .Have a Nice Monday . :) thanks Nisha

@wildfoodietours6702 27 күн бұрын

Financial freedom is designing life on my terms.

@Elijah-Rios11 29 күн бұрын

Don't be afraid to repeat yourself every so often in your videos. This is my second time hearing about checking my finances every year, and I think I need to hear it a few more times for that message to sink in. Thank you!

@Elijah-Rios11 29 күн бұрын

And thank you for the master class

@giorgiotribastone7070 29 күн бұрын

Love your accent and your beautiful also. To answer your question not having to worry paying my bills and go on vacations and working for myself not company.

@techpodssocial 29 күн бұрын

Awesome video Nischa! Really insightful thoughts. I am currently scripting a video on money management for early in career professionals. I would love to hear insights on how you would manage finances at different ages and different net worths.

@davidgates5189 29 күн бұрын

I like your video before even start watching because I know it will be good :)

@MohsinAli-kw9bf 28 күн бұрын

Very interesting video Nischa! Would be very beneficial if you shared your thoughts for those who wanted to save, invest etc down the ethical route as in not via interest based transactions etc.

@turbostyler 28 күн бұрын

I'm 40, its not too late for me, but it would have been better to start investing a lot more earlier for sure. Thats why I'm teaching my 4 year old the magic of compound interest. We collect soda cans at home and take them to a recycling robot that gives her money. Then we go into the shops and she spends a little of the money, but puts the rest into the bank of mum and dad where she gets interest at 100%. Get those reward endorphins fired up for saving and investing at an early age.

@siilver1 28 күн бұрын

Nischa is definitely my BIGGEST DISCOVERY OF 2024! 🍀🌈 Although I knew You existed from like the later half of 2023 it wasn't until this year that I started watching you! .. . . 14th may 2024 at 7:37 p.m. Tuesday

@jatrickpohnson 29 күн бұрын

Nischa, have you read "Your money or your life?" And do you have any other good book suggestions on personal finance? Great video as always

@kavibharat 28 күн бұрын

Good job nischa❤

@shikharpathak1573 28 күн бұрын

Hi Nischa Just came across your channel recently. Great videos- very informative. I do have mortgage payments in expense category in my tracker but I see mortgage payments as future savings as each payment I make increases my net worth by reducing mortgage liability. My tracker includes net worth where I have my house (purchase value), saving, investments, pensions, car ( expected sale value in 3 years from now) as assets and mortgage , credit card and loans as liabilities .

@devangsingh4456 29 күн бұрын

Hi Nischa,a video on emergency funds, where to keep it,and if we use it should we stop our investments and rebuild it? Would really appreciate your advice!😊

@Sarah-fs2fw 27 күн бұрын

I love your videos! You break things down so they’re much easier to understand. I’m 40 now and I want to start investing! I’m scared of losing money but I’m going to start, as I know this is best way for your money to grow.

@bingxu6712 28 күн бұрын

well said

@mayac349 27 күн бұрын

Amazing!!!!

@mal7175 29 күн бұрын

I actually disagree on your take on expenses rising at the same rate as income. The gross amount I earn has increased 5-7x in the last 10 years, but my net savings rate is 5-10% lower. Other factors come into account like moving to a more expensive city, but I'd argue it's more important to start saving younger and on a lower income than it is to proportionately increase your savings rate as your income grows.

@jobhde4590 29 күн бұрын

Would you consider student loans as high interest debt or would you just have the monthly payments come out of salary? 5:49

@aprilw2387 29 күн бұрын

Spending freely (but conscientiously,) in line with MY priorities and values AND still making progress on short and long term financial goals.

@KarenJennifer-mt6he 27 күн бұрын

The speed of Revux transactions is a market game-changer.

@flemingdasari6032 25 күн бұрын

Hi Nischa, a small suggestion - anything that negatively impacts expenses in your demos please indicate with colors. That will help people like me who follow your channel. Thank you for everything you do 💚

@JudyNancy-xs6fk 27 күн бұрын

Revux market entry timing couldn't be better; strategic positioning.

@kevino2124 28 күн бұрын

My idea of financial freedom is having funded budget categories. Encountering an expected or unexpected expense only to find that its already "paid" for feels awesome. I don't want to have to ask myself how I will pay for something, only how much I will pay.

@mathosborne 29 күн бұрын

I love Nischa. I understand everything, but I just can’t stop spending money on convenience and luxury items. I think there’s a psychological part to spending that needs to be fixed. I need a manager so I can just solve other problems.

@sewaknautiyal7353 19 күн бұрын

for me financials freedom means when i can see you face to face and can take some tips

@jaheermk 28 күн бұрын

please make video on step by step on what you did to invest

@johnjoyce2508 28 күн бұрын

On your savings vs credit example timestamp 4:38 if you get 250 interest in saving and pay 1,100 in credit card debt. Would that not be 1,350 (not 850) difference? Great presentations always

@pingzhou9369 29 күн бұрын

Hi Nischa, thanks for sharing your knowledge. I understand the compound effect of investing; however, I don’t know where to start. There are all kinds of investments out there, from real estate, stocks, bonds, etc. Not all investments end up making money; some people are losing the initial investment funds. So, my biggest question is what to invest in and how to invest?

@siilver1 28 күн бұрын

Listening to this while I am taking a walk. . . 14th may 2024 at 7:02 p.m. Tuesday

@trinimale5 29 күн бұрын

Hi Nischa. Where does child support payments fall when doing a budget.

@LesleyRosita-sl8fn 27 күн бұрын

Revux focus on user experience sets a new industry standard.

@danac2899 18 күн бұрын

For me financial freedom is to be able to generate wealth with my own skills independently not being an employee while being able to take longer breaks 3-4 Months per year and go somewhere while still aford my bills.Owning a house + vacation home.

@user-cm1vm3kx2p 29 күн бұрын

Financial freedom for me is being able to maintain my families current lifestyle even after I’ve retired.

@RiseUplift-le3ob 27 күн бұрын

Great

@ChrisW1019 29 күн бұрын

What is the minimum monthly/annual salary I should have to consider investing?

@edmundkombe5173 29 күн бұрын

Financial freedom for me is being at a place where my fundamental expenses are cared for and i can play my music instruments when I want

@pensacola321 29 күн бұрын

The great Yogi Berra once said he didn't know where he was going but he was making great time!😊

@XxKP2606xX 29 күн бұрын

Would you say paying off you’re student loan in the uk is the same as paying off high interest debt, the reason I ask is because it acts differently to typical higher interest debt

@santoshdonawadesantosh4453 28 күн бұрын

Well Financial Freedom for me is being part of my dad's will is 'nice to have' but not must :)

@anishkabra4309 28 күн бұрын

Financial Freedom for me is to buy my time and to allocate funds in such a way that i can take calculative risk to do business for activities which i like.

@jonathanpaske2739 26 күн бұрын

Financial freedom for means retiring early which I did. Also it means we have no worries we can sustain a reasonable living standard. We have an old fashioned marriage based on trust . All the money we ever earned went into one pot. There was no breaking down various bills for each to pay. Having one pot meant that we could build wealth and sustainability. I was lucky the two of us worked as a team

@williama-d6 29 күн бұрын

nice video

@AndrzejOlchawa 28 күн бұрын

Which app/platform do you recommend to use for investing in s&p 500?

@gatekeeperboxing5898 29 күн бұрын

For me financial freedom is being free from having to rely on anyone else for financial help. Being able to cover all your bills, and still be able to buy whatever you need. Not having to rely solely on your paycheck from employment or state benefits, or having to take on debt that you can't pay back in full when it becomes due. Everyone can achieve this just by starting saving/investing from your very first paycheck, and not getting caught up in feeling like you have to keep up with all the latest things whether it be fashion, phones, vehicles etc. In the beginning it is essential to buy only what you need and not blowing your entire paycheck on goods that are not essential.

@fathamamutaleb1868 28 күн бұрын

Can you do options for investing which doesn't include earning interest, as for someone like myself for religious reasons it is forbidden to collect interest. Are there other ways of investing?

@paulho5673 29 күн бұрын

what happens when the money printer gets turned on and inflation eats up all your interest + savings? Love the vids btw

@Aarrenrhonda3 15 күн бұрын

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

@Elkemartin213 15 күн бұрын

Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

@Greghilton3 15 күн бұрын

Yes, a lot of people doubt the value of financial advisors, but in the last ten years, I've had one regularly restructure and diversify my expenses and portfolio, and I've made over $3 million in gains. I don't mind that it might not be much because I'm financially secure.