Order of Life Events for Success (Education, Work, Marriage, and Children)

  Рет қаралды 1,011

Financial Freedom 101

Financial Freedom 101

Ай бұрын

How does the order of major life events impact people's odds of being poor? What is the best order of graduating, getting married, and having kids to avoid being poor / broke? How does education level relate to unemployment rate.
Source data / sites:
www.bls.gov/charts/employment...
www.brookings.edu/articles/th...
ocpathink.org/post/independen....
www.vox.com/2015/7/24/9027195...
www.brookings.edu/articles/ra....
www.aplu.org/our-work/4-polic....
Disclaimer and safe Harbor statement:
Topics discussed may include predictions, estimates or other information that might be considered forward-looking and results are not guaranteed. Prior performance does not guarantee future performance. This is not individual investment, legal, or tax advice. Investments carry risk and can lose value. Make sure to complete your own due diligence and work with licensed investment, tax, and accountant professionals when making financial decisions. Financial Freedom 101 is not responsible for any of the financial decisions that you make. Financial Freedom 101 typically has investments including, but not limited to positions in diversified ETFs and mutual funds such as SPY, VOO, SWPPX, FXAIX and others which may contain holdings in the companies discussed. The content of this video is for entertainment purposes only.

Пікірлер: 16
@WateringDNami
@WateringDNami 22 сағат бұрын
Wish they taught this in school. haven't even got anything figured out and im in my 20's. Amazing video man ty
@amankalra9848
@amankalra9848 Ай бұрын
Love your content, please keep doing what you are doing!
@financial_freedom101
@financial_freedom101 Ай бұрын
Thank you, I will keep making more videos. I am approaching this channel as what would I tell my wife and daughter if I was no longer around and what gives them the best odds of having an easier life, how to make more money, how to save on taxes, and how to invest. If you have a question/request for a video let me know as a separate comment train since only new comments will show up on my feed.
@nekopop8159
@nekopop8159 Ай бұрын
I’m in college studying electrical engineering and trying my best to study it.
@financial_freedom101
@financial_freedom101 Ай бұрын
The hardest classes in engineering were normally the math classes and I have seen a lot of people take them at community colleges as pass / fail which helped the GPA in the 4 year university when they were transferred in, just a thought if your university allows up to 4 classes of transfers. Good luck and keep at it. mid career engineers generally make over $100,000 per year.
@nneisler
@nneisler Ай бұрын
Keep at it. If it is too hard look at other engineering majors. Get through the hard classes no matter what and try to take easier electives. Try to find a subject you really enjoy and focus projects on that (like analog circuits, etc). I was physics/Industrial Engineering. Make it happen!
@financial_freedom101
@financial_freedom101 Ай бұрын
I agree, the saying at my school was that the limit as credits approach completion engineering students went to business. Generally in order of difficulty was Nuclear, Chemical, Mechanical, Electrical, Civil, and so forth. Chemistry engineers left because of chemistry. Most left because of math. Electrical from AC circuits, programming logic, and math. I have had some friends take 6-8 years to finish their degrees but it is the same piece of paper as everyone else. When I took the FE and PE, I passed on the first attempt and others took 6 times but they still get the same letters and pay. They never gave up and it has paid off for them.
@ReesHaynes
@ReesHaynes 29 күн бұрын
This would be great if you lived in 1985
@financial_freedom101
@financial_freedom101 28 күн бұрын
Yes, it worked in 1985, 1950, and it still works today. Life is hard and it helps to work as a team. Leverage helps the most to make more money.
@nativestrong7253
@nativestrong7253 Ай бұрын
Marriage will not work out unless you have a good year of just the two of you doing life together before worrying about pregnancies. You have time to properly plan, instead of taking last minute shots in the dark at something you never truly built.
@financial_freedom101
@financial_freedom101 Ай бұрын
Big items to make sure you agree on would include: values, morals, religion, political views, and finances. These become huge especially once married and even more so when raising children. Looks fade with time. Have fun debating over which way is the right way for the toilet paper to go or not only how, but when various chores should be done. Also agreeing on should you save, invest, spend what money on what thing when one person likes to spend everything be in debt and live for today when the other may think about the future and put off spending money because they care about security.
@googleaccount8864
@googleaccount8864 Ай бұрын
Correlation is not causation!
@financial_freedom101
@financial_freedom101 Ай бұрын
Correct, but it is very difficult to make a higher income when someone is a single parent that dropped out of school before graduating high school to even work full time due to childcare issues and lack of education. Life is much harder for that individual and the statistics show that they would have a 52% chance of living in poverty vs someone that graduates high school, is married, works full time, and waits until after 21 to have children has only a 3% chance of living in poverty.
@googleaccount8864
@googleaccount8864 Ай бұрын
@@financial_freedom101 You have to consider opportunity cost in your assessment. A woman who waits for children is less fertile and doesn't attract as valuable of a mate, for example. Postponing children risks never having them because you skipped over a mate opportunity. Staying in school may mean forgoing starting a business or learning a skill, or getting married earlier, or having an extra child. Income is not the only measure of wealth, so opportunity cost needs to be more strongly considered. In old age people rely on children more and income may be less necessary with more children to help.
@financial_freedom101
@financial_freedom101 Ай бұрын
It was only referring to graduating high school which most will complete by age 17 or 18 and waiting to have children at 21 years old which is still around the prime time to start having kids biologically. It is very hard to provide a stable loving home when constantly worrying about paying for a place to stay, food, utilities, safety, etc. I grew up poor and my parents divorced and I saw this in my family as well as friends. It puts a lot of stress on all involved and if it is a single mother the children have significantly increased chances of using drugs, dropping out of school, committing suicide, being incarcerated, etc. We agree that success is not all about money and I would add it also has to do with how the children become kind, caring and productive members of society when they reach adulthood also. 85% of youths in prison come from fatherless homes 71% of high school dropouts come from fatherless homes 90% of all homeless and runaway children are from fatherless homes 60% of youth suicides are from fatherless homes www.nolongerfatherless.org/statistics#:~:text=85%25%20of%20youths%20in%20prison,live%20without%20their%20biological%20father Consider these dire statistics from single parent households: 63% of youth suicides (Source: U.S. Department of Health and Human Services, Bureau of the Census) ➲  90% of all homeless and runaway children ➲  85% of all children that exhibit behavioral disorders (Source: Center for Disease Control) ➲  80% of rapists motivated with displaced anger (Source: Criminal Justice & Behavior, Vol 14, p. 403-26, 1978.) ➲  71% of all high school dropouts (Source: National Principals Association Report on the State of High Schools.) ➲  75% of all adolescent patients in chemical abuse centers (Source: Rainbows for All God`s Children.) ➲  70% of juveniles in state-operated institutions (Source: U.S. Dept. of Justice, Special Report, Sept 1988) ➲  85% of all youths sitting in prisons (Source: Fulton County Georgia jail populations, Texas Department of Corrections 1992) post.ca.gov/portals/0/post_docs/publications/Building%20a%20Career%20Pipeline%20Documents/safe_harbor.pdf
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