I started investing late last year. Whenever I read books and articles that have graphs telling me Suzy started at 18 with $x and Tommy started at 25 with $x I skip it. I'm far older and don't make much and don't care, so I skip those parts. The point for me is improving my finances and not beating myself up.
Yeah, there really needs to be more out there for people starting mid-game in their 30s or 40s. Too many books focus on 20s or being completely screwed in your 50s.
I skip those types of examples too--they make my stomach sink. Even if someone is in their 60s or older when they finally get a clue, they could still see 30 years of benefit. I started investing a year ago and am amazed at my results. I wish I'd focused on it sooner but if the results hold I'll soon be in great shape.
1. There is something wrong with me. 2. I should be further along by now. 3. It takes money to make money. 4. It has to be all or nothing. 5. It's bad to be rich. 6. I'm late to the game.
MountainMonkey2 yes, I’m a millennial and I’ve worked very hard to get to where I am. They need to shut up and educate themselves. Bernie won’t save them, he’ll destroy them.
15:06 - "People who started investing when they were 12 wish they started when they were 2." I'm sure those 2 year old investors also regret not having the motor functions or internet connection to have opened a Vanguard account from the womb too.. Good stuff Rose, I enjoy the positivity you always bring in your videos!
I laughed ...and then realized grandpa started Vanguard and Franklin Templeton accounts for each of my kids when I was pregnant with them! I credit my husband's dad for getting my kids now in their 30s started. 💕
I come from a family who has enough wealth that I went to college without a debt, a culinary art study, All my expences were provided by my dad who works as a tax officer. I focused on keeping my GPA high and never try to work a side job on my holidays. After I graduated, my dad died, and I found it very hard to get a job. And I feel ashamed, and very hard to stay debt free. But then I put my shame away and get to action 😀 And yes its true, it gets better
Kalitsa Nurhabibi hard times always teach us great lessons to make us better person. I’ve just recently also having financial crisis that have made me a new person.
Probably the most crippling of these beliefs are "I should be further along by now" or "I'm late to the game". It's easy to give up with that mentality, thinking that one will never catch up. Time will pass, no matter what you do, so its better to start late than never!
Thank you sooo much for your content Rose! I am 22 and just graduated and I feel so scared about paying my student loans and everything :( you have inspired me to open a Roth IRA and start investing! I really don’t wanna live like every other American and live in debt. I hope I can get a fat 6 figure net worth like you someday!!
My kids started investing at 0 months 1 day through 529 account, they will thank mom and dad later, 3 year old has 8k and 11 month old has 2k already, dayyyyum lol wish my parents did that
cashmonyz Just remember to actually teach your kids. My parents never formally taught me anything about money or finance despite them giving me a great college investment account when I was 5. For me, it was just watching what they did. Most kids will absorb not just what their parents say, but what they do. Do both and teach them how to be grateful as well.
Hey Rose! To speak to your #6: Yeah, I'm 52 years old now, and I'm just starting to get serious about investing. I wanted to be a 'wunderkind' of investing when I graduated college at 22, but everyone told me, "You need your money more now then you'll need it then (retirement age)" or "Your money will do more for you now than it will then." Damn, I believed them (!).....and I totally regret it but I love what you said about how we should get centered and leverage whatever we have at the age we are now to build wealth. It's really never too late....
Thanks Rose! I am also one of those who are starting to get their finances in order late in life. I’ve been teaching my mom what I learned and she always says, “I wish I knew that growing up and raising you kids.” Your platform and social media these days is so important for folks like me who were never taught real life skills of managing money and investing for the future. I am so grateful for your content and you do an amazing job of explaining in laymen terms for newbies like me!
Wow. Really hit home for me rose. Past 5 years off my life I've not gotten anywhere. Pride and shame put me in a bad place. I live at my parents right now even though I'm 26. But I'm working really hard picking up side work and I'm getting my life on track. I dont look like much but I'm in control of my life which makes me very happy.
My sister moved out a few years ago, but then moved right back in with my mom and me a year later... Shame and “keeping up with the Joneses” can tear you apart mentally (if you let it), but you save a bunch of money on rent by living with your parents :] Keep growing financially!
I'm a 33 year old living in NYC and only started investing more seriously a year ago. It's never too late to secure your financial future. It's only because I didn't have the guidance or willingness to learn about personal finance earlier in my 20s.
I listened to this video while I was doing the dishes, just like listening to a podcast. This one was so good, Rose! I really needed to hear this. Especially about the idea that "I'm not far enough along on my money journey".
I've binge watched most of your videos for the past few days. Your passion to help others is really inspiring. Keep up the awesome work Rose! Love your shows!
Dis·ci·pline ~ The practice of training people to obey rules or a code of behavior. Or The Marine Corps Version Dis·ci·pline ~ The instant willful obedience to all lawful orders, respect for authority and (here comes the most important part) 'Self Reliance' Focusing on your mindset really is essential. Great video. Thank you Rose 🌹
Hey Rose! I think you are amazing! I have a PT job with an airline but I'm currently working on becoming a FT Financial Coach (former Financial Advisor and currently getting a Financial Planning Certificate from BU). My coaching is all about learning & unlearning, planning goals, investing & staying debt free. I also help my peers at the airline through a private group in FB. I shared this video with them and they are basically laughing because this is 100% me talking!! (I even have the iceberg picture in one of my presentations!) I came to know you when I was looking for a video that would explain the concept of Dollar Cost Averaging and I loved yours! They were panicking with their 401k and the market volatility created by the virus. I watched a lot of them and yours won. You are a great teacher and I love your enthusiasm! I immediately subscribed to your channel! You are awesome. Thank you for doing this! You are a great contribution to humanity!
Loved your points! However I wanted to add that I’m a Christian and attend church regularly. The Bible teaches us Love of money is root of all Evil not money itself. I was blessed that my dad understood this concept as well and he reiterated that teaching. He’s an entrepreneur who grew up poor on Al farm with no plumbing and picked cotton. He changed his life with knowledge and education. Our pastor also teaches Money is not evil and if God has blessed us with money, we should give and be generous with others. Sorry to get so lengthy 😂
Ashley H That is nice pastor is teaching about it. Most wouldn't touch the subject because they think or believe money is evil. But in reality they're pretty bad of managing money, the reason they can't talk about it.
Ashley H Love of money is not evil, it is greed that is evil. It’s ok to love money. Greed is an extension of insecurity within one’s self. The feeling of never enough leads to greed. Abundance flows when you feel everything you want is already yours.
ALSO, if you are religious, what people forget is holding your ministry accountable for where they spend your tithes. I remember my parents giving money to missionaries and them being conned from time to time.
@@JESSICA90484 That was a tough one for me as well, we are called to be good stewards of our money and that doesn't mean to just give to every preacher on tv who is asking for it....we must do our due diligence to be sure it is going to where they are saying it is going to. Great comment.
OMG I needed to see your smiling face, to hear your general positive perspective outlook and to once again learn something new financially from you in this crazy time! Thank you!
I only started looking into my finances with the extra time I've gotten since the shelter in place started and definitely relate to all of your points. Hope more people are able to see this so it can make a positive impact on even a few people
Making money is all about being resourceful and open minded in addition to taking rapid action. You know what they say, action takers are price makers.
Hi Rose, I've been checking out several of your vids, good stuff!!! Thank you 😊 I'm trying to get my awesome son and his lovely fiancé more into investing. She's understandably being hesitant. I'm going to tell her (both of them) about you, your channel and firstly THIS video. She's already on top of several of the things you warned about but getting some positive reinforcement is still a win and there's always room for improvement! After a few of your vids they might be ready for those books you recommended!!!! 🧐 Thanks A LOT !!!!! 😁
Thank you Rose! I'm Christian and believe that money is not root of all evil. The verse says love of money. God wants to bless us! Not shame us for wanting/having money. I'm glad the church I go to is addressing this but I know that there are many who still misinterpret this message from the bible. This video is different but I like it! Thanks so much!
"...I'm all about the tactics and head knowledge and strategies which I talk alot about on my channel but if you don't have the mindset to back it up, you're not going to take action on what you know and when it comes to personal finance and investing, ACTION is everything. Information is easy to come by, but ACTION is all that matters. Only ACTION is going to grow your bank account. Only action is going to pay down your debt and get your money working for you." Learning, reading, listening, watching, mean nothing until you take ACTION. I have had a whole lot a time/opportunity to learn from my mistakes and I am STILL learning from not taking action.
Number 5 is what I still struggle to shrug off my mindset to this very day and I do realize it’s very limiting.. maybe I got it from my culture or environment as I grew up.. But God damn it, it is OKAY to be rich!! Thank you for the encouragement! 🙏🏻
Yes I totally agree! Even if you have bills and other things to pay off I started to save thousands of dollars by just putting away $30 each week into my savings account and it definitely helped me save
Nicole Minabe Years ago I had only 200 in my checking account and only 1,000 in my savings. I made up my mind to have more. I did only two things. Spend 5% to give to others whether a charity or otherwise, and save at least 10% net pay. Now I have half a million in investments, and several thousand in both checking and savings. This was my easiest budgeting method that actually worked.
@@taoist32 WOW! That is so amazing!!!! That is such a huge accomplishment and the fact that you completely changed your life around! You should make videos about that :)
Nicole Minabe Haha. Thank you. No need to make videos. Anyone can do it and discipline is easy when you only have to do two simple activities that take less than five minutes to do. Of course, learning and experiencing how to invest takes more time. I think the key is to figure out the lifestyle you want. No one should be afraid to make the choice to save, give, and invest.
Awesome content and money lessons Rose! Back in my university days, sis took any additional student loans I received after paying my tuition and books, residence and meals, and a little spending money and invested them all. At that point in time, I didn’t understand why. All I saw were that I missed opportunities on Spring Break trips, no car, no computer in my dorm and had to use the campus computers, and didn’t have the lifestyle as my friends did. Upon graduating, sis took all the invested money and then some and settled my entire student loan in one shot. All of my friends were shocked. Thanks to sis and thanks to you Rose for bringing back memories and a refresher the importance of handling money. 👍
Rose, you are a GEM!! Doesn't matter that this video wasn't "info-based" like your other videos. This is an important topic. #2 Comparisonitis #3 Resourcefulness and #4 Multiple little streams combine to create a raging river were especially impactful points to me. Thank you.
You and Andrew Jihk are changing my life. I am "late to the game" (I'm 27). Life isnt always easy, and you can only do what you know till you better. So now I'm doing better. Thankyou
This is exactly why I setup auto transfers to savings, retirement Investments, student loan payments, and auto pay for my credit card. Now I don't have to rely on motivation or have emotions affect my finances.
Keep up these types of videos. Investing/personal finances can take up so much emotional energy. Therefore learning these underlying beliefs was really helpful for my own thought processes.
It is definitely worth it to bring in info about habits, mentality, attitude, discipline, reprogramming, critical thinking, diet, etc because they all are what will sustain or sabotage a good financial journey.
Rose you're amazing and wise, so allow me to share my Words of Wisdom: The three most beautiful words you will ever say (beside I love you) are "Paid In Full!" Those 3 little words will give you such a feeling of accomplishment and security (smile).
I bought a lavalier mic for 10$ on amazon. I record the audio separately on my phone (voice memos) and put it as a second layer over the footage when I edit my videos. Sound is great!
Rose just needs to get a little mic that attaches to her shirt, then it will be fine. There will still be some slight echo from the reflective surfaces in her room, but it will be much less than now.
Thanks for all your tips Rose! And I love a cheesy story (grand canyon) any day. That's what makes you a real person. I definitely identify with a couple of these and I think it's so important to understand how they motivate our behaviors. Your comment about sitting at the family table and talking about money is so true. So many of our parents did not teach us about money and spending or had wisdom or advice to offer.
One message from Christianity is "it is easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of God". But that was about the love of money, and money is not the be-all and end-all. If you want to donate generously to charities, help family members etc. you have to have money to begin with.
Dang, I really needed this right now! Thank you! I struggle with combating ALL of these negative beliefs, so now I gotta check out the books you recommend on personal finance! :)
Rose 🌹 just read your email on #George Floyd and I was just saying I’m not understanding why some You-tubers are avoiding the elephant in the room, and BOOM 💥 you did... made me realize who I’m really following- I was really impressed. #Rose is still a 🌹
@@itsrosehan Perhaps if BLM came to your place of business and looted it destroying your livelihood and community (mostly a minority community I may add) targeting and tearing down your way of life (business) that you have built over the past forty years you would have a different perspective on the BLM looters.? Then to ask people to support BLM protestors (who are being paid to loot) literally there are paid protestors in my community. Sadly you know enough about this to believe you are correct when clearly you lack perspective and all the information. BLM supports the destruction of my livelihood despite the fact that I had no stake in the death of Mr. Floyd or have ever acted in a racist manner. Nothing like jumping on the bandwagon to monetize on a crisis. I support all lives, races, religions, and people. I would never take an extreme example and use it to stereotype and target other races or peoples so that I could justify looting innocent minority businesses, belongings, homes, cars, etc. Then publically call upon my youtube followers to financially donate to that cause. Rose, I have followed your channel for a long time. It was hard to click on your video today.
@@joaquingonsalves11 The question is what do you think should be done about police brutality and I see nothing about that in your comment. You may experience some interruptions to your livelihood every now and then from social unrest, but for many blacks and minorities, they experience inequities from the time they are born and throughout their entire life. So you can understand if they are more frustrated and ticked off than you think they should. Fortunately, we have a system of law and order that has worked for centuries. These social riots have had little impact on the investing world. Stock markets have continued to grow in spite of them. You should thank Rose for steering in the right direction with her channel. Speaking of monetizing her channel, I wonder why there are no ads in her videos.
Joaquin Gonsalves if that’s your mindset then you deserve to have your business ruined 😂 these people are just screaming to be heard for once. plus, majority of these “looters” are just random people of the public taking advantage of the riots. don’t blame the protestors lmao next time bring facts or block her if you don’t want to support her anymore
Do you know anybody that is not horrified by what happened to Floyd? No because that is something that easily everybody can agree is unacceptable. Nobody except for a minute minority believe that black lives don’t matter. However the reason I am now unsubscribed from Roses channel is she calls for donations to BLM. If she has actually been to their website then she is knowingly supporting an extremist group that believes the police should be defunded. BLM hides behind the name pulling in money from naive liberals with the goal of disrupting and tearing down our society. I can’t get behind that.
I loved this!! I was a believer in many of the myths you discussed. Maybe not a believer but they definitely lingered in my subconscious!! Thanks for putting them in to proper perspective!! BTW - absolutely love your channel!!!
Hello Rose. Another nice video. I really like hearing how you were able to get out of debt and get more involved with making money. Very inspiring! It's something I'm going to do more of next year when I'm retired and living overseas. However, I think people who are not financial experts and want, think or dream of retiring one day will get a major wake-up call when they find out (and its usually later on in life) how much they'll actually need if they want to retire. I know everybody has a plan, they all know what they're doing, they walk around with the attitude like a know-it-all, but the reality is you'll never know how much you're going to need until you reach your retirement age. For most it's going to be a hard punch in the gut! I was in my late teens in the early 80's. That's when the 401K's started. What started out as a tax loophole for big company's became a way of company's to eliminate there pensions and make their own employees responsible for there own retirement. Great idea--right! Put the employee in the position to play the market! Here's the problem: How many employees at ABC Tech are stock brokers? How many employees at XYZ Bio have the time to invest when deciding stock which option to choose from? What I'm getting at is the regular 9-5 worker is totally clueless when it comes to investing. They're exhausted after a hard day's work. They want to relax, recoop and get ready for the next day. I know. I've been there. I also attended those meeting HR demands that you attend (back in the day), which will explain the company that'll handle your retirement 401K. Rose, ask any one of your viewers: What's in your 401K plan (do you see names like Boeing, Amazon, Microsoft, Best Buy)? If the investment firm is Nationwide, Charles Schwab, or T. Rowe Price, where are those hard-earned dollars going? I bet you'll get a lot of IDK?!?! I know, I was one of them. Didn't have a clue. If you're not well educated on investing you're screwed. Trust me. Enough of that. I guess I want people to know: 1) If you really want to retire at 60 I hope you were investing about 30% of your paycheck from age 20 and haven't stopped & 2) Save as much as you can! The retirement boat leave the docks at age 20-25 and if your not on it you gotta lot of catching up to do. Some may never catch up at all.
The smallest changes make the biggest differences, that sunk this year... and that steady growth is so vital, the compounding effect is so real- it is worth making any small change that leads toward to financial freedom, the accumulation is an eye opener.
I started my financial literacy journey by starting a zero based budget and using the cash envelope system. Taking the necessary measures to spend less. Basically live below my means which hasn’t been hard for me luckily. Now, I’m going to start reading up on investing because I barely know about it or where to even begin. And you’re right, if you grow up with your family not knowing how to manage money, neither will you. I had to do something to change that. It feels reassuring knowing I’m on the right track.
Well said Rose - money is not the only value creator as you illustrate by monetising your hard work with owning bricks and mortar. Neither do we always ask for the value we create - it costs nothing to ask and will also open your perspective on how the company rewards entrepreneurial and hard employees!
Hi, Rose. I love your life stories... Money and how one deals with it is personal. I don't want to discourage the information - please. I wait for the weekly "report." I cannot complain about my finances too much. I know I'm further along than many other people. However, I need to improve myself in this area. I want you to know that a couple of investments were inspired by your talks and I'm doing well. Thanks for you for you. May we all get through this more or less whole. Best wishes.
Woohoo! That's so awesome. Being able to get ahold of your finances is a great start. It's not about how much money you make, its about how much money you save :)
I love this - limiting beliefs is the true killer of alot of success. This same philosophy can be applied to so many things ie "feeling ashamed about zxy" take action and do it. Alot of people feel stuck or don't see they're in a negative spiral. Shifting beliefs 👏 Thankyou so much again ❤️❤️😇
I grew up in a working class family that knew absolutely nothing about money, only that we never seemed to have enough. My mother is a spender and it doesn't matter how much she has....two dimes to rub together can buy something for someone right? I, myself didn't even find out that good credit was a good thing to have until I was in my 30's and my wife pointed that out. I am now on my own journey to finding out how to be rich. You quoted the Bible verse right, but I waned to point out that the Bible is actually full of rich people, Adam, Noah, Abraham, Solomon just to name a few. Which is supposed to, I believe, lead us to believe that God does want us to be rich for the very reasons you pointed out, it is way easier to give to great causes when we are rich. Love your videos by the way, it feels like we are having a face to face conversation about things I haven't learned yet.
I found you during coronavirus and since then I’ve bought 3 of your book recommendations. I’m almost done with rich dad poor dad and it’s motivated me to become more educated on finance. Since then I’m on path to pay my mortgage by Sep 2022 VS 2045 (velocity banking, UA-cam it!) and have started looking into real estate to add to my asset column!
My wife and I concluded it is cheaper to retire on minimum wage than to work full-time as an engineer in a company like Broadcom, for example. It's not bad to be rich, but unfortunately, many in a Christian church look down on the poor and do not associate with them. I am somewhat jaded about church, but we want to go back to church. Since we are earning minimum wage, it is very hard to fit in any church. Not many know that being rich means that you basically buy stuff you don't need where you end up being a lot poorer. Since I am not working, I do take care of my family as a father. We do not have a nanny. A nanny is around $30,000 per year. I know many rich members spent that much for a nanny. $30,000 is almost half of an engineer's income working at Broadcom. When you work at Broadcom, you need to buy a secondary car for your housewife. My point is that when you pursue being rich, you will spend money on stuff when you can do it yourself. I am an engineer. When stuff breaks in my home, I always do my best to fix it. If I work at Broadcom, I do not think I will have the time to repair every appliance in my home. I have to hire someone to fix everything in my home when stuff breaks.Yes, the Bible made it clear that love of money is root of all evil. Being rich itself is NOT a sin because Joseph of Arimathea who buried Jesus at the tomb was rich and risked his own life doing this because he could also die on the cross himself for burying our God. I know it is counterintuitive. Many believe making money gives you the financial freedom to do what you want. What our family experienced is that being poor helped us spend more time with family who matters most.
The way I see it is what can I do to put my future self in a better position than the current me. It really helped me change my habits across the board. Now I save money like a squirrel saves nuts 😂 Getting ready to do some investing in RE soon! 🎊 Love these videos keep up the great work! ✌🏽
How applicable is this video for someone who is in later stages of life! Because by now, it's pretty likely to be able to relate to all 6 points! I've been practicing the 'drip' effect for years to pay down debt. Paying anything over your minimum payment, even $10, is money you will no longer pay interest on and bring the interest & principal down to a lower balance. I've started my investment strategy the same way. Am I going to actually miss $10 a week? And a couple years later, I have a few actively growing portfolios. Thank you for your passion & insight. I know people are listening and gaining confidence to finally take steps the always wished they could.
Hi Rose , Great video ....I think you nailed it on the head ....habits , habits , habits !!!! ...phycology has a major role in our individual lives , determining our actions !!! ...past , present and future ....learn from the past , be present in the now and just do it !!!! ....you go girl !!!! ❤️🙏
Hey Rose - enjoy your vids - loved the part about you have to invest your money and not let it sit in the bank because of inflation. Also loved the comment about hang in there with market fluctuations - at least the money is invested. As a dividend investor - this was really helpful to hear. Thanks for all you do
Whoa! Congrats on finishing off your loans this year! I have a 150k+ student loan from PT school that I am terrified to tackle. However hearing your story does make it seem more possible! I really enjoy your content! :)
I have been following you in the past weeks. I am happy to see you are trying to be honest with everyone and with yourself. Sometimes, many of us need to know that we are not the only ones thinking or feeling the same way. Keep it up, girl!
WHAT A GENTLEMAN! KEEP UP THE GOOD WORK SIR! THANK YOU FOR BEING A GREAT PROVIDER TO YOUR WIFE, AS WELL AS SHOWING IN A PRACTICAL FASHION YOU REALLY DO "LOVE" HER!!!
Excellent advice! These are all beliefs that hold us back financially. Money is not evil. It's the love of money that is evil. Money can be used for wonderful things in this world. Also, we shouldn't dwell on our past financial mistakes. We should focus on the future. We can learn from our mistakes and get better.
I think a big limiting belief for me is "you can only get rich if you get lucky/ have a privileged background." I'm sure it's EASIER to get rich if you get lucky or have rich parents, but attributing success to windfalls is basically a way to ensure I never take any steps or work hard at it at all. Great video, as per always, I'm binging your old videos in prep for a new job where I'm actually going to be making more than subsistence wages :)
Similiar here. I used to be part of a Bible group which for years sabotaged me with “camel” and “needle” mentality. Now out of it I feel much better about my financial life.
#1 "There's something wrong with me" having shame about mistakes, thinking/feeling you're unworthy of wealth #2 Comparing yourself to others #3 "It takes money to make money" #4 Taking an all or nothing approach to money #5 "It's bad to be rich" #6 "It's too late to invest"
Thank you for this video, it was exactly the positive boost that I needed. I am 38 and open an investing 3 years ago. But since pandemic, I realized I needed to take better action of actually investing because I didn't really do much since with the account. I actually file for bankruptcy few years back and though....that's it.....I will never make money! And the information out there is all about investment from yesterday, so I started to be more proactive and believing that there is more people out there that I have a similar situation and found a lot of positive information like your video that speak about all the small step no matter where you are in life and in the future it will be rewarding no matter what :) thanks and keep up the good work!
Thank you for sharing, Rose! Growing up as an Asian American, a lot of these points resonated with me like maintaining status, holding a grudge at wealthier people, being "scrappy", and making the best with what you have. While some of my (traditional Asian) relatives still hold these money-limiting beliefs, your own personal finance journey is the most important thing to focus on. Great video and would love to see more "philosophical thought" content in the future too!
I think some of those beliefs still can help in this present age, like being scrappy and living below your means, you just have to balance it with not being so penny-pinching that you’re miserable :] Keep what works from the previous generation, while still being open-minded enough to change and evolve for the future 🔥
Love that you found so many points relatable! It seems like this video is resonating so I look forward to doing more “philosophical” money videos in the future 😊
I have no idea how many videos you have on here, Rose, but I’m going to watch them all. Great examples, ability to relate, and common sense presented attractively. Thank you!
Your production has continuously gotten better, and your content is as great as always. Thank you for your countless words of wisdom. I started "late" , as in, this year in my early to mid 30's to really care about debt and money. In part, that's because I had low paying jobs in my 20's. But I've made good progress in the past month alone. Paid off one credit card, another credit line, invested into stocks, and created a liquid emergency fund of 1k. In part, from the advice in your videos. So thanks! And those are all books I purchased in the last month, along with a few more. The first one I'm reading is Unshakeable :)
So awesome all the steps you’ve taken! Congrats and you should be proud of yourself. Also I have a video editor now which helps soooo much to uplevel my videos. More improvements on the way :)
You are a godsend. You are giving us a lot of information that we would otherwise have to pay a lot of money for. I appreciate your efforts. I would like to see you express to your subscribers and visitors the importance of health & life insurance in particular. Because medical expenses alone can wipeout or seriously impact our finances. I would say that both health and life insurance are necessary expenses in the financial department. And by the way, I am a subscriber.
Thank you for sharing this. Thank you for reminding us we are not our mistakes... That story of your emotional epiphany on the plane ride made me choke up as well... I felt like I also went through mini versions of that same cleansing feeling as I listened to what you shared with us on this video! Please keep up your great work and thanks again. Never too late - I am committed to turning my finances around from here.
I really relate to the "I'm late to the game" mindset so thank you for including it. Also, good point on how shame makes everything worse - I spent way too many years (decades) being too afraid to pay attention to my finances, so yeah, they were horrible. So I may be late to the game but I've made a lot of progress in the past year, so I'm looking forward not back. When the market crashed in March, I bought in, just ten dollars in some index funds. I've really been enjoying the recovery since then, lol. Another of my limiting beliefs was that investing in stocks was way too complicated and expensive and difficult for someone like me. It's a lot easier than I'd thought to open a brokerage account. I started with Betterment (robo-advisors are very reassuring for newbies). If it weren't for fractional shares, it'd still be too expensive for me, but the market is a lot more approachable than I'd thought. And I learned some of that from you. Also, I think you recommended "I Will Teach You To Be Rich" which is really great. (Frugal tip - get a free trial of Audible, download that book as your one free one, and cancel before they charge you. Totally worth it) Thanks, Rose.
Excellent and very true. If your subconscious is not on board with getting rich, it doesn't matter how much you learn about budgeting or investing or other money mechanics.
Hey, just wanna say thank you for all your contents. this is exactly how i feel. I had to grow up alone since i was 11 and absolutely nobody to teach me about financial literacy. To make things worst, I am in the creative industry which have no exposure to finance at all. All my friends seems to be doing so much better than me while im struggling living on the edge just trying to make ends meet. Your videos are so easy to understand without all the finance gibberish terms.
I have watched 3 of your videos so far, and I am really learning a lot. I am in my late 40s and the simple changes that I learned and am applying, I'm going to do very well into my 50s and beyond. It's never too late until I'm dead. Thanks for sharing Rose =)
The main mindset is to know you deserve money and excess income. With that knowing firmly established -- like right now -- you will spend less money than you earn, save and invest what is left over, and slowly grow your financial wealth. At the same time, you have to look at what else you deserve in life and achieve the mindset to attain it: your health, your creativity, your living atmosphere, your work or career, your social and spiritual life, every facet of life and living with which you are intimately connected. Money is only one of those things. The book, The 7 Habits of Highly Effective People and others like it would be helpful in this larger regard.
LOL Rose. When you said burning man I realized I will be your subscriber forever. :) Have been watching your videos and hitting the like button without writing much but your comment finally prompted me to say something. Rose, I always learn something from your videos. You're probably the most informative, down to earth UA-camr I've ever seen. Thank you and keep being you!
Love your channel Rose, you have really helped me reevaluate my life and finances and ways to make my money work for me. Your dreams ARE tangible people! ❤🌹🌹I'd love to see a video on how to encourage young children to be responsible with money, just an idea❤
Great video. I agree with you, it doesn't necessarily take money to make money. However it certainly helps to grow your wealth. It's like a snowball effect. An annualized 6% return on $100 is only $6 but on a $1 million portfolio it's $60,000. It takes small steps but if you keep at it, it's amazing how quickly you can grow your net worth.
Money is simply a tool people who see money as an evil clearly don't understand that its how you use it that counts. The more money you have the more money you can give! Keep up the great content.
I’ve really enjoyed your videos. You have a real talent for explaining finance as well as excellent skill at public speaking. The pandemic really pushed me to rethink my finances and I’ve been reading in the market for a few months now and your videos have really helped me understand and refocus my efforts. Best of luck on everything going forward!
I agree with some things you say but not the others. It's not wrong/bad to be rich, it's what you do/act afterwards and unfortunately lot of self-made folks forget their roots because they glorify the rich too much.
As someone who's starting out investing in my mid 40's, this was very encouraging and reassuring. Subscribed!
I started investing late last year. Whenever I read books and articles that have graphs telling me Suzy started at 18 with $x and Tommy started at 25 with $x I skip it. I'm far older and don't make much and don't care, so I skip those parts. The point for me is improving my finances and not beating myself up.
Yeah, there really needs to be more out there for people starting mid-game in their 30s or 40s. Too many books focus on 20s or being completely screwed in your 50s.
I too am starting late, and it's amazing to think that (had I known) with a few changes back then, my life would have been so much different now.
or 50's or 60's & beyond! LOL!!!
@@briangroves4124 me too! So depressing!
I skip those types of examples too--they make my stomach sink. Even if someone is in their 60s or older when they finally get a clue, they could still see 30 years of benefit. I started investing a year ago and am amazed at my results. I wish I'd focused on it sooner but if the results hold I'll soon be in great shape.
1. There is something wrong with me.
2. I should be further along by now.
3. It takes money to make money.
4. It has to be all or nothing.
5. It's bad to be rich.
6. I'm late to the game.
I hate all these millennials these days shaming the rich. They're envious.
@T C *goes to play Pink Floyd! Love that band!
MountainMonkey2 yes, I’m a millennial and I’ve worked very hard to get to where I am. They need to shut up and educate themselves. Bernie won’t save them, he’ll destroy them.
Thank you
MountainMonkey2 she was not doing that - on the contrary, she simply encouraged people to dispel the myth about despising the rich.
15:06 - "People who started investing when they were 12 wish they started when they were 2."
I'm sure those 2 year old investors also regret not having the motor functions or internet connection to have opened a Vanguard account from the womb too.. Good stuff Rose, I enjoy the positivity you always bring in your videos!
I laughed ...and then realized grandpa started Vanguard and Franklin Templeton accounts for each of my kids when I was pregnant with them! I credit my husband's dad for getting my kids now in their 30s started. 💕
Gave me flashbacks to those old school E-Trade ads. "So easy a baby could do it" :P :P :P (12 year old me should have listened lol)
Or back when I was in the nut satchel...😒
I come from a family who has enough wealth that I went to college without a debt, a culinary art study,
All my expences were provided by my dad who works as a tax officer. I focused on keeping my GPA high and never try to work a side job on my holidays. After I graduated, my dad died, and I found it very hard to get a job.
And I feel ashamed, and very hard to stay debt free. But then I put my shame away and get to action 😀
And yes its true, it gets better
Kalitsa Nurhabibi hard times always teach us great lessons to make us better person. I’ve just recently also having financial crisis that have made me a new person.
Thank you for this.I am 43 and learning about this now.All this time i was just saving my money in the bank.
Probably the most crippling of these beliefs are "I should be further along by now" or "I'm late to the game". It's easy to give up with that mentality, thinking that one will never catch up. Time will pass, no matter what you do, so its better to start late than never!
Thank you sooo much for your content Rose! I am 22 and just graduated and I feel so scared about paying my student loans and everything :( you have inspired me to open a Roth IRA and start investing! I really don’t wanna live like every other American and live in debt. I hope I can get a fat 6 figure net worth like you someday!!
My kids started investing at 0 months 1 day through 529 account, they will thank mom and dad later, 3 year old has 8k and 11 month old has 2k already, dayyyyum lol wish my parents did that
cashmonyz Just remember to actually teach your kids. My parents never formally taught me anything about money or finance despite them giving me a great college investment account when I was 5. For me, it was just watching what they did. Most kids will absorb not just what their parents say, but what they do. Do both and teach them how to be grateful as well.
I'M IMPRESSED!!! CAN YOU ADOPT ME? LOL
Silvia Sanchez yes :p
hm guess it's not too late for me to learn about investing before my kids are born
Hey Rose! To speak to your #6: Yeah, I'm 52 years old now, and I'm just starting to get serious about investing. I wanted to be a 'wunderkind' of investing when I graduated college at 22, but everyone told me, "You need your money more now then you'll need it then (retirement age)" or "Your money will do more for you now than it will then." Damn, I believed them (!).....and I totally regret it but I love what you said about how we should get centered and leverage whatever we have at the age we are now to build wealth. It's really never too late....
Maybe another interesting subject could be "fear". Fear of investing and how rational that is.
Thanks Rose! I am also one of those who are starting to get their finances in order late in life. I’ve been teaching my mom what I learned and she always says, “I wish I knew that growing up and raising you kids.” Your platform and social media these days is so important for folks like me who were never taught real life skills of managing money and investing for the future. I am so grateful for your content and you do an amazing job of explaining in laymen terms for newbies like me!
Wow. Really hit home for me rose. Past 5 years off my life I've not gotten anywhere. Pride and shame put me in a bad place. I live at my parents right now even though I'm 26. But I'm working really hard picking up side work and I'm getting my life on track. I dont look like much but I'm in control of my life which makes me very happy.
My sister moved out a few years ago, but then moved right back in with my mom and me a year later... Shame and “keeping up with the Joneses” can tear you apart mentally (if you let it), but you save a bunch of money on rent by living with your parents :] Keep growing financially!
Totally. Live with the parents for as long as you can!! LOL zero shame... save your money, be proud :)
@@itsrosehan your videos have done wonders. Very easy to follow and so informative.
I'm a 33 year old living in NYC and only started investing more seriously a year ago. It's never too late to secure your financial future. It's only because I didn't have the guidance or willingness to learn about personal finance earlier in my 20s.
I listened to this video while I was doing the dishes, just like listening to a podcast. This one was so good, Rose!
I really needed to hear this. Especially about the idea that "I'm not far enough along on my money journey".
I've binge watched most of your videos for the past few days. Your passion to help others is really inspiring. Keep up the awesome work Rose! Love your shows!
I love how honest and real you are. Great tips and positive encouragement!
Dis·ci·pline ~ The practice of training people to obey rules or a code of behavior.
Or
The Marine Corps Version
Dis·ci·pline ~ The instant willful obedience to all lawful orders, respect for authority and (here comes the most important part) 'Self Reliance'
Focusing on your mindset really is essential. Great video.
Thank you Rose 🌹
Hey Rose! I think you are amazing! I have a PT job with an airline but I'm currently working on becoming a FT Financial Coach (former Financial Advisor and currently getting a Financial Planning Certificate from BU). My coaching is all about learning & unlearning, planning goals, investing & staying debt free. I also help my peers at the airline through a private group in FB. I shared this video with them and they are basically laughing because this is 100% me talking!! (I even have the iceberg picture in one of my presentations!)
I came to know you when I was looking for a video that would explain the concept of Dollar Cost Averaging and I loved yours! They were panicking with their 401k and the market volatility created by the virus. I watched a lot of them and yours won. You are a great teacher and I love your enthusiasm! I immediately subscribed to your channel! You are awesome. Thank you for doing this! You are a great contribution to humanity!
Loved your points! However I wanted to add that I’m a Christian and attend church regularly. The Bible teaches us Love of money is root of all Evil not money itself. I was blessed that my dad understood this concept as well and he reiterated that teaching. He’s an entrepreneur who grew up poor on Al farm with no plumbing and picked cotton. He changed his life with knowledge and education. Our pastor also teaches Money is not evil and if God has blessed us with money, we should give and be generous with others. Sorry to get so lengthy 😂
Ashley H That is nice pastor is teaching about it. Most wouldn't touch the subject because they think or believe money is evil. But in reality they're pretty bad of managing money, the reason they can't talk about it.
Ashley H Love of money is not evil, it is greed that is evil. It’s ok to love money. Greed is an extension of insecurity within one’s self. The feeling of never enough leads to greed. Abundance flows when you feel everything you want is already yours.
I remember attending church as a child.... ahh the troubling brainwashing times
ALSO, if you are religious, what people forget is holding your ministry accountable for where they spend your tithes. I remember my parents giving money to missionaries and them being conned from time to time.
@@JESSICA90484 That was a tough one for me as well, we are called to be good stewards of our money and that doesn't mean to just give to every preacher on tv who is asking for it....we must do our due diligence to be sure it is going to where they are saying it is going to. Great comment.
OMG I needed to see your smiling face, to hear your general positive perspective outlook and to once again learn something new financially from you in this crazy time!
Thank you!
I only started looking into my finances with the extra time I've gotten since the shelter in place started and definitely relate to all of your points. Hope more people are able to see this so it can make a positive impact on even a few people
Making money is all about being resourceful and open minded in addition to taking rapid action. You know what they say, action takers are price makers.
Hi Rose, I've been checking out several of your vids, good stuff!!! Thank you 😊
I'm trying to get my awesome son and his lovely fiancé more into investing. She's understandably being hesitant.
I'm going to tell her (both of them) about you, your channel and firstly THIS video. She's already on top of several of the things you warned about but getting some positive reinforcement is still a win and there's always room for improvement!
After a few of your vids they might be ready for those books you recommended!!!! 🧐
Thanks A LOT !!!!! 😁
Thank you Rose! I'm Christian and believe that money is not root of all evil. The verse says love of money. God wants to bless us! Not shame us for wanting/having money. I'm glad the church I go to is addressing this but I know that there are many who still misinterpret this message from the bible. This video is different but I like it! Thanks so much!
Thank you so much for your advice Rose! I've learned so much about investing and saving money by binge-watching your videos.
"...I'm all about the tactics and head knowledge and strategies which I talk alot about on my channel but if you don't have the mindset to back it up, you're not going to take action on what you know and when it comes to personal finance and investing, ACTION is everything. Information is easy to come by, but ACTION is all that matters. Only ACTION is going to grow your bank account. Only action is going to pay down your debt and get your money working for you."
Learning, reading, listening, watching, mean nothing until you take ACTION. I have had a whole lot a time/opportunity to learn from my mistakes and I am STILL learning from not taking action.
That's so awesome! Learning how to save money is super key! Keep it up :)
I started investing and started to question every penny i spend if i can make it cheaper 🤣
Number 5 is what I still struggle to shrug off my mindset to this very day and I do realize it’s very limiting.. maybe I got it from my culture or environment as I grew up.. But God damn it, it is OKAY to be rich!! Thank you for the encouragement! 🙏🏻
I think we all have the capability of growing our wealth from ZERO to INFINITY! 🚀📈 Everyone grows at their own pace. Mindset is key! 🧠💡
☝️😎👍
Yes I totally agree! Even if you have bills and other things to pay off I started to save thousands of dollars by just putting away $30 each week into my savings account and it definitely helped me save
Nicole Minabe Awesome!
Nicole Minabe Years ago I had only 200 in my checking account and only 1,000 in my savings. I made up my mind to have more. I did only two things. Spend 5% to give to others whether a charity or otherwise, and save at least 10% net pay. Now I have half a million in investments, and several thousand in both checking and savings. This was my easiest budgeting method that actually worked.
@@taoist32 WOW! That is so amazing!!!! That is such a huge accomplishment and the fact that you completely changed your life around! You should make videos about that :)
Nicole Minabe Haha. Thank you. No need to make videos. Anyone can do it and discipline is easy when you only have to do two simple activities that take less than five minutes to do. Of course, learning and experiencing how to invest takes more time. I think the key is to figure out the lifestyle you want. No one should be afraid to make the choice to save, give, and invest.
Awesome content and money lessons Rose! Back in my university days, sis took any additional student loans I received after paying my tuition and books, residence and meals, and a little spending money and invested them all. At that point in time, I didn’t understand why. All I saw were that I missed opportunities on Spring Break trips, no car, no computer in my dorm and had to use the campus computers, and didn’t have the lifestyle as my friends did. Upon graduating, sis took all the invested money and then some and settled my entire student loan in one shot. All of my friends were shocked. Thanks to sis and thanks to you Rose for bringing back memories and a refresher the importance of handling money. 👍
Rose, you are a GEM!! Doesn't matter that this video wasn't "info-based" like your other videos. This is an important topic. #2 Comparisonitis #3 Resourcefulness and #4 Multiple little streams combine to create a raging river were especially impactful points to me. Thank you.
You and Andrew Jihk are changing my life. I am "late to the game" (I'm 27). Life isnt always easy, and you can only do what you know till you better. So now I'm doing better. Thankyou
I can watch you talk about investing and finances all day. You are great have a real teacher vibe and very good at what you do.
This is exactly why I setup auto transfers to savings, retirement Investments, student loan payments, and auto pay for my credit card. Now I don't have to rely on motivation or have emotions affect my finances.
Automate ALL the finances! (Once you consciously put your game plan in place 😛)
Rose I love you for the work you're doing here😘😘😘😘😘
"Dont compare yourself to anyone, unless u know their back story"👏🏿 🙌🏾 Can I get an Amen?!
Keep up these types of videos. Investing/personal finances can take up so much emotional energy. Therefore learning these underlying beliefs was really helpful for my own thought processes.
It is definitely worth it to bring in info about habits, mentality, attitude, discipline, reprogramming, critical thinking, diet, etc because they all are what will sustain or sabotage a good financial journey.
Rose 🌹 is wise beyond her years. I can identify with all her 6 topics. I guess I had better get to stepping! See you next week. 🤗
Rose you're amazing and wise, so allow me to share my Words of Wisdom: The three most beautiful words you will ever say (beside I love you) are "Paid In Full!" Those 3 little words will give you such a feeling of accomplishment and security (smile).
Love that! PAID IN FULL
I appreciate you. Thanks for blessing my feed.
You should get a better mic because your content deserves it, keep up the good work.
Working on improving the audio 😅 Thank you!
Rose's room doing the recording is surrounded with hard reflective surfaces.
I bought a lavalier mic for 10$ on amazon. I record the audio separately on my phone (voice memos) and put it as a second layer over the footage when I edit my videos. Sound is great!
Rose just needs to get a little mic that attaches to her shirt, then it will be fine. There will still be some slight echo from the reflective surfaces in her room, but it will be much less than now.
I’m q i use try ur up and
Thanks for all your tips Rose! And I love a cheesy story (grand canyon) any day. That's what makes you a real person. I definitely identify with a couple of these and I think it's so important to understand how they motivate our behaviors. Your comment about sitting at the family table and talking about money is so true. So many of our parents did not teach us about money and spending or had wisdom or advice to offer.
One message from Christianity is "it is easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of God". But that was about the love of money, and money is not the be-all and end-all. If you want to donate generously to charities, help family members etc. you have to have money to begin with.
Dang, I really needed this right now! Thank you! I struggle with combating ALL of these negative beliefs, so now I gotta check out the books you recommend on personal finance! :)
Rose...you're so right about that. Another belief is that "we're not taking nothing when we die" and live the life spending away.
Rose 🌹 just read your email on #George Floyd and I was just saying I’m not understanding why some You-tubers are avoiding the elephant in the room, and BOOM 💥 you did... made me realize who I’m really following- I was really impressed. #Rose is still a 🌹
Thank you for your words!!! It took some courage to take a stand, but enough is enough and I realized I should use my platform. In solidarity 🌹
@@itsrosehan Perhaps if BLM came to your place of business and looted it destroying your livelihood and community (mostly a minority community I may add) targeting and tearing down your way of life (business) that you have built over the past forty years you would have a different perspective on the BLM looters.? Then to ask people to support BLM protestors (who are being paid to loot) literally there are paid protestors in my community. Sadly you know enough about this to believe you are correct when clearly you lack perspective and all the information. BLM supports the destruction of my livelihood despite the fact that I had no stake in the death of Mr. Floyd or have ever acted in a racist manner. Nothing like jumping on the bandwagon to monetize on a crisis. I support all lives, races, religions, and people. I would never take an extreme example and use it to stereotype and target other races or peoples so that I could justify looting innocent minority businesses, belongings, homes, cars, etc. Then publically call upon my youtube followers to financially donate to that cause. Rose, I have followed your channel for a long time. It was hard to click on your video today.
@@joaquingonsalves11 The question is what do you think should be done about police brutality and I see nothing about that in your comment. You may experience some interruptions to your livelihood every now and then from social unrest, but for many blacks and minorities, they experience inequities from the time they are born and throughout their entire life. So you can understand if they are more frustrated and ticked off than you think they should. Fortunately, we have a system of law and order that has worked for centuries. These social riots have had little impact on the investing world. Stock markets have continued to grow in spite of them. You should thank Rose for steering in the right direction with her channel. Speaking of monetizing her channel, I wonder why there are no ads in her videos.
Joaquin Gonsalves if that’s your mindset then you deserve to have your business ruined 😂 these people are just screaming to be heard for once. plus, majority of these “looters” are just random people of the public taking advantage of the riots. don’t blame the protestors lmao next time bring facts or block her if you don’t want to support her anymore
Do you know anybody that is not horrified by what happened to Floyd? No because that is something that easily everybody can agree is unacceptable. Nobody except for a minute minority believe that black lives don’t matter. However the reason I am now unsubscribed from Roses channel is she calls for donations to BLM. If she has actually been to their website then she is knowingly supporting an extremist group that believes the police should be defunded. BLM hides behind the name pulling in money from naive liberals with the goal of disrupting and tearing down our society. I can’t get behind that.
I loved this!! I was a believer in many of the myths you discussed. Maybe not a believer but they definitely lingered in my subconscious!! Thanks for putting them in to proper perspective!! BTW - absolutely love your channel!!!
I agree, although one of mine was complete ignorance since money was never talked about in my family unless there wasn't enough....which was often.
Hello Rose. Another nice video. I really like hearing how you were able to get out of debt and get more involved with making money. Very inspiring! It's something I'm going to do more of next year when I'm retired and living overseas.
However, I think people who are not financial experts and want, think or dream of retiring one day will get a major wake-up call when they find out (and its usually later on in life) how much they'll actually need if they want to retire. I know everybody has a plan, they all know what they're doing, they walk around with the attitude like a know-it-all, but the reality is you'll never know how much you're going to need until you reach your retirement age. For most it's going to be a hard punch in the gut!
I was in my late teens in the early 80's. That's when the 401K's started. What started out as a tax loophole for big company's became a way of company's to eliminate there pensions and make their own employees responsible for there own retirement. Great idea--right! Put the employee in the position to play the market! Here's the problem: How many employees at ABC Tech are stock brokers? How many employees at XYZ Bio have the time to invest when deciding stock which option to choose from? What I'm getting at is the regular 9-5 worker is totally clueless when it comes to investing. They're exhausted after a hard day's work. They want to relax, recoop and get ready for the next day. I know. I've been there. I also attended those meeting HR demands that you attend (back in the day), which will explain the company that'll handle your retirement 401K. Rose, ask any one of your viewers: What's in your 401K plan (do you see names like Boeing, Amazon, Microsoft, Best Buy)? If the investment firm is Nationwide, Charles Schwab, or T. Rowe Price, where are those hard-earned dollars going? I bet you'll get a lot of IDK?!?! I know, I was one of them. Didn't have a clue. If you're not well educated on investing you're screwed. Trust me. Enough of that.
I guess I want people to know: 1) If you really want to retire at 60 I hope you were investing about 30% of your paycheck from age 20 and haven't stopped & 2) Save as much as you can! The retirement boat leave the docks at age 20-25 and if your not on it you gotta lot of catching up to do. Some may never catch up at all.
Drop your contact
For assistance
This is awesome! I'm financially independent, but I share your vids to many of my friends. SO GOOD
The smallest changes make the biggest differences, that sunk this year... and that steady growth is so vital, the compounding effect is so real- it is worth making any small change that leads toward to financial freedom, the accumulation is an eye opener.
I started my financial literacy journey by starting a zero based budget and using the cash envelope system. Taking the necessary measures to spend less. Basically live below my means which hasn’t been hard for me luckily.
Now, I’m going to start reading up on investing because I barely know about it or where to even begin. And you’re right, if you grow up with your family not knowing how to manage money, neither will you. I had to do something to change that. It feels reassuring knowing I’m on the right track.
Thank you for this. I still have a lot to learn but yesterday I took my first steps in investing
Well said Rose - money is not the only value creator as you illustrate by monetising your hard work with owning bricks and mortar. Neither do we always ask for the value we create - it costs nothing to ask and will also open your perspective on how the company rewards entrepreneurial and hard employees!
Hi, Rose. I love your life stories... Money and how one deals with it is personal. I don't want to discourage the information - please. I wait for the weekly "report." I cannot complain about my finances too much. I know I'm further along than many other people. However, I need to improve myself in this area. I want you to know that a couple of investments were inspired by your talks and I'm doing well. Thanks for you for you. May we all get through this more or less whole. Best wishes.
Thanks for the content Rose! Your channel has really inspired me to get more serious about my finances and boost my financial IQ 🤓
Woohoo! That's so awesome. Being able to get ahold of your finances is a great start. It's not about how much money you make, its about how much money you save :)
I love this - limiting beliefs is the true killer of alot of success. This same philosophy can be applied to so many things ie "feeling ashamed about zxy" take action and do it. Alot of people feel stuck or don't see they're in a negative spiral. Shifting beliefs 👏
Thankyou so much again ❤️❤️😇
I grew up in a working class family that knew absolutely nothing about money, only that we never seemed to have enough. My mother is a spender and it doesn't matter how much she has....two dimes to rub together can buy something for someone right? I, myself didn't even find out that good credit was a good thing to have until I was in my 30's and my wife pointed that out. I am now on my own journey to finding out how to be rich. You quoted the Bible verse right, but I waned to point out that the Bible is actually full of rich people, Adam, Noah, Abraham, Solomon just to name a few. Which is supposed to, I believe, lead us to believe that God does want us to be rich for the very reasons you pointed out, it is way easier to give to great causes when we are rich. Love your videos by the way, it feels like we are having a face to face conversation about things I haven't learned yet.
I found you during coronavirus and since then I’ve bought 3 of your book recommendations. I’m almost done with rich dad poor dad and it’s motivated me to become more educated on finance. Since then I’m on path to pay my mortgage by Sep 2022 VS 2045 (velocity banking, UA-cam it!) and have started looking into real estate to add to my asset column!
My wife and I concluded it is cheaper to retire on minimum wage than to work full-time as an engineer in a company like Broadcom, for example. It's not bad to be rich, but unfortunately, many in a Christian church look down on the poor and do not associate with them. I am somewhat jaded about church, but we want to go back to church. Since we are earning minimum wage, it is very hard to fit in any church. Not many know that being rich means that you basically buy stuff you don't need where you end up being a lot poorer. Since I am not working, I do take care of my family as a father. We do not have a nanny. A nanny is around $30,000 per year. I know many rich members spent that much for a nanny. $30,000 is almost half of an engineer's income working at Broadcom. When you work at Broadcom, you need to buy a secondary car for your housewife. My point is that when you pursue being rich, you will spend money on stuff when you can do it yourself. I am an engineer. When stuff breaks in my home, I always do my best to fix it. If I work at Broadcom, I do not think I will have the time to repair every appliance in my home. I have to hire someone to fix everything in my home when stuff breaks.Yes, the Bible made it clear that love of money is root of all evil. Being rich itself is NOT a sin because Joseph of Arimathea who buried Jesus at the tomb was rich and risked his own life doing this because he could also die on the cross himself for burying our God. I know it is counterintuitive. Many believe making money gives you the financial freedom to do what you want. What our family experienced is that being poor helped us spend more time with family who matters most.
Psychology and investing are two of my favorite topics and you have beautifully combined them in this video. Thank you!
Thanks for your feedback. _for my guidance on earning
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The way I see it is what can I do to put my future self in a better position than the current me.
It really helped me change my habits across the board.
Now I save money like a squirrel saves nuts 😂
Getting ready to do some investing in RE soon! 🎊
Love these videos keep up the great work! ✌🏽
How applicable is this video for someone who is in later stages of life! Because by now, it's pretty likely to be able to relate to all 6 points! I've been practicing the 'drip' effect for years to pay down debt. Paying anything over your minimum payment, even $10, is money you will no longer pay interest on and bring the interest & principal down to a lower balance. I've started my investment strategy the same way. Am I going to actually miss $10 a week? And a couple years later, I have a few actively growing portfolios. Thank you for your passion & insight. I know people are listening and gaining confidence to finally take steps the always wished they could.
I really appreciate your openness, it always helps to know that others experience some of the same thoughts and feelings that surround money.
Hi Rose ,
Great video ....I think you nailed it on the head ....habits , habits , habits !!!! ...phycology has a major role in our individual lives , determining our actions !!! ...past , present and future ....learn from the past , be present in the now and just do it !!!! ....you go girl !!!! ❤️🙏
Awesome video Rose!! It's been awesome watching your channel grow this past year. Thanks for pumping out so much free content!
Hey Rose - enjoy your vids - loved the part about you have to invest your money and not let it sit in the bank because of inflation. Also loved the comment about hang in there with market fluctuations - at least the money is invested. As a dividend investor - this was really helpful to hear. Thanks for all you do
Whoa! Congrats on finishing off your loans this year! I have a 150k+ student loan from PT school that I am terrified to tackle. However hearing your story does make it seem more possible! I really enjoy your content! :)
Indeed, and thank you!! Just keep going and chipping away, you’ll get there 💪🏼
I have been following you in the past weeks. I am happy to see you are trying to be honest with everyone and with yourself. Sometimes, many of us need to know that we are not the only ones thinking or feeling the same way. Keep it up, girl!
💯!!
Congratulations rose , I'm currently try to pay off my wife's student loans
WHAT A GENTLEMAN! KEEP UP THE GOOD WORK SIR! THANK YOU FOR BEING A GREAT PROVIDER TO YOUR WIFE, AS WELL AS SHOWING IN A PRACTICAL FASHION YOU REALLY DO "LOVE" HER!!!
Excellent advice! These are all beliefs that hold us back financially. Money is not evil. It's the love of money that is evil. Money can be used for wonderful things in this world. Also, we shouldn't dwell on our past financial mistakes. We should focus on the future. We can learn from our mistakes and get better.
I think a big limiting belief for me is "you can only get rich if you get lucky/ have a privileged background." I'm sure it's EASIER to get rich if you get lucky or have rich parents, but attributing success to windfalls is basically a way to ensure I never take any steps or work hard at it at all. Great video, as per always, I'm binging your old videos in prep for a new job where I'm actually going to be making more than subsistence wages :)
Similiar here. I used to be part of a Bible group which for years sabotaged me with “camel” and “needle” mentality. Now out of it I feel much better about my financial life.
with infinite love and appreciation from Poland ♾️🙏💙
#1 "There's something wrong with me" having shame about mistakes, thinking/feeling you're unworthy of wealth
#2 Comparing yourself to others
#3 "It takes money to make money"
#4 Taking an all or nothing approach to money
#5 "It's bad to be rich"
#6 "It's too late to invest"
Thank you for this video, it was exactly the positive boost that I needed. I am 38 and open an investing 3 years ago. But since pandemic, I realized I needed to take better action of actually investing because I didn't really do much since with the account. I actually file for bankruptcy few years back and though....that's it.....I will never make money! And the information out there is all about investment from yesterday, so I started to be more proactive and believing that there is more people out there that I have a similar situation and found a lot of positive information like your video that speak about all the small step no matter where you are in life and in the future it will be rewarding no matter what :) thanks and keep up the good work!
We ALL have limited beliefs on certain things. First is to being aware about it then we can change/overcome it. 🤙🏽💯🔥
What a GEM of information!!! You don't need money to make money, you need resourcefulness 🙌🙌🙌🙌
😁❤️🙏
Thank you for sharing, Rose! Growing up as an Asian American, a lot of these points resonated with me like maintaining status, holding a grudge at wealthier people, being "scrappy", and making the best with what you have. While some of my (traditional Asian) relatives still hold these money-limiting beliefs, your own personal finance journey is the most important thing to focus on. Great video and would love to see more "philosophical thought" content in the future too!
I think some of those beliefs still can help in this present age, like being scrappy and living below your means, you just have to balance it with not being so penny-pinching that you’re miserable :] Keep what works from the previous generation, while still being open-minded enough to change and evolve for the future 🔥
Love that you found so many points relatable! It seems like this video is resonating so I look forward to doing more “philosophical” money videos in the future 😊
@@itsrosehan Excited for those "philosophical" videos :) also I heard you're from the DC Area -- thanks for representing, I'm from the DMV too!
I have no idea how many videos you have on here, Rose, but I’m going to watch them all. Great examples, ability to relate, and common sense presented attractively. Thank you!
Your production has continuously gotten better, and your content is as great as always. Thank you for your countless words of wisdom. I started "late" , as in, this year in my early to mid 30's to really care about debt and money. In part, that's because I had low paying jobs in my 20's. But I've made good progress in the past month alone. Paid off one credit card, another credit line, invested into stocks, and created a liquid emergency fund of 1k. In part, from the advice in your videos. So thanks!
And those are all books I purchased in the last month, along with a few more. The first one I'm reading is Unshakeable :)
So awesome all the steps you’ve taken! Congrats and you should be proud of yourself. Also I have a video editor now which helps soooo much to uplevel my videos. More improvements on the way :)
@@itsrosehan thank you!
You are a godsend. You are giving us a lot of information that we would otherwise have to pay a lot of money for. I appreciate your efforts.
I would like to see you express to your subscribers and visitors the importance of health & life insurance in particular. Because medical expenses alone can wipeout or seriously impact our finances. I would say that both health and life insurance are necessary expenses in the financial department. And by the way, I am a subscriber.
Thank you for sharing this. Thank you for reminding us we are not our mistakes... That story of your emotional epiphany on the plane ride made me choke up as well... I felt like I also went through mini versions of that same cleansing feeling as I listened to what you shared with us on this video! Please keep up your great work and thanks again. Never too late - I am committed to turning my finances around from here.
I really relate to the "I'm late to the game" mindset so thank you for including it. Also, good point on how shame makes everything worse - I spent way too many years (decades) being too afraid to pay attention to my finances, so yeah, they were horrible. So I may be late to the game but I've made a lot of progress in the past year, so I'm looking forward not back. When the market crashed in March, I bought in, just ten dollars in some index funds. I've really been enjoying the recovery since then, lol.
Another of my limiting beliefs was that investing in stocks was way too complicated and expensive and difficult for someone like me. It's a lot easier than I'd thought to open a brokerage account. I started with Betterment (robo-advisors are very reassuring for newbies). If it weren't for fractional shares, it'd still be too expensive for me, but the market is a lot more approachable than I'd thought. And I learned some of that from you. Also, I think you recommended "I Will Teach You To Be Rich" which is really great. (Frugal tip - get a free trial of Audible, download that book as your one free one, and cancel before they charge you. Totally worth it) Thanks, Rose.
Same.
Excellent and very true. If your subconscious is not on board with getting rich, it doesn't matter how much you learn about budgeting or investing or other money mechanics.
Thank you Rose. This was a need in time. We always have to keep conditioning the mind for the next great financial accomplishments... Great work!
Hey, just wanna say thank you for all your contents. this is exactly how i feel. I had to grow up alone since i was 11 and absolutely nobody to teach me about financial literacy. To make things worst, I am in the creative industry which have no exposure to finance at all. All my friends seems to be doing so much better than me while im struggling living on the edge just trying to make ends meet. Your videos are so easy to understand without all the finance gibberish terms.
For assistance
R o se t h e I n v e s t o r13 g ma i l co m^^^
I have watched 3 of your videos so far, and I am really learning a lot. I am in my late 40s and the simple changes that I learned and am applying, I'm going to do very well into my 50s and beyond. It's never too late until I'm dead. Thanks for sharing Rose =)
The main mindset is to know you deserve money and excess income. With that knowing firmly established -- like right now -- you will spend less money than you earn, save and invest what is left over, and slowly grow your financial wealth. At the same time, you have to look at what else you deserve in life and achieve the mindset to attain it: your health, your creativity, your living atmosphere, your work or career, your social and spiritual life, every facet of life and living with which you are intimately connected. Money is only one of those things. The book, The 7 Habits of Highly Effective People and others like it would be helpful in this larger regard.
LOL Rose. When you said burning man I realized I will be your subscriber forever. :) Have been watching your videos and hitting the like button without writing much but your comment finally prompted me to say something. Rose, I always learn something from your videos. You're probably the most informative, down to earth UA-camr I've ever seen. Thank you and keep being you!
Hehe Burner tribe 💕🌈
YES. I needed this video so much. Thank you for this!
Love your channel Rose, you have really helped me reevaluate my life and finances and ways to make my money work for me. Your dreams ARE tangible people! ❤🌹🌹I'd love to see a video on how to encourage young children to be responsible with money, just an idea❤
Check out Our Rich Journey Junior, which must launched today!
I need this, Thank you for sharing!
Great video. I agree with you, it doesn't necessarily take money to make money. However it certainly helps to grow your wealth. It's like a snowball effect. An annualized 6% return on $100 is only $6 but on a $1 million portfolio it's $60,000. It takes small steps but if you keep at it, it's amazing how quickly you can grow your net worth.
The 6 limiting money beliefs was great; thank you.
Money is simply a tool people who see money as an evil clearly don't understand that its how you use it that counts. The more money you have the more money you can give! Keep up the great content.
Im literally in love with you, like damn lol
You are super smart. I’ll definitely be watching all your UA-cam videos from now on.
Hi ROse, Loving your channel. Keep it up and I will keep watching and supporting your channel. Power to you !
I’ve really enjoyed your videos. You have a real talent for explaining finance as well as excellent skill at public speaking. The pandemic really pushed me to rethink my finances and I’ve been reading in the market for a few months now and your videos have really helped me understand and refocus my efforts. Best of luck on everything going forward!
I agree with some things you say but not the others. It's not wrong/bad to be rich, it's what you do/act afterwards and unfortunately lot of self-made folks forget their roots because they glorify the rich too much.
We need someone in schools to teach these basic things about money making in life rather than useless chapters and subjects