I just received my homeowner insurance renewal- what surprised me is the amount they are using to rebuild my house in the calculations… it’s almost $200,000 more that the highest listing price I could possibly get . Crazy
@@TwitX2007Increase your deductible. I am now at 10K deductible. Also if you put a new roof on, keep your paid receipt, and call them, you will get a lower rate.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
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.
Why people get so stirred up over data on inflation and the recession shocks me. People have always used investments to resist inflation, as it has always existed. For example, the return on the stock market consistently outpaces inflation. A person who invested $121k in October of last year reportedly increased their wealth by over $400k. I need suggestions that will yield a comparable benefit.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
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?
She's known as “Annette Christine Conte”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Today I saw 2 high end cars be repossessed and TOWED AWAY ON TOW TRUCKS 🚚. One repossessed a "2024 Mercedes" and another repossessed from a different family "2024 Lexus 2 door white it was beautiful. " I don't care how old your car is or how it looks "IF AUTO IS PAID OFF & IF IT RUNS PLEASE KEEP IT. These luxury repossessed automobiles (today alone) they either lost their jobs, or will now, they have no transportation. Never try keeping up w JONES it don't work & you can "NEVER BORROW YOUR WAY OUT OF DEBT." Times are MUCH worse than we know.
“Only when the tide goes out do you learn who's been swimming naked.” - Warren Buffett Yeah people learned nothing from Great Recession/housing crash. They had over 14 years to prepare. I learned many years before with no worries. I’m a point A to B type of guy with cars. Paid $15k cash in 2014 for a 2012 subcompact. Like new and runs fine. Now that I’m early retired I fill my tank twice a year now and in garage most of the time. Total annual expense is around $1400 a year. The idea of financing an expensive vehicle paying high monthly payments, insurance, taxes,,etc. for something that sits parked doing nothing for more than 20 hours a day never made sense to me.
the property taxes you pay year to year goes to pay for infrastructure for whatever town/city/county you live in, so I'm starting to form the opinion that this is a false statement. otherwise everything you use like public roads, cops, etc would come out of your own pocket.
I disagree the real estate taxes go towards schools and infrastructure. I am mortgage free my house insurance and taxes around $150 a month I'll take that over paying rent to a landlord
@@jusaverage6347I would rather live on a dirt road than pay property tax, thank you very much. My property is my property and property tax makes it your property.
There really isn’t a middle class anymore. When you are in debt beyond your ability to pay it off, you really have nothing. People are a lot poorer than they think.
Yes there are. Those are just a specific large population of people who are bad with finances,living beyond means,keeping up with the Joneses,spending money they don’t have,too many kids,too big of home,new cars,major debt,etc.. We are stealth millionaires where I live or the type from the book “The Millionaire Next Door”. Little to no mortgage,zero debt,live within means,emergency fund,save,invest,passive,etc… The ones that go on with everyday life not complaining or showing off.
Well said. The middle class has always been more of an illusion, and the ideal of middle class status a marketing strategy to convince people to live above their means with borrowed money and buy stuff they don't need and/or can't afford. Most of the people who fancy themselves middle class are actually poor people imitating the lifestyle of the rich.
@@patrickm6012 no I think he’s looking towards the fed lowering rates and making it easier for Wall Street to pump up stocks and when they pump up stocks companies have to make more money to meet the expectations of the investors so you pay more at the grocery store, etc.
I paid $109K for my little 2/1 and it looks like a little palace next to that ramshackle home. I get offers to buy my home constantly. I finally tell them $1,000,000 cash, as is firm. Of course It's done as sort of joking just to get them to leave me alone but maybe I should really be serious...lol!
If you about the one for 1.5M - is that house were in Stanford area - that would have been probably twice as much, maybe more, no problems with that. Thats not even about the house, it is all about the location
I retired about 20 years ago and my salary at that time was about 25 dollars an hour fast forward the same job is about 40 dollars an hour. I paid my house oft in five years and no payment on credit cards or car loans! But my wife and I are fugal and that’s the key to be financially secure.
the problem is that house has probably increased more than 66%. You can only be so frugal to withstand this bloodbath in this economy. I have assets but how can people afford 100% increases on things like home and car insurance when wages dont keep up? I really feel for them as they arnt just stupid but getting screwed even trying to do the right thing
@@BrianK-zz4fk You are totally right! But we all live our lives different and try to save in different ways. Our economy is not a guaranteed thing and we know that. If the car market depended on my wife and I it would sink like a rock in water! We bought a new car 14 years ago and it serves us well but allot of that is due proper preventative maintenance and that goes with our financial situations. I tell people I was born Into a family that went through the Great Depression and I know that it left it marks on me. I see rift roads ahead for the population of America but we will survive but maybe without Starbucks!
@@BrianK-zz4fk Those people you worried about were probably living beyond their means already and too late to be fugal about anything. I see where people money go and they can’t fool me. People I know better not complain about being broke and blaming everyone else but themselves because they know I will shut them down with their own bad spending habits and unnecessary debt. People are their own financial worse enemy. You must live in expensive area of the country. I don’t know anything about 100% increases here.. I’m not even frugal and always lived within means avoiding debt. My total household living expenses(utilities,property tax,food, Condo dues,insurance,maintenance,upkeep,etc.) is less than $1400/mo. and I live in Italian style condo with two car garage,secure gated community in an upper middle class zip code in Oklahoma Retired in my 40s and even cut my retirement income in half to $45k because it was too much money. No crazy increases happening here. Even gas is $2.56/gal currently.
In 2007, my wife, now ex-wife, wanted a $500,000 house. Her reasoning was, everyone is doing it. I said no way in hell am I buying a $500,000 dollar house. I'm so glad that I stuck to my guns.
When my husband I first were together, we rented a place from the accountant at his work. She only charged us $400/month. So we saved when we lived there and it made a huge difference when we actually needed it. We just saved everything we got and spent money on only the bare essentials. It's absolutely the better way to go. You have to put in the time to build up. It's not glamourous or fun but totally pays off when you are ready to do something. Currently we live well below our means and are debt free. Don't feel pressured to do anything that can ruin your future. Plan everything out as much as possible. I completely understand wanting to do something now but it's really not worth it.
me it was get a better job, sears was 50k, left and did inhome sales over 170k a year helped my portfolio to grow i fed it and never touch it. Plus apt was 850 with portfolio investment pay 300k or more a year mostly reinvested. 1st million tough the next few way easier. IT WAS A PLAN..
in 2016 I bought a mobile home on 1 acre 3-5 minutes from the states biggest lake, 8 miles from a small city & 12 miles from a medium size city, great location & I paid $10k for the whole property & mobile home, I paid cash & have never made a vehicle payment in my life so I never carried full coverage auto ins. Monthly bills are $400 tops & thats with a $200 xfinity bill & my cell phone bill. My property tax is $115 a year & I don;t carry insurance on it. There is cheap living out there if you really want to live cheap!
You can live in a small condo with 2 swimming pools right on the beach in Thailand for $375 mo & in some even get free internet & no need for a car, just a scooter that costs $2k & eat street & night market food for $3 per meal no problem, $10 month unlimited data cell phone service. If you have to pay for home internet its like $15 month, electric bill maybe $75-$80 in the hot months. You can live in the US that cheap but not on a beach thats for sure
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
It surprises me why everybody gets really worked up about recession and inflation data. Inflation has always existed, and people have been using investments to beat the inflation. The stock market return, for example, always beats inflation. I heard of someone who invested $121k last October, and has grown the portfolio by more than $400k. I need recommendations that can give me similar return.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
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?
People have always lived in cars and more during downturns. Great time for people with cash since so many learned nothing from Great Recession/housing crash and completely ignored 2020 crisis.
@@blackworldtraveler3711 I live in my van now for ten years this has been going on since 2008 not 2020 get your facts right. This been happening since Obama went in office.
It's about time to start seeing the commercials on TV for companies trying to buy your old gold jewelry. If you were paying attention in 2010-2012 you'll know exactly what I'm talking about, go back and see what the price of gold did back then.
I almost bought a house for 35% of my income. I chose to stay put. Living in a rental for 11% of my income. I think it’s time I wait this thing out and stack cash.
I have cash to do a full home remodeling EARLY next year but I’m accumulating so much interest monthly at 2.90% and 4.95% I’m just going to sit back wait a while.
Yeah i'm in about the same spot. My wife and I WANT more house, but we've got golden handcuffs saving 5-7k a month with 15% going to our mortgage / housing costs. We decided in the short term to just save for a few years such that we can get our COL down to a similar level in a bigger nicer house when the time feels right or when that WANT becomes more of a NEED.
I know someone who just signed a $2200 per month rental agreement, moved into the apartment just to discover that it was infested with German roaches. They hadn't even unpacked yet and saw like 20 roaches already. How much $$ does it take to get a decent apartment these days?
I'm living in a shithole until rents come back to SANTY where I am. To get an apartment that meets my standards and with my very healthy salary I'm in total shock that it I want more than 800 sq ft, we are talking $2500-3000. Same as my previous mortgage in an Expensive city for a 3300 sq ft house. Insanity.
I just looked at a bare bones one bedroom apartment. $675 same issue.I told the real estate agent and she said she didn’t know what Pest control is I said obviously
NOT JUST AMERICA...EUROPE...ASTRAILIA...ETC ETC ..CRYING THE BLUES ON INSANE RENTS AND PRICES...UT IS THE ACHILLES HEEL OF THE MODERN WORLD...THE WEST IS ON THE EDGE OF A CLIFF...IN A MERCEDES...
What gets me are these commercials that show how to turn the equity in your house into a Credit-Card. I don't know what the rate on it is, but it looks like a very simple way to tap mortgage equity and spend, spend, spend.
We live in a large nice subsivion that has 2,000 homes suburb of Atlanta. We’ve seen a TON of houses go up for sale the last few weeks and for rent. People also getting evicted. Sad times.
Those big urban homes will be ghetto or section 8 rentals, seen some in neighborhoods here in texas, low class renters that trashvout the yards snd make the otherwise nice neighborhood that was z,!😮
98 Chevy paid for and a bicycle House was paid for over 30 years ago. Got fruit trees, a veggie garden and farms all around me. Deer and rabbit run through the yard often. Got a shotgun. Got clothes in storage from bargain buy clearance racks and some that are decades old. I didn't even buy a lot of those.
@@googleuser868good stuff. I was listening to a podcast yesterday and the man being interviewed talked about wildlife during the depression and mentioned how fast the deer population just disappeared. It actually made the newspaper a few years later when a deer was spotted in the local area in the wild. I thought that was interesting, made sense.
It was in the 1980s that they started privatizing all the commons around the country because “freedom”. In California, it was 1990s that PG&E was deregulated. It’s primary purpose became profit for the share holders, not affordability nor safety.
people going in debt to buy the necessities of life, FOOD. why is food so expensive in a country this hug. a country that can produce its own crops, grains, fruits, nuts, etc etc…. in masses, feed its citizens and probably other nations 🤔
We got solar and batteries. PG&E bill when from $400 to $10, the connection charge. We get about $300/year from them for selling them excess power during power shortages. Solar and battery should be paid off in 6-7 years after installation.
@@jimcrawford3185 There's always talk like this during economic downturns. Stupid people suffered terribly because of this "doom spending" during Great Recession/housing crash.
The funny part is the people like myself who messed their credit up when they were young are actually doing better than those who didn't. I always say "not paying my cell phone bill when I was 19 was the best thing I ever did" ... They wouldn't lend me money for anything so I learned to buy what I could afford. Now I'm an adult and my credit is spotless and I still never use it.. meanwhile, everyone else is in the red and have zero dollars in the bank...
Same here! Messed up in my 20’s and then got in the habit of buying things cash as much as possible after that. And when I did need a car loan it wasn’t very much borrowed. Driving an 11 year-old car that’s paid off and it’s great!!
Even the govt is having a problem paying the bills. In 2024, ALL the personal income tax collected will go toward paying interest on the $34 trillion debt. The national debt is increased by $1 trillion dollars every 100 days ! How long can this go on ??!?!?!
well, that was both predicted (math) and planned. it's not a failure or Incompetence, it's intentional destruction of the US since the Federal Reserve was unconstitutionally founded in 1913. Before that we had 0 property or income tax. For starters.
For our single family house electric, gas, trash and sewer was $953 last month $888 this month. Be greatful for your tiny utility bills everyone because this is your future.
Not concerned about expenses like that. That was your choice to pay bills from the year 2050. My electric,gas,trash,water,and sewer was $160 last month and my electric bill already dropped $30 from summer high of $93 now that summer heat is over in Oklahoma . Actually my entire household monthly living expenses (including condo dues, property tax,and insurance)are less than that.
@@blackworldtraveler3711 wow, actually I grew up here! And it’s not just easy to get up and move, we are working on moving to Alabama where things are cheaper, but can’t do it yet
As I was watching this video I opened some mail... mortgage bill up 15% from last year due to increased taxes and insurance. The funny thing is I felt like I got away easy.
Michael, I imagine that you have probably helped a lot of your viewers, simply by telling and explaining how bad things are. And because of your advice, you might have stopped a lot of people from going for that big ticket item, like a new car, or a new home. And you probably saved their caboose.!
Thanks, Michael! My favorite old times movie about home ownership is “The Money Pit”. I think Cher was in it. Whenever I have to repair my house I do the voice of the plumber. Cracks up my wife every time.
I tried being a landlord 45 years ago in California. My tenant was a young family of 5 in my 1 bedroom house. They tried to extort me for cash when I sold the house to get out from under their constant late payments.
I retired at 58 (I am now 64) with almost 7 figures in all retirement accounts,.....and NEVER made more than 50k a year as a propane driver. I always lived well below my means,....and saved consistently. I couldn't even imagine what it would have been like to make 70,80, or 100k a year.
As you say, you said it over a year ago. All that changed is one,of the many shock waves that are coming , hit the shore. What’s done is done, lots of waves coming in faster now! Stay strong ! Trust your eyes, and keep them open.
My insurance policy jumped from $3200 to $5200 (+$167/mo via Citizens). You can bet that I will be passing that $167/ mo increase STRAIGHT THROUGH to my renters. Renters are not immune from increases in prop tax and insurance.
Good evening Michael, excellent content and your spot on.... too many folks bury their head in the sand and fail to manage expenses. When they get hit with reality they simply blame someone else. Keep up the hard work you do preparing worthwhile information.
Don’t forget that renters have to pay electric bills too. One of my tenants in a 980 square foot unit said her electric bill was $300 last month. I recently replaced the HVAC on the building so presumably it is an energy efficient system.
Renters often pay for the home insurance because it’s baked into the rent. That’s what I do for my rental property. If it goes up, it means I will ask for more rent when the lease renews or with new tenants.
At times like this!?...I've always remember my buddy who is the father of my EX employer taught me the following quote: "It's never how much you've earned but on how much on You Saved and this is the key to Financial Survival in any situation in this life and this mindset determines if you live comfortably or you starve to death!" Thanks a million @ John Antonelli who already passed on 11 years ago. Rest In Peace @ John Antonelli.
I just received my PH&E bill via email this morning: $142. Last year I was averaging about $45-$50. I have upgraded my computer with 3 32” screens, but I only run it about 8 hours a day and shut it down at night. 1-BR apartment.
They really can’t do anything to you as long as you make an effort to pay. Send what you can but don’t worry about it too much. If you can only afford $5 a month so be it.
Food comes first. See if you can get those bills lowered. Usually you can work with doctors/hospitals to get those bills down to a better and more workable amount. They would rather get something than nothing, so give it a try.
We were ok until I had a sudden health issue (afib) and ended up in two ambulances, three ER visits, cardiologist and over night stay in the hospital without any health insurance . Not good. Pray for us y’all. It’s hard times. God kept me alive for a reason so I’m not going to stress over these bills. ❤️
Many hospitals have a dept in their finance area..they can possibly remove a large part of bill..I think it's called charitable or something along those line. You have to ask and put your specifics and request in writing...multiple times.
@@APRIL_boymom Per what Maryklys1430 comments below: The Methodist Hospital in my locale in 2011 (before Obamacare) had a faith-based affiliate charity organization that offered an application packet based on a sliding scale of patient's income to qualify for coverage assistance. In a timely manner did they process my application, and I qualified for 100% coverage. I paid nothing to any medical parties involved, including ambulance, labs, hospital stay, etc etc. To this day I continue to praise my Lord Jehovah Jireh for His wonder-working! I pray He also opens this door for you to walk through, Miss April Boymom.
I live in Miami and asked one of my coworkers that house hacks his home how much his insurance increased. I forgot the number but he said he doesn’t know how he’s going to pay it - he has been living there for about 7 years. 😬
BINGO sir! You nailed it. Consumerism & materialism, some think they need a bunch of dumb crap to be happy but all they do is enslave themselves... for crap they don't even really need. George Carlin use to talk about this. Keeping up with the Jones is not the way unless you like spending 3/4's of your waking hours working & commuting to & from work. I hear people crying about being broke yet take 2 vacations a year & get their family of 4 the latest greatest iphone every year..lol. They are broke by choice!
I live in South Dakota and my homeowners insurance also jumped by like 30% YOY. I called around to get quotes and no one can even come close to what I'm currently paying. I had one agent tell me that South Dakota is one of the worst states for insurance companies (they are paying out more than what they are getting for premiums) since we have had a few bad years apparently. I have never had a claim. I've been in my house for over 7 years.
Finally hit the 1M in net worth and if you met us you would Never believe it! One 15 year old car, 1 small 3-2 🏠 house and we rarely buy new fancy clothes. The only thing we splurge on is vacations and helping our kids. We live wayyyy beneath our means and all our neighbors are bitching at us wondering how we can afford all these vacations. Simple, we don't have 2 750.00 a month car payments or a mortgage. Zero debt is the key.🔑
🌴🌴🌴 Hi 👋🏼 Mike and LISI 👋🏼👋🏼👋🏼❗️ I’m getting so tired of this world 🌎 that we’re living in. I’m so very glad to be retired and scared about my future regarding work status. Thank you Kids 😊 Have a great evening, Carlos
Retail has been dying for years and it wasn't because of online shopping either! Once the cards are maxed you are not shopping with credit at all and is the main reason all these businesses are going belly up! An economy using debt to prop itself up is bound to fail eventually!
Why does the government react to poor or manipulated data about employment? That can't be good for policy, unless it was intentional to favor corporate interests.
Just got my escrow statement for the following 12 months. A 19.95% increase. They're doing the same thing to us in Colorado regarding electricity. My first bill in this house in 1991 was 12 dollars and some change. Now, it's in the $70-$90 range not using A/C. The way they do us is fees and assessments. They like to tell us we have some of the lowest rates in the nation. However, the fees and assessments are more than double the actual amount determined by the rate. In summer, we're up to about .27 KwH in the afternoons. You know, when it's approaching 100 degrees.
Not one rate increase in utilities, home owners insurance or vehicle insurance. No increases in property taxes ($575 for 7 acres, house, workshop, tractor barn) because our county managers don't think public employees should retire wealthy. N. Arkansas.
The real issue is that people are living way above their means. They will learn when they lose everything because jobs are no longer a safety net when most tech industries alone are trimming the fat and firing half their employees.
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $150K-worth stock portfolio from decline, but haven't figured which way to go.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
How can one participate in this? I sincerely aspire to establish a secure financial future and I'm eager to see it come to fruition. Who is the driving force behind your success?
Yes but during the winter, isn't your heating bill outrageous relatives live in Virginia, and pay up the ass for their heating oil there in lynchburg!😮
I am retired & been through recessions in the past while I was working. I am not worried about any in the future. I invested while I was working. I have a house free and clear & no other debt.
Utilities we're reasonable until Enron came to California. They backed congress-persons who helped de-regulate utilities, and in the process they blocked PG&E from building any new plants. When the system crashed with blackouts, Enron would buy cheap electricity from Oregon, then charge Cali residents a fortune. They billed themselves as an energy company but never produced a single kilowatt.
Relationships ARE ENDING OVER THIS HORRIBLE Economy... ua-cam.com/video/rU6GSM_WRXM/v-deo.html
💛😎Really soon, 5 dollar make you holla Ladies. Market saturation =
Good for you.
Your tone is better now.
Keep this microphone style.
I just received my homeowner insurance renewal- what surprised me is the amount they are using to rebuild my house in the calculations… it’s almost $200,000 more that the highest listing price I could possibly get . Crazy
@@TwitX2007Increase your deductible. I am now at 10K deductible. Also if you put a new roof on, keep your paid receipt, and call them, you will get a lower rate.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thank you for the advice. When you say financial advisor, are you talking about hedge funds? And how do I get in touch with one?
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
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.
Why people get so stirred up over data on inflation and the recession shocks me. People have always used investments to resist inflation, as it has always existed. For example, the return on the stock market consistently outpaces inflation. A person who invested $121k in October of last year reportedly increased their wealth by over $400k. I need suggestions that will yield a comparable benefit.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
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?
She's known as “Annette Christine Conte”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
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.
I’ve always lived beneath my means. It works. I’m not rich but I’ve never been homeless nor have I ever claimed bankruptcy.
almost impossible to do in CA. unless you have your house paid off. Thank politicians.
I've been living beneath my means for over a decade now and it does work
It's not over yet
@@Opus4p It's suppose to be over? Civil servant work is infinite.
@@Opus4p True. Hope I didn’t jinx myself!
Today I saw 2 high end cars be repossessed and TOWED AWAY ON TOW TRUCKS 🚚. One repossessed a "2024 Mercedes" and another repossessed from a different family "2024 Lexus 2 door white it was beautiful. " I don't care how old your car is or how it looks "IF AUTO IS PAID OFF & IF IT RUNS PLEASE KEEP IT. These luxury repossessed automobiles (today alone) they either lost their jobs, or will now, they have no transportation. Never try keeping up w JONES it don't work & you can "NEVER BORROW YOUR WAY OUT OF DEBT." Times are MUCH worse than we know.
“Only when the tide goes out do you learn who's been swimming naked.”
- Warren Buffett
Yeah people learned nothing from Great Recession/housing crash. They had over 14 years to prepare.
I learned many years before with no worries.
I’m a point A to B type of guy with cars. Paid $15k cash in 2014 for a 2012 subcompact. Like new and runs fine. Now that I’m early retired I fill my tank twice a year now and in garage most of the time. Total annual expense is around $1400 a year.
The idea of financing an expensive vehicle paying high monthly payments, insurance, taxes,,etc. for something that sits parked doing nothing for more than 20 hours a day never made sense to me.
Too true! I almost made mistakes by buying a new car while mine is old and still runs, I did the right thing!
In America you never own a home. You rent it from the government.
You don't even own the money you worked for...welcome to land of the s l ave
the property taxes you pay year to year goes to pay for infrastructure for whatever town/city/county you live in, so I'm starting to form the opinion that this is a false statement. otherwise everything you use like public roads, cops, etc would come out of your own pocket.
@@jusaverage6347it already does come out of our pockets, well paychecks, with taxes
I disagree the real estate taxes go towards schools and infrastructure. I am mortgage free my house insurance and taxes around $150 a month I'll take that over paying rent to a landlord
@@jusaverage6347I would rather live on a dirt road than pay property tax, thank you very much. My property is my property and property tax makes it your property.
There really isn’t a middle class anymore. When you are in debt beyond your ability to pay it off, you really have nothing. People are a lot poorer than they think.
Yes there are.
Those are just a specific large population of people who are bad with finances,living beyond means,keeping up with the Joneses,spending money they don’t have,too many kids,too big of home,new cars,major debt,etc..
We are stealth millionaires where I live or the type from the book “The Millionaire Next Door”.
Little to no mortgage,zero debt,live within means,emergency fund,save,invest,passive,etc…
The ones that go on with everyday life not complaining or showing off.
When you're in that level of debt, you're on the path to bankruptcy
@@MACD69
That’s the broke half of middle class people only see.
The rest are doing fine and mostly debt free stealth millionaires like myself.
Well said. The middle class has always been more of an illusion, and the ideal of middle class status a marketing strategy to convince people to live above their means with borrowed money and buy stuff they don't need and/or can't afford. Most of the people who fancy themselves middle class are actually poor people imitating the lifestyle of the rich.
Why would you take on debt you couldn’t afford to pay back?
I dont think Wall Street cares about anything involving us.
Do you understand what Wall Street does? It is the free market. What is your answer, Socialism?
@@patrickm6012 no I think he’s looking towards the fed lowering rates and making it easier for Wall Street to pump up stocks and when they pump up stocks companies have to make more money to meet the expectations of the investors so you pay more at the grocery store, etc.
It's not Wall Street. Is fed policy driven by Biden spending and money printing. M2 money supply was increased by over 20% since '21.
Why should they?? Not their job.!
@@patrickm6012what country did socialism work?
The people in charge can gaslight the population into thinking we're better off but eventually the wizard of oz curtain will be pulled back 😅
The curtain is made of lead.
No, of private equity
The Queen Wizard of Cackles
That's exactly what is going on, it's behind the curtain..
Amen!
Paying that much for that tiny house is insane
Well the folks at the top did it😒
I paid $109K for my little 2/1 and it looks like a little palace next to that ramshackle home. I get offers to buy my home constantly. I finally tell them $1,000,000 cash, as is firm. Of course It's done as sort of joking just to get them to leave me alone but maybe I should really be serious...lol!
Smaller than the Simpsons house
Crazy. 1.5M for that little house. Why do that when for 1.5m you could get a huge house on a few acres in alot of areas of the county.
If you about the one for 1.5M - is that house were in Stanford area - that would have been probably twice as much, maybe more, no problems with that. Thats not even about the house, it is all about the location
I keep my head above water by living in a little house and driving a car that is now 14 years old.
Same here. On a half-pension. I lead a very frugal life.
Low dollar lifestyle is much less stressful.
@@googleuser868You are right, having less riches is more peaceful.
@@slomocalzone that great!
My car has 180k miles but it's paid for.😊
I retired about 20 years ago and my salary at that time was about 25 dollars an hour fast forward the same job is about 40 dollars an hour. I paid my house oft in five years and no payment on credit cards or car loans! But my wife and I are fugal and that’s the key to be financially secure.
the problem is that house has probably increased more than 66%. You can only be so frugal to withstand this bloodbath in this economy. I have assets but how can people afford 100% increases on things like home and car insurance when wages dont keep up? I really feel for them as they arnt just stupid but getting screwed even trying to do the right thing
@@BrianK-zz4fk You are totally right! But we all live our lives different and try to save in different ways. Our economy is not a guaranteed thing and we know that. If the car market depended on my wife and I it would sink like a rock in water! We bought a new car 14 years ago and it serves us well but allot of that is due proper preventative maintenance and that goes with our financial situations. I tell people I was born
Into a family that went through the Great Depression and I know that it left it marks on me. I see rift roads ahead for the population of America but we will survive but maybe without Starbucks!
@@BrianK-zz4fk
Those people you worried about were probably living beyond their means already and too late to be fugal about anything. I see where people money go and they can’t fool me. People I know better not complain about being broke and blaming everyone else but themselves because they know I will shut them down with their own bad spending habits and unnecessary debt.
People are their own financial worse enemy.
You must live in expensive area of the country.
I don’t know anything about 100% increases here.. I’m not even frugal and always lived within means avoiding debt. My total household living expenses(utilities,property tax,food, Condo dues,insurance,maintenance,upkeep,etc.) is less than $1400/mo. and I live in Italian style condo with two car garage,secure gated community in an upper middle class zip code in Oklahoma
Retired in my 40s and even cut my retirement income in half to $45k because it was too much money.
No crazy increases happening here.
Even gas is $2.56/gal currently.
@@BrianK-zz4fk
Lack of planning
I sold my car. Gas price had gone up 50%, insurance went up by 20%. That doesnt bother me anymore
Say it with me: “we 👏 are 👏 already 👏 in 👏 a 👏 recession”
Nah. More like a depression son. Wake up!
We are going towards a second great depression, or at least the US.
Maybe another depression
In 2007, my wife, now ex-wife, wanted a $500,000 house. Her reasoning was, everyone is doing it. I said no way in hell am I buying a $500,000 dollar house. I'm so glad that I stuck to my guns.
Didn’t she trade you in for someone who got her that 1/2 million dollar house?
You'd prob 3/4 own that house now and it would be worth $1.2M+.
@@TheSuperdodgy and when the market crashes...
@@NrthrnKnght People have been saying that for 5 years.
@@MavRick69 who cares she probably will be in debt the rest of her life..he will be living the good life
Once you dig a debt hole ,it can soon become a bottomless pit unless you get control of it very quickly.
I had one guy barter an hvac repair for an automotive repair. I happily accepted as my furnace is old as hell.
you may regret that deal if he drags in a hellcat with a hemi tick
I do barter/ trade as well.
@@teresawort9124 Well can you clean and cook? :D
When my husband I first were together, we rented a place from the accountant at his work. She only charged us $400/month. So we saved when we lived there and it made a huge difference when we actually needed it. We just saved everything we got and spent money on only the bare essentials. It's absolutely the better way to go. You have to put in the time to build up. It's not glamourous or fun but totally pays off when you are ready to do something.
Currently we live well below our means and are debt free. Don't feel pressured to do anything that can ruin your future. Plan everything out as much as possible. I completely understand wanting to do something now but it's really not worth it.
The more you owe the less freedom you have.
Sound advice.💪🏼💯
me it was get a better job, sears was 50k, left and did inhome sales over 170k a year helped my portfolio to grow i fed it and never touch it. Plus apt was 850 with portfolio investment pay 300k or more a year mostly reinvested. 1st million tough the next few way easier. IT WAS A PLAN..
What year or decade was this? Sounds like a while back. The minimum number is $1000-1500 today, btw
This night mare gets worse. I pay 375 a month for a studio with electric and water included. I have nothing to complain about. No car payment
That’s whats up
I pay $390mo for a 1 bedroom and have been here since 2012. My Rav 4 is paid off since 11/2023 1 year and 4 mo early, no cable, internet only
in 2016 I bought a mobile home on 1 acre 3-5 minutes from the states biggest lake, 8 miles from a small city & 12 miles from a medium size city, great location & I paid $10k for the whole property & mobile home, I paid cash & have never made a vehicle payment in my life so I never carried full coverage auto ins. Monthly bills are $400 tops & thats with a $200 xfinity bill & my cell phone bill. My property tax is $115 a year & I don;t carry insurance on it. There is cheap living out there if you really want to live cheap!
You can live in a small condo with 2 swimming pools right on the beach in Thailand for $375 mo & in some even get free internet & no need for a car, just a scooter that costs $2k & eat street & night market food for $3 per meal no problem, $10 month unlimited data cell phone service. If you have to pay for home internet its like $15 month, electric bill maybe $75-$80 in the hot months. You can live in the US that cheap but not on a beach thats for sure
Y’all are so lucky!! Not renting but around here it’s $1200 for a studio or crappy 1 bedroom. 🤷🏼♀️
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
gold silver and btc
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
My friend and I used to say we were downscale. Thrift store shopping, 2 for 1 meals, matinees...
It surprises me why everybody gets really worked up about recession and inflation data. Inflation has always existed, and people have been using investments to beat the inflation. The stock market return, for example, always beats inflation. I heard of someone who invested $121k last October, and has grown the portfolio by more than $400k. I need recommendations that can give me similar return.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
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?
She's known as “Rebecca Nassar Dunne”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
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.
People r living out their cars. Recession is here and 100k jobs r gone, cars r been repo, things don’t look good.
Van lifers are exploding everywhere
People have always lived in cars and more during downturns.
Great time for people with cash since so many learned nothing from Great Recession/housing crash and completely ignored 2020 crisis.
the layoffs in my industry ALONE last yr were at least 500,000. There have been at least 1 million jobs lost and not backfilled. Recently.
@@blackworldtraveler3711 I live in my van now for ten years this has been going on since 2008 not 2020 get your facts right. This been happening since Obama went in office.
It's about time to start seeing the commercials on TV for companies trying to buy your old gold jewelry. If you were paying attention in 2010-2012 you'll know exactly what I'm talking about, go back and see what the price of gold did back then.
I almost bought a house for 35% of my income. I chose to stay put. Living in a rental for 11% of my income. I think it’s time I wait this thing out and stack cash.
You dodged a bullet TG
I have cash to do a full home remodeling EARLY next year but I’m accumulating so much interest monthly at 2.90% and 4.95% I’m just going to sit back wait a while.
Yeah i'm in about the same spot. My wife and I WANT more house, but we've got golden handcuffs saving 5-7k a month with 15% going to our mortgage / housing costs.
We decided in the short term to just save for a few years such that we can get our COL down to a similar level in a bigger nicer house when the time feels right or when that WANT becomes more of a NEED.
I know someone who just signed a $2200 per month rental agreement, moved into the apartment just to discover that it was infested with German roaches. They hadn't even unpacked yet and saw like 20 roaches already. How much $$ does it take to get a decent apartment these days?
I'm living in a shithole until rents come back to SANTY where I am. To get an apartment that meets my standards and with my very healthy salary I'm in total shock that it I want more than 800 sq ft, we are talking $2500-3000. Same as my previous mortgage in an Expensive city for a 3300 sq ft house. Insanity.
I just looked at a bare bones one bedroom apartment. $675 same issue.I told the real estate agent and she said she didn’t know what Pest control is I said obviously
NOT JUST AMERICA...EUROPE...ASTRAILIA...ETC ETC ..CRYING THE BLUES ON INSANE RENTS AND PRICES...UT IS THE ACHILLES HEEL OF THE MODERN WORLD...THE WEST IS ON THE EDGE OF A CLIFF...IN A MERCEDES...
What gets me are these commercials that show how to turn the equity in your house into a Credit-Card. I don't know what the rate on it is, but it looks like a very simple way to tap mortgage equity and spend, spend, spend.
We live in a large nice subsivion that has 2,000 homes suburb of Atlanta. We’ve seen a TON of houses go up for sale the last few weeks and for rent. People also getting evicted. Sad times.
Those big urban homes will be ghetto or section 8 rentals, seen some in neighborhoods here in texas, low class renters that trashvout the yards snd make the otherwise nice neighborhood that was z,!😮
Yes you don’t see it on mainstream media about people behind in their bills.
That would make the democrats look bad
That would make the democrats look bad
That would make the dem's look bad
You must have transportation.
You must have housing.
You must have food.
But clothes are optional
98 Chevy paid for and a bicycle
House was paid for over 30 years ago.
Got fruit trees, a veggie garden and farms all around me. Deer and rabbit run through the yard often. Got a shotgun.
Got clothes in storage from bargain buy clearance racks and some that are decades old. I didn't even buy a lot of those.
Not true because you don’t need housing. 😂
@@googleuser868good stuff. I was listening to a podcast yesterday and the man being interviewed talked about wildlife during the depression and mentioned how fast the deer population just disappeared. It actually made the newspaper a few years later when a deer was spotted in the local area in the wild. I thought that was interesting, made sense.
It was in the 1980s that they started privatizing all the commons around the country because “freedom”. In California, it was 1990s that PG&E was deregulated. It’s primary purpose became profit for the share holders, not affordability nor safety.
Enron.
people going in debt to buy the necessities of life, FOOD. why is food so expensive in a country this hug. a country that can produce its own crops, grains, fruits, nuts, etc etc…. in masses, feed its citizens and probably other nations 🤔
I’m boycotting PG&E- my house is illuminated by candles…
I go to yard sales and estate sales and buy the old fashion oil lamps/ with wicks...have about 8 now..watch how good a move that will be in the future
We got solar and batteries. PG&E bill when from $400 to $10, the connection charge. We get about $300/year from them for selling them excess power during power shortages. Solar and battery should be paid off in 6-7 years after installation.
PLEASE DONT BURN HOUSE DOWN. HOW U GETTING HOT WATER?? Lolol prayers😮
@@CreolekitchenwisdomAmen, candles are an accident wanting to happen, and kerosine smells and stains.
If you need to put things on a credit card just to live then you are living way above your means…are people really this stupid?!?!
I Know right! Sadly they are, everyone wants to live above their means on credit & then cry about it later
Uhh... yes
"Doom spending"
@@jimcrawford3185
There's always talk like this during economic downturns.
Stupid people suffered terribly because of this "doom spending" during Great Recession/housing crash.
Yes
@@maureenberendonk4662 Yes. They are.
Pacific Heights was a crazy movie. Definetly makes someone think twice about being a landlord. Thanks Michael and Happy Monday!
I hate the roaches part, I always cover my eyes😂
Great movie. It plays out in real time here in SW Florida on a regular basis.
The funny part is the people like myself who messed their credit up when they were young are actually doing better than those who didn't. I always say "not paying my cell phone bill when I was 19 was the best thing I ever did" ... They wouldn't lend me money for anything so I learned to buy what I could afford. Now I'm an adult and my credit is spotless and I still never use it.. meanwhile, everyone else is in the red and have zero dollars in the bank...
Same here! Messed up in my 20’s and then got in the habit of buying things cash as much as possible after that. And when I did need a car loan it wasn’t very much borrowed. Driving an 11 year-old car that’s paid off and it’s great!!
To get along with the recession you need to get out of debt!
To get along with the recession you need to find another planet to live on
Even the govt is having a problem paying the bills. In 2024, ALL the personal income tax collected will go toward paying interest on the $34 trillion debt.
The national debt is increased by $1 trillion dollars every 100 days ! How long can this go on ??!?!?!
I wish EVERYONE would stop.
I only focus on things in life I can control.
I’m debt free and have no problem paying my bills.
well, that was both predicted (math) and planned. it's not a failure or Incompetence, it's intentional destruction of the US since the Federal Reserve was unconstitutionally founded in 1913. Before that we had 0 property or income tax. For starters.
@@blackworldtraveler3711I’m at this point as well. Once you ignore the hype and propaganda, concentrating on priorities becomes easy.
And yet in every jobs parking lots are Tesla's, Jeep wagoneers (new), Ford expeditions, Benz, jag trucks etc.
SOMETHING SMELLS FISHY IN DENMARK...EVERYWHERE
But the San Francisco Bay Area is a cesspool why would anyone want to live here??
Ask Michael…it’s ridiculously beautiful
For our single family house electric, gas, trash and sewer was $953 last month $888 this month. Be greatful for your tiny utility bills everyone because this is your future.
Not concerned about expenses like that. That was your choice to pay bills from the year 2050.
My electric,gas,trash,water,and sewer was $160 last month and my electric bill already dropped $30 from summer high of $93 now that summer heat is over in Oklahoma .
Actually my entire household monthly living expenses (including condo dues, property tax,and insurance)are less than that.
@@blackworldtraveler3711how is that their choice??? We are in Florida, normal size house and our electric bill is $650 a month
@@amandabrau-v6w
You chose to live there and that’s what it cost.
@@blackworldtraveler3711 wow, actually I grew up here! And it’s not just easy to get up and move, we are working on moving to Alabama where things are cheaper, but can’t do it yet
@@amandabrau-v6w You gotta move north where it's not so hot and humid.
Insurance and taxes killed the consumer.
In some parts of Missouri, there is a housing shortage and some ppl are STILL paying over asking price for homes. Unbelievable!
Only in misery lol
Cheaper areas are still going to sell...for now
The insurance companies are killing their own business.
As I was watching this video I opened some mail... mortgage bill up 15% from last year due to increased taxes and insurance. The funny thing is I felt like I got away easy.
Michael you got to check out Naples Florida. Homes sold for 200-300k and now they want 700- 1m for homes that are 2/2 and built on the 50s
Michael, I imagine that you have probably helped a lot of your viewers, simply by telling and explaining how bad things are. And because of your advice, you might have stopped a lot of people from going for that big ticket item, like a new car, or a new home. And you probably saved their caboose.!
Debt is stress, stress = misery, no thank you.
Thanks, Michael! My favorite old times movie about home ownership is “The Money Pit”. I think Cher was in it.
Whenever I have to repair my house I do the voice of the plumber. Cracks up my wife every time.
Shelly Long and Tom Hanks
@@byoung5520 , what year was that?
@@lordinquis8r679 March 26,1986……..I cheated n asked Alexa
Sammy Davis jr singing “I gotta be me”
I have that movie on vhs. Think it's worth something since Cher is on it?
Housing inflation makes up 40% of CPI. It has not gone down. It’s stupid to drop rates!
Southern California here. In August my electric bill was $900. A/C ran every day.
get a hillbilly 6 speed swamp cooler, same as running a fan. running it 24-7 will run you around 50 a month.
Insulation, infiltration, ventilation. Learn about it. Do it. Save.
It was really hot in August. Hopefully it is much cooler this month.
I would never pay that for that shack
Those who bought it was just to store money. When rates go down they will flip.
I tried being a landlord 45 years ago in California. My tenant was a young family of 5 in my 1 bedroom house. They tried to extort me for cash when I sold the house to get out from under their constant late payments.
I retired at 58 (I am now 64) with almost 7 figures in all retirement accounts,.....and NEVER made more than 50k a year as a propane driver. I always lived well below my means,....and saved consistently. I couldn't even imagine what it would have been like to make 70,80, or 100k a year.
300% gain in 3 years will do that. Still doesn't make it right.
Booooooooooommmmmeeerrrrr 60k a year back in your day is like 110k now
congrads, enjoy your retirment, i bet you worked hard to enjoy it
@@nathanabraham8762 But,......I never made more than 50.
@@zippo32123 If I could do it,....anyone can.
As you say, you said it over a year ago.
All that changed is one,of the many shock waves that are coming , hit the shore.
What’s done is done, lots of waves coming in faster now!
Stay strong ! Trust your eyes, and keep them open.
I’ve been paying debt for over 2 years and have been living paycheck to paycheck. It’s tough overall 😒
Keep going. I did the same and it’s totally worth it. Part of it is psychological. When I paid mine off it was like a blanket was pulled off me.
@@johnlibonati7807 Thank you 😊 I can’t wait till the day I feel the weight off my shoulders . 🤞🏼 One more year to go.
My insurance policy jumped from $3200 to $5200 (+$167/mo via Citizens). You can bet that I will be passing that $167/ mo increase STRAIGHT THROUGH to my renters. Renters are not immune from increases in prop tax and insurance.
Renters pay full price plus markup.
Don't count on them paying it. Would you??
Give us this Day our Daily Work.
The grocery guy was wild😅😅
Good evening Michael, excellent content and your spot on.... too many folks bury their head in the sand and fail to manage expenses. When they get hit with reality they simply blame someone else. Keep up the hard work you do preparing worthwhile information.
Censorship is everywhere
I ll say
Every third post of mine is deleted
But the p o r N bots I report come back everyday.
It was 85° in Rockford today - tank time there!! I was floored, to see it that warm in mid-September.
From illness I had a 10 day slow pay on a C.C. It dropped my 780 credit score 3 points. This is contagious.
Don’t forget that renters have to pay electric bills too. One of my tenants in a 980 square foot unit said her electric bill was $300 last month. I recently replaced the HVAC on the building so presumably it is an energy efficient system.
Ask her what temperature the thermostat is set.
Pacific Heights is an awesome movie. I saw it in the theater back in 1990. One reason why I will NEVER rent a piece of property to another person.
Renters often pay for the home insurance because it’s baked into the rent. That’s what I do for my rental property. If it goes up, it means I will ask for more rent when the lease renews or with new tenants.
22% Increase for my triplex last month...
That’s just the way it works, and it goes for everything. No one is taking a cut the raise in cost just gets passed down to the consumer.
Yep. Few landlords lose money on the rent.
Matthew Modine is the actor's name. I love that movie and even visited the house where it was filmed while I visited San Francisco.
I used to live in the Bay and Pacific Heights is a nice part of SF! I gotta' see that.
At times like this!?...I've always remember my buddy who is the father of my EX employer taught me the following quote: "It's never how much you've earned but on how much on You Saved and this is the key to Financial Survival in any situation in this life and this mindset determines if you live comfortably or you starve to death!" Thanks a million @ John Antonelli who already passed on 11 years ago. Rest In Peace @ John Antonelli.
I just received my PH&E bill via email this morning: $142. Last year I was averaging about $45-$50. I have upgraded my computer with 3 32” screens, but I only run it about 8 hours a day and shut it down at night. 1-BR apartment.
"Pacific Heights" great flick (1990) Michael Douglas Keaton, Melanie Griffith, Mathew Modine
I live in Southern California in the 1300 square-foot condo when I don’t use air conditioning. My monthly electrical bill is $60 into 2024.
I left california and taxes went down business went up dmv open five days a week no appointment needed cops nicer crime non existent
We are discontinuing Amazon in January...for many good reasons.
Exactly. Whos fault is it. Wall Street, our government.
Yup, i am falling behind on my bills. i am done
We are falling behind on medical bills. We simply can’t pay them all. Its that or food. It’s how it is now that my husband lost hours at work.
They really can’t do anything to you as long as you make an effort to pay. Send what you can but don’t worry about it too much. If you can only afford $5 a month so be it.
Food comes first. See if you can get those bills lowered. Usually you can work with doctors/hospitals to get those bills down to a better and more workable amount. They would rather get something than nothing, so give it a try.
We were ok until I had a sudden health issue (afib) and ended up in two ambulances, three ER visits, cardiologist and over night stay in the hospital without any health insurance . Not good. Pray for us y’all. It’s hard times. God kept me alive for a reason so I’m not going to stress over these bills. ❤️
Many hospitals have a dept in their finance area..they can possibly remove a large part of bill..I think it's called charitable or something along those line. You have to ask and put your specifics and request in writing...multiple times.
@@APRIL_boymom Per what Maryklys1430 comments below:
The Methodist Hospital in my locale in 2011 (before Obamacare) had a faith-based affiliate charity organization that offered an application packet based on a sliding scale of patient's income to qualify for coverage assistance. In a timely manner did they process my application, and I qualified for 100% coverage. I paid nothing to any medical parties involved, including ambulance, labs, hospital stay, etc etc. To this day I continue to praise my Lord Jehovah Jireh for His wonder-working! I pray He also opens this door for you to walk through, Miss April Boymom.
I live in Miami and asked one of my coworkers that house hacks his home how much his insurance increased. I forgot the number but he said he doesn’t know how he’s going to pay it - he has been living there for about 7 years. 😬
A lot of people are obsessed with spending, and they use CC to get their high. Just like buying new cars, they just got to enslave themselves.
CC and credit scores were invented by banks to keep people in a perpetual debt mode...freedom is debt free, dave was right 1000%
BINGO sir! You nailed it. Consumerism & materialism, some think they need a bunch of dumb crap to be happy but all they do is enslave themselves... for crap they don't even really need. George Carlin use to talk about this. Keeping up with the Jones is not the way unless you like spending 3/4's of your waking hours working & commuting to & from work. I hear people crying about being broke yet take 2 vacations a year & get their family of 4 the latest greatest iphone every year..lol. They are broke by choice!
Huuh! Expensive! I'm paying 570 Euro for 650 sft rental apartment. And my electricity bill is at 32 Euro per Month here in Germany.
The economy is dying. Even dollar stores are suffering. The only new businesses opening up are dispensaries and payday / title loan joints.
weed shops are doing a bang up job
KROOKS!
I live in South Dakota and my homeowners insurance also jumped by like 30% YOY. I called around to get quotes and no one can even come close to what I'm currently paying. I had one agent tell me that South Dakota is one of the worst states for insurance companies (they are paying out more than what they are getting for premiums) since we have had a few bad years apparently. I have never had a claim. I've been in my house for over 7 years.
Finally hit the 1M in net worth and if you met us you would Never believe it! One 15 year old car, 1 small 3-2 🏠 house and we rarely buy new fancy clothes. The only thing we splurge on is vacations and helping our kids. We live wayyyy beneath our means and all our neighbors are bitching at us wondering how we can afford all these vacations. Simple, we don't have 2 750.00 a month car payments or a mortgage. Zero debt is the key.🔑
How much do you spend on food?
🌴🌴🌴 Hi 👋🏼 Mike and LISI 👋🏼👋🏼👋🏼❗️
I’m getting so tired of this world 🌎 that we’re living in.
I’m so very glad to be retired and scared about my future regarding work status.
Thank you Kids 😊
Have a great evening, Carlos
❤😊🤗
WE say yes. ressession is already been killing retail. Dell laid off 30k people. game over
Game just getting cranked up
Retail has been dying for years and it wasn't because of online shopping either! Once the cards are maxed you are not shopping with credit at all and is the main reason all these businesses are going belly up! An economy using debt to prop itself up is bound to fail eventually!
Why does the government react to poor or manipulated data about employment? That can't be good for policy, unless it was intentional to favor corporate interests.
Just got my escrow statement for the following 12 months. A 19.95% increase. They're doing the same thing to us in Colorado regarding electricity. My first bill in this house in 1991 was 12 dollars and some change. Now, it's in the $70-$90 range not using A/C. The way they do us is fees and assessments. They like to tell us we have some of the lowest rates in the nation. However, the fees and assessments are more than double the actual amount determined by the rate. In summer, we're up to about .27 KwH in the afternoons. You know, when it's approaching 100 degrees.
Not one rate increase in utilities, home owners insurance or vehicle insurance. No increases in property taxes ($575 for 7 acres, house, workshop, tractor barn) because our county managers don't think public employees should retire wealthy. N. Arkansas.
Thank you for trying to enlighten the public of what's going on and what's going to happen in the future
How in the world 🌎 can people not pay their bills. And still have a place to live or something to drive 😮
Car repos are at an all time high and it's not easy to get someone out of their home.
Millions of people are still hurt from the 2008 depression ! And no one went to jail.
The real issue is that people are living way above their means. They will learn when they lose everything because jobs are no longer a safety net when most tech industries alone are trimming the fat and firing half their employees.
Yeah you gonna learn with em too 😅
Excellent report on current situation !
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $150K-worth stock portfolio from decline, but haven't figured which way to go.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
How can one participate in this? I sincerely aspire to establish a secure financial future and I'm eager to see it come to fruition. Who is the driving force behind your success?
Jessica Lee Horst is a hot topic even among the finance elite in America. She's just a search away(on the net)
I just curiously looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Those utility costs in CA are incredible. In Illinois my latest electric bill running two ac units and electric stove was less than $30
Yes but during the winter, isn't your heating bill outrageous relatives live in Virginia, and pay up the ass for their heating oil there in lynchburg!😮
@@frankcorrea8691 No, my radiant heat is also electric. Although I admit it is more expensive than using the ac in the summer.
My PG&E bill runs about $55.00 per month in San Francisco!
@@gabrielmoody1708 the Pacific Ocean is a great natural A/C.
You can do well in bad economic times if someone else pays your bills!!! Plus, hand over spending money.
I totally get it, if you don't revise with new stats and this becomes an year old video no one can trust it 😊
Informative as always
Some people also rather have the brand new with all the bells and whistles vehicle and paying rent in a rundown mobile home.
I am retired & been through recessions in the past while I was working. I am not worried about any in the future. I invested while I was working. I have a house free and clear & no other debt.
24000$ a year is 2000$ a month and thats rent for a house you already paid 1.5 million for
well when you put it like that...
Utilities we're reasonable until Enron came to California. They backed congress-persons who helped de-regulate utilities, and in the process they blocked PG&E from building any new plants. When the system crashed with blackouts, Enron would buy cheap electricity from Oregon, then charge Cali residents a fortune. They billed themselves as an energy company but never produced a single kilowatt.
Never would I be so stupid to pay over a million for a closet!!!!!
Indeed.
A similar property in that condition where I live will be about $100k-$120k I think.
In San Francisco it’s just a place to part one’s money w out paying taxes on growth.