What is up guys!! Hope you enjoy this video. Make sure you're subscribed! Getting close to 1M :)

SHE RESTORED MY FINANCES.

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

At 40, I wish I could go back to when I was 18. I would have never quit pursuing video production, wouldn’t have gone to college and taken on debt, and I would have done a KZfaq channel in the hey day. And I would have done the things in this video. I would have gotten married. Yeah I would have done a million things differently. But you can’t go back. No you can’t go back. You can only move forward. In my cas It is hard to do but the best thing to do is pick up the broken pieces and make the most of them.

Automating my finances has been one of the biggest keys in helping me not only stay out of debt but save money without even thinking about it. This video is super valuable... great work Humphrey!

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement of about $750k. I want to know: Do I keep contributing to my portfolio in these unstable markets, or do I look into alternative sectors?

My priorities is a little different 1. Necessities. Rent, food, healthcare...things to live. 2. Safety net, 3 months of expenses 3. As much towards debts as I can (Not just minimum payment) 4. HSA 5. 401K and any other investments

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.

I realize that it can be a wise way to keep investing during times of volatility to build wealth. I've heard testimonies from people who have accumulated over $80,000 during this red period. What measures can I take to ensure this?

I love your videos. Unfortunately, it's been a while since I visited I am experiencing one of the most challenging phases of my life... Lost a fortune investing in emerging companies... Hopeful, for a turnaround.

In Australia, Superannuation is a compulsory payment made by employers. Salaries are usually referred to as a yearly amount + super, which currently is 10.5%. IE. if you have a salary of 50K, the total package of your salary is 55,250. You can then make additional contributions to your super which has certain tax advantages.

I could have used this 20, 30, 40 years ago... No one ever talked to me about money. I've only been saving for retirement the past 5 years. Just turned 60. Have such a long way to go with Step 5 paying off debt, and Step 3 building an emergency fund. Steps 1, 2, 4, and 6 are covered. Step 7 is in La La Land for me. I won't worry about that until 3 and 5 are taken care of.

This is fantastic, it’s helpful to show a step-by-step plan of what to do with your money each payday. The flow chart is brilliant!

To enhance our long-term investment mix, my partner and I are introducing a range of stocks and ETFs. We've committed $220k initially, with a particular emphasis on inflation-protected bonds and businesses demonstrating robust cash flows. I see potential for enduring growth in the current market, yet I'm also keen to explore strategies for generating short-term gains.

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments

For the last 20+ years I have used first Microsoft Money and now Quicken to budget my money at least 90 days out. I find that covers pretty much any cyclical purchase and gives me a good idea of how much I will have saved over the next 3 months.

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

I love your videos so much! The way you talk about personal finance, budgeting, investing, etc. is very inclusive. Some people in the youtube finance space are so out of touch with the average person.

I completely agree, The first $100k was the toughest, and I didn't really start seriously investing until I was 30 back in 1998. Today, I'm 55 and have a decent $3.2M nest egg, thanks to the careful supervision of my CFP. After learning all of this, my only regret is not starting earlier when I was 25. It may not seem like much but those extra 5 years are the most important.

The way you explain is phenomenal. Much needed. Thank you!

Taking early notes from Warren as to the importance of sound asset diversification and risk management It can’t be overstated.

What a clear, concise explanation of a complicated topic! I enjoyed your straightforward style so much, I couldn’t wait to like and subscribe to the channel! Keep up the great work - these videos will help a lot of people with their financial planning!

Decent solid advice, but I was taught be careful w/ CC payments so that you can pay the 100% of the sum. The moment you don't, the company has you on the interest. Gotta keep that up.

Love this video. My dad gave me similar advice. Great advice. It's scary that 64% of people can't manage money or know how to save it. Let's hope people will apply the advice you give them from this video. It takes a lot of discipline and dedication to do this.

Putting well-earned money into the stock market can’t be over emphasized for first - time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.

For my student loans I been combining both avalanche and snow ball method. I payed my high interest private loans first, took me about half a year of big commitment as it had a very high interest rate, and now with the remainder of my loans since they are much smaller and have very low interest rate I am paying off the smaller ones first just to reduce monthly payments as much as possible this allowing me to save more efficiently and not feel burdened.

Thanks so much for this awesome video. You’re one of my favorite channels on here. I wish I saw your videos in high school ! Too bad no KZfaq then lol

In Australia Superannuation is compulsory/automatically paid out at a rate of 10.5% (slowly being increased to 12%). Great system!

I didn’t truly understand how little most people track their finances until I started working in payroll. 99% of the time payroll runs as planned. But employees need to be checking their paystubs to make sure it’s correct. I’ve had people come up to me MONTHS after they last time they received a paycheck. Yes, we still fix that and catch them up on paychecks. But how can you go the better part of a year without noticing you aren’t getting paid?!

I like that you translate financial terms considering all continents.

In Malaysia, we have EPF/ KWSP which is named as Employee Provident Fund. It is mandatory auto deduct from our salary 11% and employer match up another 12-13%. We can't take out the money untill we are 55/60 Y/O or in some circumstances. In my POV this is a great programme where the citizen are kind of secured in future after retiring. Btw the annual dividend percentage is higher than keeping in any other bank in Malaysia as in fixed deposit manners.

One thing to add is that there are some math advantages to regular IRAs over Roth accounts. They're generally better when you're younger because the money should stay in the market longer and grow larger but then be taxed at a lower income rate in retirement. They are less liquid though and of course the math changes for everyone.

not investing in a 401k might be a bad decision if your employer is matching. then you're leaving free money on the table. great video Humphrey!

love this video! helps me a lot and opens my eyes! love the channel and can;t wait to watch the next one!

Great information. This keeps me on track.

This such a good refresher. Thank you!!!

Actually, there are at least three methods to pay off debt: avalanche, snowball, velocity banking. The third option is amazing for those without a serious spending problem who want to fast-track high-interest debt payoff.

I'm learning so much from you. Thank you!!!! 🎉

Thank you for your video. It's easy to understand.

Good video, easy to understand video for beginners about building a sound foundation

I love the visual flowchart and colour code charts helps me understand the Maths. THANK YOU times a million 😘xoxo

Great advice thanks Humphrey.

I didn't become financially independent until I was in my mid 40s, in addition to owning a second house making money on a monthly basis through passive income, and I've also met some of my goals. I really hope this motivates someone to know that it doesn't matter if you don't have any of these things yet; no matter your age, you can start today. Investing can help you change your future! By participating in the financial market, I took a significant decision.

It's pretty simple anno 2023. Just have your bank set up in such a way (most banks have apps in which you can do this) that, say. 10% is sent to your personal savings after your monthly salary comes in, another 10% into your emergency fund and for example, a part into the joint checking account between you and your partner. That way, groceries, nights out etc. are paid from the joint account, you're both saving, and the money you have left in your own account is yours to do whatever you please. That's how we set it up and it works - savings are building up over time and it's done before you even see that you have new money in your account.

Well explain, Excellente presentation, good education.

Really needed this video today Humphrey!

Appreciate you. Thanks for the info

Just recently started following your channel and I have to say you have really helped me with managing my money, making it work for me and not the other way around. Kept on hesitating when I should start investing but this channel rly inspired me to actually take that leap so thank you!

28 yr old I’m so glad I’m watching this video walking into my 30s it’s still time 🙏🏿💪🏾

Love your videos! You've mentioned in the past that you previously dabbled in the gaming industry. Any thoughts on EGLX?

Great point-something to think out the later you start the higher your investment will need to be or if you stop during certain period of time. Had to restart my retirement accounts but investing 25-30% of my gross income to catch up. Also was able to pay off all my debt which freed up a lot of money.

Great video and teachings. Thank you very much. I just open a Roth IRA using Vanguard. I want to start buying at minimum 3 stocks. Which ones do you recommend?

Very helpful and much appreciated the plan.❤

I always recommend that people have 3 separate bank accounts one for payments, a second for food, and a third for personal use that way you know where the money is going and it is a lot easier to track your expenses I personally have 4 and the fourth is for clothes and shopping in specific stores because I get bonuses using that card in those stores

Great video ! One bit of advice, you gotta give yourself something. An example would be $100 a week as spending money. If you don’t do this you’ll lose your mind

Very good ideas!!! Thanks for sharing!!!!❤

I love listening to everything these legends talk about!!! The volume of practical experience of decades they have one can't find in books or anywhere else!!! I already own shares of Tattooed Chefs and Kairos Minerals, and I'll buy some Corsair as well. Sure, I don't mind having these equities sit around for a few years, but I'd also like to appreciate short-term profitable investments that could, say, turn $100K into $500K.

Belive it or not im watching from costa rica. Great video, thanks

BRUH im glad i found your page by far most direct oinvesting and finance ive seen for the average person you keep it dumbed down enough for anyone to watch i feel like i am watching a live action of investing for dummies i really appreciate your videos i gotta binge watch know THANK YOU

@10:38 Cavat to withdrawing from a Roth IRA. First off, it is not tax free off the bat, there is a 5 year waiting period of only contributions. If you take the principle out at any point, while there is no penalty (because it was after-tax dollars), it resets the 5 year clock for it to be enabled as tax-free. Just an FYI for everyone =)

If you have a roth 401K and it had an employer match, then yes, you are literally throwing away tax-free money if you don’t use it. Short of those, you have a liquidity risk along with standard market risk for not much more return compared to a standard brokerage account.

Appreciate Mr Sam content . Do you mind sharing the platform name showed around the 4 minute mark? Also, is it like a tracker for your affiliate links or what's the nature of it exactly? Again, your content is awesome 👌 keep going

Great production value 👌 love the flowchart

Thank you for sharing your experiences and skills with all of us.

Really appreciate your informative videos Humphrey 🙏🙏🙏💪💪💪💯💯💯

Definitely THE BEST video I’ve seen on this topic!!! You explained everything very clearly and concisely, and the flow chart was a great value added item. Thank you so much - you’ve earned yourself a new sub!! ⭐️⭐️⭐️

Worthy advice, as always!

Humphrey, I want to teach my 10 and 6 year olds financial literacy starting early. Would you be open to having some videos on that? I’m sure there are a lot of parents who would really appreciate that.

I didn’t realize just how damn good my 403b employer match is until you said most employers match 3% on 401k. Mine matches 200% on my 403b (public higher ed)

Loved the opportunity cost section! Forced savings help a lot of people lol

literally set up my SoFi before finishing this video. THANKS

Thank you for this awesome video

This is a really awesome video. I’ve seen how debt can put people’s lives on hold, and that is something I absolutely 100% want to avoid. I’m 18 and have been building my credit for a while. Only using credit for gas is a great way to safely do this. I’ve been setting aside every penny that isn’t used for food, rent, and car stuff like insurance and gas. Definitely want to save save save and buy my first rental property at some point using that saved money that I’ve invested into mutual funds.

Beautiful. Bull eye advice

Great info.

Comprehensive good starter video

FANTASTIC VIDEO 👏👏👏

Good vid. I like it👍🏻

Hi Humphrey, I’ve very late on saving my money but I’ve been doing some contributions to my mutual fund and RRSP (15%). I’m a freelancer so my income is definitely not stable, some months are amazing and then some are just down time. I’m trying to save by percentages but living pay cheque to pay cheque is a little harder sometimes. Any tips or advice on such situation will be greatly appreciated. Thank you so much.

Do you need to max out your work 401k contributions before opening a Roth IRA? I ask because I'm military, so my TSP contributions max out at 22500 (I think) a year. I contribute 18%, which is well above what the military will match. Should I work towards hitting that 22500/year first or go ahead an open a Roth IRA?

The taxes that you have to pay on a 401k can be to high.Thats why i moved to a roth IRA.The 50/30/20 rule work for me as well.

Super in aus I like, force savings is nice, plus we can salary sacrifice more pre tax to save same tax savings and currently have saving schemes to purchase your first house by putting extra money into your super, but not the money the employer has to put in on your behalf

CDs are good too. You can get one for three months and watch it grow like a plant.

I live in the UK. I started from 0 when i was 20. Im 27 now, and I want to start investing properly. I appreciate your videos a lot. Hopefully, I will set up an ISA or something soon!

You rock Humphreys

Unsure if you're still replying here, but I'm a US watcher. Recently was not working, and am back to work, but racked up around 3k credit card debt, and have about 700 monthly obligation in bills outside of that. Should I be aggressively hitting step 1 (Paying debts) instead of doing minimums, or should I build back my emergency fund first..?

Point 1, where he speaks on missing a credit card payment, I have heard of requesting a credit report offset or update request you can make with the reporting agency.

Awesome content

New Zealand has compulsory superannuation as well, the Employer contributes 2% and we contribute between 2% and 10% (we can choose)

Ur heading to 1M so deserved!

I'm 26 and never really watched finance videos before. I thought I was behind the ball, and after watching this video I have actually done all this prior, Soni think I was thaught well by my dad when I was younger lol

my biggest debate I'm having lately is whether or not to put money in the market or just put it all in a sofi account to continue saving up for a home, I think it's possible we see one of those lost decade situations here in the states in the near future but whay thebhell do i know 😅

Something to think about for people in the USA using a subsidy from the healthcare marketplace. If you are considering adding a "side hustle" that reports and files taxes, not like walking your neighbours dog or something... you have to go in and notify the marketplace and either start paying more on your health insurance or choose a less valuable insurance option. Otherwise you will probably end up owing taxes at the end of the year. I was burned in the past.

@Humphrey, I have both a Roth IRA and a 403b.... I save about 15% of my income in these accounts. I am partial to wanting to max out my Roth first and then using the rest for the 403b....any thoughts on this strategy?

What’s the best High yield savings account ?

WOW ... seems you got really good discipline. You not paying yourself a penny (to spend on "unnecessary" stuff). I tried this for around 12 months and was kinda miserable. Now I try to spend the least possible amount on "unnecessary" stuff - like electronic, or even the simplest items I can live without but they make me happy. It's much better to my mental health - to pay myself some small amount for hard work I've done last month. It depends, but I mostly buy something small that makes me happy (accessory for my camera, sunglasses, board game, something for my kids we can use together, outdoor wood fire pit, etc). Sometimes I buy much more expensive thing ... but it's planned to be paid off within known time (so new camera, paid within 12 months, etc). But at the moment my mortgage is 8.86% interest rate so most of my money goes there .... I know this interest is ridiculous ... but few months back it was above 10% ....

Great tips!

Great video with sound advice. I think I'll accidentally put this on while eating dinner with the kids tonight, and tomorrow, and this weekend. Thanks and keep the good advice coming.

I just started to seriously save in October 2023. It’s now June 2024 and I make it a habit to save 22% of my biweekly pay into my HYSA (from $0 to $9.1K) and I’ve maxed out my retirement contributions for years. I’ve also borrowed from my retirement to remodel my kitchen and deck. The loan was for 5 years but I paid it off in 3 because the rate of the loan was only 0.6250%! Oh, and no credit card debt. 😁