Why the Poor Stay Poor and Middle Class Live Paycheck to Paycheck

Рет қаралды 500

Күн бұрын

Why is it so hard to stop being broke all the time. How to get out of poverty and stop living paycheck to paycheck. How to become rich.
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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. Topics discussed and opinions provided do not represent any current or past employers of Financial Freedom 101 staff and are given as personal opinions. 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: 12

@davidfolts5893 Ай бұрын

Excellent job! Learners are high earners.

@ELconomics101 Ай бұрын

💪💪💪

@fitzroyfrancis7896 Ай бұрын

Nice to find you. Just subscribe

@mp22422 Ай бұрын

Very valuable, thank you

@wsurfn Ай бұрын

Way to go. You are doing good work.

@financial_freedom101 Ай бұрын

Thank you.

@John-bq9bj Ай бұрын

Your channel is great man! No I am not a robot 😀. Keep up the good work. After watching a lot of financial literacy videos, a very educative conclusion I have come to is, saving is good but, investing is the real deal, and IT IS A MUST TO INVEST. Most people can not afford to save $500 a month for 40 years straight, considering economic changes such as recessions, which can lead to lay-offs and job cuts. There is nothing risky about investing, but how investing is done is what matters.

@financial_freedom101 Ай бұрын

Thank you for the comment. There are ups and downs throughout life as you mentioned. "Most people can not ..." I would instead ask "How can someone save $500/month?" Some options: maybe $250/month 401K and then $250 company match with pre tax contributions is closer to $200/month, cut cable at $100/month, make coffee at home $150/month, stop smoking 1 pack per day $300/month, get a roommate and split bills $1,000/month, reduce alcohol $60/month, reduce sugary drinks $25/month, reduce eating out $50-$800/month, grow a garden / food, learn to make minor car repairs $100/month, pick up extra hours at work or start a side business $?/month. It is important to evaluate what is important and what is not needed by each person. I do not have cable, I mow my own grass, I make repairs on my cars, and I drywalled, painted, plumbed, and installed lights and ceiling fans in my home, I do not smoke, I do not drink alcohol, I do not drink soda, but I go out to eat often to spend time with family.

@John-bq9bj Ай бұрын

@@financial_freedom101 Definitely a solid breakdown. I am glad I found your channel. Your channel might not have all the sexy thumbnail or fancy studio equipment (which I suggest you do get, down the line), but, the info you convey is very important.

@mohibquadri4053 Ай бұрын

Sir what are the top traits of high earning employees right from the start of their career - which qualities sets them apart from rest of the people who remain mediocre at workplace ?? How it all works..

@financial_freedom101 Ай бұрын

From all the research I have seen "Grit" is one of the largest determiners of success in life. This is simply referring to ones ability to not give up and overcome challenges combining passion and persistence. Book "Grit: The Power of Passion and Perseverance" by Angela Duckworth I have seen people that had everything given to them where they had money, looks, and ability and they end up broke over time because they gave up and did not follow through when times got tough. I have also seen people like myself that come from poverty, not the best schools, going to foodbanks, and divorced families to work hard, work smart, and not give up when difficulties arrived. There are a lot of challenges in life and if I gave up at any of them I would still be broke. Also, bad times tend to pop up all at the same time such as when my mom passed away while I also needed to buy, fix, and move a house and I got covid while still working and taking care of a family and driving hundreds of miles several times a week to see my mom.

@mohibquadri4053 Ай бұрын

@@financial_freedom101 Thanks a Ton !! 😊