How To Manage Your Money Like The 1%

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Күн бұрын

Here's how to manage your money like the 1%: the 75/10/15 Rule will allow you to build wealth regardless of how much you earn.
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⌚️Timestamps:
00:00 How The 1% Manage Their Money
00:16 The 75 in the 75/10/15 Rule
02:35 The 10 in the 75/10/15 Rule
05:27 The 15 in the 75/10/15 Rule
06:51 The 2 Accounts To Start With
10:10 But What Should YOU Invest In?
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.
Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Пікірлер: 284

@VincentChan Ай бұрын

💵 Join 26,000+ people saving money faster with my FREE Savings Goal Tracker → vincentchan.co/savings-tracker 💸 Earn up to 5.25% APY with the best High Yield Savings Accounts → vincentchan.co/best-savings-accounts

@technofeeliak Ай бұрын

People who rely on their 401K can end up with nothing. That money is being "invested" or as I prefer to say it... used to gamble.

@wpelfeta Ай бұрын

The best skill to learn for saving money is cooking.

@VincentChan Ай бұрын

do you like cooking?

@ambidexj3077 Ай бұрын

Cooking, staying home, stop comparing/watching other people be stupid, not caring what u or anyone think u should have and planning for a future so bright it leads to early retirement 💯

@Rscapeextreme447 Ай бұрын

Facts

@karlbarthas2931 Ай бұрын

Correct

@jamesvanderbilt201 Ай бұрын

i would say meal prep/organization is more important. most people can cook a meal for themselves that is edible, but some dont know how to budget correctly, buy the correct proportions, etc. so grocery shopping becomes much more expensive than just buying a cheap meal or two out per day. not to mention, some people dont have time, energy or the desire to cook.

@josephhughes9583 28 күн бұрын

Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring. managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Sophia Elaine, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..

@josephhughes9583 28 күн бұрын

she's mostly on Telegrams, using the verified user name.

@josephhughes9583 28 күн бұрын

@PhiaElaine 💯:That's her Handle!

@sophiehernandez4108 28 күн бұрын

This isn't the first time l've seen her name. I think her good reputation speaks for her, thank you for the recommendation I just reached her

@nicosstereo 24 күн бұрын

Lmao these bots are crazy

@merlinfitz Ай бұрын

I want a balanced portfolio with growth investments, safe investments, and also focus on dividends to gain up to $20K monthly, my concern is picking the right stocks that can survive a recession. How do i go about this?

@ChristopherHoward-kf7yk Ай бұрын

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

@lawrenceHart-ys2ct Ай бұрын

True. This is why I work with an investment advlsor. I currently have $690k in a well-diversified portfollo that has experienced exponential growth and is well-matched for every season of the market. We are now working on a more figures for this year.

@ChristopherHoward-kf7yk Ай бұрын

May I know the name of the advisor who has been assisting you, please?

@lawrenceHart-ys2ct Ай бұрын

She's known as ‘Monica Shawn Marti’. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

@ChristopherHoward-kf7yk Ай бұрын

Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call

@Olvera_emi Ай бұрын

But if your car says use 91. Use 91

@mrtylersquared Ай бұрын

This is very important lol

@TObutters Ай бұрын

Came here for this haha

@lightsourcex 24 күн бұрын

Yes

@Thesakuraharona Ай бұрын

After covid, I decided to start saving as much as I could reasonably. Saved me a few days ago when car needed repairs. The more you have in the emergency fund, the less stress you will ultimately have. Still hurts, but so much better than worrying about how to get the funds

@IamAWESOME3980 Ай бұрын

Small purchases add up quick. Small bad habits will easily over take single time big purchases by the laws of large numbers

@ycshittu5412 Ай бұрын

Exactly.

@randombandit362 8 күн бұрын

Having kids will also destroy all future gains

@SeanTalkoff 21 сағат бұрын

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

@DavidCovington-st2id 21 сағат бұрын

The simplest approach to accumulate wealth is to simply get started early; investment is still a top priority. I am able to construct a decent existence since I invested early this time, having learned from my mistakes from the previous year.

@tmer831 21 сағат бұрын

The rich Invest in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment...

@SteveDutton-v 21 сағат бұрын

I thought about investing in the financial market, I heard that people make millions if you know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.

@tmer831 21 сағат бұрын

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

@SteveDutton-v 21 сағат бұрын

Hello Tmer, How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@JimmyA.Alvarez Ай бұрын

The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $750k is down to $592k any recommendation;s to scale up my return;s during this crash will be highly appreciated.

@Erickruiz562 Ай бұрын

For the average individual, the tactics are rather demanding. Actually, most of them are effectively completed by professionals who possess the necessary knowledge and skill sets to carry out such trades.

@DeannaMurray-zv Ай бұрын

A downtrend offers an equally high-yielding avenue if you have the necessary skills and knowledge. This is why I've been using an investment advisor to scale up during this difficult time, and it's the only way I've been able to raise up to $150K in the last six months. It all comes down to technique. The downtrend gives you room to focus on the market and grow-substantially whether in the long or short run.

@BeverleeR.Ziegler Ай бұрын

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@DeannaMurray-zv Ай бұрын

@@BeverleeR.Ziegler 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 Lea Jenson” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@DeannaMurray-zv Ай 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 Lea Jenson” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@PleeseCallMeDan 20 күн бұрын

Premium gas vs regular depends on the car you bought. You’ll be spending more in maintenance if you put lower octane fuel in a high octane car.

@RespectfullyCurious Ай бұрын

I like these points. Something people should definitely keep in mind. I think there's a difference between being mindful of your spending and being cheap. People say they are mindful, but really they're being cheap. Also, there's a difference between "cheaper" alternatives and just being cheap. I rather buy an "expensive" shirt that will last me years than a "cheap" shirt that will degrade quickly.

@InvestWithPrudence Ай бұрын

Vincent, as a CPA and fee-only financial planner, I have to say: solid financial advice! Thanks for making it relatable and actionable. Great job! 🤑

@just.fisayo 10 күн бұрын

I love how he went straight to the point.

@sdmugabe 25 күн бұрын

Thank you sir

@EcomCarl Ай бұрын

The 75/15/10 rule is a brilliant framework for financial discipline and building wealth. Prioritizing spending on value and not just cost can fundamentally change your financial landscape and grow your assets. 👌

@jenjentendo Ай бұрын

I practice the 50/30/20 rule but I have not heard of the 75/15/10 rule. Now that I think about it, I can switch up the percentages during the times where my bills for the period don’t take up a huge chunk of my check. This would also allow me to put more into my retirement and investment accounts too. I did pause the video at one point to look up the 75/15/10 rule and it is talked about on financial sites. So I’m definitely going to give this a try!

@Madchris8828 Ай бұрын

I'm an intentional financial minimalist because I'd rather have the money than the thing 9 times out of ten. Or the investment for that matter. Other than required expenses I rarely splurge. My last splurge was an 8 string guitar, and I play that everyday. And that was only a fourth of one paycheck.

@TycoonDynasty 15 күн бұрын

Very useful knowledge thank you!

@daloriscutone6380 Ай бұрын

What would be the best 5 etfs for a beginner

@KatChanelb12 Ай бұрын

Love your videos! I’m trying my hardest to stretch my salary and pay off my mountain of student debt. Your videos help me keep focused!

@draetonbybee9307 19 сағат бұрын

I follow the 50 30 20 rule. 50% on savings/emergency fund, 30% on living expenses, and 20% on things i want.

@Vero.does.better Ай бұрын

I love your videos.

@StormyDoesVR Ай бұрын

So I have a 401K setup with my current employer, but is a 401K (through Fidelity) auto-investing in stocks or do I need to choose what stocks it's invested in?

@grpAfactory 23 күн бұрын

I started using this rule this time last year and I was able to buy a house this year! The 75/10/15 rule is peak.

@HarperPolo Күн бұрын

Congratulations 🎊 👏🏽 💐

@jusaverage6347 Ай бұрын

Roth IRA have salary limitations, which means you can't contribute to it if you make the cut off and will pay penalties to the IRS. You can get an Traditional IRA then do backdoor transfers to a ROTH IRA so long as you don't through yourself into a higher tax bracket.

@Sodujo 9 күн бұрын

Hey, there is no link on the savings goal tracker or any button to press?

@sammiekayfoxx 21 сағат бұрын

I love the coffee rule because you’re just going to stress all day that’s you didn’t get it, your thoughts are motivating you and if you feel $5 is too much money that you’re telling your brain you don’t have enough money this is going to send you into a cycle of lack and always wanting, just get it and soon you may realize you didn’t even need it and you’ll save your money on your own, just do whatever makes you feel wealthy and wealth will follow

@firetoy 4 күн бұрын

Buy the gas your car requires if you want your car to run more efficiently meaning saving you money. Don't put cheaper gas into your car if it requires premium...don't waste premium gas on a car that can run on the cheap stuff. Info is on your gas tank door usually.

@mikevalentine9556 Ай бұрын

Thx Vincent hope all is going well these days. Still watching your vids and staying busy. Great info in this one.😎✌️🤙🤙

@VincentChan Ай бұрын

im so glad to hear mike :) what's been new with you?

@splaterpus23 17 күн бұрын

So if you already have enough cushion funds, do you invest 25%?

@Leanrm99 Ай бұрын

Technically you are already investing in an index fund with a roth and a 401k, why would you invest in a separate index fund?

@Queenk0526 Ай бұрын

Vincent do you contribute up the match only in the 401k and then contribute what’s left to the Roth? Or can I just choose one considering my income is average. For me I think I would have to choose one and just go all in.

@TylerFischer11 Ай бұрын

Contribute every dollar you can into your 401k until you reach your full employer match. Do not contribute anything into your Roth IRA until you reach that max match percentage with your employer. As soon as you've hit that amount, do not contribute any excess money to the 401k, instead contribute all excess money to a Roth IRA. If you max out a Roth IRA and still have excess, start increasing your 401k contributions again. If you max out your 401k too and still have excess money, invest the excess in a brokerage account. You don't want to go all in on a traditional 401k past the employer match and ignore a Roth IRA. Reason being, the money inside of them have different taxation rules, so when you decide to retire, having both accounts gives you flexibility to withdraw money in certain ways to avoid as much taxation as you can.

@jtotero1999 Ай бұрын

Hi, love your videos and newsletter! how much of your income represents the rent? personal finances have a magic number for this? like 30% or more?

@LK_EBM 6 күн бұрын

Ideally 30% or less

@timlawrence7204 2 күн бұрын

Question… are the 10/15/75 before or after taxes?

@filb 20 күн бұрын

What I do is that every paycheck, I put everything into a savings account. Every quarter, the 15% I accumulated throughout the quarter gets invested in my individual stocks and anything above the 15% I saved up, remains in my High Yield Savings account. When October 1st arrives (I prefer that date over January 1st), the extra cash I saved, I decided how much I will put in my Investments and keep just a little bit for emergency...and I rinse and repeat for the whole year. It has worked for me so far.

@jamespost8967 2 күн бұрын

I would maybe take a look at doing your disbursement quarterly. Never know if you're missing out on gains, depending on your savings instrument! Good luck!

@alipinckney2192 Ай бұрын

Premium gas vs unleaded isn't really a choice depending on what car you have.

@TaylorMade1982 15 күн бұрын

I work for the United States Postal Service so I believe that the 15% that I would put into an IRA and the 401K is already set up through them. If that’s the case then where else would I allocate the 15%?

@shaniquah4455 7 күн бұрын

Is moomoo only for US citizens? If so, do you know any other alternative for Canadians?

@ReizarfEgroeg 3 күн бұрын

The expected returns on U.S. equities are only 4.3% and on international equities are 7.7%, before accounting for taxes, inflation, and fees. Don't expect to get rich quick from investing.

@thomashygum5310 Ай бұрын

I like this kind of advice, but it always tailored to americans. I would like to know how much the advice changes living in a european country, specifically one where the following assumptions are met, by the government/subscription to a trade union: A 2 year unemployment fund that will pay for all basic expenses A 100% guarantee that all medical costs are covered (i.e. not insurance shenanigans where 100% coverage still means that you will get 1000's of $ in expenses) Credit scores dont exist. What does an emergency fund look like in this situation, i.e. how big does it need to be?

@Madchris8828 Ай бұрын

I wish I could point you in the right direction, but unfortunately I know very little about European finances.

@hunterandchavy Ай бұрын

I love “free range” 🥑. What kind of millionaires do you hang out with Vincent?

@Susanhartman. 19 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?

@91ScottieP 19 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.

@mikegarvey17 19 күн бұрын

Money advice varies from person to person, but planning ahead is crucial. I started working at 19, bought my first home at 28, and sought financial advice after being laid off at 36 during the COVID outbreak. Today, I'm just 25% away from my $1 million goal thanks to strategic investments.

@mariaguerrero08 19 күн бұрын

@@mikegarvey17How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

@mikegarvey17 19 күн бұрын

*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@ThomasChai05 19 күн бұрын

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

@Malik-xb5wz 17 күн бұрын

In simple terms the 1% have a lower MPC, marginal propensity to consume which means they don’t spend all their income on the consumption of goods, such as low income earners they spend it all. This means with the remaining income they invest either themselves or through an asset manager, and the rest they save. That’s it, they spend less on consumption and the rest is saved and invested

@GBOAC 20 күн бұрын

1:59 I would then rather invest in a proper coffee making setup at home so that you can have good coffee while still saving money on buying individual coffees. It’s not just either getting coffee or not, it’s to improve the economical angle.

@MPK_K1NG Күн бұрын

I am current in a situation where I am too scared to invest any of my money

@meln4214 10 күн бұрын

I'm always happy to see Mr Magic Lamp😂

@ginatanaka3228 Ай бұрын

you are so knowledgeable. Please tell me how best to invest retirement account with fixed income Or with equity.

@jmagicd9831 Ай бұрын

Depends on your time horizon, and you’ll likely need a mix of both.

@RC-wt2uo 13 күн бұрын

I drive a Mazda (CX-3) too!

@10baggerog98 11 күн бұрын

this is my new favorite chanel

@JcDaGoat Ай бұрын

great video

@youknowwithMartyKauffman Ай бұрын

oh I need a cheese machine

@pietpieper7396 Ай бұрын

I am trying to save for a long time but for a long time now atleast once a month something happens which makes me to use my cushion funds. Car breaks down, dentist. Phone breaks. Got scammed for 1200. This all is just the past 4 months. I earn around 2300 a month and trying to save 1000 but always need it for emergencies.

@VBoo459 11 күн бұрын

Those "millionnaires" that were asking for the cheapest bottle were not true millionaires. True millionaire (cash millionaires - and I do know a few, not many) they splurge on things they consider tasteful, wine, art, experiences, comfort, convenience and they really don't spend on useless things for them. Some "millionaires" may not be interested in good wine (like the ones you maybe met) but most either ARE into good wine or don't drink at all. I think thats the secret, ie. driving a crap car because it takes you from A to B but flying business (not 1st...because 1st is actually overated compared to business...I've experienced both). Splurging on a limited edition wine but not doing door-dash etc. In general I agree with your overview however

@JacobX10k 15 күн бұрын

I like the way you didn’t spend time on intro and start speaking facts

@jimsykes6843 3 күн бұрын

But what if you live in a place where it's impossible for you to spend less than 50% of your income on housing?

@mikewilson4210 Ай бұрын

Honestly You may never know the value of that $1 you have until you go bankruptcy, the bad experience I had last year really made me feel that our school curriculum should contain more financial knowledge and education. It is never enough to have a good job, a huge salary and all the luxuries at your disposal. But saving money and investing it wisely is never a bad idea,... I learned how to invest, no matter how little, but life really believed it show me the hard way. Thank you for the nice video its always interesting to watch your content

@Elizabeth-vg5lb Ай бұрын

I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment

@johnalex4006 Ай бұрын

I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this

@annhalfordgraham3512 Ай бұрын

Obviously this investment requires more money and attention to start it ?

@brucecohen7283 Ай бұрын

That's it not really true, it depends on how much you want to start the investment and with the help of a advisor you will surely be successful

@brucecohen7283 Ай бұрын

I have been on forex trading since my retirement

@Native722 Ай бұрын

I got a little confused on what to invest in, in a roth ira but I get it now. is it smart to invest in multiple different funds? Like bonds, international stocks, etc? How about brokerage account?

@GBOAC 20 күн бұрын

Check out the Bogleheads Wiki

@lindadorman2869 Ай бұрын

I think these ratios are more likely to keep you from building wealth. I prefer the 60/30/10 rule - live on 60% of your income, save 10% in liquid accounts and invest remaining 30% in long-term assets. If you can't afford to live on 60%, then you need to rethink how you earn and find ways to increase that amount, and probably need to reduce expenses as well. The reality is most people don't invest for 50 years. They only start investing once they feel stable ~age 30 and hope to retire early ~age 50 so a 20-year timeline is the most realistic.

@adonisssss2197 24 күн бұрын

How do you look for something similar to Roth IRA if you're not American? :(

@PixelPlayS0ffic1al 14 күн бұрын

The thumbnail is a very good Kda

@gaillewis5472 Ай бұрын

When I heard you say that your mechanic told you how many thousands your auto repairs would cost. My first thought was auto insurance and your $0, $500 or $1,000 deductible. Why don't you have auto insurance?

@jamesmerritt5562 29 күн бұрын

Then there are those of us in certain states where our rent or mortgage is 50% of our income or more. The biggest thing that helped me put money in the bank was becoming single again.

@FrankyChaCha 19 күн бұрын

4 month cd if u take out only 3 months if u reinvest it im under 24 im 22 so i have 2.5 years of no account fees at wells fargo that gives me 20% a year been doing this since 12 and u dont pay tax if u reinvest it and i only take out after tax time under 5k because if u dont pay tax on lottery wins under 5k why should i pay tax on money i worked for under 5k ?? So i uses that 5 k to put in a new account for the past 7 years now i have worked sinces i was 9 haven't bought brand shoes in 3 years and every coin i check thats sliver i have put in my safety deposit boc for the last 10 years im gona sell them when im 40 or when im old and look at the prices of sliver and laugh because my dad said in his time a OZ of gold was 300$ so imagine silver

@rafli117 8 сағат бұрын

knowing this at 21 (3 years of work exp) i hope im not late at all 😌😌

@LegoMexi 14 күн бұрын

Currently going to university. I’ve saved about 51k dedicated for school for next two years. Only need about 10k for one. I was hoping to put the rest in a savings account? Any advice where is best?

@Lucas_Nw Күн бұрын

This is good, and I will save this. But at the moment 90% of my salary goes to the university.

@rahulsinha___ Ай бұрын

How much money actually need to achieve time location and finance freedom globally??

@VincentChan Ай бұрын

it really depends on where you live

@rahulsinha___ Ай бұрын

Let's say USA

@yammomatta Ай бұрын

@@rahulsinha___ 2 million

@JillsHouse Ай бұрын

You must really love pineapple pizza to spend $50 each month. That's a lot of pineapple pizza. 🍍

@Madchris8828 Ай бұрын

Lmao true. I stand behind Vincents pineapple pizza addiction 😂

@VincentChan Ай бұрын

LOL how much do you spend on pineapple pizza each month?

@Madchris8828 Ай бұрын

@@VincentChan man I haven't had a good pineapple pizza in months 😂

@JillsHouse Ай бұрын

@@VincentChan Pineapple pizza sounds really good. I may get one today! 🍕

@edlee9432 Ай бұрын

He recommends job hopping but worried you won’t be able to find a job. 😂

@AR-ln7ln 8 күн бұрын

Extra $1000 into Roth the year you turn 50. Don't have to be 50 yet when you contribute at the beginning of the year. It's fine to trade inside Roth, just don't lose money. Those are things about Roth youtubers rarely mention.

@bootstrapstylerich 27 күн бұрын

"IF" you're not the "1%"...its 50/30/20!

@Emmahernandez. 21 күн бұрын

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.

@CherryDoge08 Ай бұрын

Can you provide an example of $400 being split using this rule?

@terminaterdYT 3 күн бұрын

300 for general spending. 40 for “cushion fund” 60 for future investment

@tab_ta Ай бұрын

8:42

@oddproductions Күн бұрын

LOL. Friends with money are always the first to ask for that 20$ back.

@CoryLafund 21 күн бұрын

I'm 42 with $300k in my 401k and a stock and crypto portfolio worth a combined $850k. I started investing just 2 years ago after working for 15years and having just short of 70k in savings. I'm still with the same company but my decision to invest has made the difference for me and my family. Investing is your best friend. The sooner you start, the better off you are.

@Fabulousmathaias 21 күн бұрын

You could retire now If you moved to a cheaper country. Good job.

@NaomieEvaAddams 21 күн бұрын

It’s scary how this is the life of an average American. Years of working and very little or nothing to show for it.

@BrettGregory299 21 күн бұрын

Living from paycheck to paycheck is no way to live, Was stuck in the rat race for a long time, been there, and investing will always be better.

@RyanCole295 21 күн бұрын

The importance of investing can never be overestimated.

@DanielHaskel 21 күн бұрын

I got laid off my job and started investing in February, invested 34k in the market and my portfolio is currently worth slightly over 97k. That's more than I make in a year from my job. I’m glad I didn’t shy away from investing

@Meek42069 2 күн бұрын

Without even knowing it i was already using 75/10/15 rule

@heidenpereda8348 Ай бұрын

What about replacing a roth ira and a 401k with a IUL or any investment policies where my money grows with a higher interest and has a greater limitation on my contributions?

@jaketrifari8002 Ай бұрын

You don’t choose which gas you use, you have to use what the manufacturer says too

@chillivisuals8683 16 күн бұрын

i save 60%

@JanetOrtega-th6se 18 күн бұрын

The problem today is most people always think that, you only need a good job to get rich... These millionaires are operating on a whole other playbook that many don't know exists

@TomPolifka Ай бұрын

Always great insights Vincent! What's funny is it drives me crazy the way you use your mouse lol but to each their own.

@VincentChan Ай бұрын

hahha it helps with my carpal tunnel D: id love to use a regular mouse, theres a lot a lot more nicer looking regular ones :P

@TomPolifka Ай бұрын

@@VincentChan I don't envy the carpal tunnel

@TheGavranatar Ай бұрын

As someone from Northern Ireland I find all this chat about the IRA very confusing

@papajahmani Ай бұрын

@josephduenas4718 Ай бұрын

im not the sharpest tool in the shed but im just glad someone realizes you dont have to keep the percentages at 50 30 20.. hell dont even need to keep it in 3 cats 😂🤝🏽🍻

@Adambarking Ай бұрын

This was brilliantly put together Vincent. I’ve been following your videos for months now and with professional help, I’m making outstanding progress with my money decisions.

@heidenpereda8348 Ай бұрын

401ks are attached to the stock market which employees are in risk of a downfall in their savings. Also this money gets taxed if its taken out before the age 59 1/2. Will IULs have a better return and more benefits?

@societykrew Ай бұрын

IUL returns are diluted by commissions and returns aren’t guaranteed. Very few people will benefit from that type of purchase over traditional investing

@zacido_games 2 күн бұрын

You forgot to explain how to avoid taxes like the 1%

@sagecole8055 18 күн бұрын

i wish I could do this. i need about 300% of my income to just cover rent / utilities / groceries

@thelamb9656 13 күн бұрын

Just saying driving a 500hp subaru is nice and driving never gets boring😂

@chunk4520 Ай бұрын

What’s the best free budget app I live in Bermuda so most of the apps don’t work

@alexsob Ай бұрын

Hi! Great video, I have a question. Where does a mortgage fall on this framework? Not sure if it is part of the 10% of investment or if it’s part of the 75% as “housing expense”.

@oluchinwagboso7996 Ай бұрын

I'd it's a home you're going to be living in then it isn't primarily an investment

@jcig1501 Ай бұрын

You failed to mention the Roth 401k

@Lloyd.Locker Ай бұрын

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

@lowlowseesee 12 күн бұрын

putting pizza and frivolous stuff in the cushion fund isn't necessary lol. it can be for bare fixed cost like rent, groceries and utilities. Ramit Sethi calls it an emergency fund which is what many folks call it. you dont need pizza and dining out if there is an emergency lol

@fsanchez90 4 күн бұрын

Should mention the backdoor method for those that have too high of an income to invest in a roth IRA.

@Marmael 17 күн бұрын

You Cant Use That Rule IRL Only applicable when you have a big income

@prodigy1605 3 күн бұрын

I was a huge believer in Roth IRA but the government is planning on taxing it in the future so I would just use a traditional account and not use the 401k or any other retirement account you don’t have full control over.

@ellaraykondrat Күн бұрын

Source?

@prodigy1605 Күн бұрын

@@ellaraykondrat I replied with the source and the video owner deleted it or KZfaq . It is on the irs website or you search 401k tax on investopedia they have a nice article

@mxmblngr 6 күн бұрын

Important lesson from this video... You should have car insurance 😉

@craigwellons4634 Ай бұрын

Let me help you. Buy full coverage auto insurance.

@psikeyhackr6914 Ай бұрын

What kind of WEALTH do they have? Real estate, blue chip stock, treasury bills, gold, all of the above? Why haven't we made accounting/finance mandatory in the schools for boys and girls since Sputnik?

@ellaraykondrat Күн бұрын

Because it’s a Ponzi scheme!