These Are Habits Of Successful Millionaires
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- Опубліковано 19 вер 2024
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FIRST 🥇You gotta be FOCUSED BUT NOT FINISHED! Yes Rachel the best seller Chris Hogan book! Please give him his props!
People think net worth is wealthy. Being wealthy for me is not worrying about bills, having money to travel three times a year and being able to spend time with my wife. I am not a millionaire but I am real wealthy.
Also I am waiting to invest in a retirement vehicle, is called a Corvette :P
Get a C6 or C7
C8s are absolute trash
Thanks for turning this whole discussion back on you. Nice!
I like 👍 this ! Not millionaire yet.. this is me!! :-)
Bowling Green awaits you!
Your description is nowhere near wealthy...but describes anyone with a steady job lol
Thanks Rachel! Keep inspiring and educating people, God bless you and family 🙏🏼😊
Great points and overall the video is very encouraging. However, if a person makes $68k a year, let’s be honest there - he or she has NO chance of investing $10k on an annual basis….simply due to the fact they most likely they are barely making the ends meet in our current economy.
I did it but it was during the Clinton years and the my Stock market was strong. I lived below my means, didn’t touch my money and didn’t own a car! Easy in NYC since we have excellent public transportation. Just retired a millionaire as a teacher! Her advice is spot on!
Depends where you are 68k is a ton of money outside of New York and California.
@Lena, with that mindset, you are correct. However, many have done it on way less.
@Lena, I personally know a 57 year old man who flunked out of high school, went to work at 16, still working today and his net worth in above 1 million. While his friends were partying he was at work, when they went to college, he was at work. See a pattern?
Exactly! I'm a teacher making 90K I can't save much. I have debt but even if I didn't I could not save anything close to 10k.
I am so thankful to know about you and your family. Prior to watching your shows about 4 years ago, I had lots of debts including my mortgage. Today, I paid off my 2 properties. Completely debt free. From Canada with love.
How did you pay off both properties? Did you get a second job?
From Canada? Me too.
@@naomisilva7that is easy for him/her. The money was sitting in an account and it came from somewhere. Working 2 to 3 jobs ain't paying off property that quickly.
*COST OF LIVING KEEP RISING WHILE INCOME REMAINS STAGNANT,WE REALLY NEED OTHER SOURCES OF INCOME* 😪
Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works
Talking about being successful! I know am blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Blossom Jefferson
The greatest regret is not trying and failing but it is not to trying at allFunny enough people aspire to emulate great investors and entrepreneurs, of our time but they only see their wins
and achievements and they careless about their
challenges and failures during multiple trials and the
lesson it teaches
I wouldn't agree less but a times we are influenced based on result of what will see and experience, failure at first try doesn't mean it is over but unfortunately people seems to back off when they have experiences some obstacle or failure along the way
You have to recognize you need an expert that
understands how to read the market so you can avoid
winning today and losing tomorrow. There's reason why experts like Mrs Blossom wins all the time,I was a bit skeptical but she
Kept encouraging me to invest and it turn out very
successful
I get the exercise, but you’re assuming investing 15% of gross income, which would be upwards of 20% net. That seems pretty high for an average household. Also 12% return is unrealistic. That’s greater than the compound annual growth rate of the S&P500 over the last 30 years, which was 10.7%
Well said
Some business assets give returns upwards from 25% - 40%?
@@johnrodriguez2438 I am sure that is true BUT are they talking about stocks or buying business assets?
@@donaldlyons17 I simply responded to Justin talking stalks making it sound like anything higher than 12% returns does not exist. They do.
I love your skirt! Any idea where it's from?
Wonderful , Rachel ! Thank you ! Keep it up and all the very best to you and yours ! Liz
Your outfit it so cuuute! Love it. 😍
These video ideas just keep getting better and better 🙂
A 12 % rate of return is not realistic. The absolute best (and riskiest) vanguard fund has an average return of about 10% over ten years. Most of them are much less. And if we adjust for inflation and everything else - then 12% is well and truly debunked. That doesn't mean we shouldn't save for retirement. But let's stop pretending this 12% return is replicable.
Shhhh quiet in the cheap seats please
It is. One can get 12%. Just keep learning and explore possibilities. And dont loose to much money in the process. Keep the faith and know that you will get opportunities once you are prepared. They say for a reason: luck is when opportunity meets preperedness. (Spoiler alert: its not luck, its skill and skills one can learn).
@@famfunfinfree Faith is fine but if the vast majority of people don’t get 12% how can it be learned? Over the last 10 previous years the markets have only gone up but 10 years straight is unusual!!
I agree. This 12% return is unrealistic. If inflation is 3%, that automatically takes it down to 9%. Inflation is at about 10% according to my own finance calculations, so....???
In either way, the rollercoaster needs to be ridden and if you get 8% overall, you aren't doing too badly.
@@donaldlyons17 Well, there are many opportunities. I know its not the ETF Dave always recommends, but those should be out there as well, still let me give you some examples. I have invested in a private company that gives me about 20% return on capital year on year in dividends. A second example is a private investment, wich returned my capital in full in 4 years time and now keeps giving me a small dividend each month of 50 dollars. So thats a free stream of income of 50 usd per month and I have equity there that I can sell. Also, sometimes its better to get some cash out of stocks, so one has cash on hand when the market has tanked. For instance during the crash of 2020 I had cash on hand, and I bought Realty Income stocks when it was 50 usd each. I now get 25 cents per share per month. That is 6%, but the stock is now hoovering between 65 and 70 usd, so its more then 12%. The risk buying those stocks were low because nobody wanted them at that moment. These are just some examples. I can name more but here I just want to give you some practical real life examples. It took me about 10 years to learn and in the mean time I kept the faith. Thats why I said keep faith. I also lost some money in the beginning (15 years ago), which was a setback so thats why I said be carefull not to loose money. And how? I learned by reading, studying, talking with people, I must admit I have gained a lot of business experience as well during those years which helped, and also watching youtube like Dave Ramsey and co. But there are tons of other youtubers around as well. If this is not practical enough, give me a response and I will reply again.
Thank you for giving us some great info.
I think the idea of arbitrary percentages of income going to investment is very outdated. This is the reason why I think so. 15% for a family of say four marking 67k a year may work in a market where the cost of living is very low. But in many markets, 15% may not be possible without making taking drastic measures. In Washington state, that would leave one with 52k after tax. Housing in Seattle is very expensive eating away a large portion of the 52k for 4 people.
Where I live in Vancouver, Canada, rent for a 3 bedroom puts me at $3k a month or $36k a year MINIMUM. Percentages work nicely on large salaries where the basics of life are not effected by investment. 30k is nothing for a you should income of 200k. Whereas, 5k on an income of 33k is huge and leaves one with just 28k pre tax...
Secondly, average investment return is no where near 12%. No idea where that came from. 6-8% is typical. 10% is 100% in equities. 12% you're doing very very well. Besides those observations, lovely video.
People always saving something is better than nothing BUT I am with you. Higher incomes seem to consistently provide better options so income normally matters!!!
Get a better job or move. Quit blaming a town. Move. Get another job. That's what everyone has to do. Money isnt free. You have to be proactive on your finances.
I don't get to decide what I want to do with my income I really don't want to buy gas groceries rent or various insurance policies but I do because I need those things
Yes, you need to make 2x your annual expenditures to have the margin to enjoy your money
Also don't ever get married or have kids lol, that'll destroy your finances
@Linda Until a Judge takes half your stuff!
If you do not handle your business, your business will handle you, FACT
@Linda It's a shame cause I'm an orphan adopted by a big family and always wanted a family of my own, but unfortunately too many money, power hungry, and divorce-happy females have made me extremely wary of making that a reality
No offense to the women out there who would love men unconditionally but I'm in my 30s already and have yet to see those cause they're extremely rare, like this Saab I restored and sold that was only 1 of 24 ever made
@@15KHPCLUB the societies are crumbling. There are few good woman and few good men. Even harder that they find eachother. Have a clear realist expectation in you future wife; make sure you meet these standards too, and do not even go on a second, or even first date, as soon as you see that she is not eligible.
I work production and my husband is a machine operator . And we are a millionaire. We have two home paid off and rent it out
Good for you 🤡👍 Some people as they age come to the conclusion that they don’t need to be “Millionaires “
But keep pushing the narrative 🤡👍
@@zoobrizz now I’m working to pile up my cash and I will quit my job in 3 years ❤
Love this show, thank you Rachel !
And I’m in Canada, so far the best somewhat safe investment I can find is 1% or less… so me and the wife have talked a lot and we are gunna start buying land cash as soon as our place is payed for. Land up here has roughly doubled or more in price every 7-10 years sins the 70s
I would recommend day to day digital investment on short term,reach out to agent Max on clarification to assist you if interested,on Wat's ap handle.👇
＋𝟭𝟱𝟳𝟯𝟰𝟬𝟮𝟯𝟭𝟰𝟬෴ᚙᚙ꧂❱美国美国....
it's possible
Yes stop spending and focus on yourself
Most people I know that are truly wealthy drive normal cars..Lexus and Toyotas are popular with them.
Sure. 🤡👍
Rachel, be a little more realistic. 6% at a medium work fund is more reachable than 12%.
Note: I do love your shows. Not always in agreement which is okay. I am following the baby steps and staying on course.
Thanks for the information!
A bit surprised to see teachers in top five.
12% return…. So far this year my 401k fund is negative 33%.
It is on SALE!, Buy more
You are not alone
-20.5% over here. Hang in there, bro!
@@Levi-1992 Fire SALE!
Mine is down 26% right now, but that just means stocks are on sale.
Happy! 4th! Rachel!
They don’t spend like millionaires !
Good show
Thank You!
Teachers and cops get pensions. What about all the people who don’t.
The maximum allowed in a Roth IRA is $6k… yet this is saying $10k a year
You can have multiple accounts! My husband has a roth 401k through his work and we each have our own Roth IRA!
Good info. Thanks!
For the Roth I thought max co tribute in was 5,500?
They upped it during the pandemic and it hasn't lowered yet, if I'm not mistaken.
They increase in $500 increments every few years
*$6000
@@clarisamarie104 it never goes lower they increase it by $500 or so every few years to pace with an afflation
This is fantastic 🔥👌🏼
What about the people who make around $35,000 a year the ones without a college degree just an average factory worker.
Listen to their debt free screams. Many many many debt free and EDMs dont have a degree, and failed HS.
Some people as they age come to the conclusion that they don’t need to be “Millionaires “
But they keep pushing the narrative 🤡👍
I thought the medical field would be on the list. I wonder why
Dave says doctors are among the worst at managing money. They might nake money but dont do the baby steps.
One habit could be not voting democrat so you don’t have all of your retirement accounts wiped away in two years
That is a good idea. Unfortunately almost half of America isn't that smart
Hasn’t these people read the millionaire next door
Almost all those jobs that you have listed off that people became million years off of make well over $100,000 a year... That might be the majority of millionaires in our country that have made that much money but that's not the majority of people in our country...
You’ll be living it up at age 67
Ok thats very bias, a celeb1 contract can make them instant millionaire
That's her point
Can’t believe no medical field people on here
Dave says docs are the worst at managing the money
Did you do all this yourself or are you the 21% inheritance? LOL
Woohoo! Engineers rule the world!
But they sure are boring people 👎
Money is an issue that every one has for a better and luxurious life, was hard for me until I started investing in Bitcoin trading and am now earning $56,435 per week with an initial capital of $13,000.
Only those who are able to identify the opportunity that comes with it have and are still benefiting from it.
@Tanja Lehrer Quite interesting. I've never made such returns in stocks💚.
How do i invest with him?
I met Mr Max last year for the first time at a conference in Manchester, I invested £25,000 and trading in one month making close to £143,670
There are qualified,experience traders who have spent time and resources,and leanrt these steps of taking highly profitable trades and even mastered them.the best you can do is to contact one and curb looses,of which agent Max is a reliable Source.
Jesus loves you he died on the cross for your sins. Believe in him and you will be saved and go to heaven!
Thanks for making this all about religion. Nice!
Just heaven?? If salvation was just for heaven then Jesus Christ died for something little. Salvation is for life here and after. When I got saved I appreciate the love of God and love for my fellow humans. The fruits of the Holy Spirit abounds in my life. Salvation does so much for a person here and we need to let them know.
True dat
This woman is delusional.
Some people as they age ,come to the conclusion that they don’t need to be “Millionaires “
But keep pushing the narrative 🤡👍
Despite the economic downturn,I'm so happy☺️. I have been earning $ 60,000 returns from my $7,000 investment every 13days.
I find this statement hard to believe, Charles. 60K every 2 weeks from only 7K investment? Sounds like a MLM scheme.
Happy! 4th! Rachel!