Im 42 unmarried, no kids. Back when I was 39, I reached my goal to pay off all my debts, including my mortgage. I started making 6-figure income immediately after reaching my goal. I quit my job a month ago to start my own business and travel more. Im attending church more life is great. My next goal is to find a gal to marry and start a family 😊 I enjoyed watching this ☺️ Thanks!
@armando: Getting married would mostly ruin your plan and life. Besides, if you’re already at this age and doing well, why not just continue full throttle? I’m almost 54, never married and never wanted children. I would do it all over again.
Before finding that "gal" make sure she is on the same financial page as you additionally get a pre-nup. You are bringing a lot to the table 50 percent of the love stories end in divorce. If she doesn't want to sign one then tell her politely to go kick rocks and find a chic that will sign one.
@@thesauce669 Judges will treat pre-nups as toilet paper. The divorcing wife can always say that she signed the pre-nup without her lawyer present; that she signed it under distress; or the judg can claim that the pre-nup is very one sided. Just don't get married or bring your girl to your house to live with.
@@childfreesingleandatheist8899 dont have them living with you is the key. Want to know problems see Tiger Woods and what the girlfriend tried to claim.
yeah not so much, convincing people they need to have experiences over things has become an art to make people repeatedly buy substantially similar experiences in order to chase the same high. it's just considered classy. same as how at the dawn of indoor plumbing was all exposed in order to show off.
If the dollar collapses don’t be fooled your debts doesn’t disappear, they add it back to the new currency or mode of barter. best advice get out of debt. make regular investments be debt free and financially stable
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
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.
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.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $300k to around $680k.
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
These two speakers have the most perfect chemistry. Its a blockbuster of a show. I rarely watch an interview for more than 3minutes , this one gifted me an entire hour pausing and rewinding. Great stuff!
Ramsey saved my life and got me out of major debt and have been debt free and haven’t worried about money in 15 years. First major rule that helped me is don’t give a sh!t about what others think about you. It’s way easier from there. Good luck every one!! 🙏🏻❤️🙏🏻 Ps. Gracious giving is also the key to wealth like he said. It’s counterintuitive but it really works!
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my portfolio worth of $800k from this bloodbath.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my port;folio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $300k to around $680k.
I loved this on many levels. As a person who retired from the military, and about to retire for the second time, I realized later in life debt is slavery and I can be happy with less. Amazing show.
Praise to God Almighty!!!! I'm favoured $150k every 4weeks! I can now give back to the locals in my community and also support God's work and the church. God bless America 🇺🇲💗💓💗💞 Thanks to Maksim konstan
Took a step back from my previous career where I went from 230k to 120k. Went from 11 hours of work to 6 hours of work and relaxing on the weekend. Love it!
Did same thing went from a 180k job traveling to a 110k job back in nc where cost of living is cheap, home everyday weekends off moved back to my roots after military and chasing money.
@@terrencemcphail5782 Nothing beats: - Restful night - Mental Health - Not hearing Teams messages every 5 mins - Enjoy a 1 hour break - Not to constantly regret working every single sec - Not having to dread Sundays nights - Not sleeping in on Saturdays to recuperate - Not drinking yourself to numb the pain
@@terrencemcphail5782 can you guys tell me what you all are doing. I’m young and trying to figure out a path for making a living myself. Still in college, uncertain about the specific degree lol
I say this as an individual (but married for 39 years) for a long time we lived paycheck to paycheck. Finally, that day came where we had this feeling that we needed to make financial freedom a top priority. This meant getting on a budget, paying off debt, having a cash savings for the unexpected, saving up for big purchases, assigning a job to each dollar and investing. We simply made too much money to be living paycheck to paycheck. Now that we have achieved a measure of financial stability, I find that it is true that putting $500 in savings makes us considerably happier than spending that money on something we probably don't need. I really can't brag to my friends and co-workers about the wonderful experience of being debt free, owning our home mortgage free and clear and having a few dollars in my wallet to spend on anything I want. So, I have to keep my happiness to myself but I'm up to the task.
Writing a check (anachronistic, I know) to yourself instead of to X, Y, Z corporation is SUCH A GOOD FEELING!! Getting to a place where you can do that takes time for most people. Teach your kids financial principals, people. The sooner they get there the better!
You need to share more details. How big is your family? If and when did you buy a home and for how much and at what interest rate? What is your and as applicable your spouse’s educational background (including where, what, and when degrees earned) and current salary/s and jobs you have. Then we can assess how well your experience can motivate today’s younger generation.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
I live in Boston and once complained about our "worst" weather to a coworker. She casually mentioned she was originally from Siberia. 😳 Boston, you're off the hook!
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
Im Mormon and ive been tithing ever since ive started working. 10% every paycheck. Its been a blessing and I can see the hand of GOD bless me and my family through tithing.
It is good to be reminded of this. I have had no debt for the last 25 years. It doesn't move the needle for me like it used too but when I see these shows it reminds me why I lived this way.
Praise to God Almighty!!!! I'm favoured $150k every 4weeks! I can now give back to the locals in my community and also support God's work and the church. God bless America 🇺🇲💗💓💗💞 Thanks to Maksim konstan
@18:43 I asked myself the same thing about you when I found your channel back in April of 24. Since finding you, Rachel and Dave Ramsey. I've completely changed my life for the better and you all have even motivated me to start a UA-cam channel trying to pass on everything i learn from you all. One day I hope I can get the chance to meet you all. The life I'm creating for myself wouldn't be possible without all the knowledge I've learned from your whole tribe. Thank you from the bottom of my heart. You guys are changing people lives everyday, I know this cause you've changed mine! Thank you!
I didn't buy a 85k plus Custom truck but I did buy a 40k truck in 2009 and it's still running strong like new at 228k miles. I got fed up with fixing other ppls problems. It never end, always fixing till to the point it wasn't worth the value of the vehicle. Always traded every 2yrs cash but repairs didn't stop. New truck in 2009. No issues for 8 straight yrs, now it's just maintenance and DIY replace worn out parts. I'm happy with my 15yr old truck. Best of all, no payments for past 11yrs. There's benefits of buying new depending on make and model. Mine is 09 ram with lifetime powertrain warranty
I know what you mean. Vehicles are the one caveat here. I bought an old car trying to be thrifty but I ended up putting so much money into it that I think it would have been easier to pay for something more expensive at the beginning.
Arthur Brooks’ older book Loved Your Enemies saved me from the horrors of ideological extremism and helped me become more open minded. I’m so happy that his incredible work has grown and expanded.
@@thesauce669you know dude, even if you don't give a dollar some other chump will and you get to see them naked anyways. Also you can show up pre-half drunk to the bar
George, I like your videos. Even when they're the baby steps formatted for audiences with tiktok length attention spans. I LOVE your videos where you are sitting down and chatting with experts. But THIS video is just phenomenal. The information is life changing, validates the Ramsey plan... Wow. Thank you to you and the team for bringing us HOPE
They are skewed to getting people that will say exactly what Dave Ramsey wants them to say. No one that has a minimal criticism to Dave’s baby steps will not be invited.
Empowered by financial knowledge, I'm reclaiming my monetary destiny, eager to shatter the myth that six-figure gains are exclusive to elite investors, and determined to unlock the secrets of rapid wealth creation, one strategic investment at a time.
Breaking free from financial uncertainty, I've seized control of my investments, diversifying my portfolio with strategic ETF selections and savvy individual stock picks. Overcoming fear and doubt, I boldly reinvested $350,000 under expert guidance, yielding a remarkable 82% return last year, and now I'm poised to harness the power of long-term growth and compound interest to propel my wealth forward.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Money can't buy happiness but it gives me great joy to pay my bills and do what I have to survive with my money. I don't know if you want to call that happiness. But I've become happy every time. I use money to solve a problem in my life. So money does not guarantee happiness. But it sure makes me happy many, many times a month when I take care of business.
@@WilliamMartinez-vq2bn I agree, it can help achieve a life where you are able to pursue the things in life that make you happy. Such as time with family, travel, hobbies, etc.
It feels good to live within my means now. Last week I took a short trip to Orlando with my girlfriend to see a concert and go to Icon park. I just paid cash for a new car a few weeks ago and I miss seeing the actual progress I made but I'll get my next goals lined up here soon. I just got back from a doctor's appointment as well. I'm glad I can take care of my health too.
I needed this video two weeks ago before I bought my small used truck. I thought I needed a truck so that I could do yardwork. Take the grass to the dump do tree trimming and small projects around the house. This guy totally reframed it because the $700 a month I would spend on the payment and insurance and fuel could go to people that would do the things I needed done and it would free me up time. Wow, did I miss the boat on that one?
You're paying $700/month for a used truck??? Sell it. Buy a cheaper used car CASH. If you want another truck, save for it and pay cash. I started listening to Dave Ramsey in the 90s. I don't go along with everything. (I have a credit union credit card that gets paid off every month. Debit cards are too risky in my opinion.) BUT, I am debt free and there is no weight sitting on my shoulders! The Bible says the borrower is slave to the lender. This is true! Keep setting goals. It's what motivates you.
Or you could just have a small compost pile in the yard for the trimmings, and fire pit for burning branches. I’ve got a 2006 Prius hatchback and I brought an entire kitchen reno worth of materials with it, including 8ft slabs of granite.
I never thought I could like a Harvard professor, but Arthur Brooks has proved me wrong. This was seriously one of the best videos - certainly concerning one’s financial and well being - that I have ever seen. I adore the last bit about investment of love across Faith, Family, Friendships, and Work. You have a new subscriber and I’m moving from the NE to Tennessee. 🙏🏻 ♥️ 🇺🇸
Exploring the high-stakes world of day trading reveals a blend of risk and reward, where strategic leverage plays and timing during market fluctuations can lead to significant gains from minimal investments. This approach emphasizes the necessity of careful risk management, including setting stop losses and technical analysis, to navigate the volatile markets effectively.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to *Julia Lembcke*, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
I don’t know. I rarely buy stuff, but when I do buy I tend to be happy. Sometimes it’s momentary, sometimes I just feel good enjoying the stuff I’ve bought. It’s not everything, but there is some happiness there.
If you're not going into perpetual debt to buy an occasional "thing", and still putting money away while maintaining basic responsibilities, then there isn't much harm in that. Balance, awareness, self control. I have an addiction to music, buying records, CDs etc. But nothing comes before investing in myself and keeping my house in order.
It’s all in how you frame everything though. You could buy a couch and have “good experiences” on it too. You can buy a car and take a memorable road trip too. Stuff sometimes allows you to have those experiences. Your perspective on everything, actually matter when it comes to happiness.
This is actually true in my case. During the pandemic when all were uncertain, just by having no debt made me less stressed out with all the happenings and lockdown.
I actually didn’t like my honeymoon & it was dirt cheap. But I was thrilled that it was dirt cheap because then me and my 20-year-old spouse were able to buy a duplex six months later Now we own three . Sometimes experiences are not worth the investment
Most people find that their "experiences" are totally worthless when they try to sell a few to come up with enough money to pay their rent at the end of the month.
There is a saying: "No place like home". I hardly buy experiences because they are expensive and I fear the end result that "I wasted my money". My happiness lies inside my home that I renovate but also in keeping ❤ and peace with my family... My son loves being at home...
The way they end it at the 27 minute mark is absolutely amazing. It ties together everything, staying out of debt and investing in love, which is biblical. Romans 13:8, "owe no one anything except to love each other."
I'm the type who would remember the couch 🛋....because I'd keep it for years! And remember all of the movies we've watched sitting on it...what an experience 😊
I feel the same way. My husband and I bought a decent quality couch shortly after getting married, and we still use it to this day even though it’s 25 years old. Most of our vacations at the beginning were very affordable; because we had young boys, the majority of our getaways were camping trips, which the kids loved, not so enjoyable for me btw, but my happiness came from seeing them have tons of fun.
The fact that fewer and fewer people are marrying and having families is going to have a HUGE long-term effect on how people save and spend their money because a large segment of the population will have no incentive to care about transferring their wealth to the next generation. For people like me, who have no family, the advice to save out of love for your family makes no sense. And, people like me are a quickly increasing segment of the world’s population.
So what are really the best strategies to make our portfolio recession proof. my wife is already panicking, so many questions! will the rate cut next month lead to inflation? I'm very worried about my $1million stock portfolio losing value. It lost 20 % today alone
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
True, my portfolio took a massive hit in 2022, and I almost sold everything to switch to cash savings. However, I was advised to consult a financial advisor. Following the guidance of this CFA, my portfolio started increasing by 10% monthly. She had anticipated the crash and rebalanced my portfolio accordingly.
To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
10% goes to uplifting the next generation in my family to achieve their goals quicker. They are able to graduate college without student loans. Charity begins at home to those who have a goal and a plan. Family first. When one rises and help another we all rise as a family.
Apparently I am the exception to the rule. In nearly ALL times I have given money away out of kindness, or even a personal loan, I have not gotten it back. On 3 occasions it was a significant amount of money. One might even start to think "it must be me" but then, this self doubt is ridiculous. I would love to personally contact this guy or be contacted by him to discuss these events in my life. I'm genuinely curious how he would address them. Because at this point in my life I have sworn to myself and my family I will never loan money again I expect back. Giving to a charity is another thing.
I invest in real estate and was worried about this video. It was actually quite refreshing. The Dr. clearly understands the differences in debts for investments and non-investments. I took down several notes, thanks for having him on.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
After the birth of our kid, one of the greatest moments in our life was paying off that mortgage there’s just no way to explain how sweet life is when you have no debts whatsoever on anything along with a fully funded emergency fund you kind of feel invincible to life’s daily hassles, in a funny kind of way.
I have paid down as much as possible within 10 years so I am only on 30% I need to pay down. But in parallel I have started to build my cash flow portfolio. Now my dividends are paying my mortgage. I think this was a good step for me to have the length in the stock market.
the first step to gaining wealth is figuring-out your goals either on your own or with heIp of a financiaI pIanner and foIIowing through with InteIIigent pIans; you wiII gain financiaI growth in no time and enjoy the decision of managing your finance
😂 same here. That's why I buy tools and do it myself. For those projects that are too complex and I have to pay. I avoid seeing the work in progress because I would lose my mind if I saw half ass workmanship.
Everytime I've hired someone to do something to my house... They've screwed up or I haven't been happy with the workmanship. It feels awful when you haven't done something before and you can do a better job than the person your paying $100 an hour to do.
Decided to hire a pest control guy to take care of the ants that were attacking my air conditioner. He shows up with a bag of ant killer that you can buy for $8 at the farm store. Sprinkles them around and leaves. $150 later. No, I never feel good hiring people to do stuff around my place. Only twice contractor's have worked out....when I had them fix my roof and cut down two dangerous trees. Otherwise I'd rather be independent and learn to do things myself
@@ShawwwHa As a Contractor you sound like a tough critic. However hire professionals with many positive reviews. In my honest opinion you sort of get what you pay for in the construction field.
He made me grateful I have a boss I actually like. We work well together and what I do helps his job immensely and I guess I get gratification out of this
Loved this. And loved Arthur Brooks! What a gem of a dude. He's right about the four investments: Faith, Family, Friends, and Work. Thank you for this content!
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Just so everyone knows, that 2.85% mortgage isnt actually 2.85% because of Amortization. On a monthly basis, you might be paying 60-80%! Pay that mortgage off ASAP!
What do you mean? How can I learn more about this? Are you saying if someone is considering whether to pay off their mortgage or use equity to reinvest in other investments such as stocks it's better to pay the mortgage off?
Found Dave Ramsey at 23, followed it, gazelle intense. I’m 37 now and life is amazing. Wife and kid with a lot of stability because of the decade of effort I put in before meeting her. Keep the motivation all!
I started tithing after taxes. I was blessed immediately. 🙏🏿 Since then, I've continued to tithe that way. Still blessed to the point that I do give a little bit more each time, but have also been blessed to the point that I've been able to give more to causes I believe in.
I’ve never heard anyone talk about this, but when we were heavy in debt I got used to the idea of never paying down the debt, but living a new normal of just budgeting paying the required amount on time. Paying down debt hurt our budget.
I hit a point where my retirement account will grow on its own and take care of me at that point, now I can shift those funds and travel more and enjoy my life more often NOW! No faith, just belief in myself.
People in America, they think they are entitled to do anything and spend money like water. The way they living style is being controlled by money . The truth is there are people don't know what the priority and many people don't see what their circumstances Which is so sad . It is important for people to assess their situation and what the priority and manage money. I hate seeing people who rely on others without them to earn their own. This is why we are where we are now . ( so many debts, broke, homeless..) I am an 40 yrs old immigrant who came to USA with nothing but started from beginning and I have own my house and great job. If I did this, I believe anyone can do it. The matter of how much they are diligent and willing to do it.
"don't buy stuff" sounds good in general but I have a collection of retro videos games and I get happy every time I look at them. I still play my Gameboy Color almost every day. I have a complete in box copy of Rampage for the NES that I got my boyfriend as a gift and it's right up on the shelf with my rarest Wii U games (the Wii U is the console I collect for the most). If you have love for what you buy, it's not a waste.
Dont give money so much power. You don't need all these worthless disposable modern things. You're falling into the trap of being a consumer, making everyone else rich.
Its true. I recently sold a bunch of stuff and my monthly allowance I used to buy stocks for investment for my future. It's an extra side investment that I'm hoping will grow huge the next 10-15 years. I could easily use this money to buy a lot of electronics and equipment that I always wanted like the laser projector for my game room that I've always wanted and a bunch of other things I want but I realized that saving and watching the progress over the years is way more enjoyable than the things I would have bought.
Thank you for the guest. Awesome knowledge. I am about research and learning. At 67, I gained knowledge and applied past knowledge. As I age, I can finally share my knowledge, and it feels awesome.
Wow!!! I understanding my husband about buying things when you dont have the money but also Dr. Mentioned about keeping memories with family. Im totally in. I started the budget and it is insane.....I get happy when my balance is getting lower. It does feel amazing
Love this interview. Learned a lot. And kudos, George! I have seen a lot of interviews where the interviewer frequently interrupts but I love the way you let him talk and listen.
Well, we book hotel, car and fly using PayPal credit card 0% interest for 6 months in every vacation. We have the money to pay all up front, but borrowing at 0% help us invest and pay our student loan debt more aggressively. Also, human physiology with money is “the more you make the more you spend”. Stop impressing ppl, nobody care what you drive what you wear, live bellow your mean, save money and invest. Yes, it’s scary to not be “normal”, learn, knowledge is power. Finally, be aware of a lot of these so called experts, run away from those with a suit and selling you a fast path to be rich. Great video!
Car debt? I could pay cash but suddenly the car I wanted to replace my nine year old car was 0.99%. No brainer as my investment account is making 25%. Gave over $150K away last year. In this Go-Go market this is not a problem, even when the market goes down still helping others at the same rate is a happy feeling.
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
@candicemay It's hard to tell yourself "no" when you had it rough growing up and now you have the money to do and get stuff you didn't have the chance to as a child
Sounds to me like the choice for the "beach vacation" simply showed how necessary the couch was... Ended up buying it anyways, resulting in "spending twice" 😅
Heh, my husband and I have been married 5 years and we still dont have proper furniture in our apartment, but we have a ton of experiences together that we didn't skimp on the budget on ...I feel validated 😊
I hire out grocery shopping. Yet I wash & detail my own vehicle. I recently moved into my own duplex & hired out junk removal & eviction cleanup crews. I spent $1k yet they saved me two weeks in time if I had to do it by myself. Hire out. Save yourself time. Enjoy more experiences!
Im 42 unmarried, no kids. Back when I was 39, I reached my goal to pay off all my debts, including my mortgage. I started making 6-figure income immediately after reaching my goal. I quit my job a month ago to start my own business and travel more. Im attending church more life is great. My next goal is to find a gal to marry and start a family 😊 I enjoyed watching this ☺️ Thanks!
Loving your goals !
How long did it take you to pay off your mortgage?
@armando: Getting married would mostly ruin your plan and life. Besides, if you’re already at this age and doing well, why not just continue full throttle? I’m almost 54, never married and never wanted children. I would do it all over again.
Before finding that "gal" make sure she is on the same financial page as you additionally get a pre-nup. You are bringing a lot to the table 50 percent of the love stories end in divorce. If she doesn't want to sign one then tell her politely to go kick rocks and find a chic that will sign one.
@@thesauce669 Judges will treat pre-nups as toilet paper. The divorcing wife can always say that she signed the pre-nup without her lawyer present; that she signed it under distress; or the judg can claim that the pre-nup is very one sided. Just don't get married or bring your girl to your house to live with.
@@childfreesingleandatheist8899 dont have them living with you is the key. Want to know problems see Tiger Woods and what the girlfriend tried to claim.
Arthur was my professor at Harvard, he is the boss. So happy to see him together with the Ramsey team.
Indeed.
What is his full name?
@@markusmuschiol1966Authur Brooks
@@coachtracy747 Thank you 🤗
Well...this is interesting...another user that knows a professor. I gotta inquire about this.
How does it feels to see your professor in UA-cam.
“You’ll forget the stuff but you won’t forget the experience.”
Love it! ❤🙌🏼
yeah not so much, convincing people they need to have experiences over things has become an art to make people repeatedly buy substantially similar experiences in order to chase the same high. it's just considered classy. same as how at the dawn of indoor plumbing was all exposed in order to show off.
You will forget the details of the experience. Video your experiences (within reason).
If the dollar collapses don’t be fooled your debts doesn’t disappear, they add it back to the new currency or mode of barter. best advice get out of debt. make regular investments be debt free and financially stable
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.
If the dollar collapses what happens to our investments. Would that be added to the new currency
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.
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.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $300k to around $680k.
That's quite impressive! Can you share more information about your financial advisor?
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
These two speakers have the most perfect chemistry. Its a blockbuster of a show. I rarely watch an interview for more than 3minutes , this one gifted me an entire hour pausing and rewinding. Great stuff!
Yeah, this wasn't just informative but actually fun. Ideas become so much easier to digest this way.
Ramsey saved my life and got me out of major debt and have been debt free and haven’t worried about money in 15 years. First major rule that helped me is don’t give a sh!t about what others think about you. It’s way easier from there. Good luck every one!! 🙏🏻❤️🙏🏻
Ps. Gracious giving is also the key to wealth like he said. It’s counterintuitive but it really works!
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my portfolio worth of $800k from this bloodbath.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my port;folio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $300k to around $680k.
I could really use the expertise of this advsors
I loved this on many levels. As a person who retired from the military, and about to retire for the second time, I realized later in life debt is slavery and I can be happy with less. Amazing show.
Praise to God Almighty!!!! I'm favoured $150k every 4weeks! I can now give back to the locals in my community and also support God's work and the church. God bless America 🇺🇲💗💓💗💞
Thanks to Maksim konstan
Took a step back from my previous career where I went from 230k to 120k. Went from 11 hours of work to 6 hours of work and relaxing on the weekend. Love it!
Did same thing went from a 180k job traveling to a 110k job back in nc where cost of living is cheap, home everyday weekends off moved back to my roots after military and chasing money.
@@terrencemcphail5782 Nothing beats:
- Restful night
- Mental Health
- Not hearing Teams messages every 5 mins
- Enjoy a 1 hour break
- Not to constantly regret working every single sec
- Not having to dread Sundays nights
- Not sleeping in on Saturdays to recuperate
- Not drinking yourself to numb the pain
@@terrencemcphail5782 can you guys tell me what you all are doing. I’m young and trying to figure out a path for making a living myself. Still in college, uncertain about the specific degree lol
Wow! Time is valueable.
This.
I say this as an individual (but married for 39 years) for a long time we lived paycheck to paycheck. Finally, that day came where we had this feeling that we needed to make financial freedom a top priority. This meant getting on a budget, paying off debt, having a cash savings for the unexpected, saving up for big purchases, assigning a job to each dollar and investing. We simply made too much money to be living paycheck to paycheck. Now that we have achieved a measure of financial stability, I find that it is true that putting $500 in savings makes us considerably happier than spending that money on something we probably don't need. I really can't brag to my friends and co-workers about the wonderful experience of being debt free, owning our home mortgage free and clear and having a few dollars in my wallet to spend on anything I want. So, I have to keep my happiness to myself but I'm up to the task.
Refreshing to hear this ❤.
My dream
Writing a check (anachronistic, I know) to yourself instead of to X, Y, Z corporation is SUCH A GOOD FEELING!! Getting to a place where you can do that takes time for most people. Teach your kids financial principals, people. The sooner they get there the better!
I say tell it!!! We overcome by the blood of the lamb and the words of our testimony. Someone will NEED to hear it. 😊😊😊😊😊
You need to share more details. How big is your family? If and when did you buy a home and for how much and at what interest rate? What is your and as applicable your spouse’s educational background (including where, what, and when degrees earned) and current salary/s and jobs you have.
Then we can assess how well your experience can motivate today’s younger generation.
Thank you for recommending Sarah Jennine Davis on one of your videos. I reached out to her and investing with her has been amazing.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
@@สมรักษ์อินทร์ตา-ม7ฑ Sarah Jennine Davis is highly recommended
You most likely should get her basic info when you search her on your browser.
@@Elijah-e6vHow do I access her ? I really need this
+156
I live in Boston and once complained about our "worst" weather to a coworker. She casually mentioned she was originally from Siberia. 😳 Boston, you're off the hook!
😅
I live in Boston as well and we have beautiful summer ☀️ weather. Snow ❄️ hasn't been that bad in recent years. 😊
@@sunnyd4734 It's really been a shame-- summer gets too hot, winter isn't nearly cold or snowy enough. Still got plenty of rainy days unfortunately.
@@sunnyd4734 I live in Plymouth and we haven't had any measurable snow in the last couple of years. Wait a few years, we won't have any snow!
@@Tracey-hg9sj Did they recently restore the Mayflower II? Is it docked in Plymouth harbor?
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
I'm interested in investing, but I'm not sure where to start. Do you have any advice or contacts who can help me out?
Investing can be complex, so it's smart to get professional guidance when building your financial portfolio.
It's a great idea to have a conversation with financial advisors like Amanda Martin to reshape your portfolio.
I spread out my $25k portfolio across various markets to diversify my investments.
That's awesome! I ended up making a net profit of about $115k by investing in high dividend yield stocks, ETFs, and equity.
Im Mormon and ive been tithing ever since ive started working. 10% every paycheck. Its been a blessing and I can see the hand of GOD bless me and my family through tithing.
Your God is satan.
Before or after taxes
It is good to be reminded of this. I have had no debt for the last 25 years. It doesn't move the needle for me like it used too but when I see these shows it reminds me why I lived this way.
I may be overthinking, but I believe he’s done a lot of research
Praise to God Almighty!!!! I'm favoured $150k every 4weeks! I can now give back to the locals in my community and also support God's work and the church. God bless America 🇺🇲💗💓💗💞
Thanks to Maksim konstan
His confidence and how he holds himself is admirable
@18:43 I asked myself the same thing about you when I found your channel back in April of 24. Since finding you, Rachel and Dave Ramsey. I've completely changed my life for the better and you all have even motivated me to start a UA-cam channel trying to pass on everything i learn from you all. One day I hope I can get the chance to meet you all. The life I'm creating for myself wouldn't be possible without all the knowledge I've learned from your whole tribe. Thank you from the bottom of my heart. You guys are changing people lives everyday, I know this cause you've changed mine! Thank you!
Dave too?
@@mandypdx of course
I didn't buy a 85k plus Custom truck but I did buy a 40k truck in 2009 and it's still running strong like new at 228k miles.
I got fed up with fixing other ppls problems.
It never end, always fixing till to the point it wasn't worth the value of the vehicle.
Always traded every 2yrs cash but repairs didn't stop.
New truck in 2009. No issues for 8 straight yrs, now it's just maintenance and DIY replace worn out parts.
I'm happy with my 15yr old truck. Best of all, no payments for past 11yrs.
There's benefits of buying new depending on make and model.
Mine is 09 ram with lifetime powertrain warranty
Don't buy anything newer than 2023, Spyware, tracking etc. Is being added to them all now.
I know what you mean.
Vehicles are the one caveat here. I bought an old car trying to be thrifty but I ended up putting so much money into it that I think it would have been easier to pay for something more expensive at the beginning.
You bought the right vehicle new. It is possible to buy a good used vehicle. God provides🙏🙌🤲
@@FindTheTRUTH337the caveat about God provides is that God also let it crumble, don't forget that, God giveth and God taketh!
Arthur Brooks’ older book Loved Your Enemies saved me from the horrors of ideological extremism and helped me become more open minded. I’m so happy that his incredible work has grown and expanded.
It’s Proverbs 11:24, to receive back more than you give
If i give my entire paycheck to strippers will I get double my money back? If so how long will it take?
@@thesauce669don't take it too literally. Refresh your attitude and your perspective. Focus and do hard work. It will get better. Just hang on.
@@thesauce669you know dude, even if you don't give a dollar some other chump will and you get to see them naked anyways. Also you can show up pre-half drunk to the bar
@@thesauce669always a moron like yourself asking stupid questions
George, I like your videos. Even when they're the baby steps formatted for audiences with tiktok length attention spans. I LOVE your videos where you are sitting down and chatting with experts. But THIS video is just phenomenal. The information is life changing, validates the Ramsey plan... Wow. Thank you to you and the team for bringing us HOPE
Yes!! I love the longer formats!
@@vanillasunrise1absolutely! Could've listened to them talk for hours
They are skewed to getting people that will say exactly what Dave Ramsey wants them to say. No one that has a minimal criticism to Dave’s baby steps will not be invited.
Remember Dave has made a living for 30+ years with those flipping baby steps.
@@User12345fan
How does that actually change anything
Empowered by financial knowledge, I'm reclaiming my monetary destiny, eager to shatter the myth that six-figure gains are exclusive to elite investors, and determined to unlock the secrets of rapid wealth creation, one strategic investment at a time.
Breaking free from financial uncertainty, I've seized control of my investments, diversifying my portfolio with strategic ETF selections and savvy individual stock picks. Overcoming fear and doubt, I boldly reinvested $350,000 under expert guidance, yielding a remarkable 82% return last year, and now I'm poised to harness the power of long-term growth and compound interest to propel my wealth forward.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Impressive can you share more info?
Her name is “Rebecca Noblett Roberts” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.
So buying that Ford Raptor while working at McDonald’s is a bad idea. Got it!
Used Raptor, McDonald’s CEO
😅😂
Gotta drive a massive SUV around the rugged, untamed wilderness of Manhattan, NYC to show everyone how impotent you are.
Money can't buy happiness but it gives me great joy to pay my bills and do what I have to survive with my money. I don't know if you want to call that happiness. But I've become happy every time. I use money to solve a problem in my life. So money does not guarantee happiness. But it sure makes me happy many, many times a month when I take care of business.
@@WilliamMartinez-vq2bn I agree, it can help achieve a life where you are able to pursue the things in life that make you happy. Such as time with family, travel, hobbies, etc.
It feels good to live within my means now. Last week I took a short trip to Orlando with my girlfriend to see a concert and go to Icon park. I just paid cash for a new car a few weeks ago and I miss seeing the actual progress I made but I'll get my next goals lined up here soon. I just got back from a doctor's appointment as well. I'm glad I can take care of my health too.
Nice.
I needed this video two weeks ago before I bought my small used truck. I thought I needed a truck so that I could do yardwork. Take the grass to the dump do tree trimming and small projects around the house. This guy totally reframed it because the $700 a month I would spend on the payment and insurance and fuel could go to people that would do the things I needed done and it would free me up time. Wow, did I miss the boat on that one?
You're paying $700/month for a used truck??? Sell it. Buy a cheaper used car CASH. If you want another truck, save for it and pay cash. I started listening to Dave Ramsey in the 90s. I don't go along with everything. (I have a credit union credit card that gets paid off every month. Debit cards are too risky in my opinion.) BUT, I am debt free and there is no weight sitting on my shoulders! The Bible says the borrower is slave to the lender. This is true! Keep setting goals. It's what motivates you.
Or you could just have a small compost pile in the yard for the trimmings, and fire pit for burning branches. I’ve got a 2006 Prius hatchback and I brought an entire kitchen reno worth of materials with it, including 8ft slabs of granite.
Could you reword this where it makes sense?
@@lindabaker667
_”The Bible says the borrower is slave to the lender.”_
I bet the Torah says the same thing. 😉
I never thought I could like a Harvard professor, but Arthur Brooks has proved me wrong.
This was seriously one of the best videos - certainly concerning one’s financial and well being - that I have ever seen. I adore the last bit about investment of love across Faith, Family, Friendships, and Work. You have a new subscriber and I’m moving from the NE to Tennessee. 🙏🏻 ♥️ 🇺🇸
get rid of any unnecessary purchases, especially things that cost you monthly or better still, consider financial planning
Exploring the high-stakes world of day trading reveals a blend of risk and reward, where strategic leverage plays and timing during market fluctuations can lead to significant gains from minimal investments. This approach emphasizes the necessity of careful risk management, including setting stop losses and technical analysis, to navigate the volatile markets effectively.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to *Julia Lembcke*, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Thanks for the reference
Ohh great! How do I get a reach to her?
SCAM ALERT!!
I don’t know. I rarely buy stuff, but when I do buy I tend to be happy. Sometimes it’s momentary, sometimes I just feel good enjoying the stuff I’ve bought. It’s not everything, but there is some happiness there.
Do you have ' buyers remorse ' ?
Delayed gratification. ✨
If you're not going into perpetual debt to buy an occasional "thing", and still putting money away while maintaining basic responsibilities, then there isn't much harm in that. Balance, awareness, self control.
I have an addiction to music, buying records, CDs etc. But nothing comes before investing in myself and keeping my house in order.
When you buy things😅 you need, then it make you happy but if you buy impulse then you feel unhappy
This is my husband and I did!! We’re zero debt and it is the most amazing feeling to be debt free!!
It’s all in how you frame everything though. You could buy a couch and have “good experiences” on it too. You can buy a car and take a memorable road trip too. Stuff sometimes allows you to have those experiences. Your perspective on everything, actually matter when it comes to happiness.
This is actually true in my case. During the pandemic when all were uncertain, just by having no debt made me less stressed out with all the happenings and lockdown.
I actually didn’t like my honeymoon & it was dirt cheap.
But I was thrilled that it was dirt cheap because then me and my 20-year-old spouse were able to buy a duplex six months later
Now we own three .
Sometimes experiences are not worth the investment
Most people find that their "experiences" are totally worthless when they try to sell a few to come up with enough money to pay their rent at the end of the month.
Owning a home is a wonderful experience! And having a real estate portfolio, once again, great experience.
There is a saying: "No place like home". I hardly buy experiences because they are expensive and I fear the end result that "I wasted my money". My happiness lies inside my home that I renovate but also in keeping ❤ and peace with my family... My son loves being at home...
The way they end it at the 27 minute mark is absolutely amazing. It ties together everything, staying out of debt and investing in love, which is biblical. Romans 13:8, "owe no one anything except to love each other."
I'm the type who would remember the couch 🛋....because I'd keep it for years! And remember all of the movies we've watched sitting on it...what an experience 😊
I feel the same way. My husband and I bought a decent quality couch shortly after getting married, and we still use it to this day even though it’s 25 years old. Most of our vacations at the beginning were very affordable; because we had young boys, the majority of our getaways were camping trips, which the kids loved, not so enjoyable for me btw, but my happiness came from seeing them have tons of fun.
One of the best 30 mins of my life, I am so glad I don't have Tiktok on my phone, 30 mins can be so valuable yet can also be so wasteful.
Arthur's focus of a happiness mindset being regulated by your brain is spot on for decisions of being debt free and living below your means
The fact that fewer and fewer people are marrying and having families is going to have a HUGE long-term effect on how people save and spend their money because a large segment of the population will have no incentive to care about transferring their wealth to the next generation. For people like me, who have no family, the advice to save out of love for your family makes no sense. And, people like me are a quickly increasing segment of the world’s population.
Make a will that gives your fortune to a charity you love
So what are really the best strategies to make our portfolio recession proof. my wife is already panicking, so many questions! will the rate cut next month lead to inflation? I'm very worried about my $1million stock portfolio losing value. It lost 20 % today alone
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
True, my portfolio took a massive hit in 2022, and I almost sold everything to switch to cash savings. However, I was advised to consult a financial advisor. Following the guidance of this CFA, my portfolio started increasing by 10% monthly. She had anticipated the crash and rebalanced my portfolio accordingly.
To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
10% goes to uplifting the next generation in my family to achieve their goals quicker. They are able to graduate college without student loans.
Charity begins at home to those who have a goal and a plan. Family first. When one rises and help another we all rise as a family.
This is true! I have given money away my whole life, and I always seem to get it back!
Apparently I am the exception to the rule. In nearly ALL times I have given money away out of kindness, or even a personal loan, I have not gotten it back. On 3 occasions it was a significant amount of money. One might even start to think "it must be me" but then, this self doubt is ridiculous. I would love to personally contact this guy or be contacted by him to discuss these events in my life. I'm genuinely curious how he would address them. Because at this point in my life I have sworn to myself and my family I will never loan money again I expect back. Giving to a charity is another thing.
LOVE this!!! Now I’m going to binge all the Arthur Brooks videos. Rock on!
What a learned individual. Truly decades worth of lessons in just 30 minutes. Thanks for this video!
I invest in real estate and was worried about this video. It was actually quite refreshing. The Dr. clearly understands the differences in debts for investments and non-investments. I took down several notes, thanks for having him on.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
After the birth of our kid, one of the greatest moments in our life was paying off that mortgage there’s just no way to explain how sweet life is when you have no debts whatsoever on anything along with a fully funded emergency fund you kind of feel invincible to life’s daily hassles, in a funny kind of way.
I very rarely hear of anyone who regrets paying off their mortgage.
Most of us won’t become millionaires, and I think the next best thing to being a millionaire is being debt-free..
I agree. We paid off our place last August. I cried with joy. We will pay off the last of our debt (truck) end of July. The feeling is freeing!
Welcome to the debt free club. Retired at 42... now 45. They hate us, cause they ain't us.
I have paid down as much as possible within 10 years so I am only on 30% I need to pay down. But in parallel I have started to build my cash flow portfolio. Now my dividends are paying my mortgage. I think this was a good step for me to have the length in the stock market.
Can we choose to be happy with what we already have?❤🎉
Defenetly 😅
This is amazing. “Wealth has no shortcuts, there’re ways to attain it.”
the first step to gaining wealth is figuring-out your goals either on your own or with heIp of a financiaI pIanner and foIIowing through with InteIIigent pIans; you wiII gain financiaI growth in no time and enjoy the decision of managing your finance
I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.g
Elizabeth Greenhunts
get to her with the name
I don’t love mowing my lawn. But I HATE correcting contractors.
😂 same here. That's why I buy tools and do it myself.
For those projects that are too complex and I have to pay. I avoid seeing the work in progress because I would lose my mind if I saw half ass workmanship.
Everytime I've hired someone to do something to my house... They've screwed up or I haven't been happy with the workmanship. It feels awful when you haven't done something before and you can do a better job than the person your paying $100 an hour to do.
Decided to hire a pest control guy to take care of the ants that were attacking my air conditioner. He shows up with a bag of ant killer that you can buy for $8 at the farm store. Sprinkles them around and leaves. $150 later. No, I never feel good hiring people to do stuff around my place. Only twice contractor's have worked out....when I had them fix my roof and cut down two dangerous trees. Otherwise I'd rather be independent and learn to do things myself
@@ShawwwHa As a Contractor you sound like a tough critic. However hire professionals with many positive reviews. In my honest opinion you sort of get what you pay for in the construction field.
If they give you work that achieves 70% of your goal after it's done it's a lil bit above half assed
He made me grateful I have a boss I actually like. We work well together and what I do helps his job immensely and I guess I get gratification out of this
Me too, I really like my boss ..which is rare...but I'm grateful for how he is!!👏👏
I’ve been telling EVERYBODY about this channel! George, you’re an ALL STAR! This entire video was LEGENDARY!!! 💪🏾
Loved this. And loved Arthur Brooks! What a gem of a dude. He's right about the four investments: Faith, Family, Friends, and Work. Thank you for this content!
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Just so everyone knows, that 2.85% mortgage isnt actually 2.85% because of Amortization. On a monthly basis, you might be paying 60-80%! Pay that mortgage off ASAP!
Unfortunately, only 10% know this.😢
What do you mean? How can I learn more about this? Are you saying if someone is considering whether to pay off their mortgage or use equity to reinvest in other investments such as stocks it's better to pay the mortgage off?
I bought a thoroughbred horse from a race track and I had so much fun. It is one of my favorite memories!
Found Dave Ramsey at 23, followed it, gazelle intense. I’m 37 now and life is amazing. Wife and kid with a lot of stability because of the decade of effort I put in before meeting her. Keep the motivation all!
I am 40. For many years, I focused on education, worked, and saved money. Now, I have saved ~$300K, but I can’t afford a home in San Jose, CA. 😂.
Educate yourself on other states politics, their tax laws, and societal behaviors so you can move.
Relocate. You got it ! 😂
Count your blessings!
The meek may inherit the earth...but they're starting with California 😂
@@portermatthew84 that’s funny 😆 🤣🤣
The Clownafornia ruler would like to bring UnHolyweird results to the rest of the the country. 🤡
Charity is morale and confidence booster, it instills your confidence how much your life is important for this world.
His dad tithing before taxes instead of after taxes “just in case” - I laughed out loud! Love it.
I always tithe before taxes because the Bible says “first fruits”. To me that is before taxes.
I started tithing after taxes. I was blessed immediately. 🙏🏿
Since then, I've continued to tithe that way. Still blessed to the point that I do give a little bit more each time, but have also been blessed to the point that I've been able to give more to causes I believe in.
“FIRE INSURANCE”🔥🔥🔥
I just love truly intelligent people, the ones with invaluable wisdom. Thank you professor!
What a Fantastic Interview George and Prof Brooks! Thank You!
I’ve never heard anyone talk about this, but when we were heavy in debt I got used to the idea of never paying down the debt, but living a new normal of just budgeting paying the required amount on time. Paying down debt hurt our budget.
This is a great episode. This guy is great!!
One of the most enlightening 30 minutes I’ve ever watched. I’m looking up this guy’s books rn
I hit a point where my retirement account will grow on its own and take care of me at that point, now I can shift those funds and travel more and enjoy my life more often NOW! No faith, just belief in myself.
People in America, they think they are entitled to do anything and spend money like water.
The way they living style is being controlled by money
.
The truth is there are people don't know what the priority and many people don't see what their circumstances
Which is so sad .
It is important for people to assess their situation and what the priority and manage money.
I hate seeing people who rely on others without them to earn their own.
This is why we are where we are now . ( so many debts, broke, homeless..)
I am an 40 yrs old immigrant who came to USA with nothing but started from beginning and I have own my house and great job.
If I did this, I believe anyone can do it. The matter of how much they are diligent and willing to do it.
I’m 10 minutes in and this is an unbelievable convo! Thank you!
I want to sit down and just talk to this man. He has so much to offer the world and is so intelligent.
"don't buy stuff" sounds good in general but I have a collection of retro videos games and I get happy every time I look at them. I still play my Gameboy Color almost every day. I have a complete in box copy of Rampage for the NES that I got my boyfriend as a gift and it's right up on the shelf with my rarest Wii U games (the Wii U is the console I collect for the most). If you have love for what you buy, it's not a waste.
You need to get out more
@@HughMorristheJoker I'm a borderline shut in, I can hardly go out on a good day.
One of my fave episodes so far ☺️
9:58 the more likely explanation is that people who make more money tend to give more away not the other way around
Dont give money so much power. You don't need all these worthless disposable modern things. You're falling into the trap of being a consumer, making everyone else rich.
Its true. I recently sold a bunch of stuff and my monthly allowance I used to buy stocks for investment for my future. It's an extra side investment that I'm hoping will grow huge the next 10-15 years. I could easily use this money to buy a lot of electronics and equipment that I always wanted like the laser projector for my game room that I've always wanted and a bunch of other things I want but I realized that saving and watching the progress over the years is way more enjoyable than the things I would have bought.
and you can buy all that stuff when you retire early and have the time to enjoy it. I want a projection system for my D&D game but it can wait.
Correlation is not causation. People who give more are already in financial privileges, it is not that once you start giving more you get rich
20:52 George, blink twice if you’re okay!! 😅
Brilliant interview, one of the best Ramsey videos, thank you George and Team and The Professor.
5 Things To Do With Money
1)Buy Things
2)Buy Experiences
3)Buy Time
4)Give It Away
5)Save It
I invest my money to make more money. I dont buy anything LOL.
@@philiptran617 Doesn't that mean you buy assets or pieces of companies? 😅
@@EmilyAllan didn’t he refer “buy stuffs” to buying things around you that later on not making you happy? I invest in assets that make me happy. 😄
Buy things. I buy stocks and ETFs 😁😎
@@philiptran617 investing is buying things 😂
Thank you for the guest. Awesome knowledge. I am about research and learning. At 67, I gained knowledge and applied past knowledge. As I age, I can finally share my knowledge, and it feels awesome.
Give this guy a spot on the Ramsey show. So much good information.
Wow!!! I understanding my husband about buying things when you dont have the money but also Dr. Mentioned about keeping memories with family. Im totally in. I started the budget and it is insane.....I get happy when my balance is getting lower. It does feel amazing
What a positive and amazing person - made my day ❤
Love this interview. Learned a lot. And kudos, George! I have seen a lot of interviews where the interviewer frequently interrupts but I love the way you let him talk and listen.
*Thank you😊 for this video, do you offer account management or have any recommendations?*
If you’re using a good financial advisor, it’s easier to earn from the market
VICTORIA K WALTER is exceptionally good, i believe you should give her a try
Her unique strength lies in her realistic approach which sets her apart from other brokers who tend to set unattainable targets and fail to deliver
There seems to be constant mention of
"Victoria K Walter" everywhere I turn. Are the accolades and reviews truly worth her?
I recently got into forex and I’m already marveling over the returns I'm making, I'm like " how the hell have i been sleeping on this
Well, we book hotel, car and fly using PayPal credit card 0% interest for 6 months in every vacation. We have the money to pay all up front, but borrowing at 0% help us invest and pay our student loan debt more aggressively.
Also, human physiology with money is “the more you make the more you spend”. Stop impressing ppl, nobody care what you drive what you wear, live bellow your mean, save money and invest. Yes, it’s scary to not be “normal”, learn, knowledge is power. Finally, be aware of a lot of these so called experts, run away from those with a suit and selling you a fast path to be rich.
Great video!
Car debt? I could pay cash but suddenly the car I wanted to replace my nine year old car was 0.99%. No brainer as my investment account is making 25%. Gave over $150K away last year. In this Go-Go market this is not a problem, even when the market goes down still helping others at the same rate is a happy feeling.
Incredibly well spoken. Loved this interview
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
We've all made mistakes at some point. You should consider financial planning
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
Do you mind sharing your financial planner ?
Leah Foster Alderman
You are most likely to find more info when you look her up.
Fantastic video, George! My wife and I watched it and are planning to share it with our children (ages 23, 19, and 15) very soon!
you've outdone yourself george. this is cray good.
This is so good. I hope you'll have more of this. Knowing more of psychology and money; data and money; make a really punchy call to action
7:45 idk man you can make a lot of memories on a couch
A man of Culture you are
2009 call of duty modern warfare 2.. alot of memories playing that game 😅
I have a lot of good memories on my couch, I have a lot of bad memories of the beach.
😂😂😂
😂
Exceptional video relaxant for most cultures. Bright people working at brightening THE Path WE are all on.. And you know it!
My problem is when I shop I think I’m helping that company & their employees 🤦🏻♀️ in reality I’m making them richer while I’m not…
Exactly! They'll be okay but will YOU be ok?
@@3Dimensional3 exactly 🤦🏻♀️
I think the exact same thing. Two great minds think alike 😊
Helping them, hurting you.
@candicemay
It's hard to tell yourself "no" when you had it rough growing up and now you have the money to do and get stuff you didn't have the chance to as a child
Hey George great chat with a knowledgeable guest, I thoroughly enjoyed it except for one thing. The sound bites, you don’t need them.
Sounds to me like the choice for the "beach vacation" simply showed how necessary the couch was... Ended up buying it anyways, resulting in "spending twice" 😅
Heh, my husband and I have been married 5 years and we still dont have proper furniture in our apartment, but we have a ton of experiences together that we didn't skimp on the budget on ...I feel validated 😊
Best video so far, sincerely. This was a great discussion.
I hire out grocery shopping. Yet I wash & detail my own vehicle.
I recently moved into my own duplex & hired out junk removal & eviction cleanup crews.
I spent $1k yet they saved me two weeks in time if I had to do it by myself.
Hire out. Save yourself time. Enjoy more experiences!
The clip of Dave right after 20:51 had me rolling on the floor