The Snowball Effect -- How Your Wealth Grows Faster Over Time (Eye-Opening)
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Күн бұрынThe Snowball Effect -- How Your Wealth Grows Faster Over Time (Eye-Opening)
If you’ve ever felt like you’re not making financial progress quite as quickly as you’d like, you’re going to be relieved to hear that progress accelerates and picks up speed. So much so that you're going to be amazed at how quickly your wealth begins to accumulate. The snowball effect, akin to a snowball rolling down a hill and gaining size and momentum, can really accelerate wealth growth over time. As average people progress on their journey of building wealth and pursuing financial independence, they create a compounding effect resulting in exponential wealth growth. This is amazing news for anyone who feels like they’re not quite making enough progress. Take a look at the key factors that drive the snowball effect of wealth accumulation and why you should expect exponentially more financial progress each year going forward.
@CatherineWilson8 5 ай бұрын
Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..
@LukeMcfarlane5 5 ай бұрын
The first step in creating wealth, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
@ritalorrigan 5 ай бұрын
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m glad I was able to hire a financial advisor “Natalie Lynn Fisk earlier this year since while others were complaining about the downturn, I was busy cashing out from my investment, eventually making over seven figures in the first quarter alone…
@ScottArmstrong12 5 ай бұрын
Your advisor really seem to know this stuff. I found her web-page online when I google up her full names, read through her resume, educational background, qualifications and it was really impressive. I left her a note and booked a call session with her hoping she gets back to me soon
@DorathyJoy 7 ай бұрын
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
@EdwinSolomon-zs3nz 3 ай бұрын
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
@RaymondKeen. 3 ай бұрын
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant and everything changed. In in the first quarter of this year i made $370k and counting.
@RaymondKeen. 3 ай бұрын
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@Stellaanderson-qx5nl 3 ай бұрын
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
@RaymondKeen. 3 ай бұрын
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@MargaretMargaretKarjala 6 ай бұрын
Rather of relying on penny stocks, I wish to diversify my assets by investing in ETFs/index funds/mutual funds and stocks of corporations with stable cash flows. I received $400k from the selling of my property. What should I do?
@jonas77718 6 ай бұрын
Remember that investing in the market carries risks, and it’s important to do your own research and consult with a financial advisor before making any investment decisions.
@MargaretMargaretKarjala 6 ай бұрын
With the help of an investment advisor, I was able to diversify my $550K portfolio across multiple markets, and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks, ETFs, and mutual funds
@jonas77718 6 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.!!
@MargaretMargaretKarjala 6 ай бұрын
I started out with an FA named Stephanie Kopp Meeks Her honest approach gives me complete ownership and control over my position, and her rates are incredibly affordable given my ROI.
@jonas77718 6 ай бұрын
I just googled her name 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 call.!!
@McElvinn 9 ай бұрын
Taking early notes from Warren as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.
@corrySledd 9 ай бұрын
It's more challenging to create a strong financial portfolio, so I advise you to get help from a professional. You can then receive strategies that are specifically suited to your long-term objectives and financial aspirations.
@sheltonPston 9 ай бұрын
Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2016 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.
@AUstinnesc 9 ай бұрын
Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this advisor?
@sheltonPston 9 ай бұрын
My consultant is Nicole Desiree Simon She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.
@AUstinnesc 9 ай бұрын
I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away
@ericmax978 6 ай бұрын
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly
@user-im7qe6ve4t 6 ай бұрын
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
@ericmax978 6 ай бұрын
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
@SophiaMichael-ww4qd 6 ай бұрын
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s your financial advisor or coach, do you mind hooking me up?
@Brigh578 6 ай бұрын
I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
@user-mc4hy7cj1i 6 ай бұрын
Honestly, How can I be part of this project I earnestly hope to build a strong financial future I'm interested to take part, who's the person behind your success?
@martinrbookermb 9 ай бұрын
Great video, as people earn more money they have to be careful of lifestyle creep and not just spend the extra money they earn as time goes on. Living below your means is key.
@joesphcu8975 10 ай бұрын
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have about $70k amount of capital to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
@alexyoung3126 10 ай бұрын
Invest if you actually want to be wealthy. However, you should get guidance from a financial advisor if you want to create a successful long-term plan….
@lawerencemiller9720 10 ай бұрын
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
@johnlennon232 10 ай бұрын
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
@lawerencemiller9720 10 ай бұрын
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "Helene Claire Johnson" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
@johnlennon232 10 ай бұрын
This is useful information; I copied her full name and pasted it into my browser; her website popped up immediately and her qualifications are excellent; thanks for sharing.
@dustinjones8887 10 ай бұрын
As someone who didn't fully understand the snowball accumulation in a 401k with index funds through most of my life, I am still mixed on my actions of saving big cash, as opposed to investing more when I was younger. I saved up and basically bought my house cash. I calculated I only spent $2,100 total on my mortgage interest with a small mortgage loan after 68% down payment, paying it off in 3 years. I'm well aware if all that money had went to my 401k from the previous 13 years of saving cash, it would've been exponentially higher in compound interest later on. But, I know me. I really loved not having the stress of a huge mortgage loan. But a part of me kind of regrets not investing all that early on, instead of saving cash.
@thecurrentmoment 10 ай бұрын
You can have regrets no matter what you do. At least you have a home! Some people are regretting not investing for retirement AND not buying a house.
@ryanlemmers5300 10 ай бұрын
You’re way ahead regardless. I paid off my home before seriously investing too. Best decision ever!
@grantv2313 9 ай бұрын
“Most people’s income grows with time” and there’s the rub for some people. I needed to be making my current income about 15 years ago. Now that I’m here, I need to be making about 20k a year more now than I do. A second job isn’t realistic. Raises are few and far between! A 3% raise doesn’t help much when we just had 9% inflation last year and 5% this year. Still waiting to see if I can get that 3%. Hasn’t showed up yet. I’m glad other people are killing it. In my 40s, I am not.
@Trignama1 9 ай бұрын
9%, 5%? Try 30% lol
@free5370 9 ай бұрын
Absolutely, I know it’s prob not viable as you may have family/kids but the move nowadays is to literally live below your means.. I’m talking sell everything and invest in a new truck with a canopy and live out of it, cheap gym for showers and only eat from grocery stores. Do this for a few years and heavily invest every last dollar into the market and then resume your normal life again after a few years, you’ll be surprised with the head start but.. who wants to do that?
@d_all_in 9 ай бұрын
You could look for a new job, just saying.
@GeneralSirDouglasMcA 9 ай бұрын
@@d_all_in Agreed. It can be easier to say than do, but it’s necessary in many cases. I’m surprised at the number of people I see working as a cashier at Dollar General or as a waiter/waitress. Those jobs are not bad for a young person entering the workforce, and not bad for a retiree wanting a little extra income. But you don’t stay there all your life earning minimum wage. It’s stagnation to work the same low paying job your entire life.
@tonyherdina9142 10 ай бұрын
You go through stages in life. I've always contributed to my work 401k. When I bought my first house any extra money was spent fixing it up. Then I got married and had kids, there went that extra money. Outgrew that 2-bedroom house and had to buy a 3 bedroom house. Then you make financial sacrifices for your wife and kids. Now I'm getting near retirement and finally paid off my house. Only now do I have extra money (besides my 401k contributions) to sock away into investments.
@robertmckay5839 10 ай бұрын
That's my problem! I haven't made progress in my career!! Who'd have thunk it....
@thewilliams- 10 ай бұрын
Curious, I’d be retiring/working much less in 5 years, and keen to know best how people split their pay, how much of it goes into savings, spendings or investments. I sometimes earn up to $200K per year, but nothing to show for it yet.
@FaithMotasi 10 ай бұрын
It's ultimately up to you, but given the uncertainty of the future, seeking guidance from a financial advisor for proper financial and investment planning would be a smart choice.
@kelbenjamin 10 ай бұрын
@@FaithMotasi Agreed, I'm quite lucky to have been exposed to finance at an early age, started a job at 19, got married at 26, purchased first my home at 28, got laid-off at 36 just after the corona-outbreak in 2020. Going forward, I had to keep my head above water, thus hired an advisor at once, and after subsequent investments over the years, I'm only 25% short of $1m ballpark goal to date.
@thewilliams- 10 ай бұрын
@@kelbenjamin It seems like you've made some wise decisions! Regarding your advisor, do you think they'd be open to speaking with someone new like me? I could really use some guidance on portfolio reallocation, especially given the current market volatility....
@kelbenjamin 10 ай бұрын
@@thewilliams- I'm fortunate to have Eric T Witt as my experienced and reputable advisor. If you take the time to do some research, you'll likely come across his impressive success stories too.
@thewilliams- 10 ай бұрын
@@kelbenjamin thanks for this info, curiously copied and pasted his full name(found out that the T in his name is Thomas btw) on google, found his site and skimmed through the credentials, no sweat .. over 10+ years of undisputed experience is quite striking!
@KPad87 10 ай бұрын
Been investing since I was 19 and this is really true how compounding is insane .
@blackspiderman1887 9 ай бұрын
People don't realize that the money you gain from appreciation is lost through the interest you're paying on your mortgage. If mortgage at 3.7% or higher, it means you're paying double the amount the cost of the house in 30 years. So unless someone is renting your rooms and paying your mortgage for you you're not gaining appreciation. Unless you pay cash
@ChrisInvests 9 ай бұрын
True but what if your mortgage and other costs are the same as what you'd be paying in rent?
@blackspiderman1887 9 ай бұрын
@@ChrisInvests yes I agree it's still better than throwing your money away in rent. The best solution would be to pay your mortgage off as fast as possible to avoid paying high interest on your principal.
@donaldlyons17 9 ай бұрын
@@blackspiderman1887 Well yes but no the best seems like paying cash. If I understood you correctly: "you're not gaining appreciation. [on your house] Unless you pay cash." Also getting renters that can, will, and do pay thousands of dollars for housing is very difficult because everyone needs a place to live which means they want access ever if they are not able to afford the price!!
@blackspiderman1887 9 ай бұрын
@@donaldlyons17 Correct. Your house will be gaining appreciation but you're losing that appreciation in the interest you are paying on your loan. Either pay cash or have a huge down payment and pay off the house as soon as possible.
@Nolaman70 10 ай бұрын
Snowball works in real estate too. I will have a rental property paid off soon, things will move faster and faster allowing me to buy more quicker and quicker. Especially now that my home is now paid off. I have 3 units now, can't wait to get more.i have a 50k line of credit just sitting in the bank i can use for a down payment too. Paid 93k for my hpuse now it's worth 230k. Oh and I've been divorced for 23 years, stay single fellas....
@timcrawford7923 10 ай бұрын
So true I love Real estate and definitely stay single
@ChrisInvests 10 ай бұрын
Glad it's working out for you!
@kristianroberts5590 9 ай бұрын
This is great and much appreciated! Thank you sir!
@Financial-Education101 10 ай бұрын
Very informative video. Everyone should take care of their own finances, which includes learning and thinking, but that’s what our society seems to have forgotten.
@the.finance.formula 9 ай бұрын
I totally agree
@tyjameson7404 10 ай бұрын
Epic video and breakdown 🙏🙌🏾👏🏿🇺🇸👊🏽💪🏾❤️🇺🇦thank you!!
@susannnico 9 ай бұрын
The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.
@Trignama1 9 ай бұрын
The ONLY solid investment I have going on is my 401(k) which I am in the fortunate position to be maxing out currently, but I find it really difficult, especially right now, to invest beyond that. It's disappointing really, because it leaves me 0 option to retire early, as the penalties and fees for doing so through that plan are pretty damn severe......
@TheFirstRealChewy 10 ай бұрын
It's been well over a decade. I'm still waiting to see the snowball effect. There is progress, but the progress feels so slow.😮💨
@1timothydillon 10 ай бұрын
Life is all about perspective, read your sentence another way. It's only been a decade, and even though things are moving slow, there has been noticeable progress. On average, invests double every seven years, that's why it's important to start early, and add in as much as possible.
@ChrisInvests 10 ай бұрын
It's always realllllly slow to begin
@harryhankins1338 9 ай бұрын
It’s takes about 15 years in when the “wow” moment hits you with investing. Keep contributing each month your breakthrough is right at the door
@Norfolkpaul 10 ай бұрын
Nice video 😊
@ChrisInvests 10 ай бұрын
Thanks for watching!
@TheSRMproject 10 ай бұрын
Would saving 22k a year be considered pretty good if I’m just trying to retire with a decent income from it? Currently at 300k @ age 41.
@ordinaryhuman5645 10 ай бұрын
Depends on what a decent income is and how soon you want to retire. You can play with an investment returns calculator to see if it's sufficient for your goal.
@TheSRMproject 10 ай бұрын
@@ordinaryhuman5645 like 80k a year
@chemquests 10 ай бұрын
It depends entirely on the income you want in retirement. A generic guide is 20% of gross, so you should increase your savings rate to replace ~80% of current income. If you made ~100k, I’d say you’re on target.
@ChrisInvests 10 ай бұрын
Play around with a compound interest calculator
@ryanlemmers5300 10 ай бұрын
You will definitely a millionaire by 50 at that rate so long as you don’t take on any debt in the meantime
@MrPokemon248 2 ай бұрын
Max put 401k ($23,000) everything extra goes to savings and paying down debts.
@hi-re2wp 10 ай бұрын
I am 14 I am thinking about investing but don’t know how to can you help me
@caracal9458 10 ай бұрын
you have to wait till 18, or get parent or someone you trust to invest for you. Otherwise just try to build up savings for next 4 years
@UnknownTomorrow 10 ай бұрын
Now is a perfect time to test your ideas. If you are unable to invest try paper trading. Test what would happen if you invested in dividend stocks. See what happens if you invest in risky stocks. Learn what worked and what doesn't for building your money. Then you would have a headstart and better understanding than most over you can start investing. Best to not be too risky with real money though, learn what works first.
@ChrisInvests 10 ай бұрын
You need a custodial account. Don't blow your savings on dumb investments. Buy something proven.
@hunternelson4320 9 ай бұрын
Inflation has entered the chat
@patrickjames1159 10 ай бұрын
Whats the best way to invest 175k ?
@askmeificare5557 10 ай бұрын
That would depend on your age and your goals.
@KPad87 10 ай бұрын
Roth IRA or brokerage account .
@HughJass-jv2lt 10 ай бұрын
@@KPad87 Roth only allows 6k load-in
@lordabhikingfisher8087 10 ай бұрын
S&P 500 ETF like SPY. This medium is good for any amount. Grows 10 to 11% per year relatively low risk.
@Nolaman70 10 ай бұрын
Hookers and Cocaine
@taylorgreen5908 10 ай бұрын
some millennials fail to do one thing right which is INVEST. I made my first million from an asset allocation fund using a FA so i invested and re-invested my profits...i also acquired large amount of high-quality dividend-paying stocks too that gives me a solid base of passive income.ever grateful to Susan Kay Mack , two years now and she still surprises me
@gagnecaron658 10 ай бұрын
impressive! love the strategy
@robertthurmond8161 10 ай бұрын
I did read about Susan Kay Mack on the web., quite a great resume she has
@donaldlocher2537 10 ай бұрын
I am going to sit back and observe how this all plays out, adding more stocks a little at a time.
@harleycartley3138 10 ай бұрын
Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
@Sorutirei 9 ай бұрын
🎉🎉 to you for the success, miss. However, as also a millennial, I do sympathize to how my peers were all bunched and pressured by competition over and over in the public, so in the traditions to be a crowd pleaser and expecting for going somewhere, they threw themselves into such impulsive wasteful habits to catch up and hooking for absurd returns in some opportunities which turned out to be scammed or the market crashed. Some tragedies had taken place among my old classmates at any reunions, just because of the cruelty to keep up with the Joneses
@Spvcecowboy1 9 ай бұрын
The astroturfing for financial advisers in the comments section is getting out of hand. Literally have to scroll down twenty comments to get to real conversations.
@Sh4dow682 10 ай бұрын
Rich get richer the poorer get poorer..
@MrEnky007 10 ай бұрын
but what if market crash?
@Financial-Education101 10 ай бұрын
That's a good question
@nothingtoseehere1097 10 ай бұрын
Then you buy cheaper stocks. Good companies don’t cut dividends.
@Project-Masculinity 10 ай бұрын
When the market crashes, mutual funds are now ‘on sale’ so best time to buy….
@kurniawanms2 10 ай бұрын
if you do not need the money for the next 20 years, you want market to crash so you can buy them at a discount. Just DCA index fund ETF with low expense cost and you are good
@jji7667 10 ай бұрын
But what if it doesn’t?
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