I was at level 2 for a very long time, maybe 12 years, And the step up to level 3 believe it or not only took me about 4 months. He is right, Every time I would save up about $10,000, a big unexpected bill would come, a vet bill, or a car bill, etc. so after the dog went to heaven and I got myself a bicycle those unexpected expenses I’ve limited to never come again. Now up to about $70k savings and counting, I think I’m not far to level 4 however financial knowledge needs to come a long long way before acheiving level 4 and 5. And that’s why I’m watching this channel.
Good for you, and well said. Also why I'm here. I'd say me and my wife are at level 3 currently, and I'm about to take a new position that will get us very close to 4. Happy climbing!
I was at level 2 for a very long time, as I was disabled in a car accident and couldn't work for many years. I was able (just barely) to earn an MBA (from a good program) during this time, and so when I was finally able to try working again, my income quadrupled and I basically skipped Level 3 entirely and Level 4 was like two years.
I am personally somewhere between stage 3 and 4. Just 10 years ago, my wife and I had almost nothing in the bank, were swamped with debt and renting a single bedroom. We are now debt free (except for a mortgage), own a house that we are turning into a duplex for a rental (and already have a tenant) and more than 6 months of expenses in available cash. It is amazing how fast life can change for the better so long as you have a solid plan, spend frugally, and work hard to make your goals happen. Also, don't be afraid to take risks... so long as it isn't something stupid like "I am going to win the lottery!"
Goal directed and the side hustle. That's what we did, we are on stage 6 a great view it is. We still run a boarding business in the back yard, built on freinds.
I hover between stage 2 and stage 3, especially this last quarter. I recently started cash stuffing as a budgeting tool and it's made me feel motivated to save my money, making sure I'm secure and moving my family comfortably into stage 3.
As a working class Englishman of 37yrs at the time of this comment I can say that I was brought up with the mindset of "I'm no success but a damn good survivor". I actually consider myself lucky because it's the people right at the bottom level that will tend never to leave dependence. I'm certainly only a survivor, in debt on a low income but I still feel abundant because I'm mostly in good health and I'm working on my career to increase income and will live as frugally as possible moving forwards. Being organised really helps with staying focused. Us survivors CAN make it....
The fact that you're acknowledging your situation is the first step. It took me until 44 when I was in a crappy job to finally work that out and come up with a plan. 10 years later and a complete mindset shift and we're 2/3rd's of the way to financial independence.
i think its pretty obvious that "within reason" applies to it. What, wanna be a 7th dimensional object and complain that it wasnt on the scale of anything you wanted to do?
I was level 2 since 2011 till the pandemic. That was my owe moment. Started to track my expenses, budgeting, using a motorcycle instead of my car, cheaper apartment, changed jobs and moved to level 4. I'd been working for ten years and didn't have savings or financial stability. Yes, I enjoyed my money. But now I'm so much more satisfied with my life though I don't have so many fancy things.
I'm almost 25 and am level 3 moving to level 4. It helps to be a financial advisor and have a degree in finance as many of my habits I instilled in my late teen years. My biggest struggle now is being a young professional and not getting caught up in consumerism. I'm trying hard to practice minimalism and live below my means... Convincing my partner to do the same has also been an interesting task :)
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..
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, I am able to build a suitable life because I invested early ahead this time .
Finding financial advisors like “Sonya Lee Mitchell” 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.
I just googled her 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 caII.
This breakdown of the 7 levels of wealth is spot on. As a young adult, I'm focused on building stability and independence. It's crucial to set tangible goals for each stage and work consistently toward them. The earlier I start, the better!
I am impressed with your update on tech stocks, I am looking for tax efficient way to rebalance my 7-figure dividend portfolio without triggering capital gain tax. what asset location strategies should i use?
The best strategy depends on your financial situation, account types, tax bracket, and investment goals. Consult an advisor or tax professional to tailor these strategies for maximum tax efficiency.
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% NVDA, 25% SCHD and over 40% in digital and alternative assets, thanks to my CFA. This strategy has helped me earn $56,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
Financially free 34/yr. Retired pharmacist. Still have 3 cheap mortgages (2.7-3.8%) and have 4 cash flowing properties between 3-5k/mo/property. I can’t go buy a Lambo….but i don’t have to work and that’s all I care about! Good luck to you all
You have just convinced me to restart my investment portfolio by reallocating funds to a savings portfolio. I have been too far too risky with my cash in this bear market, and you have made me more aware of how important it is to have reserve cash in my worst case scenario. I will continue to push towards rebuilding my investment portfolio because of your advice. Thank you for providing a new perspective for me to help me move forward in my investing journey, please continue providing valuable information for others who may have followed the same path as i have followed. Thank you so much, my family will greatly appreciate your generosity.
Technically at 5 but still working to get to the 6 level for retirement. Each year less debt and more savings. Reckon tipping point is about 4 years away….and I can’t wait!
22 years old and I am somwhere between Step 3 and 4 if I interpreted them correctly. Savings rate of between 40-50%. I don't make a whole lot of money, only around 35-40k per year, but I do save a whole lot of it. Currently a renter with a roommate, which definitely helps my savings rate. Maxing out my Roth IRA every year for this year and the previous 2 (opened in 2021), and putting a bit in a taxable as well. Only things I don't pay for is life insurance and health insurance (dad has a policy for me until 25), a car (I work from home, so no need for an auto loan, car insurance or gas expenses, I Uber where I need to go). Hoping to reach FIRE quickly :)
No you are wrong. If you dont own a house you are NOT Independent. People get it wrong all the time. Imagine you lose your job/get health issues. Now all of the sudden you become this person that have to live on his car that we can see in documentaries.
Success is determined by the activities or actions you take to achieve it. Wealth accumulation requires the development of good habits, such as regularly setting away funds for dependable investments at regular intervals. Since most people avoid talking about money management, which will ultimately come back to haunt them, I hope that everyone who reads this will succeed in life.
Investing remains a primary concern, and the best way to advance and increase wealth is to start early. My experience from the previous year taught me that I could establish a respectable standard of living by investing early this time.
I believe that frenzy will result from excessive inflation unless the Fed tightens its regulations much further. Seek the advice of a financial advisor with fiduciary responsibilities who is knowledgeable in mortgage-backed securities if you are at a crossroads or need honest advice on the best course of action to take right now with the financial markets.
We are close to Stability, the only thing is saving for that 3-6 month emergency fund. Though I've noticed the only interest we have to pay is on the Mortgage and One of our Cars, otherwise we are basically debt free. Keep up the great tips!
Thank you for this video. I’m in my 30’s and just learning about how to properly handle my finances, and this has given me a lot of perspective. Thank you thank you! Subscribed :)
I’m in step 3 hoping to move to step four faster as I’m in my early 20s. The only way I can think of doing that is not buying fancy cars again, and saving more money, managing my money, and selling my car, as well as starting my retirement fund. Also I will increase my salary so whether I’m renting or saving for a house I don’t have to worry about reaching my goals.
I am 38 and kind of stayed stuck in 2 for too long because of financial illiteracy and bad habits. I have started to pull myself out of number 2 and I'm heading toward the third level of security. I'm able to do that fairly quickly because my income is nearly triple the typical male income for my region.
I am in Independence stage. I have no more debts (car, house and credit cards paid off). I live a humble and frugal life ($25,000 a year) since I am single. I am retired from my 9 to 5 Engineering job. I am a caregiver now for both my parents (part-time) to keep me busy.
I just have enough tucked away last month to pay off my home. Car is paid off and I owe nothing to anyone. The “lightness” I feel omg omggggg immeasurable. No one tells you about that feeling. I could quit tomorrow and be completely ok!
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Somewhere between 3 and 4. Live below my means, and focusing on paying off remainder of mortgage. Don't make much, still decent, but live in a low cost of living area. Do whatever I want until I am fully within 4 with plans of going higher.
I have only made between 5 000 and just before I retired 11000 a year for my entire life. I have a small house that has been paid for 40 years. I have about $40000 invested. And I have about 13000 liquid assets. I now make about 8400 from social security but I continue to work part-time and I'm still saving money. The secret to being financially secure is not about how much you make but how much you spend!!! I am 69 now and feel quite financially secure. Thanks for your videos ,I enjoy listening. And also I learn a few things too, thank you.
In theory, I'm at level 01 because I survive on disability benefits but in practice, I'm at 02. I feel I do better than some despite living in poverty because I have good money habits. I'm confident I could be quickly successful at level 03 if I find a way to boost my income, even modestly.
Stage 8 is the _your money is no good here_ stage. People are giving you free, top quality stuff and hope you will accept their swag and attend their parties.
In level 3, working on getting to level 4. I have a higher net worth than both of my parents and their spouses combined and there ain't no stopping this gravy train.
38 year old here, level 4 with a 880k net worth with $220k of that in home equity. Currently have a 50/50 mix of taxable/roth ira/401k and rapidly making use of my company’s mega backdoor roth option by contributing to the 415 limit of $69k. My strategy to getting to level 5 is maximizing on tax advantaged accounts through the mega back door Roth option for as long as possible. Then do a 2-3 etf fund and ride it out! My calculations say I am 4-5 years away from that given my savings rate and my steady returns so far! Love this channel btw- most things I know but hearing it over and over has helped me make smarter decisions. The other day I was close to picking up my first Rolex and watched a video where Humphrey talked about the buy it twice rule. Suffice to say- I ended up picking up an Oris watch instead.
The actions or steps you do to attain success determine its outcome. Developing sound habits, such as consistently setting aside money for reliable investments at regular periods, is essential to accumulating wealth. I hope that everybody who reads this will have success in life because financial management is an important subject that most people avoid and that will eventually come back to haunt them.
Investing is still a top priority, and starting early is really the greatest approach to get ahead and grow money. I learnt from my experience last year that by investing early this time, I was able to create a decent living.
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
For the stage 4-5 and even low 6, you might decide to keep working for a few reasons. As you point out it is fairly optional, but health insurance isn't cheap, particularly in the US and above 40. There are also often other benefits that multiply your savings since you don't have to replace all of that plus your income and other benefits/bonuses. The good news though is you don't really fear losing your job. Another reason you might stick around is the tax incentive. If you are nearly 50 and thinking of sticking around 5 years is ok, the rule of 55 on your 401k will save you quite a bit (no 10% WD penalty, access to tax-free Roth 401k money). If you don't want to do all that, looking into other (cheaper) countries for early retirement might also be worth considering, as many include good health care when you are a resident.
30 years old, bills payed off, car payed off, could pay off mortgage but have the money invested instead, I seem to be in level 4. I'm not drawing a single dollar from my investments, I'd rather live off my job and let my portfolio grow while I'm young. Trying to get to level 5 at a decent age, to enjoy my life
@@TheRealTommyBear33 It makes sense to some people. I get it, I was there. You just want to do the grind and get it over with, get yourself to financial independence ASAP and start living. Some people would rather just do all the work in one large chunk, rather than in pieces.
@sportbikeguy9875 You're doing awesome. I only wish I was where you were at 30. One tip for the future: Start slowly thinking about how you will protect your money as you approach level 5. Making the money is easy - it's the keeping the money that's hard. At one point you might realise that inflation is a little higher than reported CPI, that rental properties actually decline in value as they age (not to be confused with price growth - that's just inflation), gold/silver are not that safe once you study history and observe the future, and taxes taxes taxes... ever increasing and harder to escape. And people around you look in your direction when they need to borrow. You might come to the conclusion that level 5 is attainable, but at far higher capitals levels than what FIRE folks rave about. That said, it's definitely doable. Just much harder than touted to be . 48yo here, level 5 (retired early) for about 2 years now - and even though Excel says otherwise - I still worry about money lasting enough. As history teaches, no wealth is safe from wars and politicians.
Do you still worry about money? I am also level 4 but I think I am doing it wrong bc I still worry about money. I think I worry about it more than when I was in the early levels.
We've gone from level 2 to level 4.5 in 10 years. We'll get to level 5 in the next 3 to 5 years in New Zealand. Not going to pretend it has been easy, but it has definitely been worth the sacrifice.
This was an encouraging one because it speaks more to mindset than to numbers. 31 and living in my car for the last 4 years, I can genuinely say I've achieved financial security. Every paycheck I put away 1000-1500 or more into savings and investments. And with minimal expenses, my emergency fund could cover easily 2 years of this lifestyle. My plan is to keep doing this until I have enough money to pay for food and housing for the rest of my life from dividends. I'm a social worker and by that point I should be ready to start a private practice. Then it will be a matter of deciding how many hours I want to work while I pursue other intereting goals. I've always been more interested in learning, connecting, growing, and helping than in paying for flashy experiences. If I have my health, peace of mind and a community, that's more abundance than I could ever ask for.
@@dawnkoplitz1825 lol yes I'm a bit unconventional. I moved into a van in 2019 to prepare for the required unpaid internships. I was working 30+ hours unpaid, but because I didn't have rent to pay I was able to put aside money, and not have to worry even during COVID (even when the gyms were closed and I had to shower outside with a gallon of water in the woods or take a "bird bath" in a public restroom sink--never once went a day without a shower). My van got totaled (I wasn't injured) so I bought a Corolla and moved into the back. At 5'5" and with few belongings and a little clever engineering (read: lots of pillows) it's actually quite comfortable, as long as my fans are charged. Then when I graduated I figured I would keep applying these skills to achieve a truly solid financial position before paying for housing. Content like this helps me navigate the available options for investing.
@@developingkindness3970 I don’t know mate. I’m also living in a dorm by choice even if I could easily get my own apartment. But living in a car would be too much of a sacrifice. I mean life is short and we shouldn’t sacrifice too much of quality of life for our goal 🤔
Im 30 and I'd be stage 3 since I don't own a house yet. Car is paid off, student loans being paid off this year. Focusing on in increasing my literacy and furthering my career. Haven't really worried about bills in awhile. I'm probably overpaying on insurance
It is always good to have a financial plan. I work with a portfolio manager and fixed income planner in the USA. The fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff 3 years ago amidst covid outbreak. I needed to stay afloat, hence researched for licensed fiduciary advisors. Thankfully, I came across someone of practical knowledge and decades of experience. I liquidated 200k of my 340k from my 401(k) it has yielded nearly 1M usd after subsequent investments so far.
His strategy is recession proof, more specifically profit-oriented and most likely you’ll find his basic information on the net. He’s a very well known advisor.
Asides the fact that I’ve been personally inclined with Chris Ryan Stewart. His platform is seriously making waves in the market. Even on CNBC and BBC Finance. He is a genius.
I have turned over more than half a million working with Mr. Chris Ryan Stewart on a very wide array of options and finally sticking to a few that have been favorable in the past 2 years.
Had a business. Lost it during covid but made enough to buy a 524k home all cash. Now I just do side jobs like Doordash and Uber Eats everyday with a savings of 30k and another 30k in investments. Which level would i be in? For certain reasons i am unable to get a good paying job
I’m 22, approaching the near end of step 2, I’ll be graduating undergrad next year in December and thankfully I only have 2 credit cards (just got a cc that required an excellent credit score range) but all paid off as I don’t spend much at all, no car payments, $1000 retirement fund, $1000 EMS fund, only a student loan that I can immediately pay if I get a full time job, no health insurance. If the Lord blesses me with a full time job, within 3-4 months no more student debt and since I will seek the most frugal lifestyle, I’m hopeful that once I make it to a year of working, I’ll be at stage 3 :))
Technically I’ve never gone beyond dependence on my parents because they’ve always paid my cellphone, but discarding that I’ve been to stability for a few months. Then i got into a car wreck and my job fired me because I had to be on disability for too long and lost everything. Slowly rebuilding to that level, but it’s tough as the rent to average wage ratio has gotten way out of hand in most cities. Looking to leave my current city for a much cheaper one soon, but even that has its own challenges (like selling many things i own and spending all my savings for a move to a place i don’t have work yet hoping to find work).
I'm between Independence and Freedom. It's a good place to be. I travel a lot especially in Winter, but I don't need to fly on jets. I'm staying on the low side.
28 y/o at level 4 - life is great and we’re just getting started. It’s all about who you know, I definitely couldn’t have got to this point without knowing the right people. Currently working to achieve level 5
I am 37, working in IT industry with 6 figure salary. Reached level 4 a couple of years ago, but currently at level 2.5 as most of my financial assets (diversified ETF portfolio on the stock market) was blocked last year and I was forced to go to immigration to another country with a small emergency fund. Now I am slowly moving back to level 3 by maxing up my emergency fund and planning the steps for the next couple of years in my life - getting residency in the first world country, moving and settling on the new place and starting investment into the stock market using stable financial infrastructure and widely diversified ETFs. Not sure if I would be able to reach level 5 whenever, but 4+ in 10-15 years looks realistic.
I’m 37 yo and I would say I’m at level 3-4. I do have more than 3-6 months of security for emergencies like paying the mortgage. Started a RE business as a side hustle to hopefully get to step 5.
I moved out from my parents around 2 months ago, still studying, and i feel quite better after watching this video. I was thinking all the time about how bad my sitauation was etc etc but i figure im easily standing in 2nd level slowly moving into 3rd. Im not going to slow down, but i feel a lot calmer right now. Just thinking about how much time i still have and that im basically just at the very beginning. Thanks for this video
32 years old and lvl 2, working towards the lvl 3. I really feel I need to be in the lvl 3 category as that will give me way more ease of mind in a world full of vaxxxes and economic pressure. If only I had a tutor 8 years ago, but I really started working myself up 3 years ago. Still on my way, but it’s looking much better than where I started.
Im 30yo, 3 small kids, wife, quite low mortgage, one house, a new car every 2 years. We save whole one monthly income from my wife. Im midlle class worker (steel engineer) with many side jobs for another companies. i think im beetwen level 2-3. And Hope i Will reach the next level in 5 years. Thanks for good explain of levels of wealth.
I am doing better than I thought to be honest. I'm middle class or level 4,but I live well within my means and have hobbies and interests that doesn't cost me loads of money. Own your house have a few hundred in investments and a stable enjoyable job. Don't buy stuff to impress ppl you don't know or care about.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Living in So-Cal it's hard, but at age 56 I'm well into security, and trying to get to that independence. Shooting for by age 60, it's a tough haul. High household income in USA is "middle class, you're doing okay" in So-Cal. Enjoying the grind, always have since age 17.
I am level 1, 3, & 4 all at once. I'm a disabled vet living under my sister's roof which ironically i helped her buy it. I skipped level 2 because without rent or utility bills, 60% of my paycheck just piles up in my bank account waiting to be invested. I have an emergency fund and my brokerage account is sitting at $250k. More than enough to make me a millionaire without having to add anymore. My situation is very abnormal because i'll have to go back to work to get a place of my own when i'm already financially secure.
Excellent video, Humphrey! I was wondering if you had any data or studies that show which levels of wealth provide people with the happiest and/or most fulfilled lives. At least for me, that would make it easier to decide where I want to aim.
As close to financially secure at 25 with a child that I can be! Own 2 duplexes and live in one of the units, once we move into our single family we are bound to take a slight step back
This really inspired me that I can take on a duplex, thank you! Is managing it hard? Do you pay another company to do that and do maintenance? Thanks for your help❤
@@Cloudyconfusion I manage them myself, its very easy until everything is going wrong all at once🤣 its best to buy a duplex and live in one side and get the house updated and functional
36 years old. Paid house off at 31. Wish I invested hard after but took a break. Now at 36 I’m going hard at Roth IRA / 457b / and pension (total 33%) into retirement. Eventually will open brokerage
Between 2 and 3 only because i don't have 3-6 months saved up yet, but I have everything else! At 36 I started over career wise but going for that FIRE (but it's Financial Independence, Recreational Employment).
31 years old and we’re at level 4. Within the next year we should have enough money in non-retirement investments to cash off our mortgage if the need should arise. I’m very much looking forward to that milestone.
Move up a stage by subscribing to the free🐪 Hump Days Newsletter ➭ humpdays.substack.com
I would love to apply
I was at level 2 for a very long time, maybe 12 years, And the step up to level 3 believe it or not only took me about 4 months. He is right, Every time I would save up about $10,000, a big unexpected bill would come, a vet bill, or a car bill, etc. so after the dog went to heaven and I got myself a bicycle those unexpected expenses I’ve limited to never come again. Now up to about $70k savings and counting, I think I’m not far to level 4 however financial knowledge needs to come a long long way before acheiving level 4 and 5. And that’s why I’m watching this channel.
Good for you, and well said. Also why I'm here. I'd say me and my wife are at level 3 currently, and I'm about to take a new position that will get us very close to 4. Happy climbing!
I was at level 2 for a very long time, as I was disabled in a car accident and couldn't work for many years. I was able (just barely) to earn an MBA (from a good program) during this time, and so when I was finally able to try working again, my income quadrupled and I basically skipped Level 3 entirely and Level 4 was like two years.
Every time my kids ask for a dog, I read a comment like this.
???
I am personally somewhere between stage 3 and 4. Just 10 years ago, my wife and I had almost nothing in the bank, were swamped with debt and renting a single bedroom. We are now debt free (except for a mortgage), own a house that we are turning into a duplex for a rental (and already have a tenant) and more than 6 months of expenses in available cash. It is amazing how fast life can change for the better so long as you have a solid plan, spend frugally, and work hard to make your goals happen. Also, don't be afraid to take risks... so long as it isn't something stupid like "I am going to win the lottery!"
Congratulations, thats a huge step up 🎉
We are now debt free (except for a mortgage)
Goal directed and the side hustle. That's what we did, we are on stage 6 a great view it is. We still run a boarding business in the back yard, built on freinds.
Work smart not hard
I hover between stage 2 and stage 3, especially this last quarter. I recently started cash stuffing as a budgeting tool and it's made me feel motivated to save my money, making sure I'm secure and moving my family comfortably into stage 3.
At Level 8 you get a free shirt!
And you get a free 30 day trial to Lyft Pink.
Just wait for level... 69
@@humphrey Is that the level where they give you a free guest for the Centurion Lounge?
@@humphreylol
People give shit away to those at the top and charge for more those at the bottom. It’s all upside down
As a working class Englishman of 37yrs at the time of this comment I can say that I was brought up with the mindset of "I'm no success but a damn good survivor". I actually consider myself lucky because it's the people right at the bottom level that will tend never to leave dependence. I'm certainly only a survivor, in debt on a low income but I still feel abundant because I'm mostly in good health and I'm working on my career to increase income and will live as frugally as possible moving forwards. Being organised really helps with staying focused. Us survivors CAN make it....
The fact that you're acknowledging your situation is the first step. It took me until 44 when I was in a crappy job to finally work that out and come up with a plan. 10 years later and a complete mindset shift and we're 2/3rd's of the way to financial independence.
6 is essentially the last stage under these rules if you can, ‘do anything you want’. That’s all encompassing.
i think its pretty obvious that "within reason" applies to it. What, wanna be a 7th dimensional object and complain that it wasnt on the scale of anything you wanted to do?
I was level 2 since 2011 till the pandemic. That was my owe moment. Started to track my expenses, budgeting, using a motorcycle instead of my car, cheaper apartment, changed jobs and moved to level 4. I'd been working for ten years and didn't have savings or financial stability. Yes, I enjoyed my money. But now I'm so much more satisfied with my life though I don't have so many fancy things.
I'm almost 25 and am level 3 moving to level 4. It helps to be a financial advisor and have a degree in finance as many of my habits I instilled in my late teen years. My biggest struggle now is being a young professional and not getting caught up in consumerism. I'm trying hard to practice minimalism and live below my means... Convincing my partner to do the same has also been an interesting task :)
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..
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, I am able to build a suitable life because I invested early ahead this time .
Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
What steps can I take to engage in this opportunity? I genuinely aim to secure my financial future and am enthusiastic about taking part.
Finding financial advisors like “Sonya Lee Mitchell” 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.
I just googled her 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 caII.
This breakdown of the 7 levels of wealth is spot on. As a young adult, I'm focused on building stability and independence. It's crucial to set tangible goals for each stage and work consistently toward them. The earlier I start, the better!
I am impressed with your update on tech stocks, I am looking for tax efficient way to rebalance my 7-figure dividend portfolio without triggering capital gain tax. what asset location strategies should i use?
The best strategy depends on your financial situation, account types, tax bracket, and investment goals. Consult an advisor or tax professional to tailor these strategies for maximum tax efficiency.
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% NVDA, 25% SCHD and over 40% in digital and alternative assets, thanks to my CFA. This strategy has helped me earn $56,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
Oh I've heard similar things about hiring an advisor. It's hard to choose one that's very good though. Could you make some useful recommendations?
Wow!! her track record looks really good from what I found online.i just filled the form and scheduled for a call. Thanks to you.
I’m 26 at level 3 and looking for improving more. Thanks for all the content!
Greeting from Los Cabos, México 🤗
Nice! and i gotta make it to Mexico!
Same as you here, keep it up :)
Best of Luck Andrea!
Level 2 at 24, made bad decisions now taking these tip videos to stabilize myself and pay back my debt
Financially free 34/yr. Retired pharmacist. Still have 3 cheap mortgages (2.7-3.8%) and have 4 cash flowing properties between 3-5k/mo/property. I can’t go buy a Lambo….but i don’t have to work and that’s all I care about! Good luck to you all
Your username is hilarious
You have just convinced me to restart my investment portfolio by reallocating funds to a savings portfolio. I have been too far too risky with my cash in this bear market, and you have made me more aware of how important it is to have reserve cash in my worst case scenario. I will continue to push towards rebuilding my investment portfolio because of your advice. Thank you for providing a new perspective for me to help me move forward in my investing journey, please continue providing valuable information for others who may have followed the same path as i have followed. Thank you so much, my family will greatly appreciate your generosity.
Technically at 5 but still working to get to the 6 level for retirement. Each year less debt and more savings. Reckon tipping point is about 4 years away….and I can’t wait!
I'm in level 4 and my partner is in level 5.
22 years old and I am somwhere between Step 3 and 4 if I interpreted them correctly. Savings rate of between 40-50%. I don't make a whole lot of money, only around 35-40k per year, but I do save a whole lot of it. Currently a renter with a roommate, which definitely helps my savings rate.
Maxing out my Roth IRA every year for this year and the previous 2 (opened in 2021), and putting a bit in a taxable as well.
Only things I don't pay for is life insurance and health insurance (dad has a policy for me until 25), a car (I work from home, so no need for an auto loan, car insurance or gas expenses, I Uber where I need to go).
Hoping to reach FIRE quickly :)
Great story!
Good for you!
You’re killing it!
No you are wrong. If you dont own a house you are NOT Independent. People get it wrong all the time. Imagine you lose your job/get health issues. Now all of the sudden you become this person that have to live on his car that we can see in documentaries.
@@HasterBlaster That is a stupid point 🤦🏼 If you are responsible for your own bills, then you are independent.
Success is determined by the activities or actions you take to achieve it. Wealth accumulation requires the development of good habits, such as regularly setting away funds for dependable investments at regular intervals. Since most people avoid talking about money management, which will ultimately come back to haunt them, I hope that everyone who reads this will succeed in life.
Investing remains a primary concern, and the best way to advance and increase wealth is to start early. My experience from the previous year taught me that I could establish a respectable standard of living by investing early this time.
I believe that frenzy will result from excessive inflation unless the Fed tightens its regulations much further. Seek the advice of a financial advisor with fiduciary responsibilities who is knowledgeable in mortgage-backed securities if you are at a crossroads or need honest advice on the best course of action to take right now with the financial markets.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Her name is Annette Marie Holt can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
We are close to Stability, the only thing is saving for that 3-6 month emergency fund. Though I've noticed the only interest we have to pay is on the Mortgage and One of our Cars, otherwise we are basically debt free. Keep up the great tips!
37 - level 4 approaching 5. Good video! Thanks.
From #1 - #4 in 7 years. It can happen, hard work, dedication to your financial goal, and financial literacy/learning.
Thanks for the vids
Thank you for this video. I’m in my 30’s and just learning about how to properly handle my finances, and this has given me a lot of perspective. Thank you thank you! Subscribed :)
I’m in step 3 hoping to move to step four faster as I’m in my early 20s. The only way I can think of doing that is not buying fancy cars again, and saving more money, managing my money, and selling my car, as well as starting my retirement fund. Also I will increase my salary so whether I’m renting or saving for a house I don’t have to worry about reaching my goals.
I just felt motivated and inspired after watching this video. Thank you.
I am 38 and kind of stayed stuck in 2 for too long because of financial illiteracy and bad habits. I have started to pull myself out of number 2 and I'm heading toward the third level of security. I'm able to do that fairly quickly because my income is nearly triple the typical male income for my region.
I am in Independence stage. I have no more debts (car, house and credit cards paid off). I live a humble and frugal life ($25,000 a year) since I am single. I am retired from my 9 to 5 Engineering job. I am a caregiver now for both my parents (part-time) to keep me busy.
nice!!!
Currently, stuck in level 2 and it feels hopeless. But I know there is a light at the end of the tunnel.
Always a light, keep going!
I’m with this 35 yr old. Stuck at a low 2 so my life
I just have enough tucked away last month to pay off my home. Car is paid off and I owe nothing to anyone. The “lightness” I feel omg omggggg immeasurable. No one tells you about that feeling. I could quit tomorrow and be completely ok!
😮
At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Uncertainty... it took me 5 years to stop trying to predict what’s about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Somewhere between 3 and 4.
Live below my means, and focusing on paying off remainder of mortgage. Don't make much, still decent, but live in a low cost of living area. Do whatever I want until I am fully within 4 with plans of going higher.
I have only made between 5 000 and just before I retired 11000 a year for my entire life. I have a small house that has been paid for 40 years. I have about $40000 invested. And I have about 13000 liquid assets. I now make about 8400 from social security but I continue to work part-time and I'm still saving money. The secret to being financially secure is not about how much you make but how much you spend!!! I am 69 now and feel quite financially secure. Thanks for your videos ,I enjoy listening. And also I learn a few things too, thank you.
This is insanely impressive, great job! You’re leagues beyond where my parents are who are your age
In theory, I'm at level 01 because I survive on disability benefits but in practice, I'm at 02. I feel I do better than some despite living in poverty because I have good money habits. I'm confident I could be quickly successful at level 03 if I find a way to boost my income, even modestly.
Stage 8 is the _your money is no good here_ stage. People are giving you free, top quality stuff and hope you will accept their swag and attend their parties.
Great video. I just entered level 6 and I'm satisfied. Life is good.
In level 3, working on getting to level 4. I have a higher net worth than both of my parents and their spouses combined and there ain't no stopping this gravy train.
38 year old here, level 4 with a 880k net worth with $220k of that in home equity. Currently have a 50/50 mix of taxable/roth ira/401k and rapidly making use of my company’s mega backdoor roth option by contributing to the 415 limit of $69k. My strategy to getting to level 5 is maximizing on tax advantaged accounts through the mega back door Roth option for as long as possible. Then do a 2-3 etf fund and ride it out! My calculations say I am 4-5 years away from that given my savings rate and my steady returns so far! Love this channel btw- most things I know but hearing it over and over has helped me make smarter decisions. The other day I was close to picking up my first Rolex and watched a video where Humphrey talked about the buy it twice rule. Suffice to say- I ended up picking up an Oris watch instead.
The actions or steps you do to attain success determine its outcome. Developing sound habits, such as consistently setting aside money for reliable investments at regular periods, is essential to accumulating wealth. I hope that everybody who reads this will have success in life because financial management is an important subject that most people avoid and that will eventually come back to haunt them.
Investing is still a top priority, and starting early is really the greatest approach to get ahead and grow money. I learnt from my experience last year that by investing early this time, I was able to create a decent living.
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
For the stage 4-5 and even low 6, you might decide to keep working for a few reasons. As you point out it is fairly optional, but health insurance isn't cheap, particularly in the US and above 40. There are also often other benefits that multiply your savings since you don't have to replace all of that plus your income and other benefits/bonuses. The good news though is you don't really fear losing your job. Another reason you might stick around is the tax incentive. If you are nearly 50 and thinking of sticking around 5 years is ok, the rule of 55 on your 401k will save you quite a bit (no 10% WD penalty, access to tax-free Roth 401k money). If you don't want to do all that, looking into other (cheaper) countries for early retirement might also be worth considering, as many include good health care when you are a resident.
Love this practical educational content! In my security phase and moving steadily toward independence.
nice!
Currently at stage 3. Great video explaining the conditions of the stages regardless of the individual’s environment.
33 and I feel like I am at level 4. Feeling good about that. Just paid off all my student loans too
30 years old, bills payed off, car payed off, could pay off mortgage but have the money invested instead, I seem to be in level 4. I'm not drawing a single dollar from my investments, I'd rather live off my job and let my portfolio grow while I'm young. Trying to get to level 5 at a decent age, to enjoy my life
why cant you enjoy life while you have a job? this makes no sense. enjoy life your whole life not only when your old lol
Paid*. Payed is a nautical term
Very good
@@TheRealTommyBear33 It makes sense to some people. I get it, I was there. You just want to do the grind and get it over with, get yourself to financial independence ASAP and start living. Some people would rather just do all the work in one large chunk, rather than in pieces.
@sportbikeguy9875 You're doing awesome. I only wish I was where you were at 30. One tip for the future: Start slowly thinking about how you will protect your money as you approach level 5. Making the money is easy - it's the keeping the money that's hard. At one point you might realise that inflation is a little higher than reported CPI, that rental properties actually decline in value as they age (not to be confused with price growth - that's just inflation), gold/silver are not that safe once you study history and observe the future, and taxes taxes taxes... ever increasing and harder to escape. And people around you look in your direction when they need to borrow. You might come to the conclusion that level 5 is attainable, but at far higher capitals levels than what FIRE folks rave about. That said, it's definitely doable. Just much harder than touted to be . 48yo here, level 5 (retired early) for about 2 years now - and even though Excel says otherwise - I still worry about money lasting enough. As history teaches, no wealth is safe from wars and politicians.
Level 4 and working towards 5 - concentrating on escaping the rat race 😊 thanks Sue
Do you still worry about money? I am also level 4 but I think I am doing it wrong bc I still worry about money. I think I worry about it more than when I was in the early levels.
At Level 10 you start building self-landing rocket boosters and devise plans to move to Mars.
Another excellent video Humphrey!!
Thank you very much. I really enjoy
Watching your video!!
Hey Hump...u are abundant! Great inspiring videos for even older people.
We've gone from level 2 to level 4.5 in 10 years. We'll get to level 5 in the next 3 to 5 years in New Zealand. Not going to pretend it has been easy, but it has definitely been worth the sacrifice.
I hope everyone who sees this reaches level 6+.
At least 5+!
that's too much , I'd see reaching lvl 4 is good enough
You too!
Level 4..hoping to move to 5 by ending of next year...maybe? 🤞🏽
Level 3 with 3 months of expenses saved and around $30k across my brokerages accounts. No debt. Car paid off
Nice job! You're on the right path :)
This was an encouraging one because it speaks more to mindset than to numbers. 31 and living in my car for the last 4 years, I can genuinely say I've achieved financial security. Every paycheck I put away 1000-1500 or more into savings and investments. And with minimal expenses, my emergency fund could cover easily 2 years of this lifestyle. My plan is to keep doing this until I have enough money to pay for food and housing for the rest of my life from dividends. I'm a social worker and by that point I should be ready to start a private practice. Then it will be a matter of deciding how many hours I want to work while I pursue other intereting goals. I've always been more interested in learning, connecting, growing, and helping than in paying for flashy experiences. If I have my health, peace of mind and a community, that's more abundance than I could ever ask for.
You’re a social worker and you’re living in your car???
@@dawnkoplitz1825 lol yes I'm a bit unconventional. I moved into a van in 2019 to prepare for the required unpaid internships. I was working 30+ hours unpaid, but because I didn't have rent to pay I was able to put aside money, and not have to worry even during COVID (even when the gyms were closed and I had to shower outside with a gallon of water in the woods or take a "bird bath" in a public restroom sink--never once went a day without a shower). My van got totaled (I wasn't injured) so I bought a Corolla and moved into the back. At 5'5" and with few belongings and a little clever engineering (read: lots of pillows) it's actually quite comfortable, as long as my fans are charged. Then when I graduated I figured I would keep applying these skills to achieve a truly solid financial position before paying for housing. Content like this helps me navigate the available options for investing.
Are you living in your car by choice or because external reasons?
@@CalculonTV By choice! It's a lifestyle sacrifice as a financial strategy.
@@developingkindness3970 I don’t know mate. I’m also living in a dorm by choice even if I could easily get my own apartment. But living in a car would be too much of a sacrifice. I mean life is short and we shouldn’t sacrifice too much of quality of life for our goal 🤔
Im 30 and I'd be stage 3 since I don't own a house yet. Car is paid off, student loans being paid off this year. Focusing on in increasing my literacy and furthering my career. Haven't really worried about bills in awhile. I'm probably overpaying on insurance
This is making me feel better. I’m saving 23%, maxed out ira, this year.
It is always good to have a financial plan. I work with a portfolio manager and fixed income planner in the USA. The fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff 3 years ago amidst covid outbreak. I needed to stay afloat, hence researched for licensed fiduciary advisors. Thankfully, I came across someone of practical knowledge and decades of experience. I liquidated 200k of my 340k from my 401(k) it has yielded nearly 1M usd after subsequent investments so far.
I’ve shuffled through a few experts in the past but settled with Mr. CHRIS RYAN STEWART.
His strategy is recession proof, more specifically profit-oriented and most likely you’ll find his basic information on the net. He’s a very well known advisor.
Asides the fact that I’ve been personally inclined with Chris Ryan Stewart. His platform is seriously making waves in the market. Even on CNBC and BBC Finance. He is a genius.
I have turned over more than half a million working with Mr. Chris Ryan Stewart on a very wide array of options and finally sticking to a few that have been favorable in the past 2 years.
Had a business. Lost it during covid but made enough to buy a 524k home all cash. Now I just do side jobs like Doordash and Uber Eats everyday with a savings of 30k and another 30k in investments. Which level would i be in? For certain reasons i am unable to get a good paying job
If you are not renting the home out I would say level 2
I’m 22, approaching the near end of step 2, I’ll be graduating undergrad next year in December and thankfully I only have 2 credit cards (just got a cc that required an excellent credit score range) but all paid off as I don’t spend much at all, no car payments, $1000 retirement fund, $1000 EMS fund, only a student loan that I can immediately pay if I get a full time job, no health insurance. If the Lord blesses me with a full time job, within 3-4 months no more student debt and since I will seek the most frugal lifestyle, I’m hopeful that once I make it to a year of working, I’ll be at stage 3 :))
I’m so glad I found your channel! 🙏🏼
Technically I’ve never gone beyond dependence on my parents because they’ve always paid my cellphone, but discarding that I’ve been to stability for a few months. Then i got into a car wreck and my job fired me because I had to be on disability for too long and lost everything. Slowly rebuilding to that level, but it’s tough as the rent to average wage ratio has gotten way out of hand in most cities. Looking to leave my current city for a much cheaper one soon, but even that has its own challenges (like selling many things i own and spending all my savings for a move to a place i don’t have work yet hoping to find work).
I'm between Independence and Freedom. It's a good place to be. I travel a lot especially in Winter, but I don't need to fly on jets. I'm staying on the low side.
28 y/o at level 4 - life is great and we’re just getting started. It’s all about who you know, I definitely couldn’t have got to this point without knowing the right people. Currently working to achieve level 5
I appreciate the honesty about having a good personal network. Makes sense!
You are definitely ahead of the curve here.
I'm 32YO and firmly sit in level 4.
I’m a peon stuck on level 2 for last 22 years of my life. But just got a way better paying job so that might change soon enough. Great video btw!
Congrats! DON'T CHANGE A THING. auto withdrawal from your account right into wherever it needs to go and reap the benefits of your labor.
I'm 32 at level 5, working on getting to level 6! Now that I'm at this stage it's so much fun, like a game 😂
Level 01 gang
👇
Thanks Sir, new insight to me
I’m only on level 3. Working on saving for a house deposit. Still over a year away!
I am 37, working in IT industry with 6 figure salary. Reached level 4 a couple of years ago, but currently at level 2.5 as most of my financial assets (diversified ETF portfolio on the stock market) was blocked last year and I was forced to go to immigration to another country with a small emergency fund.
Now I am slowly moving back to level 3 by maxing up my emergency fund and planning the steps for the next couple of years in my life - getting residency in the first world country, moving and settling on the new place and starting investment into the stock market using stable financial infrastructure and widely diversified ETFs.
Not sure if I would be able to reach level 5 whenever, but 4+ in 10-15 years looks realistic.
That sucks man hahahaha
All these podcasts are targeted to first world listeners. Others are simply ignored
What you mean your assets were blocked?
I’m 37 yo and I would say I’m at level 3-4. I do have more than 3-6 months of security for emergencies like paying the mortgage. Started a RE business as a side hustle to hopefully get to step 5.
True wealth is well being.
I'm at level 3, fighting to graduate into 4 :) Thanks for the awesome video!
I moved out from my parents around 2 months ago, still studying, and i feel quite better after watching this video. I was thinking all the time about how bad my sitauation was etc etc but i figure im easily standing in 2nd level slowly moving into 3rd. Im not going to slow down, but i feel a lot calmer right now. Just thinking about how much time i still have and that im basically just at the very beginning. Thanks for this video
47 year old here. Still at survival, always at survival and nothing but survival. How long. As long as I can until survival is no longer an option.
Well done!
32 years old and lvl 2, working towards the lvl 3. I really feel I need to be in the lvl 3 category as that will give me way more ease of mind in a world full of vaxxxes and economic pressure. If only I had a tutor 8 years ago, but I really started working myself up 3 years ago. Still on my way, but it’s looking much better than where I started.
Im 30yo, 3 small kids, wife, quite low mortgage, one house, a new car every 2 years. We save whole one monthly income from my wife. Im midlle class worker (steel engineer) with many side jobs for another companies. i think im beetwen level 2-3. And Hope i Will reach the next level in 5 years. Thanks for good explain of levels of wealth.
I am doing better than I thought to be honest. I'm middle class or level 4,but I live well within my means and have hobbies and interests that doesn't cost me loads of money.
Own your house have a few hundred in investments and a stable enjoyable job. Don't buy stuff to impress ppl you don't know or care about.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Living in So-Cal it's hard, but at age 56 I'm well into security, and trying to get to that independence. Shooting for by age 60, it's a tough haul. High household income in USA is "middle class, you're doing okay" in So-Cal. Enjoying the grind, always have since age 17.
I am level 1, 3, & 4 all at once. I'm a disabled vet living under my sister's roof which ironically i helped her buy it. I skipped level 2 because without rent or utility bills, 60% of my paycheck just piles up in my bank account waiting to be invested. I have an emergency fund and my brokerage account is sitting at $250k. More than enough to make me a millionaire without having to add anymore.
My situation is very abnormal because i'll have to go back to work to get a place of my own when i'm already financially secure.
Excellent video, Humphrey! I was wondering if you had any data or studies that show which levels of wealth provide people with the happiest and/or most fulfilled lives. At least for me, that would make it easier to decide where I want to aim.
Considering how I feel when I look at my bank account. I am definitely in the Depression stage
Currently at Financial Security. Working my way to FI hopefully within the decade. 🤞🏽
Some people are in the stability level and above and still have the survival mentality
The thumpnail picture got me... Got not disapointed afterwards. thumpsup!
Nice explanation.
Thanks, Humphrey.
As close to financially secure at 25 with a child that I can be! Own 2 duplexes and live in one of the units, once we move into our single family we are bound to take a slight step back
This really inspired me that I can take on a duplex, thank you! Is managing it hard? Do you pay another company to do that and do maintenance? Thanks for your help❤
@@Cloudyconfusion I manage them myself, its very easy until everything is going wrong all at once🤣 its best to buy a duplex and live in one side and get the house updated and functional
Subscribed!
36 years old. Paid house off at 31. Wish I invested hard after but took a break. Now at 36 I’m going hard at Roth IRA / 457b / and pension (total 33%) into retirement. Eventually will open brokerage
Level 3 for now, however I’m in bad economic environments so I’m satisfied with this level
Another great video, Hump.
Between 2 and 3 only because i don't have 3-6 months saved up yet, but I have everything else! At 36 I started over career wise but going for that FIRE (but it's Financial Independence, Recreational Employment).
31 years old and we’re at level 4. Within the next year we should have enough money in non-retirement investments to cash off our mortgage if the need should arise. I’m very much looking forward to that milestone.
I'm definitely at level 3 and have the potential to be at level 4 in the next couple of years.
They're levels to this game 🤑
24 y/o - stability stage working toward security. About 50% after tax savings rate. Should hit 6 month emergency fund EOY. Happy I started early.
wow great to hear
How much do you pay in Rent ?
@@BasicLib1250 before utilities, I live in Dallas.
Good stuff Humphrey!
Im at level 3, refilling my emergency funds, then getting my investments start again
I’d say I hit stage 3 in the past month. I just hit 6 months of emergency savings and finished paying off my student loans
I love this video. When Humphrey and Graham Stephan post a video on the same day, life is good.
Did he post? I gotta check!